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Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value of Assets and Liabilities [Abstract]

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

($ in thousands) Available-for-Sale Securities:		Fair Values at 9/30/17				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	13,031			$	-			$	13,031			$	-
Mortgage-backed securities			57,776				-				57,776				-
State and political subdivisions			14,427				-				14,427				-
Equity securities			70				-				70				-
Interest rate contracts - assets			659				-				659				-
Interest rate contracts - liabilities			(659	)			-				(659	)			-

($ in thousands) Available-for-Sale Securities:		Fair Values at 12/31/2016				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	13,358			$	-			$	13,358			$	-
Mortgage-backed securities			61,603				-				61,603				-
State and political subdivisions			15,097				-				15,097				-
Equity securities			70				-				70				-
Interest rate contracts - assets			623				-				623				-
Interest rate contracts - liabilities			(623	)			-				(623	)			-

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

($ in thousands) Description		Fair Values at 9/30/2017				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	633			$	-			$	-			$	633
Mortgage Servicing Rights			3,735				-				-				3,735

($ in thousands) Description		Fair Values at 12/31/2016				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	786			$	-			$	-			$	786
Mortgage Servicing Rights			1,993				-				-				1,993

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

Fair Value at

Valuation

Range (Weighted

($’s in thousands)

9/30/2017

Technique

Unobservable Inputs

Average)

Collateral-dependent impaired loans

$

633

Market comparable

Comparability adjustments (%)

Not available

properties

Mortgage servicing rights

3,735

Discounted cash flow

Discount Rate

9.52

%

Constant prepayment rate

8.43

%

P&I earnings credit

1.23

%

T&I earnings credit

1.88

%

Inflation for cost of servicing

1.50

%

Fair Value at

Valuation

Range (Weighted

($’s in thousands)

12/31/2016

Technique

Unobservable Inputs

Average)

Collateral-dependent impaired loans

$

786

Market comparable

Comparability adjustments (%)

Not available

properties

Mortgage servicing rights

1,993

Discounted cash flow

Discount Rate

9.65

%

Constant prepayment rate

7.61

%

P&I earnings credit

0.76

%

T&I earnings credit

1.60

%

Inflation for cost of servicing

1.50

%

Summary of estimated fair values of company's financial instruments

		September 30,  2017
		Carrying				Fair Value Measurements Using
		Amount				(Level 1)				(Level 2)				(Level 3)
($ in thousands)
Financial assets
Cash and cash equivalents		$	28,258			$	28,258			$	-			$	-
Loans held for sale			7,663				-				7,835				-
Loans, net of allowance for loan losses			667,315				-				-				669,568
Federal Reserve and FHLB Bank stock			3,748				-				3,748				-
Mortgage servicing rights			9,560				-				-				10,562
Accrued interest receivable			1,880				-				1,880				-
Financial liabilities
Deposits		$	716,807			$	124,840			$	595,111			$	-
FHLB advances			20,500				-				20,491				-
Repurchase agreements			11,343				-				11,343				-
Trust preferred securities			10,310				-				8,866				-
Accrued interest payable			611				-				611				-

		December 31, 2016
		Carrying				Fair Value Measurements Using
		Amount				(Level 1)				(Level 2)				(Level 3)
($ in thousands)
Financial assets
Cash and due from banks		$	17,012			$	17,012			$	-			$	-
Loans held for sale			4,434				-				4,503				-
Loans, net of allowance for loan losses			636,708				-				-				636,909
Federal Reserve and FHLB Bank stock, at cost			3,748				-				3,748				-
Mortgage servicing rights			8,422				-				-				9,656
Accrued interest receivable			1,512				-				1,512				-
Financial liabilities
Deposits		$	673,073			$	125,189			$	550,990			$	-
FHLB advances			26,500				-				26,477				-
Repurchase agreements			10,532				-				10,532				-
Trust preferred securities			10,310				-				7,422				-
Accrued interest payable			408				-				408				-

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 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: 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=66048111&loc=d3e19190-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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-Publisher FASB
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-Section 50
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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=77997519&loc=d3e13476-108611

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- Definition

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

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=66048111&loc=d3e19207-110258

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