OptimumBank (OPHC) 10-Q 11 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 11, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-50755
Entity Registrant Name	OPTIMUMBANK HOLDINGS, INC.
Entity Central Index Key	0001288855
Entity Tax Identification Number	55-0865043
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	2929 East Commercial Boulevard
Entity Address, City or Town	Fort Lauderdale
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33308
City Area Code	954
Local Phone Number	900-2800
Title of 12(b) Security	Common Stock, $.01 Par Value
Trading Symbol	OPHC
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
Entity Common Stock, Shares Outstanding		6,002,612

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets:
Cash and due from banks	$ 14,694	$ 13,681
Interest-bearing deposits with banks	57,498	45,289
Total cash and cash equivalents	72,192	58,970
Debt securities available for sale	30,946	34,394
Debt securities held-to-maturity (fair value of $804 and $1,071)	808	1,040
Loans, net of allowance for loan losses of $3,408 and $3,075	273,686	247,902
Federal Home Loan Bank stock	850	793
Premises and equipment, net	834	843
Right-of-use lease assets	1,581	1,737
Accrued interest receivable	927	971
Deferred tax asset	3,855	3,442
Other assets	1,495	1,786
Total assets	387,174	351,878
Liabilities:
Noninterest-bearing demand deposits	139,603	124,119
Savings, NOW and money-market deposits	166,508	155,102
Time deposits	11,211	13,236
Total deposits	317,322	292,457
Federal Home Loan Bank advances	18,000	18,000
Official checks	263	140
Operating lease liabilities	1,620	1,775
Other liabilities	652	996
Total liabilities	337,857	313,368
Stockholders’ equity:
Preferred stock, value
Common stock, $.01 par value; 10,000,000 shares authorized, 6,002,612 and 4,775,281 shares issued and outstanding	60	48
Additional paid-in capital	77,204	65,193
Accumulated deficit	(25,241)	(26,096)
Accumulated other comprehensive loss	(2,706)	(635)
Total stockholders’ equity	49,317	38,510
Total liabilities and stockholders’ equity	387,174	351,878
Series A Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value
Series B Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt securities held to maturity, fair value	$ 804	$ 1,071
Loans, allowance for loan losses	$ 3,408	$ 3,075
Preferred stock, par value	$ 0	$ 0
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	6,002,612	4,775,281
Preferred stock, shares outstanding	6,002,612	4,775,281
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0	$ 0
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, par value		$ 0
Preferred stock, shares authorized		1,020
Preferred Stock, Shares Issued	1,020
Preferred Stock, Shares Outstanding	1,020	760

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest income:
Loans	$ 3,263	$ 1,847
Debt securities	163	91
Other	37	27
Total interest income	3,463	1,965
Interest expense:
Deposits	175	181
Borrowings	61	98
Total interest expense	236	279
Net interest income	3,227	1,686
Provision (credit) for loan losses	392	(24)
Net interest income after provision (credit) for loan losses	2,835	1,710
Noninterest income:
Service charges and fees	589	151
Other	61	25
Total noninterest income	650	176
Noninterest expenses:
Salaries and employee benefits	1,335	698
Professional fees	147	112
Occupancy and equipment	167	152
Data processing	277	178
Insurance	24	23
Regulatory assessment	77	61
Other	313	314
Total noninterest expenses	2,340	1,538
Net earnings before income taxes	1,145	348
Income taxes	(290)
Net earnings	$ 855	$ 348
Net earnings per share - basic and diluted	$ 0.17	$ 0.11

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net earnings	$ 855	$ 348
Change in unrealized loss on debt securities:
Unrealized loss arising during the period	(2,781)	(922)
Amortization of unrealized loss on debt securities transferred to held-to-maturity	7	47
Other comprehensive loss before income taxes	(2,774)	(875)
Deferred income tax benefit (provision)	703	(25)
Total other comprehensive loss	(2,071)	(900)
Comprehensive loss	$ (1,216)	$ (552)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Series A Preferred Stock [Member]Preferred Stock [Member]	Series B Preferred Stock [Member]Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Dec. 31, 2020			$ 32	$ 50,263	$ (32,392)	$ (69)	$ 17,834
Beginning balance, shares at Dec. 31, 2020		400	3,203,455
Proceeds from the sale of preferred stock (unaudited)				4,000			4,000
Proceeds from the sale of preferred stock (unaudited), shares		160
Common stock issued for junior subordinated debenture interest payable (unaudited)				41			41
Common stock issued for junior subordinated debenture (unaudited), shares			11,042
Net change in unrealized loss on debt securities available for sale (unaudited)						(922)	(922)
Amortization of unrealized loss on debt securities transferred to held-to-maturity (unaudited)						22	22
Net earnings for three months ended March 31, 2022 (unaudited)					348		348
Ending balance, value at Mar. 31, 2021			$ 32	54,304	(32,044)	(969)	21,323
Ending balance, shares at Mar. 31, 2021		560	3,214,497
Beginning balance, value at Dec. 31, 2021			$ 48	65,193	(26,096)	(635)	38,510
Beginning balance, shares at Dec. 31, 2021		760	4,775,281
Proceeds from the sale of preferred stock (unaudited)				6,500			6,500
Proceeds from the sale of preferred stock (unaudited), shares		260
Net change in unrealized loss on debt securities available for sale (unaudited)						(2,078)	(2,078)
Amortization of unrealized loss on debt securities transferred to held-to-maturity (unaudited)						7	7
Net earnings for three months ended March 31, 2022 (unaudited)					855		855
Proceeds from the sale of common stock (unaudited)			$ 12	5,511			5,523
Proceeds from the sale of common stock (unaudited), shares			1,227,331
Ending balance, value at Mar. 31, 2022			$ 60	$ 77,204	$ (25,241)	$ (2,706)	$ 49,317
Ending balance, shares at Mar. 31, 2022		1,020,000	6,002,612

