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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets Measured on Recurring Basis

The following table presents the assets reported on the Consolidated Balance Sheets at their fair value as of June 30, 2017 and December 31, 2016 by level within the fair value hierarchy. 

(Dollars in thousands)

   Level I      Level II      Level
III
     Total  

June 30, 2017

           

Assets:

  

Securities available-for-sale

           

U.S. Treasury security

   $ 997      $ —        $ —        $ 997  

U.S. Government agencies

     —          10,316        —          10,316  

Mortgage-backed securities of government agencies

     —          53,334        —          53,334  

Asset-backed securities of government agencies

     —          1,213        —          1,213  

State and political subdivisions

     —          27,588        —          27,588  

Corporate bonds

     —          9,526        —          9,526  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total debt securities

     997        101,977        —          102,974  

Equity securities

     84        —          —          84  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale securities

   $ 1,081      $ 101,977      $ —        $ 103,058  
  

 

 

    

 

 

    

 

 

    

 

 

 

December 31, 2016

           

Assets:

           

Securities available-for-sale

           

U.S. Treasury security

   $ 1,001      $ —        $ —        $ 1,001  

U.S. Government agencies

     —          6,402        —          6,402  

Mortgage-backed securities of government agencies

     —          55,837        —          55,837  

Other mortgage-backed securities

     —          65        —          65  

Asset-backed securities of government agencies

     —          1,266        —          1,266  

State and political subdivisions

     —          29,708        —          29,708  

Corporate bonds

     —          9,516        —          9,516  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total debt securities

     1,001        102,794        —          103,795  

Equity securities

     80        —          —          80  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale securities

   $ 1,081      $ 102,794      $ —        $ 103,875  
  

 

 

    

 

 

    

 

 

    

 

 

 
Schedule of Fair Value of Assets Measured on Nonrecurring Basis

The following table presents the assets measured on a nonrecurring basis on the Consolidated Balance Sheets at their fair value as of June 30, 2017 and December 31, 2016, by level within the fair value hierarchy. 

(Dollars in thousands)

   Level I      Level II      Level III      Total  

June 30, 2017

           

Assets measured on a nonrecurring basis:

  

Impaired loans

   $ —        $ —        $ 5,577      $ 5,577  

December 31, 2016

           

Assets measured on a nonrecurring basis:

  

Impaired loans

   $ —        $ —        $ 6,427      $ 6,427  
Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value:

 

     Quantitative Information about Level III Fair Value Measurements
     Fair Value
Estimate
    

Valuation
Techniques

  

Unobservable

Input

  

Range (Weighted Average)

(Dollars in thousands)                      

June 30, 2017

           

Impaired loans

   $ 5,128      Discounted cash flow   

Remaining term

Discount rate

  

1 mo to 29.8 yrs (102 months)

3.5% to 9.8% (5.2%)

     449      Appraisal of collateral (1)   

Appraisal adjustments (2)

Liquidation expense (2)

  

0% to -50% (-17%)

-10%

December 31, 2016

           

Impaired loans

   $ 5,330      Discounted cash flow   

Remaining term

Discount rate

  

6 mos to 29.9 yrs / (61.1 mos)

3.1% to 12.0% / (4.9%)

     1,097      Appraisal of collateral (1)   

Appraisal adjustments (2)

Liquidation expense (2)

  

0% to -50% (-21.7%)

-10%

 

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various inputs which are not identifiable.
(2) Appraisals may be adjusted by management for qualitative factors. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.