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Fair Value (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on a Recurring Basis

The following tables present the balances of financial assets measured at fair value on a recurring basis:

 

 

September 30, 2020

 

(in thousands)

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal

$

14,011

 

 

$

—

 

 

$

14,011

 

 

$

—

 

U.S. Treasury and agencies

 

2,466

 

 

 

 

 

 

 

2,466

 

 

 

 

 

Mortgage backed securities

 

79,491

 

 

 

—

 

 

 

79,491

 

 

 

—

 

Corporate bonds

 

17,921

 

 

 

—

 

 

 

17,921

 

 

 

—

 

Total securities available for sale

$

113,889

 

 

$

—

 

 

$

113,889

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

(in thousands)

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and agencies

$

2,449

 

 

$

—

 

 

$

2,449

 

 

$

—

 

Mortgage backed securities

 

95,485

 

 

 

—

 

 

 

95,485

 

 

 

—

 

Corporate bonds

 

10,637

 

 

 

—

 

 

 

10,637

 

 

 

—

 

Total securities available for sale

$

108,571

 

 

$

—

 

 

$

108,571

 

 

$

—