Fair Value (Tables)

6 Months Ended

Jun. 30, 2018

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 June 30, 2018:
Securities available-for-sale – federal agency mortgage-backed	$	-	$	10,692	$	-	$	10,692
Securities available-for-sale – federal agency debt	1,970		3,315		-		5,285
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

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

	June 30, 2018		December 31, 2017
	(In thousands)
Impaired loans carried at fair value of collateral	$	667	$	742
Real estate owned		833		878

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(In thousands)
Impaired loans carried at fair value of collateral	$	-	$	-	$	-	$	-
Real estate owned – church	45		-		45		-
Total	$	45	$	-	$	45	$	-

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
June 30, 2018:
Impaired loans	Third Party Appraisals	Adjustment for differences between the comparable sales	-3% to 7%	-0.39%
Real estate owned – church	Third Party Appraisals	Adjustment for differences between the comparable sales	-6%	-5.69%
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%

Schedule of carrying amount, fair values and placement in the fair value hierarchy of financial instruments

			Fair Value Measurements at June 30, 2018
	Carrying Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for sale	$	1,079	$	-	$	1,074	$	-	$	1,074
Loans receivable held for investment	368,991		-		-		365,379		365,379
Financial Liabilities:
Time Deposits	$	159,596	$	-	$	158,325	$	-	$	158,325
Federal Home Loan Bank advances	84,000		-		83,525		-		83,525
Junior subordinated debentures	5,100		-		4,503		-		4,503

			Fair Value Measurements at December 31, 2017
	Carrying Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for sale	$	22,370	$	-	$	22,626	$	-	$	22,626
Loans receivable held for investment	334,851		-		-		333,231		333,231
Financial Liabilities:
Time Deposits	$	150,789	$	-	$	150,240	$	-	$	150,240
Federal Home Loan Bank advances	65,000		-		64,887		-		64,887
Junior subordinated debentures	5,100		-		-		4,503		4,503