Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value on a Recurring Basis

Assets measured at fair value on a recurring basis are summarized below, along with the level of the fair value hierarchy of the inputs utilized to determine such fair value.

			Recurring Fair Value Measurements Using
	September 30, 2018		Level 1		Level 2		Level 3
	(in thousands)
Securities available-for-sale:
Obligations of states and political subdivisions	$	11,201	$	—	$	11,201	$	—
Government-sponsored mortgage-backed securities		51,136		—		51,136		—
Corporate collateralized mortgage obligations		439		—		439		—
Asset-backed securities		3,853		—		3,853		—
Corporate bonds		—		—		—		—
Certificates of deposit		246		—		246		—

			Recurring Fair Value Measurements Using
	December 31, 2017		Level 1		Level 2		Level 3
	(in thousands)
Securities available-for-sale:
Obligations of states and political subdivisions	$	20,630	$	—	$	20,630	$	—
Government-sponsored mortgage-backed securities		60,024		—		60,024		—
Corporate collateralized mortgage obligations		702		—		702		—
Asset-backed securities		4,832		—		4,832		—
Corporate bonds		1,251		—		1,251		—
Certificates of deposit		1,516		—		1,516		—

Summary of Assets Measured at Fair Value on a Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis are summarized below, along with the level of the fair value hierarchy of the inputs utilized to determine such fair value.

			Recurring Fair Value Measurements Using
	September 30, 2018		Level 1		Level 2		Level 3
	(in thousands)
Loans	$	85	$	—	$	—	$	85

			Recurring Fair Value Measurements Using
	December 31, 2017		Level 1		Level 2		Level 3
	(in thousands)
Loans	$	148	$	—	$	—	$	148

Schedule of Quantitative Information about Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about nonrecurring Level 3 fair value measurements:

	September 30, 2018
	Fair Value		Valuation Technique	Unobservable Input(s)	Range/Weighted Average
	(dollars in thousands)
Impaired loans	$	85	Market and/or income approach	Management discount to appraised rates	10-20%

	December 31, 2017
	Fair Value		Valuation Technique	Unobservable Input(s)	Range/Weighted Average
	(dollars in thousands)
Impaired loans	$	148	Market and/or income approach	Management discount to appraised rates	10-20%

Summary of Carrying Values and Estimated Fair Values of Financial Instruments

The carrying values and estimated fair values of financial instruments are presented below:

	September 30, 2018
	Carrying Value		Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	8,956	$	8,956	$	—	$	—
Securities available-for-sale		66,875		—		66,875		—
Loans held-for-sale		901		—		901		—
Loans		369,973		—		—		363,923
Accrued interest receivable		1,223		1,223		—		—
Cash surrender value of bank-owned life insurance		13,302		—		—		13,302
Federal Home Loan Bank stock		1,525		—		—		1,525
Financial liabilities:
Deposits		392,296		204,772		—		185,493
Advance payments made to borrowers for taxes and insurance		10,571		10,571		—		—
Federal Home Loan Bank advances		36,668		—		—		36,119
Accrued interest payable		343		343		—		—

	December 31, 2017
	Carrying Value		Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	12,497	$	12,497	$	—	$	—
Securities available-for-sale		88,955		—		88,955		—
Loans held-for-sale		217		—		217		—
Loans		331,206		—		—		328,526
Accrued interest receivable		1,214		1,214		—		—
Cash surrender value of bank-owned life insurance		13,732		—		—		13,732
Federal Home Loan Bank stock		1,436		—		—		1,436
Financial liabilities:
Deposits		389,291		203,048		—		185,758
Advance payments made to borrowers for taxes and insurance		385		385		—		—
Federal Home Loan Bank advances		34,693		—		—		34,229
Accrued interest payable		340		340		—		—