6. Fair Value (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value

Schedule of assets and liabilities at fair value on recurring basis

September 30, 2018	Total		Level 1		Level 2		Level 3
U.S. Government sponsored enterprises	$	7,820	$	-	$	7,820	$	-
Mortgage-backed obligations of federal agencies		424		-		424		-
Total securities available for sale	$	8,244	$	-	$	8,244	$	-

December 31, 2017	Total		Level 1		Level 2		Level 3
U. S. Treasuries	$	19,998	$	19,998	$	-	$	-
U.S. Government sponsored enterprises		7,980		-		7,980		-
Mortgage-backed obligations of federal agencies		502		-		502		-
Equity securities1		135		-		135		-
Total securities available for sale	$	28,615	$	19,998	$	8,617	$	-

Schedule of assets and liabilities at fair value on non-recurring basis

September 30, 2018	Total		Level 1		Level 2		Level 3
Construction/Land Development	$	4,644	$	-	$	-	$	4,644
Real Estate		419		-		-		419
Commercial Real Estate		4,312		-		-		4,312
Consumer		7		-		-		7
Dealer Finance		219		-		-		219
Impaired loans	$	9,601	$	-	$	-	$	9,601

December 31, 2017	Total		Level 1		Level 2		Level 3
Construction/Land Development	$	3,337	$	-		-	$	3,337
Real Estate		979		-		-		979
Dealer Finance		35		-		-		35
Impaired loans	$	4,351	$	-	$	-	$	4,351

Schedule of fair value measurements

	Fair Value at September 30, 2018	Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Impaired Loans	$ 9,601	Discounted appraised value	Discount for selling costs and marketability	2%-19% (Average 4.9%)

The following table presents information about Level 3 Fair Value Measurements for December 31, 2017:

	Fair Value at December 31, 2017	Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Impaired Loans	$ 4,351	Discounted appraised value	Discount for selling costs and marketability	3%-19% (Average 5.5 %)

September 30, 2018	Total		Level 1		Level 2		Level 3
Other real estate owned	$	2,063		-		-	$	2,063

December 31, 2017	Total		Level 1		Level 2		Level 3
Other real estate owned	$	1,984		-		-	$	1,984

	Fair Value at September 30, 2018	Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Other real estate owned	$ 2,063	Discounted appraised value	Discount for selling costs	2.5%-10% (Average 4%)

	Fair Value at December 31, 2017	Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Other real estate owned	$ 1,984	Discounted appraised value	Discount for selling costs	5%-15% (Average 8%)