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Disclosures about Fair Value Measurements and Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables present the assets and liability measured and recorded on the Consolidated Balance Sheets on a reoccurring basis at their fair value as of September 30, 2018 and December 31, 2017, by level within the fair value hierarchy (in thousands).

			Fair Value Measurements at September 30, 2018
			Total					(Level 1)					(Level 2)					(Level 3)
US Agency securities			$	6,423				$	—				$	6,423				$	—
US Agency mortgage-backed securities				84,999					—					84,999					—
Municipal securities				10,766					—					10,766					—
Corporate bonds				36,565					—					36,565					—
Fair value swap asset				812					—					812					—
Fair value swap liability				(812	)				—					(812	)				—

			Fair Value Measurements at December 31, 2017
			Total					(Level 1)					(Level 2)					(Level 3)
US Agency securities			$	6,572				$	—				$	6,572				$	—
US Agency mortgage-backed securities				79,746					—					79,746					—
Municipal securities				7,036					—					7,036					—
Corporate bonds				35,784					—					35,784					—
Fair value swap asset				92					—					92					—
Fair value swap liability				(92	)				—					(92	)				—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

Assets measured and recorded at fair value on a non-recurring basis are summarized below (in thousands, except range data):

			Fair Value Measurements at September 30, 2018
			Total					(Level 1)					(Level 2)					(Level 3)
Impaired loans			$	11				$	—				$	—				$	11
Other real estate owned				163					—					—					163

			Fair Value Measurements at December 31, 2017
			Total					(Level 1)					(Level 2)					(Level 3)
Impaired loans			$	851				$	—				$	—				$	851
Other real estate owned				18					—					—					18

Quantitative Information About Level 3 Fair Value Measurements

September 30, 2018

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range (Wgtd Avg)

Impaired loans

$

11

Appraisal of collateral(1),(3)

Appraisal adjustments(2)

0% (0%)

Other real estate owned

163

Appraisal of collateral(1),(3)

Appraisal adjustments(2) Liquidation expenses

0% to 32% (6%) 21% to 195% (42%)

Quantitative Information About Level 3 Fair Value Measurements

December 31, 2017

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range (Wgtd Avg)

Impaired loans

$

851

Appraisal of collateral(1),(3)

Appraisal adjustments(2)

21% to 75% (54%)

Other real estate owned

18

Appraisal of collateral(1),(3)

Appraisal adjustments(2) Liquidation expenses

16% to 64% (29%) 2% to 206% (79%)

(1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions.

(3) Includes qualitative adjustments by management and estimated liquidation expenses.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The estimation methodologies used, the estimated fair values based on US GAAP measurements, and recorded book balances at September 30, 2018 and December 31, 2017, for financial instruments not recorded at fair value on a reoccurring basis were as follows (in thousands):

			September 30, 2018
			Carrying  Value					Fair Value					(Level 1)					(Level 2)					(Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents			$	31,234				$	31,234				$	31,234				$	—				$	—
Investment securities – HTM				38,673					37,345					—					34,510					2,835
Regulatory stock				7,135					7,135					7,135					—					—
Loans held for sale				1,041					1,075					1,075					—					—
Loans, net of allowance for loan loss and unearned income				873,894					852,664					—					—					852,664
Accrued interest income receivable				4,007					4,007					4,007					—					—
Bank owned life insurance				38,260					38,260					38,260					—					—
FINANCIAL LIABILITIES:
Deposits with no stated maturities			$	672,792				$	672,792				$	672,792				$	—				$	—
Deposits with stated maturities				271,421					270,767					—					—					270,767
Short-term borrowings				61,254					61,254					61,254					—					—
All other borrowings				62,962					65,026					—					—					65,026
Accrued interest payable				2,120					2,120					2,120					—					—

			December 31, 2017
			Carrying Value					Fair Value					(Level 1)					(Level 2)					(Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents			$	34,188				$	34,188				$	34,188				$	—				$	—
Investment securities – HTM				38,752					38,811					—					35,859					2,952
Regulatory stock				6,800					6,800					6,800					—					—
Loans held for sale				3,125					3,173					3,173					—					—
Loans, net of allowance for loan loss and unearned income				879,419					873,784					—					—					873,784
Accrued interest income receivable				3,603					3,603					3,603					—					—
Bank owned life insurance				37,860					37,860					37,860					—					—
FINANCIAL LIABILITIES:
Deposits with no stated maturities			$	688,648				$	688,648				$	688,648				$	—				$	—
Deposits with stated maturities				259,297					260,153					—					—					260,153
Short-term borrowings				49,084					49,084					49,084					—					—
All other borrowings				66,617					69,684					—					—					69,684
Accrued interest payable				1,754					1,754					1,754					—					—

X

- 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=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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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=109250915&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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