Fair Value (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value [Abstract]

Assets Measured at Fair Value on a Recurring Basis

		June 30, 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	$	-	$	24,180	$	-	$	24,180
GSE mortgage-backed securities		-		25,973		-		25,973
Collateralized mortgage obligations GSE		-		9,295		-		9,295
Corporate bonds		-		8,802		-		8,802
State and municipal tax-exempt		-		1,681		-		1,681
Total	$	-	$	69,931	$	-	$	69,931
Assets Measured at Fair Value on a Nonrecurring Basis
Impaired loans	$	-	$	-	$	691	$	691
OREO and other repossessed property		-		-		1,430		1,430
Total	$	-	$	-	$	2,121	$	2,121

		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

June 30, 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 term	$	556	Appraisal of collateral (1)	Disposal costs (2)	0%	to	-8%	(-4%)
Impaired loans - Consumer other		135	Appraisal of collateral (1)	Disposal costs (2)	-7%	to	-8%	(-8%)
Impaired loan total	$	691
Other real estate owned	$	1,430		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

		June 30, 2019
		Carrying		Fair
(Dollars in thousands)		Amount		Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	46,398	$	46,398	$	46,398	$	-	$	-
AFS investment securities		69,931		69,931		-		69,931		-
HTM investment securities		59,949		60,322		-		58,322		2,000
Restricted stock		5,734		5,734		-		5,734		-
Loans held-for-sale		501		515		-		-		515
Loans, net of allowance, including impaired		923,849		921,497		-		-		921,497
Accrued interest receivable		4,297		4,297		-		4,297		-
Financial liabilities
Deposits:
Non-interest-bearing		178,454		178,454		-		178,454		-
NOW, Money market, and Savings		531,002		531,002		-		531,002		-
Time		178,530		178,808		-		178,808		-
Brokered		87,877		87,369		-		87,369		-
FHLBP advances		31,203		31,112		-		31,112		-
Junior subordinated debentures and other borrowings		9,279		9,990		-		9,990		-
Subordinated debt		9,750		9,271		-		9,271		-
Accrued interest payable		641		641		-		641		-
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		-
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		-		-		-		-		-