OptimumBank (OPHC) 10-Q12 Nov 202020 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Nov. 12, 2020
Cover [Abstract]
Entity Registrant Name	OptimumBank Holdings, Inc.
Entity Central Index Key	0001288855
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,951,353
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Cash and due from banks	$ 25,868	$ 2,111
Interest-bearing deposits with banks	19,403	6,823
Total cash and cash equivalents	45,271	8,934
Debt securities available for sale	7,460	5,409
Debt securities held-to-maturity (fair value of $4,794 and $5,986)	4,571	5,806
Loans, net of allowance for loan losses of $2,145 and $2,009	144,532	102,233
Federal Home Loan Bank stock	1,092	642
Premises and equipment, net	1,423	1,389
Right-of-use operating lease assets	942	1,055
Accrued interest receivable	1,544	432
Foreclosed real estate	681
Other assets	1,088	848
Total assets	208,604	126,748
Liabilities:
Noninterest-bearing demand deposits	49,946	10,545
Savings, NOW and money-market deposits	89,501	55,475
Time deposits	28,269	35,352
Total deposits	167,716	101,372
Federal Home Loan Bank advances	23,000	13,000
Junior subordinated debenture	2,580	2,580
Official checks	143	208
Operating lease liabilities	958	1,061
Other liabilities	523	1,320
Total liabilities	194,920	119,541
Commitments and contingencies (Notes 8 and 11)
Stockholders' equity:
Common stock, $.01 par value; 10,000,000 shares authorized, 2,951,353 shares issued and outstanding in 2020 and 2,853,171 shares issued and outstanding in 2019	29	28
Additional paid-in capital	46,532	38,994
Accumulated deficit	(32,761)	(31,610)
Accumulated other comprehensive loss	(116)	(205)
Total stockholders' equity	13,684	7,207
Total liabilities and stockholders' equity	208,604	126,748
Designated Series A Preferred Stock [Member]
Stockholders' equity:
Preferred stock value
Designated Series B Preferred Stock [Member]
Stockholders' equity:
Preferred stock value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt securities held to maturity, fair value	$ 4,794	$ 5,986
Loans, allowance for loan losses	$ 2,145	$ 2,009
Preferred stock, par value
Preferred stock, shares authorized	6,000,000	6,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	2,951,353	2,853,171
Common stock, shares outstanding	2,951,353	2,853,171
Designated Series A Preferred Stock [Member]
Preferred stock, par value
Preferred stock, shares issued
Preferred stock, shares outstanding
Designated Series B Preferred Stock [Member]
Preferred stock, par value
Preferred stock, shares issued	280
Preferred stock, shares outstanding	280

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Loans	$ 1,723	$ 1,140	$ 4,697	$ 3,328
Debt securities	41	63	136	184
Other	7	58	67	184
Total interest income	1,771	1,261	4,900	3,696
Interest expense:
Deposits	290	408	1,047	1,057
Borrowings	96	130	322	415
Total interest expense	386	538	1,369	1,472
Net interest income	1,385	723	3,531	2,224
Provision for loan losses	524	45	1,236	45
Net interest income after provision for loan losses	861	678	2,295	2,179
Noninterest income:
Service charges and fees	1	4	52	11
Other	63	25	118	142
Total noninterest income	64	29	170	153
Noninterest expenses:
Salaries and employee benefits	582	492	1,616	1,522
Professional fees	121	114	368	341
Occupancy and equipment	146	119	435	366
Data processing	132	141	381	394
Insurance	21	24	66	66
Regulatory assessment	59	18	129	40
Other	360	79	621	511
Total noninterest expenses	1,421	987	3,616	3,240
Net loss before income tax benefit	(496)	(280)	(1,151)	(908)
Income tax benefit				(52)
Net loss	$ (496)	$ (280)	$ (1,151)	$ (856)
Net loss per share - Basic and diluted	$ (0.17)	$ (.15)	$ (0.39)	$ (.45)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net loss	$ (496)	$ (280)	$ (1,151)	$ (856)
Change in unrealized gain on debt securities-
Unrealized (loss) gain arising during the year	(30)	5	36	80
Amortization of unrealized loss on debt securities transferred to held-to-maturity	35	28	83	67
Other comprehensive income before income tax expense	5	33	119	147
Deferred income tax expense on above change	(2)	(8)	(30)	(37)
Total other comprehensive income	3	25	89	110
Comprehensive loss	$ (493)	$ (255)	$ (1,062)	$ (746)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Preferred Stock Series A [Member]	Preferred Stock Series B [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance beginning at Dec. 31, 2018			$ 18	$ 36,128	$ (30,510)	$ (330)	$ 5,306
Balance beginning, shares at Dec. 31, 2018			1,858,020
Net change in unrealized loss (gain) on securities available for sale, net of income taxes						3	3
Amortization of unrealized loss on debt securities transferred to held-to-maturity, net of income taxes						14	14
Net loss					(146)		(146)
Balance ending at Mar. 31, 2019			$ 18	36,128	(30,656)	(313)	5,177
Balance ending, shares at Mar. 31, 2019			1,858,020
Balance beginning at Dec. 31, 2018			$ 18	36,128	(30,510)	(330)	5,306
Balance beginning, shares at Dec. 31, 2018			1,858,020
Net loss							(856)
Balance ending at Sep. 30, 2019			$ 19	36,356	(31,366)	(220)	4,792
Balance ending, shares at Sep. 30, 2019			1,928,776
Balance beginning at Mar. 31, 2019			$ 18	36,128	(30,656)	(313)	5,177
Balance beginning, shares at Mar. 31, 2019			1,858,020
Net change in unrealized loss (gain) on securities available for sale, net of income taxes						53	53
Amortization of unrealized loss on debt securities transferred to held-to-maturity, net of income taxes						15	15
Common stock issued and reclassified from other liabilities				28			28
Common stock issued and reclassified from other liabilities, shares			11,250
Common stock issued as compensation to directors			$ 1	200			201
Common stock issued as compensation to directors, shares			58,309
Net loss					(430)		(430)
Balance ending at Jun. 30, 2019			$ 19	36,356	(31,086)	(245)	5,044
Balance ending, shares at Jun. 30, 2019			1,927,579
Net change in unrealized loss (gain) on securities available for sale, net of income taxes						4	4
Amortization of unrealized loss on debt securities transferred to held-to-maturity, net of income taxes						21	21
Common stock issued and reclassified from other liabilities				3			3
Common stock issued and reclassified from other liabilities, shares			1,197
Net loss					(280)		(280)
Balance ending at Sep. 30, 2019			$ 19	36,356	(31,366)	(220)	4,792
Balance ending, shares at Sep. 30, 2019			1,928,776
Balance beginning at Dec. 31, 2019			$ 28	38,994	(31,610)	(205)	7,207
Balance beginning, shares at Dec. 31, 2019			2,853,171
Net change in unrealized loss (gain) on securities available for sale, net of income taxes						35	35
Amortization of unrealized loss on debt securities transferred to held-to-maturity, net of income taxes						18	18
Proceeds from sale of common stock			$ 1	538			539
Proceeds from sale of common stock, shares			98,182
Net loss					(308)		(308)
Balance ending at Mar. 31, 2020			$ 29	39,532	(31,918)	(152)	7,491
Balance ending, shares at Mar. 31, 2020			2,951,353
Balance beginning at Dec. 31, 2019			$ 28	38,994	(31,610)	(205)	7,207
Balance beginning, shares at Dec. 31, 2019			2,853,171
Net loss							(1,151)
Balance ending at Sep. 30, 2020			$ 29	46,532	(32,761)	(116)	13,684
Balance ending, shares at Sep. 30, 2020		280	2,951,353
Balance beginning at Mar. 31, 2020			$ 29	39,532	(31,918)	(152)	7,491
Balance beginning, shares at Mar. 31, 2020			2,951,353
Net change in unrealized loss (gain) on securities available for sale, net of income taxes						15	15
Amortization of unrealized loss on debt securities transferred to held-to-maturity, net of income taxes						18	18
Proceeds from the sale of preferred stock				2,500			2,500
Proceeds from the sale of preferred stock , shares		100
Net loss					(347)		(347)
Balance ending at Jun. 30, 2020			$ 29	42,032	(32,265)	(119)	9,677
Balance ending, shares at Jun. 30, 2020		100	2,951,353
Net change in unrealized loss (gain) on securities available for sale, net of income taxes						(23)	(23)
Amortization of unrealized loss on debt securities transferred to held-to-maturity, net of income taxes						26	26
Proceeds from the sale of preferred stock				4,500			4,500
Proceeds from the sale of preferred stock , shares		180
Net loss					(496)		(496)
Balance ending at Sep. 30, 2020			$ 29	$ 46,532	$ (32,761)	$ (116)	$ 13,684
Balance ending, shares at Sep. 30, 2020		280	2,951,353

