F & M Bank (FMBM) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 11, 2015
Document And Entity Information
Entity Registrant Name	F&M BANK CORP
Entity Central Index Key	740,806
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		3,293,244
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income
Interest and fees on loans held for investment	$ 6,955	$ 6,552	$ 13,727	$ 12,778
Interest and fees on loans held for sale	322	49	513	64
Interest on federal funds sold	3	12	8	24
Interest on debt securities	93	61	136	99
Total interest income	7,373	6,674	14,384	12,965
Interest expense
Interest on demand deposits	157	169	314	336
Interest on savings accounts	37	29	70	57
Interest on time deposits over $100,000	122	150	245	308
Interest on other time deposits	231	280	472	584
Total interest on deposits	547	628	1,101	1,285
Interest on short-term debt	19	2	30	4
Interest on long-term debt	132	289	252	580
Total interest expense	698	919	1,383	1,869
Net interest income	$ 6,675	5,755	13,001	11,096
Provision for loan losses		750	300	1,500
Net interest income after provision for loan losses	$ 6,675	5,005	12,701	9,596
Noninterest income
Service charges	236	254	462	511
Insurance and other commissions	275	154	510	176
Other	362	411	685	792
Income on bank owned life insurance	117	115	235	231
Total noninterest income	990	934	1,892	1,710
Noninterest expense
Salaries	1,875	1,692	3,693	3,347
Employee benefits	539	457	1,163	977
Occupancy expense	162	155	340	315
Equipment expense	151	138	314	282
FDIC insurance assessment	198	180	390	360
OREO expenses/losses	274	46	516	94
Other	1,297	1,133	2,462	2,164
Total noninterest expense	4,496	3,801	8,878	7,539
Income before income taxes	3,169	2,138	5,715	3,767
Income tax expense	943	642	1,592	1,118
Consolidated net income - F & M Bank Corp.	2,226	1,496	4,123	2,649
Net income - Noncontrolling interest (income) loss	(50)	(12)	(76)	18
Net Income - F & M Bank Corp	2,176	$ 1,484	4,047	$ 2,667
Dividends paid/accumulated on preferred stock	127		255
Net income available to common stockholders	$ 2,049	$ 1,484	$ 3,792	$ 2,667
Per share data
Net income - basic	$ 0.62	$ 0.45	$ 1.15	$ 0.91
Net income - diluted	0.58	0.45	1.08	0.91
Cash dividends	$ 0.18	$ 0.17	$ 0.36	$ 0.34
Weighted average shares outstanding - basic	3,294,365	3,288,277	3,293,510	2,945,363
Weighted average shares outstanding - diluted	3,738,765	3,288,277	3,737,910	2,945,363

Consolidated Statements of Inc3

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Interest on time deposits	$ 100,000	$ 100,000	$ 100,000	$ 100,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income:
Net Income - F & M Bank Corp	$ 2,176	$ 1,484	$ 4,047	$ 2,667
Net Income (loss) attributable to noncontrolling interest	50	12	76	(18)
Consolidated Net Income	2,226	1,496	4,123	2,649
Other comprehensive income (loss):
Unrealized holding gains (losses) on available-for-sale securities	$ (1)	(23)	23	(5)
Tax effect		8	(8)	2
Unrealized holding gain (loss), net of tax	$ (1)	(15)	15	(3)
Total other comprehensive income (loss)	(1)	(15)	15	(3)
Comprehensive income	$ 2,225	$ 1,481	$ 4,138	$ 2,646

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 6,291	$ 6,241
Money market funds	$ 528	911
Federal funds sold		16,051
Cash and cash equivalents	$ 6,819	23,203
Securities:
Held to maturity - fair value of $125 in 2015 and 2014	125	125
Available for sale	13,246	13,215
Other investments	10,808	8,964
Loans held for sale	55,762	13,382
Loans held for investment	532,805	518,202
Less allowance for loan losses	(8,914)	(8,725)
Net loans held for investment	523,891	509,477
Other real estate owned	2,445	3,507
Bank premises and equipment, net	7,093	6,458
Interest receivable	1,663	1,675
Goodwill	2,670	2,670
Bank owned life insurance	12,811	12,581
Other assets	10,583	10,051
Total assets	647,916	605,308
Deposits:
Noninterest bearing	119,326	112,198
Interest bearing:
Demand	86,529	93,694
Money market accounts	25,273	25,900
Savings	77,075	64,249
Time deposits over $100,000	63,359	79,813
All other time deposits	111,208	115,651
Total deposits	482,770	491,505
Short-term debt	48,087	14,358
Accrued liabilities	12,221	11,772
Long-term debt	24,321	9,875
Total liabilities	567,399	527,510
Stockholders' Equity
Preferred Stock $5 par value, 400,000 shares authorized, issued and outstanding for 2015 and 2014	9,425	9,425
Common stock, $5 par value, 6,000,000 shares authorized, 3,293,892 and 3,287,470 shares issued and outstanding for 2015 and 2014, respectively	16,470	16,459
Additional paid in capital - common stock	11,288	11,260
Retained earnings	45,161	42,554
Noncontrolling interest	484	426
Accumulated other comprehensive loss	(2,311)	(2,326)
Total stockholders' equity	80,517	77,798
Total liabilities and stockholders' equity	$ 647,916	$ 605,308

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Held to maturity - fair value	$ 125	$ 125
STOCKHOLDERS EQUITY:
Preferred Stock, par value	$ 5	$ 5
Preferred Stock shares authorized	400,000	400,000
Preferred Stock shares issued	400,000	400,000
Preferred Stock shares outstanding	400,000	400,000
Common stock, par value	$ 5	$ 5
Common stock shares authorized	6,000,000	6,000,000
Common stock shares issued	3,293,892	3,287,470
Common stock shares outstanding	3,293,892	3,287,470

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income	$ 4,047	$ 2,667
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	348	294
Amortization of security premiums, net	70	46
Loans held for sale originated	(36,299)	(22,636)
Sale of loans held for sale originated	33,356	21,114
Provision for loan losses	300	1,500
(Increase) Decrease in interest receivable	11	(26)
Increase in other assets	(763)	(1,795)
Increase (decrease) in accrued expenses	735	(572)
Amortization of limited partnership investments	314	304
Income from life insurance investment	(235)	(231)
(Gain) loss on Other Real Estate Owned	506	47
Net adjustments	(1,657)	(1,955)
Net cash provided by operating activities	2,390	712
Cash flows from investing activities
Purchase of investments available for sale	(10,346)	(8,275)
Proceeds from maturity of investments available for sale	$ 8,111	27,276
Purchase of investments held to maturity		(100)
Proceeds from maturity of investments held to maturity		106
Net increase in loans held for investment	$ (14,487)	(20,706)
Net increase in loans held for sale participations	(39,437)	(8,371)
Proceeds from the sale of other real estate owned	328	686
Purchase of property and equipment	(982)	(227)
Net cash used in investing activities	(56,813)	(9,611)
Cash flows from financing activities
Net change in demand and savings deposits	12,165	10,371
Net change in time deposits	(20,898)	(2,270)
Net change in short-term debt	33,729	(128)
Cash dividends paid	(1,440)	(986)
Proceeds from issuance of common stock	70	$ 12,053
Repurchase of common stock	(31)
Proceeds from issuance of long-term debt	15,000
Repayment of long-term debt	(554)	$ (4,000)
Net cash provided by financing activities	38,039	15,040
Net Increase (decrease) in Cash and Cash Equivalents	(16,384)	6,141
Cash and cash equivalents, beginning of period	23,203	6,545
Cash and cash equivalents, end of period	6,819	12,686
Supplemental disclosure
Interest expense	710	1,831
Income taxes	$ 1,000	800
Transfers from loans to Other Real Estate Owned		2,618
Noncash exchange of other real estate owned	$ (227)	$ (455)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) $ in Thousands	USD ($)
Balance, beginning of period at Dec. 31, 2013	$ 54,141
Comprehensive income
Net Income - F & M Bank Corp	2,667
Net income (loss) attributable to noncontrolling interest	(18)
Net change in unrealized appreciation on securities available for sale, net of taxes	(3)
Total comprehensive income	2,646
Minority Interest Capital Distributions	(37)
Issuance of common stock	$ 12,053
Repurchase of common stock
Dividends declared	$ (986)
Balance, end of period at Jun. 30, 2014	67,817
Balance, beginning of period at Dec. 31, 2014	77,798
Comprehensive income
Net Income - F & M Bank Corp	4,047
Net income (loss) attributable to noncontrolling interest	76
Net change in unrealized appreciation on securities available for sale, net of taxes	15
Total comprehensive income	4,138
Minority Interest Capital Distributions	(18)
Issuance of common stock	70
Repurchase of common stock	(31)
Dividends declared	(1,440)
Balance, end of period at Jun. 30, 2015	$ 80,517

1. Accounting Principles

1. Accounting Principles	6 Months Ended
	Jun. 30, 2015
Accounting Principles
1. Accounting Principles	The consolidated financial statements include the accounts of F & M Bank Corp. and its subsidiaries (the “Company”). Significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements conform to accounting principles generally accepted in the United States of America and to general industry practices. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position as of June 30, 2015 and the results of operations for the quarters ended June 30, 2015 and 2014. The notes included herein should be read in conjunction with the notes to financial statements included in the 2014 annual report to shareholders of F & M Bank Corp. The Company does not expect the anticipated adoption of any newly issued accounting standards to have a material impact on future operations or financial position. Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities and gains or losses on certain derivative contracts, are reported as a separate component of the equity section of the balance sheet. Such items, along with operating net income, are components of comprehensive income. Subsequent Events In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. Loans Held for Investment Loans are carried on the balance sheet net of any unearned interest and the allowance for loan losses. Interest income on loans is determined using the effective interest method on the daily amount of principal outstanding except where serious doubt exists as to collectability of the loan, in which case the accrual of income is discontinued. Loans Held for Sale Allowance for Loan Losses The provision for loan losses charged to operations is an amount sufficient to bring the allowance for loan losses to an estimated balance that management considers adequate to absorb potential losses in the portfolio. Loans are charged against the allowance when management believes the collectability of the principal is unlikely. Recoveries of amounts previously charged-off are credited to the allowance. Management’s determination of the adequacy of the allowance is based on an evaluation of the composition of the loan portfolio, the value and adequacy of collateral, current economic conditions, historical loan loss experience, and other risk factors. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions, particularly those affecting real estate values. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses. Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. Allowance for Loan Losses, continued A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Nonaccrual Loans Loans are placed on nonaccrual status when they become ninety days or more past due, unless there is an expectation that the loan will either be brought current or paid in full in a reasonable period of time. Earnings per Share Accounting guidance specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”) for entities with publicly held common stock or potential common stock such as options, warrants, convertible securities or contingent stock agreements if those securities trade in a public market. Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding. Diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive common shares had been issued. The dilutive effect of conversion of preferred stock is reflected in the diluted earnings per share calculation. Net income available to common stockholders represents consolidated net income adjusted for preferred dividends declared. The following table provides a reconciliation of net income to net income available to common stockholders for the periods presented: For the Six months ended For the quarter ended June 30, 2015 June 30, 2015 Earnings Available to Common Stockholders: Net Income $ 4,047,184 $ 2,176,633 Preferred Stock Dividends 255,000 127,500 Net Income Available to Common Stockolders $ 3,792,184 $ 2,049,133 The following table shows the effect of dilutive preferred stock conversion on the Company's earnings per share for the periods indicated: Six months ended June 30, 2015 Quarter ended June 30, 2015 Income Shares Per Share Amounts Income Shares Per Share Amounts Basic EPS $ 3,792,184 3,293,510 $ 1.15 $ 2,049,133 3,294,365 $ 0.62 Effect of Dilutive Securities: Convertible Preferred Stock 255,000 444,400 (0.07 ) 127,500 444,400 (0.04 ) Diluted EPS $ 4,047,184 3,737,910 $ 1.08 $ 2,176,633 3,738,765 $ 0.58

