Fair Value Measurements (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Fair Value Measurements [Abstract] |
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| Fair Value, Assets Measured on Recurring Basis |
The tables below present the recorded amount of assets as of December 31, 2015 and December 31, 2014 measured at fair value on a recurring basis.
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(dollars in thousands)
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December 31, 2015
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Description of Asset
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Fair Value
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Level 1
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Level 2
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Level 3
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Available for sale securities
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Asset-backed securities issued by GSEs
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CMOs
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$ 30,664
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$ -
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$ 30,664
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$ -
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MBS
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26
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-
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26
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-
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Corporate equity securities
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39
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-
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39
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-
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Bond mutual funds
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4,387
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-
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4,387
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-
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Total available for sale securities
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$ 35,116
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$ -
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$ 35,116
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$ -
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(dollars in thousands)
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December 31, 2014
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Description of Asset
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Fair Value
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Level 1
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Level 2
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Level 3
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Available for sale securities
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Asset-backed securities issued by GSEs
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CMOs
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$ 37,541
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$ -
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$ 37,541
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$ -
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MBS
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37
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-
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37
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-
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Corporate equity securities
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40
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-
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40
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-
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Bond mutual funds
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4,321
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-
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4,321
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-
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Total available for sale securities
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$ 41,939
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$ -
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$ 41,939
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$ -
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| Fair Value, Assets and Liabilities Measured on Nonrecurring Basis |
Assets measured at fair value on a nonrecurring basis as of December 31, 2015 and 2014 are included in the tables below.
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(dollars in thousands)
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December 31, 2015
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Description of Asset
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Fair Value
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Level 1
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Level 2
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Level 3
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Loans with impairment
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Commercial real estate
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$ 1,765
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$ -
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$ 1,765
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$ -
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Residential first mortgages
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610
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-
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610
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-
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Construction and land development
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33
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-
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33
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-
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Commercial loans
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50
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-
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50
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-
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Total loans with impairment
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$ 2,458
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$ -
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$ 2,458
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$ -
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Premises and equipment held for sale
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$ 2,000
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$ -
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$ 2,000
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$ -
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Other real estate owned
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$ 9,449
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$ -
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$ 9,449
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$ -
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(dollars in thousands)
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December 31, 2014
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Description of Asset
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Fair Value
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Level 1
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Level 2
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Level 3
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Loans with impairment
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Commercial real estate
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$ 2,524
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$ -
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$ 2,524
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$ -
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Residential first mortgage
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805
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-
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805
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-
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Commercial loans
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251
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-
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251
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-
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Commercial equipment
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90
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-
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90
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-
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Total loans with impairment
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$ 3,670
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$ -
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$ 3,670
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$ -
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Other real estate owned
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$ 5,883
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$ -
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$ 5,883
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$ -
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