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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present the fair value measurements of assets and liabilities recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2015 and 2014:

						December 31, 2015
						Fair Value Measurements Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
U.S. Government-sponsored agencies		$	37,750			$	—			$	37,750			$	—
Municipal securities		21,469				—				21,469				—
Mortgage-backed securities		113,052				—				113,052				—
Asset-backed securities		19,361				—				19,361				—
Corporate securities		19,087				—				19,087				—
Other securities		2,979				2,979				—				—
Total available for sale securities		$	213,698			$	2,979			$	210,719			$	—
Loans held-for-sale (mandatory pricing agreements)		24,065				—				24,065				—
Forward contracts		30				30				—				—
IRLCs		582				—				—				582

						December 31, 2014
						Fair Value Measurements Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
U.S. Government-sponsored agencies		$	13,552			$	—			$	13,552			$	—
Mortgage-backed securities		117,048				—				117,048				—
Asset-backed securities		4,912				—				4,912				—
Other securities		2,006				2,006				—				—
Total available for sale securities		$	137,518			$	2,006			$	135,512			$	—
Loans held-for-sale (mandatory pricing agreements)		32,618				—				32,618				—
Forward contracts		(405		)		(405		)		—				—
IRLCs		521				—				—				521

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying consolidated balance sheets using significant unobservable (Level 3) inputs: 

	Securities Available-for-Sale				Interest Rate Lock Commitments
Balance as of January 1, 2013	$	840			$	—
Total realized gains
Included in net income	—				79
Included in other comprehensive income (loss)	833				—
Balance, December 31, 2013	1,673				79
Total realized gains (losses)
Included in net income	(259		)		442
Included in other comprehensive income	1,333				—
Sales	(2,747		)		—
Balance, December 31, 2014	—				521
Total realized gains
Included in net income	—				61
Balance, December 31, 2015	$	—			$	582

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill.

		Fair Value at December 31, 2015				Valuation Technique		Unobservable Inputs		Range
IRLCs		$	582			Discounted cash flow		Loan closing rates		43% - 100%

		Fair Value at December 31, 2014				Valuation Technique		Unobservable Inputs		Range
IRLCs		$	521			Discounted cash flow		Loan closing rates		40% - 95%

Fair Value, by Balance Sheet Grouping

The following schedule includes the carrying value and estimated fair value of all financial assets and liabilities at December 31, 2015 and 2014:

		December 31, 2015
		Fair Value Measurements Using
		Carrying Amount				Quoted Prices In Active Market for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		$	25,152			$	25,152			$	—			$	—
Interest-bearing time deposits		1,000				1,000				—				—
Loans held-for-sale (best efforts pricing agreements)		12,453				—				12,453				—
Loans receivable		953,859				—				—				967,303
Accrued interest receivable		4,105				4,105				—				—
Federal Home Loan Bank of Indianapolis stock		8,595				—				8,595				—
Deposits		956,054				472,481				—				478,360
Advances from Federal Home Loan Bank		190,957				—				188,126				—
Subordinated debt		12,724				—				13,212				—
Accrued interest payable		117				117				—				—

		December 31, 2014
		Fair Value Measurements Using
		Carrying Amount				Quoted Prices In Active Market for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		$	28,289			$	28,289			$	—			$	—
Interest-bearing time deposits		2,000				2,000				—				—
Loans held-for-sale (best efforts pricing agreements)		2,053				—				2,053				—
Loans receivable		732,426				—				—				733,538
Accrued interest receivable		2,833				2,833				—				—
Federal Home Loan Bank of Indianapolis stock		5,350				—				5,350				—
Deposits		758,598				383,847				—				377,067
Advances from Federal Home Loan Bank		106,897				—				107,743				—
Subordinated debt		2,873				—				3,094				—
Accrued interest payable		97				97				—				—

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- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

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-Topic 820
-SubTopic 10
-Section 50
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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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-Publisher FASB
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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