Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2018

Investments, All Other Investments [Abstract]

NOTE 12 fair value OF FINANCIAL INSTRUMENTS

A new requirement regarding the disclosure of fair value of financial instruments carried at amortized cost under Accounting Standards Codification (ASC) Topic 825, to address certain aspects of recognition, measurement, presentation and disclosure of financial instruments, requires a change in how the fair value is determined. Instead of permitting the use of entrance pricing, exit pricing must be used to determine fair value.

The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows:

	September 30, 2018				December 31, 2017
	(Unaudited)
	Carrying		Fair		Carrying		Fair		Input
	Amount		Value		Amount		Value		Level
Financial Assets:
Cash and Cash Equivalents	$	5,661,000	$	5,661,000	$	2,925,000	$	2,925,000		1
Certificates of Deposit in Other Financial Institutions		2,976,000		2,976,000		5,699,000		5,699,000		2
FHLB Stock		82,000		82,000		89,000		89,000		2
Loans, net		54,857,000		54,764,000		51,937,000		51,788,000		3
Accrued Interest Receivable		178,000		178,000		163,000		163,000		2
Financial Liabilities:
Deposits		44,450,000		44,014,000		41,636,000		41,430,000		3
Accrued Interest Payable		6,000		6,000		-		-		2

Central Federal Bancshares, Inc 10-Q