XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Fair Value [Abstract] |
Assets Measured on Recurring Basis | Assets measured at fair value on a recurring basis are summarized below:
|  | Fair Value Measurement |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
|  | (In thousands) |
At September 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale – federal agency mortgage-backed |  | $ | - |  |  | $ | 82,365 |  |  | $ | - |  |  | $ | 82,365 |
Securities available-for-sale – federal agency CMO |  |  | - |  |  |  | 5,478 |  |  |  | - |  |  |  | 5,478 |
Securities available-for-sale – federal agency debt |  |  | - |  |  |  | 36,061 |  |  |  | - |  |  |  | 36,061 |
Municipal bonds |  |  | - |  |  |  | 4,933 |  |  |  | - |  |  |  | 4,933 |
U. S. Treasuries |  |  | - |  |  |  | 18,167 |  |  |  | - |  |  |  | 18,167 |
SBA pools |  |  | - |  |  |  | 10,624 |  |  |  | - |  |  |  | 10,624 |
At December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale – federal agency mortgage-backed |  | $ | - |  |  | $ | 5,807 |  |  | $ | - |  |  | $ | 5,807 |
Securities available-for-sale – federal agency debt |  |  | - |  |  |  | 2,872 |  |  |  | - |  |  |  | 2,872 |
Municipal bonds |  |  | - |  |  |  | 2,019 |  |  |  | - |  |  |  | 2,019 |
Fair Values of Financial Instruments | For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.
|  |  |  |  | Fair Value Measurements at September 30, 2021 |
|  | Carrying Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (In thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 208,687 |  |  | $ | 208,687 |  |  | $ | - |  |  | $ | - |  |  | $ | 208,687 |
Securities available-for-sale |  |  | 157,628 |  |  |  | - |  |  |  | 157,628 |  |  |  | - |  |  |  | 157,628 |
Loans receivable held for investment |  |  | 642,198 |  |  |  | - |  |  |  | - |  |  |  | 647,988 |  |  |  | 647,988 |
Accrued interest receivables |  |  | 2,565 |  |  |  | 206 |  |  |  | 275 |  |  |  | 2,084 |  |  |  | 2,565 |
Bank owned life insurance |  |  | 3,179 |  |  |  | 3,179 |  |  |  | - |  |  |  | - |  |  |  | 3,179 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 749,645 |  |  | $ | - |  |  | $ | 749,645 |  |  | $ | - |  |  | $ | 749,645 |
Securities sold under agreements to repurchase |  |  | 52,876 |  |  |  | - |  |  |  | 52,332 |  |  |  | - |  |  |  | 52,332 |
Federal Home Loan Bank advances |  |  | 91,070 |  |  |  | - |  |  |  | 92,836 |  |  |  | - |  |  |  | 92,836 |
Note payable |  |  | 14,000 |  |  |  | - |  |  |  | - |  |  |  | 14,000 |  |  |  | 14,000 |
Accrued interest payable |  |  | 99 |  |  |  | - |  |  |  | 99 |  |  |  | - |  |  |  | 99 |
|  |  |  |  | Fair Value Measurements at December 31, 2020 |
|  | Carrying Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (In thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 96,109 |  |  | $ | 96,109 |  |  | $ | - |  |  | $ | - |  |  | $ | 96,109 |
Securities available-for-sale |  |  | 10,698 |  |  |  | - |  |  |  | 10,698 |  |  |  | - |  |  |  | 10,698 |
Loans receivable held for investment |  |  | 360,129 |  |  |  | - |  |  |  | - |  |  |  | 366,279 |  |  |  | 366,279 |
Accrued interest receivables |  |  | 1,202 |  |  |  | 60 |  |  |  | 14 |  |  |  | 1,128 |  |  |  | 1,202 |
Bank owned life insurance |  |  | 3,147 |  |  |  | 3,147 |  |  |  | - |  |  |  | - |  |  |  | 3,147 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 315,630 |  |  | $ | - |  |  | $ | 312,725 |  |  | $ | - |  |  | $ | 312,725 |
Federal Home Loan Bank advances |  |  | 110,500 |  |  |  | - |  |  |  | 113,851 |  |  |  | - |  |  |  | 113,851 |
Junior subordinated debentures |  |  | 3,315 |  |  |  | - |  |  |  | - |  |  |  | 2,798 |  |  |  | 2,798 |
Accrued interest payable |  |  | 88 |  |  |  | - |  |  |  | 84 |  |  |  | 4 |  |  |  | 88 |

X
- 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=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 (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration