Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of estimated fair values of financial instruments

	Carrying				Fair Value Measurements Using
(Dollars in thousands)	Amount		Fair Value		Level 1		Level 2		Level 3
December 31, 2019
Assets
Cash and cash equivalents	$	44,806	$	44,806	$	44,806	$	—	$	—
Investment securities available for sale		8,628		8,628		—		8,628		—
Investment securities held to maturity		363,883		371,305		—		371,305		—
Loans held for sale		470		480		—		480		—
Loans receivable, net		1,584,784		1,627,903		—		—		1,627,903
FHLB stock		8,723		8,723		—		8,723		—
FRB stock		3,128		3,128		—		3,128		—
Accrued interest receivable		5,409		5,409		32		952		4,425
Interest rate contracts		5		5		—		5		—
Liabilities
Deposits		1,631,933		1,632,741		—		1,167,990		464,751
Advances from the Federal Home Loan Bank		156,000		156,906		—		156,906		—
Securities sold under agreements to repurchase		10,000		9,968		—		9,968		—
Accrued interest payable		397		397		—		47		350
Interest rate contracts		5		5		—		5		—
December 31, 2018
Assets
Cash and cash equivalents	$	47,063	$	47,063	$	47,063	$	—	$	—
Investment securities available for sale		2,560		2,560		—		2,560		—
Investment securities held to maturity		371,517		364,922		—		364,219		703
Loans held for sale		309		319		—		319		—
Loans receivable, net		1,574,714		1,553,672		—		—		1,553,672
FHLB stock		8,093		8,093		—		8,093		—
FRB stock		3,114		3,114		—		3,114		—
Accrued interest receivable		5,274		5,274		12		960		4,302
Interest rate contracts		5		5		—		5		—
Liabilities
Deposits		1,629,164		1,626,587		—		1,238,023		388,564
Advances from the Federal Home Loan Bank		142,200		141,874		—		141,874		—
Securities sold under agreements to repurchase		30,000		29,876		—		29,876		—
Accrued interest payable		243		243		—		111		132
Interest rate contracts		5		5		—		5		—

Schedule of assets and liabilities measured at fair value on a recurring basis

(Dollars in thousands)	Level 1		Level 2		Level 3		Total
December 31, 2019
Interest rate contracts — assets	$	—	$	5	$	—	$	5
Interest rate contracts — liabilities		—		(5)		—		(5)
Investment securities available for sale		—		8,628		—		8,628
December 31, 2018
Interest rate contracts — assets	$	—	$	5	$	—	$	5
Interest rate contracts — liabilities		—		(5)		—		(5)
Investment securities available for sale		—		2,560		—		2,560

Schedule of Significant unobservable inputs for Level 3 nonrecurring fair value measurements

				Unobservable
(Dollars in thousands)	Fair Value		Valuation Technique	Input	Value
December 31, 2019:
Mortgage servicing assets	$	452	Discounted cash flow	Discount rate		10.25%
				Prepayment speed (CPR)		9.11 - 13.06
				Annual cost to service (per loan, in dollars)	$	75

Fair Value, Measurements, Nonrecurring

Schedule of balance of assets measured at fair value on a nonrecurring basis

	Fair Value
(Dollars in thousands)	Adjustment Date	Level 1		Level 2		Level 3		Total			Total Losses
December 31, 2019
Mortgage servicing assets	9/30/2019	$	—	$	—	$	452	$	452	$	(16)