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Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of assets carried at fair value on a recurring basis


			Quoted Prices in
			Active Markets		Significant		Significant
			for Identical		Observable		Unobservable
	Balance		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
	September 30, 2019
U.S. government agency mortgage-backed securities-residential	$	93,298	$	—	$	93,298	$	—
U.S. government agency securities		19,386		—		19,386		—
Municipal securities		908		—		908		—
Corporate Bonds		1,515		—		1,515		—
Other		598		—		598		—
Total	$	115,705	$	—	$	115,705	$	—


	December 31, 2018
U.S. Treasury securities	$	2,971	$	2,971	$	—	$	—
U.S. government agency mortgage-backed securities – residential		80,216		—		80,216		—
U.S. government agency securities		16,468		—		16,468		—
Municipal securities		1,232		—		1,232		—
Other		425		—		425		—
Total	$	101,312	$	2,971	$	98,341	$	—

Schedule of assets carried at fair value and measured at fair value on a nonrecurring basis


			Quoted Prices in
			Active Markets		Significant		Significant
			for Identical		Observable		Unobservable
	Balance		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
	September 30, 2019
Impaired loans, with specific reserves	$	213	$	—	$	—	$	213
Other real estate owned		1,074		—		—		1,074
Total	$	1,287	$	—	$	—	$	1,287


	December 31, 2018
Impaired loans	$	128	$	—	$	—	$	128
Other real estate owned		935		—		—		935
Total	$	1,063	$	—	$	—	$	1,063

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis


	Quantitative Information About Level 3 Fair Value Measurements
	Fair Value		Valuation		Unobservable		Range
	Estimate		Techniques		Input		(Weighted Average)
	September 30, 2019

Impaired loans	$	213	Appraisal of collateral	(1)	Appraisal adjustments	(2)	0% to 20%
Other real estate owned		1,074	Appraisal of collateral	(1)	Liquidation expenses	(3)	0% to 6%
					Appraisal adjustments	(2)	0% to 20%
December 31, 2018

	December 31, 2018
Impaired loans	$	128	Appraisal of collateral	(1)	Appraisal adjustments	(2)	0% to 20%
Other real estate owned		935	Appraisal of collateral	(1)	Liquidation expenses	(3)	0% to 6%
					Appraisal adjustments	(2)	0% to 20%

(1)

Fair value is generally through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable.

(2)

Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraised value.

(3)

Estimated costs to sell.

Schedule of carrying value and fair values of the financial instruments


	September 30,				December 31,
	2019				2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and due from banks (Level 2)	$	18,356	$	18,356	$	50,590	$	50,590
Available for sale securities (Level 2)		115,705		115,705		101,312		101,312
FHLB stock (Level 2)		2,608		2,608		1,883		1,883
Loans, net (Level 3)		758,999		765,048		678,402		667,641
Accrued interest receivable (Level 2)		2,793		2,793		2,523		2,523
Mortgage servicing rights (Level 3)		2,192		3,713		2,278		4,667
Financial Liabilities:
Deposits (Level 2)		769,985		764,230		684,418		637,863
Mortgagors escrow accounts (Level 2)		3,693		3,695		7,725		7,723
FHLB advances (Level 2)		47,936		48,394		31,598		31,561
Subordinated debt and other borrowings (Level 2)		5,155		5,155		10,155		10,155