FAIR VALUES (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Assets And Liabilities Measured at Fair Value

Assets and liabilities measured at fair value are as follows as of December 31, 2018 (for purpose of this table the impaired loans are shown net of the related allowance):

(Dollars are in thousands)		Quoted market price in active markets  (Level 1)		Significant other observable inputs  (Level 2)		Significant unobservable inputs (Level 3)
(On a recurring basis)  Available for sale investments
U.S. Government Agencies	$	-	$	19,389	$	-
Taxable municipals		-		4,313		-
Corporate bonds		-		5,320		-
Mortgage backed securities		-		30,385		-
(On a non-recurring basis)  Other real estate owned		-		-		5,937
Impaired loans:
Real estate secured:
Commercial		-		-		2,282
Construction and land development		-		-		114
Residential 1-4 family		-		-		3,179
Multifamily		-		-		75
Farmland		-		-		1,906
Commercial		-		-		96
Agriculture		-		-		-
Consumer installment loans		-		-		6
All other loans		-		-		-
Total	$	-	$	59,407	$	13,595

Assets and liabilities measured at fair value are as follows as of December 31, 2017 (for purpose of this table the impaired loans are shown net of the related allowance):

(Dollars are in thousands)		Quoted market price in active markets (Level 1)		Significant other observable inputs  (Level 2)		Significant unobservable inputs (Level 3)
(On a recurring basis)  Available for sale investments
U.S. Government Agencies	$	-	$	23,844	$	-
Taxable municipals		-		4,397		-
Corporate bonds		-		5,579		-
Mortgage backed securities		-		37,268		-
(On a non-recurring basis) Other real estate owned		-		-		6,859
Impaired loans:
Real estate secured:
Commercial		-		-		4,650
Construction and land development		-		-		424
Residential 1-4 family		-		-		3,916
Multifamily		-		-		281
Farmland		-		-		1,399
Commercial		-		-		704
Agriculture		-		-		12
Consumer installment loans		-		-		8
All other loans		-		-		-
Total	$	-	$	71,088	$	18,253

Schedule of Significant Unobservable Inputs In Level 3 Assets

For Level 3 assets measured at fair value on a recurring or non-recurring basis as of December 31, 2018 and 2017, the significant unobservable inputs used in the fair value measurements were as follows:

(Dollars in thousands)		Fair Value at December 31, 2018		Fair Value at  December 31,  2017	Valuation Technique	Significant Unobservable Inputs	General Range of Significant Unobservable Input Values
Impaired Loans	$	7,658	$	11,394	Appraised Value/Discounted Cash Flows/Market Value of Note	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell	0 – 18%
Other Real Estate Owned	$	5,937	$	6,859	Appraised Value/Comparable Sales/Other Estimates from Independent Sources	Discounts to reflect current market conditions and estimated costs to sell	0 – 18%

Estimated Fair Value of Financial Instruments

The carrying amount and fair value of the Company’s financial instruments that are not required to be measured or reported at fair value on a recurring basis are as follows:

						Fair Value Measurements
(Dollars are in thousands)		Carrying  Amount		Fair  Value		Quoted market price in active markets (Level 1)		Significant other observable inputs  (Level 2)		Significant unobservable inputs  (Level 3)
December 31, 2018
Financial Instruments – Assets
Net Loans	$	541,760	$	534,425	$	-	$	526,767	$	7,658
Financial Instruments – Liabilities
Time Deposits		258,850		258,671		-		258,671		-
FHLB Advances		7,000		7,215		-		7,215		-
December 31, 2017
Financial Instruments – Assets
Net Loans	$	506,812	$	506,608	$	-	$	495,214	$	11,394
Financial Instruments – Liabilities
Time Deposits		272,330		272,352		-		272,352		-
FHLB Advances		7,558		7,794		-		7,794		-