Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Measurements [Abstract]

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

	Fair Value Measurements at Reporting Date Using
					Significant		Significant
					Other Observable		Unobservable
					Inputs		Inputs
(In thousands)	Total		Level 1		Level 2		Level 3
September 30, 2020
State and municipal securities	$	10,830	$	—	$	10,830	$	—
Asset-backed securities		5,025		—		5,025		—
Mortgage-backed securities		18,566		—		18,566		—
Totals	$	34,421	$	—	$	34,421	$	—
December 31, 2019
State and municipal securities	$	11,206	$	—	$	11,206	$	—
Asset-backed securities		5,500		—		5,500		—
Mortgage-backed securities		25,084		—		25,084		—
Totals	$	41,790	$	—	$	41,790	$	—

Schedule of Assets Measured at Fair Value on a Nonrecurring Basis

	Fair Value Measurements at Reporting Date Using:
			Quoted Prices in		Significant		Significant
			Active Markets for		Other Observable		Unobservable
			Identical Assets		Inputs		Inputs
(In thousands)	Total		Level 1		Level 2		Level 3
September 30, 2020
Impaired loans
Commercial real estate	$	158	$	—	$	—	$	158
Commercial		3,751		—		—		3,751
Totals	$	3,909	$	—	$	—	$	3,909
December 31, 2019
Impaired loans
Commercial real estate	$	215	$	—	$	—	$	215
Commercial		1,805		—		—		1,805
Totals	$	2,020	$	—	$	—	$	2,020

Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis

(In thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
September 30, 2020
Impaired loans
Commercial real estate	$	158	Real estate appraisals	Discount for dated appraisals	6 - 10%
Commercial		3,751	Business valuation	Comparable company evaluations	—
December 31, 2019
Impaired loans
Commercial real estate	$	215	Real estate appraisals	Discount for dated appraisals	6 - 10%
Commercial		1,805	Business valuation	Comparable company evaluations	—

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading

	Carrying		Fair Value
(In thousands)	Amount		Level 1		Level 2		Level 3		Total
September 30, 2020
Financial assets:
Cash and cash equivalents	$	47,444	$	47,444	$	—	$	—	$	47,444
Available-for-sale debt securities		34,421		—		34,421		—		34,421
Federal Home Loan Bank of Boston stock		895		N/A		N/A		N/A		N/A
Loans, net		1,341,341		—		—		1,352,938		1,352,938
Accrued interest receivable		6,118		—		6,118		—		6,118
Financial liabilities:
Deposits		1,168,234		—		1,168,962		—		1,168,962
Borrowings		73,500		—		74,132		—		74,132
December 31, 2019
Financial assets:
Cash and cash equivalents	$	59,658	$	59,658	$	—	$	—	$	59,658
Available-for-sale debt securities		41,790		—		41,790		—		41,790
Federal Home Loan Bank of Boston stock		1,416		N/A		N/A		N/A		N/A
Loans, net		959,286		—		—		958,270		958,270
Accrued interest receivable		2,854		—		2,854		—		2,854
Financial liabilities:
Deposits		849,905		—		850,774		—		850,774
Borrowings		24,998		—		25,351		—		25,351