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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Measurements [Abstract]

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





The tables below present the recorded amount of assets measured at fair value on a recurring basis at June 30, 2018 and December 31, 2017. No assets were transferred from one hierarchy level to another during the first six months of 2018 or 2017.




								Significant
								Other			Significant
					Quoted			Observable			Unobservable
					Prices			Inputs			Inputs
(Dollars in thousands)		Fair Value			(Level 1)			(Level 2)			(Level 3)
June 30, 2018
Securities available for sale:
U.S. Government agencies		$	41,727		$	-		$	41,727		$	-
Mortgage-backed			133,839			-			133,839			-
			175,566			-			175,566			-
Equity			652			-			652			-
Total		$	176,218		$	-		$	176,218		$	-

								Significant
								Other			Significant
					Quoted			Observable			Unobservable
					Prices			Inputs			Inputs
(Dollars in thousands)		Fair Value			(Level 1)			(Level 2)			(Level 3)
December 31, 2017
Securities available for sale:
U.S. Government agencies		$	45,332		$	-		$	45,332		$	-
Mortgage-backed			150,965			-			150,965			-
Equity			658			-			658			-
Total		$	196,955		$	-		$	196,955		$	-



Fair Value of Assets Measured on Nonrecurring Basis

The tables below present the recorded amount of assets measured at fair value on a nonrecurring basis at June 30, 2018 and December 31, 2017.  




		Quantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)		Fair Value			Valuation Technique			Unobservable Input			Range
 June 30, 2018
Nonrecurring measurements:

Impaired loans		$	2,703			Appraisal of collateral	1		Liquidation expense	2		10%

Impaired loans		$	5,951			Discounted cash flow analysis	1		Discount rate			4% - 8.5%

Other real estate owned		$	1,569			Appraisal of collateral	1		Appraisal adjustments	2		20% - 30%
									Liquidation expense	2		5% - 10%






		Quantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)		Fair Value			Valuation Technique			Unobservable Input			Range
 December 31, 2017
Nonrecurring measurements:

Impaired loans		$	510			Appraisal of collateral	1		Liquidation expense	2		10%

Impaired loans		$	6,005			Discounted cash flow analysis	1		Discount rate			4% - 8.5%

Other real estate owned		$	1,794			Appraisal of collateral	1		Appraisal adjustments	2		20% - 30%
									Liquidation expense	2		5% - 10%



Schedule of Estimated Fair Values of Financial Assets and Liabilities

The following table provides information on the estimated fair values of the Company’s financial assets and liabilities that are reported in the balance sheets not recorded at fair value on a recurring basis as of June 30, 2018 and December 31, 2017. The financial assets and liabilities have been segregated by their classification level in the fair value hierarchy.






















		June 30, 2018						December 31, 2017
					Estimated						Estimated
		Carrying			Fair			Carrying			Fair
(Dollars in thousands)		Amount			Value			Amount			Value
Financial assets
Level 1 inputs
Cash and cash equivalents		$	43,479		$	43,479		$	31,820		$	31,820

Level 2 inputs
Investment securities held to maturity		$	6,168		$	6,162		$	6,247		$	6,391
Restricted securities			7,578			7,578			3,735			3,735
Bank owned life insurance			3,666			3,666			3,637			3,637

Level 3 inputs
Loans, net (1)		$	1,146,763		$	1,119,390		$	1,083,733		$	1,072,951

Financial liabilities
Level 2 inputs
Deposits:
Noninterest-bearing demand		$	326,634		$	326,634		$	328,322		$	328,322
Checking plus interest			203,108			203,108			231,898			231,898
Money market			218,900			218,900			223,123			223,123
Savings			156,395			156,395			156,623			156,623
Club			1,187			1,187			398			398
Brokered Deposits			27,381			27,377			-			-
Certificates of deposit, $100,000 or more			96,832			94,838			107,343			105,691
Other time			144,662			139,859			155,074			151,339
Short-term borrowings			102,741			102,741			21,734			21,734

(1) Carrrying amount is net of unearned income and the allowance for credit losses. In accordance with the prospective adoption
   of ASU No. 2016-01, the fair value of loans as of June 30, 2018 was measured using an exit price notion. The fair value of
   loans as of December 31, 2017 was measured using an entry price notion.



X

- Definition

Tabular disclosure of estimated fair values of the company's financial assets and liabilities reported at their carrying amounts.

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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 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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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=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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