v3.25.2
Fair Value Disclosures (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures  
Assets carried at fair value on a recurring basis

Quoted Prices in

Significant Other

Significant

Total Carried

Active Markets for

Observable

Unobservable

at Fair

Identical Assets

Inputs

Inputs

Value on a

(Level 1)

(Level 2)

(Level 3)

Recurring Basis

June 30, 

December 31, 

June 30, 

December 31, 

June 30, 

December 31, 

June 30, 

December 31, 

Description

    

2025

    

2024

    

2025

    

2024

    

2025

    

2024

    

2025

    

2024

Assets:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Marketable equity securities:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Mutual funds

$

25,345

$

21,994

$

$

$

$

$

25,345

$

21,994

Total assets

$

25,345

$

21,994

$

$

$

$

$

25,345

$

21,994

Assets carried at fair value on a non-recurring basis

Quoted Prices in

Significant Other

Significant

Total Carried

Active Markets for

Observable

Unobservable

at Fair

Identical Assets

Inputs

Inputs

Value on a

(Level 1)

(Level 2)

(Level 3)

Non-Recurring Basis

June 30, 

December 31, 

June 30, 

December 31, 

June 30, 

December 31, 

June 30, 

December 31, 

Description

    

2025

    

2024

    

2025

    

2024

    

2025

    

2024

    

2025

    

2024

 

(In Thousands)

Assets:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Real estate owned

$

 

$

$

$

767

$

5,120

$

767

$

5,120

Total assets

$

$

$

$

$

767

$

5,120

$

767

$

5,120

Schedule of qualitative information about non-recurring Level 3 fair value measurements of financial instruments

    

At June 30, 2025

 

    

Fair

    

Valuation

    

Unobservable

    

    

Weighted

 

Value

Technique

Input

Range

Average

 

(In Thousands)

 

Assets:

  

 

  

 

  

 

  

 

  

Real estate owned

$

767

Sales approach

Adjustment to sales comparison value

- 40% to - 10%

- 40% to - 10%

%

    

At December 31, 2024

 

    

Fair

    

Valuation

    

Unobservable

    

    

Weighted

 

Value

Technique

Input

Range

Average

 

(In Thousands)

 

Assets:

  

 

  

 

  

 

  

 

  

Real estate owned

$

767

Sales approach

Adjustment to sales comparison value

- 40% to - 10%

- 40% to - 10%

%

Real estate owned

 

4,353

 

Income approach

 

Capitalization rate

 

6.00%

6.00%

%

Schedule of carrying amounts and estimated fair value of our financial instruments

Fair Value at
June 30, 2025

    

    

    

Quoted

    

    

Prices in

Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

Inputs

(In thousands)

    

Amount

    

Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

Financial Assets

  

  

  

  

  

Cash and cash equivalents

$

59,373

$

59,373

$

59,373

$

$

Certificates of deposit

100

100

100

Marketable equity securities

25,345

25,345

25,345

Securities held to maturity

14,398

11,594

11,594

Loans receivable, net

1,792,832

1,786,972

1,786,972

Investments in restricted stock

1,085

1,085

1,085

Accrued interest receivable

12,119

12,119

12,119

Financial Liabilities

  

  

  

  

  

Deposits

1,479,161

1,479,292

1,479,292

Borrowings

135,000

135,258

135,258

Fair Value at
December 31, 2024

    

    

Quoted

    

    

Prices in

Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

Inputs

(In thousands)

    

Amount

    

Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

Financial Assets

  

  

  

  

  

Cash and cash equivalents

$

78,259

$

78,259

$

78,259

$

$

Certificates of deposit

100

100

100

Marketable equity securities

21,994

21,994

21,994

Securities held to maturity

14,616

11,858

11,858

Loans receivable

1,807,768

1,801,607

1,801,607

Investments in restricted stock

397

397

397

Accrued interest receivable

13,481

13,481

13,481

Financial Liabilities

  

  

  

  

  

Deposits

1,670,375

1,674,376

1,674,376