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Fair Value of Financial Instruments
 9 Months Ended
Sep. 30, 2019
Investments, All Other Investments [Abstract]  
Fair Value of Financial Instruments

(7) Fair 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 September 30, 2019   At December 31, 2018
   

Carrying

Amount

    

Fair

Value

     Level  

Carrying

Amount

    

Fair

Value

     Level
Financial assets:                                        
Cash and cash equivalents   $ 8,400     $ 8,400     1   $ 7,983     $ 7,983     1
Securities available for sale     5,861       5,861     2     2,359       2,359     2
Securities held-to-maturity     6,195       6,421     2     7,139       7,175     2
Loans     92,081       91,974     3     77,200       77,062     3
Federal Home Loan Bank stock     642       642     3     1,132       1,132     3
Accrued interest receivable     354       354     3     314       314     3
                                         
Financial liabilities:                                        
Deposit liabilities     93,265       93,342     3     62,378       62,243     3
Federal Home Loan Bank advances     13,000       12,886     3     24,600       24,437     3
Junior subordinated debenture     5,155       N/A (1)   3     5,155       N/A (1)   3
Federal funds purchased     —       —     N/A     560       560     3
Off-balance sheet financial instruments     —       —     N/A     —       —     N/A

 

(1) The Company is unable to determine value based on significant unobservable inputs required in the calculation. Refer to Note 10 for further information.