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Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities recorded at fair value on a recurring basis are as follows (in thousands): 

		Balance as of March 31, 2017				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Debt securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	17,798			$	—			$	17,798			$	—
Mortgage-backed securities		110,051				—				110,051				—
Other debt securities		946								946
Municipal securities		8,338				—				8,338				—
Total securities available-for-sale		$	137,133			$	—			$	137,133			$	—

		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)
Debt securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	17,723			$	—			$	17,723			$	—
Mortgage-backed securities:		103,680				—				103,680				—
Municipal securities		8,019				—				8,019				—
Total securities available-for-sale		$	129,422			$	—			$	129,422			$	—

Fair Value, Assets and Liabilities Measured on Non-Recurring Basis

		Balance as of March 31, 2017				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Impaired loans		$	717			$	—			$	—			$	717
Foreclosed assets		2,371				—				—				2,371

Note 7. Fair Value Disclosures, Continued

Assets Measured at Fair Value on a Nonrecurring Basis (continued):

		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)
Impaired loans		$	239			$	—			$	—			$	239
Foreclosed assets		2,386				—				—				2,386

Fair Value, Assets Measured On Non-Recurring Basis, Unobservable Input Reconciliation

For Level 3 assets measured at fair value on a non-recurring basis as of March 31, 2017 and December 31, 2016 a, the significant unobservable inputs used in the fair value measurements are presented below (in thousands).

		Balance as of March 31, 2017				Valuation Technique		Significant Other Unobservable Input		Weighted Average of Input
Impaired loans		$	717			Appraisal		Discounted Cash Flow / Appraisal Discounts		9.1	%
Foreclosed assets		2,371				Appraisal		Appraisal Discounts		22.5	%

		Balance as of December 31, 2016 (in thousands)				Valuation Technique		Significant Other Unobservable Input		Weighted Average of Input
Impaired loans		$	239			Cash Flow		Discounted Cash Flow / Appraisal Discounts		2.4	%
Foreclosed assets		2,386				Appraisal		Appraisal Discounts		12.2	%

Fair Value, by Balance Sheet Grouping

The carrying amount and estimated fair value of the Company’s financial instruments at March 31, 2017 and December 31, 2016 are as follows (in thousands):

		March 31, 2017								December 31, 2016
		Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents		$	55,548			$	55,548			$	68,748			$	68,748
Securities available for sale		137,133				137,133				129,422				129,422
Restricted investments		5,628				N/A				5,628				N/A
Loans, net		802,387				795,077				808,271				803,057
Liabilities:
Noninterest-bearing demand deposits		160,673				160,673				153,483				153,483
Interest-bearing demand deposits		167,433				167,433				162,702				162,702
Money Market and Savings deposits		274,993				274,993				274,605				274,605
Time deposits		286,600				286,414				316,275				316,734
Securities sold under agreements to repurchase		23,153				23,153				26,622				26,622
Federal Home Loan Bank advances and other borrowings		60				60				18,505				18,505

X

- Definition

Tabular disclosure of the fair value measurement of assets on non-recurring basis using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: 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=49121117&loc=d3e13476-108611

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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