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Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Measurements and Fair Value of Financial Instruments [Abstract] |
Fair Value Measurements, Recurring | (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable UnobservableDescription Total Assets Inputs Inputs (In Thousands)As of December 31, 2021: Securities Available for Sale Debt Securities Available for Sale $ 85,186 $ - $ 85,186 $ - Marketable Equities 25,187 25,187 - -Total Securities Available for Sale $ 110,373 $ 25,187 $ 85,186 $ - As of December 31, 2020: Securities Available for Sale Debt Securities Available for Sale $ 99,756 $ - $ 99,756 $ - Marketable Equities 17,717 17,717 - -Total Securities Available for Sale $ 117,473 $ 17,717 $ 99,756 $ -
Fair Value Measurements, Nonrecurring | (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable UnobservableDescription Total Assets Inputs Inputs (In Thousands)As of December 31, 2021: Impaired loans $ 14,796 $ - $ - $ 14,796Other real estate owned $ 75 $ - $ - $ 75 As of December 31, 2020: Impaired loans $ 10,130 $ - $ - $ 10,130Other real estate owned $ 414 $ - $ - $ 414
Quantitative Information about Level 3 Fair Value Measurements | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value, (Dollars in thousands): Quantitative Information about Level 3 Fair Value Measurements Fair ValueValuationUnobservable Range EstimateTechniquesInput December 31, 2021: Impaired Loans$14,796Appraisal of collateral (1)Appraisal adjustments (2)0%-10% Other Real Estate Owned$75Appraisal of collateral (1)Appraisal adjustments (2)0%-10% Note 18- Fair Value Measurements and Fair Value of Financial Instruments (continued) Quantitative Information about Level 3 Fair Value Measurements Fair ValueValuationUnobservable Range EstimateTechniquesInput December 31, 2020: Impaired Loans$10,130Appraisal of collateral (1)Appraisal adjustments (2)0%-10% Other Real Estate Owned$414Appraisal of collateral (1)Appraisal adjustments (2)0%-10% (1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.(2)Appraisals may be adjusted by management for qualitative factors such as age of appraisal, expected condition of property, economic conditions, and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.
Carrying Values and Estimated Fair Values of Financial Instruments | As of December 31, 2021 Quoted Prices in Active Significant Significant Carrying Markets for Identical Assets Other Observable Inputs Unobservable Inputs Value Fair Value (Level 1) (Level 2) (Level 3) (In Thousands)Financial assets: Cash and cash equivalents $ 411,629 $ 411,629 $ 411,629 $ - $ -Interest-earning time deposits 735 735 - 735 -Debt securities available for sale 85,186 85,186 - 85,186 -Equity investments 25,187 25,187 25,187 - -Loans held for sale 952 952 - 952 -Loans receivable, net 2,304,942 2,313,204 - - 2,313,204 FHLB of New York stock, at cost 6,084 6,084 - 6,084 -Accrued interest receivable 9,183 9,183 - 9,183 - Financial liabilities: Deposits 2,561,402 2,520,191 1,881,121 639,070 -Debt 71,711 71,214 - 71,214 -Subordinated debentures 37,275 45,020 - 45,020 -Accrued interest payable 1,051 1,051 - 1,051 - As of December 31, 2020 Quoted Prices in Active Significant Significant Carrying Markets for Identical Assets Other Observable Inputs Unobservable Inputs Value Fair Value (Level 1) (Level 2) (Level 3) (In Thousands)Financial assets: Cash and cash equivalents $ 261,229 $ 261,229 $ 261,229 $ - $ -Interest-earning time deposits 735 735 - 735 -Debt securities available for sale 99,756 99,756 - 99,756 -Equity investments 17,717 17,717 17,717 - -Loans held for sale 3,530 3,530 - 3,530 -Loans receivable, net 2,295,021 2,309,118 - - 2,309,118 FHLB of New York stock, at cost 11,324 11,324 - 11,324 -Accrued interest receivable 12,924 12,924 - 12,924 - Financial liabilities: Deposits 2,318,050 2,323,561 1,627,871 695,690 -Debt 191,161 194,899 - 194,899 -Subordinated debentures 37,042 37,252 - 37,252 -Accrued interest payable 1,463 1,463 - 1,463 -+

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- 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 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 (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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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 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=123594938&loc=d3e13467-108611 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 (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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