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Fair Value of Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

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

Fair value estimates of the Company’s financial instruments as of March 31, 2013 and December 31, 2012, including methods and assumptions utilized, are set forth below:

(Dollars in thousands)		As of March 31,								As of December 31,
		2013								2012
		Carrying				Estimated				Carrying				Estimated
		amount				fair value				amount				fair value
Financial assets:
Cash and cash equivalents		$	35,942			$	35,942			$	14,920			$	14,920
Investment securities:
Available-for-sale			231,986				231,986				213,300				213,300
Other securities			5,229				5,229				5,238				5,238
Loans, net			314,269				317,453				315,914				317,335
Loans held for sale, net			5,313				5,331				7,163				7,179
Mortgage servicing rights			1,790				2,152				1,679				1,859
Derivative financial instruments			370				370				334				334
Accrued interest receivable			2,719				2,719				2,589				2,589
Financial liabilities:
Non-maturity deposits		$	341,377			$	341,377			$	311,565			$	311,565
Time deposits			166,235				167,046				170,935				171,961
FHLB borrowings			35,717				39,484				38,426				42,904
Other borrowings			22,795				20,474				21,541				19,273
Derivative financial instruments			51				51				28				28
Accrued interest payable			389				389				410				410

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

The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at March 31, 2013 and December 31, 2012, allocated to the appropriate fair value hierarchy:

(Dollars in thousands)						As of March 31, 2013
						Fair value hierarchy
		Total				Level 1				Level 2				Level 3
Assets:
Available-for-sale securities
U. S. treasury securities		$	501			$	501			$	-			$	-
U. S. federal agency obligations			14,620				-				14,620				-
Municipal obligations, tax exempt			82,727				-				82,727				-
Municipal obligations, taxable			48,388				-				48,388				-
Mortgage-backed securities			77,989				-				77,989				-
Common stocks			1,007				1,007				-				-
Certificates of deposit			6,754				-				6,754				-
Derivative financial instruments			370				-				370				-
Liabilities:
Derivative financial instruments		$	51			$	-			$	51			$	-

(Dollars in thousands)						As of December 31, 2012
						Fair value hierarchy
		Total				Level 1				Level 2				Level 3
Assets:
Available-for-sale securities
U. S. federal agency obligations		$	8,848			$	-			$	8,848			$	-
Municipal obligations, tax exempt			77,286				-				77,286				-
Municipal obligations, taxable			38,142				-				38,142				-
Mortgage-backed securities			81,848				-				81,848				-
Common stocks			902				902				-				-
Certificates of deposit			6,274				-				6,274				-
Derivative financial instruments			334				-				334				-
Liabilities:
Derivative financial instruments		$	28			$	-			$	28			$	-

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table represents the Company’s financial instruments that are measured at fair value on a non-recurring basis as of March 31, 2013 and December 31, 2012 allocated to the appropriate fair value hierarchy:

(Dollars in thousands)
						As of March 31, 2013
						Fair value hierarchy												Total gains
		Total				Level 1				Level 2				Level 3				/ (losses)
Assets:
Impaired loans		$	12,759			$	-			$	-			$	12,759			$	13
Loans held for sale, net			5,331				-				5,331				-				-
Mortgage servicing rights			2,152				-				-				2,152				-
Real estate owned, net		$	2,214			$	-			$	-			$	2,214			$	(33	)

						As of December 31, 2012
						Fair value hierarchy												Total gains
		Total				Level 1				Level 2				Level 3				/ (losses)
Assets:
Impaired loans		$	13,632			$	-			$	-			$	13,632			$	(758	)
Loans held for sale, net			7,179				-				7,179				-				-
Mortgage servicing rights			1,859				-				-				1,859				-
Real estate owned, net		$	2,444			$	-			$	-			$	2,444			$	(175	)

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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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-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.



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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.

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