FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of fair value of assets and liabilities

The following table summarizes the fair value of assets and liabilities as of December 31, 2022:

			Fair Value Measurements at December 31, 2022, Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
Measured on a recurring basis:
Financial assets
Securities available for sale:
U.S. Treasury Notes	$	43,759	$	43,759	$	—	$	—
Domestic Corporate Bonds	76,298		—		76,298		—
U.S. Government agency obligations	15,423		11,295		4,128		—
Obligations issued by U.S. states and their political subdivisions	16,268		—		16,268		—
Mortgage-backed securities:
Residential one-to-four family	140,186		—		140,186		—
Multifamily	18,158		—		18,158		—
Asset-backed securities	4,156		—		4,156		—
Total securities available for sale	314,248		55,054		259,194		—
Derivatives	$	11,091	—		11,091		—
Total financial assets measured on a recurring basis	$	325,339	$	55,054	$	270,285	$	—
Financial Liabilities
Derivatives	$	—	$	—	$	—	$	—
Measured on a nonrecurring basis:
Nonfinancial assets
Assets held for sale	$	917	$	—	$	917	$	—

The following table summarizes the fair value of assets and liabilities as of December 31, 2021:

			Fair Value Measurements at December 31, 2021, Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
Measured on a recurring basis:
Financial assets
Securities available for sale
U.S. Treasury Notes	$	36,832	$	36,832	$	—	$	—
Domestic Corporate Bonds	87,619		—		87,619		—
U.S. Government agency obligations	23,329		17,617		5,712		—
Obligations issued by U.S. states and their political subdivisions	20,324		—		20,324		—
Mortgage-backed securities:	—
Residential one-to-four family	114,401		—		114,401		—
Multifamily	35,916		—		35,916		—
Asset-backed securities	6,471		—		6,471		—
Total securities available for sale	324,892		54,449		270,443		—
Derivatives	1,313		—		1,313		—
Total financial assets measured on a recurring basis	$	326,205	$	54,449	$	271,756	$	—
Financial Liabilities
Derivatives	$	1,559	$	—	$	1,559	$	—

Summary of carrying amounts and fair value of financial instruments not carried at fair value

The carrying amounts and fair value of financial instruments not carried at fair value, at December 31, 2022 and December 31, 2021 are as follows:

			Fair Value Measurements at December 31, 2022, Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Book Value		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
Financial assets
Securities held-to-maturity	$	33,705	$	—	$	29,115	$	—
Loans, net	1,531,727		—		—		1,332,882
Financial liabilities
Time Deposits	416,260		—		408,904		—
Federal Home Loan advances	310,500		—		318,688		—
			Fair Value Measurements at December 31, 2021, Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Book Value		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
Financial assets
Securities held-to-maturity	$	23,281	$	—	$	22,849	$	—
Loans, net	1,273,184						1,266,799
Financial liabilities
Time Deposits	473,795		—		470,732		—
Federal Home Loan advances	185,500		—		182,795