Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value of Assets and Liabilities [Abstract]

Fair Value, Assets Measured on Recurring Basis

	Fair Value Measurement Using
	Reporting Date
Description	Total		Level 1		Level 2		Level 3
	(In thousands)
March 31, 2019
Available for Sale:
States and political subdivisions	$	98,193	$	-	$	98,193	$	-
Corporate obligations		8,747		-		8,747		-
Mortgage-backed securities-government
sponsored entities		133,681		-		133,681		-
Total	$	240,621	$	-	$	240,621	$	-
Description	Total		Level 1		Level 2		Level 3
	(In thousands)
December 31, 2018
Available for Sale:
States and political subdivisions	$	97,613	$	-	$	97,613	$	-
Corporate obligations		8,640		-		8,640		-
Mortgage-backed securities-government
sponsored entities		137,024		-		137,024		-
Total	$	243,277	$	-	$	243,277	$	-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

			Fair Value Measurement Reporting Date using Reporting Date
(In thousands)
Description	Total		Level 1		Level 2		Level 3
March 31, 2019
Impaired Loans	$	451	$	-	$	-	$	451
Foreclosed Real Estate Owned		1,792		-		-		1,792
December 31, 2018
Impaired Loans	$	1,319	$	-	$	-	$	1,319
Foreclosed Real Estate Owned		1,115		-		-		1,115

Additional Qualitative Information about Level 3 Assets

		Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
March 31, 2019
Impaired loans	$	344	Appraisal of collateral(1)	Appraisal adjustments(2)	10.00-57.58%  (18.93%)
Impaired loans	$	107	Present value of future cash flows	Loan discount rate	4.00%  (4.00%)
Foreclosed real estate owned	$	1,792	Appraisal of collateral(1)	Liquidation Expenses(2)	7.00-68.75%  (9.25%)

	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
December 31, 2018
Impaired loans	$	232	Appraisal of collateral(1)	Appraisal adjustments(2)	10.00-81.54%  (56.06%)
Impaired loans	$	1,087	Present value of future cash flows	Loan discount rate	4.00-6.00%  (5.80%)
Foreclosed real estate owned	$	1,115	Appraisal of collateral(1)	Liquidation Expenses(2)	7.00-85.71%  (7.80%)

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance.

(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.  The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

Fair Value, by Balance Sheet Grouping

	Fair Value Measurements at March 31, 2019
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	19,874	$	19,874	$	19,874	$	-	$	-
Loans receivable, net		855,849		861,129		-		-		861,129
Mortgage servicing rights		176		220		-		-		220
Regulatory stock (1)		3,132		3,132		3,132		-		-
Bank owned life insurance (1)		38,134		38,134		38,134		-		-
Accrued interest receivable (1)		4,089		4,089		4,089		-		-
Financial liabilities:
Deposits		974,415		973,011		611,162		-		361,849
Short-term borrowings (1)		37,824		37,824		37,824		-		-
Other borrowings		47,955		47,977		-		-		47,977
Accrued interest payable (1)		2,457		2,457		2,457		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-

	Fair Value Measurements at December 31, 2018
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	18,348	$	18,348	$	18,348	$	-	$	-
Loans receivable, net		841,730		840,134		-		-		840,134
Mortgage servicing rights		178		220		-		-		220
Regulatory stock (1)		3,926		3,926		3,926		-		-
Bank owned life insurance (1)		37,932		37,932		37,932		-		-
Accrued interest receivable (1)		3,776		3,776		3,776		-		-
Financial liabilities:
Deposits		946,780		945,773		601,604		-		344,169
Short-term borrowings (1)		53,046		53,046		53,046		-		-
Other borrowings		52,284		52,043		-		-		52,043
Accrued interest payable (1)		1,806		1,806		1,806		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-

This financial instrument is carried at cost, which approximates the fair value of the instrument.