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Fair Value Measurements and Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Summary of Assets Measured on Recurring Basis | The following tables present the balances of assets measured for fair value on a recurring basis as of September 30, 2017 and December 31, 2016.
|  |  |  |  | Fair Value Measurements Using |
(dollars in thousands) |  | September 30, 2017 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 75,254 |  |  | $ | — |  |  | $ | 75,254 |  |  | $ | — |
Collateralized mortgage obligations |  |  | 99,873 |  |  |  | — |  |  |  | 99,873 |  |  |  | — |
Municipal bonds |  |  | 18,493 |  |  |  | — |  |  |  | 18,493 |  |  |  | — |
U.S. government agency |  |  | 8,576 |  |  |  | — |  |  |  | 8,576 |  |  |  | — |
Total |  | $ | 202,196 |  |  | $ | — |  |  | $ | 202,196 |  |  | $ | — |
|  |  |  |  | Fair Value Measurements Using |
(dollars in thousands) |  | December 31, 2016 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 78,931 |  |  | $ | — |  |  | $ | 78,931 |  |  | $ | — |
Collateralized mortgage obligations |  |  | 74,330 |  |  |  | — |  |  |  | 74,330 |  |  |  | — |
Municipal bonds |  |  | 21,428 |  |  |  | — |  |  |  | 21,428 |  |  |  | — |
U.S. government agency |  |  | 9,041 |  |  |  | — |  |  |  | 9,041 |  |  |  | — |
Total |  | $ | 183,730 |  |  | $ | — |  |  | $ | 183,730 |  |  | $ | — |
Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis | The Company has segregated all financial assets that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below.
|  |  |  |  | Fair Value Measurements Using |
(dollars in thousands) |  | September 30, 2017 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Repossessed assets |  | $ | 454 |  |  | $ | — |  |  | $ | — |  |  | $ | 454 |
Impaired loans |  |  | 4,682 |  |  |  | — |  |  |  | — |  |  |  | 4,682 |
Total |  | $ | 5,136 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,136 |
|  |  |  |  | Fair Value Measurements Using |
(dollars in thousands) |  | December 31, 2016 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Repossessed assets |  | $ | 2,893 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,893 |
Impaired loans |  |  | 4,763 |  |  |  | — |  |  |  | — |  |  |  | 4,763 |
Total |  | $ | 7,656 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,656 |
Schedule of Significant Observable Inputs Used in Fair Value Measurement of Level 3 Assets | The following table shows significant observable inputs used in the fair value measurement of Level 3 assets.
(dollars in thousands) |  | Fair Value |  |  | Valuation Technique |  | Unobservable Inputs |  | Range of Discounts |  |  | Weighted Average Discount |
As of September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repossessed assets |  | $ | 454 |  |  | Third party appraisals, sales contracts, broker price opinions |  | Collateral discounts and estimated costs to sell |  |  | 6% - 100% |  |  |  | 41 | %
Impaired loans |  | $ | 4,682 |  |  | Third party appraisals and discounted cash flows |  | Collateral discounts and discount rates |  |  | 0% - 100% |  |  |  | 20 | %
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repossessed assets |  | $ | 2,893 |  |  | Third party appraisals, sales contracts, Broker price opinions |  | Collateral discounts and estimated costs to sell |  |  | 6% - 96% |  |  |  | 19 | %
Impaired loans |  | $ | 4,763 |  |  | Third party appraisals and discounted cash flows |  | Collateral discounts and discount rates |  |  | 0% - 100% |  |  |  | 15 | %
Summary of Estimated Fair Values of Company's Financial Instruments | The following table presents estimated fair values of the Company’s financial instruments as of the dates indicated.
|  |  |  |  | Fair Value Measurements at September 30, 2017 |
(dollars in thousands) |  | Carrying Amount |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 51,626 |  |  | $ | 51,626 |  |  | $ | 51,626 |  |  | $ | — |  |  | $ | — |
Interest-bearing deposits in banks |  |  | 1,191 |  |  |  | 1,191 |  |  |  | 1,191 |  |  |  | — |  |  |  | — |
Investment securities available for sale |  |  | 202,196 |  |  |  | 202,196 |  |  |  | — |  |  |  | 202,196 |  |  |  | — |
Investment securities held to maturity |  |  | 13,118 |  |  |  | 13,246 |  |  |  | — |  |  |  | 13,246 |  |  |  | — |
Mortgage loans held for sale |  |  | 5,617 |  |  |  | 5,617 |  |  |  | — |  |  |  | 5,617 |  |  |  | — |
Loans, net |  |  | 1,213,969 |  |  |  | 1,214,156 |  |  |  | — |  |  |  | 1,209,474 |  |  |  | 4,682 |
Cash surrender value of BOLI |  |  | 20,510 |  |  |  | 20,510 |  |  |  | 20,510 |  |  |  | — |  |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,319,713 |  |  | $ | 1,319,692 |  |  | $ | — |  |  | $ | 1,319,692 |  |  | $ | — |
Short-term FHLB advances |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Long-term FHLB advances |  |  | 64,804 |  |  |  | 64,498 |  |  |  | — |  |  |  | 64,498 |  |  |  | — |
|  |  |  |  | Fair Value Measurements at December 31, 2016 |
(dollars in thousands) |  | Carrying Amount |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 29,315 |  |  | $ | 29,315 |  |  | $ | 29,315 |  |  | $ | — |  |  | $ | — |
Interest-bearing deposits in banks |  |  | 1,884 |  |  |  | 1,884 |  |  |  | 1,884 |  |  |  | — |  |  |  | — |
Investment securities available for sale |  |  | 183,730 |  |  |  | 183,730 |  |  |  | — |  |  |  | 183,730 |  |  |  | — |
Investment securities held to maturity |  |  | 13,365 |  |  |  | 13,362 |  |  |  | — |  |  |  | 13,362 |  |  |  | — |
Mortgage loans held for sale |  |  | 4,156 |  |  |  | 4,156 |  |  |  | — |  |  |  | 4,156 |  |  |  | — |
Loans, net |  |  | 1,215,323 |  |  |  | 1,205,538 |  |  |  | — |  |  |  | 1,200,775 |  |  |  | 4,763 |
Cash surrender value of BOLI |  |  | 20,150 |  |  |  | 20,150 |  |  |  | 20,150 |  |  |  | — |  |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,248,072 |  |  | $ | 1,247,526 |  |  | $ | — |  |  | $ | 1,247,526 |  |  | $ | — |
Short-term FHLB advances |  |  | 40,000 |  |  |  | 40,000 |  |  |  | 40,000 |  |  |  | — |  |  |  | — |
Long-term FHLB advances |  |  | 78,533 |  |  |  | 78,039 |  |  |  | — |  |  |  | 78,039 |  |  |  | — |

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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://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 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -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 Reference 4: http://www.xbrl.org/2003/role/presentationRef -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 + 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://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=77997519&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611 + Details
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + 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 + 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://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 + Details
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