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Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value of Assets and Liabilities [Abstract]

Summary of fair value measurements of assets measured at fair value on a recurring basis

Fair Value Measurements Using:
($ in thousands) Available for Sale Securities:		March 31, 2019				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	18,300			$	-			$	18,300			$	-
Mortgage-backed securities			66,045				-				66,045				-
State and political subdivisions			11,457				-				11,457				-
Interest rate contracts - assets			1,190				-				1,190				-
Interest rate contracts - liabilities			(1,190	)			-				(1,190	)			-

Fair Value Measurements Using:
($ in thousands) Available for Sale Securities:		December 31, 2018				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	18,670			$	-			$	18,670			$	-
Mortgage-backed securities			60,943				-				60,943				-
State and political subdivisions			11,356				-				11,356				-
Interest rate contracts - assets			687				-				687				-
Interest rate contracts - liabilities			(687	)			-				(687	)			-

Summary of fair value measurements of assets measured at fair value on a nonrecurring basis

($ in thousands) Description		Fair Values at March 31, 2019				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	885			$	-			$	-			$	885
Mortgage Servicing Rights			5,803				-				-				5,803

($ in thousands) Description		Fair Values at December 31, 2018				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	1,027			$	-			$	-			$	1,027
Mortgage Servicing Rights			3,191				-				-				3,191

Summary of quantitative information about unobservable inputs used in recurring and nonrecurring

($ in thousands)		Fair Values at March 31,  2019				Valuation Technique		Unobservable Inputs		Range (weighted- average)
Collateral-dependent impaired loans		$	885			Market comparable properties		Comparability adjustments (%)		12 - 35% (16%)
Mortgage servicing rights			5,803			Discounted cash flow		Discount Rate		9.80%
								Constant prepayment rate		9.14%
								P&I earnings credit		2.50%
								T&I earnings credit		2.55%
								Inflation for cost of servicing		1.50%

($ in thousands)		Fair Values at December 31, 2018				Valuation Technique		Unobservable Inputs		Range (weighted- average)
Collateral-dependent impaired loans		$	1,027			Market comparable properties		Comparability adjustments (%)		20 - 35% (29%)
Mortgage servicing rights			3,191			Discounted cash flow		Discount Rate		10.30%
								Constant prepayment rate		7.02%
								P&I earnings credit		2.51%
								T&I earnings credit		3.02%
								Inflation for cost of servicing		1.50%

Summary of estimated fair values of company's financial instruments

		March 31, 2019
		Carrying				Fair				Fair Value Measurements Using
($ in thousands)		Amount				value				(Level 1)				(Level 2)				(Level 3)
Financial assets
Cash and due from banks		$	62,962			$	62,962			$	62,962			$	-			$	-
Loans held for sale			4,346				4,470				-				4,470				-
Loans, net of allowance for loan losses			774,402				772,283				-				-				772,283
Federal Reserve and FHLB Bank stock, at cost			4,123				4,123				-				4,123				-
Interest receivable			3,123				3,123				-				3,123				-
Financial liabilities
Deposits		$	827,658			$	826,659			$	569,116			$	257,543			$	-
Repurchase agreements			12,255				12,255				-				12,255				-
FHLB advances			24,000				24,008				-				24,008				-
Trust preferred securities			10,310				9,731				-				9,731				-
Interest payable			1,123				1,123				-				1,123				-

		December 31,  2018
		Carrying				Fair				Fair Value Measurments Using
($ in thousands)		Amount				value				(Level 1)				(Level 2)				(Level 3)
Financial assets
Cash and due from banks		$	48,363			$	48,363			$	48,363			$	-			$	-
Loans held for sale			4,445				4,589				-				4,589				-
Loans, net of allowance for loan losses			763,716				757,469				-				-				757,469
Federal Reserve and FHLB Bank stock, at cost			4,123				4,123				-				4,123				-
Interest receivable			2,822				2,822				-				2,822				-
Financial liabilities
Deposits		$	802,552			$	799,726			$	561,090			$	238,636			$	-
Repurchase agreements			15,184				15,184				-				15,184				-
FHLB advances			16,000				15,848				-				15,848				-
Trust preferred securities			10,310				10,233				-				10,233				-
Interest payable			909				909				-				909				-

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-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

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
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