Fair Value (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value

Summary of assets measured at fair value on recurring basis

	Fair Value Measurements at September 30, 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	$	-	$	12,322	$	-	$	12,322
Securities available-for-sale - U.S. Government and federal agency	2,014		-		-		2,014

	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

	September 30, 2016		December 31, 2015
	(In thousands)
Impaired loans carried at fair value of collateral	$	1,806	$	2,557
Real estate owned	-		360

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

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of September 30, 2016:

	Valuation Technique(s)	Unobservable Input(s)	Range	Weighted Average
Impaired loans	Third Party Appraisals	Adjustment for differences between the comparable sales	-3% to 4%	0%

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at September 30, 2016
	Carrying Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	38,281	$	38,281	$	-	$	-	$	38,281
Securities available-for-sale	14,336		2,014		12,322		-		14,336
Loans receivable held for investment	344,733		-		-		348,823		348,823
Accrued interest receivable	1,100		72		31		997		1,100
Federal Home Loan Bank stock	2,573		2,573		-		-		2,573
Financial Liabilities:
Deposits	$	285,098	$	-	$	280,513	$	-	$	280,513
Federal Home Loan Bank advances	70,000		-		71,156		-		71,156
Junior subordinated debentures	5,100		-		-		4,392		4,392
Accrued interest payable	80		-		74		6		80

			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