Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

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, 2020
Available for Sale:
States and political subdivisions	$	59,521	$	-	$	59,521	$	-
Corporate obligations		3,065		-		3,065		-
Mortgage-backed securities-government
sponsored entities		134,412		-		134,412		-
Total	$	196,998	$	-	$	196,998	$	-
Description	Total		Level 1		Level 2		Level 3
	(In thousands)
December 31, 2019
Available for Sale:
States and political subdivisions	$	71,305	$	-	$	71,305	$	-
Corporate obligations		4,100		-		4,100		-
Mortgage-backed securities-government
sponsored entities		134,800		-		134,800		-
Total	$	210,205	$	-	$	210,205	$	-

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
March 31, 2020
Impaired Loans	$	1,531	$	-	$	-	$	1,531
Foreclosed Real Estate Owned		1,077		-		-		1,077
December 31, 2019
Impaired Loans	$	1,584	$	-	$	-	$	1,584
Foreclosed Real Estate Owned		1,556		-		-		1,556

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, 2020
Impaired loans	$	1,531	Appraisal of collateral(1)	Appraisal adjustments(2)	10.00%  (10.00%)
Foreclosed real estate owned	$	1,077	Appraisal of collateral(1)	Liquidation Expenses(2)	0-7.00%  (6.27%)

	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
December 31, 2019
Impaired loans	$	1,531	Appraisal of collateral(1)	Appraisal adjustments(2)	10.00%  (10.00%)
Impaired loans	$	53	Present value of future cash flows	Loan discount rate	4.00-6.97%  (5.55%)
				Probability of default	0%
Foreclosed real estate owned	$	1,556	Appraisal of collateral(1)	Liquidation Expenses(2)	0-7.00%  (4.34%)

(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, 2020
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	38,418	$	38,418	$	38,418	$	-	$	-
Loans receivable, net		919,477		969,839		-		-		969,839
Mortgage servicing rights		190		226		-		-		226
Regulatory stock (1)		3,770		3,770		3,770		-		-
Bank owned life insurance (1)		38,971		38,971		38,971		-		-
Accrued interest receivable (1)		3,669		3,669		3,669		-		-
Financial liabilities:
Deposits		990,160		994,357		612,778		-		381,579
Short-term borrowings (1)		40,656		40,656		40,656		-		-
Other borrowings		51,350		52,410		-		-		52,410
Accrued interest payable (1)		2,895		2,895		2,895		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-

	Fair Value Measurements at December 31, 2019
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	15,415	$	15,415	$	15,415	$	-	$	-
Loans receivable, net		916,072		943,143		-		-		943,143
Mortgage servicing rights		187		226		-		-		226
Regulatory stock (1)		4,844		4,844		4,844		-		-
Bank owned life insurance (1)		38,763		38,763		38,763		-		-
Accrued interest receivable (1)		3,719		3,719		3,719		-		-
Financial liabilities:
Deposits		957,529		961,120		596,811		-		364,309
Short-term borrowings (1)		62,256		62,256		62,256		-		-
Other borrowings		56,438		56,618		-		-		56,618
Accrued interest payable (1)		2,432		2,432		2,432		-		-
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.