Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets Recognized in Consolidated Balance Sheets Measured at Fair Value on Recurring Basis

The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2018 and December 31, 2017:

			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
September 30, 2018
U.S. government agencies	$	44,430	$	—	$	44,430	$	—
State and political subdivisions		42,036		—		42,036		—
December 31, 2017
U.S. government agencies	$	44,959	$	—	$	44,959	$	—

Fair Value Measurements of Assets Recognized in Consolidated Balance Sheets Measured at Fair Value on Nonrecurring Basis

The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2018 and December 31, 2017.

			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
September 30, 2018
Collateral dependent impaired loans	$	334	$	—	$	—	$	334
Foreclosed assets held for sale		151		—		—		151
December 31, 2017
Collateral dependent impaired loans	$	336	$	—	$	—	$	336
Foreclosed assets held for sale		34		—		—		34

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

	Fair Value at 9/30/18		Valuation Technique	Unobservable Inputs	Range
	(In thousands)
Collateral-dependent impaired loans	$	334	Market comparable properties	Marketability discount	Not available
Foreclosed assets held for sale	$	151	Market comparable properties	Selling costs	10% – 35%

	Fair Value at 12/31/17		Valuation Technique	Unobservable Inputs	Range
	(In thousands)
Collateral-dependent impaired loans	$	336	Market comparable properties	Marketability discount	Not available
Foreclosed assets held for sale	$	34	Market comparable properties	Selling costs	10% – 35%

Estimated Fair Values of Company's Financial Instruments

The following table presents estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate.

			Fair Value Measurements Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
September 30, 2018
Financial assets
Cash and cash equivalents	$	12,910	$	12,910	$	—	$	—
Loans, net of allowance		391,178		—		—		384,669
Federal Home Loan Bank stock		4,164		—		4,164		—
Accrued interest receivable		1,567		—		1,567		—
Financial liabilities
Deposits		434,331		—		370,580		—
Short term borrowings		15,399		—		15,399		—
Federal Home Loan Bank Advances		22,139		—		22,144		—
Subordinated debentures		4,124		—		3,733		—
Interest payable		146				146		—

			Fair Value Measurements Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
December 31, 2017
Financial assets
Cash and cash equivalents	$	14,315	$	14,315	$	—	$	—
Loans, net of allowance		366,467		—		—		368,053
Federal Home Loan Bank stock		4,164		—		4,164		—
Accrued interest receivable		993		—		993		—
Financial liabilities
Deposits		385,966		—		358,772		—
Short term borrowings		11,085		—		11,085		—
Federal Home Loan Bank Advances		10,022		—		10,012		—
Subordinated debentures		4,124		—		3,590		—
Interest payable		70		—		70		—