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net earnings	$ 855	$ 348
Adjustments to reconcile net earnings to net cash provided by in operating activities:
Provision (credit) for loan losses	392	(24)
Depreciation and amortization	56	51
Deferred income taxes	290
Net accretion of fees, premiums and discounts	(62)	(59)
Stock-based compensation expense	96
Decrease in accrued interest receivable	44	223
Amortization of right of use asset	156	37
Net decrease in operating lease liabilities	(155)	(35)
Decrease (increase) in other assets	291	(401)
(Decrease) increase in official checks and other liabilities	(317)	110
Net cash provided by operating activities	1,646	250
Cash flows from investing activities:
Purchase of debt securities available for sale		(5,193)
Principal repayments of debt securities available for sale	617	740
Principal repayments of debt securities held-to-maturity	236	954
Net increase in loans	(26,061)	(15,686)
Purchases of premises and equipment	(47)	(49)
(Purchase) redemption of FHLB stock	(57)	299
Net cash used in investing activities	(25,312)	(18,935)
Cash flows from financing activities:
Net increase in deposits	24,865	18,750
Net decrease in FHLB Advances		(5,000)
Proceeds from sale of preferred stock	6,500	4,000
Proceeds from sale of common stock	5,523
Net cash provided by financing activities	36,888	17,750
Net increase (decrease) in cash and cash equivalents	13,222	(935)
Cash and cash equivalents at beginning of the period	58,970	54,629
Cash and cash equivalents at end of the period	72,192	53,694
Cash paid during the period for:
Interest	237	290
Income taxes
Noncash transactions:
Change in accumulated other comprehensive loss, net change in unrealized loss on debt securities available for sale, net of income taxes	(2,078)	(922)
Amortization of unrealized loss on debt securities transferred to held-to-maturity	7	22
Right-of use lease assets obtained in exchange for operating lease liabilities		191
Increase in other liabilities for stock-based compensation	96
Issuance of common stock for Junior Subordinated Debenture interest payable		$ 41

General

General	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
General	(1) General 100 Basis of Presentation Subsequent Events . The Company has evaluated subsequent events through May 11, 2022, which is the date the condensed consolidated financial statements were issued, determining no additional events required disclosure. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued. Comprehensive Loss Accumulated other comprehensive loss consists of the following (in thousands): Schedule of Accumulated Other Comprehensive Loss March 31, December 31, 2022 2021 Unrealized loss on debt securities available for sale $ (3,597 ) $ (816 ) Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (27 ) (34 ) Income tax benefit 918 215 Accumulated other comprehensive loss $ (2,706 ) $ (635 ) Income Taxes During the fourth quarter of 2021 the Company assessed its earnings history and trend over the past year and its estimate of future earnings, and the Company determined that it was more likely than not that the deferred tax assets would be realized in the near term. Accordingly, in the fourth quarter of 2021, the valuation allowance in the amount of $ 4 million that had been previously recorded against the net deferred tax asset for the amount not expected to be realized in the future was fully reversed. Therefore, there was no provision for income taxes for the three months ended March 31, 2021. Reclassifications Recent Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13 Financial Instruments-Credit Losses (Topic 326) (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Debt Securities

Debt Securities	3 Months Ended
	Mar. 31, 2022
Debt Securities
Debt Securities	(2) Debt Securities Schedule of Amortized Cost and Approximate Fair Values of Debt Securities Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At March 31, 2022: Available for sale: SBA Pool Securities $ 1,063 $ — $ (25 ) $ 1,038 Collateralized mortgage obligations 178 — (4 ) 174 Taxable municipal securities 16,757 — (2,130 ) 14,627 Mortgage-backed securities 16,545 — (1,438 ) 15,107 Total $ 34,543 $ — $ (3,597 ) $ 30,946 Held-to-maturity: Collateralized mortgage obligations $ 673 $ 2 (6 ) $ 669 Mortgage-backed securities 135 — — 135 Total $ 808 $ 2 (6 ) $ 804 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At December 31, 2021: Available for sale: SBA Pool Securities $ 1,097 $ 1 $ (26 ) $ 1,072 Collateralized mortgage obligations 210 7 — 217 Taxable municipal securities 16,766 19 (359 ) 16,426 Mortgage-backed securities 17,137 19 (477 ) 16,679 Total $ 35,210 $ 46 $ (862 ) $ 34,394 Held-to-maturity: Collateralized mortgage obligations $ 854 $ 28 — $ 882 Mortgage-backed securities 186 3 — 189 Total $ 1,040 $ 31 — $ 1,071 There were no sales of debt securities during the three months ended March 31, 2022 and 2021. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (2) Debt Securities Continued. 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): Schedule of Debt Securities with Gross Unrealized Losses, by Investment Category At March 31, 2022 Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value Available for Sale: SBA Pool Securities (25 ) 845 — — Collateralized mortgage obligation — — (4 ) 174 Taxable municipal securities (904 ) 5,650 (1,226 ) 8,977 Mortgage-backed securities (830 ) 7,744 (608 ) 7,363 Total $ (1,759 ) $ 14,239 $ (1,838 ) $ 16,514 At December 31, 2021 Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value Available for Sale : SBA Pool Securities 26 895 — — Taxable municipal securities 81 1,853 278 12,828 Mortgage-backed securities 242 6,179 235 9,984 Total $ 349 $ 8,927 $ 513 $ 22,812 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 March 31, 2022 and December 31, 2021, the unrealized losses on thirty-nine and twenty-nine debt securities, respectively, were caused by market conditions. It is expected that the debt securities will 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. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Loans

