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Fair Value Accounting (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Accounting [Abstract]

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

		December 31, 2018
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Securities available for sale:
US government agencies		$	-		8,782		-		8,782
SBA securities			-		3,525		-		3,525
State and political subdivisions			-		8,356		-		8,356
Asset-backed securities			-		9,558		-		9,558
Mortgage-backed securities			-		44,684		-		44,684
Mortgage loans held for sale			-		9,241		-		9,241
Mortgage loan interest rate lock commitments			-		345		-		345
Total assets measured at fair value on a recurring basis		$	-		84,491		-		84,491
Liabilities
MBS forward sales commitments		$	-		121		-		121
Total liabilities measured at fair value on a recurring basis		$	-		121		-		121
		December 31, 2017
(dollars in thousands)		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
Mortgage loan 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

		December 31, 2018
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		2,190		8,368		10,558
Total assets measured at fair value on a nonrecurring basis		$	-		2,190		8,368		10,558
		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 unobservable inputs used in the fair value measurements

		Valuation Technique		Significant Unobservable Inputs		Range of Inputs
Impaired loans		Appraised Value/ Discounted Cash Flows		Discounts to appraisals or cash flows for estimated holding and/or selling costs or age of appraisal		0-25%
Other real estate owned		Appraised Value/ Comparable Sales		Discounts to appraisals for estimated holding or selling costs

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

									December 31, 2018
(dollars in thousands)			Carrying		Fair		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	4,121		4,121		-		-		4,121
Loans1			1,648,998		1,618,618		-		-		1,618,618
Financial Liabilities:
Deposits			1,648,136		1,515,123		-		1,515,123		-
FHLB and other borrowings			50,000		50,147		-		50,147		-
Junior subordinated debentures			13,403		14,807		-		14,807		-
									December 31, 2017
(dollars in thousands)			Carrying		Fair		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	4,462		4,462		-		-		4,462
Loans1			1,371,547		1,372,684		-		2,685		1,369,999
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 December 31, 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 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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-Publisher FASB
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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

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-Topic 820
-SubTopic 10
-Section 50
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