Fair Value (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value

Summary of assets measured at fair value on a recurring basis

	Fair Value Measurement
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In thousands)
At December 31, 2017:
Securities available-for-sale – federal agency mortgage-backed	$	-	$	12,008	$	-	$	12,008
Securities available-for-sale – federal agency debt		1,976		3,510		-		5,486
At December 31, 2016:
Securities available-for-sale – federal agency mortgage-backed	$	-	$	11,214	$	-	$	11,214
Securities available-for-sale – federal agency debt		1,988		-		-		1,988

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

	December 31, 2017		December 31, 2016
	(In thousands)
Impaired loans carried at fair value of collateral	$	742	$	1,744
Real estate owned		878		-

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

	For the year ended December 31,
	2017		2016
	(In thousands)
Impaired loans carried at fair value of collateral	$	-	$	-
Real estate owned		80		-
Total	$	80	$	-

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

	Valuation Technique(s)	Unobservable Input(s)	Range	Weighted Average
December 31, 2017:
Impaired loans	Third Party Appraisals	Adjustment for differences between the comparable sales	–16% to 7%	–4%
Real estate owned – church	Third Party Appraisals	Adjustment for differences between the comparable sales	–6%	–6%
December 31, 2016:
Impaired loans	Third Party Appraisals	Adjustment for differences between the comparable sales	–2% to 0%	–1%

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at December 31, 2017
	Carrying Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	22,219	$	22,219	$	-	$	-	$	22,219
Securities available-for-sale		17,494		1,976		15,518		-		17,494
Loans receivable held for sale		22,370		-		22,626		-		22,626
Loans receivable held for investment		334,851		-		-		333,231		333,231
Accrued interest receivable		1,073		58		91		924		1,073
Federal Home Loan Bank stock		2,916		2,916		-		-		2,916
Financial Liabilities:
Deposits	$	291,290	$	-	$	280,761	$	-	$	280,761
Federal Home Loan Bank advances		65,000		-		64,887		-		64,887
Junior subordinated debentures		5,100		-		-		4,503		4,503
Accrued interest payable		304		-		296		8		304

			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