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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2020
Fair Value Measurements [Abstract]  
Assets Measured at Fair Value on Recurring Basis
The following tables present the balances of certain assets measured at fair value on a recurring basis as of the dates indicated:

     
Fair Value Measurements at March 31, 2020 Using
 
(dollars in thousands)
 
Balance
  
Quoted Prices
 in Active
Markets for
Identical
 Assets
(Level 1)
  

Significant
Other
Observable
 Inputs
(Level 2)
  
Significant
Unobservable
 Inputs
(Level 3)
 
Available-for-sale securities
            
U.S. Treasury securities
 
$
7,125
  
$
-
  
$
7,125
  
$
-
 
Obligations of  U.S. Government agencies
  
33,700
   
-
   
33,700
   
-
 
Obligations of state and political subdivisions
  
28,236
   
-
   
28,236
   
-
 
Mortgage-backed securities
  
74,889
   
-
   
74,889
   
-
 
Money market investments
  
3,948
   
-
   
3,948
   
-
 
Corporate bonds and other securities
  
4,710
   
-
   
4,710
   
-
 
Total available-for-sale securities
 
$
152,608
  
$
-
  
$
152,608
  
$
-
 

     
Fair Value Measurements at December 31, 2019 Using
 
(dollars in thousands)
 
Balance
  
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Available-for-sale securities
            
U.S. Treasury securities
 
$
7,003
  
$
-
  
$
7,003
  
$
-
 
Obligations of  U.S. Government agencies
  
33,604
   
-
   
33,604
   
-
 
Obligations of state and political subdivisions
  
24,742
   
-
   
24,742
   
-
 
Mortgage-backed securities
  
71,908
   
-
   
71,908
   
-
 
Money market investments
  
3,825
   
-
   
3,825
   
-
 
Corporate bonds and other securities
  
4,633
   
-
   
4,633
   
-
 
Total available-for-sale securities
 
$
145,715
  
$
-
  
$
145,715
  
$
-
 
Assets Measured at Fair Value on Nonrecurring Basis
The following table presents the assets carried in 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 in the consolidated balance sheets at fair value and, as such, are not included in the tables below.

     
Carrying Value at March 31, 2020
 
(dollars in thousands)
 
Fair Value
  
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
  
Significant Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Impaired loans
            
Mortgage loans on real estate:
            
Residential 1-4 family
 
$
83
  
$
-
  
$
-
  
$
83
 
Commercial
  
1,247
   
-
   
-
   
1,247
 
Construction
  
74
   
-
   
-
   
74
 
Total mortgage loans on real estate
 
$
1,404
  
$
-
  
$
-
  
$
1,404
 
Commercial loans
  
-
   
-
   
-
   
-
 
Total
 
$
1,404
  
$
-
  
$
-
  
$
1,404
 
                 
Loans
                
Loans held for sale
 
$
2,309
  
$
-
  
$
2,309
  
$
-
 
                 
Other real estate owned
                
Residential 1-4 family
 
$
236
  
$
-
  
$
-
  
$
236
 
Total
 
$
236
  
$
-
  
$
-
  
$
236
 

     
Carrying Value at December 31, 2019
 
(dollars in thousands)
 
Fair Value
  
Quoted Prices
in Active
Markets for
Identical
  Assets
(Level 1)
  

Significant Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Impaired loans
            
Mortgage loans on real estate:
            
Residential 1-4 family
 
$
74
  
$
-
  
$
-
  
$
74
 
Commercial
  
1,294
   
-
   
-
   
1,294
 
Construction
  
74
   
-
   
-
   
74
 
Total mortgage loans on real estate
  
1,442
   
-
   
-
   
1,442
 
Commercial loans
  
-
   
-
   
-
   
-
 
Total
 
$
1,442
  
$
-
  
$
-
  
$
1,442
 
                 
Loans
                
Loans held for sale
 
$
590
  
$
-
  
$
590
  
$
-
 
Fair Value Inputs, Assets, Quantitative Information
The following tables display quantitative information about Level 3 Fair Value Measurements as of the dates indicated:

    
Quantitative Information About Level 3 Fair Value Measurements
 
(dollars in thousands)
 
Fair Value at
March 31, 2020
 
Valuation Techniques
Unobservable Input
 
Range (Weighted
Average)
 
Impaired loans
        
Residential 1-4 family real estate
 
$
83
 
Market comparables
Selling costs
  
7.25
%
 
       
Liquidation discount
  
4.00
%
Commercial real estate
 
$
1,247
 
Market comparables
Selling costs
  
6.00
%
 
       
Liquidation discount
  
35.00
%
Construction
 
$
74
 
Market comparables
Selling costs
  
7.25
%
 
       
Liquidation discount
  
4.00
%
Other real estate owned
          
Residential 1-4 family
 
$
236
 
Market comparables
Selling costs
  
7.25
%
        
Liquidation discount
  
4.00
%

    
Quantitative Information About Level 3 Fair Value Measurements
 
(dollars in thousands)
 
Fair Value at
December 31,
2019
 
Valuation Techniques
Unobservable Input
 
Range (Weighted
Average)
 
Impaired loans
        
Residential 1-4 family real estate
 
$
74
 
Market comparables
Selling costs
  
7.25
%
 
       
Liquidation discount
  
4.00
%
Commercial real estate
 
$
1,294
 
Market comparables
Selling costs
  
6.00
%
 
       
Liquidation discount
  
35.00
%
Construction
 
$
74
 
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, 2020 Using
 
(dollars in thousands)
 
Carrying Value
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  

Significant Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Assets
            
Cash and cash equivalents
 
$
78,130
  
$
78,130
  
$
-
  
$
-
 
Securities available-for-sale
  
152,608
   
-
   
152,608
   
-
 
Restricted securities
  
3,152
   
-
   
3,152
   
-
 
Loans held for sale
  
2,309
   
-
   
2,309
   
-
 
Loans, net of allowances for loan losses
  
750,550
   
-
   
-
   
739,303
 
Bank owned life insurance
  
27,777
   
-
   
27,777
   
-
 
Accrued interest receivable
  
2,756
   
-
   
2,756
   
-
 
                 
Liabilities
                
Deposits
 
$
902,536
  
$
-
  
$
905,120
  
$
-
 
Overnight repurchase agreements
  
4,817
   
-
   
4,817
   
-
 
Federal Home Loan Bank advances
  
42,000
   
-
   
41,353
   
-
 
Other borrowings
  
1,800
   
-
   
1,800
   
-
 
Accrued interest payable
  
549
   
-
   
549
   
-
 

     
Fair Value Measurements at December 31, 2019 Using
 
(dollars in thousands)
 
Carrying Value
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Assets
            
Cash and cash equivalents
 
$
89,865
  
$
89,865
  
$
-
  
$
-
 
Securities available-for-sale
  
145,715
   
-
   
145,715
   
-
 
Restricted securities
  
2,926
   
-
   
2,926
   
-
 
Loans held for sale
  
590
   
-
   
590
   
-
 
Loans, net of allowances for loan losses
  
738,205
   
-
   
-
   
734,932
 
Bank owned life insurance
  
27,547
   
-
   
27,547
   
-
 
Accrued interest receivable
  
2,762
   
-
   
2,762
   
-
 
                 
Liabilities
                
Deposits
 
$
889,496
  
$
-
  
$
893,584
  
$
-
 
Overnight repurchase agreements
  
11,452
   
-
   
11,452
   
-
 
Federal Home Loan Bank advances
  
37,000
   
-
   
36,747
   
-
 
Other borrowings
  
1,950
   
-
   
1,950
   
-
 
Accrued interest payable
  
620
   
-
   
620
   
-