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Fair Value of Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets recorded at fair value on a recurring basis are as follows, in thousands
 
Fair Value
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Other
Unobservable
Inputs
(Level 3)
December 31, 2019
Assets:
Securities available-for-sale:    
U.S. Government-sponsored enterprises (GSEs)$19,000  $—  $19,000  $—  
Municipal securities64,391  —  64,391  —  
Other debt securities3,470  —  3,470  —  
Mortgage-backed securities91,487  —  91,487  —  
Total securities available-for-sale$178,348  $—  $178,348  $—  
Liabilities:
Derivative financial instruments$3,446  $—  $3,446  $—  
 
Fair Value
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Other
Unobservable
Inputs
(Level 3)
December 31, 2018
Assets:
Securities available-for-sale:    
U.S. Government-sponsored enterprises (GSEs)$43,503  $—  $43,503  $—  
Municipal securities55,161  —  55,161  —  
Other debt securities910  —  910  —  
Mortgage-backed securities102,114  —  102,114  —  
Total securities available-for-sale$201,688  $—  $201,688  $—  
Liabilities:
Derivative financial instruments$1,174  $—  $1,174  $—  
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis, (in thousands):
 
Fair Value
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Other
Unobservable
Inputs
(Level 3)
December 31, 2019:
Impaired loans$2,185  $—  $—  $2,185  
OREO1,757  —  —  1,757  

December 31, 2018:
Impaired loans$671  $—  $—  $671  
OREO2,495  —  —  2,495  
For Level 3 assets measured at fair value, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands):
 
 Fair Value
Valuation
Technique
Significant Other
Unobservable Input
Weighted
Average of Input
December 31, 2019:
Impaired loans$2,185  Appraisal and cashflowAppraisal and cashflow discounts22 %
OREO1,757  AppraisalAppraisal discounts29 %
 
December 31, 2018:
Impaired loans$671  AppraisalAppraisal discounts44 %
OREO2,495  AppraisalAppraisal discounts23 %
Fair Value, by Balance Sheet Grouping
The carrying amount and estimated fair value of the Company’s financial instruments at December 31, 2019 and December 31, 2018 are as follows (in thousands): 
 December 31, 2019
Fair Value Measurements Using
Carrying
Amount
Level 1Level 2Level 3
Estimated
Fair Value
Assets:  
Cash and cash equivalents$183,971  183,971  —  —  $183,971  
Securities available-for-sale178,348  —  178,348  —  178,348  
Restricted investments12,913  N/A  N/A  N/A  N/A  
Loans, net1,893,005  —  —  1,879,825  1,879,825  
Liabilities:  
Noninterest-bearing demand deposits364,155  —  364,155  —  364,155  
Interest-bearing demand deposits380,234  —  380,234  —  380,234  
Money Market and Savings deposits623,284  —  623,284  —  623,284  
Time deposits679,541  —  681,902  —  681,902  
Securities sold under agreements to repurchase6,184  —  6,184  —  6,184  
Federal Home Loan Bank advances and other borrowings25,439  —  24,845  —  24,845  
Subordinated debt39,261  —  —  35,868  35,868  
Derivative financial instruments3,446  —  3,446  —  3,446  
 December 31, 2018
Fair Value Measurements Using
Carrying
Amount
Level 1Level 2Level 3
Estimated
Fair Value
Assets:  
Cash and cash equivalents$115,822  115,822  —  —  $115,822  
Securities available-for-sale201,688  —  201,688  —  201,688  
Restricted investments11,499  N/A  N/A  N/A  N/A  
Loans, net1,768,964  —  —  1,766,838  1,766,838  
Liabilities:  
Noninterest-bearing demand deposits319,861  —  319,861  —  319,861  
Interest-bearing demand deposits311,482  —  311,482  —  311,482  
Money Market and Savings deposits641,945  —  641,945  —  641,945  
Time deposits648,675  —  648,169  —  649,169  
Securities sold under agreements to repurchase11,756  —  11,756  —  11,756  
Federal Home Loan Bank advances and other borrowings11,243  —  11,243  —  11,243  
Subordinated debt39,177  —  —  39,190  39,190  
Derivative financial instruments1,174  —  1,174  —  1,174