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6. Fair Value (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Available for sale securities measured at fair value on a recurring basis

(Dollars in thousands)
		June 30, 2018
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	45,721				-				45,721				-
U.S. Government
sponsored enterprises		$	37,537				-				37,537				-
State and political subdivisions		$	125,535				-				125,535				-
Corporate bonds		$	1,012				-				1,012				-
Trust preferred securities		$	250				-				-				250

(Dollars in thousands)
		December 31, 2017
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	53,609				-				53,609				-
U.S. Government
sponsored enterprises		$	40,380				-				40,380				-
State and political subdivisions		$	133,570				-				133,570				-
Corporate bonds		$	1,512				-				1,512				-
Trust preferred securities		$	250				-				-				250

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs

(Dollars in thousands)
		Investment Securities Available for Sale
		Level 3 Valuation
Balance, beginning of period		$	250
Change in book value			-
Change in gain/(loss) realized and unrealized			-
Purchases/(sales and calls)			-
Transfers in and/or (out) of Level 3			-
Balance, end of period		$	250
Change in unrealized gain/(loss) for assets still held in Level 3		$	-

Fair value measurements for mortgage loans held for sale, impaired loans and other real estate on a non-recurring basis

(Dollars in thousands)
		Fair Value Measurements June 30, 2018				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	671				-				-				671
Impaired loans		$	23,129				-				-				23,129
Other real estate		$	90				-				-				90

(Dollars in thousands)
		Fair Value Measurements December 31, 2017				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	857				-				-				857
Impaired loans		$	23,442				-				-				23,442
Other real estate		$	118				-				-				118

(Dollars in thousands)
		Fair Value June 30, 2018				Fair Value December 31, 2017				Valuation Technique		Significant Unobservable Inputs		General Range of Significant Unobservable Input Values
Mortgage loans held for sale		$	671				857			Rate lock commitment		N/A		N/A
Impaired loans		$	23,129				23,442			Appraised value and discounted cash flows		Discounts to reflect current market conditions and ultimate collectability		0 - 25%
Other real estate		$	90				118			Appraised value		Discounts to reflect current market conditions and estimated costs to sell		0 - 25%

Carrying amount and estimated fair value of the Company's financial instruments

(Dollars in thousands)
						Fair Value Measurements at June 30, 2018
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	69,555				69,555				-				-				69,555
Investment securities available for sale		$	210,055				-				209,805				250				210,055
Other investments		$	4,427				-				-				4,427				4,427
Mortgage loans held for sale		$	671				-				-				671				671
Loans, net		$	775,607				-				-				769,227				769,227
Cash surrender value of life insurance		$	15,743				-				15,743				-				15,743
Liabilities:
Deposits		$	915,012				-				-				895,453				895,453
Securities sold under agreements
to repurchase		$	46,570				-				46,570				-				46,570
Junior subordinated debentures		$	20,619				-				20,619				-				20,619

(Dollars in thousands)
						Fair Value Measurements at December 31, 2017
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	57,304				57,304				-				-				57,304
Investment securities available for sale		$	229,321				-				229,071				250				229,321
Other investments		$	1,830				-				-				1,830				1,830
Mortgage loans held for sale		$	857				-				-				857				857
Loans, net		$	753,398				-				-				735,837				735,837
Cash surrender value of life insurance		$	15,552				-				15,552				-				15,552
Liabilities:
Deposits		$	906,952				-				-				894,932				894,932
Securities sold under agreements
to repurchase		$	37,757				-				37,757				-				37,757
Junior subordinated debentures		$	20,619				-				20,619				-				20,619

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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 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 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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