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Fair Value (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Balances of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis as of the dates stated.

			Fair Value Measurements as of December 31, 2018 Using
	Balance as of December 31, 2018		Level 1		Level 2		Level 3
Available-for-sale securities:
U. S. Government agencies and mortgage backed securities	$	49,882	$	—	$	49,882	$	—
State and municipal obligations		20,217		—		20,217		—
Corporate bonds		12,133		—		8,462		3,671
Total available-for-sale securities:	$	82,232	$	—	$	78,561	$	3,671
Mortgage servicing rights	$	977	$	—	$	—	$	977
Rabbi trust assets	$	972	$	972	$	—	$	—

			Fair Value Measurements as of December 31, 2017 Using
	Balance as of December 31, 2017		Level 1		Level 2		Level 3
Available-for-sale securities:
U. S. Government agencies and mortgage backed securities	$	49,283	$	—	$	49,283	$	—
State and municipal obligations		21,153		—		21,153		—
Corporate bonds		6,717		—		5,217		1,500
Total available-for-sale securities:	$	77,153	$	—	$	75,653	$	1,500
Mortgage servicing rights	$	999	$	—	$	—	$	999
Rabbi trust assets	$	926	$	926	$	—	$	—

Schedule of Change in Financial Assets Valued Using Level Three Inputs

The following table presents the change in financial assets valued using level 3 inputs for the periods stated.

	MSRs			Corporate Bonds
Balance, January 1, 2018	$	999		$	1,500
Purchases		—			1,421
Impairments		—			—
Fair value adjustments		(22	)		750
Sales		—			—
Balance, December 31, 2018	$	977		$	3,671

	MSRs		Corporate Bonds
Balance, January 1, 2017	$	671	$	—
Purchases		—		—
Acquired in Merger		324		1,500
Impairments		—		—
Fair value adjustments		4		—
Sales		—		—
Balance, December 31, 2017	$	999	$	1,500

Summary of Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes the Company’s assets that were measured at fair value on a nonrecurring basis as of the dates stated.

			Fair Value Measurements as of December 31, 2018 Using
	Balance as of December 31, 2018		Level 1		Level 2		Level 3
Impaired loans, net	$	4,700	$	—	$	—	$	4,700
Other real estate owned, net		3,597		—		—		3,597

			Fair Value Measurements as of December 31, 2017 Using
	Balance as of December 31, 2017		Level 1		Level 2		Level 3
Impaired loans, net	$	3,491	$	—	$	—	$	3,491
Other real estate owned, net		4,284		—		—		4,284

Summary of Quantitative Fair Value Measurements for Level 3

The following tables present quantitative information about Level 3 Fair Value Measurements as of the dates stated.

	Balance as of December 31, 2018		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans, net	$	4,700	Discounted appraised value	Selling Cost	15% - 20% (16%)
			Lack of Marketability		100% (100%)
			Discounted cash flows	Discount Rate	5%-7% (6%)
Other real estate owned, net		3,597	Discounted appraised value	Selling Cost	5% - 19% (8%)
			Lack of Marketability		9% - 100% (28%)

	Balance as of December 31, 2017		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans, net	$	3,491	Discounted appraised value	Selling Cost	6% - 20% (16%)
			Lack of Marketability		50% - 90% (65%)
			Discounted cash flows	Discount Rate	5%-6% (6%)
Other real estate owned, net		4,284	Discounted appraised value	Selling Cost	3% - 13% (8%)
			Lack of Marketability		10% - 100% (16%)

Summary of Assets and Liabilities at Carrying Value and Estimated Fair Value on a Nonrecurring Basis

The following tables summarize the Company’s financial assets and liabilities at carrying values and estimated fair values on a nonrecurring basis as of the dates stated.

	Carrying Value as of		Fair Value as of		Fair Value Measurements as of December 31, 2018 Using
	December 31, 2018		December 31, 2018		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from banks	$	7,685	$	7,685	$	7,685	$	—	$	—
Interest-earning deposits		18,981		18,981		18,981		—		—
Certificates of deposit		3,746		3,746		—		3,746		—
Federal funds sold		625		625		625		—		—
Restricted securities		7,600		7,600		—		—		7,600
Loans receivable, net		894,191		877,114		—		—		877,114
Loans held for sale		368		368		—		368		—
Accrued interest receivable		3,172		3,172		—		3,172		—
Financial Liabilities:
Noninterest-bearing liabilities	$	114,122	$	114,122	$	114,122	$	—	$	—
Savings and other interest-bearing deposits		359,400		359,400		359,400		—		—
Time deposits		368,670		369,347		—		—		369,347
Securities sold under repurchase agreements		6,089		6,089		6,089		—		—
FHLB advances		100,000		99,727		—		99,727		—
Subordinated notes, net		6,893		7,046		—		—		7,046

	Carrying Value as of		Fair Value as of		Fair Value Measurements as of December 31, 2017 Using
	December 31, 2017		December 31, 2017		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from banks	$	9,396	$	9,396	$	9,396	$	—	$	—
Interest-earning deposits		41,971		41,971		41,971		—		—
Certificates of deposit		3,224		3,224		—		3,224		—
Federal funds sold		6,961		6,961		6,961		—		—
Restricted securities		5,787		5,787		—		5,787		—
Loans receivable, net		758,726		774,009		—		—		774,009
Loans held for sale		1,651		1,651		—		1,651		—
Accrued interest receivable		3,194		3,194		—		3,194		—
Financial Liabilities:
Noninterest-bearing liabilities	$	103,037	$	103,037	$	103,037	$	—	$	—
Savings and other interest-bearing deposits		299,820		299,820		299,820		—		—
Time deposits		358,989		356,450		—		—		356,450
Securities sold under repurchase agreements		9,498		9,498		9,498		—		—
FHLB advances		70,000		70,486		—		70,486		—
Subordinated notes, net		6,877		7,000		—		—		7,000