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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2020 and December 31, 2019:
|  |  |  |  |  | Fair Value Measurements at |
|  |  |  |  |  | December 31, 2020 |
|  |  |  |  |  | Using |
|  | Balance as of |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Unobservable Inputs |
|  | December 31, 2020 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government corporations and agencies |  | $ | 17,483 |  |  | $ | — |  |  | $ | 17,483 |  |  | $ | — |
Mortgage-backed securities |  |  | 119,009 |  |  |  | — |  |  |  | 119,009 |  |  |  | — |
Obligations of states and political subdivisions |  |  | 27,213 |  |  |  | — |  |  |  | 27,213 |  |  |  | — |
Subordinated debt |  |  | 1,250 |  |  |  | — |  |  |  | 1,250 |  |  |  | — |
Total assets at fair value |  | $ | 164,955 |  |  | $ | — |  |  | $ | 164,955 |  |  | $ | — |
|  |  |  |  |  | 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 |  |  | $ | — |
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, 2020 and December 31, 2019:
|  | Quantitative information about Level 3 Fair Value Measurements |
|  | December 31, 2020 |
|  | Valuation Technique(s) |  | Unobservable Input |  | Range |  |  | Weighted Average (1) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | Present value of cash flows |  | Discount rate |  | 4% - 6% |  |  | 4% |
Other real estate owned |  | Discounted appraised value |  | Discount for current market conditions and selling costs |  | 6% |  |  | 6% |
|  | 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% |
(1) - Weighted based on the relative fair values of the specific items measured at fair value.
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, 2020 and December 31, 2019:
|  |  |  |  |  | Carrying value at |
|  |  |  |  |  | December 31, 2020 |
|  | Balance as of |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Unobservable Inputs |
|  | December 31, 2020 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
|  | (in thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 1,355 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,355 |
Nonfinancial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other real estate owned |  |  | 607 |  |  |  | — |  |  |  | 165 |  |  |  | 442 |
|  |  |  |  |  | Carrying value at |
|  |  |  |  |  | December 31, 2019 |
|  | 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) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 3,075 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,075 |
Nonfinancial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other real estate owned |  |  | 183 |  |  |  | — |  |  |  | — |  |  |  | 183 |
Company's Financial Instruments | The carrying amount and fair value of the Company’s financial instruments at December 31, 2020 and 2019 were as follows:
|  | Fair Value Measurements at |
|  | December 31, 2020 |
|  | 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, 2020 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | December 31, 2020 |
|  | (in thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short-term investments |  | $ | 79,920 |  |  | $ | 79,920 |  |  | $ | — |  |  | $ | — |  |  | $ | 79,920 |
Securities |  |  | 164,955 |  |  |  | — |  |  |  | 164,955 |  |  |  | — |  |  |  | 164,955 |
Restricted Investments |  |  | 1,267 |  |  |  | — |  |  |  | 1,267 |  |  |  | — |  |  |  | 1,267 |
Loans, net |  |  | 829,238 |  |  |  | — |  |  |  | — |  |  |  | 819,691 |  |  |  | 819,691 |
Bank owned life insurance |  |  | 12,709 |  |  |  | — |  |  |  | 12,709 |  |  |  | — |  |  |  | 12,709 |
Accrued interest receivable |  |  | 3,441 |  |  |  | — |  |  |  | 3,441 |  |  |  | — |  |  |  | 3,441 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,013,098 |  |  | $ | — |  |  | $ | 1,013,600 |  |  | $ | — |  |  | $ | 1,013,600 |
Accrued interest payable |  |  | 72 |  |  |  | — |  |  |  | 72 |  |  |  | — |  |  |  | 72 |
|  | 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 |

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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=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
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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 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=121572278&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
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- Definition 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/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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
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