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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Measurements [Abstract]

Fair Value Assets Measured On Recurring Basis


			Carrying Value at June 30, 2020 (in thousands)
Description	Balance as of June 30, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
US Treasuries	$2,038		$        -		$2,038		$       -
US agency obligations	26,102		-		26,102		-
Mortgage-backed securities	9,424		-		9,424		-
Municipals	13,247		-		13,247		-
Corporates	4,261		-		4,261		-

Total available-for-sale securities	$55,072		$       -		$55,072		$       -
			Carrying Value at December 31, 2019 (in thousands)
Description	Balance as of December 31, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
US Treasuries	$1,964		$		$1,964		$
US agency obligations	32,108		-		32,108		-
Mortgage-backed securities	10,264		-		10,264		-
Municipals	11,222		-		11,222		-
Corporates	4,097		-		4,097		-

Total available-for-sale securities	$59,655		$       -		$59,655		$       -



Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis

		Carrying Value at June 30, 2020
Description	Balance as of June 30, 2020	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Impaired loans*	$2,486	$     -	$          -	$2,486
Other real estate owned	1,616	-	-	1,616

*  Includes loans charged down to the net realizable value of the collateral.


		Carrying Value at December 31, 2019
Description	Balance as of December 31, 2019	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Impaired loans*	$1,239	$      -	$       -	$1,239
Other real estate owned	2,339	-	-	2,339

*  Includes loans charged down to the net realizable value of the collateral.

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3


	Quantitative information about Level 3 Fair Value Measurements for June 30, 2020 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$2,486		Discounted appraised value	Selling cost	0% - 10% (8%)
				Discount for lack of marketability and age of appraisal	0% - 20% (6%)

OREO	1,616		Discounted appraised value	Selling cost	0% - 10% (6%)
				Discount for lack of marketability and age of appraisal	0% - 25% (15%)

(1) Weighted based on the relative value of the instruments.


	Quantitative information about Level 3 Fair Value Measurements for December 31, 2019 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$1,239		Discounted appraised value	Selling cost	0% - 10%  (8%)
				Discount for lack of marketability and age of appraisal	0% - 20%  (6%)

OREO	2,339		Discounted appraised value	Selling cost	0% - 10%  (6%)
				Discount for lack of marketability and age of appraisal	0% - 25%  (15%)

(1) Weighted based on the relative value of the instruments.

Fair Value Carrying And Notional Amounts



			Fair Value Measurements at June 30, 2020 using
				Quoted Prices		Significant
				in Active		Other		Significant
				Markets for		Observable		Unobservable
	Carrying			Identical Assets		Inputs		Inputs
Assets	Amounts			(Level 1)		(Level 2)		(Level 3)		Balance
   Cash and due from banks	$30,669			$30,669		$      -		$      -		$30,669
   Fed funds sold	60,131			60,131		-		-		60,131
Securities
      Available-for-sale	55,072			-		55,072		-		55,072
      Held-to-maturity	3,679			-		4,283		-		4,283
   Restricted stock	1,551					1,551		-		1,551
   Loans, net (1)	623,564			-		-		623,253		623,253
   Loans held for sale	6,098			-		6,098		-		6,098
   Interest receivable	2,505			-		2,505		-		2,505
   BOLI	16,387			-		16,387		-		16,387

Liabilities
   Deposits	$745,986			$      -		$748,299		$      -		$748,299
   Capital notes	7,275			-		6,456		-		6,456
   Interest payable	172			-		172		-		172




			Fair Value Measurements at December 31, 2019 using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
Assets	Amounts		(Level 1)		(Level 2)		(Level 3)		Balance
   Cash and due from banks	$30,794		$30,794		$      -		$      -		$30,794
   Fed funds sold	8,317		8,317				-		8,317
Securities
      Available-for-sale	59,655		-		59,655		-		59,655
      Held-to-maturity	3,688		-		3,861		-		3,861
   Restricted stock	1,506		-		1,506				1,506
   Loans, net (1)	573,274		-		-		569,850		569,850
   Loans held for sale	4,221		-		4,221		-		4,221
   Interest receivable	1,866		-		1,866		-		1,866
   BOLI	13,686		-		13,686		-		13,686

Liabilities
   Deposits	$649,459		$      -		$651,479		$      -		$651,479
Capital notes	5,000		-		4,795		-		4,795
   Interest payable	173		-		173		-		173

(1) Carrying amount is net of unearned income and the Allowance.

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)
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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).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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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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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

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-Publisher FASB
-Name Accounting Standards Codification
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