. Fair Value Measurements and Fair Values of Financial Instruments

Management uses its best judgment in estimating the fair value of the Company

’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are

not

necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective year-ends and have

not

been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates

may

be different than the amounts reported at each year-end.

The Company follows the guidance issued under ASC

820,

Fair Value Measurement

which defines fair value, establishes a framework for measuring fair value under GAAP, and identifies required disclosures on fair value measurements.

ASC

820

establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level

measurements) and the lowest priority to unobservable inputs (Level

measurements). The

three

levels of the fair value hierarchy under ASC

820

are as follows:

Level

: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level

: Quoted prices in markets that are

not

active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level

: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported with little or

market activity).

An asset

or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at

December 31,

201

and

December 31, 2016

were as follows:

(dollars in thousands)	Total		(Level 1) Quoted Prices in Active Markets for Identical Assets		(Level 2) Significant Other Observable Inputs		(Level 3) Significant Unobservable Inputs

December 3 1 , 2017
Assets:

Collateralized mortgage obligations	$	320,241	$	-	$	320,241	$	-
Agency mortgage-backed securities		54,866		-		54,866		-
Municipal securities		15,100		-		15,100		-
Corporate bonds		60,282		-		57,196		3,086
Asset-backed securities		13,452		-		13,452		-
Trust Preferred Securities		489		-		-		489
Securities Available for Sale	$	464,430	$	-	$	460,855	$	3,575

Mortgage Loans Held for Sale	$	43,375	$	-	$	43,375	$	-
SBA Servicing Assets		5,243		-		-		5,243
Interest Rate Lock Commitments		363		-		363		-
Best Efforts Forward Loan Sales Commitments		5		-		5		-
Mandatory Forward Loan Sales Commitments		19		-		19		-

Liabilities:

Interest Rate Lock Commitments		1		-		1		-
Best Efforts Forward Loan Sales Commitments		93		-		93		-
Mandatory Forward Loan Sales Commitments		195		-		195		-

December 31, 2016
Assets:

Collateralized mortgage obligations	$	224,765	$	-	$	224,765	$	-
Agency mortgage-backed securities		36,710		-		36,710		-
Municipal securities		26,547		-		26,547		-
Corporate bonds		64,748		-		61,777		2,971
Asset-backed securities		15,149		-		15,149		-
Trust Preferred Securities		1,820		-		-		1,820
Securities Available for Sale	$	369,739	$	-	$	364,948	$	4,791

Mortgage Loans Held for Sale	$	23,911	$	-	$	23,911	$	-
SBA Servicing Assets		5,352		-		-		5,352
Interest Rate Lock Commitments		439		-		439		-
Best Efforts Forward Loan Sales Commitments		103		-		103		-
Mandatory Forward Loan Sales Commitments		229		-		229		-

Liabilities:

Interest Rate Lock Commitments		55		-		55		-
Best Efforts Forward Loan Sales Commitments		125		-		125		-
Mandatory Forward Loan Sales Commitments		38		-		38		-

The following table presents an analysis of the activity in the SBA servicing assets for the years ended

December 31,

201

2016,

and

2015:

(dollars in thousands)	201 7			201 6			201 5
Beginning balance, January 1 st	$	5,352		$	4,886			4,099
Additions		1,078			1,541			801
Fair value adjustments		(1,187	)		(1,075	)		(14	)
Ending balance, December 31 st	$	5,243		$	5,352			4,886

Fair value adjustments are recorded

as loan and servicing fees on the statement of income. Servicing fee income,

not

including fair value adjustments, totaled

$1.8

million,

$1.8

million, and

$1.7

million for the years ended

December 31, 2017,

2016,

and

2015,

respectively.

Total loans in the amount of

$204.9

million at

December 31, 2017

and

$191.0

million at

December 31, 2016

were serviced for others

The following table presents a reconciliation of the securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level

) for the years ended

December 31,

201

2016,

and

2015:

	Year Ended December 31, 201 7					Year Ended December 31, 201 6					Year Ended December 31, 201 5
Level 3 Investments Only (dollars in thousands)	Trust Preferred Securities			Corporate Bonds		Trust Preferred Securities			Corporate Bonds		Trust Preferred Securities			Corporate Bonds
Balance, January 1,	$	1,820		$	2,971	$	1,883		$	2,834	$	3,193		$	3,005
Security transferred to Level 3 measurement		-			-		-			-		-			-
Unrealized (losses) gains		1,006			115		(56	)		137		882			(171	)
Paydowns		-			-		-			-		(19	)		-
Proceeds from sales		(1,539	)		-		-			-		(1,952	)		-
Realized losses		(798	)		-		-			-		(218	)		-
Impairment charges on Level 3		-			-		(7	)		-		(3	)		-
Balance, December 31,	$	489		$	3,086	$	1,820		$	2,971	$	1,883		$	2,834

