Disclosures about Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Disclosures about Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liability measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at June 30, 2017 Using
	Total			(Level 1)		(Level 2)		(Level 3)
US Agency securities	$	4,405		$	—	$	4,405	$	—
US Agency mortgage-backed securities		84,304			—		84,304		—
Taxable municipal		6,850			—		6,850		—
Corporate bonds		35,144			—		35,144		—
Fair value swap asset		76			—		—		76
Fair value swap liability		(76	)		—		—		(76	)


	Fair Value Measurements at December 31, 2016 Using
	Total		(Level 1)		(Level 2)		(Level 3)
US Agency securities	$	398	$	—	$	398	$	—
US Agency mortgage-backed securities		89,184		—		89,184		—
Taxable municipal		3,622		—		3,622		—
Corporate bonds		33,873		—		33,873		—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

Assets measured at fair value on a non-recurring basis are summarized below (in thousands, except range data):


	Fair Value Measurements at June 30, 2017 Using
	Total		(Level 1)		(Level 2)		(Level 3)
Impaired loans	$	814	$	—	$	—	$	814


	Fair Value Measurements at December 31, 2016 Using
	Total		(Level 1)		(Level 2)		(Level 3)
Impaired loans	$	147	$	—	$	—	$	147
Other real estate owned		21		—		—		21


June 30, 2017	Quantitative Information About Level 3 Fair Value Measurements
June 30, 2017	Fair Value Estimate	Valuation Techniques	Unobservable Input	Range (Wgtd Ave)
Impaired loans	$814	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾	40% to 77% (42%)


December 31, 2016	Quantitative Information About Level 3 Fair Value Measurements
December 31, 2016	Fair Value Estimate	Valuation Techniques	Unobservable Input	Range (Wgtd Ave)
Impaired loans	$147	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾	40% to 99% (45%)
Other real estate owned	21	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾ Liquidation expenses	20% to 77% (42%) 3% to 199% (37%)

(1)

Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2)

Appraisals may be adjusted by management for qualitative factors such as economic conditions.

(3)

Includes qualitative adjustments by management and estimated liquidation expenses.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The estimation methodologies used, the estimated fair values based on US GAAP measurements, and recorded book balances at June 30, 2017 and December 31, 2016, were as follows (in thousands):


	June 30, 2017
	Carrying Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents	$	30,466	$	30,466	$	30,466	$	—	$	—
Investment securities – AFS		130,703		130,703		—		130,703		—
Investment securities – HTM		37,664		37,715		—		34,775		2,940
Regulatory stock		6,427		6,427		6,427		—		—
Loans held for sale		4,630		4,699		4,699		—		—
Loans, net of allowance for loan loss and unearned income		882,855		881,765		—		—		881,765
Accrued interest income receivable		3,331		3,331		3,331		—		—
Bank owned life insurance		37,573		37,573		37,573		—		—
Fair value swap asset		76		76		—		—		76
FINANCIAL LIABILITIES:
Deposits with no stated maturities	$	696,695	$	696,695	$	696,695	$	—	$	—
Deposits with stated maturities		259,680		260,951		—		—		260,951
Short-term borrowings		42,101		42,101		42,101		—		—
All other borrowings		65,411		69,063		—		—		69,063
Accrued interest payable		1,492		1,492		1,492		—		—
Fair value swap liability		76		76		—		—		76


	December 31, 2016
	Carrying Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents	$	34,073	$	34,073	$	34,073	$	—	$	—
Investment securities – AFS		127,077		127,077		—		127,077		—
Investment securities – HTM		30,665		30,420		—		27,473		2,947
Regulatory stock		5,484		5,484		5,484		—		—
Loans held for sale		3,094		3,158		3,158		—		—
Loans, net of allowance for loan loss and unearned income		873,832		869,960		—		—		869,960
Accrued interest income receivable		3,116		3,116		3,116		—		—
Bank owned life insurance		37,903		37,903		37,903		—		—
FINANCIAL LIABILITIES:
Deposits with no stated maturities	$	708,062	$	708,062	$	708,062	$	—	$	—
Deposits with stated maturities		259,724		261,446		—		—		261,446
Short-term borrowings		12,754		12,754		12,754		—		—
All other borrowings		65,891		69,348		—		—		69,348
Accrued interest payable		1,640		1,640		1,640		—		—