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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019 and December 31, 2018:

					Fair Value Measurements at
					December 31, 2019
					Using
	Balance as of				Quoted Prices in  Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	December 31, 2019				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	22,186			$	—			$	22,186			$	—
Mortgage-backed securities	108,161				—				108,161				—
Obligations of states and political subdivisions	34,656				—				34,656				—
Total assets at fair value	$	165,003			$	—			$	165,003			$	—
Liabilities:
Total liabilities at fair value	$	—			$	—			$	—			$	—
					Fair Value Measurements at
					December 31, 2018
					Using
	Balance as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	December 31, 2018				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	21,731			$	—			$	21,731			$	—
Mortgage-backed securities	76,483				—				76,483				—
Obligations of states and political subdivisions	46,084				—				46,084				—
Total assets at fair value	$	144,298			$	—			$	144,298			$	—
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, 2019 and 2018.

	Level 3 Recurring Fair Value Measurements
	As of and for the Year Ended
	December 31, 2019			December 31, 2018
	(in thousands)
Beginning balance	$	—		$	543
Purchases	—			—
Sales	—			—
Issuances	—			—
Settlements	—			(543		)
Total assets at fair value	$	—		$	—

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, 2019 and December 31, 2018:

	Quantitative information about Level 3 Fair Value Measurements for
	December 31, 2019
	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%
	Quantitative information about Level 3 Fair Value Measurements for
	December 31, 2018
	Valuation Technique(s)		Unobservable Input		Range		Weighted Average
Assets:
Impaired loans	Discounted appraised value		Selling cost		0% - 12%		8%
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%

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, 2019 and December 31, 2018:

					Carrying value at
					December 31, 2019
	Balance as of				Identical Assets				Observable Inputs				Unobservable Inputs
	December 31, 2019				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	3,075			$	—			$	—			$	3,075
Nonfinancial Assets:
Other real estate owned	183				—				—				183
					Carrying value at
					December 31, 2018
	Balance as of				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	December 31, 2018				(Level 1)				(Level 2)				(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	3,598			$	—			$	—			$	3,598
Nonfinancial Assets:
Other real estate owned	106				—				—				106

Company's Financial Instruments

The carrying amount and fair value of the Company’s financial instruments at December 31, 2019 and 2018 were as follows:

	Fair Value Measurements at
	December 31, 2019
	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, 2019				(Level 1)				(Level 2)				(Level 3)				December 31, 2019
	(in thousands)
Financial Assets:
Cash and short-term investments	$	33,659			$	33,659			$	—			$	—			$	33,659
Securities	165,003				—				165,003				—				165,003
Restricted investments	1,197				—				1,197				—				1,197
Loans, net	639,787				—				—				633,476				633,476
Bank owned life insurance	398				—				398				—				398
Accrued interest receivable	2,237				—				2,237				—				2,237
Financial Liabilities:
Deposits	$	771,544			$	—			$	772,111			$	—			$	772,111
Accrued interest payable	142				—				142				—				142

	Fair Value Measurements at
	December 31, 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
	December 31, 2018				(Level 1)				(Level 2)				(Level 3)				December 31, 2018
	(in thousands)
Financial assets:
Cash and short-term investments	$	18,353			$	18,353			$	—			$	—			$	18,353
Securities	144,298				—				144,298				—				144,298
Restricted investments	1,170				—				1,170				—				1,170
Loans, net	601,371				—				—				592,566				592,566
Bank owned life insurance	447				—				447				—				447
Accrued interest receivable	2,222				—				2,222				—				2,222
Financial liabilities:
Deposits	$	703,104			$	—			$	703,323			$	—			$	703,323
Federal funds purchased	1,871				—				1,871				—				1,871
Accrued interest payable	101				—				101				—				101

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- 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.

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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.

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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).

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