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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2014
Fair Value Disclosures [Abstract] |
Schedule of Assets Measured at Fair Value on Recurring Basis | The following table presents assets measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013. There were no liabilities measured at fair value on a recurring basis for either period presented.
|  | Fair Value Measurements as of June 30, 2014 Using |
|  | Totals At June 30, 2014 |  |  | Quoted Prices in Active Markets For Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in Thousands) |
Investment securities, available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 111,896 |  |  | $ | — |  |  | $ | 111,896 |  |  | $ | — |
Commercial |  |  | 36,233 |  |  |  | — |  |  |  | 36,233 |  |  |  | — |
Obligations of states and political subdivisions |  |  | 16,641 |  |  |  | — |  |  |  | 16,641 |  |  |  | — |
U.S. treasury securities |  |  | 3,929 |  |  |  | — |  |  |  | 3,929 |  |  |  | — |
Obligations of U.S. government sponsored agencies |  |  | 411 |  |  |  | — |  |  |  | 411 |  |  |  | — |
Other assets - derivatives |  |  | 69 |  |  |  | — |  |  |  | 69 |  |  |  | — |
|  | Fair Value Measurements as of December 31, 2013 Using |
|  | Totals At December 31, 2013 |  |  | Quoted Prices in Active Markets For Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in Thousands) |
Investment securities, available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 83,434 |  |  | $ | — |  |  | $ | 83,434 |  |  | $ | — |
Commercial |  |  | 30,465 |  |  |  | — |  |  |  | 30,465 |  |  |  | — |
Obligations of states and political subdivisions |  |  | 17,027 |  |  |  | — |  |  |  | 17,027 |  |  |  | — |
U.S. treasury securities |  |  | 3,827 |  |  |  | — |  |  |  | 3,827 |  |  |  | — |
Obligations of U.S. government sponsored agencies |  |  | 1,001 |  |  |  | — |  |  |  | 1,001 |  |  |  | — |
Balances of Impaired Loans and Foreclosed Assets Measured at Fair Value on Nonrecurring Basis | The following table presents the balances of impaired loans and foreclosed assets measured at fair value on a non-recurring basis as of June 30, 2014 and December 31, 2013.
|  | Fair Value Measurements as of June 30, 2014 Using |
|  | Totals At June 30, 2014 |  |  | Quoted Prices in Active Markets For Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in Thousands) |
Impaired loans |  | $ | 1,983 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,983 |
Foreclosed property and other real estate |  |  | 1,866 |  |  |  | — |  |  |  | — |  |  |  | 1,866 |
|  | Fair Value Measurements as of December 31, 2013 Using |
|  | Totals At December 31, 2013 |  |  | Quoted Prices in Active Markets For Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (Dollars in Thousands) |
Impaired loans |  | $ | 11,358 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,358 |
Foreclosed property and other real estate |  |  | 5,832 |  |  |  | — |  |  |  | — |  |  |  | 5,832 |
Summary of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) | Following the table is a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input.
|  | Level 3 Significant Unobservable Input Assumptions
|  | Fair Value June 30, 2014 |  |  | Valuation Technique |  | Unobservable Input |  | Quantitative Range of Unobservable Inputs (Weighted- Average)
|  | (Dollars in Thousands)
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 1,983 |  |  | Multiple data points, including discount to appraised value of collateral based on recent market activity |  | Appraisal comparability adjustment (discount) |  | 9% - 10% (9.5%)
Foreclosed property and other real estate |  | $ | 1,866 |  |  | Discount to appraised value of property based on recent market activity for sales of similar properties |  | Appraisal comparability adjustment (discount) |  | 9% - 10% (9.5%)
Schedule of Estimated Fair Value and Related Carrying or Notional Amounts of Company's Financial Instruments | The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of June 30, 2014 and December 31, 2013, were as follows:
|  | June 30, 2014 |
|  | Carrying Amount |  |  | Estimated Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (Dollars in Thousands) |
Assets: |  |  |  |
Cash and cash equivalents |  | $ | 41,443 |  |  | $ | 41,443 |  |  | $ | 41,443 |  |  | $ | — |  |  | $ | — |
Investment securities available-for-sale |  |  | 169,110 |  |  |  | 169,110 |  |  |  | — |  |  |  | 169,110 |  |  |  | — |
Investment securities held-to-maturity |  |  | 40,835 |  |  |  | 40,220 |  |  |  | — |  |  |  | 40,220 |  |  |  | — |
Federal Home Loan Bank stock |  |  | 738 |  |  |  | 738 |  |  |  | — |  |  |  | — |  |  |  | 738 |
Loans, net of allowance for loan losses |  |  | 272,086 |  |  |  | 273,992 |  |  |  | — |  |  |  | — |  |  |  | 273,992 |
Other assets - derivatives |  |  | 69 |  |  |  | 69 |  |  |  | — |  |  |  | 69 |  |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 483,254 |  |  |  | 483,733 |  |  |  | — |  |  |  | 483,733 |  |  |  | — |
Short-term borrowings |  |  | 623 |  |  |  | 623 |  |  |  | — |  |  |  | 623 |  |  |  | — |
Long-term debt |  |  | 5,000 |  |  |  | 5,013 |  |  |  | — |  |  |  | 5,013 |  |  |  | — |
|  | December 31, 2013 |
|  | Carrying Amount |  |  | Estimated Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (Dollars in Thousands) |
Assets: |  |  |  |
Cash and cash equivalents |  | $ | 47,720 |  |  | $ | 47,720 |  |  | $ | 47,720 |  |  | $ | — |  |  | $ | — |
Investment securities available-for-sale |  |  | 135,754 |  |  |  | 135,754 |  |  |  | — |  |  |  | 135,754 |  |  |  | — |
Investment securities held-to-maturity |  |  | 35,050 |  |  |  | 33,365 |  |  |  | — |  |  |  | 33,365 |  |  |  | — |
Federal Home Loan Bank stock |  |  | 906 |  |  |  | 906 |  |  |  | — |  |  |  | — |  |  |  | 906 |
Loans, net of allowance for loan losses |  |  | 300,927 |  |  |  | 303,291 |  |  |  | — |  |  |  | — |  |  |  | 303,291 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 484,279 |  |  |  | 484,957 |  |  |  | — |  |  |  | 484,957 |  |  |  | — |
Short-term borrowings |  |  | 1,231 |  |  |  | 1,231 |  |  |  | — |  |  |  | 1,231 |  |  |  | — |
Long-term debt |  |  | 5,000 |  |  |  | 5,011 |  |  |  | — |  |  |  | 5,011 |  |  |  | — |

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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 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 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),(b) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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