For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at

December 31,

201

and

2016,

respectively, were as follows:

(dollars in thousands)	Total		(Level 1) Quoted Prices in Active Markets for Identical Assets		(Level 2) Significant Other Observable Inputs		(Level 3) Significant Unobservable Inputs
December 31, 201 7:
Impaired loans	$	7,322	$	-	$	-	$	7,322
Other real estate owned		5,727		-		-		5,727

December 31, 201 6:
Impaired loans	$	9,110	$	-	$	-	$	9,110
Other real estate owned		8,563		-		-		8,563

The table below presents additional

quantitative information about Level

assets measured at fair value (dollars in thousands):

	Quantitative Information about Level 3 Fair Value Measurements
Asset Description	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)
December 3 1 , 2017

Corporate bonds	$	3,086	Discounted Cash Flows	Discount Rate		(5.99%)

Trust preferred security	$	489	Discounted Cash Flows	Discount Rate		(8.33%)

SBA servicing assets	$	5,243	Discounted Cash Flows	Conditional Prepayment Rate		(7.85%)

				Discount Rate		(10.50%)

Impaired loans	$	7,322	Appraised Value of Collateral (1)	Liquidation expenses (2)		10%	-	21%	(14%)	(3)

Other real estate owned	$	5,727	Appraised Value of Collateral (1)	Liquidation expenses (2)		(22%)				(3)

			Sales Price	Liquidation expenses (2)		4%	-	7%	(7%)	(3)
December 31, 2016

Corporate bonds	$	2,971	Discounted Cash Flows	Discount Rate		(4.68%)

Trust preferred securities	$	1,820	Discounted Cash Flows	Discount Rate		8.85%	-	9.35%	(9.08%)

SBA servicing assets	$	5,352	Discounted Cash Flows	Conditional Prepayment Rate		(6.12%)

				Discount Rate		(10.00%)

Impaired loans	$	9,110	Appraised Value of Collateral (1)	Liquidation expenses (2)		7%	-	20%	(11%)	(3)

			Sales Price	Liquidation expenses (2)		(7%)				(3)

Other real estate owned	$	8,563	Appraised Value of Collateral (1)	Liquidation expenses (2)		5%	-	76%	(17%)	(3)

			Sales Price	Liquidation expenses (2)		7%	-	8%	(7%)	(3)

(

)

Fair value is generally determined through independent appraisals of the underl

ying collateral, which include Level

inputs that are

not

identifiable.

(

)

Appraisals

may

be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

(

)

The range and weighted average of qualitative factors such as economic conditions and estimated liquidation expenses are presented

as a percent of the appraised value.

The significant unobservable inputs for impaired loans and other real estate owned are the appraised value or an agreed upon sales price. These values are adjusted for estimated costs to sell which are incremental direct costs to transact a sale such as broker commissions, legal fees, closing costs and title transfer fees. The costs must be considered essential to the sale and would

not

have been incurred if the decision to sell had

not

been made. The costs to sell are based on costs associated with the Company’s actual sales of other real estate owned which are assessed annually.

Fair Value Assumptions

The following information should

not

be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company

’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies

may

not

be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at

December 31, 2017

and

December

31,

2016:

Cash and Cash Equivalents (Carried at Cost)

The carrying amounts reported in the balance sheet for cash and cash equivalents approximate those assets

’ fair values.

Investment Securities

The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level

), or matrix pricing (Level

), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. For certain securities, which are

not

traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments, are generally based on available market evidence (Level

). In the absence of such evidence, management’s best estimate is used. Management’s best estimate consists of both internal and external support on certain Level

investments. Internal cash flow models using a present value formula that includes assumptions market participants would use along with indicative exit pricing obtained from broker/dealers (where available) were used to support fair values of certain Level

investments.

The types of instruments valued based on matrix pricing in active ma

rkets include all of the Company’s U.S. government and agency securities, corporate bonds, asset backed securities, and municipal obligations. Such instruments are generally classified within Level

of the fair value hierarchy. As required by ASC

820

10,

the Company does

not

adjust the matrix pricing for such instruments.

