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v3.19.1

Fair Value of Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2019
Fair Value of Assets and Liabilities [Abstract] |
Fair Value, Assets Measured on Recurring Basis | ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Fair Value Measurement Using
﻿ |  | Reporting Date
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
﻿ |  | (In thousands)
﻿ |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |
﻿States and political subdivisions |  | $ | 98,193 |  | $ | - |  | $ | 98,193 |  | $ | -
﻿Corporate obligations |  |  | 8,747 |  |  | - |  |  | 8,747 |  |  | -
﻿Mortgage-backed securities-government |  |  |  |  |  |  |  |  |  |  |  |
﻿ sponsored entities |  |  | 133,681 |  |  | - |  |  | 133,681 |  |  | -
﻿Total |  | $ | 240,621 |  | $ | - |  | $ | 240,621 |  | $ | -
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
﻿ |  | (In thousands)
﻿ |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |
﻿States and political subdivisions |  | $ | 97,613 |  | $ | - |  | $ | 97,613 |  | $ | -
﻿Corporate obligations |  |  | 8,640 |  |  | - |  |  | 8,640 |  |  | -
﻿Mortgage-backed securities-government |  |  |  |  |  |  |  |  |  |  |  |
﻿ sponsored entities |  |  | 137,024 |  |  | - |  |  | 137,024 |  |  | -
﻿Total |  | $ | 243,277 |  | $ | - |  | $ | 243,277 |  | $ | -
﻿
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  | Fair Value Measurement Reporting Date using Reporting Date
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
﻿March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
﻿Impaired Loans |  | $ | 451 |  | $ | - |  | $ | - |  | $ | 451
﻿Foreclosed Real Estate Owned |  |  | 1,792 |  |  | - |  |  | - |  |  | 1,792
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
﻿Impaired Loans |  | $ | 1,319 |  | $ | - |  | $ | - |  | $ | 1,319
﻿Foreclosed Real Estate Owned |  |  | 1,115 |  |  | - |  |  | - |  |  | 1,115
﻿
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)
﻿March 31, 2019 |  |  |  |  |  |  |
﻿Impaired loans | $ | 344 |  | Appraisal of collateral(1) | Appraisal adjustments(2) |  | 10.00-57.58% (18.93%)
﻿Impaired loans | $ | 107 |  | Present value of future cash flows | Loan discount rate |  | 4.00% (4.00%)
﻿ |  |  |  |  |  |  |
﻿Foreclosed real estate owned | $ | 1,792 |  | Appraisal of collateral(1) | Liquidation Expenses(2) |  | 7.00-68.75% (9.25%)
﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |
﻿ | Quantitative Information about Level 3 Fair Value Measurements
﻿(dollars in thousands) | Fair Value Estimate |  | Valuation Techniques | Unobservable Input |  | Range (Weighted Average)
﻿December 31, 2018 |  |  |  |  |  |  |
﻿Impaired loans | $ | 232 |  | Appraisal of collateral(1) | Appraisal adjustments(2) |  | 10.00-81.54% (56.06%)
﻿Impaired loans | $ | 1,087 |  | Present value of future cash flows | Loan discount rate |  | 4.00-6.00% (5.80%)
﻿ |  |  |  |  |  |  |
﻿Foreclosed real estate owned | $ | 1,115 |  | Appraisal of collateral(1) | Liquidation Expenses(2) |  | 7.00-85.71% (7.80%)
﻿
| (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 March 31, 2019
﻿ | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
﻿Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents (1) | $ | 19,874 |  | $ | 19,874 |  | $ | 19,874 |  | $ | - |  | $ | -
﻿Loans receivable, net |  | 855,849 |  |  | 861,129 |  |  | - |  |  | - |  |  | 861,129
﻿Mortgage servicing rights |  | 176 |  |  | 220 |  |  | - |  |  | - |  |  | 220
﻿Regulatory stock (1) |  | 3,132 |  |  | 3,132 |  |  | 3,132 |  |  | - |  |  | -
﻿Bank owned life insurance (1) |  | 38,134 |  |  | 38,134 |  |  | 38,134 |  |  | - |  |  | -
﻿Accrued interest receivable (1) |  | 4,089 |  |  | 4,089 |  |  | 4,089 |  |  | - |  |  | -
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Deposits |  | 974,415 |  |  | 973,011 |  |  | 611,162 |  |  | - |  |  | 361,849
﻿Short-term borrowings (1) |  | 37,824 |  |  | 37,824 |  |  | 37,824 |  |  | - |  |  | -
﻿Other borrowings |  | 47,955 |  |  | 47,977 |  |  | - |  |  | - |  |  | 47,977
﻿Accrued interest payable (1) |  | 2,457 |  |  | 2,457 |  |  | 2,457 |  |  | - |  |  | -
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Off-balance sheet financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Commitments to extend credit and outstanding letters of credit |  | - |  |  | - |  |  | - |  |  | - |  |  | -
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Fair Value Measurements at December 31, 2018
﻿ | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
﻿Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents (1) | $ | 18,348 |  | $ | 18,348 |  | $ | 18,348 |  | $ | - |  | $ | -
﻿Loans receivable, net |  | 841,730 |  |  | 840,134 |  |  | - |  |  | - |  |  | 840,134
﻿Mortgage servicing rights |  | 178 |  |  | 220 |  |  | - |  |  | - |  |  | 220
﻿Regulatory stock (1) |  | 3,926 |  |  | 3,926 |  |  | 3,926 |  |  | - |  |  | -
﻿Bank owned life insurance (1) |  | 37,932 |  |  | 37,932 |  |  | 37,932 |  |  | - |  |  | -
﻿Accrued interest receivable (1) |  | 3,776 |  |  | 3,776 |  |  | 3,776 |  |  | - |  |  | -
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Deposits |  | 946,780 |  |  | 945,773 |  |  | 601,604 |  |  | - |  |  | 344,169
﻿Short-term borrowings (1) |  | 53,046 |  |  | 53,046 |  |  | 53,046 |  |  | - |  |  | -
﻿Other borrowings |  | 52,284 |  |  | 52,043 |  |  | - |  |  | - |  |  | 52,043
﻿Accrued interest payable (1) |  | 1,806 |  |  | 1,806 |  |  | 1,806 |  |  | - |  |  | -
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Off-balance sheet financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Commitments to extend credit and outstanding letters of credit |  | - |  |  | - |  |  | - |  |  | - |  |  | -
﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ This financial instrument is carried at cost, which approximates the fair value of the instrument.

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- 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) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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