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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Balances of Assets Measured at Fair Value on a Recurring Basis

The following tables present the balances of assets measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018 (in thousands).

					Fair Value Measurements at March 31, 2019
Description	Balance as of March 31, 2019				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Securities available for sale
U.S. agency and mortgage-backed securities	$	95,566			$	—			$	95,566			$	—
Obligations of states and political subdivisions	25,636				—				25,636				—
	$	121,202			$	—			$	121,202			$	—
					Fair Value Measurements at December 31, 2018
Description	Balance as of December 31, 2018				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Securities available for sale
U.S. agency and mortgage-backed securities	$	84,922			$	—			$	84,922			$	—
Obligations of states and political subdivisions	14,935				—				14,935
	$	99,857			$	—			$	99,857			$	—

Summary of Assets Measured at Fair Value on a Nonrecurring Basis

The following tables summarize the Company’s assets that were measured at fair value on a nonrecurring basis during the periods (dollars in thousands):

					Fair Value Measurements at March 31, 2019
Description	Balance as of March 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, net	$	458			$	—			$	—			$	458

					Fair Value Measurements at December 31, 2018
Description	Balance as of 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, net	$	391			$	—			$	—			$	391

Quantitative Information about Level 3 Fair Value Measurements

	Quantitative information about Level 3 Fair Value Measurements for March 31, 2019
	Fair Value				Valuation Technique		Unobservable Input		Range (Weighted-Average)
Impaired loans, net	$	458			Property appraisals		Selling cost		10	%
	Quantitative information about Level 3 Fair Value Measurements for December 31, 2018
	Fair Value				Valuation Technique		Unobservable Input		Range (Weighted-Average)
Impaired loans, net	$	391			Property appraisals		Selling cost		10	%

Carrying Values and Estimated Fair Values of Company's Financial Instruments

The carrying values and estimated fair values of the Company’s financial instruments at March 31, 2019 and December 31, 2018 are as follows (in thousands):

					Fair Value Measurements at March 31, 2019 Using
	Carrying Amount				Quoted Prices in Active Markets for Identical Assets Level 1				Significant Other Observable Inputs Level 2				Significant Unobservable Inputs Level 3				Fair Value
Financial Assets
Cash and short-term investments	$	42,695			$	42,695			$	—			$	—			$	42,695
Securities available for sale	121,202				—				121,202				—				121,202
Securities held to maturity	19,489				—				17,677				1,513				19,190
Restricted securities	1,701				—				1,701				—				1,701
Loans held for sale	200				—				200				—				200
Loans, net	545,529				—				—				541,176				541,176
Bank owned life insurance	17,094				—				17,094				—				17,094
Accrued interest receivable	2,143				—				2,143				—				2,143
Financial Liabilities
Deposits	$	684,224			$	—			$	566,934			$	115,492			$	682,426
Other borrowings	5,000				—				—				5,000				5,000
Subordinated debt	4,969				—				—				5,127				5,127
Junior subordinated debt	9,279				—				—				9,464				9,464
Accrued interest payable	157				—				157				—				157

					Fair Value Measurements at December 31, 2018 Using
	Carrying Amount				Quoted Prices in Active Markets for Identical Assets Level 1				Significant Other Observable Inputs Level 2				Significant Unobservable Inputs Level 3				Fair Value
Financial Assets
Cash and short-term investments	$	28,618			$	28,618			$	—			$	—			$	28,618
Securities available for sale	99,857				—				99,857				—				99,857
Securities held to maturity	43,408				—				40,885				1,509				42,394
Restricted securities	1,688				—				1,688				—				1,688
Loans held for sale	419				—				419				—				419
Loans, net	537,847				—				—				528,643				528,643
Bank owned life insurance	13,991				—				13,991				—				13,991
Accrued interest receivable	2,113				—				2,113				—				2,113
Financial Liabilities
Deposits	$	670,566			$	—			$	551,347			$	117,220			$	668,567
Subordinated debt	4,965				—				—				5,035				5,035
Junior subordinated debt	9,279				—				—				7,952				7,952
Accrued interest payable	139				—				139				—				139

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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-Section 50
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-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611

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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

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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