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (1,151)	$ (856)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for loan losses	1,236	45
Depreciation and amortization	132	132
Stock-based compensation	200	201
Net amortization of fees, premiums and discounts	(27)	153
Increase in accrued interest receivable	(1,112)	(40)
Amortization of right-of-use operating lease assets	113	52
Net decrease in operating lease liabilities	(103)	(49)
Increase in other assets	(270)	(614)
Decrease in official checks and other liabilities	(1,063)	(117)
Net cash used in operating activities	(2,045)	(1,093)
Cash flows from investing activities:
Purchase of debt securities available for sale	(3,638)	(4,153)
Principal repayments of debt securities available for sale	1,585	676
Principal repayments of debt securities held-to-maturity	1,276	977
Net increase in loans	(44,109)	(14,990)
Purchases of premises and equipment	(165)	(217)
(Purchase) redemption of FHLB stock	(450)	490
Net cash used in investing activities	(45,501)	(17,217)
Cash flows from financing activities:
Net increase in deposits	66,344	30,887
Net decrease in federal funds purchased		(560)
Net increase (decrease) in Federal Home Loan Bank advances	10,000	(11,600)
Proceeds from sale of common stock	539
Proceeds from sale of preferred stock	7,000
Net cash provided by financing activities	83,883	18,727
Net increase in cash and cash equivalents	36,337	417
Cash and cash equivalents at beginning of the period	8,934	7,983
Cash and cash equivalents at end of the period	45,271	8,400
Supplemental disclosure of cash flow information:
Interest	2,354	1,249
Income taxes
Noncash transaction -
Change in accumulated other comprehensive loss, net change in unrealized gain on debt securities available for sale, net of income taxes	89	110
Amortization of unrealized loss on debt securities transferred to held-to-maturity	83	67
Common stock issued and reclassified from other liabilities		31
Right-of use lease assets obtained in exchange for operating lease liabilities		1,144
Transfer of loan to foreclosed real estate	$ 681

General

General	9 Months Ended
General	Sep. 30, 2020
Accounting Policies [Abstract]
General	(1) General. Basis of Presentation Subsequent Events. Junior Subordinated Debenture. The Trust utilized the proceeds of $5,155,000 to purchase a junior subordinated debenture from the Company (the “Junior Subordinated Debenture”). Under the Junior Subordinated Debenture, the Company is required to make interest payments on a periodic basis and to pay the outstanding principal amount plus accrued interest on October 7, 2034. In May 2018, Preferred Shares, LLC (the “Purchaser”) acquired all 5,000 of the Trust Preferred Securities from a third party. The Purchaser is an affiliate of a director of the Company. The Purchaser has subsequently sold and/or transferred 2,575 of the Trust Preferred Securities to unaffiliated third parties. During 2019 and 2018, the Company issued 1,226,173 shares of the Company’s common stock in exchange for 2,575 Trust Preferred Securities. For accounting purposes, the Trust Preferred Securities acquired by the Company were deemed to be cancelled. As a result, the Company cancelled $2,575,000 in principal amount of the Trust Preferred Securities, together with accrued interest of $974,000, and increased its stockholders’ equity by the same amount. The remaining principal owed by the Company in connection with the Junior Subordinated Debenture was $2,580,000 at September 30, 2020 and December 31, 2019, respectively. The Company has been in default under the Junior Subordinated Debenture due to the failure to pay interest since 2015. In September 2020, the Company paid approximately $1.1 million to the holders of the outstanding Trust Preferred Securities, which represented all accrued interest owed under the Junior Subordinated Debenture attributable to the Trust Preferred Securities that had not been cancelled. The accrued interest owed by the Company associated with the Junior Subordinated Debenture was $0 and $995,000 at September 30, 2020 and December 31, 2019 respectively. The accrued interest at December 31, 2019 is presented on the accompanying condensed consolidated balance sheet under the caption “Other liabilities”. Comprehensive Loss. Accumulated other comprehensive loss consists of the following (in thousands): September 30, December 31, 2020 2019 Unrealized gain on debt securities available for sale $ 47 $ 11 Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (201 ) (284 ) Income tax benefit 38 68 $ (116 ) $ (205 ) Income Taxes. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13 Financial Instruments-Credit Losses (Topic 326) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13").

Debt Securities

Debt Securities	9 Months Ended
Debt Securities	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Debt Securities	(2) Debt Securities Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At September 30, 2020: Held-to-maturity: Collateralized mortgage obligations $ 3,208 $ 168 $ — $ 3,376 Mortgage-backed securities 1,363 55 — 1,418 Total $ 4,571 $ 223 $ - $ 4,794 Available for sale: SBA Pool Securities $ 1,364 $ — $ (43 ) $ 1,321 Collateralized mortgage obligations 582 35 — 617 Mortgage-backed securities 5,467 55 — 5,522 Total $ 7,413 $ 90 $ (43 ) $ 7,460 At December 31, 2019: Held-to-maturity: Collateralized mortgage obligations $ 4,218 $ 129 — $ 4,347 Mortgage-backed securities 1,588 51 — 1,639 Total $ 5,806 $ 180 — $ 5,986 Available for sale: SBA Pool Securities $ 1,734 $ — $ (52 ) $ 1,682 Collateralized mortgage obligations 998 18 — 1,016 Mortgage-backed securities 2,666 45 — 2,711 Total $ 5,398 $ 63 $ (52 ) $ 5,409 There were no sales of debt securities during the three and nine months ended September 30, 2020 and 2019. Debt Securities available for sale with gross unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position, is as follows (in thousands): Over Twelve Less Than Twelve Months Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value At September 30, 2020- Available for Sale - SBA Pool securities $ 43 $ 1,321 $ — $ — At December 31, 2019- Available for Sale - SBA Pool Securities $ 52 $ 1,682 $ — $ — Management evaluates debt securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospectus of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At September 30, 2020 and December 31, 2019, the unrealized losses on six debt securities, were caused by market conditions. It is expected that the debt securities would not be settled at a price less than the book value of the investments. Because the decline in fair value is attributable to market conditions and not credit quality, and because the Company has the ability and intent to hold these investments until a market price recovery or maturity, these investments are not considered other-than-temporarily impaired.

