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Fair Value (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019 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	$	8,017
Mortgage-backed securities - residential		130
Collateralized mortgage obligations		27
Total securities available for sale	$	8,174
Loans held for sale	$	135,711
Yield maintenance provisions (embedded derivatives)	$	12
Interest rate lock commitments	$	3,104
Financial Liabilities:
Interest-rate swaps	$	12
TBA mortgage-backed securities	$	350






	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



Assets Measured At Fair Value On A Non-Recurring Basis


Fair Value Measurements at December 31, 2019 Using
Significant Unobservable Inputs (Level 3)

Impaired loans:
Commercial	$	84
Real Estate:
Single-family residential		106
Commercial:
Non-owner occupied		4,387
Total impaired loans	$	4,577






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



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, 2019:


	Fair Value			Valuation Technique(s)		Unobservable Inputs		(Range) Weighted Average
Impaired loans:
Commercial	$	84		Comparable sales approach		Adjustment for differences between the comparable market transactions		2.06%
Real estate:
Single-family residential		106		Comparable sales approach		Adjustment for differences between the comparable market transactions		3.61%
Commercial:
Non-owner occupied		4,387		Comparable sales approach		Adjustment for differences between the comparable market transactions		(-2.58%,  14.00%) 2.44%





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%



Aggregate Fair Value, Contractual Balance And Gain Or Loss



	December 31, 2019			December 31, 2018
Aggregate fair value	$	135,711		$	17,385
Contractual balance		133,993			17,008
Gain		1,718			377



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


	2019			2018
Interest income	$	2,153		$	669
Interest expense		-			-
Change in fair value		1,341			373
Total change in fair value	$	3,494		$	1,042



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, 2019 Using:
	Carrying
	Value			Level 1			Level 2			Level 3			Total
Financial assets
Cash and cash equivalents	$	45,879		$	45,879		$	-		$	-		$	45,879
Interest-bearing deposits in other financial institutions		100			100			-			-			100
Securities available for sale		8,174			-			8,174			-			8,174
Loans held for sale		135,711			-			135,711			-			135,711
Loans and leases, net		663,303			-			-			664,152			664,152
FHLB and FRB stock		4,008			n/a			n/a			n/a			n/a
Accrued interest receivable		2,749			25			40			2,684			2,749
Yield maintenance provisions (embedded derivatives)		12			-			12			-			12
Interest rate lock commitments		3,104			-			3,104			-			3,104

Financial liabilities
Deposits	$	(746,323)		$	(382,173)		$	(367,375)		$	-		$	(749,548)
FHLB advances and other debt		(29,017)			-			(29,669)			-			(29,669)
Advances by borrowers for taxes and insurance		(929)			-			-			(929)			(929)
Subordinated debentures		(14,806)			-			(15,940)			-			(15,940)
Accrued interest payable		(208)			-			(208)			-			(208)
Interest-rate swaps		(12)			-			(12)			-			(12)
TBA mortgage-backed securities		(350)			-			(350)			-			(350)





The carrying amounts and estimated fair values of financial instruments at December 31, 2018 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 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 debt		(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)



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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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