Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

Assets measured at fair value on a recurring basis at March 31, 2020 and December 31, 2019, segregated by fair value hierarchy level, are summarized below:



	Fair Value Measurements
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2020:	(Dollars in thousands)
Debt securities AFS:
U.S. Government-sponsored enterprises	$	5,057	$	—	$	5,057	$	—
Agency mortgage-backed	48,079		—		48,079		—
State and political subdivisions	28,339		—		28,339		—
Corporate	7,972		—		7,972		—
Total debt securities	$	89,447	$	—	$	89,447	$	—

Other investments:
Mutual funds	$	581	$	581	$	—	$	—

December 31, 2019:
Debt securities AFS:
U.S. Government-sponsored enterprises	$	6,292	$	—	$	6,292	$	—
Agency mortgage-backed	46,024		—		46,024		—
State and political subdivisions	26,965		—		26,965		—
Corporate	8,112		—		8,112		—
Total debt securities	$	87,393	$	—	$	87,393	$	—

Other investments:
Mutual funds	$	690	$	690	$	—	$	—

Fair Values and Carrying Amounts, Significant Financial Instruments [Table Text Block]

As of the balance sheet dates, the estimated fair values and related carrying amounts of the Company's significant financial instruments were as follows:



	March 31, 2020
	Fair Value Measurements
	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Financial assets
Cash and cash equivalents	$	41,712	$	41,712	$	41,712	$	—	$	—
Interest bearing deposits in banks	6,067		6,247		—		6,247		—
Investment securities	90,028		90,028		581		89,447		—
Loans held for sale	16,456		16,887		—		16,887		—
Loans, net
Residential real estate	189,204		191,802		—		—		191,802
Construction real estate	53,670		53,172		—		—		53,172
Commercial real estate	300,938		302,181		—		—		302,181
Commercial	47,300		46,065		—		—		46,065
Consumer	3,442		3,395		—		—		3,395
Municipal	76,642		75,345		—		—		75,345
Accrued interest receivable	2,702		2,702		—		443		2,259
Nonmarketable equity securities	3,205		N/A		N/A		N/A		N/A
Financial liabilities
Deposits
Noninterest bearing	$	139,963	$	139,963	$	139,963	$	—	$	—
Interest bearing	449,943		449,943		449,943		—		—
Time	146,154		147,443		—		147,443		—
Borrowed funds
Short-term	55,000		55,031		—		55,031		—
Long-term	7,164		7,155		—		7,155		—
Accrued interest payable	204		204		—		204		—



	December 31, 2019
	Fair Value Measurements
	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Financial assets
Cash and cash equivalents	$	51,134	$	51,134	$	51,134	$	—	$	—
Interest bearing deposits in banks	6,565		6,671		—		6,671		—
Investment securities	88,083		88,083		690		87,393		—
Loans held for sale	7,442		7,587		—		7,587		—
Loans, net
Residential real estate	191,032		192,955		—		—		192,955
Construction real estate	68,951		68,381		—		—		68,381
Commercial real estate	286,871		288,931		—		—		288,931
Commercial	47,379		45,872		—		—		45,872
Consumer	3,545		3,483		—		—		3,483
Municipal	67,387		67,103		—		—		67,103
Accrued interest receivable	2,702		2,702		—		435		2,267
Nonmarketable equity securities	2,607		N/A		N/A		N/A		N/A
Financial liabilities
Deposits
Noninterest bearing	$	136,434	$	136,434	$	136,434	$	—	$	—
Interest bearing	458,940		458,940		458,940		—		—
Time	148,653		148,542		—		148,542		—
Borrowed funds
Short-term	40,000		40,000		40,000		—		—
Long-term	7,164		7,416		—		7,416		—
Accrued interest payable	673		673		—		673		—