2. Investment Securities

2. Investment Securities	6 Months Ended
	Jun. 30, 2015
Investment Securities
2. Investment Securities	Investment securities available for sale are carried in the consolidated balance sheets at their approximate market value, amortized cost and unrealized gains and losses at June 30, 2015 and December 31, 2014 are reflected in the table below. The amortized costs of investment securities held to maturity are carried in the consolidated balance sheets and their approximate market values at June 30, 2015 and December 31, 2014 are as follows: 2015 2014 Market Market Cost Value Cost Value Securities held to maturity U. S. Treasury and agency obligations $ 125 $ 125 $ 125 $ 125 Total $ 125 $ 125 $ 125 $ 125 June 30, 2015 Unrealized Market Cost Gains Losses Value Securities available for sale U. S. Treasuries $ 4,021 $ 21 $ - $ 4,042 Government sponsored enterprises 8,149 11 16 8,144 Mortgage-backed securities 915 10 - 925 Marketable equities 135 - - 135 Total $ 13,220 $ 42 $ 16 $ 13,246 December 31, 2014 Unrealized Market Cost Gains Losses Value Securities available for sale U. S. Treasuries $ 4,026 $ - $ 6 $ 4,020 Government sponsored enterprises 8,039 9 10 8,038 Mortgage-backed securities 1,011 11 - 1,022 Marketable equities 135 - - 135 Total $ 13,211 $ 20 $ 16 $ 13,215 The amortized cost and fair value of securities at June 30, 2015, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Held to Maturity Securities Available for Sale Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ - $ - $ - $ - Due after one year through five years 125 125 12,170 12,186 Due after five years - - 1,050 1,060 Total $ 125 $ 125 $ 13,220 $ 13,246 There were no gains and losses on sales of securities in the first six months of 2015 or 2014. There were also no securities with an other than temporary impairment. The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at June 30, 2015 and December 31, 2014 were as follows (dollars in thousands): Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2015 Government sponsored Enterprises $ 2,000 $ (16 ) $ - $ - $ 2,000 $ (16 ) Total $ 2,000 $ (16 ) $ - $ - $ 2,000 $ (16 ) December 31, 2014 U. S. Treasuries $ 4,020 $ (6 ) $ - $ - $ 4,020 $ (6 ) Government sponsored Enterprises 2,004 (2 ) 1,991 (8 ) 3,995 (10 ) Total $ 6,024 $ (8 ) $ 1,991 $ (8 ) $ 8,015 $ (16 ) Other investments, which consist of stock of correspondent banks and investments in low income housing projects, increased since December 31, 2014. This increase is due to FHLB stock purchases during 2015 and an increase in the Federal Reserve Bank Stock holding requirement.

3. Loans Held for Investment

3. Loans Held for Investment	6 Months Ended
	Jun. 30, 2015
Loans Held For Investment
3. Loans Held for Investment	Loans outstanding at June 30, 2015 and December 31, 2014 are summarized as follows: 2015 2014 Construction/Land Development $ 68,590 $ 67,181 Farmland 12,844 12,507 Real Estate 164,863 162,249 Multi-Family 12,104 11,775 Commercial Real Estate 124,635 122,305 Home Equity – closed end 9,329 9,394 Home Equity – open end 52,347 52,182 Commercial & Industrial – Non-Real Estate 28,435 28,161 Consumer 8,145 9,110 Dealer Finance 49,002 40,633 Credit Cards 2,511 2,705 Total $ 532,805 $ 518,202 The following is a summary of information pertaining to impaired loans (in thousands): Unpaid Average Interest June 30, 2015 Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized Impaired loans without a valuation allowance: Construction/Land Development $ 3,263 $ 3,401 $ - $ 4,678 $ 92 Farmland - - - - - Real Estate 1,241 1,241 - 342 36 Multi-Family - - - - - Commercial Real Estate 1,136 1,136 - 1,445 30 Home Equity – closed end - - - - - Home Equity – open end 1,547 1,547 - 969 72 Commercial & Industrial – Non-Real Estate 186 186 - 207 6 Consumer - - - - - Credit cards - - - - - Dealer Finance - - - - - 7,373 7,511 7,641 236 Impaired loans with a valuation allowance Construction/Land Development 12,923 12,923 1,760 13,142 191 Farmland - - - - - Real Estate 571 571 24 850 18 Multi-Family - - - - - Commercial Real Estate 880 880 6 952 2 Home Equity – closed end - - - - - Home Equity – open end - - - - - Commercial & Industrial – Non-Real Estate - - - - - Consumer - - - - - Credit cards - - - - - Dealer Finance 63 63 14 25 3 14,437 14,437 1,804 14,969 214 Total impaired loans $ 21,810 $ 21,948 $ 1,804 $ 22,610 $ 450 Unpaid Average Interest December 31, 2014 Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized Impaired loans without a valuation allowance: Construction/Land Development $ 4,982 $ 5,402 $ - $ 5,412 $ 251 Farmland - - - 1,163 - Real Estate 141 141 - 85 5 Multi-Family - - - - - Commercial Real Estate 1,159 1,459 - 1,450 66 Home Equity – closed end - - - 123 - Home Equity – open end 1,649 1,649 - 330 57 Commercial & Industrial – Non-Real Estate 191 191 - 237 11 Consumer - - - - - Credit cards - - - - - Dealer Finance - - - - - 8,122 8,842 8,800 390 Impaired loans with a valuation allowance Construction/Land Development 12,976 14,749 1,469 12,056 326 Farmland - - - - - Real Estate 926 926 101 988 105 Multi-Family - - - - - Commercial Real Estate 938 938 47 1,030 4 Home Equity – closed end - - - 72 - Home Equity – open end - - - 40 - Commercial & Industrial – Non-Real Estate - - - - - Consumer - - - - - Credit cards - - - - - Dealer Finance - - - - - 14,840 16,613 1,617 14,186 435 Total impaired loans $ 22,962 $ 25,455 $ 1,617 $ 22,986 $ 825 The Recorded Investment is defined as the principal balance less principal payments and charge-offs

