FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2024

FAIR VALUE OF FINANCIAL INSTRUMENTS

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

	September 30, 2024
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	45,753	$	45,753	$	45,753	$	-	$	-
Investment securities:
Available-for-sale		32,196		32,196		-		32,196		-
Held-to-maturity		13,450		11,699		-		11,699		-
Loans receivable, net		163,468		162,500		-		-		162,500
Bank-owned life insurance		14,370		14,370		-		14,370		-
Financial Liabilities:
Deposits		167,436		166,979		-		166,979		-
Borrowed funds		29,513		29,209		-		29,209		-

	December 31, 2023
(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	19,011	$	19,011	$	19,011	$	-	$	-
Investment securities:
Available-for-sale		70,540		70,540		-		70,540		-
Held-to-maturity		13,461		11,227		-		11,227		-
Loans receivable, net		142,796		132,742		-		-		132,742
Bank-owned life insurance		14,026		14,026		-		14,026		-
Financial Liabilities:
Deposits		165,622		164,710		-		164,710		-
Borrowed funds		19,378		18,807		-		18,807		-