Fair Value (Tables)

9 Months Ended

Sep. 30, 2018

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 September 30, 2018:
Securities available-for-sale –federal agency mortgage-backed	$	—	$	9,992	$	—	$	9,992
Securities available-for-sale – federal agency debt		1,972		3,279		—		5,251
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

	September 30, 2018		December 31, 2017
	(In thousands)
Impaired loans carried at fair value of collateral	$	631	$	742
Real estate owned		833		878

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

	Three Months Ended				Nine Months Ended
	September 30,				September 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			Weighted
	Technique(s)	Unobservable Input(s)	Range	Average
September 30, 2018:
Impaired loans	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	-3% to -1%	-2.67%
Real estate owned – church	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	-11%	-10.85%
December 31, 2017:
Impaired loans	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	-16% to 7%	-4%
Real estate owned – church	Third Party	Adjustment for differences
	Appraisals	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 September 30, 2018
	Carrying
	Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for sale	$	19,087	$	—	$	19,217	$	—	$	19,217
Loans receivable held for investment		358,455		—		—		352,475		352,475
Financial Liabilities:
Time Deposits	$	168,556	$	—	$	167,453	$	—	$	167,453
Federal Home Loan Bank advances		82,000		—		81,370		—		81,370
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