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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Measurements |
Schedule of assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 are summarized below (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total
​ | ​ | Fair Value Measurements | ​ | Estimated
March 31, 2024 |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Investment Securities Available-for-Sale |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government Agencies | ​ | $ | — | ​ | $ | 1,460 | ​ | $ | — | ​ | $ | 1,460
Mortgage-Backed Securities | ​ |  | — | ​ |  | 50,796 | ​ |  | — | ​ |  | 50,796
Collateralized Mortgage Obligations | ​ |  | — | ​ |  | 1,518 | ​ |  | — | ​ |  | 1,518
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | — | ​ | $ | 53,774 | ​ | $ | — | ​ | $ | 53,774
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total
​ | ​ | Fair Value Measurements | ​ | Estimated
December 31, 2023 |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Investment Securities Available-for-Sale |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government Agencies | ​ | $ | — | ​ | $ | 966 | ​ | $ | — | ​ | $ | 966
Mortgage-Backed Securities | ​ |  | — | ​ |  | 65,328 | ​ |  | — | ​ |  | 65,328
Collateralized Mortgage Obligations | ​ |  | — | ​ |  | 1,607 | ​ |  | — | ​ |  | 1,607
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | — | ​ | $ | 67,901 | ​ | $ | — | ​ | $ | 67,901
​
Schedule of assets and liabilities measured at fair value on a non-recurring basis | The following tables present the Bank’s assets and liabilities measured at fair value on a non-recurring basis at March 31, 2024 and December 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total
​ | ​ | Fair Value Measurements | ​ | Estimated
March 31, 2024 |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Assets |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Collateral Dependent Loans | ​ | $ | — | ​ | $ | — | ​ | $ | 212 | ​ | $ | 212
Real Estate Owned | ​ |  | — | ​ |  | — | ​ |  | 42 | ​ |  | 42
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 254 | ​ | $ | 254
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total
​ | ​ | Fair Value Measurements | ​ | Estimated
December 31, 2023 |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Assets |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Collateral Dependent Loans | ​ | $ | — | ​ | $ | — | ​ | $ | 153 | ​ | $ | 153
Real Estate Owned | ​ |  | — | ​ |  | — | ​ |  | 42 | ​ |  | 42
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 195 | ​ | $ | 195
Schedule of significant unobservable inputs used in the fair value measurement of Level 3 assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Valuation | ​ | Unobservable | ​ | Range of | ​ | Weighted Average
March 31, 2024 |  | Technique |  | Inputs |  | Discount |  | Discount
Collateral Dependent Loans |  | Third-party appraisals and discounted cash flows |  | Collateral discounts and estimated costs to sell |  | 6% - 10% | ​ | 6%
Real Estate Owned |  | Third-party appraisals, sales contracts or brokered price options |  | Collateral discounts and estimated costs to sell |  | 6% - 10% | ​ | 6%
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Valuation | ​ | Unobservable | ​ | Range of | ​ | Weighted Average
December 31, 2023 |  | Technique |  | Inputs |  | Discount |  | Discount
Collateral Dependent Loans |  | Third-party appraisals and discounted cash flows |  | Collateral discounts and estimated costs to sell |  | 6% - 10% | ​ | 6%
Real Estate Owned |  | Third-party appraisals, sales contracts or brokered price options |  | Collateral discounts and estimated costs to sell |  | 6% - 10% | ​ | 6%
Schedule of carrying amount and estimated fair value of financial instruments | The carrying amount and estimated fair value of the Bank’s financial instruments are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Fair Value Measurements
March 31, 2024 |  | Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and Cash Equivalents | ​ | $ | 36,625 | ​ | $ | 36,625 | ​ | $ | — | ​ | $ | —
Investment Securities Available-for-Sale | ​ |  | 53,774 | ​ |  | — | ​ |  | 53,774 | ​ |  | —
Restricted Stock | ​ |  | 888 | ​ |  | — | ​ |  | — | ​ |  | 888
Loans Receivable, Net | ​ |  | 365,403 | ​ |  | — | ​ |  | — | ​ |  | 308,698
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Deposits | ​ |  | 400,386 | ​ |  | — | ​ |  | — | ​ |  | 331,905
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Fair Value Measurements
December 31, 2023 |  | Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and Cash Equivalents | ​ | $ | 19,306 | ​ | $ | 19,306 | ​ | $ | — | ​ | $ | —
Investment Securities Available-for-Sale | ​ |  | 67,901 | ​ |  | — | ​ |  | 67,901 | ​ |  | —
Restricted Stock | ​ |  | 881 | ​ |  | — | ​ |  | — | ​ |  | 881
Loans Receivable, Net | ​ |  | 365,038 | ​ |  | — | ​ |  | — | ​ |  | 303,183
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ |  | 390,003 | ​ |  | — | ​ |  | — | ​ |  | 327,412
Short-Term Federal Home Loan Bank Advances | ​ |  | 4,000 | ​ |  | — | ​ |  | 4,000 | ​ |  | —

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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://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + 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 -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of liabilities measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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