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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Estimated Fair Values and Related Carrying or Notional Amounts

The estimated fair values, and related carrying or notional amounts, for on and off-balance sheet financial instruments as of December 31, 2017 and 2016, are reflected below. 

		(In Thousands)
		December 2017																				December 2016
		Carrying				Fair																Carrying				Fair
		Amount				Value				Level 1				Level 2				Level 3				Amount				Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and Cash Equivalents		$	34,467			$	34,467			$	34,467			$	—			$	—			$	28,322			$	28,322			$	28,322			$	—			$	—
Interest-bearing time deposits			4,018				4,009				—				4,009				—				1,915				1,918				—				1,918				—
Securities—available for sale			196,398				196,398				20,978				173,992				1,428				218,527				218,527				24,775				192,334				1,418
Other Securities			3,717				3,717				—				—				3,717				3,717				3,717				—				—				3,717
Loans held for sale			1,221				1,221				—				—				1,221				2,055				2,055				—				—				2,055
Loans, net			816,156				819,193				—				—				819,193				751,310				753,357				—				—				753,357
Interest receivable			4,276				4,276				—				—				4,276				3,880				3,880				—				—				3,880
Financial Liabilities:
Interest bearing Deposits		$	532,660			$	532,660			$	—			$	—			$	532,660			$	456,983			$	456,983			$	—			$	—			$	456,983
Non-interest bearing Deposits			199,114				199,114				—				199,114				—				186,390				186,390				—				186,390				—
Time Deposits			187,566				188,335				—				—				188,335				198,830				199,658				—				—				199,658
Total Deposits			919,340				920,109				—				199,114				720,995				842,203				843,031				—				186,390				656,641
Federal Funds purchased and Securities sold under agreement to repurchase			39,495				39,495				—				—				39,495				70,324				70,324				—				—				70,324
Federal Home Loan Bank advances			5,000				5,021				—				—				5,021				10,000				10,041				—				—				10,041
Interest payable			318				318				—				—				318				256				256				—				—				256
Dividends payable			1,193				1,193				—				1,193				—				1,053				1,053				—				1,053				—

Financial Assets Measured at Fair Value on Recurring Basis

The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2017 and December 31, 2016 segregated by level or the valuation inputs within the fair value hierarchy utilized to measure fair value.

Assets and Liabilities Measured at Fair Value on a Recurring Basis (In Thousands)
		Quoted Prices in Active Markets for Identical				Significant Observable Inputs				Significant Observable Inputs
December 31, 2017		Assets (Level 1)				(Level 2)				(Level 3)
Assets-(Securities Available for Sale)
U.S. Treasury		$	20,978			$	—			$	—
U.S. Government agencies			—				80,466				—
Mortgage-backed securities-			—				39,510				—
State and local governments			—				54,016				1,428
Total Securities Available for Sale		$	20,978			$	173,992			$	1,428
December 31, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Observable Inputs (Level 3)
Assets-(Securities Available for Sale)
U.S. Treasury		$	24,775			$	—			$	—
U.S. Government agencies			—				82,474				—
Mortgage-backed securities-			—				48,461				—
State and local governments			—				61,399				1,418
Total Securities Available for Sale		$	24,775			$	192,334			$	1,418

Changes in the Level 3 Fair-Value Category of Which Unobservable Inputs

		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments Tax-Exempt				State and Local Governments Taxable				State and Local Governments Total
Balance at January 1, 2017		$	—			$	1,418			$	1,418
Change in Market Value			—				10				10
Purchases			—				—				—
Sales			—				—				—
Payments & Maturities			—				—				—
Balance at December 31, 2017		$	—			$	1,428			$	1,428

		(In Thousands)
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments Tax-Exempt				State and Local Governments Taxable				State and Local Governments Total
Balance at January 1, 2016		$	5,904			$	1,448			$	7,352
Change in Market Value			(264	)			(30	)			(294	)
Purchases			—				—				—
Sales			—				—				—
Payments & Maturities			(5,640	)			—				(5,640	)
Balance at December 31, 2016		$	—			$	1,418			$	1,418

Collateral Dependent Impaired Loans and Other Real Estate

The following table presents collateral dependent impaired loans and other real estate owned as recorded at fair value:

		Balance at				Identical				Observable Inputs				Unobservable Inputs
		December 31, 2017				Assets (Level 1)				(Level 2)				(Level 3)
Collateral dependent impaired loans		$	508			$	—			$	—			$	508
Other real estate owned—residential			22				—				—				22
Other real estate owned—commercial			266				—				—				266
		Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2016
($ in Thousands)		Balance at December 31, 2016				Quoted Prices in Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent impaired loans		$	576			$	—			$	—			$	576
Other real estate owned—residential			144				—				—				144
Other real estate owned—commercial—			—				—				—				—

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements:

		Fair Value at December 31, 2017				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
State and local government		$	1,428			Discounted Cash Flow		Credit strength of underlying project or entity / Discount rate		0-5%(3.68%)
Collateral dependent impaired loans			508			Collateral based measurements		Discount to reflect current market conditions and ultimate collectability		0-50%(17.28%)
Other real estate owned - residential			22			Appraisals		Discount to reflect current market		0-20%(2.22%)
Other real estate owned - commercial			266			Appraisals		Discount to reflect current market		0-20%(5.15%)
		Fair Value at December 31, 2016				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
State and local government		$	1,418			Discounted Cash Flow		Credit strength of underlying project or entity / Discount rate		0-5%(3.92%)
Collateral dependent impaired loans			576			Collateral based measurements		Discount to reflect current market conditions and ultimate collectability		0-50%(18.92%)
Other real estate owned - residential			144			Appraisals		Discount to reflect current market		0-20%(.51%)
Other real estate owned - commercial			—			Appraisals		Discount to reflect current market		0-20%

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-Publisher FASB
-Name Accounting Standards Codification
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