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. |
|