Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022:	Fair		Assets		Inputs		Inputs
(in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Mortgage-Backed Securities
FHLMC	$	2,426	$	—	$	2,426	$	—
SBA 7a Pools		2,165		—		2,165		—
Total Investment Securities	$	4,591	$	—	$	4,591	$	—

	Fair Value at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
			for Identical		Observable		Unobservable
December 31, 2021:	Fair		Assets		Inputs		Inputs
(in thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Mortgage-Backed Securities
FHLMC	$	2,767	$	—	$	2,767	$	—
SBA 7a Pools		2,562		—		2,562		—
Total Investment Securities	$	5,329	$	—	$	5,329	$	—

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

	March 31, 2022				December 31, 2021
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial Assets:
Cash and Cash Equivalents	$	3,755	$	3,755	$	7,316	$	7,316
Interest-Bearing Deposits in Banks		7,486		7,486		7,742		7,742
Investment Securities		4,591		4,591		5,329		5,329
Loans - Net		76,782		71,331		75,943		77,483
Loans Held-for-Sale		1,203		1,203		401		401
Accrued Interest Receivable		394		394		421		421
FHLB Stock		1,450		1,450		1,448		1,448
Cash Surrender Value of Life Insurance		4,246		4,246		4,225		4,225
Financial Liabilities:
Deposits		59,905		57,751		60,963		60,756
Advances from FHLB		18,225		17,908		18,218		18,622
Accrued Interest Payable		37		37		51		51