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Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial instruments
The fair values of the Company’s financial instruments not recorded at fair value on a recurring or nonrecurring basis are as follows at March 31, 2019 and December 31, 2018:
 
 
Carrying
 
Fair
 
Fair Value Measurements at March 31, 2019
(In Thousands)
 
Value
 
Value
 
Level I
 
Level II
 
Level III
Financial assets:
 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents (1)
 
$
73,596

 
$
73,596

 
$
73,596

 
$
—

 
$
—

Restricted investment in bank stock (1)
 
15,725

 
15,725

 
15,725

 
—

 
—

Loans held for sale (1)
 
1,787

 
1,787

 
1,787

 
—

 
—

Loans, net
 
1,370,678

 
1,388,307

 
—

 
—

 
1,388,307

Bank-owned life insurance (1)
 
28,812

 
28,812

 
28,812

 
—

 
—

Accrued interest receivable (1)
 
5,542

 
5,542

 
5,542

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 

 
 

 
 

 
 

 
 

Interest-bearing deposits
 
$
987,404

 
$
987,829

 
$
721,366

 
$
—

 
$
266,463

Noninterest-bearing deposits (1)
 
321,657

 
321,657

 
321,657

 
—

 
—

Short-term borrowings (1)
 
84,499

 
84,499

 
84,499

 
—

 
—

Long-term borrowings
 
144,631

 
144,776

 
—

 
—

 
144,776

Accrued interest payable (1)
 
1,278

 
1,278

 
1,278

 
—

 
—

(1) The financial instrument is carried at cost at March 31, 2019, which approximate the fair value of the instruments
 
 
Carrying
 
Fair
 
Fair Value Measurements at December 31, 2018
(In Thousands)
 
Value
 
Value
 
Level I
 
Level II
 
Level III
Financial assets:
 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents (1)
 
$
66,742

 
$
66,742

 
$
66,742

 
$
—

 
$
—

Restricted investment in bank stock (1)
 
18,862

 
18,862

 
18,862

 
—

 
—

Loans held for sale (1)
 
2,929

 
2,929

 
2,929

 
—

 
—

Loans, net
 
1,370,920

 
1,381,581

 
—

 
—

 
1,381,581

Bank-owned life insurance (1)
 
28,627

 
28,627

 
28,627

 
—

 
—

Accrued interest receivable (1)
 
5,334

 
5,334

 
5,334

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 

 
 

 
 

 
 

 
 

Interest-bearing deposits
 
$
899,089

 
$
882,108

 
$
612,478

 
$
—

 
$
269,630

Noninterest-bearing deposits (1)
 
320,814

 
320,814

 
320,814

 
—

 
—

Short-term borrowings (1)
 
167,865

 
167,865

 
167,865

 
—

 
—

Long-term borrowings
 
138,942

 
137,773

 
—

 
—

 
137,773

Accrued interest payable (1)
 
1,150

 
1,150

 
1,150

 
—

 
—


(1) The financial instrument is carried at cost at December 31, 2018, which approximate the fair value of the instruments