Fair Value Accounting and Measurement (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

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

The following tables show the Company’s assets and liabilities measured at fair value on a recurring basis at the dates indicated:

	December 31, 2019
	Quoted Prices in Active Markets for Identical Assets  or Liabilities		Significant Other Observable  Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
Securities available for sale
Municipal bonds	$	—	$	39,282	$	—	$	39,282
ABS agency	—		28,858		—		28,858
ABS corporate	—		40,855		—		40,855
SBA	—		9,643		—		9,643
Corporate debt	—		28,459		—		28,459
MBS agency	—		160,167		—		160,167
MBS corporate	—		8,316		—		8,316
	$	—	$	315,580	$	—	$	315,580

	December 31, 2018
	Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
	(In thousands)
Securities available for sale
Municipal bonds	$	—	$	869	$	—	$	869
ABS agency	—		25,752		—		25,752
ABS corporate	—		36,723		—		36,723
SBA	—		9,888		—		9,888
Corporate debt	—		35,670		—		35,670
MBS agency	—		143,455		—		143,455
MBS corporate	—		10,610		—		10,610
	$	—	$	262,967	$	—	$	262,967

Schedule of assets measured at fair value on a nonrecurring basis

The following tables present the Company’s assets measured at fair value on a nonrecurring basis at the dates indicated:

	December 31, 2019
	Level 1		Level 2		Level 3		Total
	(In thousands)
Impaired loans	$	—	$	—	$	6,389	$	6,389
Real estate owned and repossessed assets	—		—		154		154
	$	—	$	—	$	6,543	$	6,543
	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(In thousands)
Impaired loans	$	—	$	—	$	6,558	$	6,558
Real estate owned and repossessed assets	—		—		124		124
	$	—	$	—	$	6,682	$	6,682

Schedule of valuation techniques to value assets measured at fair value

The following tables present the techniques used to value assets measured at fair value on a nonrecurring basis at the dates indicated:

	December 31, 2019
	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted-Average)1
	(In thousands)
Real estate owned and repossessed assets	$	154	Market comparable	Discount to appraisal	0% - 10% (5%)

¹ Discount to appraisal disposition value.

	December 31, 2018
	Fair Value	Valuation Technique	Unobservable Input	Range (Weighted-Average)1
	(In thousands)
Real estate owned and repossessed assets	124	Market comparable	Discount to appraisal	0% - 10% (5%)

¹  Discount to appraisal disposition value.

Schedule of the carrying value and estimated fair value of financial instruments

The following tables present the carrying value and estimated fair value of financial instruments at the dates indicated:

	December 31, 2019
	Carrying Amount		Estimated Fair Value		Fair Value Measurements Using:
					Level 1		Level 2		Level 3
	(In thousands)
Financial assets
Cash and cash equivalents	$	48,739	$	48,739	$	48,739	$	—	$	—
Investment securities available for sale	315,580		315,580		—		315,580		—
Loans held for sale	503		503		—		503		—
Loans receivable, net	878,437		858,101		—		—		858,101
FHLB stock	6,034		6,034		—		6,034		—
Accrued interest receivable	3,931		3,931		—		3,931		—
Mortgage servicing rights, net	871		1,486		—		—		1,486
Financial liabilities
Demand deposits	$	693,565	$	693,565	$	693,565	$	—	$	—
Time deposits	308,080		308,819		—		308,819		—
Borrowings	112,930		113,076		—		113,076		—
Accrued interest payable	373		373		—		373		—

	December 31, 2018
	Carrying Amount		Estimated Fair Value		Fair Value Measurements Using:
					Level 1		Level 2		Level 3
	(In thousands)
Financial assets
Cash and cash equivalents	$	26,323	$	26,323	$	26,323	$	—	$	—
Investment securities available for sale	262,967		262,967		—		262,967		—
Investment securities held to maturity	43,503		42,990		—		42,990		—
Loans receivable, net	863,852		840,861		—		—		840,861
FHLB stock	6,927		6,927		—		6,927		—
Accrued interest receivable	4,048		4,048		—		4,048		—
Mortgage servicing rights, net	1,044		1,479		—		—		1,479
Financial liabilities
Demand deposits	$	678,908	$	678,908	$	678,908	$	—	$	—
Time deposits	261,352		259,549		—		259,549		—
Borrowings	136,552		137,153		—		137,153		—
Accrued interest payable	521		521		—		521		—