Level

is for positions that are

not

traded in active markets or are subject to transfer restrictions, and

may

be adjusted to reflect illiquidity and/or non-transferability, with such adjustment generally based on available market evidence. In the absenc

e of such evidence, management’s best estimate is used. Subsequent to inception, management only changes Level

inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending

third

-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalizations and other transactions across the capital structure, offerings in the equity or debt markets, and changes in financial ratios or cash flows. The Level

investment securities classified as available for sale are comprised of a single trust preferred security and a single corporate bond.

The trust preferred security

is a pool of similar securities that are grouped into an asset structure commonly referred to as collateralized debt obligations (“CDOs”) which consist of the debt instruments of various banks, diversified by the number of participants in the security as well as geographically.

The secondary market for this security has become inactive, and therefore this security is classified as a Level

security. The fair value analysis does

not

reflect or represent the actual terms or prices at which any party could purchase the security. There is currently a limited secondary market for the security and there can be

assurance that any secondary market for the security will expand.

An independent,

third

party pricing service is used to estimate the c

urrent fair market value of the CDO held in the investment securities portfolio. The calculations used to determine fair value are based on the attributes of the trust preferred security, the financial condition of the issuers of the trust preferred security, and market based assumptions. The INTEX CDO Deal Model Library was utilized to obtain information regarding the attributes of the security and its specific collateral as of

December 31, 2017

and

December 31, 2016.

Financial information on the issuers was also obtained from Bloomberg, the FDIC, and SNL Financial. Both published and unpublished industry sources were utilized in estimating fair value. Such information includes loan prepayment speed assumptions, discount rates, default rates, and loss severity percentages.

e fair market valuation for the CDO was determined based on discounted cash flow analyses. The cash flows are primarily dependent on the estimated speeds at which the trust preferred security is expected to prepay, the estimated rates at which the trust preferred security is expected to defer payments, the estimated rates at which the trust preferred security is expected to default, and the severity of the losses on the security that does default.

Increases (decreases) in actual or expected issuer defaults tend to

decrease (increase) the fair value of senior and mezzanine tranches of CDOs. The value of the Company’s mezzanine tranches of the CDO is also affected by expected future interest rates. However, due to the structure of the security, timing of cash flows, and secondary effects on the financial performance of the underlying issuers, the effects of changes in future interest rates on the fair value of the Company’s holdings are

not

quantifiably estimable.

Also included in Lev

investment securities classified as available for sale is a corporate bond transferred from Level

2010

that is

not

actively traded.

Impairment would depend on the repayment ability of the underlying issuer, which is assessed through a detailed quarterly review of the issuer’s financial statements. The issuer is a “well capitalized” financial institution as defined by federal banking regulations and has demonstrated the ability to raise additional capital, when necessary, through the public capital markets. The fair value of this corporate bond is estimated by obtaining a price of a comparable floating rate debt instrument through Bloomberg.

SBA Loans Held For Sale (Carried at Lower of Cost or Fair Value)

The fair values of SBA loans held for s

ale is determined, when possible, using quoted secondary-market prices and are classified within Level

of the fair value hierarchy. If

such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for the specific attributes of that loan. The Company did

not

write down any loans held for sale at

December 31, 2017

and

December

31,

2016.

Mortgage Loans Held for Sale (Carried at Fair Value)

The fair value of mortgage loans held for sale is determined by obtaining prices at which they could be sold in the principal market at the measurement date and are classified within Level

of the fair value hierarchy. In

2016,

Republic elected to adopt

the fair value option for its mortgage loans held for sale portfolio in order to more accurately reflect their economic value. All mortgage loans held for sale originated subsequent to the election date are carried at fair value. All loans held for sale originated prior to the election date were sold prior to

December 31, 2016.

Interest income on loans held for sale, totaled

$976,000

and

$283,000

for the

twelve

months ended

December 31, 2017

and

December 31, 2016,

respectively, are included in interest and fees in the statements of income.

