Fair Value (Tables)

12 Months Ended

Dec. 31, 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:

	Recurring Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
December 31, 2018
Available for sale securities:
Obligations of states and political subdivisions	$	—	$	11,169	$	—	$	11,169
Government-sponsored mortgage-backed securities		—		50,375		—		50,375
Corporate collateralized mortgage obligations		—		410		—		410
Asset-backed securities		—		3,531		—		3,531
Certificates of deposit		—		246		—		246
Total	$	—	$	65,731	$	—	$	65,731

	Recurring Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
December 31, 2017
Available for sale securities:
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
Total	$	—	$	88,955	$	—	$	88,955

Summary of Assets Measured at Fair Value on a Nonrecurring Basis

Information regarding the fair value of assets measured at fair value on a nonrecurring basis follows:

	Recurring Fair Value Measurements Using
	Level 1		Level 2		Level 3		Total
December 31, 2018
Loans	$	—	$	—	$	85	$	85
December 31, 2017
Loans	$	—	$	—	$	148	$	148

Schedule of Quantitative Information about Nonrecurring Level 3 Fair Value Measurements

Quantitative information about nonrecurring Level 3 fair value measurements follows:

	Fair Value		Valuation Technique		Significant Unobservable Input(s)		Range/Weighted Average
December 31, 2018
Impaired loans	$	85		Market and/or income approach		Management discount to appraised values		10-20%
December 31, 2017
Impaired loans	$	148		Market and/or income approach		Management discount to appraised values		10-20%

Summary of Carrying Values and Estimated Fair Values of Financial Instruments

The carrying value and estimated fair value of financial instruments follow:

	December 31, 2018
	Carrying Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	7,923	$	7,923	$	—	$	—
Available for sale securities		65,731		—		65,731		—
Loans held for sale		771		—		771		—
Loans		369,830		—		—		362,233
Accrued interest receivable		1,106		1,106		—		—
Cash value of life insurance		13,400		—		—		13,400
FHLB stock		1,261		—		—		1,261
Financial liabilities:
Deposits		406,137		223,860		—		180,703
Advance payments by borrowers for taxes and insurance		1,240		1,240		—		—
FHLB advances		30,010		—		—		29,499
Accrued interest payable		372		372		—		—

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