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Fair Value Accounting (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets And Liabilities Measured at Fair Value on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019.

		March 31, 2020
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Securities available for sale
US government agencies		$	-		499		-		499
SBA securities			-		501		-		501
State and political subdivisions			-		9,679		-		9,679
Asset-backed securities			-		12,286		-		12,286
Mortgage-backed securities			-		47,542		-		47,542
Mortgage loans held for sale			-		34,948		-		34,948
Mortgage loan interest rate lock commitments			-		1,649		-		1,649
Total assets measured at fair value on a recurring basis		$	-		107,104		-		107,104
Liabilities
MBS forward sales commitments		$	-		1,087		-		1,087
Total liabilities measured at fair value on a recurring basis		$	-		1,087		-		1,087
		December 31, 2019
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Securities available for sale:
US government agencies		$	-		499		-		499
SBA securities			-		531		-		531
State and political subdivisions			-		4,184		-		4,184
Asset-backed securities			-		13,167		-		13,167
Mortgage-backed securities			-		49,313		-		49,313
Mortgage loans held for sale			-		27,046		-		27,046
Mortgage loan interest rate lock commitments			-		344		-		344
Total assets measured at fair value on a recurring basis		$	-		95,084		-		95,084
Liabilities
MBS forward sales commitments		$	-		39		-		39
Total liabilities measured at fair value on a recurring basis		$	-		39		-		39

Schedule of Assets And Liabilities Measured at Fair Value on Nonrecurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis as of March 31, 2020 and December 31, 2019.

		As of March 31, 2020
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		10,552		5,492		16,044
Total assets measured at fair value on a nonrecurring basis		$	-		10,552		5,492		16,044
		As of December 31, 2019
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		5,634		4,941		10,575
Total assets measured at fair value on a nonrecurring basis		$	-		5,634		4,941		10,575

Schedule of Estimated Fair Values of the Company's Financial Instruments

The estimated fair values of the Company’s financial instruments at March 31, 2020 and December 31, 2019 are as follows:

		March 31, 2020
		Carrying			Fair
(dollars in thousands)		Amount			Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	5,341		5,341		-		-		5,341
Loans1			1,989,927		1,942,206		-		-		1,942,206
Financial Liabilities:
Deposits			2,025,698		1,947,258		-		1,947,258		-
FHLB and other borrowings			65,000		65,021		-		65,021		-
Subordinated debentures			35,917		31,989		-		31,989		-
		December 31, 2019
			Carrying		Fair
(dollars in thousands)			Amount		Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	6,948		6,948		-		-		6,948
Loans1			1,914,870		1,900,216		-		-		1,900,216
Financial Liabilities:
Deposits			1,876,124		1,772,121		-		1,772,121		-
FHLB and other borrowings			110,000		109,737		-		109,737		-
Subordinated debentures			35,890		33,250		-		33,250		-

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

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

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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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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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/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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