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Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Of Assets and Liabilities [Abstract]

Summary of fair value measurements of assets measured at fair value on a recurring basis

Fair Value Measurements Using:
($ in thousands) Available-for-Sale Securities:		Fair Values at 3/31/2015				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	15,071			$	-			$	15,071			$	-
Mortgage-backed securities			59,827				-				59,827				-
State and political subdivisions			19,135				-				19,135				-
Equity securities			23								23
Interest rate contracts - assets			502								502
Interest rate contracts - liabilities			(502	)							(502	)

Fair Value Measurements Using:
($ in thousands) Available-for-Sale Securities:		Fair Values at 12/31/2014				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	15,307			$	-			$	15,307			$	-
Mortgage-backed securities			50,740				-				50,740				-
State and political subdivisions			19,170				-				19,170				-
Equity securities			23								23
Interest rate contracts - assets			273								273
Interest rate contracts - liabilities			(273	)							(273	)

Summary of fair value measurements of assets measured at fair value on a non-recurring basis

Fair Value Measurements Using:
($ in thousands) Description		Fair Values at 3/31/2015				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	1,551			$	-			$	-			$	1,551
Mortgage Servicing Rights			2,841				-				-				2,841

Fair Value Measurements Using:
($ in thousands) Description		Fair Values at 12/31/2014				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	2,538			$	-			$	-			$	2,538
Mortgage Servicing Rights			3,037				-				-				3,037

Summary of quantitative information about unobservable inputs used in recurring and nonrecurring

Fair Value at

Valuation

Range (Weighted

($'s in thousands)

3/31/2015

Technique

Unobservable Inputs

Average)

Collateral-dependent impaired loans

$

1,551

Market comparable

Comparability adjustments (%)

Not available

properties

Mortgage servicing rights

2,841

Discounted cash flow

Discount Rate

9.50

%

Constant prepayment rate

10.70

%

P&I earnings credit

0.17

%

T&I earnings credit

1.63

%

Inflation for cost of servicing

1.50

%

Fair Value at

Valuation

Range (Weighted

($'s in thousands)

12/31/2014

Technique

Unobservable Inputs

Average)

Collateral-dependent impaired loans

$

2,538

Market comparable

Comparability adjustments (%)

Not available

properties

Mortgage servicing rights

3,037

Discounted cash flow

Discount Rate

9.50

%

Constant prepayment rate

10.30

%

P&I earnings credit

0.17

%

T&I earnings credit

1.75

%

Inflation for cost of servicing

1.50

%

Summary of estimated fair values of company's financial instruments

		March 31, 2015
		Carrying				Fair Value Measurements Using
		Amount				(Level 1)				(Level 2)				(Level 3)
Financial assets
Cash and cash equivalents		$	49,765			$	49,765			$	-			$	-
Loans held for sale			8,667				-				8,869				-
Loans, net of allowance for loan losses			504,954				-				-				506,021
Federal Reserve and FHLB Bank stock			3,748				-				3,748				-
Mortgage Servicing Rights			5,860				-				-				6,451
Accrued interest receivable			1,554				-				1,554				-
Financial liabilities
Deposits		$	578,283			$	96,638			$	483,981			$	-
FHLB Advances			30,000				-				30,099				-
Short-term borrowings			14,648				-				14,648				-
Trust preferred securities			10,310				-				7,514				-
Accrued interest payable			334				-				334				-

		December 31, 2014
		Carrying				Fair Value Measurements Using
		Amount				(Level 1)				(Level 2)				(Level 3)
Financial assets
Cash and due from banks		$	28,197			$	28,197			$	-			$	-
Loans held for sale			5,168				-				5,315				-
Loans, net of allowance for loan losses			509,565				-				-				510,314
Federal Reserve and FHLB Bank stock, at cost			3,748				-				3,748				-
Mortgage Servicing Rights			5,704				-				-				6,358
Accrued interest receivable			1,346				-				1,346				-
Financial liabilities
Deposits		$	550,906			$	97,853			$	455,383			$	-
FHLB advances			30,000				-				29,907				-
Short-term borrowings			12,740				-				12,740				-
Trust preferred securities			10,310				-				7,206				-
Accrued interest payable			264				-				264				-

X

- 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

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- 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 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

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

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-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258



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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

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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-Paragraph 2

-Subparagraph (bbb)

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