Fair Value Accounting (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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 June 30, 2020 and December 31, 2019.

	June 30, 2020
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Securities available for sale
US government agencies	$	-	498	-	498
SBA securities		-	494	-	494
State and political subdivisions		-	10,946	-	10,946
Asset-backed securities		-	12,059	-	12,059
Mortgage-backed securities		-	47,000	-	47,000
Mortgage loans held for sale		-	44,169	-	44,169
Mortgage loan interest rate lock commitments		-	2,373	-	2,373
Total assets measured at fair value on a recurring basis	$	-	117,539	-	117,539
Liabilities
MBS forward sales commitments	$	-	589	-	589
Total liabilities measured at fair value on a recurring basis	$	-	589	-	589

	December 31, 2019
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Securities available for sale:
US government agencies	$	-	499	-	499
SBA securities		-	531	-	531
State and political subdivisions		-	4,184	-	4,184
Asset-backed securities		-	13,167	-	13,167
Mortgage-backed securities		-	49,313	-	49,313
Mortgage loans held for sale		-	27,046	-	27,046
Mortgage loan interest rate lock commitments		-	344	-	344
Total assets measured at fair value on a recurring basis	$	-	95,084	-	95,084
Liabilities
MBS forward sales commitments	$	-	39	-	39
Total liabilities measured at fair value on a recurring basis	$	-	39	-	39

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 June 30, 2020 and December 31, 2019.

	As of June 30, 2020
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Impaired loans	$	-	9,570	4,773	14,343
Total assets measured at fair value on a nonrecurring basis	$	-	9,570	4,773	14,343

	As of December 31, 2019
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Impaired loans	$	-	5,634	4,941	10,575
Total assets measured at fair value on a nonrecurring basis	$	-	5,634	4,941	10,575

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

The estimated fair values of the Company’s financial instruments at June 30, 2020 and December 31, 2019 are as follows:

	June 30, 2020
	Carrying		Fair
(dollars in thousands)	Amount		Value	Level 1	Level 2	Level 3
Financial Assets:
Other investments, at cost	$	2,610	2,610	-	-	2,610
Loans1		1,988,857	1,952,870	-	-	1,952,870
Financial Liabilities:
Deposits		2,188,643	2,107,097	-	2,107,097	-
Subordinated debentures		35,944	29,971	-	29,971	-

	December 31, 2019
	Carrying		Fair
(dollars in thousands)	Amount		Value	Level 1	Level 2	Level 3
Financial Assets:
Other investments, at cost	$	6,948	6,948	-	-	6,948
Loans1		1,914,870	1,900,216	-	-	1,900,216
Financial Liabilities:
Deposits		1,876,124	1,772,121	-	1,772,121	-
FHLB and other borrowings		110,000	109,737	-	109,737	-
Subordinated debentures		35,890	33,250	-	33,250	-

¹ Carrying amount is net of the allowance for loan losses and previously presented impaired loans.