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Value of Financial Instruments
 3 Months Ended
Mar. 31, 2017
Investments, All Other Investments [Abstract]  
Value of Financial Instruments
(8) Value of Financial Instruments. The estimated fair values and fair value measurement method with respect to the Company’s financial instruments were as follows (in thousands):

 

   At March 31, 2017   At December 31, 2016 
   Carrying
Amount		   Fair
Value		   Level   Carrying
Amount		   Fair
Value		   Level 
Financial assets:                             
Cash and cash equivalents  $17,781   $17,781   1   $17,640   $17,640    1 
Securities available for sale   19,759    19,759   2    20,222    20,222    2 
Loans   75,532    75,424   3    76,999    76,829    3 
Federal Home Loan Bank stock   979    979   3    1,113    1,113    3 
Accrued interest receivable   382    382   3    380    380    3 
                              
Financial liabilities:                             
Deposit liabilities   86,993    87,356   3    86,009    86,364    3 
Federal Home Loan Bank advances   20,500    20,454   3    23,500    23,500    3 
Junior subordinated debenture   5,155    N/A(1)  3    5,155    N/A(1)   3 
Off-balance sheet financial instruments   —    —   —    —    —    — 

 

(1) The Company is unable to determine value based on significant unobservable inputs required in the calculation refer to Note 10 for further information.
   
  The Company is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are commitments to extend credit and may involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the consolidated balance sheet. The contract amounts of these instruments reflect the extent of involvement the Company has in these financial instruments.
   
  The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance-sheet instruments.
   
  Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company, upon extension of credit, is based on management’s credit evaluation of the counterparty.
   
  As of March 31, 2017, commitments to extend credit totaled $1.9 million.