XML 55 R39.htm IDEA: XBRL DOCUMENT
v3.20.1

FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Schedule of carrying amount and estimated fair value by classification Level of the Company's financial instruments | The carrying amount and estimated fair value by classification Level of the Company’s financial instruments as of December 31, 2019 and December 31, 2018 are as follows:
|  | December 31, 2019 |
|  | Carrying |  | Fair Value |
(Dollars in thousands) |  | Amount |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short term investments |  | $ | 47,692 |  | $ | 47,692 |  | $ | 47,692 |  | $ | — |  | $ | — |
Available-for-sale securities |  |  | 286,800 |  |  | 286,800 |  |  | 23,632 |  |  | 261,361 |  |  | 1,807 |
Other investments, at cost |  |  | 1,992 |  |  | 1,992 |  |  | — |  |  | — |  |  | 1,992 |
Loans held for sale |  |  | 11,155 |  |  | 11,155 |  |  | — |  |  | 11,155 |  |  | — |
Net loans receivable |  |  | 730,401 |  |  | 728,745 |  |  | — |  |  | — |  |  | 728,745 |
Accrued interest |  |  | 3,481 |  |  | 3,481 |  |  | 3,481 |  |  | — |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing demand |  | $ | 289,829 |  | $ | 289,829 |  | $ | — |  | $ | 289,829 |  | $ | — |
Interest bearing demand deposits and money market accounts |  |  | 423,257 |  |  | 423,257 |  |  | — |  |  | 423,257 |  |  | — |
Savings |  |  | 104,456 |  |  | 104,456 |  |  | — |  |  | 104,456 |  |  | — |
Time deposits |  |  | 170,660 |  |  | 171,558 |  |  | — |  |  | 171,558 |  |  | — |
Total deposits |  |  | 988,201 |  |  | 989,099 |  |  | — |  |  | 989,099 |  |  | — |
Federal Home Loan Bank Advances |  |  | 211 |  |  | 211 |  |  | — |  |  | 211 |  |  | — |
Short term borrowings |  |  | 33,296 |  |  | 33,296 |  |  | — |  |  | 33,296 |  |  | — |
Junior subordinated debentures |  |  | 14,964 |  |  | 13,161 |  |  | — |  |  | 13,161 |  |  | — |
Accrued interest payable |  |  | 1,033 |  |  | 1,033 |  |  | 1,033 |  |  | — |  |  | — |
|  | December 31, 2018 |
|  | Carrying |  | Fair Value |
(Dollars in thousands) |  | Amount |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short term investments |  | $ | 32,268 |  | $ | 32,268 |  | $ | 32,268 |  | $ | — |  | $ | — |
Held-to-maturity securities |  |  | 16,174 |  |  | 16,184 |  |  | — |  |  | 16,184 |  |  | — |
Available-for-sale securities |  |  | 237,893 |  |  | 237,893 |  |  | 1,642 |  |  | 235,560 |  |  | 691 |
Other investments, at cost |  |  | 1,955 |  |  | 1,955 |  |  | — |  |  | — |  |  | 1,955 |
Loans held for sale |  |  | 3,223 |  |  | 3,223 |  |  | — |  |  | 3,223 |  |  | — |
Net loans receivable |  |  | 712,199 |  |  | 697,432 |  |  | — |  |  | 693,065 |  |  | 4,367 |
Accrued interest |  |  | 3,579 |  |  | 3,579 |  |  | 3,579 |  |  | — |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing demand |  | $ | 244,686 |  | $ | 244,686 |  | $ | — |  | $ | 244,686 |  | $ | — |
NOW and money market accounts |  |  | 393,473 |  |  | 393,473 |  |  | — |  |  | 393,473 |  |  | — |
Savings |  |  | 108,368 |  |  | 108,368 |  |  | — |  |  | 108,368 |  |  | — |
Time deposits |  |  | 178,996 |  |  | 177,797 |  |  | — |  |  | 177,797 |  |  | — |
Total deposits |  |  | 925,523 |  |  | 924,324 |  |  | — |  |  | 924,324 |  |  | — |
Federal Home Loan Bank Advances |  |  | 231 |  |  | 231 |  |  | — |  |  | 231 |  |  | — |
Short term borrowings |  |  | 28,022 |  |  | 28,022 |  |  | — |  |  | 28,022 |  |  | — |
Junior subordinated debentures |  |  | 14,964 |  |  | 14,178 |  |  | — |  |  | 12,791 |  |  | — |
Accrued interest payable |  |  | 861 |  |  | 861 |  |  | 861 |  |  | — |  |  | — |
Schedule of fair value for each category of assets carried at fair value that are measured on a recurring basis | The following table summarizes quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2019 and December 31, 2018 that are measured on a recurring basis. There were no liabilities carried at fair value as of December 31, 2019 or December 31, 2018 that are measured on a recurring basis. (Dollars in thousands)
Description |  | December 31, 2019 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Available- for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Securities |  | $ | 7,203 |  |  | $ | — |  |  | $ | 7,203 |  |  | $ | — |
Government Sponsored Enterprises |  |  | 1,001 |  |  |  | — |  |  |  | 1,001 |  |  |  | — |
Mortgage-backed securities |  |  | 183,586 |  |  |  | 18,435 |  |  |  | 163,344 |  |  |  | 1,807 |
Small Business Administration pools |  |  | 45,343 |  |  |  | — |  |  |  | 45,343 |  |  |  | — |
State and local government |  |  | 49,648 |  |  |  | 5,188 |  |  |  | 44,460 |  |  |  | — |
Corporate and other securities |  |  | 19 |  |  |  | 9 |  |  |  | 10 |  |  |  | — |
|  |  | 286,800 |  |  |  | 23,632 |  |  |  | 261,361 |  |  |  | 1,807 |
Loans held for sale |  |  | 11,155 |  |  |  | — |  |  |  | 11,155 |  |  |  | — |
Total |  | $ | 297,955 |  |  | $ | 23,632 |  |  | $ | 272,516 |  |  | $ | 1,807 |
