Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Of Financial Assets Measured On Recurring Basis



		(Level 1)		(Level 2)
		Quoted		Significant		(Level 3)
		Prices in Active		Other		Significant
		Markets for		Observable		Unobservable
Description	Identical Assets		Inputs		Inputs		Total

		(In Thousands)
U.S. Government agency obligations	$	-	$	7,982	$	-	$	7,982
Municipal bonds		-		35,919		-		35,919
U.S. Government Sponsored Enterprise (GSE) -
Mortgage-backed securities - residential		-		48,135		-		48,135
June 30, 2018 Securities available for sale	$	-	$	92,036	$	-	$	92,036

U.S. Government agency obligations	$	-	$	9,988	$	-	$	9,988
Municipal bonds		-		38,321		-		38,321
U.S. Government Sponsored Enterprise (GSE) -
Mortgage-backed securities - residential		-		41,987		-		41,987
December 31, 2017 Securities available for sale	$	-	$	90,296	$	-	$	90,296

Fair Value Of Financial Assets Measured On Nonrecurring Basis



		(Level 1)		(Level 2)
		Quoted		Significant		(Level 3)
		Prices in Active		Other		Significant
		Markets for		Observable		Unobservable
Description	Identical Assets		Inputs		Inputs		Total
		(In Thousands)
June 30, 2018 Impaired loans	$	-	$	-	$	1,001	$	1,001
June 30, 2018 Other real estate owned	$	-	$	-	$	297	$	297
December 31, 2017 Impaired loans	$	-	$	-	$	980	$	980
December 31, 2017 Other real estate owned	$	-	$	-	$	458	$	458

Quantitative Information About Level 3 Fair Value Measurements



	Quantitative Information about Level 3 Fair Value Measurements
Description	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)

		(Dollars In Thousands)
June 30, 2018:
Impaired loans	$	1,001	Appraisal of collateral	Appraisal adjustments (1)	0% to -25% (-18.6%)
				Liquidation expenses (2)	0% to -8.5% (-8.1%)
Other real estate owned	$	297	Listings, Letters of Intent	Liquidation expenses (2)	-5% (-5%)
			& Third Party Evaluations
December 31, 2017:
Impaired loans	$	980	Appraisal of collateral	Appraisal adjustments (1)	0% to -25% (-23.2%)
				Liquidation expenses (2)	0% to -8.5% (-7.7%)
Other real estate owned	$	458	Listings, Letters of Intent	Liquidation expenses (2)	-5% (-5%)
			& Third Party Evaluations

Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal.

Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale.

Estimated Fair Value Of Financial Instruments



						(Level 1)
						Quoted		(Level 2)		(Level 3)
						Prices in Active		Significant Other		Significant
		Carrying		Fair Value		Markets for		Observable		Unobservable
		Amount		Estimate		Identical Assets		Inputs		Inputs

	(In Thousands)
June 30, 2018:
Financial assets:
Cash and cash equivalents	$	32,147	$	32,147	$	32,147	$	-	$	-
Securities available-for-sale		92,036		92,036		-		92,036		-
Loans receivable, net of allowance		917,776		904,731		-		-		904,731
Restricted investments in bank stock		1,784		1,784		-		1,784		-
Accrued interest receivable		1,995		1,995		-		1,995		-
Financial liabilities:
Deposits		929,588		928,070		-		928,070		-
Securities sold under agreements to
repurchase and federal funds purchased		17,129		17,116		-		17,116		-
Short-term borrowings		28,740		28,740		-		28,740		-
Accrued interest payable		906		906		-		906		-
Off-balance sheet financial instruments:
Commitments to grant loans		-		-		-		-		-
Unfunded commitments under lines of credit		-		-		-		-		-
Standby letters of credit		-		-		-		-		-

December 31, 2017:
Financial assets:
Cash and cash equivalents	$	33,534	$	33,534	$	33,534	$	-	$	-
Securities available-for-sale		90,296		90,296		-		90,296		-
Loans receivable, net of allowance		851,711		849,328		-		-		849,328
Restricted investments in bank stock		583		583		-		583		-
Accrued interest receivable		1,983		1,983		-		1,983		-
Financial liabilities:
Deposits		900,854		900,232		-		900,232		-
Securities sold under agreements to
repurchase and federal funds purchased		9,999		9,994		-		9,994		-
Accrued interest payable		874		874		-		874		-
Off-balance sheet financial instruments:
Commitments to grant loans		-		-		-		-		-
Unfunded commitments under lines of credit		-		-		-		-		-
Standby letters of credit		-		-		-		-		-