Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

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
March 31, 2020:	Fair		Assets		Inputs		Inputs
(in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Mortgage-Backed Securities
FHLMC	$	2,518	$	—	$	2,518	$	—
SBA 7a Pools		2,602		—		2,602		—
Total Investment Securities	$	5,120	$	—	$	5,120	$	—

	Fair Value at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
			for Identical		Observable		Unobservable
December 31, 2019:	Fair		Assets		Inputs		Inputs
(in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Mortgage-Backed Securities
FHLMC	$	2,645	$	—	$	2,645	$	—
SBA 7a Pools		2,675		—		2,675		—
Total Investment Securities	$	5,320	$	—	$	5,320	$	—

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

	March 31, 2020				December 31, 2019
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial Assets:
Cash and Cash Equivalents	$	13,950	$	13,950	$	11,875	$	11,875
Interest-Bearing Deposits		4,735		4,735		1,740		1,740
Investment Securities		5,120		5,120		5,320		5,320
Loans - Net		74,262		79,181		78,785		82,267
Loans Held-for-Sale		2,349		2,572		1,637		1,670
Accrued Interest Receivable		331		331		321		321
FHLB Stock		1,426		1,426		1,418		1,418
Cash Surrender Value of Life Insurance		4,067		4,067		4,044		4,044
Financial Liabilities:
Deposits		57,752		59,708		58,045		59,053
Advances from FHLB		23,597		24,640		21,581		22,007
Accrued Interest Payable		105		105		137		137