Loans

Loans	9 Months Ended
Loans	Sep. 30, 2020
Receivables [Abstract]
Loans	(3) Loans. At At September 30, December 31, Residential real estate $ 32,094 $ 28,266 Multi-family real estate 16,052 8,396 Commercial real estate 67,060 55,652 Land and construction 4,332 2,496 Commercial 22,611 4,476 Consumer 5,080 4,903 Total loans 147,229 104,189 Net deferred (loan fees), costs and premiums (552 ) 53 Allowance for loan losses (2,145 ) (2,009 ) Loans, net $ 144,532 $ 102,233 An analysis of the change in the allowance for loan losses follows (in thousands): Residential Multi- Commercial Land and Estate Estate Real Estate Construction Commercial Consumer Unallocated Total Three Months Ended September 30, 2020: Beginning balance $ 717 $ 153 $ 888 $ 50 $ 620 $ 236 $ — $ 2,664 Provision (credit) for loan losses 85 75 84 (5 ) 292 (7 ) — 524 Charge-offs (259 ) — — — (775 ) (17 ) — (1,051 ) Recoveries 1 — — 6 — 1 — 8 Ending balance $ 544 $ 228 $ 972 $ 51 $ 137 $ 213 $ — $ 2,145 Three Months Ended September 30, 2019: Beginning balance $ 537 $ 41 $ 658 $ 7 $ 558 $ 11 $ 241 $ 2,053 Provision (credit) for loan losses (5 ) — 87 7 32 165 (241 ) 45 Charge-offs — — — — — — — — Recoveries — — — 6 — — — 6 Ending balance $ 532 $ 41 $ 745 $ 20 $ 590 $ 176 $ — $ 2,104 Nine Months Ended September 30, 2020: Beginning balance $ 531 $ 82 $ 624 $ 21 $ 573 $ 152 $ 26 $ 2,009 Provision (credit) for loan losses 264 146 348 12 339 153 (26 ) 1,236 Charge-offs (259 ) — — — (775 ) (94 ) — (1,128 ) Recoveries 8 — — 18 — 2 — 28 Ending balance $ 544 $ 228 $ 972 $ 51 $ 137 $ 213 $ - $ 2,145 Nine Months Ended September 30, 2019: Beginning balance $ 544 $ 88 $ 545 $ 37 $ 850 $ 25 $ 154 $ 2,243 (Credit) provision for loan losses (12 ) (47 ) 395 (35 ) (260 ) 158 (154 ) 45 Charge-offs — — (195 ) — — (7 ) — (202 ) Recoveries — — — 18 — — — 18 Ending balance $ 532 $ 41 $ 745 $ 20 $ 590 $ 176 $ — $ 2,104 Residential Multi- Family Commercial Real Estate Land and Construction Commercial Consumer Unallocated Total At September 30, 2020: Individually evaluated for impairment: Recorded investment $ — $ — $ 2,193 $ — $ — $ — $ — $ 2,193 Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 32,094 $ 16,052 $ 64,867 $ 4,332 $ 22,611 $ 5,080 $ — $ 145,036 Balance in allowance for loan losses $ 544 $ 228 $ 972 $ 51 $ 137 $ 213 $ — $ 2,145 At December 31, 2019: Individually evaluated for impairment: Recorded investment $ 944 $ — $ 2,206 $ — $ 812 $ — $ — $ 3,962 Balance in allowance for loan losses $ 258 $ — $ — $ — $ 531 $ — $ — $ 789 Collectively evaluated for impairment: Recorded investment $ 27,322 $ 8,396 $ 53,446 $ 2,496 $ 3,664 $ 4,903 $ — $ 100,227 Balance in allowance for loan losses $ 273 $ 82 $ 624 $ 21 $ 42 $ 152 $ 26 $ 1,220 The Company has divided the loan portfolio into six portfolio segments, each with different risk characteristics and methodologies for assessing risk. All loans are underwritten based upon standards set forth in the policies approved by the Company’s Board of Directors (the “Board”). The Company identifies the portfolio segments as follows: Residential Real Estate, Multi-Family Real Estate, Commercial Real Estate, Land and Construction. Commercial. Consumer. The following summarizes the loan credit quality (in thousands): Pass OLEM Sub- Doubtful Loss Total At September 30, 2020: Residential real estate $ 32,094 $ — $ — $ — $ — $ 32,094 Multi-family real estate 16,052 — — — — 16,052 Commercial real estate 63,055 1,812 2,193 — — 67,060 Land and construction 2,716 1,616 — — — 4,332 Commercial 22,073 538 — — — 22,611 Consumer 5,053 — 27 — — 5,080 Total $ 141,043 $ 3,966 $ 2,220 $ — $ — $ 147,229 — — At December 31, 2019: — — Residential real estate $ 27,322 $ — $ 944 $ — $ — $ 28,266 Multi-family real estate 8,396 — — — — 8,396 Commercial real estate 53,011 435 2,206 — — 55,652 Land and construction 1,261 1,235 — — — 2,496 Commercial 3,027 637 812 — — 4,476 Consumer 4,903 — — — — 4,903 Total $ 97,920 $ 2,307 $ 3,962 $ — $ — $ 104,189 Internally assigned loan grades are defined as follows: Pass – a Pass loan’s primary source of loan repayment is satisfactory, with secondary sources very likely to be realized if necessary. These are loans that conform in all aspects to bank policy and regulatory requirements, and no repayment risk has been identified. OLEM – an Other Loan Especially Mentioned has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or the Company’s credit position at some future date. Substandard – a Substandard loan is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Included in this category are loans that are current on their payments, but the Bank is unable to document the source of repayment. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful – a loan classified as Doubtful has all the weaknesses inherent in one classified as Substandard, with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. The Company charges off any loan classified as Doubtful. Loss – a loan classified Loss is considered uncollectible and of such little value that continuance as a bankable asset is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future. The Company fully charges off any loan classified as Loss. Age analysis of past-due loans is as follows (in thousands): Accruing Loans 30-59 60-89 Greater Total Current Nonaccrual Total At September 30, 2020: Residential real estate $ — $ — $ — $ — $ 32,094 $ — $ 32,094 Multi-family real estate — — — — 16,052 — 16,052 Commercial real estate — — — — 67,060 — 67,060 Land and construction — — — — 4,332 — 4,332 Commercial — — — — 22,611 — 22,611 Consumer 14 13 — 27 5,053 — 5,080 Total $ 14 $ 13 $ — $ 27 $ 147,202 $ — $ 147,229 Accruing Loans Greater 30-59 60-89 Than 90 Days Days Days Total Nonaccrual Total Past Due Past Due Past Due Past Due Current Loans Loans At December 31, 2019: Residential real estate $ 944 $ — $ — $ 944 $ 27,322 $ — $ 28,266 Multi-family real estate — — — — 8,396 — 8,396 Commercial real estate — — — — 55,652 — 55,652 Land and construction 1,235 — — 1,235 1,261 — 2,496 Commercial — — — — 3,664 812 4,476 Consumer — — — — 4,903 — 4,903 Total $ 2,179 $ — $ — $ 2,179 $ 101,198 $ 812 $ 104,189 The following summarizes the amount of impaired loans (in thousands): At September 30, 2020 At December 31, 2019 Recorded Unpaid Related Recorded Unpaid Related Allowance With no related allowance recorded- Commercial real estate $ 2,193 $ 2,193 $ — $ 2,206 $ 2,206 — With related allowance recorded: Residential real estate — — — 944 944 258 Commercial — — — 812 812 531 Total: Residential real estate $ — $ — $ — $ 944 944 258 Commercial real estate $ 2,193 $ 2,193 $ — $ 2,206 2,206 — Commercial $ — $ — $ — $ 812 $ 812 $ 531 Total $ 2,193 $ 2,193 $ — $ 3,962 $ 3,962 $ 789 The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands): Three Months Ended September 30, 2020 2019 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Received Investment Recognized Received Residential real estate $ 626 $ — $ — $ 950 $ 19 $ 19 Commercial real estate $ 2,193 $ 26 $ — $ 2,280 $ 27 $ 27 Commercial $ 270 $ — $ — $ 812 $ — $ — Total $ 3,089 $ 26 $ — $ 4,042 $ 46 $ 46 Nine Months Ended September 30, 2020 2019 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Received Investment Recognized Received Residential real estate $ 846 $ 18 $ 11 $ 950 $ 56 $ 56 Commercial real estate $ 2,194 $ 78 $ 60 $ 2,808 $ 88 $ 86 Commercial $ 649 $ — $ 18 $ 1,327 43 $ 39 Total $ 3,689 $ 96 $ 89 $ 5,085 $ 187 $ 181 No loans have been determined to be troubled debt restructurings (TDR’s) during the three and nine month periods ended September 30, 2020 or 2019. At September 30, 2020 and 2019, there were no loans modified and entered into TDR’s within the past twelve months, that subsequently defaulted during the three and nine month periods ended September 30, 2020 or 2019.

Loss Per Share

Loss Per Share	9 Months Ended
Loss Per Share	Sep. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	(4) Loss Per Share. Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Weighted-average number of common shares outstanding used to calculate basic and diluted loss per common share 2,951,353 1,928,269 2,920,961 1,889,592

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	(5) Stock-Based Compensation The Company is authorized to grant stock options, stock grants and other forms of equity-based compensation under its 2018 Equity Incentive Plan (the “2018 Plan”). The plan has been approved by the shareholders. The Company is currently authorized to issue up to 550,000 shares of common stock under the 2018 Plan, due to an amendment to increase the number of authorized shares from 250,000 to 550,000 that was approved by shareholders in August 2020. At September 30, 2020, 318,184 shares remain available for grant. During the second quarter of 2019, the Company recorded compensation expense of $201,000 with respect to 58,309 shares issued to a director for services performed. During the third quarter of 2020, the Company agreed to issue 74,626 shares to this director for services performed and recorded compensation expense of $200,000. The director has not yet taken delivery of the shares. As such, at September 30, 2020, the $200,000 is presented on the accompanying condensed consolidated balance sheet under the caption “other liabilities”.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	(6) Fair Value Measurements. Fair Value Level 1 Level 2 Level 3 Total Losses Losses Recorded Operations December 31, 2019 At December 31, 2019— Residential real estate $ 686 $ — $ — $ 686 $ 258 $ — Foreclosed real estate is recorded at fair value less selling costs. Foreclosed real estate which is measured at fair value on a nonrecurring basis is as follows (in thousands): Fair Level 1 Level 2 Level 3 Total Losses Recorded Operations September 30, 2020 At September 30, 2020— Foreclosed real estate $ 681 $ — $ — $ 681 $ — $ — Debt securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): Fair Value Measurements Using Quoted Prices Significant Significant Fair Value (Level 1) (Level 2) (Level 3) At September 30, 2020: SBA Pool Securities $ 1,321 $ — $ 1,321 $ — Collateralized mortgage obligations 617 — 617 — Mortgage-backed securities 5,522 — 5,522 — $ 7,460 — 7,460 — At December 31, 2019: SBA Pool Securities $ 1,682 $ — $ 1,682 $ — Collateralized mortgage obligations 1,016 — 1,016 — Mortgage-backed securities 2,711 — 2,711 — Total $ 5,409 — $ 5,409 $ — During the three and nine month periods ended September 30, 2020 and 2019, no debt securities were transferred in or out of Levels 1, 2 or 3.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2020
Investments, All Other Investments [Abstract]
Fair Value of Financial Instruments	(7) Fair Value of Financial Instruments. At September 30, 2020 At December 31, 2019 Carrying Fair Value Level Carrying Fair Value Level Financial assets: Cash and cash equivalents $ 45,271 $ 45,271 1 $ 8,934 $ 8,934 1 Debt securities available for sale 7,460 7,460 2 5,409 5,409 2 Debt securities held-to-maturity 4,571 4,794 2 5,806 5,986 2 Loans 144,532 144,641 3 102,233 102,060 3 Federal Home Loan Bank stock 1,092 1,092 3 642 642 3 Accrued interest receivable 1,544 1,544 3 432 432 3 Financial liabilities: Deposit liabilities 167,716 168,003 3 101,372 101,256 3 Federal Home Loan Bank advances 23,000 23,311 3 13,000 13,137 3 Junior subordinated debenture 2,580 N/A (1) N/A 2,580 N/A (1) N/A Off-balance sheet financial instruments — — 3 — — 3 (1) The Company is unable to determine value based on significant unobservable inputs required in the calculation. Refer to Note 1 for further information.

Off- Balance Sheet Financial In

Off- Balance Sheet Financial Instruments	9 Months Ended
Off- Balance Sheet Financial Instruments	Sep. 30, 2020
Off- Balance Sheet Financial Instruments
Off- Balance Sheet Financial Instruments	(8) Off- Balance Sheet Financial Instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance-sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company, upon extension of credit, is based on management’s credit evaluation of the counterparty. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit to customers is essentially the same as that involved in extending loan facilities to customers. The Bank generally holds collateral supporting those commitments. Standby letters of credit generally have expiration dates within one year. Commitments to extend credit, unused lines of credit, and standby letters of credit typically result in loans with a market interest rate when funded. A summary of the contractual amounts of the Company’s financial instruments with off-balance-sheet risk at September 30, 2020 follows (in thousands): Commitments to extend credit $ 4,091 Unused lines of credit $ 5,332 Standby letters of credit $ 4,550

Regulatory Matters

Regulatory Matters	9 Months Ended
Regulatory Matters	Sep. 30, 2020
Line of Credit Facility [Abstract]
Regulatory Matters	(9) Regulatory Matters. The Bank, is subject to the Basel III capital level threshold requirements under the Prompt Corrective Action regulations with full compliance phased in over a multi-year schedule. These new regulations were designed to ensure that banks maintain strong capital positions even in the event of severe economic downturns or unforeseen losses. Regulatory banking agencies issued final rules on October 29, 2019 that provide simplified capital measures, including a simplified measure of capital adequacy for qualifying community banking organizations consistent with section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Qualifying community banking organizations with less than $10 billion of assets that comply with, and elect to use, the community bank leverage ratio (“CBLR”) and that maintain a CBLR greater than 8% in 2020 would be considered to be “well-capitalized” and would no longer be subject to the other generally applicable capital rules. The CBLR would be used and applied for purposes of compliance with the Federal Banking Agencies ‘prompt corrective action rules, and Federal Reserve Regulation O and W compliance, as well as in calculating FDIC deposit insurance assessments. The CBLR, among other proposals, reflects the regulatory banking agencies’ focus on appropriately tailoring capital requirements to an institution’s size, complexity and risk profile. The CBLR was first available for banking organizations to use in their March 31, 2020 Call Report. Non-advanced approaches banking organizations will also be able to take advantage of simpler regulatory capital requirements for mortgage servicing assets, certain deferred tax assets arising from temporary differences and investments in unconsolidated financial institutions. As of September 30, 2020, the Company has determined to opt in to adopting the new CBLR. The following table shows the Bank’s capital amounts and ratios and regulatory thresholds at September 30, 2020 and December 31, 2019 (dollars in thousands): Actual For Capital Purposes Minimum To Be Amount % Amount % Amount % As of September 30, 2020— Tier I Capital to Total Assets 16,175 8.70 % $ 7,434 4.00 % $ 9,292 5.00 % As of December 31, 2019: Total Capital to Risk-Weighted Assets $ 12,212 12.03 % $ 8,124 8.00 % $ 10,154 10.00 % Tier I Capital to Risk-Weighted Assets 10,934 10.77 6,093 6.00 % 8,124 8.00 % Common equity Tier I capital to Risk-Weighted Assets 10,934 10.77 4,569 4.50 % 6,600 6.50 % Tier I Capital to Total Assets 10,934 8.73 5,010 4.00 % 6,263 5.00 %

Preferred Stock

Preferred Stock	9 Months Ended
Preferred Stock	Sep. 30, 2020
Equity [Abstract]
Preferred Stock	(10) Preferred Stock During 2020, the Company issued 280 shares of Series B Participating Preferred Stock (the “Series B Preferred Stock”) to a related party at a cash price of share, with an had 9.9% shares securities. The liquidation price is the greater of $25,000 per share of preferred stock or such amount per share of preferred stock that would have been payable had all shares of the preferred stock been converted into common stock per the terms of the Certificate of Designation immediately prior to a liquidation. The Preferred Stock generally has no votin g rights except as provided in the Certificate of Designation.

Contingency

Contingency	9 Months Ended
Contingency	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingency	(11) Contingency The Coronavirus global pandemic (“COVID-19”) has negatively impacted the global economy, disrupted global supply chains, lowered equity market valuations, created significant volatility and disruption in financial markets and significantly increased unemployment levels. The extent to which the COVID-19 pandemic impacts our business, results of operations, and financial condition, as well as our regulatory capital and liquidity ratios, will depend on future developments, the duration of the pandemic, and actions taken by governmental authorities to slow the spread of the disease or to mitigate its effects. The Company took action to prepare its employees, support its clients, and help its communities. The Company has supported small business owners by making loans through the Small Business Administration Paycheck Protection Program (“PPP”). As of September 30, 2020, the Bank had originated 204 PPP loans for a total dollar amount of $19.2 million. These loans are 100% guaranteed by the Small Business Administration (the “SBA”). The Company has the option to fund PPP loans through the Federal Reserve Bank’s Paycheck Protection Program Liquidity Facility (the “PPPLF”). Loans pledged to secure PPPLF advances will be excluded from the calculations of the Bank’s regulatory capital ratios. At September 30, 2020, there were no outstanding borrowings under the PPPLF.

General (Policies)

General (Policies)	9 Months Ended
General (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
General	General.
Basis of Presentation	Basis of Presentation
Subsequent Events	Subsequent Events. The Company has evaluated subsequent events through November XX, 2020, which is the date the condensed consolidated financial statements were issued, determining no additional events required disclosure.
Junior Subordinated Debenture	Junior Subordinated Debenture. The Trust utilized the proceeds of $5,155,000 to purchase a junior subordinated debenture from the Company (the “Junior Subordinated Debenture”). Under the Junior Subordinated Debenture, the Company is required to make interest payments on a periodic basis and to pay the outstanding principal amount plus accrued interest on October 7, 2034. In May 2018, Preferred Shares, LLC (the “Purchaser”) acquired all 5,000 of the Trust Preferred Securities from a third party. The Purchaser is an affiliate of a director of the Company. The Purchaser has subsequently sold and/or transferred 2,575 of the Trust Preferred Securities to unaffiliated third parties. During 2019 and 2018, the Company issued 1,226,173 shares of the Company’s common stock in exchange for 2,575 Trust Preferred Securities. For accounting purposes, the Trust Preferred Securities acquired by the Company were deemed to be cancelled. As a result, the Company cancelled $2,575,000 in principal amount of the Trust Preferred Securities, together with accrued interest of $974,000, and increased its stockholders’ equity by the same amount. The remaining principal owed by the Company in connection with the Junior Subordinated Debenture was $2,580,000 at September 30, 2020 and December 31, 2019, respectively. The Company has been in default under the Junior Subordinated Debenture due to the failure to pay interest since 2015. In September 2020, the Company paid approximately $1.1 million to the holders of the outstanding Trust Preferred Securities, which represented all accrued interest owed under the Junior Subordinated Debenture attributable to the Trust Preferred Securities that had not been cancelled. The accrued interest owed by the Company associated with the Junior Subordinated Debenture was $0 and $995,000 at September 30, 2020 and December 31, 2019 respectively. The accrued interest at December 31, 2019 is presented on the accompanying condensed consolidated balance sheet under the caption “Other liabilities”.
Comprehensive Loss	Comprehensive Loss. Accumulated other comprehensive loss consists of the following (in thousands): September 30, December 31, 2020 2019 Unrealized gain on debt securities available for sale $ 47 $ 11 Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (201 ) (284 ) Income tax benefit 38 68 $ (116 ) $ (205 )
Income Taxes	Income Taxes. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13 Financial Instruments-Credit Losses (Topic 326) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13").

General (Tables)

General (Tables)	9 Months Ended
General (Tables)	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consists of the following (in thousands): September 30, December 31, 2020 2019 Unrealized gain on debt securities available for sale $ 47 $ 11 Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (201 ) (284 ) Income tax benefit 38 68 $ (116 ) $ (205 )

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
Debt Securities (Tables)	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Approximate Fair Values of Debt Securities	The carrying amount of debt securities and approximate fair values are as follows (in thousands): Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At September 30, 2020: Held-to-maturity: Collateralized mortgage obligations $ 3,208 $ 168 $ — $ 3,376 Mortgage-backed securities 1,363 55 — 1,418 Total $ 4,571 $ 223 $ - $ 4,794 Available for sale: SBA Pool Securities $ 1,364 $ — $ (43 ) $ 1,321 Collateralized mortgage obligations 582 35 — 617 Mortgage-backed securities 5,467 55 — 5,522 Total $ 7,413 $ 90 $ (43 ) $ 7,460 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At December 31, 2019: Held-to-maturity: Collateralized mortgage obligations $ 4,218 $ 129 — $ 4,347 Mortgage-backed securities 1,588 51 — 1,639 Total $ 5,806 $ 180 — $ 5,986 Available for sale: SBA Pool Securities $ 1,734 $ — $ (52 ) $ 1,682 Collateralized mortgage obligations 998 18 — 1,016 Mortgage-backed securities 2,666 45 — 2,711 Total $ 5,398 $ 63 $ (52 ) $ 5,409
Schedule of Debt Securities with Gross Unrealized Losses, by Investment Category	Debt Securities available for sale with gross unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position, is as follows (in thousands): Over Twelve Less Than Twelve Months Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value At September 30, 2020- Available for Sale - SBA Pool securities $ 43 $ 1,321 $ — $ — At December 31, 2019- Available for Sale - SBA Pool Securities $ 52 $ 1,682 $ — $ —

Loans (Tables)

Loans (Tables)	9 Months Ended
Loans (Tables)	Sep. 30, 2020
Receivables [Abstract]
Schedule of Components of Loans	At At September 30, December 31, Residential real estate $ 32,094 $ 28,266 Multi-family real estate 16,052 8,396 Commercial real estate 67,060 55,652 Land and construction 4,332 2,496 Commercial 22,611 4,476 Consumer 5,080 4,903 Total loans 147,229 104,189 Net deferred (loan fees), costs and premiums (552 ) 53 Allowance for loan losses (2,145 ) (2,009 ) Loans, net $ 144,532 $ 102,233
Schedule of Change in Allowance for Loan Losses	An analysis of the change in the allowance for loan losses follows (in thousands): Residential Multi- Commercial Land and Estate Estate Real Estate Construction Commercial Consumer Unallocated Total Three Months Ended September 30, 2020: Beginning balance $ 717 $ 153 $ 888 $ 50 $ 620 $ 236 $ — $ 2,664 Provision (credit) for loan losses 85 75 84 (5 ) 292 (7 ) — 524 Charge-offs (259 ) — — — (775 ) (17 ) — (1,051 ) Recoveries 1 — — 6 — 1 — 8 Ending balance $ 544 $ 228 $ 972 $ 51 $ 137 $ 213 $ — $ 2,145 Three Months Ended September 30, 2019: Beginning balance $ 537 $ 41 $ 658 $ 7 $ 558 $ 11 $ 241 $ 2,053 Provision (credit) for loan losses (5 ) — 87 7 32 165 (241 ) 45 Charge-offs — — — — — — — — Recoveries — — — 6 — — — 6 Ending balance $ 532 $ 41 $ 745 $ 20 $ 590 $ 176 $ — $ 2,104 Nine Months Ended September 30, 2020: Beginning balance $ 531 $ 82 $ 624 $ 21 $ 573 $ 152 $ 26 $ 2,009 Provision (credit) for loan losses 264 146 348 12 339 153 (26 ) 1,236 Charge-offs (259 ) — — — (775 ) (94 ) — (1,128 ) Recoveries 8 — — 18 — 2 — 28 Ending balance $ 544 $ 228 $ 972 $ 51 $ 137 $ 213 $ - $ 2,145 Nine Months Ended September 30, 2019: Beginning balance $ 544 $ 88 $ 545 $ 37 $ 850 $ 25 $ 154 $ 2,243 (Credit) provision for loan losses (12 ) (47 ) 395 (35 ) (260 ) 158 (154 ) 45 Charge-offs — — (195 ) — — (7 ) — (202 ) Recoveries — — — 18 — — — 18 Ending balance $ 532 $ 41 $ 745 $ 20 $ 590 $ 176 $ — $ 2,104 Residential Multi- Family Commercial Real Estate Land and Construction Commercial Consumer Unallocated Total At September 30, 2020: Individually evaluated for impairment: Recorded investment $ — $ — $ 2,193 $ — $ — $ — $ — $ 2,193 Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 32,094 $ 16,052 $ 64,867 $ 4,332 $ 22,611 $ 5,080 $ — $ 145,036 Balance in allowance for loan losses $ 544 $ 228 $ 972 $ 51 $ 137 $ 213 $ — $ 2,145 At December 31, 2019: Individually evaluated for impairment: Recorded investment $ 944 $ — $ 2,206 $ — $ 812 $ — $ — $ 3,962 Balance in allowance for loan losses $ 258 $ — $ — $ — $ 531 $ — $ — $ 789 Collectively evaluated for impairment: Recorded investment $ 27,322 $ 8,396 $ 53,446 $ 2,496 $ 3,664 $ 4,903 $ — $ 100,227 Balance in allowance for loan losses $ 273 $ 82 $ 624 $ 21 $ 42 $ 152 $ 26 $ 1,220
Schedule of Loans by Credit Quality	The following summarizes the loan credit quality (in thousands): Pass OLEM Sub- Doubtful Loss Total At September 30, 2020: Residential real estate $ 32,094 $ — $ — $ — $ — $ 32,094 Multi-family real estate 16,052 — — — — 16,052 Commercial real estate 63,055 1,812 2,193 — — 67,060 Land and construction 2,716 1,616 — — — 4,332 Commercial 22,073 538 — — — 22,611 Consumer 5,053 — 27 — — 5,080 Total $ 141,043 $ 3,966 $ 2,220 $ — $ — $ 147,229 — — At December 31, 2019: — — Residential real estate $ 27,322 $ — $ 944 $ — $ — $ 28,266 Multi-family real estate 8,396 — — — — 8,396 Commercial real estate 53,011 435 2,206 — — 55,652 Land and construction 1,261 1,235 — — — 2,496 Commercial 3,027 637 812 — — 4,476 Consumer 4,903 — — — — 4,903 Total $ 97,920 $ 2,307 $ 3,962 $ — $ — $ 104,189
Schedule of Age Analysis of Past-due Loans	Age analysis of past-due loans is as follows (in thousands): Accruing Loans 30-59 60-89 Greater Total Current Nonaccrual Total At September 30, 2020: Residential real estate $ — $ — $ — $ — $ 32,094 $ — $ 32,094 Multi-family real estate — — — — 16,052 — 16,052 Commercial real estate — — — — 67,060 — 67,060 Land and construction — — — — 4,332 — 4,332 Commercial — — — — 22,611 — 22,611 Consumer 14 13 — 27 5,053 — 5,080 Total $ 14 $ 13 $ — $ 27 $ 147,202 $ — $ 147,229 Accruing Loans Greater 30-59 60-89 Than 90 Days Days Days Total Nonaccrual Total Past Due Past Due Past Due Past Due Current Loans Loans At December 31, 2019: Residential real estate $ 944 $ — $ — $ 944 $ 27,322 $ — $ 28,266 Multi-family real estate — — — — 8,396 — 8,396 Commercial real estate — — — — 55,652 — 55,652 Land and construction 1,235 — — 1,235 1,261 — 2,496 Commercial — — — — 3,664 812 4,476 Consumer — — — — 4,903 — 4,903 Total $ 2,179 $ — $ — $ 2,179 $ 101,198 $ 812 $ 104,189
Schedule of Impaired Loans	The following summarizes the amount of impaired loans (in thousands): At September 30, 2020 At December 31, 2019 Recorded Unpaid Related Recorded Unpaid Related Allowance With no related allowance recorded- Commercial real estate $ 2,193 $ 2,193 $ — $ 2,206 $ 2,206 — With related allowance recorded: Residential real estate — — — 944 944 258 Commercial — — — 812 812 531 Total: Residential real estate $ — $ — $ — $ 944 944 258 Commercial real estate $ 2,193 $ 2,193 $ — $ 2,206 2,206 — Commercial $ — $ — $ — $ 812 $ 812 $ 531 Total $ 2,193 $ 2,193 $ — $ 3,962 $ 3,962 $ 789
Schedule of Interest Income Recognized and Received on Impaired Loans	The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands): Three Months Ended September 30, 2020 2019 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Received Investment Recognized Received Residential real estate $ 626 $ — $ — $ 950 $ 19 $ 19 Commercial real estate $ 2,193 $ 26 $ — $ 2,280 $ 27 $ 27 Commercial $ 270 $ — $ — $ 812 $ — $ — Total $ 3,089 $ 26 $ — $ 4,042 $ 46 $ 46 Nine Months Ended September 30, 2020 2019 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Received Investment Recognized Received Residential real estate $ 846 $ 18 $ 11 $ 950 $ 56 $ 56 Commercial real estate $ 2,194 $ 78 $ 60 $ 2,808 $ 88 $ 86 Commercial $ 649 $ — $ 18 $ 1,327 43 $ 39 Total $ 3,689 $ 96 $ 89 $ 5,085 $ 187 $ 181

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
Loss Per Share (Tables)	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Common Shares Outstanding	In 2020 and 2019, basic and diluted loss per share are the same due to the net loss incurred by the Company. Loss per common share have been computed based on the following: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Weighted-average number of common shares outstanding used to calculate basic and diluted loss per common share 2,951,353 1,928,269 2,920,961 1,889,592

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets Measured on Nonrecurring Basis	Fair Value Level 1 Level 2 Level 3 Total Losses Losses Recorded Operations December 31, 2019 At December 31, 2019— Residential real estate $ 686 $ — $ — $ 686 $ 258 $ — Foreclosed real estate is recorded at fair value less selling costs. Foreclosed real estate which is measured at fair value on a nonrecurring basis is as follows (in thousands): Fair Level 1 Level 2 Level 3 Total Losses Recorded Operations September 30, 2020 At September 30, 2020— Foreclosed real estate $ 681 $ — $ — $ 681 $ — $ —
Schedule of Debt Securities Available-for-sale Measured at Fair Value on Recurring Basis	Debt securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): Fair Value Measurements Using Quoted Prices Significant Significant Fair Value (Level 1) (Level 2) (Level 3) At September 30, 2020: SBA Pool Securities $ 1,321 $ — $ 1,321 $ — Collateralized mortgage obligations 617 — 617 — Mortgage-backed securities 5,522 — 5,522 — $ 7,460 — 7,460 — At December 31, 2019: SBA Pool Securities $ 1,682 $ — $ 1,682 $ — Collateralized mortgage obligations 1,016 — 1,016 — Mortgage-backed securities 2,711 — 2,711 — Total $ 5,409 — $ 5,409 $ —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
Fair Value of Financial Instruments (Tables)	Sep. 30, 2020
Investments, All Other Investments [Abstract]
Schedule of Estimated Fair Value of Financial Instruments	The estimated fair values and fair value measurement method with respect to the Company’s financial instruments were as follows (in thousands): At September 30, 2020 At December 31, 2019 Carrying Fair Value Level Carrying Fair Value Level Financial assets: Cash and cash equivalents $ 45,271 $ 45,271 1 $ 8,934 $ 8,934 1 Debt securities available for sale 7,460 7,460 2 5,409 5,409 2 Debt securities held-to-maturity 4,571 4,794 2 5,806 5,986 2 Loans 144,532 144,641 3 102,233 102,060 3 Federal Home Loan Bank stock 1,092 1,092 3 642 642 3 Accrued interest receivable 1,544 1,544 3 432 432 3 Financial liabilities: Deposit liabilities 167,716 168,003 3 101,372 101,256 3 Federal Home Loan Bank advances 23,000 23,311 3 13,000 13,137 3 Junior subordinated debenture 2,580 N/A (1) N/A 2,580 N/A (1) N/A Off-balance sheet financial instruments — — 3 — — 3 (1) The Company is unable to determine value based on significant unobservable inputs required in the calculation. Refer to Note 1 for further information.

Off- Balance Sheet Financial _2

Off- Balance Sheet Financial Instruments (Tables)	9 Months Ended
Off- Balance Sheet Financial Instruments (Tables)	Sep. 30, 2020
Off- Balance Sheet Financial Instruments
Schedule of Off-Balance Sheet Risks of Financial Instruments	A summary of the contractual amounts of the Company’s financial instruments with off-balance-sheet risk at September 30, 2020 follows (in thousands): Commitments to extend credit $ 4,091 Unused lines of credit $ 5,332 Standby letters of credit $ 4,550

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
Regulatory Matters (Tables)	Sep. 30, 2020
Line of Credit Facility [Abstract]
Schedule of Capital Amounts, Ratios and Regulatory Thresholds	The following table shows the Bank’s capital amounts and ratios and regulatory thresholds at September 30, 2020 and December 31, 2019 (dollars in thousands): Actual For Capital Purposes Minimum To Be Amount % Amount % Amount % As of September 30, 2020— Tier I Capital to Total Assets 16,175 8.70 % $ 7,434 4.00 % $ 9,292 5.00 % As of December 31, 2019: Total Capital to Risk-Weighted Assets $ 12,212 12.03 % $ 8,124 8.00 % $ 10,154 10.00 % Tier I Capital to Risk-Weighted Assets 10,934 10.77 6,093 6.00 % 8,124 8.00 % Common equity Tier I capital to Risk-Weighted Assets 10,934 10.77 4,569 4.50 % 6,600 6.50 % Tier I Capital to Total Assets 10,934 8.73 5,010 4.00 % 6,263 5.00 %

General (Details Narrative)

General (Details Narrative) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended	12 Months Ended
General (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2020	May 31, 2018	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2004
Ownership percentage	100.00%		100.00%
Junior subordinated debenture	$ 2,580		$ 2,580	$ 2,580
Number of stock cancelled during the period				2,575	$ 2,575
Accrued and unpaid interest payable				$ 974	$ 974
Optimum Bank Holdings Capital Trust I [Member]
Junior subordinated debenture						$ 5,155
Number of trust preferred securities issued						5,000
Number of common trust securities issued						155
Proceeds from issuance of preferred securities						$ 5,155
Debt instrument maturity date						Oct. 7, 2034
Trust Preferred Securities [Member]
Number of shares exchange				2,575	2,575
Trust Preferred Securities [Member] \| Common Stock [Member]
Number of shares exchange				1,226,173	1,226,173
Junior Subordinated Debenture [Member]
Accrued and unpaid interest payable	0		0	$ 995
Debt instrument periodic payment, principal			$ 2,580	$ 2,580
Repayments of interest	$ 1,100
Third Party [Member]
Number of trust preferred securities issued		5,000
Number of common trust securities issued		2,575

General - Schedule of Accumulat

General - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Unrealized gain on debt securities available for sale	$ 47	$ 11
Unamortized portion of unrealized loss related to securities available for sale transferred to securities held-to-maturity	(201)	(284)
Income tax benefit	38	68
Accumulated other comprehensive loss	$ (116)	$ (205)

Debt Securities (Details Narrat

Debt Securities (Details Narrative)	Sep. 30, 2020USD ($)Number	Dec. 31, 2019USD ($)Number
Investments, Debt and Equity Securities [Abstract]
Available for sale debt securities \| $
Debt securities in unrealized loss position \| Number	6	6

Debt Securities - Schedule of A

Debt Securities - Schedule of Amortized Cost and Approximate Fair Values of Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Held-to-maturity, amortized cost	$ 4,571	$ 5,806
Held-to-maturity, gross unrealized gains	223	180
Held-to-maturity, gross unrealized losses
Held-to-maturity, fair value	4,794	5,986
Available for sale, amortized cost	7,413	5,398
Available for sale, gross unrealized gains	90	63
Available for sale, gross unrealized losses	(43)	(52)
Available for sale, fair value	7,460	5,409
Collateralized Mortgage Obligations [Member]
Held-to-maturity, amortized cost	3,208	4,218
Held-to-maturity, gross unrealized gains	168	129
Held-to-maturity, gross unrealized losses
Held-to-maturity, fair value	3,376	4,347
Available for sale, amortized cost	582	998
Available for sale, gross unrealized gains	35	18
Available for sale, gross unrealized losses
Available for sale, fair value	617	1,016
Mortgage Backed Securities [Member]
Held-to-maturity, amortized cost	1,363	1,588
Held-to-maturity, gross unrealized gains	55	51
Held-to-maturity, gross unrealized losses
Held-to-maturity, fair value	1,418	1,639
Available for sale, amortized cost	5,467	2,666
Available for sale, gross unrealized gains	55	45
Available for sale, gross unrealized losses
Available for sale, fair value	5,522	2,711
SBA Pool Securities [Member]
Available for sale, amortized cost	1,364	1,734
Available for sale, gross unrealized gains
Available for sale, gross unrealized losses	(43)	(52)
Available for sale, fair value	$ 1,321	$ 1,682

Debt Securities - Schedule of D

Debt Securities - Schedule of Debt Securities with Gross Unrealized Losses, by Investment Category (Details) - SBA Pool Securities [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	$ 43	$ 52
Available for Sale, Securities Position Over 12 Months, Fair Value	1,321	1,682
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses
Available for Sale, Securities Position Less than 12 Month, Fair Value

Loans - Schedule of Components

Loans - Schedule of Components of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Total loans	$ 147,229		$ 104,189
Net deferred (loan fees), costs and premiums	(522)		53
Allowance for loan losses	(2,145)	$ (2,664)	(2,009)	$ (2,104)	$ (2,053)	$ (2,243)
Loans, net	144,532		102,233
Residential Real Estate [Member]
Total loans	32,094		28,266
Allowance for loan losses	(544)	(717)	(531)	(532)	(537)	(544)
Multi-Family Real Estate [Member]
Total loans	16,052		8,396
Allowance for loan losses	(228)	(153)	(82)	(41)	(41)	(88)
Commercial Real Estate [Member]
Total loans	67,060		55,652
Allowance for loan losses	(972)	(888)	(624)	(745)	(658)	(545)
Land and Construction [Member]
Total loans	4,332		2,496
Allowance for loan losses	(51)	(50)	(21)	(20)	(7)	(37)
Commercial [Member]
Total loans	22,611		4,476
Allowance for loan losses	(137)	(620)	(573)	(590)	(558)	(850)
Consumer [Member]
Total loans	5,080		4,903
Allowance for loan losses	$ (213)	$ (236)	$ (152)	$ (176)	$ (11)	$ (25)

Loans - Schedule of Change in A

Loans - Schedule of Change in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Beginning balance	$ 2,664	$ 2,053	$ 2,009	$ 2,243
Provision (credit) for loan losses	524	45	1,236	45
Charge-offs	(1,051)		(1,128)	(202)
Recoveries	8	6	28	18
Ending balance	2,145	2,104	2,145	2,104
Individually evaluated for impairment, Recorded investment	2,193		2,193		$ 3,962
Individually evaluated for impairment, Allowance for loan losses					789
Collectively evaluated for impairment, Recorded investment	145,036		145,036		100,227
Collectively evaluated for impairment, Allowance for loan losses	2,145		2,145		1,220
Residential Real Estate [Member]
Beginning balance	717	537	531	544
Provision (credit) for loan losses	85	(5)	264	(12)
Charge-offs	(259)		(259)
Recoveries	1		8
Ending balance	544	532	544	532
Individually evaluated for impairment, Recorded investment					944
Individually evaluated for impairment, Allowance for loan losses					258
Collectively evaluated for impairment, Recorded investment	32,094		32,094		27,322
Collectively evaluated for impairment, Allowance for loan losses	544		544		273
Multi-Family Real Estate [Member]
Beginning balance	153	41	82	88
Provision (credit) for loan losses	75		146	(47)
Charge-offs
Recoveries
Ending balance	228	41	228	41
Individually evaluated for impairment, Recorded investment
Individually evaluated for impairment, Allowance for loan losses
Collectively evaluated for impairment, Recorded investment	16,052		16,052		8,396
Collectively evaluated for impairment, Allowance for loan losses	228		228		82
Commercial Real Estate [Member]
Beginning balance	888	658	624	545
Provision (credit) for loan losses	84	87	348	395
Charge-offs				(195)
Recoveries
Ending balance	972	745	972	745
Individually evaluated for impairment, Recorded investment	2,193		2,193		2,206
Individually evaluated for impairment, Allowance for loan losses
Collectively evaluated for impairment, Recorded investment	64,867		64,867		53,446
Collectively evaluated for impairment, Allowance for loan losses	972		972		624
Land and Construction [Member]
Beginning balance	50	7	21	37
Provision (credit) for loan losses	(5)	7	12	(35)
Charge-offs
Recoveries	6	6	18	18
Ending balance	51	20	51	20
Individually evaluated for impairment, Recorded investment
Individually evaluated for impairment, Allowance for loan losses
Collectively evaluated for impairment, Recorded investment	4,332		4,332		2,496
Collectively evaluated for impairment, Allowance for loan losses	51		51		21
Commercial [Member]
Beginning balance	620	558	573	850
Provision (credit) for loan losses	292	32	339	(260)
Charge-offs	(775)		(775)
Recoveries
Ending balance	137	590	137	590
Individually evaluated for impairment, Recorded investment					812
Individually evaluated for impairment, Allowance for loan losses					531
Collectively evaluated for impairment, Recorded investment	22,611		22,611		3,664
Collectively evaluated for impairment, Allowance for loan losses	137		137		42
Consumer [Member]
Beginning balance	236	11	152	25
Provision (credit) for loan losses	(7)	165	153	158
Charge-offs	(17)		(94)	(7)
Recoveries	1		2
Ending balance	213	176	213	176
Individually evaluated for impairment, Recorded investment
Individually evaluated for impairment, Allowance for loan losses
Collectively evaluated for impairment, Recorded investment	5,080		5,080		4,903
Collectively evaluated for impairment, Allowance for loan losses	213		213		152
Unallocated [Member]
Beginning balance		241	26	154
Provision (credit) for loan losses		(241)	(26)	(154)
Charge-offs
Recoveries
Ending balance
Individually evaluated for impairment, Recorded investment
Individually evaluated for impairment, Allowance for loan losses
Collectively evaluated for impairment, Recorded investment
Collectively evaluated for impairment, Allowance for loan losses					$ 26

Loans - Schedule of Loans by Cr

Loans - Schedule of Loans by Credit Quality (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Risk rated loans	$ 147,229	$ 104,189
Pass [Member]
Risk rated loans	141,043	97,920
OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans	3,966	2,307
Sub-standard [Member]
Risk rated loans	2,220	3,962
Doubtful [Member]
Risk rated loans
Loss [Member]
Risk rated loans
Residential Real Estate [Member]
Risk rated loans	32,094	28,266
Residential Real Estate [Member] \| Pass [Member]
Risk rated loans	32,094	27,322
Residential Real Estate [Member] \| OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans
Residential Real Estate [Member] \| Sub-standard [Member]
Risk rated loans		944
Residential Real Estate [Member] \| Doubtful [Member]
Risk rated loans
Residential Real Estate [Member] \| Loss [Member]
Risk rated loans
Multi-Family Real Estate [Member]
Risk rated loans	16,052	8,396
Multi-Family Real Estate [Member] \| Pass [Member]
Risk rated loans	16,052	8,396
Multi-Family Real Estate [Member] \| OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans
Multi-Family Real Estate [Member] \| Sub-standard [Member]
Risk rated loans
Multi-Family Real Estate [Member] \| Doubtful [Member]
Risk rated loans
Multi-Family Real Estate [Member] \| Loss [Member]
Risk rated loans
Commercial Real Estate [Member]
Risk rated loans	67,060	55,652
Commercial Real Estate [Member] \| Pass [Member]
Risk rated loans	63,055	53,011
Commercial Real Estate [Member] \| OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans	1,812	435
Commercial Real Estate [Member] \| Sub-standard [Member]
Risk rated loans	2,193	2,206
Commercial Real Estate [Member] \| Doubtful [Member]
Risk rated loans
Commercial Real Estate [Member] \| Loss [Member]
Risk rated loans
Land and Construction [Member]
Risk rated loans	4,332	2,496
Land and Construction [Member] \| Pass [Member]
Risk rated loans	2,716	1,261
Land and Construction [Member] \| OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans	1,616	1,235
Land and Construction [Member] \| Sub-standard [Member]
Risk rated loans
Land and Construction [Member] \| Doubtful [Member]
Risk rated loans
Land and Construction [Member] \| Loss [Member]
Risk rated loans
Commercial [Member]
Risk rated loans	22,611	4,476
Commercial [Member] \| Pass [Member]
Risk rated loans	22,073	3,027
Commercial [Member] \| OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans	538	637
Commercial [Member] \| Sub-standard [Member]
Risk rated loans		812
Commercial [Member] \| Doubtful [Member]
Risk rated loans
Commercial [Member] \| Loss [Member]
Risk rated loans
Consumer [Member]
Risk rated loans	5,080	4,903
Consumer [Member] \| Pass [Member]
Risk rated loans	5,053	4,903
Consumer [Member] \| OLEM (Other Loans Especially Mentioned) [Member]
Risk rated loans
Consumer [Member] \| Sub-standard [Member]
Risk rated loans	27
Consumer [Member] \| Doubtful [Member]
Risk rated loans
Consumer [Member] \| Loss [Member]
Risk rated loans

Loans - Schedule of Age Analysi

Loans - Schedule of Age Analysis of Past-due Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Total Past Due	$ 27	$ 2,179
Current Loans	147,202	101,198
Nonaccrual Loans		812
Total Loans	147,229	104,189
Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	14	2,179
Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	13
Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due
Residential Real Estate [Member]
Total Past Due		944
Current Loans	32,094	27,322
Nonaccrual Loans
Total Loans	32,094	28,266
Residential Real Estate [Member] \| Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due		944
Residential Real Estate [Member] \| Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due
Residential Real Estate [Member] \| Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due
Multi-Family Real Estate [Member]
Total Past Due
Current Loans	16,052	8,396
Nonaccrual Loans
Total Loans	16,052	8,396
Multi-Family Real Estate [Member] \| Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due
Multi-Family Real Estate [Member] \| Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due
Multi-Family Real Estate [Member] \| Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due
Commercial Real Estate [Member]
Total Past Due
Current Loans	67,060	55,652
Nonaccrual Loans
Total Loans	67,060	55,652
Commercial Real Estate [Member] \| Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due
Commercial Real Estate [Member] \| Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due
Commercial Real Estate [Member] \| Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due
Land and Construction [Member]
Total Past Due		1,235
Current Loans	4,332	1,261
Nonaccrual Loans
Total Loans	4,332	2,496
Land and Construction [Member] \| Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due		1,235
Land and Construction [Member] \| Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due
Land and Construction [Member] \| Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due
Commercial [Member]
Total Past Due
Current Loans	22,611	3,664
Nonaccrual Loans		812
Total Loans	22,611	4,476
Commercial [Member] \| Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due
Commercial [Member] \| Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due
Commercial [Member] \| Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due
Consumer [Member]
Total Past Due	27
Current Loans	5,053	4,903
Nonaccrual Loans
Total Loans	5,080	4,903
Consumer [Member] \| Financing Receivables, 30 to 59 Days Past Due [Member]
Total Past Due	14
Consumer [Member] \| Financing Receivables, 60 to 89 Days Past Due [Member]
Total Past Due	13
Consumer [Member] \| Financing Receivables, Greater Than 90 Days Past Due [Member]
Total Past Due

Loans - Schedule of Impaired Lo

Loans - Schedule of Impaired Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Total: recorded investment	$ 2,193	$ 3,962
Total: unpaid principal balance	2,193	3,962
Total: related allowance		789
Commercial Real Estate [Member]
Recorded Investment , With no related allowance recorded	2,193	2,206
Unpaid Principal Balance, With no related allowance recorded	2,193	2,206
Related Allowance, With no related allowance recorded
Total: recorded investment	2,193	2,206
Total: unpaid principal balance	2,193	2,206
Total: related allowance
Residential Real Estate [Member]
Recorded Investment , With related allowance recorded		944
Unpaid Principal Balance, With related allowance recorded		944
Related Allowance, With related allowance recorded		258
Total: recorded investment		944
Total: unpaid principal balance		944
Total: related allowance		258
Commercial [Member]
Recorded Investment , With related allowance recorded		812
Unpaid Principal Balance, With related allowance recorded		812
Related Allowance, With related allowance recorded		531
Total: recorded investment		812
Total: unpaid principal balance		812
Total: related allowance		$ 531

Loans - Schedule of Interest In

Loans - Schedule of Interest Income Recognized and Received on Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impaired loans - Average Recorded Investment	$ 3,089	$ 4,042	$ 3,689	$ 5,085
Impaired loans - Interest Income Recognized	26	46	96	187
Impaired loans - Interest Income Received		46	89	181
Residential Real Estate [Member]
Impaired loans - Average Recorded Investment	626	950	846	950
Impaired loans - Interest Income Recognized		19	18	56
Impaired loans - Interest Income Received		19	11	56
Commercial Real Estate [Member]
Impaired loans - Average Recorded Investment	2,193	2,280	2,194	2,808
Impaired loans - Interest Income Recognized	26	27	78	88
Impaired loans - Interest Income Received		27	60	86
Commercial [Member]
Impaired loans - Average Recorded Investment	270	812	649	1,327
Impaired loans - Interest Income Recognized				43
Impaired loans - Interest Income Received			$ 18	$ 39

Loss Per Share - Schedule of We

Loss Per Share - Schedule of Weighted Average Number of Common Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted-average number of common shares outstanding used to calculate basic and diluted loss per common share	2,951,353	1,928,269	2,920,961	1,886,592

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2020	Sep. 30, 2020	Jun. 30, 2019	Jul. 31, 2020	Dec. 31, 2019
Other liabilities		$ 523			$ 1,320
2018 Equity Incentive Plan [Member]
Share-based compensation number of shares authorized		550,000		250,000
Share-based compensation number of additional shares authorized	300,000
Share-based compensation remain available for grant		318,184
Director [Member]
Compensation expense		$ 200	$ 201
Common stock issued as compensation to directors for services		74,626	58,309
Other liabilities		$ 200

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
Fair Value Measurements (Details Narrative) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Quoted Prices In Active Markets for Identical Assets (Level 1) [Member]
Debt securities transferred in or out
Significant Other Observable Inputs (Level 2) [Member]
Debt securities transferred in or out
Significant Unobservable Inputs (Level 3) [Member]
Debt securities transferred in or out

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured on Nonrecurring Basis (Details) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Losses recorded in operations during the period
Residential Real Estate [Member]
Losses recorded in operations during the period		258
Residential Real Estate [Member] \| Fair Value [Member]
Losses recorded in operations during the period		686
Residential Real Estate [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1) [Member]
Losses recorded in operations during the period
Residential Real Estate [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Losses recorded in operations during the period
Residential Real Estate [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Losses recorded in operations during the period		$ 686
Other Real Estate Owned [Member]
Losses recorded in operations during the period
Other Real Estate Owned [Member] \| Fair Value [Member]
Losses recorded in operations during the period	681
Other Real Estate Owned [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1) [Member]
Losses recorded in operations during the period
Other Real Estate Owned [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Losses recorded in operations during the period
Other Real Estate Owned [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Losses recorded in operations during the period	$ 681

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Debt Securities Available-for-sale Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available-for-sale securities	$ 7,460	$ 5,409
SBA Pool Securities [Member]
Available-for-sale securities	1,321	1,682
Collateralized Mortgage Obligations [Member]
Available-for-sale securities	617	1,016
Mortgage Backed Securities [Member]
Available-for-sale securities	5,522	2,711
Fair Value [Member]
Available-for-sale securities	7,460	5,409
Quoted Prices In Active Markets for Identical Assets (Level 1) [Member]
Available-for-sale securities
Significant Other Observable Inputs (Level 2) [Member]
Available-for-sale securities	7,460	5,409
Significant Unobservable Inputs (Level 3) [Member]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] \| Fair Value [Member] \| SBA Pool Securities [Member]
Available-for-sale securities	1,321	1,682
Fair Value, Measurements, Recurring [Member] \| Fair Value [Member] \| Collateralized Mortgage Obligations [Member]
Available-for-sale securities	617	1,016
Fair Value, Measurements, Recurring [Member] \| Fair Value [Member] \| Mortgage Backed Securities [Member]
Available-for-sale securities	5,522	2,711
Fair Value, Measurements, Recurring [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1) [Member] \| SBA Pool Securities [Member]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1) [Member] \| Collateralized Mortgage Obligations [Member]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1) [Member] \| Mortgage Backed Securities [Member]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| SBA Pool Securities [Member]
Available-for-sale securities	1,321	1,682
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Collateralized Mortgage Obligations [Member]
Available-for-sale securities	617	1,016
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Mortgage Backed Securities [Member]
Available-for-sale securities	5,522	2,711
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| SBA Pool Securities [Member]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Collateralized Mortgage Obligations [Member]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Mortgage Backed Securities [Member]
Available-for-sale securities

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Debt securities available for sale		$ 7,460	$ 5,409
Debt securities held-to-maturity		4,571	5,806
Accrued interest receivable		1,544	432
Quoted Prices In Active Markets for Identical Assets (Level 1) [Member]
Cash and cash equivalents		45,271	8,934
Debt securities available for sale
Significant Other Observable Inputs (Level 2) [Member]
Debt securities available for sale		7,460	5,409
Debt securities held-to-maturity		4,794	5,986
Significant Unobservable Inputs (Level 3) [Member]
Debt securities available for sale
Loans		144,691	102,060
Federal Home Loan Bank stock		1,092	642
Accrued interest receivable		1,544	432
Deposit liabilities		168,003	101,256
Federal Home Loan Bank advances		23,309	13,137
Junior subordinated debenture
Off-balance sheet financial instruments
Carrying Amount [Member]
Cash and cash equivalents		45,271	8,934
Debt securities available for sale		7,460	5,409
Debt securities held-to-maturity		4,571	5,806
Loans		144,532	102,233
Federal Home Loan Bank stock		1,092	642
Accrued interest receivable		1,544	432
Deposit liabilities		167,716	101,372
Federal Home Loan Bank advances		23,000	13,000
Junior subordinated debenture		2,580	2,580
Off-balance sheet financial instruments
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents		45,271	8,934
Debt securities available for sale		7,460	5,409
Debt securities held-to-maturity		4,794	5,986
Loans		144,641	102,060
Federal Home Loan Bank stock		1,092	642
Accrued interest receivable		1,544	432
Deposit liabilities		168,003	101,256
Federal Home Loan Bank advances		23,311	13,137
Junior subordinated debenture	[1]
Off-balance sheet financial instruments

[1]	The Company is unable to determine value based on significant unobservable inputs required in the calculation. Refer to Note 1 for further information.

Off- Balance Sheet Financial _3

Off- Balance Sheet Financial Instruments - Schedule of Off-Balance Sheet Risks of Financial Instruments (Details) $ in Thousands	Sep. 30, 2020USD ($)
Off- Balance Sheet Financial Instruments
Commitments to extend credit	$ 4,091
Unused lines of credit	5,332
Standby letters of credit	$ 4,550

Regulatory Matters (Details Nar

Regulatory Matters (Details Narrative) $ in Thousands	9 Months Ended
Regulatory Matters (Details Narrative) $ in Thousands	Sep. 30, 2020USD ($)
Community bank leverage ratio	8.00%
Maximum [Member]
Community banking organizations of assets	$ 10,000,000

Regulatory Matters - Schedule o

Regulatory Matters - Schedule of Capital Amounts, Ratios and Regulatory Thresholds (Details) $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Line of Credit Facility [Abstract]
Total Capital to Risk-Weighted Assets		$ 12,212
Total Capital to Risk-Weighted Assets, Ratio		0.1203
Tier I Capital to Risk-Weighted Assets		$ 10,934
Tier I Capital to Risk-Weighted Assets, Ratio		0.1077
Common equity Tier I capital to Risk-Weighted Assets		$ 10,934
Common equity Tier I capital to Risk-Weighted Assets, Ratio		10.77%
Tier I Capital to Total Assets	$ 16,175	$ 10,934
Tier I Capital to Total Assets, Ratio	0.0870	0.0873
Total Capital to Risk-Weighted Assets For Capital Adequacy Purposes		$ 8,124
Total Capital to Risk-Weighted Assets For Capital Adequacy Purposes, Ratio		0.0800
Tier I Capital to Risk-Weighted Assets For Capital Adequacy Purposes		$ 6,093
Tier I Capital to Risk-Weighted Assets For Capital Adequacy Purposes, Ratio		0.0600
Common equity Tier I capital to Risk-Weighted Assets For Capital Adequacy Purposes		$ 4,569
Common equity Tier I capital to Risk-Weighted Assets For Capital Adequacy Purposes, Ratio		4.50%
Tier I Capital to Total Assets For Capital Adequacy Purposes	$ 7,434	$ 5,010
Tier I Capital to Total Assets For Capital Adequacy Purposes, Ratio	0.0400	0.0400
Total Capital to Risk-Weighted Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions		$ 10,154
Total Capital to Risk-Weighted Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio		0.1000
Tier I Capital to Risk-Weighted Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions		$ 8,124
Tier I Capital to Risk-Weighted Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio		0.0800
Common equity Tier I capital to Risk-Weighted Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions		$ 6,600
Common equity Tier I capital to Risk-Weighted Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio		6.50%
Tier I Capital to Total Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 9,292	$ 6,263
Tier I Capital to Total Assets Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.0500

Preferred Stock (Details Narrat

Preferred Stock (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Shares issued during the period, amount	$ 539
Preferred stock no par value
Convertible shares of common stock		2,800,000
Liquidation preference per share		$ 25,000
Series B Preferred Stock [Member]
Stockholders beneficial ownership percentage of outstanding shares of common stock		9.90%
Preferred stock, voting rights		The Preferred Stock generally has no voting rights except as provided in the Certificate of Designation.
Series B Participating Preferred Stock [Member] \| Related Party [Member]
Number of shares issued		280
Shares issued price per shares		$ 25,000
Shares issued during the period, amount		$ 700

Contingency (Details Narrative)

Contingency (Details Narrative) $ in Thousands	9 Months Ended
Contingency (Details Narrative) $ in Thousands	Sep. 30, 2020USD ($)Loan
Paycheck Protection Program [Member]
PPP loans, amount	$ 19,200
Number of loans orginated \| Loan	204
Paycheck Protection Program Liquidity Facility [Member]
PPPLF outstanding borrowings