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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Assets Measured at Fair Value on Recurring and Nonrecurring Basis

The table below presents the balances of assets measured at fair value on a recurring and nonrecurring basis as of September 30, 2012 and December 31, 2011. The Company had no liabilities measured at fair value as of September 30, 2012 or December 31, 2011.

		Carrying Value
		Level 1				Level 2				Level 3				Total
		(In thousands)
September 30, 2012
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	0			$	22,551			$	0			$	22,551
Agency CMO			0				24,357				0				24,357
Privately-issued CMO			0				657				0				657
Agency notes and bonds			0				42,448				0				42,448
Municipal obligations			0				30,061				0				30,061
Mutual funds			3,301				0				0				3,301
Total securities available for sale		$	3,301			$	120,074			$	0			$	123,375
Assets Measured on a Nonrecurring Basis
Impaired loans		$	0			$	0			$	6,341			$	6,341
Loans held for sale			0				2,306				0				2,306
Foreclosed real estate			0				0				420				420
December 31, 2011
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	0			$	12,220			$	0			$	12,220
Agency CMO			0				23,288				0				23,288
Privately-issued CMO			0				880				0				880
Agency notes and bonds			0				42,363				0				42,363
Municipal obligations			0				27,301				0				27,301
Mutual funds			5,388				0				0				5,388
Total securities available for sale		$	5,388			$	106,052			$	0			$	111,440
Assets Measured on a Nonrecurring Basis
Impaired loans		$	0			$	0			$	6,107			$	6,107
Loans held for sale			0				2,909				0				2,909
Foreclosed real estate			0				0				661				661

Estimated Fair Values of Financial Instruments

		September 30, 2012								December 31, 2011
		Carrying				Fair				Carrying				Fair
		Amount				Value				Amount				Value
						(In thousands)
Financial assets:
Cash and cash equivalents		$	22,695			$	22,695			$	18,923			$	18,923
Securities available for sale			123,375				123,375				111,440				111,440
Securities held to maturity			14				14				16				16
Loans held for sale			2,306				2,364				2,909				2,966
Loans, net			280,967				285,564				276,047				287,624
Federal Home Loan Bank stock			2,820				2,820				2,820				2,820
Accrued interest receivable			1,782				1,782				1,801				1,801
Financial liabilities:
Deposits			384,067				385,147				364,374				367,359
Retail repurchase agreements			9,112				9,112				9,125				9,125
Advances from Federal Home
Loan Bank			10,100				10,100				12,350				12,840
Accrued interest payable			320				320				413				413
Off-balance-sheet financial instruments:
Asset related to commitments to extend credit			0				0				0				48

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 and/or nonrecurring 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 Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-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 157

-Paragraph 32

-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 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

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X

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-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 18

-Subparagraph c(2), d, e, f

-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

-Name Statement of Financial Accounting Standard (FAS)

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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

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

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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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