Fair Value Accounting and Measurement (Tables)

3 Months Ended

Mar. 31, 2020

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 measured at fair value on a recurring basis at the dates indicated:

	March 31, 2020
	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	$	—	$	52,254	$	—	$	52,254
ABS agency	—		42,125		—		42,125
ABS corporate	—		34,073		—		34,073
Corporate debt	—		9,439		—		9,439
SBA	—		25,363		—		25,363
MBS agency	—		145,139		—		145,139
MBS corporate	—		9,127		—		9,127
	$	—	$	317,520	$	—	$	317,520

	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
Corporate debt	—		9,643		—		9,643
SBA	—		28,459		—		28,459
MBS agency	—		160,167		—		160,167
MBS corporate	—		8,316		—		8,316
	$	—	$	315,580	$	—	$	315,580

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:

	March 31, 2020
	Level 1		Level 2		Level 3		Total
	(In thousands)
Impaired loans	$	—	$	—	$	6,303	$	6,303
	December 31, 2019
	Level 1		Level 2		Level 3		Total
	(In thousands)
Impaired loans	$	—	$	—	$	6,389	$	6,389

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:

	March 31, 2020
	Carrying Amount		Estimated Fair Value		Fair Value Measurements Using:
					Level 1		Level 2		Level 3
	(In thousands)
Financial assets
Cash and cash equivalents	$	107,164	$	107,164	$	107,164	$	—	$	—
Investment securities available for sale	317,520		317,520		—		317,520		—
Loans held for sale	4,531		4,531		—		4,531		—
Loans receivable, net	899,154		894,671		—		—		894,671
FHLB stock	7,581		7,581		—		7,581		—
Accrued interest receivable	4,124		4,124		—		4,124		—
Mortgage servicing rights, net	843		1,160		—		—		1,160
Financial liabilities
Demand deposits	$	705,228	$	705,228	$	705,228	$	—	$	—
Time deposits	358,677		361,726		—		361,726		—
Borrowings	150,021		151,073		—		151,073		—
Accrued interest payable	194		194		—		194		—

	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		—