Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value of Financial Instruments [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

			Fair Value Measurements at June 30, 2012 Using
			Quoted Prices in		Significant Other		Significant
			Active Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
($ in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Investment securities	$	86,665	$	-	$	83,628	$	3,037
Derivative asset positions		326		-		326		-
Derivative liability positions		326		-		326		-

	Carrying		Fair Value Measurements at December 31, 2011 Using
($ in thousands)	Value		Level 1		Level 2		Level 3
Investment securities	$	83,653	$	-	$	80,115	$	3,538
Derivative asset positions		301		-		301		-
Derivative liability positions		301		-		301		-

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

Assets and liabilities with an impairment charge during the current period and measured at fair value on a nonrecurring basis are summarized below:

			Carrying Values at June 30, 2012
($ in thousands)	Total		Level 1		Level 2		Level 3		Total loss
Impaired loans	$	7,497	$	-	$	-	$	7,497	$	(2,973	)
OREO		4,553		-		-		4,553		(1,084	)

			Carrying Values at December 31, 2011
($ in thousands)	Total		Level 1		Level 2		Level 3		Total loss
Impaired loans	$	11,541	$	-	$	-	$	11,541	$	(6,091	)
OREO		7,323		-		-		7,323		(1,880	)

Schedule of carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of the Company's financial instruments are as follows:

	June 30, 2012
($ in thousands)					Fair Value Measurement
			Estimated
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
Financial assets:
Cash and federal funds sold	$	14,778	$	14,778	$	14,778	$	-	$	-
Interest-bearing deposits		84,063		84,063		84,063		-		-
Securities available for sale		86,665		86,665		-		83,628		3,037
Loans, net of allowance for loan losses		702,569		688,089		-		-		688,089
Accrued interest receivable		2,718		2,718		2,718		-		-
Derivative asset positions		326		326		-		326		-

Financial liabilities:
Deposits		817,966		822,344		-		542,017		280,327
Short-term borrowings		15,405		15,405		-		15,405		-
Other borrowings		7,847		7,847		-		7,847		-
FHLB advances		13,150		13,880		-		13,880		-
Subordinated debt to nonconsolidated
subsidiaries		10,310		10,310		-		10,310		-
Accrued interest payable		510		510		510		-		-
Derivative liability positions		326		326		-		326		-

	December 31, 2011
($ in thousands)			Estimated
	Carrying		Fair
	Value		Value
Financial assets:
Cash and federal funds sold	$	13,760	$	13,760
Interest-bearing deposits		81,717		81,717
Securities available for sale		83,653		83,653
Loans, net of allowance for loan losses		737,761		727,714
Accrued interest receivable		3,103		3,103
Derivative asset positions		301		301

Financial liabilities:
Deposits		846,929		851,700
Short-term borrowings		14,384		14,384
Other borrowings		8,581		8,581
FHLB advances		16,653		17,393
Subordinated debt to nonconsolidated subsidiaries		10,310		10,310
Accrued interest payable		687		687
Derivative liability positions		301		301

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

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SAVANNAH BANCORP INC 10-Q/A