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Disclosures about Fair Value Measurements and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Disclosures About Fair Value Of Financial Instruments [Abstract]

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

The following table presents the assets and liability measured and recorded on the Consolidated Balance Sheets on a recurring basis at their fair value as of March 31, 2019 and December 31, 2018, by level within the fair value hierarchy (in thousands).

		Fair Value Measurements at March 31, 2019
		Total				(Level 1)				(Level 2)				(Level 3)
US Agency securities		$	7,544			$	—			$	7,544			$	—
US Agency mortgage-backed securities			95,252				—				95,252				—
Municipal securities			13,416				—				13,416				—
Corporate bonds			37,813				—				37,813				—
Fair value swap asset			210				—				210				—
Fair value swap liability			(210	)			—				(210	)			—

		Fair Value Measurements at December 31, 2018
		Total				(Level 1)				(Level 2)				(Level 3)
US Agency securities		$	7,529			$	—			$	7,529			$	—
US Agency mortgage-backed securities			89,527				—				89,527				—
Municipal securities			13,181				—				13,181				—
Corporate bonds			36,494				—				36,494				—
Fair value swap asset			257				—				257				—
Fair value swap liability			(257	)			—				(257	)			—

Fair Value Measurements, Nonrecurring [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 March 31, 2019
		Total				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	—			$	—			$	—			$	—
Other real estate owned			18				—				—				18

		Fair Value Measurements at December 31, 2018
		Total				(Level 1)				(Level 2)				(Level 3)
Impaired loans		$	—			$	—			$	—			$	—
Other real estate owned			157				—				—				157

Quantitative Information About Level 3 Fair Value Measurements

Fair Value

Valuation

Unobservable

Range

March 31, 2019

Estimate

Techniques

Input

(Wgtd Avg)

Impaired loans

$

—

Appraisal of collateral(1),(3)

Appraisal adjustments(2)

100% (100)%

Other real estate owned

18

Appraisal of collateral(1),(3)

Appraisal adjustments(2)

43% to 44% (44)%

Liquidation expenses

21% to 24% (21)%

Quantitative Information About Level 3 Fair Value Measurements

Fair Value

Valuation

Unobservable

Range

December 31, 2018

Estimate

Techniques

Input

(Wgtd Avg)

Impaired loans

$

—

Appraisal of collateral(1),(3)

Appraisal adjustments(2)

100% (100)%

Other real estate owned

157

Appraisal of collateral(1),(3)

Appraisal adjustments(2)

0% to 39% (8)%

Liquidation expenses

21% to 195% (40)%

(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 estimated fair values based on US GAAP measurements and recorded carrying values at March 31, 2019 and December 31, 2018, for the remaining financial instruments not recorded at fair value on a recurring basis were as follows (in thousands):

		March 31, 2019
		Carrying Value				Fair Value				(Level 1)				(Level 2)				(Level 3)
FINANCIAL ASSETS:
Investment securities – HTM		$	40,528			$	40,730			$	—			$	37,807			$	2,923
Loans held for sale			619				658				658				—				—
Loans, net of allowance for loan loss and unearned income			854,408				844,344				—				—				844,344
FINANCIAL LIABILITIES:
Deposits with stated maturities		$	287,671			$	287,582			$	—			$	—			$	287,582
All other borrowings(1)			69,007				72,010				—				—				72,010

		December 31, 2018
		Carrying Value				Fair Value				(Level 1)				(Level 2)				(Level 3)
FINANCIAL ASSETS:
Investment securities – HTM		$	40,760			$	40,324			$	—			$	37,398			$	2,926
Loans held for sale			847				871				871				—				—
Loans, net of allowance for loan loss and unearned income			853,611				836,122				—				—				836,122
FINANCIAL LIABILITIES:
Deposits with stated maturities		$	277,505			$	277,010			$	—			$	—			$	277,010
All other borrowings(1)			67,148				69,692				—				—				69,692

(1) All other borrowings include advances from Federal Home Loan Bank, guaranteed junior subordinated deferrable interest debentures, and subordinated debt.

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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

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)
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-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

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-Name Accounting Standards Codification
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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

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
-Topic 820
-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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