Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

The Company’s estimated fair values of financial instruments are presented in the following tables.


December 31, 2018			Fair Value Measurements
Description of Asset (dollars in thousands)	Carrying Amount	Fair Value	Level 1	Level 2	Level 3
Assets
Investment securities - AFS	$ 119,976	$ 119,976	$ -	$ 119,976	$ -
Investment securities - HTM	96,271	93,745	999	92,746	-
Equity securities carried at fair value through income	4,428	4,428		4,428	-
Non-marketable equity securities in other financial institutions	209	209	-	209	-
FHLB Stock	3,821	3,821	-	3,821	-
Loans Receivable	1,337,129	1,298,465	-	-	1,298,465
Accrued Interest Receivable	4,957	4,957	-	4,957
Investment in BOLI	36,295	36,295	-	36,295	-

Liabilities
Savings, NOW and money market accounts	$ 982,600	$ 982,600	$ -	$ 982,600	$ -
Time deposits	447,029	446,683	-	446,683	-
Long-term debt	20,436	20,568	-	20,568	-
Short term borrowings	35,000	35,016	-	35,016	-
TRUPs	12,000	10,924	-	10,924	-
Subordinated notes	23,000	23,085	-	23,085	-


December 31, 2017			Fair Value Measurements
Description of Asset (dollars in thousands)	Carrying Amount	Fair Value	Level 1	Level 2	Level 3
Assets
Investment securities - AFS	$ 68,164	$ 68,164	$ -	$ 68,164	$ -
Investment securities - HTM	99,246	98,007	1,000	97,007	-
Non-marketable equity securities in other financial institutions	121	121		121
FHLB Stock	7,276	7,276	-	7,276	-
Loans Receivable	1,140,615	1,097,592	-	-	1,097,592
Accrued Interest Receivable	4,511	4,511		4,511
Investment in BOLI	29,398	29,398	-	29,398	-

Liabilities
Savings, NOW and money market accounts	$ 654,632	$ 654,632	$ -	$ 654,632	$ -
Time deposits	451,605	453,644	-	453,644	-
Long-term debt	55,498	57,421	-	57,421	-
Short term borrowings	87,500	87,208	-	87,208	-
TRUPs	12,000	9,400	-	9,400	-
Subordinated notes	23,000	22,400	-	22,400	-