| Carrying Values and Estimated Fair Values of Financial Instruments |
The carrying values and estimated fair values of the Company’s financial instruments are summarized as follows:
Fair Value Measurements at: | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | Carrying Value | | Estimated Fair Value | | Quoted Prices in Active Markets for Identical Assets (Level I) | | Significant Other Observable Inputs (Level II) | | Significant Unobservable Inputs (Level III) | December 31, 2016 | | | | | | | | | | | Financial assets: | | |
| | |
| | |
| | |
| | |
| Cash and cash equivalents | | $ | 17,340 |
| | $ | 17,340 |
| | $ | 17,340 |
| | $ | — |
| | $ | — |
| Certificates of deposits with other banks | | 14,527 |
| | 14,985 |
| | — |
| | 14,985 |
| | — |
| Securities available-for-sale | | 162,368 |
| | 162,368 |
| | — |
| | 162,368 |
| | — |
| Loans held for sale | | 90,174 |
| | 90,174 |
| | — |
| | 90,174 |
| | — |
| Loans, net | | 1,043,764 |
| | 1,035,437 |
| | — |
| | — |
| | 1,035,437 |
| Mortgage servicing rights | | 190 |
| | 190 |
| | — |
| | — |
| | 190 |
| Interest rate lock commitment | | 1,546 |
| | 1,546 |
| | — |
| | — |
| | 1,546 |
| Mortgage-backed security hedges | | 372 |
| | 372 |
| | — |
| | 372 |
| | — |
| Interest rate swap | | 250 |
| | 250 |
| | — |
| | 250 |
| | — |
| Interest rate cap | | 268 |
| | 268 |
| | — |
| | 268 |
| | — |
| Accrued interest receivable | | 3,951 |
| | 3,951 |
| | — |
| | 1,002 |
| | 2,949 |
| | | | | | | | | | | | Financial liabilities: | | |
| | |
| | |
| | |
| | |
| Deposits | | $ | 1,107,017 |
| | $ | 1,116,174 |
| | $ | — |
| | $ | 1,116,174 |
| | $ | — |
| Repurchase agreements | | 25,160 |
| | 25,160 |
| | — |
| | 25,160 |
| | — |
| FHLB and other borrowings | | 90,921 |
| | 90,919 |
| | — |
| | 90,919 |
| | — |
| Interest rate swap | | 250 |
| | 250 |
| | — |
| | 250 |
| | — |
| Accrued interest payable | | 741 |
| | 741 |
| | — |
| | 741 |
| | — |
| Subordinated debt | | 33,524 |
| | 32,275 |
| | — |
| | 32,275 |
| | — |
| | | | | | | | | | | | December 31, 2015 | | | | | | | | | | | Financial assets: | | |
| | |
| | |
| | |
| | |
| Cash and cash equivalents | | $ | 29,133 |
| | $ | 29,133 |
| | $ | 29,133 |
| | $ | — |
| | $ | — |
| Certificates of deposits with other banks | | 13,150 |
| | 13,270 |
| | — |
| | 13,270 |
| | — |
| Securities available-for-sale | | 70,256 |
| | 70,256 |
| | — |
| | 70,256 |
| | — |
| Securities held-to-maturity | | 52,859 |
| | 54,470 |
| | — |
| | 54,470 |
| | — |
| Loans held for sale | | 102,623 |
| | 102,623 |
| | — |
| | 102,623 |
| | — |
| Loans, net | | 1,024,164 |
| | 1,034,832 |
| | — |
| | — |
| | 1,034,832 |
| Mortgage servicing rights | | 956 |
| | 956 |
| | — |
| | — |
| | 956 |
| Interest rate lock commitment | | 1,537 |
| | 1,537 |
| | — |
| | — |
| | 1,537 |
| Interest rate swap | | 405 |
| | 405 |
| | — |
| | 405 |
| | — |
| Interest rate cap | | 437 |
| | 437 |
| | — |
| | 437 |
| | — |
| Accrued interest receivable | | 3,356 |
| | 3,356 |
| | — |
| | 723 |
| | 2,633 |
| | | | | | | | | | | | Financial liabilities: | | | | | | | | | | | Deposits | | $ | 1,012,314 |
| | $ | 1,015,521 |
| | $ | — |
| | $ | 1,015,521 |
| | $ | — |
| Repurchase agreements | | 27,437 |
| | 27,437 |
| | — |
| | 27,437 |
| | — |
| FHLB and other borrowings | | 183,198 |
| | 183,211 |
| | — |
| | 183,211 |
| | — |
| Mortgage-backed security hedges | | 19 |
| | 19 |
| | — |
| | 19 |
| | — |
| Interest rate swap | | 405 |
| | 405 |
| | — |
| | 405 |
| | — |
| Accrued interest payable | | 474 |
| | 474 |
| | — |
| | 474 |
| | — |
| Subordinated debt | | 33,524 |
| | 32,172 |
| | — |
| | 32,172 |
| | — |
|
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