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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, All Other Investments [Abstract]  
Schedule of Estimated 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.