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00000036 - Disclosure - FAIR VALUE MEASUREMENT (Tables)
(http://firstcommunitysc.com/role/FairValueMeasurementTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000932781 (http://www.sec.gov/CIK)
Fair Value Disclosures [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Fair Value Disclosures [Abstract]
 
Schedule of carrying amount and estimated fair value by classification Level of the Company's financial instruments
    December 31, 2016  
          Fair Value  
(Dollars in thousands)   Carrying
Amount		     Total     Level 1     Level 2     Level 3  
Financial Assets:                                        
Cash and short term investments   $ 21,999     $ 21,999     $ 21,999     $ —     $ —  
Held-to-maturity securities     17,193       17,114       —       17,114       —  
Available-for-sale securities     253,394       253,394       801       251,593       1,000  
Other investments, at cost     1,809       1,809       —       —       1,809  
Loans held for sale     5,707       5,707       —       5,707       —  
Net loans receivable     541,495       540,487       —       534,674       5,813  
Accrued interest     2,925       2,925       2,925       —       —  
Financial liabilities:                                        
Non-interest bearing demand   $ 182,915     $ 182,915     $ —     $ 182,915     $ —  
NOW and money market accounts     327,459       327,459       —       327,459       —  
Savings     75,012       75,012       —       75,012       —  
Time deposits     181,236       181,638       —       181,638       —  
Total deposits     766,622       767,024       —       767,024       —  
Federal Home Loan Bank Advances     24,035       24,518       —       24,518       —  
Short term borrowings     19,527       19,527       —       19,527       —  
Junior subordinated debentures     14,964       15,258       —       15,258       —  
Accrued interest payable     602       602       602       —       —  

 

    December 31, 2015  
          Fair Value  
(Dollars in thousands)   Carrying
Amount		     Total     Level 1     Level 2     Level 3  
Financial Assets:                                        
Cash and short term investments   $ 22,941     $ 22,941     $ 22,941     $ —     $ —  
Held-to-maturity securities     17,371       17,555       —       17,555       —  
Available-for-sale securities     264,687       264,687       812       263,458       417  
Other investments, at cost     1,783       1,783       —       —       1,783  
Loans held for sale     2,962       2,962       —       2,962       —  
Net loans receivable     484,595       484,669       —       478,195       6,474  
Accrued interest     2,877       2,877       2,877       —       —  
Financial liabilities:                                        
Non-interest bearing demand   $ 156,247     $ 156,247     $ —     $ 156,247     $ —  
NOW and money market accounts     318,308       318,308       —       318,308       —  
Savings     60,699       60,699       —       60,699       —  
Time deposits     180,897       181,325       —       181,325       —  
Total deposits     716,151       716,579       —       716,579       —  
Federal Home Loan Bank Advances     24,788       25,841       —       25,841       —  
Short term borrowings     21,033       21,033       —       21,033       —  
Junior subordinated debentures     14,964       14,954       —       14,954       —  
Accrued interest payable     652       652       652       —       —  
  
Schedule of changes in fair values and location in the income statement where these changes are included
 
Schedule of fair value for each category of assets carried at fair value that are measured on a recurring basis

(Dollars in thousands)

Description   December 31,
2016		     Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  
Available for sale securities                                
US Treasury Securities   $ 1,520     $ —     $ 1,520     $ —  
Government sponsored enterprises     997       —       997       —  
Mortgage-backed securities     144,298       —       144,298       —  
Small Business Administration securities     50,184       —       50,184       —  
State and local government     54,534       —       54,534       —  
Corporate and other securities     1,861       801       60       1,000  
               Total   $ 253,394     $ 801     $ 251,593     $ 1,000  
                                 

(Dollars in thousands)

Description   December 31,
2015		     Quoted
Prices in
Active
Markets for
Identical
Assets (Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  
Available for sale securities                                
US Treasury Securities   $ 1,522     $ —     $ 1,522     $ —  
Government sponsored enterprises     992       —       992       —  
Mortgage-backed securities     146,261       —       146,261       —  
Small Business Administration securities     57,328       —       57,328       —  
State and local government     57,295       —       57,295       —  
Corporate and other securities     1,289       812       60       417  
               Total   $ 264,687     $ 812     $ 263,458     $ 417  
  
