FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2012. The Company had no liabilities measured at fair value as of December 31, 2012.


	Carrying Value
	Level 1		Level 2		Level 3		Total
	(In thousands)
December 31, 2012:
*Assets Measured on a Recurring Basis*
Securities available for sale:
Agency mortgage-backed securities	$	0	$	23,206	$	0	$	23,206
Agency CMO		0		22,660		0		22,660
Agency notes and bonds		0		38,553		0		38,553
Municipal obligations		0		34,317		0		34,317
Mutual funds		4,237		0		0		4,237

Total securities available for sale	$	4,237	$	118,736	$	0	$	122,973

*Assets Measured on a Nonrecurring Basis*
Impaired loans:
Residential real estate	$	0	$	0	$	2,157	$	2,157
Land		0		0		125		125
Construction		0		0		403		403
Commercial real estate		0		0		2,561		2,561
Commercial business		0		0		678		678
Home equity and second mortgage		0		0		7		7

Total impaired loans	$	0	$	0	$	5,931	$	5,931

Loans held for sale	$	0	$	3,609	$	0	$	3,609
Foreclosed real estate:
Residential real estate	$	0	$	0	$	258	$	258
Land		0		0		37		37

Total foreclosed real estate	$	0	$	0	$	295	$	295

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


	Carrying Value
	Level 1		Level 2		Level 3		Total
	(In thousands)
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:
Residential real estate	$	0	$	0	$	2,098	$	2,098
Land		0		0		5		5
Construction		0		0		247		247
Commercial real estate		0		0		2,314		2,314
Commercial business		0		0		992		992
Home equity and second mortgage		0		0		87		87

Total impaired loans	$	0	$	0	$	5,743	$	5,743

Loans held for sale	$	0	$	2,909	$	0	$	2,909
Foreclosed real estate:
Residential real estate	$	0	$	0	$	453	$	453
Commercial real estate		0		0		35		35
Home equity and second mortgage		0		0		173		173

Total foreclosed real estate	$	0	$	0	$	661	$	661

- 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).

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