Village Bank and Trust Financial (VBFC) 10-K 16 Mar 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 28, 2020	Jun. 30, 2019
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Village Bank & Trust Financial Corp.
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Central Index Key	0001290476
Current Fiscal Year End Date	--12-31
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 24,717,000
Trading Symbol	VBFC
Entity Common Stock, Shares Outstanding		1,453,759
Entity Emerging Growth Company	false
Entity Small Business	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 19,967	$ 12,717
Federal funds sold	0	6,826
Total cash and cash equivalents	19,967	19,543
Investment securities available for sale, at fair value	46,937	44,253
Restricted stock, at cost	2,035	1,661
Loans held for sale	12,722	6,128
Loans
Outstandings	429,295	414,430
Allowance for loan losses	(3,186)	(3,051)
Deferred fees and costs, net	764	713
Total loans, net	426,873	412,092
Other real estate owned, net of valuation allowance	526	526
Assets held for sale	514	554
Premises and equipment, net	12,036	12,455
Bank owned life insurance	7,612	7,441
Accrued interest receivable	2,597	2,662
Other assets	8,494	7,551
Total assets	540,313	514,866
Deposits
Noninterest bearing demand	131,228	119,317
Interest bearing	311,980	319,730
Total deposits	443,208	439,047
Federal Home Loan Bank advances	29,000	21,000
Long-term debt - trust preferred securities	8,764	8,764
Subordinated debt, net	5,595	5,563
Other borrowings	5,317	0
Accrued interest payable	221	221
Other liabilities	5,294	3,138
Total liabilities	497,399	477,733
Shareholders' equity
Common stock, $4 par value, 10,000,000 shares authorized; 1,453,009 shares issued and outstanding at December 31, 2019 and 1,435,283 shares issued and outstanding at December 31, 2018	5,779	5,707
Additional paid-in capital	54,285	53,212
Accumulated deficit	(17,292)	(21,769)
Common stock warrant		732
Stock in directors rabbi trust	(856)	(883)
Directors deferred fees obligation	856	883
Accumulated other comprehensive income (loss)	142	(749)
Total shareholders' equity	42,914	37,133
Total liabilities and shareholders' equity	$ 540,313	$ 514,866

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Consolidated Balance Sheets
Common stock, par value (in dollars per share)	$ 4	$ 4
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	1,453,009	1,435,283
Common stock, shares outstanding (in shares)	1,453,009	1,435,283

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest income
Loans	$ 22,045	$ 19,871
Investment securities	1,117	1,062
Federal funds sold	325	135
Total interest income	23,487	21,068
Interest expense
Deposits	3,852	2,824
Borrowed funds	1,478	1,084
Total interest expense	5,330	3,908
Net interest income	18,157	17,160
Provision for loan losses	135	0
Net interest income after provision for loan losses	18,022	17,160
Noninterest income
Service charges and fees	2,099	1,914
Mortgage banking income, net	5,039	4,064
Gain (loss) on sale of investment securities	101	(89)
Gain on sale of Small Business Administration loans	288
Other	381	302
Total noninterest income	7,908	6,191
Noninterest expense
Salaries and benefits	12,241	11,625
Occupancy	1,346	1,327
Equipment	852	875
Write down of assets held for sale	22	56
Supplies	193	186
Professional and outside services	3,036	2,973
Advertising and marketing	293	297
Foreclosed assets, net	17	(48)
FDIC insurance premium	158	323
Other operating expense	2,131	2,007
Total noninterest expense	20,289	19,621
Income before income tax expense	5,641	3,730
Income tax expense	1,164	693
Net income	4,477	3,037
Preferred stock dividends and amortization of discount	0	(113)
Net income available to common shareholders	$ 4,477	$ 2,924
Earnings per share, basic	$ 3.10	$ 2.04
Earnings per share, diluted	$ 3.10	$ 2.04

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements of Comprehensive Income
Net income	$ 4,477	$ 3,037
Other comprehensive income (loss)
Unrealized holding gains (losses) arising during the period	1,218	(476)
Tax effect	(256)	100
Net change in unrealized holding gains (losses) on securities available for sale, net of tax	962	(376)
Reclassification adjustment
Reclassification adjustment for (gains) losses realized in income	(101)	89
Tax effect	21	(19)
Reclassification for (gains) losses included in net income, net of tax	(80)	70
Minimum pension adjustment	(14)	(14)
Tax effect	(5)	(5)
Minimum pension adjustment, net of tax	(9)	(9)
Total other comprehensive income (loss)	891	(297)
Total comprehensive income	$ 5,368	$ 2,740

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Common Stock Warrant [Member]	Stock in Directors Rabbi Trust [Member]	Directors Deferred Fees Obligation [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Dec. 31, 2017	$ 20	$ 5,672	$ 58,055	$ (24,693)	$ 732	$ (1,010)	$ 1,010	$ (452)	$ 39,334
Preferred stock redemption	(20)	0	(5,007)	0	0	0	0	0	(5,027)
Preferred stock dividend	0	0	0	(113)	0	0	0	0	(113)
Restricted stock redemption	0	0	0	0	0	127	(127)	0	0
Exercise of stock options	0	6	(6)	0	0	0	0	0	0
Vesting of restricted stock	0	29	(29)	0	0	0	0	0
Stock based compensation	0	0	199	0	0	0	0	0	199
Net income	0	0	0	3,037	0	0	0	0	3,037
Other comprehensive income (loss)	0	0	0	0	0	0	0	(297)	(297)
Balance at Dec. 31, 2018	0	5,707	53,212	(21,769)	732	(883)	883	(749)	37,133
Restricted stock redemption	0	0	0	0	0	27	(27)	0	0
Vesting of restricted stock	0	72	(72)	0	0	0	0	0	0
Stock based compensation	0	0	413	0	0	0	0	0	413
Expiration of common stock warrant	0	0	732	0	(732)	0	0	0
Net income	0	0	0	4,477	0	0	0	0	4,477
Other comprehensive income (loss)	0	0	0	0	0	0	0	891	891
Balance at Dec. 31, 2019	$ 0	$ 5,779	$ 54,285	$ (17,292)	$ 0	$ (856)	$ 856	$ 142	$ 42,914

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income	$ 4,477	$ 3,037
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	644	724
Amortization of debt issuance costs	32	24
Deferred income taxes	1,197	690
Provision for loan losses	135	0
Write-down of assets held for sale	40	56
(Gain) loss on sale of investment securities	(101)	89
Gain on sales of loans held for sale	(6,205)	(5,207)
Gain on sale of other real estate owned		(71)
Stock compensation expense	413	199
Proceeds from sale of mortgage loans	203,108	169,237
Origination of mortgage loans for sale	(203,497)	(162,111)
Amortization of premiums and accretion of discounts on securities, net	218	114
Increase in bank owned life insurance	(171)	(173)
Net change in:
Interest receivable	65	(62)
Other assets	(2,366)	576
Interest payable		128
Other liabilities	2,156	(161)
Net cash provided by operating activities	145	7,089
Cash Flows from Investing Activities
Purchases of available for sale securities	(13,352)	(7,992)
Proceeds from the sale of available for sale securities	6,491	9,109
Proceeds from maturities, calls and paydowns of available for sale securities	5,177	3,752
Net increase in loans	(14,916)	(45,923)
Proceeds from sale of other real estate owned		1,333
Purchases of premises and equipment, net	(225)	(197)
Purchase of restricted stock	(374)	(400)
Net cash used in investing activities	(17,199)	(40,318)
Cash Flows from Financing Activities
Redemption of preferred stock		(5,027)
Payment of preferred dividends		(113)
Net increase in deposits	4,161	27,423
Net increase in Federal Home Loan Bank advances	8,000	8,700
Net decrease in other borrowings	5,317	(1,560)
Issuance of subordinated debt, net	0	5,539
Net cash provided by financing activities	17,478	34,962
Net increase in cash and cash equivalents	424	1,733
Cash and cash equivalents, beginning of period	19,543	17,810
Cash and cash equivalents, end of period	19,967	19,543
Supplemental Disclosure of Cash Flow Information
Cash payments for interest	5,330	3,780
Supplemental Schedule of Non-Cash Activities
Unrealized gains (losses) on securities available for sale	1,117	(696)
Right of use assets obtained in exchange for new operating lease liabilities	$ 1,405	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies The accounting and reporting policies of Village Bank and Trust Financial Corp. and subsidiary (the “Company”) conform to accounting principles generally accepted in the United States of America (“GAAP”) and to general practice within the banking industry. The following is a description of the more significant of those policies: Business The Company is the holding company of Village Bank (the “Bank”). The Bank opened to the public on December 13, 1999 as a traditional community bank offering deposit and loan services to individuals and businesses in the Richmond, Virginia metropolitan area. In 2017, the Bank entered the Williamsburg, Virginia market by opening a full service branch. Village Bank Mortgage Corporation (the “Mortgage Company”) is a full service mortgage banking company wholly-owned by the Bank. The Bank is subject to regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. As a consequence of the extensive regulation of commercial banking activities, the Bank’s business is susceptible to being affected by state and federal legislation and regulations. The majority of the Company’s real estate loans are collateralized by properties in the Richmond, Virginia metropolitan area. Accordingly, the ultimate collectability of those loans collateralized by real estate is particularly susceptible to changes in market conditions in the Richmond area. Basis of presentation and consolidation The consolidated financial statements include the accounts of the Company, the Bank and the Mortgage Company. All material intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to the prior year financial statements to conform to current year presentation. The results of the reclassifications are not considered material. The Company has evaluated events and transactions occurring subsequent to the consolidated balance sheet date of December 31, 2019 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") No. 2016-02 “Leases (Topic 842)” and all subsequent ASUs that modified Topic 842. The Company elected the optional transitional method provided by ASU 2018-11 and did not adjust prior periods for Accounting Standards Codification ("ASC") Topic 842. The Company also elected certain practical expedients within the standard and consistent with such elections did not reassess whether any expired or existing contracts are or contain leases, did not reassess the lease classification for any expired or existing leases, and did not reassess any initial direct costs for existing leases. As stated in the Company's Form 10-K for the year ended December 31, 2018, the implementation of the new standard resulted in recognition of a right-of-use asset and lease liability of $1.4 million at the date of adoption, which is related to the Company's leases of premises used in operations. The unamortized right-of-use asset and lease liability are included in other assets and other liabilities, respectively, in the Consolidated Balance Sheets. Lease liabilities represent the Company's obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company's incremental borrowing rate in effect at the commencement date of the lease. Right-of-use assets represent the Company's right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. The Company's long-term lease agreements are all classified as operating leases. Certain of these leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. See note 11 for additional information. The Company recognizes revenue as it is earned and noted no impact to its revenue recognition policies as a result of the adoption of ASU 2014‑09. The following discussion is of revenues that are within the scope of the new revenue guidance: · Debit and credit interchange fee income - Card processing fees consist of interchange fees from consumer debit and credit card networks and other card related services. Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur. · Service charges on deposit accounts - Revenue from service charges on deposit accounts is earned through deposit-related services, as well as overdraft, non-sufficient funds, account management and other deposit related fees. Revenue is recognized for these services either over time, corresponding with deposit accounts’ monthly cycle, or at a point in time for transactional related services and fees. · Service charges on loan accounts - Revenue from loan accounts consists primarily of fees earned on prepayment penalties. Revenue is recognized for the services at a point in time for transactional related services and fees. · Gains/Losses on sale of OREO - The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the balance sheets dates and revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change include the determination of the allowance for loan losses and its related provision, including impaired loans and troubled debt restructurings (“TDR”s), the valuation of deferred tax assets, valuation of other real estate owned (“OREO”) and the estimate of the fair value of assets held for sale. Investment securities At the time of purchase, debt securities are classified into the following categories: held to maturity, available for sale or trading. Debt securities that the Company has both the positive intent and ability to hold to maturity are classified as held to maturity. Held to maturity securities are stated at amortized cost adjusted for amortization of premiums and accretion of discounts on purchase using a method that approximates the effective interest method. Investments classified as trading or available for sale are stated at fair value. Changes in fair value of trading investments are included in current earnings while changes in fair value of available for sale investments are excluded from current earnings and reported, net of taxes, as a separate component of other comprehensive income. Presently, the Company does not maintain a portfolio of trading securities or held to maturity. The fair value of investment securities available for sale is estimated based on quoted prices for similar assets determined by bid quotations received from independent pricing services. Declines in the fair value of securities below their amortized cost that are other than temporary are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost basis, we consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and if we do not expect to recover the entire amortized cost basis of the security. In analyzing an issuer’s financial condition, we may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. Interest income is recognized when earned. Realized gains and losses for securities classified as available-for-sale and are included in earnings and are derived using the specific identification method for determining the cost of securities sold. Loans held for sale The Company, through the Bank’s mortgage banking subsidiary, the Mortgage Company, originates residential mortgage loans for sale in the secondary market. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value on an aggregate basis as determined by outstanding commitments from investors. Upon entering into a commitment to originate a loan, the Company locks in the loan and rate with an investor and commits to deliver the loan if settlement occurs on a best efforts basis, thus limiting interest rate risk. Certain additional risks exist if the investor fails to meet its purchase obligation; however, based on historical performance and the size and nature of the investors the Company does not expect them to fail to meet their obligation. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Residential mortgage loans held for sale are sold to the permanent investor with the mortgage servicing rights released. Gains or losses on sales of mortgage loans are recognized based on the difference between the selling price and the carrying value of the related mortgage loans sold. Gains on the sale of loans totaling approximately $6,205,000 and $5,207,000 were realized during the years ended December 31, 2019 and 2018, respectively. Once a residential mortgage loan is sold to a permanent investor, the Company has no further involvement or retained interest in the loan. There are limited circumstances in which the permanent investor can contractually require the Company to repurchase the loan. The Company makes no provision for any such recourse related to loans sold as history has shown repurchase of loans under these circumstances has been remote. The Company, through the Mortgage Company, enters into commitments to originate residential mortgage loans in which the interest rate on the loan is determined prior to funding, termed rate lock commitments. Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between issuance of a loan commitment and closing and sale of the loan generally ranges from 30 to 45 days. The Company protects itself from changes in interest rates during this period by requiring a firm purchase agreement from a permanent investor before a loan can be closed. As a result, the Company is not exposed to losses nor will it realize gains or losses related to its rate lock commitments due to changes in interest rates. The fair value of rate lock commitments and best efforts contracts is not readily ascertainable with precision because rate lock commitments and best efforts contracts are not actively traded in stand-alone markets. The Company determines the fair value of rate lock commitments and best efforts contracts by measuring the change in the value of the underlying asset while taking into consideration the probability that the rate lock commitments will close. Due to high correlation between rate lock commitments and best efforts contracts, no material gains or losses have occurred on the rate lock commitments. The fair value of rate lock commitments and best efforts contracts was considered immaterial at December 31, 2019 and 2018. These loans are pre-sold with servicing released and no interest is retained after the loans are sold. Because of the short holding period, these loans are carried at the lower of cost or market and no market adjustments were deemed necessary in 2019 or 2018. At December 31, 2019, the Mortgage Company had rate lock commitments to originate mortgage loans aggregating approximately $15,722,000 and loans held for sale of approximately $12,722,000. The Mortgage Company has entered into corresponding commitments with third party investors to sell loans of approximately $28,444,000. Under the best efforts contractual relationship with these investors, the Mortgage Company is obligated to sell the loans, and the investor is obligated to purchase the loans, only if the loans close. No other obligation exists. As a result of these best efforts contractual relationships with these investors the Mortgage Company is not exposed to losses, nor will it realize gains, related to its rate lock commitments due to changes in interest rates. Transfers of financial assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Bank and put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. Our transfers of financial assets are limited to commercial loan participations sold, which were insignificant for 2019 and 2018, and the sale of residential mortgage loans in the secondary market; the extent of which are disclosed in the Consolidated Statements of Cash Flows. Loans Loans are stated at the principal amount outstanding, net of unearned income. Loan origination fees and certain direct loan origination costs are deferred and amortized to interest income over the life of the loan as an adjustment to the loan’s yield over the term of the loan. A loan’s past due status is based on the contractual due date of the most delinquent payment dates. Interest is accrued on outstanding principal balances, unless the Company considers collection to be doubtful. Commercial and unsecured consumer loans are designated as nonaccrual when payment is delinquent 90 days or at the point which the Company considers collection doubtful, if earlier. Mortgage loans and most other types of consumer loans past due 90 days or more may remain on accrual status if management determines that such amounts are collectible. When loans are placed in nonaccrual status, previously accrued and unpaid interest is reversed against interest income in the current period and interest is subsequently recognized only to the extent cash is received as long as the remaining recorded investment in the loan is deemed fully collectible. Loans may be placed back on accrual status when, in the opinion of management, the circumstances warrant such action such as a history of timely payments subsequent to being placed on nonaccrual status, additional collateral is obtained or the borrowers cash flows improve. Standby letters of credit are written conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The total contractual amount of standby letters of credit, whose contract amounts represent credit risk, was approximately $6,732,000 at December 31, 2019 and approximately $3,999,000 at December 31, 2018. Below is a summary of the current loan segments: Construction and land development loans consist primarily of loans for the purchase or refinance of unimproved lots or raw land. Additionally, the Company finances the construction of real estate projects typically where the permanent mortgage will remain with the Company. Specific underwriting guidelines are delineated in the Bank’s loan policies. Construction and land development loans carry risks that the project will not be finished according to schedule, the project will not be finished according to budget and the value of the collateral may, at any point in time, be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be a loan customer, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those specific to real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. Management monitors and evaluates commercial real estate loans based on cash flows, collateral, geography and risk grade criteria. Commercial real estate loans carry risks associated with the successful operation of a business or a real estate project, in addition to other risks associated with the ownership of real estate, because the repayment of these loans may be dependent upon the profitability and cash flows of the business or project. Consumer real estate loans include consumer purpose 1‑to‑4 family residential properties and home equity loans. Consumer purpose loans have underwriting standards that are heavily influenced by statutory requirements, which include, but are not limited to, documentation requirements, limits on maximum loan-to-value percentages, and collection remedies. Loans to finance 1‑4 family investment properties are primarily dependent upon rental income generated from the property and secondarily supported by the borrower’s personal income. The Company typically originates residential mortgages through our mortgage company and these loans are sold to secondary mortgage market correspondents. Consumer real estate loans carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral. Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Management examines current and projected cash flows to determine the ability of borrowers to repay their obligations as agreed. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected, and the collateral securing these loans may fluctuate in value. Most commercial and industrial loans are secured by the assets being financed or other business assets such as accounts receivable, inventory or marketable securities and may incorporate personal guarantees; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Government guaranteed balances represent Small Business Administration (“SBA”) loans originated by the Bank according to SBA guidelines. Consumer and other loans are generally small loans spread across many borrowers and are underwritten after determining the ability of the consumer borrower to repay their obligations as agreed. The underwriting standards are influenced by credit history, ability to repay, and loan-to-value. Consumer loans may be secured or unsecured and are comprised of revolving lines, installment loans and other consumer loans. Consumer and other loans carry risks associated with the continued credit-worthiness of the borrower and the value of the collateral, or lack thereof. Consumer loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy. Guaranteed student loans The Bank purchases Federal Rehabilitated Student Loan portfolios when approved by the Board of Directors. These loans are guaranteed by the U.S. Department of Education (“DOE”) which covers approximately 98% of the principal and interest. These loans are serviced by a third party servicer that specializes in handling these types of loans. We also purchase the guaranteed portion of United State Department of Agriculture Loans (“USDA”) which are guaranteed by the USDA for 100% of the principal and interest. The originating institution holds the unguaranteed portion of the loan and services the loan. These loans are typically purchased at a premium. In the event of a loan default or early prepayment the Bank may need to write off any unamortized premium. These loans are included in the commercial and industrial loan segment. Allowance for loan losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is probable. Subsequent recoveries, if any, are credited to the allowance. The allowance represents an amount that, in management’s judgment, will be adequate to absorb probable losses inherent in the loan portfolio. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of loans while taking into consideration such factors as changes in the nature and volume of the loan portfolio, current economic conditions which may affect a borrower’s ability to repay, overall portfolio quality, and review of specific potential losses. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general and specific components. The general component covers non-classified loans and is based on historical loss experience and risk characteristics (i.e. trends in delinquencies and other nonperforming loans, changes in economic conditions on both a local and national level, and changes in the categories of loans comprising the loan portfolio) adjusted for qualitative factors. The specific component relates to loans that we have concluded, based on the value of collateral, guarantees and any other pertinent factors, have known losses. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis by either the present value of the expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Troubled debt restructurings A loan or lease is accounted for as a TDR if we, for economic or legal reasons related to the borrower’s financial condition, grant a significant concession to the borrower that we would not otherwise consider. A TDR may involve the receipt of assets from the debtor in partial or full satisfaction of the loan or lease, or a modification of terms such as a reduction of the stated interest rate or balance of the loan or lease, a reduction of accrued interest, an extension of the maturity date at a stated interest rate lower than the current market rate for a new loan with similar risk, or some combination of these concessions. TDRs generally remain categorized as nonperforming loans and leases until a six-month payment history has been maintained. In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described above under “ Allowance for loan losses ”. Certain loans modified as TDRs may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a TDR the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as TDRs that subsequently default are factored into the determination of the allowance in the same manner as other defaulted loans. Real estate acquired in settlement of loans Real estate acquired through or in lieu of foreclosure is initially recorded at estimated fair value less estimated selling costs establishing a new cost basis. Subsequent to the date of acquisition, it is carried at the lower of cost or fair value, adjusted for net selling costs. If fair value declines subsequent to foreclosure a valuation allowance is recorded through expense. Operating costs after acquisition are expensed as incurred. The valuation allowance was $52,000 at December 31, 2019 and 2018. Costs relating to the development and improvement of such property are capitalized when appropriate, whereas those costs relating to holding the property are expensed. Assets held for sale Assets held for sale at December 31, 2019 and December 31, 2018 included a branch building we previously closed. The Company periodically evaluates the value of assets held for sale and records an impairment charge for any subsequent declines in fair value less selling costs. Premises and equipment Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization. Depreciation of buildings and improvements is computed using the straight-line method over the estimated useful lives of the assets of 39 years. Depreciation of equipment is computed using the straight-line method over the estimated useful lives of the assets ranging from three to seven years. Amortization of premises (leasehold improvements) is computed using the straight-line method over the term of the lease or estimated lives of the improvements, whichever is shorter. Supplemental Executive Retirement Plan The Company recognizes the unfunded status of its Supplemental Executive Retirement Plan (the “SERP”) as a liability in its Consolidated Balance Sheets, measured at the projected benefit obligation as of December 31, 2019 and 2018. Net periodic pension costs are recorded each period based on actuarially determined amounts in accordance with GAAP and recognized in salaries and employment benefits in the Consolidated Statements of Income. Actuarial determinations of net periodic pension cost are based on assumptions related to discount rates, employee compensation and mortality and interest crediting rates. Other changes in the status of the plan are recorded in the year in which the changes occur through other comprehensive income. Income taxes Deferred income taxes are recognized for the tax consequences of “temporary differences” by applying enacted tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The effect on recorded deferred income taxes of a change in tax laws or rates is recognized in income in the period that includes the enactment date. To the extent that available evidence about the future raises doubt about the realization of a deferred income tax asset, a valuation allowance is established. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Interest and penalties associated with unrecognized tax benefits are classified as taxes other than income in the statement of income. The Company has no uncertain tax positions. Consolidated statements of cash flows For purposes of reporting cash flows, cash and cash equivalents include cash on hand, due from banks (including cash items in process of collection), interest-bearing deposits with banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. Cash flows from loans originated by the Bank for investment and deposits are reported net. The Company did not pay income taxes in 2019 and 2018. Comprehensive income Total comprehensive income consists of net income and other comprehensive income (loss). At December 31, 2019 and 2018, the accumulated other comprehensive income (loss) was comprised of unrealized gains and (losses) on securities available for sale of $186,000 and $(696,000) and unfunded pension liability of ($44,000) and ($53,000) net of tax, respectively. Earnings per common share Basic earnings per common share represent net income available to common shareholders, which represents net income less dividends paid or payable to preferred stock shareholders, divided by the weighted-average number of common shares outstanding during the period, inclusive of unvested restricted shares (Note 10). For diluted earnings per common share, net income available to common shareholders is divided by the weighted average number of common shares issued and outstanding for each period plus amounts representing the dilutive effect of stock options, and warrants, as well as any adjustment to income that would result from the assumed issuance. The effects of stock options and warrants are excluded from the computation of diluted earnings per common share in periods in which the effect would be antidilutive. Stock options and warrants are antidilutive if the underlying average market price of the stock that can be purchased for the period is less than the exercise price of the option or warrant. Potential dilutive common shares that may be issued by the Company relate solely to outstanding stock options and warrants and are determined using the treasury stock method. Stock incentive plan On May 26, 2015, the Company’s shareholders approved the adoption of the Village Bank and Trust Financial Corp. 2015 Stock Incentive Plan (the “2015 Plan”) authorizing the issuance of up to 60,000 shares of common stock. The 2015 Plan was adopted to

Investment securities available

Investment securities available for sale	12 Months Ended
	Dec. 31, 2019
Investment securities available for sale
Investment securities available for sale	Note 2. Investment Securities Available for Sale The amortized cost and fair value of investment securities available for sale as of December 31, 2019 and 2018 are as follows (in thousands): Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2019 U.S. Government agency obligations $ 14,797 $ 57 $ (9) $ 14,845 Mortgage-backed securities 25,124 204 (26) 25,302 Subordinated debt 6,779 91 (80) 6,790 $ 46,700 $ 352 $ (115) $ 46,937 December 31, 2018 U.S. Government agency obligations $ 14,120 $ — $ (269) $ 13,851 Mortgage-backed securities 26,924 102 (576) 26,450 Subordinated debt 4,089 11 (148) 3,952 $ 45,133 $ 113 $ (993) $ 44,253 At December 31, 2019, the Company had no investment securities pledged to secure borrowings from the Federal Home Loan Bank of Atlanta (“FHLB”). At December 31, 2018, the Company had investment securities with a fair value of $8,004,000 pledged to secure borrowings from the FHLB. There were no investment securities pledged to secure deposit repurchase agreements at December 31, 2019 or December 31, 2018. Gross realized gains and losses pertaining to available for sale securities are detailed as follows for the years ended December 31, 2019 and 2018 (in thousands): December 31, 2019 2018 Gross realized gains $ 101 $ — Gross realized losses — (89) $ 101 $ (89) The Company sold approximately $6,500,000 and $9,100,000 in 2019 and 2018, respectively, of investment securities available for sale at a gain of $101,000 in 2019 and a loss of $89,000 in 2018. The sales of these securities, which had fixed interest rates, allowed the Company to decrease its exposure to upward movement in interest rates that would result in unrealized losses being recognized in shareholders’ equity. Investment securities available for sale that had an unrealized loss position at December 31, 2019 and December 31, 2018 are detailed below (in thousands): Securities in a loss Securities in a loss position for less than position for more than 12 Months 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2019 U.S. Government agency obligations $ 2,001 $ (1) $ 5,368 $ (8) $ 7,369 $ (9) Mortgage-backed securities 2,747 (26) — — 2,747 (26) Subordinated debt 759 (6) 940 (74) 1,699 (80) $ 5,507 $ (33) $ 6,308 $ (82) $ 11,815 $ (115) December 31, 2018 U.S. Government agency obligations $ — $ — $ 13,851 $ (269) $ 13,851 $ (269) Mortgage-backed securities — — 18,397 (576) 18,397 (576) Subordinated debt 1,915 (140) 512 (8) 2,427 (148) $ 1,915 $ (140) $ 32,760 $ (853) $ 34,675 $ (993) As of December 31, 2019, there were $6.3 million, or 10 issues, of individual available for sale securities that had been in a continuous loss position for more than 12 months. These securities had an unrealized loss of $82,000 and consisted of U.S. Government agency obligations, and subordinated debt. All of the unrealized losses are attributable to increases in interest rates and not to credit deterioration. Currently, the Company believes that it is probable that the Company will be able to collect all amounts due according to the contractual terms of the investments. Because the declines in fair value are attributable to changes in interest rates and not to credit quality, and because it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider these investments to be other than temporarily impaired at December 31, 2019. The amortized cost and estimated fair value of investment securities available for sale as of December 31, 2019, by contractual maturity, are as follows (in thousands): Amortized Cost Fair Value Less than one year $ 4,121 $ 4,117 One to five years 8,670 8,695 Five to ten years 11,697 11,728 More than ten years 22,212 22,397 Total $ 46,700 $ 46,937

Loans

Loans	12 Months Ended
	Dec. 31, 2019
Loans
Loans	Note 3. Loans Loans classified by type as of December 31, 2019 and 2018 are as follows (dollars in thousands): December 31, 2019 December 31, 2018 Amount % Amount % Construction and land development Residential $ 7,887 1.84 % $ 7,704 1.86 % Commercial 24,063 5.60 % 33,904 8.18 % 31,950 7.44 % 41,608 10.04 % Commercial real estate Owner occupied 98,353 22.91 % 98,153 23.68 % Non-owner occupied 116,508 27.14 % 95,034 22.93 % Multifamily 13,332 3.10 % 13,597 3.28 % Farmland 156 0.04 % 185 0.04 % 228,349 53.19 % 206,969 49.93 % Consumer real estate Home equity lines 21,509 5.01 % 20,675 4.99 % Secured by 1-4 family residential, First deed of trust 55,856 13.01 % 57,410 13.85 % Second deed of trust 10,411 2.43 % 9,556 2.31 % 87,776 20.45 % 87,641 21.15 % Commercial and industrial loans (except those secured by real estate) 45,074 10.50 % 36,639 8.84 % Guaranteed student loans 33,525 7.81 % 39,315 9.49 % Consumer and other 2,621 0.61 % 2,258 0.55 % Total loans 429,295 100.0 % 414,430 100.0 % Deferred fees and costs, net 764 713 Less: allowance for loan losses (3,186) (3,051) $ 426,873 $ 412,092 The Bank has a purchased portfolio of rehabilitated student loans guaranteed by the DOE. The guarantee covers approximately 98% of principal and accrued interest. The loans are serviced by a third-party servicer that specializes in handling the special needs of the DOE student loan programs. Loans pledged as collateral with the FHLB as part of their lending arrangements with the Company totaled $49,736,000 and $38,751,000 as of December 31, 2019 and 2018, respectively. The following is a summary of loans directly or indirectly with executive officers or directors of the Company for the years ended December 31, 2019 and 2018 (in thousands): 2019 2018 Beginning balance $ 5,201 $ 8,957 Additions 8,751 8,039 Effect of changes in composistion of related parties — (4,140) Reductions (8,629) (7,655) Ending balance $ 5,323 $ 5,201 Executive officers and directors also had unused credit lines totaling $2,806,000 and $4,168,000 at December 31, 2019 and 2018, respectively. Based on management’s evaluation all loans and credit lines to executive officers and directors were made in the ordinary course of business at the Company’s normal credit terms, including interest rate and collateralization prevailing at the time for comparable transactions with other persons. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due as long as the remaining recorded investment in the loan is deemed fully collectible. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. The following table provides information on nonaccrual loans segregated by type at the dates indicated (dollars in thousands): December 31, December 31, 2019 2018 Construction and land development Commercial $ — $ 39 — 39 Commercial real estate Non-owner occupied 497 515 497 515 Consumer real estate Home equity lines 300 125 Secured by 1-4 family residential First deed of trust 842 1,163 Second deed of trust 63 154 1,205 1,442 Commercial and industrial loans (except those secured by real estate) 166 255 Consumer and other — 8 Total loans $ 1,868 $ 2,259 The Company assigns risk rating classifications to its loans. These risk ratings are divided into the following groups: · Risk rated 1 to 4 loans are considered of sufficient quality to preclude an adverse rating. These assets generally are well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral; · Risk rated 5 loans are defined as having potential weaknesses that deserve management’s close attention; · Risk rated 6 loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any; and · Risk rated 7 loans have all the weaknesses inherent in substandard loans, with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The following tables provide information on the risk rating of loans at the dates indicated (in thousands): Risk Rated Risk Rated Risk Rated Risk Rated Total 1‑4 5 6 7 Loans December 31, 2019 Construction and land development Residential $ 7,887 $ — $ — $ — $ 7,887 Commercial 23,758 — 305 — 24,063 31,645 — 305 — 31,950 Commercial real estate Owner occupied 90,146 8,072 135 — 98,353 Non-owner occupied 115,781 230 497 — 116,508 Multifamily 13,186 146 — — 13,332 Farmland 71 85 — — 156 219,184 8,533 632 — 228,349 Consumer real estate Home equity lines 20,486 723 300 — 21,509 Secured by 1-4 family residential First deed of trust 53,200 1,660 996 — 55,856 Second deed of trust 10,130 167 114 — 10,411 83,816 2,550 1,410 — 87,776 Commercial and industrial loans (except those secured by real estate) 41,837 2,891 346 — 45,074 Guaranteed student loans 33,525 — — — 33,525 Consumer and other 2,621 — — — 2,621 Total loans $ 412,628 $ 13,974 $ 2,693 $ — $ 429,295 Risk Rated Risk Rated Risk Rated Risk Rated Total 1‑4 5 6 7 Loans December 31, 2018 Construction and land development Residential $ 6,957 $ — $ 747 $ — $ 7,704 Commercial 33,432 6 466 — 33,904 40,389 6 1,213 — 41,608 Commercial real estate Owner occupied 88,484 6,540 3,129 — 98,153 Non-owner occupied 94,519 — 515 — 95,034 Multifamily 13,436 161 — — 13,597 Farmland 81 104 — — 185 196,520 6,805 3,644 — 206,969 Consumer real estate Home equity lines 19,601 934 140 — 20,675 Secured by 1-4 family residential First deed of trust 53,994 1,612 1,804 — 57,410 Second deed of trust 9,167 175 214 — 9,556 82,762 2,721 2,158 — 87,641 Commercial and industrial loans (except those secured by real estate) 32,776 3,349 499 15 36,639 Guaranteed student loans 39,315 — — — 39,315 Consumer and other 2,239 8 11 — 2,258 Total loans $ 394,001 $ 12,889 $ 7,525 $ 15 $ 414,430 The following tables present the aging of the recorded investment in past due loans as of the dates indicated (in thousands): Recorded Greater Investment > 30‑59 Days 60‑89 Days Than Total Past Total 90 Days and Past Due Past Due 90 Days Due Current Loans Accruing December 31, 2019 Construction and land development Residential $ — $ — $ — $ — $ 7,887 $ 7,887 $ — Commercial — — — — 24,063 24,063 — — — — — 31,950 31,950 — Commercial real estate Owner occupied 701 — — 701 97,652 98,353 — Non-owner occupied — — — — 116,508 116,508 — Multifamily — — — — 13,332 13,332 — Farmland — — — — 156 156 — 701 — — 701 227,648 228,349 — Consumer real estate Home equity lines 52 — — 52 21,457 21,509 — Secured by 1‑4 family residential First deed of trust 290 — — 290 55,566 55,856 — Second deed of trust 133 — — 133 10,278 10,411 — 475 — — 475 87,301 87,776 — Commercial and industrial loans (except those secured by real estate) 773 — — 773 44,301 45,074 — Guaranteed student loans 1,694 1,309 2,567 5,570 27,955 33,525 2,567 Consumer and other 4 — — 4 2,617 2,621 — Total loans $ 3,647 $ 1,309 $ 2,567 $ 7,523 $ 421,772 $ 429,295 $ 2,567 Recorded Greater Investment > 30-59 Days 60-89 Days Than Total Past Total 90 Days and Past Due Past Due 90 Days Due Current Loans Accruing December 31, 2018 Construction and land development Residential $ — $ — $ — $ — $ 7,704 $ 7,704 $ — Commercial 118 — — 118 33,786 33,904 — 118 — — 118 41,490 41,608 — Commercial real estate Owner occupied — — — — 98,153 98,153 — Non-owner occupied — — — — 95,034 95,034 — Multifamily — — — — 13,597 13,597 — Farmland — — — — 185 185 — — — — — 206,969 206,969 — Consumer real estate Home equity lines — 315 — 315 20,360 20,675 — Secured by 1-4 family residential First deed of trust 171 7 — 178 57,232 57,410 — Second deed of trust 162 — — 162 9,394 9,556 — 333 322 — 655 86,986 87,641 — Commercial and industrial loans (except those secured by real estate) 312 433 — 745 35,894 36,639 — Guaranteed student loans 1,946 971 5,573 8,490 30,825 39,315 5,573 Consumer and other 9 1 — 10 2,248 2,258 — Total loans $ 2,718 $ 1,727 $ 5,573 $ 10,018 $ 404,412 $ 414,430 $ 5,573 Loans greater than 90 days past due consist of student loans that are guaranteed by the DOE which covers approximately 98% of the principal and interest. Accordingly, these loans will not be placed on nonaccrual status and are not considered to be impaired. Loans are considered impaired when, based on current information and events it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Loans evaluated individually for impairment include nonperforming loans, such as loans on nonaccrual, loans past due by 90 days or more, restructured loans and other loans selected by management. The evaluations are based upon discounted expected cash flows or collateral valuations. If the evaluation shows that a loan is individually impaired, then a specific reserve is established for the amount of impairment. Impairment is evaluated in total for smaller-balance loans of a similar nature and on an individual loan basis for other loans. If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible. Impaired loans are set forth in the following table as of the dates indicated (in thousands): December 31, 2019 December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no related allowance recorded Construction and land development Residential $ — $ — $ — $ 747 $ 747 $ — Commercial 337 337 — 360 458 — 337 337 — 1,107 1,205 — Commercial real estate Owner occupied 2,089 2,104 — 3,703 3,703 — Non-owner occupied 2,304 2,304 — 2,588 2,588 — 4,393 4,408 — 6,291 6,291 — Consumer real estate Home equity lines 300 300 — 684 684 — Secured by 1‑4 family residential First deed of trust 1,752 1,774 — 3,057 3,057 — Second deed of trust 752 960 — 721 929 — 2,804 3,034 — 4,462 4,670 — Commercial and industrial loans (except those secured by real estate) 211 373 — 528 875 — 7,745 8,152 — 12,388 13,041 — With an allowance recorded Construction and land development Commercial — — — 106 106 8 — — — 106 106 8 Commercial real estate Owner occupied 1,414 1,414 15 1,459 1,459 25 1,414 1,414 15 1,459 1,459 25 Consumer real estate Secured by 1-4 family residential First deed of trust 78 78 9 200 200 20 Second deed of trust — — — 161 161 4 78 78 9 361 361 24 Commercial and industrial loans (except those secured by real estate) 135 334 135 8 8 8 Consumer and other — — — 9 9 9 1,627 1,826 159 1,943 1,943 74 Total Construction and land development Residential — — — 747 747 — Commercial 337 337 — 466 564 8 337 337 — 1,213 1,311 8 Commercial real estate Owner occupied 3,503 3,518 15 5,162 5,162 25 Non-owner occupied 2,304 2,304 — 2,588 2,588 — 5,807 5,822 15 7,750 7,750 25 Consumer real estate Home equity lines 300 300 — 684 684 — Secured by 1-4 family residential, First deed of trust 1,830 1,852 9 3,257 3,257 20 Second deed of trust 752 960 — 882 1,090 4 2,882 3,112 9 4,823 5,031 24 Commercial and industrial loans (except those secured by real estate) 346 707 135 536 883 8 Consumer and other — — — 9 9 9 $ 9,372 $ 9,978 $ 159 $ 14,331 $ 14,984 $ 74 The following is a summary of average recorded investment in impaired loans with and without valuation allowance and interest income recognized on those loans for periods indicated (in thousands): December 31, 2019 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no related allowance recorded Construction and land development Residential $ 81 $ — $ 187 $ — Commercial 329 — 510 14 410 — 697 14 Commercial real estate Owner occupied 2,695 143 3,770 148 Non-owner occupied 2,434 128 2,618 121 5,129 271 6,388 269 Consumer real estate Home equity lines 318 19 524 — Secured by 1-4 family residential First deed of trust 2,280 76 3,016 96 Second deed of trust 810 40 692 48 3,408 135 4,232 144 Commercial and industrial loans (except those secured by real estate) 626 17 458 38 Consumer and other — — 1 1 9,573 423 11,776 466 With an allowance recorded Construction and land development Commercial — — 26 — — — 26 — Commercial real estate Owner occupied 1,432 43 1,469 61 1,432 43 1,469 61 Consumer real estate Home equity lines — — 33 — Secured by 1-4 family residential First deed of trust 166 6 365 23 Second deed of trust — — 164 8 166 6 562 31 Commercial and industrial loans (except those secured by real estate) 225 1 361 1 Consumer and other 6 — 13 — 1,829 50 2,431 93 Total Construction and land development Residential 81 — 187 — Commercial 329 — 536 14 410 — 723 14 Commercial real estate Owner occupied 4,127 186 5,239 209 Non-owner occupied 2,434 128 2,618 121 6,561 314 7,857 330 Consumer real estate Home equity lines 318 19 557 — Secured by 1-4 family residential, First deed of trust 2,446 82 3,381 119 Second deed of trust 810 40 856 56 3,574 141 4,794 175 Commercial and industrial loans (except those secured by real estate) 851 18 819 39 Consumer and other 6 — 14 1 $ 11,402 $ 473 $ 14,207 $ 559 As of December 31, 2019 and 2018, the Company had impaired loans of $1,868,000 and $2,259,000, respectively, which were on nonaccrual status. These loans had valuation allowances of $135,000 and $17,000 as of December 31, 2019 and 2018, respectively. Cumulative interest income that would have been recorded had nonaccrual loans been performing would have been $136,000 and $240,000 for 2019 and 2018, respectively. Included in impaired loans are loans classified as TDRs. A modification of a loan’s terms constitutes a TDR if the creditor grants a concession to the borrower for economic or legal reasons related to the borrowers financial difficulties that it would not otherwise consider. For loans classified as impaired TDRs, the Company further evaluates the loans as performing or nonaccrual. To restore a nonaccrual loan that has been formally restructured in a TDR to accrual status, we perform a current, well documented credit analysis supporting a return to accrual status based on the borrower’s financial condition and prospects for repayment under the revised terms. Otherwise, the TDR must remain in nonaccrual status. The analysis considers the borrower’s sustained historical repayment performance for a reasonable period to the return-to-accrual date, but may take into account payments made for a reasonable period prior to the restructuring if the payments are consistent with the modified terms. A sustained period of repayment performance generally would be a minimum of six months and would involve payments in the form of cash or cash equivalents. An accruing loan that is modified in a TDR can remain in accrual status if, based on a current well-documented credit analysis, collection of principal and interest in accordance with the modified terms is reasonably assured, and the borrower has demonstrated sustained historical repayment performance for a reasonable period before modification. The following is a summary of performing and nonaccrual TDRs and the related specific valuation allowance by portfolio segment as of December 31, 2019 and 2018 (dollars in thousands). Specific Valuation Total Performing Nonaccrual Allowance December 31, 2019 Commercial real estate Owner occupied $ 3,502 $ 3,502 $ — $ 15 Non-owner occupied 2,304 1,807 497 — 5,806 5,309 497 15 Consumer real estate Secured by 1-4 family residential First deeds of trust 1,641 881 760 9 Second deeds of trust 752 689 63 — 2,393 1,570 823 9 Commercial and industrial loans (except those secured by real estate) 211 180 31 — $ 8,410 $ 7,059 $ 1,351 $ 24 Number of loans 38 29 9 3 Specific Valuation Total Performing Nonaccrual Allowance December 31, 2018 Commercial real estate Owner occupied 4,064 4,064 — 25 Non-owner occupied 2,072 2,072 — — 6,136 6,136 — 25 Consumer real estate Secured by 1-4 family residential First deeds of trust 2,284 1,525 759 20 Second deeds of trust 794 729 65 4 3,078 2,254 824 24 Commercial and industrial loans (except those secured by real estate) 317 282 35 — $ 9,531 $ 8,673 $ 859 $ 49 Number of loans 42 33 9 6 The following table provides information about TDRs identified during the indicated periods (dollars in thousands). December 31, 2019 December 31, 2018 Pre- Post- Pre- Post- Modification Modification Modification Modification Number of Recorded Recorded Number of Recorded Recorded Loans Balance Balance Loans Balance Balance Commercial real estate Non-owner occupied $ $ — $ — $ — Secured by 1-4 family residential First deed of trust — — — 1 73 73 1 $ 515 $ 515 1 $ 73 $ 73 There were no defaults on TDRs that were modified as TDRs during the twelve month periods ended December 31, 2019 and 2018.

Allowance for loan losses

Allowance for loan losses	12 Months Ended
	Dec. 31, 2019
Allowance for Loan Losses
Allowance for Loan Losses	Note 4. Allowance for Loan Losses Activity in the allowance for loan losses was as follows for the periods indicated (in thousands): Provision for Beginning (Recovery of) Ending Balance Loan Losses Charge-offs Recoveries Balance Year Ended December 31, 2019 Construction and land development Residential $ 42 $ (1) $ — $ 7 $ 48 Commercial 220 (85) — 2 137 262 (86) — 9 185 Commercial real estate Owner occupied 673 (2) — — 671 Non-owner occupied 673 158 — — 831 Multifamily 87 (2) — — 85 Farmland 2 — — — 2 1,435 154 — — 1,589 Consumer real estate Home equity lines 244 50 (35) 12 271 Secured by 1-4 family residential First deed of trust 385 (56) — 14 343 Second deed of trust 51 (56) — 69 64 680 (62) (35) 95 678 Commercial and industrial loans (except those secured by real estate) 308 239 (64) 89 572 Student loans 121 80 (93) — 108 Consumer and other 34 (3) (26) 25 30 Unallocated 211 (187) — — 24 $ 3,051 $ 135 $ (218) $ 218 $ 3,186 Year Ended December 31, 2018 Construction and land development Residential $ 32 $ 9 $ — $ 1 $ 42 Commercial 165 49 — 6 220 197 58 — 7 262 Commercial real estate Owner occupied 624 49 — — 673 Non-owner occupied 500 (45) — 218 673 Multifamily 60 27 — — 87 Farmland 3 (1) — — 2 1,187 30 — 218 1,435 Consumer real estate Home equity lines 268 39 (64) 1 244 Secured by 1-4 family residential First deed of trust 502 (97) (41) 21 385 Second deed of trust 47 6 (45) 43 51 817 (52) (150) 65 680 Commercial and industrial loans (except those secured by real estate) 556 (50) (375) 177 308 Student loans 108 118 (105) — 121 Consumer and other 27 32 (34) 9 34 Unallocated 347 (136) — — 211 $ 3,239 $ — $ (664) $ 476 $ 3,051 The Company recorded a provision for loan losses of $135,000 for the year ended December 31, 2019 because of an increase in the specific reserves associated with a relationship evaluated individually for impairment. The Company did not record a provision for loan losses for the year ended December 31, 2018 because of minimal net charge-offs, no significant changes in qualitative factors, and stable asset quality. The allowance for loan losses at each of the periods presented includes an amount that could not be identified to individual types of loans referred to as the unallocated portion of the allowance. The unallocated component covers uncertainties that could affect management’s estimate of probable losses. We recognize the inherent imprecision in estimates of losses due to various uncertainties and the variability related to the factors used in the calculation of the allowance. The allowance for loan losses included an unallocated portion of approximately $24,000 and $211,000 at December 31, 2019 and December 31, 2018, respectively. Loans were evaluated for impairment as follows for the periods indicated (in thousands): Recorded Investment in Loans Allowance Loans Ending Ending Balance Individually Collectively Balance Individually Collectively Year Ended December 31, 2019 Construction and land development Residential $ 48 $ — $ 48 $ 7,887 $ — $ 7,887 Commercial 137 — 137 24,063 337 23,726 185 — 185 31,950 337 31,613 Commercial real estate Owner occupied 671 15 656 98,353 3,503 94,850 Non-owner occupied 831 — 831 116,508 2,304 114,204 Multifamily 85 — 85 13,332 — 13,332 Farmland 2 — 2 156 — 156 1,589 15 1,574 228,349 5,807 222,542 Consumer real estate Home equity lines 271 — 271 21,509 300 21,209 Secured by 1-4 family residential First deed of trust 343 9 334 55,856 1,830 54,026 Second deed of trust 64 — 64 10,411 752 9,659 678 9 669 87,776 2,882 84,894 Commercial and industrial loans (except those secured by real estate) 572 135 437 45,074 346 44,728 Student loans 108 — 108 33,525 — 33,525 Consumer and other 54 — 54 2,621 — 2,621 $ 3,186 $ 159 $ 3,027 $ 429,295 $ 9,372 $ 419,923 Year Ended December 31, 2018 Construction and land development Residential $ 42 $ — $ 42 $ 7,704 $ 747 $ 6,957 Commercial 220 8 212 33,904 466 33,438 262 8 254 41,608 1,213 40,395 Commercial real estate Owner occupied 673 25 648 98,153 5,162 92,991 Non-owner occupied 673 — 673 95,034 2,588 92,446 Multifamily 87 — 87 13,597 — 13,597 Farmland 2 — 2 185 — 185 1,435 25 1,410 206,969 7,750 199,219 Consumer real estate Home equity lines 244 — 244 20,675 684 19,991 Secured by 1-4 family residential First deed of trust 385 20 365 57,410 3,257 54,153 Second deed of trust 51 4 47 9,556 882 8,674 680 24 656 87,641 4,823 82,818 Commercial and industrial loans (except those secured by real estate) 308 8 300 36,639 536 36,103 Student loans 121 — 121 39,315 — 39,315 Consumer and other 245 9 236 2,258 9 2,249 $ 3,051 $ 74 $ 2,977 $ 414,430 $ 14,331 $ 400,099

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2019
Premises and Equipment
Premises and Equipment	Note 5. Premises and Equipment The following is a summary of premises and equipment as of December 31, 2019 and 2018 (in thousands): 2019 2018 Land $ 4,352 $ 4,352 Buildings and improvements 10,601 10,479 Furniture, fixtures and equipment 7,479 7,377 Total premises and equipment 22,432 22,208 Less: Accumulated depreciation and amortization (10,396) (9,753) Premises and equipment, net $ 12,036 $ 12,455 Depreciation and amortization of premises and equipment for 2019 and 2018 amounted to $644,000 and $724,000, respectively.

Investment in Bank Owned Life I

Investment in Bank Owned Life Insurance	12 Months Ended
	Dec. 31, 2019
Investment in Bank Owned Life Insurance
Investment in Bank Owned Life Insurance	Note 6. Investment in Bank Owned Life Insurance The Bank is owner and designated beneficiary on life insurance policies in the aggregate face amount of $13,707,000 covering certain of its directors and executive officers. The earnings from these policies are used to offset expenses related to retirement plans. The cash surrender value of these policies at December 31, 2019 and 2018 was approximately $7,612,000 and $7,441,000, respectively.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2019
Deposits
Deposits	Note 7. Deposits Deposits as of December 31, 2019 and 2018 were as follows (dollars in thousands): December 31, 2019 December 31, 2018 Amount % Amount % Checking accounts Noninterest bearing demand $ 131,228 29.6 % $ 119,317 27.2 % Interest bearing 48,428 10.9 % 49,188 11.2 % Money market accounts 99,955 22.6 % 86,295 19.7 % Savings accounts 26,396 6.0 % 28,694 6.5 % Time deposits of $250,000 and over 22,327 5.0 % 24,160 5.5 % Other time deposits 114,874 25.9 % 131,393 29.9 % Total $ 443,208 100.0 % $ 439,047 100.0 % The following are the scheduled maturities of time deposits as of December 31, 2019 (in thousands): Greater than Year Ending Less Than or Equal to December 31, $250,000 $250,000 Total 2020 $ 64,875 $ 17,088 $ 81,963 2021 32,447 1,957 34,404 2022 11,406 3,027 14,433 2023 4,861 255 5,116 2024 1,285 — 1,285 Total $ 114,874 $ 22,327 $ 137,201 Deposits held at the Company by related parties, which include officers, directors, greater than 5% shareholders and companies in which directors of the board have a significant ownership interest, approximated $15,067,000 and $10,801,000 at December 31, 2019 and 2018, respectively.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2019
Borrowings
Borrowings	Note 8. Borrowings The Company uses both short-term and long-term borrowings to supplement deposits when they are available at a lower overall cost to the Company or they can be invested at a positive rate of return. As a member of the Federal Home Loan Bank of Atlanta, the Bank is required to own capital stock in the FHLB and is authorized to apply for advances from the FHLB. The Company held $1,694,000 in FHLB stock at December 31, 2019 and $1,320,000 at December 31, 2018, which is held at cost. Each FHLB credit program has its own interest rate, which may be fixed or variable, and range of maturities. The FHLB may prescribe the acceptable uses to which the advances may be put, as well as on the size of the advances and repayment provisions. FHLB borrowings are secured by the pledge of commercial loans and 1‑4 family residential loans. The Company had FHLB advances of $29,000,000 at December 31, 2019 maturing through 2023. At December 31, 2018, approximately $21,000,000 of FHLB advances were outstanding. The Company had advances from the FHLB for the periods indicated that consisted of the following (dollars in thousands): Year Ended December 31, 2019 Maturity Interest Advance Type Date Rate Amount Variable June 29, 2020 1.780 % $ 8,000 Fixed Rate June 28, 2021 2.854 % 3,000 Fixed Rate July 6, 2020 2.770 % 5,000 Fixed Rate September 27, 2021 3.102 % 2,000 Fixed Rate September 25, 2023 3.212 % 2,000 Fixed Rate November 15, 2021 3.149 % 6,500 Fixed Rate December 11, 2023 3.289 % 2,500 $ 29,000 Year Ended December 31, 2018 Maturity Interest Advance Type Date Rate Amount Fixed Rate June 28, 2021 2.854 % $ 3,000 Fixed Rate July 6, 2020 2.770 % 5,000 Fixed Rate September 27, 2021 3.102 % 2,000 Fixed Rate September 25, 2023 2.212 % 2,000 Fixed Rate November 15, 2021 3.149 % 6,500 Fixed Rate December 11, 2023 3.289 % 2,500 $ 21,000 The Company uses federal funds purchased and repurchase agreements for short-term borrowing needs. Securities sold under agreements to repurchase are classified as borrowings and generally mature within one to four days from the transaction date. Securities sold under agreements to repurchase are reflected at the amount of cash received in connection with the transaction. The Company may be required to provide additional collateral based on the fair value of the underlying securities. The carrying value of these short term borrowing agreements was $5,317,000 at December 31, 2019. There were no borrowings against the lines at December 31, 2018. The Corporation’s unused lines of credit for future borrowings total approximately $44.8 million at December 31, 2019, which consists of $7.3 million available from the FHLB, $4.7 million on revolving bank line of credit, $7.8 million under secured federal funds agreements with third party financial institutions, $25 million in repurchase lines of credit with third party financial institutions. Additional loans and securities are available that can be pledged as collateral for future borrowings from the FRB or the FHLB above the current lendable collateral value. Information related to borrowings as of December 31, 2019 and 2018 is as follows (dollars in thousands): Year Ended December 31, 2019 2018 Maximum outstanding during the year FHLB advances $ 31,000 $ 25,500 Balance outstanding at end of year FHLB advances 29,000 21,000 Average amount outstanding during the year FHLB advances 22,693 18,470 Average interest rate during the year FHLB advances 3.05 % 2.26 % Average interest rate at end of year FHLB advances 2.69 % 3.03 %

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Taxes
Income Taxes	Note 9. Income Taxes The following summarizes the tax effects of temporary differences that comprise deferred tax assets and liabilities at December 31, 2019 and 2018 (in thousands): 2019 2018 Deferred tax assets Net operating loss carryforward $ 2,995 $ 4,181 Capital loss carryforward 25 44 State net operating loss carryfoward 97 114 AMT credit 11 22 Allowance for loan losses 669 641 Unrealized loss on available-for-sale securities — 185 Interest on nonaccrual loans 29 50 Expenses and writedowns related to foreclosed property 97 94 Stock compensation 10 58 Employee benefits 792 721 Pension expense 8 12 Depreciation 134 136 Other, net 11 6 Total deferred tax assets 4,878 6,264 Deferred tax liabilities Unrealized gain on available for sale securities 50 — Total deferred tax liabilities 50 — Net deferred tax asset $ 4,828 $ 6,264 The net deferred tax asset is included in other assets on the consolidated balance sheet. ASC Topic 740, Income Taxes , requires that companies assess whether a valuation allowance should be established against their deferred tax assets based on the consideration of all available evidence using a “more likely than not” standard. Management considers both positive and negative evidence and analyzes changes in near-term market conditions as well as other factors which may impact future operating results. In making such judgments, significant weight is given to evidence that can be objectively verified. The deferred tax assets are analyzed quarterly for changes affecting realization. In assessing the Company’s ability to realize its net deferred tax asset, management considers whether it is more likely than not that some portion or all of the net deferred tax asset will or will not be realized. The Company’s ultimate realization of the net deferred tax asset is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the nature and amount of historical and projected future taxable income, the scheduled reversal of deferred tax assets and liabilities, and available tax planning strategies in making this assessment. The amount of net deferred taxes recognized could be impacted by changes to any of these variables. Each quarter, the Company weighs both the positive and negative information with respect to realization of the net deferred tax asset and analyzes its position as to whether or not a valuation allowance is required. Given the consistent earnings and improving asset quality, the Company’s analysis concluded that, it is more likely than not that the Company will generate sufficient taxable income within the applicable carry-forward periods to realize its net deferred tax asset. The net operating losses available to offset future taxable income amounted to $14,261,000 at December 31, 2019 and begin expiring in 2028. The income tax expense charged to operations for the years ended December 31, 2019 and 2018 consists of the following (in thousands): 2019 2018 Current tax expense (benefit) $ (33) $ 3 Deferred tax expense 1,197 690 Provision for income taxes $ 1,164 $ 693 A reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes is as follows for the years ended December 31, 2019 and 2018 (in thousands): 2019 2018 Net income before income taxes $ 5,641 $ 3,730 Computed "expected" tax expense $ 1,185 $ 783 State taxes, net of fed 15 (33) Cash surrender value of life insurance (37) (36) Other 1 (21) Provision for income taxes $ 1,164 $ 693 Commercial banking organizations conducting business in Virginia are not subject to Virginia income taxes. Instead, they are subject to a franchise tax based on bank capital. The Company recorded franchise tax expense , within other operating expense, of approximately $385,000 and $322,000 for the years ended December 31, 2019 and 2018, respectively. With few exceptions, the Company is no longer subject to U.S. Federal, State, or local income tax examinations by tax authorities for years prior to 2016.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2019
Earnings per Share
Earnings per Share	Note 10. Earnings per Share The following table presents the basic and diluted earnings per share computations (in thousands except per share data): 2019 2018 Numerator Net income - basic and diluted $ 4,477 $ 3,037 Preferred stock dividend — (113) Net income available to common shareholders $ 4,477 $ 2,924 Denominator Weighted average shares outstanding - basic 1,445 1,433 Dilutive effect of common stock options — — Weighted average shares outstanding - diluted 1,445 1,433 Earnings per share - basic $ 3.10 $ 2.04 Earnings per share - diluted $ 3.10 $ 2.04 Applicable guidance requires that outstanding, unvested share-based payment awards that contain voting rights and rights to nonforfeitable dividends participate in undistributed earnings with common shareholders. Accordingly, the weighted average number of shares of the Company’s common stock used in the calculation of basic and diluted net income per common share includes unvested shares of the Company’s outstanding restricted common stock. The vesting of 4,155 and 14,560 restricted stock units outstanding as of December 31, 2019 and 2018, respectively are dependent upon meeting certain performance criteria. As of December 31, 2019 and December 31, 2018, it was indeterminable whether these non-vested restricted stock units will vest and as such those shares are excluded from common shares issued and outstanding at each date and are not included in the computation of earnings per share for any period presented. Outstanding options and warrants to purchase common stock were considered in the computation of diluted earnings per share for the periods presented. Stock options for 555 and 734 shares were not included in computing diluted earnings per share at December 31, 2019 and 2018, respectively, because their effects were anti-dilutive. Additionally, the impact of the warrant to acquire shares of the Company’s common stock in connection with the Company’s participation in the Troubled Asset Relief Program is not included for the period ended December 31, 2018, as the warrant was anti-dilutive. The warrant expired on May 1, 2019 and as such was not included in the period ended December 31, 2019.

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2019
Lease Commitments
Lease Commitments	Note 11. Lease Commitments The following tables present information about the Company's leases (dollars in thousands): December 31, 2019 Lease liabilities $ 1,027 Right-of-use assets $ 1,015 Weighted average remaining lease term 4.29 years Weighted average discount rate 2.98 % For the year ended December 31, 2019 Lease cost Operating lease cost $ 427 Total lease cost $ 427 A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows (dollars in thousands): As of December 31, 2019 Lease payments due Twelve months ending December 31, 2020 $ 416 Twelve months ending December 31, 2021 277 Twelve months ending December 31, 2022 120 Twelve months ending December 31, 2023 44 Twelve months ending December 31, 2024 48 Thereafter 203 Total undiscounted cash flows $ 1,108 Discount 81 Lease liabilities $ 1,027 Cash paid for amounts included in the measurement of lease liabilities during the year ended December 31, 2019 was $415,000. The Company adopted ASC 842 effective January 1, 2019. Prior to January 1, 2019, the Company measured lease expense in accordance with FASB ASC Topic 840. The Company recognized lease expense of $427,000 and $396,000 for the years ended December 31, 2019 and 2018, respectively.

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies
Commitments and Contingencies	Note 12. Commitments and Contingencies Off-balance-sheet risk – The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financial needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest-rate risk in excess of the amounts recognized in the financial statements. The contract amounts of these instruments reflect the extent of involvement that the Company has in particular classes of instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, and to potential credit loss associated with letters of credit issued, is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for loans and other such on-balance sheet instruments. At December 31, 2019 and 2018, the Company had outstanding the following approximate off-balance-sheet financial instruments whose contract amounts represent credit risk (in thousands): December 31, December 31, 2019 2018 Undisbursed credit lines $ 83,366 $ 66,057 Commitments to extend or originate credit 15,722 12,738 Standby letters of credit 6,732 3,999 Total commitments to extend credit $ 105,820 $ 82,794 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. Historically, any commitments expire without being drawn upon; therefore, the total commitment amounts shown in the above table are not necessarily indicative of future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, as deemed necessary by the Company upon extension of credit is based on management’s credit evaluation of the customer. Collateral held varies but may include personal or income-producing commercial real estate, accounts receivable, inventory and equipment. Standby letters of credit are written conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Concentrations of credit risk – Generally, the Company’s loans, commitments to extend credit, and standby letters of credit have been granted to customers in the Company’s market area. Although the Company is building a diversified loan portfolio, a substantial portion of its clients’ ability to honor contracts is reliant upon the economic stability of the Richmond, Virginia area, including the real estate markets in the area. The concentrations of credit by type of loan are set forth in Note 3. The distribution of commitments to extend credit approximates the distribution of loans outstanding.

Shareholders' Equity and Regula

Shareholders' Equity and Regulatory Matters	12 Months Ended
	Dec. 31, 2019
Shareholders' Equity and Regulatory Matters
Shareholders' Equity and Regulatory Matters	Note 13. Shareholders’ Equity and Regulatory Matters Preferred Stock On May 1, 2009, as part of the Capital Purchase Program established by the U.S. Department of the Treasury (the “Treasury”) under the Emergency Economic Stabilization Act of 2008, the Company sold (i) 14,738 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A, par value $4.00 per share, having a liquidation preference of $1,000 per share (the “preferred stock”) and (ii) a warrant (the “Warrant”) to purchase 499,029 shares of the Company’s common stock at an initial exercise price of $4.43 per share, subject to certain anti-dilution and other adjustments, to the Treasury for an aggregate purchase price of $14,738,000 in cash. During the first quarter of 2018, the Company used the proceeds from a subordinated note issuance to redeem the remaining 5,027 outstanding shares of preferred stock plus accrued dividends of $56,554. The Warrant expired on May 1, 2019. Accumulated Other Comprehensive Income (Loss) The following table presents the cumulative balances of the components of accumulated other comprehensive income (loss), net of deferred taxes of $38,000 and $199,000 as of December 31, 2019 and 2018, respectively (in thousands): Year Ended December 31, 2019 2018 Net unrealized gains (losses) on securities $ 186 $ (696) Net unrecognized losses on defined benefit plan (44) (53) Total other comprehensive income (loss) $ 142 $ (749) Regulatory Matters Both the Company and the Bank are required to comply with the capital adequacy standards established by the Board of Governors of the Federal Reserve System (the “Federal Reserve”), in the case of the Company, and the FDIC, in the case of the Bank. The Federal Reserve and the FDIC have adopted rules to implement the Basel III capital framework as outlined by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act (the “Basel III Capital Rules”). The Basel III Capital Rules implement minimum capital ratios and establish risk weightings that are applied to many classes of assets held by community banks, including applying higher risk weightings to certain commercial real estate loans. The Basel III Capital Rules require banks and bank holding companies to comply with the following minimum capital ratios: (1) a ratio of common equity Tier 1 capital to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer” (effectively resulting in a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 7%); (2) a ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer (effectively resulting in a minimum Tier 1 capital ratio of 8.5%); (3) a ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer (effectively resulting in a minimum total capital ratio of 10.5%); and (4) a leverage ratio of 4%, calculated as the ratio of Tier 1 capital to balance sheet exposures plus certain off-balance sheet exposures (computed as the average for each quarter of the month-end ratios for the quarter). The phase-in of the capital conservation buffer requirement began on January 1, 2016, at 0.625% of risk-weighted assets, increasing by the same amount each year until it was fully implemented at 2.5% on January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking organizations with a ratio of common equity Tier 1 capital to risk-weighted assets above the minimum but below the conservation buffer face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall. The Company meets the eligibility criteria of a small bank holding company in accordance with the Federal Reserve’s Small Bank Holding Company Policy Statement (the “SBHC Policy Statement”). On August 28, 2018, the Federal Reserve issued an interim final rule required by the Economic Growth, Regulatory Relief and Consumer Protection Act of 2018, which was signed into law on May 24, 2018 (the “EGRRCPA”), that expands the applicability of the SBHC Policy Statement to bank holding companies with total consolidated assets of less than $3 billion (up from the prior $1 billion threshold). Under the SBHC Policy Statement, qualifying bank holding companies, such as the Company, have additional flexibility in the amount of debt they can issue and are also exempt from the Basel III Capital Rules. The SBHC Policy Statement does not apply to the Bank and the Bank must comply with the Basel III Capital Rules. As of December 31, 2019, the Bank exceeded the minimum ratios under the Basel III Capital Rules. The Bank must also comply with the capital requirements set forth in the “prompt corrective action” regulations pursuant to Section 38 of the Federal Deposit Insurance Act of 1950. To be well capitalized under these regulations, a bank must have the following minimum capital ratios: (1) a common equity Tier 1 capital ratio of at least 6.5%; (2) a Tier 1 risk-based capital ratio of at least 8.0%; (3) a total risk-based capital ratio of at least 10.0%; and (4) a leverage ratio of at least 5.0%. As of December 31, 2019, the Bank exceeded the minimum ratios to be classified as well capitalized. On September 17, 2019, the federal bank regulators issued a final rule required by the EGRRCPA that permits qualifying banks and bank holding companies that have less than $10 billion of assets, like the Company and the Bank, to elect to be subject to a 9% leverage ratio that would be applied using less complex leverage calculations (commonly referred to as the community bank leverage ratio or “CBLR”). Under the rule, which is effective January 1, 2020, banks and bank holding companies that opt into the CBLR framework and maintain a CBLR of greater than 9% would not be subject to other risk-based and leverage capital requirements under the Basel III Capital Rules and would be deemed to have met the well capitalized ratio requirements under the “prompt corrective action” framework. The Bank does not expect to opt into the CBLR framework in 2020. The capital amounts and ratios at December 31, 2019 and 2018 for the Bank are presented in the table below (dollars in thousands): For Capital Actual Adequacy Purposes To be Well Capitalized Amount Ratio Amount Ratio Amount Ratio December 31, 2019 Total capital (to risk- weighted assets) Village Bank $ 54,653 12.56 % $ 34,807 8.00 % $ 43,508 10.00 % Tier 1 capital (to risk- weighted assets) Village Bank 52,867 12.15 % 26,015 6.00 % 34,807 8.00 % Leverage ratio (Tier 1 capital to average assets) Village Bank 52,867 9.69 % 21,823 4.00 % 27,278 5.00 % Common equity tier 1 (to risk- weighted assets) Village Bank 52,867 12.15 % 19,579 4.50 % 28,280 6.50 % December 31, 2018 Total capital (to risk- weighted assets) Village Bank $ 49,926 12.46 % $ 32,051 8.00 % $ 40,064 10.00 % Tier 1 capital (to risk- weighted assets) Village Bank 46,875 11.70 % 24,038 6.00 % 32,051 8.00 % Leverage ratio (Tier 1 capital to average assets) Village Bank 46,875 9.15 % 20,502 4.00 % 25,628 5.00 % Common equity tier 1 (to risk- weighted assets) Village Bank 46,875 11.70 % 18,029 4.50 % 26,042 6.50 %

Stock Incentive Plans

Stock Incentive Plans	12 Months Ended
	Dec. 31, 2019
Stock Incentive Plans
Stock Incentive Plans	Note 14. Stock Incentive Plans In accordance with accounting standards, the Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost is recognized over the period during which an employee is required to provide service in exchange for the award rather than disclosed in the financial statements. The following table summarizes options outstanding under the Company’s stock incentive plans at the indicated dates: Year Ended December 31, 2019 2018 Weighted Weighted Average Average Exercise Fair Value Intrinsic Exercise Fair Value Intrinsic Options Price Per Share Value Options Price Per Share Value Options outstanding, beginning of period 734 $ 25.63 $ 9.76 2,245 $ 24.17 $ 12.88 Granted — — — — — — Forfeited — — — — — — Exercised — — — (1,511) 23.46 14.39 Options outstanding, end of period 734 $ 25.63 $ 9.76 $ — 734 $ 25.63 $ 9.76 $ — Options exercisable, end of period 734 734 The following table summarizes information about stock options outstanding at December 31, 2019: Outstanding Exercisable Weighted Average Remaining Weighted Weighted Years of Average Average Range of Number of Contractual Exercise Number of Exercise Exercise Prices Options Life Price Options Price $25.28-$25.76 734 $ 25.63 734 $ 25.63 734 25.63 734 25.63 During 2019, we granted certain officers time-based restricted shares of common stock and performance-based restricted stock units. The time-based shares vest ratably over a three-year period provided that the officer is employed with the Company on the applicable vesting date. The performance-based units, which have a two-year performance period that began on January 2, 2020, vest based on the Company’s achievement of performance targets related to return on tangible common equity and the adversely classified items ratio, with possible vesting percentages ranging from 0% to 150% of the target awards. During 2018, we granted certain officers and directors time-based restricted shares of common stock and performance-based restricted stock units. The time-based shares vest ratably over a three-year period provided that the officer or director is employed with, or serving on the board of directors of, the Company on the applicable vesting date. The performance-based units, which have a two-year performance period that began on January 2, 2019, vest based on the Company’s achievement of performance targets related to return on tangible common equity and the adversely classified items ratio, with possible vesting percentages ranging from 0% to 150% of the target awards. During the second quarter of 2019, the ownership of the Company's largest shareholder exceeded 50% of the Company's outstanding common stock, which triggered change in control provisions included in the Company's stock incentive plans. The award agreements provided for the acceleration of the vesting of restricted stock awards and units in the event of a change in control, with the restricted stock units vesting at the maximum potential value of the awards. The total number of shares underlying non-vested restricted stock was 12,310 and 23,449 at December 31, 2019 and 2018, respectively. The fair value of the stock is based on the grant date of the award and the expense is recognized over the vesting period. Unamortized stock-based compensation related to non-vested share-based compensation arrangements granted under the stock incentive plan as of December 31, 2019 and 2018 was $364,000 and $468,000, respectively. The time based unrecognized compensation of $230,000 is expected to be recognized over a weighted average period of 2.50 years. During 2019 and 2018, there were forfeitures of 8,274 and 2,007 shares of restricted stock awards, respectively. A summary of changes in the Company’s non-vested restricted stock awards for the year follows: Weighted- Average Aggregate Grant-Date Intrinsic Shares Fair-Value Value December 31, 2018 23,449 $ 32.46 $ 870,192 Granted 12,510 33.83 464,246 Vested (18,567) 29.89 (689,021) Forfeited (8,274) 27.98 (307,048) Other (1) 3,192 33.75 118,455 December 31, 2019 12,310 $ 33.83 $ 456,824 (1) Represents the incremental increase in shares that vested based on the restricted stock units vesting at the maximum potential value as opposed to the targeted potential value of the award. Stock-based compensation expense was $413,000 and $199,000, for the years ended December 31, 2019 and 2018, respectively.

Trust Preferred Securities

Trust Preferred Securities	12 Months Ended
	Dec. 31, 2019
Trust Preferred Securities
Trust Preferred Securities	Note 15. Trust Preferred Securities During the first quarter of 2005, Southern Community Financial Capital Trust I, a wholly-owned subsidiary of the Company, was formed for the purpose of issuing redeemable securities. On February 24, 2005, $5.2 million of Trust Preferred Capital Notes were issued through a pooled underwriting. The securities have a LIBOR-indexed floating rate of interest (three-month LIBOR plus 2.15%) which adjusts, and is payable, quarterly. The interest rate was 4.06% and 4.94% at December 31, 2019 and 2018, respectively. The securities were redeemable at par beginning on March 15, 2010 and each quarter after such date until the securities mature on March 15, 2035. No amounts have been redeemed at December 31, 2019 and there are no plans to do so. The principal asset of the Trust is $5.2 million of the Company’s junior subordinated debt securities with like maturities and like interest rates to the Trust Preferred Capital Notes. During the third quarter of 2007, Village Financial Statutory Trust II, a wholly–owned subsidiary of the Company, was formed for the purpose of issuing redeemable securities. On September 20, 2007, $3.6 million of Trust Preferred Capital Notes were issued through a pooled underwriting. The securities have LIBOR-indexed floating rate of interest (three-month LIBOR plus 1.4%) which adjusts and is also payable quarterly. The interest rate was 3.31% and 4.19% at December 31, 2019 and 2018, respectively. The securities may be redeemed at par at any time commencing in December 2012 until the securities mature in 2037. No amounts have been redeemed at December 31, 2019 and there are no plans to do so. The principal asset of the Trust is $3.6 million of the Company’s junior subordinated securities with like maturities and like interest rates to the Trust Preferred Capital Notes. The Trust Preferred Capital Notes may be included in Tier 1 capital for regulatory capital adequacy determination purposes up to 25% of Tier 1 capital after its inclusion. The portion of the Trust Preferred Capital Notes not considered as Tier 1 capital may be included in Tier 2 capital. The obligations of the Company with respect to the issuance of the Trust Preferred Capital Notes constitute a full and unconditional guarantee by the Company of the Trust’s obligations with respect to the Trust Preferred Capital Notes. Subject to certain exceptions and limitations, the Company may elect from time to time to defer interest payments on the junior subordinated debt securities, which would result in a deferral of distribution payments on the related Trust Preferred Capital Notes and require a deferral of common dividends. The Company is current on these interest payments.

Subordinated Debt Offering

Subordinated Debt Offering	12 Months Ended
	Dec. 31, 2019
Subordinated Debt Offering
Subordinated Debt Offering	Note 16. Subordinated Debt Offering On March 21, 2018, the Company issued $5,700,000 of fixed-to-floating rate subordinated notes due March 31, 2028 in a private placement. The Company received $5,539,000 in net proceeds after deducting issuance costs. The subordinated notes accrue interest at a fixed rate of 6.50% for the first five years until March 31, 2023; thereafter, the subordinated notes will accrue interest at an annual floating rate equal to three-month LIBOR plus a spread of 3.73% until maturity or early redemption. The Company may redeem the subordinated notes in whole or in part, on or after March 31, 2023. The subordinated notes are unsecured and subordinated in right of payment to all of the Company’s existing and future senior indebtedness, whether secured or unsecured, including claims of depositors and general creditors, and rank equally in right of payment with any unsecured, subordinated indebtedness that the Company may incur in the future. At December 31, 2019, the carrying value of the notes totaled $5,595,000.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2019
Retirement Plans
Retirement Plans	Note 17. Retirement Plans 401K Plan : The Bank provides a qualified 401K plan to all eligible employees which is administered through the Virginia Bankers Association Benefits Corporation. Employees are eligible to participate in the plan after three months of employment. Eligible employees may, subject to statutory limitations, contribute a portion of their salary to the plan through payroll deduction. Due to economic conditions at the time, the Bank ceased its matching program in 2009; however, beginning January 2013, the Bank reinstituted the 401K match. The Bank provided a matching contribution of 100% of the first 1% the participant contributes, and then 50% of the next 5% of their salary, totaling a maximum 3.5%. Participants are always fully vested in their own contributions, and the Bank’s matching contributions vest 100% after two years of service. Total contributions to the plan for the years ended December 31, 2019 and 2018 were $351,000, and $322,000, respectively. Supplemental Executive Retirement Plan : The Bank established the Village Bank SERP on January 1, 2005 to provide supplemental retirement income to certain executive officers as designated by the Personnel Committee, later replaced by the Compensation Committee, and approved by the board of directors. The SERP is an unfunded employee pension plan under the provisions of the Employee Retirement Income Security Act of 1974. An eligible employee, once designated by the Committee and approved by the board of directors in writing to participate in the SERP, becomes a participant in the SERP 60 days following such approval (unless an earlier participation date is approved). The retirement benefit to be received by a participant is determined by the Committee and approved by the board of directors and is payable in equal monthly installments over the period specified in the SERP for each respective participant, commencing on the first day of the month following a participant’s retirement or termination of employment, provided the participant has been employed by the Bank for a minimum of 10 years. The Compensation Committee, in its sole discretion, may choose to treat a participant who has experienced a termination of employment on or after attaining age 65 but prior to completing his service requirement as having completed his service requirement. During the second quarter of 2019, the ownership of the Company's largest shareholder exceeded 50% of the Company's outstanding common stock, which triggered change in control provisions included in the SERP. The SERP provides for the acceleration of the vesting of benefits in the event of a change in control, which resulted in the three executives participating in the plan becoming fully vested as of the date of the change in control. At December 31, 2019 and 2018, the Bank’s liability under the SERP was $2,546,000 and $2,181,000, respectively, and expense for the years ended December 31, 2019 and 2018 was $513,000 and $194,000, respectively. The increase in other comprehensive income related to the minimum pension adjustment was $9,000 net of tax for the years ended December 31, 2019 and 2018. The increase in cash surrender value of the bank owned life insurance related to the participants was $171,000 and $173,000 for the years ended December 31, 2019 and 2018, respectively. Directors’ Deferral Plan : The Bank established the Village Bank Outside Directors Deferral Plan (the “Directors Deferral Plan”) on January 1, 2005 under which non-employee directors of the Bank have the opportunity to defer receipt of all or a portion of certain compensation until retirement or departure from the board of directors. Deferral of compensation under the Directors Deferral Plan is voluntary by non-employee directors and to participate in the plan a director must file a deferral election as provided in the plan. A director shall become an active participant with respect to a plan year (as defined in the plan) only if he is expected to have compensation during the plan year and he timely files a deferral election. A separate account is established for each participant in the plan and each account shall, in addition to compensation deferred at the election of the participant, be credited with interest on the balance of the account, the rate of such interest to be established by the board of directors in its sole discretion at the beginning of each plan year. For those directors electing to purchase stock, the obligation will only be settled by delivery of the fixed number of shares they purchased. At December 31, 2019 and 2018, the Bank’s liability under the Directors Deferral Plan was $419,000 and $320,000, respectively, and expense for the years ended December 31, 2019 and 2018 was $109,000 and $79,000, respectively. In the first quarter of 2015 and the fourth quarter of 2013, certain directors elected to purchase common stock with funds from their deferred compensation accounts causing the December 31, 2015 and December 31, 2013 liability to be lower than the December 31, 2014 liability. A rabbi trust was established to hold the shares. At December 31, 2019 and 2018, the trust held 40,875 and 41,962 shares, respectively of Company common stock totaling $856,000 and $883,000, respectively.

Fair value

Fair value	12 Months Ended
	Dec. 31, 2019
Fair Value
Fair Value	Note 18. Fair Value The Company determines the fair value of its financial instruments based on the requirements established in ASC 820: Fair Value Measurements, which provides a framework for measuring fair value under GAAP and requires an entity to maximize the use of observable inputs when measuring fair value. ASC 820 defines fair value as the exit price, the price that would be received for an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. ASC 820 establishes a hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair values hierarchy is as follows: Level 1 Inputs — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Inputs — Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Inputs — Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods to determine the fair value of each type of financial instrument: Securities : Fair values for securities available-for-sale are obtained from an independent pricing service. The prices are not adjusted. The independent pricing service uses industry-standard models to price U.S. Government agency obligations and mortgage backed securities that consider various assumptions, including time value, yield curves, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Securities of obligations of state and political subdivisions are valued using a type of matrix, or grid, pricing in which securities are benchmarked against the treasury rate based on credit rating. Substantially all assumptions used by the independent pricing service are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace (Levels 1 and 2). If the inputs used to provide the evaluation for certain securities are unobservable and/or there is little, if any, market activity, then the security would fall to the lowest level of the hierarchy (Level 3). Impaired loans : The fair values of impaired loans are measured for impairment using the fair value of the collateral for collateral-dependent loans on a nonrecurring basis. Collateral may be in the form of real estate or business assets including equipment, inventory and accounts receivable. The vast majority of the Company’s collateral is real estate. The value of real estate collateral is determined utilizing an income or market valuation approach based on an appraisal conducted by an independent, licensed appraiser using observable market data (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the property is more than two years old, then a Level 3 valuation is considered to measure the fair value. The value of business equipment is based upon an outside appraisal if deemed significant using observable market data. Likewise, values for inventory and account receivables collateral are based on financial statement balances or aging reports (Level 3). Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. Loans held for sale: Loans held for sale are carried at cost which approximates estimated fair value. These loans currently consist of one-to-four family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2). Gains and losses on the sale of loans are recorded within mortgage banking income, net on the Consolidated Statements of Income. Other Real Estate Owned: OREO assets are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Subsequently, OREO assets are carried at fair value less estimated costs to sell. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the foreclosed asset as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Assets held for sale : Assets held for sale were transferred from premises and equipment at the lower of cost less accumulated depreciation or fair value at the date of transfer. The Company periodically evaluates the value of assets held for sale and records an impairment charge for any subsequent declines in fair value less selling costs. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the assets held for sale as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the asset held for sale as nonrecurring Level 3. Assets and liabilities measured at fair value under Topic 820 on a recurring and non-recurring basis are summarized below for the indicated dates (in thousands): Fair Value Measurement at December 31, 2019 Using Quoted Prices in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial Assets - Recurring U.S. Government Agencies $ 14,845 $ — $ 14,845 $ — Mortgage-backed securities 25,302 — 25,302 — Subordinated debt 6,790 — 6,540 250 Financial Assets - Non-Recurring Impaired loans 1,468 — — 1,468 Assets held for sale 514 — — 514 Other real estate owned 526 — — 526 Fair Value Measurement at December 31, 2018 Using Quoted Prices in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial Assets - Recurring U.S. Government Agencies $ 13,851 $ — $ 13,851 $ — Mortgage-backed securities 26,450 — 26,450 — Subordinated debt 3,952 — 3,452 500 Financial Assets - Non-Recurring Impaired loans 1,868 — — 1,868 Assets held for sale 554 — — 554 Other real estate owned 526 — — 526 The following table presents qualitative information about Level 3 fair value measurements for financial instruments measured at fair value for the years ended December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 Range Fair Value Valuation Unobservable (Weighted Estimate Techniques Input Average) Impaired loans - real estate secured $ 1,468 Appraisal (1) or Internal Valuation (2) Selling costs 6%‑10% (7%) Discount for lack of marketability and age of appraisal 6%‑30% (10%) Assets held for sale $ 514 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) Discount for lack of marketability and age of appraisal 6%-30% (15%) Other real estate owned $ 526 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) (1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally includes various level 3 inputs which are not identifiable (2) Internal valuations may be conducted to determine Fair Value for assets with nominal carrying balances December 31, 2018 Range Fair Value Valuation Unobservable (Weighted Estimate Techniques Input Average) Impaired loans - real estate secured $ 1,868 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) Discount for lack of marketability and age of appraisal 6%-30% (10%) Assets held for sale $ 554 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) Discount for lack of marketability and age of appraisal 6%-30% (15%) Other real estate owned $ 526 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) (1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally includes various level 3 inputs which are not identifiable (2) Internal valuations may be conducted to determine Fair Value for assets with nominal carrying balances FASB ASC 825, Financial Instruments , requires disclosure about fair value of financial instruments, including those financial assets and financial liabilities that are not required to be measured and reported at fair value on a recurring or nonrecurring basis. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. Additionally, in accordance with ASU 2016-01, which the Company adopted on January 1, 2018 on a prospective basis, the Company uses the exit price notion, rather than the entry price notion, in calculating the fair values of financial instruments not measured at fair value on a recurring basis. The following tables reflect the carrying amounts and estimated fair values of the Company's financial instruments whether or not recognized on the Consolidated Balance Sheet at fair value. December 31, December 31, 2019 2018 Level in Fair Value Carrying Estimated Carrying Estimated Hierarchy Value Fair Value Value Fair Value (In thousands) Financial assets Cash Level 1 $ 19,967 $ 19,967 $ 12,717 $ 12,717 Cash equivalents Level 2 — — 6,826 6,826 Investment securities available for sale Level 2 46,687 46,687 43,753 43,753 Investment securities available for sale Level 3 250 250 500 500 Federal Home Loan Bank stock Level 2 1,694 1,694 1,320 1,320 Loans held for sale Level 2 12,722 12,722 6,128 6,128 Loans Level 3 427,827 429,254 412,562 409,939 Impaired loans Level 3 1,468 1,468 1,868 1,868 Assets held for sale Level 3 514 514 554 554 Other real estate owned Level 3 526 526 526 526 Bank owned life insurance Level 3 7,612 7,612 7,441 7,441 Accrued interest receivable Level 2 2,597 2,597 2,662 2,662 Financial liabilities Deposits Level 2 443,208 443,645 439,047 439,125 FHLB borrowings Level 2 29,000 29,285 21,000 21,093 Trust preferred securities Level 2 8,764 9,812 8,764 8,852 Other borrowings Level 2 10,912 10,912 5,563 5,563 Accrued interest payable Level 2 221 221 221 221

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2019
Segment Reporting
Segment Reporting	Note 19. Segment Reporting The Company has two reportable segments: traditional commercial banking and mortgage banking. Revenues from commercial banking operations consist primarily of interest earned on loans and securities and fees from deposit services. Mortgage banking operating revenues consist principally of interest earned on mortgage loans held for sale, gains on sales of loans in the secondary mortgage market, and loan origination fee income. The commercial banking segment provides the mortgage banking segment with the short-term funds needed to originate mortgage loans through a warehouse line of credit and charges the mortgage banking segment interest based on the commercial banking segment’s cost of funds. Additionally, the mortgage banking segment leases premises from the commercial banking segment. These transactions are eliminated in the consolidation process. The following table presents segment information as of and for the years ended December 31, 2019 and 2018 (in thousands): Commercial Mortgage Consolidated Banking Banking Eliminations Totals Year Ended December 31, 2019 Revenues Interest income $ 23,079 $ 539 $ (131) $ 23,487 Gain on sale of loans — 6,205 — 6,205 Other revenues 3,044 754 (220) 3,578 Total revenues 26,123 7,498 (351) 33,270 Expenses Provision for loan losses 135 — — 135 Interest expense 5,330 131 (131) 5,330 Salaries and benefits 9,047 3,194 — 12,241 Commissions — 1,875 — 1,875 Other expenses 7,209 1,059 (220) 8,048 Total operating expenses 21,721 6,259 (351) 27,629 Income before income taxes 4,402 1,239 — 5,641 Income tax expense 904 260 — 1,164 Net income $ 3,498 $ 979 $ — $ 4,477 Total assets $ 542,053 $ 10,924 $ (12,664) $ 540,313 Commercial Mortgage Consolidated Banking Banking Eliminations Totals Year Ended December 31, 2018 Revenues Interest income $ 20,768 $ 309 $ (9) $ 21,068 Gain on sale of loans — 5,207 — 5,207 Other revenues 2,290 648 (210) 2,728 Total revenues 23,058 6,164 (219) 29,003 Expenses Interest expense 3,908 9 (9) 3,908 Salaries and benefits 8,360 3,265 — 11,625 Commissions — 1,744 — 1,744 Other expenses 7,145 1,061 (210) 7,996 Total operating expenses 19,413 6,079 (219) 25,273 Income before income taxes 3,645 85 — 3,730 Income tax expense 672 21 693 Net income $ 2,973 $ 64 $ — $ 3,037 Total assets $ 517,913 $ 9,504 $ (12,551) $ 514,866

Parent Corporation Only Financi

Parent Corporation Only Financial Statements	12 Months Ended
	Dec. 31, 2019
Parent Corporation Only Financial Statements
Parent Corporation Only Financial Statements	Note 20. Village Bank and Trust Financial Corp. (Parent Corporation Only) Condensed Balance Sheet (in thousands) December 31, December 31, 2019 2018 Assets Cash and due from banks $ 1,007 $ 877 Investment in subsidiaries 53,768 48,272 Investment in special purpose subsidiary 264 264 Prepaid expenses and other assets 2,284 2,094 $ 57,323 $ 51,507 Liabilities and Shareholders’ Equity Liabilities Balance due to nonbank subsidiaries $ 8,764 $ 8,764 Other borrowings 5,595 5,563 Accrued interest payable 47 47 Other liabilities 3 — Total liabilities 14,409 14,374 Shareholders’ equity Common stock 5,779 5,707 Additional paid-in capital 54,285 53,212 Common stock warrant — 732 Accumulated deficit (17,292) (21,769) Stock in directors rabbi trust (856) (883) Directors deferred fees obligation 856 883 Accumulated other comprehensive income (loss) 142 (749) Total stockholders’ equity 42,914 37,133 $ 57,323 $ 51,507 Village Bank and Trust Financial Corp. (Parent Corporation Only) Condensed Statements of Operations and Comprehensive Income Years Ended December 31, 2019 and 2018 (in thousands) 2019 2018 Interest income Village Bank money market $ 3 $ 4 Interest expense Interest on borrowed funds 775 653 Total interest expense 775 653 Net interest expense (772) (649) Noninterest expense Supplies 30 28 Professional and outside services 61 69 Other 42 41 Total noninterest expense 133 138 Net loss before undistributed income of subsidiary (905) (787) Undistributed income of subsidiary 5,192 3,659 Net income before income tax benefit 4,287 2,872 Income tax benefit (190) (165) Net income $ 4,477 $ 3,037 Total comprehensive income $ 5,368 $ 2,740 Village Bank and Trust Financial Corp. (Parent Corporation Only) Condensed Statements of Cash Flows Years Ended December 31, 2019 and 2018 (in thousands) 2019 2018 Cash Flows from Operating Activities Net income $ 4,477 $ 3,037 Adjustments to reconcile net income to net cash used in operating activities Amortization of debt issuance costs 32 24 Undistributed income of subsidiary (5,192) (3,659) Net change in: Other assets (190) (163) Interest Payable — 47 Other liabilities 3 (53) Net cash used in operating activities (870) (767) Cash Flows from Investing Activities Dividend from subsidiary 1,000 — Net cash provided by investing activities 1,000 — Cash Flows from Financing Activities Proceeds from exercise of stock options — 35 Redemption of preferred stock — (5,027) Payment of preferred dividends — (113) Issuance of Subordinated debt, net — 5,539 Net cash provided by financing activities — 434 Net increase (decrease) in cash 130 (333) Cash, beginning of year 877 1,210 Cash, end of year $ 1,007 $ 877

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting Policies
Business	Business The Company is the holding company of Village Bank (the “Bank”). The Bank opened to the public on December 13, 1999 as a traditional community bank offering deposit and loan services to individuals and businesses in the Richmond, Virginia metropolitan area. In 2017, the Bank entered the Williamsburg, Virginia market by opening a full service branch. Village Bank Mortgage Corporation (the “Mortgage Company”) is a full service mortgage banking company wholly-owned by the Bank. The Bank is subject to regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. As a consequence of the extensive regulation of commercial banking activities, the Bank’s business is susceptible to being affected by state and federal legislation and regulations. The majority of the Company’s real estate loans are collateralized by properties in the Richmond, Virginia metropolitan area. Accordingly, the ultimate collectability of those loans collateralized by real estate is particularly susceptible to changes in market conditions in the Richmond area.
Basis of presentation and consolidation	Basis of presentation and consolidation The consolidated financial statements include the accounts of the Company, the Bank and the Mortgage Company. All material intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to the prior year financial statements to conform to current year presentation. The results of the reclassifications are not considered material. The Company has evaluated events and transactions occurring subsequent to the consolidated balance sheet date of December 31, 2019 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") No. 2016-02 “Leases (Topic 842)” and all subsequent ASUs that modified Topic 842. The Company elected the optional transitional method provided by ASU 2018-11 and did not adjust prior periods for Accounting Standards Codification ("ASC") Topic 842. The Company also elected certain practical expedients within the standard and consistent with such elections did not reassess whether any expired or existing contracts are or contain leases, did not reassess the lease classification for any expired or existing leases, and did not reassess any initial direct costs for existing leases. As stated in the Company's Form 10-K for the year ended December 31, 2018, the implementation of the new standard resulted in recognition of a right-of-use asset and lease liability of $1.4 million at the date of adoption, which is related to the Company's leases of premises used in operations. The unamortized right-of-use asset and lease liability are included in other assets and other liabilities, respectively, in the Consolidated Balance Sheets. Lease liabilities represent the Company's obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company's incremental borrowing rate in effect at the commencement date of the lease. Right-of-use assets represent the Company's right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. The Company's long-term lease agreements are all classified as operating leases. Certain of these leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. See note 11 for additional information. The Company recognizes revenue as it is earned and noted no impact to its revenue recognition policies as a result of the adoption of ASU 2014‑09. The following discussion is of revenues that are within the scope of the new revenue guidance: · Debit and credit interchange fee income - Card processing fees consist of interchange fees from consumer debit and credit card networks and other card related services. Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur. · Service charges on deposit accounts - Revenue from service charges on deposit accounts is earned through deposit-related services, as well as overdraft, non-sufficient funds, account management and other deposit related fees. Revenue is recognized for these services either over time, corresponding with deposit accounts’ monthly cycle, or at a point in time for transactional related services and fees. · Service charges on loan accounts - Revenue from loan accounts consists primarily of fees earned on prepayment penalties. Revenue is recognized for the services at a point in time for transactional related services and fees. · Gains/Losses on sale of OREO - The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer.
Use of estimates	Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the balance sheets dates and revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change include the determination of the allowance for loan losses and its related provision, including impaired loans and troubled debt restructurings (“TDR”s), the valuation of deferred tax assets, valuation of other real estate owned (“OREO”) and the estimate of the fair value of assets held for sale.
Investment securities	Investment securities At the time of purchase, debt securities are classified into the following categories: held to maturity, available for sale or trading. Debt securities that the Company has both the positive intent and ability to hold to maturity are classified as held to maturity. Held to maturity securities are stated at amortized cost adjusted for amortization of premiums and accretion of discounts on purchase using a method that approximates the effective interest method. Investments classified as trading or available for sale are stated at fair value. Changes in fair value of trading investments are included in current earnings while changes in fair value of available for sale investments are excluded from current earnings and reported, net of taxes, as a separate component of other comprehensive income. Presently, the Company does not maintain a portfolio of trading securities or held to maturity. The fair value of investment securities available for sale is estimated based on quoted prices for similar assets determined by bid quotations received from independent pricing services. Declines in the fair value of securities below their amortized cost that are other than temporary are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost basis, we consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and if we do not expect to recover the entire amortized cost basis of the security. In analyzing an issuer’s financial condition, we may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. Interest income is recognized when earned. Realized gains and losses for securities classified as available-for-sale and are included in earnings and are derived using the specific identification method for determining the cost of securities sold.
Loans held for sale	Loans held for sale The Company, through the Bank’s mortgage banking subsidiary, the Mortgage Company, originates residential mortgage loans for sale in the secondary market. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value on an aggregate basis as determined by outstanding commitments from investors. Upon entering into a commitment to originate a loan, the Company locks in the loan and rate with an investor and commits to deliver the loan if settlement occurs on a best efforts basis, thus limiting interest rate risk. Certain additional risks exist if the investor fails to meet its purchase obligation; however, based on historical performance and the size and nature of the investors the Company does not expect them to fail to meet their obligation. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Residential mortgage loans held for sale are sold to the permanent investor with the mortgage servicing rights released. Gains or losses on sales of mortgage loans are recognized based on the difference between the selling price and the carrying value of the related mortgage loans sold. Gains on the sale of loans totaling approximately $6,205,000 and $5,207,000 were realized during the years ended December 31, 2019 and 2018, respectively. Once a residential mortgage loan is sold to a permanent investor, the Company has no further involvement or retained interest in the loan. There are limited circumstances in which the permanent investor can contractually require the Company to repurchase the loan. The Company makes no provision for any such recourse related to loans sold as history has shown repurchase of loans under these circumstances has been remote. The Company, through the Mortgage Company, enters into commitments to originate residential mortgage loans in which the interest rate on the loan is determined prior to funding, termed rate lock commitments. Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between issuance of a loan commitment and closing and sale of the loan generally ranges from 30 to 45 days. The Company protects itself from changes in interest rates during this period by requiring a firm purchase agreement from a permanent investor before a loan can be closed. As a result, the Company is not exposed to losses nor will it realize gains or losses related to its rate lock commitments due to changes in interest rates. The fair value of rate lock commitments and best efforts contracts is not readily ascertainable with precision because rate lock commitments and best efforts contracts are not actively traded in stand-alone markets. The Company determines the fair value of rate lock commitments and best efforts contracts by measuring the change in the value of the underlying asset while taking into consideration the probability that the rate lock commitments will close. Due to high correlation between rate lock commitments and best efforts contracts, no material gains or losses have occurred on the rate lock commitments. The fair value of rate lock commitments and best efforts contracts was considered immaterial at December 31, 2019 and 2018. These loans are pre-sold with servicing released and no interest is retained after the loans are sold. Because of the short holding period, these loans are carried at the lower of cost or market and no market adjustments were deemed necessary in 2019 or 2018. At December 31, 2019, the Mortgage Company had rate lock commitments to originate mortgage loans aggregating approximately $15,722,000 and loans held for sale of approximately $12,722,000. The Mortgage Company has entered into corresponding commitments with third party investors to sell loans of approximately $28,444,000. Under the best efforts contractual relationship with these investors, the Mortgage Company is obligated to sell the loans, and the investor is obligated to purchase the loans, only if the loans close. No other obligation exists. As a result of these best efforts contractual relationships with these investors the Mortgage Company is not exposed to losses, nor will it realize gains, related to its rate lock commitments due to changes in interest rates.
Transfers of financial assets	Transfers of financial assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (1) the assets have been isolated from the Bank and put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. Our transfers of financial assets are limited to commercial loan participations sold, which were insignificant for 2019 and 2018, and the sale of residential mortgage loans in the secondary market; the extent of which are disclosed in the Consolidated Statements of Cash Flows.
Loans	Loans Loans are stated at the principal amount outstanding, net of unearned income. Loan origination fees and certain direct loan origination costs are deferred and amortized to interest income over the life of the loan as an adjustment to the loan’s yield over the term of the loan. A loan’s past due status is based on the contractual due date of the most delinquent payment dates. Interest is accrued on outstanding principal balances, unless the Company considers collection to be doubtful. Commercial and unsecured consumer loans are designated as nonaccrual when payment is delinquent 90 days or at the point which the Company considers collection doubtful, if earlier. Mortgage loans and most other types of consumer loans past due 90 days or more may remain on accrual status if management determines that such amounts are collectible. When loans are placed in nonaccrual status, previously accrued and unpaid interest is reversed against interest income in the current period and interest is subsequently recognized only to the extent cash is received as long as the remaining recorded investment in the loan is deemed fully collectible. Loans may be placed back on accrual status when, in the opinion of management, the circumstances warrant such action such as a history of timely payments subsequent to being placed on nonaccrual status, additional collateral is obtained or the borrowers cash flows improve. Standby letters of credit are written conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The total contractual amount of standby letters of credit, whose contract amounts represent credit risk, was approximately $6,732,000 at December 31, 2019 and approximately $3,999,000 at December 31, 2018. Below is a summary of the current loan segments: Construction and land development loans consist primarily of loans for the purchase or refinance of unimproved lots or raw land. Additionally, the Company finances the construction of real estate projects typically where the permanent mortgage will remain with the Company. Specific underwriting guidelines are delineated in the Bank’s loan policies. Construction and land development loans carry risks that the project will not be finished according to schedule, the project will not be finished according to budget and the value of the collateral may, at any point in time, be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be a loan customer, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those specific to real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. Management monitors and evaluates commercial real estate loans based on cash flows, collateral, geography and risk grade criteria. Commercial real estate loans carry risks associated with the successful operation of a business or a real estate project, in addition to other risks associated with the ownership of real estate, because the repayment of these loans may be dependent upon the profitability and cash flows of the business or project. Consumer real estate loans include consumer purpose 1‑to‑4 family residential properties and home equity loans. Consumer purpose loans have underwriting standards that are heavily influenced by statutory requirements, which include, but are not limited to, documentation requirements, limits on maximum loan-to-value percentages, and collection remedies. Loans to finance 1‑4 family investment properties are primarily dependent upon rental income generated from the property and secondarily supported by the borrower’s personal income. The Company typically originates residential mortgages through our mortgage company and these loans are sold to secondary mortgage market correspondents. Consumer real estate loans carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral. Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Management examines current and projected cash flows to determine the ability of borrowers to repay their obligations as agreed. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected, and the collateral securing these loans may fluctuate in value. Most commercial and industrial loans are secured by the assets being financed or other business assets such as accounts receivable, inventory or marketable securities and may incorporate personal guarantees; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Government guaranteed balances represent Small Business Administration (“SBA”) loans originated by the Bank according to SBA guidelines. Consumer and other loans are generally small loans spread across many borrowers and are underwritten after determining the ability of the consumer borrower to repay their obligations as agreed. The underwriting standards are influenced by credit history, ability to repay, and loan-to-value. Consumer loans may be secured or unsecured and are comprised of revolving lines, installment loans and other consumer loans. Consumer and other loans carry risks associated with the continued credit-worthiness of the borrower and the value of the collateral, or lack thereof. Consumer loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy. Guaranteed student loans The Bank purchases Federal Rehabilitated Student Loan portfolios when approved by the Board of Directors. These loans are guaranteed by the U.S. Department of Education (“DOE”) which covers approximately 98% of the principal and interest. These loans are serviced by a third party servicer that specializes in handling these types of loans. We also purchase the guaranteed portion of United State Department of Agriculture Loans (“USDA”) which are guaranteed by the USDA for 100% of the principal and interest. The originating institution holds the unguaranteed portion of the loan and services the loan. These loans are typically purchased at a premium. In the event of a loan default or early prepayment the Bank may need to write off any unamortized premium. These loans are included in the commercial and industrial loan segment.
Allowance for loan losses	Allowance for loan losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is probable. Subsequent recoveries, if any, are credited to the allowance. The allowance represents an amount that, in management’s judgment, will be adequate to absorb probable losses inherent in the loan portfolio. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of loans while taking into consideration such factors as changes in the nature and volume of the loan portfolio, current economic conditions which may affect a borrower’s ability to repay, overall portfolio quality, and review of specific potential losses. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general and specific components. The general component covers non-classified loans and is based on historical loss experience and risk characteristics (i.e. trends in delinquencies and other nonperforming loans, changes in economic conditions on both a local and national level, and changes in the categories of loans comprising the loan portfolio) adjusted for qualitative factors. The specific component relates to loans that we have concluded, based on the value of collateral, guarantees and any other pertinent factors, have known losses. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis by either the present value of the expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent.
Troubled debt restructurings	Troubled debt restructurings A loan or lease is accounted for as a TDR if we, for economic or legal reasons related to the borrower’s financial condition, grant a significant concession to the borrower that we would not otherwise consider. A TDR may involve the receipt of assets from the debtor in partial or full satisfaction of the loan or lease, or a modification of terms such as a reduction of the stated interest rate or balance of the loan or lease, a reduction of accrued interest, an extension of the maturity date at a stated interest rate lower than the current market rate for a new loan with similar risk, or some combination of these concessions. TDRs generally remain categorized as nonperforming loans and leases until a six-month payment history has been maintained. In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described above under “ Allowance for loan losses ”. Certain loans modified as TDRs may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a TDR the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as TDRs that subsequently default are factored into the determination of the allowance in the same manner as other defaulted loans.
Real estate acquired in settlement of loans	Real estate acquired in settlement of loans Real estate acquired through or in lieu of foreclosure is initially recorded at estimated fair value less estimated selling costs establishing a new cost basis. Subsequent to the date of acquisition, it is carried at the lower of cost or fair value, adjusted for net selling costs. If fair value declines subsequent to foreclosure a valuation allowance is recorded through expense. Operating costs after acquisition are expensed as incurred. The valuation allowance was $52,000 at December 31, 2019 and 2018. Costs relating to the development and improvement of such property are capitalized when appropriate, whereas those costs relating to holding the property are expensed.
Assets held for sale	Assets held for sale Assets held for sale at December 31, 2019 and December 31, 2018 included a branch building we previously closed. The Company periodically evaluates the value of assets held for sale and records an impairment charge for any subsequent declines in fair value less selling costs.
Premises and equipment	Premises and equipment Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization. Depreciation of buildings and improvements is computed using the straight-line method over the estimated useful lives of the assets of 39 years. Depreciation of equipment is computed using the straight-line method over the estimated useful lives of the assets ranging from three to seven years. Amortization of premises (leasehold improvements) is computed using the straight-line method over the term of the lease or estimated lives of the improvements, whichever is shorter.
Supplemental Executive Retirement Plan	Supplemental Executive Retirement Plan The Company recognizes the unfunded status of its Supplemental Executive Retirement Plan (the “SERP”) as a liability in its Consolidated Balance Sheets, measured at the projected benefit obligation as of December 31, 2019 and 2018. Net periodic pension costs are recorded each period based on actuarially determined amounts in accordance with GAAP and recognized in salaries and employment benefits in the Consolidated Statements of Income. Actuarial determinations of net periodic pension cost are based on assumptions related to discount rates, employee compensation and mortality and interest crediting rates. Other changes in the status of the plan are recorded in the year in which the changes occur through other comprehensive income.
Income taxes	Income taxes Deferred income taxes are recognized for the tax consequences of “temporary differences” by applying enacted tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The effect on recorded deferred income taxes of a change in tax laws or rates is recognized in income in the period that includes the enactment date. To the extent that available evidence about the future raises doubt about the realization of a deferred income tax asset, a valuation allowance is established. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Interest and penalties associated with unrecognized tax benefits are classified as taxes other than income in the statement of income. The Company has no uncertain tax positions.
Consolidated statements of cash flows	Consolidated statements of cash flows For purposes of reporting cash flows, cash and cash equivalents include cash on hand, due from banks (including cash items in process of collection), interest-bearing deposits with banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. Cash flows from loans originated by the Bank for investment and deposits are reported net. The Company did not pay income taxes in 2019 and 2018.
Comprehensive income	Comprehensive income Total comprehensive income consists of net income and other comprehensive income (loss). At December 31, 2019 and 2018, the accumulated other comprehensive income (loss) was comprised of unrealized gains and (losses) on securities available for sale of $186,000 and $(696,000) and unfunded pension liability of ($44,000) and ($53,000) net of tax, respectively.
Earnings per common share	Earnings per common share Basic earnings per common share represent net income available to common shareholders, which represents net income less dividends paid or payable to preferred stock shareholders, divided by the weighted-average number of common shares outstanding during the period, inclusive of unvested restricted shares (Note 10). For diluted earnings per common share, net income available to common shareholders is divided by the weighted average number of common shares issued and outstanding for each period plus amounts representing the dilutive effect of stock options, and warrants, as well as any adjustment to income that would result from the assumed issuance. The effects of stock options and warrants are excluded from the computation of diluted earnings per common share in periods in which the effect would be antidilutive. Stock options and warrants are antidilutive if the underlying average market price of the stock that can be purchased for the period is less than the exercise price of the option or warrant. Potential dilutive common shares that may be issued by the Company relate solely to outstanding stock options and warrants and are determined using the treasury stock method.
Stock incentive plan	Stock incentive plan On May 26, 2015, the Company’s shareholders approved the adoption of the Village Bank and Trust Financial Corp. 2015 Stock Incentive Plan (the “2015 Plan”) authorizing the issuance of up to 60,000 shares of common stock. The 2015 Plan was adopted to replace the Company’s 2006 stock incentive plan (the “2006 Plan”) and any new awards will be made pursuant to the 2015 Plan. The prior awards made under the 2006 Plan were unchanged by the adoption of the 2015 Plan and continue to be governed by the terms of the 2006 Plan. See Note 14 for more information on the stock incentive plans.
Fair values of financial instruments	Fair values of financial instruments The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability (exit price) shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are independent, knowledgeable, able to transact and willing to transact. See Note 18 for the methods and assumptions the Bank uses in estimating fair values of financial instruments.
Revenue recognition	Revenue recognition The Company recognizes revenue as it is earned and noted no impact to its revenue recognition policies as a result of the adoption of ASU 2014-09. The following discussion is of revenues that are within the scope of the new revenue guidance: · Debit and credit interchange fee income - Card processing fees consist of interchange fees from consumer debit and credit card networks and other card related services. Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur. · Service charges on deposit accounts - Revenue from service charges on deposit accounts is earned through deposit-related services, as well as overdraft, non-sufficient funds, account management and other deposit related fees. Revenue is recognized for these services either over time, corresponding with deposit accounts' monthly cycle, or at a point in time for transactional related services and fees. · Service charges on loan accounts - Revenue from loan accounts consists primarily of fees earned on prepayment penalties. Revenue is recognized for the services at a point in time for transactional related services and fees. · Gains/Losses on sale of OREO - The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer.
Segments	Segments The Company has two reportable segments: traditional commercial banking and mortgage banking. Revenues from commercial banking operations consist primarily of interest earned on loans and securities and fees from deposit services. Mortgage banking operating revenues consist principally of interest earned on mortgage loans held for sale, gains on sales of loans in the secondary mortgage market, and loan origination fee income, net of commissions paid. The commercial banking segment provides the mortgage banking segment with the short-term funds needed to originate mortgage loans through a warehouse line of credit and charges the mortgage banking segment interest based on the commercial banking segment’s cost of funds. Additionally, the mortgage banking segment leases premises from the commercial banking segment. These transactions are eliminated in the consolidation process. See additional information at Note 19, Business segments.
Recent accounting pronouncements	Recent accounting pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016‑13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For Securities and Exchange Commission (“SEC”) filers, excluding smaller reporting companies, the standard became effective for fiscal years beginning after December 15, 2019, including interim periods in those fiscal years. All other entities will be required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company qualifies as a smaller reporting company and expects to adopt ASU 2016-13 effective January 1, 2023 While the Company is currently evaluating the provisions of ASU 2016‑13 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements, it has taken steps to prepare for the implementation when it becomes effective, such as forming an internal task force, gathering pertinent data, consulting with outside professionals, and evaluating its current IT systems. This guidance will result in material changes in the Company’s accounting for credit losses on financial instruments. In August 2018, the FASB issued ASU 2018‑13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement.” The amendments modify the disclosure requirements in Topic 820 to add disclosures regarding changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty. Certain disclosure requirements in Topic 820 are also removed or modified. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Certain of the amendments are to be applied prospectively while others are to be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of ASU 2018‑13 to have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018‑14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715‑20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans.” These amendments modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. Certain disclosure requirements have been deleted while the following disclosure requirements have been added: the weighted-average interest crediting rates for cash balance plans and other plans with promised interest crediting rates and an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The amendments also clarify the disclosure requirements in paragraph 715‑20‑50‑3, which state that the following information for defined benefit pension plans should be disclosed: The projected benefit obligation (“PBO”) and fair value of plan assets for plans with PBOs in excess of plan assets and the accumulated benefit obligation (“ABO”) and fair value of plan assets for plans with ABOs in excess of plan assets. The amendments are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company does not expect the adoption of ASU 2018‑14 to have a material impact on its consolidated financial statements. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments – Credit Losses.” This ASU addresses issues raised by stakeholders during the implementation of ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” Among other narrow—scope improvements, the new ASU clarifies guidance around how to report expected recoveries. “Expected recoveries” describes a situation in which an organization recognizes a full or partial write-off of the amortized cost basis of a financial asset, but then later determines that the amount written off, or a portion of that amount, will in fact be recovered. While applying the credit losses standard, stakeholders questioned whether expected recoveries were permitted on assets that had already shown credit deterioration at the time of purchase (also known as PCD assets). In response to this question, the ASU permits organizations to record expected recoveries on PCD assets. In addition to other narrow technical improvements, the ASU also reinforces existing guidance that prohibits organizations from recording negative allowances for available-for-sale debt securities. The ASU includes effective dates and transition requirements that vary depending on whether or not an entity has already adopted ASU 2016-13. The Company is currently assessing the impact that ASU 2019-11 will have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes.” The ASU is expected to reduce cost and complexity related to the accounting for income taxes by removing specific exceptions to general principles in Topic 740 (eliminating the need for an organization to analyze whether certain exceptions apply in a given period) and improving financial statement preparers’ application of certain income tax-related guidance. This ASU is part of the FASB’s simplification initiative to make narrow-scope simplifications and improvements to accounting standards through a series of short-term projects. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the impact that ASU 2019-12 will have on its consolidated financial statements. In January 2020, the FASB issued ASU 2020-01, “Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.” The ASU is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions. ASU 2020-01 amends ASU 2016-01, which made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Among other topics, the amendments in ASU 2020-01 clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 31, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of ASU 2020-01 to have a material impact on its consolidated financial statements.

Investment securities availab_2

Investment securities available for sale (Tables)	12 Months Ended
	Dec. 31, 2019
Investment securities available for sale
Schedule of amortized cost and fair value of investment securities available for sale	The amortized cost and fair value of investment securities available for sale as of December 31, 2019 and 2018 are as follows (in thousands): Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2019 U.S. Government agency obligations $ 14,797 $ 57 $ (9) $ 14,845 Mortgage-backed securities 25,124 204 (26) 25,302 Subordinated debt 6,779 91 (80) 6,790 $ 46,700 $ 352 $ (115) $ 46,937 December 31, 2018 U.S. Government agency obligations $ 14,120 $ — $ (269) $ 13,851 Mortgage-backed securities 26,924 102 (576) 26,450 Subordinated debt 4,089 11 (148) 3,952 $ 45,133 $ 113 $ (993) $ 44,253
Schedule of gross realized gains and losses pertaining to available for sale securities	Gross realized gains and losses pertaining to available for sale securities are detailed as follows for the years ended December 31, 2019 and 2018 (in thousands): December 31, 2019 2018 Gross realized gains $ 101 $ — Gross realized losses — (89) $ 101 $ (89)
Schedule of investment securities available for sale	Investment securities available for sale that had an unrealized loss position at December 31, 2019 and December 31, 2018 are detailed below (in thousands): Securities in a loss Securities in a loss position for less than position for more than 12 Months 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2019 U.S. Government agency obligations $ 2,001 $ (1) $ 5,368 $ (8) $ 7,369 $ (9) Mortgage-backed securities 2,747 (26) — — 2,747 (26) Subordinated debt 759 (6) 940 (74) 1,699 (80) $ 5,507 $ (33) $ 6,308 $ (82) $ 11,815 $ (115) December 31, 2018 U.S. Government agency obligations $ — $ — $ 13,851 $ (269) $ 13,851 $ (269) Mortgage-backed securities — — 18,397 (576) 18,397 (576) Subordinated debt 1,915 (140) 512 (8) 2,427 (148) $ 1,915 $ (140) $ 32,760 $ (853) $ 34,675 $ (993)
Schedule of investment by contractual maturity	The amortized cost and estimated fair value of investment securities available for sale as of December 31, 2019, by contractual maturity, are as follows (in thousands): Amortized Cost Fair Value Less than one year $ 4,121 $ 4,117 One to five years 8,670 8,695 Five to ten years 11,697 11,728 More than ten years 22,212 22,397 Total $ 46,700 $ 46,937

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2019
Loans
Schedule of composition of loan portfolio (excluding mortgage loans held for sale)	Loans classified by type as of December 31, 2019 and 2018 are as follows (dollars in thousands): December 31, 2019 December 31, 2018 Amount % Amount % Construction and land development Residential $ 7,887 1.84 % $ 7,704 1.86 % Commercial 24,063 5.60 % 33,904 8.18 % 31,950 7.44 % 41,608 10.04 % Commercial real estate Owner occupied 98,353 22.91 % 98,153 23.68 % Non-owner occupied 116,508 27.14 % 95,034 22.93 % Multifamily 13,332 3.10 % 13,597 3.28 % Farmland 156 0.04 % 185 0.04 % 228,349 53.19 % 206,969 49.93 % Consumer real estate Home equity lines 21,509 5.01 % 20,675 4.99 % Secured by 1-4 family residential, First deed of trust 55,856 13.01 % 57,410 13.85 % Second deed of trust 10,411 2.43 % 9,556 2.31 % 87,776 20.45 % 87,641 21.15 % Commercial and industrial loans (except those secured by real estate) 45,074 10.50 % 36,639 8.84 % Guaranteed student loans 33,525 7.81 % 39,315 9.49 % Consumer and other 2,621 0.61 % 2,258 0.55 % Total loans 429,295 100.0 % 414,430 100.0 % Deferred fees and costs, net 764 713 Less: allowance for loan losses (3,186) (3,051) $ 426,873 $ 412,092
Summary of loans directly or indirectly with executive officers or directors of the Company	The following is a summary of loans directly or indirectly with executive officers or directors of the Company for the years ended December 31, 2019 and 2018 (in thousands): 2019 2018 Beginning balance $ 5,201 $ 8,957 Additions 8,751 8,039 Effect of changes in composistion of related parties — (4,140) Reductions (8,629) (7,655) Ending balance $ 5,323 $ 5,201
Schedule of information on nonaccrual loans	The following table provides information on nonaccrual loans segregated by type at the dates indicated (dollars in thousands): December 31, December 31, 2019 2018 Construction and land development Commercial $ — $ 39 — 39 Commercial real estate Non-owner occupied 497 515 497 515 Consumer real estate Home equity lines 300 125 Secured by 1-4 family residential First deed of trust 842 1,163 Second deed of trust 63 154 1,205 1,442 Commercial and industrial loans (except those secured by real estate) 166 255 Consumer and other — 8 Total loans $ 1,868 $ 2,259
Schedule of information on the risk rating of loans	The following tables provide information on the risk rating of loans at the dates indicated (in thousands): Risk Rated Risk Rated Risk Rated Risk Rated Total 1‑4 5 6 7 Loans December 31, 2019 Construction and land development Residential $ 7,887 $ — $ — $ — $ 7,887 Commercial 23,758 — 305 — 24,063 31,645 — 305 — 31,950 Commercial real estate Owner occupied 90,146 8,072 135 — 98,353 Non-owner occupied 115,781 230 497 — 116,508 Multifamily 13,186 146 — — 13,332 Farmland 71 85 — — 156 219,184 8,533 632 — 228,349 Consumer real estate Home equity lines 20,486 723 300 — 21,509 Secured by 1-4 family residential First deed of trust 53,200 1,660 996 — 55,856 Second deed of trust 10,130 167 114 — 10,411 83,816 2,550 1,410 — 87,776 Commercial and industrial loans (except those secured by real estate) 41,837 2,891 346 — 45,074 Guaranteed student loans 33,525 — — — 33,525 Consumer and other 2,621 — — — 2,621 Total loans $ 412,628 $ 13,974 $ 2,693 $ — $ 429,295 Risk Rated Risk Rated Risk Rated Risk Rated Total 1‑4 5 6 7 Loans December 31, 2018 Construction and land development Residential $ 6,957 $ — $ 747 $ — $ 7,704 Commercial 33,432 6 466 — 33,904 40,389 6 1,213 — 41,608 Commercial real estate Owner occupied 88,484 6,540 3,129 — 98,153 Non-owner occupied 94,519 — 515 — 95,034 Multifamily 13,436 161 — — 13,597 Farmland 81 104 — — 185 196,520 6,805 3,644 — 206,969 Consumer real estate Home equity lines 19,601 934 140 — 20,675 Secured by 1-4 family residential First deed of trust 53,994 1,612 1,804 — 57,410 Second deed of trust 9,167 175 214 — 9,556 82,762 2,721 2,158 — 87,641 Commercial and industrial loans (except those secured by real estate) 32,776 3,349 499 15 36,639 Guaranteed student loans 39,315 — — — 39,315 Consumer and other 2,239 8 11 — 2,258 Total loans $ 394,001 $ 12,889 $ 7,525 $ 15 $ 414,430
Schedule of aging of recorded investment in past due loans and leases	The following tables present the aging of the recorded investment in past due loans as of the dates indicated (in thousands): Recorded Greater Investment > 30‑59 Days 60‑89 Days Than Total Past Total 90 Days and Past Due Past Due 90 Days Due Current Loans Accruing December 31, 2019 Construction and land development Residential $ — $ — $ — $ — $ 7,887 $ 7,887 $ — Commercial — — — — 24,063 24,063 — — — — — 31,950 31,950 — Commercial real estate Owner occupied 701 — — 701 97,652 98,353 — Non-owner occupied — — — — 116,508 116,508 — Multifamily — — — — 13,332 13,332 — Farmland — — — — 156 156 — 701 — — 701 227,648 228,349 — Consumer real estate Home equity lines 52 — — 52 21,457 21,509 — Secured by 1‑4 family residential First deed of trust 290 — — 290 55,566 55,856 — Second deed of trust 133 — — 133 10,278 10,411 — 475 — — 475 87,301 87,776 — Commercial and industrial loans (except those secured by real estate) 773 — — 773 44,301 45,074 — Guaranteed student loans 1,694 1,309 2,567 5,570 27,955 33,525 2,567 Consumer and other 4 — — 4 2,617 2,621 — Total loans $ 3,647 $ 1,309 $ 2,567 $ 7,523 $ 421,772 $ 429,295 $ 2,567 Recorded Greater Investment > 30-59 Days 60-89 Days Than Total Past Total 90 Days and Past Due Past Due 90 Days Due Current Loans Accruing December 31, 2018 Construction and land development Residential $ — $ — $ — $ — $ 7,704 $ 7,704 $ — Commercial 118 — — 118 33,786 33,904 — 118 — — 118 41,490 41,608 — Commercial real estate Owner occupied — — — — 98,153 98,153 — Non-owner occupied — — — — 95,034 95,034 — Multifamily — — — — 13,597 13,597 — Farmland — — — — 185 185 — — — — — 206,969 206,969 — Consumer real estate Home equity lines — 315 — 315 20,360 20,675 — Secured by 1-4 family residential First deed of trust 171 7 — 178 57,232 57,410 — Second deed of trust 162 — — 162 9,394 9,556 — 333 322 — 655 86,986 87,641 — Commercial and industrial loans (except those secured by real estate) 312 433 — 745 35,894 36,639 — Guaranteed student loans 1,946 971 5,573 8,490 30,825 39,315 5,573 Consumer and other 9 1 — 10 2,248 2,258 — Total loans $ 2,718 $ 1,727 $ 5,573 $ 10,018 $ 404,412 $ 414,430 $ 5,573
Schedule of impaired loans	Impaired loans are set forth in the following table as of the dates indicated (in thousands): December 31, 2019 December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no related allowance recorded Construction and land development Residential $ — $ — $ — $ 747 $ 747 $ — Commercial 337 337 — 360 458 — 337 337 — 1,107 1,205 — Commercial real estate Owner occupied 2,089 2,104 — 3,703 3,703 — Non-owner occupied 2,304 2,304 — 2,588 2,588 — 4,393 4,408 — 6,291 6,291 — Consumer real estate Home equity lines 300 300 — 684 684 — Secured by 1‑4 family residential First deed of trust 1,752 1,774 — 3,057 3,057 — Second deed of trust 752 960 — 721 929 — 2,804 3,034 — 4,462 4,670 — Commercial and industrial loans (except those secured by real estate) 211 373 — 528 875 — 7,745 8,152 — 12,388 13,041 — With an allowance recorded Construction and land development Commercial — — — 106 106 8 — — — 106 106 8 Commercial real estate Owner occupied 1,414 1,414 15 1,459 1,459 25 1,414 1,414 15 1,459 1,459 25 Consumer real estate Secured by 1-4 family residential First deed of trust 78 78 9 200 200 20 Second deed of trust — — — 161 161 4 78 78 9 361 361 24 Commercial and industrial loans (except those secured by real estate) 135 334 135 8 8 8 Consumer and other — — — 9 9 9 1,627 1,826 159 1,943 1,943 74 Total Construction and land development Residential — — — 747 747 — Commercial 337 337 — 466 564 8 337 337 — 1,213 1,311 8 Commercial real estate Owner occupied 3,503 3,518 15 5,162 5,162 25 Non-owner occupied 2,304 2,304 — 2,588 2,588 — 5,807 5,822 15 7,750 7,750 25 Consumer real estate Home equity lines 300 300 — 684 684 — Secured by 1-4 family residential, First deed of trust 1,830 1,852 9 3,257 3,257 20 Second deed of trust 752 960 — 882 1,090 4 2,882 3,112 9 4,823 5,031 24 Commercial and industrial loans (except those secured by real estate) 346 707 135 536 883 8 Consumer and other — — — 9 9 9 $ 9,372 $ 9,978 $ 159 $ 14,331 $ 14,984 $ 74
Schedule of average recorded investment in impaired loans	The following is a summary of average recorded investment in impaired loans with and without valuation allowance and interest income recognized on those loans for periods indicated (in thousands): December 31, 2019 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no related allowance recorded Construction and land development Residential $ 81 $ — $ 187 $ — Commercial 329 — 510 14 410 — 697 14 Commercial real estate Owner occupied 2,695 143 3,770 148 Non-owner occupied 2,434 128 2,618 121 5,129 271 6,388 269 Consumer real estate Home equity lines 318 19 524 — Secured by 1-4 family residential First deed of trust 2,280 76 3,016 96 Second deed of trust 810 40 692 48 3,408 135 4,232 144 Commercial and industrial loans (except those secured by real estate) 626 17 458 38 Consumer and other — — 1 1 9,573 423 11,776 466 With an allowance recorded Construction and land development Commercial — — 26 — — — 26 — Commercial real estate Owner occupied 1,432 43 1,469 61 1,432 43 1,469 61 Consumer real estate Home equity lines — — 33 — Secured by 1-4 family residential First deed of trust 166 6 365 23 Second deed of trust — — 164 8 166 6 562 31 Commercial and industrial loans (except those secured by real estate) 225 1 361 1 Consumer and other 6 — 13 — 1,829 50 2,431 93 Total Construction and land development Residential 81 — 187 — Commercial 329 — 536 14 410 — 723 14 Commercial real estate Owner occupied 4,127 186 5,239 209 Non-owner occupied 2,434 128 2,618 121 6,561 314 7,857 330 Consumer real estate Home equity lines 318 19 557 — Secured by 1-4 family residential, First deed of trust 2,446 82 3,381 119 Second deed of trust 810 40 856 56 3,574 141 4,794 175 Commercial and industrial loans (except those secured by real estate) 851 18 819 39 Consumer and other 6 — 14 1 $ 11,402 $ 473 $ 14,207 $ 559
Schedule of troubled debt restructurings on financing receivables	The following is a summary of performing and nonaccrual TDRs and the related specific valuation allowance by portfolio segment as of December 31, 2019 and 2018 (dollars in thousands). Specific Valuation Total Performing Nonaccrual Allowance December 31, 2019 Commercial real estate Owner occupied $ 3,502 $ 3,502 $ — $ 15 Non-owner occupied 2,304 1,807 497 — 5,806 5,309 497 15 Consumer real estate Secured by 1-4 family residential First deeds of trust 1,641 881 760 9 Second deeds of trust 752 689 63 — 2,393 1,570 823 9 Commercial and industrial loans (except those secured by real estate) 211 180 31 — $ 8,410 $ 7,059 $ 1,351 $ 24 Number of loans 38 29 9 3 Specific Valuation Total Performing Nonaccrual Allowance December 31, 2018 Commercial real estate Owner occupied 4,064 4,064 — 25 Non-owner occupied 2,072 2,072 — — 6,136 6,136 — 25 Consumer real estate Secured by 1-4 family residential First deeds of trust 2,284 1,525 759 20 Second deeds of trust 794 729 65 4 3,078 2,254 824 24 Commercial and industrial loans (except those secured by real estate) 317 282 35 — $ 9,531 $ 8,673 $ 859 $ 49 Number of loans 42 33 9 6
Schedule of troubled debt restructurings on financing receivables modification	The following table provides information about TDRs identified during the indicated periods (dollars in thousands). December 31, 2019 December 31, 2018 Pre- Post- Pre- Post- Modification Modification Modification Modification Number of Recorded Recorded Number of Recorded Recorded Loans Balance Balance Loans Balance Balance Commercial real estate Non-owner occupied $ $ — $ — $ — Secured by 1-4 family residential First deed of trust — — — 1 73 73 1 $ 515 $ 515 1 $ 73 $ 73

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2019
Allowance for Loan Losses
Schedule of activity in the allowance for loan losses	Activity in the allowance for loan losses was as follows for the periods indicated (in thousands): Provision for Beginning (Recovery of) Ending Balance Loan Losses Charge-offs Recoveries Balance Year Ended December 31, 2019 Construction and land development Residential $ 42 $ (1) $ — $ 7 $ 48 Commercial 220 (85) — 2 137 262 (86) — 9 185 Commercial real estate Owner occupied 673 (2) — — 671 Non-owner occupied 673 158 — — 831 Multifamily 87 (2) — — 85 Farmland 2 — — — 2 1,435 154 — — 1,589 Consumer real estate Home equity lines 244 50 (35) 12 271 Secured by 1-4 family residential First deed of trust 385 (56) — 14 343 Second deed of trust 51 (56) — 69 64 680 (62) (35) 95 678 Commercial and industrial loans (except those secured by real estate) 308 239 (64) 89 572 Student loans 121 80 (93) — 108 Consumer and other 34 (3) (26) 25 30 Unallocated 211 (187) — — 24 $ 3,051 $ 135 $ (218) $ 218 $ 3,186 Year Ended December 31, 2018 Construction and land development Residential $ 32 $ 9 $ — $ 1 $ 42 Commercial 165 49 — 6 220 197 58 — 7 262 Commercial real estate Owner occupied 624 49 — — 673 Non-owner occupied 500 (45) — 218 673 Multifamily 60 27 — — 87 Farmland 3 (1) — — 2 1,187 30 — 218 1,435 Consumer real estate Home equity lines 268 39 (64) 1 244 Secured by 1-4 family residential First deed of trust 502 (97) (41) 21 385 Second deed of trust 47 6 (45) 43 51 817 (52) (150) 65 680 Commercial and industrial loans (except those secured by real estate) 556 (50) (375) 177 308 Student loans 108 118 (105) — 121 Consumer and other 27 32 (34) 9 34 Unallocated 347 (136) — — 211 $ 3,239 $ — $ (664) $ 476 $ 3,051
Schedule of loans evaluated for impairment	Loans were evaluated for impairment as follows for the periods indicated (in thousands): Recorded Investment in Loans Allowance Loans Ending Ending Balance Individually Collectively Balance Individually Collectively Year Ended December 31, 2019 Construction and land development Residential $ 48 $ — $ 48 $ 7,887 $ — $ 7,887 Commercial 137 — 137 24,063 337 23,726 185 — 185 31,950 337 31,613 Commercial real estate Owner occupied 671 15 656 98,353 3,503 94,850 Non-owner occupied 831 — 831 116,508 2,304 114,204 Multifamily 85 — 85 13,332 — 13,332 Farmland 2 — 2 156 — 156 1,589 15 1,574 228,349 5,807 222,542 Consumer real estate Home equity lines 271 — 271 21,509 300 21,209 Secured by 1-4 family residential First deed of trust 343 9 334 55,856 1,830 54,026 Second deed of trust 64 — 64 10,411 752 9,659 678 9 669 87,776 2,882 84,894 Commercial and industrial loans (except those secured by real estate) 572 135 437 45,074 346 44,728 Student loans 108 — 108 33,525 — 33,525 Consumer and other 54 — 54 2,621 — 2,621 $ 3,186 $ 159 $ 3,027 $ 429,295 $ 9,372 $ 419,923 Year Ended December 31, 2018 Construction and land development Residential $ 42 $ — $ 42 $ 7,704 $ 747 $ 6,957 Commercial 220 8 212 33,904 466 33,438 262 8 254 41,608 1,213 40,395 Commercial real estate Owner occupied 673 25 648 98,153 5,162 92,991 Non-owner occupied 673 — 673 95,034 2,588 92,446 Multifamily 87 — 87 13,597 — 13,597 Farmland 2 — 2 185 — 185 1,435 25 1,410 206,969 7,750 199,219 Consumer real estate Home equity lines 244 — 244 20,675 684 19,991 Secured by 1-4 family residential First deed of trust 385 20 365 57,410 3,257 54,153 Second deed of trust 51 4 47 9,556 882 8,674 680 24 656 87,641 4,823 82,818 Commercial and industrial loans (except those secured by real estate) 308 8 300 36,639 536 36,103 Student loans 121 — 121 39,315 — 39,315 Consumer and other 245 9 236 2,258 9 2,249 $ 3,051 $ 74 $ 2,977 $ 414,430 $ 14,331 $ 400,099

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Premises and Equipment
Schedule of premises and equipment	The following is a summary of premises and equipment as of December 31, 2019 and 2018 (in thousands): 2019 2018 Land $ 4,352 $ 4,352 Buildings and improvements 10,601 10,479 Furniture, fixtures and equipment 7,479 7,377 Total premises and equipment 22,432 22,208 Less: Accumulated depreciation and amortization (10,396) (9,753) Premises and equipment, net $ 12,036 $ 12,455

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2019
Deposits
Schedule of deposits	Deposits as of December 31, 2019 and 2018 were as follows (dollars in thousands): December 31, 2019 December 31, 2018 Amount % Amount % Checking accounts Noninterest bearing demand $ 131,228 29.6 % $ 119,317 27.2 % Interest bearing 48,428 10.9 % 49,188 11.2 % Money market accounts 99,955 22.6 % 86,295 19.7 % Savings accounts 26,396 6.0 % 28,694 6.5 % Time deposits of $250,000 and over 22,327 5.0 % 24,160 5.5 % Other time deposits 114,874 25.9 % 131,393 29.9 % Total $ 443,208 100.0 % $ 439,047 100.0 %
Schedule of maturities of time deposits	The following are the scheduled maturities of time deposits as of December 31, 2019 (in thousands): Greater than Year Ending Less Than or Equal to December 31, $250,000 $250,000 Total 2020 $ 64,875 $ 17,088 $ 81,963 2021 32,447 1,957 34,404 2022 11,406 3,027 14,433 2023 4,861 255 5,116 2024 1,285 — 1,285 Total $ 114,874 $ 22,327 $ 137,201

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Borrowings
Schedule of advances from the FHLB	The Company had advances from the FHLB for the periods indicated that consisted of the following (dollars in thousands): Year Ended December 31, 2019 Maturity Interest Advance Type Date Rate Amount Variable June 29, 2020 1.780 % $ 8,000 Fixed Rate June 28, 2021 2.854 % 3,000 Fixed Rate July 6, 2020 2.770 % 5,000 Fixed Rate September 27, 2021 3.102 % 2,000 Fixed Rate September 25, 2023 3.212 % 2,000 Fixed Rate November 15, 2021 3.149 % 6,500 Fixed Rate December 11, 2023 3.289 % 2,500 $ 29,000 Year Ended December 31, 2018 Maturity Interest Advance Type Date Rate Amount Fixed Rate June 28, 2021 2.854 % $ 3,000 Fixed Rate July 6, 2020 2.770 % 5,000 Fixed Rate September 27, 2021 3.102 % 2,000 Fixed Rate September 25, 2023 2.212 % 2,000 Fixed Rate November 15, 2021 3.149 % 6,500 Fixed Rate December 11, 2023 3.289 % 2,500 $ 21,000
Schedule of Debt	Information related to borrowings as of December 31, 2019 and 2018 is as follows (dollars in thousands): Year Ended December 31, 2019 2018 Maximum outstanding during the year FHLB advances $ 31,000 $ 25,500 Balance outstanding at end of year FHLB advances 29,000 21,000 Average amount outstanding during the year FHLB advances 22,693 18,470 Average interest rate during the year FHLB advances 3.05 % 2.26 % Average interest rate at end of year FHLB advances 2.69 % 3.03 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Taxes
Schedule of deferred tax assets and liabilities	The following summarizes the tax effects of temporary differences that comprise deferred tax assets and liabilities at December 31, 2019 and 2018 (in thousands): 2019 2018 Deferred tax assets Net operating loss carryforward $ 2,995 $ 4,181 Capital loss carryforward 25 44 State net operating loss carryfoward 97 114 AMT credit 11 22 Allowance for loan losses 669 641 Unrealized loss on available-for-sale securities — 185 Interest on nonaccrual loans 29 50 Expenses and writedowns related to foreclosed property 97 94 Stock compensation 10 58 Employee benefits 792 721 Pension expense 8 12 Depreciation 134 136 Other, net 11 6 Total deferred tax assets 4,878 6,264 Deferred tax liabilities Unrealized gain on available for sale securities 50 — Total deferred tax liabilities 50 — Net deferred tax asset $ 4,828 $ 6,264
Schedule of Provision for income taxes	The income tax expense charged to operations for the years ended December 31, 2019 and 2018 consists of the following (in thousands): 2019 2018 Current tax expense (benefit) $ (33) $ 3 Deferred tax expense 1,197 690 Provision for income taxes $ 1,164 $ 693
Schedule of effective income tax rate reconciliation	A reconciliation of income taxes computed at the federal statutory income tax rate to total income taxes is as follows for the years ended December 31, 2019 and 2018 (in thousands): 2019 2018 Net income before income taxes $ 5,641 $ 3,730 Computed "expected" tax expense $ 1,185 $ 783 State taxes, net of fed 15 (33) Cash surrender value of life insurance (37) (36) Other 1 (21) Provision for income taxes $ 1,164 $ 693

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings per Share
Schedule of basic and diluted earnings per share	The following table presents the basic and diluted earnings per share computations (in thousands except per share data): 2019 2018 Numerator Net income - basic and diluted $ 4,477 $ 3,037 Preferred stock dividend — (113) Net income available to common shareholders $ 4,477 $ 2,924 Denominator Weighted average shares outstanding - basic 1,445 1,433 Dilutive effect of common stock options — — Weighted average shares outstanding - diluted 1,445 1,433 Earnings per share - basic $ 3.10 $ 2.04 Earnings per share - diluted $ 3.10 $ 2.04

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2019
Lease Commitments
Schedule of information about the Company's leases	The following tables present information about the Company's leases (dollars in thousands): December 31, 2019 Lease liabilities $ 1,027 Right-of-use assets $ 1,015 Weighted average remaining lease term 4.29 years Weighted average discount rate 2.98 % For the year ended December 31, 2019 Lease cost Operating lease cost $ 427 Total lease cost $ 427
Schedule of maturity analysis of operating lease liabilities	A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows (dollars in thousands): As of December 31, 2019 Lease payments due Twelve months ending December 31, 2020 $ 416 Twelve months ending December 31, 2021 277 Twelve months ending December 31, 2022 120 Twelve months ending December 31, 2023 44 Twelve months ending December 31, 2024 48 Thereafter 203 Total undiscounted cash flows $ 1,108 Discount 81 Lease liabilities $ 1,027

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies
Schedule of off balance sheet financial instruments	At December 31, 2019 and 2018, the Company had outstanding the following approximate off-balance-sheet financial instruments whose contract amounts represent credit risk (in thousands): December 31, December 31, 2019 2018 Undisbursed credit lines $ 83,366 $ 66,057 Commitments to extend or originate credit 15,722 12,738 Standby letters of credit 6,732 3,999 Total commitments to extend credit $ 105,820 $ 82,794

Shareholders' Equity and Regu_2

Shareholders' Equity and Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2019
Shareholders' Equity and Regulatory Matters
Schedule of accumulated other comprehensive loss	The following table presents the cumulative balances of the components of accumulated other comprehensive income (loss), net of deferred taxes of $38,000 and $199,000 as of December 31, 2019 and 2018, respectively (in thousands): Year Ended December 31, 2019 2018 Net unrealized gains (losses) on securities $ 186 $ (696) Net unrecognized losses on defined benefit plan (44) (53) Total other comprehensive income (loss) $ 142 $ (749)
Schedule of capital amounts and ratios	The capital amounts and ratios at December 31, 2019 and 2018 for the Bank are presented in the table below (dollars in thousands): For Capital Actual Adequacy Purposes To be Well Capitalized Amount Ratio Amount Ratio Amount Ratio December 31, 2019 Total capital (to risk- weighted assets) Village Bank $ 54,653 12.56 % $ 34,807 8.00 % $ 43,508 10.00 % Tier 1 capital (to risk- weighted assets) Village Bank 52,867 12.15 % 26,015 6.00 % 34,807 8.00 % Leverage ratio (Tier 1 capital to average assets) Village Bank 52,867 9.69 % 21,823 4.00 % 27,278 5.00 % Common equity tier 1 (to risk- weighted assets) Village Bank 52,867 12.15 % 19,579 4.50 % 28,280 6.50 % December 31, 2018 Total capital (to risk- weighted assets) Village Bank $ 49,926 12.46 % $ 32,051 8.00 % $ 40,064 10.00 % Tier 1 capital (to risk- weighted assets) Village Bank 46,875 11.70 % 24,038 6.00 % 32,051 8.00 % Leverage ratio (Tier 1 capital to average assets) Village Bank 46,875 9.15 % 20,502 4.00 % 25,628 5.00 % Common equity tier 1 (to risk- weighted assets) Village Bank 46,875 11.70 % 18,029 4.50 % 26,042 6.50 %

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2019
Stock Incentive Plans
Schedule of options outstanding under company's stock incentive plan	The following table summarizes options outstanding under the Company’s stock incentive plans at the indicated dates: Year Ended December 31, 2019 2018 Weighted Weighted Average Average Exercise Fair Value Intrinsic Exercise Fair Value Intrinsic Options Price Per Share Value Options Price Per Share Value Options outstanding, beginning of period 734 $ 25.63 $ 9.76 2,245 $ 24.17 $ 12.88 Granted — — — — — — Forfeited — — — — — — Exercised — — — (1,511) 23.46 14.39 Options outstanding, end of period 734 $ 25.63 $ 9.76 $ — 734 $ 25.63 $ 9.76 $ — Options exercisable, end of period 734 734
Schedule of information about stock options outstanding	The following table summarizes information about stock options outstanding at December 31, 2019: Outstanding Exercisable Weighted Average Remaining Weighted Weighted Years of Average Average Range of Number of Contractual Exercise Number of Exercise Exercise Prices Options Life Price Options Price $25.28-$25.76 734 $ 25.63 734 $ 25.63 734 25.63 734 25.63
Schedule of company's non vested restricted stock awards	A summary of changes in the Company’s non-vested restricted stock awards for the year follows: Weighted- Average Aggregate Grant-Date Intrinsic Shares Fair-Value Value December 31, 2018 23,449 $ 32.46 $ 870,192 Granted 12,510 33.83 464,246 Vested (18,567) 29.89 (689,021) Forfeited (8,274) 27.98 (307,048) Other (1) 3,192 33.75 118,455 December 31, 2019 12,310 $ 33.83 $ 456,824

Fair value (Tables)

Fair value (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value
Schedule of recurring and Non recurring basis	Assets and liabilities measured at fair value under Topic 820 on a recurring and non-recurring basis are summarized below for the indicated dates (in thousands): Fair Value Measurement at December 31, 2019 Using Quoted Prices in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial Assets - Recurring U.S. Government Agencies $ 14,845 $ — $ 14,845 $ — Mortgage-backed securities 25,302 — 25,302 — Subordinated debt 6,790 — 6,540 250 Financial Assets - Non-Recurring Impaired loans 1,468 — — 1,468 Assets held for sale 514 — — 514 Other real estate owned 526 — — 526 Fair Value Measurement at December 31, 2018 Using Quoted Prices in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial Assets - Recurring U.S. Government Agencies $ 13,851 $ — $ 13,851 $ — Mortgage-backed securities 26,450 — 26,450 — Subordinated debt 3,952 — 3,452 500 Financial Assets - Non-Recurring Impaired loans 1,868 — — 1,868 Assets held for sale 554 — — 554 Other real estate owned 526 — — 526
Schedule of financial instruments measured at fair value	The following table presents qualitative information about Level 3 fair value measurements for financial instruments measured at fair value for the years ended December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 Range Fair Value Valuation Unobservable (Weighted Estimate Techniques Input Average) Impaired loans - real estate secured $ 1,468 Appraisal (1) or Internal Valuation (2) Selling costs 6%‑10% (7%) Discount for lack of marketability and age of appraisal 6%‑30% (10%) Assets held for sale $ 514 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) Discount for lack of marketability and age of appraisal 6%-30% (15%) Other real estate owned $ 526 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) (1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally includes various level 3 inputs which are not identifiable (2) Internal valuations may be conducted to determine Fair Value for assets with nominal carrying balances December 31, 2018 Range Fair Value Valuation Unobservable (Weighted Estimate Techniques Input Average) Impaired loans - real estate secured $ 1,868 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) Discount for lack of marketability and age of appraisal 6%-30% (10%) Assets held for sale $ 554 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) Discount for lack of marketability and age of appraisal 6%-30% (15%) Other real estate owned $ 526 Appraisal (1) or Internal Valuation (2) Selling costs 6%-10% (7%) (1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally includes various level 3 inputs which are not identifiable (2) Internal valuations may be conducted to determine Fair Value for assets with nominal carrying balances
Schedule of company's financial instruments whether or not recognized	December 31, December 31, 2019 2018 Level in Fair Value Carrying Estimated Carrying Estimated Hierarchy Value Fair Value Value Fair Value (In thousands) Financial assets Cash Level 1 $ 19,967 $ 19,967 $ 12,717 $ 12,717 Cash equivalents Level 2 — — 6,826 6,826 Investment securities available for sale Level 2 46,687 46,687 43,753 43,753 Investment securities available for sale Level 3 250 250 500 500 Federal Home Loan Bank stock Level 2 1,694 1,694 1,320 1,320 Loans held for sale Level 2 12,722 12,722 6,128 6,128 Loans Level 3 427,827 429,254 412,562 409,939 Impaired loans Level 3 1,468 1,468 1,868 1,868 Assets held for sale Level 3 514 514 554 554 Other real estate owned Level 3 526 526 526 526 Bank owned life insurance Level 3 7,612 7,612 7,441 7,441 Accrued interest receivable Level 2 2,597 2,597 2,662 2,662 Financial liabilities Deposits Level 2 443,208 443,645 439,047 439,125 FHLB borrowings Level 2 29,000 29,285 21,000 21,093 Trust preferred securities Level 2 8,764 9,812 8,764 8,852 Other borrowings Level 2 10,912 10,912 5,563 5,563 Accrued interest payable Level 2 221 221 221 221

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting
Schedule of segment information	The following table presents segment information as of and for the years ended December 31, 2019 and 2018 (in thousands): Commercial Mortgage Consolidated Banking Banking Eliminations Totals Year Ended December 31, 2019 Revenues Interest income $ 23,079 $ 539 $ (131) $ 23,487 Gain on sale of loans — 6,205 — 6,205 Other revenues 3,044 754 (220) 3,578 Total revenues 26,123 7,498 (351) 33,270 Expenses Provision for loan losses 135 — — 135 Interest expense 5,330 131 (131) 5,330 Salaries and benefits 9,047 3,194 — 12,241 Commissions — 1,875 — 1,875 Other expenses 7,209 1,059 (220) 8,048 Total operating expenses 21,721 6,259 (351) 27,629 Income before income taxes 4,402 1,239 — 5,641 Income tax expense 904 260 — 1,164 Net income $ 3,498 $ 979 $ — $ 4,477 Total assets $ 542,053 $ 10,924 $ (12,664) $ 540,313 Commercial Mortgage Consolidated Banking Banking Eliminations Totals Year Ended December 31, 2018 Revenues Interest income $ 20,768 $ 309 $ (9) $ 21,068 Gain on sale of loans — 5,207 — 5,207 Other revenues 2,290 648 (210) 2,728 Total revenues 23,058 6,164 (219) 29,003 Expenses Interest expense 3,908 9 (9) 3,908 Salaries and benefits 8,360 3,265 — 11,625 Commissions — 1,744 — 1,744 Other expenses 7,145 1,061 (210) 7,996 Total operating expenses 19,413 6,079 (219) 25,273 Income before income taxes 3,645 85 — 3,730 Income tax expense 672 21 693 Net income $ 2,973 $ 64 $ — $ 3,037 Total assets $ 517,913 $ 9,504 $ (12,551) $ 514,866

Parent Corporation Only Finan_2

Parent Corporation Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2019
Parent Corporation Only Financial Statements
Condensed Balance Sheet	Village Bank and Trust Financial Corp. (Parent Corporation Only) Condensed Balance Sheet (in thousands) December 31, December 31, 2019 2018 Assets Cash and due from banks $ 1,007 $ 877 Investment in subsidiaries 53,768 48,272 Investment in special purpose subsidiary 264 264 Prepaid expenses and other assets 2,284 2,094 $ 57,323 $ 51,507 Liabilities and Shareholders’ Equity Liabilities Balance due to nonbank subsidiaries $ 8,764 $ 8,764 Other borrowings 5,595 5,563 Accrued interest payable 47 47 Other liabilities 3 — Total liabilities 14,409 14,374 Shareholders’ equity Common stock 5,779 5,707 Additional paid-in capital 54,285 53,212 Common stock warrant — 732 Accumulated deficit (17,292) (21,769) Stock in directors rabbi trust (856) (883) Directors deferred fees obligation 856 883 Accumulated other comprehensive income (loss) 142 (749) Total stockholders’ equity 42,914 37,133 $ 57,323 $ 51,507
Condensed Statements of Operations and Comprehensive Income	Village Bank and Trust Financial Corp. (Parent Corporation Only) Condensed Statements of Operations and Comprehensive Income Years Ended December 31, 2019 and 2018 (in thousands) 2019 2018 Interest income Village Bank money market $ 3 $ 4 Interest expense Interest on borrowed funds 775 653 Total interest expense 775 653 Net interest expense (772) (649) Noninterest expense Supplies 30 28 Professional and outside services 61 69 Other 42 41 Total noninterest expense 133 138 Net loss before undistributed income of subsidiary (905) (787) Undistributed income of subsidiary 5,192 3,659 Net income before income tax benefit 4,287 2,872 Income tax benefit (190) (165) Net income $ 4,477 $ 3,037 Total comprehensive income $ 5,368 $ 2,740
Condensed Statements of Cash Flows	Village Bank and Trust Financial Corp. (Parent Corporation Only) Condensed Statements of Cash Flows Years Ended December 31, 2019 and 2018 (in thousands) 2019 2018 Cash Flows from Operating Activities Net income $ 4,477 $ 3,037 Adjustments to reconcile net income to net cash used in operating activities Amortization of debt issuance costs 32 24 Undistributed income of subsidiary (5,192) (3,659) Net change in: Other assets (190) (163) Interest Payable — 47 Other liabilities 3 (53) Net cash used in operating activities (870) (767) Cash Flows from Investing Activities Dividend from subsidiary 1,000 — Net cash provided by investing activities 1,000 — Cash Flows from Financing Activities Proceeds from exercise of stock options — 35 Redemption of preferred stock — (5,027) Payment of preferred dividends — (113) Issuance of Subordinated debt, net — 5,539 Net cash provided by financing activities — 434 Net increase (decrease) in cash 130 (333) Cash, beginning of year 877 1,210 Cash, end of year $ 1,007 $ 877

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019	May 26, 2015
Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset	$ 1,015,000
Operating Lease, Liability	1,027,000
Gain (Loss) on Sale of Mortgage Loans	6,205,000	$ 5,207,000
Loan Commitments To Third Party Investors	28,444,000
Participating Mortgage Loans, Mortgage Obligations, Amount	15,722,000
Interest and Fee Income, Loans Held-for-sale, Mortgages	$ 12,722,000
Loan Non Accrual Period	90 days
Loan Accrual Period	90 days
Contractual amount of standby letters of credit	$ 6,732,000	3,999,000
Real Estate Owned, Valuation Allowance	$ 52,000	52,000
Property, Plant and Equipment, Useful Life	39 years
Accumulated Other Comprehensive Income (Loss), Debt Securities, Available-for-sale, Adjustment, after Tax	$ 186,000	(696,000)
Net unrecognized losses on defined benefit plan	(44,000)	$ (53,000)
Reclassification Adjustment Due to Adoption of Accounting Standard Update	$ 0
US Department of Education [Member]
Accounting Policies [Line Items]
Percentages Of Principal And Accrued Interest Covered By Guarantee	98.00%
United State Department of Agriculture Loans [Member]
Accounting Policies [Line Items]
Percentages Of Principal And Accrued Interest Covered By Guarantee	100.00%
Accounting Standards Update 2016-02 [Member]
Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset			$ 1,400,000
Operating Lease, Liability			$ 1,400,000
Stock Incentive Plan 2015 [Member]
Accounting Policies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				60,000
Minimum [Member]
Accounting Policies [Line Items]
Period of issuance and closing range	45 days
Maximum [Member]
Accounting Policies [Line Items]
Period of issuance and closing range	30 days

Investment securities availab_3

Investment securities available for sale - Amortized cost and fair value of investment securities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 46,700	$ 45,133
Gross Unrealized Gains	352	113
Gross Unrealized Losses	(115)	(993)
Fair Value	46,937	44,253
U.S. Government Agencies Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14,797	14,120
Gross Unrealized Gains	57	0
Gross Unrealized Losses	(9)	(269)
Fair Value	14,845	13,851
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,124	26,924
Gross Unrealized Gains	204	102
Gross Unrealized Losses	(26)	(576)
Fair Value	25,302	26,450
Subordinated Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,779	4,089
Gross Unrealized Gains	91	11
Gross Unrealized Losses	(80)	(148)
Fair Value	$ 6,790	$ 3,952

Investment securities availab_4

Investment securities available for sale - Summary of Gross realized gains and losses to available for sale securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investment securities available for sale
Gross realized gains	$ 101	$ 0
Gross realized losses		(89)
Available-for-sale Securities, Gross Realized Gain (Loss), Total	$ 101	$ (89)

Investment securities availab_5

Investment securities available for sale - Summary of Investment securities available for sale having fair value and unrealized loss position (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Securities in a loss position for less than 12 Months, Fair Value	$ 5,507	$ 1,915
Securities in a loss position for less than 12 Months, Unrealized Losses	(33)	(140)
Securities in a loss position for more than 12 Months, Fair Value	6,308	32,760
Securities in a loss Position for more than 12 Months, Unrealized Losses	(82)	(853)
Total Fair Value	11,815	34,675
Total Unrealized Losses	(115)	(993)
U.S. Government Agencies Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities in a loss position for less than 12 Months, Fair Value	2,001	0
Securities in a loss position for less than 12 Months, Unrealized Losses	(1)	0
Securities in a loss position for more than 12 Months, Fair Value	5,368	13,851
Securities in a loss Position for more than 12 Months, Unrealized Losses	(8)	(269)
Total Fair Value	7,369	13,851
Total Unrealized Losses	(9)	(269)
Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities in a loss position for less than 12 Months, Fair Value	2,747	0
Securities in a loss position for less than 12 Months, Unrealized Losses	(26)	0
Securities in a loss position for more than 12 Months, Fair Value	0	18,397
Securities in a loss Position for more than 12 Months, Unrealized Losses	0	(576)
Total Fair Value	2,747	18,397
Total Unrealized Losses	(26)	(576)
Subordinated Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities in a loss position for less than 12 Months, Fair Value	759	1,915
Securities in a loss position for less than 12 Months, Unrealized Losses	(6)	(140)
Securities in a loss position for more than 12 Months, Fair Value	940	512
Securities in a loss Position for more than 12 Months, Unrealized Losses	(74)	(8)
Total Fair Value	1,699	2,427
Total Unrealized Losses	$ (80)	$ (148)

Investment securities availab_6

Investment securities available for sale - Summary of amortized cost and estimated fair value of investment securities available for sale (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized Cost
Less than one year	$ 4,121
One to five years	8,670
Five to ten years	11,697
More than ten years	22,212
Total	46,700
Fair Value
Less than one year	4,117
One to five years	8,695
Five to ten years	11,728
More than ten years	22,397
Total	$ 46,937	$ 44,253

Investment securities availab_7

Investment securities available for sale - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)
Schedule of Available-for-sale Securities [Line Items]
Proceeds from Sale of Available-for-sale Securities, Debt	$ 6,491,000	$ 9,109,000
Available-for-sale Securities, Gross Realized Gain (Loss)	101,000	(89,000)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	6,308,000	32,760,000
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 82,000	853,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | item	10
Available-for-sale Securities, Gross Unrealized Loss	$ 82,000
Investment Pledged As Security For Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Federal Home Loan Bank		$ 8,004,000

Loans - classified by type (Det

Loans - classified by type (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 429,295	$ 414,430
Deferred fees and costs, net	764	713
Less: allowance for loan losses	(3,186)	(3,051)	$ (3,239)
Total loans, net	$ 426,873	$ 412,092
Percentage of class of loans to loan portfolio (in percent)	100.00%	100.00%
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 228,349	$ 206,969
Percentage of class of loans to loan portfolio (in percent)	53.19%	49.93%
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 228,349	$ 206,969
Less: allowance for loan losses	(1,589)	(1,435)	(1,187)
Home equity lines [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	21,509	20,675
Less: allowance for loan losses	(271)	(244)	(268)
Home equity lines [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 21,509	$ 20,675
Percentage of class of loans to loan portfolio (in percent)	5.01%	4.99%
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 24,063	$ 33,904
Less: allowance for loan losses	(137)	(220)	(165)
Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	7,887	7,704
Less: allowance for loan losses	(48)	(42)	(32)
Construction And Land Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	31,950	41,608
Less: allowance for loan losses	$ (185)	$ (262)	(197)
Percentage of class of loans to loan portfolio (in percent)	7.44%	10.04%
Construction And Land Development [Member] | Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 24,063	$ 33,904
Percentage of class of loans to loan portfolio (in percent)	5.60%	8.18%
Construction And Land Development [Member] | Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 7,887	$ 7,704
Percentage of class of loans to loan portfolio (in percent)	1.84%	1.86%
Owner Occupied [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 98,353	$ 98,153
Less: allowance for loan losses	(671)	(673)	(624)
Owner Occupied [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 98,353	$ 98,153
Percentage of class of loans to loan portfolio (in percent)	22.91%	23.68%
Non-Owner Occupied [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 116,508	$ 95,034
Less: allowance for loan losses	(831)	(673)	(500)
Non-Owner Occupied [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 116,508	$ 95,034
Percentage of class of loans to loan portfolio (in percent)	27.14%	22.93%
Multifamily [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 13,332	$ 13,597
Less: allowance for loan losses	(85)	(87)	(60)
Multifamily [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 13,332	$ 13,597
Percentage of class of loans to loan portfolio (in percent)	3.10%	3.28%
Farmland [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 156	$ 185
Less: allowance for loan losses	(2)	(2)	(3)
Farmland [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 156	$ 185
Percentage of class of loans to loan portfolio (in percent)	0.04%	0.04%
First Deed of Trust [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 55,856	$ 57,410
Less: allowance for loan losses	(343)	(385)	(502)
First Deed of Trust [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 55,856	$ 57,410
Percentage of class of loans to loan portfolio (in percent)	13.01%	13.85%
Second Deed of Trust [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 10,411	$ 9,556
Less: allowance for loan losses	(64)	(51)	(47)
Commercial and industrial loans (except those secured by real estate)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	45,074	36,639
Less: allowance for loan losses	$ (572)	$ (308)	(556)
Percentage of class of loans to loan portfolio (in percent)	10.50%	8.84%
Guaranteed student loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 33,525	$ 39,315
Less: allowance for loan losses	$ (108)	$ (121)	(108)
Percentage of class of loans to loan portfolio (in percent)	7.81%	9.49%
Consumer And Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 2,621	$ 2,258
Less: allowance for loan losses	$ (30)	$ (34)	(27)
Percentage of class of loans to loan portfolio (in percent)	0.61%	0.55%
Second Deed Trust [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 10,411	$ 9,556
Percentage of class of loans to loan portfolio (in percent)	2.43%	2.31%
Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 7,887	$ 7,704
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	24,063	33,904
Consumer Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	87,776	87,641
Less: allowance for loan losses	$ (678)	$ (680)	$ (817)
Percentage of class of loans to loan portfolio (in percent)	20.45%	21.15%

Loans - (Details)

Loans - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loans
Beginning balance	$ 5,201	$ 8,957
Additions	8,751	8,039
Effect of changes in composition of related parties	0	(4,140)
Reductions	(8,629)	(7,655)
Ending balance	$ 5,323	$ 5,201

Loans - Information on nonaccru

Loans - Information on nonaccrual loans (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 1,868	$ 2,259
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	497	515
Commercial Real Estate [Member] | Home equity lines [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	300	125
Construction And Land Development [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status		39
Construction And Land Development [Member] | Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status		39
Commercial Real Estate Non-Owner Occupied [Member] | Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	497	515
Consumer Real Estate Secured By 1-4 Family Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	1,205	1,442
First Deed of Trust [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	842	1,163
Second Deed of Trust [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	63	154
Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 166	255
Consumer And Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status		$ 8

Loans - Information on the risk

Loans - Information on the risk rating of loans (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 429,295	$ 414,430
Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,887	7,704
Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	31,950	41,608
Construction And Land Development [Member] | Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,887	7,704
Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,887	7,704
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	24,063	33,904
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	228,349	206,969
Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	98,353	98,153
Non-Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	116,508	95,034
Multifamily [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	13,332	13,597
Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	156	185
Consumer Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	87,776	87,641
Home equity lines [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	21,509	20,675
First Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	55,856	57,410
Second Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	10,411	9,556
Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Recorded Investment [Line Items]
Total loans	45,074	36,639
Guaranteed student loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	33,525	39,315
Consumer And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,621	2,258
Risk Rated 1-4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	412,628	394,001
Risk Rated 1-4 [Member] | Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	31,645	40,389
Risk Rated 1-4 [Member] | Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,887	6,957
Risk Rated 1-4 [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	23,758	33,432
Risk Rated 1-4 [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	219,184	196,520
Risk Rated 1-4 [Member] | Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	90,146	88,484
Risk Rated 1-4 [Member] | Non-Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	115,781	94,519
Risk Rated 1-4 [Member] | Multifamily [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	13,186	13,436
Risk Rated 1-4 [Member] | Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	71	81
Risk Rated 1-4 [Member] | Consumer Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	83,816	82,762
Risk Rated 1-4 [Member] | Home equity lines [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	20,486	19,601
Risk Rated 1-4 [Member] | First Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	53,200	53,994
Risk Rated 1-4 [Member] | Second Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	10,130	9,167
Risk Rated 1-4 [Member] | Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Recorded Investment [Line Items]
Total loans	41,837	32,776
Risk Rated 1-4 [Member] | Guaranteed student loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	33,525	39,315
Risk Rated 1-4 [Member] | Consumer And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,621	2,239
Risk Rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	13,974	12,889
Risk Rated 5 [Member] | Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	6
Risk Rated 5 [Member] | Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 5 [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	6
Risk Rated 5 [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	8,533	6,805
Risk Rated 5 [Member] | Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	8,072	6,540
Risk Rated 5 [Member] | Non-Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	230	0
Risk Rated 5 [Member] | Multifamily [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	146	161
Risk Rated 5 [Member] | Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	85	104
Risk Rated 5 [Member] | Consumer Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,550	2,721
Risk Rated 5 [Member] | Home equity lines [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	723	934
Risk Rated 5 [Member] | First Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,660	1,612
Risk Rated 5 [Member] | Second Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	167	175
Risk Rated 5 [Member] | Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,891	3,349
Risk Rated 5 [Member] | Guaranteed student loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 5 [Member] | Consumer And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	8
Risk Rate 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,693	7,525
Risk Rate 6 [Member] | Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	305	1,213
Risk Rate 6 [Member] | Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	747
Risk Rate 6 [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	305	466
Risk Rate 6 [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	632	3,644
Risk Rate 6 [Member] | Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	135	3,129
Risk Rate 6 [Member] | Non-Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	497	515
Risk Rate 6 [Member] | Multifamily [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rate 6 [Member] | Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rate 6 [Member] | Consumer Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,410	2,158
Risk Rate 6 [Member] | Home equity lines [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	300	140
Risk Rate 6 [Member] | First Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	996	1,804
Risk Rate 6 [Member] | Second Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	114	214
Risk Rate 6 [Member] | Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Recorded Investment [Line Items]
Total loans	346	499
Risk Rate 6 [Member] | Guaranteed student loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rate 6 [Member] | Consumer And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	11
Risk Rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	15
Risk Rated 7 [Member] | Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Non-Owner Occupied [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Multifamily [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Consumer Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Home equity lines [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | First Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Second Deed of Trust [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	15
Risk Rated 7 [Member] | Guaranteed student loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Risk Rated 7 [Member] | Consumer And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 0	$ 0

Loans - Impaired loans (Details

Loans - Impaired loans (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
With no related allowance recorded
Recorded Investment	$ 7,745	$ 12,388
Unpaid Principal Balance	8,152	13,041
With an allowance recorded
Recorded Investment	1,627	1,943
Unpaid Principal Balance	1,826	1,943
Total
Recorded Investment	9,372	14,331
Unpaid Principal Balance	9,978	14,984
Related Allowance	159	74
Commercial [Member]
With no related allowance recorded
Recorded Investment	337	360
Unpaid Principal Balance	337	458
With an allowance recorded
Recorded Investment	0	106
Unpaid Principal Balance	0	106
Total
Recorded Investment	337	466
Unpaid Principal Balance	337	564
Related Allowance	0	8
Construction And Land Development [Member]
With no related allowance recorded
Recorded Investment	337	1,107
Unpaid Principal Balance	337	1,205
With an allowance recorded
Recorded Investment	0	106
Unpaid Principal Balance	0	106
Total
Recorded Investment	337	1,213
Unpaid Principal Balance	337	1,311
Related Allowance	0	8
Residential [Member]
With no related allowance recorded
Recorded Investment		747
Unpaid Principal Balance	0	747
Total
Recorded Investment	0	747
Unpaid Principal Balance	0	747
Related Allowance	0	0
Owner Occupied [Member]
With no related allowance recorded
Recorded Investment	2,089	3,703
Unpaid Principal Balance	2,104	3,703
With an allowance recorded
Recorded Investment	1,414	1,459
Unpaid Principal Balance	1,414	1,459
Total
Recorded Investment	3,503	5,162
Unpaid Principal Balance	3,518	5,162
Related Allowance	15	25
Non-Owner Occupied [Member]
With no related allowance recorded
Recorded Investment	2,304	2,588
Unpaid Principal Balance	2,304	2,588
Total
Recorded Investment	2,304	2,588
Unpaid Principal Balance	2,304	2,588
Related Allowance	0	0
Commercial Real Estate [Member]
With no related allowance recorded
Recorded Investment	4,393	6,291
Unpaid Principal Balance	4,408	6,291
With an allowance recorded
Recorded Investment	1,414	1,459
Unpaid Principal Balance	1,414	1,459
Total
Recorded Investment	5,807	7,750
Unpaid Principal Balance	5,822	7,750
Related Allowance	15	25
Home equity lines [Member]
With no related allowance recorded
Recorded Investment	300	684
Unpaid Principal Balance	300	684
Total
Recorded Investment	300	684
Unpaid Principal Balance	300	684
Related Allowance	0	0
First Deed of Trust [Member]
With no related allowance recorded
Recorded Investment	1,752	3,057
Unpaid Principal Balance	1,774	3,057
With an allowance recorded
Recorded Investment	78	200
Unpaid Principal Balance	78	200
Total
Recorded Investment	1,830	3,257
Unpaid Principal Balance	1,852	3,257
Related Allowance	9	20
Second Deed of Trust [Member]
With no related allowance recorded
Recorded Investment	752	721
Unpaid Principal Balance	960	929
With an allowance recorded
Recorded Investment		161
Unpaid Principal Balance	0	161
Total
Recorded Investment	752	882
Unpaid Principal Balance	960	1,090
Related Allowance		4
Consumer Real Estate [Member]
With no related allowance recorded
Recorded Investment	2,804	4,462
Unpaid Principal Balance	3,034	4,670
With an allowance recorded
Recorded Investment	78	361
Unpaid Principal Balance	78	361
Total
Recorded Investment	2,882	4,823
Unpaid Principal Balance	3,112	5,031
Related Allowance	9	24
Commercial and industrial loans (except those secured by real estate)
With no related allowance recorded
Recorded Investment	211	528
Unpaid Principal Balance	373	875
With an allowance recorded
Recorded Investment	135	8
Unpaid Principal Balance	334	8
Total
Recorded Investment	346	536
Unpaid Principal Balance	707	883
Related Allowance	135	8
Consumer And Other [Member]
With an allowance recorded
Recorded Investment		9
Unpaid Principal Balance	0	9
Total
Recorded Investment		9
Unpaid Principal Balance	$ 0	9
Related Allowance		$ 9

Loans - Recorded investment in

Loans - Recorded investment in past due loans and leases (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 7,523	$ 10,018
Current	421,772	404,412
Total loans	429,295	414,430
Recorded Investment, 90 Days and Accruing	2,567	5,573
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	3,647	2,718
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,309	1,727
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	2,567	5,573
Construction And Land Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	118
Current	31,950	41,490
Total loans	31,950	41,608
Recorded Investment, 90 Days and Accruing	0	0
Construction And Land Development [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	118
Construction And Land Development [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Construction And Land Development [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Current	7,887	7,704
Total loans	7,887	7,704
Recorded Investment, 90 Days and Accruing	0	0
Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	118
Current	24,063	33,786
Total loans	24,063	33,904
Recorded Investment, 90 Days and Accruing	0	0
Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	118
Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	701	0
Current	227,648	206,969
Total loans	228,349	206,969
Recorded Investment, 90 Days and Accruing	0	0
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	701	0
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	701	0
Current	97,652	98,153
Total loans	98,353	98,153
Recorded Investment, 90 Days and Accruing	0	0
Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	701	0
Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Non-Owner Occupied [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Current	116,508	95,034
Total loans	116,508	95,034
Recorded Investment, 90 Days and Accruing	0	0
Non-Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Non-Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Non-Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Multifamily [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Current	13,332	13,597
Total loans	13,332	13,597
Recorded Investment, 90 Days and Accruing	0	0
Multifamily [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Multifamily [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Multifamily [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Farmland [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Current	156	185
Total loans	156	185
Recorded Investment, 90 Days and Accruing	0	0
Farmland [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Farmland [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Consumer Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	475	655
Current	87,301	86,986
Total loans	87,776	87,641
Recorded Investment, 90 Days and Accruing	0	0
Consumer Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	475	333
Consumer Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	322
Consumer Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Home equity lines [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	52	315
Current	21,457	20,360
Total loans	21,509	20,675
Recorded Investment, 90 Days and Accruing	0	0
Home equity lines [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	52	0
Home equity lines [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	315
Home equity lines [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
First Deed of Trust [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	290	178
Current	55,566	57,232
Total loans	55,856	57,410
Recorded Investment, 90 Days and Accruing	0	0
First Deed of Trust [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	290	171
First Deed of Trust [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	7
First Deed of Trust [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Second Deed of Trust [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	133	162
Current	10,278	9,394
Total loans	10,411	9,556
Recorded Investment, 90 Days and Accruing	0	0
Second Deed of Trust [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	133	162
Second Deed of Trust [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Second Deed of Trust [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	773	745
Current	44,301	35,894
Total loans	45,074	36,639
Recorded Investment, 90 Days and Accruing	0	0
Commercial and industrial loans (except those secured by real estate) | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	773	312
Commercial and industrial loans (except those secured by real estate) | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	433
Commercial and industrial loans (except those secured by real estate) | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Guaranteed student loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	5,570	8,490
Current	27,955	30,825
Total loans	33,525	39,315
Recorded Investment, 90 Days and Accruing	2,567	5,573
Guaranteed student loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,694	1,946
Guaranteed student loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	1,309	971
Guaranteed student loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	2,567	5,573
Consumer And Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	4	10
Current	2,617	2,248
Total loans	2,621	2,258
Recorded Investment, 90 Days and Accruing	0	0
Consumer And Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	4	9
Consumer And Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	1
Consumer And Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 0	$ 0

Loans - Average recorded invest

Loans - Average recorded investment in impaired loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
With no related allowance recorded
Average Recorded Investment	$ 9,573	$ 11,776
Interest Income Recognized	423	466
With an allowance recorded
Average Recorded Investment	1,829	2,431
Interest Income Recognized	50	93
Total
Average Recorded Investment	11,402	14,207
Interest Income Recognized	473	559
Construction And Land Development [Member]
With no related allowance recorded
Average Recorded Investment	410	697
Interest Income Recognized	0	14
With an allowance recorded
Average Recorded Investment	0	26
Interest Income Recognized	0	0
Total
Average Recorded Investment	410	723
Interest Income Recognized	0	14
Commercial [Member]
With no related allowance recorded
Average Recorded Investment	329	510
Interest Income Recognized	0	14
With an allowance recorded
Average Recorded Investment	0	26
Interest Income Recognized	0	0
Total
Average Recorded Investment	329	536
Interest Income Recognized	0	14
Residential [Member]
With no related allowance recorded
Average Recorded Investment	81	187
Interest Income Recognized	0	0
Total
Average Recorded Investment	81	187
Interest Income Recognized	0	0
Commercial Real Estate [Member]
With no related allowance recorded
Average Recorded Investment	5,129	6,388
Interest Income Recognized	271	269
With an allowance recorded
Average Recorded Investment	1,432	1,469
Interest Income Recognized	43	61
Total
Average Recorded Investment	6,561	7,857
Interest Income Recognized	314	330
Owner Occupied [Member]
With no related allowance recorded
Average Recorded Investment	2,695	3,770
Interest Income Recognized	143	148
With an allowance recorded
Average Recorded Investment	1,432	1,469
Interest Income Recognized	43	61
Total
Average Recorded Investment	4,127	5,239
Interest Income Recognized	186	209
Non-Owner Occupied [Member]
With no related allowance recorded
Average Recorded Investment	2,434	2,618
Interest Income Recognized	128	121
Total
Average Recorded Investment	2,434	2,618
Interest Income Recognized	128	121
Home equity lines [Member]
With no related allowance recorded
Average Recorded Investment	318	524
Interest Income Recognized	19	0
With an allowance recorded
Average Recorded Investment	0	33
Interest Income Recognized	0	0
Total
Average Recorded Investment	318	557
Interest Income Recognized	19	0
First Deed of Trust [Member]
With no related allowance recorded
Average Recorded Investment	2,280	3,016
Interest Income Recognized	76	96
With an allowance recorded
Average Recorded Investment	166	365
Interest Income Recognized	6	23
Total
Average Recorded Investment	2,446	3,381
Interest Income Recognized	82	119
Second Deed of Trust [Member]
With no related allowance recorded
Average Recorded Investment	810	692
Interest Income Recognized	40	48
With an allowance recorded
Average Recorded Investment	0	164
Interest Income Recognized	0	8
Total
Average Recorded Investment	810	856
Interest Income Recognized	40	56
Consumer Real Estate [Member]
With no related allowance recorded
Average Recorded Investment	3,408	4,232
Interest Income Recognized	135	144
With an allowance recorded
Average Recorded Investment	166	562
Interest Income Recognized	6	31
Total
Average Recorded Investment	3,574	4,794
Interest Income Recognized	141	175
Commercial and industrial loans (except those secured by real estate)
With no related allowance recorded
Average Recorded Investment	626	458
Interest Income Recognized	17	38
With an allowance recorded
Average Recorded Investment	225	361
Interest Income Recognized	1	1
Total
Average Recorded Investment	851	819
Interest Income Recognized	18	39
Consumer And Other [Member]
With no related allowance recorded
Average Recorded Investment	0	1
Interest Income Recognized	0	1
With an allowance recorded
Average Recorded Investment	6	13
Interest Income Recognized	0	0
Total
Average Recorded Investment	6	14
Interest Income Recognized	$ 0	$ 1

Loans - Information about TDRs

Loans - Information about TDRs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Information About Tdrs Identified During Period Line Items [Line Items]
Number of Loans	38	42
Non-Owner Occupied [Member]
Information About Tdrs Identified During Period Line Items [Line Items]
Number of Loans	1
Pre-Modification Recorded Investment	$ 515
Post-Modification Recorded Investment	$ 515
Consumer Real Estate Secured By 1-4 Family Residential [Member] | First Deed of Trust [Member]
Information About Tdrs Identified During Period Line Items [Line Items]
Number of Loans		1
Pre-Modification Recorded Investment		$ 73
Post-Modification Recorded Investment		$ 73
Consumer Real Estate Secured By 1-4 Family Residential [Member] | Secured by 1-4 family residential [Member]
Information About Tdrs Identified During Period Line Items [Line Items]
Number of Loans	1	1
Pre-Modification Recorded Investment	$ 515	$ 73
Post-Modification Recorded Investment	$ 515	$ 73

Loans - Nonaccrual TDRs and the

Loans - Nonaccrual TDRs and the related specific valuation allowance by portfolio segment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 8,410	$ 9,531
Number of Loans	38	42
Construction And Land Development [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		$ 0
Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 3,502	4,064
Non-Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 2,304	2,072
Number of Loans	1
Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		6,136
First Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 1,641	2,284
Second Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	752	794
Commercial and industrial loans (except those secured by real estate)
Information concerning Troubled Debt Restructurings
Recorded Investment	211	317
Commercial Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	5,806
Specific Valuation Allowance [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 24	$ 49
Number of Loans	3	6
Specific Valuation Allowance [Member] | Construction And Land Development [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		$ 0
Specific Valuation Allowance [Member] | Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 15	25
Specific Valuation Allowance [Member] | Non-Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	0	0
Specific Valuation Allowance [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		25
Specific Valuation Allowance [Member] | First Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	9	20
Specific Valuation Allowance [Member] | Second Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	0	4
Specific Valuation Allowance [Member] | Commercial and industrial loans (except those secured by real estate)
Information concerning Troubled Debt Restructurings
Recorded Investment	0	0
Specific Valuation Allowance [Member] | Commercial Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	15
Consumer Real Estate Secured By 1-4 Family Residential [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	2,393	3,078
Consumer Real Estate Secured By 1-4 Family Residential [Member] | Specific Valuation Allowance [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	9	24
Performing Financing Receivable [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 7,059	$ 8,673
Number of Loans	29	33
Performing Financing Receivable [Member] | Construction And Land Development [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		$ 0
Performing Financing Receivable [Member] | Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 3,502	4,064
Performing Financing Receivable [Member] | Non-Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	1,807	2,072
Performing Financing Receivable [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		6,136
Performing Financing Receivable [Member] | First Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	881	1,525
Performing Financing Receivable [Member] | Second Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	689	729
Performing Financing Receivable [Member] | Commercial and industrial loans (except those secured by real estate)
Information concerning Troubled Debt Restructurings
Recorded Investment	180	282
Performing Financing Receivable [Member] | Commercial Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	5,309
Performing Financing Receivable [Member] | Consumer Real Estate Secured By 1-4 Family Residential [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	1,570	2,254
Nonperforming Financial Instruments [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 1,351	$ 859
Number of Loans	9	9
Nonperforming Financial Instruments [Member] | Construction And Land Development [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		$ 0
Nonperforming Financial Instruments [Member] | Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 0	0
Nonperforming Financial Instruments [Member] | Non-Owner Occupied [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	497	0
Nonperforming Financial Instruments [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment		0
Nonperforming Financial Instruments [Member] | First Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	760	759
Nonperforming Financial Instruments [Member] | Second Deed of Trust [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	63	65
Nonperforming Financial Instruments [Member] | Commercial and industrial loans (except those secured by real estate)
Information concerning Troubled Debt Restructurings
Recorded Investment	31	35
Nonperforming Financial Instruments [Member] | Commercial Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	497
Nonperforming Financial Instruments [Member] | Consumer Real Estate Secured By 1-4 Family Residential [Member] | Consumer Real Estate [Member]
Information concerning Troubled Debt Restructurings
Recorded Investment	$ 823	$ 824

Loans - Additional Information

Loans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Pledged as Collateral	$ 49,736,000	$ 38,751,000
Loans and Leases Receivable, Allowance	$ 3,186,000	3,051,000	$ 3,239,000
Percentage Of Recovery Loss On Portfolio From Historical Experience	98.00%
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 1,868,000	2,259,000
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	2,806,000	4,168,000
Financing Receivable, Allowance for Credit Losses	135,000	17,000
Impaired Financing Receivable, Interest Income, Cash Basis Method	136,000	240,000
Guaranteed student loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Allowance	108,000	121,000
Unallocated Financing Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Allowance	$ 24,000	$ 211,000

Allowance for loan losses (Deta

Allowance for loan losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	$ 3,051	$ 3,239
Provision for (Recovery of) Loan Losses	135	0
Charge-offs	(218)	(664)
Recoveries	218	476
Ending Balance	3,186	3,051
Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	42	32
Provision for (Recovery of) Loan Losses	(1)	9
Charge-offs	0	0
Recoveries	7	1
Ending Balance	48	42
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	220	165
Provision for (Recovery of) Loan Losses	(85)	49
Charge-offs	0	0
Recoveries	2	6
Ending Balance	137	220
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	1,435	1,187
Provision for (Recovery of) Loan Losses	154	30
Charge-offs	0	0
Recoveries	0	218
Ending Balance	1,589	1,435
Home equity lines [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	244	268
Provision for (Recovery of) Loan Losses	50	39
Charge-offs	(35)	(64)
Recoveries	12	1
Ending Balance	271	244
Construction And Land Development [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	262	197
Provision for (Recovery of) Loan Losses	(86)	58
Charge-offs	0	0
Recoveries	9	7
Ending Balance	185	262
Owner Occupied [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	673	624
Provision for (Recovery of) Loan Losses	(2)	49
Charge-offs	0	0
Recoveries	0	0
Ending Balance	671	673
Non-Owner Occupied [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	673	500
Provision for (Recovery of) Loan Losses	158	(45)
Charge-offs	0	0
Recoveries	0	218
Ending Balance	831	673
Multifamily [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	87	60
Provision for (Recovery of) Loan Losses	(2)	27
Charge-offs	0	0
Recoveries	0	0
Ending Balance	85	87
Farmland [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	2	3
Provision for (Recovery of) Loan Losses	0	(1)
Charge-offs	0	0
Recoveries	0	0
Ending Balance	2	2
First Deed of Trust [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	385	502
Provision for (Recovery of) Loan Losses	(56)	(97)
Charge-offs	0	(41)
Recoveries	14	21
Ending Balance	343	385
Second Deed of Trust [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	51	47
Provision for (Recovery of) Loan Losses	(56)	6
Charge-offs	0	(45)
Recoveries	69	43
Ending Balance	64	51
Consumer Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	680	817
Provision for (Recovery of) Loan Losses	(62)	(52)
Charge-offs	(35)	(150)
Recoveries	95	65
Ending Balance	678	680
Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	308	556
Provision for (Recovery of) Loan Losses	239	(50)
Charge-offs	(64)	(375)
Recoveries	89	177
Ending Balance	572	308
Guaranteed student loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	121	108
Provision for (Recovery of) Loan Losses	80	118
Charge-offs	(93)	(105)
Recoveries	0	0
Ending Balance	108	121
Consumer And Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	34	27
Provision for (Recovery of) Loan Losses	(3)	32
Charge-offs	(26)	(34)
Recoveries	25	9
Ending Balance	30	34
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	211	347
Provision for (Recovery of) Loan Losses	(187)	(136)
Charge-offs	0	0
Recoveries	0	0
Ending Balance	$ 24	$ 211

Allowance for loan losses - Loa

Allowance for loan losses - Loans evaluated for impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	$ 3,186	$ 3,051	$ 3,239
Allowance Individually Evaluated for Impairment	159	74
Allowance Collectively Evaluated for Impairment	3,027	2,977
Loans Ending Balance	429,295	414,430
Loans Individually Evaluated for Impairment	9,372	14,331
Loans Collectively Evaluated for Impairment	419,923	400,099
Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	48	42	32
Allowance Individually Evaluated for Impairment	0	0
Allowance Collectively Evaluated for Impairment	48	42
Loans Ending Balance	7,887	7,704
Loans Individually Evaluated for Impairment	0	747
Loans Collectively Evaluated for Impairment	7,887	6,957
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	137	220	165
Allowance Individually Evaluated for Impairment	0	8
Allowance Collectively Evaluated for Impairment	137	212
Loans Ending Balance	24,063	33,904
Loans Individually Evaluated for Impairment	337	466
Loans Collectively Evaluated for Impairment	23,726	33,438
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	1,589	1,435	1,187
Allowance Individually Evaluated for Impairment	15	25
Allowance Collectively Evaluated for Impairment	1,574	1,410
Loans Ending Balance	228,349	206,969
Loans Individually Evaluated for Impairment	5,807	7,750
Loans Collectively Evaluated for Impairment	222,542	199,219
Home equity lines [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	271	244	$ 268
Allowance Individually Evaluated for Impairment	0	0
Allowance Collectively Evaluated for Impairment	271	244
Loans Ending Balance	21,509	20,675
Loans Individually Evaluated for Impairment	300	684
Loans Collectively Evaluated for Impairment	21,209	19,991
Owner Occupied [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	671	673
Allowance Individually Evaluated for Impairment	15	25
Allowance Collectively Evaluated for Impairment	656	648
Loans Ending Balance	98,353	98,153
Loans Individually Evaluated for Impairment	3,503	5,162
Loans Collectively Evaluated for Impairment	94,850	92,991
Non-Owner Occupied [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	831	673
Allowance Individually Evaluated for Impairment	0	0
Allowance Collectively Evaluated for Impairment	831	673
Loans Ending Balance	116,508	95,034
Loans Individually Evaluated for Impairment	2,304	2,588
Loans Collectively Evaluated for Impairment	114,204	92,446
Multifamily [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	85	87
Allowance Individually Evaluated for Impairment	0	0
Allowance Collectively Evaluated for Impairment	85	87
Loans Ending Balance	13,332	13,597
Loans Individually Evaluated for Impairment	0	0
Loans Collectively Evaluated for Impairment	13,332	13,597
Farmland [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	2	2
Allowance Individually Evaluated for Impairment	0	0
Allowance Collectively Evaluated for Impairment	2	2
Loans Ending Balance	156	185
Loans Individually Evaluated for Impairment	0	0
Loans Collectively Evaluated for Impairment	156	185
First Deed of Trust [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	343	385
Allowance Individually Evaluated for Impairment	9	20
Allowance Collectively Evaluated for Impairment	334	365
Loans Ending Balance	55,856	57,410
Loans Individually Evaluated for Impairment	1,830	3,257
Loans Collectively Evaluated for Impairment	54,026	54,153
Second Deed of Trust [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	64	51
Allowance Individually Evaluated for Impairment		4
Allowance Collectively Evaluated for Impairment	64	47
Loans Ending Balance	10,411	9,556
Loans Individually Evaluated for Impairment	752	882
Loans Collectively Evaluated for Impairment	9,659	8,674
Consumer Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	678	680
Allowance Individually Evaluated for Impairment	9	24
Allowance Collectively Evaluated for Impairment	669	656
Loans Ending Balance	87,776	87,641
Loans Individually Evaluated for Impairment	2,882	4,823
Loans Collectively Evaluated for Impairment	84,894	82,818
Commercial and industrial loans (except those secured by real estate)
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	572	308
Allowance Individually Evaluated for Impairment	135	8
Allowance Collectively Evaluated for Impairment	437	300
Loans Ending Balance	45,074	36,639
Loans Individually Evaluated for Impairment	346	536
Loans Collectively Evaluated for Impairment	44,728	36,103
Guaranteed student loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	108	121
Allowance Individually Evaluated for Impairment	0	0
Allowance Collectively Evaluated for Impairment	108	121
Loans Ending Balance	33,525	39,315
Loans Individually Evaluated for Impairment	0	0
Loans Collectively Evaluated for Impairment	33,525	39,315
Consumer And Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	54	245
Allowance Individually Evaluated for Impairment		9
Allowance Collectively Evaluated for Impairment	54	236
Loans Ending Balance	2,621	2,258
Loans Individually Evaluated for Impairment		9
Loans Collectively Evaluated for Impairment	2,621	2,249
Construction And Land Development [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance Ending Balance	185	262
Allowance Individually Evaluated for Impairment		8
Allowance Collectively Evaluated for Impairment	185	254
Loans Ending Balance	31,950	41,608
Loans Individually Evaluated for Impairment	337	1,213
Loans Collectively Evaluated for Impairment	$ 31,613	$ 40,395

Allowance for Loan Losses - Add

Allowance for Loan Losses - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Provision for loan losses	$ 135,000	$ 0
Loans and Leases Receivable, Allowance	3,186,000	3,051,000	$ 3,239,000
Unallocated Financing Receivable [Member]
Loans and Leases Receivable, Allowance	$ 24,000	$ 211,000

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 22,432	$ 22,208
Less: Accumulated depreciation and amortization	(10,396)	(9,753)
Premises and equipment, net	12,036	12,455
Land [Member]
Property, Plant and Equipment [Line Items]
Total premises and equipment	4,352	4,352
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total premises and equipment	10,601	10,479
Furniture Fixtures And Equipments [Member]
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 7,479	$ 7,377

Premises and Equipment - Additi

Premises and Equipment - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net [Abstract]
Depreciation, Depletion and Amortization	$ 644,000	$ 724,000

Investment in Bank Owned Life_2

Investment in Bank Owned Life Insurance - (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Investment in Bank Owned Life Insurance
Bank owned life insurance, face amount	$ 13,707,000
Cash surrender value	$ 7,612,000	$ 7,441,000

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deposits
Noninterest bearing demand	$ 131,228	$ 119,317
Interest bearing	48,428	49,188
Money market accounts	99,955	86,295
Savings accounts	26,396	28,694
Other time deposits	114,874	131,393
Total	$ 443,208	$ 439,047
Percentage of individual deposits to deposit liability
Noninterest bearing demand (in hundredths)	29.60%	27.20%
Interest bearing (in hundredths)	10.90%	11.20%
Money market accounts (in hundredths)	22.60%	19.70%
Savings account (in hundredths)	6.00%	6.50%
Time deposits of $250,000 and over (in hundredths)	5.00%	5.50%
Other time deposits (in hundredths)	25.90%	29.90%
Total (in hundredths)	100.00%	100.00%
Geographic Distribution, Domestic [Member]
Deposits
Time deposits of $250,000 and over	$ 22,327	$ 24,160

Deposits - Maturities of time d

Deposits - Maturities of time deposits (Details) $ in Thousands	Dec. 31, 2019USD ($)
Time deposit [Line Items]
2020	$ 81,963
2021	34,404
2022	14,433
2023	5,116
2024	1,285
Time Deposits	137,201
Less Than 250,000 [Member]
Time deposit [Line Items]
2020	64,875
2021	32,447
2022	11,406
2023	4,861
2024	1,285
Time Deposits	114,874
Greater than or Equal to 250,000 [Member]
Time deposit [Line Items]
2020	17,088
2021	1,957
2022	3,027
2023	255
2024	0
Time Deposits	$ 22,327

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Time Deposits, Fiscal Year Maturity [Abstract]
Related Party Deposit Liabilities Percentage	5.00%
Related Party Deposit Liabilities	$ 15,067,000	$ 10,801,000

Borrowings - Advances from the

Borrowings - Advances from the FHLB (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances [Line Items]
Advances from Federal Home Loan Banks	$ 29,000	$ 21,000
Federal Home Loan Bank, Advances One [Member]
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Variable
Federal Home Loan Bank, Advances, Date	Jun. 29, 2020
Federal Home Loan Bank, Advances, Interest Rate	1.78%
Advances from Federal Home Loan Banks	$ 8,000
Federal Home Loan Bank, Advances Two [Member]
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Fixed Rate	Fixed Rate
Federal Home Loan Bank, Advances, Date	Jun. 28, 2021	Jun. 28, 2021
Federal Home Loan Bank, Advances, Interest Rate	2.854%	2.854%
Advances from Federal Home Loan Banks	$ 3,000	$ 3,000
Federal Home Loan Bank, Advances Three [Member]
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Fixed Rate	Fixed Rate
Federal Home Loan Bank, Advances, Date	Jul. 6, 2020	Jul. 6, 2020
Federal Home Loan Bank, Advances, Interest Rate	2.77%	2.77%
Advances from Federal Home Loan Banks	$ 5,000	$ 5,000
Federal Home Loan Bank Advances Four [Member]
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Fixed Rate	Fixed Rate
Federal Home Loan Bank, Advances, Date	Sep. 27, 2021	Sep. 27, 2021
Federal Home Loan Bank, Advances, Interest Rate	3.102%	3.102%
Advances from Federal Home Loan Banks	$ 2,000	$ 2,000
Federal Home Loan Bank Advances Five [Member]
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Fixed Rate	Fixed Rate
Federal Home Loan Bank, Advances, Date	Sep. 25, 2023	Sep. 25, 2023
Federal Home Loan Bank, Advances, Interest Rate	3.212%	2.212%
Advances from Federal Home Loan Banks	$ 2,000	$ 2,000
Federal Home Loan Bank Advances Six [Member]
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Fixed Rate	Fixed Rate
Federal Home Loan Bank, Advances, Date	Nov. 15, 2021	Nov. 15, 2021
Federal Home Loan Bank, Advances, Interest Rate	3.149%	3.149%
Advances from Federal Home Loan Banks	$ 6,500	$ 6,500
Federal Home Loan Bank Advances Seven Member
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank, Advances, Interest Rate, Type	Fixed Rate	Fixed Rate
Federal Home Loan Bank, Advances, Date	Dec. 11, 2023	Dec. 11, 2023
Federal Home Loan Bank, Advances, Interest Rate	3.289%	3.289%
Advances from Federal Home Loan Banks	$ 2,500	$ 2,500

Borrowings (Details)

Borrowings (Details) - Federal Home Loan Bank Advances [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Maximum outstanding during the year FHLB advances	$ 31,000	$ 25,500
Balance outstanding at end of year FHLB advances	29,000	21,000
Average amount outstanding during the year FHLB advances	$ 22,693	$ 18,470
Average interest rate during the year FHLB advances	3.05%	2.26%
Average interest rate at end of year FHLB advances	2.69%	3.03%

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 44,800,000
Federal Home Loan Bank Stock	1,694,000	$ 1,320,000
Long-term Federal Home Loan Bank Advances	$ 29,000,000	21,000,000
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date	2023
Securities Sold under Agreements to Repurchase	$ 5,317,000	$ 0
Federal Home Loan Bank Advances [Member]
Federal Home Loan Bank, Advances [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	7,300,000
Revolving Credit Facility [Member]
Federal Home Loan Bank, Advances [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	4,700,000
Secured Debt [Member]
Federal Home Loan Bank, Advances [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	7,800,000
Line of Credit [Member]
Federal Home Loan Bank, Advances [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 25,000,000

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Net operating loss carryforward	$ 2,995	$ 4,181
Capital loss carryforward	25	44
State net operating loss carryforward	97	114
AMT credit	11	22
Allowance for loan losses	669	641
Unrealized loss on available-for-sale securities		185
Interest on nonaccrual loans	29	50
Expenses and writedowns related to foreclosed property	97	94
Stock compensation	10	58
Employee benefits	792	721
Pension expense	8	12
Depreciation	134	136
Other, net	11	6
Total deferred tax assets	4,878	6,264
Deferred tax liabilities
Total deferred tax liabilities	50	0
Unrealized gain on available for sale securities	50
Net deferred tax asset	$ 4,828	$ 6,264

Income Taxes - Provision for in

Income Taxes - Provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Current tax expense (benefit)	$ (33)	$ 3
Deferred tax expense	1,197	690
Provision for income taxes	$ 1,164	$ 693

Income Taxes - Effective income

Income Taxes - Effective income tax rate reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Net income before income taxes	$ 5,641	$ 3,730
Computed "expected" tax expense	1,185	783
State taxes, net of fed	15	(33)
Cash surrender value of life insurance	(37)	(36)
Other	1	(21)
Provision for income taxes	$ 1,164	$ 693

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Operating Loss Carryforwards	$ 14,261,000
Taxes, Other	$ 385,000	$ 322,000

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Numerator
Net income - basic and diluted	$ 4,477	$ 3,037
Preferred stock dividend	0	(113)
Net income available to common shareholders	$ 4,477	$ 2,924
Denominator
Weighted average shares outstanding - basic (in shares)	1,445	1,433
Dilutive effect of common stock options (in shares)	0	0
Weighted average shares outstanding - diluted (in shares)	1,445	1,433
Earnings per share - basic (in dollars per share)	$ 3.10	$ 2.04
Earnings per share - diluted (in dollars per share)	$ 3.10	$ 2.04

Earnings per Share - Additional

Earnings per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	4,155	14,560
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	555	734

Lease Commitments (Details)

Lease Commitments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Lease Commitments
Lease liabilities	$ 1,027
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other Liabilities
Right-of-use assets	$ 1,015
Weighted average remaining lease term	4 years 3 months 15 days
Weighted average discount rate	2.98%
Lease cost
Operating lease cost	$ 427
Total lease cost	$ 427

Lease Commitments - Summary of

Lease Commitments - Summary of maturity analysis of operating lease liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Lease payments due
Twelve months ending December 31, 2020	$ 416
Twelve months ending December 31, 2021	277
Twelve months ending December 31, 2022	120
Twelve months ending December 31, 2023	44
Twelve months ending December 31, 2024	48
Thereafter	203
Total undiscounted cash flows	1,108
Discount	81
Lease liabilities	$ 1,027

Lease Commitments - Additional

Lease Commitments - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Lease Commitments
Operating Lease, Expense	$ 427,000	$ 396,000
Operating Lease, Payments	$ 415,000

Commitments and contingencies -

Commitments and contingencies - off balance sheet financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments to extend credit	$ 105,820	$ 82,794
Standby letters of Credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments to extend credit	6,732	3,999
Undisbursed credit lines
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments to extend credit	83,366	66,057
Commitments to extend or originate credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments to extend credit	$ 15,722	$ 12,738

Shareholders' Equity and Regu_3

Shareholders' Equity and Regulatory Matters - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Shareholders' Equity and Regulatory Matters
Net unrealized gains (losses) on securities	$ 186	$ (696)
Net unrecognized losses on defined benefit plan	(44)	(53)
Total other comprehensive income (loss)	$ 142	$ (749)

Shareholders' Equity and Regu_4

Shareholders' Equity and Regulatory Matters - Capital amounts and ratios (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Total capital (to risk- weighted assets) Village Bank, Ratio
To be Well Capitalized (in percentage)	10.00%
Tier 1 capital (to risk-capital to average assets), Ratio
To be Well Capitalized (in percentage)	8.00%
Leverage ratio (Tier 1 capital to average assets), Ratio
For Capital Adequacy Purposes (in percentage)	4.00%
To be Well Capitalized (in percentage)	5.00%
Common equity (Tier 1 risk based capital to risk weighted assets), Ratio
To be Well Capitalized (in percentage)	6.50%
Subsidiaries [Member]
Total capital (to risk- weighted assets) Village Bank, Amount
Actual Amount	$ 54,653	$ 49,926
For Capital Adequacy Purposes	34,807	24,038
To be Well Capitalized Amount	$ 43,508	$ 40,064
Total capital (to risk- weighted assets) Village Bank, Ratio
Actual Ratio (in percentage)	12.56%	12.46%
For Capital Adequacy Purposes (in percentage)	8.00%	8.00%
To be Well Capitalized (in percentage)	10.00%	10.00%
Tier 1 capital (to risk- weighted assets) Village Bank, Amount
Actual Amount	$ 52,867	$ 32,051
For Capital Adequacy Purposes	26,015	46,875
To be Well Capitalized Amount	$ 34,807	$ 32,051
Tier 1 capital (to risk-capital to average assets), Ratio
Actual Ratio (in percentage)	12.15%	11.70%
For Capital Adequacy Purposes (in percentage)	6.00%	6.00%
To be Well Capitalized (in percentage)	8.00%	8.00%
Leverage ratio (Tier 1 capital to average assets), Amount
Actual Amount	$ 52,867	$ 46,875
For Capital Adequacy Purposes	21,823	20,502
To be Well Capitalized Amount	$ 27,278	$ 25,628
Leverage ratio (Tier 1 capital to average assets), Ratio
Actual Ratio (in percentage)	9.69%	9.15%
For Capital Adequacy Purposes (in percentage)	4.00%	4.00%
To be Well Capitalized (in percentage)	5.00%	5.00%
Common equity (Tier 1 risk based capital to risk weighted assets), Amount
Actual Amount	$ 52,867	$ 46,875
For Capital Adequacy Purposes	19,579	18,029
To be Well Capitalized Amount	$ 28,280	$ 26,042
Common equity (Tier 1 risk based capital to risk weighted assets), Ratio
Actual Ratio (in percentage)	12.15%	11.70%
For Capital Adequacy Purposes (in percentage)	4.50%	4.50%
To be Well Capitalized (in percentage)	6.50%	6.50%

Shareholders' Equity and Regu_5

Shareholders' Equity and Regulatory Matters - Additional Information (Details)	Jan. 01, 2016	May 01, 2009USD ($)$ / sharesshares	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)shares	Dec. 31, 2019USD ($)
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares		499,029
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 4.43
Dividends Payable				$ 56,554
Preferred Stock, Shares Issued | shares		14,738
Preferred Stock, Par or Stated Value Per Share | $ / shares		$ 4
Preferred Stock, Liquidation Preference Per Share | $ / shares		$ 1,000
Preference Stock Issued During Period Value New Issues		$ 14,738,000
Tier One Leverage Capital Required for Capital Adequacy to Average Assets					4.00%
Stock Redeemed or Called During Period, Shares | shares				5,027
Deferred Tax Liabilities, Gross			$ 0		$ 50,000
Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets					6.50%
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets					8.00%
Capital Required to be Well Capitalized to Risk Weighted Assets					10.00%
Tier One Leverage Capital Required to be Well Capitalized to Average Assets					5.00%
Capital Conservation Buffer Percentage	0.625		2.5		2.5
Minimum [Member]
Capital to Risk Weighted Assets					8.50%
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets					4.50%
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets					6.00%
Maximum [Member]
Capital to Risk Weighted Assets					10.50%
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets					7.00%
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets					8.00%
Village Financial Statutory Trust II [Member]
Deferred Tax Liabilities, Gross			$ 199,000		$ 38,000

Stock Incentive Plans - options

Stock Incentive Plans - options outstanding under company's stock incentive plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Options
Options outstanding, beginning of period	734	2,245
Granted	0	0
Forfeited	0
Exercised		(1,511)
Options outstanding, end of period	734	734
Options exercisable, end of period	734	734
Weighted Average Exercise Price
Options outstanding, beginning of period	$ 25.63	$ 24.17
Granted	0	0
Forfeited	0
Exercised		23.46
Options outstanding, end of period	25.63	25.63
Fair Value Per Share
Options outstanding, beginning of period	9.76	12.88
Granted	0	0
Forfeited	0
Exercised		14.39
Options outstanding, end of period	$ 9.76	$ 9.76
Intrinsic Value Options outstanding	$ 0	$ 0

Stock Incentive Plans - stock o

Stock Incentive Plans - stock options outstanding (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower range (in dollars per share)	$ 25.28
Range of Exercise Prices, upper range (in dollars per share)	$ 25.76
Outstanding Number of Options (in shares) | shares	734
Outstanding Weighted Average Remaining Years of Contractual Life	3 years 7 months 2 days
Outstanding Weighted Average Exercise Price (in dollars per share)	$ 25.63
Exercisable Number of Options (in shares) | shares	734
Exercisable Weighted Average Exercise Price (in dollars per share)	$ 25.63
$25.28-$25.76 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Outstanding Number of Options (in shares) | shares	734
Outstanding Weighted Average Remaining Years of Contractual Life	3 years 7 months 2 days
Outstanding Weighted Average Exercise Price (in dollars per share)	$ 25.63
Exercisable Number of Options (in shares) | shares	734
Exercisable Weighted Average Exercise Price (in dollars per share)	$ 25.63

Stock Incentive Plans - Non ves

Stock Incentive Plans - Non vested restricted stock award (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	14,560
Shares, Forfeited		(2,007)
Ending Balance	4,155	14,560
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	23,449
Shares, Granted	12,510
Shares, Vested	(18,567)
Shares, Forfeited	(8,274)
Shares, Other	(3,192)
Ending Balance	12,310	23,449
Weighted-Average Grant-Date Fair-Value, Beginning Balance	$ 32.46
Weighted-Average Grant-Date Fair-Value, Granted	33.83
Weighted-Average Grant-Date Fair-Value, Vested	29.89
Weighted-Average Grant-Date Fair-Value, Forfeited	27.98
Weighted-Average Grant Date Fair Value, Other	33.75
Weighted-Average Grant-Date Fair-Value, Ending Balance	$ 33.83	$ 32.46
Aggregate Intrinsic Value, Beginning Balance	$ 870,192
Aggregate Intrinsic Value, Granted	464,246
Aggregate Intrinsic Value, Vested	(689,021)
Aggregate Intrinsic Value, Forfeited	(307,048)
Aggregate Intrinsic Value, Other	(118,455)
Aggregate Intrinsic Value, Ending Balance	$ 456,824	$ 870,192

Stock Incentive Plans - Additio

Stock Incentive Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 230,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 6 months
Allocated Share-based Compensation Expense	$ 413,000	$ 199,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance	4,155	14,560
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		2,007
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 364,000	$ 468,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance	12,310	23,449
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	8,274
Performance Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased Compensation Arrangement by Sharebased Payment Award Payout Ratio	150.00%	150.00%
Performance Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased Compensation Arrangement by Sharebased Payment Award Payout Ratio	0.00%	0.00%

Trust Preferred Securities (Det

Trust Preferred Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Trust preferred capital notes	$ 8,764	$ 8,764
Debt Instrument, Basis Spread on Variable Rate	2.15%
Percentage of Tier one risk based capital required for capital adequacy (in hundredths)	25.00%
Southern Community Financial Capital Trust I [Member]
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Feb. 24, 2005
Trust preferred capital notes	$ 5,200
Debt Instrument, Basis Spread on Variable Rate		2.15%
Interest rate (in hundredths)	4.06%	4.94%
Maturity date	Mar. 15, 2035
Principal assets of the trust	$ 5,200
Village Financial Statutory Trust II [Member]
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Sep. 20, 2007
Trust preferred capital notes	$ 3,600
Debt Instrument, Basis Spread on Variable Rate	1.40%
Interest rate (in hundredths)	3.31%	4.19%
Maturity date	Dec. 31, 2037
Principal assets of the trust	$ 3,600

Subordinated Debt Offering (Det

Subordinated Debt Offering (Details) - USD ($)	1 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 21, 2018	Dec. 31, 2019	Dec. 31, 2018
Proceeds from Issuance of Subordinated Long-term Debt		$ 5,539,000	$ 0	$ 5,539,000
Debt Instrument, Basis Spread on Variable Rate			2.15%
Subordinated Debt.			$ 5,595,000	$ 5,563,000
Subordinated Debt [Member]
Debt Instrument, Face Amount		$ 5,700,000
Debt Instrument, Maturity Date	Mar. 31, 2028
Debt Instrument, Interest Rate, Stated Percentage		6.50%
Debt Instrument, Basis Spread on Variable Rate	3.73%

Retirement Plans - Additional I

Retirement Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan Contributions Made by Employer and Employee	$ 351,000	$ 322,000
Bank Owned Life Insurance Income	$ 171,000	173,000
Defined Contribution Plan, Description	The Bank provided a matching contribution of 100% of the first 1% the participant contributes, and then 50% of the next 5% of their salary, totaling a maximum 3.5%. Participants are always fully vested in their own contributions, and the Bank's matching contributions vest 100% after two years of service.
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	$ 9,000	9,000
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Bank Owned Life Insurance Income	$ 171,000	173,000
Defined Contribution Retirement Plan Participant Approval Period	60 days
Deferred Compensation Arrangement with Individual, Requisite Service Period	10 years
Liability, Defined Benefit Plan	$ 2,546,000	2,181,000
Defined Contribution Plan, Cost	513,000	194,000
Directors Deferral Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Plan	419,000	320,000
Defined Contribution Plan, Cost	109,000	79,000
Common Stock, Shares Held in Employee Trust	$ 856,000	$ 883,000
Common Stock, Shares Held in Employee Trust, Shares	40,875	41,962

Fair value - Recurring and Non

Fair value - Recurring and Non Recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 1,468	$ 1,868
Assets held for sale	514	554
Other real estate owned	526	526
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Government agency obligations	0	0
Mortgage-backed securities	0	0
Subordinated debt	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Government agency obligations	14,845	13,851
Mortgage-backed securities	25,302	26,450
Subordinated debt	6,540	3,452
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Government agency obligations	0	0
Mortgage-backed securities	0	0
Subordinated debt	250	500
Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Government agency obligations	14,845	13,851
Mortgage-backed securities	25,302	26,450
Subordinated debt	6,790	3,952
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Assets held for sale	0	0
Other real estate owned	0	0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Assets held for sale	0	0
Other real estate owned	0	0
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,468	1,868
Assets held for sale	514	554
Other real estate owned	526	526
Fair Value, Measurements, Nonrecurring [Member] | Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,468	1,868
Assets held for sale	514	554
Other real estate owned	$ 526	$ 526

Fair value - Financial Instrume

Fair value - Financial Instruments measured at fair value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Impaired Loans Real Estate Secured [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 1,468	$ 1,868
Impaired Loans Real Estate Secured [Member] | Appraisal or Internal Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	Appraisal or Internal Valuation	Appraisal or Internal Valuation
Impaired Loans Real Estate Secured [Member] | Appraisal or Internal Valuation Technique [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	6.00%	6.00%
Discount for lack of marketability and age of appraisal	6.00%	6.00%
Impaired Loans Real Estate Secured [Member] | Appraisal or Internal Valuation Technique [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	10.00%	10.00%
Discount for lack of marketability and age of appraisal	30.00%	30.00%
Impaired Loans Real Estate Secured [Member] | Appraisal or Internal Valuation Technique [Member] | Weighted Average [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	7.00%	7.00%
Discount for lack of marketability and age of appraisal	10.00%	10.00%
Asset Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 514	$ 554
Asset Held For Sale [Member] | Appraisal or Internal Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	Appraisal or Internal Valuation	Appraisal or Discounted Cash Flow
Asset Held For Sale [Member] | Appraisal or Internal Valuation Technique [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	6.00%	6.00%
Discount for lack of marketability and age of appraisal	6.00%	6.00%
Asset Held For Sale [Member] | Appraisal or Internal Valuation Technique [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	10.00%	10.00%
Discount for lack of marketability and age of appraisal	30.00%	30.00%
Asset Held For Sale [Member] | Appraisal or Internal Valuation Technique [Member] | Weighted Average [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	7.00%	7.00%
Discount for lack of marketability and age of appraisal	15.00%	15.00%
Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 526	$ 526
Other Real Estate Owned [Member] | Appraisal or Internal Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques	Appraisal or Internal Valuation	Appraisal or Internal Valuation
Other Real Estate Owned [Member] | Appraisal or Internal Valuation Technique [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	6.00%	6.00%
Other Real Estate Owned [Member] | Appraisal or Internal Valuation Technique [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	10.00%	10.00%
Other Real Estate Owned [Member] | Appraisal or Internal Valuation Technique [Member] | Weighted Average [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling costs	7.00%	7.00%

Fair value - Carrying amounts a

Fair value - Carrying amounts and estimated fair value of the company's (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial assets
Investment securities available for sale	$ 46,937	$ 44,253
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member]
Financial assets
Cash	19,967	12,717
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member]
Financial assets
Cash	19,967	12,717
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member]
Financial assets
Cash equivalents	0	6,826
Investment securities available for sale	46,687	43,753
Federal Home Loan Bank stock	1,694	1,320
Loans held for sale	12,722	6,128
Accrued interest receivable	2,597	2,662
Financial liabilities
Deposits	443,208	439,047
FHLB borrowings	29,000	21,000
Trust preferred securities	8,764	8,764
Other borrowings	10,912	5,563
Accrued interest payable	221	221
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Financial assets
Cash equivalents	0	6,826
Investment securities available for sale	46,687	43,753
Federal Home Loan Bank stock	1,694	1,320
Loans held for sale	12,722	6,128
Accrued interest receivable	2,597	2,662
Financial liabilities
Deposits	443,645	439,125
FHLB borrowings	29,285	21,093
Trust preferred securities	9,812	8,852
Other borrowings	10,912	5,563
Accrued interest payable	221	221
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member]
Financial assets
Investment securities available for sale	250	500
Loans	427,827	412,562
Impaired loans	1,468	1,868
Assets held for sale	514	554
Other real estate owned	526	526
Bank owned life insurance	7,612	7,441
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member]
Financial assets
Investment securities available for sale	250	500
Loans	429,254	409,939
Impaired loans	1,468	1,868
Assets held for sale	514	554
Other real estate owned	526	526
Bank owned life insurance	$ 7,612	$ 7,441

Segment Reporting - segment inf

Segment Reporting - segment information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenues
Interest income	$ 23,487	$ 21,068
Gain on sale of loans	6,205	5,207
Other revenues	3,578	2,728
Total revenues	33,270	29,003
Expenses
Provision for loan losses	135	0
Interest expense	5,330	3,908
Salaries and benefits	12,241	11,625
Commissions	1,875	1,744
Other expenses	8,048	7,996
Total operating expenses	27,629	25,273
Income before income taxes	5,641	3,730
Income tax expense	1,164	693
Net income	4,477	3,037
Total assets	540,313	514,866
Eliminations [Member]
Revenues
Interest income	(131)	(9)
Gain on sale of loans	0	0
Other revenues	(220)	(210)
Total revenues	(351)	(219)
Expenses
Provision for loan losses	0
Interest expense	(131)	(9)
Salaries and benefits	0	0
Commissions	0	0
Other expenses	(220)	(210)
Total operating expenses	(351)	(219)
Income before income taxes	0	0
Income tax expense	0	0
Net income	0	0
Total assets	(12,664)	(12,551)
Commercial Banking [Member]
Revenues
Interest income	23,079	20,768
Gain on sale of loans	0	0
Other revenues	3,044	2,290
Total revenues	26,123	23,058
Expenses
Provision for loan losses	135
Interest expense	5,330	3,908
Salaries and benefits	9,047	8,360
Commissions	0	0
Other expenses	7,209	7,145
Total operating expenses	21,721	19,413
Income before income taxes	4,402	3,645
Income tax expense	904	672
Net income	3,498	2,973
Total assets	542,053	517,913
Mortgage Banking [Member]
Revenues
Interest income	539	309
Gain on sale of loans	6,205	5,207
Other revenues	754	648
Total revenues	7,498	6,164
Expenses
Provision for loan losses	0
Interest expense	131	9
Salaries and benefits	3,194	3,265
Commissions	1,875	1,744
Other expenses	1,059	1,061
Total operating expenses	6,259	6,079
Income before income taxes	1,239	85
Income tax expense	260	21
Net income	979	64
Total assets	$ 10,924	$ 9,504

Parent Corporation Only Finan_3

Parent Corporation Only Financial Statements - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and due from banks	$ 19,967	$ 12,717
Total assets	540,313	514,866
Liabilities
Other borrowings	5,317	0
Accrued interest payable	221	221
Other liabilities	5,294	3,138
Total liabilities	497,399	477,733
Shareholders' equity
Common stock	5,779	5,707
Additional paid-in capital	54,285	53,212
Common stock warrant		732
Accumulated deficit	(17,292)	(21,769)
Accumulated other comprehensive income (loss)	142	(749)
Total shareholders' equity	42,914	37,133	$ 39,334
Total liabilities and shareholders' equity	540,313	514,866
Parent Company [Member]
Assets
Cash and due from banks	1,007	877
Investment in subsidiaries	53,768	48,272
Investment in special purpose subsidiary	264	264
Prepaid expenses and other assets	2,284	2,094
Total assets	57,323	51,507
Liabilities
Balance due to nonbank subsidiaries	8,764	8,764
Other borrowings	5,595	5,563
Accrued interest payable	47	47
Other liabilities	3	0
Total liabilities	14,409	14,374
Shareholders' equity
Common stock	5,779	5,707
Additional paid-in capital	54,285	53,212
Common stock warrant	0	732
Accumulated deficit	(17,292)	(21,769)
Stock in directors rabbi trust	(856)	(883)
Directors deferred fees obligation	856	883
Accumulated other comprehensive income (loss)	142	(749)
Total shareholders' equity	42,914	37,133
Total liabilities and shareholders' equity	$ 57,323	$ 51,507

Parent Corporation Only Finan_4

Parent Corporation Only Financial Statements - Condensed Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest expense
Interest on borrowed funds	$ 1,478	$ 1,084
Total interest expense	5,330	3,908
Net interest expense	(18,157)	(17,160)
Noninterest expense
Supplies	193	186
Professional and outside services	3,036	2,973
Other	2,131	2,007
Total noninterest expense	20,289	19,621
Net income before income tax benefit	5,641	3,730
Income tax benefit	1,164	693
Net income	4,477	3,037
Total comprehensive income	891	(297)
Parent Company [Member]
Interest income
Village Bank money market	3	4
Interest expense
Interest on borrowed funds	775	653
Total interest expense	775	653
Net interest expense	(772)	(649)
Noninterest expense
Supplies	30	28
Professional and outside services	61	69
Other	42	41
Total noninterest expense	133	138
Net loss before undistributed income of subsidiary	(905)	(787)
Undistributed income of subsidiary	5,192	3,659
Net income before income tax benefit	4,287	2,872
Income tax benefit	(190)	(165)
Net income	4,477	3,037
Total comprehensive income	$ 5,368	$ 2,740

Parent Corporation Only Finan_5

Parent Corporation Only Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 21, 2018	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income		$ 4,477	$ 3,037
Adjustments to reconcile net income to net cash used in operating activities
Amortization of Debt Issuance Costs		32	24
Net change in:
Other assets		2,366	(576)
Interest payable			128
Other liabilities		2,156	(161)
Net cash used in operating activities		145	7,089
Cash Flows from Investing Activities
Net cash provided by investing activities		(17,199)	(40,318)
Cash Flows from Financing Activities
Redemption of preferred stock			(5,027)
Payment of preferred dividends			113
Issuance of subordinated debt, net	$ 5,539	0	5,539
Net cash provided by financing activities		17,478	34,962
Parent Company [Member]
Cash Flows from Operating Activities
Net income		4,477	3,037
Adjustments to reconcile net income to net cash used in operating activities
Amortization of Debt Issuance Costs		32	24
Undistributed income of subsidiary		(5,192)	(3,659)
Net change in:
Other assets		(190)	(163)
Interest payable		0	47
Other liabilities		3	(53)
Net cash used in operating activities		(870)	(767)
Cash Flows from Investing Activities
Dividend from subsidiary		1,000	0
Net cash provided by investing activities		1,000	0
Cash Flows from Financing Activities
Proceeds from exercise of stock options		0	35
Redemption of preferred stock		0	(5,027)
Payment of preferred dividends		0	113
Issuance of subordinated debt, net		0	5,539
Net cash provided by financing activities		0	434
Net increase (decrease) in cash		130	(333)
Cash, beginning of year		877	1,210
Cash, end of year		$ 1,007	$ 877