Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Investments, All Other Investments [Abstract]

Schedule of Carrying Amount, Fair Value, and Placement in Fair Value Hierarchy of Company's Financial Instruments, Excluding Financial Instruments, which the Carrying Amount Approximates Fair Value

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2016 and December 31, 2015. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

					Fair Value Measurements
(dollars in thousands)	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2016
Financial Instruments - Assets
Investment Securities Available for Sale	$	59,269	$	59,269	$	—	$	59,269	$	—
Net Loans		405,086		410,218		—		409,167		1,051
Financial Instruments – Liabilities
Time Deposits		173,170		172,894		—		172,894		—
Long-Term Debt		10,000		10,323		—		10,323		—
December 31, 2015
Financial Instruments - Assets
Investment Securities Available for Sale	$	56,050	$	56,050	$	—	$	56,050	$	—
Net Loans		237,798		237,798		—		236,761		1,167
Financial Instruments – Liabilities
Time Deposits		96,373		95,725		—		95,725		—
Long-Term Debt		20,000		20,925		—		20,925		—

Schedule of Assets Recorded at Fair Value on Recurring Basis

Assets Recorded at Fair Value on a Recurring Basis

(dollars in thousands)	Total		Level 1		Level 2		Level 3
September 30, 2016
Investment securities available for sale
Government sponsored enterprises	$	2,089	$	—	$	2,089	$	—
Mortgage-backed securities		31,211		—		31,211		—
Corporate securities		3,064		—		3,064		—
State and municipal securities		22,905		—		22,905		—
	$	59,269	$	—	$	59,269	$	—
December 31, 2015
Investment securities available for sale
U.S. Treasury securities	$	1,516	$	—	$	1,516	$	—
U.S. Government agency securities		4		—		4		—
Government sponsored enterprises		15,309		—		15,309		—
Mortgage-backed securities		13,513		—		13,513		—
Asset-backed securities		1,989		—		1,989		—
Corporate securities		2,974		—		2,974		—
State and municipal securities		20,745		—		20,745		—
Total assets at fair value	$	56,050	$	—	$	56,050	$	—

Schedule of Assets Recorded at Fair Value on Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis are included in the table below.

September 30, 2016
(dollars in thousands)	Total		Level 1		Level 2		Level 3
Loans	$	1,051	$	—	$	—	$	1,051
Foreclosed assets		70		—		—		70
Total assets at fair value	$	1,121	$	—	$	—	$	1,121
December 31, 2015
(dollars in thousands)	Total		Level 1		Level 2		Level 3
Loans	$	1,167	$	—	$	—	$	1,167
Foreclosed assets		408		—		—		408
Total assets at fair value	$	1,575	$	—	$	—	$	1,575

Schedule of Assets Recorded at Fair Value on Recurring and Nonrecurring Basis

For Level 3 assets measured at fair value on a recurring or non-recurring basis as of September 30, 2016 and December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value at September 30, 2016		Fair Value at December 31, 2015		Valuation Technique	Significant Unobservable Inputs	General Range of Significant Unobservable Input Values
Impaired Loans	$	1,051	$	1,167	Appraised Value/Discounted Cash Flows/Market Value of Note	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell	0 – 10%
Other Real Estate Owned	$	70	$	408	Appraised Value/Comparable Sales/Other Estimates from Independent Sources	Discounts to reflect current market conditions and estimated costs to sell	0 – 10%