| Schedule of estimated fair value of recognized financial instruments |
| |
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June 30, 2012 |
|
| (Dollars in thousands) |
|
Carrying
Value |
|
|
Level 1 |
|
|
Level II |
|
|
Level III |
|
|
Total Fair
Value |
|
| |
|
(dollars in thousands) |
|
|
Financial assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
67,832 |
|
|
$ |
67,832 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
67,832 |
|
|
Securities
|
|
|
126,690 |
|
|
|
166 |
|
|
|
126,524 |
|
|
|
0 |
|
|
|
126,690 |
|
|
Net loans
|
|
|
339,645 |
|
|
|
0 |
|
|
|
0 |
|
|
|
345,517 |
|
|
|
345,517 |
|
|
Bank-owned life insurance
|
|
|
8,175 |
|
|
|
8,175 |
|
|
|
0 |
|
|
|
0 |
|
|
|
8,175 |
|
|
Regulatory stock
|
|
|
5,463 |
|
|
|
0 |
|
|
|
5,463 |
|
|
|
0 |
|
|
|
5,463 |
|
|
Accrued interest receivable
|
|
|
1,293 |
|
|
|
1,293 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,293 |
|
|
Financial liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
$ |
454,719 |
|
|
$ |
291,014 |
|
|
$ |
0 |
|
|
$ |
165,326 |
|
|
$ |
456,340 |
|
|
Short-term borrowings
|
|
|
41,195 |
|
|
|
41,195 |
|
|
|
0 |
|
|
|
0 |
|
|
|
41,195 |
|
|
Federal Home Loan Bank advances
|
|
|
16,870 |
|
|
|
0 |
|
|
|
0 |
|
|
|
17,965 |
|
|
|
17,965 |
|
|
Accrued interest payable
|
|
|
149 |
|
|
|
149 |
|
|
|
0 |
|
|
|
0 |
|
|
|
149 |
|
| |
|
|
|
|
|
|
|
|
| |
|
December 31, 2011 |
|
| (Dollars in thousands) |
|
Carrying
value |
|
|
Fair
value |
|
|
Financial assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
82,258 |
|
|
$ |
82,258 |
|
|
Securities available for sale
|
|
|
123,026 |
|
|
|
123,026 |
|
|
Net loans
|
|
|
320,100 |
|
|
|
327,138 |
|
|
Bank-owned life insurance
|
|
|
3,068 |
|
|
|
3,068 |
|
|
Regulatory stock
|
|
|
5,463 |
|
|
|
5,463 |
|
|
Accrued interest receivable
|
|
|
1,349 |
|
|
|
1,349 |
|
|
Financial liabilities:
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
$ |
443,553 |
|
|
$ |
445,587 |
|
|
Short-term borrowings
|
|
|
37,073 |
|
|
|
37,073 |
|
|
Federal Home Loan Bank advances
|
|
|
19,161 |
|
|
|
20,087 |
|
|
Accrued interest payable
|
|
|
182 |
|
|
|
182 |
|
|