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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2019
Fair Value Measurements [Abstract]  
Assets Measured at Fair Value on Recurring Basis
The following table presents the balances of certain assets measured at fair value on a recurring basis as of the dates indicated:

   
Fair Value Measurements at March 31, 2019 Using
 
 
Balance
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
 
(in thousands)
 
Available-for-sale securities
        
U.S. Treasury securities
 
$
22,387
  
$
-
  
$
22,387
  
$
-
 
Obligations of  U.S. Government agencies
  
13,045
   
-
   
13,045
   
-
 
Obligations of state and political subdivisions
  
42,142
   
-
   
42,142
   
-
 
Mortgage-backed securities
  
73,823
   
-
   
73,823
   
-
 
Money market investments
  
2,636
   
-
   
2,636
   
-
 
Corporate bonds and other securities
  
3,786
   
-
   
3,786
   
-
 
Total available-for-sale securities
 
$
157,819
  
$
-
  
$
157,819
  
$
-
 

   
Fair Value Measurements at December 31, 2018 Using
 
 
Balance
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
 
(in thousands)
 
Available-for-sale securities
        
U.S. Treasury securities
 
$
12,328
  
$
-
  
$
12,328
  
$
-
 
Obligations of  U.S. Government agencies
  
10,714
   
-
   
10,714
   
-
 
Obligations of state and political subdivisions
  
48,837
   
-
   
48,837
   
-
 
Mortgage-backed securities
  
71,191
   
-
   
71,191
   
-
 
Money market investments
  
1,897
   
-
   
1,897
   
-
 
Corporate bonds and other securities
  
3,280
   
-
   
3,280
   
-
 
Total available-for-sale securities
 
$
148,247
  
$
-
  
$
148,247
  
$
-
 
Assets Measured at Fair Value on Nonrecurring Basis
The following table presents the assets carried on the consolidated balance sheets for which a nonrecurring change in fair value has been recorded. Assets are shown by class of loan and by level in the fair value hierarchy, as of the dates indicated. Certain impaired loans are valued by the present value of the loan’s expected future cash flows, discounted at the loan’s effective interest rate rather than at a market rate. These loans are not carried on the consolidated balance sheets at fair value and, as such, are not included in the table below.

     
Carrying Value at March 31, 2019 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)
 
Impaired loans
            
Mortgage loans on real estate:
            
Residential 1-4 family
 
$
207
  
$
-
  
$
-
  
$
207
 
Construction
  
76
   
-
   
-
   
76
 
Equity lines of credit
  
229
   
-
   
-
   
229
 
Total
 
$
512
  
$
-
  
$
-
  
$
512
 
                 
Loans
                
Loans held for sale
 
$
649
  
$
-
  
$
649
  
$
-
 

     
Carrying Value at December 31, 2018 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)
 
Impaired loans
            
Mortgage loans on real estate:
            
Residential 1-4 family
 
$
188
  
$
-
  
$
-
  
$
188
 
Construction
  
74
   
-
   
-
   
74
 
Equity lines of credit
  
229
   
-
   
-
   
229
 
Total
 
$
491
  
$
-
  
$
-
  
$
491
 
                 
Loans
                
Loans held for sale
 
$
479
  
$
-
  
$
479
  
$
-
 
                 
Other Real Estate Owned
                
Construction
 
$
83
  
$
-
  
$
-
  
$
83
 
Total
 
$
83
  
$
-
  
$
-
  
$
83
 
Fair Value Inputs, Assets, Quantitative Information
The following table displays quantitative information about Level 3 Fair Value Measurements as of the dates indicated:

Quantitative Information About Level 3 Fair Value Measurements
 
  
Fair Value at
March 31, 2019
(dollars in thousands)
 
Valuation Techniques
Unobservable Input
 
Range (Weighted Average)
 
Impaired loans
        
Residential 1-4 family real estate
 
$
207
 
Market comparables
Selling costs
  
0.00% - 7.25% (5.92
%)
        
Liquidation discount
  
0.00% - 4.00% (3.27
%)
Construction
 
$
76
 
Market comparables
Selling costs
  
7.25
%
        
Liquidation discount
  
4.00
%
Equity lines of credit
 
$
229
 
Market comparables
Selling costs
  
7
%
        
Liquidation discount
  
4
%

Quantitative Information About Level 3 Fair Value Measurements
 
  
Fair Value at
December 31, 2018
(dollars in thousands)
 
Valuation Techniques
Unobservable Input
 
Range (Weighted Average)
 
Impaired loans
        
Residential 1-4 family real estate
 
$
188
 
Market comparables
Selling costs
  
7.25
%
        
Liquidation discount
  
4.00
%
Construction
 
$
74
 
Market comparables
Selling costs
  
7.25
%
        
Liquidation discount
  
4.00
%
Equity lines of credit
 
$
229
 
Market comparables
Selling costs
  
7.25
%
        
Liquidation discount
  
4.00
%
           
Other real estate owned
          
Construction
 
$
83
 
Market comparables
Selling costs
  
7.25
%
        
Liquidation discount
  
4.00
%
Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments
The estimated fair values, and related carrying or notional amounts, of the Company's financial instruments as of the dates indicated are as follows:

     
Fair Value Measurements at March 31, 2019 Using
 
  
Carrying
Value
  
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
  
(in thousands)
 
Assets
            
Cash and cash equivalents
 
$
32,799
  
$
32,799
  
$
-
  
$
-
 
Securities available-for-sale
  
157,819
   
-
   
157,819
   
-
 
Restricted securities
  
3,691
   
-
   
3,691
   
-
 
Loans held for sale
  
649
   
-
   
649
   
-
 
Loans, net of allowances for loan losses
  
752,799
   
-
   
-
   
740,253
 
Bank-owned life insurance
  
26,955
   
-
   
26,955
   
-
 
Accrued interest receivable
  
3,054
   
-
   
3,054
   
-
 
                 
Liabilities
                
Deposits
 
$
836,177
  
$
-
  
$
839,182
  
$
-
 
Overnight repurchase agreements
  
24,643
   
-
   
24,643
   
-
 
Federal Home Loan Bank advances
  
55,000
   
-
   
55,109
   
-
 
Other borrowings
  
2,400
   
-
   
2,400
   
-
 
Accrued interest payable
  
625
   
-
   
625
   
-
 

     
Fair Value Measurements at December 31, 2018 Using
 
  
Carrying
Value
  
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
  
(in thousands)
 
Assets
            
Cash and cash equivalents
 
$
42,217
  
$
42,217
  
$
-
  
$
-
 
Securities available-for-sale
  
148,247
   
-
   
148,247
   
-
 
Restricted securities
  
3,853
   
-
   
3,853
   
-
 
Loans held for sale
  
479
   
-
   
479
   
-
 
Loans, net of allowances for loan losses
  
763,898
   
-
   
-
   
749,848
 
Bank-owned life insurance
  
26,763
   
-
   
26,763
   
-
 
Accrued interest receivable
  
3,095
   
-
   
3,095
   
-
 
                 
Liabilities
                
Deposits
 
$
843,144
  
$
-
  
$
843,818
  
$
-
 
Overnight repurchase agreements
  
25,775
   
-
   
25,775
   
-
 
Federal Home Loan Bank advances
  
60,000
   
-
   
59,975
   
-
 
Other borrowings
  
2,550
   
-
   
2,550
   
-
 
Accrued interest payable
  
594
   
-
   
594
   
-