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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Schedule of Hierarchy and Fair Value for Each Major Category of Assets and Liabilities Measured at Fair Value

The following table provides the hierarchy and fair value for each major category of assets and liabilities measured at fair value at September 30, 2017 and December 31, 2016:

(dollars in thousands)		Fair Value Measurements Using:
September 30, 2017		Level 1				Level 2				Level 3				Total
Assets measured at fair value:
On a recurring basis:
Securities available for sale
Government agency securities						$	4,957							$	4,957
Mortgage-backed securities															-
Government sponsored agencies							33,256								33,256
Corporate debt securities							17,484								17,484
		$	—			$	55,697			$	—			$	55,697
On a non-recurring basis:
Other real estate owned		$	—			$	—			$	293			$	293
December 31, 2016
Assets measured at fair value:
On a recurring basis:
Securities available for sale
Government agency securities						$	5,317								5,317
Mortgage-backed securities
Government sponsored agencies							23,640								23,640
Corporate debt securities							10,320								10,320
		$	—			$	39,277			$	—			$	39,277
On a non-recurring basis:
Other real estate owned		$	—			$	—			$	833			$	833

Summary of Quantitative Information About Non-recurring Level 3 Fair Value Measurements

Quantitative information about the Company's non-recurring Level 3 fair value measurements at September 30, 2017 and December 31, 2016 is as follows:

Weighted-

(dollars in thousands)

Fair Value

Valuation

Unobservable

Adjustment

Average

September 30, 2017

Amount

Technique

Input

Range

Adjustment

Other real estate owned

$

293

Third Party

Management Adjustments

15%

15%

Appraisals

to Reflect Current

Conditions and Selling

Costs

December 31, 2016

Other real estate owned

$

833

Third Party

Management Adjustments

10% - 15%

12%

Appraisals

to Reflect Current

Conditions and Selling

Costs

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-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 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-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 (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258

Reference 6: 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

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- References

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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

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