(Dollars in thousands)
Description |  | December 31, 2018 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Securities |  | $ | 15,457 |  |  | $ | — |  |  | $ | 15,457 |  |  | $ | — |
Government sponsored enterprises |  |  | 1,100 |  |  |  | — |  |  |  | 1,100 |  |  |  | — |
Mortgage-backed securities |  |  | 115,475 |  |  |  | — |  |  |  | 114,784 |  |  |  | 691 |
Small Business Administration pools |  |  | 55,336 |  |  |  | 1,633 |  |  |  | 53,703 |  |  |  | — |
State and local government |  |  | 50,506 |  |  |  | — |  |  |  | 50,506 |  |  |  | — |
Corporate and other securities |  |  | 19 |  |  |  | 9 |  |  |  | 10 |  |  |  | — |
|  |  | 237,893 |  |  |  | 1,642 |  |  |  | 235,560 |  |  |  | 691 |
Loans held for sale |  |  | 3,223 |  |  |  | — |  |  |  | 3,223 |  |  |  | — |
Total |  | $ | 241,116 |  |  | $ | 1,642 |  |  | $ | 238,783 |  |  | $ | 691 |
Schedule of the fair value for each category of assets carried at fair value that are measured on a non-recurring basis | The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2019 and December 31, 2018 that are measured on a non-recurring basis. There were no liabilities carried at fair value and measured on a non-recurring basis at December 31, 2019 and 2018.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Description |  | December 31, 2019 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Impaired loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 400 |  |  | $ | — |  |  | $ | — |  |  | $ | 400 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-residential |  |  | 392 |  |  |  | — |  |  |  | — |  |  |  | 392 |
Mortgage-commercial |  |  | 3,129 |  |  |  | — |  |  |  | — |  |  |  | 3,129 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  | 70 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total impaired |  |  | 3,991 |  |  |  | — |  |  |  | — |  |  |  | 3,991 |
Other real estate owned: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | 826 |  |  |  | — |  |  |  | — |  |  |  | 826 |
Mortgage-commercial |  |  | 584 |  |  |  | — |  |  |  | — |  |  |  | 584 |
Total other real estate owned |  |  | 1,410 |  |  |  | — |  |  |  | — |  |  |  | 1,410 |
Total |  | $ | 5,401 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,401 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Description |  | December 31, 2018 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Impaired loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-residential |  |  | 322 |  |  |  | — |  |  |  | — |  |  |  | 322 |
Mortgage-commercial |  |  | 4,016 |  |  |  | — |  |  |  | — |  |  |  | 4,016 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 29 |  |  |  | — |  |  |  | — |  |  |  | 29 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total impaired |  |  | 4,367 |  |  |  | — |  |  |  | — |  |  |  | 4,367 |
Other real estate owned: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | 828 |  |  |  | — |  |  |  | — |  |  |  | 828 |
Mortgage-commercial |  |  | 632 |  |  |  | — |  |  |  | — |  |  |  | 632 |
Total other real estate owned |  | $ | 1,460 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,460 |
Total |  | $ | 6,057 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,057 |
Schedule of significant unobservable inputs used in the fair value measurements | For Level 3 assets and liabilities measured at fair value on a non-recurring or non-recurring basis as of December 31, 2019 and December 31, 2018, the significant unobservable inputs used in the fair value measurements were as follows:
(Dollars in thousands) |  | Fair Value as of December 31, 2019 |  | Valuation Technique |  | Significant Observable Inputs |  | Significant Unobservable Inputs |
OREO |  | $ | 1,410 |  | Appraisal Value/Comparison Sales/Other estimates |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost |
Impaired loans |  | $ | 3,991 |  | Appraisal Value |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost |
(Dollars in thousands) |  | Fair Value as of December 31, 2018 |  | Valuation Technique |  | Significant Observable Inputs |  | Significant Unobservable Inputs |
OREO |  | $ | 1,460 |  | Appraisal Value/Comparison Sales/Other estimates |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost |
Impaired loans |  | $ | 4,367 |  | Appraisal Value |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost |

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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) -URI http://asc.fasb.org/extlink&oid=117815213&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=117815213&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=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=117815213&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 (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -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 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration