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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Assets Measured On Recurring Basis


			Carrying Value at September 30, 2020 (in thousands)
Description	Balance as of September 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	$2,033		$        -		$2,033		$       -
US agency obligations	40,929		-		40,929		-
Mortgage-backed securities	8,461		-		8,461		-
Municipals	18,906		-		18,906		-
Corporates	5,299		-		5,299		-

Total available-for-sale securities	$75,628		$       -		$75,628		$       -

IRLCs - asset	301		-		-		301

Total assets at fair value	$75,929		$      -		$75,628		$301

IRLCs - liability	5		-		-		5

Total liabilities at fair value	$5		$      -		$       -		$5

			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 September 30, 2020
Description	Balance as of September 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*	$2,399	$     -	$          -	$2,399
Other real estate owned	1,405	-	-	1,405

*  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.

Fair Value Carrying And Notional Amounts



			Fair Value Measurements at September 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	$30,324			$30,324		$      -		$      -		$30,324
   Fed funds sold	64,720			64,720		-		-		64,720
Securities
      Available-for-sale	75,628			-		75,628		-		75,628
      Held-to-maturity	3,675			-		4,283		-		4,283
   Restricted stock	1,551					1,551		-		1,551
   Loans, net (1)	616,581			-		-		614,896		614,896
   Loans held for sale	10,232			-		10,232		-		10,232
   Interest receivable	2,558			-		2,558		-		2,558
   BOLI	16,489			-		16,489		-		16,489
   Derivatives - IRLCs	301			-		-		301		301

Liabilities
   Deposits	$763,933			$      -		$765,491		$      -		$765,491
   Capital notes	10,026			-		8,949		-		8,949
   Interest payable	140			-		140		-		140
   Derivatives – IRLCs	5			-		-		5		5




			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.

Fair Value, Recurring [Member]

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


	Quantitative information about Level 3 Fair Value Measurements for September 30, 2020 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
IRLCs - asset	$301		Market approach	Range of pull through rate	70% - 100%  (85%)

Liabilities
IRLCs - liability	$5		Market approach	Range of pull through rate	70% - 100%  (85%)

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



Fair Value, Nonrecurring [Member]

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


	Quantitative information about Level 3 Fair Value Measurements for September 30, 2020 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$2,399		Discounted appraised value	Selling cost	0% - 10% (8%)
				Discount for lack of marketability and age of appraisal	0% - 20% (6%)

OREO	1,405		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.

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- 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.

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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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