FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2020


September 30, 2020	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset (dollars in thousands)					Level 1		Level 2		Level 3
Assets
Investment securities - AFS	$	229,620	$	229,620	$	—	$	229,620	$	—

Equity securities carried at fair value through income	4,851		4,851		—		4,851
Non-marketable equity securities in other financial institutions	209		209		—		209		—
FHLB Stock	3,415		3,415		—		3,415		—
Net loans receivable	1,607,124		1,589,495		—		—		1,589,495
Accrued Interest Receivable	8,975		8,975		—		8,975		—
Investment in BOLI	37,841		37,841		—		37,841		—

Liabilities
Savings, NOW and money market accounts	$	1,416,146	$	1,416,146	$	—	$	1,416,146	$	—
Time deposits	363,460		365,439		—		365,439		—

Long-term debt	42,319		43,298		—		43,298		—
TRUPs	12,000		9,022		—		9,022		—

See the Company’s methodologies disclosed in Note 20 of the Company’s 2019 Form 10-K for the fair value methodologies used as of December 31, 2019:


December 31, 2019	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset (dollars in thousands)					Level 1		Level 2		Level 3
Assets
Investment securities - AFS	$	208,187	$	208,187	$	—	$	208,187	$	—

Equity securities carried at fair value through income	4,669		4,669		—		4,669		—
Non-marketable equity securities in other financial institutions	209		209		—		209		—
FHLB Stock	3,447		3,447		—		3,447		—
Net loans receivable	1,445,109		1,424,506		—		—		1,424,506
Accrued Interest Receivable	5,019		5,019		—		5,019		—
Investment in BOLI	37,180		37,180		—		37,180		—

Liabilities
Savings, NOW and money market accounts	$	1,117,668	$	1,117,668	$	—	$	1,117,668	$	—
Time deposits	394,169		396,492		—		396,492		—
Short-term borrowings	5,000		5,007		—		5,007		—
Long-term debt	40,370		40,588		—		40,588		—
TRUPs	12,000		10,129		—		10,129		—
Subordinated notes	23,000		23,031		—		23,031		—