HVBC 2016 Annual Report

HV Bancorp, Inc. and Subsidiary Notes to the Consolidated Financial Statements Years Ended June 30, 2017 and 2016 81 2016 (Dollars in thousands) Level 1 Level 2 Level 3 Total Investment securities available-for-sale: $ — $ 1,521 $ — $ 1,521 Corporate notes — 8,327 — 8,327 Collateralized mortgage obligations - agency residential — 9,831 — 9,831 Mortgage-backed securities - agency residential — 7,009 — 7,009 Municipal securities — 3,566 — 3,566 Bank CDs — 3,027 — 3,027 Loans held for sale — 24,676 — 24,676 Forward loan sales commitments — 408 — 408 TBA securities — — — — Interest rate lock commitments — — 1,084 1,084 $ — $ 58,365 $ 1,084 $ 59,449 Liabilities measured at fair value on a recurring basis at June 30, 2017 are summarized below. 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Forward loan sales commitments $ — $ 37 $ — $ 37 TBA securities — 8 — 8 Interest rate lock commitments — — 19 19 $ — $ 45 $ 19 $ 64 Liabilities measured at fair value on a recurring basis at June 30, 2016 are summarized below. 2016 (Dollars in thousands) Level 1 Level 2 Level 3 Total Forward loan sales commitments $ — $ 48 $ — $ 48 TBA securities — 166 — 166 Interest rate lock commitments — — 32 32 $ — $ 214 $ 32 $ 246 For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at June 30, 2017 and June 30, 2016 are as follows: 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Impaired loans $ — $ — $ 158 $ 158 Real estate owned — — — — $ — $ — $ 158 $ 158