XML 15 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2013
Fair Value Measurements [Abstract] |
Financial assets and liabilities measured at fair value on a recurring basis | The following table presents the balances of assets and liabilities measured at fair value on a recurring basis.
|  |  |  |  | Fair Value Measurements at March 31, 2013 Using |
Description |  | Balance as of March 31, 2013 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
U.S. Treasury |  | $ | 2,053 |  |  | $ | --- |  |  | $ | 2,053 |  |  | $ | --- |
U.S. Government agencies and corporations |  |  | 137,638 |  |  |  | --- |  |  |  | 137,638 |  |  |  | --- |
States and political subdivisions |  |  | 33,583 |  |  |  | --- |  |  |  | 33,583 |  |  |  | --- |
Mortgage-backed securities |  |  | 4,072 |  |  |  | --- |  |  |  | 4,072 |  |  |  | --- |
Corporate debt securities |  |  | 11,935 |  |  |  | --- |  |  |  | 11,935 |  |  |  | --- |
Other securities |  |  | 2,259 |  |  |  | --- |  |  |  | 2,259 |  |  |  | --- |
Total Securities Available for Sale |  | $ | 191,540 |  |  | $ | --- |  |  | $ | 191,540 |  |  | $ | --- |
|  |  |  |  | Fair Value Measurements at December 31, 2012 Using |
Description |  | Balance as of December 31, 2012 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
U.S. Treasury |  | $ | 2,073 |  |  | $ | --- |  |  | $ | 2,073 |  |  | $ | --- |
U.S. Government agencies and corporations |  |  | 129,564 |  |  |  | --- |  |  |  | 129,564 |  |  |  | --- |
States and political subdivisions |  |  | 36,779 |  |  |  | --- |  |  |  | 36,779 |  |  |  | --- |
Mortgage-backed securities |  |  | 4,569 |  |  |  | --- |  |  |  | 4,569 |  |  |  | --- |
Corporate debt securities |  |  | 14,575 |  |  |  | --- |  |  |  | 14,575 |  |  |  | --- |
Other securities |  |  | 2,255 |  |  |  | --- |  |  |  | 2,255 |  |  |  | --- |
Total Securities Available for Sale |  | $ | 189,815 |  |  | $ | --- |  |  | $ | 189,815 |  |  | $ | --- |
Impaired loans and other real estate owned (OREO) measured at fair value on nonrecurring basis | The following table summarizes the Company's impaired loans that were measured at fair value on a nonrecurring basis at March 31, 2013 and at December 31, 2012.
|  |  |  | Carrying Value |
Date | Description | Balance |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
| Assets: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2013 | Impaired loans net of valuation allowance |  | $ | 722 |  |  | $ | --- |  |  | $ | --- |  |  | $ | 722 |
December 31, 2012 | Impaired loans net of valuation allowance |  |  | 928 |  |  |  | --- |  |  |  | --- |  |  |  | 928 |
The following table summarizes the Company's other real estate owned that was measured at fair value on a nonrecurring basis.
|  |  |  | Carrying Value |
Date | Description | Balance |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
| Assets: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2013 | Other real estate owned net of valuation allowance |  | $ | 1,094 |  |  | $ | --- |  |  | $ | --- |  |  | $ | 1,094 |
December 31, 2012 | Other real estate owned net of valuation allowance |  |  | 1,435 |  |  |  | --- |  |  |  | --- |  |  |  | 1,435 |
Summary of information about level 3 fair value measurements | The following tables present information about Level 3 Fair Value Measurements for March 31, 2013 and December 31, 2012.
March 31, 2013 | Valuation Technique | Unobservable Input |  | Range (Weighted Average) |
Impaired loans | Discounted appraised value | Selling cost |  |  | 10.00% (1) |
Impaired loans | Present value of cash flows | Discount rate |  |  | 6.25% - 7.75% (6.36%) |
(1) Of the Company's impaired loans with specific allocations based on Level 3 inputs, only one loan was valued using fair value of collateral.
December 31, 2012 | Valuation Technique | Unobservable Input |  | Range (Weighted Average) |
Impaired loans | Discounted appraised value | Selling cost |  |  | 0% - 10.00% (2.00%) |
Impaired loans | Discounted appraised value | Discount for lack of marketability and age of appraisal |  |  | 0% - 60.00% (52.00%) |
Impaired loans | Present value of cash flows | Discount rate |  |  | 6.00% - 7.50% (6.28%) |
The following tables present information about Level 3 Fair Value Measurements for March 31, 2013 and December 31, 2012.
