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Fair Value (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities


	Fair Value Measurements at December 31, 2018 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	$	9,881
Mortgage-backed securities - residential		170
Collateralized mortgage obligations		63
Total securities available for sale	$	10,114
Loans held for sale	$	17,385
Yield maintenance provisions (embedded derivatives)	$	17
Interest rate lock commitments	$	721
Financial Liabilities:
Interest-rate swaps	$	17
TBA mortgage-backed securities	$	342






	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 Measured At Fair Value On A Non-Recurring Basis


Fair Value Measurements at December 31, 2018 Using
Significant Unobservable Inputs (Level 3)

Impaired loans:
Commercial	$	100
Real Estate:
Single-family residential		110
Commercial:
Non-owner occupied		2,804
Total impaired loans	$	3,014






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 December 31, 2018:


	Fair Value			Valuation Technique(s)		Unobservable Inputs		(Range) Weighted Average
Impaired loans:
Commercial	$	100		Comparable sales approach		Adjustment for differences between the comparable market transactions		3.48%
Real estate:
Single-family residential		110		Comparable sales approach		Adjustment for differences between the comparable market transactions		3.61%
Commercial:
Non-owner occupied		2,804		Comparable sales approach		Adjustment for differences between the comparable market transactions		(3.48%,  8.61%) 5.02%





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 And Gain Or Loss



	December 31, 2018			December 31, 2017
Aggregate fair value	$	17,385		$	1,124
Contractual balance		17,008			1,120
Gain		377			4



Amount Of Gains And Losses From Changes In Fair Value Included In Earnings


	2018			2017
Interest income	$	669		$	68
Interest expense		-			-
Change in fair value		373			(7)
Total change in fair value	$	1,042		$	61



Carrying Amounts And Estimated Fair Values Of Financial Instruments



The carrying amounts and estimated fair values of financial instruments at year-end were as follows:


	Fair Value Measurements at December 31, 2018 Using:
	Carrying
	Value			Level 1			Level 2			Level 3			Total
Financial assets
Cash and cash equivalents	$	67,304		$	67,304		$	-		$	-		$	67,304
Interest-bearing deposits in other financial institutions		100			100			-			-			100
Securities available for sale		10,114			-			10,114			-			10,114
Loans held for sale		17,385			-			17,385			-			17,385
Loans and leases, net		550,683			-			-			549,599			549,599
FHLB and FRB stock		3,476			n/a			n/a			n/a			n/a
Accrued interest receivable		2,181			45			40			2,097			2,182
Yield maintenance provisions (embedded derivatives)		17			-			17			-			17
Interest rate lock commitments		721			-			721			-			721

Financial liabilities
Deposits	$	(579,786)		$	(306,121)		$	(272,924)		$	-		$	(579,045)
FHLB advances and other borrowings		(19,500)			-			(19,589)			-			(19,589)
Advances by borrowers for taxes and insurance		(827)			-			-			(827)			(827)
Subordinated debentures		(14,767)			-			(14,280)			-			(14,280)
Accrued interest payable		(231)			-			(231)			-			(231)
Interest-rate swaps		(17)			-			(17)			-			(17)
TBA mortgage-backed securities		(342)			-			(342)			-			(342)





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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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.

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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).

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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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