Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Measurements [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

The tables below present the recorded amount of assets measured at fair value on a recurring basis at June 30, 2017 and December 31, 2016. No assets were transferred from one hierarchy level to another during the first six months of 2017 or 2016.

					Significant
					Other		Significant
			Quoted		Observable		Unobservable
			Prices		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2017
Securities available for sale:
U.S. Government agencies	$	49,216	$	-	$	49,216	$	-
Mortgage-backed		151,713		-		151,713		-
Equity		658		-		658		-
Total	$	201,587	$	-	$	201,587	$	-
					Significant
					Other		Significant
			Quoted		Observable		Unobservable
			Prices		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2016
Securities available for sale:
U.S. Government agencies	$	34,318	$	-	$	34,318	$	-
Mortgage-backed		128,944		-		128,944		-
Equity		640		-		640		-
Total	$	163,902	$	-	$	163,902	$	-

Fair Value of Assets Measured on Nonrecurring Basis

The tables below present the recorded amount of assets measured at fair value on a nonrecurring basis at June 30, 2017 and December 31, 2016. The assets in the following table were transferred during 2016 from Level 2 to Level 3, based on management’s reassessment an evaluation of the inputs in relation to impaired loans and foreclosed assets. This reassessment resulted in management conclusion that the inputs for these assets were more reflective of Level 3 as unobservable inputs and applied retrospectively to prior periods reported.

					Significant
					Other		Significant
			Quoted		Observable		Unobservable
			Prices		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2017
Impaired loans
Construction	$	6,333	$	-	$	-	$	6,333
Residential real estate		6,184		-		-		6,184
Commercial real estate		5,402		-		-		5,402
Commercial		345		-		-		345
Consumer		-		-		-		-
Total impaired loans		18,264		-		-		18,264
Other real estate owned		2,302		-		-		2,302
Total assets measured at fair value on a
nonrecurring basis	$	20,566	$	-	$	-	$	20,566

					Significant
					Other		Significant
			Quoted		Observable		Unobservable
			Prices		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2016
Impaired loans
Construction	$	6,368	$	-	$	-	$	6,368
Residential real estate		7,461		-		-		7,461
Commercial real estate		5,903		-		-		5,903
Commercial		-		-		-		-
Consumer		99		-		-		99
Total impaired loans		19,831		-		-		19,831
Other real estate owned		2,477		-		-		2,477
Total assets measured at fair value on a
nonrecurring basis	$	22,308	$	-	$	-	$	22,308

Schedule of Estimated Fair Values of Financial Assets and Liabilities

The following table provides information on the estimated fair values of the Company’s financial assets and liabilities that are reported in the balance sheets at their carrying amounts. The financial assets and liabilities have been segregated by their classification level in the fair value hierarchy.

	June 30, 2017				December 31, 2016
			Estimated				Estimated
	Carrying		Fair		Carrying		Fair
(Dollars in thousands)	Amount		Value		Amount		Value
Financial assets
Level 1 inputs
Cash and cash equivalents	$	54,079	$	54,079	$	75,938	$	75,938
Level 2 inputs
Investment securities held to maturity	$	6,411	$	6,663	$	6,704	$	6,806
Loans, net		1,025,473		1,027,011		862,799		867,594
Financial liabilities
Level 2 inputs
Deposits	$	1,196,258	$	1,124,815	$	997,489	$	929,573
Short-term borrowings		3,325		3,325		3,203		3,203