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Component: (Network and Table)
Network
081800 - Disclosure - Fair Value Measurement (Tables)
(http://tfb.bank/role/FairValueMeasurementTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001083643 (http://www.sec.gov/CIK)
Fair Value Measurement [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Fair Value Measurement [Abstract]
 
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 by levels within the valuation hierarchy:

 
 
Fair Value Measurements Using
 
(In thousands)
 
Balance
  
Quoted Prices in Active Markets for Identical Assets (Level 1)
  
Significant Other Observable Inputs (Level 2)
  
Significant Unobservable Inputs (Level 3)
 
Assets at December 31, 2016
            
Available for sale securities:
            
Obligations of U.S. Government corporations and agencies
 
$
40,504
  
$
-
  
$
40,504
  
$
-
 
Obligations of states and political subdivisions
  
6,310
   
-
   
6,310
   
-
 
Corporate bonds
  
2,785
   
-
   
-
   
2,785
 
Mutual funds
  
374
   
374
   
-
   
-
 
Total available for sale securities
  
49,973
   
374
   
46,814
   
2,785
 
 
                
Interest rate swaps
  
250
   
-
   
250
   
-
 
Total assets at fair value
 
$
50,223
  
$
374
  
$
47,064
  
$
2,785
 
 
                
Liabilities at December 31, 2016
                
Interest rate swaps
 
$
216
  
$
-
  
$
216
  
$
-
 
Total liabilities at fair value
 
$
216
  
$
-
  
$
216
  
$
-
 
 
                
Assets at December 31, 2015
                
Available for sale securities:
                
Obligations of U.S. Government corporations and agencies
 
$
45,792
  
$
-
  
$
45,792
  
$
-
 
Obligations of states and political subdivisions
  
6,200
   
-
   
6,200
   
-
 
Corporate bonds
  
2,860
   
-
   
2,860
   
-
 
Mutual funds
  
372
   
372
   
-
   
-
 
Total available for sale securities
  
55,224
   
372
   
54,852
   
-
 
 
                
Interest rate swaps
  
2
   
-
   
2
   
-
 
Total assets at fair value
 
$
55,226
  
$
372
  
$
54,854
  
$
-
 
 
                
Liabilities at December 31, 2015
                
Interest rate swaps
 
$
335
  
$
-
  
$
335
  
$
-
 
Total liabilities at fair value
 
$
335
  
$
-
  
$
335
  
$
-
 

  
Change in Level 3 Assets Measured at Fair Value on a Recurring Basis

 
Total Gains (Losses) Realized/Unrealized
 
(In thousands)
Balance January 1, 2016
 
Included in earnings
 
Included in Other Comprehensive Income
 
Transfers in
and/or out of Level 3
and 2
 
Balance
December 31, 2016
 
Available for sale securities
 
$
-
  
$
-
  
$
-
  
$
2,785
  
$
2,785
 


  
Financial Assets Measured at Fair Value on a Nonrecurring Basis
The following table summarizes the Company's financial assets that were measured at fair value on a nonrecurring basis during the period:

 
Carrying Value at December 31, 2016
 
(In thousands)
Balance as of
December 31, 2016
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant Other
Unobservable Inputs
(Level 3)
 
Assets:
        
Impaired loans, net
 
$
3,597
  
$
-
  
$
3,509
  
$
88
 
Other real estate owned, net
  
1,356
   
-
   
-
   
1,356
 

 
Carrying Value at December 31, 2015
 
(In thousands)
Balance as of
December 31, 2015
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant Other
Unobservable Inputs
(Level 3)
 
Assets:
        
Impaired loans, net
 
$
337
  
$
-
  
$
293
  
$
44
 
Other real estate owned, net
  
1,356
   
-
   
1,356
   
-
 

  
Quantitative Information About Level 3 Fair Value Measurements
The following table displays quantitative information about Level 3 Fair Value Measurements for December 31, 2016 and 2015:

 
 
Quantitative Information about Level 3 Fair Value Measurements at December 31, 2016
 
(In thousands)
 
Fair
Value
  
Valuation
Technique(s)
 
Unobservable Input
 
Weighted
Average
 
Corporate securities available for sale
 
$
2,785
  
Market values
 
Discounted cash flows
  
0
%
Impaired Loans
  
88
  
 Appraised values
 
Age of appraisal, current market conditions, experience within local market, and U.S. Government guarantees
  
