Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures

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)
	March 31, 2020
U.S. government agency mortgage-backed securities-residential	$	105,699	$	—	$	105,699	$	—
U.S. government agency securities		5,197		—		5,197		—
Municipal securities		1,375		—		1,195		180
Corporate Bonds		2,269		—		2,269		—
Other		594		—		594		—
Total	$	115,134	$	—	$	114,954	$	180

	December 31, 2019
U.S. government agency mortgage-backed securities – residential	$	98,478	$	—	$	98,478	$	—
U.S. government agency securities		12,076		—		12,076		—
Municipal securities		1,396		—		1,216		180
Corporate Bonds		2,273		—		2,273		—
Other		609		—		609		—
Total	$	114,832	$	—	$	114,652	$	180

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)
	March 31, 2020
Impaired loans, with specific reserves	$	187	$	—	$	—	$	187
Other real estate owned		1,382		—		—		1,382
Total	$	1,569	$	—	$	—	$	1,569

	December 31, 2019
Impaired loans	$	239	$	—	$	—	$	239
Other real estate owned		1,417		—		—		1,417
Total	$	1,656	$	—	$	—	$	1,656

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)
	March 31, 2020
Impaired loans	$	187	Appraisal of collateral	(1)	Appraisal adjustments	(2)	0% to 20%
Other real estate owned		1,382	Appraisal of collateral	(1)	Liquidation expenses	(3)	0% to 6%
					Appraisal adjustments	(2)	0% to 20%
	December 31, 2019
Impaired loans	$	239	Appraisal of collateral	(1)	Appraisal adjustments	(2)	0% to 20%
Other real estate owned		1,417	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

	March 31,				December 31,
	2020				2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and due from banks (Level 1)	$	21,796	$	21,796	$	11,978	$	11,978
Available for sale securities (Level 2)		115,134		115,134		114,832		114,832
FHLB stock (Level 2)		4,035		4,035		3,435		3,435
Loans, net (Level 3)		810,361		823,737		793,471		796,262
Accrued interest receivable (Level 2)		3,102		3,102		2,903		2,903
Mortgage servicing rights (Level 3)		2,254		3,492		2,226		4,137
Financial Liabilities:
Deposits (Level 2)		784,655		792,055		773,343		762,272
Mortgagors escrow accounts (Level 2)		7,063		7,068		8,106		8,107
FHLB advances (Level 2)		79,645		80,726		66,304		66,724
Subordinated debt and other borrowings (Level 2)		5,155		5,155		5,155		5,155