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Fair Value Disclosures (Tables) | 3 Months Ended
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Mar. 31, 2019
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, 2019 |  | 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) |  | $ | 38,828 |  |  | $ | — |  |  | $ | 38,828 |  |  | $ | — |
Mortgage-backed securities |  | 99,582 |  |  | — |  |  | 99,582 |  |  | — |
Other debt securities |  | 935 |  |  | — |  |  | 935 |  |  | — |
Municipal securities |  | 58,928 |  |  | — |  |  | 58,928 |  |  | — |
Total securities available-for-sale |  | $ | 198,273 |  |  | $ | — |  |  | $ | 198,273 |  |  | $ | — |
Derivative financial instruments |  | $ | 2,063 |  |  | $ | — |  |  | $ | 2,063 |  |  | $ | — |
|  | Balance as of December 31, 2018 |  | 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) |  | $ | 43,503 |  |  | $ | — |  |  | $ | 43,503 |  |  | $ | — |
Mortgage-backed securities |  | 102,114 |  |  | — |  |  | 102,114 |  |  | — |
Other debt securities |  | 910 |  |  | — |  |  | 910 |  |  | — |
Municipal securities |  | 55,161 |  |  | — |  |  | 55,161 |  |  | — |
Total securities available-for-sale |  | $ | 201,688 |  |  | $ | — |  |  | $ | 201,688 |  |  | $ | — |
Derivative financial instruments |  | $ | 1,174 |  |  | — |  |  | $ | 1,174 |  |  | — |
Fair Value, Assets and Liabilities Measured on Non-Recurring Basis | 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 March 31, 2019 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Other Unobservable Inputs (Level 3)
Impaired loans |  | $ | 3,860 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,860 |
Foreclosed assets |  | 2,066 |  |  | — |  |  | — |  |  | 2,066 |
|  | Balance as of December 31, 2018 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Other Unobservable Inputs (Level 3)
Impaired loans |  | $ | 671 |  |  | $ | — |  |  | $ | — |  |  | $ | 671 |
Foreclosed assets |  | 2,495 |  |  | — |  |  | — |  |  | 2,495 |
For Level 3 assets measured at fair value on a non-recurring basis as of March 31, 2019 and December 31, 2018, the significant unobservable inputs used in the fair value measurements are presented below (in thousands).
|  | Balance as of March 31, 2019 |  | Valuation Technique |  | Significant Other Unobservable Input |  | Weighted Average of Input
Impaired loans |  | $ | 3,860 |  |  | Appraisal and Cashflow |  | Appraisal and Cashflow Discounts |  | 7 | %
Foreclosed assets |  | 2,066 |  |  | Appraisal |  | Appraisal Discounts |  | 20 | %
|  | Balance as of December 31, 2018 |  | Valuation Technique |  | Significant Other Unobservable Input |  | Weighted Average of Input
Impaired loans |  | $ | 671 |  |  | Appraisal |  | Appraisal Discounts |  | 44 | %
Foreclosed assets |  | 2,495 |  |  | Appraisal |  | Appraisal Discounts |  | 23 | %
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value of the Company’s financial instruments at March 31, 2019 and December 31, 2018 are as follows (in thousands):
|  | March 31, 2019
|  |  |  | Fair Value Measurements Using |  |
|  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Estimated Fair Value
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 132,994 |  |  | 132,994 |  |  | — |  |  | — |  |  | $ | 132,994 |
Securities available-for-sale |  | 198,273 |  |  | — |  |  | 198,273 |  |  | — |  |  | 198,273 |
Restricted investments |  | 12,398 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Loans, net |  | 1,831,865 |  |  | — |  |  | — |  |  | 1,824,680 |  |  | 1,824,680 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing demand deposits |  | 329,095 |  |  | — |  |  | 329,095 |  |  | — |  |  | 329,095 |
Interest-bearing demand deposits |  | 331,629 |  |  | — |  |  | 331,629 |  |  | — |  |  | 331,629 |
Money Market and Savings deposits |  | 698,431 |  |  | — |  |  | 698,431 |  |  | — |  |  | 698,431 |
Time deposits |  | 635,175 |  |  | — |  |  | 635,272 |  |  | — |  |  | 635,272 |
Securities sold under agreements to repurchase |  | 7,070 |  |  | — |  |  | 7,070 |  |  | — |  |  | 7,070 |
Federal Home Loan Bank advances and other borrowings |  | 8,605 |  |  | — |  |  | 8,605 |  |  | — |  |  | 8,605 |
Subordinated debt |  | 39,198 |  |  | — |  |  | — |  |  | 37,606 |  |  | 37,606 |
Derivative financial instruments |  | 2,063 |  |  | — |  |  | 2,063 |  |  | — |  |  | 2,063 |
Note 6. Fair Value Disclosures, Continued Carrying value and estimated fair value (continued):
|  | December 31, 2018
|  |  |  | Fair Value Measurements Using |  |
|  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Estimated Fair Value
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 115,822 |  |  | 115,822 |  |  | — |  |  | — |  |  | $ | 115,822 |
Securities available-for-sale |  | 201,688 |  |  | — |  |  | 201,688 |  |  | — |  |  | 201,688 |
Restricted investments |  | 11,499 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Loans, net |  | 1,768,964 |  |  | — |  |  | — |  |  | 1,766,838 |  |  | 1,766,838 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing demand deposits |  | 319,861 |  |  | — |  |  | 319,861 |  |  | — |  |  | 319,861 |
Interest-bearing demand deposits |  | 311,482 |  |  | — |  |  | 311,482 |  |  | — |  |  | 311,482 |
Money Market and Savings deposits |  | 641,945 |  |  | — |  |  | 641,945 |  |  | — |  |  | 641,945 |
Time deposits |  | 648,675 |  |  | — |  |  | 649,169 |  |  | — |  |  | 649,169 |
Securities sold under agreements to repurchase |  | 11,756 |  |  | — |  |  | 11,756 |  |  | — |  |  | 11,756 |
Federal Home Loan Bank advances and other borrowings |  | 11,243 |  |  | — |  |  | 11,243 |  |  | — |  |  | 11,243 |
Subordinated debt |  | 39,177 |  |  | — |  |  | — |  |  | 39,190 |  |  | 39,190 |
Derivative financial instruments |  | 1,174 |  |  | — |  |  | 1,174 |  |  | — |  |  | 1,174 |

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- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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