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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2020
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 June 30, 2020: |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale - federal agency mortgage-backed |  | $ | — |  | $ | 7,138 |  | $ | — |  | $ | 7,138
Securities available-for-sale - federal agency debt |  |  | — |  |  | 3,054 |  |  | — |  |  | 3,054
At December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale - federal agency mortgage-backed |  | $ | — |  | $ | 7,956 |  | $ | — |  | $ | 7,956
Securities available-for-sale - federal agency debt |  |  | — |  |  | 3,050 |  |  | — |  |  | 3,050
Schedule of carrying values of assets measured at fair value on non-recurring basis |
|  | June 30, 2020 |  | December 31, 2019
|  | (In thousands)
Impaired loans carried at fair value of collateral |  | $ | — |  | $ | 130
Schedule of carrying amounts and estimated fair values of financial instruments |
|  |  |  | Fair Value Measurements at June 30, 2020
|  | Carrying |  |  |  |  |  |  |  |
|  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In thousands)
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans receivable held for sale |  | $ | 49,719 |  | $ | — |  | $ | 49,735 |  | $ | — |  | $ | 49,735
Loans receivable held for investment |  |  | 374,417 |  |  | — |  |  | — |  |  | 377,618 |  |  | 377,618
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time Deposits |  | $ | 153,406 |  | $ | — |  | $ | 154,448 |  | $ | — |  | $ | 154,448
Federal Home Loan Bank advances |  |  | 116,500 |  |  | — |  |  | 120,788 |  |  | — |  |  | 120,788
Junior subordinated debentures |  |  | 3,825 |  |  | — |  |  | — |  |  | 3,261 |  |  | 3,261
|  |  |  | Fair Value Measurements at December 31, 2019
|  | Carrying |  |  |  |  |  |  |  |
|  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In thousands)
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans receivable held for sale |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Loans receivable held for investment |  | $ | 397,847 |  |  | — |  |  | — |  | $ | 404,923 |  | $ | 404,923
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time Deposits |  | $ | 190,235 |  | $ | — |  | $ | 190,353 |  | $ | — |  | $ | 190,353
Federal Home Loan Bank advances |  |  | 84,000 |  |  | — |  |  | 84,997 |  |  | — |  |  | 84,997
Junior subordinated debentures |  |  | 4,335 |  |  | — |  |  | — |  |  | 3,734 |  |  | 3,734

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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=117815213&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=117815213&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=117815213&loc=d3e19207-110258 + 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=117815213&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 (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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