XML 59 R30.htm IDEA: XBRL DOCUMENT v3.19.3
Fair Value of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 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)



 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

States and political subdivisions

 

$

 79,527 

 

$

 -

 

$

 79,527 

 

$

 -

Corporate obligations

 

 

 6,201 

 

 

 -

 

 

 6,201 

 

 

 -

Mortgage-backed securities-government

 

 

 

 

 

 

 

 

 

 

 

 

  sponsored entities

 

 

 125,471 

 

 

 -

 

 

 125,471 

 

 

 -

Total

 

$

 211,199 

 

$

 -

 

$

 211,199 

 

$

 -



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

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 Using Reporting Date



 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Impaired Loans

 

$

 514 

 

$

 -

 

$

 -

 

$

 514 

Foreclosed Real Estate Owned

 

 

 1,572 

 

 

 -

 

 

 -

 

 

 1,572 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

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)

September 30, 2019

 

 

 

 

 

 

 

Impaired loans

$

 311 

 

Appraisal of collateral(1)

Appraisal adjustments(2)

 

10.00-10.00%  (10.00%)

Impaired loans

$

 203 

 

Present value of future cash flows

Loan discount rate

 

4.00-6.97%  (5.35%)



 

 

 

 

 

 

 

Foreclosed real estate owned

$

 1,572 

 

Appraisal of collateral(1)

Liquidation Expenses(2)

 

7.00-10.00%  (8.16%)











 

 

 

 

 

 

 



 

 

 

 

 

 

 



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 September 30, 2019



Carrying Amount

 

Fair Value

 

Level 1

 

Level 2

 

Level 3

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents (1)

$

 20,915 

 

$

 20,915 

 

$

 20,915 

 

$

 -

 

$

 -

Loans receivable, net

 

 897,177 

 

 

 917,146 

 

 

 -

 

 

 -

 

 

 917,146 

Mortgage servicing rights

 

 180 

 

 

 220 

 

 

 -

 

 

 -

 

 

 220 

Regulatory stock (1)

 

 3,137 

 

 

 3,137 

 

 

 3,137 

 

 

 -

 

 

 -

Bank owned life insurance (1)

 

 38,562 

 

 

 38,562 

 

 

 38,562 

 

 

 -

 

 

 -

Accrued interest receivable (1)

 

 3,726 

 

 

 3,726 

 

 

 3,726 

 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 974,433 

 

 

 977,729 

 

 

 632,151 

 

 

 -

 

 

 345,045 

Short-term borrowings (1)

 

 52,778 

 

 

 52,778 

 

 

 52,778 

 

 

 -

 

 

 -

Other borrowings

 

 35,906 

 

 

 36,229 

 

 

 -

 

 

 -

 

 

 36,229 

Accrued interest payable (1)

 

 2,623 

 

 

 2,623 

 

 

 2,623 

 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -















(1)

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