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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2016
Fair Value [Abstract] |
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities |
﻿ |  |
﻿ | Fair Value Measurements at September 30, 2016 using Significant Other Observable Inputs
﻿ | (Level 2)
﻿ | (unaudited)
﻿Financial Assets: |  |
﻿Securities available for sale: |  |
﻿Issued by U.S. government-sponsored entities and agencies: |  |
﻿U.S. Treasury | $ | 8,609
﻿Mortgage-backed securities - residential |  | 392
﻿Collateralized mortgage obligations |  | 225
﻿Total securities available for sale | $ | 9,226
﻿ |  |
﻿Loans held for sale |  | 2,466
﻿ |  |
﻿Yield maintenance provisions (embedded derivatives) | $ | 214
﻿ |  |
﻿Interest rate lock commitments | $ | 19
﻿ |  |
﻿Financial Liabilities: |  |
﻿Interest-rate swaps | $ | 214
﻿ ﻿ ﻿
﻿ |  |
﻿ | Fair Value Measurements at December 31, 2015 using Significant Other Observable Inputs
﻿ | (Level 2)
﻿Financial Assets: |  |
﻿Securities available for sale: |  |
﻿Issued by U.S. government-sponsored entities and agencies: |  |
﻿U.S. Treasury | $ | 8,536
﻿Mortgage-backed securities - residential |  | 481
﻿Collateralized mortgage obligations |  | 351
﻿Total securities available for sale | $ | 9,368
﻿ |  |
﻿Loans held for sale |  | 889
﻿ |  |
﻿Yield maintenance provisions (embedded derivatives) | $ | 213
﻿ |  |
﻿Interest rate lock commitments | $ | 8
﻿ |  |
﻿Financial Liabilities: |  |
﻿Interest-rate swaps | $ | 213
﻿
Assets measured at fair value on a non-recurring basis |
﻿ |  |
﻿Fair Value Measurements at September 30, 2016 Using
﻿Significant Unobservable Inputs (Level 3)
﻿(unaudited)
﻿Impaired loans: |  |
﻿Commercial | $ | 134
﻿Real Estate: |  |
﻿Single-family residential |  | 123
﻿Multi-family residential |  | 39
﻿Commercial: |  |
﻿Non-owner occupied |  | 2,172
﻿Owner occupied |  | 203
﻿Land |  | 215
﻿Total impaired loans | $ | 2,886
﻿ ﻿ ﻿ ﻿
﻿ |  |
﻿Fair Value Measurements at December 31, 2015 Using
﻿Significant Unobservable Inputs (Level 3)
﻿ |  |
﻿Impaired loans: |  |
﻿Commercial | $ | 143
﻿Real Estate: |  |
﻿Single-family residential |  | 128
﻿Multi-family residential |  | 45
﻿Commercial: |  |
﻿Non-owner occupied |  | 2,215
﻿Owner occupied |  | 213
﻿Land |  | 245
﻿Total impaired loans | $ | 2,989
﻿
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 September 30, 2016 (unaudited):
﻿ |  |  |  |  |  |  |  |
﻿ |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Inputs |  | (Range) Weighted Average
﻿Impaired loans: |  |  |  |  |  |  |  |
﻿Commercial | $ | 134 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | 3.48%
﻿Real estate: |  |  |  |  |  |  |  |
﻿Single-family residential |  | 123 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (1.81% , 3.61%) 2.91%
﻿Multi-family residential |  | 39 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | 9.64%
﻿Commercial: |  |  |  |  |  |  |  |
﻿Non-owner occupied |  | 2,172 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (1.10%, 5.74%) 1.35%
﻿Owner occupied |  | 203 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | -4.46%
﻿Land |  | 215 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (-2.73%, 1.50%) -.43%
﻿ ﻿ ﻿ 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 December 31, 2015: ﻿
﻿ |  |  |  |  |  |  |  |
﻿ |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Inputs |  | (Range) Weighted Average
﻿Impaired loans: |  |  |  |  |  |  |  |
﻿Commercial | $ | 143 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | 1.10%
﻿Real estate: |  |  |  |  |  |  |  |
﻿Single -family residential |  | 128 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (-1.23% , 4.63%) -.17%
﻿Multi-family residential |  | 45 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | 5.74%
﻿Commercial: |  |  |  |  |  |  |  |
﻿Non-owner occupied |  | 2,215 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (1.10%, 5.74%) 1.35%
﻿Owner occupied |  | 213 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | -29.30%
﻿Land |  | 245 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (-1.89%, 2.54%) .08%
﻿
Aggregate fair value, contractual balance (including accrued interest) and gain or loss |
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ | September 30, 2016 |  | December 31, 2015 |
﻿ | (unaudited) |  |  |  |
﻿Aggregate fair value | $ | 2,466 |  | $ | 889 |
﻿Contractual balance |  | 2,459 |  |  | 884 |
﻿Gain (loss) |  | 7 |  |  | 5 |
﻿
Amount of gains and losses from changes in fair value included in earnings |
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ | Three months ended September 30, |  | Nine months ended September 30,
