Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Measurements [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

	Fair Value Measurements at Reporting Date Using
					Significant		Significant
					Other Observable		Unobservable
					Inputs		Inputs
(In thousands)	Total		Level 1		Level 2		Level 3
September 30, 2022
State and municipal securities	$	10,839	$	—	$	10,839	$	—
Asset-backed securities		6,488		—		6,488		—
Government mortgage-backed securities		11,841		—		11,841		—
Totals	$	29,168	$	—	$	29,168	$	—
December 31, 2021
State and municipal securities	$	12,591	$	—	$	12,591	$	—
Asset-backed securities		8,255		—		8,255		—
Government mortgage-backed securities		15,991		—		15,991		—
Totals	$	36,837	$	—	$	36,837	$	—

Schedule of Assets Measured at Fair Value on a Nonrecurring Basis

	Fair Value Measurements at Reporting Date Using:
			Quoted Prices in		Significant		Significant
			Active Markets for		Other Observable		Unobservable
			Identical Assets		Inputs		Inputs
(In thousands)	Total		Level 1		Level 2		Level 3
September 30, 2022
Impaired loans
Commercial	$	18,260	$	—	$	—	$	18,260
Other repossessed assets		10,451		—		—		10,451
Totals	$	28,711	$	—	$	—	$	28,711
December 31, 2021
Impaired loans
Commercial	$	361	$	—	$	—	$	361
Totals	$	361	$	—	$	—	$	361

Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis

(In thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
September 30, 2022
Impaired loans
Commercial	$	18,260	Business or collateral valuation	Comparable company or collateral evaluations	0% - 28%
Other repossessed assets		10,451	Asset valuation	Comparable asset evaluations	2% - 5%
December 31, 2021
Impaired loans
Commercial	$	361	Business valuation	Comparable company evaluations	0% - 24%

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading

	Carrying		Fair Value
(In thousands)	Amount		Level 1		Level 2		Level 3		Total
September 30, 2022
Financial assets:
Cash and cash equivalents	$	155,914	$	155,914	$	—	$	—	$	155,914
Available-for-sale debt securities		29,168		—		29,168		—		29,168
Federal Home Loan Bank of Boston stock		3,413		N/A		N/A		N/A		N/A
Loans, net		1,478,451		—		—		1,412,615		1,412,615
Accrued interest receivable		5,973		—		5,973		—		5,973
Other repossessed assets		10,451		—		—		10,451		10,451
Financial liabilities:
Deposits		1,471,509		—		1,471,535		—		1,471,535
Borrowings		80,500		—		80,070		—		80,070
December 31, 2021
Financial assets:
Cash and cash equivalents	$	153,115	$	153,115	$	—	$	—	$	153,115
Available-for-sale debt securities		36,837		—		36,837		—		36,837
Federal Home Loan Bank of Boston stock		785		N/A		N/A		N/A		N/A
Loans and loans held for sale, net		1,456,649		—		—		1,468,013		1,468,013
Accrued interest receivable		5,703		—		5,703		—		5,703
Financial liabilities:
Deposits		1,459,895		—		1,459,841		—		1,459,841
Borrowings		13,500		—		13,698		—		13,698