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Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

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

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): 

Description		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
June 30, 2019:
Assets:
Securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	23,988			$	—			$	23,988			$	—
Municipal securities		56,726				—				56,726				—
Other debt securities		937				—				937				—
Mortgage-backed securities (GSEs)		92,463				—				92,463				—
Total securities available-for-sale		$	174,114			$	—			$	174,114			$	—
Liabilities:
Derivative financial instruments		$	3,411			$	—			$	3,411			$	—

December 31, 2018:
Assets:
Securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	43,503			$	—			$	43,503			$	—
Municipal securities		55,161				—				55,161				—
Other debt securities		910				—				910				—
Mortgage-backed securities (GSEs)		102,114				—				102,114				—
Total securities available-for-sale		$	201,688			$	—			$	201,688			$	—
Liabilities:
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):

		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
June 30, 2019:
Impaired loans		$	3,870			$	—			$	—			$	3,870
Other real estate owned		1,814				—				—				1,814
December 31, 2018:
Impaired loans		$	671			$	—			$	—			$	671
Other real estate owned		2,495				—				—				2,495

Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (in thousands).

		Fair Value				Valuation Technique		Significant Other Unobservable Input		Weighted Average of Input
June 30, 2019:
Impaired loans		$	3,870			Appraisal and cashflow		Appraisal and cashflow discounts		9	%
Other real estate owned		1,814				Appraisal		Appraisal discounts		12	%
December 31, 2018:
Impaired loans		$	671			Appraisal		Appraisal Discounts		44	%
Other real estate owned		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 are as follows (in thousands):

						Fair Value Measurements Using
		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
June 30, 2019:
Assets:
Cash and cash equivalents		$	199,534			$	199,534			$	—			$	—			$	199,534
Securities available-for-sale		174,114				—				174,114				—				174,114
Other investments		12,905				N/A				N/A				N/A				N/A
Loans, net		1,827,892				—				—				1,822,099				1,822,099
Liabilities:
Noninterest-bearing demand deposits		357,220				—				357,220				—				357,220
Interest-bearing demand deposits		333,705				—				333,705				—				333,705
Money market and savings deposits		648,132				—				648,132				—				648,132
Time deposits		673,243				—				674,278				—				674,278
Securities sold under agreements to repurchase		8,219				—				8,219				—				8,219
Federal Home Loan Bank advances and other borrowings		15,460				—				15,460				—				15,460
Subordinated debt		39,219				—				—				37,618				37,618
Derivative financial instruments		3,411				—				3,411				—				3,411

December 31, 2018:
Assets:
Cash and cash equivalents		$	115,822			$	115,822			$	—			$	—			$	115,822
Securities available-for-sale		201,688				—				201,688				—				201,688
Other 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		648,676				—				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

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ 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 (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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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://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=117815213&loc=d3e19207-110258

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-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Subparagraph (a)
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

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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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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