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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2018
Fair Value [Abstract] |
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities | ﻿
﻿ |  |
﻿ | Fair Value Measurements at September 30, 2018 using Significant Other Observable Inputs
﻿ | (Level 2)
﻿ | (unaudited)
﻿Financial Assets: |  |
﻿Securities available for sale: |  |
﻿Issued by U.S. government-sponsored entities and agencies: |  |
﻿U.S. Treasury | $ | 10,804
﻿Mortgage-backed securities - residential |  | 187
﻿Collateralized mortgage obligations |  | 73
﻿Total securities available for sale | $ | 11,064
﻿Loans held for sale | $ | 24,079
﻿Yield maintenance provisions (embedded derivatives) | $ | 9
﻿Interest rate lock commitments | $ | 203
﻿TBA Mortgage-back securities | $ | 128
﻿Financial Liabilities: |  |
﻿Interest-rate swaps | $ | 9
﻿ ﻿
﻿ |  |
﻿ | Fair Value Measurements at December 31, 2017 using Significant Other Observable Inputs
﻿ | (Level 2)
﻿Financial Assets: |  |
﻿Securities available for sale: |  |
﻿Issued by U.S. government-sponsored entities and agencies: |  |
﻿U.S. Treasury | $ | 11,417
﻿Mortgage-backed securities - residential |  | 244
﻿Collateralized mortgage obligations |  | 112
﻿Total securities available for sale | $ | 11,773
﻿ |  |
﻿Loans held for sale |  | 1,124
﻿ |  |
﻿Yield maintenance provisions (embedded derivatives) | $ | 56
﻿ |  |
﻿Interest rate lock commitments | $ | 11
﻿ |  |
﻿Financial Liabilities: |  |
﻿Interest-rate swaps | $ | 56
﻿
Assets and liabilities measured at fair value on a non-recurring basis | Assets and liabilities measured at fair value on a non-recurring basis are summarized below: ﻿
﻿ |  |
﻿Fair Value Measurements at September 30, 2018 Using
﻿Significant Unobservable Inputs (Level 3)
﻿(unaudited)
﻿Impaired loans: |  |
﻿Commercial | $ | 103
﻿Real Estate: |  |
﻿Single-family residential |  | 112
﻿Commercial: |  |
﻿Non-owner occupied |  | 2,803
﻿Total impaired loans | $ | 3,018
﻿ ﻿
﻿ |  |
﻿Fair Value Measurements at December 31, 2017 Using
﻿Significant Unobservable Inputs (Level 3)
﻿ |  |
﻿Impaired loans: |  |
﻿Commercial | $ | 115
﻿Real Estate: |  |
﻿Single-family residential |  | 116
﻿Commercial: |  |
﻿Non-owner occupied |  | 2,832
﻿Total impaired loans | $ | 3,063
﻿
Financial instruments measured at fair value on a non-recurring basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2018 (unaudited):
﻿ |  |  |  |  |  |  |  |
﻿ |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Inputs |  | (Range) Weighted Average
﻿Impaired loans: |  |  |  |  |  |  |  |
﻿Commercial | $ | 103 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | 3.48%
﻿Real estate: |  |  |  |  |  |  |  |
﻿Single-family residential |  | 112 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (1.81% , 3.61%) 2.91%
﻿Commercial: |  |  |  |  |  |  |  |
﻿Non-owner occupied |  | 2,803 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (3.48%, 9.64%) 5.15%
﻿ The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2017:
﻿ |  |  |  |  |  |  |  |
﻿ |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Inputs |  | (Range) Weighted Average
﻿Impaired loans: |  |  |  |  |  |  |  |
﻿Commercial | $ | 115 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | 3.48%
﻿Real estate: |  |  |  |  |  |  |  |
﻿Single -family residential |  | 116 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (1.81% , 3.61%) 2.91%
﻿Commercial: |  |  |  |  |  |  |  |
﻿Non-owner occupied |  | 2,832 |  | Comparable sales approach |  | Adjustment for differences between the comparable market transactions |  | (3.48%, 9.64%) 5.15%
﻿
Aggregate fair value, contractual balance (including accrued interest) and gain or loss |
﻿ |  |  |  |  |
﻿ |  |  |  |  |
﻿ | September 30, 2018 |  | December 31, 2017
﻿ | (unaudited) |  |  |
﻿Aggregate fair value | $ | 24,079 |  | $ | 1,124
﻿Contractual balance |  | 24,009 |  |  | 1,120
﻿Gain (loss) | $ | 70 |  | $ | 4
﻿
Amount of gains and losses from changes in fair value included in earnings |
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ | Three months ended September 30, |  | Nine months ended September 30,
﻿ | 2018 |  | 2017 |  | 2018 |  | 2017
﻿ | (unaudited) |  | (unaudited)
﻿Interest income | $ | 285 |  | $ | 10 |  | $ | 451 |  | $ | 39
﻿Interest expense |  | - |  |  | - |  |  | - |  |  | -
﻿Change in fair value |  | (208) |  |  | 13 |  |  | 66 |  |  | 4
﻿Total change in fair value | $ | 77 |  | $ | 23 |  | $ | 517 |  | $ | 43
﻿
Carrying amounts and estimated fair values of financial instruments | ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Fair Value Measurements at September 30, 2018 Using:
﻿ | Carrying |  |  |  |  |  |  |  |  |  |  |  |
﻿(unaudited) | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents | $ | 59,368 |  | $ | 59,368 |  | $ | - |  | $ | - |  | $ | 59,368
﻿Interest-bearing deposits in other financial institutions |  | 100 |  |  | 100 |  |  | - |  |  | - |  |  | 100
﻿Securities available for sale |  | 11,064 |  |  | - |  |  | 11,064 |  |  | - |  |  | 11,064
﻿Loans held for sale |  | 24,079 |  |  | - |  |  | 24,079 |  |  | - |  |  | 24,079
﻿Loans and leases, net |  | 493,529 |  |  | - |  |  | - |  |  | 493,232 |  |  | 493,232
﻿FHLB and FRB stock |  | 3,476 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a
﻿Accrued interest receivable |  | 1,791 |  |  | 19 |  |  | 61 |  |  | 1,711 |  |  | 1,791
﻿Yield maintenance provisions (embedded derivatives) |  | 9 |  |  | - |  |  | 9 |  |  | - |  |  | 9
﻿Interest rate lock commitments |  | 203 |  |  | - |  |  | 203 |  |  | - |  |  | 203
﻿TBA mortgage-back securities |  | 128 |  |  | - |  |  | 128 |  |  | - |  |  | 128
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Deposits | $ | (532,062) |  | $ | (272,873) |  | $ | (257,256) |  | $ | - |  | $ | (530,129)
﻿FHLB advances and other borrowings |  | (21,500) |  |  | - |  |  | (21,595) |  |  | - |  |  | (21,595)
﻿Advances by borrowers for taxes and insurance |  | (449) |  |  | - |  |  | - |  |  | (449) |  |  | (449)
﻿Subordinated debentures |  | (5,155) |  |  | - |  |  | (5,053) |  |  | - |  |  | (5,053)
﻿Accrued interest payable |  | (196) |  |  | (10) |  |  | (186) |  |  | - |  |  | (196)
﻿Interest-rate swaps |  | (9) |  |  | - |  |  | (9) |  |  | - |  |  | (9)
﻿ The carrying amounts and estimated fair values of financial instruments at December 31, 2017 were as follows:
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Fair Value Measurements at December 31, 2017 Using:
﻿ | Carrying |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
﻿Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents | $ | 45,498 |  | $ | 45,498 |  | $ | - |  | $ | - |  | $ | 45,498
﻿Interest-bearing deposits in other financial institutions |  | 100 |  |  | 100 |  |  | - |  |  | - |  |  | 100
﻿Securities available for sale |  | 11,773 |  |  | - |  |  | 11,773 |  |  | - |  |  | 11,773
﻿Loans held for sale |  | 1,124 |  |  | - |  |  | 1,124 |  |  | - |  |  | 1,124
﻿Loans and leases, net |  | 406,406 |  |  | - |  |  | - |  |  | 402,719 |  |  | 402,719
﻿FHLB stock |  | 3,227 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a
﻿Accrued interest receivable |  | 1,326 |  |  | 27 |  |  | 38 |  |  | 1,261 |  |  | 1,326
﻿Yield maintenance provisions (embedded derivatives) |  | 56 |  |  | - |  |  | 56 |  |  | - |  |  | 56
﻿Interest rate lock commitments |  | 11 |  |  | - |  |  | 11 |  |  | - |  |  | 11
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Deposits | $ | (419,028) |  | $ | (236,797) |  | $ | (181,659) |  | $ | - |  | $ | (418,456)
﻿FHLB advances and other borrowings |  | (13,500) |  |  | - |  |  | (13,466) |  |  | - |  |  | (13,466)
﻿Advances by borrowers for taxes and insurance |  | (489) |  |  | - |  |  | - |  |  | (489) |  |  | (489)
﻿Subordinated debentures |  | (5,155) |  |  | - |  |  | (4,094) |  |  | - |  |  | (4,094)
﻿Accrued interest payable |  | (79) |  |  | (6) |  |  | (73) |  |  | - |  |  | (79)
﻿Interest-rate swaps |  | (56) |  |  | - |  |  | (56) |  |  | - |  |  | (56)
﻿

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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=99377789&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 (d) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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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=99377789&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=99377789&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=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of information about asset and liability measured at fair value under fair value option. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14210-108612 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14217-108612 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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