Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Fair Values of Financial Instruments

Summary of assets measured on a recurring basis

	Fair Value at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
			for Identical		Observable		Unobservable
September 30, 2019:	Fair		Assets		Inputs		Inputs
(in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Mortgage-Backed Securities
FHLMC	$	3,383	$	—	$	3,383	$	—
FNMA		170		—		170		—
GNMA		538		—		538		—
SBA 7a Pools		2,732		—		2,732		—
Total Investment Securities	$	6,823	$	—	$	6,823	$	—

	Fair Value at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
			for Identical		Observable		Unobservable
December 31, 2018:	Fair		Assets		Inputs		Inputs
(in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Mortgage-Backed Securities
FHLMC	$	3,022	$	—	$	3,022	$	—
FNMA		230		—		230		—
GNMA		620		—		620		—
SBA 7a Pools		1,909		—		1,909		—
Total Investment Securities	$	5,781	$	—	$	5,781	$	—

Summary of estimated fair values of the Homestead’s financial instruments

	September 30, 2019				December31, 2018
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial Assets:
Cash and Cash Equivalents	$	9,621	$	9,621	$	3,090	$	3,090
Interest-Bearing Deposits		1,998		1,998		750		750
Investment Securities		6,823		6,823		5,781		5,781
Loans - Net		80,520		84,025		81,072		81,442
Loans Held-for-Sale		2,702		2,702		533		533
Accrued Interest Receivable		337		337		337		337
FHLB Stock		1,408		1,408		1,376		1,376
Cash Surrender Value of Life Insurance		4,020		4,020		3,950		3,950
Financial Liabilities:
Deposits		58,340		59,344		56,183		55,507
Advances from FHLB		23,584		24,131		26,030		25,907
Accrued Interest Payable		790		790		136		136