Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Measurement

Summary of balances of the assets and liabilities measured at fair value on a recurring basis

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following table presents the balances of the assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018:

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Fair Value of Financial Assets:
Securities Available for Sale:
U.S. Treasury Securities	$	4,998	$	—	$	—	$	4,998
Municipal Bonds		—		105,743		—		105,743
Mortgage-Backed Securities		—		64,728		—		64,728
Corporate Securities		—		50,176		—		50,176
SBA Securities		—		49,559		—		49,559
Asset-Backed Securities		—		14,673		—		14,673
Interest Rate Swaps		—		284		—		284
Total Fair Value of Financial Assets	$	4,998	$	285,163	$	—	$	290,161
Fair Value of Financial Liabilities:
Interest Rate Swaps	$	—	$	902	$	—	$	902
Total Fair Value of Financial Liabilities	$	—	$	902	$	—	$	902

	December 31, 2018
	Level 1		Level 2		Level 3		Total
Fair Value of Financial Assets:
Securities Available for Sale:
U.S. Treasury Securities	$	17,897	$	—	$	—	$	17,897
Municipal Bonds		—		118,133		—		118,133
Mortgage-Backed Securities		—		47,176		—		47,176
Corporate Securities		—		21,118		—		21,118
SBA Securities		—		49,054		—		49,054
Interest Rate Swaps		—		352		—		352
Total Fair Value of Financial Assets	$	17,897	$	235,833	$	—	$	253,730

Summary of net impairment losses related to nonrecurring fair value measurements of certain asset

The following tables present net impairment losses related to nonrecurring fair value measurements of certain assets for the periods ended December 31, 2019, 2018 and 2017:

	December 31, 2019
	Level 1		Level 2		Level 3		Loss
Impaired Loans	$	—	$	75	$	—	$	206
Totals	$	—	$	75	$	—	$	206

	December 31, 2018
	Level 1		Level 2		Level 3		Loss
Impaired Loans	$	—	$	426	$	—	$	396
Totals	$	—	$	426	$	—	$	396

	December 31, 2017
	Level 1		Level 2		Level 3		Loss
Impaired Loans	$	—	$	464	$	—	$	109
Totals	$	—	$	464	$	—	$	109

Summary of carrying amount and estimated fair values of financial instruments

The following tables present the carrying amount and estimated fair values of financial instruments at December 31, 2019 and 2018:

	December 31, 2019
			Fair Value Hierarchy
	Carrying								Estimated
	Amount		Level 1		Level 2		Level 3		Fair Value
Financial Assets:
Cash and Due From Banks	$	31,935	$	31,935	$	—	$	—	$	31,935
Bank-Owned Certificates of Deposit		2,654		—		2,677		—		2,677
Securities Available for Sale		289,877		4,998		284,879		—		289,877
FHLB Stock, at Cost		7,824		—		7,824		—		7,824
Loans, Net		1,884,000		—		1,891,987		—		1,891,987
Accrued Interest Receivable		6,775		—		6,775		—		6,775
Interest Rate Swaps		284		—		284		—		284
Financial Liabilities:
Deposits	$	1,823,310	$	—	$	1,821,915	$	—	$	1,821,915
Notes Payable		13,000		—		13,022		—		13,022
FHLB Advances		136,500		—		141,152		—		141,152
Subordinated Debentures		24,733		—		25,309		—		25,309
Accrued Interest Payable		1,982		—		1,982		—		1,982
Interest Rate Swaps		902		—		902		—		902

	December 31, 2018
			Fair Value Hierarchy
	Carrying								Estimated
	Amount		Level 1		Level 2		Level 3		Fair Value
Financial Assets:
Cash and Due From Banks	$	28,444	$	28,444	$	—	$	—	$	28,444
Bank-Owned Certificates of Deposit		3,305		—		3,292		—		3,292
Securities Available for Sale		253,378		17,897		235,481		—		253,378
FHLB Stock, at Cost		7,614		—		7,614		—		7,614
Loans, Net		1,640,385		—		1,634,196		—		1,634,196
Accrued Interest Receivable		6,589		—		6,589		—		6,589
Interest Rate Swap		352		—		352		—		352
Financial Liabilities:
Deposits	$	1,560,934	$	—	$	1,560,488	$	—	$	1,560,488
Federal Funds Purchased		18,000		—		18,000		—		18,000
Notes Payable		15,000		—		15,551		—		15,551
FHLB Advances		124,000		—		124,952		—		124,952
Subordinated Debentures		24,630		—		25,365		—		25,365
Accrued Interest Payable		1,806		—		1,806		—		1,806