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

12 Months Ended

Dec. 31, 2015

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

Fair value estimates of the Company’s financial instruments as of December 31, 2015 and 2014, including methods and assumptions utilized, are set forth below:

	As of December 31, 2015
	Carrying
	amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	13,569	$	13,569	$	-	$	-	$	13,569
Investment securities available for sale		353,438		8,003		345,435		-		353,438
Bank stocks, at cost		4,497		n/a		n/a		n/a		n/a
Loans, net		419,923		-		-		420,061		420,061
Derivative financial instruments		797		-		797		-		797
Accrued interest receivable		4,002		22		2,117		1,863		4,002

Financial liabilities:
Non-maturity deposits	$	(570,784)	$	(570,784)	$	-	$	-		(570,784)
Time deposits		(143,943)		-		(142,924)		-		(142,924)
FHLB borrowings		(37,600)		-		(38,215)		-		(38,215)
Subordinated debentures		(21,084)		-		(19,051)		-		(19,051)
Other borrowings		(11,974)		-		(11,974)		-		(11,974)
Accrued interest payable		(287)		-		(287)		-		(287)

(Dollars in thousands)	As of December 31, 2014
	Carrying
	amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	12,760	$	12,760	$	-	$	-	$	12,760
Investment securities available-for-sale		348,931		7,813		341,118		-		348,931
Bank stocks, at cost		4,007		n/a		n/a		n/a		n/a
Loans, net		416,190		-		-		423,318		423,318
Loans held for sale		10,671		-		10,726		-		10,726
Derivative financial instruments		260		-		260		-		260
Accrued interest receivable		3,670		22		1,750		1,898		3,670

Financial liabilities:
Non-maturity deposits	$	(535,496)	$	(535,496)	$	-	$	-		(535,496)
Time deposits		(169,059)		-		(168,642)		-		(168,642)
FHLB borrowings		(43,253)		-		(45,287)		-		(45,287)
Subordinated debentures		(20,884)		-		(18,506)		-		(18,506)
Other borrowings		(12,410)		-		(12,410)		-		(12,410)
Accrued interest payable		(298)		-		(298)		-		(298)

Fair Value, Assets Measured On Recurring Basis [Table Text Block]

The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at December 31, 2015 and 2014, allocated to the appropriate fair value hierarchy:

(Dollars in thousands)			As of December 31, 2015
			Fair value hierarchy
	Total		Level 1		Level 2		Level 3
Assets:
Available-for-sale securities
U. S. treasury securities	$	6,517	$	6,517	$	-	$	-
U. S. federal agency obligations		29,920		-		29,920		-
Municipal obligations, tax exempt		137,941		-		137,941		-
Municipal obligations, taxable		81,890		-		81,890		-
Agency mortgage-backed securities		85,985		-		85,985		-
Common stocks		1,486		1,486		-		-
Certificates of deposit		9,699		-		9,699		-
Derivative financial instruments		797		-		797		-

(Dollars in thousands)			As of December 31, 2014
			Fair value hierarchy
	Total		Level 1		Level 2		Level 3
Assets:
Available-for-sale securities
U. S. treasury securities	$	6,530	$	6,530	$	-	$	-
U. S. federal agency obligations		25,743		-		25,743		-
Municipal obligations, tax exempt		110,509		-		110,509		-
Municipal obligations, taxable		63,922		-		63,922		-
Agency mortgage-backed securities		135,519		-		135,519		-
Common stocks		1,283		1,283		-		-
Certificates of deposit		5,425		-		5,425		-
Derivative financial instruments		260		-		260		-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [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 December 31, 2015 and 2014 allocated to the appropriate fair value hierarchy:

(Dollars in thousands)
			As of December 31, 2015						Total
			Fair value hierarchy						(losses)/
	Total		Level 1		Level 2		Level 3		gains
Assets:
Impaired loans:
One-to-four family residential real estate	$	266	$	-	$	-	$	266	$	(137)
Consumer loans		16		-		-		16		6
Loans held for sale		14,465		-		14,465		-		(10)

			As of December 31, 2014						Total
			Fair value hierarchy						(losses)/
	Total		Level 1		Level 2		Level 3		gains
Assets:
Impaired loans:
One-to-four family residential real estate	$	1,135	$	-	$	-	$	1,135	$	(214)
Commercial real estate		30		-		-		30		(17)
Commercial loans		206		-		-		206		(28)
Agriculture loans		134		-		-		134		(5)
Consumer loans		30		-		-		30		(5)
Real estate owned:
One-to-four family residential real estate		37		-		-		37		(25)
Commercial real estate		45		-		-		45		(9)

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis as of December 31, 2015 and 2014.

(Dollars in thousands)
	Fair value		Valuation technique	Unboservable inputs	Range
As of December 31, 2015
Impaired loans:
One-to-four family residential real estate	$	266	Sales comparison	Adjustment to appraised value		0%-40	%
Consumer loans		16	Sales comparison	Adjustment to comparable sales		0	%

As of December 31, 2014
Impaired loans:
One-to-four family residential real estate	$	1,135	Sales comparison	Adjustment to appraised value		10%-47	%
Commercial real estate		30	Sales comparison	Adjustment to appraised value		28	%
Commercial loans		206	Sales comparison	Adjustment to comparable sales		15%-60	%
Agriculture loans		134	Sales comparison	Adjustment to appraised value		60	%
Consumer loans		30	Sales comparison	Adjustment to comparable sales		20	%
Real estate owned:
One-to-four family residential real estate		37	Sales comparison	Adjustment to appraised value		10	%
Commercial real estate		45	Sales comparison	Adjustment to appraised value		10	%