Rendering

Component: (Network and Table)
Network
00000059 - Disclosure - FAIR VALUE DISCLOSURES (Tables)
(http://maconbank.com/role/FairValueDisclosuresTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Fair Value Disclosures TablesPeriod [Axis]
2016-01-01 - 2016-12-31
Fair Value Disclosures Tables
 
Summary of assets and liabilities measured at fair value on a recurring basis
    December 31, 2016  
    Level 1     Level 2     Level 3     Total  
    (Dollars in thousands)  
Trading account assets   $ 5,211     $ —     $ —     $ 5,211  
Securities available for sale:                                
          U.S. government agencies     —       12,107       —       12,107  
          Municipal securities     —       146,771       —       146,771  
          Mortgage-backed securities     —       217,937       —       217,937  
          U.S. Treasury securities     2,514       —       —       2,514  
 Corporate bonds             16,214       2,144       18,358  
          Mutual funds     604       —       —       604  
      8,329       393,029       2,144       403,502  
                                 
Loan servicing rights     —       —       2,603       2,603  
Derivative assets     —       476       —       476  
Forward sales commitments     —       —       19       19  
Interest rate lock commitments     —       —       41       41  
                                 
          Total assets   $ 8,329     $ 393,505     $ 4,807     $ 406,641  
                                 
    December 31, 2015  
    Level 1     Level 2     Level 3     Total  
    (Dollars in thousands)  
Trading account assets   $ 4,714     $ —     $ —     $ 4,714  
Securities available for sale:                                
          U.S. government agencies     —       25,720       —       25,720  
          Municipal securities     —       39,858       —       39,858  
          Mortgage-backed securities     —       171,174       —       171,174  
          U.S. Treasury securities     1,510       —       —       1,510  
          Mutual funds     600       —       —       600  
      6,824       236,752       —       243,576  
                                 
Loan servicing rights     —       —       2,344       2,344  
Forward sales commitments     —       —       16       16  
Interest rate lock commitments     —       —       30       30  
                                 
          Total assets   $ 6,824     $ 236,752     $ 2,390     $ 245,966  
 
 
Schedule of changes in assets measured at fair value on a recurring basis
    Year Ended December 31,  
    2016     2015     2014  
    (Dollars in thousands)  
Balance at beginning of year   $ 2,390     $ 2,248     $ 1,888  
                         
Corporate bonds                        
Transfers from HTM     2,144       —       —  
                         
Loan servicing right activity, included in servicing income, net                        
Capitalization from loans sold     604       544       385  
Fair value adjustment     (345 )     (387 )     (81 )
                         
Mortgage derivative gains (losses) included in other income     14       (15 )     56  
                         
Balance at end of year   $ 4,807     $ 2,390     $ 2,248  
 
 
Summary of assets and liabilities measured at a fair value on a nonrecurring basis
    December 31, 2016  
    Level 1     Level 2     Level 3     Total  
    (Dollars in thousands)  
Collateral dependent impaired loans:                                
One-to four family residential   $ —     $ —     $ 2,205     $ 2,205  
Commercial real estate     —       —       6,329       6,329  
Home equity loans and lines of credit     —       —       213       213  
Other construction and land     —       —       809       809  
                                 
Real estate owned:                                
One-to four family residential     —       —       1,336       1,336  
Commercial real estate     —       —       722       722  
Other construction and land     —       —       2,168       2,168  
                                 
Total assets   $ —     $ —     $ 13,782     $ 13,782  
                         
    December 31, 2015  
    Level 1     Level 2     Level 3     Total  
    (Dollars in thousands)  
Collateral dependent impaired loans:                                
One-to four family residential   $ —     $ —     $ 4,163     $ 4,163  
Commercial real estate     —       —       7,226       7,226  
Home equity loans and lines of credit     —       —       213       213  
Other construction and land     —       —       658       658  
                                 
Real estate owned:                                
One-to four family residential     —       —       1,384       1,384  
Commercial real estate     —       —       1,123       1,123  
Other construction and land     —       —       2,862       2,862  
                                 
Total assets   $ —     $ —     $ 17,629     $ 17,629  
 
 
Schedule of significant unobservable inputs used in the fair value measurements
    Valuation Technique   Unobservable Input   General Range
             
Impaired loans   Discounted Appraisals   Collateral discounts and estimated selling cost   0 – 30%
Real estate owned   Discounted Appraisals   Collateral discounts and estimated selling cost   0 – 30%
Corporate bonds   Discounted Cash Flows   Recent trade pricing   0-8%
Loan servicing rights   Discounted Cash Flows   Prepayment speed   5 – 35%
        Discount rate   12-14%
 
 
Schedule of carrying amount and estimated fair value of the Company's financial instruments
    Carrying     Fair Value Measurements at December 31, 2016  
(Dollars in thousands)   Amount     Total     Level 1     Level 2     Level 3  
Assets:                                        
Cash and equivalents   $ 43,294     $ 43,294     $ 43,294     $ —     $ —  
Trading securities     5,211       5,211       5,211       —       —  
Securities available for sale     398,291       398,291       3,118       393,029       2,144  
Loans held for sale     4,584       5,093       —       5,093       —  
Loans receivable, net     744,361       741,612       —       —       741,612  
Other investments, at cost     15,261       15,261       —       15,261       —  
Interest receivable     5,012       5,012       —       5,012       —  
Bank owned life  insurance     31,347       31,347       —       31,347       —  
Loan servicing rights     2,603       2,603       —       —       2,603  
Forward sales commitments     19       19       —       —       19  
Interest rate lock commitments     41       41       —       —       41  
Derivative asset     476       476       —       476       —  
SBIC investments     1,666       1,666       —       —       1,666  
                                         
Liabilities:                                        
Demand deposits   $ 540,808       540,808     $ —     $ 540,808     $ —  
Time deposits     289,205       286,611       —       —       286,611  
Federal Home Loan Bank advances     298,500       298,667       —       298,667       —  
Junior subordinated debentures     14,433       14,433       —       14,433       —  
Other borrowings     2,725       2,907       —       2,907       —  
Accrued interest payable     254       254       —       254       —  
 
    Carrying     Fair Value Measurements at December 31, 2015  
(Dollars in thousands)   Amount     Total     Level 1     Level 2     Level 3  
Assets:                                        
Cash and equivalents   $ 40,650     $ 40,650     $ 40,650     $ —     $ —  
Trading securities     4,714       4,714       4,714       —       —  
Securities available for sale     238,862       238,862       2,110       236,752       —  
Securities held to maturity     41,164       41,812       995       40,817       —  
Loans held for sale     8,348       8,952       —       8,952       —  
Loans receivable, net     624,072       620,516       —       —       620,516  
Other investments, at cost     8,834       8,834       —       8,834       —  
Interest receivable     3,554       3,554       —       3,554       —  
Bank owned life  insurance     20,858       20,858       —       20,858       —  
Loan servicing rights     2,344       2,344       —       —       2,344  
Forward sales commitments     16       16       —       —       16  
Interest rate lock commitments     30       30       —       —       30  
SBIC investments     1,025       1,025                       1,025  
                                         
Liabilities:                                        
Demand deposits   $ 440,475       440,475     $ —     $ 440,475     $ —  
Time deposits     276,142       275,403       —       —       275,403  
Federal Home Loan Bank advances     153,500       153,441       —       153,441       —  
Junior subordinated debentures     14,433       14,433       —       14,433       —  
Other borrowings     2,198       2,198       —       —       2,198  
Accrued interest payable     213       213       —       213       —