﻿ | 2016 |  | 2015 |  | 2016 |  | 2015
﻿ | (unaudited) |  | (unaudited)
﻿Interest income | $ | 25 |  | $ | 14 |  | $ | 40 |  | $ | 54
﻿Interest expense |  | - |  |  | - |  |  | - |  |  | -
﻿Change in fair value |  | (2) |  |  | (14) |  |  | 2 |  |  | (11)
﻿Total change in fair value | $ | 23 |  | $ | - |  | $ | 42 |  | $ | 43
﻿
Carrying amounts and estimated fair values of financial instruments |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Fair Value Measurements at September 30, 2016 Using (unaudited):
﻿ | Carrying |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents | $ | 52,302 |  | $ | 52,302 |  | $ | - |  | $ | - |  | $ | 52,302
﻿Interest-bearing deposits in other financial institutions |  | 100 |  |  | 100 |  |  | - |  |  | - |  |  | 100
﻿Securities available for sale |  | 9,226 |  |  | - |  |  | 9,226 |  |  | - |  |  | 9,226
﻿Loans held for sale |  | 2,466 |  |  | - |  |  | 2,466 |  |  | - |  |  | 2,466
﻿Loans, net |  | 329,376 |  |  | - |  |  | - |  |  | 328,979 |  |  | 328,979
﻿FHLB stock |  | 1,942 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a
﻿Accrued interest receivable |  | 925 |  |  | 2 |  |  | 17 |  |  | 906 |  |  | 925
﻿Yield maintenance provisions (embedded derivatives) |  | 214 |  |  | - |  |  | 214 |  |  | - |  |  | 214
﻿Interest rate lock commitments |  | 19 |  |  | - |  |  | 19 |  |  | - |  |  | 19
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Deposits | $ | (345,854) |  | $ | (172,648) |  |  | (173,764) |  | $ | - |  | $ | (346,412)
﻿FHLB advances and other borrowings |  | (15,500) |  |  | - |  |  | (15,880) |  |  | - |  |  | (15,880)
﻿Advances by borrowers for taxes and insurance |  | (349) |  |  | - |  |  | - |  |  | (349) |  |  | (349)
﻿Subordinated debentures |  | (5,155) |  |  | - |  |  | (3,492) |  |  | - |  |  | (3,492)
﻿Accrued interest payable |  | (64) |  |  | - |  |  | (64) |  |  | - |  |  | (64)
﻿Interest-rate swaps |  | (214) |  |  | - |  |  | (214) |  |  | - |  |  | (214)
﻿ ﻿ The carrying amounts and estimated fair values of financial instruments at December 31, 2015 were as follows:
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Fair Value Measurements at December 31, 2015 Using:
﻿ | Carrying |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents | $ | 25,895 |  | $ | 25,895 |  | $ | - |  | $ | - |  | $ | 25,895
﻿Securities available for sale |  | 9,368 |  |  | - |  |  | 9,368 |  |  | - |  |  | 9,368
﻿Loans held for sale |  | 889 |  |  | - |  |  | 889 |  |  | - |  |  | 889
﻿Loans, net |  | 297,064 |  |  | - |  |  | - |  |  | 295,498 |  |  | 295,498
﻿FHLB stock |  | 1,942 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a
﻿Accrued interest receivable |  | 831 |  |  | 1 |  |  | 21 |  |  | 809 |  |  | 831
﻿Yield maintenance provisions (embedded derivatives) |  | 213 |  |  | - |  |  | 213 |  |  | - |  |  | 213
﻿Interest rate lock commitments |  | 8 |  |  | - |  |  | 8 |  |  | - |  |  | 8
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Deposits | $ | (290,467) |  | $ | (147,523) |  | $ | (143,236) |  | $ | - |  | $ | (290,759)
﻿FHLB advances and other borrowings |  | (14,500) |  |  | - |  |  | (14,693) |  |  | - |  |  | (14,693)
﻿Advances by borrowers for taxes and insurance |  | (656) |  |  | - |  |  | - |  |  | (656) |  |  | (656)
﻿Subordinated debentures |  | (5,155) |  |  | - |  |  | (2,269) |  |  | - |  |  | (2,269)
﻿Accrued interest payable |  | (44) |  |  | - |  |  | (44) |  |  | - |  |  | (44)
﻿Interest-rate swaps |  | (213) |  |  | - |  |  | (213) |  |  | - |  |  | (213)
﻿

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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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 Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1),(d) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + Details
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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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611 + Details
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- Definition 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 Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14217-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -Subparagraph (c)(2),(d),(e) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a),(c)(1),(d)(1) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
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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=36462937&loc=d3e19190-110258 + Details
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