Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

	Fair Value Measurements Using
	Quoted Prices In Active Markets For Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)
	(In thousands)
March 31, 2020
Assets
Available-for-sale securities
Mortgage-backed securities – agency	$	—	$	24,694	$	—
CMO’s – agency		—		113,431		—
Total	$	—	$	138,125	$	—
December 31, 2019
Assets
Available-for-sale securities
Mortgage-backed securities – agency	$	—	$	25,037	$	—
CMO’s – agency		—		121,382		—
Total	$	—	$	146,419	$	—

Schedule of carrying amounts and fair values of financial instruments

	Fair Value Measurement at March 31, 2020, Using:
	Carrying
	Value		(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	70,379	$	1,605	$	68,774	$	—	$	70,379
Securities available-for-sale		138,125		—		138,125		—		138,125
Securities, restricted, at cost		2,665		N/A		N/A		N/A		N/A
Loans, net		581,519		—		—		582,948		582,948
Accrued interest receivable		3,309		—		369		2,940		3,309
Financial Liabilities:
Time deposits		19,692		—		19,833		—		19,833
Demand and other deposits		678,138		678,138		—		—		678,138
Secured borrowings		85		—		85		—		85
Accrued interest payable		12		—		12		—		12

	Fair Value Measurement at December 31, 2019, Using:
	Carrying
	Value		(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	61,806	$	669	$	61,007	$	—	$	61,676
Securities available-for-sale		146,419		—		146,419		—		146,419
Securities, restricted, at cost		2,665		N/A		N/A		N/A		N/A
Loans, net		558,380		—		—		560,859		560,859
Accrued interest receivable		3,242		—		386		2,856		3,242
Financial Liabilities:
Time deposits		19,746		—		19,763		—		19,763
Demand and other deposits		660,874		660,874		—		—		660,874
Secured borrowings		86		—		86		—		86
Accrued interest payable		12		—		12		—		12