4. Allowance for Loan Losses

4. Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2015
Allowance For Loan Losses
4. Allowance for Loan Losses	A summary of the allowance for loan losses follows: June 30, 2015 Beginning Balance Charge-offs Recoveries Provision Ending Balance Individually Evaluated for Impairment Collectively Evaluated for Impairment Allowance for loan losses: Construction/Land Development $ 4,738 $ 138 $ 81 $ 347 $ 5,028 $ 1,760 $ 3,268 Farmland 102 - - (1 ) 101 - 101 Real Estate 623 - - (125 ) 498 24 474 Multi-Family 95 - - - 95 - 95 Commercial Real Estate 126 - 28 (71 ) 83 6 77 Home Equity – closed end 188 24 - 11 175 - 175 Home Equity – open end 154 25 - 16 145 - 145 Commercial & Industrial – Non-Real Estate 1,014 - 56 (138 ) 932 - 932 Consumer 214 17 16 10 223 - 223 Dealer Finance 1,336 86 16 250 1,516 14 1,502 Credit Cards 135 41 23 1 118 - 118 Total $ 8,725 $ 331 $ 220 $ 300 $ 8,914 $ 1,804 $ 7,110 December 31, 2014 Beginning Balance Charge-offs Recoveries Provision Ending Balance Individually Evaluated for Impairment Collectively Evaluated for Impairment Allowance for loan losses: Construction/Land Development $ 4,007 $ 1,611 $ 223 $ 2,119 $ 4,738 $ 1,469 $ 3,269 Farmland (2 ) - - 104 102 - 102 Real Estate 400 208 - 431 623 101 522 Multi-Family - - - 95 95 - 95 Commercial Real Estate 777 - 108 (759 ) 126 47 79 Home Equity – closed end 157 - - 31 188 - 188 Home Equity – open end 476 80 - (242 ) 154 - 154 Commercial & Industrial – Non-Real Estate 1,464 385 356 (421 ) 1,014 - 1,014 Consumer 156 33 33 58 214 - 214 Dealer Finance 628 107 6 809 1,336 - 1,336 Credit Cards 121 46 35 25 135 - 135 Total $ 8,184 $ 2,470 $ 761 $ 2,250 $ 8,725 $ 1,617 $ 7,108 Recorded Investment in Loan Receivables (in thousands) June 30, 2015 Loan Receivable Individually Evaluated for Impairment Collectively Evaluated for Impairment Construction/Land Development $ 68,590 $ 16,186 $ 52,404 Farmland 12,844 - 12,844 Real Estate 164,863 1,812 163,051 Multi-Family 12,104 - 12,104 Commercial Real Estate 124,635 2,016 122,619 Home Equity – closed end 9,329 - 9,329 Home Equity –open end 52,347 1,547 50,800 Commercial & Industrial – Non-Real Estate 28,435 186 28,249 Consumer 8,145 - 8,145 Dealer Finance 49,002 63 48,939 Credit Cards 2,511 - 2,511 $ 532,805 $ 21,810 $ 510,995 Total December 31, 2014 Loan Receivable Individually Evaluated for Impairment Collectively Evaluated for Impairment Construction/Land Development $ 67,181 $ 17,958 $ 49,223 Farmland 12,507 - 12,507 Real Estate 162,249 1,067 161,182 Multi-Family 11,775 - 11,775 Commercial Real Estate 122,305 2,097 120,208 Home Equity – closed end 9,394 - 9,394 Home Equity –open end 52,182 1,649 50,533 Commercial & Industrial – Non-Real Estate 28,161 191 27,970 Consumer 9,110 - 9,110 Dealer Finance 40,633 40,633 Credit Cards 2,705 - 2,705 $ 518,202 $ 22,962 $ 495,240 Total Aging of Past Due Loans Receivable (in thousands) as of June 30, 2015 30-59 Days Past due 60-89 Days Past Due Greater than 90 Days (excluding non-accrual) Non-Accrual Loans Total Past Due Current Total Loan Receivable June 30, 2015 Construction/Land Development $ 41 $ 337 $ - $ 4,536 $ 4,914 $ 63,676 $ 68,590 Farmland - - - - - 12,844 12,844 Real Estate 2,740 1,357 - 1,257 5,354 159,509 164,863 Multi-Family - - - - - 12,104 12,104 Commercial Real Estate 1,963 105 - 1,047 3,115 121,520 124,635 Home Equity – closed end 35 - - - 35 9,294 9,329 Home Equity – open end 126 25 136 115 402 51,945 52,347 Commercial & Industrial – Non- Real Estate 96 5 - - 101 28,334 28,435 Consumer 90 44 13 - 147 7,998 8,145 Dealer Finance 631 122 117 77 947 48,055 49,002 Credit Cards 4 6 1 - 11 2,500 2,511 Total $ 5,726 $ 2,001 $ 267 $ 7,032 $ 15,026 $ 517,779 $ 532,805 Aging of Past Due Loans Receivable (in thousands) as of December 31, 2014 30-59 Days Past due 60-89 Days Past Due Greater than 90 Days (excluding non-accrual) Non-Accrual Loans Total Past Due Current Total Loan Receivable December 31, 2014 Construction/Land Development $ 205 $ 166 $ - $ 4,508 $ 4,879 $ 62,302 $ 67,181 Farmland - - - - - 12,507 12,507 Real Estate 5,085 635 - 973 6,693 155,556 162,249 Multi-Family - - - - - 11,775 11,775 Commercial Real Estate 747 - - 1,165 1,912 120,393 122,305 Home Equity – closed end 162 15 - 10 187 9,207 9,394 Home Equity – open end 730 25 - 143 898 51,284 52,182 Commercial & Industrial – Non- Real Estate - - - 14 14 28,147 28,161 Consumer 290 9 - - 299 8,811 9,110 Dealer Finance 696 189 - 161 1,046 39,587 40,633 Credit Cards 36 - 1 - 37 2,668 2,705 Total $ 7,951 $ 1,039 $ 1 $ 6,974 $ 15,965 $ 502,237 $ 518,202 CREDIT QUALITY INDICATORS (in thousands) AS OF JUNE 30, 2015 Corporate Credit Exposure Credit Risk Profile by Creditworthiness Category Grade 1 Minimal Risk Grade 2 Modest Risk Grade 3 Average Risk Grade 4 Acceptable Risk Grade 5 Marginally Acceptable Grade 6 Watch Grade 7 Substandard Grade 8 Doubtful Total Construction/Land Development $ - $ 370 $ 8,390 $ 28,823 $ 9,084 $ 5,227 $ 16,696 $ - $ 68,590 Farmland 67 - 1,995 3,721 4,969 - 2,092 - 12,844 Real Estate - 799 55,609 74,765 22,617 8,126 2,947 - 164,863 Multi-Family - 430 4,059 3,105 4,510 - - 12,104 Commercial Real Estate - 1,763 26,312 67,024 17,802 9,828 1,906 - 124,635 Home Equity – closed end - - 3,856 3,592 1,609 178 94 - 9,329 Home Equity – open end - 1,631 13,875 28,462 4,009 234 4,136 - 52,347 Commercial & Industrial (Non-Real Estate) 578 54 5,958 17,725 3,360 757 3 - 28,435 Total $ 645 $ 5,047 $ 120,054 $ 227,217 $ 67,960 $ 24,350 $ 27,874 $ - $ 473,147 Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Cards Consumer Performing $ 2,510 $ 57,017 Non performing 1 130 Total $ 2,511 $ 57,147 CREDIT QUALITY INDICATORS (in thousands) AS OF DECEMBER 31, 2014 Corporate Credit Exposure Credit Risk Profile by Creditworthiness Category Grade 1 Minimal Risk Grade 2 Modest Risk Grade 3 Average Risk Grade 4 Acceptable Risk Grade 5 Marginally Acceptable Grade 6 Watch Grade 7 Substandard Grade 8 Doubtful Total Construction/Land Development $ - $ 165 $ 8,460 $ 24,227 $ 9,605 $ 3,815 $ 20,909 $ - $ 67,181 Farmland 68 - 1,640 3,451 5,228 - 2,120 - 12,507 Real Estate - 629 60,290 66,464 23,934 7,083 3,849 - 162,249 Multi-Family - 468 4,145 2,183 4,979 - - - 11,775 Commercial Real Estate - 1,687 22,800 65,653 19,058 10,571 2,536 - 122,305 Home Equity – closed end - - 4,327 3,090 1,812 154 11 - 9,394 Home Equity – open end - 1,555 13,433 28,425 4,309 1,936 2,524 - 52,182 Commercial & Industrial (Non-Real Estate) 643 74 4,692 18,039 3,948 735 30 - 28,161 Total $ 711 $ 4,578 $ 119,787 $ 211,532 $ 72,873 $ 24,294 $ 31,979 $ - $ 465,754 Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Cards Consumer Performing $ 2,704 $ 49,582 Non performing 1 161 Total $ 2,705 $ 49,743 Description of loan grades: Grade 1 – Minimal Risk Grade 2 – Modest Risk Grade 3 – Average Risk Grade 4 – Acceptable Risk Grade 5 – Marginally acceptable s Grade 6 – Watch Grade 7 – Substandard Grade 8 – Doubtful

5. Employee Benefit Plan

5. Employee Benefit Plan	6 Months Ended
	Jun. 30, 2015
Employee Benefit Plan
5. Employee Benefit Plan	The Bank has a qualified noncontributory defined benefit pension plan that covers substantially all of its employees. The benefits are primarily based on years of service and earnings. The Bank contributed $750,000 to the plan in the first quarter of 2015 and does not anticipate additional contributions for the 2015 plan year. The following is a summary of net periodic pension costs for the six-month and three-month periods ended June 30, 2015 and 2014. Six Months Ended Three Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Service cost $ 324,167 $ 250,514 $ 162,084 $ 125,257 Interest cost 205,472 188,854 102,736 94,427 Expected return on plan assets (419,409 ) (349,126 ) (209,705 ) (174,563 ) Amortization of net obligation at transition - - - - Amortization of prior service cost (7,618 ) (7,618 ) (3,809 ) (3,809 ) Amortization of net (gain) or loss 90,321 18,056 45,161 9,028 Net periodic pension cost $ 192,933 $ 100,680 $ 96,467 $ 50,340

6. Fair Value

6. Fair Value	6 Months Ended
	Jun. 30, 2015
Fair Value
6. Fair Value	Accounting Standards Codification (ASC) 820, defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 Level 2 Level 3 – The following sections provide a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy: Securities: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. Impaired Loans: ASC 820 applies to loans measured for impairment using the practical expedients permitted by ASC 310 including impaired loans measured at an observable market price (if available), or at the fair value of the loan’s collateral (if the loan is collateral dependent). Fair value of the loan’s collateral, when the loan is dependent on collateral, is determined by appraisals or independent valuation which is then adjusted for the cost related to liquidation of the collateral. Other Real Estate Owned: Certain assets such as other real estate owned (OREO) are measured at the lower of carrying amount or fair value less cost to sell. We believe that the fair value component in its valuation follows the provisions of ASC 820. Derivative Financial Instruments: The equity derivative contracts are purchased as part of our Indexed Certificate of Deposit (ICD) program and are an offset of an asset and liability. ICD values are measured on the S&P 500 Index. For level 3 assets and liabilities measured at fair value on a recurring basis or non-recurring basis as of June 30, 2015 and December 31, 2014 and significant unobservable inputs used in the fair value measurements were as follows: Fair Value at June 30, 2015 Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 12,633 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Other Real Estate Owned $ 2,445 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Fair Value at December 31, 2014 Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 13,223 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Other Real Estate Owned $ 3,507 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Assets and Liabilities Recorded at Fair Value on a Recurring Basis The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. June 30, 2015 Total Level 1 Level 2 Level 3 U. S. Treasuries $ 4,042 $ - $ 4,042 $ - Government sponsored enterprises 8,144 - 8,144 - Mortgage-backed securities 925 - 925 - Marketable Equities 135 - 135 - Investment securities available for sale 13,246 - 13,246 - Total assets at fair value $ 13,246 $ - $ 13,246 $ - Total liabilities at fair value $ - $ - $ - $ - Derivative financial instruments at fair value $ 38 $ - $ 38 $ - December 31, 2014 Total Level 1 Level 2 Level 3 U. S. Treasuries $ 4,020 $ - $ 4,020 $ - Government sponsored enterprises 8,038 - 8,038 - Mortgage-backed securities 1,022 - 1,022 - Marketable Equities 135 - 135 - Investment securities available for sale 13,215 - 13,215 - Total assets at fair value $ 13,215 $ - $ 13,215 $ - Total liabilities at fair value $ - $ - $ - $ - Derivative financial instruments at fair value $ 33 $ - $ 33 $ - Assets and Liabilities Recorded at Fair Value on a Non-recurring Basis The table below presents the recorded amount of assets and liabilities measured at fair value on a non-recurring basis. The Company has determined that Other Real Estate Owned and Impaired Loans are Level 3. June 30, 2015 Total Level 1 Level 2 Level 3 Other Real Estate Owned $ 2,445 - - $ 2,445 - - Construction/Land Development 11,163 - - 11,163 Farmland - - - - Real Estate 547 - - 547 Multi-Family - - - - Commercial Real Estate 874 - - 874 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance 49 - - 49 Impaired loans 12,633 - - 12,633 Total assets at fair value $ 15,078 $ - $ - $ 15,078 Total liabilities at fair value $ - $ - $ - $ - December 31, 2014 Total Level 1 Level 2 Level 3 Other Real Estate Owned $ 3,507 - - $ 3,507 - - Construction/Land Development 11,507 - - 11,507 Farmland - - - - Real Estate 825 - - 825 Multi-Family - - - - Commercial Real Estate 891 - - 891 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance - - - - Impaired loans 13,223 - - 13,223 Total assets at fair value $ 16,730 - $ - $ 16,730 Total liabilities at fair value $ - $ - $ - $ -

7. Disclosures About Fair Value

7. Disclosures About Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Disclosures About Fair Value Of Financial Instruments
7. Disclosures About Fair Value of Financial Instruments	ASC 825 “Financial Instruments” defines the fair value of a financial instrument as the amount at which a financial instrument could be exchanged in a current transaction between willing parties, other than in a forced liquidation or sale. As the majority of the Bank’s financial instruments lack an available trading market, significant estimates, assumptions and present value calculations are required to determine estimated fair value. The following presents the carrying amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2015 and December 31, 2014. This table excludes financial instruments for which the carrying amount approximates the fair value, which would be Level 1; inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. All financial instruments below are considered Level 2 with the exception of impaired loans (see previous table); inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. June 30, 2015 December 31, 2014 Estimated Carrying Estimated Carrying Fair Value Value Fair Value Value Financial Assets Loans $ 557,660 $ 532,805 $ 551,338 $ 518,202 Financial Liabilities Time deposits 177,093 175,567 196,826 195,464 Long-term debt 24,817 24,321 9,862 9,875 The carrying value of cash and cash equivalents, other investments, deposits with no stated maturities, short-term borrowings, and accrued interest approximate fair value. The fair value of securities was calculated using the most recent transaction price or a pricing model, which takes into consideration maturity, yields and quality. The remaining financial instruments were valued based on the present value of estimated future cash flows, discounted at various rates in effect for similar instruments entered into as of the end of each respective period shown above.

