Fair Value (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value

Summary of assets measured at fair value on a recurring basis

	Fair Value Measurement
	Quoted Prices
	in Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
At December 31, 2019:
Securities available-for-sale – federal agency mortgage-backed	$	—	$	7,956	$	—	$	7,956
Securities available-for-sale – federal agency debt		—		3,050		—		3,050
At December 31, 2018:
Securities available-for-sale – federal agency mortgage-backed	$	—	$	9,508	$	—	$	9,508
Securities available-for-sale – federal agency debt		1,979		3,235		—		5,214

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

	December 31, 2019		December 31, 2018
	(In thousands)
Impaired loans carried at fair value of collateral	$	130	$	591
Real estate owned		—		833

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

	For the year ended December 31,
	2019			2018
	(In thousands)
Impaired loans carried at fair value of collateral	$	—	$	—
Real estate owned		—		45
Total	$	—	$	45

Schedule of carrying amounts and estimated fair values of financial instruments

	Carrying		Fair Value Measurements at December 31, 2019
	Value		Level 1		Level 2		Level 3		Total
		(In thousands)
Financial Assets:
Cash and cash equivalents	$	15,566	$	15,566	$	—	$	—	$	15,566
Securities available-for-sale		11,006		—		11,006		—		11,006
Loans receivable held for investment (1)		397,847		—		—		404,923		404,923
Accrued interest receivable		1,223		69		22		1,132		1,223
Financial Liabilities:
Deposits	$	297,724	$	—	$	289,629	$	—	$	289,629
Federal Home Loan Bank advances		84,000		—		84,997		—		84,997
Junior subordinated debentures		4,335		—		—		3,734		3,734
Accrued interest payable		384		—		377		7		384

	Carrying		Fair Value Measurements at December 31, 2018
	Value		Level 1		Level 2		Level 3		Total
		(In thousands)
Financial Assets:
Cash and cash equivalents	$	16,651	$	16,651	$	—	$	—	$	16,651
Securities available-for-sale		14,722		1,979		12,743		—		14,722
Loans receivable held for sale		6,231		—		6,270		—		6,270
Loans receivable held for investment		355,556		—		—		354,792		354,792
Accrued interest receivable		1,143		78		43		1,022		1,143
Financial Liabilities:
Deposits	$	281,414	$	—	$	269,418	$	—	$	269,418
Federal Home Loan Bank advances		70,000		—		69,933		—		69,933
Junior subordinated debentures		5,100		—		—		4,481		4,481
Accrued interest payable		334		—		324		10		334

(1) The estimated value of loans held for investment at December 31, 2019 and 2018 reflect an exit price assumption.