March 31, 2013 | Valuation Technique | Unobservable Input |  | Range (Weighted Average) |
Other real estate owned | Discounted appraised value | Selling cost |  |  | 0.00% (1) – 9.95% (2.28%) |
Other real estate owned | Discounted appraised value | Discount for lack of marketability and age of appraisal |  |  | 0.00% - 30.90% (4.94%) |
December 31, 2012 | Valuation Technique | Unobservable Input |  | Range (Weighted Average) |
Other real estate owned | Discounted appraised value | Selling cost |  |  | 0.00% (1) – 6.00% (4.30%) |
Other real estate owned | Discounted appraised value | Discount for lack of marketability and age of appraisal |  |  | 0.00% - 30.90% (4.68%) |
(1) The Company markets other real estate owned both independently and with local realtors. Properties marketed by realtors are discounted by selling costs. Properties that the Company markets independently are not discounted by selling costs.
Estimated fair values and related carrying amounts of financial instruments | The estimated fair values and related carrying amounts of the Company's financial instruments follow.
|  | March 31, 2013 |
|  | Carrying Amount |  |  | Quoted Prices in Active Markets for Identical Assets Level 1 |  |  | Significant Other Observable Inputs Level 2 |  |  | Significant Unobservable Inputs Level 3 |  |  | Total Estimated Fair Value |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 10,674 |  |  | $ | 10,674 |  |  | $ | --- |  |  | $ | --- |  |  | $ | 10,674 |
Interest-bearing deposits |  |  | 107,176 |  |  |  | 107,176 |  |  |  | --- |  |  |  | --- |  |  |  | 107,176 |
Securities |  |  | 358,487 |  |  |  | --- |  |  |  | 365,758 |  |  |  | --- |  |  |  | 365,758 |
Mortgage loans held for sale |  |  | 313 |  |  |  | --- |  |  |  | 313 |  |  |  | --- |  |  |  | 313 |
Loans, net |  |  | 566,667 |  |  |  | --- |  |  |  | --- |  |  |  | 555,322 |  |  |  | 555,322 |
Accrued interest receivable |  |  | 5,878 |  |  |  | 5,878 |  |  |  | --- |  |  |  | --- |  |  |  | 5,878 |
Bank-owned life insurance |  |  | 20,690 |  |  |  | 20,690 |  |  |  | --- |  |  |  | --- |  |  |  | 20,690 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 937,119 |  |  | $ | 667,227 |  |  | $ | --- |  |  | $ | 263,814 |  |  | $ | 931,041 |
Accrued interest payable |  |  | 146 |  |  |  | 146 |  |  |  | --- |  |  |  | --- |  |  |  | 146 |
|  | December 31, 2012 |
|  | Carrying Amount |  |  | Quoted Prices in Active Markets for Identical Assets Level 1 |  |  | Significant Other Observable Inputs Level 2 |  |  | Significant Unobservable Inputs Level 3 |  |  | Total Estimated Fair Value |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 14,783 |  |  | $ | 14,783 |  |  | $ | --- |  |  | $ | --- |  |  | $ | 14,783 |
Interest-bearing deposits |  |  | 96,597 |  |  |  | 96,597 |  |  |  | --- |  |  |  | --- |  |  |  | 96,597 |
Securities |  |  | 352,043 |  |  |  | --- |  |  |  | 362,350 |  |  |  | --- |  |  |  | 362,350 |
Mortgage loans held for sale |  |  | 2,796 |  |  |  | --- |  |  |  | 2,796 |  |  |  | --- |  |  |  | 2,796 |
Loans, net |  |  | 583,813 |  |  |  | --- |  |  |  | --- |  |  |  | 570,471 |  |  |  | 570,471 |
Accrued interest receivable |  |  | 6,247 |  |  |  | 6,247 |  |  |  | --- |  |  |  | --- |  |  |  | 6,247 |
Bank-owned life insurance |  |  | 20,523 |  |  |  | 20,523 |  |  |  | --- |  |  |  | --- |  |  |  | 20,523 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 946,766 |  |  | $ | 669,028 |  |  | $ | --- |  |  | $ | 272,820 |  |  | $ | 941,848 |
Accrued interest payable |  |  | 139 |  |  |  | 139 |  |  |  | --- |  |  |  | --- |  |  |  | 139 |

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration