Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Measurements

Summary of fair value measurements on a recurring basis

							Fair
Dollars are in thousands	Level 1		Level 2		Level 3		Value
September 30, 2020
Securities available for sale:
Obligations of U.S. Government agencies and corporations	$	—	$	5,918	$	—	$	5,918
Obligations of States and political subdivisions		—		38,487		—		38,487
Mortgage-backed securities		—		80,046		—		80,046
Subordinated debt investments		—		3,560		—		3,560
Total securities available for sale	$	—	$	128,011	$	—	$	128,011
December 31, 2019
Securities available for sale:
Obligations of U.S. Government agencies and corporations	$	—	$	10,312	$	—	$	10,312
Obligations of States and political subdivisions		—		34,558		—		34,558
Mortgage-backed securities		—		56,421		—		56,421
Subordinated debt investments		—		3,030		—		3,030
Total securities available for sale	$	—	$	104,321	$	—	$	104,321

Summary of the balances of financial assets measured at fair value on a non-recurring basis

							Fair
Dollars are in thousands	Level 1		Level 2		Level 3		Value
September 30, 2020
Impaired loans	$	—	$	—	$	3,012	$	3,012
OREO		—		—		2,796		2,796
Total	$	—	$	—	$	5,808	$	5,808
December 31, 2019
Impaired loans	$	—	$	—	$	3,885	$	3,885
OREO		—		—		2,417		2,417
Total	$	—	$	—	$	6,302	$	6,302

Schedule of fair value financial assets measured on non-recurring basis valuation techniques

Dollars are in thousands			Valuation	Unobservable	Range of
	Fair Value		Technique	Inputs	Inputs
Impaired loans	$	3,012	Appraisals	Discount to reflect current market conditions and estimated selling costs	8%
OREO		2,796	Appraisals	Discount to reflect current market conditions and estimated selling costs	8%
Total	$	5,808

Dollars are in thousands			Valuation	Unobservable	Range of
	Fair Value		Technique	Inputs	Inputs
Impaired loans	$	3,885	Appraisals	Discount to reflect current market conditions and estimated selling costs	8%
OREO		2,417	Appraisals	Discount to reflect current market conditions and estimated selling costs	8%
Total	$	6,302