Fair Value (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value

Summarizes measured at fair value on a nonrecurring basis

September 30, 2020	Total		Level 1		Level 2		Level 3
Assets:
Loans held for sale, F&M Mortgage	$	18,900	$	-	$	18,900	$	-
IRLC		706		-		706		-
U. S. Government sponsored enterprises		6,007		-		6,007		-
Securities issued by States and political subdivisions in the U. S.		17,533		-		17,533		-
Mortgage-backed obligations of federal agencies		76,713		-		76,713		-
Corporate debt securities		6,830		-		6,830		-
Forward sales commitments		10		-		10		-
Assets at Fair Value	$	126,699	$	-	$	126,699	$	-
Liabilities:
Derivatives - ICD	$	45	$	-	$	45	$	-
Liabilities at Fair Value	$	45	$	-	$	45	$	-
December 31, 2019	Total		Level 1		Level 2		Level 3
Assets:
U. S. Government sponsored enterprises	$	1,989	$	-	$	1,989	$	-
Mortgage-backed obligations of federal agencies		319		-		319		-
Other debt securities		2,058		-		2,058		-
Assets at Fair Value	$	4,366	$	-	$	4,366	$	-
Derivatives - ICD	$	72	$	-	$	72	$	-
Liabilities at Fair Value	$	72	$	-	$	72	$	-

Schedule Fair Value Measurements Level 3

	Fair Value at September 30, 2020		Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Impaired Loans	$	13,743	Discounted appraised value	Discount for selling costs and marketability	3%-48% (Average 24.38%)

The following table presents information about Level 3 Fair Value Measurements for December 31, 2019:

	Fair Value at December 31, 2019		Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Impaired Loans	$	12,739	Discounted appraised value	Discount for selling costs and marketability	0%-58.98% (Average 24.04%)

Summary of Other Real Estate Owned

September 30, 2020	Total		Level 1		Level 2		Level 3
Other real estate owned	$	166	$	-	$	-	$	166
Assets held for sale	$	520	$	-	$	-	$	520

December 31, 2019	Total		Level 1		Level 2		Level 3
Other real estate owned	$	1,489	$	-	$	-	$	1,489

The following table presents information about Level 3 Fair Value Measurements for September 30, 2020:

	Fair Value at September 30, 2020		Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Other real estate owned	$	166	Discounted appraised value	Discount for selling costs	.38%-6.67% (Average 4.66%)

	Fair Value at December 31, 2019		Valuation Technique	Significant Unobservable Inputs	Range
(dollars in thousands)
Other real estate owned	$	1,489	Discounted appraised value	Discount for selling costs	5%-10% (Average 8%)

Schedule of assets and liabilities at fair value on recurring basis

September 30, 2020	Total		Level 1		Level 2		Level 3
Construction/Land Development	$	184	$	-	$	-	$	184
Farmland		1,302		-		-		1,302
Real Estate		8,705		-		-		8,705
Commercial Real Estate		3,275		-		-		3,275
Consumer		-		-		-		-
Home Equity – open end		138		-		-		138
Dealer Finance		139		-		-		139
Impaired loans	$	13,743	$	-	$	-	$	13,743

December 31, 2019	Total		Level 1		Level 2		Level 3
Construction/Land Development	$	951		-		-	$	951
Farmland		1,396		-		-		1,396
Real Estate		9,835		-		-		9,835
Commercial Real Estate		425		-		-		425
Consumer		3		-		-		3
Dealer Finance		129		-		-		129
Impaired loans	$	12,739	$	-	$	-	$	12,739