8. Troubled Debt Restructuring

8. Troubled Debt Restructuring	6 Months Ended
	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Asset Types
8. Troubled Debt Restructuring	In the determination of the allowance for loan losses, management considers troubled debt restructurings and subsequent defaults in these restructurings by adjusting the loan grades of such loans, which figure into the environmental factors associated with the allowance. Defaults resulting in charge-offs affect the historical loss experience ratios which are a component of the allowance calculation. Additionally, specific reserves may be established on restructured loans evaluated individually. During the six months ended June 30, 2015, there were eight loan modifications that were considered to be troubled debt restructurings. Modifications may have included rate adjustments, revisions to amortization schedules, suspension of principal payments for a temporary period, re-advancing funds to be applied as payments to bring the loan(s) current, or any combination thereof. Six Months ended June 30, 2015 Pre-Modification Post-Modification Outstanding Outstanding Number of Contracts Recorded Investment Recorded Investment Troubled Debt Restructurings Real Estate 4 $ 2,724 $ 2,724 Consumer 4 43 43 Total 8 $ 2,767 $ 2,767 During the quarter ended June 30, 2015, there were five loan modifications that were considered to be troubled debt restructurings. Three Months ended June 30, 2015 Pre-Modification Post-Modification Outstanding Outstanding Number of Contracts Recorded Investment Recorded Investment Troubled Debt Restructurings Real Estate 4 $ 2,724 $ 2,724 Consumer 1 6 6 Total 5 $ 2,730 $ 2,730 At June 30, 2015, one real estate loan (outstanding recorded investment of $95,000) that had been restructured in the previous 12 months, was in default or was on nonaccrual status. A restructured loan is considered in default when it becomes 90 days past due. During the six months and quarter ended, June 30, 2014, there were two loan modifications that were considered to be troubled debt restructurings; a real estate loan with a recorded investment of $85,000 and a consumer loan with a recorded investment of $24,000. There were also no troubled debt restructurings from the previous twelve months that went into default in the first quarter of 2014. A restructured loan is considered in default when it becomes 90 days past due.

1. Accounting Principles (Polic

1. Accounting Principles (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Principles Policies
Comprehensive Income	Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities and gains or losses on certain derivative contracts, are reported as a separate component of the equity section of the balance sheet. Such items, along with operating net income, are components of comprehensive income.
Subsequent Events	In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued.
Loans Held for Investment	Loans are carried on the balance sheet net of any unearned interest and the allowance for loan losses. Interest income on loans is determined using the effective interest method on the daily amount of principal outstanding except where serious doubt exists as to collectability of the loan, in which case the accrual of income is discontinued.
Loans Held for Sale	These loans consist of fixed rate loans made through its subsidiary, VBS Mortgage and loans purchased from NorthPointe Bank, Grand Rapids, MI.
Allowance for Loan Losses	The provision for loan losses charged to operations is an amount sufficient to bring the allowance for loan losses to an estimated balance that management considers adequate to absorb potential losses in the portfolio. Loans are charged against the allowance when management believes the collectability of the principal is unlikely. Recoveries of amounts previously charged-off are credited to the allowance. Management’s determination of the adequacy of the allowance is based on an evaluation of the composition of the loan portfolio, the value and adequacy of collateral, current economic conditions, historical loan loss experience, and other risk factors. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions, particularly those affecting real estate values. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses. Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent.
Nonaccrual Loans	Loans are placed on nonaccrual status when they become ninety days or more past due, unless there is an expectation that the loan will either be brought current or paid in full in a reasonable period of time.
Earnings per Share	Accounting guidance specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”) for entities with publicly held common stock or potential common stock such as options, warrants, convertible securities or contingent stock agreements if those securities trade in a public market. Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding. Diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive common shares had been issued. The dilutive effect of conversion of preferred stock is reflected in the diluted earnings per share calculation. Net income available to common stockholders represents consolidated net income adjusted for preferred dividends declared. The following table provides a reconciliation of net income to net income available to common stockholders for the periods presented: For the Six months ended For the quarter ended June 30, 2015 June 30, 2015 Earnings Available to Common Stockholders: Net Income $ 4,047,184 $ 2,176,633 Preferred Stock Dividends 255,000 127,500 Net Income Available to Common Stockolders $ 3,792,184 $ 2,049,133 The following table shows the effect of dilutive preferred stock conversion on the Company's earnings per share for the periods indicated: Six months ended June 30, 2015 Quarter ended June 30, 2015 Income Shares Per Share Amounts Income Shares Per Share Amounts Basic EPS $ 3,792,184 3,293,510 $ 1.15 $ 2,049,133 3,294,365 $ 0.62 Effect of Dilutive Securities: Convertible Preferred Stock 255,000 444,400 (0.07 ) 127,500 444,400 (0.04 ) Diluted EPS $ 4,047,184 3,737,910 $ 1.08 $ 2,176,633 3,738,765 $ 0.58

1. Accounting Principles (Table

1. Accounting Principles (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Principles Tables
Earnings per share	The following table provides a reconciliation of net income to net income available to common stockholders for the periods presented: For the Six months ended For the quarter ended June 30, 2015 June 30, 2015 Earnings Available to Common Stockholders: Net Income $ 4,047,184 $ 2,176,633 Preferred Stock Dividends 255,000 127,500 Net Income Available to Common Stockolders $ 3,792,184 $ 2,049,133 The following table shows the effect of dilutive preferred stock conversion on the Company's earnings per share for the periods indicated: Six months ended June 30, 2015 Quarter ended June 30, 2015 Income Shares Per Share Amounts Income Shares Per Share Amounts Basic EPS $ 3,792,184 3,293,510 $ 1.15 $ 2,049,133 3,294,365 $ 0.62 Effect of Dilutive Securities: Convertible Preferred Stock 255,000 444,400 (0.07 ) 127,500 444,400 (0.04 ) Diluted EPS $ 4,047,184 3,737,910 $ 1.08 $ 2,176,633 3,738,765 $ 0.58

2. Investment Securities (Table

2. Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Investment Securities Tables
Securities Impairment	The amortized costs of investment securities held to maturity are carried in the consolidated balance sheets and their approximate market values at June 30, 2015 and December 31, 2014 are as follows: 2015 2014 Market Market Cost Value Cost Value Securities held to maturity U. S. Treasury and agency obligations $ 125 $ 125 $ 125 $ 125 Total $ 125 $ 125 $ 125 $ 125 June 30, 2015 Unrealized Market Cost Gains Losses Value Securities available for sale U. S. Treasuries $ 4,021 $ 21 $ - $ 4,042 Government sponsored enterprises 8,149 11 16 8,144 Mortgage-backed securities 915 10 - 925 Marketable equities 135 - - 135 Total $ 13,220 $ 42 $ 16 $ 13,246 December 31, 2014 Unrealized Market Cost Gains Losses Value Securities available for sale U. S. Treasuries $ 4,026 $ - $ 6 $ 4,020 Government sponsored enterprises 8,039 9 10 8,038 Mortgage-backed securities 1,011 11 - 1,022 Marketable equities 135 - - 135 Total $ 13,211 $ 20 $ 16 $ 13,215
Schedule Amortized Cost and Fair Value for Securities	Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Held to Maturity Securities Available for Sale Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ - $ - $ - $ - Due after one year through five years 125 125 12,170 12,186 Due after five years - - 1,050 1,060 Total $ 125 $ 125 $ 13,220 $ 13,246
Schedule of Securities with Unrealized Losses	The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at June 30, 2015 and December 31, 2014 were as follows (dollars in thousands): Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2015 Government sponsored Enterprises $ 2,000 $ (16 ) $ - $ - $ 2,000 $ (16 ) Total $ 2,000 $ (16 ) $ - $ - $ 2,000 $ (16 ) December 31, 2014 U. S. Treasuries $ 4,020 $ (6 ) $ - $ - $ 4,020 $ (6 ) Government sponsored Enterprises 2,004 (2 ) 1,991 (8 ) 3,995 (10 ) Total $ 6,024 $ (8 ) $ 1,991 $ (8 ) $ 8,015 $ (16 )

3. Loans Held for Investment (T

3. Loans Held for Investment (Tables)	6 Months Ended
	Jun. 30, 2015
Loans Held For Investment Tables
Schedule of Loans Outstanding	Loans outstanding at June 30, 2015 and December 31, 2014 are summarized as follows: 2015 2014 Construction/Land Development $ 68,590 $ 67,181 Farmland 12,844 12,507 Real Estate 164,863 162,249 Multi-Family 12,104 11,775 Commercial Real Estate 124,635 122,305 Home Equity – closed end 9,329 9,394 Home Equity – open end 52,347 52,182 Commercial & Industrial – Non-Real Estate 28,435 28,161 Consumer 8,145 9,110 Dealer Finance 49,002 40,633 Credit Cards 2,511 2,705 Total $ 532,805 $ 518,202
Schedule Impaired Loans	The following is a summary of information pertaining to impaired loans (in thousands): Unpaid Average Interest June 30, 2015 Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized Impaired loans without a valuation allowance: Construction/Land Development $ 3,263 $ 3,401 $ - $ 4,678 $ 92 Farmland - - - - - Real Estate 1,241 1,241 - 342 36 Multi-Family - - - - - Commercial Real Estate 1,136 1,136 - 1,445 30 Home Equity – closed end - - - - - Home Equity – open end 1,547 1,547 - 969 72 Commercial & Industrial – Non-Real Estate 186 186 - 207 6 Consumer - - - - - Credit cards - - - - - Dealer Finance - - - - - 7,373 7,511 7,641 236 Impaired loans with a valuation allowance Construction/Land Development 12,923 12,923 1,760 13,142 191 Farmland - - - - - Real Estate 571 571 24 850 18 Multi-Family - - - - - Commercial Real Estate 880 880 6 952 2 Home Equity – closed end - - - - - Home Equity – open end - - - - - Commercial & Industrial – Non-Real Estate - - - - - Consumer - - - - - Credit cards - - - - - Dealer Finance 63 63 14 25 3 14,437 14,437 1,804 14,969 214 Total impaired loans $ 21,810 $ 21,948 $ 1,804 $ 22,610 $ 450 Unpaid Average Interest December 31, 2014 Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized Impaired loans without a valuation allowance: Construction/Land Development $ 4,982 $ 5,402 $ - $ 5,412 $ 251 Farmland - - - 1,163 - Real Estate 141 141 - 85 5 Multi-Family - - - - - Commercial Real Estate 1,159 1,459 - 1,450 66 Home Equity – closed end - - - 123 - Home Equity – open end 1,649 1,649 - 330 57 Commercial & Industrial – Non-Real Estate 191 191 - 237 11 Consumer - - - - - Credit cards - - - - - Dealer Finance - - - - - 8,122 8,842 8,800 390 Impaired loans with a valuation allowance Construction/Land Development 12,976 14,749 1,469 12,056 326 Farmland - - - - - Real Estate 926 926 101 988 105 Multi-Family - - - - - Commercial Real Estate 938 938 47 1,030 4 Home Equity – closed end - - - 72 - Home Equity – open end - - - 40 - Commercial & Industrial – Non-Real Estate - - - - - Consumer - - - - - Credit cards - - - - - Dealer Finance - - - - - 14,840 16,613 1,617 14,186 435 Total impaired loans $ 22,962 $ 25,455 $ 1,617 $ 22,986 $ 825

