DISCLOSURES ABOUT FAIR VALUES OF FINANCIAL INSTRUMENTS
 3 Months Ended 12 Months Ended
Mar. 31, 2019
Dec. 31, 2018
Fair Value Of Financial Instrument [Abstract]    
DISCLOSURES ABOUT FAIR VALUES OF FINANCIAL INSTRUMENTS

Note 11 - Disclosures About Fair Values of Financial Instruments

 

GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Certain financial instruments and all nonfinancial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company.

 

The carrying amounts and estimated fair values of the Company's financial instruments, all of which are held or issued for purposes other than trading, are as follows at March 31, 2019 and December 31, 2018:

 

    Carrying     Fair Value  
(In thousands)   Amount     Level 1     Level 2     Level 3     Total  
                               
March 31, 2019                                        
Financial assets:                                        
Cash and cash equivalents   $ 23,726     $ 23,726     $ -     $ -     $ 23,726  
Available-for-sale securities     49,662       -       49,662       -       49,662  
Federal Home Loan Bank of Boston stock     3,515       3,515       -       -       3,515  
Loans, net     859,269       -       -       852,305       852,305  
Accrued interest receivable     3,171       -       3,171       -       3,171  
Financial liabilities:                                        
Deposits     775,277       -       -       775,554       775,554  
Borrowings     79,942       -       79,984       -       79,984  
                                         
December 31, 2018                                        
Financial assets:                                        
Cash and cash equivalents   $ 28,613     $ 28,613     $ -     $ -     $ 28,613  
Available-for-sale securities     51,403       -       51,403       -       51,403  
Federal Home Loan Bank of Boston stock     2,650       2,650       -       -       2,650  
Loans, net     835,528       -       -       827,090       827,090  
Accrued interest receivable     2,638       -       2,638       -       2,638  
Financial liabilities:                                        
Deposits     768,096       -       -       768,010       768,010  
Borrowings     68,022       -       67,846       -       67,846  

 

The carrying amounts of financial instruments shown above are included in the consolidated balance sheets under the indicated captions. Accounting policies related to financial instruments are described in Note 2.

Note 16 - Disclosures About Fair Values of Financial Instruments

 

GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Certain financial instruments and all nonfinancial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company.

 

The carrying amounts and estimated fair values of the Company's financial instruments, all of which are held or issued for purposes other than trading, are as follows at December 31, 2018 and 2017:

 

    Carrying     Fair Value  
(In thousands)   Amount     Level 1     Level 2     Level 3     Total  
                               
December 31, 2018                                        
Financial assets:                                        
Cash and cash equivalents   $ 28,613     $ 28,613     $ -     $ -     $ 28,613  
Available-for-sale securities     51,403       -       51,403       -       51,403  
Federal Home Loan Bank of Boston stock     2,650       2,650       -       -       2,650  
Loans, net     835,528       -       -       827,090       827,090  
Accrued interest receivable     2,638       -       2,638       -       2,638  
Financial liabilities:                                        
Deposits     768,096       -       -       768,010       768,010  
Borrowings     68,022       -       67,846       -       67,846  
                                         
December 31, 2017                                        
Financial assets:                                        
Cash and cash equivalents   $ 47,689     $ 47,689     $ -     $ -     $ 47,689  
Available-for-sale securities     61,429       -       61,429       -       61,429  
Federal Home Loan Bank of Boston stock     1,854       1,854       -       -       1,854  
Loans, net     742,138       -       -       745,637       745,637  
Accrued interest receivable     2,345       -       2,345       -       2,345  
Financial liabilities:                                        
Deposits     750,057       -       -       749,898       749,898  
Borrowings     26,841       -       26,655       -       26,655  

 

The carrying amounts of financial instruments shown above are included in the consolidated balance sheets under the indicated captions. Accounting policies related to financial instruments are described in Note 2.