The following table reflects the difference between the carrying amount of mortgage

loans held for sale, measured at fair value and the aggregate unpaid principal amount that Republic is contractually entitled to receive at maturity as of

December 31, 2017

and

December 31, 2016 (

dollars in thousands):

	Carrying Amount		Aggregate Unpaid Principal Balance		Excess Carrying Amount Over Aggregate Unpaid Principal Balance
Mortgage loans held for sale

December 31, 2017	$	43,375	$	42,046	$	1,329

December 31, 2016	$	23,911	$	23,428	$	483

Changes in the excess carrying amount over aggregate unpaid principal balance are recorded in the statement of income in mortgage banking income

Republic did

not

have any mortgage loans held for sale recorded at fair value that were

or more days past due and on non-accrual at

December 31, 2017

and

December 31, 2016.

Interest Rate Lock Commitments (“

IRLC”)

The fair value of Republic

’s IRLC instruments are based upon the underlying loans measured at fair value on a recurring basis and the probability of such commitments being exercised. Due to observable market data inputs used by Republic, IRLCs are classified within Level

of the valuation hierarchy.

Best Efforts Forward Loan Sales Commitments

Best efforts forward loan sales commitments are classified within Level

of the valuation hierarc

hy. Best efforts forward loan sales commitments fix the forward sales price that will be realized upon the sale of mortgage loans into the secondary market. Best efforts forward loan sales commitments are entered into for loans at the time the borrower commitment is made. These best efforts forward loan sales commitments are valued using the committed price to the counterparty against the current market price of the interest rate lock commitment or mortgage loan held for sale.

Mandatory Forward Loan Sales

Commitments

Fair values for mandatory forward loan sales commitments are based on fair values of the underlying mortgage loans and the probability of such commitments being exercised. Due to the observable inputs used by Republic, best efforts mandatory

loan sales commitments are classified within Level

of the valuation hierarchy.

Loans Receivable (Carried at Cost)

The fair values of loans receivable, excluding all nonaccrual loans and accruing loans deemed impaired with specific loan allowances, are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit a

nd interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with

significant change in credit risk, fair values are based on carrying values.

Due to the significant judgment involved in evaluating credit quality, loans are classified within Level

of the fair value hierarchy.

Impaired Loans (Carried at Lower of Cos

t or Fair Value)

Impaired loans are those that the Company has measured impairment based on the fair value of the loan

’s collateral. Fair value is generally determined based upon independent

third

party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level

fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value consists of the loan balances less any valuation allowance. The valuation allowance amount is calculated as the difference between the recorded investment in a loan and the present value of expected future cash flows or it is calculated based on discounted collateral values if the loans are collateral dependent.

her Real Estate Owned (Carried at Lower of Cost or Fair Value)

These assets are carried at the lower of c

ost or fair value. At

December 31, 2017

and

December 31, 2016,

these assets are carried at current fair value and classified within Level

of the fair value hierarchy.

SBA Servicing Asset (Carried at Fair Value)

The SBA servicing asset is initially recorded when loans are sold and the servicing rights are retained and recorded on the balance sheet. An updated fair value is obtained from an indepen

dent

third

party on a quarterly basis and adjustments are presented as loan and servicing fees on the statement of income. The valuation begins with the projection of future cash flows for each asset based on their unique characteristics, the Company’s market-based assumptions for prepayment speeds and estimated losses and recoveries. The present value of the future cash flows are then calculated utilizing the Company’s market-based discount ratio assumptions. In all cases, the Company’s models expected payments for every loan for each quarterly period in order to create the most detailed cash flow stream possible.

The Company uses assumptions and estimates in determining the impairment of the SBA servicing asset. These assumptions include prepayment speeds and discount rates commensurate with the risks involved and comparable to assumptions used by participants to

value and bid serving rights available for sale in the market. At

December 31, 2017

and

December 31, 2016,

the sensitivity of the current fair value of the SBA loan servicing rights to immediate

10%

and

20%

adverse changes in key assumptions are included in the accompanying table.

(dollars in thousands)	December 3 1 , 2017			December 31, 2016

SBA Servicing Asset

Fair Value of SBA Servicing Asset	$	5,243		$	5,352

Composition of SBA Loans Serviced for Others
Fixed-rate SBA loans		2	%		0	%
Adjustable-rate SBA loans		98	%		100	%
Total		100	%		100	%

Weighted Average Remaining Term (years)		20.5			21.1

Prepayment Speed		7.85	%		6.12	%
Effect on fair value of a 10% increase	$	(171	)	$	(161	)
Effect on fair value of a 20% increase		(333	)		(316	)

Weighted Average Discount Rate		10.50	%		10.00	%
Effect on fair value of a 10% increase	$	(211	)	$	(226	)
Effect on fair value of a 20% increase		(407	)		(435	)

The sensitivity calculations above are hypothetical and should

not

be considered to be predictive of future performance. As indicated, changes in value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in value

may

not

be linear. Also in this table, the effect of an adverse variation in a particular assumption on the value of the SBA servicing rights is calculated without changing any other assumption. While in reality, changes in

one

factor

may

magnify or counteract the effect of the change.

