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

3 Months Ended

Mar. 31, 2014

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

Fair value estimates of the Company’s financial instruments as of March 31, 2014 and December 31, 2013, including methods and assumptions utilized, are set forth below:

(Dollars in thousands)	As of March 31,				As of December 31,
	2014				2013
	Carrying		Estimated		Carrying		Estimated
	amount		fair value		amount		fair value
Financial assets:
Cash and cash equivalents	$	26,337	$	26,337	$	29,735	$	29,735
Investment securities:
Available-for-sale		301,892		301,892		300,246		300,246
Other securities		4,660		4,660		5,271		5,271
Loans, net		411,551		418,241		414,016		420,475
Loans held for sale, net		9,247		9,247		7,864		7,864
Mortgage servicing rights		2,321		3,381		2,377		3,491
Derivative financial instruments		462		462		265		265
Accrued interest receivable		3,391		3,391		2,581		2,581

Financial liabilities:
Non-maturity deposits	$	497,267	$	497,267	$	501,291	$	501,291
Time deposits		180,915		180,782		186,195		186,222
FHLB borrowings		35,680		37,981		35,689		38,087
Other borrowings		35,863		32,913		33,055		29,351
Derivative financial instruments		47		47		78		78
Accrued interest payable		316		316		335		335

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, 2014 and December 31, 2013, allocated to the appropriate fair value hierarchy:

(Dollars in thousands)			As of March 31, 2014
			Fair value hierarchy
	Total		Level 1		Level 2		Level 3
Assets:
Available-for-sale securities
U. S. treasury securities	$	500	$	500	$	-	$	-
U. S. federal agency obligations		18,768		-		18,768		-
Municipal obligations, tax exempt		92,209		-		92,209		-
Municipal obligations, taxable		53,595		-		53,595		-
Mortgage-backed securities		127,298		-		127,298		-
Common stocks		1,099		1,099		-		-
Certificates of deposit		8,423		-		8,423		-
Other securities		4,660		-		-		4,660
Derivative financial instruments		462		-		462		-
Liabilities:
Derivative financial instruments	$	47	$	-	$	47	$	-

(Dollars in thousands)			As of December 31, 2013
			Fair value hierarchy
	Total		Level 1		Level 2		Level 3
Assets:
Available-for-sale securities
U. S. treasury securities	$	500	$	500	$	-	$	-
U. S. federal agency obligations		19,643		-		19,643		-
Municipal obligations, tax exempt		91,793		-		91,793		-
Municipal obligations, taxable		52,472		-		52,472		-
Mortgage-backed securities		125,593		-		125,593		-
Common stocks		1,103		1,103		-		-
Certificates of deposit		9,142		-		9,142		-
Other securities		5,271		-		-		5,271
Derivative financial instruments		265		-		265		-
Liabilities:
Derivative financial instruments	$	187	$	-	$	187	$	-

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, 2014 and December 31, 2013 allocated to the appropriate fair value hierarchy:

(Dollars in thousands)
			As of March 31, 2014						Total
			Fair value hierarchy						(losses)/
	Total		Level 1		Level 2		Level 3		gains
Assets:
Impaired loans	$	14,372	$	-	$	-	$	14,372	$	(104)
Loans held for sale, net		9,247		-		9,247		-		(22)
Mortgage servicing rights		3,381		-		-		3,381		-
Real estate owned, net	$	245	$	-	$	-	$	245	$	-

			As of December 31, 2013						Total
			Fair value hierarchy						(losses)/
	Total		Level 1		Level 2		Level 3		gains
Assets:
Impaired loans	$	15,805	$	-	$	-	$	15,805	$	(564)
Loans held for sale, net		7,864		-		7,864		-		(41)
Mortgage servicing rights		3,491		-		-		3,491		212
Real estate owned, net	$	400	$	-	$	-	$	400	$	(135)

- Definition

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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- Definition

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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