Loans	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Loans	(3) Loans Schedule of Components of Loans March 31, December 31, 2022 2021 Residential real estate $ 36,786 $ 32,583 Multi-family real estate 49,907 48,592 Commercial real estate 146,181 129,468 Land and construction 7,579 3,772 Commercial 12,589 14,157 Consumer 24,466 22,827 Total loans 277,508 251,399 Deduct: Net deferred loan fees, costs and premiums (414 ) (422 ) Allowance for loan losses (3,408 ) (3,075 ) Loans, net $ 273,686 $ 247,902 An analysis of the change in the allowance for loan losses follows (in thousands): Schedule of Change in Allowance for Loan Losses Residential Multi-Family Real Estate Commercial Land and Commercial Consumer Total Three Months Ended March 31, 2022: Beginning $ 482 $ 535 $ 1,535 $ 32 $ 74 $ 417 $ 3,075 Provision (credit) for loan losses 93 14 72 47 (6 ) 172 392 Charge-offs — — — — — (73 ) (73 ) Recoveries — — — — — 14 14 Ending balance $ 575 $ 549 $ 1,607 $ 79 $ 68 $ 530 $ 3,408 Three Months Ended March 31, 2021: Beginning balance $ 463 $ 253 $ 884 $ 52 $ 103 $ 151 $ 1,906 (Credit) provision for loan losses (91 ) (15 ) (41 ) (10 ) (4 ) 137 (24 ) Charge-offs — — — — — (20 ) (20 ) Recoveries 24 — — 4 — — 28 Ending balance $ 396 $ 238 $ 843 $ 46 $ 99 $ 268 $ 1,890 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Real Estate Real Estate Commercial Real Estate Land and Construction Commercial Consumer Total Residential Multi-Family Real Estate Real Estate Commercial Real Estate Land and Construction Commercial Consumer Total At March 31, 2022: Individually evaluated for impairment: Recorded investment $ — $ — $ — $ — $ — $ — $ — Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 36,786 $ 49,907 $ 146,181 $ 7,579 $ 12,589 $ 24,466 $ 277,508 Balance in allowance for loan losses $ 574 $ 549 $ 1,607 $ 79 $ 66 $ 533 $ 3,408 At December 31, 2021: Individually evaluated for impairment: Recorded investment $ — $ — $ — $ — $ — $ — $ — Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 32,583 $ 48,592 $ 129,468 $ 3,772 $ 14,157 $ 22,827 $ 251,399 Collectively evaluated for impairment, Recorded investment $ 32,583 $ 48,592 $ 129,468 $ 3,772 $ 14,157 $ 22,827 $ 251,399 Balance in allowance for loan losses $ 481 $ 535 $ 1,535 $ 32 $ 72 $ 420 $ 3,075 Collectively evaluated for impairment, Balance in allowance for loan losses $ 481 $ 535 $ 1,535 $ 32 $ 72 $ 420 $ 3,075 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Residential Real Estate, Multi-Family Real Estate, Commercial Real Estate, Land and Construction. Commercial. 502 PPP loans in a total principal amount of $ 37.4 million. These loans are 100% guaranteed by the Small Business Administration (the “SBA”). At March 31, 2022, the Bank held PPP loans with a total principal balance of $ 8.4 million. Consumer. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Schedule of Loans by Credit Quality Pass OLEM (Other Loans Especially Mentioned) Sub- Standard Doubtful Loss Total At March 31, 2022: Residential real estate $ 34,290 $ — $ 2,496 $ — $ — $ 36,786 Multi-family real estate 49,907 — — — — 49,907 Commercial real estate 142,355 3,826 — — — 146,181 Land and construction 7,579 — — — — 7,579 Commercial 12,475 114 — — — 12,589 Consumer 24,466 — — — — 24,466 Total $ 271,072 $ 3,940 $ 2,496 $ — $ — $ 277,508 At December 31, 2021: Residential real estate $ 30,080 $ — $ 2,503 $ — $ — $ 32,583 Multi-family real estate 47,962 630 — — — 48,592 Commercial real estate 125,620 3,848 — — — 129,468 Land and construction 3,772 — — — — 3,772 Commercial 13,960 197 — — — 14,157 Consumer 22,827 — — — — 22,827 Total $ 244,221 $ 4,675 $ 2,503 $ — $ — $ 251,399 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. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Schedule of Age Analysis of Past-due Loans Accruing Loans 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Past Total Past Due Current Nonaccrual Loans Total Loans At March 31, 2022: Residential real estate $ — $ — $ — $ — $ 36,786 $ — $ 36,786 Multi-family real estate — — — — 49,907 — 49,907 Commercial real estate — — — — 146,181 — 146,181 Land and construction — — — — 7,579 — 7,579 Commercial — — — — 12,589 — 12,589 Consumer 121 59 — 180 24,286 — 24,466 Total $ 121 $ 59 $ — $ 180 $ 277,328 $ — $ 277,508 Accruing Loans 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Nonaccrual Loans Total Loans At December 31, 2021: Residential real estate $ 198 $ — $ — $ 198 $ 32,385 $ — $ 32,583 Multi-family real estate — — — — 48,592 — 48,592 Commercial real estate — — — — 129,468 — 129,468 Land and construction — — — — 3,772 — 3,772 Commercial — — — — 14,157 — 14,157 Consumer 69 — — 69 22,758 — 22,827 Total $ 267 $ — $ — $ 267 $ 251,132 $ — $ 251,399 There were no impaired loans at March 31, 2022 or December 31, 2021. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Schedule of Interest Income Recognized and Received on Impaired Loans Three Months Ended March 31, 2022 2021 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Received Investment Recognized Received Residential real estate $ — $ — $ — $ — $ — $ — Commercial real estate $ — $ — $ — $ 1,644 $ 7 $ 7 Commercial $ — $ — $ — $ — $ — $ — Total $ — $ — $ — $ 1,644 $ 7 $ 7 No loans have been determined to be troubled debt restructurings (TDR’s) during the three month periods ended March 31, 2022 or 2021. At March 31, 2022 and 2021, there were no loans modified and entered into as TDR’s within the past twelve months, that subsequently defaulted during the three month periods ended March 31, 2022 or 2021.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	(4) Earnings Per Share Schedule of Basic and Diluted Loss Per Share 2022 2021 Three Months Ended March 31, 2022 2021 Weighted-average number of common shares outstanding used to calculate basic and diluted earnings per common share 4,892,323 3,203,576 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
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 authorized to issue up to 550,000 250,096 No

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	(6) Fair Value Measurements Debt securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): Schedule of Debt Securities Available-for-sale Measured at Fair Value on Recurring Basis Fair Value Level 1 Level 2 Level 3 Fair Value Measurements Using Quoted Prices Significant In Active Markets for Other Observable Significant Unobservable Fair Value Identical Assets Inputs Inputs (Level 3) At March 31, 2022 : SBA Pool Securities $ 1,038 $ — $ 1,038 — Collateralized mortgage obligations 174 — 174 — Taxable municipal securities 14,627 — 14,627 — Mortgage-backed securities 15,107 — 15,107 — Total $ 30,946 — $ 30,946 — At December 31, 2021 : SBA Pool Securities $ 1,072 $ — $ 1,072 — Collateralized mortgage obligations 217 — 217 — Taxable municipal securities 16,426 — 16,426 — Mortgage-backed securities 16,679 — 16,679 — Total $ 34,394 — $ 34,394 —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Fair Value of Financial Instruments	(7) Fair Value of Financial Instruments Schedule of Estimated Fair Value of Financial Instruments At March 31, 2022 At December 31, 2021 Carrying Amount Fair Value Level Carrying Amount Fair Value Level Financial assets: Cash and cash equivalents $ 72,192 $ 72,192 1 $ 58,970 $ 58,970 1 Debt securities available for sale 30,946 30,946 2 34,394 34,394 2 Debt securities held-to-maturity 808 804 2 1,040 1,071 2 Loans 273,686 274,039 3 247,902 247,788 3 Federal Home Loan Bank stock 850 850 3 793 793 3 Accrued interest receivable 927 927 3 971 971 3 Financial liabilities: Deposit liabilities 317,322 317,368 3 292,457 292,537 3 Federal Home Loan Bank advances 18,000 18,162 3 18,000 18,021 3 Off-balance sheet financial instruments — — 3 — — 3 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Off- Balance Sheet Financial In

Off- Balance Sheet Financial Instruments	3 Months Ended
	Mar. 31, 2022
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 non-performance 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 March 31, 2022 follows (in thousands): Schedule of Off-Balance Sheet Risks of Financial Instruments Commitments to extend credit $ 28,580 Unused lines of credit $ 15,034 Standby letters of credit $ 3,000

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2022
Regulatory Matters	(9) Regulatory Matters (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (9) Regulatory Matters, Continued. Management believes, as of March 31, 2022 and December 31, 2021, that the Bank meets all capital adequacy requirements to which it is subject. The Bank’s actual capital amounts and percentages are presented in the table ($ in thousands): Schedule of Capital Amounts, Ratios and Regulatory Thresholds Actual To Be Well Capitalized Under Prompt Corrective Action Regulations (CBLR Framework) Amount % Amount % As of March 31, 2022: Tier I Capital to Total Assets 48,559 12.53 % 34,884 9.00 % As of December 31, 2021: Tier I Capital to Total Assets 35,338 10.64 % 28,235 8.50 %

Preferred Stock

Preferred Stock	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Preferred Stock	(10) Preferred Stock During the first quarter of 2022, the Company issued 260 shares of Series B-2 Participating Preferred Stock to an unrelated party at a cash price of $ 25,000 per share, or an aggregate of $ 6,500,000 . OptimumBank Holding Inc. is authorized to issue 1,020 25,000 per share. The Preferred Stock has no par value. Except in the event of liquidation, if the Company declares or pays a dividend or distribution on the common stock, the Company shall simultaneously declare and pay a dividend on the Series B Preferred on a pro rata basis with the common stock determined on an as-converted basis assuming all shares of Series B Preferred Stock had been converted immediately prior to the record date of the applicable dividend. The Preferred Stock is convertible into shares of common stock, at the option of the Company, subject to the prior fulfilment of the following conditions: (i) such conversion shall have been approved by the holders of a majority of the outstanding common stock of the Company; and (ii) such conversion shall not result in any holder of the Series B Preferred Stock and any persons with whom the holder may be acting in concert, becoming beneficial owners of more than 9.9% 25,000 The Series B Preferred generally has no voting rights except as provided in the Certificate of Designation The Series B is subdivided into Series B-1 and Series B-2 Preferred Stock. The Company is authorized to issue 760 260 shares of Series B-2. Series B-2 has substantially the same rights, preferences, powers, restrictions and limitations, except that the initial conversion price of the Series B-1 is $ 2.50 per share and the initial conversion price for Series B-2 is $ 4.00 per share.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	(11) Contingencies

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Subsequent Events	Subsequent Events . The Company has evaluated subsequent events through May 11, 2022, which is the date the condensed consolidated financial statements were issued, determining no additional events required disclosure. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued.
Comprehensive Loss	Comprehensive Loss Accumulated other comprehensive loss consists of the following (in thousands): Schedule of Accumulated Other Comprehensive Loss March 31, December 31, 2022 2021 Unrealized loss on debt securities available for sale $ (3,597 ) $ (816 ) Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (27 ) (34 ) Income tax benefit 918 215 Accumulated other comprehensive loss $ (2,706 ) $ (635 )
Income Taxes	Income Taxes During the fourth quarter of 2021 the Company assessed its earnings history and trend over the past year and its estimate of future earnings, and the Company determined that it was more likely than not that the deferred tax assets would be realized in the near term. Accordingly, in the fourth quarter of 2021, the valuation allowance in the amount of $ 4 million that had been previously recorded against the net deferred tax asset for the amount not expected to be realized in the future was fully reversed. Therefore, there was no provision for income taxes for the three months ended March 31, 2021.
Reclassifications	Reclassifications
Recent Pronouncements	Recent Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13 Financial Instruments-Credit Losses (Topic 326) (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

