Broadway Financial (BYFC) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-39043
Entity Registrant Name	BROADWAY FINANCIAL CORPORATION
Entity Central Index Key	0001001171
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4547287
Entity Address, Address Line One	5055 Wilshire Boulevard, Suite 500
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90036
City Area Code	323
Local Phone Number	634-1700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BYFC
Security Exchange Name	NASDAQ
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 Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		43,674,026
Class B Non-Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,404,618
Class C Non-Voting 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	Sep. 30, 2021	Dec. 31, 2020
Assets:
Cash and due from banks	$ 39,705	$ 71,110
Interest-bearing deposits in other banks	168,982	24,999
Cash and cash equivalents	208,687	96,109
Securities available-for-sale, at fair value	157,628	10,698
Loans receivable held for investment, net of allowance of $3,661 and $3,215	642,198	360,129
Accrued interest receivable	2,565	1,202
Federal Home Loan Bank ("FHLB") stock	2,708	3,431
Federal Reserve Bank (FRB) stock	693	0
Office properties and equipment, net	9,221	2,540
Bank owned life insurance	3,179	3,147
Deferred tax assets, net	5,645	5,633
Core deposit intangible, net	3,067	0
Goodwill	25,996	0
Other assets	1,974	489
Total assets	1,063,561	483,378
Liabilities:
Deposits	749,645	315,630
Securities sold under agreements to repurchase	52,876	0
FHLB advances	91,070	110,500
Junior subordinated debentures	0	3,315
Notes payable	14,000	0
Accrued expenses and other liabilities	12,591	5,048
Total liabilities	920,182	434,493
Additional paid-in capital	140,275	46,851
Retained earnings	5,149	7,783
Unearned Employee Stock Ownership Plan (ESOP) shares	(844)	(893)
Accumulated other comprehensive income, net of tax	325	164
Treasury stock-at cost, 2,617,826 shares at September 30, 2021 and at December 31, 2020	(5,326)	(5,326)
Total Broadway Financial Corporation and Subsidiary stockholders' equity	143,323	48,885
Non-controlling interest	56	0
Total liabilities and stockholders' equity	1,063,561	483,378
Cumulative Redeemable Perpetual Preferred stock, Series A [Member]
Liabilities:
Cumulative Redeemable Perpetual Preferred stock, Series A, authorized 3,000 shares at September 30, 2021 and none at December 31, 2020; issued and outstanding 3,000 shares at September 30, 2021 and none at December 31, 2020, liquidation value $1,000 per share	3,000	0
Class A Voting Common Stock [Member]
Liabilities:
Common stock	463	219
Class B Non-Voting Common Stock [Member]
Liabilities:
Common stock	114	0
Class C Non-Voting Common Stock [Member]
Liabilities:
Common stock	$ 167	$ 87

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets [Abstract]
Allowance for loan losses	$ 3,661	$ 3,215
Stockholders' Equity:
Treasury stock, shares (in shares)	2,617,826	2,617,826
Cumulative Redeemable Perpetual Preferred stock, Series A [Member]
Stockholders' Equity:
Preferred stock, shares authorized (in shares)	3,000	0
Preferred stock, shares issued (in shares)	3,000	0
Preferred stock, shares outstanding (in shares)	3,000	0
Preferred stock, liquidation value (in dollars per share)	$ 1,000	$ 1,000
Class A Voting Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	50,000,000
Common stock, shares issued (in shares)	46,291,852	21,899,584
Common stock, shares outstanding (in shares)	43,674,026	19,281,758
Class B Non-Voting Common Stock [Member]
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	15,000,000	0
Common stock, shares issued (in shares)	11,404,618	0
Common stock, shares outstanding (in shares)	11,404,618	0
Class C Non-Voting Common Stock [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)	16,689,775	8,756,396
Common stock, shares outstanding (in shares)	16,689,775	8,756,396

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest income:
Interest and fees on loans receivable	$ 6,296	$ 4,438	$ 16,240	$ 13,226
Interest on available for sale securities	457	59	953	194
Other interest income	156	77	377	293
Total interest income	6,909	4,574	17,570	13,713
Interest expense:
Interest on deposits	446	631	1,306	2,653
Interest on borrowings	472	566	1,607	1,754
Total interest expense	918	1,197	2,913	4,407
Net interest income	5,991	3,377	14,657	9,306
Loan loss provision	365	0	446	29
Net interest income after loan loss provision	5,626	3,377	14,211	9,277
Non-interest income:
Service charges	76	93	205	331
Gain on sale of loans	0	76	0	199
CDFI Grant	217	0	2,043	0
Other	316	37	676	115
Total non-interest income	609	206	2,924	645
Non-interest expense:
Compensation and benefits	3,334	1,909	11,543	5,947
Occupancy expense	392	332	1,327	967
Information services	787	242	1,594	700
Professional services	616	840	3,068	1,675
Supervisory costs	139	0	386	0
Office services and supplies	65	97	219	260
Corporate insurance	47	30	301	94
Amortization of core deposit intangible	131	0	262	0
Other	467	282	1,279	640
Total non-interest expense	5,978	3,732	19,979	10,283
Income (loss) before income taxes	257	(149)	(2,844)	(361)
Income tax expense (benefit)	51	95	(297)	(300)
Net income (loss)	206	(244)	(2,547)	(61)
Less: Net income attributable to non-controlling interest	24	0	57	0
Net Income (loss) Attributable to Broadway Financial Corporation	182	(244)	(2,604)	(61)
Other comprehensive (loss) income, net of tax:
Unrealized (loss) gain on securities available-for-sale arising during the period	(640)	(40)	224	290
Income tax (benefit) expense	(180)	(12)	63	86
Other comprehensive (loss) income, net of tax	(460)	(28)	161	204
Comprehensive (loss) income	$ (278)	$ (272)	$ (2,443)	$ 143
Earnings (loss) per common share-basic (in dollars per share)	$ 0	$ (0.01)	$ (0.05)	$ 0
Earnings (loss) per common share-diluted (in dollars per share)	$ 0	$ (0.01)	$ (0.05)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (2,547)	$ (61)
Adjustments to reconcile net loss to net cash used in operating activities:
Loan loss provision	446	29
Depreciation	198	170
Net amortization of deferred loan origination costs	457	183
Net amortization of premiums on available for sale securities	705	30
Amortization of investment in affordable housing limited partnership	39	79
Amortization of core deposit intangible	262	0
Accretion of premium on FHLB advances	(26)	0
Write down of deferred tax asset	370	0
ESOP compensation expense	81	50
Earnings on bank owned life insurance	(32)	(35)
Originations of loans receivable held for sale	0	(118,626)
Proceeds from sales of loans receivable held for sale	0	77,642
Repayments on loans receivable held for sale	0	530
Gain on sale of loans receivable held for sale	0	(199)
Change in assets and liabilities:
Net change in deferred taxes	(1,162)	(175)
Net change in accrued interest receivable	274	(102)
Net change in other assets	765	15
Net change in advance payments by borrowers for taxes and insurance	310	508
Net change in accrued expenses and other liabilities	3,359	(125)
Net cash provided by (used in) operating activities	3,913	(39,763)
Cash flows from investing activities:
Cash acquired in merger	84,745	0
Net change in loans receivable held for investment	(57,087)	35,843
Principal payments on available-for-sale securities	12,662	1,744
Purchase of available-for-sale securities	(10,098)	(850)
Purchase of FHLB stock	(152)	(670)
Proceeds from redemption of FHLB stock	1,243	0
Purchase of office properties and equipment	(119)	(501)
Proceeds from disposals of office property and equipment	3	0
Net cash provided by investing activities	31,197	35,566
Cash flows from financing activities:
Net change in deposits	80,294	27,612
Net increase in securities sold under agreements to repurchase	(7,069)	0
Proceeds from sale of stock (net of costs)	30,837	0
Distributions to non-controlling interest	(165)	0
Dividends paid on preferred stock	(30)	0
Proceeds from FHLB advances	5,000	66,000
Repayments of FHLB advances	(27,570)	(34,500)
Stock cancelled for income tax withholding	(514)	0
Repayments of junior subordinated debentures	(3,315)	(765)
Net cash provided by financing activities	77,468	58,347
Net change in cash and cash equivalents	112,578	54,150
Cash and cash equivalents at beginning of the period	96,109	15,566
Cash and cash equivalents at end of the period	208,687	69,716
Supplemental disclosures of cash flow information:
Cash paid for interest	2,424	4,530
Cash paid for income taxes	454	8
Assets acquired (liabilities assumed) in acquisition:
Securities available for sale, at fair value	149,975	0
Loans receivable	225,885	0
Accrued interest receivable	1,637	0
FHLB and FRB stock	1,061	0
Office property and equipment	6,953	0
Goodwill	25,966	0
Core deposit intangible	3,329	0
Other assets	2,290	0
Deposits	(353,722)	0
FHLB advances	(3,166)	0
Securities sold under agreements to repurchase	(59,945)	0
Other borrowings	(14,000)	0
Deferred taxes	(717)	0
Accrued expenses and other liabilities	(4,063)	0
Preferred Stock [Member]
Assets acquired (liabilities assumed) in acquisition:
Issuance of stock	(3,000)	0
Common Stock [Member]
Assets acquired (liabilities assumed) in acquisition:
Issuance of stock	(63,257)	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	$ 369	$ 279

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]Preferred Stock Non-Voting [Member]	Common Stock [Member]Common Stock Voting [Member]	Common Stock [Member]Common Stock Non-Voting [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings (Substantially Restricted) [Member]	Unearned ESOP Shares [Member]	Treasury Stock [Member]	Non-controlling Interest [Member]	Total
Balance at Dec. 31, 2019	$ 0	$ 218	$ 87	$ 46,426	$ (23)	$ 8,425	$ (959)	$ (5,326)	$ 0	$ 48,848
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	0	(61)	0	0	0	(61)
Release of unearned ESOP shares	0	0	0	0	0	0	50	0	0	50
Stock awarded to directors	0	0	0	45	0	0	0	0	0	45
Stock option compensation expense	0	0	0	29	0	0	0	0	0	29
Restricted stock compensation expense	0	1	0	250	0	0	0	0	0	251
Other comprehensive income (loss), net of tax	0	0	0	0	204	0	0	0	0	204
Balance at Sep. 30, 2020	0	219	87	46,750	181	8,364	(909)	(5,326)	0	49,366
Balance at Jun. 30, 2020	0	219	87	46,650	209	8,608	(927)	(5,326)	0	49,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	0	(244)	0	0	0	(244)
Release of unearned ESOP shares	0	0	0	0	0	0	18	0	0	18
Stock option compensation expense	0	0	0	10	0	0	0	0	0	10
Restricted stock compensation expense	0	0	0	90	0	0	0	0	0	90
Other comprehensive income (loss), net of tax	0	0	0	0	(28)	0	0	0	0	(28)
Balance at Sep. 30, 2020	0	219	87	46,750	181	8,364	(909)	(5,326)	0	49,366
Balance at Dec. 31, 2020	0	219	87	46,851	164	7,783	(893)	(5,326)	0	48,885
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	0	(2,604)	0	0	57	(2,547)
Preferred shares issued in business combination	3,000	0	0	0	0	0	0	0	0	3,000
Common shares issued in business combination	0	140	114	62,839	0	0	0	0	164	63,257
Shares transferred from voting to non-voting after business combination	0	(7)	7	0	0	0	0	0	0	0
Common shares issued in private placement	0	112	73	30,652	0	0	0	0	0	30,837
Release of unearned ESOP shares	0	0	0	32	0	0	49	0	0	81
Dividends paid on preferred stock	0			0	0	(30)	0	0	0	(30)
Stock awarded to directors	0	0	0	45	0	0	0	0	0	45
Stock option compensation expense	0	0	0	7	0	0	0	0	0	7
Common stock cancelled for payment of tax withholdings	0	(2)	0	(512)	0	0	0	0	0	(514)
Restricted stock compensation expense	0	1	0	361	0	0	0	0	0	362
Payment to non-controlling interest	0	0	0	0	0	0	0	0	(165)	(165)
Other comprehensive income (loss), net of tax	0	0	0	0	161	0	0	0	0	161
Balance at Sep. 30, 2021	3,000	463	281	140,275	325	5,149	(844)	(5,326)	56	143,379
Balance at Jun. 30, 2021	3,000	462	281	140,125	785	4,997	(861)	(5,326)	32	143,495
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	0	182	0	0	24	206
Release of unearned ESOP shares	0	0	0	17	0	0	17	0	0	34
Dividends paid on preferred stock	0			0	0	(30)	0	0	0	(30)
Common stock cancelled for payment of tax withholdings	0	0	0	(66)	0	0	0	0	0	(66)
Restricted stock compensation expense	0	1	0	199	0	0	0	0	0	200
Other comprehensive income (loss), net of tax	0	0	0	0	(460)	0	0	0	0	(460)
Balance at Sep. 30, 2021	$ 3,000	$ 463	$ 281	$ 140,275	$ 325	$ 5,149	$ (844)	$ (5,326)	$ 56	$ 143,379

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	9 Months Ended
	Sep. 30, 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, City First Bank, National Association (the “Bank” and, together with the Company, “City First Broadway”). Also included in the unaudited consolidated financial statements are the following subsidiaries of City First Bank: 1432 U Street LLC, Broadway Service Corporation, City First Real Estate LLC, City First Real Estate II LLC, City First Real Estate III LLC, City First Real Estate IV LLC, and CF New Markets Advisors, LLC (“CFNMA”). In addition, CFNMA also consolidates CFC Fund Manager II, LLC; City First New Markets Fund II, LLC; City First Capital IX, LLC; and City First Capital 45, LLC (“CFC 45”) into its financial results. The results of Broadway Service Corporation, a wholly owned subsidiary of the Bank, are also included in the unaudited consolidated financial statements. 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 (“2020 Form 10-K”) 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 and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Subsequent events have been evaluated through November 15, 2021, which is the date these financial statements were issued. Except as discussed below, our accounting policies are described in Note 1 – Summary of Significant Accounting Policies of our audited consolidated financial statements included in (the “2020 Form 10-K”). Purchased Credit Impaired Loans As part our recent merger, see Note 2 – Business Combination, the Company acquired certain loans that have shown evidence of credit deterioration since origination; these loans are referred to as purchased credit impaired loans (“PCI loans”). These PCI loans are recorded at their fair value at acquisition, such that there is no carryover of the seller’s allowance for loan losses. Such PCI loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each PCI loan, and the expected cash flows in excess of the allocated fair value is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (non-accretable difference). Over the life of the PCI loan, expected cash flows continue to be estimated each quarter. If the present value of expected cash flows decreases from the prior estimate, a provision for loan losses is recorded and an allowance for loan losses is established. If the present value of expected cash flows increases from the prior estimate, the increase is recognized as part of future interest income. If the timing and amount of cash flows is uncertain, then cash payments received will be recognized as a reduction of the recorded investment. Business Combinations Business combinations are accounted for using the acquisition accounting method. Under the purchase accounting method, the Company measures the identifiable assets acquired, including identifiable intangible assets, and liabilities assumed in a business combination at fair value on the acquisition date. Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. See Note 2 - Business Combination and Note 7 - Goodwill and Intangible Assets for further information. Goodwill and intangible assets acquired in a purchase business combination and that are determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exist that indicate the necessity for such impairment tests to be performed. The Company has selected November 30th as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on the Company’s consolidated statement of financial condition. Core deposit intangible assets arising from mergers and acquisitions are amortized on an accelerated basis reflecting the pattern in which the economic benefits of the intangible asset are consumed or otherwise used up. The estimated life of the core deposit intangible is approximately 10 years. Variable Interest Entities (“VIE”) An entity is considered to be a VIE when it does not have sufficient equity investment at risk, the equity investors as a group lack the characteristics of a controlling financial interest, or the entity is structured with disproportionate voting rights and substantially all of the entity’s activities are conducted on behalf of an investor with disproportionately few voting rights. The Company is required to consolidate a VIE when it holds a variable interest in the VIE and is also the primary beneficiary of the VIE. CFC 45 is a Community Development Entity (“CDE”), and is considered to be a VIE. The Company is the primary beneficiary because it has the power to direct activities that most significantly affect the economic performance of CFC 45 and has the obligation to absorb the majority of the losses or benefits of its financial performance. Noncontrolling Interests For consolidated subsidiaries that are less than wholly-owned, the third-party holdings of equity interests are referred to as noncontrolling interests. The portion of net income attributable to noncontrolling interests for such subsidiaries is presented as net income applicable to noncontrolling interests on the consolidated statements of operations and comprehensive income, and the portion of the stockholders’ equity of such subsidiaries is presented as noncontrolling interests on the consolidated statements of financial condition and consolidated statements of changes in stockholders’ equity. Recent Accounting Guidance 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 reinsuranc e 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 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.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2021
Business Combination [Abstract]
Business Combination	NOTE (2) – Business Combination The Company completed its merger with CFBanc Corporation (“CFBanc”) on April 1, 2021, with the Company continuing as the surviving entity (the “CFBanc Merger”). Immediately following this merger, Broadway Federal Bank, f.s.b., a subsidiary of Broadway Financial Corporation, 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). As of the acquisition date, CFBanc Corporation had $471.0 million in total assets, $227.7 million in gross loans, and $353.7 million of total deposits. 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. The total value of the consideration transferred to CFBanc Corporation shareholders was approximately $66.3 million, which was based on the closing price of the Company’s common stock on March 31, 2021, the last trading day prior to the consummation of the merger. The Company accounted for the CFBanc Merger under the acquisition method of accounting which requires purchased assets and liabilities assumed to be recorded at their respective fair values at the date of acquisition. The Company determined the fair value of the acquired assets and assumed liabilities with the assistance of third-party valuation firms. G oodwill in the amount of $26.0 million was recognized in the CFBanc Merger. Goodwill represents the future economic benefits arising from net assets acquired that are not individually identified and separately recognized and are attributable to synergies expected to be derived from the combination of the two entities. Goodwill is not amortized for financial reporting purposes; rather, it is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, by comparing its carrying value to the reporting unit’s fair value. Goodwill recognized in this transaction is not deductible for income tax purposes. The following table represents the assets acquired and liabilities assumed in the CFBanc Merger as of April 1, 2021, and the fair value adjustments and amounts recorded by the Company as of the same date under the acquisition method of accounting: CFBanc Book Value Fair Value Adjustments Fair Value Assets acquired (In thousands) Cash and cash equivalents $ 84,745 $ - $ 84,745 Securities available-for-sale 150,052 (77 ) 149,975 Loans receivable held for investment: Gross loans receivable held for investment 227,669 (1,784 ) 225,885 Deferred fees and costs (315 ) 315 - Allowance for loan losses (2,178 ) 2,178 - 225,176 709 225,885 Accrued interest receivable 1,637 - 1,637 FHLB and FRB stock 1,061 - 1,061 Office properties and equipment 5,152 1,801 6,953 Deferred tax assets, net 890 (1,608 ) (718 ) Core deposit intangible - 3,329 3,329 Other assets 2,290 - 2,290 Total assets $ 471,003 $ 4,154 $ 475,157 Liabilities assumed Deposits $ 353,671 $ 51 $ 353,722 Securities sold under agreements to repurchase 59,945 - 59,945 FHLB advances 3,057 109 3,166 Notes payable 14,000 - 14,000 Accrued expenses and other liabilities 4,063 - 4,063 Total liabilities $ 434,736 $ 160 $ 434,896 Excess of assets acquired over liabilities assumed $ 36,267 $ 3,994 $ 40,261 Consideration paid $ 66,257 Goodwill recognized $ 25,996 The fair values are preliminary estimates and are subject to adjustment for up to one year after the merger date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. These changes could differ materially from what is presented above. The contractual amounts due, expected cash flows to be collected, the interest component, and the fair value of loans acquired from CFBanc as of the acquisition date were as follows: Acquired Loans (In thousands) Contractual amounts due $ 231,432 Cash flows not expected to be collected (3,666 ) Expected cash flows 227,766 Interest component of expected cash flows (1,881 ) Fair value of acquired loans $ 225,885 A component of total loans acquired from CFBanc were loans that were considered to be PCI loans. Refer to Note 6 for additional information regarding PCI loans. The following table presents the amounts that comprise the fair value of PCI loans (in thousands): Contractual amounts due $ 1,825 Non-accretable difference (cash flows not expected to be collected) (634 ) Expected cash flows 1,191 Accretable yield (346 ) Fair value of acquired loans $ 845 In accordance with generally accepted accounting principles, there was no carryover of the allowance for loan losses that had been previously recorded on loans by CFBanc. The following table presents the net interest income, net income, and earnings per share as if the CFBanc Merger was effective as of January 1, 2020. The unaudited pro forma financial information included in the table below is based on various estimates and is presented for informational purposes only and does not indicate the financial condition or results of operations of the combined Company that would have been achieved for the periods presented had the transactions been completed as of the date indicated or that may be achieved in the future. Three Months Ended Nine September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (Dollars in thousands except per share amounts) Net interest income $ 5,978 $ 5,738 $ 16,988 $ 16,068 Net income (loss) 191 (343 ) (3,348 ) (157 ) Basic earnings per share $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00 Diluted earnings per share $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00

Capital Raise

Capital Raise	9 Months Ended
	Sep. 30, 2021
Capital Raise [Abstract]
Capital Raise	NOTE (3) – Capital Raise On April 6, 2021, the Company completed the sale of 18,474,000 shares of Broadway Financial Corporation 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 (net of expenses). 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 Class B Nonvoting Class C 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

Earnings Per Share of Common St

Earnings Per Share of Common Stock	9 Months Ended
	Sep. 30, 2021
Earnings Per Share of Common Stock [Abstract]
Earnings Per Share of Common Stock	NOTE (4) – Earnings 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 dividends paid on participating securities (unvested shares of restricted common stock) and 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 (loss) per share of common stock for the periods indicated: For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 (Dollars in thousands, except per share ) Net income (loss) $ 182 $ (244 ) $ (2,604 ) $ (61 ) Less net income attributable to participating securities - (2) - (1) Income (loss) available to common stockholders $ 182 $ (242 ) $ (2,604 ) $ (61 ) Weighted average common shares outstanding for basic earnings (loss) per common share 71,222,869 27,224,344 56,403,545 27,114,022 Add: dilutive effects of unvested restricted stock awards 228,082 - - - Weighted average common shares outstanding for diluted earnings (loss) per common share 71,450,951 27,224,344 56,403,545 27,114,022 Earnings (loss) per common share - basic $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00 Earnings (loss) per common share - diluted $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00 Stock options for 450,000 shares of common stock for the nine months ended September 30, 2021 were not considered in computing diluted earnings per common share for three months ended September 30, 2020, the nine months ended September 30, 2021 or the nine months ended September 30, 2020 because they were anti-dilutive due to the net loss. There were no unvested restricted stock awards outstanding during the three months ended September 30, 2021.

Securities

Securities	9 Months Ended
	Sep. 30, 2021
Securities [Abstract]
Securities	NOTE (5) – 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 and losses that were recognized in accumulated other comprehensive income (loss): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) September 30, 2021: Federal agency mortgage-backed securities $ 81,943 $ 506 $ (84 ) $ 82,365 Federal agency CMO 5,509 - (31 ) 5,478 Federal agency debt 35,724 348 (11 ) 36,061 Municipal bonds 4,906 33 (6 ) 4,933 U. S. Treasuries 18,180 - (13 ) 18,167 SBA pools 10,676 40 (92 ) 10,624 Total available-for-sale securities $ 156,938 $ 927 $ (237 ) $ 157,628 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 September 30, 2021, the Bank had thirteen (13) federal agency debt securities with a total amortized cost of $35.7 million, estimated total fair value of $36.1 million and an estimated average remaining life of 6.1 years; ninety-nine (99) federal agency mortgage-backed securities with a total amortized cost of $81.9 million, estimated total fair value of $82.4 million and an estimated average remaining life of 4.8 years; eight (8) federal agency mortgage-backed securities with a total amortized cost of $5.5 million, estimated total fair value of $5.5 million and an estimated average remaining life of 3.7 years; nine (9) U.S. treasury securities with a total amortized cost of $18.2 million, estimated total fair value of $18.2 million and an estimated average remaining life of 3.8 years; five (5) SBA pools securities with a total amortized cost of $10.7 million, estimated total fair value of $10.6 million and an estimated average remaining life of 5.8 years; nine (9) municipal bonds with a total amortized cost of $4.9 million, estimated total fair value of $4.9 million and an estimated average remaining life of 7.0 years. The entire securities portfolio at September 30, 2021, consisted of one hundred forty-five securities (145) with an estimated average remaining life of 4.0 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. The amortized cost and estimated fair value of all investment securities available-for-sale at September 30, 2021, by contractual maturities are shown below. Contractual maturities may differ from expected maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Due in one year or less $ 1,019 $ 1 $ (11 ) $ 1,009 Due after one year through five years 30,034 128 (13 ) 30,149 Due after five years through ten years 20,453 166 (6 ) 20,613 Due after ten years (1) 105,432 632 (207 ) 105,857 $ 156,938 $ 927 $ (237 ) $ 157,628 (1) Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category. The Bank held 58 securities with unrealized losses of $237 thousand at September 30, 2021. None of these securities has been in a loss position for greater than one year. The Bank’s securities were primarily issued by the federal government or its agencies. The unrealized gains or losses on our available-for-sale securities at September 30, 2021 were primarily caused by movements in market interest rates subsequent to the purchase of such securities. Securities with a market value of $71.4 million were pledged as collateral for securities sold under agreements to repurchase as of September 30, 2021 and included $23.4 million of U.S. Government Agency securities, $43.8 million of mortgage-backed securities, and $4.2 million of collateralized mortgage obligations. (See Note 9 – Borrowings.) There were no securities pledged as collateral for securities sold under agreements to repurchase as December 31, 2020. There were no securities pledged to secure public deposits at September 30, 2021 or December 31, 2020. At September 30, 2021 and December 31, 2020, there were no holdings of securities by any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity. There were no sales of securities during the three and nine months ended September 30, 2021 and 2020.

Loans Receivable Held for Inves

Loans Receivable Held for Investment	9 Months Ended
	Sep. 30, 2021
Loans Receivable Held for Investment [Abstract]
Loans Receivable Held for Investment	NOTE (6) – Loans Receivable Held for Investment Loans receivable held for investment were as follows as of the dates indicated: September 30, 2021 December 31, 2020 (In thousands) Real estate: Single family $ 50,880 $ 48,217 Multi-family 383,401 272,387 Commercial real estate 98,411 24,289 Church 15,057 16,658 Construction 21,076 429 Commercial – other 47,306 57 SBA loans (1) 28,873 - Consumer 12 7 Gross loans receivable before deferred loan costs and premiums 645,016 362,044 Unamortized net deferred loan costs and premiums 843 1,300 Gross loans receivable 645,859 363,344 Allowance for loan losses (3,661 ) (3,215 ) Loans receivable, net $ 642,198 $ 360,129 (1) Including Paycheck Protection Program (PPP) loans. Purchased Credit Impaired (PCI) Loans As part of the CFBanc Merger, the Company acquired loans for which there was, at acquisition, evidence of credit deterioration of credit quality since origination and for which it was probable, at acquisition, that all contractually required payments would not be collected. Prior to the CFBanc Merger, there were no such acquired loans. The carrying amount of those loans as of September 30, 2021, was as follows: September 30 , (In thousand s) Real estate: Single family $ 558 Commercial real estate 221 Commercial - other 104 $ 883 On the acquisition date, the amount by which the undiscounted expected cash flows of the PCI loans exceeded the estimated fair value of the loan is the accretable yield. The accretable yield is measured at each financial reporting date and represents the difference between the remaining undiscounted cash flows and the current carrying value of the PCI 30, none of the Company’s PCI The following table summarizes the accretable yield on the PCI three and nine months ended 30, : Three Months September 30 , 2021 Nine Months September 30 , 2021 (In thousand s) Balance at the beginning of the period $ 327 $ - Additions - 346 Accretion (19 ) (38 ) Balance at the end of the period $ 308 $ 308 The following tables present the activity in the allowance for loan losses by loan type for the periods indicated: Three Months Ended September 30, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 170 $ 2,606 $ 227 $ 208 $ 81 $ 4 $ - $ - $ 3,296 Provision for (recapture of) loan losses (10 ) 325 32 (18 ) 35 - - 1 365 Recoveries - - - - - - - - - Loans charged off - - - - - - - - - Ending balance $ 160 $ 2,931 $ 259 $ 190 $ 116 $ 4 $ - $ 1 $ 3,661 Three Months Ended September 30, 2020 Real Estate Single Multi- family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 312 $ 2,424 $ 169 $ 282 $ 22 $ 6 $ - $ - $ 3,215 Provision for (recapture of) loan losses 9 1 17 (28 ) - (1 ) - 2 - Recoveries - - - - - - - - - Loans charged off - - - - - - - - - Ending balance $ 321 $ 2,425 $ 186 $ 254 $ 22 $ 5 $ - $ 2 $ 3,215 Nine Months Ended September 30, 2021 Real Estate Single family Multi-family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 296 $ 2,433 $ 222 $ 237 $ 22 $ 4 $ - $ 1 $ 3,215 Provision for (recapture of) loan losses (136 ) 498 37 (47 ) 94 - - - 446 Recoveries - - - - - - - - - Loans charged off - - - - - - - - - Ending balance $ 160 $ 2,931 $ 259 $ 190 $ 116 $ 4 $ - $ 1 $ 3,661 Nine Months Ended September 30, 2020 Real Estate Single family Multi-family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 312 $ 2,319 $ 133 $ 362 $ 48 $ 7 $ - $ 1 $ 3,182 Provision for (recapture of) loan losses 5 106 53 (108 ) (26 ) (2 ) - 1 29 Recoveries 4 - - - - - - - 4 Loans charged off - - - - - - - - - Ending balance $ 321 $ 2,425 $ 186 $ 254 $ 22 $ 5 $ - $ 2 $ 3,215 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 the dates indicated: September 30, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other SBA Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ - $ - $ 27 $ - $ - $ - $ - $ 30 Collectively evaluated for impairment 157 2,931 259 163 116 4 - 1 3,631 Total ending allowance balance $ 160 $ 2,931 $ 259 $ 190 $ 116 $ 4 $ - $ 1 $ 3,661 Loans: Loans individually evaluated for impairment $ 65 $ 286 $ - $ 3,357 $ - $ - $ - $ - $ 3,708 Loans collectively evaluated for impairment 50,922 384,959 98,384 11,371 20,907 47,306 28,290 12 642,151 Total ending loans balance $ 50,987 $ 385,245 $ 98,384 $ 14,728 $ 20,907 $ 47,306 $ 28,290 $ 12 $ 645,859 December 31, 2020 Real Estate Single family Multi- Commercial real estate Church Construction Commercial - other SBA Loans 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 dates indicated: September 30, 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 286 286 - 298 298 - Church 2,468 1,879 - 2,527 1,970 - With an allowance recorded: Single family 65 65 3 573 573 88 Church 1,478 1,478 27 1,842 1,842 52 Commercial - other - - - 47 47 1 Total $ 4,297 $ 3,708 $ 30 $ 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 September 30, 2021 Three Months Ended September 30, 2020 Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized (In thousands) Single family $ 65 $ 4 $ 589 $ 7 Multi-family 288 5 305 5 Church 3,614 64 3,938 67 Commercial - other - - 50 1 Total $ 3,967 $ 73 $ 4,882 $ 80 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income (In thousands) Single family $ 318 $ 14 $ 596 $ 22 Multi-family 292 15 308 16 Church 3,710 190 4,094 376 Commercial - other 18 1 57 3 Total $ 4,338 $ 220 $ 5,055 $ 417 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 $22 thousand for the three months ended September 30, 2021 and 2020, respectively, and $38 thousand and $67 thousand for the nine months ended 30, 2021 and 2020, respectively, As of the Bank had , and no loans were past due days or more. The following tables present the aging of the recorded investment in past due loans by loan type as of the periods indicated: September 30, 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 $ - $ - $ - $ - $ 50,987 $ 50,987 Multi-family 249 - - 249 384,996 385,245 Commercial real estate - - - - 98,384 98,384 Church - - - - 14,728 14,728 Construction - - - - 20,907 20,907 Commercial - other - - - - 47,306 47,306 SBA loans - - - - 28,290 28,290 Consumer - - - - 12 12 Total $ 249 $ - $ - $ 249 $ 645,610 $ 645,859 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: September 30, 2021 December 31, 2020 (In thousands) Loans receivable held for investment: Single-family residence $ - $ 1 Church 709 786 Total non-accrual loans $ 709 $ 787 There were no loans 90 days or more delinquent that were accruing interest as of September 30, 2021 or December 31, 2020. None of the church non-accrual loans were delinquent, but none qualified for accrual status as of the periods indicated. Troubled Debt Restructurings (TDRs) In March 2020, a joint statement was issued by federal and state regulatory agencies, after consultation with the FASB, to clarify that short-term loan modifications, such as payment deferrals, fee waivers, extensions of repayment terms or other insignificant payment delays, are not TDRs if made on a good-faith basis in response to COVID-19 to borrowers who were current prior to any relief. Under this guidance, six months or less is provided as an example of short-term, and current is defined as less than 30 days past due at the time the modification program is implemented. The guidance also provides that these modified loans generally will not be classified as non-accrual loans during the term of the modification. The Bank has implemented a loan modification program for the effects of COVID-19 on its borrowers. At the date of this filing, no borrowers have requested loan modifications. To date, no modifications have been granted. At September 30, 2021, loans classified as TDRs totaled $3.7 million, of which $405 thousand were included in non-accrual loans and $3.3 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 $30 thousand and $141 thousand of specific reserves for accruing TDRs as of September 30, 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 September 30, 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 or nine months ended September 30, 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 within this footnote ◾ Watch. Loans classified as watch exhibit weaknesses that could threaten the current net worth and paying capacity of the obligors. Watch graded loans are generally performing and are not more than 59 days past due. A watch rating is used when a material deficiency exists, but correction is anticipated within an acceptable time frame. ◾ Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. ◾ Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. ◾ Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. ◾ Loss. Loans classified as loss are considered uncollectible and of such little value that to continue to carry the loan as an active asset is no longer warranted. 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: September 30, 2021 Pass Watch Special Mention Substandard Doubtful Loss (In thousands) Single family $ 50,987 $ - $ - $ - $ - $ - Multi-family 384,897 - - 348 - - Commercial real estate 96,918 - - 1,466 - - Church 13,045 641 - 1,042 - - Construction 20,907 - - - - - Commercial - other 47,306 - - - - - SBA loans 28,290 - - - - - Consumer 12 - - - - - Total $ 642,362 $ 641 $ - $ 2,856 $ - $ - 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 $ - $ - In 2015, CFC 45 was formed to, in effect, act as a pass-through entity for a Merrill Lynch NMTC Corp. (“Merrill Lynch”) allocation of funds in connection with the Bank’s participation in the New Markets Tax Credit (“NMTC”) Program totaling $14.0 million. (See Note 9 - Borrowings.) The financial statements for CFC 45 are consolidated with those of the Company, and as such the Company has reflected a $14.0 million loan made by CFC 45 to a Qualified Active Low Income Business in gross loans above as of 30, 2021, in connection with the NMTC Program.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	NOTE (7) – Leases Effective October 1, 2021, the Bank entered into an operating lease for its administrative offices in Los Angeles. The ROU asset and operating lease liability will be recorded in fixed assets other liabilities as of that date. The ROU asset represents our right to use the underlying asset during the lease term. Operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized based on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate at the date of implementation of the new accounting standard. The operating lease has one 5-year extension option at the then fair market rate. As this extension option is not reasonably certain of exercise, it is not included in the lease term. The Bank has no finance leases. As the lease term started on October 1, 2021, there is no rent expense under the operating lease for the three months or nine months ended September 30, 2021.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	NOTE (8) – CFBanc Merger (See Note - Business Combination.), the Company recognized goodwill of and a core deposit intangible of . The following table presents the changes in the carrying amounts of goodwill and core deposit intangibles for the three months ended September 30, 2021 : Goodwill Core Deposit Intangible (In thousands) Balance at the beginning of the period $ - $ - Additions 25,996 3,329 Amortization - (262 ) Impairment - - Balance at the end of the period $ 25,996 $ 3,067 The carrying amount of the core deposit intangible consisted of the following at September 30, 2021: (In thousands) Core deposit intangible acquired $ 3,329 Less: accumulated amortization (262 ) $ 3,067 The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years: (In thousands) 2021 $ 131 2022 435 2023 390 2024 336 2025 315 Thereafter 1,460 $ 3,067

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2021
Borrowings [Abstract]
Borrowings	NOTE (9) – Borrowings Bank enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Bank may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Bank to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing agreements (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the sec urities is reflected as a liability in the Banks’s consolidated statements of financial condition, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. In other words, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. As of September 30, 2021, securities sold under agreements to repurchase totaled $52.9 million at an average rate of 0.10%. The market value of securities pledged totaled $71.4 million as of September 30, 2021 and included $23.4 million of U.S. Government Agency securities, $43.8 million of mortgage-backed securities, and $4.2 million of collateralized mortgage obligations. There were no securities pledged as of December 31, 2020. At 30, 2021 and December 31, 2020, the Bank had outstanding Advances from the FHLB totaling $91.1 million and $110.5 million, respectively. The weighted interest rate was 1.91% and 1.94% as of 30, 2021 and December 31, 2020, respectively. The weighted average contractual maturity was 26 months and 27 months as of 30, 2021 and December 31, 2020, respectively. The advances were collateralized by loans with a market value of $176.5 million at 30, 2021. On September 17, 2021, the Company fully redeemed its Floating Rate Junior Subordinated Debentures. In connection with the New Market Tax Credit activities of City First Bank CFC 45 is a partnership whose members include CFNMA and City First New Markets Fund II, LLC. This CDE acts in effect as a pass-through for a Merrill Lynch allocation totaling $14.0 million that needed to be deployed. In December 2015, Merrill Lynch made a $14.0 million non-recourse loan to CFC 45, whereby CFC 45 passed that loan through to a Qualified Active Low-Income Business (“QALICB”). The loan to the QALICB is secured by a Leasehold Deed of Trust that, due to the pass-through, non-recourse structure, is operationally and ultimately for the benefit of Merrill Lynch rather than CFC 45. Debt service payments received by CFC 45 from the QALICB are passed through to Merrill Lynch in return for which CFC 45 receives a servicing fee. The financial statements of CFC 45 are consolidated with those of the Bank and the Company. There are two notes for CFC 45. Note A is in the amount of $9.9 million with a fixed interest rate of 5.2% per annum. Note B is in the amount of $4.1 million with a fixed interest rate of 0.24% per annum. Quarterly interest only payments commenced in March 2016 and will continue through March 2023 for Notes A and B. Beginning in September 2023, quarterly principal and interest payments will be due for Notes A and B. Both notes will mature on December 1, 2040.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2021
Fair Value [Abstract]
Fair Value	NOTE (10) – 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 September 30 2021 Securities available-for-sale – federal agency mortgage-backed $ - $ 82,365 $ - $ 82,365 Securities available-for-sale – federal agency CMO - 5,478 - 5,478 Securities available-for-sale – federal agency debt - 36,061 - 36,061 Municipal bonds - 4,933 - 4,933 U. S. Treasuries - 18,167 - 18,167 SBA pools - 10,624 - 10,624 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 and nine months ended September 30, 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 statements of financial 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 September 30, 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 September 30, 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 September 30, 2021 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 208,687 $ 208,687 $ - $ - $ 208,687 Securities available-for-sale 157,628 - 157,628 - 157,628 Loans receivable held for investment 642,198 - - 647,988 647,988 Accrued interest receivables 2,565 206 275 2,084 2,565 Bank owned life insurance 3,179 3,179 - - 3,179 Financial Liabilities: Deposits $ 749,645 $ - $ 749,645 $ - $ 749,645 Securities sold under agreements to repurchase 52,876 - 52,332 - 52,332 Federal Home Loan Bank advances 91,070 - 92,836 - 92,836 Note payable 14,000 - - 14,000 14,000 Accrued interest payable 99 - 99 - 99 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 receivables 1,202 60 14 1,128 1,202 Bank owned life insurance 3,147 3,147 - - 3,147 Financial Liabilities: 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 ASU No. 2016-01, the fair value of certain financial assets and liabilities, including loans and time deposits as of September 30, 2021 and December 31, 2020 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	9 Months Ended
	Sep. 30, 2021
Stock-based Compensation [Abstract]
Stock-based Compensation	NOTE (11) – 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 September 30, 2021, 533,169 shares had been awarded and 759,940 shares are available under the LTIP. During the third quarter of 2021, the Company issued 64,516 shares of stock that vested immediately to its Chief Executive Officer at a cost of $200 thousand. As permitted by the LTIP, 21,354 of these shares were cancelled to pay income taxes. At September 30, 2021, no unvested restricted stock awards were outstanding. No stock options were granted during the nine months ended September 30, 2021 and 2020. The following table summarizes stock option activity during the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 Nine Months Ended September 30, 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 T he Company did not record any stock-based compensation expense related to sto ck options during the three months ended September 30, 2021 as these 30, 2021, the Company recorded $7 thousand expense related to stock options. During the three and 30, 2020, the Company recorded $10 thousand and $20 thousand of stock-based compensation expense related to stock options, respectively . Options outstanding and exercisable at September 30, 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 $ 1.62 450,000 $ 1.62 450,000 4.40 years $ 1.62 $ 481,500 450,000 $ 1.62 $ 481,500

ESOP Plan

ESOP Plan	9 Months Ended
	Sep. 30, 2021
ESOP Plan [Abstract]
ESOP Plan	NOTE (12) – ESOP Plan Employees participate in an Employee Stock Option 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 $34 thousand and $18 thousand for the three months ended September 30, 2021 and 2020, respectively, and $81 thousand and $50 thousand for the nine months ended September 30, 2021 and 2020, respectively. Shares held by the ESOP were as follows: September 30, 2021 December 31, 2020 (Dollars in thousands) Allocated to participants 1,092,033 1,065,275 Committed to be released - 10,236 Suspense shares 531,682 562,391 Total ESOP shares 1,623,715 1,637,902 Fair value of unearned shares $ 1,458 $ 1,040 Unearned shares, which are reported as Unearned ESOP shares in the equity section of the consolidated statements of financial condition, were $844 thousand and $893 thousand at September 30, 2021 and December 31, 2020, respectively.

Regulatory Matters

Regulatory Matters	9 Months Ended
	Sep. 30, 2021
Regulatory Matters [Abstract]
Regulatory Matters	NOTE (13) – 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. As a result of the Economic Growth, Regulatory Relief, and Consumer Protection Act, the federal banking agencies have developed a “Community Bank Leverage Ratio” (“CBLR”) (the ratio of a bank’s tier 1 capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A “qualifying community bank” that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered “well capitalized” under Prompt Corrective Action statutes. The federal banking agencies have set the Community Bank Leverage Ratio at 9%. The CARES Act temporarily lowered this ratio to 8% beginning in the three months ended September 30, 2020. The ratio then rose to 8.5% for 2021 and reestablishes at 9% on January 1, 2022. City First Bank, N.A. elected to adopt the CBLR option on April 1, 2020 as reflected in its September 30, 2020 Call Report. Its CBLR as of September 30, 2021 is shown in the table below. The Company’s former subsidiary, Broadway Federal Bank, f.s.b., did not elect to adopt the CBLR and reported the December 31, 2020 capital ratios as shown in the table below. 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 Amount Ratio (Dollars in thousands) September 30 2021 Community Bank Leverage Ratio (1) $ 98,009 9.41 % $ $ 88,576 8.50 % 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) At the Merger on April 1, 2021, the Company’s former subsidiary, Broadway Federal Bank, f.s.b., was merged into City First Bank of D.C, N. A., with City First Bank of D.C, N.A. as the surviving entity and the resultant bank being named City First Bank, National Association, which had elected to adopt Community Bank Leverage Ratio option on April 1, 2020 as reflected in its September 30, 2020 Call Report. At September 30, 2021, the Company and the Bank met all the capital adequacy requirements to which they were subject. In addition, the Bank was “well capitalized” under the regulatory framework for prompt corrective action. Management believes that no conditions or events have occurred since December 31, 2020 that would materially adversely change the Bank’s capital classifications. From time to time, we may need to raise additional capital to support the Bank’s further growth and to maintain the “well capitalized” status.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Taxes [Abstract]
Income Taxes	NOTE (14) – Income Taxes T he 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. The Company’s tax expense for the nine months ended September 30, 2021 included a

Concentration of Credit Risk

Concentration of Credit Risk	9 Months Ended
	Sep. 30, 2021
Concentration of Credit Risk [Abstract]
Concentration of Credit Risk	NOTE (15) – Concentration of Credit Risk The Bank has a significant concentration of deposits with one customer that accounted for approximately 9% of its deposits as of September The Bank a lso h 30, 2021.

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Policies)	9 Months Ended
	Sep. 30, 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, City First Bank, National Association (the “Bank” and, together with the Company, “City First Broadway”). Also included in the unaudited consolidated financial statements are the following subsidiaries of City First Bank: 1432 U Street LLC, Broadway Service Corporation, City First Real Estate LLC, City First Real Estate II LLC, City First Real Estate III LLC, City First Real Estate IV LLC, and CF New Markets Advisors, LLC (“CFNMA”). In addition, CFNMA also consolidates CFC Fund Manager II, LLC; City First New Markets Fund II, LLC; City First Capital IX, LLC; and City First Capital 45, LLC (“CFC 45”) into its financial results. The results of Broadway Service Corporation, a wholly owned subsidiary of the Bank, are also included in the unaudited consolidated financial statements. 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 (“2020 Form 10-K”) 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 and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021.
Subsequent Events	Subsequent events have been evaluated through November 15, 2021, which is the date these financial statements were issued.
Purchased Credit Impaired Loans	Purchased Credit Impaired Loans As part our recent merger, see Note 2 – Business Combination, the Company acquired certain loans that have shown evidence of credit deterioration since origination; these loans are referred to as purchased credit impaired loans (“PCI loans”). These PCI loans are recorded at their fair value at acquisition, such that there is no carryover of the seller’s allowance for loan losses. Such PCI loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each PCI loan, and the expected cash flows in excess of the allocated fair value is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (non-accretable difference). Over the life of the PCI loan, expected cash flows continue to be estimated each quarter. If the present value of expected cash flows decreases from the prior estimate, a provision for loan losses is recorded and an allowance for loan losses is established. If the present value of expected cash flows increases from the prior estimate, the increase is recognized as part of future interest income. If the timing and amount of cash flows is uncertain, then cash payments received will be recognized as a reduction of the recorded investment.
Business Combinations	Business Combinations Business combinations are accounted for using the acquisition accounting method. Under the purchase accounting method, the Company measures the identifiable assets acquired, including identifiable intangible assets, and liabilities assumed in a business combination at fair value on the acquisition date. Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. See Note 2 - Business Combination and Note 7 - Goodwill and Intangible Assets for further information. Goodwill and intangible assets acquired in a purchase business combination and that are determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exist that indicate the necessity for such impairment tests to be performed. The Company has selected November 30th as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on the Company’s consolidated statement of financial condition. Core deposit intangible assets arising from mergers and acquisitions are amortized on an accelerated basis reflecting the pattern in which the economic benefits of the intangible asset are consumed or otherwise used up. The estimated life of the core deposit intangible is approximately 10 years.
Variable Interest Entities ("VIE")	Variable Interest Entities (“VIE”) An entity is considered to be a VIE when it does not have sufficient equity investment at risk, the equity investors as a group lack the characteristics of a controlling financial interest, or the entity is structured with disproportionate voting rights and substantially all of the entity’s activities are conducted on behalf of an investor with disproportionately few voting rights. The Company is required to consolidate a VIE when it holds a variable interest in the VIE and is also the primary beneficiary of the VIE. CFC 45 is a Community Development Entity (“CDE”), and is considered to be a VIE. The Company is the primary beneficiary because it has the power to direct activities that most significantly affect the economic performance of CFC 45 and has the obligation to absorb the majority of the losses or benefits of its financial performance.
Noncontrolling Interests	Noncontrolling Interests For consolidated subsidiaries that are less than wholly-owned, the third-party holdings of equity interests are referred to as noncontrolling interests. The portion of net income attributable to noncontrolling interests for such subsidiaries is presented as net income applicable to noncontrolling interests on the consolidated statements of operations and comprehensive income, and the portion of the stockholders’ equity of such subsidiaries is presented as noncontrolling interests on the consolidated statements of financial condition and consolidated statements of changes in stockholders’ equity.
Recent Accounting Guidance and Accounting Pronouncements Yet to Be Adopted	Recent Accounting Guidance 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 reinsuranc e 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 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.

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination [Abstract]
Assets Acquired and Liabilities Assumed	The following table represents the assets acquired and liabilities assumed in the CFBanc Merger as of April 1, 2021, and the fair value adjustments and amounts recorded by the Company as of the same date under the acquisition method of accounting: CFBanc Book Value Fair Value Adjustments Fair Value Assets acquired (In thousands) Cash and cash equivalents $ 84,745 $ - $ 84,745 Securities available-for-sale 150,052 (77 ) 149,975 Loans receivable held for investment: Gross loans receivable held for investment 227,669 (1,784 ) 225,885 Deferred fees and costs (315 ) 315 - Allowance for loan losses (2,178 ) 2,178 - 225,176 709 225,885 Accrued interest receivable 1,637 - 1,637 FHLB and FRB stock 1,061 - 1,061 Office properties and equipment 5,152 1,801 6,953 Deferred tax assets, net 890 (1,608 ) (718 ) Core deposit intangible - 3,329 3,329 Other assets 2,290 - 2,290 Total assets $ 471,003 $ 4,154 $ 475,157 Liabilities assumed Deposits $ 353,671 $ 51 $ 353,722 Securities sold under agreements to repurchase 59,945 - 59,945 FHLB advances 3,057 109 3,166 Notes payable 14,000 - 14,000 Accrued expenses and other liabilities 4,063 - 4,063 Total liabilities $ 434,736 $ 160 $ 434,896 Excess of assets acquired over liabilities assumed $ 36,267 $ 3,994 $ 40,261 Consideration paid $ 66,257 Goodwill recognized $ 25,996
Contractual Amounts Due, Expected Cash Flows to Be Collected, Interest Component, and Fair Value of Loans Acquired	The contractual amounts due, expected cash flows to be collected, the interest component, and the fair value of loans acquired from CFBanc as of the acquisition date were as follows: Acquired Loans (In thousands) Contractual amounts due $ 231,432 Cash flows not expected to be collected (3,666 ) Expected cash flows 227,766 Interest component of expected cash flows (1,881 ) Fair value of acquired loans $ 225,885
Fair Value of PCI Loans	The following table presents the amounts that comprise the fair value of PCI loans (in thousands): Contractual amounts due $ 1,825 Non-accretable difference (cash flows not expected to be collected) (634 ) Expected cash flows 1,191 Accretable yield (346 ) Fair value of acquired loans $ 845
Unaudited Pro Forma Information	The following table presents the net interest income, net income, and earnings per share as if the CFBanc Merger was effective as of January 1, 2020. The unaudited pro forma financial information included in the table below is based on various estimates and is presented for informational purposes only and does not indicate the financial condition or results of operations of the combined Company that would have been achieved for the periods presented had the transactions been completed as of the date indicated or that may be achieved in the future. Three Months Ended Nine September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 (Dollars in thousands except per share amounts) Net interest income $ 5,978 $ 5,738 $ 16,988 $ 16,068 Net income (loss) 191 (343 ) (3,348 ) (157 ) Basic earnings per share $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00 Diluted earnings per share $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00

Capital Raise (Tables)

Capital Raise (Tables)	9 Months Ended
	Sep. 30, 2021
Capital Raise [Abstract]
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 Class B Nonvoting Class C 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

Earnings Per Share of Common _2

Earnings Per Share of Common Stock (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share of Common Stock [Abstract]
Basic and Diluted Earnings (Loss) Per Share of Common Stock	The following table shows how the Company computed basic and diluted earnings (loss) per share of common stock for the periods indicated: For the three months ended September 30, For the nine months ended September 30, 2021 2020 2021 2020 (Dollars in thousands, except per share ) Net income (loss) $ 182 $ (244 ) $ (2,604 ) $ (61 ) Less net income attributable to participating securities - (2) - (1) Income (loss) available to common stockholders $ 182 $ (242 ) $ (2,604 ) $ (61 ) Weighted average common shares outstanding for basic earnings (loss) per common share 71,222,869 27,224,344 56,403,545 27,114,022 Add: dilutive effects of unvested restricted stock awards 228,082 - - - Weighted average common shares outstanding for diluted earnings (loss) per common share 71,450,951 27,224,344 56,403,545 27,114,022 Earnings (loss) per common share - basic $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00 Earnings (loss) per common share - diluted $ 0.00 $ (0.01 ) $ (0.05 ) $ 0.00

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 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 and losses that were recognized in accumulated other comprehensive income (loss): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) September 30, 2021: Federal agency mortgage-backed securities $ 81,943 $ 506 $ (84 ) $ 82,365 Federal agency CMO 5,509 - (31 ) 5,478 Federal agency debt 35,724 348 (11 ) 36,061 Municipal bonds 4,906 33 (6 ) 4,933 U. S. Treasuries 18,180 - (13 ) 18,167 SBA pools 10,676 40 (92 ) 10,624 Total available-for-sale securities $ 156,938 $ 927 $ (237 ) $ 157,628 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
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity	The amortized cost and estimated fair value of all investment securities available-for-sale at September 30, 2021, by contractual maturities are shown below. Contractual maturities may differ from expected maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Due in one year or less $ 1,019 $ 1 $ (11 ) $ 1,009 Due after one year through five years 30,034 128 (13 ) 30,149 Due after five years through ten years 20,453 166 (6 ) 20,613 Due after ten years (1) 105,432 632 (207 ) 105,857 $ 156,938 $ 927 $ (237 ) $ 157,628 (1) Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category.

Loans Receivable Held for Inv_2

Loans Receivable Held for Investment (Tables)	9 Months Ended
	Sep. 30, 2021
Loans Receivable Held for Investment [Abstract]
Loans Receivable Held for Investment	Loans receivable held for investment were as follows as of the dates indicated: September 30, 2021 December 31, 2020 (In thousands) Real estate: Single family $ 50,880 $ 48,217 Multi-family 383,401 272,387 Commercial real estate 98,411 24,289 Church 15,057 16,658 Construction 21,076 429 Commercial – other 47,306 57 SBA loans (1) 28,873 - Consumer 12 7 Gross loans receivable before deferred loan costs and premiums 645,016 362,044 Unamortized net deferred loan costs and premiums 843 1,300 Gross loans receivable 645,859 363,344 Allowance for loan losses (3,661 ) (3,215 ) Loans receivable, net $ 642,198 $ 360,129 (1) Including Paycheck Protection Program (PPP) loans.
Carrying Amount of Purchased Credit Impaired Loans	The carrying amount of those loans as of September 30, 2021, was as follows: September 30 , (In thousand s) Real estate: Single family $ 558 Commercial real estate 221 Commercial - other 104 $ 883
Accretable yield on Purchased Credit Impaired Loans	The following table summarizes the accretable yield on the PCI three and nine months ended 30, : Three Months September 30 , 2021 Nine Months September 30 , 2021 (In thousand s) Balance at the beginning of the period $ 327 $ - Additions - 346 Accretion (19 ) (38 ) Balance at the end of the period $ 308 $ 308
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 September 30, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 170 $ 2,606 $ 227 $ 208 $ 81 $ 4 $ - $ - $ 3,296 Provision for (recapture of) loan losses (10 ) 325 32 (18 ) 35 - - 1 365 Recoveries - - - - - - - - - Loans charged off - - - - - - - - - Ending balance $ 160 $ 2,931 $ 259 $ 190 $ 116 $ 4 $ - $ 1 $ 3,661 Three Months Ended September 30, 2020 Real Estate Single Multi- family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 312 $ 2,424 $ 169 $ 282 $ 22 $ 6 $ - $ - $ 3,215 Provision for (recapture of) loan losses 9 1 17 (28 ) - (1 ) - 2 - Recoveries - - - - - - - - - Loans charged off - - - - - - - - - Ending balance $ 321 $ 2,425 $ 186 $ 254 $ 22 $ 5 $ - $ 2 $ 3,215 Nine Months Ended September 30, 2021 Real Estate Single family Multi-family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 296 $ 2,433 $ 222 $ 237 $ 22 $ 4 $ - $ 1 $ 3,215 Provision for (recapture of) loan losses (136 ) 498 37 (47 ) 94 - - - 446 Recoveries - - - - - - - - - Loans charged off - - - - - - - - - Ending balance $ 160 $ 2,931 $ 259 $ 190 $ 116 $ 4 $ - $ 1 $ 3,661 Nine Months Ended September 30, 2020 Real Estate Single family Multi-family Commercial real estate Church Construction Commercial - other SBA Loans Consumer Total (In thousands) Beginning balance $ 312 $ 2,319 $ 133 $ 362 $ 48 $ 7 $ - $ 1 $ 3,182 Provision for (recapture of) loan losses 5 106 53 (108 ) (26 ) (2 ) - 1 29 Recoveries 4 - - - - - - - 4 Loans charged off - - - - - - - - - Ending balance $ 321 $ 2,425 $ 186 $ 254 $ 22 $ 5 $ - $ 2 $ 3,215
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 the dates indicated: September 30, 2021 Real Estate Single family Multi- family Commercial real estate Church Construction Commercial - other SBA Consumer Total (In thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ - $ - $ 27 $ - $ - $ - $ - $ 30 Collectively evaluated for impairment 157 2,931 259 163 116 4 - 1 3,631 Total ending allowance balance $ 160 $ 2,931 $ 259 $ 190 $ 116 $ 4 $ - $ 1 $ 3,661 Loans: Loans individually evaluated for impairment $ 65 $ 286 $ - $ 3,357 $ - $ - $ - $ - $ 3,708 Loans collectively evaluated for impairment 50,922 384,959 98,384 11,371 20,907 47,306 28,290 12 642,151 Total ending loans balance $ 50,987 $ 385,245 $ 98,384 $ 14,728 $ 20,907 $ 47,306 $ 28,290 $ 12 $ 645,859 December 31, 2020 Real Estate Single family Multi- Commercial real estate Church Construction Commercial - other SBA Loans 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 dates indicated: September 30, 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 286 286 - 298 298 - Church 2,468 1,879 - 2,527 1,970 - With an allowance recorded: Single family 65 65 3 573 573 88 Church 1,478 1,478 27 1,842 1,842 52 Commercial - other - - - 47 47 1 Total $ 4,297 $ 3,708 $ 30 $ 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 September 30, 2021 Three Months Ended September 30, 2020 Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income Recognized (In thousands) Single family $ 65 $ 4 $ 589 $ 7 Multi-family 288 5 305 5 Church 3,614 64 3,938 67 Commercial - other - - 50 1 Total $ 3,967 $ 73 $ 4,882 $ 80 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Average Recorded Investment Cash Basis Interest Income Recognized Average Recorded Investment Cash Basis Interest Income (In thousands) Single family $ 318 $ 14 $ 596 $ 22 Multi-family 292 15 308 16 Church 3,710 190 4,094 376 Commercial - other 18 1 57 3 Total $ 4,338 $ 220 $ 5,055 $ 417
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: September 30, 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 $ - $ - $ - $ - $ 50,987 $ 50,987 Multi-family 249 - - 249 384,996 385,245 Commercial real estate - - - - 98,384 98,384 Church - - - - 14,728 14,728 Construction - - - - 20,907 20,907 Commercial - other - - - - 47,306 47,306 SBA loans - - - - 28,290 28,290 Consumer - - - - 12 12 Total $ 249 $ - $ - $ 249 $ 645,610 $ 645,859 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: September 30, 2021 December 31, 2020 (In thousands) Loans receivable held for investment: Single-family residence $ - $ 1 Church 709 786 Total non-accrual loans $ 709 $ 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: September 30, 2021 Pass Watch Special Mention Substandard Doubtful Loss (In thousands) Single family $ 50,987 $ - $ - $ - $ - $ - Multi-family 384,897 - - 348 - - Commercial real estate 96,918 - - 1,466 - - Church 13,045 641 - 1,042 - - Construction 20,907 - - - - - Commercial - other 47,306 - - - - - SBA loans 28,290 - - - - - Consumer 12 - - - - - Total $ 642,362 $ 641 $ - $ 2,856 $ - $ - 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 $ - $ -

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets [Abstract]
Changes in Carrying Amounts of Goodwill and Core Deposit Intangibles	The following table presents the changes in the carrying amounts of goodwill and core deposit intangibles for the three months ended September 30, 2021 : Goodwill Core Deposit Intangible (In thousands) Balance at the beginning of the period $ - $ - Additions 25,996 3,329 Amortization - (262 ) Impairment - - Balance at the end of the period $ 25,996 $ 3,067
Components of Carrying Amount of Core Deposit Intangible	The carrying amount of the core deposit intangible consisted of the following at September 30, 2021: (In thousands) Core deposit intangible acquired $ 3,329 Less: accumulated amortization (262 ) $ 3,067
Estimated Amortization Expense for Core Deposit Intangible	The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years: (In thousands) 2021 $ 131 2022 435 2023 390 2024 336 2025 315 Thereafter 1,460 $ 3,067

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 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 September 30 2021 Securities available-for-sale – federal agency mortgage-backed $ - $ 82,365 $ - $ 82,365 Securities available-for-sale – federal agency CMO - 5,478 - 5,478 Securities available-for-sale – federal agency debt - 36,061 - 36,061 Municipal bonds - 4,933 - 4,933 U. S. Treasuries - 18,167 - 18,167 SBA pools - 10,624 - 10,624 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 September 30, 2021 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) Financial Assets: Cash and cash equivalents $ 208,687 $ 208,687 $ - $ - $ 208,687 Securities available-for-sale 157,628 - 157,628 - 157,628 Loans receivable held for investment 642,198 - - 647,988 647,988 Accrued interest receivables 2,565 206 275 2,084 2,565 Bank owned life insurance 3,179 3,179 - - 3,179 Financial Liabilities: Deposits $ 749,645 $ - $ 749,645 $ - $ 749,645 Securities sold under agreements to repurchase 52,876 - 52,332 - 52,332 Federal Home Loan Bank advances 91,070 - 92,836 - 92,836 Note payable 14,000 - - 14,000 14,000 Accrued interest payable 99 - 99 - 99 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 receivables 1,202 60 14 1,128 1,202 Bank owned life insurance 3,147 3,147 - - 3,147 Financial Liabilities: 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)	9 Months Ended
	Sep. 30, 2021
Stock-based Compensation [Abstract]
Summary of Stock Option Activity	The following table summarizes stock option activity during the nine months ended September 30, 2021 and 2020: Nine Months Ended September 30, 2021 Nine Months Ended September 30, 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 September 30, 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 $ 1.62 450,000 $ 1.62 450,000 4.40 years $ 1.62 $ 481,500 450,000 $ 1.62 $ 481,500

ESOP Plan (Tables)

ESOP Plan (Tables)	9 Months Ended
	Sep. 30, 2021
ESOP Plan [Abstract]
Shares Held by ESOP	Shares held by the ESOP were as follows: September 30, 2021 December 31, 2020 (Dollars in thousands) Allocated to participants 1,092,033 1,065,275 Committed to be released - 10,236 Suspense shares 531,682 562,391 Total ESOP shares 1,623,715 1,637,902 Fair value of unearned shares $ 1,458 $ 1,040

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
	Sep. 30, 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 Amount Ratio (Dollars in thousands) September 30 2021 Community Bank Leverage Ratio (1) $ 98,009 9.41 % $ $ 88,576 8.50 % 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) At the Merger on April 1, 2021, the Company’s former subsidiary, Broadway Federal Bank, f.s.b., was merged into City First Bank of D.C, N. A., with City First Bank of D.C, N.A. as the surviving entity and the resultant bank being named City First Bank, National Association, which had elected to adopt Community Bank Leverage Ratio option on April 1, 2020 as reflected in its September 30, 2020 Call Report.

Basis of Financial Statement _3

Basis of Financial Statement Presentation (Details)	9 Months Ended
	Sep. 30, 2021
Core Deposit Intangible [Member]
Business Combinations [Abstract]
Estimated useful life	10 years

Business Combination, Summary (

Business Combination, Summary (Details) $ / shares in Units, $ in Thousands	Apr. 02, 2021USD ($)$ / shares	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021$ / shares	Dec. 31, 2020USD ($)
Acquisition [Abstract]
Goodwill		$ 25,996	$ 0		$ 0
Common Stock Voting [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
Series A Preferred Stock [Member]
Acquisition [Abstract]
Share conversion ratio	1
CFBanc Corporation [Member]
Acquisition [Abstract]
Assets acquired	$ 471,003
Gross loans	227,669
Deposits acquired	353,671
Consideration transferred	66,300
Goodwill	$ 26,000
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

Business Combination, Assets Ac

Business Combination, Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Liabilities assumed [Abstract]
Goodwill recognized		$ 25,996	$ 0	$ 0
CFBanc Corporation [Member]
Assets acquired [Abstract]
Cash and cash equivalents	$ 84,745
Securities available-for-sale	150,052
Loans receivable held for investment [Abstract]
Gross loans receivable held for investment	227,669
Deferred fees and costs	(315)
Allowance for loan losses	(2,178)
Net loans receivable held for investment	225,176
Accrued interest receivable	1,637
FHLB and FRB stock	1,061
Office properties and equipment	5,152
Deferred tax assets, net	890
Core deposit intangible	0
Other assets	2,290
Total assets	471,003
Liabilities assumed [Abstract]
Deposits	353,671
Securities sold under agreements to repurchase	59,945
FHLB advances	3,057
Notes payable	14,000
Accrued expenses and other liabilities	4,063
Total liabilities	434,736
Excess of assets acquired over liabilities assumed	36,267
Consideration paid	66,300
Goodwill recognized	26,000
CFBanc Corporation [Member] | Fair Value Adjustments [Member]
Assets acquired [Abstract]
Cash and cash equivalents	0
Securities available-for-sale	(77)
Loans receivable held for investment [Abstract]
Gross loans receivable held for investment	(1,784)
Deferred fees and costs	315
Allowance for loan losses	2,178
Net loans receivable held for investment	709
Accrued interest receivable	0
FHLB and FRB stock	0
Office properties and equipment	1,801
Deferred tax assets, net	(1,608)
Core deposit intangible	3,329
Other assets	0
Total assets	4,154
Liabilities assumed [Abstract]
Deposits	51
Securities sold under agreements to repurchase	0
FHLB advances	109
Notes payable	0
Accrued expenses and other liabilities	0
Total liabilities	160
Excess of assets acquired over liabilities assumed	3,994
CFBanc Corporation [Member] | Fair Value [Member]
Assets acquired [Abstract]
Cash and cash equivalents	84,745
Securities available-for-sale	149,975
Loans receivable held for investment [Abstract]
Gross loans receivable held for investment	225,885
Deferred fees and costs	0
Allowance for loan losses	0
Net loans receivable held for investment	225,885
Accrued interest receivable	1,637
FHLB and FRB stock	1,061
Office properties and equipment	6,953
Deferred tax assets, net	(718)
Core deposit intangible	3,329
Other assets	2,290
Total assets	475,157
Liabilities assumed [Abstract]
Deposits	353,722
Securities sold under agreements to repurchase	59,945
FHLB advances	3,166
Notes payable	14,000
Accrued expenses and other liabilities	4,063
Total liabilities	434,896
Excess of assets acquired over liabilities assumed	40,261
Consideration paid	66,257
Goodwill recognized	$ 25,996

Business Combination, Contractu

Business Combination, Contractual Amounts Due, Expected Cash Flows to Be Collected, Interest Component, and Fair Value of Loans Acquired (Details) - CFBanc Corporation [Member] $ in Thousands	Apr. 02, 2021USD ($)
Contractual Amounts Due, Expected Cash Flows to Be Collected, Interest Component, and Fair Value of Loans Acquired [Abstract]
Contractual amounts due	$ 231,432
Cash flows not expected to be collected	(3,666)
Expected cash flows	227,766
Interest component of expected cash flows	(1,881)
Fair value of acquired loans	$ 225,885

Business Combination, Fair Valu

Business Combination, Fair Value of PCI Loans (Details) - CFBanc Corporation [Member] $ in Thousands	Apr. 02, 2021USD ($)
Purchased Credit Impaired Loans Acquired [Abstract]
Contractual amounts due	$ 231,432
Non-accretable difference (cash flows not expected to be collected)	(3,666)
Expected cash flows	227,766
Fair value of acquired loans	225,885
Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans Acquired [Abstract]
Contractual amounts due	1,825
Non-accretable difference (cash flows not expected to be collected)	(634)
Expected cash flows	1,191
Accretable yield	(346)
Fair value of acquired loans	$ 845

Business Combination, Unaudited

Business Combination, Unaudited pro forma information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Unaudited pro forma information [Abstract]
Net interest income	$ 5,978	$ 5,738	$ 16,988	$ 16,068
Net income (loss)	$ 191	$ (343)	$ (3,348)	$ (157)
Basic earnings per share (in dollars per share)	$ 0	$ (0.01)	$ (0.05)	$ 0
Diluted earnings per share (in dollars per share)	$ 0	$ (0.01)	$ (0.05)	$ 0

Capital Raise, Common Stock Iss

Capital Raise, Common Stock Issued by Class (Details) $ / shares in Units, $ in Millions	Apr. 06, 2021$ / sharesshares	Apr. 06, 2021USD ($)$ / sharesshares
Common Stock Issued by Class [Abstract]
Shares outstanding (in shares)	27,898,894
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
Private Placement [Member]
Common Stock Issued by Class [Abstract]
Purchase price of common stock (in dollars per share) | $ / shares	$ 1.78	$ 1.78
Aggregate purchase price | $		$ 32.9
Shares issued in private placements (in shares)		18,474,000
Voting Class A Common Stock [Member]
Common Stock Issued by Class [Abstract]
Shares outstanding (in shares)	19,142,498
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 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 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

Earnings Per Share of Common _3

Earnings Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic and Diluted Earnings (Loss) Per Share of Common Stock [Abstract]
Net income (loss) loss attributable to Broadway Financial Corporation	$ 182	$ (244)	$ (2,604)	$ (61)
Less net income attributable to participating securities	0	(2)	0	(1)
Income (loss) available to common stockholders	$ 182	$ (242)	$ (2,604)	$ (61)
Weighted average common shares outstanding for basic earnings (loss) per common share (in shares)	71,222,869	27,224,344	56,403,545	27,114,022
Add: dilutive effects of unvested restricted stock awards (in shares)	228,082	0	0	0
Weighted average common shares outstanding for diluted earnings (loss) per common share (in shares)	71,450,951	27,224,344	56,403,545	27,114,022
Earnings (loss) per common share - basic (in dollars per share)	$ 0	$ (0.01)	$ (0.05)	$ 0
Earnings (loss) per common share - diluted (in dollars per share)	$ 0	$ (0.01)	$ (0.05)	$ 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	450,000	450,000
Unvested Restricted Stock Awards [Member]
Earnings Per Share of Common Stock [Abstract]
Anti-dilutive stock not considered in computing diluted earnings per common share (in shares)	0

Securities (Details)

Securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)Security	Dec. 31, 2020USD ($)
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 156,938	$ 10,232
Gross unrealized gains	927	466
Gross unrealized losses	(237)	0
Fair value	$ 157,628	10,698
Securities [Abstract]
Number of securities held | Security	145
Estimated average remaining life	4 years
Federal Agency Mortgage-backed Securities [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 81,943	5,550
Gross unrealized gains	506	257
Gross unrealized losses	(84)	0
Fair value	$ 82,365	5,807
Securities [Abstract]
Number of securities held | Security	99
Estimated average remaining life	4 years 9 months 18 days
Federal Agency CMO [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 5,509
Gross unrealized gains	0
Gross unrealized losses	(31)
Fair value	$ 5,478
Securities [Abstract]
Number of securities held | Security	8
Estimated average remaining life	3 years 8 months 12 days
Federal Agency Debt [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 35,724	2,682
Gross unrealized gains	348	190
Gross unrealized losses	(11)	0
Fair value	$ 36,061	2,872
Securities [Abstract]
Number of securities held | Security	13
Estimated average remaining life	6 years 1 month 6 days
Municipal Bonds [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 4,906	2,000
Gross unrealized gains	33	19
Gross unrealized losses	(6)	0
Fair value	$ 4,933	$ 2,019
Securities [Abstract]
Number of securities held | Security	9
Estimated average remaining life	7 years
US Treasuries [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 18,180
Gross unrealized gains	0
Gross unrealized losses	(13)
Fair value	$ 18,167
Securities [Abstract]
Number of securities held | Security	9
Estimated average remaining life	3 years 9 months 18 days
SBA Pools [Member]
Available-for-Sale Investment Securities Portfolios [Abstract]
Amortized cost	$ 10,676
Gross unrealized gains	40
Gross unrealized losses	(92)
Fair value	$ 10,624
Securities [Abstract]
Number of securities held | Security	5
Estimated average remaining life	5 years 9 months 18 days

Securities, Contractual Maturit

Securities, Contractual Maturities (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Available for sale, amortized cost [Abstract]
Due in one year or less		$ 1,019
Due after one year through five years		30,034
Due after five years through ten years		20,453
Due after ten years	[1]	105,432
Amortized cost		156,938	$ 10,232
Available for sale, gross unrealized gain [Abstract]
Due in one year or less		1
Due after one year through five years		128
Due after five years through ten years		166
Due after ten years	[1]	632
Gross unrealized gains		927	466
Available for sale, gross unrealized loss [Abstract]
Due in one year or less		(11)
Due after one year through five years		(13)
Due after five years through ten years		(6)
Due after ten years	[1]	(207)
Gross unrealized losses		(237)	0
Available for sale, fair value [Abstract]
Due in one year or less		1,009
Due after one year through five years		30,149
Due after five years through ten years		20,613
Due after ten years	[1]	105,857
Fair value		$ 157,628	$ 10,698
[1]	Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category.

Securities, Unrealized Gains (L

Securities, Unrealized Gains (Losses) and Fair Value (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)Security	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Security	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Available-for-sale Securities in Continuous Unrealized Loss Position [Abstract]
Number of securities held with unrealized losses | Security	58		58
Securities held with unrealized losses	$ 237		$ 237
Number of securities have been in loss position for greater than one year | Security	0		0
Securities collateral pledged	$ 71,400		$ 71,400		$ 0
Securities sold under agreements to repurchase	52,876		52,876		0
Securities pledged to secure public deposits	0		0		0
Securities of any one issuer, other than U.S. Government, exceeding 10% of stockholders' equity	0		0		$ 0
Sales of securities	0	$ 0	0	$ 0
U.S. Government Agency Securities [Member]
Available-for-sale Securities in Continuous Unrealized Loss Position [Abstract]
Securities collateral pledged	23,400		23,400
Mortgage Backed Securities [Member]
Available-for-sale Securities in Continuous Unrealized Loss Position [Abstract]
Securities collateral pledged	43,800		43,800
Collateralized Mortgage Obligations [Member]
Available-for-sale Securities in Continuous Unrealized Loss Position [Abstract]
Securities collateral pledged	$ 4,200		$ 4,200

Loans Receivable Held for Inv_3

Loans Receivable Held for Investment (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		$ 645,016		$ 362,044
Unamortized net deferred loan costs and premiums		843		1,300
Gross loans receivable		645,859		363,344
Allowance for loan losses		(3,661)	$ (3,296)	(3,215)	$ (3,215)	$ (3,215)	$ (3,182)
Loans receivable, net		642,198		360,129
Real Estate [Member] | Single Family [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		50,880		48,217
Gross loans receivable		50,987		48,357
Allowance for loan losses		(160)	(170)	(296)	(321)	(312)	(312)
Real Estate [Member] | Multi-Family [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		383,401		272,387
Gross loans receivable		385,245		273,864
Allowance for loan losses		(2,931)	(2,606)	(2,433)	(2,425)	(2,424)	(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		98,411		24,289
Gross loans receivable		98,384		24,322
Allowance for loan losses		(259)	(227)	(222)	(186)	(169)	(133)
Real Estate [Member] | Church [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		15,057		16,658
Gross loans receivable		14,728		16,308
Allowance for loan losses		(190)	(208)	(237)	(254)	(282)	(362)
Real Estate [Member] | Construction [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		21,076		429
Gross loans receivable		20,907		430
Allowance for loan losses		(116)	(81)	(22)	(22)	(22)	(48)
Commercial - Other [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		47,306		57
Gross loans receivable		47,306		56
Allowance for loan losses		(4)	(4)	(4)	(5)	(6)	(7)
SBA Loans [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums	[1]	28,873		0
Gross loans receivable		28,290		0
Allowance for loan losses		0	0	0	0	0	0
Consumer [Member]
Loans Receivable Held for Investment, Net [Abstract]
Gross loans receivable before deferred loan costs and premiums		12		7
Gross loans receivable		12		7
Allowance for loan losses		$ (1)	$ 0	$ (1)	$ (2)	$ 0	$ (1)
[1]	Including Paycheck Protection Program (PPP) loans.

Loans Receivable Held for Inv_4

Loans Receivable Held for Investment, Purchased Credit Impaired (PCI) Loans (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)Loan	Sep. 30, 2021USD ($)Loan	Dec. 31, 2020USD ($)
Purchased Credit Impaired Loans [Abstract]
Number of acquired loans with evidence of credit deterioration of credit quality since origination at acquisition | Loan	0	0
Loans receivable	$ 642,198	$ 642,198	$ 360,129
Accretable Yield on Purchased Credit Impaired Loans [Roll Forward]
Number of purchased credit impaired loans classified as nonaccrual | Loan	0	0
Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	$ 883	$ 883
Accretable Yield on Purchased Credit Impaired Loans [Roll Forward]
Balance at the beginning of the period	327	0
Additions	0	346
Accretion	(19)	(38)
Balance at the end of the period	308	308
Real Estate [Member] | Single Family [Member] | Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	558	558
Real Estate [Member] | Commercial Real Estate [Member] | Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	221	221
Commercial - Other [Member] | Purchased Credit Impaired Loans [Member]
Purchased Credit Impaired Loans [Abstract]
Loans receivable	$ 104	$ 104

Loans Receivable Held for Inv_5

Loans Receivable Held for Investment, Activity in Allowance for Loan Losses by Loan Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	$ 3,296	$ 3,215	$ 3,215	$ 3,182
Provision for (recapture of) loan losses	365	0	446	29
Recoveries	0	0	0	4
Loans charged off	0	0	0	0
Ending balance	3,661	3,215	3,661	3,215
Real Estate [Member] | Single Family [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	170	312	296	312
Provision for (recapture of) loan losses	(10)	9	(136)	5
Recoveries	0	0	0	4
Loans charged off	0	0	0	0
Ending balance	160	321	160	321
Real Estate [Member] | Multi-Family [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	2,606	2,424	2,433	2,319
Provision for (recapture of) loan losses	325	1	498	106
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	2,931	2,425	2,931	2,425
Real Estate [Member] | Commercial Real Estate [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	227	169	222	133
Provision for (recapture of) loan losses	32	17	37	53
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	259	186	259	186
Real Estate [Member] | Church [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	208	282	237	362
Provision for (recapture of) loan losses	(18)	(28)	(47)	(108)
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	190	254	190	254
Real Estate [Member] | Construction [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	81	22	22	48
Provision for (recapture of) loan losses	35	0	94	(26)
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	116	22	116	22
Commercial - Other [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	4	6	4	7
Provision for (recapture of) loan losses	0	(1)	0	(2)
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	4	5	4	5
SBA Loans [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	0	0	0	0
Provision for (recapture of) loan losses	0	0	0	0
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	0	0	0	0
Consumer [Member]
Allowance for Loan and Lease Losses by Loan Type [Roll Forward]
Beginning balance	0	0	1	1
Provision for (recapture of) loan losses	1	2	0	1
Recoveries	0	0	0	0
Loans charged off	0	0	0	0
Ending balance	$ 1	$ 2	$ 1	$ 2

Loans Receivable Held for Inv_6

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	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	$ 30		$ 141
Collectively evaluated for impairment	3,631		3,074
Total ending allowance balance	3,661	$ 3,296	3,215	$ 3,215	$ 3,215	$ 3,182
Loans [Abstract]
Loans individually evaluated for impairment	3,708		4,731
Loans collectively evaluated for impairment	642,151		358,613
Gross loans receivable	645,859		363,344
Real Estate [Member] | Single Family [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	3		89
Collectively evaluated for impairment	157		207
Total ending allowance balance	160	170	296	321	312	312
Loans [Abstract]
Loans individually evaluated for impairment	65		573
Loans collectively evaluated for impairment	50,922		47,784
Gross loans receivable	50,987		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	2,931		2,433
Total ending allowance balance	2,931	2,606	2,433	2,425	2,424	2,319
Loans [Abstract]
Loans individually evaluated for impairment	286		298
Loans collectively evaluated for impairment	384,959		273,566
Gross loans receivable	385,245		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	259		222
Total ending allowance balance	259	227	222	186	169	133
Loans [Abstract]
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	98,384		24,322
Gross loans receivable	98,384		24,322
Real Estate [Member] | Church [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	27		52
Collectively evaluated for impairment	163		185
Total ending allowance balance	190	208	237	254	282	362
Loans [Abstract]
Loans individually evaluated for impairment	3,357		3,813
Loans collectively evaluated for impairment	11,371		12,495
Gross loans receivable	14,728		16,308
Real Estate [Member] | Construction [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	116		22
Total ending allowance balance	116	81	22	22	22	48
Loans [Abstract]
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	20,907		430
Gross loans receivable	20,907		430
Commercial - Other [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	4		4
Total ending allowance balance	4	4	4	5	6	7
Loans [Abstract]
Loans individually evaluated for impairment	0		47
Loans collectively evaluated for impairment	47,306		9
Gross loans receivable	47,306		56
SBA Loans [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	0		0
Total ending allowance balance	0	0	0	0	0	0
Loans [Abstract]
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	28,290		0
Gross loans receivable	28,290		0
Consumer [Member]
Ending Allowance Balance Attributable to Loans [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	1		1
Total ending allowance balance	1	$ 0	1	$ 2	$ 0	$ 1
Loans [Abstract]
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	12		7
Gross loans receivable	$ 12		$ 7

Loans Receivable Held for Inv_7

Loans Receivable Held for Investment, Loans Individually Evaluated for Impairment by Loan Type (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
With an Allowance Recorded [Abstract]
Allowance for loan losses allocated	$ 30	$ 141
Total [Abstract]
Unpaid principal balance	4,297	5,289
Recorded investment	3,708	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	65	573
Recorded investment	65	573
Allowance for loan losses allocated	3	88
Real Estate [Member] | Multi-Family [Member]
With No Related Allowance Recorded [Abstract]
Unpaid principal balance	286	298
Recorded investment	286	298
Real Estate [Member] | Church [Member]
With No Related Allowance Recorded [Abstract]
Unpaid principal balance	2,468	2,527
Recorded investment	1,879	1,970
With an Allowance Recorded [Abstract]
Unpaid principal balance	1,478	1,842
Recorded investment	1,478	1,842
Allowance for loan losses allocated	27	52
Commercial - Other [Member]
With an Allowance Recorded [Abstract]
Unpaid principal balance	0	47
Recorded investment	0	47
Allowance for loan losses allocated	$ 0	$ 1

Loans Receivable Held for Inv_8

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	$ 3,967	$ 4,882	$ 4,338	$ 5,055
Cash basis interest income recognized	73	80	220	417
Foregone interest income	19	22	38	67
30 - 89 Days Past Due [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Loans delinquent amount	249		249
Real Estate [Member] | Single Family [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	65	589	318	596
Cash basis interest income recognized	4	7	14	22
Real Estate [Member] | Multi-Family [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	288	305	292	308
Cash basis interest income recognized	5	5	15	16
Real Estate [Member] | Church [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	3,614	3,938	3,710	4,094
Cash basis interest income recognized	64	67	190	376
Commercial - Other [Member]
Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income [Abstract]
Average recorded investment	0	50	18	57
Cash basis interest income recognized	$ 0	$ 1	$ 1	$ 3

Loans Receivable Held for Inv_9

Loans Receivable Held for Investment, Aging of Recorded Investment in Past Due Loans by Loan Type (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	$ 645,859	$ 363,344
Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	249	0
30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	249	0
60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	645,610	363,344
Church [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	50,987	48,357
Real Estate [Member] | Single Family [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	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]
Recorded total loans	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]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	50,987	48,357
Real Estate [Member] | Multi-Family [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	385,245	273,864
Real Estate [Member] | Multi-Family [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	249	0
Real Estate [Member] | Multi-Family [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	249	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]
Recorded total loans	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]
Recorded total loans	0	0
Real Estate [Member] | Multi-Family [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	384,996	273,864
Real Estate [Member] | Commercial Real Estate [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	98,384	24,322
Real Estate [Member] | Commercial Real Estate [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
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]
Recorded total loans	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]
Recorded total loans	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]
Recorded total loans	0	0
Real Estate [Member] | Commercial Real Estate [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	98,384	24,322
Real Estate [Member] | Church [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	14,728	16,308
Real Estate [Member] | Church [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Church [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	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]
Recorded total loans	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]
Recorded total loans	0	0
Real Estate [Member] | Church [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	14,728	16,308
Real Estate [Member] | Construction [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	20,907	430
Real Estate [Member] | Construction [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Construction [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	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]
Recorded total loans	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]
Recorded total loans	0	0
Real Estate [Member] | Construction [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	20,907	430
Commercial - Other [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	47,306	56
Commercial - Other [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Commercial - Other [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	47,306	56
SBA Loans [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	28,290	0
SBA Loans [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0
SBA Loans [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0
SBA Loans [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0
SBA Loans [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0
SBA Loans [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	28,290
Consumer [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	12	7
Consumer [Member] | Total Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | 30-59 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | 60-89 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | Greater than 90 Days Past Due [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	0	0
Consumer [Member] | Current [Member]
Aging of Recorded Investment in Past Due Loans by Loan Type [Abstract]
Recorded total loans	$ 12	$ 7

Loans Receivable Held for In_10

Loans Receivable Held for Investment, Recorded Investment in Non-accrual Loans by Loan Type (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	$ 709	$ 787
Loans 90 days or more delinquent that were accruing interest	0	0
Recorded total loans	645,859	363,344
Delinquent [Member]
Loans Receivable Held for Investment [Abstract]
Recorded total loans	249	0
Church [Member] | Delinquent [Member]
Loans Receivable Held for Investment [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Single Family [Member]
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	0	1
Recorded total loans	50,987	48,357
Real Estate [Member] | Single Family [Member] | Delinquent [Member]
Loans Receivable Held for Investment [Abstract]
Recorded total loans	0	0
Real Estate [Member] | Church [Member]
Loans Receivable Held for Investment [Abstract]
Total non-accrual loans	709	786
Recorded total loans	14,728	16,308
Real Estate [Member] | Church [Member] | Delinquent [Member]
Loans Receivable Held for Investment [Abstract]
Recorded total loans	$ 0	$ 0

Loans Receivable Held for In_11

Loans Receivable Held for Investment, Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)ModificationBorrowerLoan	Sep. 30, 2020Loan	Sep. 30, 2021USD ($)LoanModificationBorrower	Sep. 30, 2020Loan	Dec. 31, 2020USD ($)
Troubled Debt Restructurings [Abstract]
Loans classified as troubled debt restructurings	$ 3,700		$ 3,700		$ 4,200
Specific reserves allocated to TDRs	30		$ 30		141
Timely payment period for return to accrual status			6 months
Commitments to lend additional amounts to customers with TDRs	$ 0		$ 0		0
Number of loans modified | Loan	0	0	0	0
COVID-19 [Member]
Troubled Debt Restructurings [Abstract]
Number of borrowers have requested for loan modifications | Borrower	0		0
Number of loan modifications granted | Modification	0		0
Non-accrual Status [Member]
Troubled Debt Restructurings [Abstract]
Loans classified as troubled debt restructurings	$ 405		$ 405		232
Accrual Status [Member]
Troubled Debt Restructurings [Abstract]
Loans classified as troubled debt restructurings	$ 3,300		$ 3,300		$ 4,000

Loans Receivable Held for In_12

Loans Receivable Held for Investment, Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	$ 645,859	$ 363,344
Loan made to Qualified Active Low Income Business	14,000
Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	642,362	358,037
Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	641	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	2,856	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	50,987	48,357
Real Estate [Member] | Single Family [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	50,987	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	385,245	273,864
Real Estate [Member] | Multi-Family [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	384,897	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	348	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	98,384	24,322
Real Estate [Member] | Commercial Real Estate [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	96,918	22,834
Real Estate [Member] | Commercial Real Estate [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0	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	1,466	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	14,728	16,308
Real Estate [Member] | Church [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	13,045	12,899
Real Estate [Member] | Church [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	641	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	1,042	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	20,907	430
Real Estate [Member] | Construction [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	20,907	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	47,306	56
Commercial - Other [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	47,306	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	0	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
SBA Loans [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	28,290	0
SBA Loans [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	28,290
SBA Loans [Member] | Watch [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0
SBA Loans [Member] | Special Mention [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0
SBA Loans [Member] | Substandard [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0
SBA Loans [Member] | Doubtful [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0
SBA Loans [Member] | Loss [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	0
Consumer [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	12	7
Consumer [Member] | Pass [Member]
Risk Grade Category of Loans by Loan Type [Abstract]
Loans receivable	12	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

Leases (Details)

Leases (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)Option	Sep. 30, 2021USD ($)Option
Operating Lease [Abstract]
Number of options to extend | Option	1	1
Operating lease, extension term	5 years	5 years
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Office properties and equipment, net	Office properties and equipment, net
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Rent expense under operating lease | $	$ 0	$ 0

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Goodwill and Core Deposit Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Changes in Carrying Amount of Goodwill [Roll Forward]
Balance, beginning of period	$ 0		$ 0
Additions	25,996
Amortization	0
Impairment	0
Balance, end of period	25,996		25,996
Changes in Carrying Amount of Core Deposit Intangibles [Roll Forward]
Balance, beginning of period			0
Amortization	131	$ 0	262	$ 0
Balance, end of period	3,067		3,067
Core Deposit Intangible [Member]
Changes in Carrying Amount of Core Deposit Intangibles [Roll Forward]
Balance, beginning of period	0
Additions	3,329
Amortization	(262)
Impairment	0
Balance, end of period	$ 3,067		$ 3,067

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Components of Carrying Amount of Core Deposit Intangible (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Components of Carrying Amount of Core Deposit Intangible [Abstract]
Net core deposit intangible	$ 3,067		$ 0
Core Deposit Intangible [Member]
Components of Carrying Amount of Core Deposit Intangible [Abstract]
Core deposit intangible acquired	3,329
Less: accumulated amortization	(262)
Net core deposit intangible	$ 3,067	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Estimated amortization expense [Abstract]
Net core deposit intangible	$ 3,067		$ 0
Core Deposit Intangible [Member]
Estimated amortization expense [Abstract]
2021	131
2022	435
2023	390
2024	336
2025	315
Thereafter	1,460
Net core deposit intangible	$ 3,067	$ 0

Borrowings, Liabilities Securit

Borrowings, Liabilities Securities Sold under Agreements to Repurchase (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Repurchase Agreements [Abstract]
Securities sold under agreements to repurchase	$ 52,876	$ 0
Securities collateral pledged	$ 71,400	$ 0
Weighted average rate on repurchase agreements	0.10%
U.S. Government Agency Securities [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	$ 23,400
Mortgage Backed Securities [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	43,800
Collateralized Mortgage Obligations [Member]
Repurchase Agreements [Abstract]
Securities collateral pledged	$ 4,200

Borrowings, Other Borrowings (D

Borrowings, Other Borrowings (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)Note	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Abstract]
Advances from Federal Home Loan Banks	$ 91,070		$ 110,500
Weighted average interest rate	1.91%		1.94%
Weighted average contractual maturity	26 months		27 months
FHLB advances, collateral real estate loans	$ 176,500
Junior subordinated debentures	0		$ 3,315
Payment of principal amount	3,315	$ 765
Notes payable	$ 14,000		$ 0
Number of notes payables | Note	2
Note A [Member]
Debt Instrument [Abstract]
Debt instrument, maturity date	Dec. 1, 2040
Notes payable	$ 9,900
Interest rate	5.20%
Note B [Member]
Debt Instrument [Abstract]
Debt instrument, maturity date	Dec. 1, 2040
Notes payable	$ 4,100
Interest rate	0.24%

Fair Value, Assets Measured on

Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	$ 157,628		$ 157,628		$ 10,698
Transfer between level 1 and level 2	0	$ 0	0	$ 0
Transfer between level 2 and level 1	0	0	0	0
Transfer into level 3	0	0	0	0
Transfer out of level 3	0	$ 0	0	$ 0
Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	82,365		82,365		5,807
Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	5,478		5,478
Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	36,061		36,061		2,872
Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	4,933		4,933		2,019
US Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	18,167		18,167
SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	10,624		10,624
Recurring Basis [Member] | Federal Agency Mortgage-backed [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	82,365		82,365		5,807
Recurring Basis [Member] | Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	5,478		5,478
Recurring Basis [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	36,061		36,061		2,872
Recurring Basis [Member] | Municipal Bonds [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	4,933		4,933		2,019
Recurring Basis [Member] | US Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	18,167		18,167
Recurring Basis [Member] | SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	10,624		10,624
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		0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Federal Agency CMO [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		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		0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | US Treasuries [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] | SBA Pools [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	82,365		82,365		5,807
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency CMO [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	5,478		5,478
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Debt [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	36,061		36,061		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	4,933		4,933		2,019
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | US Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	18,167		18,167
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | SBA Pools [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	10,624		10,624
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		0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Federal Agency CMO [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		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		$ 0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | US Treasuries [Member]
Assets Measured on Recurring Basis [Abstract]
Securities available-for-sale	0		0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | SBA Pools [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	Sep. 30, 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	Sep. 30, 2021	Dec. 31, 2020
Financial Assets [Abstract]
Securities available-for-sale	$ 157,628	$ 10,698
Carrying Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	208,687	96,109
Securities available-for-sale	157,628	10,698
Loans receivable held for investment	642,198	360,129
Accrued interest receivables	2,565	1,202
Bank owned life insurance	3,179	3,147
Financial Liabilities [Abstract]
Deposits	749,645	315,630
Securities sold under agreements to repurchase	52,876
Federal Home Loan Bank advances	91,070	110,500
Junior subordinated debentures		3,315
Note payable	14,000
Accrued interest payable	99	88
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	208,687	96,109
Securities available-for-sale	157,628	10,698
Loans receivable held for investment	647,988	366,279
Accrued interest receivables	2,565	1,202
Bank owned life insurance	3,179	3,147
Financial Liabilities [Abstract]
Deposits	749,645	312,725
Securities sold under agreements to repurchase	52,332
Federal Home Loan Bank advances	92,836	113,851
Junior subordinated debentures		2,798
Note payable	14,000
Accrued interest payable	99	88
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	208,687	96,109
Securities available-for-sale	0	0
Loans receivable held for investment	0	0
Accrued interest receivables	206	60
Bank owned life insurance	3,179	3,147
Financial Liabilities [Abstract]
Deposits	0	0
Securities sold under agreements to repurchase	0
Federal Home Loan Bank advances	0	0
Junior subordinated debentures		0
Note payable	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	157,628	10,698
Loans receivable held for investment	0	0
Accrued interest receivables	275	14
Bank owned life insurance	0	0
Financial Liabilities [Abstract]
Deposits	749,645	312,725
Securities sold under agreements to repurchase	52,332
Federal Home Loan Bank advances	92,836	113,851
Junior subordinated debentures		0
Note payable	0
Accrued interest payable	99	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	647,988	366,279
Accrued interest receivables	2,084	1,128
Bank owned life insurance	0	0
Financial Liabilities [Abstract]
Deposits	0	0
Securities sold under agreements to repurchase	0
Federal Home Loan Bank advances	0	0
Junior subordinated debentures		2,798
Note payable	14,000
Accrued interest payable	$ 0	$ 4

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2018
Restricted Stock [Member]
Stock-based Compensation [Abstract]
Unvested restricted stock outstanding (in shares)	0	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)	533,169	533,169
Shares available for awards (in shares)	759,940	759,940
2018 LTIP [Member] | Chief Executive Officer [Member] | Restricted Stock [Member]
Stock-based Compensation [Abstract]
Restricted stock awards issued (in shares)	64,516
Restricted stock awards vested (in shares)	64,516
Restricted stock awards vested, cost	$ 200
Restricted stock awards cancelled (in shares)	21,354

Stock-based Compensation, Stock

Stock-based Compensation, Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 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	450,000	450,000
Exercisable at end of period (in shares)	450,000	360,000	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	1.62	1.62
Exercisable at end of period (in dollars per share)	$ 1.62	$ 1.62	$ 1.62	$ 1.62
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock based compensation expense	$ 0	$ 10	$ 7	$ 20

Stock-based Compensation, Optio

Stock-based Compensation, Options Outstanding and Exercisable (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Options, Outstanding [Abstract]
Number Outstanding (in shares) | shares	450,000
Weighted Average Remaining Contractual Life	4 years 4 months 24 days
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Aggregate Intrinsic Value | $	$ 481,500
Options, Exercisable [Abstract]
Number Outstanding ( in shares) | shares	450,000
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1.62
Aggregate Intrinsic Value | $	$ 481,500
Grant Date February 24, 2016 [Member]
Options, Outstanding [Abstract]
Number Outstanding (in shares) | shares	450,000
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 Plan (Details)

ESOP Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
ESOP Plan [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		$ 34	$ 18	$ 81	$ 50
Shares Held by ESOP [Abstract]
Allocated to participants (in shares)		1,092,033		1,092,033		1,065,275
Committed to be released (in shares)		0		0		10,236
Suspense shares (in shares)		531,682		531,682		562,391
Total ESOP shares (in shares)		1,623,715		1,623,715		1,637,902
Fair value of unearned shares		$ 1,458		$ 1,458		$ 1,040
Unearned ESOP shares		$ 844		$ 844		$ 893

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Sep. 30, 2021USD ($)	[1]	Dec. 31, 2020USD ($)
Actual [Abstract]
Tier 1/Community Bank Leverage Ratio, Amount	$ 98,009		$ 46,565
Tier 1/Community Bank Leverage Ratio, Ratio	0.0941		0.0954
Common Equity Tier 1, Amount			$ 46,565
Common Equity Tier 1, Ratio			0.1895
Tier 1, Amount			$ 46,565
Tier 1, Ratio			0.1895
Total Capital, Amount			$ 49,802
Total Capital, Ratio			0.2020
Minimum Capital Requirements [Abstract]
Tier 1/Community Bank Leverage Ratio, Amount			$ 19,530
Tier 1/Community Bank Leverage Ratio, Ratio			0.0400
Common Equity Tier 1, Amount			$ 11,059
Common Equity Tier 1, Ratio			0.0450
Tier 1, Amount			$ 14,746
Tier 1, Ratio			0.0600
Total Capital, Amount			$ 19,661
Total Capital, Ratio			0.0800
Minimum Required To Be Well Capitalized Under Prompt Corrective Action Provisions [Abstract]
Tier 1/Community Bank Leverage Ratio, Amount	$ 88,576		$ 24,413
Tier 1/Community Bank Leverage Ratio, Ratio	0.0850		0.0500
Common Equity Tier 1, Amount			$ 15,975
Common Equity Tier 1, Ratio			0.0650
Tier 1, Amount			$ 19,661
Tier 1, Ratio			0.0800
Total Capital, Amount			$ 24,577
Total Capital, Ratio			0.1000
[1]	At the Merger on April 1, 2021, the Company’s former subsidiary, Broadway Federal Bank, f.s.b., was merged into City First Bank of D.C, N. A., with City First Bank of D.C, N.A. as the surviving entity and the resultant bank being named City First Bank, National Association, which had elected to adopt Community Bank Leverage Ratio option on April 1, 2020 as reflected in its September 30, 2020 Call Report.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Valuation Allowance [Abstract]
Cumulative losses lookback period	2 years
Deferred tax assets, impairment allowance	$ 370	$ 0

Concentration of Credit Risk (D

Concentration of Credit Risk (Details) - Customer Concentration Risk [Member]	9 Months Ended
	Sep. 30, 2021Customer
Deposits [Member]
Concentration Percentage [Abstract]
Number of significant customers	1
Deposits [Member] | One Customer [Member]
Concentration Percentage [Abstract]
Percentage of concentration risk	9.00%
Securities Sold under Agreements to Repurchase [Member]
Concentration Percentage [Abstract]
Number of significant customers	1
Securities Sold under Agreements to Repurchase [Member] | One Customer [Member]
Concentration Percentage [Abstract]
Percentage of concentration risk	66.00%