OptimumBank (OPHC) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 09, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
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		7,250,219

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Cash and due from banks	$ 11,852	$ 19,788
Interest-bearing deposits with banks	66,521	52,048
Total cash and cash equivalents	78,373	71,836
Debt securities available for sale	24,762	25,102
Debt securities held-to-maturity (fair value of $406 and $504)	445	540
Loans, net of allowance for credit losses of $6,645 and $5,793	518,829	477,218
Federal Home Loan Bank stock	717	600
Premises and equipment, net	1,162	934
Right-of-use lease assets	2,300	2,119
Accrued interest receivable	1,559	1,444
Deferred tax asset	3,091	3,836
Other assets	1,275	1,590
Total assets	632,513	585,219
Liabilities:
Noninterest-bearing demand deposits	215,326	159,193
Savings, NOW and money-market deposits	128,732	108,726
Time deposits	207,573	239,980
Total deposits	551,631	507,899
Federal Home Loan Bank advances	10,000	10,000
Official checks	67	110
Operating lease liabilities	2,370	2,172
Other liabilities	2,516	2,458
Total liabilities	566,584	522,639
Commitments and contingencies (Notes 8 and 11)
Stockholders’ equity:
Preferred stock, value
Common stock, $.01 par value; 10,000,000 shares authorized, 7,250,219 and 7,058,897 shares issued and outstanding	72	71
Additional paid-in capital	91,221	90,408
Accumulated deficit	(19,789)	(22,073)
Accumulated other comprehensive loss	(5,575)	(5,826)
Total stockholders’ equity	65,929	62,580
Total liabilities and stockholders’ equity	632,513	585,219
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	Jun. 30, 2023	Dec. 31, 2022
Debt securities held to maturity, fair value	$ 406	$ 504
Loans, allowance for loan losses	$ 6,645	$ 5,793
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	7,250,219	7,058,897
Common stock, shares outstanding	7,250,219	7,058,897
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	$ 0
Preferred stock, shares authorized	1,520	1,520
Preferred stock, shares issued	1,360	1,360
Preferred stock, shares outstanding	1,360	1,360

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest income:
Loans	$ 7,252	$ 3,764	$ 13,841	$ 7,027
Debt securities	172	159	350	322
Other	755	102	1,504	139
Total interest income	8,179	4,025	15,695	7,488
Interest expense:
Deposits	2,556	170	4,988	345
Borrowings	31	102	56	163
Total interest expense	2,587	272	5,044	508
Net interest income	5,592	3,753	10,651	6,980
Credit loss expense	704	991	1,524	1,383
Net interest income after credit loss expense	4,888	2,762	9,127	5,597
Noninterest income:
Service charges and fees	759	680	1,478	1,269
Other	13	84	23	145
Total noninterest income	772	764	1,501	1,414
Noninterest expenses:
Salaries and employee benefits	2,041	1,307	4,007	2,642
Professional fees	171	142	368	289
Occupancy and equipment	188	175	377	342
Data processing	385	285	751	562
Regulatory assessment	224	23	433	100
Litigation Settlement	375		375
Other	518	328	1,013	665
Total noninterest expenses	3,902	2,260	7,324	4,600
Net earnings before income taxes	1,758	1,266	3,304	2,411
Income taxes	446	321	839	611
Net earnings	$ 1,312	$ 945	$ 2,465	$ 1,800
Net earnings per share - Basic	$ 0.18	$ 0.16	$ 0.34	$ 0.33
Net earnings per share - Diluted	$ 0.18	$ 0.16	$ 0.34	$ 0.33

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net earnings	$ 1,312	$ 945	$ 2,465	$ 1,800
Change in unrealized loss on debt securities:
Unrealized (loss) gain arising during the period	(380)	(3,124)	335	(5,905)
Amortization of unrealized loss on debt securities transferred to held-to-maturity	1	4	2	11
Other comprehensive (loss) income before income taxes	(379)	(3,120)	337	(5,894)
Deferred income taxes benefit (provision)	91	792	(85)	1,495
Total other comprehensive (loss) income	(288)	(2,328)	252	(4,399)
Comprehensive income (loss)	$ 1,024	$ (1,383)	$ 2,717	$ (2,599)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member] Series A Preferred Stock [Member]	Preferred Stock [Member] Series B Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2021			$ 48	$ 65,193	$ (26,096)	$ (635)	$ 38,510
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
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
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 (unaudited)					855		855
Balance at Mar. 31, 2022			$ 60	77,204	(25,241)	(2,706)	49,317
Balance, shares at Mar. 31, 2022		1,020	6,002,612
Balance at Dec. 31, 2021			$ 48	65,193	(26,096)	(635)	38,510
Balance, shares at Dec. 31, 2021		760	4,775,281
Net earnings (unaudited)							1,800
Balance at Jun. 30, 2022			$ 60	77,300	(24,296)	(5,034)	48,030
Balance, shares at Jun. 30, 2022		1,020	6,027,105
Balance at Mar. 31, 2022			$ 60	77,204	(25,241)	(2,706)	49,317
Balance, shares at Mar. 31, 2022		1,020	6,002,612
Net change in unrealized loss on debt securities available for sale (unaudited)						(2,332)	(2,332)
Amortization of unrealized loss on debt securities transferred to held-to-maturity (unaudited)						4	4
Net earnings (unaudited)					945		945
Stock-based Compensation (unaudited)				96			96
Stock-based compensation (unaudited), shares			24,493
Balance at Jun. 30, 2022			$ 60	77,300	(24,296)	(5,034)	48,030
Balance, shares at Jun. 30, 2022		1,020	6,027,105
Balance at Dec. 31, 2022			$ 71	90,408	(22,073)	(5,826)	62,580
Balance, shares at Dec. 31, 2022		1,360	7,058,897
Proceeds from the sale of common stock (unaudited)				324			324
Proceeds from the sale of common stock (unaudited), shares			72,221
Net change in unrealized loss on debt securities available for sale (unaudited)						538	538
Amortization of unrealized loss on debt securities transferred to held-to-maturity (unaudited)						1	1
Net earnings (unaudited)					1,153		1,153
Stock-based Compensation (unaudited)			$ 1	489			490
Stock-based compensation (unaudited), shares			119,101
Additional allowance recognized due to adoption of Topic 326					(181)		(181)
Balance at Mar. 31, 2023			$ 72	91,221	(21,101)	(5,287)	64,905
Balance, shares at Mar. 31, 2023		1,360	7,250,219
Balance at Dec. 31, 2022			$ 71	90,408	(22,073)	(5,826)	62,580
Balance, shares at Dec. 31, 2022		1,360	7,058,897
Net earnings (unaudited)							2,465
Balance at Jun. 30, 2023			$ 72	91,221	(19,789)	(5,575)	65,929
Balance, shares at Jun. 30, 2023		1,360	7,250,219
Balance at Mar. 31, 2023			$ 72	91,221	(21,101)	(5,287)	64,905
Balance, shares at Mar. 31, 2023		1,360	7,250,219
Net change in unrealized loss on debt securities available for sale (unaudited)						(289)	(289)
Amortization of unrealized loss on debt securities transferred to held-to-maturity (unaudited)						1	1
Net earnings (unaudited)					1,312		1,312
Balance at Jun. 30, 2023			$ 72	$ 91,221	$ (19,789)	$ (5,575)	$ 65,929
Balance, shares at Jun. 30, 2023		1,360	7,250,219

