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Fair Value (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value [Abstract]

Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities

	Fair Value Measurements at March 31, 2014 using Significant Other Observable Inputs(Level 2)
Financial Assets:
Securities available for sale:
Corporate debt	$	4,351
State and municipal		1,889
Issued by U.S. government-sponsored entities and agencies:
Mortgage-backed securities - residential		882
Collateralized mortgage obligations		1,952
Total securities available for sale	$	9,074
Loans held for sale		4,090
Yield maintenance provisions (embedded derivatives)	$	553
Interest rate lock commitments	$	32
Financial Liabilities:
Interest-rate swaps	$	553

	Fair Value Measurements at December 31, 2013 using Significant Other Observable Inputs(Level 2)
Financial Assets:
Securities available for sale:
Corporate debt	$	4,363
State and municipal		1,919
Issued by U.S. government-sponsored entities and agencies:
Mortgage-backed securities - residential		983
Collateralized mortgage obligations		2,407
Total securities available for sale	$	9,672
Loans held for sale		3,285
Yield maintenance provisions (embedded derivatives)	$	599
Interest rate lock commitments	$	16
Financial Liabilities:
Interest-rate swaps	$	599

Financial instruments measured at fair value on a non-recurring basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at March 31, 2014:

		Fair Value		Valuation Technique(s)		Unobservable Inputs		Range (Weighted Average)
Impaired loans:
Commercial real estate:
Single-family residential		310		Comparable sales approach		Adjustment for differences between the comparable market transactions		(-17.67% - 2.35) -8.33%
Multi-family residential		1,301		Comparable sales approach		Adjustment for differences between the comparable market transactions		-20.59%
Commercial:
Owner occupied		231		Comparable sales approach		Adjustment for differences between the comparable market transactions		-12.21%
Land		609		Comparable sales approach		Adjustment for differences between the comparable market transactions		(-8.59% - 8.10%) 1.44%

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measures at fair value on a non-recurring basis at December 31, 2013:

		Fair Value		Valuation Technique(s)		Unobservable Inputs		Range (Weighted Average)
Impaired loans:
Commercial real estate:
Single -family residential		316		Comparable sales approach		Adjustment for differences between the comparable market transactions		(-17.67% - 2.35) -8.33%
Multi-family residential		1,301		Comparable sales approach		Adjustment for differences between the comparable market transactions		-20.59%
Commercial:
Owner occupied		234		Comparable sales approach		Adjustment for differences between the comparable market transactions		-12.21%
Land		629		Comparable sales approach		Adjustment for differences between the comparable market transactions		(-8.59% - 8.10%) 1.44%

Aggregate fair value, contractual balance (including accrued interest) and gain or loss

		March 31, 2014			December 31, 2013
Aggregate fair value	$	4,090		$	3,285
Contractual balance		4,059			3,270
Gain (loss)		31			15

Amount of gains and losses from changes in fair value included in earnings

	Three months ended  March 31,
	2014			2013
Interest income	$	16		$	5
Interest expense		-			-
Change in fair value		16			(11)
Total change in fair value	$	32		$	(6)

X

- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

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- Definition

Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph d

-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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-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 application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph d, e

-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.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 17

-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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-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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-Publisher FASB

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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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-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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-Publisher FASB

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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 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

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-Publisher FASB

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