Fair Value (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value

Schedule of assets and liabilities at fair value on recurring basis

September 30, 2021	Total		Level 1		Level 2		Level 3
Assets:
Loans held for sale, F&M Mortgage	$	3,610	$	-	$	3,610	$	-
IRLC		333		-		333		-
U. S. Treasury securities		29,494		-		29,494		-
U. S. Government sponsored enterprises		54,974		-		54,974		-
Securities issued by States and political subdivisions in the U. S.		30,294		-		30,294		-
Mortgage-backed obligations of federal agencies		139,082		-		139,082		-
Corporate debt securities		17,601		-		17,601		-
Forward Sales Commitments		145		-		145		-
Assets at Fair Value	$	275,533	$	-	$	275,533	$	-
Liabilities:
Derivatives - ICD	$	3	$	-	$	3	$	-
Liabilities at Fair Value	$	3	$	-	$	3	$	-

December 31, 2020	Total		Level 1		Level 2		Level 3
Assets:
Loans held for sale, F&M Mortgage	$	14,307	$	-	$	14,307	$	-
IRLC		816		-		816		-
U.S. Government sponsored enterprises		6,047		-		6,047		-
Securities issued by States and political subdivisions of the US		17,692		-		17,692		-
Mortgage-backed obligations of federal agencies		73,771		-		73,771		-
Corporate debt securities		9,389		-		9,389		-
Assets at Fair Value	$	122,022	$	-	$	122,022	$	-
Liabilities:
Derivatives – ICD	$	2	$	-	$	2	$	-
Forward Sales Commitments		60		-		60		-
Liabilities at Fair Value	$	62	$	-	$	62	$	-

Summarizes measured at fair value on a nonrecurring basis

September 30, 2021	Total		Level 1		Level 2		Level 3
Real Estate	$	1,011	$	-	$	-	$	1,011
Commercial Real Estate		5,417		-		-		5,417
Dealer Finance		89		-		-		89
Impaired loans	$	6,517	$	-	$	-	$	6,517
December 31, 2020	Total		Level 1		Level 2		Level 3
Farmland	$	1,367	$	-	$	-	$	1,367
Real Estate		6,778		-		-		6,778
Commercial Real Estate		5,631		-		-		5,631
Dealer Finance		132		-		-		132
Impaired loans	$	13,908	$	-	$	-	$	13,908

Schedule Fair Value Measurements Level 3

	Fair Value at September 30, 2021		Valuation Technique	Significant Unobservable Inputs	Range
Impaired Loans	$	6,517	Discounted appraised value	Discount for selling costs and marketability	6.77%-14.00% (Average 12.16%)

The following table presents information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands):

	Fair Value at December 31, 2020		Valuation Technique	Significant Unobservable Inputs	Range
Impaired Loans	$	13,908	Discounted appraised value	Discount for selling costs and marketability	9.25%-62.00% (Average 24.39%)

Summary of Other Real Estate Owned

September 30, 2021	Total		Level 1		Level 2		Level 3
Bank premises held for sale	$	300	$	-	$	300	$	-

December 31, 2020	Total		Level 1		Level 2		Level 3
Bank premises held for sale	$	520	$	-	$	520	$	-