FAIR VALUES (Table)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Summary of assets and liabilities measured at fair value

Assets measured at fair value on a recurring basis are as follows. There were no liabilities measured at fair value on a recurring basis.

(Dollars are in thousands)		Quoted market				Significant
		price in active		Significant other		unobservable
		markets		observable inputs		inputs
		(Level 1)		(Level 2)		(Level 3)
June 30, 2019
Available-for-sale investments
U.S. Government Agencies	$	-	$	17,717	$	-
Taxable municipals		-		4,461		-
Corporate bonds		-		5,519		-
Mortgage backed securities		-		28,701		-
Total	$	-	$	56,398	$	-
December 31, 2018
Available-for-sale investments
U.S. Government Agencies	$	-	$	19,389	$	-
Taxable municipals		-		4,313		-
Corporate bonds		-		5,320		-
Mortgage backed securities		-		30,385		-
Total	$	-	$	59,407	$	-

There were no liabilities measured at fair value on a non-recurring basis.

(Dollars are in thousands)			Quoted market						Significant
			price in active			Significant other			unobservable
			markets			observable inputs			inputs
			(Level 1)			(Level 2)			(Level 3)
June 30, 2019
Other real estate owned	$	-		$	-		$	4,024
Impaired loans			-			-			5,941
Total	$	-		$	-		$	9,965
December 31, 2018
Other real estate owned	$	-		$	-		$	5,937
Impaired loans			-			-			7,658
Total	$	-		$	-		$	13,595

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 June 30, 2019, the significant unobservable inputs used in the fair value measurements were as follows:

						General
						Range of
		Fair Value			Significant	Significant
(Dollars in		at June 30,		Valuation	Unobservable	Unobservable
thousands)		2019		Technique	Inputs	Input Values
Impaired Loans	$	5,941	$	Appraised	Discounts to reflect	0–18%
				Value/Discounted	current market
				Cash	conditions, ultimate
				Flows/Market	collectability, and
				Value of Note	estimated costs to
					sell
Other Real Estate	$	4,024	$	Appraised	Discounts to reflect	0–18%
Owned				Value/Comparable	current market
				Sales/Other	conditions and
				Estimates from	estimated costs to
				Independent	sell
				Sources

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
						Quoted
						market			Significant
						price in			other		Significant
						active			observable		unobservable
(Dollars are in thousands)		Carrying		Fair		markets			inputs		inputs
		Amount		Value		(Level 1)			(Level 2)		(Level 3)
June 30, 2019
Financial Instruments – Assets
Net Loans	$	545,943	$	538,134	$		-	$	532,195	$	5,939
Financial Instruments –
Liabilities
Time Deposits		255,714		259,495			-		259,495		-
FHLB Advances		5,000		5,079			-		5,079		-
Trust Preferred Securities		16,496		13,756			-		13,756		-
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		-
Trust Preferred Securities		16,496		14,425			-		14,425		-