| Schedule of estimated fair values, and related carrying or notional amounts, of financial instruments |
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September 30, 2012 (unaudited) |
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Carrying |
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Fair |
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Amount |
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Value |
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Level 1 |
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Level 2 |
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Level 3 |
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Financial assets:
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Cash and cash equivalents (a)
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$ |
33,073 |
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$ |
33,073 |
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$ |
33,073 |
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$ |
— |
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$ |
— |
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Interest-bearing time deposits with other banks (a)
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119 |
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119 |
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— |
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119 |
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— |
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Investments in available-for-sale securities
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22,765 |
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22,765 |
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— |
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22,765 |
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— |
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Held-to-maturity securities (b)
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71,992 |
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74,413 |
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— |
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74,413 |
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— |
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Federal Home Loan Bank stock (a)
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7,627 |
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7,627 |
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— |
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7,627 |
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— |
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Loans held-for-sale
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4,042 |
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4,338 |
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— |
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— |
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4,338 |
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Loans, net (c)
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657,353 |
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669,077 |
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— |
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— |
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669,077 |
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Accrued interest receivable (a)
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2,446 |
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2,446 |
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2,446 |
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— |
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— |
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Financial liabilities:
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Deposits (d)
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578,625 |
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593,245 |
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— |
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593,245 |
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— |
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Federal Home Loan Bank advances (d)
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97,600 |
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98,188 |
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— |
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98,188 |
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— |
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Securities sold under agreements to repurchase (a)
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3,193 |
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3,193 |
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— |
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3,193 |
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— |
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Other borrowed funds (a)
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1,463 |
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1,463 |
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— |
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1,463 |
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— |
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Accrued interest payable (a)
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370 |
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370 |
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370 |
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— |
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— |
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Mortgagor’s escrow accounts (a)
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808 |
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808 |
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808 |
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— |
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— |
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Assets above for which fair value is only disclosed
a - Carrying value approximates fair value.
b - The fair values presented are based on quoted
market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments and/or discounted cash flow analyses.
c - Fair value is estimated by discounting estimated future cash flows.
d - Fair value was
determined by discounting anticipated future cash payments using rates currently available for instruments with similar remaining maturities.
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December 31, 2011 |
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Carrying |
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Fair |
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Amount |
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Value |
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Financial assets:
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Cash and cash equivalents
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$ |
22,795 |
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$ |
22,795 |
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Interest-bearing time deposits with other banks
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119 |
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123 |
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Investments in available-for-sale securities
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— |
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— |
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Held-to-maturity securities
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89,391 |
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91,096 |
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Federal Home Loan Bank stock
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8,038 |
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8,038 |
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Loans held-for-sale
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15,877 |
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15,918 |
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Loans, net
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509,964 |
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515,948 |
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Accrued interest receivable
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2,185 |
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2,185 |
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Financial liabilities:
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Deposits
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430,654 |
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433,267 |
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Federal Home Loan Bank advances
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95,600 |
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96,001 |
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Securities sold under agreements to repurchase
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2,985 |
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2,985 |
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Other borrowed funds
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1,502 |
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1,469 |
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Accrued interest payable
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177 |
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177 |
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Mortgagors’ escrow accounts
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442 |
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442 |
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