Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020


March 31, 2020	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset (dollars in thousands)							Level 1		Level 2		Level 3
Assets
Investment securities - AFS	$	214,163	$	214,163	$	—	$	214,163	$	—

Equity securities carried at fair value through income	4,768		4,768		—		4,768
Non-marketable equity securities in other financial institutions	209		209		—		209		—
FHLB Stock	5,627		5,627		—		5,627		—
Net loans receivable	1,477,087		1,434,088		—		—		1,434,088
Accrued Interest Receivable	5,077		5,077		—		5,077		—
Investment in BOLI	37,399		37,399		—		37,399		—

Liabilities
Savings, NOW and money market accounts	$	1,126,713	$	1,126,713	$	—	$	1,126,713	$	—
Time deposits	385,876		388,902		—		388,902		—
Short-term borrowings	27,000		27,012		—		27,012		—
Long-term debt	67,353		67,435		—		67,435		—
TRUPs	12,000		9,340		—		9,340		—

See the Company’s methodologies disclosed in Note 20 of the Company’s 2019 Form 10-K for the fair value methodologies used as of December 31, 2019:


December 31, 2019	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset (dollars in thousands)							Level 1		Level 2		Level 3
Assets
Investment securities - AFS	$	208,187	$	208,187	$	—	$	208,187	$	—

Equity securities carried at fair value through income	4,669		4,669		—		4,669		—
Non-marketable equity securities in other financial institutions	209		209		—		209		—
FHLB Stock	3,447		3,447		—		3,447		—
Net loans receivable	1,445,109		1,424,506		—		—		1,424,506
Accrued Interest Receivable	5,019		5,019		—		5,019		—
Investment in BOLI	37,180		37,180		—		37,180		—

Liabilities
Savings, NOW and money market accounts	$	1,117,668	$	1,117,668	$	—	$	1,117,668	$	—
Time deposits	394,169		396,492		—		396,492		—
Short-term borrowings	5,000		5,007		—		5,007		—
Long-term debt	40,370		40,588		—		40,588		—
TRUPs	12,000		10,129		—		10,129		—
Subordinated notes	23,000		23,031		—		23,031		—