Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

	Fair Value Measurements at:
	(Dollars in Thousands)						(Dollars in Thousands)
	March 31, 2019						December 31, 2018
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Securities available-for-sale
U. S. government agencies and government sponsored entities		—	$	7,963		—		—	$	8,440		—
Agency mortgage-backed securities-residential		—		19,602		—		—		20,300		—
State and municipal		—		16,422		—		—		16,728		—
Trust preferred security		—		—		1,640		—		—		1,630
Corporate bonds		—		—		—		—		—		—
Total investment securities	$	—	$	43,987	$	1,640	$	—	$	45,468	$	1,630

Schedule of reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

	Trust Preferred Security
	2019		2018
Balance of recurring Level 3 assets at January 1	$	1,630	$	1,440
Total gains or (losses) for the period included in other comprehensive income		10		120
Balance of recurring Level 3 assets at March 31	$	1,640	$	1,560

Schedule of carrying amount and estimated fair values of financial instruments

			Fair Value Measurements at
			March 31, 2019
	Carrying Amount		Level 1		Level 2		Level 3		Total
Financial Assets
Cash and due from financial institutions	$	6,998	$	6,998	$	—	$	—	$	6,998
Federal funds sold and interest-bearing deposits in other financial institutions		17,337		17,337		—		—		17,337
Available-for-sale-securities		45,627		—		43,987		1,640		45,627
Loans, net of allowance		373,523		—		—		371,482		371,482
Loans held for sale		117		—		119		—		119
Accrued interest receivable		1,651		11		217		1,423		1,651
Federal Home Loan Bank stock		2,065		—		—		—		N/A
Financial Liabilities
Demand and savings deposits	$	244,539	$	244,539	$	—	$	—	$	244,539
Time deposits		137,262		—		136,373		—		136,373
FHLB advances		30,000		—		29,965		—		29,965
Subordinated debentures		5,000		—		—		2,722		2,722
Accrued interest payable		421		20		344		57		421

			Fair Value Measurements at
			December 31, 2018
	Carrying Amount		Level 1		Level 2		Level 3		Total
Financial Assets
Cash and due from financial institutions	$	8,875	$	8,875	$	—	$	—	$	8,875
Federal funds sold and interest-bearing deposits in other financial institutions		26,010		26,010		—		—		26,010
Available-for-sale-securities		47,098		—		45,468		1,630		47,098
Loans, net of allowance		367,171		—		—		364,862		364,862
Loans held for sale		269		—		274		—		274
Accrued interest receivable		1,683		13		255		1,415		1,683
Federal Home Loan Bank stock		2,065		—		—		—		N/A
Financial Liabilities
Demand and savings deposits	$	247,768	$	247,768	$	—	$	—	$	247,768
Time deposits		140,841		—		138,869		—		138,869
FHLB advances		30,000		—		29,837		—		29,837
Subordinated debentures		5,000		—		—		2,722		2,722
Accrued interest payable		410		17		339		54		410