General (Tables)

General (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consists of the following (in thousands): Schedule of Accumulated Other Comprehensive Loss March 31, December 31, 2022 2021 Unrealized loss on debt securities available for sale $ (3,597 ) $ (816 ) Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (27 ) (34 ) Income tax benefit 918 215 Accumulated other comprehensive loss $ (2,706 ) $ (635 )

Debt Securities (Tables)

Debt Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Securities
Schedule of Amortized Cost and Approximate Fair Values of Debt Securities	Schedule of Amortized Cost and Approximate Fair Values of Debt Securities Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At March 31, 2022: Available for sale: SBA Pool Securities $ 1,063 $ — $ (25 ) $ 1,038 Collateralized mortgage obligations 178 — (4 ) 174 Taxable municipal securities 16,757 — (2,130 ) 14,627 Mortgage-backed securities 16,545 — (1,438 ) 15,107 Total $ 34,543 $ — $ (3,597 ) $ 30,946 Held-to-maturity: Collateralized mortgage obligations $ 673 $ 2 (6 ) $ 669 Mortgage-backed securities 135 — — 135 Total $ 808 $ 2 (6 ) $ 804 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At December 31, 2021: Available for sale: SBA Pool Securities $ 1,097 $ 1 $ (26 ) $ 1,072 Collateralized mortgage obligations 210 7 — 217 Taxable municipal securities 16,766 19 (359 ) 16,426 Mortgage-backed securities 17,137 19 (477 ) 16,679 Total $ 35,210 $ 46 $ (862 ) $ 34,394 Held-to-maturity: Collateralized mortgage obligations $ 854 $ 28 — $ 882 Mortgage-backed securities 186 3 — 189 Total $ 1,040 $ 31 — $ 1,071
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): Schedule of Debt Securities with Gross Unrealized Losses, by Investment Category At March 31, 2022 Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value Available for Sale: SBA Pool Securities (25 ) 845 — — Collateralized mortgage obligation — — (4 ) 174 Taxable municipal securities (904 ) 5,650 (1,226 ) 8,977 Mortgage-backed securities (830 ) 7,744 (608 ) 7,363 Total $ (1,759 ) $ 14,239 $ (1,838 ) $ 16,514 At December 31, 2021 Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value Available for Sale : SBA Pool Securities 26 895 — — Taxable municipal securities 81 1,853 278 12,828 Mortgage-backed securities 242 6,179 235 9,984 Total $ 349 $ 8,927 $ 513 $ 22,812

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Schedule of Components of Loans	Schedule of Components of Loans March 31, December 31, 2022 2021 Residential real estate $ 36,786 $ 32,583 Multi-family real estate 49,907 48,592 Commercial real estate 146,181 129,468 Land and construction 7,579 3,772 Commercial 12,589 14,157 Consumer 24,466 22,827 Total loans 277,508 251,399 Deduct: Net deferred loan fees, costs and premiums (414 ) (422 ) Allowance for loan losses (3,408 ) (3,075 ) Loans, net $ 273,686 $ 247,902
Schedule of Change in Allowance for Loan Losses	Schedule of Change in Allowance for Loan Losses Residential Multi-Family Real Estate Commercial Land and Commercial Consumer Total Three Months Ended March 31, 2022: Beginning $ 482 $ 535 $ 1,535 $ 32 $ 74 $ 417 $ 3,075 Provision (credit) for loan losses 93 14 72 47 (6 ) 172 392 Charge-offs — — — — — (73 ) (73 ) Recoveries — — — — — 14 14 Ending balance $ 575 $ 549 $ 1,607 $ 79 $ 68 $ 530 $ 3,408 Three Months Ended March 31, 2021: Beginning balance $ 463 $ 253 $ 884 $ 52 $ 103 $ 151 $ 1,906 (Credit) provision for loan losses (91 ) (15 ) (41 ) (10 ) (4 ) 137 (24 ) Charge-offs — — — — — (20 ) (20 ) Recoveries 24 — — 4 — — 28 Ending balance $ 396 $ 238 $ 843 $ 46 $ 99 $ 268 $ 1,890 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Real Estate Real Estate Commercial Real Estate Land and Construction Commercial Consumer Total Residential Multi-Family Real Estate Real Estate Commercial Real Estate Land and Construction Commercial Consumer Total At March 31, 2022: Individually evaluated for impairment: Recorded investment $ — $ — $ — $ — $ — $ — $ — Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 36,786 $ 49,907 $ 146,181 $ 7,579 $ 12,589 $ 24,466 $ 277,508 Balance in allowance for loan losses $ 574 $ 549 $ 1,607 $ 79 $ 66 $ 533 $ 3,408 At December 31, 2021: Individually evaluated for impairment: Recorded investment $ — $ — $ — $ — $ — $ — $ — Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 32,583 $ 48,592 $ 129,468 $ 3,772 $ 14,157 $ 22,827 $ 251,399 Collectively evaluated for impairment, Recorded investment $ 32,583 $ 48,592 $ 129,468 $ 3,772 $ 14,157 $ 22,827 $ 251,399 Balance in allowance for loan losses $ 481 $ 535 $ 1,535 $ 32 $ 72 $ 420 $ 3,075 Collectively evaluated for impairment, Balance in allowance for loan losses $ 481 $ 535 $ 1,535 $ 32 $ 72 $ 420 $ 3,075
Schedule of Loans by Credit Quality	Schedule of Loans by Credit Quality Pass OLEM (Other Loans Especially Mentioned) Sub- Standard Doubtful Loss Total At March 31, 2022: Residential real estate $ 34,290 $ — $ 2,496 $ — $ — $ 36,786 Multi-family real estate 49,907 — — — — 49,907 Commercial real estate 142,355 3,826 — — — 146,181 Land and construction 7,579 — — — — 7,579 Commercial 12,475 114 — — — 12,589 Consumer 24,466 — — — — 24,466 Total $ 271,072 $ 3,940 $ 2,496 $ — $ — $ 277,508 At December 31, 2021: Residential real estate $ 30,080 $ — $ 2,503 $ — $ — $ 32,583 Multi-family real estate 47,962 630 — — — 48,592 Commercial real estate 125,620 3,848 — — — 129,468 Land and construction 3,772 — — — — 3,772 Commercial 13,960 197 — — — 14,157 Consumer 22,827 — — — — 22,827 Total $ 244,221 $ 4,675 $ 2,503 $ — $ — $ 251,399
Schedule of Age Analysis of Past-due Loans	Schedule of Age Analysis of Past-due Loans Accruing Loans 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Past Total Past Due Current Nonaccrual Loans Total Loans At March 31, 2022: Residential real estate $ — $ — $ — $ — $ 36,786 $ — $ 36,786 Multi-family real estate — — — — 49,907 — 49,907 Commercial real estate — — — — 146,181 — 146,181 Land and construction — — — — 7,579 — 7,579 Commercial — — — — 12,589 — 12,589 Consumer 121 59 — 180 24,286 — 24,466 Total $ 121 $ 59 $ — $ 180 $ 277,328 $ — $ 277,508 Accruing Loans 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Nonaccrual Loans Total Loans At December 31, 2021: Residential real estate $ 198 $ — $ — $ 198 $ 32,385 $ — $ 32,583 Multi-family real estate — — — — 48,592 — 48,592 Commercial real estate — — — — 129,468 — 129,468 Land and construction — — — — 3,772 — 3,772 Commercial — — — — 14,157 — 14,157 Consumer 69 — — 69 22,758 — 22,827 Total $ 267 $ — $ — $ 267 $ 251,132 $ — $ 251,399
Schedule of Interest Income Recognized and Received on Impaired Loans	Schedule of Interest Income Recognized and Received on Impaired Loans Three Months Ended March 31, 2022 2021 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Received Investment Recognized Received Residential real estate $ — $ — $ — $ — $ — $ — Commercial real estate $ — $ — $ — $ 1,644 $ 7 $ 7 Commercial $ — $ — $ — $ — $ — $ — Total $ — $ — $ — $ 1,644 $ 7 $ 7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share	Schedule of Basic and Diluted Loss Per Share 2022 2021 Three Months Ended March 31, 2022 2021 Weighted-average number of common shares outstanding used to calculate basic and diluted earnings per common share 4,892,323 3,203,576

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
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): Schedule of Debt Securities Available-for-sale Measured at Fair Value on Recurring Basis Fair Value Level 1 Level 2 Level 3 Fair Value Measurements Using Quoted Prices Significant In Active Markets for Other Observable Significant Unobservable Fair Value Identical Assets Inputs Inputs (Level 3) At March 31, 2022 : SBA Pool Securities $ 1,038 $ — $ 1,038 — Collateralized mortgage obligations 174 — 174 — Taxable municipal securities 14,627 — 14,627 — Mortgage-backed securities 15,107 — 15,107 — Total $ 30,946 — $ 30,946 — At December 31, 2021 : SBA Pool Securities $ 1,072 $ — $ 1,072 — Collateralized mortgage obligations 217 — 217 — Taxable municipal securities 16,426 — 16,426 — Mortgage-backed securities 16,679 — 16,679 — Total $ 34,394 — $ 34,394 —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
Schedule of Estimated Fair Value of Financial Instruments	Schedule of Estimated Fair Value of Financial Instruments At March 31, 2022 At December 31, 2021 Carrying Amount Fair Value Level Carrying Amount Fair Value Level Financial assets: Cash and cash equivalents $ 72,192 $ 72,192 1 $ 58,970 $ 58,970 1 Debt securities available for sale 30,946 30,946 2 34,394 34,394 2 Debt securities held-to-maturity 808 804 2 1,040 1,071 2 Loans 273,686 274,039 3 247,902 247,788 3 Federal Home Loan Bank stock 850 850 3 793 793 3 Accrued interest receivable 927 927 3 971 971 3 Financial liabilities: Deposit liabilities 317,322 317,368 3 292,457 292,537 3 Federal Home Loan Bank advances 18,000 18,162 3 18,000 18,021 3 Off-balance sheet financial instruments — — 3 — — 3 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Off- Balance Sheet Financial _2

Off- Balance Sheet Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Off- Balance Sheet Financial Instruments
Schedule of Off-Balance Sheet Risks of Financial Instruments	Schedule of Off-Balance Sheet Risks of Financial Instruments Commitments to extend credit $ 28,580 Unused lines of credit $ 15,034 Standby letters of credit $ 3,000

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2022
Schedule of Capital Amounts, Ratios and Regulatory Thresholds	Schedule of Capital Amounts, Ratios and Regulatory Thresholds Actual To Be Well Capitalized Under Prompt Corrective Action Regulations (CBLR Framework) Amount % Amount % As of March 31, 2022: Tier I Capital to Total Assets 48,559 12.53 % 34,884 9.00 % As of December 31, 2021: Tier I Capital to Total Assets 35,338 10.64 % 28,235 8.50 %

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Unrealized loss on debt securities available for sale	$ (3,597)	$ (816)
Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity	(27)	(34)
Income tax benefit	918	215
Accumulated other comprehensive loss	$ (2,706)	$ (635)

General (Details Narrative)

General (Details Narrative) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Equity method investment, ownership percentage	100.00%
Deferred Tax Assets, Valuation Allowance		$ 4

