| Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis |
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Fair Value Measurements at
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December 31, 2019 Using
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(In Thousands)
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Assets & Liabilities
Measured at
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Quoted Prices
in Active
Markets for
Identical Assets
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Significant
Other
Observable
Inputs
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Significant
Unobservable
Inputs
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Description
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12/31/19
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(Level 1)
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(Level 2)
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(Level 3)
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Recurring:
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Investment securities available-for-sale:
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U.S. government agencies
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$
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39,894
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$
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39,894
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Residential mortgage-backed agencies
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$
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4,900
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$
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4,900
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Commercial mortgage-backed agencies
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$
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27,764
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$
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27,764
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Collateralized mortgage obligations
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$
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29,923
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$
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29,923
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Obligations of states and political subdivisions
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$
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14,470
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$
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14,470
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Collateralized debt obligations
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$
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14,354
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$
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14,354
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Financial derivative
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$
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(133)
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$
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(133)
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Non-recurring:
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Impaired loans
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$
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6,995
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$
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6,995
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Other real estate owned
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$
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2,571
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$
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2,571
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Fair Value Measurements at
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December 31, 2018 Using
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(In Thousands)
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Assets & Liabilities
Measured at
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Quoted Prices
in Active
Markets for
Identical Assets
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Significant
Other
Observable
Inputs
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Significant
Unobservable
Inputs
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Description
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12/31/18
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(Level 1)
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(Level 2)
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(Level 3)
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Recurring:
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Investment securities available-for-sale:
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U.S. government agencies
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$
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29,026
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$
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29,026
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Commercial mortgage-backed agencies
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$
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37,752
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$
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37,752
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Collateralized mortgage obligations
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$
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35,704
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$
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35,704
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Obligations of states and political subdivisions
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$
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19,882
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$
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19,882
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Collateralized debt obligations
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$
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15,277
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$
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15,277
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Financial derivative
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$
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1,043
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$
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1,043
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Non-recurring:
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Impaired loans
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$
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1,316
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$
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1,316
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Other real estate owned
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$
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2,707
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$
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2,707
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| Fair Value by Balance Sheet Grouping |
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December 31, 2019
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Fair Value Measurements
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Carrying
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Fair
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Quoted Prices
in Active
Markets for
Identical
Assets
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Significant
Other
Observable
Inputs
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Significant
Unobservable
Inputs
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(in thousands)
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Amount
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Value
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(Level 1)
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(Level 2)
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(Level 3)
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Financial Assets:
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Cash and due from banks
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$
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48,512
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$
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48,512
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$
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48,512
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Interest bearing deposits in banks
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1,467
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1,467
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1,467
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Investment securities - AFS
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131,305
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131,305
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$
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116,951
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$
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14,354
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Investment securities - HTM
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93,979
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100,656
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79,084
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21,572
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Restricted bank stock
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4,415
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4,415
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4,415
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Loans, net
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1,038,894
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1,024,495
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1,024,495
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Accrued interest receivable
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4,116
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4,116
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4,116
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Financial Liabilities:
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Deposits – non-maturity
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888,141
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888,141
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888,141
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Deposits – time deposits
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253,890
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256,227
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256,227
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Financial derivative
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133
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133
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133
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Short-term borrowed funds
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48,728
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48,728
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48,728
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Long-term borrowed funds
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100,929
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100,848
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100,848
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Accrued interest payable
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499
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499
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499
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Off balance sheet financial instruments
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—
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—
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—
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December 31, 2018
|
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Fair Value Measurements
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|
|
Carrying
|
|
Fair
|
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Quoted Prices
in Active
Markets for
Identical
Assets
|
|
Significant
Other
Observable
Inputs
|
|
Significant
Unobservable
Inputs
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(In thousands)
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Amount
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Value
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(Level 1)
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(Level 2)
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(Level 3)
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Financial Assets:
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Cash and due from banks
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$
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22,187
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$
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22,187
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$
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22,187
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Interest bearing deposits in banks
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1,354
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1,354
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1,354
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Investment securities - AFS
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137,641
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137,641
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$
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122,364
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$
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15,277
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Investment securities - HTM
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94,010
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93,760
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80,780
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12,980
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Restricted bank stock
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5,394
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5,394
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5,394
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Loans, net
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996,103
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967,198
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967,198
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Financial derivative
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1,043
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1,043
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1,043
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Accrued interest receivable
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4,175
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4,175
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4,175
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Financial Liabilities:
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Deposits – non-maturity
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815,858
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815,858
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815,858
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Deposits – time deposits
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251,669
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252,146
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252,146
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Short-term borrowed funds
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77,707
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77,707
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77,707
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Long-term borrowed funds
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100,929
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102,590
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102,590
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Accrued interest payable
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|
455
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|
455
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|
455
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Off balance sheet financial instruments
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—
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—
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—
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