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Fair Value Accounting (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Accounting [Abstract]

Schedule of assets and liabilities measured at fair value on recurring basis

		June 30, 2018
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Securities available for sale
US government agencies		$	-		8,714		-		8,714
SBA securities			-		3,769		-		3,769
State and political subdivisions			-		8,472		-		8,472
Asset-backed securities			-		6,691		-		6,691
Mortgage-backed securities			-		42,421		-		42,421
Mortgage loans held for sale			-		8,075		-		8,075
Interest rate lock commitments			-		320		-		320
Total assets measured at fair value on a recurring basis		$	-		78,462		-		78,462
Liabilities
MBS forward sales commitments		$	-		60		-		60
Total liabilities measured at fair value on a recurring basis		$	-		60		-		60
		December 31, 2017
			Level 1		Level 2		Level 3		Total
Assets
Securities available for sale:
US government agencies		$	-		8,653		-		8,653
SBA securities			-		4,063		-		4,063
State and political subdivisions			-		11,396		-		11,396
Mortgage-backed securities			-		43,491		-		43,491
Mortgage loans held for sale			-		11,790		-		11,790
Interest rate lock commitments			-		196		-		196
Total assets measured at fair value on a recurring basis		$	-		79,589		-		79,589
Liabilities
MBS forward sales commitments		$	-		28		-		28
Total liabilities measured at fair value on a recurring basis		$	-		28		-		28

Schedule of assets and liabilities measured at fair value on nonrecurring basis

		As of June 30, 2018
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		2,920		8,728		11,648
Other real estate owned			-		23		94		117
Total assets measured at fair value on a nonrecurring basis		$	-		2,943		8,822		11,765
		As of December 31, 2017
		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		2,685		6,084		8,769
Other real estate owned			-		148		94		242
Total assets measured at fair value on a nonrecurring basis		$	-		2,833		6,178		9,011

Schedule of estimated fair values of the Company's financial instruments

		June 30, 2018
		Carrying			Fair
(dollars in thousands)		Amount			Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	3,059		3,059		-		-		3,059
Loans1			1,502,229		1,483,215		-		-		1,483,215
Financial Liabilities:
Deposits			1,567,982		1,430,788		-		1,430,788		-
FHLB and other borrowings			28,600		28,792		-		28,792		-
Junior subordinated debentures			13,403		14,148		-		14,148		-
		December 31, 2017
		Carrying			Fair
		Amount			Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	4,462		4,462		-		-		4,462
Loans1			1,359,101		1,363,915		-		-		1,363,915
Financial Liabilities:
Deposits			1,381,123		1,269,462		-		1,269,462		-
FHLB and other borrowings			67,200		67,890		-		67,890		-
Junior subordinated debentures			13,403		13,166		-		13,166		-

¹ Carrying amount is net of the allowance for loan losses and previously presented impaired loans. 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 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

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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=99377789&loc=d3e19207-110258

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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

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-Publisher FASB
-Name Accounting Standards Codification
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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