Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31, 2020:
Securities available-for-sale - federal agency mortgage-backed	$	—	$	7,616	$	—	$	7,616
Securities available-for-sale - federal agency debt		—		3,090		—		3,090
At December 31, 2019:
Securities available-for-sale - federal agency mortgage-backed	$	—	$	7,956	$	—	$	7,956
Securities available-for-sale - federal agency debt		—		3,050		—		3,050

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

	March 31, 2020		December 31, 2019
	(In thousands)
Impaired loans carried at fair value of collateral	$	—	$	130

Schedule of carrying amounts and estimated fair values of financial instruments

			Fair Value Measurements at March 31, 2020
	Carrying
	Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for sale	$	45,481	$	—	$	45,481	$	—	$	45,481
Loans receivable held for investment		381,334		—		—		381,188		381,188
Financial Liabilities:
Time Deposits	$	182,973	$	—	$	183,942	$	—	$	183,942
Federal Home Loan Bank advances		115,000		—		119,019		—		119,019
Junior subordinated debentures		4,080		—		—		3,496		3,496

			Fair Value Measurements at December 31, 2019
	Carrying
	Value		Level 1		Level 2		Level 3		Total
	(In thousands)
Financial Assets:
Loans receivable held for investment	$	397,847	$	—	$	—	$	404,923	$	404,923
Financial Liabilities:
Time Deposits	$	190,235	$	—	$	190,353	$	—	$	190,353
Federal Home Loan Bank advances		84,000		—		84,997		—		84,997
Junior subordinated debentures		4,335		—		—		3,734		3,734