SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 14 SUBSEQUENT EVENTS: Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. A group of classified and underperforming loans, with outstanding contractual balances of $5.1 million, were under agreement to be sold in June 2019 with settlement effective July 3, 2019. These loans are shown in Loans held for sale on the face of the balance sheet as of June 30, 2019, at a fair value of $4.4 million. Included in these loans were nonaccrual loans totaling $2.8 million. On July 30, 2019 the bank entered into an agreement, with an unrelated third party, to sell the land and building housing the branch site in Lebanon Virginia. This transaction is expected to close prior to August 31, 2019 with the bank providing financing to the purchaser. At closing the bank will execute a 15 year lease agreement to maintain its current operations at this site. This transaction is expected to result in a gain of approximately $790 thousand. In addition, the lease transaction will result in the recognition of a right-to-use asset and a lease obligation liability of approximately $1.2 million, each. Management has reviewed events occurring through the date the financial statements were available to be issued and no other subsequent events occurred requiring accrual or disclosure.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2019

NOTE 14 SUBSEQUENT EVENTS:

Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date.

A group of classified and underperforming loans, with outstanding contractual balances of $5.1 million, were under agreement to be sold in June 2019 with settlement effective July 3, 2019. These loans are shown in Loans held for sale on the face of the balance sheet as of June 30, 2019, at a fair value of $4.4 million. Included in these loans were nonaccrual loans totaling $2.8 million.

On July 30, 2019 the bank entered into an agreement, with an unrelated third party, to sell the land and building housing the branch site in Lebanon Virginia. This transaction is expected to close prior to August 31, 2019 with the bank providing financing to the purchaser. At closing the bank will execute a 15 year lease agreement to maintain its current operations at this site. This transaction is expected to result in a gain of approximately $790 thousand. In addition, the lease transaction will result in the recognition of a right-to-use asset and a lease obligation liability of approximately $1.2 million, each.

Management has reviewed events occurring through the date the financial statements were available to be issued and no other subsequent events occurred requiring accrual or disclosure.