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Fair Value (Tables)

6 Months Ended

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

X

- 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

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-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

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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

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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=118260190&loc=d3e13467-108611

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-Publisher FASB
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-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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