Fair Value (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value

Summary of assets measured at fair value on recurring basis

	Fair Value Measurements at December 31, 2016
	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	$	-	$	11,214	$	-	$	11,214
Securities available-for-sale – U.S. Government and federal agency		1,988		-		-		1,988

	Fair Value Measurements at December 31, 2015
	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	$	-	$	12,167	$	-	$	12,167
Securities available-for-sale – U.S. Government and federal agency		1,973		-		-		1,973

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

	December 31, 2016		December 31, 2015
	(In thousands)
Impaired loans carried at fair value of collateral	$	1,744	$	2,557
Real estate owned		-		360

Schedule of losses recognized on assets measured at fair value on non-recurring basis

	For the year ended December 31,
	2016		2015
	(In thousands)
Impaired loans carried at fair value of collateral	$	-	$	38
Real estate owned		-		45
Total	$	-	$	83

Schedule of valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis

	December 31, 2016
	Valuation Technique(s)	Unobservable Input(s)	Range	Weighted Average
Impaired loans	Third Party Appraisals	Adjustment for differences between the comparable sales	–2% to 0%	–1%

	December 31, 2015
	Valuation Technique(s)	Unobservable Input(s)	Range	Weighted Average
Impaired loans	Third Party Appraisals	Adjustment for differences between the comparable sales	–12% to 13%	1%
Real estate owned	Third Party Appraisals	Adjustment for differences between the comparable sales	–11%	–11%

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at December 31, 2016
	Carrying Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	18,430	$	18,430	$	-	$	-	$	18,430
Securities available-for-sale		13,202		1,988		11,214		-		13,202
Loans receivable held for investment		379,454		-		-		382,717		382,717
Accrued interest receivable		1,178		64		29		1,085		1,178
Federal Home Loan Bank stock		2,573		2,573		-		-		2,573
Financial Liabilities:
Deposits	$	287,427	$	-	$	278,254	$	-	$	278,254
Federal Home Loan Bank advances		85,000		-		85,748		-		85,748
Junior subordinated debentures		5,100		-		-		4,414		4,414
Accrued interest payable		154		-		147		7		154

			Fair Value Measurements at December 31, 2015
	Carrying Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	67,839	$	67,839	$	-	$	-	$	67,839
Securities available-for-sale		14,140		1,973		12,167		-		14,140
Loans receivable held for investment		304,171		-		-		306,643		306,643
Accrued interest receivable		1,077		63		31		983		1,077
Federal Home Loan Bank stock		2,573		2,573		-		-		2,573
Financial Liabilities:
Deposits	$	272,614	$	-	$	265,495	$	-	$	265,495
Federal Home Loan Bank advances		72,000		-		73,441		-		73,441
Junior subordinated debentures		5,100		-		-		3,117		3,117
Accrued interest payable		52		-		46		6		52