Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019:
Securities available-for-sale - federal agency mortgage-backed	$	—	$	8,410	$	—	$	8,410
Securities available-for-sale - federal agency debt		2,000		3,261		—		5,261
At December 31, 2018:
Securities available-for-sale - federal agency mortgage-backed	$	—	$	9,508	$	—	$	9,508
Securities available-for-sale - federal agency debt		1,979		3,235		—		5,214

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

	September 30, 2019		December 31, 2018
	(In thousands)
Impaired loans carried at fair value of collateral	$	389	$	591
Real estate owned		—		833

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In thousands)
Real estate owned - church	$	—	$	—	$	13	$	45
Total	$	—	$	—	$	13	$	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, 2019:
Impaired loans	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	-3% to 0%	-2.17%
Real estate owned - church	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	0%	0%
December 31, 2018:
Impaired loans	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	-3% to -1%	-2.83%
Real estate owned - church	Third Party	Adjustment for differences
	Appraisals	between the comparable sales	-11%	-10.85%

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at September 30, 2019
	Carrying
	Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for sale	$	8,175	$	—	$	8,175	$	—	$	8,175
Loans receivable held for investment		354,800		—		—		356,465		356,465
Financial Liabilities:
Time Deposits	$	177,334	$	—	$	177,547	$	—	$	177,547
Federal Home Loan Bank advances		75,000		—		76,218		—		76,218
Junior subordinated debentures		4,590		—		—		3,973		3,973

			Fair Value Measurements at December 31, 2018
	Carrying
	Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for sale	$	6,231	$	—	$	6,270	$	—	$	6,270
Loans receivable held for investment		355,556		—		—		354,792		354,792
Financial Liabilities:
Time Deposits	$	172,564	$	—	$	171,725	$	—	$	171,725
Federal Home Loan Bank advances		70,000		—		69,933		—		69,933
Junior subordinated debentures		5,100		—		—		4,481		4,481