XML 89 R42.htm IDEA: XBRL DOCUMENT
v3.19.3

Disclosures about Fair Value Measurements and Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Disclosures about Fair Value Measurements and Financial Instruments |
Schedule of assets and liability measured and recorded on the Consolidated Balance Sheets | 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 September 30, 2019 and December 31, 2018, by level within the fair value hierarchy (in thousands).
|  | Fair Value Measurements at September 30, 2019
|  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Equity securities |  | $ | 354 |  | $ | 354 |  | $ | — |  | $ | —
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
US Agency |  |  | 6,280 |  |  | — |  |  | 6,280 |  |  | —
US Agency mortgage-backed securities |  |  | 85,490 |  |  | — |  |  | 85,490 |  |  | —
Municipal |  |  | 14,415 |  |  | — |  |  | 14,415 |  |  | —
Corporate bonds |  |  | 37,215 |  |  | — |  |  | 37,215 |  |  | —
Fair value swap asset |  |  | 1,453 |  |  | — |  |  | 1,453 |  |  | —
Fair value swap liability |  |  | (1,453) |  |  | — |  |  | (1,453) |  |  | —
|  | Fair Value Measurements at December 31, 2018
|  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
US Agency |  | $ | 7,529 |  | $ | — |  | $ | 7,529 |  | $ | —
US Agency mortgage-backed securities |  |  | 89,527 |  |  | — |  |  | 89,527 |  |  | —
Municipal |  |  | 13,181 |  |  | — |  |  | 13,181 |  |  | —
Corporate bonds |  |  | 36,494 |  |  | — |  |  | 36,494 |  |  | —
Fair value swap asset |  |  | 257 |  |  | — |  |  | 257 |  |  | —
Fair value swap liability |  |  | (257) |  |  | — |  |  | (257) |  |  | —
Schedule of assets measured and recorded at fair value on a non-recurring basis | 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, 2019
|  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Impaired loans |  | $ | 733 |  | $ | — |  | $ | — |  | $ | 733
Other real estate owned |  |  | 57 |  |  | — |  |  | — |  |  | 57
|  | 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
September 30, 2019 |  | Estimate |  | Techniques |  | Input |  | (Wgtd Avg)
Impaired loans |  | $ | 674 |  | Appraisal of collateral (1) |  | Appraisal adjustments(2) |  | 0% to 100% (11%)
|  |  | 59 |  | Discounted cash flows |  | Probability of loss adjustment (3) |  | 15% (15%)
Other real estate owned |  |  | 57 |  | Appraisal of collateral (1) |  | Appraisal adjustments (2) Liquidation expenses |  | 0% to 44% (35%) 12% to 114% (28%)
|  | 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) |  | Appraisal adjustments(2) |  | 100% (100%)
Other real estate owned |  |  | 157 |  | Appraisal of collateral (1) |  | Appraisal adjustments (2) Liquidation expenses |  | 0% to 39% (8%) 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. Also includes qualitative adjustments by management and estimated liquidation expenses.
| (2) |  | Appraisals may be adjusted by management for qualitative factors such as economic conditions.
| (3) |  | Includes qualitative adjustments by management based on circumstances specific to each loan.
Schedule of estimated fair value and recorded carrying value | The estimated fair values based on US GAAP measurements and recorded carrying values at September 30, 2019 and December 31, 2018, for the remaining financial instruments not required to be measured or reported at fair value were as follows (in thousands):
|  | September 30, 2019
|  | Carrying |  | Fair |  |  |  |  |  |  |  |  |
|  | Value |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
FINANCIAL ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities – HTM |  | $ | 39,299 |  | $ | 40,813 |  | $ | — |  | $ | 37,849 |  | $ | 2,964
Loans held for sale |  |  | 5,949 |  |  | 6,102 |  |  | 6,102 |  |  | — |  |  | —
Loans, net of allowance for loan loss and unearned income |  |  | 860,788 |  |  | 862,163 |  |  | — |  |  | — |  |  | 862,163
FINANCIAL LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits with no stated maturities |  | $ | 666,977 |  | $ | 655,398 |  | $ | — |  | $ | — |  | $ | 655,398
Deposits with stated maturities |  |  | 303,012 |  |  | 304,249 |  |  | — |  |  | — |  |  | 304,249
All other borrowings (1) |  |  | 76,086 |  |  | 76,664 |  |  | — |  |  | — |  |  | 76,664
|  | December 31, 2018
|  | Carrying |  | Fair |  |  |  |  |  |  |  |  |
|  | Value |  | 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 no stated maturities |  | $ | 671,666 |  | $ | 627,323 |  | $ | — |  | $ | — |  | $ | 627,323
Deposits with stated maturities |  |  | 277,505 |  |  | 277,010 |  |  | — |  |  | — |  |  | 277,010
All other borrowings (1) |  |  | 67,148 |  |  | 69,692 |  |  | — |  |  | — |  |  | 69,692

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=117815213&loc=d3e19207-110258 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&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=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=118260190&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) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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://www.xbrl.org/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration