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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The tables below present the balances of assets and liabilities measured at fair value on a recurring basis (there were no transfers between Level 1, Level 2 and Level 3 recurring measurements during the periods presented):
 December 31, 2022
 Fair Value MeasurementsQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
 (In thousands)
Available-for-sale investments:    
Mortgage-backed investments:    
Fannie Mae$9,940 $— $9,940 $— 
Freddie Mac11,889 736 11,153 — 
Ginnie Mae27,843 — 27,843 — 
Other32,389 — 32,389 — 
Municipal bonds30,883 — 30,883 — 
U.S. Government agencies74,354 38,450 35,904 — 
Corporate bonds30,480 — 30,480 — 
Total available-for-sale investments$217,778 $39,186 $178,592 $— 
Derivative fair value asset$10,485 $— $10,485 $— 
Total$228,263 $39,186 $189,077 $— 
 December 31, 2021
 Fair Value MeasurementsQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
 (In thousands)
Available-for-sale investments:    
Mortgage-backed investments:    
Fannie Mae$12,978 $— $12,978 $— 
Freddie Mac12,824 744 12,080 — 
Ginnie Mae23,687 — 23,687 — 
Other11,264 3,023 8,241 — 
Municipal bonds36,466 — 36,466 — 
U.S. Government agencies41,434 — 41,434 — 
Corporate bonds30,295 — 30,295 — 
Total available-for-sale investments$168,948 $3,767 $165,181 $— 
Derivative fair value asset$1,491 $— $1,491 $— 
Total$170,439 $3,767 $166,672 $— 
Schedule of balances of assets and liabilities, measured at fair value on a non-recurring basis The tables below present the balances of assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2022, and 2021. 
 December 31, 2022
Fair Value
Measurements
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
 (In thousands)
Impaired loans (included in loans receivable, net)(1)
$48,521 $— $— $48,521 
        Total$48,521 $— $— $48,521 
_______________ 
(1) Total value of impaired loans is net of $13,000 of specific reserves on performing TDRs.
 December 31, 2021
Fair Value
Measurements
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
 (In thousands)
Impaired loans (included in loans receivable, net)(1)
$36,118 $— $— $36,118 
        Total$36,118 $— $— $36,118 
________________ 
(1) Total value of impaired loans is net of $20,000 of specific reserves on performing TDR
Schedule of quantitative information about Level 3 Fair Value Measurements on a nonrecurring basis The following tables present quantitative information about Level 3 fair value measurements for financial assets measured at fair value on a nonrecurring basis at December 31, 2022 and 2021.
December 31, 2022
Fair ValueValuation Technique(s)Unobservable Input(s)Range (Weighted Average Change in Fair Value)
(Dollars in thousands)
Impaired Loans (1)
$48,521 Market approachAppraised value of collateral discounted by expected selling costs
0.0% - 6.91%
(0.06%)
_______________ 
(1) Total value of impaired loans is net of $13,000 of specific reserves on performing TDRs.
December 31, 2021
Fair ValueValuation Technique(s)Unobservable Input(s)Range (Weighted Average Change in Fair Value)
(Dollars in thousands)
Impaired Loans (1)
$36,118 Market approachAppraised value of collateral discounted by expected selling costs
0.0% (0.00%)
________________ 
(1) Total value of impaired loans is net of 20,000 of specific reserves on performing TDRs.
Fair Value, by Balance Sheet Grouping The carrying amounts and estimated fair values of financial instruments at December 31, 2022, and 2021, were as follows: 
 December 31, 2022Fair Value Measurements Using:
 Carrying ValueEstimated Fair ValueLevel 1Level 2Level 3
 (In thousands)
Financial Assets:   
Cash on hand and in banks7,722 $7,722 $7,722 $— $— 
Interest-earning deposits16,598 16,598 16,598 — — 
Investments available-for-sale217,778 217,778 39,186 178,592 — 
Investments held-to-maturity2,444 2,444 — 2,444 — 
Loans receivable, net1,167,083 1,120,403 — — 1,120,403 
FHLB stock7,512 7,512 — 7,512 — 
Accrued interest receivable6,513 6,513 — 6,513 — 
Derivative fair value asset10,485 10,485 — 10,485 — 
Financial Liabilities:  
Deposits782,600 782,600 782,600 — — 
Certificates of deposit, retail262,554 254,004 — 254,004 — 
Brokered deposits124,886 124,843 124,843 
Advances from the FHLB145,000 144,999 — 144,999 — 
Accrued interest payable328 328 — 328 — 
 December 31, 2021Fair Value Measurements Using:
 Carrying ValueEstimated Fair ValueLevel 1Level 2Level 3
 (In thousands)
Financial Assets:    
Cash on hand and in banks$7,246 $7,246 $7,246 $— $— 
Interest-earning deposits66,145 66,145 66,145 — — 
Investments available-for-sale168,948 168,948 3,767 165,181 — 
Investments held-to-maturity2,432 2,432 — 2,432 — 
Loans receivable, net1,103,461 1,109,887 — — 1,109,887 
FHLB stock5,465 5,465 — 5,465 — 
Accrued interest receivable5,285 5,285 — 5,285 — 
Derivative fair value asset1,491 1,491 — 1,491 — 
Financial Liabilities:  
Deposits863,347 863,347 863,347 — — 
Certificates of deposit, retail294,127 295,929 — 295,929 — 
Advances from the FHLB95,000 95,003 — 95,003 — 
Accrued interest payable112 112 — 112 —