Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value

Summary of assets measured at fair value on recurring basis

	Fair Value Measurements at December 31, 2014
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In thousands)
Assets:
Securities available-for-sale—residential mortgage-backed	$	—	$	15,118	$	—	$	15,118
Securities available-for-sale—U.S. Government and federal agency		1,957		—		—		1,957

	Fair Value Measurements at December 31, 2013
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In thousands)
Assets:
Securities available-for-sale—residential mortgage-backed	$	—	$	9,397	$	—	$	9,397

Schedule of carrying values of assets measured at fair value on non-recurring basis

	December 31, 2014		December 31, 2013
	(In thousands)
Assets:
Impaired loans carried at fair value of collateral:
Single family	$	549	$	1,245
Multi-family		323		900
Commercial real estate		1,177		1,391
Church		3,779		9,024
Real estate owned:
Commercial real estate		—		151
Church		2,082		1,933

Schedule of quantitative information on financial instruments measured on non-recurring basis

	December 31, 2014
	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
	(Dollars in thousands)
Impaired loans—single family	$	549	Sales comparison approach	Adjustment for differences between the comparable sales	–1% to 9% (–4%)
Impaired loans—multi-family		323	Sales comparison approach	Adjustment for differences between the comparable sales	–18%
			Income approach	Capitalization rate	7%
Impaired loans—commercial real estate		1,177	Sales comparison approach	Adjustment for differences between the comparable sales	0% to 1% (0%)
			Income approach	Capitalization rate	5% to 7.25% (6.64%)
Impaired loans—church		3,779	Sales comparison approach	Adjustment for differences between the comparable sales	–12% to 18% (5%)
			Income approach	Capitalization rate	6%
Real estate owned—church		2,082	Sales comparison approach	Adjustment for differences between the comparable sales	–1% to 2% (0%)

	December 31, 2013
	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
	(Dollars in thousands)
Impaired loans—single family	$	1,245	Sales comparison approach	Adjustment for differences between the comparable sales	–6% to 6% (–1%)
Impaired loans—multi-family		900	Sales comparison approach	Adjustment for differences between the comparable sales	–15% to 1% (–9%)
			Income approach	Capitalization rate	8% to 9% (8.59%)
Impaired loans—commercial real estate		1,391	Sales comparison approach	Adjustment for differences between the comparable sales	–1% to 0% (–1%)
			Income approach	Capitalization rate	4.5% to 8% (7.06%)
Impaired loans—church		9,024	Sales comparison approach	Adjustment for differences between the comparable sales	–21% to 9% (–1%)
			Income approach	Capitalization rate	6.75%
Real estate owned—commercial real estate		151	Sales comparison approach	Adjustment for differences between the comparable sales	3% (3%)
			Income approach	Capitalization rate	10%
Real estate owned—church		1,933	Sales comparison approach	Adjustment for differences between the comparable sales	–7% to 7% (0%)

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at December 31, 2014
	Carrying Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	20,790	$	20,790	$	—	$	—	$	20,790
Securities available-for-sale		17,075		1,957		15,118		—		17,075
Loans receivable held for sale		19,481		—		—		19,679		19,679
Loans receivable held for investment		276,643		—		—		277,000		277,000
Federal Home Loan Bank stock		4,254		—		—		—		N/A
Accrued interest receivable		1,216		—		45		1,171		1,216
Financial Liabilities:
Deposits	$	217,867	$	—	$	210,181	$	—	$	210,181
Federal Home Loan Bank advances		86,000		—		88,246		—		88,246
Junior subordinated debentures		5,100		—		—		2,034		2,034

			Fair Value Measurements at December 31, 2013
	Carrying Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	58,196	$	58,196	$	—	$	—	$	58,196
Securities available-for-sale		9,397		—		9,397		—		9,397
Loans receivable held for investment		247,847		—		—		248,167		248,167
Federal Home Loan Bank stock		3,737		—		—		—		N/A
Accrued interest receivable		1,107		—		27		1,080		1,107
Financial Liabilities:
Deposits	$	214,405	$	—	$	209,656	$	—	$	209,656
Federal Home Loan Bank advances		79,500		—		82,840		—		82,840
Junior subordinated debentures		6,000		—		—		2,167		2,167
Senior debt		2,923		—		—		1,429		1,429