| Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of dates indicated: | | | | | | | | | | | | | | | | | | | | Fair Value Measurement Level | | | ($ in thousands) | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Total | December 31, 2018 | | | | | | | | | Securities available-for-sale: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | Mortgage-backed securities | | $ | — |
| | $ | 67,921 |
| | $ | — |
| | $ | 67,921 |
| Collateralized mortgage obligations | | — |
| | 55,649 |
| | — |
| | 55,649 |
| SBA loan pool securities | | — |
| | 22,632 |
| | — |
| | 22,632 |
| Municipal bonds | | — |
| | 789 |
| | — |
| | 789 |
| Total securities available-for-sale | | — |
| | 146,991 |
| | — |
| | 146,991 |
| Total assets measured at fair value on a recurring basis | | $ | — |
| | $ | 146,991 |
| | $ | — |
| | $ | 146,991 |
| Total liabilities measured at fair value on a recurring basis | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| December 31, 2017 | | | | | | | | | Securities available-for-sale: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | Mortgage-backed securities | | $ | — |
| | $ | 51,904 |
| | $ | — |
| | $ | 51,904 |
| Collateralized mortgage obligations | | — |
| | 50,485 |
| | — |
| | 50,485 |
| SBA loan pool securities | | — |
| | 24,925 |
| | — |
| | 24,925 |
| Municipal bonds | | — |
| | 2,375 |
| | — |
| | 2,375 |
| Total securities available-for-sale | | — |
| | 129,689 |
| | — |
| | 129,689 |
| Total assets measured at fair value on a recurring basis | | $ | — |
| | $ | 129,689 |
| | $ | — |
| | $ | 129,689 |
| Total liabilities measured at fair value on a recurring basis | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | | | | | | | | |
|
| Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis |
The following table presents the Company’s assets and liabilities measured at fair value on a non-recurring basis as of dates indicated: | | | | | | | | | | | | | | | | | | | | Fair Value Measurement Level | | | ($ in thousands) | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Total | December 31, 2018 | | | | | | | | | Impaired loans: | | | | | | | | | SBA property | | $ | — |
| | $ | — |
| | $ | 51 |
| | $ | 51 |
| Total impaired loans | | — |
| | — |
| | 51 |
| | 51 |
| Total assets measured at fair value on a non-recurring basis | | $ | — |
| | $ | — |
| | $ | 51 |
| | $ | 51 |
| Total liabilities measured at fair value on a non-recurring basis | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| December 31, 2017 | | | | | | | | | Total assets measured at fair value on a non-recurring basis | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Total liabilities measured at fair value on a non-recurring basis | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | | | | | | | | |
For assets measured at fair value, the following table presents the total net losses, which include charge-offs, recoveries, specific reserves, impairment on servicing assets, gain (loss) on sale of OREO, and OREO valuation write-downs recorded for the periods indicated: | | | | | | | | | | | | | | | | Year Ended December 31, | ($ in thousands) | | 2018 | | 2017 | | 2016 | Collateral dependent impaired loans: | | | | | | | Commercial property | | $ | (53 | ) | | $ | (49 | ) | | $ | — |
| SBA property | | (238 | ) | | (440 | ) | | (176 | ) | Other real estate owned | | 3 |
| | (20 | ) | | — |
| Net losses recognized | | $ | (288 | ) | | $ | (509 | ) | | $ | (176 | ) | | | | | | | |
|
| Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities |
The following table presents the carrying value and estimated fair values of financial assets and liabilities as of the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | Carrying Value | | Fair Value | | Fair Value Measurements | ($ in thousands) | | | | Level 1 | | Level 2 | | Level 3 | December 31, 2018 | | | | | | | | | | | Financial assets: | | | | | | | | | | | Interest-bearing deposits in other financial institutions | | $ | 138,152 |
| | $ | 138,152 |
| | $ | 138,152 |
| | $ | — |
| | $ | — |
| Securities available-for-sale | | 146,991 |
| | 146,991 |
| | — |
| | 146,991 |
| | — |
| Securities held-to-maturity | | 21,760 |
| | 21,152 |
| | — |
| | 21,152 |
| | — |
| Loans held-for-sale | | 5,781 |
| | — |
| | — |
| | 6,175 |
| | — |
| Net loans held-for-investment | | 1,325,515 |
| | 1,337,299 |
| | — |
| | — |
| | 1,337,299 |
| FHLB and other restricted stock | | 7,433 |
| | N/A |
| | N/A |
| | N/A |
| | N/A |
| Accrued interest receivable | | 5,178 |
| | 5,178 |
| | 112 |
| | 568 |
| | 4,498 |
| Financial liabilities: | | | | | | | | | | | Deposits | | $ | 1,443,753 |
| | $ | 1,425,023 |
| | $ | — |
| | $ | — |
| | $ | 1,425,023 |
| FHLB advances | | 30,000 |
| | 29,641 |
| | — |
| | 29,641 |
| | — |
| Accrued interest payable | | 6,223 |
| | 6,223 |
| | — |
| | 1 |
| | 6,222 |
| December 31, 2017 | | | | | | | | | | | Financial assets: | | | | | | | | | | | Interest-bearing deposits in other financial institutions | | $ | 56,996 |
| | $ | 56,996 |
| | $ | 56,996 |
| | $ | — |
| | $ | — |
| Securities available-for-sale | | 129,689 |
| | 129,689 |
| | — |
| | 129,689 |
| | — |
| Securities held-to-maturity | | 21,070 |
| | 20,997 |
| | — |
| | 20,997 |
| | — |
| Loans held-for-sale | | 5,297 |
| | 5,813 |
| | — |
| | 5,813 |
| | — |
| Net loans held-for-investment | | 1,177,775 |
| | 1,177,539 |
| | — |
| | — |
| | 1,177,539 |
| FHLB and other restricted stock | | 6,589 |
| | N/A |
| | N/A |
| | N/A |
| | N/A |
| Accrued interest receivable | | 4,251 |
| | 4,251 |
| | 25 |
| | 533 |
| | 3,693 |
| Financial liabilities: | | | | | | | | | | | Deposits | | $ | 1,251,290 |
| | $ | 1,250,259 |
| | $ | — |
| | $ | — |
| | $ | 1,250,259 |
| FHLB advances | | 40,000 |
| | 39,778 |
| | — |
| | 39,778 |
| | — |
| Accrued interest payable | | 2,251 |
| | 2,251 |
| | — |
| | 60 |
| | 2,191 |
| | | | | | | | | | | |
|