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net earnings	$ 2,465	$ 1,800
Adjustments to reconcile net earnings to net cash provided by operating activities:
Credit loss expense	1,524	1,383
Depreciation and amortization	115	115
Deferred income taxes	734	613
Net accretion of fees, premiums and discounts	11	(252)
Stock-based compensation expense	490	96
Increase in accrued interest receivable	(115)	(26)
Amortization of right of use asset	134	217
Net decrease in operating lease liabilities	(117)	(211)
Decrease (increase) in other assets	315	(332)
(Decrease) increase in official checks and other liabilities	(221)	1,050
Net cash provided by operating activities	5,335	4,453
Cash flows from investing activities:
Principal repayments of debt securities available for sale	606	1,177
Principal repayments of debt securities held-to-maturity	98	398
Net increase in loans	(43,098)	(102,070)
Purchases of premises and equipment	(343)	(112)
Purchase of FHLB stock	(117)	(1,932)
Net cash used in investing activities	(42,854)	(102,539)
Cash flows from financing activities:
Net increase in deposits	43,732	49,362
Net increase in FHLB Advances		50,000
Net change in repurchase agreements		5,000
Proceeds from sale of preferred stock		6,500
Proceeds from sale of common stock	324	5,523
Net cash provided by financing activities	44,056	116,385
Net increase in cash and cash equivalents	6,537	18,299
Cash and cash equivalents at beginning of the period	71,836	58,970
Cash and cash equivalents at end of the period	78,373	77,269
Cash paid during the period for:
Interest	4,792	473
Income taxes	395
Noncash transactions:
Change in accumulated other comprehensive loss, net change in unrealized loss on debt securities available for sale, net of income taxes	252	(4,399)
Amortization of unrealized loss on debt securities transferred to held-to-maturity	2	11
Reduction stockholders’ equity due to adoption of Topic 326, net	(181)
Right-of use lease assets obtained in exchange for operating lease liabilities	315
Increase in other liabilities for stock-based compensation		$ 96

General

General	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
General	(1) General 100 Basis of Presentation Comprehensive Income (Loss) Accumulated other comprehensive loss consists of the following (in thousands): Schedule of Accumulated Other Comprehensive Loss June 30, December 31, 2023 2022 Unrealized loss on debt securities available for sale $ (7,452 ) $ (7,786 ) Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (16 ) (18 ) Income tax benefit 1,893 1,978 Accumulated other comprehensive loss $ (5,575 ) $ (5,826 ) Reclassifications Adoption of New Accounting Standards Financial Instruments – Credit Losses The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The adoption of CECL resulted in the recognition of $ 219,000 23,000 61,000 181,000 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued. Allowance for Credit Losses (“ACL”) ACL - Debt Securities Available for Sale. Changes in the ACL are recorded as credit loss expense (reversal). Losses are charged against the ACL when management believes the collectability of the debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Management excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on the debt securities available for sale and does not record an ACL on accrued interest receivable. As of June 30, 2023, the accrued interest receivable for debt securities available for sale recognized in accrued interest receivable was $ 169,000 ACL – Debt Securities Held to Maturity. ACL - Loans. Management uses systematic methodologies to determine its ACL for loans and certain off- balance sheet credit exposures. The ACL is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the loan portfolio. Management estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of the expected credit losses. Adjustments to historical loss information are made for the differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as changes in environmental conditions, such as changes in unemployment rates, property values, or other relevant factors. The Company’s estimate of its ACL involves a high degree of judgment; therefore, management’s process for determining expected credit losses may result in a range of expected credit losses. The Company’s ACL recorded in the balance sheet reflects management’s best estimate of expected credit losses. The Company recognizes in earnings the amount needed to adjust the ACL for management’s current estimate of expected credit losses. The Company’s ACL is calculated using collectively evaluated and individually evaluated loans. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued. The ACL is measured on a collective pool basis when similar risk characteristics exist. Loans with similar risk characteristics are grouped into homogenous segments for analysis. The Company’s ACL is measured based on FDIC call report codes as these types of loans exhibit similar risk characteristics. The loan portfolio is further segmented by loan product type, collateral codes, occupancy codes, property code or lien position and are representative of the manner in which the Company lends. The ACL for each segment is measured through the use of the average charge-off method. In accordance with the average charge-off method, an annual loss rate is applied to the amortized cost of an asset or pool of assets over the remaining expected life. The annual loss rate consists of historical and forecasted loss components. The forecasted component is applied using loss rates from historical periods that management believes are representative of economic conditions over a full economic cycle. For certain loan segments with limited credit loss histories, management determined the loss experience of peer banks provides the best basis for its assessment of expected credit losses. Other loan segments with more established loss histories utilize historical loss experience of the Company. Management determined that the appropriate historical loss period will begin in the first quarter of 2001 and continue through the most recent quarter, which represents a full peak to peak economic cycle. Additionally, management has determined that the Company’s reasonable and supportable forecast period is one year. Included in its systematic methodology to determine its ACL, management considers the need to qualitatively adjust model results for risk factors that are not considered within the Company’s loss estimation process but are nonetheless relevant in assessing the expected credit losses within our loan pools. These qualitative factors (“Q-Factors”) may increase or decrease management’s estimate of expected credit losses by a calculated percentage based upon the estimated level of risk. The various risks that may be considered in making Q-Factor adjustments include, among other things, the impact of 1) changes in lending policies and procedures, including changes in underwriting standards; 2) changes in international, national, regional and local economic conditions; 3) changes in the volume and severity of past due and nonaccrual status; 4) the effect of any concentrations of credit and changes in the levels of such concentrations; 5) changes in the experience, depth, and ability of lending management; 6) changes in nature and volume of the portfolio; 7) trends in underlying collateral values; 8) changes in the quality of the loan review system and 9) the effect of other external factors (i.e., competition, legal and regulatory requirements) on the level of estimated credit losses. The annual loss rates, as defined above, adjusted for Q-Factors, are applied to the amortized loan balances over each subsequent period and aggregated to arrive at the General ACL. The amortized loan balances are adjusted based on management’s estimate of loan repayments in future periods. When a loan no longer shares similar risk characteristics with its segment, the asset is assessed to determine whether it should be included in another segment or should be individually evaluated. Under ASC 326, the Company has adopted the collateral maintenance practical expedient to measure the ACL based on the fair value of collateral. Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining ACL. A Specific ACL is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral, which is adjusted for selling costs, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. Financial assets that have been individually evaluated can be returned to a pool for purposes of estimating the expected credit loss to the extent their credit profile improves and that the repayment terms were not considered to be unique to the asset. Management measures expected credit losses over the contractual term of a loan. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: ● Management has a reasonable expectation at the reporting date that a loan modification will be executed with an individual borrower. ● The extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued. The Company follows its nonaccrual policy by reversing contractual interest income in the consolidated statements of income when the Company places a loan on nonaccrual status. Therefore, management excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on the portfolio and does not record an ACL on accrued interest receivable. As of June 30, 2023, the accrued interest receivable for loans was $ 1,377,000 Also, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for credit losses. Such agencies may require the Company to recognize additions to the allowance for credit losses based on their judgments of information available to them at the time of their examination. Prior to the adoption of ASC 326, the allowance for loan losses represented management’s best estimate of inherent losses that had been incurred within the existing portfolio of loans. The allowance for loan losses included allowance allocations calculated in accordance with ASC 310, “Receivables” and allowance allocations calculated in accordance with ASC 450, “Contingencies.” ACL - Off -Balance Sheet Credit Exposures. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their expected lives. Management used its judgement to determinate funding rates. Management applied the funding rates, along with the loss factor rate determined for each pooled loan segment, to unfunded loan commitments, excluding unconditionally cancellable exposures and letters of credit, to arrive at the reserve for unfunded loan commitments. As of June 30, 2023, the liability recorded for expected credit losses on unfunded commitments was $ 236,000 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Debt Securities

