Fair Value Accounting (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Assets And Liabilities Measured at Fair Value on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018.


	September 30, 2019
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Securities available for sale
US government agencies	$	-	13,765	-	13,765
SBA securities		-	3,804	-	3,804
State and political subdivisions		-	9,240	-	9,240
Asset-backed securities		-	12,273	-	12,273
Mortgage-backed securities		-	50,345	-	50,345
Mortgage loans held for sale		-	40,630	-	40,630
Mortgage loan interest rate lock commitments		-	682	-	682
Total assets measured at fair value on a recurring basis	$	-	130,739	-	130,739

Liabilities
MBS forward sales commitments	$	-	71	-	71
Total liabilities measured at fair value on a recurring basis	$	-	71	-	71

	December 31, 2018
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Securities available for sale:
US government agencies	$	-	8,782	-	8,782
SBA securities		-	3,525	-	3,525
State and political subdivisions		-	8,356	-	8,356
Asset-backed securities		-	9,558	-	9,558
Mortgage-backed securities		-	44,684	-	44,684
Mortgage loans held for sale		-	9,241	-	9,241
Mortgage loan interest rate lock commitments		-	345	-	345
Total assets measured at fair value on a recurring basis	$	-	84,491	-	84,491

Liabilities
MBS forward sales commitments	$	-	121	-	121
Total liabilities measured at fair value on a recurring basis	$	-	121	-	121

Schedule of Assets And Liabilities Measured at Fair Value on Nonrecurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2019 and December 31, 2018.


	As of September 30, 2019
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Impaired loans	$	-	4,357	6,948	11,305
Total assets measured at fair value on a nonrecurring basis	$	-	4,357	6,948	11,305


	As of December 31, 2018
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Impaired loans	$	-	2,190	8,368	10,558
Total assets measured at fair value on a nonrecurring basis	$	-	2,190	8,368	10,558

Schedule of Estimated Fair Values of the Company's Financial Instruments

The estimated fair values of the Company’s financial instruments at September 30, 2019 and December 31, 2018 are as follows:


	September 30, 2019
	Carrying		Fair
(dollars in thousands)	Amount		Value	Level 1	Level 2	Level 3
Financial Assets:
Other investments, at cost	$	3,307	3,307	-	-	3,307
Loans¹		1,809,760	1,787,368	-	-	1,787,368
Financial Liabilities:
Deposits		1,899,295	1,809,500	-	1,809,500	-
FHLB and other borrowings		25,000	26,166	-	26,166	-
Junior subordinated debentures		35,887	33,567	-	33,567	-

	December 31, 2018
	Carrying		Fair
(dollars in thousands)	Amount		Value	Level 1	Level 2	Level 3
Financial Assets:
Other investments, at cost	$	4,121	4,121	-	-	4,121
Loans¹		1,648,998	1,618,618	-	-	1,618,618
Financial Liabilities:
Deposits		1,648,136	1,515,123	-	1,515,123	-
FHLB and other borrowings		50,000	50,147	-	50,147	-
Junior subordinated debentures		13,403	14,807	-	14,807	-