Fair Value (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2017:
Securities available-for-sale - federal agency mortgage-backed	$	-	$	9,485	$	-	$	9,485
Securities available-for-sale - federal agency debt	1,989		-		-		1,989
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

	September 30, 2017		December 31, 2016
	(In thousands)
Impaired loans carried at fair value of collateral	$	796	$	1,744
Real estate owned		958		-

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
September 30, 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 September 30, 2017
	Carrying Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	68,345	$	68,345	$	-	$	-	$	68,345
Securities available-for-sale	11,474		1,989		9,485		-		11,474
Loans receivable held for sale	22,521		-		22,910		-		22,910
Loans receivable held for investment	320,522		-		-		319,012		319,012
Accrued interest receivable	1,113		63		89		961		1,113
Federal Home Loan Bank stock	2,916		2,916		-		-		2,916
Financial Liabilities:
Deposits	$	294,920	$	-	$	286,025	$	-	$	286,024
Federal Home Loan Bank advances	86,000		-		86,238		-		86,268
Junior subordinated debentures	5,100		-		-		4,481		4,481
Accrued interest payable	283		-		277		6		283
			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