4. Allowance for Loan Losses (T

4. Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2015
Allowance For Loan Losses Tables
Summary Loan Loss Allowance Transactions	A summary of the allowance for loan losses follows: June 30, 2015 Beginning Balance Charge-offs Recoveries Provision Ending Balance Individually Evaluated for Impairment Collectively Evaluated for Impairment Allowance for loan losses: Construction/Land Development $ 4,738 $ 138 $ 81 $ 347 $ 5,028 $ 1,760 $ 3,268 Farmland 102 - - (1 ) 101 - 101 Real Estate 623 - - (125 ) 498 24 474 Multi-Family 95 - - - 95 - 95 Commercial Real Estate 126 - 28 (71 ) 83 6 77 Home Equity – closed end 188 24 - 11 175 - 175 Home Equity – open end 154 25 - 16 145 - 145 Commercial & Industrial – Non-Real Estate 1,014 - 56 (138 ) 932 - 932 Consumer 214 17 16 10 223 - 223 Dealer Finance 1,336 86 16 250 1,516 14 1,502 Credit Cards 135 41 23 1 118 - 118 Total $ 8,725 $ 331 $ 220 $ 300 $ 8,914 $ 1,804 $ 7,110 December 31, 2014 Beginning Balance Charge-offs Recoveries Provision Ending Balance Individually Evaluated for Impairment Collectively Evaluated for Impairment Allowance for loan losses: Construction/Land Development $ 4,007 $ 1,611 $ 223 $ 2,119 $ 4,738 $ 1,469 $ 3,269 Farmland (2 ) - - 104 102 - 102 Real Estate 400 208 - 431 623 101 522 Multi-Family - - - 95 95 - 95 Commercial Real Estate 777 - 108 (759 ) 126 47 79 Home Equity – closed end 157 - - 31 188 - 188 Home Equity – open end 476 80 - (242 ) 154 - 154 Commercial & Industrial – Non-Real Estate 1,464 385 356 (421 ) 1,014 - 1,014 Consumer 156 33 33 58 214 - 214 Dealer Finance 628 107 6 809 1,336 - 1,336 Credit Cards 121 46 35 25 135 - 135 Total $ 8,184 $ 2,470 $ 761 $ 2,250 $ 8,725 $ 1,617 $ 7,108
Recorded Investment in Loan Receivables	Recorded Investment in Loan Receivables (in thousands) June 30, 2015 Loan Receivable Individually Evaluated for Impairment Collectively Evaluated for Impairment Construction/Land Development $ 68,590 $ 16,186 $ 52,404 Farmland 12,844 - 12,844 Real Estate 164,863 1,812 163,051 Multi-Family 12,104 - 12,104 Commercial Real Estate 124,635 2,016 122,619 Home Equity – closed end 9,329 - 9,329 Home Equity –open end 52,347 1,547 50,800 Commercial & Industrial – Non-Real Estate 28,435 186 28,249 Consumer 8,145 - 8,145 Dealer Finance 49,002 63 48,939 Credit Cards 2,511 - 2,511 $ 532,805 $ 21,810 $ 510,995 Total December 31, 2014 Loan Receivable Individually Evaluated for Impairment Collectively Evaluated for Impairment Construction/Land Development $ 67,181 $ 17,958 $ 49,223 Farmland 12,507 - 12,507 Real Estate 162,249 1,067 161,182 Multi-Family 11,775 - 11,775 Commercial Real Estate 122,305 2,097 120,208 Home Equity – closed end 9,394 - 9,394 Home Equity –open end 52,182 1,649 50,533 Commercial & Industrial – Non-Real Estate 28,161 191 27,970 Consumer 9,110 - 9,110 Dealer Finance 40,633 40,633 Credit Cards 2,705 - 2,705 $ 518,202 $ 22,962 $ 495,240 Total
Schedule of Aging of Past Due Receivables	Aging of Past Due Loans Receivable (in thousands) as of June 30, 2015 30-59 Days Past due 60-89 Days Past Due Greater than 90 Days (excluding non-accrual) Non-Accrual Loans Total Past Due Current Total Loan Receivable June 30, 2015 Construction/Land Development $ 41 $ 337 $ - $ 4,536 $ 4,914 $ 63,676 $ 68,590 Farmland - - - - - 12,844 12,844 Real Estate 2,740 1,357 - 1,257 5,354 159,509 164,863 Multi-Family - - - - - 12,104 12,104 Commercial Real Estate 1,963 105 - 1,047 3,115 121,520 124,635 Home Equity – closed end 35 - - - 35 9,294 9,329 Home Equity – open end 126 25 136 115 402 51,945 52,347 Commercial & Industrial – Non- Real Estate 96 5 - - 101 28,334 28,435 Consumer 90 44 13 - 147 7,998 8,145 Dealer Finance 631 122 117 77 947 48,055 49,002 Credit Cards 4 6 1 - 11 2,500 2,511 Total $ 5,726 $ 2,001 $ 267 $ 7,032 $ 15,026 $ 517,779 $ 532,805 Aging of Past Due Loans Receivable (in thousands) as of December 31, 2014 30-59 Days Past due 60-89 Days Past Due Greater than 90 Days (excluding non-accrual) Non-Accrual Loans Total Past Due Current Total Loan Receivable December 31, 2014 Construction/Land Development $ 205 $ 166 $ - $ 4,508 $ 4,879 $ 62,302 $ 67,181 Farmland - - - - - 12,507 12,507 Real Estate 5,085 635 - 973 6,693 155,556 162,249 Multi-Family - - - - - 11,775 11,775 Commercial Real Estate 747 - - 1,165 1,912 120,393 122,305 Home Equity – closed end 162 15 - 10 187 9,207 9,394 Home Equity – open end 730 25 - 143 898 51,284 52,182 Commercial & Industrial – Non- Real Estate - - - 14 14 28,147 28,161 Consumer 290 9 - - 299 8,811 9,110 Dealer Finance 696 189 - 161 1,046 39,587 40,633 Credit Cards 36 - 1 - 37 2,668 2,705 Total $ 7,951 $ 1,039 $ 1 $ 6,974 $ 15,965 $ 502,237 $ 518,202
Corporate Credit Exposure	CREDIT QUALITY INDICATORS (in thousands) AS OF JUNE 30, 2015 Corporate Credit Exposure Credit Risk Profile by Creditworthiness Category Grade 1 Minimal Risk Grade 2 Modest Risk Grade 3 Average Risk Grade 4 Acceptable Risk Grade 5 Marginally Acceptable Grade 6 Watch Grade 7 Substandard Grade 8 Doubtful Total Construction/Land Development $ - $ 370 $ 8,390 $ 28,823 $ 9,084 $ 5,227 $ 16,696 $ - $ 68,590 Farmland 67 - 1,995 3,721 4,969 - 2,092 - 12,844 Real Estate - 799 55,609 74,765 22,617 8,126 2,947 - 164,863 Multi-Family - 430 4,059 3,105 4,510 - - 12,104 Commercial Real Estate - 1,763 26,312 67,024 17,802 9,828 1,906 - 124,635 Home Equity – closed end - - 3,856 3,592 1,609 178 94 - 9,329 Home Equity – open end - 1,631 13,875 28,462 4,009 234 4,136 - 52,347 Commercial & Industrial (Non-Real Estate) 578 54 5,958 17,725 3,360 757 3 - 28,435 Total $ 645 $ 5,047 $ 120,054 $ 227,217 $ 67,960 $ 24,350 $ 27,874 $ - $ 473,147 CREDIT QUALITY INDICATORS (in thousands) AS OF DECEMBER 31, 2014 Corporate Credit Exposure Credit Risk Profile by Creditworthiness Category Grade 1 Minimal Risk Grade 2 Modest Risk Grade 3 Average Risk Grade 4 Acceptable Risk Grade 5 Marginally Acceptable Grade 6 Watch Grade 7 Substandard Grade 8 Doubtful Total Construction/Land Development $ - $ 165 $ 8,460 $ 24,227 $ 9,605 $ 3,815 $ 20,909 $ - $ 67,181 Farmland 68 - 1,640 3,451 5,228 - 2,120 - 12,507 Real Estate - 629 60,290 66,464 23,934 7,083 3,849 - 162,249 Multi-Family - 468 4,145 2,183 4,979 - - - 11,775 Commercial Real Estate - 1,687 22,800 65,653 19,058 10,571 2,536 - 122,305 Home Equity – closed end - - 4,327 3,090 1,812 154 11 - 9,394 Home Equity – open end - 1,555 13,433 28,425 4,309 1,936 2,524 - 52,182 Commercial & Industrial (Non-Real Estate) 643 74 4,692 18,039 3,948 735 30 - 28,161 Total $ 711 $ 4,578 $ 119,787 $ 211,532 $ 72,873 $ 24,294 $ 31,979 $ - $ 465,754
Consumer Credit Exposure	Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Cards Consumer Performing $ 2,510 $ 57,017 Non performing 1 130 Total $ 2,511 $ 57,147 Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Cards Consumer Performing $ 2,704 $ 49,582 Non performing 1 161 Total $ 2,705 $ 49,743

5. Employee Benefit Plan (Table

5. Employee Benefit Plan (Tables)	6 Months Ended
	Jun. 30, 2015
EmployeeBenefitPlanTablesAbstract
Schedule of Employee Benefit Plan	The following is a summary of net periodic pension costs for the six-month and three-month periods ended June 30, 2015 and 2014. Six Months Ended Three Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Service cost $ 324,167 $ 250,514 $ 162,084 $ 125,257 Interest cost 205,472 188,854 102,736 94,427 Expected return on plan assets (419,409 ) (349,126 ) (209,705 ) (174,563 ) Amortization of net obligation at transition - - - - Amortization of prior service cost (7,618 ) (7,618 ) (3,809 ) (3,809 ) Amortization of net (gain) or loss 90,321 18,056 45,161 9,028 Net periodic pension cost $ 192,933 $ 100,680 $ 96,467 $ 50,340

