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Note 8 - Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2021
Notes Tables |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  | Fair Value Measurements Using |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value |
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | — |  |  | $ | 7,441 |  |  | $ | — |  |  | $ | 7,441 |
Municipal securities |  |  | — |  |  |  | 402 |  |  |  | — |  |  |  | 402 |
Mortgage-backed securities – residential |  |  | — |  |  |  | 5,121 |  |  |  | — |  |  |  | 5,121 |
Collateralized mortgage obligations – residential |  |  | — |  |  |  | 1,729 |  |  |  | — |  |  |  | 1,729 |
|  | $ | — |  |  | $ | 14,693 |  |  | $ | — |  |  | $ | 14,693 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | — |  |  | $ | 15,117 |  |  | $ | — |  |  | $ | 15,117 |
Municipal securities |  |  | — |  |  |  | 409 |  |  |  | — |  |  |  | 409 |
Mortgage-backed securities - residential |  |  | — |  |  |  | 6,108 |  |  |  | — |  |  |  | 6,108 |
Collateralized mortgage obligations – residential |  |  | — |  |  |  | 2,195 |  |  |  | — |  |  |  | 2,195 |
|  | $ | — |  |  | $ | 23,829 |  |  | $ | — |  |  | $ | 23,829 |
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  | Fair Value Measurement Using |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value |
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans - nonresidential real estate |  | $ | — |  |  | $ | — |  |  | $ | 268 |  |  | $ | 268 |
Foreclosed assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One–to–four family residential |  | $ | — |  |  | $ | — |  |  | $ | 73 |  |  | $ | 73 |
Nonresidential real estate |  |  | — |  |  |  | — |  |  |  | 140 |  |  |  | 140 |
Other foreclosed assets |  |  | — |  |  |  | — |  |  |  | 792 |  |  |  | 792 |
|  | $ | — |  |  | $ | — |  |  | $ | 1,005 |  |  | $ | 1,005 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans - nonresidential real estate |  | $ | — |  |  | $ | — |  |  | $ | 268 |  |  | $ | 268 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] |
|  | Fair Value |  | Valuation Technique(s) |  | Significant Unobservable Input(s) |  | Range (Weighted Average) |  |
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans - nonresidential real estate |  | $ | 268 |  | Sales comparison |  | Discount applied to valuation |  |  | 22.0 | % |
Foreclosed assets: |  |  |  |  |  |  |  |  |  |  |  |
One–to–four family residential |  | $ | 73 |  | Sales comparison |  | Discount applied to valuation |  |  | 65.0 | % |
Nonresidential real estate |  |  | 140 |  | Sales comparison |  | Discount applied to valuation |  |  | 11.8 | % |
Other foreclosed assets |  |  | 792 |  | Redemption value |  | Discount applied to valuation |  |  | 22.0 | % |
|  | $ | 1,005 |  |  |  |  |  |  |  |  |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans - nonresidential real estate |  | $ | 268 |  | Sales comparison |  | Discount applied to valuation |  |  | 22.0 | % |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at September 30, 2021 Using: |  |  |  |  |
|  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 528,615 |  |  | $ | 11,432 |  |  | $ | 517,183 |  |  | $ | — |  |  | $ | 528,615 |
Securities |  |  | 14,693 |  |  |  | — |  |  |  | 14,693 |  |  |  | — |  |  |  | 14,693 |
Loans receivable, net of allowance for loan losses |  |  | 1,047,056 |  |  |  | — |  |  |  | — |  |  |  | 1,045,500 |  |  |  | 1,045,500 |
FHLB and FRB stock |  |  | 7,490 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | N /A |
Accrued interest receivable |  |  | 5,118 |  |  |  | — |  |  |  | 103 |  |  |  | 5,015 |  |  |  | 5,118 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 217,267 |  |  |  | — |  |  |  | 217,452 |  |  |  | — |  |  |  | 217,452 |
Borrowings |  |  | 5,000 |  |  |  | — |  |  |  | 4,998 |  |  |  | — |  |  |  | 4,998 |
Subordinated Notes |  |  | 19,578 |  |  |  | — |  |  |  | 20,525 |  |  |  | — |  |  |  | 20,525 |
|  |  |  |  |  | Fair Value Measurements at December 31, 2020 Using: |  |  |  |  |
|  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 503,496 |  |  | $ | 14,115 |  |  | $ | 489,381 |  |  | $ | — |  |  | $ | 503,496 |
Securities |  |  | 23,829 |  |  |  | — |  |  |  | 23,829 |  |  |  | — |  |  |  | 23,829 |
Loans receivable, net of allowance for loan losses |  |  | 1,002,578 |  |  |  | — |  |  |  | — |  |  |  | 1,004,854 |  |  |  | 1,004,854 |
FHLB and FRB stock |  |  | 7,490 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | N /A |
Accrued interest receivable |  |  | 3,941 |  |  |  | — |  |  |  | 52 |  |  |  | 3,889 |  |  |  | 3,941 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 253,000 |  |  |  | — |  |  |  | 253,906 |  |  |  | — |  |  |  | 253,906 |
Borrowings |  |  | 4,000 |  |  |  | — |  |  |  | 3,998 |  |  |  | — |  |  |  | 3,998 |

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- 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=123874694&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 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&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=123874694&loc=d3e19207-110258 + Details
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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=123874694&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=123874694&loc=d3e19207-110258 + Details
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