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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table presents balances of financial assets and liabilities measured at fair value on a recurring basis at December 31, 2017 and December 31, 2016:

					Fair Value Measurements at
					December 31, 2017
					Using
	Balance as of				Quoted Prices in  Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	December 31, 2017				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	21,520			$	—			$	21,520			$	—
Mortgage-backed securities	61,244				—				61,244				—
Obligations of states and political subdivisions	49,802				—				49,259				543
Total assets at fair value	$	132,566			$	—			$	132,023			$	543
Liabilities:
Total liabilities at fair value	$	—			$	—			$	—			$	—
					Fair Value Measurements at
					December 31, 2016
					Using
	Balance as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	December 31, 2016				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	30,441			$	—			$	30,441			$	—
Mortgage-backed securities	42,372				—				42,372				—
Obligations of states and political subdivisions	46,449				—				45,835				614
Total assets at fair value	$	119,262			$	—			$	118,648			$	614
Liabilities:
Total liabilities at fair value	$	—			$	—			$	—			$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below presents a reconciliation for all assets measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2017 and 2016.

	Level 3 Recurring Fair Value Measurements
	As of and for the Year Ended
	December 31, 2017			December 31, 2016
	(in thousands)
Beginning balance	$	614		$	684
Purchases	—			—
Sales	—			—
Issuances	—			—
Settlements	(71		)	(70		)
Total assets at fair value	$	543		$	614

Quantitative Information About Level 3 Fair Value Measurements For Certain Financial Assets

The following table displays quantitative information about Level 3 Fair Value Measurements for certain financial assets measured at fair value on a nonrecurring basis for December 31, 2017 and December 31, 2016:

	Quantitative information about Level 3 Fair Value Measurements for
	December 31, 2017
	Valuation Technique(s)		Unobservable Input		Range		Weighted Average
Assets:
Impaired loans	Discounted appraised value		Selling cost		6% - 12%		7%
Impaired loans	Present value of cash flows		Discount rate		4% - 10%		5%
Other real estate owned	Discounted appraised value		Selling cost		6%		6%
	Quantitative information about Level 3 Fair Value Measurements for
	December 31, 2016
	Valuation Technique(s)		Unobservable Input		Range		Weighted Average
Assets:
Impaired loans	Discounted appraised value		Selling cost		12%		12%
Impaired loans	Present value of cash flows		Discount rate		4% - 7%		5%
Other real estate owned	Discounted appraised value		Selling cost		6%		6%

Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis

The following table summarizes the Company’s financial and nonfinancial assets that were measured at fair value on a nonrecurring basis at December 31, 2017 and December 31, 2016:

					Carrying value at
					December 31, 2017
	Balance as of				Identical Assets				Observable Inputs				Unobservable Inputs
	December 31, 2017				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	2,248			$	—			$	—			$	2,248
Nonfinancial Assets:
Other real estate owned	106				—				—				106
					Carrying value at
					December 31, 2016
	Balance as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	December 31, 2016				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	2,671			$	—			$	—			$	2,671
Nonfinancial Assets:
Other real estate owned	370				—				—				370

Company's Financial Instruments

The carrying amount and fair value of the Company’s financial instruments at December 31, 2017 and 2016 were as follows:

	Fair Value Measurements at
	December 31, 2017
	Using
	Carrying Value as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs				Fair Value as of
	December 31, 2017				(Level 1)				(Level 2)				(Level 3)				December 31, 2017
	(in thousands)
Financial Assets:
Cash and short-term investments	$	35,848			$	35,848			$	—			$	—			$	35,848
Securities	132,566				—				132,023				543				132,566
Restricted Investments	1,107				—				1,107				—				1,107
Loans, net	564,406				—				—				559,665				559,665
Bank owned life insurance	486				—				486				—				486
Accrued interest receivable	1,955				—				1,955				—				1,955
Financial Liabilities:
Deposits	$	663,414			$	—			$	662,696			$	—			$	662,696
Accrued interest payable	44				—				44				—				44

	Fair Value Measurements at
	December 31, 2016
	Using
	Carrying Value as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs				Fair Value as of
	December 31, 2016				(Level 1)				(Level 2)				(Level 3)				December 31, 2016
	(in thousands)
Financial assets:
Cash and short-term investments	$	35,281			$	35,281			$	—			$	—			$	35,281
Securities	119,262				—				118,648				614				119,262
Restricted Investments	1,068				—				1,068				—				1,068
Loans, net	512,437				—				—				512,181				512,181
Bank owned life insurance	1,769				—				1,769				—				1,769
Accrued interest receivable	588				—				588				—				588
Financial liabilities:
Deposits	$	603,877			$	—			$	603,516			$	—			$	603,516
Accrued interest payable	34				—				34				—				34

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

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-Name Accounting Standards Codification
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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

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