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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Measurements [Abstract]

Carrying Amount and Estimated Fair Value by Balance Sheet Grouping






March 31, 2020
							Quoted prices			Significant			Significant
							in active			other			other
	Carrying			Estimated			markets			observable inputs			unobservable inputs
(dollars in thousands)	amount			fair value			(Level 1)			(Level 2)			(Level 3)

Financial assets:
Cash and cash equivalents	$	58,960		$	58,960		$	58,960		$	-		$	-
Available-for-sale debt securities		203,984			203,984			-			203,984			-
FHLB stock		2,732			2,732			-			2,732			-
Loans and leases, net		735,107			736,923			-			-			736,923
Loans held-for-sale		1,591			1,620			-			1,620			-
Accrued interest receivable		3,239			3,239			-			3,239			-
Financial liabilities:
Deposits with no stated maturities		809,714			809,714			-			809,714			-
Time deposits		109,947			110,692			-			110,692			-
FHLB advances		15,000			15,808			-			15,808			-
Accrued interest payable		564			564			-			564			-








December 31, 2019
							Quoted prices			Significant			Significant
							in active			other			other
	Carrying			Estimated			markets			observable inputs			unobservable inputs
(dollars in thousands)	amount			fair value			(Level 1)			(Level 2)			(Level 3)

Financial assets:
Cash and cash equivalents	$	15,663		$	15,663		$	15,663		$	-		$	-
Available-for-sale debt securities		185,117			185,117			-			185,117			-
FHLB stock		4,383			4,383			-			4,383			-
Loans and leases, net		743,663			735,657			-			-			735,657
Loans held-for-sale		1,643			1,660			-			1,660			-
Accrued interest receivable		3,281			3,281			-			3,281			-
Financial liabilities:
Deposits with no stated maturities		719,526			719,526			-			719,526			-
Time deposits		116,211			115,993			-			115,993			-
Short-term borrowings		37,839			37,839			-			37,839			-
FHLB advances		15,000			15,430			-			15,430			-
Accrued interest payable		644			644			-			644			-




Financial Instruments Measured at Fair Value on Recurring Basis





				Quoted prices
				in active			Significant other			Significant other
	Total carrying value			markets			observable inputs			unobservable inputs
(dollars in thousands)	March 31, 2020			(Level 1)			(Level 2)			(Level 3)
Available-for-sale securities:
Agency - GSE	$	6,356		$	-		$	6,356		$	-
Obligations of states and political subdivisions		56,254			-			56,254			-
MBS - GSE residential		141,374			-			141,374			-
Total available-for-sale debt securities	$	203,984		$	-		$	203,984		$	-








				Quoted prices
				in active			Significant other			Significant other
	Total carrying value			markets			observable inputs			unobservable inputs
(dollars in thousands)	December 31, 2019			(Level 1)			(Level 2)			(Level 3)
Available-for-sale securities:
Agency - GSE	$	6,159		$	-		$	6,159		$	-
Obligations of states and political subdivisions		54,718			-			54,718			-
MBS - GSE residential		124,240			-			124,240			-
Total available-for-sale debt securities	$	185,117		$	-		$	185,117		$	-




Fair Value Measurements at Fair Value Segregated by Hierarchy Fair Value Levels





				Quoted prices in			Significant other			Significant other
	Total carrying value			active markets			observable inputs			unobservable inputs
(dollars in thousands)	at March 31, 2020			(Level 1)			(Level 2)			(Level 3)

Impaired loans	$	1,716		$	-		$	-		$	1,716
Other real estate owned		99			-			-			99
Other repossessed assets		17			-			-			17
Total	$	1,832		$	-		$	-		$	1,832








				Quoted prices in			Significant other			Significant other
	Total carrying value			active markets			observable inputs			unobservable inputs
(dollars in thousands)	at December 31, 2019			(Level 1)			(Level 2)			(Level 3)

Impaired loans	$	1,579		$	-		$	-		$	1,579
Other real estate owned		350			-			-			350
Other repossessed assets		20			-			-			20
Total	$	1,949		$	-		$	-		$	1,949




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)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-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
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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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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