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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

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 September 30, 2018 and December 31, 2017:

					Fair Value Measurements at
					September 30, 2018
					Using
	Balance as of				Quoted Prices in  Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	September 30, 2018				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	21,325			$	—			$	21,325			$	—
Mortgage-backed securities	72,949				—				72,949				—
Obligations of states and political subdivisions	46,126				—				46,126				—
Total assets at fair value	$	140,400			$	—			$	140,400			$	—
					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

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 three and nine months ended September 30, 2018 and 2017.

	Level 3 Recurring Fair Value Measurements
	As of and For the Three Months Ended								As of and for the Nine Months Ended
	September 30, 2018				September 30, 2017				September 30, 2018				September 30, 2017
	(in thousands)								(in thousands)
Beginning balance	$	—			$	579			$	543			$	614
Purchases	—				—				—				—
Sales	—				—				—				—
Issuances	—				—				—				—
Settlements	—				(28		)		(543		)		(63		)
Total assets at fair value	$	—			$	551			$	—			$	551

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 at September 30, 2018 and December 31, 2017:

	Quantitative information about Level 3 Fair Value Measurements for
	September 30, 2018
	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% - 6%		5%
Other real estate owned	Discounted appraised value		Discount for current market conditions and selling costs		6%		6%
	December 31, 2017
	Valuation Technique(s)		Unobservable Input		Range		Weighted Average
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		Discount for current market conditions and selling costs		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 September 30, 2018 and December 31, 2017:

					Fair Value at
					September 30, 2018
	Balance as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	September 30, 2018				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	1,809			$	—			$	—			$	1,809
Nonfinancial Assets:
Other real estate owned	2,033				—				—				2,033
					Fair Value at
					December 31, 2017
	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)
Financial Assets:
Impaired loans	$	2,248			$	—			$	—			$	2,248
Nonfinancial Assets:
Other real estate owned	106				—				—				106

Company's Financial Instruments

The carrying value and fair value of the Company’s financial instruments at September 30, 2018 and December 31, 2017 were as follows:

	Fair Value Measurements at
	September 30, 2018
	Using
	Carrying Value as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs				Fair Value as of
	September 30, 2018				(Level 1)				(Level 2)				(Level 3)				September 30, 2018
	(in thousands)
Financial Assets:
Cash and short-term investments	$	13,177			$	13,177			$	—			$	—			$	13,177
Securities	140,400				—				140,400				—				140,400
Restricted Investments	1,166				—				1,166				—				1,166
Loans, net	593,754				—				—				585,263				585,263
Bank owned life insurance	466				—				466				—				466
Accrued interest receivable	2,128				—				2,128				—				2,128
Financial Liabilities:
Deposits	$	693,337			$	—			$	692,410			$	—			$	692,410
Federal funds purchased	1,158				—				1,158				—				1,158
Accrued interest payable	99				—				99				—				99

	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

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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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- Definition

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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-Publisher FASB
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-Section 50
-Paragraph 2
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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

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-Publisher FASB
-Name Accounting Standards Codification
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
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