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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
FAIR VALUE MEASUREMENTS |
Schedule of fair values of assets and liabilities measured on a recurring and nonrecurring basis | Fair value measurements of assets and liabilities measured on a recurring basis at December 31, 2021 and 2020 follow:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at Reporting Date Using
(Dollars in thousands) |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2021 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Available-for-sale securities | ​ | $ | 88,339 | ​ | $ | - | ​ | $ | 88,339 | ​ | $ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2020 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Available-for-sale securities | ​ | $ | 20,730 | ​ | $ | - | ​ | $ | 20,730 | ​ | $ | -
​ Fair value measurements of assets and liabilities measured on a nonrecurring basis at December 31, 2021 and 2020 follow:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at Reporting Date Using
(Dollars in thousands) |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2021 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Impaired loans | ​ | $ | 1,020 | ​ | $ | - | ​ | $ | - | ​ | $ | 1,020
Foreclosed assets | ​ | ​ | 340 | ​ |  | - | ​ |  | - | ​ |  | 340
Total | ​ | $ | 1,360 | ​ | $ | - | ​ | $ | - | ​ | $ | 1,360
December 31, 2020 | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans | ​ | $ | 953 | ​ | $ | - | ​ | $ | - | ​ | $ | 953
Foreclosed assets | ​ | ​ | 415 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 415
Total | ​ | $ | 1,368 | ​ | $ | - | ​ | $ | - | ​ | $ | 1,368
Schedule of estimated fair values of the Bank's financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
(Dollars in thousands) |  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ |
Cash and cash equivalents | ​ | $ | 40,884 | ​ | $ | 40,884 | ​ | $ | 40,884 |  | $ | - |  | $ | -
Investment securities: | ​ |  |  | ​ |  |  | ​ |  |  |  |  |  |  |  |
Available-for-sale | ​ |  | 88,339 | ​ |  | 88,339 | ​ |  | - |  |  | 88,339 |  |  | -
Held-to-maturity | ​ |  | 13,498 | ​ |  | 13,152 | ​ |  | - |  |  | 13,152 |  |  | -
Loans receivable, net | ​ |  | 129,566 | ​ |  | 128,591 | ​ |  | - |  |  | - |  |  | 128,591
Bank-owned life insurance | ​ | ​ | 3,303 | ​ | ​ | 3,303 | ​ | ​ | - | ​ | ​ | 3,303 | ​ | ​ | -
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  |  |  |  |  |  |
Deposits | ​ |  | 176,795 | ​ |  | 176,869 | ​ |  | - |  |  | 176,869 |  |  | -
Borrowed funds | ​ |  | 9,018 | ​ |  | 8,720 | ​ |  | - |  |  | 8,720 |  |  | -
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
(Dollars in thousands) |  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  |  |  |  |  |
Cash and cash equivalents | ​ | $ | 25,245 | ​ | $ | 25,245 | ​ | $ | 25,245 |  | $ | - |  | $ | -
Investment securities: | ​ |  |  | ​ |  |  | ​ |  |  |  |  |  |  |  |
Available-for-sale | ​ |  | 20,730 | ​ |  | 20,730 | ​ |  | - |  |  | 20,730 |  |  | -
Held-to-maturity | ​ |  | 17,523 | ​ |  | 17,505 | ​ |  | - |  |  | 17,505 |  |  | -
Loans receivable, net | ​ |  | 148,778 | ​ |  | 148,674 | ​ |  | - |  |  | - |  |  | 148,674
Bank-owned life insurance | ​ | ​ | 3,213 | ​ | ​ | 3,213 | ​ | ​ | - | ​ | ​ | 3,213 | ​ | ​ | -
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  |  |  |  |  |  |
Deposits | ​ |  | 164,598 | ​ |  | 164,951 | ​ |  | - |  |  | 164,951 |  |  | -
Borrowed funds | ​ |  | 8,838 | ​ |  | 9,052 | ​ |  | - |  |  | 9,052 |  |  | -

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