FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023:

			Fair Value Measurements at December 31, 2023, 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	$	35,060	$	35,060	$	—	$	—
Corporate Bonds	76,623		—		76,623		—
U.S. Government agency obligations	11,140		11,140		—		—
Obligations issued by U.S. states and their political subdivisions	6,195		—		6,195		—
Mortgage-backed securities:
Residential one-to-four family	128,542		—		128,542		—
Multifamily	11,523		—		11,523		—
Asset-backed securities	14,683		—		14,683		—
Total securities available-for-sale	283,766		46,200		237,566		—
Derivatives	9,047		—		9,047		—
Total financial assets measured on a recurring basis	$	292,813	$	46,200	$	246,613	$	—
Financial Liabilities
Derivatives	$	1,465	$	—	$	1,465	$	—
Measured on a nonrecurring basis:
Nonfinancial assets
Real estate owned	$	593	$	—	$	—	$	593

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	$	—	$	—
Corporate Bonds	76,298		—		76,298		—
U.S. Government agency obligations	11,466		11,295		171		—
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	8,113		—		8,113		—
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	$	—

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, 2023 and December 31, 2022 are as follows:

			Fair Value Measurements at December 31, 2023, 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	$	33,412	$	—	$	28,323	$	—
Loans, net of allowance for credit losses	1,546,576		—		—		1,332,138
Financial liabilities
Time Deposits	596,624		—		592,676		—
Federal Home Loan Bank advances	397,500		—		405,015		—
			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 of allowance for loan losses	1,531,727		—		—		1,332,882
Financial liabilities
Time Deposits	416,260		—		408,904		—
Federal Home Loan Bank advances	310,500		—		318,688		—