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6. Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2016
Fair Value Disclosures [Abstract] |
Available for sale securities measured at fair value on a recurring basis |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
|  | September 30, 2016
|  | Fair Value Measurements |  |  | Level 1 Valuation |  |  | Level 2 Valuation |  |  | Level 3 Valuation
Mortgage-backed securities |  | $ | 73,393 |  |  |  | - |  |  |  | 73,393 |  |  |  | -
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  |  | 39,078 |  |  |  | - |  |  |  | 39,078 |  |  |  | -
State and political subdivisions |  |  | 147,142 |  |  |  | - |  |  |  | 147,142 |  |  |  | -
Corporate bonds |  |  | 1,525 |  |  |  | - |  |  |  | 1,525 |  |  |  | -
Trust preferred securities |  |  | 750 |  |  |  | - |  |  |  | - |  |  |  | 750
Equity securities |  |  | 535 |  |  |  | 535 |  |  |  | - |  |  |  | -
Total |  | $ | 262,423 |  |  |  | 535 |  |  |  | 261,138 |  |  |  | 750
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2015
|  | Fair Value Measurements |  |  | Level 1 Valuation |  |  | Level 2 Valuation |  |  | Level 3 Valuation
Mortgage-backed securities |  | $ | 77,887 |  |  |  | - |  |  |  | 77,887 |  |  |  | -
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  |  | 38,417 |  |  |  | - |  |  |  | 38,417 |  |  |  | -
State and political subdivisions |  |  | 148,245 |  |  |  | - |  |  |  | 148,245 |  |  |  | -
Corporate bonds |  |  | 1,906 |  |  |  | - |  |  |  | 1,906 |  |  |  | -
Trust preferred securities |  |  | 750 |  |  |  | - |  |  |  | - |  |  |  | 750
Equity securities |  |  | 1,325 |  |  |  | 1,325 |  |  |  | - |  |  |  | -
Total |  | $ | 268,530 |  |  |  | 1,325 |  |  |  | 266,455 |  |  |  | 750
Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs |
(Dollars in thousands) |  |
|  | Investment Securities Available for Sale
|  | Level 3 Valuation
Balance, beginning of period |  | $ | 750
Change in book value |  |  | -
Change in gain/(loss) realized and unrealized |  |  | -
Purchases/(sales and calls) |  |  | -
Transfers in and/or (out) of Level 3 |  |  | -
Balance, end of period |  | $ | 750
Change in unrealized gain/(loss) for assets still held in Level 3 |  | $ | -
Fair value measurements for mortgage loans held for sale, impaired loans and other real estate on a non-recurring basis |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
|  | Fair Value Measurements September 30, 2016 |  |  | Level 1 Valuation |  |  | Level 2 Valuation |  |  | Level 3 Valuation
Mortgage loans held for sale |  | $ | 2,776 |  |  |  | - |  |  |  | - |  |  |  | 2,776
Impaired loans |  | $ | 26,120 |  |  |  | - |  |  |  | - |  |  |  | 26,120
Other real estate |  | $ | 26 |  |  |  | - |  |  |  | - |  |  |  | 26
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
|  | Fair Value Measurements December 31, 2015 |  |  | Level 1 Valuation |  |  | Level 2 Valuation |  |  | Level 3 Valuation
Mortgage loans held for sale |  | $ | 4,149 |  |  |  | - |  |  |  | - |  |  |  | 4,149
Impaired loans |  | $ | 31,818 |  |  |  | - |  |  |  | - |  |  |  | 31,818
Other real estate |  | $ | 739 |  |  |  | - |  |  |  | - |  |  |  | 739
(Dollars in thousands) |  |  |  |  |  |  |  |
| Fair Value September 30, 2016 | Fair Value December 31, 2015 | Valuation Technique |  | Significant Unobservable Inputs |  | General Range of Significant Unobservable Input Values
Mortgage loans held for sale | $ | 2,776 |  | 4,149 |  | Rate lock commitment |  | N/A |  | N/A
Impaired loans | $ | 26,120 |  | 31,818 |  | Appraised value and discounted cash flows |  | Discounts to reflect current market conditions and ultimate collectability |  | 0 - 25%
Other real estate | $ | 26 |  | 739 |  | Appraised value |  | Discounts to reflect current market conditions and estimated costs to sell |  | 0 - 25%
Carrying amount and estimated fair value of the Company's financial instruments |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Fair Value Measurements at September 30, 2016
|  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 82,844 |  |  |  | 82,844 |  |  |  | - |  |  |  | - |  |  |  | 82,844
Investment securities available for sale |  | $ | 262,423 |  |  |  | 535 |  |  |  | 261,138 |  |  |  | 750 |  |  |  | 262,423
Other investments |  | $ | 3,634 |  |  |  | - |  |  |  | - |  |  |  | 3,634 |  |  |  | 3,634
Mortgage loans held for sale |  | $ | 2,776 |  |  |  | - |  |  |  | - |  |  |  | 2,776 |  |  |  | 2,776
Loans, net |  | $ | 704,974 |  |  |  | - |  |  |  | - |  |  |  | 698,402 |  |  |  | 698,402
Cash surrender value of life insurance |  | $ | 14,853 |  |  |  | - |  |  |  | 14,853 |  |  |  | - |  |  |  | 14,853
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 861,947 |  |  |  | - |  |  |  | - |  |  |  | 855,156 |  |  |  | 855,156
Securities sold under agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
to repurchase |  | $ | 50,920 |  |  |  | - |  |  |  | 50,920 |  |  |  | - |  |  |  | 50,920
FHLB borrowings |  | $ | 43,500 |  |  |  | - |  |  |  | 40,560 |  |  |  | - |  |  |  | 40,560
Junior subordinated debentures |  | $ | 20,619 |  |  |  | - |  |  |  | 20,619 |  |  |  | - |  |  |  | 20,619
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Fair Value Measurements at December 31, 2015
|  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 39,763 |  |  |  | 39,763 |  |  |  | - |  |  |  | - |  |  |  | 39,763
Investment securities available for sale |  | $ | 268,530 |  |  |  | 1,325 |  |  |  | 266,455 |  |  |  | 750 |  |  |  | 268,530
Other investments |  | $ | 3,636 |  |  |  | - |  |  |  | - |  |  |  | 3,636 |  |  |  | 3,636
Mortgage loans held for sale |  | $ | 4,149 |  |  |  | - |  |  |  | - |  |  |  | 4,149 |  |  |  | 4,149
Loans, net |  | $ | 679,502 |  |  |  | - |  |  |  | - |  |  |  | 683,540 |  |  |  | 683,540
Cash surrender value of life insurance |  | $ | 14,546 |  |  |  | - |  |  |  | 14,546 |  |  |  | - |  |  |  | 14,546
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 832,175 |  |  |  | - |  |  |  | - |  |  |  | 827,874 |  |  |  | 827,874
Securities sold under agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
to repurchase |  | $ | 27,874 |  |  |  | - |  |  |  | 27,874 |  |  |  | - |  |  |  | 27,874
FHLB borrowings |  | $ | 43,500 |  |  |  | - |  |  |  | 43,144 |  |  |  | - |  |  |  | 43,144
Junior subordinated debentures |  | $ | 20,619 |  |  |  | - |  |  |  | 20,619 |  |  |  | - |  |  |  | 20,619

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- 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=66048111&loc=d3e19190-110258 + Details
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