Schedule reconciling the changes in Level 3 financial instruments measured on a recurring basis

The following tables reconcile the changes in Level 3 financial instruments for the year ended December 31, 2016 and 2015 measured on a recurring basis:

 

    2016  
       
(Dollars in thousands)   Corporate
Preferred
Stock		  
Beginning Balance December 31, 2015   $ 417  
Total gains or losses (realized/unrealized)        
Included in earnings     —  
         
Included in other comprehensive income     —  
         
Purchases, sales, issuances, and settlements (net)     583  
         
Transfers in and/or out of Level 3     —  
Ending Balance December 31, 2016   $ 1,000  
         
    2015  
       
(Dollars in thousands)   Corporate
Preferred
Stock		  
Beginning Balance December 31, 2014   $ 417  
Total gains or losses (realized/unrealized)        
Included in earnings     —  
         
Included in other comprehensive income     —  
         
Purchases, issuances, and settlements     —  
         
Transfers in and/or out of Level 3     —  
Ending Balance December 31, 2015   $ 417  
  
Schedule of the fair value for each category of assets carried at fair value that are measured on a non-recurring basis

The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2016 and December 31, 2015 that are measured on a non-recurring basis. There were no liabilities carried at fair value and measured on a non-recurring basis at December 31, 2016 and 2015.

 

(Dollars in thousands)                        
Description   December 31,
2016		     Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  
Impaired loans:                                
  Commercial & Industrial   $ —     $ —     $ —     $ —  
  Real estate:                                
    Mortgage-residential     637       —       —       637  
    Mortgage-commercial     5,120       —       —       5,120  
  Consumer:                                
    Home equity     56       —       —       56  
    Other     —       —       —       —  
      Total impaired     5,813       —       —       5,813  
Other real estate owned:                                
  Construction     141       —       —       141  
  Mortgage-residential     269       —       —       269  
  Mortgage-commercial     736       —       —       736  
  Total other real estate owned     1,146       —       —       1,146  
Total   $ 6,959     $ —     $ —     $ 6,959  
                                 
(Dollars in thousands)                        
Description   December 31,
2015		     Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  
Impaired loans:                                
  Commercial & Industrial   $ 9     $ —     $ —     $ 9  
  Real estate:                                
    Mortgage-residential     845       —       —       845  
    Mortgage-commercial     5,620       —       —       5,620  
  Consumer:                                
    Home equity     —       —       —       —  
    Other     —       —       —       —  
      Total impaired     6,474       —       —       6,474  
Other real estate owned:                                
  Construction     276       —       —       276  
  Mortgage-residential     191       —       —       191  
  Mortgage-commercial     1,991       —       —       1,991  
  Total other real estate owned     2,458       —       —       2,458  
Total   $ 8,932     $ —     $ —     $ 8,932  

 

  
Schedule of significant unobservable inputs used in the fair value measurements
(Dollars in thousands)   Fair Value as
of December 31,
2016		     Valuation Technique   Significant
Observable
Inputs		   Significant
Unobservable
Inputs
Corporate and Other Securities   $ 1,000     Estimation based on comparable non-listed securities   Comparable transactions   n/a
OREO   $ 1,146     Appraisal Value/Comparison Sales/Other estimates   Appraisals and or sales of comparable properties   Appraisals discounted 6% to 16% for sales commissions and other holding cost
Impaired loans   $ 5,813     Appraisal Value   Appraisals and or sales of comparable properties   Appraisals discounted 6% to 16% for sales commissions and other holding cost

 

(Dollars in thousands)   Fair Value as
of December 31,
2015		     Valuation Technique   Significant
Observable
Inputs		   Significant
Unobservable
Inputs
Corporate and Other Securities   $ 417     Estimation based on comparable non-listed securities   Comparable transactions   n/a
OREO   $ 2,458     Appraisal Value/Comparison Sales/Other estimates   Appraisals and or sales of comparable properties   Appraisals discounted 6% to 16% for sales commissions and other holding cost
Impaired loans   $ 6,474     Appraisal Value   Appraisals and or sales of comparable properties   Appraisals discounted 6% to 16% for sales commissions and other holding cost