6. Fair Value (Tables)

6. Fair Value (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Tables
Fair value measurements	For level 3 assets and liabilities measured at fair value on a recurring basis or non-recurring basis as of June 30, 2015 and December 31, 2014 and significant unobservable inputs used in the fair value measurements were as follows: Fair Value at June 30, 2015 Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 12,633 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Other Real Estate Owned $ 2,445 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Fair Value at December 31, 2014 Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 13,223 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 % Other Real Estate Owned $ 3,507 Discounted appraised value Discount for selling costs and age of appraisals 15%-55 %
Schedule Assets and Liabilities at Fair Value on Recurring Basis	The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. June 30, 2015 Total Level 1 Level 2 Level 3 U. S. Treasuries $ 4,042 $ - $ 4,042 $ - Government sponsored enterprises 8,144 - 8,144 - Mortgage-backed securities 925 - 925 - Marketable Equities 135 - 135 - Investment securities available for sale 13,246 - 13,246 - Total assets at fair value $ 13,246 $ - $ 13,246 $ - Total liabilities at fair value $ - $ - $ - $ - Derivative financial instruments at fair value $ 38 $ - $ 38 $ - December 31, 2014 Total Level 1 Level 2 Level 3 U. S. Treasuries $ 4,020 $ - $ 4,020 $ - Government sponsored enterprises 8,038 - 8,038 - Mortgage-backed securities 1,022 - 1,022 - Marketable Equities 135 - 135 - Investment securities available for sale 13,215 - 13,215 - Total assets at fair value $ 13,215 $ - $ 13,215 $ - Total liabilities at fair value $ - $ - $ - $ - Derivative financial instruments at fair value $ 33 $ - $ 33 $ -
Schedule of Assets and Liabilities at Fair Value on Non-recurring Basis	The table below presents the recorded amount of assets and liabilities measured at fair value on a non-recurring basis. The Company has determined that Other Real Estate Owned and Impaired Loans are Level 3. June 30, 2015 Total Level 1 Level 2 Level 3 Other Real Estate Owned $ 2,445 - - $ 2,445 - - Construction/Land Development 11,163 - - 11,163 Farmland - - - - Real Estate 547 - - 547 Multi-Family - - - - Commercial Real Estate 874 - - 874 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance 49 - - 49 Impaired loans 12,633 - - 12,633 Total assets at fair value $ 15,078 $ - $ - $ 15,078 Total liabilities at fair value $ - $ - $ - $ - December 31, 2014 Total Level 1 Level 2 Level 3 Other Real Estate Owned $ 3,507 - - $ 3,507 - - Construction/Land Development 11,507 - - 11,507 Farmland - - - - Real Estate 825 - - 825 Multi-Family - - - - Commercial Real Estate 891 - - 891 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance - - - - Impaired loans 13,223 - - 13,223 Total assets at fair value $ 16,730 - $ - $ 16,730 Total liabilities at fair value $ - $ - $ - $ -

7. Disclosures About Fair Val24

7. Disclosures About Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosures About Fair Value Of Financial Instruments Tables
Carrying Value and Estimated Fair Value for Financial Instruments	June 30, 2015 December 31, 2014 Estimated Carrying Estimated Carrying Fair Value Value Fair Value Value Financial Assets Loans $ 557,660 $ 532,805 $ 551,338 $ 518,202 Financial Liabilities Time deposits 177,093 175,567 196,826 195,464 Long-term debt 24,817 24,321 9,862 9,875

8. Troubled Debt Restructuring

8. Troubled Debt Restructuring (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Asset Types
Troubled debt restructuring	Six Months ended June 30, 2015 Pre-Modification Post-Modification Outstanding Outstanding Number of Contracts Recorded Investment Recorded Investment Troubled Debt Restructurings Real Estate 4 $ 2,724 $ 2,724 Consumer 4 43 43 Total 8 $ 2,767 $ 2,767 Three Months ended June 30, 2015 Pre-Modification Post-Modification Outstanding Outstanding Number of Contracts Recorded Investment Recorded Investment Troubled Debt Restructurings Real Estate 4 $ 2,724 $ 2,724 Consumer 1 6 6 Total 5 $ 2,730 $ 2,730

1. Accounting Principles (Detai

1. Accounting Principles (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Available to Common Stockholders:
Net Income	$ 2,176	$ 1,484	$ 4,047	$ 2,667
Preferred Stock Dividends	127		255
Net Income Available to Common Stockholders	$ 2,049	$ 1,484	$ 3,792	$ 2,667

1. Accounting Principles (Det27

1. Accounting Principles (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accounting Principles
Basic EPS, Income	$ 2,049	$ 1,484	$ 3,792	$ 2,667
Effect of Dilutive Securities Convertible Preferred Stock, Income	127		255
Diluted EPS, Income	$ 2,176	$ 1,484	$ 4,047	$ 2,667
Basic EPS, Shares	3,294,365	3,288,277	3,293,510	2,945,363
Effect of Dilutive Securities Convertible Preferred Stock, Shares	444,400		444,400
Diluted EPS, Shares	3,738,765	3,288,277	3,737,910	2,945,363
Basic EPS, Shares	$ 0.62	$ 0.45	$ 1.15	$ 0.91
Effect of Dilutive Securities Convertible Preferred Stock, Shares	(0.04)		(0.07)
Diluted EPS, Shares	$ 0.58	$ 0.45	$ 1.08	$ 0.91

2. Investment Securities (Detai

2. Investment Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Available-for-Sale Securities
Cost	$ 13,220	$ 13,211
Unrealized Gains	42	20
Unrealized Losses	16	16
Market Value	13,246	13,215
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	125	125
Market Value - Held-to-Maturity	125	125
U. S. Treasury and agency obligations [Member]
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	125	125
Market Value - Held-to-Maturity	125	125
U. S. Treasury
Available-for-Sale Securities
Cost	4,021	$ 4,026
Unrealized Gains	$ 21
Unrealized Losses		$ 6
Market Value	$ 4,042	4,020
Government sponsored enterprises [Member]
Available-for-Sale Securities
Cost	8,149	8,039
Unrealized Gains	11	9
Unrealized Losses	16	10
Market Value	8,144	8,038
Mortgage Backed Securities [Member]
Available-for-Sale Securities
Cost	915	1,011
Unrealized Gains	$ 10	$ 11
Unrealized Losses
Market Value	$ 925	$ 1,022
Marketable equities [Member]
Available-for-Sale Securities
Cost	$ 135	$ 135
Unrealized Gains
Unrealized Losses
Market Value	$ 135	$ 135

2. Investment Securities (Det29

2. Investment Securities (Details 1) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Total, Amortized Cost	$ 125	$ 125
Total, Fair Value	$ 125	$ 125
Held to maturity Securities [Member]
Due in one year or less, Amortized Cost
Due after one year through five years, Amortized Cost	$ 125
Due after five years, Amortized Cost
Due in one year or less, Fair Value
Due after one year through five years, Fair Value	$ 125
Due after five years, Fair Value
Total, Amortized Cost	$ 125
Total, Fair Value	$ 125
Available for sale Securities [Member]
Due in one year or less, Amortized Cost
Due after one year through five years, Amortized Cost	$ 12,170
Due after five years, Amortized Cost	$ 1,050
Due in one year or less, Fair Value
Due after one year through five years, Fair Value	$ 12,186
Due after five years, Fair Value	1,060
Total, Amortized Cost	13,220
Total, Fair Value	$ 13,246

2. Investment securities (Det30

2. Investment securities (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value Less than 12 Months	$ 2,000	$ 6,024
Unrealized Losses Less than 12 Months	$ (16)	(8)
Fair Value More than 12 Months		1,991
Unrealized Losses More than 12 Months		(8)
Fair Value Total	$ 2,000	8,015
Unrealized Losses Total	(16)	(16)
Government sponsored enterprises [Member]
Fair Value Less than 12 Months	2,000	2,004
Unrealized Losses Less than 12 Months	$ (16)	(2)
Fair Value More than 12 Months		1,991
Unrealized Losses More than 12 Months		(8)
Fair Value Total	$ 2,000	3,995
Unrealized Losses Total	$ (16)	(10)
U. S. Treasury
Fair Value Less than 12 Months		4,020
Unrealized Losses Less than 12 Months		$ (6)
Fair Value More than 12 Months
Unrealized Losses More than 12 Months
Fair Value Total		$ 4,020
Unrealized Losses Total		$ (6)

3. Loans Held for Investment (D

3. Loans Held for Investment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loans outstanding	$ 532,805	$ 518,202
Construction/Land Development [Member]
Loans outstanding	68,590	67,181
Farmland [Member]
Loans outstanding	12,844	12,507
Real Estate [Member]
Loans outstanding	164,863	162,249
Multi-Family [Member]
Loans outstanding	12,104	11,775
Commercial Real Estate [Member]
Loans outstanding	124,635	122,305
Home Equity - Closed End [Member]
Loans outstanding	9,329	9,394
Home Equity - Open End [Member]
Loans outstanding	52,347	52,182
Commercial & Industrial - Non-Real Estate [Member]
Loans outstanding	28,435	28,161
Consumer [Member]
Loans outstanding	8,145	9,110
Dealer Finance [Member]
Loans outstanding	49,002	40,633
Credit Cards [Member]
Loans outstanding	$ 2,511	$ 2,705

3. Loans Held for Investment 32

3. Loans Held for Investment (Details 1) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Impaired loans without a valuation allowance
Recorded Investment	$ 7,373	$ 8,122
Unpaid Principal Balance	$ 7,511	$ 8,842
Related Allowance
Average Recorded Investment	$ 7,641	$ 8,800
Interest Income Recognized	236	390
Impaired loans with a valuation allowance
Recorded Investment	14,437	14,840
Unpaid Principal Balance	14,437	16,613
Related Allowance	1,804	1,617
Average Recorded Investment	14,969	14,186
Interest Income Recognized	214	435
Recorded Investment	21,810	22,962
Unpaid Principal Balance	21,948	25,455
Related Allowance	1,804	1,617
Average Recorded Investment	22,610	22,986
Interest Income Recognized	450	825
Construction/Land Development [Member]
Impaired loans without a valuation allowance
Recorded Investment	3,263	4,982
Unpaid Principal Balance	$ 3,401	$ 5,402
Related Allowance
Average Recorded Investment	$ 4,678	$ 5,412
Interest Income Recognized	92	251
Impaired loans with a valuation allowance
Recorded Investment	12,923	12,976
Unpaid Principal Balance	12,923	14,749
Related Allowance	1,760	1,469
Average Recorded Investment	13,142	12,056
Interest Income Recognized	$ 191	$ 326
Farmland [Member]
Impaired loans without a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment		$ 1,163
Interest Income Recognized
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Real Estate [Member]
Impaired loans without a valuation allowance
Recorded Investment	$ 1,241	$ 141
Unpaid Principal Balance	$ 1,241	$ 141
Related Allowance
Average Recorded Investment	$ 342	$ 85
Interest Income Recognized	36	5
Impaired loans with a valuation allowance
Recorded Investment	571	926
Unpaid Principal Balance	571	926
Related Allowance	24	101
Average Recorded Investment	850	988
Interest Income Recognized	$ 18	$ 105
Multi-Family [Member]
Impaired loans without a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Commercial Real Estate [Member]
Impaired loans without a valuation allowance
Recorded Investment	$ 1,136	$ 1,159
Unpaid Principal Balance	$ 1,136	$ 1,459
Related Allowance
Average Recorded Investment	$ 1,445	$ 1,450
Interest Income Recognized	30	66
Impaired loans with a valuation allowance
Recorded Investment	880	938
Unpaid Principal Balance	880	938
Related Allowance	6	47
Average Recorded Investment	952	1,030
Interest Income Recognized	$ 2	$ 4
Home Equity - Closed End [Member]
Impaired loans without a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment		$ 123
Interest Income Recognized
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment		$ 72
Interest Income Recognized
Home Equity - Open End [Member]
Impaired loans without a valuation allowance
Recorded Investment	$ 1,547	$ 1,649
Unpaid Principal Balance	$ 1,547	$ 1,649
Related Allowance
Average Recorded Investment	$ 969	$ 330
Interest Income Recognized	$ 72	$ 57
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment		$ 40
Interest Income Recognized
Commercial & Industrial - Non-Real Estate [Member]
Impaired loans without a valuation allowance
Recorded Investment	$ 186	$ 191
Unpaid Principal Balance	$ 186	$ 191
Related Allowance
Average Recorded Investment	$ 207	$ 237
Interest Income Recognized	$ 6	$ 11
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Consumer [Member]
Impaired loans without a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Credit Cards [Member]
Impaired loans without a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Impaired loans with a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Dealer Finance [Member]
Impaired loans without a valuation allowance
Recorded Investment
Unpaid Principal Balance
Related Allowance
Average Recorded Investment
Interest Income Recognized
Impaired loans with a valuation allowance
Recorded Investment	$ 63
Unpaid Principal Balance	63
Related Allowance	14
Average Recorded Investment	25
Interest Income Recognized	$ 3

