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6. Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

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

		September 30, 2019
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	70,700				-				70,700				-
U.S. Government
sponsored enterprises		$	29,118				-				29,118				-
State and political subdivisions		$	86,195				-				86,195				-
Trust preferred securities		$	250				-				-				250

(Dollars in thousands)
		December 31, 2018
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	52,103				-				52,103				-
U.S. Government
sponsored enterprises		$	34,634				-				34,634				-
State and political subdivisions		$	107,591				-				107,591				-
Trust preferred securities		$	250				-				-				250

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

		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

		Fair Value Measurements September 30, 2019				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	4,263				-				-				4,263
Impaired loans		$	20,388				-				-				20,388
Other real estate		$	26				-				-				26

		Fair Value Measurements December 31, 2018				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	680				-				-				680
Impaired loans		$	21,695				-				-				21,695
Other real estate		$	27				-				-				27

		Fair Value September 30, 2019				Fair Value December 31, 2018			Valuation Technique		Significant Unobservable Inputs				General Range of Significant Unobservable Input Values
Mortgage loans held for sale		$	4,263				680		Rate lock commitment		N/A					N/A
Impaired loans		$	20,388				21,695		Appraised value and discounted cash flows		Discounts to reflect current market conditions and ultimate collectability					0 - 25%
Other real estate		$	26				27		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

						Fair Value Measurements at September 30, 2019
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	129,553				129,553				-				-				129,553
Investment securities available for sale		$	186,263				-				186,013				250				186,263
Other investments		$	7,239				-				-				7,239				7,239
Mortgage loans held for sale		$	4,263				-				-				4,263				4,263
Loans, net		$	839,021				-				-				816,260				816,260
Cash surrender value of life insurance		$	16,222				-				16,222				-				16,222
Liabilities:
Deposits		$	961,568				-				-				949,309				949,309
Securities sold under agreements
to repurchase		$	21,927				-				21,927				-				21,927
FHLB borrowings		$	70,000				-				-				70,555				70,555
Junior subordinated debentures		$	20,619				-				20,619				-				20,619

						Fair Value Measurements at December 31, 2018
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	43,370				43,370				-				-				43,370
Investment securities available for sale		$	194,578				-				194,328				250				194,578
Other investments		$	4,361				-				-				4,361				4,361
Mortgage loans held for sale		$	680				-				-				680				680
Loans, net		$	797,578				-				-				748,917				748,917
Cash surrender value of life insurance		$	15,936				-				15,936				-				15,936
Liabilities:
Deposits		$	877,213				-				-				857,999				857,999
Securities sold under agreements
to repurchase		$	58,095				-				58,095				-				58,095
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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-Publisher FASB
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-Topic 820
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