Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value of Financial Instruments [Abstract]

Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements at December 31, 2020, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities		----	$	18,153			----
Agency mortgage-backed securities, residential		----		94,169			----
Interest rate swap derivatives		----		928			----
Liabilities:
Interest rate swap derivatives		----		(928	)		----

	Fair Value Measurements at December 31, 2019, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities		----	$	16,736			----
Agency mortgage-backed securities, residential		----		88,582			----
Interest rate swap derivatives		----		465			----
Liabilities:
Interest rate swap derivatives		----		(465	)		----

Assets and Liabilities Measured on Nonrecurring Basis

There were no assets or liabilities measured at fair value on a nonrecurring basis at December 31, 2020. Assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2019 are summarized below:

	Fair Value Measurements at December 31, 2019, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial real estate:
Nonowner-occupied	$	----	$	----	$	1,644
Commercial and Industrial		----		----		4,559

Quantitative Information about Level 3 Inputs

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2019:

December 31, 2019	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range	(Weighted Average)
Impaired loans:
Commercial real estate:
Owner-occupied	$	1,644	Sales approach	Adjustment to comparables	0% to 20%		9.7	%
Commercial and Industrial		4,559	Sales approach	Adjustment to comparables	0% to 61%		10.3	%

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at December 31, 2020 and December 31, 2019 are as follows:

			Fair Value Measurements at December 31, 2020 Using:
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	138,303	$	138,303	$	----	$	----	$	138,303
Certificates of deposit in financial institutions		2,500		----		2,500		----		2,500
Securities available for sale		112,322		----		112,322		----		112,322
Securities held to maturity		10,020		----		4,989		5,355		10,344
Loans, net		841,504		----		----		837,387		837,387
Interest rate swap derivatives		928		----		928		----		928
Accrued interest receivable		3,319		----		283		3,036		3,319
Financial Liabilities:
Deposits		993,739		314,777		680,904		----		995,681
Other borrowed funds		27,863		----		29,807		----		29,807
Subordinated debentures		8,500		----		5,556		----		5,556
Interest rate swap derivatives		928		----		928		----		928
Accrued interest payable		1,100		1		1,099		----		1,100

			Fair Value Measurements at December 31, 2019 Using:
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	52,356	$	52,356	$	----	$	----	$	52,356
Certificates of deposit in financial institutions		2,360		----		2,360		----		2,360
Securities available for sale		105,318		----		105,318		----		105,318
Securities held to maturity		12,033		----		6,446		5,958		12,404
Loans, net		766,502		----		----		771,285		771,285
Interest rate swap derivatives		465		----		465		----		465
Accrued interest receivable		2,564		----		315		2,249		2,564
Financial Liabilities:
Deposits		821,471		222,607		599,937		----		822,544
Other borrowed funds		33,991		----		34,345		----		34,345
Subordinated debentures		8,500		----		6,275		----		6,275
Interest rate swap derivatives		465		----		465		----		465
Accrued interest payable		1,589		3		1,586		----		1,589