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Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:

		September 30, 2019
		Fair Value Measurements Using
		Level 1				Level 2				Level 3				Total
		(In Thousands)
Assets:
Securities available-for-sale:
U.S. government agency securities - government-sponsored enterprises		$	—			$	1,001			$	—			$	1,001
Municipal securities		—				160				—				160
Mortgage backed securities - government issued		—				48,619				—				48,619
Mortgage backed securities - government-sponsored enterprises		—				108,652				—				108,652
Other securities		—				2,233				—				2,233
Interest rate swaps		—				23,128				—				23,128
Liabilities:
Interest rate swaps		—				26,580				—				26,580

		December 31, 2018
		Fair Value Measurements Using
		Level 1				Level 2				Level 3				Total
		(In Thousands)
Assets:
Securities available-for-sale:
U.S. government agency securities - government-sponsored enterprises		$	—			$	990			$	—			$	990
Municipal securities		—				5,886				—				5,886
Mortgage backed securities - government issued		—				19,628				—				19,628
Mortgage backed securities - government-sponsored enterprises		—				109,478				—				109,478
Other securities		—				2,376				—				2,376
Interest rate swaps		—				4,637				—				4,637
Liabilities:
Interest rate swaps		—				4,779				—				4,779

Fair Value Measurements, Nonrecurring Basis

Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy are summarized below:

		September 30, 2019
		Fair Value Measurements Using
		Level 1				Level 2				Level 3				Total
		(In Thousands)
Impaired loans		$	—			$	—			$	17,689			$	17,689
Foreclosed properties		—				—				2,902				2,902
Loan servicing rights		—				—				1,210				1,210

		December 31, 2018
		Fair Value Measurements Using
		Level 1				Level 2				Level 3				Total
		(In Thousands)
Impaired loans		$	—			$	—			$	15,706			$	15,706
Foreclosed properties		—				—				2,547				2,547
Loan servicing rights		—				—				1,278				1,278

Fair Value, by Balance Sheet Grouping

Fair value estimates, methods, and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:

		September 30, 2019
		Carrying Amount				Fair Value
						Total				Level 1				Level 2				Level 3
		(In Thousands)
Financial assets:
Cash and cash equivalents		$	60,958			$	60,957			$	55,057			$	5,900			$	—
Securities available-for-sale		160,665				160,665				—				160,665				—
Securities held-to-maturity		33,400				33,963				—				33,963				—
Loans held for sale		3,070				3,347				—				3,347				—
Loans and lease receivables, net		1,700,372				1,698,648				—				—				1,698,648
Federal Home Loan Bank stock		8,315				N/A				N/A				N/A				N/A
Accrued interest receivable		5,599				5,599				5,599				—				—
Interest rate swaps		23,128				23,128				—				23,128				—
Financial liabilities:
Deposits		1,508,816				1,509,438				1,166,250				343,188				—
Federal Home Loan Bank advances and other borrowings		332,897				332,509				—				332,509				—
Junior subordinated notes		10,044				9,966				—				—				9,966
Accrued interest payable		3,019				3,019				3,019				—				—
Interest rate swaps		26,580				26,580				—				26,580				—
Off-balance sheet items:
Standby letters of credit		53				53				—				—				53

N/A = The fair value is not applicable due to restrictions placed on transferability

		December 31, 2018
		Carrying Amount				Fair Value
						Total				Level 1				Level 2				Level 3
		(In Thousands)
Financial assets:
Cash and cash equivalents		$	86,546			$	86,546			$	67,246			$	19,300			$	—
Securities available-for-sale		138,358				138,358				—				138,358				—
Securities held-to-maturity		37,731				37,409				—				37,409				—
Loans held for sale		5,287				5,816				—				5,816				—
Loans and lease receivables, net		1,597,230				1,589,323				—				—				1,589,323
Federal Home Loan Bank stock		7,240				N/A				N/A				N/A				N/A
Accrued interest receivable		5,684				5,684				5,684				—				—
Interest rate swaps		4,637				4,637				—				4,637				—
Financial liabilities:
Deposits		1,455,299				1,453,482				1,026,648				426,834				—
Federal Home Loan Bank advances and other borrowings		298,944				294,127				—				294,127				—
Junior subordinated notes		10,033				9,955				—				—				9,955
Accrued interest payable		3,696				3,696				3,696				—				—
Interest rate swaps		4,779				4,779				—				4,779				—
Off-balance sheet items:
Standby letters of credit		59				59				—				—				59

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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