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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurements [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

		Fair Value Measurements at Reporting Date Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
(In thousands)		Total			Level 1			Level 2			Level 3
December 31, 2020
State and municipal		$	10,894		$	—		$	10,894		$	—
Asset-backed securities			4,710			—			4,710			—
Mortgage-backed securities			16,611			—			16,611			—
Totals		$	32,215		$	—		$	32,215		$	—
December 31, 2019
State and municipal		$	11,206		$	—		$	11,206		$	—
Asset-backed securities			5,500			—			5,500			—
Mortgage-backed securities			25,084			—			25,084			—
Totals		$	41,790		$	—		$	41,790		$	—

Schedule of Assets Measured at Fair Value on a Nonrecurring Basis

	Fair Value Measurements at Reporting Date Using:
				Quoted Prices in			Significant			Significant
				Active Markets for			Other Observable			Unobservable
				Identical Assets			Inputs			Inputs
(In thousands)	Total			Level 1			Level 2			Level 3
December 31, 2020
Impaired loans
Commercial	$	2,000		$	—		$	—		$	2,000
Totals	$	2,000		$	—		$	—		$	2,000
December 31, 2019
Impaired loans
Commercial real estate	$	215		$	—		$	—		$	215
Commercial		1,805			—			—			1,805
Totals	$	2,020		$	—		$	—		$	2,020

Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis

(In thousands)	Fair Value			Valuation Technique		Unobservable Input		Range
December 31, 2020
Impaired loans
Commercial	$	2,000		Business valuation		Comparable company evaluations		—
December 31, 2019
Impaired loans
Commercial real estate	$	215		Real estate appraisals		Discount for dated appraisals		6 - 10%
Commercial		1,805		Business valuation		Comparable company evaluations		—

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading

		Carrying			Fair Value
(In thousands)		Amount			Level 1			Level 2			Level 3			Total
December 31, 2020
Financial assets:
Cash and cash equivalents		$	83,819		$	83,819		$	—		$	—		$	83,819
Debt securities available-for-sale			32,215			—			32,215			—			32,215
Federal Home Loan Bank of Boston stock			895			N/A			N/A			N/A			N/A
Loans, net			1,314,810			—			—			1,321,143			1,321,143
Accrued interest receivable			6,371			—			6,371			—			6,371
Financial liabilities:
Deposits			1,237,428			—			1,237,867			—			1,237,867
Borrowings			13,500			—			14,016			—			14,016
December 31, 2019
Financial assets:
Cash and cash equivalents		$	59,658		$	59,658		$	—		$	—		$	59,658
Debt securities available-for-sale			41,790			—			41,790			—			41,790
Federal Home Loan Bank of Boston stock			1,416			N/A			N/A			N/A			N/A
Loans, net			959,286			—			—			958,270			958,270
Accrued interest receivable			2,854			—			2,854			—			2,854
Financial liabilities:
Deposits			849,905			—			850,774			—			850,774
Borrowings			24,998			—			25,351			—			25,351

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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

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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
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-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Name Accounting Standards Codification
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-Subparagraph (a)
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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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

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-Topic 820
-SubTopic 10
-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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