4. Allowance for Loan Losses (D

4. Allowance for Loan Losses (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Beginning Balance	$ 8,725	$ 8,184
Charge-offs	331	2,470
Recoveries	220	761
Provision	300	2,250
Ending Balance	8,914	8,725
Individually Evaluated for Impairment	1,804	1,617
Collectively Evaluated for Impairment	7,110	7,108
Construction/Land Development [Member]
Beginning Balance	4,738	4,007
Charge-offs	138	1,611
Recoveries	81	223
Provision	347	2,119
Ending Balance	5,028	4,738
Individually Evaluated for Impairment	1,760	1,469
Collectively Evaluated for Impairment	3,268	3,269
Farmland [Member]
Beginning Balance	$ 102	$ (2)
Charge-offs
Recoveries
Provision	$ (1)	$ 104
Ending Balance	$ 101	$ 102
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 101	$ 102
Real Estate [Member]
Beginning Balance	$ 623	400
Charge-offs		$ 208
Recoveries
Provision	$ (125)	$ 431
Ending Balance	498	623
Individually Evaluated for Impairment	24	101
Collectively Evaluated for Impairment	474	$ 522
Multi-Family [Member]
Beginning Balance	$ 95
Charge-offs
Recoveries
Provision		$ 95
Ending Balance	$ 95	$ 95
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 95	$ 95
Commercial Real Estate [Member]
Beginning Balance	$ 126	$ 777
Charge-offs
Recoveries	$ 28	$ 108
Provision	(71)	(759)
Ending Balance	83	126
Individually Evaluated for Impairment	6	47
Collectively Evaluated for Impairment	77	79
Home Equity - Closed End [Member]
Beginning Balance	188	$ 157
Charge-offs	$ 24
Recoveries
Provision	$ 11	$ 31
Ending Balance	$ 175	$ 188
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 175	$ 188
Home Equity - Open End [Member]
Beginning Balance	154	476
Charge-offs	$ 25	$ 80
Recoveries
Provision	$ 16	$ (242)
Ending Balance	$ 145	$ 154
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 145	$ 154
Commercial & Industrial - Non-Real Estate [Member]
Beginning Balance	$ 1,014	1,464
Charge-offs		385
Recoveries	$ 56	356
Provision	(138)	(424)
Ending Balance	$ 932	$ 1,014
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 932	$ 1,014
Consumer [Member]
Beginning Balance	214	156
Charge-offs	17	33
Recoveries	16	33
Provision	10	58
Ending Balance	$ 223	$ 214
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 223	$ 214
Dealer Finance [Member]
Beginning Balance	1,336	628
Charge-offs	86	107
Recoveries	16	6
Provision	250	809
Ending Balance	1,516	$ 1,336
Individually Evaluated for Impairment	14
Collectively Evaluated for Impairment	1,502	$ 1,336
Credit Cards [Member]
Beginning Balance	135	121
Charge-offs	41	46
Recoveries	23	35
Provision	1	25
Ending Balance	$ 118	$ 135
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 118	$ 135

4. Allowance for Loan Losses 34

4. Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Loan Receivable	$ 532,805	$ 518,202
Individually Evaluated for Impairment	21,810	22,962
Collectively Evaluated for Impairment	510,995	495,240
Construction/Land Development [Member]
Loan Receivable	68,590	67,181
Individually Evaluated for Impairment	16,186	17,958
Collectively Evaluated for Impairment	52,404	49,223
Farmland [Member]
Loan Receivable	$ 12,844	$ 12,507
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 12,844	$ 12,507
Real Estate [Member]
Loan Receivable	164,863	162,249
Individually Evaluated for Impairment	1,812	1,067
Collectively Evaluated for Impairment	163,051	161,182
Multi-Family [Member]
Loan Receivable	$ 12,104	$ 11,775
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 12,104	$ 11,775
Commercial Real Estate [Member]
Loan Receivable	124,635	122,305
Individually Evaluated for Impairment	2,016	2,097
Collectively Evaluated for Impairment	122,619	120,208
Home Equity - Closed End [Member]
Loan Receivable	$ 9,329	$ 9,394
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 9,329	$ 9,394
Home Equity - Open End [Member]
Loan Receivable	52,347	52,182
Individually Evaluated for Impairment	1,547	1,649
Collectively Evaluated for Impairment	50,800	50,533
Commercial & Industrial - Non-Real Estate [Member]
Loan Receivable	28,435	28,161
Individually Evaluated for Impairment	186	191
Collectively Evaluated for Impairment	28,249	27,970
Consumer [Member]
Loan Receivable	$ 8,145	$ 9,110
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 8,145	$ 9,110
Dealer Finance [Member]
Loan Receivable	49,002	40,633
Individually Evaluated for Impairment	63
Collectively Evaluated for Impairment	48,939	40,633
Credit Cards [Member]
Loan Receivable	$ 2,511	$ 2,705
Individually Evaluated for Impairment
Collectively Evaluated for Impairment	$ 2,511	$ 2,705

4. Allowance for Loan Losses 35

4. Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
30-59 Days Past due	$ 5,726	$ 7,951
60-89 Days Past due	2,001	1,039
Greater than 90 Days (excluding non-accrual)	267	1
Non-Accrual Loans	7,032	6,974
Total past due	15,026	15,965
Current	517,779	502,237
Total Loans Receivable	532,805	518,202
Construction/Land Development [Member]
30-59 Days Past due	41	205
60-89 Days Past due	$ 337	$ 166
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans	$ 4,536	$ 4,508
Total past due	4,914	4,879
Current	63,676	62,302
Total Loans Receivable	$ 68,590	$ 67,181
Farmland [Member]
30-59 Days Past due
60-89 Days Past due
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans
Total past due
Current	$ 12,844	$ 12,507
Total Loans Receivable	12,844	12,507
Real Estate [Member]
30-59 Days Past due	2,740	5,085
60-89 Days Past due	$ 1,357	$ 635
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans	$ 1,257	$ 973
Total past due	5,354	6,693
Current	159,509	155,556
Total Loans Receivable	$ 164,863	$ 162,249
Multi-Family [Member]
30-59 Days Past due
60-89 Days Past due
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans
Total past due
Current	$ 12,104	$ 11,775
Total Loans Receivable	12,104	11,775
Commercial Real Estate [Member]
30-59 Days Past due	1,963	$ 747
60-89 Days Past due	$ 105
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans	$ 1,047	$ 1,165
Total past due	3,115	1,912
Current	121,520	120,393
Total Loans Receivable	124,635	122,305
Home Equity - Closed End [Member]
30-59 Days Past due	$ 35	162
60-89 Days Past due		$ 15
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans		$ 10
Total past due	$ 35	187
Current	9,294	9,207
Total Loans Receivable	9,329	9,394
Home Equity - Open End [Member]
30-59 Days Past due	126	730
60-89 Days Past due	25	$ 25
Greater than 90 Days (excluding non-accrual)	136
Non-Accrual Loans	115	$ 143
Total past due	402	898
Current	51,945	51,284
Total Loans Receivable	52,347	$ 52,182
Commercial & Industrial - Non-Real Estate [Member]
30-59 Days Past due	96
60-89 Days Past due	$ 5
Greater than 90 Days (excluding non-accrual)
Non-Accrual Loans		$ 14
Total past due	$ 101	14
Current	28,334	28,147
Total Loans Receivable	28,435	28,161
Consumer [Member]
30-59 Days Past due	90	290
60-89 Days Past due	44	$ 9
Greater than 90 Days (excluding non-accrual)	$ 13
Non-Accrual Loans
Total past due	$ 147	$ 299
Current	7,998	8,811
Total Loans Receivable	8,145	9,110
Dealer Finance [Member]
30-59 Days Past due	631	696
60-89 Days Past due	122	$ 189
Greater than 90 Days (excluding non-accrual)	117
Non-Accrual Loans	77	$ 161
Total past due	947	1,046
Current	48,055	39,587
Total Loans Receivable	49,002	40,633
Credit Cards [Member]
30-59 Days Past due	4	$ 36
60-89 Days Past due	6
Greater than 90 Days (excluding non-accrual)	$ 1	$ 1
Non-Accrual Loans
Total past due	$ 11	$ 37
Current	2,500	2,668
Total Loans Receivable	$ 2,511	$ 2,705

