XML 69 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Values Of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2017
Fair Values Of Financial Instruments [Abstract]  
Fair Value, Assets Measured on Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Fair Value Measurement Reporting Date using



 

 

 

 

 

 

 

 

 

 

 

 

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

1,998 

 

$

 -

 

$

1,998 

 

$

 -

States and political subdivisions

 

 

120,478 

 

 

 -

 

 

120,478 

 

 

 -

Corporate obligations

 

 

9,989 

 

 

 -

 

 

9,989 

 

 

 -

Mortgage-backed securities-government

 

 

 

 

 

 

 

 

 

 

 

 

  sponsored entities

 

 

148,656 

 

 

 -

 

 

148,656 

 

 

 -

Total available for sale

 

$

281,121 

 

$

 -

 

$

281,121 

 

$

 -



 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

1,997 

 

$

 -

 

$

1,997 

 

$

 -

States and political subdivisions

 

 

125,101 

 

 

 -

 

 

125,101 

 

 

 -

Corporate obligations

 

 

10,112 

 

 

 -

 

 

10,112 

 

 

 -

Mortgage-backed securities-government

 

 

 

 

 

 

 

 

 

 

 

 

  sponsored entities

 

 

164,930 

 

 

 -

 

 

164,930 

 

 

 -

Equity securities-financial services

 

 

424 

 

 

424 

 

 

 -

 

 

 -

Total available for sale

 

$

302,564 

 

$

424 

 

$

302,140 

 

$

 -



Fair Value, Assets and Liabilities Measured on Nonrecurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Fair Value Measurement Reporting Date using



 

 

 

 

 

 

 

 

 

 

 

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Impaired Loans

 

$

1,247 

 

$

 -

 

$

 -

 

$

1,247 

Foreclosed real estate

 

 

1,661 

 

 

 -

 

 

 -

 

 

1,661 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Impaired Loans

 

$

2,624 

 

$

 -

 

$

 -

 

$

2,624 

Foreclosed real estate

 

 

5,302 

 

 

 -

 

 

 -

 

 

5,302 



Additional Qualitative Information about Level 3 Assets







 

 

 

 

 

 

 



 

 

 

 

 

 

 



Quantitative Information about Level 3 Fair Value Measurements

(dollars in thousands)

Fair Value Estimate

 

Valuation Techniques

Unobservable Input

 

Range (Weighted Average)

December 31, 2017

 

 

 

 

 

 

 

Impaired loans

$

131 

 

Appraisal of collateral(1)

Appraisal adjustments(2)

 

10%  (10%)

Impaired loans

$

1,116 

 

Present value of future cash flows

Loan discount rate

 

4-5.25%  (5.11%)



 

 

 

 

Probability of default

 

0%



 

 

 

 

 

 

 

Foreclosed real estate owned

$

1,661 

 

Appraisal of collateral(1)

Liquidation Expenses(2)

 

0-42.60%  (14.68%)









 

 

 

 

 

 

 



 

 

 

 

 

 

 



Quantitative Information about Level 3 Fair Value Measurements

(dollars in thousands)

Fair Value Estimate

 

Valuation Techniques

Unobservable Input

 

Range (Weighted Average)

December 31, 2016

 

 

 

 

 

 

 

Impaired loans

$

1,473 

 

Appraisal of collateral(1)

Appraisal adjustments(2)

 

10%  (10%)

Impaired loans

$

1,151 

 

Present value of future cash flows

Loan discount rate

 

4-5.25%  (5.11%)



 

 

 

 

Probability of default

 

0%



 

 

 

 

 

 

 

Foreclosed real estate owned

$

5,302 

 

Appraisal of collateral(1)

Liquidation Expenses(2)

 

10%



(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance.

(2)  Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.  The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

Fair Value, by Balance Sheet Grouping



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



Fair Value Measurements at December 31, 2017



 

 

 

 

 

 

 

 

 

 

 



Carrying

 

Fair

 

 

 

 

 

 



Amount

 

Value

 

Level 1

 

Level 2

 

Level 3

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

16,697 

 

$

16,697 

 

$

16,697 

 

$

 -

 

$

 -

Securities

 

281,121 

 

 

281,121 

 

 

 -

 

 

281,121 

 

 

 -

Loans receivable, net

 

756,458 

 

 

756,092 

 

 

 -

 

 

 -

 

 

756,092 

Mortgage servicing rights

 

200 

 

 

223 

 

 

 -

 

 

 -

 

 

223 

Regulatory stock

 

3,505 

 

 

3,505 

 

 

3,505 

 

 

 -

 

 

 -

Bank owned life insurance

 

37,060 

 

 

37,060 

 

 

37,060 

 

 

 -

 

 

 -

Accrued interest receivable

 

3,716 

 

 

3,716 

 

 

3,716 

 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

929,384 

 

 

929,709 

 

 

609,090 

 

 

 -

 

 

320,619 

Short-term borrowings

 

42,530 

 

 

42,530 

 

 

42,530 

 

 

 -

 

 

 -

Other borrowings

 

35,945 

 

 

35,514 

 

 

 -

 

 

 -

 

 

35,514 

Accrued interest payable

 

1,434 

 

 

1,434 

 

 

1,434 

 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Commitments to extend credit and
outstanding letters of credit

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -









 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



Fair Value Measurements at December 31, 2016



 

 

 

 

 

 

 

 

 

 

 



Carrying

 

Fair

 

 

 

 

 

 



Amount

 

Value

 

Level 1

 

Level 2

 

Level 3

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

17,174 

 

$

17,174 

 

$

17,174 

 

$

 -

 

$

 -

Securities

 

302,564 

 

 

302,564 

 

 

424 

 

 

302,140 

 

 

 -

Loans receivable, net

 

707,426 

 

 

716,661 

 

 

 -

 

 

 -

 

 

716,661 

Mortgage servicing rights

 

232 

 

 

250 

 

 

 -

 

 

 -

 

 

250 

Regulatory stock

 

2,119 

 

 

2,119 

 

 

2,119 

 

 

 -

 

 

 -

Bank owned life insurance

 

36,133 

 

 

36,133 

 

 

36,133 

 

 

 -

 

 

 -

Accrued interest receivable

 

3,643 

 

 

3,643 

 

 

3,643 

 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

925,385 

 

 

925,561 

 

 

629,829 

 

 

 -

 

 

295,732 

Short-term borrowings

 

32,811 

 

 

32,811 

 

 

32,811 

 

 

 -

 

 

 -

Other borrowings

 

32,001 

 

 

31,863 

 

 

 -

 

 

 -

 

 

31,863 

Accrued interest payable

 

1,069 

 

 

1,069 

 

 

1,069 

 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Commitments to extend credit and
outstanding letters of credit

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -