Broadway Financial (BYFC) 10-Q 14 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 11, 2021
Document Information [Line Items]
Entity Registrant Name	BROADWAY FINANCIAL CORP \DE\
Entity Central Index Key	0001001171
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Address, State or Province	CA
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		43,630,884
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,404,621
Class C Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,689,775

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets:
Cash and due from banks	$ 70,600	$ 71,110
Interest-bearing deposits in other banks	17,556	24,999
Cash and cash equivalents	88,156	96,109
Securities available-for-sale, at fair value	10,023	10,698
Loans receivable held for investment, net of allowance of $3,215 and $3,215	362,520	360,129
Accrued interest receivable	1,157	1,202
Federal Home Loan Bank (FHLB) stock	3,431	3,431
Office properties and equipment, net	2,366	2,540
Bank owned life insurance	3,157	3,147
Deferred tax assets, net	7,093	5,633
Other assets	1,691	489
Total assets	479,594	483,378
Liabilities:
Deposits	312,315	315,630
FHLB advances	110,500	110,500
Junior subordinated debentures	3,060	3,315
Accrued expenses and other liabilities	8,643	5,048
Total liabilities	434,518	434,493
Stockholders' Equity:
Preferred stock, $.01 par value, authorized 1,000,000 shares; none issued or outstanding	0	0
Additional paid-in capital	46,625	46,851
Retained earnings	4,296	7,783
Unearned Employee Stock Ownership Plan (ESOP) shares	(877)	(893)
Accumulated other comprehensive income, net of tax	53	164
Treasury stock-at cost, 2,617,826 shares at March 31, 2021 and at December 31, 2020	(5,326)	(5,326)
Total stockholders' equity	45,076	48,885
Total liabilities and stockholders' equity	479,594	483,378
Common Stock Voting [Member]
Stockholders' Equity:
Common stock	218	219
Common Stock Non-Voting [Member]
Stockholders' Equity:
Common stock	$ 87	$ 87

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets [Abstract]
Allowance for loan losses	$ 3,215	$ 3,215
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	2,617,826	2,617,826
Common Stock Voting [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	21,760,324	21,899,584
Common stock, shares outstanding (in shares)	19,142,498	19,281,758
Common Stock Non-Voting [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	8,756,396	8,756,396
Common stock, shares outstanding (in shares)	8,756,396	8,756,396

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest Income:
Interest and fees on loans receivable	$ 3,644	$ 4,359
Interest on investment securities	56	70
Other interest income	77	142
Total interest income	3,777	4,571
Interest Expense:
Interest on deposits	383	1,055
Interest on borrowings	549	618
Total interest expense	932	1,673
Net interest income	2,845	2,898
Loan loss provision	0	(29)
Net interest income after loan loss provision	2,845	2,869
Non-Interest Income:
Service charges	93	144
Net gain on sale of loans	0	7
Other	30	46
Total non-interest income	123	197
Non-Interest Expense:
Compensation and benefits	5,390	2,055
Occupancy expense	308	315
Information services	241	237
Professional services	1,939	264
Office services and supplies	95	76
Corporate insurance	246	32
Amortization of investment in affordable housing limited partnership	26	45
Other	382	125
Total non-interest expense	8,627	3,149
Loss before income taxes	(5,659)	(83)
Income tax benefit	(2,172)	(50)
Net loss	(3,487)	(33)
Other comprehensive (loss) income, net of tax:
Unrealized (losses) gains on securities available-for-sale arising during the period	(158)	175
Income tax (benefit) expense	(47)	52
Other comprehensive (loss) income, net of tax	(111)	123
Comprehensive (loss) income	$ (3,598)	$ 90
Loss per common share-basic (in dollars per share)	$ (0.13)	$ 0
Loss per common share-diluted (in dollars per share)	$ (0.13)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (3,487)	$ (33)
Adjustments to reconcile net loss to net cash used in operating activities:
Loan loss provision	0	29
Depreciation	53	191
Net amortization of deferred loan origination costs and loan premiums	(21)	59
Net amortization of premiums on mortgage-backed securities	10	9
ESOP compensation expense	23	17
Earnings on bank owned life insurance	(10)	(12)
Originations of loans receivable held for sale	0	(65,986)
Proceeds from sales and repayments of loans receivable held for sale	0	20,512
Gain on sale of loans receivable held for sale	0	(7)
Change in assets and liabilities:
Net change in deferred taxes	(1,413)	7
Net change in accrued interest receivable	45	(126)
Net change in other assets	(1,202)	(222)
Net change in advance payments by borrowers for taxes and insurance	(532)	(548)
Net change in accrued expenses and other liabilities	4,263	(184)
Net cash used in operating activities	(2,058)	(46,169)
Cash flows from investing activities:
Net change in loans receivable held for investment	(2,370)	16,425
Principal payments on available-for-sale securities	507	466
Purchase of FHLB stock	0	(594)
Purchase of office properties and equipment	(15)	(139)
Net cash (used in) provided by investing activities	(1,878)	16,158
Cash flows from financing activities:
Net change in deposits	(3,315)	35,425
Proceeds from FHLB advances	0	55,000
Repayments of FHLB advances	0	(24,000)
Stock cancelled for payment of tax withholdings	(447)	0
Repayments of junior subordinated debentures	(255)	(255)
Net cash (used in) provided by financing activities	(4,017)	66,170
Net change in cash and cash equivalents	(7,953)	36,159
Cash and cash equivalents at beginning of the period	96,109	15,566
Cash and cash equivalents at end of the period	88,156	51,725
Supplemental disclosures of cash flow information:
Cash paid for interest	809	1,747
Cash paid for income taxes	39	0
Directors [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	45	45
Employees, Excluding Directors [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	$ 168	$ 80

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]Common Stock Voting [Member]	Common Stock [Member]Common Stock Non-Voting [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Retained Earnings (Substantially Restricted) [Member]	Unearned ESOP Shares [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2019	$ 218	$ 87	$ 46,426	$ (23)	$ 8,425	$ (959)	$ (5,326)	$ 48,848
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	0	0	0	0	(33)	0	0	(33)
Release of unearned ESOP shares	0	0	0	0	0	17	0	17
Restricted stock Compensation expense	1	0	70	0	0	0	0	71
Stock awarded to directors	0	0	45	0	0	0	0	45
Stock option compensation expense	0	0	9	0	0	0	0	9
Other comprehensive income (loss), net of tax	0	0	0	123	0	0	0	123
Balance at Mar. 31, 2020	219	87	46,550	100	8,392	(942)	(5,326)	49,080
Balance at Dec. 31, 2020	219	87	46,851	164	7,783	(893)	(5,326)	48,885
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	0	0	0	0	(3,487)	0	0	(3,487)
Release of unearned ESOP shares	0	0	7	0	0	16	0	23
Restricted stock Compensation expense		0	162	0	0	0	0	162
Common stock cancelled for payment of tax withholdings	(1)	0	(446)	0	0	0	0	(447)
Stock awarded to directors		0	45	0	0	0	0	45
Stock option compensation expense	0	0	6	0	0	0	0	6
Other comprehensive income (loss), net of tax	0	0	0	(111)	0	0	0	(111)
Balance at Mar. 31, 2021	$ 218	$ 87	$ 46,625	$ 53	$ 4,296	$ (877)	$ (5,326)	$ 45,076

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	3 Months Ended
	Mar. 31, 2021
Basis of Financial Statement Presentation [Abstract]
Basis of Financial Statement Presentation	NOTE (1) – Basis of Financial Statement Presentation The accompanying unaudited consolidated financial statements include Broadway Financial Corporation (the “Company”) and its wholly owned subsidiary, Broadway Federal Bank, f.s.b. (the “Bank”, and collectively, with the Company, “Broadway”). Also included in the unaudited consolidated financial statements is Broadway Service Corporation, a wholly owned subsidiary of the Bank. All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for quarterly reports on Form 10-Q. These unaudited consolidated financial statements do not include all disclosures associated with the Company’s consolidated annual financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2020 and, accordingly, should be read in conjunction with such audited consolidated financial statements. In the opinion of management, all adjustments (all of which are normal and recurring in nature) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. See Note 2. Subsequent events have been evaluated through May 14, 2021, which is the date these financial statements were issued. Accounting Pronouncements to Be Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides optional expedients and exceptions regarding the accounting related to the modifications of certain contracts, relationships and other transactions that are affected by reference rate reform related to contracts that reference LIBOR or other reference rates that could be discontinued due to reference rate reform. This guidance was effective immediately and the amendments may be applied prospectively through December 31, 2022. The estimated financial impact has not yet been determined. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The amendments in this ASU are intended to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments are also intended to improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The guidance did not have a significant impact on the Company’s consolidated financial statements. Accounting Pronouncements Yet to Be Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (“CECL”) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held-to-maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. For debt securities with other-than-temporary impairment, the guidance will be applied prospectively. Existing purchased credit impaired (“PCI”) assets will be grandfathered and classified as purchased credit deteriorated (“PCD”) assets at the date of adoption. The asset will be grossed up for the allowance for expected credit losses for all PCD assets at the date of adoption and the noncredit discount in interest income based on the yield of such assets as of the adoption date. Subsequent changes in expected credit losses will be recorded through the allowance. For all other assets within the scope of CECL, a cumulative-effect adjustment will be recognized in retained earnings as of the beginning of the first reporting period in which the guidance is effective. On October 16, 2019, the FASB voted to affirm the proposed amended effective date for ASU 2016-13 for smaller reporting companies (“SRCs”) as defined by the SEC. The final ASU, which was issued in November 2019, delays the implementation date for ASU 2016-13 to fiscal years beginning after December 15, 2022. SRCs are defined as companies with less than $250 million of public float or less than $100 million in annual revenues for the previous year and no public float or public float of less than $700 million. The Company qualifies as an SRC, and management will implement ASU 2016-13 in the first quarter of 2023. The estimated financial impact has not yet been determined. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This ASU is effective January 1, 2020 and clarifies the scope of the credit losses standard and addresses issues related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other things. The amendments to Topic 326 have the same effective dates as ASU 2016-13. This guidance did not have a significant impact on the Company’s consolidated financial statements. In May 2019, the FASB issued ASU No. 2019-05, Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief. This ASU allows entities to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible financial assets measured at amortized cost basis upon adoption of the credit loss standards. The effective date for this ASU is the same as for ASU 2016-13. We will evaluate this ASU in conjunction with ASU 2016-13 to determine its impact on our financial condition and results of operations.

Acquisition of CFBanc Corporati

Acquisition of CFBanc Corporation	3 Months Ended
	Mar. 31, 2021
Acquisition of CFBanc Corporation [Abstract]
Acquisition of CFBanc Corporation	NOTE (2) – Acquisition of CFBanc Corporation Broadway Financial Corporation (the “Company”) completed its merger with CFBanc Corporation on April 1, 2021, with Broadway Financial Corporation continuing as the surviving entity (the “CFBanc Merger”). Immediately following this merger, Broadway Federal Bank, f.s.b. merged with and into City First Bank of D.C, National Association with City First Bank of D.C., National Association continuing as the surviving entity (which concurrently changed its name to City First Bank, National Association). The results for the first quarter of 2021 and 2020 include the results of Broadway Financial Corporation and its subsidiary, Broadway Federal Bank, f.s.b., (the “Bank”) on a standalone basis, and do not include any results of CFBanc Corporation and its subsidiaries. The unaudited pro forma information in the following table is intended for informational purposes only and is not necessarily indicative of future operating results or operating results that would have occurred had the mergers been completed at the beginning of each respective year. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions. Three Months Ended Twelve Months Ended December 31, 2020 (Dollars in thousands, except per share) (Unaudited) Net interest income $ 5,633 $ 23,781 Net income $ (3,873 ) $ 1,571 Basic earnings per share $ (0.07 ) $ 0.03 Diluted earnings per share $ (0.07 ) $ 0.03 On April 1, 2021, (1) each share of CFBanc Corporation’s Class A Common Stock, par value $0.50 per share, and Class B Common Stock, par value $0.50 per share, issued and outstanding immediately prior to the CFBanc Merger was converted into 13.626 validly issued, fully paid and nonassessable shares, respectively, of the voting common stock of the Company, par value $0.01 per share, which were renamed Class A Common Stock, and a new class of non-voting common stock of the Company, par value $0.01 per share, which was named Class B Common Stock, and (2) each share of Fixed Rate Cumulative Redeemable Perpetual Preferred Stock, Series B, par value $0.50 per share, of CFBanc Corporation (“CFBanc Corporation Preferred Stock”) issued and outstanding immediately prior to the effective time of the CFBanc Merger was converted into one validly issued, fully paid and non-assessable share of a new series of preferred stock of the Company, which was designated as the Company’s Fixed Rate Cumulative Redeemable Perpetual Preferred Stock, Series A, with such rights, preferences, privileges and voting powers, and limitations and restrictions thereof, which taken as a whole, are not materially less favorable to the holders of CFBanc Corporation Preferred Stock than the rights, preferences, privileges and voting powers, and limitations and restrictions thereof of CFBanc Corporation Preferred Stock. On April 6, 2021, the Company completed the sale of 18,474,000 shares of Broadway common stock in private placements to institutional and accredited investors at a purchase price of $1.78 per share for an aggregate purchase price of $32.9 million. The following table shows the common stock issued on April 1, 2021 as a result of the merger and on April 6, 2021 as a result of the private placements by class: Common Shares Outstanding Voting Class A Nonvoting Nonvoting Total Shares Shares outstanding March 31, 2021: 19,142,498 - 8,756,396 27,898,894 Shares issued in merger 13,999,870 11,404,621 - 25,404,491 Shares exchanged post-merger (681,300 ) - 681,300 - Shares cancelled (52,105 ) - - (52,105 ) Shares issued in private placements 11,221,921 - 7,252,079 18,474,000 Shares outstanding April 6, 2021: 43,630,884 11,404,621 16,689,775 71,725,280

Loss Per Share of Common Stock

Loss Per Share of Common Stock	3 Months Ended
	Mar. 31, 2021
Loss Per Share of Common Stock [Abstract]
Loss Per Share of Common Stock	NOTE (3) Loss Per Share of Common Stock Basic earnings per share of common stock is computed pursuant to the two-class method by dividing net income available to common stockholders less any undistributed earnings attributable to participating securities by the weighted average common shares outstanding during the period. The weighted average common shares outstanding includes the weighted average number of shares of common stock outstanding less the weighted average number of unvested shares of restricted common stock. ESOP shares are considered outstanding for this calculation unless unearned. Diluted earnings per share of common stock includes the dilutive effect of unvested stock awards and additional potential common shares issuable under stock options. The following table shows how the Company computed basic and diluted earnings per share of common stock for the periods indicated: For the three months ended March 31, 2021 2020 (In thousands, except share and per share data) Net loss $ (3,487 ) $ (33 ) Less net income attributable to participating securities - - Net loss available to common stockholders $ (3,487 ) $ (33 ) Weighted average common shares outstanding for basic earnings per common share 27,357,750 26,962,317 Add: dilutive effects of assumed exercises of stock options - - Weighted average common shares outstanding for diluted earnings per common share 27,357,750 26,962,317 Loss per common share - basic $ (0.13 ) $ (0.00 ) Loss per common share - diluted $ (0.13 ) $ (0.00 ) Stock options for 450,000 shares of common stock for the three months ended March 31, 2021 and 2020 were not considered in computing diluted earnings per common share because they were anti-dilutive due to net loss.

Securities

Securities	3 Months Ended
	Mar. 31, 2021
Securities [Abstract]
Securities	NOTE (4) – Securities The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the periods indicated and the corresponding amounts of unrealized gains which were recognized in accumulated other comprehensive income: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2021: Federal agency mortgage-backed securities $ 5,033 $ 228 $ - $ 5,261 Federal agency debt 2,682 100 - 2,782 Municipal bonds 2,000 6 (26 ) 1,980 Total available-for-sale securities $ 9,715 $ 334 $ (26 ) $ 10,023 December 31, 2020: Federal agency mortgage-backed securities $ 5,550 $ 257 $ - $ 5,807 Federal agency debt 2,682 190 - 2,872 Municipal bonds 2,000 19 - 2,019 Total available-for-sale securities $ 10,232 $ 466 $ - $ 10,698 At March 31, 2021, the Bank had two federal agency debt securities with total amortized cost of $2.7 million, estimated total fair value of $2.8 million and an estimated average remaining life of 4.4 years. The Bank also had 20 federal agency mortgage-backed securities with total amortized cost of $5.0 million, estimated total fair value of $5.3 million and an estimated average remaining life of 3.4 years. In addition, as of March 31, 2021, the Bank had five municipal bonds with total amortized cost of $2.0 million, estimated total fair value of $2.0 million and average remaining life of 6.5 years. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. No securities were pledged to secure public deposits at March 31, 2021 and December 31, 2020. At March 31, 2021 and December 31, 2020, no holdings of securities of any one issuer, other than the U.S. Government and its agencies exceeded 10% of stockholders’ equity. The Bank did not purchase or sell any securities during the three months ended March 31, 2021 and 2020. At March 31, 2021, the Bank held 23 securities with unrealized gains and four securities with unrealized losses. All securities with unrealized losses were in a loss position for less than 12 months. At December 31, 2020, the Bank held 29 securities with unrealized gains and no securities with unrealized losses. Securities in unrealized gain or loss positions are analyzed as part of our ongoing assessment of other than temporary fluctuations in fair market values primarily caused by movements in market interest rates subsequent to the purchase of such securities. All of the Bank’s securities were issued by the federal government or federal government agencies, or municipalities.

Loans Receivable Held for Inves

Loans Receivable Held for Investment	3 Months Ended
	Mar. 31, 2021
Loans Receivable Held for Investment [Abstract]
Loans Receivable Held for Investment	NOTE (5) Loans Receivable Held for Investment Loans receivable held for investment were as follows as of the periods indicated: March 31, 2021 December 31, 2020 (In thousands) Real estate: Single family $ 44,402 $ 48,217 Multi-family 279,554 272,387 Commercial real estate 24,129 24,289 Church 15,799 16,658 Construction 469 429 Commercial – other 54 57 Consumer 7 7 Gross loans receivable before deferred loan costs and premiums 364,414 362,044 Unamortized net deferred loan costs and premiums 1,321 1,300 Gross loans receivable 365,735 363,344 Allowance for loan losses (3,215 ) (3,215 ) Loans receivable, net $ 362,520 $ 360,129 The following tables present the activity in the allowance for loan losses by loan type for the periods indicated: Three Months Ended March 31, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Beginning balance $ 296 $ 2,433 $ 222 $ 237 $ 22 $ 4 $ 1 $ 3,215 Provision for (recapture of) loan losses (21 ) 40 (3 ) (16 ) - 1 (1 ) - Recoveries - - - - - - - - Loans charged off - - - - - - - - Ending balance $ 275 $ 2,473 $ 219 $ 221 $ 22 $ 5 $ - $ 3,215 Three Months Ended March 31, 2020 Real Estate Single Multi- family Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Beginning balance $ 312 $ 2,319 $ 133 $ 362 $ 48 $ 7 $ 1 $ 3,182 Provision for (recapture of) loan losses (4 ) 89 7 (39 ) (24 ) - - 29 Recoveries - - - - - - - - Loans charged off - - - - - - - - Ending balance $ 308 $ 2,408 $ 140 $ 323 $ 24 $ 7 $ 1 $ 3,211 The following tables present the balance in the allowance for loan losses and the recorded investment (unpaid contractual principal balance less charge-offs, less interest applied to principal, plus unamortized deferred costs and premiums) by loan type and based on impairment method as of and for the periods indicated: March 31, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 87 $ - $ - $ 48 $ - $ 1 $ - $ 136 Collectively evaluated for impairment 188 2,473 219 173 22 4 - 3,079 Total ending allowance balance $ 275 $ 2,473 $ 219 $ 221 $ 22 $ 5 $ - $ 3,215 Loans: Loans individually evaluated for impairment $ 568 $ 293 $ - $ 3,765 $ - $ 45 $ - $ 4,671 Loans collectively evaluated for impairment 43,969 280,753 24,164 11,693 469 9 7 361,064 Total ending loans balance $ 44,537 $ 281,046 $ 24,164 $ 15,458 $ 469 $ 54 $ 7 $ 365,735 December 31, 2020 Real Estate Single family Multi- Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 89 $ - $ - $ 52 $ - $ $ - $ 141 Collectively evaluated for impairment 207 2,433 222 185 22 4 1 3,074 Total ending allowance balance $ 296 $ 2,433 $ 222 $ 237 $ 22 $ 4 $ 1 $ 3,215 Loans: Loans individually evaluated for impairment $ 573 $ 298 $ - $ 3,813 $ - $ 47 $ - $ 4,731 Loans collectively evaluated for impairment 47,784 273,566 24,322 12,495 430 9 7 358,613 Total ending loans balance $ 48,357 $ 273,864 $ 24,322 $ 16,308 $ 430 $ 56 $ 7 $ 363,344 The following table presents information related to loans individually evaluated for impairment by loan type as of the periods indicated: March 31, 2021 December 31, 2020 Unpaid Principal Recorded Investment Allowance for Loan Losses Allocated Unpaid Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Single family $ - $ - $ - $ 2 $ 1 $ - Multi-family 293 293 - 298 298 - Church 2,507 1,942 - 2,527 1,970 - With an allowance recorded: Single family 568 568 87 573 573 88 Church 1,823 1,823 48 1,842 1,842 52 Commercial - other 45 45 1 47 47 1 Total $ 5,236 $ 4,671 $ 136 $ 5,289 $ 4,731 $ 141 The following tables present the monthly average of loans individually evaluated for impairment by loan type and the related interest income for the periods indicated: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized (In thousands) Single family $ 571 $ 7 $ 608 $ 7 Multi-family 296 5 311 5 Church 3,789 63 4,296 236 Commercial – other 46 1 62 1 Total $ 4,702 $ 76 $ 5,277 $ 249 Cash-basis interest income recognized represents cash received for interest payments on accruing impaired loans and interest recoveries on non-accrual loans that were paid off. Interest payments collected on non-accrual loans are characterized as payments of principal rather than payments of the outstanding accrued interest on the loans until the remaining principal on the non-accrual loans is considered to be fully collectible or paid off. When a loan is returned to accrual status, the interest payments that were previously applied to principal are deferred and amortized over the remaining life of the loan. Foregone interest income that would have been recognized had loans performed in accordance with their original terms amounted to $19 thousand and $23 thousand for the three months ended March 31, 2021 and 2020, respectively, and were not included in the consolidated results of operations. The following tables present the aging of the recorded investment in past due loans by loan type as of the periods indicated: March 31, 2021 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ - $ - $ - $ - $ 44,537 $ 44,537 Multi-family - - - - 281,046 281,046 Commercial real estate - - - - 24,164 24,164 Church - - - - 15,458 15,458 Construction - - - - 469 469 Commercial - other - - - - 54 54 Consumer - - - - 7 7 Total $ - $ - $ - $ - $ 365,735 $ 365,735 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ - $ - $ - $ - $ 48,357 $ 48,357 Multi-family - - - - 273,864 273,864 Commercial real estate - - - - 24,322 24,322 Church - - - - 16,308 16,308 Construction - - - - 430 430 Commercial - other - - - - 56 56 Consumer - - - - 7 7 Total $ - $ - $ - $ - $ 363,344 $ 363,344 The following table presents the recorded investment in non-accrual loans by loan type as of the periods indicated: March 31, 2021 December 31, 2020 (In thousands) Loans receivable held for investment: Single-family residence $ - $ 1 Church 760 786 Total non-accrual loans $ 760 $ 787 There were no loans 90 days or more delinquent that were accruing interest as of March 31, 2021 or December 31, 2020. Troubled Debt Restructurings At March 31, 2021, loans classified as troubled debt restructurings (“TDRs”) totaled $4.1 million, of which $221 thousand were included in non-accrual loans and $3.9 million were on accrual status. At December 31, 2020, loans classified as TDRs totaled $4.2 million, of which $232 thousand were included in non-accrual loans and $4.0 million were on accrual status. The Company has allocated $136 thousand and $141 thousand of specific reserves for TDRs as of March 31, 2021 and December 31, 2020, respectively. TDRs on accrual status are comprised of loans that were accruing at the time of restructuring or loans that have complied with the terms of their restructured agreements for a satisfactory period of time and for which the Bank anticipates full repayment of both principal and interest. TDRs that are on non-accrual status can be returned to accrual status after a period of sustained performance, generally determined to be six months of timely payments, as modified. A well-documented credit analysis that supports a return to accrual status based on the borrower’s financial condition and prospects for repayment under the revised terms is also required. As of March 31, 2021 and December 31, 2020, the Company had no commitment to lend additional amounts to customers with outstanding loans that are classified as TDRs. No loans were modified during the three months ended March 31, 2021 and 2020. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. For single family residential, consumer and other smaller balance homogenous loans, a credit grade is established at inception, and generally only adjusted based on performance. Information about payment status is disclosed elsewhere herein. The Company analyzes all other loans individually by classifying the loans as to credit risk. This analysis is performed at least on a quarterly basis. The Company uses the following definitions for risk ratings: ◾ Watch. ◾ Special Mention. ◾ Substandard. ◾ Doubtful. ◾ Loss. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Pass rated loans are generally well protected by the current net worth and paying capacity of the obligor and/or by the value of the underlying collateral. Pass rated loans are not more than 59 days past due and are generally performing in accordance with the loan terms. Based on the most recent analysis performed, the risk categories of loans by loan type as of the periods indicated were as follows: March 31, 2021 Pass Watch Special Mention Substandard Doubtful Loss (In thousands) Single family $ 44,536 $ ‑ $ - $ - $ - $ - Multi-family 280,689 - - 358 - - Commercial real estate 22,684 1,480 - ‑ - - Church 12,093 652 - 2,713 - - Construction 469 ‑ - ‑ - - Commercial - other 9 ‑ - 45 - - Consumer 7 ‑ - ‑ - - Total $ 360,487 $ 2,132 $ - $ 3,116 $ - $ - December 31, 2020 Pass Watch Special Mention Substandard Doubtful Loss (In thousands) Single family $ 48,357 $ ‑ $ - $ 1 $ - $ - Multi-family 273,501 - - 362 - - Commercial real estate 22,834 1,488 - ‑ - - Church 12,899 657 - 2,752 - - Construction 430 ‑ - ‑ - - Commercial - other 9 ‑ - 47 - - Consumer 7 ‑ - ‑ - - Total $ 358,037 $ 2,145 $ - $ 3,162 $ - $ -

Junior Subordinated Debentures

Junior Subordinated Debentures	3 Months Ended
	Mar. 31, 2021
Junior Subordinated Debentures [Abstract]
Junior Subordinated Debentures	NOTE (6) Junior Subordinated Debentures On March 17, 2004, the Company issued $6.0 million of Floating Rate Junior Subordinated Debentures (the “Debentures”) in a private placement to a trust that was capitalized to purchase subordinated debt and preferred stock of multiple community banks. Interest on the Debentures is payable quarterly at a rate per annum equal to the 3-Month LIBOR plus 2.54%. The interest rate is determined as of each March 17, June 17, September 17, and December 17, and was 2.72% at March 31, 2021. On October 16, 2014, the Company made payments of $900 thousand of principal on Debentures, executed a Supplemental Indenture for the Debentures that extended the maturity of the Debentures to March 17, 2024, and modified the payment terms of the remaining $5.1 million principal amount thereof. The modified terms of the Debentures required quarterly payments of interest only through March 2019 at the original rate of 3-Month LIBOR plus 2.54%. Starting in June 2019, the Company began making quarterly payments of equal amounts of principal, plus interest, and will continue until the Debentures are fully amortized on March 17, 2024. At March 31, 2021, the Company had repaid a total of $2.0 million of the scheduled principal. The Debentures may be called for redemption at any time by the Company.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2021
Fair Value [Abstract]
Fair Value	NOTE (7) Fair Value The Company used the following methods and significant assumptions to estimate fair value: The fair values of securities available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The fair value of impaired loans that are collateral dependent is generally based upon the fair value of the collateral, which is obtained from recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Assets acquired through or by transfer in lieu of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at the lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated every nine months. These appraisals may utilize a single valuation approach or a combination of approaches, including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for collateral-dependent impaired loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, an independent third-party licensed appraiser reviews the appraisals for accuracy and reasonableness, reviewing the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Assets Measured on a Recurring Basis Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurement Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In thousands) At March 31, 2021: Securities available-for-sale – federal agency mortgage-backed $ - $ 5,261 $ - $ 5,261 Securities available-for-sale – federal agency debt - 2,782 - 2,782 Municipal bonds - 1,980 - 1,980 At December 31, 2020: Securities available-for-sale – federal agency mortgage-backed $ - $ 5,807 $ - $ 5,807 Securities available-for-sale – federal agency debt - 2,872 - 2,872 Municipal bonds - 2,019 - 2,019 There were no transfers between Level 1, Level 2, or Level 3 during the three months ended March 31, 2021 and 2020. Assets Measured on a Non-Recurring Basis Assets are considered to be reflected at fair value on a non-recurring basis if the fair value measurement of the instrument does not necessarily result in a change in the amount recorded on the statement of condition. Generally, a non-recurring valuation is the result of the application of other accounting pronouncements that require assets to be assessed for impairment or recorded at the lower of cost or fair value. As of March 31, 2021 and December 31, 2020, the Bank did not have any impaired loans carried at fair value of collateral. Fair Values of Financial Instruments The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of March 31, 2021 and December 31, 2020. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and due from banks, interest-bearing deposits in other banks, and accrued interest receivable/payable, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For non-marketable equity securities such as Federal Home Loan Bank stock, the carrying amount is a reasonable estimate of fair value as these securities can only be redeemed or sold at their par value and only to the respective issuing government supported institution or to another member institution. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity. Fair Value Measurements at March 31, 2021 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 88,156 $ 88,156 $ - $ - $ 88,156 Securities available-for-sale 9,716 - 10,023 - 10,023 Loans receivable held for investment 362,520 - - 370,702 370,702 Accrued interest receivable 1,157 82 12 1,063 1,157 Bank owned life insurance 3,157 3,157 - - 3,157 Financial Liabilities: Time Deposits $ 312,315 $ - $ 303,598 $ - $ 303,598 Federal Home Loan Bank advances 110,500 - 112,778 - 112,778 Junior subordinated debentures 3,060 - - 2,570 2,570 Accrued interest payable 37 - 34 3 37 Fair Value Measurements at December 31, 2020 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 96,109 $ 96,109 $ - $ - $ 96,109 Securities available-for-sale 10,698 - 10,698 - 10,698 Loans receivable held for investment 360,129 - - 366,279 366,279 Accrued interest receivable 1,202 60 14 1,128 1,202 Bank owned life insurance 3,147 3,147 - - 3,147 Financial Liabilities: Time Deposits $ 315,630 $ - $ 312,725 $ - $ 312,725 Federal Home Loan Bank advances 110,500 - 113,851 - 113,851 Junior subordinated debentures 3,315 - - 2,798 2,798 Accrued interest payable 88 - 84 4 88 In accordance with the adoption of ASU No. 2016-01, the fair value of certain financial assets and liabilities, including loans, time deposits, and junior subordinated debentures, as of March 31, 2021 was measured using an exit price notion. Although the exit price notion represents the value that would be received to sell an asset or paid to transfer a liability, the actual price received for a sale of assets or paid to transfer liabilities could be different from exit price disclosed.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2021
Stock-based Compensation [Abstract]
Stock-based Compensation	NOTE (8) – Stock-based Compensation The Long-Term Incentive Plan, which was adopted by the Company and approved by the stockholders in 2018 (the “LTIP”), permits the grant of non-qualified and incentive stock options, stock appreciation rights, full value awards and cash incentive awards. The plan is in effect for ten years. The maximum number of shares that can be awarded under the plan is 1,293,109 shares of common stock as of December 31, 2018. As of March 31, 2021, 490,007 shares had been awarded and 803,102 shares are available under the 2018 LTIP. In February 2021 and 2020, the Company awarded 20,736 and 30,930 shares of common stock, respectively, to its directors under the 2018 LTIP, which are fully vested. The Company recorded $45 thousand of compensation expense for each quarter ended March 31, 2021 and March 31, 2020, based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award. In February 2019, the Company awarded 428,797 shares of restricted stock to its officers and employees under the 2018 LTIP, of which 12,846 shares were forfeited. Each restricted stock award is valued based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award. These awarded shares of restricted stock are fully vested over a two-year period from their respective dates of grants. Stock based compensation expense is recognized on a straight-line basis over the vesting period. In February 2021, these awards fully vested, and the Company recorded $44 thousand of the related scheduled stock based compensation expense. In February 2020, the Company awarded 140,218 shares of restricted stock to its officers and employees under the 2018 LTIP. Each restricted stock award is valued based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award. These awarded shares of restricted stock fully vest over a two-year period from their respective dates of grant. Stock based compensation expense is recognized on a straight-line basis over the vesting period. As of March 31, 2021, these awards became fully vested as a result of the CFBanc Merger. During the quarter ended March 31, 2021, the Company recorded $119 thousand of stock based compensation expense related to these awards, of which $94 thousand related to early recognition of compensation cost as a result of the vesting of restricted stock awards in connection with the CFBanc Merger. At March 31, 2021, no restricted stock awards were outstanding, and during the first quarter ended March 31, 2021, the Company did not grant any restricted stock awards to its officers and employees. No stock options were granted during the three months ended March 31, 2021 and 2020. The following table summarizes stock option activity during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Number Outstanding Weighted Average Exercise Price Number Outstanding Weighted Average Exercise Price Outstanding at beginning of period 450,000 $ 1.62 455,000 $ 1.67 Granted during period - - - - Exercised during period - - - - Forfeited or expired during period - - (5,000 ) 6.00 Outstanding at end of period 450,000 $ 1.62 450,000 $ 1.62 Exercisable at end of period 450,000 $ 1.62 360,000 $ 1.62 The Company recorded $6 thousand and $9 thousand of stock-based compensation expense related to stock options during the three months ended March 31, 2021 and 2020. In February compensation cost was recognized. Options outstanding and exercisable at March 31, 2021 were as follows: Outstanding Exercisable Grant Date Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Number Outstanding Weighted Average Exercise Price Aggregate Intrinsic Value February 24, 2016 450,000 4.98 years $ 1.62 450,000 $ 1.62 450,000 4.98 years $ 1.62 $ 157,500 450,000 $ 1.62 $ 157,500

ESOP

ESOP	3 Months Ended
	Mar. 31, 2021
ESOP [Abstract]
ESOP	NOTE (9) – ESOP Employees participate in the Employee Stock Ownership Plan (“ESOP”) after attaining certain age and service requirements. In December 2016, the ESOP purchased 1,493,679 shares of the Company’s common stock at $1.59 per share, for a total cost of $2.4 million, of which $1.2 million was funded with a loan from the Company. The loan will be repaid from the Bank’s annual discretionary contributions to the ESOP, net of dividends paid, over a period of 20 years. Shares of the Company’s common stock purchased by the ESOP are held in a suspense account until released for allocation to participants. When loan payments are made, shares are allocated to each eligible participant based on the ratio of each such participant’s compensation, as defined in the ESOP, to the total compensation of all eligible plan participants. As the unearned shares are released from the suspense account, the Company recognizes compensation expense equal to the fair value of the ESOP shares during the periods in which they become committed to be released. To the extent that the fair value of the ESOP shares released differs from the cost of such shares, the difference is charged or credited to equity as additional paid-in capital. Any dividends on allocated shares increase participant accounts. Any dividends on unallocated shares will be used to repay the loan. Participants will receive shares for their vested balance at the end of their employment. Compensation expense related to the ESOP was $23 thousand and $17 thousand for the three months ended March 31, 2021 and 2020, respectively. Shares held by the ESOP were as follows: March 31, 2021 December 31, 2020 (Dollars in thousands) Allocated to participants 1,065,275 1,065,275 Committed to be released 20,472 10,236 Suspense shares 552,155 562,391 Total ESOP shares 1,637,902 1,637,902 Fair value of unearned shares $ 1,268 $ 1,040 At March 31, 2021, 20,472 of ESOP shares were committed to be allocated to participants during 2021. During 2020 and 2019, 41,665 and 43,321 of ESOP shares were released for allocation to participants, respectively. Unearned shares, which are reported as Unearned ESOP shares in the equity section of the consolidated statements of financial condition, were $877 thousand and $893 thousand at March 31, 2021 and December 31, 2020, respectively.

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2021
Regulatory Matters [Abstract]
Regulatory Matters	NOTE (10) – Regulatory Matters The Bank’s capital requirements are administered by the Office of the Comptroller of the Currency (“OCC”) and involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by the OCC. Failure to meet capital requirements can result in regulatory action. The federal banking regulators approved final capital rules (“Basel III Capital Rules”) in July 2013 implementing the Basel III framework as well as certain provisions of the Dodd-Frank Act. The Basel III Capital Rules prescribe a standardized approach for calculating risk-weighted assets and revised the definition and calculation of Tier 1 capital and Total capital, and include a new Common Equity Tier 1 capital (“CET1”) measure. Under the Basel III Capital Rules, the currently effective minimum capital ratios are: • 4.5% CET1 to risk-weighted assets; • 6.0% Tier 1 capital (that is, CET1 plus Additional Tier 1 capital) to risk-weighted assets; • 8.0% Total capital (that is, Tier 1 capital plus Tier 2 capital) to risk-weighted assets; and • 4.0% Tier 1 capital to average consolidated assets (known as the “leverage ratio”). A capital conservation buffer was also established above the regulatory minimum capital requirements. This capital conservation buffer was phased in beginning January 1, 2016 at 0.625% of risk-weighted assets and increased each subsequent year by an additional 0.625% until it reached its final level of 2.5% on January 1, 2019. The Basel III Capital rules also contain revisions to the prompt corrective action framework, which is designed to place restrictions on insured depository institutions if their capital levels begin to show signs of weakness. Under the prompt corrective action requirements, which are designed to complement the capital conservation buffer, insured depository institutions are now required to meet the following increased capital level requirements in order to qualify as “well capitalized”: (i) a CET1 capital ratio of 6.5%; (ii) a Tier 1 capital ratio of 8% (increased from 6%); (iii) a total capital ratio of 10% (unchanged from previous rules); and (iv) a Tier 1 leverage ratio of 5% (unchanged from previous rules). The Basel III Capital Rules became effective for the Bank on January 1, 2015 (subject to a phase-in period for certain provisions). At March 31, 2021 and December 31, 2020, the Bank’s level of capital exceeded all regulatory capital requirements and its regulatory capital ratios were above the minimum levels required to be considered well capitalized for regulatory purposes. Actual and required capital amounts and ratios as of the periods indicated are presented below. Actual Minimum Capital Requirements Minimum Required To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio (1) Amount Ratio (Dollars in thousands) March 31, 2021: Tier 1 (Leverage) $ 42,580 8.89 % $ 19,164 4.00 % $ 23,954 5.00 % Common Equity Tier 1 $ 42,580 16.70 % $ 11,477 4.50 % $ 16,577 6.50 % Tier 1 $ 42,580 16.70 % $ 15,302 6.00 % $ 20,403 8.00 % Total Capital $ 45,769 17.95 % $ 20,403 8.00 % $ 25,504 10.00 % December 31, 2020: Tier 1 (Leverage) $ 46,565 9.54 % $ 19,530 4.00 % $ 24,413 5.00 % Common Equity Tier 1 $ 46,565 18.95 % $ 11,059 4.50 % $ 15,975 6.50 % Tier 1 $ 46,565 18.95 % $ 14,746 6.00 % $ 19,661 8.00 % Total Capital $ 49,802 20.20 % $ 19,661 8.00 % $ 24,577 10.00 % (1) Without conservation buffer At March 31, 2021 and December 31, 2020, the Bank did not opt into the Community Bank Leverage Ratio framework.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Taxes [Abstract]
Income Taxes	NOTE (11) – Income Taxes The Company and its subsidiary are subject to U.S. federal and state income taxes. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluated both positive and negative evidence, including the existence of cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income and tax planning strategies. Based on this analysis, the Company determined that no valuation allowance was required on its deferred tax assets, which totaled $7.1 million and $5.6 million as of March 31, 2021 and December 31, 2020. The Company expects to record an impairment allowance on its deferred tax assets during the second quarter of 2021 because the number of shares sold in the private placements completed on April 6, 2021 exceeded the threshold under the federal tax code that triggers limitations on the use of those assets. Based on currently available data and the stock price on the merger date, the write-down is expected to be approximately $700 thousand.

Concentration of Deposit Risk

Concentration of Deposit Risk	3 Months Ended
	Mar. 31, 2021
Concentration of Deposit Risk [Abstract]
Concentration of Deposit Risk	NOTE (12) – Concentration of Deposit Risk The Bank has a significant concentration of deposits with two customers that accounted for approximately 13% of its deposits as of March 31, 2021. The Bank expects to maintain the relationships with these customers for the foreseeable future.

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Basis of Financial Statement Presentation [Abstract]
Consolidation	The accompanying unaudited consolidated financial statements include Broadway Financial Corporation (the “Company”) and its wholly owned subsidiary, Broadway Federal Bank, f.s.b. (the “Bank”, and collectively, with the Company, “Broadway”). Also included in the unaudited consolidated financial statements is Broadway Service Corporation, a wholly owned subsidiary of the Bank. All significant intercompany balances and transactions have been eliminated in consolidation.
Basis of Presentation	The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for quarterly reports on Form 10-Q. These unaudited consolidated financial statements do not include all disclosures associated with the Company’s consolidated annual financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2020 and, accordingly, should be read in conjunction with such audited consolidated financial statements. In the opinion of management, all adjustments (all of which are normal and recurring in nature) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. See Note 2.
Accounting Pronouncements to Be Adopted and Accounting Pronouncements Yet to Be Adopted	Accounting Pronouncements to Be Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides optional expedients and exceptions regarding the accounting related to the modifications of certain contracts, relationships and other transactions that are affected by reference rate reform related to contracts that reference LIBOR or other reference rates that could be discontinued due to reference rate reform. This guidance was effective immediately and the amendments may be applied prospectively through December 31, 2022. The estimated financial impact has not yet been determined. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The amendments in this ASU are intended to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments are also intended to improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The guidance did not have a significant impact on the Company’s consolidated financial statements. Accounting Pronouncements Yet to Be Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (“CECL”) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held-to-maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. For debt securities with other-than-temporary impairment, the guidance will be applied prospectively. Existing purchased credit impaired (“PCI”) assets will be grandfathered and classified as purchased credit deteriorated (“PCD”) assets at the date of adoption. The asset will be grossed up for the allowance for expected credit losses for all PCD assets at the date of adoption and the noncredit discount in interest income based on the yield of such assets as of the adoption date. Subsequent changes in expected credit losses will be recorded through the allowance. For all other assets within the scope of CECL, a cumulative-effect adjustment will be recognized in retained earnings as of the beginning of the first reporting period in which the guidance is effective. On October 16, 2019, the FASB voted to affirm the proposed amended effective date for ASU 2016-13 for smaller reporting companies (“SRCs”) as defined by the SEC. The final ASU, which was issued in November 2019, delays the implementation date for ASU 2016-13 to fiscal years beginning after December 15, 2022. SRCs are defined as companies with less than $250 million of public float or less than $100 million in annual revenues for the previous year and no public float or public float of less than $700 million. The Company qualifies as an SRC, and management will implement ASU 2016-13 in the first quarter of 2023. The estimated financial impact has not yet been determined. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This ASU is effective January 1, 2020 and clarifies the scope of the credit losses standard and addresses issues related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other things. The amendments to Topic 326 have the same effective dates as ASU 2016-13. This guidance did not have a significant impact on the Company’s consolidated financial statements. In May 2019, the FASB issued ASU No. 2019-05, Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief. This ASU allows entities to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible financial assets measured at amortized cost basis upon adoption of the credit loss standards. The effective date for this ASU is the same as for ASU 2016-13. We will evaluate this ASU in conjunction with ASU 2016-13 to determine its impact on our financial condition and results of operations.

Acquisition of CFBanc Corpora_2

Acquisition of CFBanc Corporation (Tables)	3 Months Ended
	Mar. 31, 2021
Acquisition of CFBanc Corporation [Abstract]
Unaudited Pro Forma Information	The unaudited pro forma information in the following table is intended for informational purposes only and is not necessarily indicative of future operating results or operating results that would have occurred had the mergers been completed at the beginning of each respective year. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions. Three Months Ended Twelve Months Ended December 31, 2020 (Dollars in thousands, except per share) (Unaudited) Net interest income $ 5,633 $ 23,781 Net income $ (3,873 ) $ 1,571 Basic earnings per share $ (0.07 ) $ 0.03 Diluted earnings per share $ (0.07 ) $ 0.03
Common Stock Issued Result of Merger and Result of Private Placements by Class	The following table shows the common stock issued on April 1, 2021 as a result of the merger and on April 6, 2021 as a result of the private placements by class: Common Shares Outstanding Voting Class A Nonvoting Nonvoting Total Shares Shares outstanding March 31, 2021: 19,142,498 - 8,756,396 27,898,894 Shares issued in merger 13,999,870 11,404,621 - 25,404,491 Shares exchanged post-merger (681,300 ) - 681,300 - Shares cancelled (52,105 ) - - (52,105 ) Shares issued in private placements 11,221,921 - 7,252,079 18,474,000 Shares outstanding April 6, 2021: 43,630,884 11,404,621 16,689,775 71,725,280

Loss Per Share of Common Stock

Loss Per Share of Common Stock (Tables)	3 Months Ended
	Mar. 31, 2021
Loss Per Share of Common Stock [Abstract]
Basic and Diluted Earnings Per Share of Common Stock	The following table shows how the Company computed basic and diluted earnings per share of common stock for the periods indicated: For the three months ended March 31, 2021 2020 (In thousands, except share and per share data) Net loss $ (3,487 ) $ (33 ) Less net income attributable to participating securities - - Net loss available to common stockholders $ (3,487 ) $ (33 ) Weighted average common shares outstanding for basic earnings per common share 27,357,750 26,962,317 Add: dilutive effects of assumed exercises of stock options - - Weighted average common shares outstanding for diluted earnings per common share 27,357,750 26,962,317 Loss per common share - basic $ (0.13 ) $ (0.00 ) Loss per common share - diluted $ (0.13 ) $ (0.00 )

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Securities [Abstract]
Available-for-Sale Investment Securities Portfolios	The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the periods indicated and the corresponding amounts of unrealized gains which were recognized in accumulated other comprehensive income: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2021: Federal agency mortgage-backed securities $ 5,033 $ 228 $ - $ 5,261 Federal agency debt 2,682 100 - 2,782 Municipal bonds 2,000 6 (26 ) 1,980 Total available-for-sale securities $ 9,715 $ 334 $ (26 ) $ 10,023 December 31, 2020: Federal agency mortgage-backed securities $ 5,550 $ 257 $ - $ 5,807 Federal agency debt 2,682 190 - 2,872 Municipal bonds 2,000 19 - 2,019 Total available-for-sale securities $ 10,232 $ 466 $ - $ 10,698

Loans Receivable Held for Inv_2

Loans Receivable Held for Investment (Tables)	3 Months Ended
	Mar. 31, 2021
Loans Receivable Held for Investment [Abstract]
Loans Receivable Held for Investment	Loans receivable held for investment were as follows as of the periods indicated: March 31, 2021 December 31, 2020 (In thousands) Real estate: Single family $ 44,402 $ 48,217 Multi-family 279,554 272,387 Commercial real estate 24,129 24,289 Church 15,799 16,658 Construction 469 429 Commercial – other 54 57 Consumer 7 7 Gross loans receivable before deferred loan costs and premiums 364,414 362,044 Unamortized net deferred loan costs and premiums 1,321 1,300 Gross loans receivable 365,735 363,344 Allowance for loan losses (3,215 ) (3,215 ) Loans receivable, net $ 362,520 $ 360,129
Activity in Allowance for Loan Losses by Loan Type	The following tables present the activity in the allowance for loan losses by loan type for the periods indicated: Three Months Ended March 31, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Beginning balance $ 296 $ 2,433 $ 222 $ 237 $ 22 $ 4 $ 1 $ 3,215 Provision for (recapture of) loan losses (21 ) 40 (3 ) (16 ) - 1 (1 ) - Recoveries - - - - - - - - Loans charged off - - - - - - - - Ending balance $ 275 $ 2,473 $ 219 $ 221 $ 22 $ 5 $ - $ 3,215 Three Months Ended March 31, 2020 Real Estate Single Multi- family Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Beginning balance $ 312 $ 2,319 $ 133 $ 362 $ 48 $ 7 $ 1 $ 3,182 Provision for (recapture of) loan losses (4 ) 89 7 (39 ) (24 ) - - 29 Recoveries - - - - - - - - Loans charged off - - - - - - - - Ending balance $ 308 $ 2,408 $ 140 $ 323 $ 24 $ 7 $ 1 $ 3,211
Allowance for Loan Losses and Recorded Investment in Loans by Type of Loans and Based on Impairment Method	The following tables present the balance in the allowance for loan losses and the recorded investment (unpaid contractual principal balance less charge-offs, less interest applied to principal, plus unamortized deferred costs and premiums) by loan type and based on impairment method as of and for the periods indicated: March 31, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 87 $ - $ - $ 48 $ - $ 1 $ - $ 136 Collectively evaluated for impairment 188 2,473 219 173 22 4 - 3,079 Total ending allowance balance $ 275 $ 2,473 $ 219 $ 221 $ 22 $ 5 $ - $ 3,215 Loans: Loans individually evaluated for impairment $ 568 $ 293 $ - $ 3,765 $ - $ 45 $ - $ 4,671 Loans collectively evaluated for impairment 43,969 280,753 24,164 11,693 469 9 7 361,064 Total ending loans balance $ 44,537 $ 281,046 $ 24,164 $ 15,458 $ 469 $ 54 $ 7 $ 365,735 December 31, 2020 Real Estate Single family Multi- Commercial real estate Church Construction Commercial - other Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 89 $ - $ - $ 52 $ - $ $ - $ 141 Collectively evaluated for impairment 207 2,433 222 185 22 4 1 3,074 Total ending allowance balance $ 296 $ 2,433 $ 222 $ 237 $ 22 $ 4 $ 1 $ 3,215 Loans: Loans individually evaluated for impairment $ 573 $ 298 $ - $ 3,813 $ - $ 47 $ - $ 4,731 Loans collectively evaluated for impairment 47,784 273,566 24,322 12,495 430 9 7 358,613 Total ending loans balance $ 48,357 $ 273,864 $ 24,322 $ 16,308 $ 430 $ 56 $ 7 $ 363,344
Loans Individually Evaluated for Impairment by Loan Type	The following table presents information related to loans individually evaluated for impairment by loan type as of the periods indicated: March 31, 2021 December 31, 2020 Unpaid Principal Recorded Investment Allowance for Loan Losses Allocated Unpaid Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Single family $ - $ - $ - $ 2 $ 1 $ - Multi-family 293 293 - 298 298 - Church 2,507 1,942 - 2,527 1,970 - With an allowance recorded: Single family 568 568 87 573 573 88 Church 1,823 1,823 48 1,842 1,842 52 Commercial - other 45 45 1 47 47 1 Total $ 5,236 $ 4,671 $ 136 $ 5,289 $ 4,731 $ 141
Average of Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income	The following tables present the monthly average of loans individually evaluated for impairment by loan type and the related interest income for the periods indicated: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized (In thousands) Single family $ 571 $ 7 $ 608 $ 7 Multi-family 296 5 311 5 Church 3,789 63 4,296 236 Commercial – other 46 1 62 1 Total $ 4,702 $ 76 $ 5,277 $ 249
Aging of Recorded Investment in Past Due Loans by Loan Type	The following tables present the aging of the recorded investment in past due loans by loan type as of the periods indicated: March 31, 2021 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ - $ - $ - $ - $ 44,537 $ 44,537 Multi-family - - - - 281,046 281,046 Commercial real estate - - - - 24,164 24,164 Church - - - - 15,458 15,458 Construction - - - - 469 469 Commercial - other - - - - 54 54 Consumer - - - - 7 7 Total $ - $ - $ - $ - $ 365,735 $ 365,735 December 31, 2020 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total (In thousands) Loans receivable held for investment: Single family $ - $ - $ - $ - $ 48,357 $ 48,357 Multi-family - - - - 273,864 273,864 Commercial real estate - - - - 24,322 24,322 Church - - - - 16,308 16,308 Construction - - - - 430 430 Commercial - other - - - - 56 56 Consumer - - - - 7 7 Total $ - $ - $ - $ - $ 363,344 $ 363,344
Recorded Investment in Non-accrual Loans by Loan Type	The following table presents the recorded investment in non-accrual loans by loan type as of the periods indicated: March 31, 2021 December 31, 2020 (In thousands) Loans receivable held for investment: Single-family residence $ - $ 1 Church 760 786 Total non-accrual loans $ 760 $ 787
Risk Categories of Loans by Loan Type	Based on the most recent analysis performed, the risk categories of loans by loan type as of the periods indicated were as follows: March 31, 2021 Pass Watch Special Mention Substandard Doubtful Loss (In thousands) Single family $ 44,536 $ ‑ $ - $ - $ - $ - Multi-family 280,689 - - 358 - - Commercial real estate 22,684 1,480 - ‑ - - Church 12,093 652 - 2,713 - - Construction 469 ‑ - ‑ - - Commercial - other 9 ‑ - 45 - - Consumer 7 ‑ - ‑ - - Total $ 360,487 $ 2,132 $ - $ 3,116 $ - $ - December 31, 2020 Pass Watch Special Mention Substandard Doubtful Loss (In thousands) Single family $ 48,357 $ ‑ $ - $ 1 $ - $ - Multi-family 273,501 - - 362 - - Commercial real estate 22,834 1,488 - ‑ - - Church 12,899 657 - 2,752 - - Construction 430 ‑ - ‑ - - Commercial - other 9 ‑ - 47 - - Consumer 7 ‑ - ‑ - - Total $ 358,037 $ 2,145 $ - $ 3,162 $ - $ -

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value [Abstract]
Assets Measured on Recurring Basis	Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurement Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In thousands) At March 31, 2021: Securities available-for-sale – federal agency mortgage-backed $ - $ 5,261 $ - $ 5,261 Securities available-for-sale – federal agency debt - 2,782 - 2,782 Municipal bonds - 1,980 - 1,980 At December 31, 2020: Securities available-for-sale – federal agency mortgage-backed $ - $ 5,807 $ - $ 5,807 Securities available-for-sale – federal agency debt - 2,872 - 2,872 Municipal bonds - 2,019 - 2,019
Fair Values of Financial Instruments	For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity. Fair Value Measurements at March 31, 2021 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 88,156 $ 88,156 $ - $ - $ 88,156 Securities available-for-sale 9,716 - 10,023 - 10,023 Loans receivable held for investment 362,520 - - 370,702 370,702 Accrued interest receivable 1,157 82 12 1,063 1,157 Bank owned life insurance 3,157 3,157 - - 3,157 Financial Liabilities: Time Deposits $ 312,315 $ - $ 303,598 $ - $ 303,598 Federal Home Loan Bank advances 110,500 - 112,778 - 112,778 Junior subordinated debentures 3,060 - - 2,570 2,570 Accrued interest payable 37 - 34 3 37 Fair Value Measurements at December 31, 2020 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 96,109 $ 96,109 $ - $ - $ 96,109 Securities available-for-sale 10,698 - 10,698 - 10,698 Loans receivable held for investment 360,129 - - 366,279 366,279 Accrued interest receivable 1,202 60 14 1,128 1,202 Bank owned life insurance 3,147 3,147 - - 3,147 Financial Liabilities: Time Deposits $ 315,630 $ - $ 312,725 $ - $ 312,725 Federal Home Loan Bank advances 110,500 - 113,851 - 113,851 Junior subordinated debentures 3,315 - - 2,798 2,798 Accrued interest payable 88 - 84 4 88

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Stock-based Compensation [Abstract]
Summary of Stock Option Activity	The following table summarizes stock option activity during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Number Outstanding Weighted Average Exercise Price Number Outstanding Weighted Average Exercise Price Outstanding at beginning of period 450,000 $ 1.62 455,000 $ 1.67 Granted during period - - - - Exercised during period - - - - Forfeited or expired during period - - (5,000 ) 6.00 Outstanding at end of period 450,000 $ 1.62 450,000 $ 1.62 Exercisable at end of period 450,000 $ 1.62 360,000 $ 1.62
Options Outstanding and Exercisable	Options outstanding and exercisable at March 31, 2021 were as follows: Outstanding Exercisable Grant Date Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Number Outstanding Weighted Average Exercise Price Aggregate Intrinsic Value February 24, 2016 450,000 4.98 years $ 1.62 450,000 $ 1.62 450,000 4.98 years $ 1.62 $ 157,500 450,000 $ 1.62 $ 157,500

ESOP (Tables)

ESOP (Tables)	3 Months Ended
	Mar. 31, 2021
ESOP [Abstract]
Shares Held by ESOP	Shares held by the ESOP were as follows: March 31, 2021 December 31, 2020 (Dollars in thousands) Allocated to participants 1,065,275 1,065,275 Committed to be released 20,472 10,236 Suspense shares 552,155 562,391 Total ESOP shares 1,637,902 1,637,902 Fair value of unearned shares $ 1,268 $ 1,040

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2021
Regulatory Matters [Abstract]
Actual and Required Capital Amounts and Ratios	Actual and required capital amounts and ratios as of the periods indicated are presented below. Actual Minimum Capital Requirements Minimum Required To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio (1) Amount Ratio (Dollars in thousands) March 31, 2021: Tier 1 (Leverage) $ 42,580 8.89 % $ 19,164 4.00 % $ 23,954 5.00 % Common Equity Tier 1 $ 42,580 16.70 % $ 11,477 4.50 % $ 16,577 6.50 % Tier 1 $ 42,580 16.70 % $ 15,302 6.00 % $ 20,403 8.00 % Total Capital $ 45,769 17.95 % $ 20,403 8.00 % $ 25,504 10.00 % December 31, 2020: Tier 1 (Leverage) $ 46,565 9.54 % $ 19,530 4.00 % $ 24,413 5.00 % Common Equity Tier 1 $ 46,565 18.95 % $ 11,059 4.50 % $ 15,975 6.50 % Tier 1 $ 46,565 18.95 % $ 14,746 6.00 % $ 19,661 8.00 % Total Capital $ 49,802 20.20 % $ 19,661 8.00 % $ 24,577 10.00 % (1) Without conservation buffer

Acquisition of CFBanc Corpora_3

Acquisition of CFBanc Corporation (Details) $ / shares in Units, $ in Thousands	Apr. 06, 2021$ / sharesshares	Apr. 06, 2021USD ($)$ / sharesshares	Apr. 02, 2021$ / shares	Mar. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / shares
Unaudited pro forma information [Abstract]
Net interest income | $				$ 5,633	$ 23,781
Net income | $				$ (3,873)	$ 1,571
Basic earnings per share (in dollars per share) | $ / shares				$ (0.07)	$ 0.03
Diluted earnings per share (in dollars per share) | $ / shares				$ (0.07)	0.03
Common Stock Issued by Class [Abstract]
Shares outstanding (in shares)	27,898,894
Shares outstanding (in shares)				27,898,894
Subsequent Event [Member]
Common Stock Issued by Class [Abstract]
Shares issued in merger (in shares)	25,404,491
Shares exchanged post-merger (in shares)	0
Shares cancelled (in shares)	(52,105)
Shares issued in private placements (in shares)	18,474,000
Shares outstanding (in shares)	71,725,280	71,725,280
Subsequent Event [Member] | Private Placement [Member]
Acquisition [Abstract]
Purchase price of common stock (in dollars per share) | $ / shares	$ 1.78	$ 1.78
Aggregate purchase price | $		$ 32,900
Common Stock Voting [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares				$ 0.01	0.01
Common Stock Voting [Member] | Subsequent Event [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01
Share conversion ratio			13.626
Common Stock Non-Voting [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares				$ 0.01	$ 0.01
Common Stock Non-Voting [Member] | Subsequent Event [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01
Series A Preferred Stock [Member] | Subsequent Event [Member]
Acquisition [Abstract]
Share conversion ratio			1
Voting Class A Common Stock [Member]
Common Stock Issued by Class [Abstract]
Shares outstanding (in shares)	19,142,498
Shares outstanding (in shares)				19,142,498
Voting Class A Common Stock [Member] | Subsequent Event [Member]
Common Stock Issued by Class [Abstract]
Shares issued in merger (in shares)	13,999,870
Shares exchanged post-merger (in shares)	(681,300)
Shares cancelled (in shares)	(52,105)
Shares issued in private placements (in shares)	11,221,921
Shares outstanding (in shares)	43,630,884	43,630,884
Nonvoting Class B Common Stock [Member]
Common Stock Issued by Class [Abstract]
Shares outstanding (in shares)	0
Shares outstanding (in shares)				0
Nonvoting Class B Common Stock [Member] | Subsequent Event [Member]
Common Stock Issued by Class [Abstract]
Shares issued in merger (in shares)	11,404,621
Shares exchanged post-merger (in shares)	0
Shares cancelled (in shares)	0
Shares issued in private placements (in shares)	0
Shares outstanding (in shares)	11,404,621	11,404,621
Nonvoting Class C Common Stock [Member]
Common Stock Issued by Class [Abstract]
Shares outstanding (in shares)	8,756,396
Shares outstanding (in shares)				8,756,396
Nonvoting Class C Common Stock [Member] | Subsequent Event [Member]
Common Stock Issued by Class [Abstract]
Shares issued in merger (in shares)	0
Shares exchanged post-merger (in shares)	681,300
Shares cancelled (in shares)	0
Shares issued in private placements (in shares)	7,252,079
Shares outstanding (in shares)	16,689,775	16,689,775
CFBanc Corporation [Member] | Common Class A [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares				$ 0.50
CFBanc Corporation [Member] | Common Class B [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares				0.50
CFBanc Corporation [Member] | Series B Preferred Stock [Member]
Acquisition [Abstract]
Common stock, par value (in dollars per share) | $ / shares				$ 0.50

Loss Per Share of Common Stoc_2

Loss Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share Reconciliation [Abstract]
Net loss	$ (3,487)	$ (33)
Less net income attributable to participating securities	0	0
Net loss available to common stockholders	$ (3,487)	$ (33)
Weighted average common shares outstanding for basic earnings per common share (in shares)	27,357,750	26,962,317
Add: dilutive effects of assumed exercises of stock options (in shares)	0	0
Weighted average common shares outstanding for diluted earnings per common share (in shares)	27,357,750	26,962,317
Loss per common share-basic (in dollars per share)	$ (0.13)	$ 0
Loss per common share-diluted (in dollars per share)	$ (0.13)	$ 0
Stock Options [Member]
Earnings Per Share of Common Stock [Abstract]
Anti-dilutive stock not considered in computing diluted earnings per common share (in shares)	450,000	455,000

Securities (Details)

Securities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)security	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)security
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 9,715		$ 10,232
Gross unrealized gains	334		466
Gross unrealized losses	(26)		0
Fair value	10,023		10,698
Securities pledged to secure public deposits	0		0
Securities of any one issuer, other than U.S. Government, exceeding 10% of stockholders' equity	0		$ 0
Purchase of securities	0	$ 0
Sales of securities	$ 0	$ 0
Number of securities held with unrealized gains | security	23		29
Number of securities held with unrealized losses | security	4		0
Federal Agency Mortgage-backed Securities [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 5,033		$ 5,550
Gross unrealized gains	228		257
Gross unrealized losses	0		0
Fair value	$ 5,261		5,807
Number of securities held | security	20
Estimated average remaining life	3 years 4 months 24 days
Federal Agency Debt [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 2,682		2,682
Gross unrealized gains	100		190
Gross unrealized losses	0		0
Fair value	$ 2,782		2,872
Number of securities held | security	2
Estimated average remaining life	4 years 4 months 24 days
Municipal Bonds [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 2,000		2,000
Gross unrealized gains	6		19
Gross unrealized losses	(26)		0
Fair value	$ 1,980		$ 2,019
Number of securities held | security	5
Estimated average remaining life	6 years 6 months

Loans Receivable Held for Inv_3

Loans Receivable Held for Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	$ 364,414	$ 362,044
Unamortized net deferred loan costs and premiums	1,321	1,300
Gross loans receivable	365,735	363,344
Allowance for loan losses	(3,215)	(3,215)	$ (3,211)	$ (3,182)
Loans receivable, net	362,520	360,129
Real Estate [Member] | Single Family [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	44,402	48,217
Gross loans receivable	44,537	48,357
Allowance for loan losses	(275)	(296)	(308)	(312)
Real Estate [Member] | Multi-Family [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	279,554	272,387
Gross loans receivable	281,046	273,864
Allowance for loan losses	(2,473)	(2,433)	(2,408)	(2,319)
Real Estate [Member] | Commercial Real Estate [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	24,129	24,289
Gross loans receivable	24,164	24,322
Allowance for loan losses	(219)	(222)	(140)	(133)
Real Estate [Member] | Church [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	15,799	16,658
Gross loans receivable	15,458	16,308
Allowance for loan losses	(221)	(237)	(323)	(362)
Real Estate [Member] | Construction [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	469	429
Gross loans receivable	469	430
Allowance for loan losses	(22)	(22)	(24)	(48)
Commercial - Other [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	54	57
Gross loans receivable	54	56
Allowance for loan losses	(5)	(4)	(7)	(7)
Consumer [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	7	7
Gross loans receivable	7	7
Allowance for loan losses	$ 0	$ (1)	$ (1)	$ (1)

Loans Receivable Held for Inv_4

Loans Receivable Held for Investment, Activity in Allowance for Loan Losses by Loan Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	$ 3,215	$ 3,182
Provision for (recapture of) loan losses	0	29
Recoveries	0	0
Loans charged off	0	0
Ending balance	3,215	3,211
Real Estate [Member] | Single Family [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	296	312
Provision for (recapture of) loan losses	(21)	(4)
Recoveries	0	0
Loans charged off	0	0
Ending balance	275	308
Real Estate [Member] | Multi-Family [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	2,433	2,319
Provision for (recapture of) loan losses	40	89
Recoveries	0	0
Loans charged off	0	0
Ending balance	2,473	2,408
Real Estate [Member] | Commercial Real Estate [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	222	133
Provision for (recapture of) loan losses	(3)	7
Recoveries	0	0
Loans charged off	0	0
Ending balance	219	140
Real Estate [Member] | Church [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	237	362
Provision for (recapture of) loan losses	(16)	(39)
Recoveries	0	0
Loans charged off	0	0
Ending balance	221	323
Real Estate [Member] | Construction [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	22	48
Provision for (recapture of) loan losses	0	(24)
Recoveries	0	0
Loans charged off	0	0
Ending balance	22	24
Commercial - Other [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	4	7
Provision for (recapture of) loan losses	1	0
Recoveries	0	0
Loans charged off	0	0
Ending balance	5	7
Consumer [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	1	1
Provision for (recapture of) loan losses	(1)	0
Recoveries	0	0
Loans charged off	0	0
Ending balance	$ 0	$ 1

Loans Receivable Held for Inv_5

Loans Receivable Held for Investment, Allowance for Loan Losses and Recorded Investment in Loans by Type of Loans and Based on Impairment Method (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	$ 136	$ 141
Collectively evaluated for impairment	3,079	3,074
Total ending allowance balance	3,215	3,215	$ 3,211	$ 3,182
Loans [Abstract]
Loans individually evaluated for impairment	4,671	4,731
Loans collectively evaluated for impairment	361,064	358,613
Gross loans receivable	365,735	363,344
Real Estate [Member] | Single Family [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	87	89
Collectively evaluated for impairment	188	207
Total ending allowance balance	275	296	308	312
Loans [Abstract]
Loans individually evaluated for impairment	568	573
Loans collectively evaluated for impairment	43,969	47,784
Gross loans receivable	44,537	48,357
Real Estate [Member] | Multi-Family [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	2,473	2,433
Total ending allowance balance	2,473	2,433	2,408	2,319
Loans [Abstract]
Loans individually evaluated for impairment	293	298
Loans collectively evaluated for impairment	280,753	273,566
Gross loans receivable	281,046	273,864
Real Estate [Member] | Commercial Real Estate [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	219	222
Total ending allowance balance	219	222	140	133
Loans [Abstract]
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	24,164	24,322
Gross loans receivable	24,164	24,322
Real Estate [Member] | Church [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	48	52
Collectively evaluated for impairment	173	185
Total ending allowance balance	221	237	323	362
Loans [Abstract]
Loans individually evaluated for impairment	3,765	3,813
Loans collectively evaluated for impairment	11,693	12,495
Gross loans receivable	15,458	16,308
Real Estate [Member] | Construction [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	22	22
Total ending allowance balance	22	22	24	48
Loans [Abstract]
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	469	430
Gross loans receivable	469	430
Commercial - Other [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	1	0
Collectively evaluated for impairment	4	4
Total ending allowance balance	5	4	7	7
Loans [Abstract]
Loans individually evaluated for impairment	45	47
Loans collectively evaluated for impairment	9	9
Gross loans receivable	54	56
Consumer [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	0	1
Total ending allowance balance	0	1	$ 1	$ 1
Loans [Abstract]
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	7	7
Gross loans receivable	$ 7	$ 7

Loans Receivable Held for Inv_6

Loans Receivable Held for Investment, Loans Individually Evaluated for Impairment by Loan Type (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
With an Allowance Recorded [Abstract]
Allowance for loan losses allocated	$ 136	$ 141
Total [Abstract]
Unpaid principal balance	5,236	5,289
Recorded investment	4,671	4,731
Real Estate [Member] | Single Family [Member]
With No Related Allowance Recorded [Abstract]
Unpaid principal balance	0	2
Recorded investment	0	1
With an Allowance Recorded [Abstract]
Unpaid principal balance	568	573
Recorded investment	568	573
Allowance for loan losses allocated	87	88
Real Estate [Member] | Multi-Family [Member]
With No Related Allowance Recorded [Abstract]
Unpaid principal balance	293	298
Recorded investment	293	298
Real Estate [Member] | Church [Member]
With No Related Allowance Recorded [Abstract]
Unpaid principal balance	2,507	2,527
Recorded investment	1,942	1,970
With an Allowance Recorded [Abstract]
Unpaid principal balance	1,823	1,842
Recorded investment	1,823	1,842
Allowance for loan losses allocated	48	52
Commercial - Other [Member]
With an Allowance Recorded [Abstract]
Unpaid principal balance	45	47
Recorded investment	45	47
Allowance for loan losses allocated	$ 1	$ 1

Loans Receivable Held for Inv_7

Loans Receivable Held for Investment, Average of Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	$ 4,702	$ 5,277
Cash basis interest income recognized	76	249
Foregone interest income	19	23
Real Estate [Member] | Single Family [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	571	608
Cash basis interest income recognized	7	7
Real Estate [Member] | Multi-Family [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	296	311
Cash basis interest income recognized	5	5
Real Estate [Member] | Church [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	3,789	4,296
Cash basis interest income recognized	63	236
Commercial - Other [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	46	62
Cash basis interest income recognized	$ 1	$ 1

Loans Receivable Held for Inv_8

Loans Receivable Held for Investment, Aging of Recorded Investment in Past Due Loans by Loan Type (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	$ 0	$ 0
Current	365,735	363,344
Gross loans receivable	365,735	363,344
30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Single Family [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	44,537	48,357
Gross loans receivable	44,537	48,357
Real Estate [Member] | Single Family [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Single Family [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Single Family [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Multi-Family [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	281,046	273,864
Gross loans receivable	281,046	273,864
Real Estate [Member] | Multi-Family [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Multi-Family [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Multi-Family [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Commercial Real Estate [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	24,164	24,322
Gross loans receivable	24,164	24,322
Real Estate [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Church [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	15,458	16,308
Gross loans receivable	15,458	16,308
Real Estate [Member] | Church [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Church [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Church [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Construction [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	469	430
Gross loans receivable	469	430
Real Estate [Member] | Construction [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Construction [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Real Estate [Member] | Construction [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Commercial - Other [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	54	56
Gross loans receivable	54	56
Commercial - Other [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Commercial - Other [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Commercial - Other [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Consumer [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Current	7	7
Gross loans receivable	7	7
Consumer [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Consumer [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	0	0
Consumer [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Total Past Due	$ 0	$ 0

Loans Receivable Held for Inv_9

Loans Receivable Held for Investment, Recorded Investment in Non-accrual Loans by Loan Type (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	$ 760	$ 787
Loans 90 days or more delinquent that were accruing interest	0	0
Real Estate [Member] | Single Family [Member]
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	0	1
Real Estate [Member] | Church [Member]
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	$ 760	$ 786

Loans Receivable Held for In_10

Loans Receivable Held for Investment, Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)Loan	Mar. 31, 2020Loan	Dec. 31, 2020USD ($)
Troubled Debt Restructurings [Abstract]
Loans classified as troubled debt restructurings	$ 4,100		$ 4,200
Specific reserves allocated to TDRs	$ 136		141
Timely payment period for return to accrual status	6 months
Commitments to lend additional amounts to customers with TDRs	$ 0		0
Number of loans modified | Loan	0	0
Non-accrual Status [Member]
Troubled Debt Restructurings [Abstract]
Loans classified as troubled debt restructurings	$ 221		232
Accrual Status [Member]
Troubled Debt Restructurings [Abstract]
Loans classified as troubled debt restructurings	$ 3,900		$ 4,000

Loans Receivable Held for In_11

Loans Receivable Held for Investment, Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	$ 365,735	$ 363,344
Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	360,487	358,037
Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	2,132	2,145
Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	3,116	3,162
Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Single Family [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	44,537	48,357
Real Estate [Member] | Single Family [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	44,536	48,357
Real Estate [Member] | Single Family [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Single Family [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Single Family [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	1
Real Estate [Member] | Single Family [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Single Family [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Multi-Family [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	281,046	273,864
Real Estate [Member] | Multi-Family [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	280,689	273,501
Real Estate [Member] | Multi-Family [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Multi-Family [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Multi-Family [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	358	362
Real Estate [Member] | Multi-Family [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Multi-Family [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Commercial Real Estate [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	24,164	24,322
Real Estate [Member] | Commercial Real Estate [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	22,684	22,834
Real Estate [Member] | Commercial Real Estate [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	1,480	1,488
Real Estate [Member] | Commercial Real Estate [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Church [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	15,458	16,308
Real Estate [Member] | Church [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	12,093	12,899
Real Estate [Member] | Church [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	652	657
Real Estate [Member] | Church [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Church [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	2,713	2,752
Real Estate [Member] | Church [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Church [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	469	430
Real Estate [Member] | Construction [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	469	430
Real Estate [Member] | Construction [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Real Estate [Member] | Construction [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Commercial - Other [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	54	56
Commercial - Other [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	9	9
Commercial - Other [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Commercial - Other [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Commercial - Other [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	45	47
Commercial - Other [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Commercial - Other [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	7	7
Consumer [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	7	7
Consumer [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	0
Consumer [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	$ 0	$ 0

Junior Subordinated Debentures

Junior Subordinated Debentures (Details) - USD ($) $ in Thousands	Oct. 16, 2014	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Mar. 17, 2004
Debt Instrument [Abstract]
Junior subordinated debentures		$ 3,060		$ 3,315
Payment of principal amount		$ 255	$ 255
Floating Rate Junior Subordinated Debentures [Member]
Debt Instrument [Abstract]
Junior subordinated debentures	$ 5,100
Basis spread term		3 months
Effective interest rate percentage on debentures		2.72%
Payment of principal amount	$ 900
Debt instrument, maturity date		Mar. 17, 2024
Scheduled principal payment		$ 2,000
Floating Rate Junior Subordinated Debentures [Member] | 3-Month LIBOR [Member]
Debt Instrument [Abstract]
Basis spread		2.54%
Private Placement [Member] | Floating Rate Junior Subordinated Debentures [Member]
Debt Instrument [Abstract]
Junior subordinated debentures					$ 6,000

Fair Value, Assets Measured on

Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	$ 10,023		$ 10,698
Transfer between level 1 and level 2	0	$ 0
Transfer between level 2 and level 1	0	0
Transfer into level 3	0	0
Transfer out of level 3	0	$ 0
Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	5,261		5,807
Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	2,782		2,872
Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	1,980		2,019
Recurring Basis [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	5,261		5,807
Recurring Basis [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	2,782		2,872
Recurring Basis [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	1,980		2,019
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0		0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0		0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0		0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	5,261		5,807
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	2,782		2,872
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	1,980		2,019
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0		0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0		0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	$ 0		$ 0

Fair Value, Assets Measured o_2

Fair Value, Assets Measured on Non-Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Non-Recurring Basis [Member] | Impaired Loans Carried at Fair Value of Collateral [Member]
Assets Measured on Non-Recurring Basis [Abstract]
Assets, fair value	$ 0	$ 0

Fair Value, Fair Values of Fina

Fair Value, Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial Assets [Abstract]
Securities available-for-sale	$ 10,023	$ 10,698
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	88,156	96,109
Securities available-for-sale	9,716	10,698
Loans receivable held for investment	362,520	360,129
Accrued interest receivable	1,157	1,202
Bank owned life insurance	3,157	3,147
Financial Liabilities [Abstract]
Time Deposits	312,315	315,630
Federal Home Loan Bank advances	110,500	110,500
Junior subordinated debentures	3,060	3,315
Accrued interest payable	37	88
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	88,156	96,109
Securities available-for-sale	10,023	10,698
Loans receivable held for investment	370,702	366,279
Accrued interest receivable	1,157	1,202
Bank owned life insurance	3,157	3,147
Financial Liabilities [Abstract]
Time Deposits	303,598	312,725
Federal Home Loan Bank advances	112,778	113,851
Junior subordinated debentures	2,570	2,798
Accrued interest payable	37	88
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	88,156	96,109
Securities available-for-sale	0	0
Loans receivable held for investment	0	0
Accrued interest receivable	82	60
Bank owned life insurance	3,157	3,147
Financial Liabilities [Abstract]
Time Deposits	0	0
Federal Home Loan Bank advances	0	0
Junior subordinated debentures	0	0
Accrued interest payable	0	0
Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities available-for-sale	10,023	10,698
Loans receivable held for investment	0	0
Accrued interest receivable	12	14
Bank owned life insurance	0	0
Financial Liabilities [Abstract]
Time Deposits	303,598	312,725
Federal Home Loan Bank advances	112,778	113,851
Junior subordinated debentures	0	0
Accrued interest payable	34	84
Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities available-for-sale	0	0
Loans receivable held for investment	370,702	366,279
Accrued interest receivable	1,063	1,128
Bank owned life insurance	0	0
Financial Liabilities [Abstract]
Time Deposits	0	0
Federal Home Loan Bank advances	0	0
Junior subordinated debentures	2,570	2,798
Accrued interest payable	$ 3	$ 4

Stock-based Compensation, Summa

Stock-based Compensation, Summary of Plans (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020	Feb. 28, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2018
Restricted Stock [Member]
Stock-based Compensation [Abstract]
Restricted stock outstanding (in shares)				0
2018 LTIP [Member]
Stock-based Compensation [Abstract]
Contractual term of option awards				10 years
Maximum number of shares that can be awarded (in shares)						1,293,109
Aggregate number of shares awarded to date under the plan (in shares)				490,007
Shares available for awards (in shares)				803,102
2018 LTIP [Member] | Directors [Member] | Common Stock [Member]
Stock-based Compensation [Abstract]
Number of shares awarded (in shares)	20,736	30,930
Stock based compensation expense				$ 45	$ 45
2018 LTIP [Member] | Officers and Employees [Member] | Restricted Stock [Member]
Stock-based Compensation [Abstract]
Restricted stock award (in shares)		140,218	428,797	0
Forfeited (in shares)			12,846
Award vesting period		2 years	2 years
Stock based compensation expense	$ 44			$ 119
Compensation cost impacted by merger				$ 94

Stock-based Compensation, Stock

Stock-based Compensation, Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Number Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)	450,000	455,000
Granted during period (in shares)	0	0
Exercised during period (in shares)	0	0
Forfeited or expired during period (in shares)	0	(5,000)
Outstanding at end of period (in shares)	450,000	450,000
Exercisable at end of period (in shares)	450,000	360,000
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 1.62	$ 1.67
Granted during period (in dollars per share)	0	0
Exercised during period (in dollars per share)	0	0
Forfeited or expired during period (in dollars per share)	0	6
Outstanding at end of period (in dollars per share)	1.62	1.62
Exercisable at end of period (in dollars per share)	$ 1.62	$ 1.62
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock based compensation expense	$ 6	$ 9

Stock-based Compensation, Optio

Stock-based Compensation, Options Outstanding and Exercisable (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Options, Outstanding [Abstract]
Number Outstanding (in shares) | shares	450,000
Weighted Average Remaining Contractual Life	4 years 11 months 23 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Aggregate Intrinsic Value | $	$ 157,500
Options, Exercisable [Abstract]
Number Outstanding ( in shares) | shares	450,000
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Aggregate Intrinsic Value | $	$ 157,000
Grant Date February 24, 2016 [Member]
Options, Outstanding [Abstract]
Number Outstanding (in shares) | shares	450,000
Weighted Average Remaining Contractual Life	4 years 11 months 23 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Options, Exercisable [Abstract]
Number Outstanding ( in shares) | shares	450,000
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62

ESOP (Details)

ESOP (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
ESOP [Abstract]
Number of common stock purchased by ESOP (in shares)	1,493,679
Purchase price of common stock (in dollars per share)	$ 1.59
Total cost of shares purchased by ESOP	$ 2,400
Loan to ESOP	$ 1,200
Term of ESOP loan	20 years
Compensation expense related to ESOP		$ 23	$ 17
Shares Held by ESOP [Abstract]
Allocated to participants (in shares)		1,065,275		1,065,275
Committed to be released (in shares)		20,472		10,236
Suspense shares (in shares)		552,155		562,391
Total ESOP shares (in shares)		1,637,902		1,637,902
Fair value of unearned shares		$ 1,268		$ 1,040
Shares released for allocation (in shares)		20,472		41,665	43,321
Unearned ESOP shares		$ 877		$ 893

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands		Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2018	Dec. 31, 2015
Actual [Abstract]
Tier 1 (Leverage), Amount		$ 42,580	$ 46,565
Tier 1 (Leverage), Ratio		0.0889	0.0954
Common Equity Tier 1, Amount		$ 42,580	$ 46,565
Common Equity Tier 1, Ratio		0.1670	0.1895
Tier 1, Amount		$ 42,580	$ 46,565
Tier 1, Ratio		0.1670	0.1895
Total Capital, Amount		$ 45,769	$ 49,802
Total Capital, Ratio		0.1795	0.2020
Minimum Capital Requirements [Abstract]
Tier 1 (Leverage), Amount		$ 19,164	$ 19,530
Tier 1 (leverage), Ratio	[1]	0.0400	0.0400
Common Equity Tier 1, Amount		$ 11,477	$ 11,059
Common Equity Tier 1, Ratio	[1]	0.0450	0.0450
Tier 1, Amount		$ 15,302	$ 14,746
Tier 1, Ratio	[1]	0.0600	0.0600
Total Capital, Amount		$ 20,403	$ 19,661
Total Capital, Ratio	[1]	0.0800	0.0800
Minimum Required To Be Well Capitalized Under Prompt Corrective Action Provisions [Abstract]
Tier 1 (Leverage), Amount		$ 23,954	$ 24,413
Tier 1 (Leverage), Ratio		0.0500	0.0500
Common Equity Tier 1, Amount		$ 16,577	$ 15,975
Common Equity Tier 1, Ratio		0.0650	0.0650
Tier 1, Amount		$ 20,403	$ 19,661
Tier 1, Ratio		0.0800	0.0800
Total Capital, Amount		$ 25,504	$ 24,577
Total Capital, Ratio		0.1000	0.1000
Conservation Buffer Rule Starting January 2016 [Member]
Regulatory Matters [Abstract]
Capital conservation buffer percentage					0.625%
Conservation Buffer Rule Subsequent To 2016 [Member]
Regulatory Matters [Abstract]
Capital conservation buffer annual increase percentage					0.625%
Conservation Buffer Rule [Member]
Regulatory Matters [Abstract]
Capital conservation buffer percentage				2.50%
[1]	Without conservation buffer.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Valuation Allowance [Abstract]
Cumulative losses lookback period		2 years
Valuation allowance		$ 0	$ 0
Net deferred tax assets		$ 7,100	$ 5,600
Forecast [Member]
Valuation Allowance [Abstract]
Deferred tax assets, impairment allowance	$ 700

Concentration of Deposit Risk (

Concentration of Deposit Risk (Details) - Deposits [Member] - Customer Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2021Customer
Concentration Percentage [Abstract]
Number of significant customers	2
Two Customers [Member]
Concentration Percentage [Abstract]
Percentage of concentration risk	13.00%