Fair Value (Tables)

12 Months Ended

Dec. 31, 2017

Assets Measured at Fair Value on Recurring Basis

The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of December 31, 2017 and December 31, 2016, and indicate the level within the fair value hierarchy utilized to determine the fair value:

			December 31, 2017
Description	Total		Level 1		Level 2		Level 3
Available-for-Sale Securities:
U.S. government and federal agencies	$	24,552	$	—	$	24,552	$	—
Mortgage-Backed Securities:
FNMA Certificates		1,103		—		1,103		—
GNMA Certificates		3,242		—		3,242		—
	$	28,897	$	—	$	28,897	$	—

			December 31, 2016
Description	Total		Level 1		Level 2		Level 3
Available-for-Sale Securities:
U.S. government and federal agencies	$	41,559	$	—	$	41,559	$	—
Certificates of Deposit		500		—		500		—
Mortgage-Backed Securities:
FHLMC Certificates		216		—		216		—
FNMA Certificates		3,606		—		3,606		—
GNMA Certificates		6,809		—		6,809		—
	$	52,690	$	—	$	52,690	$	—

Assets Measured at Fair Value on Nonrecurring Basis

Our assessment and classification of an investment within a level can change over time based upon maturity or liquidity of the investment and would be reflected at the beginning of the quarter in which the change occurred.

The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of December 31, 2017 and December 31, 2016 and indicate the fair value hierarchy utilized to determine the fair value:

	December 31, 2017
	Total		Level 1		Level 2		Level 3
Impaired loans	$	25,160	$	—	$	—	$	25,160
Loans held for sale	$	—	$	—	$	—	$	—
Other real estate owned	$	—	$	—	$	—	$	—

	December 31, 2016
	Total		Level 1		Level 2		Level 3
Impaired loans	$	26,075	$	—	$	—	$	26,075
Loans held for sale	$	2,143	$	—	$	2,143	$	—
Other real estate owned	$	—	$	—	$	—	$	—

Estimated Fair Values of Financial Instruments

As of the years ended December 31, 2017 and 2016, the book balances and estimated fair values of the Company's financial instruments were as follows:

	Carrying		Fair Value Measurements
December 31, 2017	Amount		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	59,724	$	59,724	$	—	$	—	$	59,724
Investment securities		28,897		—		28,897		—		28,897
Loans receivable, net		798,703		—		—		813,160		813,160
Accrued interest receivable		3,335		—		3,335		—		3,335
FHLB stock		1,511		1,511		—		—		1,511
Pension plan asset		14,735		—		—		14,696		14,696
Financial liabilities:
Deposits:
Demand deposits		103,001		103,001		—		—		103,001
Interest-bearing deposits		200,923		200,923		—		—		200,923
Certificates of deposit		410,061		—		414,902		—		414,902
Advance payments by borrowers for taxes and insurance		5,025		—		5,025		—		5,025
Advances		36,400		36,400		—		—		36,400
Accrued interest payable		42		—		42		—		42

December 31, 2016
Financial assets:
Cash and cash equivalents	$	11,716	$	11,716	$	—	$	—	$	11,716
Investment securities		52,690		—		52,690		—		52,690
Loans held for sale		2,143		—		2,143		—		2,143
Loans receivable, net		642,148		—		—		660,706		660,706
Accrued interest receivable		2,707		—		2,707		—		2,707
FHLB stock		964		964		—		—		964
Pension plan asset		15,038		—		—		15,296		15,296
Financial liabilities:
Deposits:
Demand deposits		78,792		78,792		—		—		78,792
Interest-bearing deposits		195,565		195,565		—		—		195,565
Certificates of deposit		368,721		—		368,721		—		368,721
Advance payments by borrowers for taxes and insurance		3,882		—		3,882		—		3,882
Advances		3,000		3,000		—		—		3,000
Accrued interest payable		28		—		28		—		28