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Fair Value Measurements - (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on recurring basis The following tables show the recorded amounts of assets and liabilities measured at fair value on a recurring basis at June 30, 2020 and December 31, 2019:
 At June 30, 2020
(Dollars in thousands)TotalLevel 1Level 2Level 3
Assets at Fair Value:
Debt securities available for sale
Commercial mortgage backed securities issued by U.S. Agencies$8,953  $—  $8,953  $—  
Residential mortgage backed securities issued by U.S. agencies17,260  —  17,260  —  
Total debt securities available for sale at fair value$26,213  $—  $26,213  $—  
 
 At December 31, 2019
(Dollars in thousands)TotalLevel 1Level 2Level 3
Assets at Fair Value:
Debt securities available for sale
Commercial mortgage backed securities issued by U.S. Agencies$9,229  $—  $9,229  $—  
Residential mortgage backed securities issued by U.S. agencies19,115  —  19,115  —  
Total debt securities available for sale$28,344  $—  $28,344  $—  
Schedule of assets measured at fair value on nonrecurring basis Information regarding assets measured at fair value on a nonrecurring basis is set forth in the table below.
 At June 30, 2020At December 31, 2019
(Dollars in thousands)TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets at Fair Value:
Impaired loans$24,681  $—  $—  $24,681  $15,682  $—  $—  $15,682  
Other foreclosed assets663  —  663  —  164  —  164  —  
Total$25,344  $—  $663  $24,681  $15,846  $—  $164  $15,682  
Summary of significant unobservable inputs and valuation techniques For our fair value measurements classified in Level 3 of the fair value hierarchy as of June 30, 2020, a summary of the significant unobservable inputs and valuation techniques is as follows:
Fair Value Measurement as of June 30, 2020
Valuation Techniques(2)
Unobservable Inputs(2)
RangeWeighted Average
(Dollars in thousands)
Assets
Impaired loans$24,681  Third-Party PricingDiscounted cash flow
N/A (1)
N/A (1)
(1)As part of our process, we obtain appraisals for our various properties included within impaired loans which primarily rely upon market comparisons. These market comparisons support our assumption that the carrying value of the respective loans either requires or does not require additional impairment.
(2)As of June 30, 2020, there has been no change to our valuation techniques or the types of unobservable inputs used in the calculation of fair value from December 31, 2019.
Schedule of estimated fair values and amounts of financial instruments
The table below provides estimated fair values and related carrying amounts of our financial instruments as of June 30, 2020 and December 31, 2019, excluding financial assets and liabilities which are recorded at fair value on a recurring basis.
Estimated Fair Value
At June 30, 2020At December 31, 2019
Carrying ValueTotalLevel 1Level 2Level 3Carrying ValueTotalLevel 1Level 2Level 3
(Dollars in thousands)
Financial assets:
Cash and cash equivalents$259,029  $259,029  $259,029  $—  $—  $220,138  $220,138  220,138  —  —  
Interest-bearing deposits with financial institutions2,345  2,345  2,345  —  —  2,420  2,420  2,420  —  —  
Federal Reserve Bank of San Francisco and Federal Home Loan Bank stock7,910  7,910  7,910  —  —  7,910  7,910  7,910  —  —  
Loans, net1,350,800  1,355,702  —  —  1,355,702  1,117,511  1,120,096  —  —  1,120,096  
Accrued interest receivable5,429  5,429  5,429  —  —  4,095  4,095  4,095  —  —  
Financial liabilities:
Noninterest bearing deposits596,052  596,052  596,052  —  —  397,000  397,000  397,000  —  —  
Interest-bearing deposits832,474  835,150  —  835,150  —  802,570  803,549  —  803,549  —  
Borrowings73,962  74,088  —  74,088  —  30,000  29,974  —  29,974  —  
Junior subordinated debentures17,527  17,527  —  17,527  —  17,527  17,527  —  17,527  —  
Accrued interest payable288  288  288  —  —  398  398  398  —  —