4. Allowance for Loan Losses 36

4. Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Construction/Land Development	$ 68,590	$ 67,181
Farmland	12,844	12,507
Real Estate	164,863	162,249
Multi-Family	12,104	11,775
Commercial Real Estate	124,635	122,305
Home Equity - closed end	9,329	9,394
Home Equity - open end	52,347	52,182
Commercial & Industrial (Non-Real Estate)	28,435	28,161
Total	$ 473,147	$ 465,754
Grade 1 Minimal Risk [Member]
Construction/Land Development
Farmland	$ 67	$ 68
Real Estate
Multi-Family
Commercial Real Estate
Home Equity - closed end
Home Equity - open end
Commercial & Industrial (Non-Real Estate)	$ 578	$ 643
Total	645	711
Grade 2 Modest Risk [Member]
Construction/Land Development	$ 370	$ 165
Farmland
Real Estate	$ 799	$ 629
Multi-Family	430	468
Commercial Real Estate	$ 1,763	$ 1,687
Home Equity - closed end
Home Equity - open end	$ 1,631	$ 1,555
Commercial & Industrial (Non-Real Estate)	54	74
Total	5,047	4,578
Grade 3 Average Risk [Member]
Construction/Land Development	8,390	8,460
Farmland	1,995	1,640
Real Estate	55,609	60,290
Multi-Family	4,059	4,145
Commercial Real Estate	26,312	22,800
Home Equity - closed end	3,856	4,327
Home Equity - open end	13,875	13,433
Commercial & Industrial (Non-Real Estate)	5,958	4,692
Total	120,054	119,787
Grade 4 Acceptable Risk [Member]
Construction/Land Development	28,823	24,227
Farmland	3,721	3,451
Real Estate	74,765	66,464
Multi-Family	3,105	2,183
Commercial Real Estate	67,024	65,653
Home Equity - closed end	3,592	3,090
Home Equity - open end	28,462	28,425
Commercial & Industrial (Non-Real Estate)	17,725	18,039
Total	227,217	211,532
Grade 5 Marginally Acceptable [Member]
Construction/Land Development	9,084	9,605
Farmland	4,969	5,228
Real Estate	22,617	23,934
Multi-Family	4,510	4,979
Commercial Real Estate	17,802	19,058
Home Equity - closed end	1,609	1,812
Home Equity - open end	4,009	4,309
Commercial & Industrial (Non-Real Estate)	3,360	3,948
Total	67,960	72,873
Grade 6 Watch [Member]
Construction/Land Development	$ 5,227	$ 3,815
Farmland
Real Estate	$ 8,126	$ 7,083
Multi-Family
Commercial Real Estate	9,828	$ 10,571
Home Equity - closed end	178	154
Home Equity - open end	234	1,936
Commercial & Industrial (Non-Real Estate)	757	735
Total	24,350	24,294
Grade 7 Substandard [Member]
Construction/Land Development	16,696	20,909
Farmland	2,092	2,120
Real Estate	$ 2,947	$ 3,849
Multi-Family
Commercial Real Estate	$ 1,906	$ 2,536
Home Equity - closed end	94	11
Home Equity - open end	4,136	2,524
Commercial & Industrial (Non-Real Estate)	3	30
Total	$ 27,874	$ 31,979
Grade 8 Doubtful [Member]
Construction/Land Development
Farmland
Real Estate
Multi-Family
Commercial Real Estate
Home Equity - closed end
Home Equity - open end
Commercial & Industrial (Non-Real Estate)
Total

4. Allowance for Loan Losses 37

4. Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Credit cards	$ 2,511	$ 2,705
Consumer	57,147	49,743
Performing [Member]
Credit cards	2,510	2,704
Consumer	57,017	49,582
Non performing [Member]
Credit cards	1	1
Consumer	$ 130	$ 161

5. Employee Benefit Plan (Detai

5. Employee Benefit Plan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Employee Benefit Plan Details
Service cost	$ 162,084	$ 125,257	$ 324,167	$ 250,514
Interest cost	102,736	94,427	205,472	188,854
Expected return on plan assets	$ (209,705)	$ (174,563)	$ (419,409)	$ (349,126)
Amortization of net obligation at transition
Amortization of prior service cost	$ (3,809)	$ (3,809)	$ (7,618)	$ (7,618)
Amortization of net (gain) or loss	45,161	9,028	90,321	18,056
Net periodic pension cost	$ 96,467	$ 50,340	$ 192,933	$ 100,680

5. Employee Benefit Plan (Det39

5. Employee Benefit Plan (Details Narrative) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Employee Benefit Plan Details Narrative
Contribution to employee benefit plan	$ 750

6. Fair Value (Details)

6. Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Impaired loans	$ 12,633	$ 13,223
Fair Value Inputs Level 3 [Member]
Impaired loans	12,633	13,223
Other Real Estate Owned	$ 2,445	$ 3,507
Fair Value Measurements, Valuation Techniques	Discounted appraised value	Discounted appraised value
Significant Unobservable Inputs	Discount for selling costs and age of appraisals	Discount for selling costs and age of appraisals
Fair Value Inputs Level 3 [Member] | Minimum [Member]
Fair Value Measurements, Valuation range	15.00%	15.00%
Fair Value Inputs Level 3 [Member] | Maximum [Member]
Fair Value Measurements, Valuation range	55.00%	55.00%

6. Fair Value (Details 1)

6. Fair Value (Details 1) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Total assets at fair value	$ 13,246	$ 13,215
Total liabilities at fair value
Derivative financial instruments at fair value	$ 38	$ 33
Marketable equities [Member]
Total assets at fair value	$ 135	$ 135
Fair Value Inputs Level 1 [Member]
Total assets at fair value
Total liabilities at fair value
Derivative financial instruments at fair value
Fair Value Inputs Level 2 [Member]
Total assets at fair value	$ 13,246	$ 13,215
Total liabilities at fair value
Derivative financial instruments at fair value	$ 38	$ 33
Fair Value Inputs Level 3 [Member]
Total assets at fair value
Total liabilities at fair value
Derivative financial instruments at fair value
U.S. Treasury Securities [Member]
Total assets at fair value	$ 4,042	$ 4,020
U.S. Treasury Securities [Member] | Fair Value Inputs Level 1 [Member]
Total assets at fair value
U.S. Treasury Securities [Member] | Fair Value Inputs Level 2 [Member]
Total assets at fair value	$ 4,042	$ 4,020
U.S. Treasury Securities [Member] | Fair Value Inputs Level 3 [Member]
Total assets at fair value
Government Sponsored Enterprises [Member]
Total assets at fair value	$ 8,144	$ 8,038
Government Sponsored Enterprises [Member] | Fair Value Inputs Level 1 [Member]
Total assets at fair value
Government Sponsored Enterprises [Member] | Fair Value Inputs Level 2 [Member]
Total assets at fair value	$ 8,144	$ 8,038
Government Sponsored Enterprises [Member] | Fair Value Inputs Level 3 [Member]
Total assets at fair value
Mortgage Backed Obligations of Federal Agencies [Member]
Total assets at fair value	$ 925	$ 1,022
Mortgage Backed Obligations of Federal Agencies [Member] | Fair Value Inputs Level 1 [Member]
Total assets at fair value
Mortgage Backed Obligations of Federal Agencies [Member] | Fair Value Inputs Level 2 [Member]
Total assets at fair value	$ 925	$ 1,022
Mortgage Backed Obligations of Federal Agencies [Member] | Fair Value Inputs Level 3 [Member]
Total assets at fair value
Marketable equities [Member] | Fair Value Inputs Level 1 [Member]
Total assets at fair value
Marketable equities [Member] | Fair Value Inputs Level 2 [Member]
Total assets at fair value	$ 135	$ 135
Marketable equities [Member] | Fair Value Inputs Level 3 [Member]
Total assets at fair value
Available for sale Securities [Member]
Total assets at fair value	$ 13,246	$ 13,215
Available for sale Securities [Member] | Fair Value Inputs Level 1 [Member]
Total assets at fair value
Available for sale Securities [Member] | Fair Value Inputs Level 2 [Member]
Total assets at fair value	$ 13,246	$ 13,215
Available for sale Securities [Member] | Fair Value Inputs Level 3 [Member]
Total assets at fair value

6. Fair Value (Details 2)

6. Fair Value (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Impaired loans	$ 12,633	$ 13,223
Total assets at fair value	$ 15,078	$ 16,730
Total liabilities at fair value
Fair Value Inputs Level 1 [Member]
Impaired loans
Total assets at fair value
Total liabilities at fair value
Fair Value Inputs Level 2 [Member]
Impaired loans
Total assets at fair value
Total liabilities at fair value
Fair Value Inputs Level 3 [Member]
Other Real Estate Owned Loans	$ 2,445	$ 3,507
Impaired loans	12,633	13,223
Total assets at fair value	$ 15,078	$ 16,730
Total liabilities at fair value
Other Real Estate Owned
Other Real Estate Owned Loans	$ 2,445	$ 3,507
Other Real Estate Owned | Fair Value Inputs Level 1 [Member]
Other Real Estate Owned Loans
Other Real Estate Owned | Fair Value Inputs Level 2 [Member]
Other Real Estate Owned Loans
Other Real Estate Owned | Fair Value Inputs Level 3 [Member]
Other Real Estate Owned Loans	$ 2,445	$ 3,507
Construction/Land Development [Member]
Impaired loans	$ 11,163	$ 11,507
Construction/Land Development [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Construction/Land Development [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Construction/Land Development [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans	$ 11,163	$ 11,507
Farmland [Member]
Impaired loans
Farmland [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Farmland [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Farmland [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Real Estate [Member]
Impaired loans	$ 547	$ 825
Real Estate [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Real Estate [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Real Estate [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans	$ 547	$ 825
Multi-Family [Member]
Impaired loans
Multi-Family [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Multi-Family [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Multi-Family [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Commercial Real Estate [Member]
Impaired loans	$ 874	$ 891
Commercial Real Estate [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Commercial Real Estate [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Commercial Real Estate [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans	$ 874	$ 891
Home Equity - Closed End [Member]
Impaired loans
Home Equity - Closed End [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Home Equity - Closed End [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Home Equity - Closed End [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Home Equity - Open End [Member]
Impaired loans
Home Equity - Open End [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Home Equity - Open End [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Home Equity - Open End [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Commercial & Industrial - Non-Real Estate [Member]
Impaired loans
Commercial & Industrial - Non-Real Estate [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Commercial & Industrial - Non-Real Estate [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Commercial & Industrial - Non-Real Estate [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Consumer [Member]
Impaired loans
Consumer [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Consumer [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Consumer [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Credit Cards [Member]
Impaired loans
Credit Cards [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Credit Cards [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Credit Cards [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans
Dealer Finance [Member]
Impaired loans	$ 49
Dealer Finance [Member] | Fair Value Inputs Level 1 [Member]
Impaired loans
Dealer Finance [Member] | Fair Value Inputs Level 2 [Member]
Impaired loans
Dealer Finance [Member] | Fair Value Inputs Level 3 [Member]
Impaired loans	$ 49

7. Disclosures About Fair Val43

7. Disclosures About Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financial Assets
Loans, Estimated Fair Value	$ 557,660	$ 551,338
Loans, Carrying value	532,805	518,202
Financial Liabilities
Time deposits, Estimated Fair Value	177,093	196,826
Time deposits, Carrying Value	175,567	195,464
Long-term debt, Estimated Fair Value	24,817	9,862
Long-term debt, Carrying Value	$ 24,321	$ 9,875

8. Troubled Debt Restructurin44

8. Troubled Debt Restructuring (Details) - Jun. 30, 2015 $ in Thousands	USD ($)Integer	USD ($)Integer
Number of Contracts | Integer	5	8
Pre-Modification Outstanding Recorded Investment	$ 2,730	$ 2,767
Post-Modification Outstanding Recorded Investment	$ 2,730	$ 2,767
Real Estate [Member]
Number of Contracts | Integer	4	4
Pre-Modification Outstanding Recorded Investment	$ 2,724	$ 2,724
Post-Modification Outstanding Recorded Investment	$ 2,724	$ 2,724
Consumer [Member]
Number of Contracts | Integer	1	4
Pre-Modification Outstanding Recorded Investment	$ 6	$ 43
Post-Modification Outstanding Recorded Investment	$ 6	$ 43