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Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

Assets recorded at fair value on a recurring basis are as follows, in thousands

		Balance as of December 31, 2017				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	25,776			$	—			$	25,776			$	—
Municipal securities		9,003				—				9,003				—
Other debt securities		950				—				950				—
Mortgage-backed securities		116,215				—				116,215				—
Total securities available-for-sale		$	151,944			$	—			$	151,944			$	—

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

Fair Value Assets Measured On Non Recurring Basis Unobservable Input Reconciliation

The following tables present the financial instruments carried on the consolidated balance sheets by caption and by level in the fair value hierarchy, for which a nonrecurring change in fair value has been recorded (in thousands):

		Balance as of December 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		$	769			$	—			$	—			$	769
Foreclosed assets		3,254				—				—				3,254

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

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

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

		Balance as of December 31, 2017 (in thousands)				Valuation Technique		Significant Other Unobservable Input		Weighted Average of Input
Impaired loans		$	769			Third Party Appraisal		Appraisal Discounts		35.5	%
Foreclosed assets		3,254				Third Party Appraisal		Appraisal Discounts		17.8	%

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

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

		December 31, 2017								December 31, 2016
		Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents		$	113,027			$	113,027			$	68,748			$	68,748
Securities available for sale		151,944				151,944				129,422				129,422
Restricted investments		6,431				N/A				5,628				N/A
Loans, net		1,317,398				1,292,303				808,271				803,057
Liabilities:
Noninterest-bearing demand deposits		220,520				220,520				153,483				153,483
Interest-bearing demand deposits		231,644				231,644				162,702				162,702
Savings deposits		543,645				543,645				274,605				274,605
Time deposits		442,774				443,547				316,275				316,734
Securities sold under agreements to repurchase		24,055				24,055				26,622				26,622
Federal Home Loan Bank advances and other borrowings		43,600				43,600				18,505				18,505

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- 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).

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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.

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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).

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-Name Accounting Standards Codification
-Topic 820
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