Fair Values (Tables)

3 Months Ended

Mar. 31, 2019

Fair Values [Abstract]

Assets Measured at Fair Value on a Recurring Basis

		March 31, 2019
(Dollars in thousands)		Level 1		Level 2		Level 3		Fair Value
Assets Measured at Fair Value on a Recurring Basis
AFS Investment Securities:
US Government agency obligations	$	-	$	37,952	$	-	$	37,952
GSE mortgage-backed securities		-		26,989		-		26,989
Collateralized mortgage obligations GSE		-		9,546		-		9,546
Corporate bonds		-		10,742		-		10,742
State and municipal tax-exempt		-		1,893		-		1,893
Total	$	-	$	87,122	$	-	$	87,122
Assets Measured at Fair Value on a Nonrecurring Basis
Impaired loans	$	-	$	-	$	1,317	$	1,317
OREO and other repossessed property		-		-		526		526
Total	$	-	$	-	$	1,843	$	1,843

		December 31, 2018
(Dollars in thousands)		Level 1		Level 2		Level 3		Fair Value
Assets Measured at Fair Value on a Recurring Basis
AFS Investment Securities:
US Government agency obligations	$	-	$	47,723	$	-	$	47,723
GSE mortgage-backed securities		-		26,558		-		26,558
Collateralized mortgage obligations GSE		-		9,808		-		9,808
Corporate bonds		-		10,704		-		10,704
State and municipal tax-exempt		-		1,850		-		1,850
Total	$	-	$	96,643	$	-	$	96,643
Assets Measured at Fair Value on a Nonrecurring Basis
Impaired loans	$	-	$	-	$	1,523	$	1,523
OREO and other repossessed property		-		-		1,247		1,247
Total	$	-	$	-	$	2,770	$	2,770

Quantitative Information About Level 3 Fair Value Measurements

March 31, 2019
Quantitative Information about Level 3 Fair Value Measurement
		Fair Value	Valuation		Range
(Dollars in thousands)		Estimate	Techniques	Unobservable Input	(Weighted Average)
Impaired loans - Commercial mortgage	$	659	Appraisal of collateral (1)	Disposal costs (2)	-14%	to	-14%	(-14%)
Impaired loans - Commercial term		517	Appraisal of collateral (1)	Disposal costs (2)	0%	to	-8%	(-4%)
Impaired loans - Consumer other		141	Appraisal of collateral (1)	Disposal costs (2)	-7%	to	-8%	(-8%)
Impaired loan total	$	1,317
Other real estate owned	$	526		Disposal costs (2)	-8%	to	-8%	(-8%)

(1)

(2)

December 31, 2018
Quantitative Information about Level 3 Fair Value Measurement
		Fair Value	Valuation		Range
(Dollars in thousands)		Estimate	Techniques	Unobservable Input	(Weighted Average)
Impaired loans - Residential mortgage	$	72	Appraisal of collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loans - Commercial mortgage		659	Appraisal of collateral (1)	Disposal costs (2)	-14%	to	-14%	(-14%)
Impaired loans - Commercial term		754	Appraisal of collateral (1)	Disposal costs (2)	0%	to	-16%	(-11%)
Impaired loans - Consumer other		38	Appraisal of collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loan total	$	1,523
Other real estate owned	$	1,247		Disposal costs (2)	-8%	to	-8%	(-8%)

⁽¹⁾ Fair value is generally determined through independent appraisals or sales contracts of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

Appraisals are adjusted by management for qualitative factors and disposal costs.

Carrying Amounts and Fair Values of Financial Instruments

		March 31, 2019
		Carrying		Fair
(Dollars in thousands)		Amount		Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	34,893	$	34,893	$	34,893	$	-	$	-
AFS investment securities		87,122		87,122		-		87,122		-
HTM investment securities		61,000		60,906		-		58,906		2,000
Restricted stock		6,389		6,389		-		6,389		-
Loans held-for-sale		449		457		-		-		457
Loans, net of allowance, including impaired		926,978		912,038		-		-		912,038
Accrued interest receivable		4,396		4,396		-		4,396		-
Financial liabilities
Deposits:
Non-interest-bearing		166,806		166,806		-		166,806		-
NOW, Money market, and Savings		543,349		543,349		-		543,349		-
Time		162,939		162,513		-		162,513		-
Brokered		107,163		106,304		-		106,304		-
Repurchase agreements		-		-		-		-		-
FHLBP advances		41,918		41,601		-		41,601		-
Junior subordinated debentures and other borrowings		9,279		10,166		-		10,166		-
Subordinated debt		9,750		9,435		-		9,435		-
Accrued interest payable		699		699		-		699		-
Off-balance sheet instruments		-		-		-		-		-

		December 31, 2018
		Carrying		Fair
(Dollars in thousands)		Amount		Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	17,321	$	17,321	$	17,321	$	-	$	-
AFS investment securities		96,643		96,643		-		96,643		-
HTM investment securities		62,026		61,135		-		59,135		2,000
Restricted stock		5,616		5,616		-		5,616		-
Loans held-for-sale		419		429		-		-		429
Loans, net of allowance, including impaired		928,296		914,822		-		-		914,822
Accrued interest receivable		4,207		4,207		-		4,207		-
Financial liabilities
Deposits:
Non-interest-bearing		164,746		164,746		-		164,746		-
NOW, Money market, and Savings		549,073		549,073		-		549,073		-
Time		162,096		160,944		-		160,944		-
Brokered		108,651		97,250		-		97,250		-
Repurchase agreements		-		-		-		-		-
FHLBP advances		32,935		32,347		-		32,347		-
Junior subordinated debentures and other borrowings		9,279		10,285		-		10,285		-
Subordinated debt		9,750		9,505		-		9,505		-
Accrued interest payable		646		646		-		646		-
Off-balance sheet instruments		-		-		-		-		-