Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value

Summary of assets measured at fair value on a recurring basis

	Fair Value Measurements at March 31, 2017
	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	$	-	$	10,565	$	-	$	10,565
Securities available-for-sale - U.S. Government and federal agency	1,989		-		-		1,989
	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

Schedule of fair value measurement for all of these assets falls within Level 3 of the fair value hierarchy

	March 31, 2017		December 31, 2016
	(In thousands)
Impaired loans carried at fair value of collateral	$	1,683	$	1,744

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

	March 31, 2017
	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, 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%

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at March 31, 2017
	Carrying Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	27,209	$	27,209	$	-	$	-	$	27,209
Securities available-for-sale	12,554		1,989		10,565		-		12,554
Loans receivable held for sale	33,756		-		34,226		-		34,226
Loans receivable held for investment	361,738		-		-		364,723		364,723
Accrued interest receivable	1,170		71		28		1,071		1,170
Federal Home Loan Bank stock	2,835		2,835		-		-		2,835
Financial Liabilities:
Deposits	$	296,564	$	-	$	286,902	$	-	$	286,902
Federal Home Loan Bank advances	101,000		-		101,507		-		101,507
Junior subordinated debentures	5,100		-		-		4,436		4,436
Accrued interest payable	124		-		117		7		124

			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