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Note 2 - Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

		Fair Value Measurements at June 30, 2016 Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities			----			$	8,025				----
Agency mortgage-backed securities, residential			----				86,381				----

		Fair Value Measurements at December 31, 2015 Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities			----			$	8,965				----
Agency mortgage-backed securities, residential			----				82,686				----

		Fair Value Measurements at June 30, 2016, Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial real estate:
Owner-occupied			----				----			$	3,318
Nonowner-occupied			----				----				2,148
Commercial and industrial			----				----				307
Other real estate owned:
Commercial real estate:
Construction			----				----				1,147

		Fair Value Measurements at December 31, 2015, Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial real estate:
Nonowner-occupied			----				----			$	2,473
Commercial and industrial			----				----				3,779
Other real estate owned:
Commercial real estate:
Construction			----				----				1,147

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

June 30, 2016		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range					(Weighted Average)
Impaired loans:
Commercial real estate:
Owner-occupied		$	3,318		Sales approach		Adjustment to comparables		5%	to	26%				9.7	%
					Cost approach		Adjustment to comparables		0%	to	29.5%				14.76	%
Nonowner-occupied			2,148		Sales approach		Adjustment to comparables		0%	to	12.5%				6.9	%
Commercial and industrial			307		Sales approach		Adjustment to comparables		0.9%	to	9.7%				5.2	%
Other real estate owned:
Commercial real estate:
Construction			1,147		Sales approach		Adjustment to comparables		0%	to	35%				15.2	%

December 31, 2015		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range					(Weighted Average)
Impaired loans:
Commercial real estate:
Nonowner-occupied		$	2,473		Sales approach		Adjustment to comparables		0%	to	12.5%				5.7	%
Commercial and industrial			3,779		Sales approach		Adjustment to comparables		0.9%	to	30%				14.3	%
Other real estate owned:
Commercial real estate:
Construction			1,147		Sales approach		Adjustment to comparables		0%	to	35%				15.2	%

Fair Value, by Balance Sheet Grouping [Table Text Block]

						Fair Value Measurements at June 30, 2016 Using:
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents		$	57,467			$	57,467			$	----			$	----			$	57,467
Certificates of deposit in financial institutions			1,715				----				1,715				----				1,715
Securities available for sale			94,406				----				94,406				----				94,406
Securities held to maturity			19,310				----				9,851				10,640				20,491
Federal Home Loan Bank and Federal Reserve Bank stock			6,576				N/A				N/A				N/A				N/A
Loans, net			596,002				----				----				601,895				601,895
Accrued interest receivable			1,853				----				218				1,635				1,853
Financial liabilities:
Deposits			678,315				184,359				494,500				----				678,859
Other borrowed funds			31,411				----				31,621				----				31,621
Subordinated debentures			8,500				----				5,563				----				5,563
Accrued interest payable			496				3				493				----				496

						Fair Value Measurements at December 31, 2015 Using:
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents		$	45,530			$	45,530			$	----			$	----			$	45,530
Certificates of deposit in financial institutions			1,715				----				1,715				----				1,715
Securities available for sale			91,651				----				91,651				----				91,651
Securities held to maturity			19,903				----				9,814				10,976				20,790
Federal Home Loan Bank and Federal Reserve Bank stock			6,576				N/A				N/A				N/A				N/A
Loans, net			579,104				----				----				582,427				582,427
Accrued interest receivable			1,819				----				224				1,595				1,819
Financial liabilities:
Deposits			660,746				176,499				484,636				----				661,135
Other borrowed funds			23,946				----				23,672				----				23,672
Subordinated debentures			8,500				----				5,368				----				5,368
Accrued interest payable			449				4				445				----				449

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- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

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+ References

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