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Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2019
Fair Value |
Summary of assets measured at fair value on a recurring basis |
|  | Fair Value Measurement
|  | Quoted Prices |  |  |  |  |  |
|  | in Active |  | Significant |  |  |  |
|  | Markets for |  | Other |  | Significant |  |
|  | Identical |  | Observable |  | Unobservable |  |
|  | Assets |  | Inputs |  | Inputs |  |
|  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total
|  | (In thousands)
At March 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale - federal agency mortgage-backed |  | $ | — |  | $ | 9,223 |  | $ | — |  | $ | 9,223
Securities available-for-sale - federal agency debt |  |  | 1,988 |  |  | 3,306 |  |  | — |  |  | 5,294
At December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale - federal agency mortgage-backed |  | $ | — |  | $ | 9,508 |  | $ | — |  | $ | 9,508
Securities available-for-sale - federal agency debt |  |  | 1,979 |  |  | 3,235 |  |  | — |  |  | 5,214
Schedule of carrying values of assets measured at fair value on non-recurring basis |
|  | March 31, 2019 |  | December 31, 2018
|  | (In thousands)
Impaired loans carried at fair value of collateral |  | $ | 439 |  | $ | 591
Real estate owned |  |  | 820 |  |  | 833
Schedule of valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis |
|  | Valuation |  |  |  |  |  | Weighted
|  | Technique(s) |  | Unobservable Input(s) |  | Range |  | Average
March 31, 2019: |  |  |  |  |  |  |  |
Impaired loans |  | Third Party |  | Adjustment for differences |  |  |  |
|  | Appraisals |  | between the comparable sales |  | -3% to -1% |  | -2.57%
Real estate owned |  | Third Party |  | Adjustment for differences |  |  |  |
|  | Appraisals |  | between the comparable sales |  | -11% |  | -10.85%
December 31, 2018: |  |  |  |  |  |  |  |
Impaired loans |  | Third Party |  | Adjustment for differences |  |  |  |
|  | Appraisals |  | between the comparable sales |  | -3% to -1% |  | -2.83%
Real estate owned |  | Third Party |  | Adjustment for differences |  |  |  |
|  | Appraisals |  | between the comparable sales |  | -11% |  | -10.85%
Schedule of carrying amounts and estimated fair values of financial instruments |
|  |  |  | Fair Value Measurements at March 31, 2019
|  | Carrying |  |  |  |  |  |  |  |
|  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In thousands)
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans receivable held for sale |  | $ | 5,154 |  | $ | — |  | $ | 5,154 |  | $ | — |  | $ | 5,154
Loans receivable held for investment |  |  | 365,015 |  |  | — |  |  | — |  |  | 360,882 |  |  | 360,882
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time Deposits |  | $ | 180,543 |  | $ | — |  | $ | 180,077 |  | $ | — |  | $ | 180,077
Federal Home Loan Bank advances |  |  | 75,000 |  |  | — |  |  | 75,403 |  |  | — |  |  | 75,403
Junior subordinated debentures |  |  | 5,100 |  |  | — |  |  | — |  |  | 4,459 |  |  | 4,459
|  |  |  | Fair Value Measurements at December 31, 2018
|  | Carrying |  |  |  |  |  |  |  |
|  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In thousands)
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans receivable held for sale |  | $ | 6,231 |  | $ | — |  | $ | 6,270 |  | $ | — |  | $ | 6,270
Loans receivable held for investment |  |  | 355,556 |  |  | — |  |  | — |  |  | 354,792 |  |  | 354,792
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time Deposits |  | $ | 172,564 |  | $ | — |  | $ | 171,725 |  | $ | — |  | $ | 171,725
Federal Home Loan Bank advances |  |  | 70,000 |  |  | — |  |  | 69,933 |  |  | — |  |  | 69,933
Junior subordinated debentures |  |  | 5,100 |  |  | — |  |  | — |  |  | 4,481 |  |  | 4,481

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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=99377789&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=99377789&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=99377789&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=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition 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 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=99377789&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 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 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=99377789&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=109250915&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=99377789&loc=d3e19207-110258 + Details
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