XML 41 R32.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value Disclosures (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures  
Schedule of carrying amount and estimated fair value of the Company's financial instrument

At March 31, 2022

Carrying

Fair

(In thousands)

    

Amount

    

Level 1

    

Level 2

    

Level 3

    

Value

Financial assets:

 

  

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

23,667

$

23,667

$

$

$

23,667

Interest-bearing time deposits in banks

650

650

650

Securities available-for-sale

 

36,078

 

 

33,573

 

2,505

 

36,078

Securities held-to-maturity

 

1,064

 

 

1,075

 

 

1,075

Equity securities

 

338

 

338

 

 

 

338

Loans receivable

 

274,485

 

 

 

278,475

 

278,475

FHLB stock

 

1,335

 

 

1,335

 

 

1,335

Accrued interest receivable

 

1,274

 

1,274

 

 

 

1,274

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Deposits

$

314,911

$

91,989

$

$

218,832

$

310,821

Long-term borrowings

 

15,978

 

 

19,355

 

 

19,355

Accrued interest payable

 

40

 

40

 

 

 

40

At December 31, 2021

Carrying

Fair

(In thousands)

    

Amount

    

Level 1

    

Level 2

    

Level 3

    

Value

Financial assets:

 

  

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

20,997

$

20,997

$

$

$

20,997

Interest-bearing time deposits in banks

650

650

650

Securities available-for-sale

 

36,975

 

 

33,965

 

3,010

 

36,975

Securities held-to-maturity

 

1,128

 

 

1,150

 

 

1,150

Equity securities

 

350

 

350

 

 

 

350

Loans receivable

 

278,120

 

 

 

281,502

 

281,502

FHLB stock

 

1,450

 

 

1,450

 

 

1,450

Accrued interest receivable

 

1,249

 

1,249

 

 

 

1,249

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Deposits

$

312,049

$

94,709

$

$

219,261

$

313,970

Long-term borrowings

 

17,760

 

 

21,985

 

 

21,985

Accrued interest payable

 

35

 

35

 

 

 

35

Schedule of assets measured at fair value on a recurring basis

At March 31, 2022

Total Fair

(In thousands)

    

Level 1

    

Level 2

    

Level 3

    

Value

Securities available-for-sale:

 

  

 

  

 

  

 

  

Debt investment securities:

 

  

 

  

 

  

 

  

Residential mortgage-backed - US agency and GSEs

$

$

30

$

$

30

Corporate bonds

19,089

19,089

Municipal bonds

 

 

14,454

 

2,505

 

16,959

Equity investment securities:

 

  

 

  

 

  

 

  

Large cap equity mutual fund

 

44

 

 

 

44

Other mutual funds

 

294

 

 

 

294

Total investment securities

$

338

$

33,573

$

2,505

$

36,416

At December 31, 2021

Total Fair

(In thousands)

    

Level 1

    

Level 2

    

Level 3

    

Value

Securities available-for-sale:

 

  

 

  

 

  

 

  

Debt investment securities:

 

  

 

  

 

  

 

  

Residential mortgage-backed - US agency and GSEs

$

$

33

$

$

33

Corporate bonds

18,043

18,043

Municipal bonds

 

 

15,889

 

3,010

 

18,899

Equity investment securities:

 

  

 

  

 

  

 

  

Large cap equity mutual fund

 

45

 

 

 

45

Other mutual funds

 

305

 

 

 

305

Total investment securities

$

350

$

33,965

$

3,010

$

37,325

Schedule of changes in Level 3 assets measured at estimated fair value on a recurring basis

    

Investment

(In thousands)

Securities

Balance - January 1, 2022

$

3,010

Total gains realized/unrealized:

 

  

Included in other comprehensive income

 

329

Principal payments/maturities

 

(834)

Balance - March 31, 2022

$

2,505

    

Investment

(In thousands)

Securities

Balance - January 1, 2021

$

3,174

Total gains realized/unrealized:

 

  

Included in other comprehensive income

 

50

Purchases

 

826

Principal payments/maturities

 

(665)

Balance - March 31, 2021

$

3,385

Schedule of assets measured at fair value on a nonrecurring basis

At March 31, 2022

Total Fair

(In thousands)

    

Level 1

    

Level 2

    

Level 3

    

Value

Impaired loans

$

$

$

43

$

43

Foreclosed real estate & repossessed assets

 

 

 

 

At December 31, 2021

Total Fair

(In thousands)

    

Level 1

    

Level 2

    

Level 3

    

Value

Impaired loans

$

$

$

260

$

260

Foreclosed real estate & repossessed assets

 

 

 

27

 

27

Schedule of quantitative Information about Level 3 Fair Value Measurements

The following table presents additional quantitative information about assets measured at fair value on a recurring  basis and for which Level 3 inputs were used to determine fair value:  

Quantitative Information about Level 3 Fair Value Measurements

    

Valuation

    

Unobservable

    

Range

Techniques

Input

(Weighted Avg.)

Investment type-

Other Investments

Scheduled principal

Cost to Sell

0%

and Interest payments

Carrying value

100%

The following table presents quantitative information about Level 3 fair value measurements for assets measured at fair value on a nonrecurring basis at March 31, 2022 and December 31, 2021:

Quantitative Information about Level 3 Fair Value Measurements

Valuation

Unobservable

Range

    

Techniques

    

Input

    

(Weighted Avg.)

Impaired loans -

    

Appraisal of collateral

    

Appraisal Adjustments

    

  5%  - 35%  (20)%

One-to four-family residential

 

  

 

Costs to Sell

 

  5%  - 15% (10)%

 

  

 

  

 

  

Impaired loans -

 

Appraisal of collateral

 

Appraisal Adjustments

 

  5%  - 35%  (25)%

Commercial business

 

  

 

Changes in property condition

 

10%  - 20% (15)%

  

 

Costs to Sell

 

  5%  - 15% (10)%

 

  

 

  

 

  

Foreclosed real estate and repossessed assets

 

Appraisal of collateral

 

Appraisal Adjustments

 

  5%  - 35%  (25)%

 

  

 

Changes in property condition

 

10%  - 20% (15)%

 

  

 

Costs to Sell

 

  5%  - 15% (10)%