Schedule of Amortized Cost and

Schedule of Amortized Cost and Approximate Fair Values of Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	$ 34,543	$ 35,210
Available for sale, gross unrealized gains		46
Available for sale, gross unrealized losses	(3,597)	(862)
Available for sale, fair value	30,946	34,394
Held-to-maturity, amortized cost	808	1,040
Held-to-maturity, gross unrealized gains	2	31
Held-to-maturity, gross unrealized losses	(6)
Held-to-maturity, fair value	804	1,071
Taxable Municipal Bonds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	16,757	16,766
Available for sale, gross unrealized gains		19
Available for sale, gross unrealized losses	(2,130)	(359)
SBA Pool Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	1,063	1,097
Available for sale, gross unrealized gains		1
Available for sale, gross unrealized losses	(25)	(26)
Available for sale, fair value	1,038	1,072
Collateralized Mortgage Obligations [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	178	210
Available for sale, gross unrealized gains		7
Available for sale, gross unrealized losses	(4)
Available for sale, fair value	174	217
Held-to-maturity, amortized cost	673	854
Held-to-maturity, gross unrealized gains	2	28
Held-to-maturity, gross unrealized losses	(6)
Held-to-maturity, fair value	669	882
Taxable Municipal Bonds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, fair value	14,627	16,426
Collateralized Mortgage-Backed Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	16,545	17,137
Available for sale, gross unrealized gains		19
Available for sale, gross unrealized losses	(1,438)	(477)
Available for sale, fair value	15,107	16,679
Held-to-maturity, amortized cost	135	186
Held-to-maturity, gross unrealized gains		3
Held-to-maturity, gross unrealized losses
Held-to-maturity, fair value	$ 135	$ 189

Schedule of Debt Securities wit

Schedule of Debt Securities with Gross Unrealized Losses, by Investment Category (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	$ (1,759)	$ 349
Available for Sale, Securities Position Over 12 Months, Fair Value	14,239	8,927
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses	(1,838)	513
Available for Sale, Securities Position Less than 12 Month, Fair Value	16,514	22,812
Taxable Municipal Bonds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	(904)	81
Available for Sale, Securities Position Over 12 Months, Fair Value	5,650	1,853
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses	(1,226)	278
Available for Sale, Securities Position Less than 12 Month, Fair Value	8,977	12,828
SBA Pool Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	(25)	26
Available for Sale, Securities Position Over 12 Months, Fair Value	845	895
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses
Available for Sale, Securities Position Less than 12 Month, Fair Value
Collateralized Mortgage Obligations [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses
Available for Sale, Securities Position Over 12 Months, Fair Value
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses	(4)
Available for Sale, Securities Position Less than 12 Month, Fair Value	174
Collateralized Mortgage-Backed Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	(830)	242
Available for Sale, Securities Position Over 12 Months, Fair Value	7,744	6,179
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses	(608)	235
Available for Sale, Securities Position Less than 12 Month, Fair Value	$ 7,363	$ 9,984

Schedule of Components of Loans

Schedule of Components of Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Total loans	$ 277,508	$ 251,399
Net deferred loan fees, costs and premiums	(414)	(422)
Allowance for loan losses	(3,408)	(3,075)	$ (1,890)	$ (1,906)
Loans, net	273,686	247,902
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	36,786	32,583
Allowance for loan losses	(575)	(482)	(396)	(463)
Multi-Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Total loans	49,907	48,592
Allowance for loan losses	(549)	(535)	(238)	(253)
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	146,181	129,468
Allowance for loan losses	(1,607)	(1,535)	(843)	(884)
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Total loans	7,579	3,772
Allowance for loan losses	(79)	(32)	(46)	(52)
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	12,589	14,157
Allowance for loan losses	(68)	(74)	(99)	(103)
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	24,466	22,827
Allowance for loan losses	$ (530)	$ (417)	$ (268)	$ (151)

Schedule of Change in Allowance

Schedule of Change in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Beginning balance	$ 3,075	$ 1,906
(Credit) provision for loan losses	392	(24)
Charge-offs	(73)	(20)
Recoveries	14	28
Ending balance	3,408	1,890
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	277,508		251,399
Collectively evaluated for impairment, Balance in allowance for loan losses	3,408		3,075
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	482	463
(Credit) provision for loan losses	93	(91)
Charge-offs
Recoveries		24
Ending balance	575	396
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	36,786		32,583
Collectively evaluated for impairment, Balance in allowance for loan losses	574		481
Multi-Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	535	253
(Credit) provision for loan losses	14	(15)
Charge-offs
Recoveries
Ending balance	549	238
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	49,907		48,592
Collectively evaluated for impairment, Balance in allowance for loan losses	549		535
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	1,535	884
(Credit) provision for loan losses	72	(41)
Charge-offs
Recoveries
Ending balance	1,607	843
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	146,181		129,468
Collectively evaluated for impairment, Balance in allowance for loan losses	1,607		1,535
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	32	52
(Credit) provision for loan losses	47	(10)
Charge-offs
Recoveries		4
Ending balance	79	46
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	7,579		3,772
Collectively evaluated for impairment, Balance in allowance for loan losses	79		32
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	74	103
(Credit) provision for loan losses	(6)	(4)
Charge-offs
Recoveries
Ending balance	68	99
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	12,589		14,157
Collectively evaluated for impairment, Balance in allowance for loan losses	66		72
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	417	151
(Credit) provision for loan losses	172	137
Charge-offs	(73)	(20)
Recoveries	14
Ending balance	530	$ 268
Recorded investment
Balance in allowance for loan losses
Collectively evaluated for impairment, Recorded investment	24,466		22,827
Collectively evaluated for impairment, Balance in allowance for loan losses	$ 533		$ 420