Restricted Stock (Carried at Cost)

The carrying amount of restricted stock approximates fair value, and

considers the limited marketability of such securities. Restricted stock is classified within Level

of the fair value hierarchy.

Accrued Interest Receivable and Payable (Carried at Cost)

The carrying amounts of accrued interest receivable and accrued

interest payable approximates fair value and are classified within Level

of the fair value hierarchy.

Deposit Liabilities (Carried at Cost)

The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and mo

ney market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits. Deposit liabilities are classified within Level

of the fair value hierarchy.

Subordinated Debt (Carried at Cost)

Fair values of subordinated debt are estimated using discounted cash flow analysis, based on market rates currently offered on such debt with similar credit risk characteristics, terms and remaining maturity. Due to the significant judgment involved in d

eveloping the spreads used to value the subordinated debt, it is classified within Level

of the fair value hierarchy.

Off-Balance Sheet Financial Instruments (Disclosed at notional amounts)

Fair values for the

Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing.

The estimated fair values of the Company

’s financial instruments at

December 31, 2017

were as follows:

	Fair Value Measurements at December 31, 201 7
(dollars in thousands)	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Balance Sheet Data
Financial assets:
Cash and cash equivalents	$	61,942	$	61,942	$	61,942	$	-	$	-
Investment securities available for sale		464,430		464,430		-		460,855		3,575
Investment securities held to maturity		472,213		463,799		-		463,799		-
Restricted stock		1,918		1,918		-		1,918		-
Loans held for sale		45,700		45,714		-		43,375		2,339
Loans receivable, net		1,153,679		1,120,305		-		-		1,120,305
SBA servicing assets		5,243		5,243		-		-		5,243
Accrued interest receivable		7,009		7,009		-		7,009		-
Interest rate lock commitments		363		363		-		363		-
Best efforts forward loan sales commitments		5		5		-		5		-
Mandatory forward loan sales commitments		19		19		-		19		-

Financial liabilities:
Deposits
Demand, savings and money market	$	1,946,558	$	1,946,558	$	-	$	1,946,558	$	-
Time		116,737		115,673		-		115,673		-
Subordinated debt		21,681		18,458		-		-		18,458
Accrued interest payable		293		293		-		293		-
Interest rate lock commitments		1		1		-		1		-
Best efforts forward loan sales commitments		93		93		-		93		-
Mandatory forward loan sales commitments		195		195		-		195		-

Off-Balance Sheet Data
Commitments to extend credit		-		-		-		-		-
Standby letters-of-credit		-		-		-		-		-

The estimated fair values of the Company

’s financial instruments at

December 31, 2016

were as follows:

	Fair Value Measurements at December 31, 2016
(dollars in thousands)	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Balance Sheet Data
Financial assets:
Cash and cash equivalents	$	34,554	$	34,554	$	34,554	$	-	$	-
Investment securities available for sale		369,739		369,739		-		364,948		4,791
Investment securities held to maturity		432,499		425,183		-		425,183		-
Restricted stock		1,366		1,366		-		1,366		-
Loans held for sale		28,065		28,267		-		23,911		4,356
Loans receivable, net		955,817		937,944		-		-		937,944
SBA servicing assets		5,352		5,352		-		-		5,352
Accrued interest receivable		5,497		5,497		-		5,497		-
Interest rate lock commitments		439		439		-		439		-
Best efforts forward loan sales commitments		103		103		-		103		-
Mandatory forward loan sales commitments		229		229		-		229		-

Financial liabilities:
Deposits
Demand, savings and money market	$	1,566,506	$	1,566,506	$	-	$	1,566,506	$	-
Time		111,164		110,988		-		110,988		-
Subordinated debt		21,881		16,286		-		-		16,286
Accrued interest payable		444		444		-		444		-
Interest rate lock commitments		55		55		-		55		-
Best efforts forward loan sales commitments		125		125		-		125		-
Mandatory forward loan sales commitments		38		38		-		38		-

Off-Balance Sheet Data
Commitments to extend credit		-		-		-		-		-
Standby letters-of-credit		-		-		-		-		-