Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019. There were no liabilities measured at fair value on a recurring basis as of December 31, 2019.

	Fair Value Measurements as of December 31, 2020 Using
	Totals At December 31, 2020		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Investment securities, available-for-sale
Mortgage-backed securities:
Residential	$	25,537	$	—	$	25,537	$	—
Commercial		41,487		—		41,487		—
Obligations of states and political subdivisions		5,108		—		5,108		—
Corporate notes		2,784				2,784
U.S. Treasury securities		10,077		—		10,077		—
Other liabilities - derivatives		2,610		—		2,610		—

	Fair Value Measurements as of December 31, 2019 Using
	Totals At December 31, 2019		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Investment securities, available-for-sale
Mortgage-backed securities:
Residential	$	46,345	$	—	$	46,345	$	—
Commercial		43,373		—		43,373		—
Obligations of states and political subdivisions		4,218		—		4,218		—
U.S. Treasury securities		80		—		80		—
Other assets - derivatives		301		—		301		—

Fair Value Assets Measured on Nonrecurring Basis

The following table presents the balances of impaired loans, OREO and other assets held-for-sale measured at fair value on a non-recurring basis as of December 31, 2020 and 2019:

	Fair Value Measurements as of December 31, 2020 Using
	Totals At December 31, 2020		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in Thousands)
Impaired loans	$	28	$	—	$	—	$	28
OREO and other assets held-for-sale		949		—		—		949

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

The following table presents information regarding assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of December 31, 2020. The table includes the valuation techniques and the significant unobservable inputs utilized. The range of each unobservable input and the weighted average within the range utilized as of December 31, 2020 are both included. Following the table is a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input.

	Level 3 Significant Unobservable Input Assumptions
	Fair Value December 31, 2020		Valuation Technique	Unobservable Input	Quantitative Range of Unobservable Inputs (Weighted Average)
	(Dollars in Thousands)
Non-recurring fair value measurements:
Impaired loans	$	28	Multiple data points, including discount to appraised value of collateral based on recent market activity	Appraisal comparability adjustment (discount)	9%-10%	(9.5)%
OREO and other assets held-for-sale	$	949	Discount to appraised value of property based on recent market activity for sales of similar properties	Appraisal comparability adjustment (discount)	9%-10%	(9.5)%

Fair Value, by Balance Sheet Grouping

The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of December 31, 2020 and 2019 were as follows:

	December 31, 2020
	Carrying Amount		Estimated Fair Value		Level 1		Level 2		Level 3
	(Dollars in Thousands)
Assets:
Cash and cash equivalents	$	94,415	$	94,415	$	94,415	$	—	$	—
Investment securities available-for-sale		84,993		84,993		—		84,993		—
Investment securities held-to-maturity		6,429		6,559		—		6,559		—
Federal funds sold		85		85		—		85		—
Federal Home Loan Bank stock		1,135		1,135		—		—		1,135
Loans, net of allowance for loan losses		638,374		650,107		—		—		650,107
Liabilities:
Deposits		782,212		784,574		—		784,574		—
Short-term borrowings		10,017		10,017		—		10,017		—
Other liabilities - derivatives		2,610		2,610		—		2,610		—

	December 31, 2019
	Carrying Amount		Estimated Fair Value		Level 1		Level 2		Level 3
	(Dollars in Thousands)
Assets:
Cash and cash equivalents	$	57,030	$	57,030	$	57,030	$	—	$	—
Investment securities available-for-sale		94,016		94,016		—		94,016		—
Investment securities held-to-maturity		14,340		14,306		—		14,306		—
Federal funds sold		10,080		10,080		—		10,080		—
Federal Home Loan Bank stock		1,137		1,137		—		—		1,137
Loans, net of allowance for loan losses		545,243		559,911		—		—		559,911
Other assets - derivatives		301		301		—		301		—
Liabilities:
Deposits		683,662		682,828		—		682,828		—
Short-term borrowings		10,025		10,025		—		10,025		—