81
%
Other real estate owned, net
  
1,356
  
Appraised values
 
Age of appraisal, current market conditions and selling costs
  
18
%
Total
 
$
4,229
  
 
      

 
Quantitative Information about Level 3 Fair Value Measurements at December 31, 2015
 
(In thousands)
Fair
Value
  
Valuation
Technique(s)
 
Unobservable Input
 
Weighted
Average
 
Impaired Loans
 
$
44
  
Appraised values
 
Age of appraisal, current market conditions, experience within local market, and U.S. Government guarantees
   
90
%
Total
 
$
44
  
 
 
 
     

  
Estimated Fair Values of Financial Instruments
The estimated fair values of the Company's financial instruments are as follows:
 
 
 
Fair Value Measurements at December 31, 2016
 
(In thousands)
 
Carrying
Value as of
December 31, 2016
  
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  
Significant Other
Observable Inputs
(Level 2)
  
Significant
Other
Unobservable
Inputs
(Level 3)
  
Fair Value as of
December 31, 2016
 
Assets
               
Cash and short-term investments
 
$
67,846
  
$
67,581
  
$
-
  
$
-
  
$
67,581
 
Securities available for sale
  
49,973
   
374
   
46,814
   
2,785
   
49,973
 
Restricted investments
  
1,782
   
-
   
1,782
   
-
   
1,782
 
Net loans
  
458,608
   
-
   
455,514
   
88
   
455,602
 
Accrued interest receivable
  
1,550
   
-
   
1,550
   
-
   
1,550
 
Interest rate swaps
  
250
   
-
   
250
   
-
   
250
 
BOLI
  
12,873
   
-
   
12,873
   
-
   
12,873
 
Total Financial Assets
 
$
592,882
  
$
67,955
  
$
518,783
  
$
2,873
  
$
589,611
 
 
                    
Liabilities
                    
Deposits
 
$
546,157
  
$
-
  
$
545,669
  
$
-
  
$
545,669
 
Borrowings
  
12,936
   
-
   
12,922
   
-
   
12,922
 
Junior subordinated debt
  
4,124
   
-
   
4,144
   
-
   
4,144
 
Accrued interest payable
  
112
   
-
   
112
   
-
   
112
 
Interest rate swaps
  
216
   
-
   
216
   
-
   
216
 
Total financial liabilities
 
$
563,545
  
$
-
  
$
563,063
  
$
-
  
$
563,063
 

 
 
Fair Value Measurements at December 31, 2015
 
(In thousands)
 
Carrying
Value as of
December 31, 2015
  
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  
Significant Other
Observable Inputs
(Level 2)
  
Significant
Other
Unobservable
Inputs
(Level 3)
  
Fair Value of December 31, 2015
 
Assets
               
Cash and short-term investments
 
$
53,215
  
$
53,031
  
$
-
  
$
-
  
$
53,031
 
Securities available for sale
  
55,224
   
372
   
54,852
   
-
   
55,224
 
Restricted investments
  
1,286
   
-
   
1,286
   
-
   
1,286
 
Net loans
  
442,669
   
-
   
443,724
   
44
   
443,768
 
Accrued interest receivable
  
1,462
   
-
   
1,462
   
-
   
1,462
 
Interest rate swaps
  
2
   
-
   
2
   
-
   
2
 
BOLI
  
12,511
   
-
   
12,511
   
-
   
12,511
 
Total Financial Assets
 
$
566,369
  
$
53,403
  
$
513,837
  
$
44
  
$
567,284
 
 
                    
Liabilities
                    
Deposits
 
$
524,294
  
$
-
  
$
524,094
  
$
-
  
$
524,094
 
Borrowings
  
13,007
   
-
   
13,081
   
-
   
13,081
 
Junior subordinated debt
  
4,124
   
-
   
4,185
   
-
   
4,185
 
Accrued interest payable
  
108
   
-
   
108
   
-
   
108
 
Interest rate swaps
  
335
   
-
   
335
   
-
   
335
 
Total financial liabilities
 
$
541,868
  
$
-
  
$
541,803
  
$
-
  
$
541,803