Schedule of Loans by Credit Qua

Schedule of Loans by Credit Quality (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Risk rated loans	$ 277,508	$ 251,399
Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	271,072	244,221
Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	3,940	4,675
Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	2,496	2,503
Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	36,786	32,583
Residential Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	34,290	30,080
Residential Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Residential Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	2,496	2,503
Residential Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Residential Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Multi-Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	49,907	48,592
Multi-Family Real Estate [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	49,907	47,962
Multi-Family Real Estate [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans		630
Multi-Family Real Estate [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Multi-Family Real Estate [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Multi-Family Real Estate [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	146,181	129,468
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	142,355	125,620
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	3,826	3,848
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Commercial Real Estate Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	7,579	3,772
Construction Loans [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	7,579	3,772
Construction Loans [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Construction Loans [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Construction Loans [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Construction Loans [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	12,589	14,157
Commercial Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	12,475	13,960
Commercial Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	114	197
Commercial Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Commercial Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Commercial Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	24,466	22,827
Consumer Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans	24,466	22,827
Consumer Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Consumer Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Consumer Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans
Consumer Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Risk rated loans

Schedule of Age Analysis of Pas

Schedule of Age Analysis of Past-due Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	277,508	251,399
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	121	267
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	59
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	180	267
Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	277,328	251,132
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	36,786	32,583
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans		198
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans		198
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	36,786	32,385
Multi-Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	49,907	48,592
Multi-Family Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Multi-Family Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Multi-Family Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Multi-Family Real Estate [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Multi-Family Real Estate [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	49,907	48,592
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	146,181	129,468
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	146,181	129,468
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	7,579	3,772
Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Construction Loans [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Construction Loans [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	7,579	3,772
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	12,589	14,157
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	12,589	14,157
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Nonaccrual loans
Total loans	24,466	22,827
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	121	69
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	59
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	180	69
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Past due loans	$ 24,286	$ 22,758

Schedule of Interest Income Rec

Schedule of Interest Income Recognized and Received on Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable, Past Due [Line Items]
Impaired loans - Average Recorded Investment		$ 1,644
Impaired loans - Interest Income Recognized		7
Impaired loans - Interest Income Received		7
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Impaired loans - Average Recorded Investment
Impaired loans - Interest Income Recognized
Impaired loans - Interest Income Received
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Impaired loans - Average Recorded Investment		1,644
Impaired loans - Interest Income Recognized		7
Impaired loans - Interest Income Received		7
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Impaired loans - Average Recorded Investment
Impaired loans - Interest Income Recognized
Impaired loans - Interest Income Received

Loans (Details Narrative)

Loans (Details Narrative) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Number
PPP Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 37.4
Loans Payable	$ 8.4
Paycheck Protection Program [Member]
Debt Instrument [Line Items]
Number of Loans Originated | Number	502

Schedule of Basic and Diluted L

Schedule of Basic and Diluted Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Weighted-average number of common shares outstanding used to calculate basic and diluted earnings per common share	4,892,323	3,203,576

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative)	Mar. 31, 2022shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, outstanding	0
2018 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, granted	250,096
Maximum [Member] | 2018 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, issued	550,000

Schedule of Debt Securities Ava

Schedule of Debt Securities Available-for-sale Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	$ 30,946	$ 34,394
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	30,946	34,394
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	30,946	34,394
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
SBA Pool Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	1,038	1,072
SBA Pool Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
SBA Pool Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	1,038	1,072
SBA Pool Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Collateralized Mortgage Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	174	217
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	174	217
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Taxable Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	14,627	16,426
Taxable Municipal Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Taxable Municipal Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	14,627	16,426
Taxable Municipal Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Collateralized Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	15,107	16,679
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value	15,107	16,679
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value

Schedule of Estimated Fair Valu

Schedule of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Cash and cash equivalents	$ 72,192	$ 58,970
Debt securities available for sale	30,946	34,394
Debt securities held-to-maturity	808	1,040
Loans	273,686	247,902
Federal Home Loan Bank stock	850	793
Accrued interest receivable	927	971
Deposit liabilities	317,322	292,457
Federal Home Loan Bank advances	18,000	18,000
Off-balance sheet financial instruments
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Cash and cash equivalents	72,192	58,970
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Debt securities available for sale	30,946	34,394
Debt securities held-to-maturity	804	1,071
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Loans		247,788
Federal Home Loan Bank stock	850	793
Accrued interest receivable	927	971
Deposit liabilities		292,537
Federal Home Loan Bank advances		18,021
Off-balance sheet financial instruments

Schedule of Off-Balance Sheet R

Schedule of Off-Balance Sheet Risks of Financial Instruments (Details) $ in Thousands	Mar. 31, 2022USD ($)
Off- Balance Sheet Financial Instruments
Commitments to extend credit	$ 28,580
Unused lines of credit	15,034
Standby letters of credit	$ 3,000

Schedule of Capital Amounts, Ra

Schedule of Capital Amounts, Ratios and Regulatory Thresholds (Details) $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Tier I Capital to Total Assets	$ 48,559	$ 35,338
Tier I Capital to Total Assets, Ratio	0.1253	0.1064
Tier I Capital to Total Assets To Be Well Capitalized Under Prompt Corrective Action Regulations (CBLR Framework)	$ 34,884	$ 28,235
Tier I Capital to Total Assets To Be Well Capitalized Under Prompt Corrective Action Regulations (CBLR Framework), Ratio	0.0900	0.0850

Preferred Stock (Details Narrat

Preferred Stock (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Value, New Issues	$ 5,523
Preferred stock, shares authorized	6,000,000	6,000,000
Series B Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized		1,020
Preferred stock, shares issued	1,020
Stockholders beneficial ownership percentage of outstanding shares of common stock	9.90%
Preferred stock, liquidation	$ 25,000
Preferred Stock, Voting Rights	The Series B Preferred generally has no voting rights except as provided in the Certificate of Designation
Series B-1 Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized	760
Preferred stock, shares issued	760
Preferred Stock, Convertible, Conversion Price	$ 2.50
Series B-2 Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized	260
Preferred Stock, Convertible, Conversion Price	$ 4
Series B Participating Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares Issued, Price Per Share	$ 25,000
Un Related Party [Member] | Series B Two Participating Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues	260
Shares Issued, Price Per Share	$ 25,000
Stock Issued During Period, Value, New Issues	$ 6,500