Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

(8) Fair Value of Financial Instruments.  The estimated fair values and fair value measurement method with respect to the Company’s financial instruments were as follows (in thousands):

	At June 30, 2016							At December 31, 2015
	Carrying Amount		Fair Value			Level		Carrying Amount		Fair Value			Level
Financial assets:
Cash and cash equivalents	$	13,664	$	13,664			1	$	10,365	$	10,365			1
Securities available for sale		23,322		23,322			2		25,749		25,749			2
Loans		79,410		79,525			3		82,573		82,429			3
Federal Home Loan Bank stock		1,017		1,017			3		966		966			3
Accrued interest receivable		350		350			3		462		462			3
Financial liabilities:
Deposit liabilities		92,141		92,411			3		97,571		97,837			3
Federal Home Loan Bank advances		20,500		20,565			3		20,000		20,000			3
Junior subordinated debenture		5,155		N/A	(1)		3		5,155		N/A	(1)		3
Off-balance sheet financial instruments		—		—			3		—		—			3

(1) The Company is unable to determine value based on significant unobservable inputs required in the calculation. Refer to Note 10 for further information.

Discussion regarding the assumptions used to compute the estimated fair values of financial instruments can be found in Note 1 to the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2015.