| Information about Level in Fair Value Hierarchy for Financial Instruments |
The following tables present information about the level in the fair value hierarchy for the Company’s financial assets and liabilities, whether or not recognized or recorded at fair value as of September 30, 2019 and December 31, 2018 (in thousands): | | | | | | | | | | | | | | | | | | | | | | September 30, 2019 | | Fair Value Measurements Using: | | Carrying Value | | Estimated Fair Value | | Level 1 | | Level 2 | | Level 3 | FINANCIAL ASSETS: | | | | | | | | | | Cash and cash equivalents | $ | 58,873 |
| | $ | 58,873 |
| | $ | 58,873 |
| | $ | — |
| | $ | — |
| Available-for-sale securities | 7,841 |
| | 7,841 |
| | — |
| | 7,841 |
| | — |
| Loans held-for-sale | 1,644 |
| | 1,644 |
| | — |
| | 1,644 |
| | — |
| Loans held-for-portfolio | 607,285 |
| | 610,825 |
| | — |
| | — |
| | 610,825 |
| Mortgage servicing rights | 3,226 |
| | 3,226 |
| | — |
| | — |
| | 3,226 |
| FHLB stock | 1,358 |
| | 1,358 |
| | — |
| | 1,358 |
| | — |
| FINANCIAL LIABILITIES: | | | | | | | | | | Non-maturity deposits | 367,137 |
| | 367,137 |
| | — |
| | 367,137 |
| | — |
| Time deposits | 242,484 |
| | 245,878 |
| | — |
| | 245,878 |
| | — |
| Borrowings | 12,450 |
| | 12,450 |
| | — |
| | 12,450 |
| | — |
|
| | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | | Fair Value Measurements Using: | | Carrying Value | | Estimated Fair Value | | Level 1 | | Level 2 | | Level 3 | FINANCIAL ASSETS: | | | | | | | | | | Cash and cash equivalents | $ | 61,810 |
| | $ | 61,810 |
| | $ | 61,810 |
| | $ | — |
| | $ | — |
| Available-for-sale securities | 4,957 |
| | 4,957 |
| | — |
| | 4,957 |
| | — |
| Loans held-for-sale | 1,172 |
| | 1,172 |
| | — |
| | 1,172 |
| | — |
| Loans held-for-portfolio | 613,769 |
| | 613,371 |
| | — |
| | — |
| | 613,371 |
| Mortgage servicing rights | 3,414 |
| | 3,414 |
| | — |
| | — |
| | 3,414 |
| FHLB stock | 4,134 |
| | 4,134 |
| | — |
| | 4,134 |
| | — |
| FINANCIAL LIABILITIES: | | | | | | | | | | Non-maturity deposits | 361,776 |
| | 361,776 |
| | — |
| | 361,776 |
| | — |
| Time deposits | 191,825 |
| | 191,679 |
| | — |
| | 191,679 |
| | — |
| Borrowings | 84,000 |
| | 84,000 |
| | — |
| | 84,000 |
| | — |
|
|
| Schedule of Fair Value Measured on Recurring Basis |
The following tables present the balance of assets measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 (in thousands): | | | | | | | | | | | | | | | | | | Fair Value at September 30, 2019 | Description | Total | | Level 1 | | Level 2 | | Level 3 | Treasury bills | $ | 52 |
| | $ | 52 |
| | $ | — |
| | $ | — |
| Municipal bonds | 3,383 |
| | — |
| | 3,383 |
| | — |
| Agency mortgage-backed securities | 4,406 |
| | — |
| | 4,406 |
| | — |
| Mortgage servicing rights | 3,226 |
| | — |
| | — |
| | 3,226 |
|
| | | | | | | | | | | | | | | | | | Fair Value at December 31, 2018 | Description | Total | | Level 1 | | Level 2 | | Level 3 | Municipal bonds | $ | 3,317 |
| | $ | — |
| | $ | 3,317 |
| | $ | — |
| Agency mortgage-backed securities | 1,640 |
| | — |
| | 1,640 |
| | — |
| Mortgage servicing rights | 3,414 |
| | — |
| | — |
| | 3,414 |
|
|
| Schedule of Fair Value Measured on Nonrecurring Basis |
The following tables present the balance of assets measured at fair value on a nonrecurring basis at the dates indicated (in thousands): | | | | | | | | | | | | | | | | | | Fair Value at September 30, 2019 | | Total | | Level 1 | | Level 2 | | Level 3 | OREO and repossessed assets | $ | 1,069 |
| | $ | — |
| | $ | — |
| | $ | 1,069 |
| Impaired loans | 10,704 |
| | — |
| | — |
| | 10,704 |
|
| | | | | | | | | | | | | | | | | | Fair Value at December 31, 2018 | | Total | | Level 1 | | Level 2 | | Level 3 | OREO and repossessed assets | $ | 575 |
| | $ | — |
| | $ | — |
| | $ | 575 |
| Impaired loans | 5,838 |
| | — |
| | — |
| | 5,838 |
|
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