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Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of fair value measurements of securities measured at fair value on a recurring basis

($ in thousands)		Fair Values at 09/30/2020				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	6,867			$	-			$	6,867			$	-
Mortgage-backed securities			109,193				-				109,193				-
State and political subdivisions			11,755				-				11,755				-
Other corporate securities			2,500				-				2,500				-
Interest rate contracts - assets			9,169				-				9,169				-
Interest rate contracts - liabilities			(9,169	)			-				(9,169	)			-
Forward contracts			(197	)			(197	)			-				-
IRLCs			290				-				-				290

($ in thousands)		Fair Values at 12/31/2019				(Level 1)				(Level 2)				(Level 3)
U.S. Treasury and Government Agencies		$	12,202			$	-			$	12,202			$	-
Mortgage-backed securities			78,182				-				78,182				-
State and political subdivisions			10,564				-				10,564				-
Interest rate contracts - assets			2,846				-				2,846				-
Interest rate contracts - liabilities			(2,846	)			-				(2,846	)			-
Forward contracts			(32	)			(32	)			-				-
IRLCs			55				-				-				55

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

($ in thousands)		Fair values at 09/30/2020				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	3,604			$	-			$	-			$	3,604
Mortgage servicing rights			8,535				-				-				8,535
IRLCs			290				-				-				290

($ in thousands)		Fair values at 12/31/2019				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	2,527			$	-			$	-			$	2,527
Mortgage servicing rights			5,084				-				-				5,084
IRLCs			55				-				-				55

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

		Fair value at								Range (weighted-
($ in thousands)		9/30/2020				Valuation technique		Unobservable inputs		average)
Collateral-dependent impaired loans		$	3,604			Market comparable properties		Comparability adjustments (%)			0 - 30% (21%)
Mortgage servicing rights			8,535			Discounted cash flow		Discount Rate			8.44	%
								Constant prepayment rate			18.42	%
IRLCs			290			Discounted cash flow		P&I earnings credit			0.15	%
								T&I earnings credit			0.22	%
								Inflation for cost of servicing			1.50	%

		Fair Value at								Range (weighted-
($ in thousands)		12/31/2019				Valuation technique		Unobservable inputs		average)
Collateral-dependent impaired loans		$	2,527			Market comparable properties		Comparability adjustments (%)			2 - 62% (28%)
Mortgage servicing rights			5,084			Discounted cash flow		Discount Rate			9.36	%
								Constant prepayment rate			10.19	%
IRLCs			55			Discounted cash flow		P&I earnings credit			1.78	%
								T&I earnings credit			1.93	%
								Inflation for cost of servicing			1.50	%

Schedule of estimated fair values of company's financial instruments

($ in thousands)		Carrying								Fair value measurements using
September 30, 2020		amount				Fair value				(Level 1)				(Level 2)				(Level 3)
Financial assets
Cash and due from banks		$	94,641			$	94,641			$	94,641			$	-			$	-
Interest bearing time deposits			8,956				8,956				8,956				-				-
Loans held for sale			13,943				14,507				-				14,507				-
Loans, net of allowance for loan losses			874,057				866,131				-				-				866,131
Federal Reserve and FHLB Bank stock, at cost			5,303				5,303				-				5,303				-
Interest receivable			4,159				4,159				-				4,159				-
Financial liabilities
Deposits		$	1,014,015			$	1,016,552			$	763,587			$	252,965			$	-
Short term borrowings			20,710				20,710				-				20,710				-
FHLB advances			8,000				8,316				-				8,316				-
Trust preferred securities			10,310				8,261				-				8,261				-
Interest payable			946				946				-				946				-

($ in thousands)		Carrying								Fair value measurements using
December 31, 2019		amount				Fair value				(Level 1)				(Level 2)				(Level 3)
Financial assets
Cash and due from banks		$	27,064			$	27,064			$	27,064			$	-			$	-
Loans held for sale			7,258				7,419				-				7,419				-
Loans, net of allowance for loan losses			816,755				804,808				-				-				804,808
Federal Reserve and FHLB Bank stock, at cost			4,648				4,648				-				4,648				-
Interest receivable			3,106				3,106				-				3,106				-
Financial liabilities
Deposits		$	840,219			$	840,272			$	582,466			$	257,806			$	-
Repurchase agreements			12,945				12,945				-				12,945				-
FHLB advances			16,000				16,149				-				16,149				-
Trust preferred securities			10,310				9,201				-				9,201				-
Interest payable			1,191				1,191				-				1,191				-

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=117815213&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

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=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
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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
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

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