FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of estimated fair values of the Bank's financial instruments

	June 30, 2022
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	29,135	$	29,135	$	29,135	$	-	$	-
Investment securities:
Available-for-sale		82,276		82,276		-		82,276		-
Held-to-maturity		13,486		11,502		-		11,502		-
Loans receivable, net		131,644		125,918		-		-		125,918
Bank-owned life insurance		13,422		13,422		-		13,422		-
Financial Liabilities:
Deposits		178,735		177,820		-		177,820		-
Borrowed funds		9,108		7,918		-		7,918		-

	December 31, 2021
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	40,884	$	40,884	$	40,884	$	-	$	-
Investment securities:
Available-for-sale		88,339		88,339		-		88,339		-
Held-to-maturity		13,498		13,152		-		13,152		-
Loans receivable, net		129,566		128,591		-		-		128,591
Bank-owned life insurance		3,303		3,303		-		3,303		-
Financial Liabilities:
Deposits		176,795		176,869		-		176,869		-
Borrowed funds		9,018		8,720		-		8,720		-