Debt Securities	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023: Available for sale: SBA Pool Securities $ 775 $ 1 $ (17 ) $ 759 Collateralized mortgage obligations 139 — (15 ) 124 Taxable municipal securities 16,710 — (4,699 ) 12,011 Mortgage-backed securities 14,589 — (2,721 ) 11,868 Total $ 32,213 $ 1 $ (7,452 ) $ 24,762 Held-to-maturity: Collateralized mortgage obligations $ 415 $ — $ (39 ) $ 376 Mortgage-backed securities 30 — — 30 Total $ 445 $ — $ (39 ) $ 406 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At December 31, 2022: Available for sale: SBA Pool Securities $ 834 $ 1 $ (18 ) $ 817 Collateralized mortgage obligations 145 — (15 ) 130 Taxable municipal securities 16,729 — (5,109 ) 11,620 Mortgage-backed securities 15,180 — (2,645 ) 12,535 Total $ 32,888 $ 1 $ (7,787 ) $ 25,102 Held-to-maturity: Collateralized mortgage obligations $ 475 $ — $ (35 ) $ 440 Mortgage-backed securities 65 — (1 ) 64 Total $ 540 $ — $ (36 ) $ 504 There were no (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 Available for Sale with Gross Unrealized Losses, by Investment Category Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value At June 30, 2023: Available for Sale: SBA Pool Securities $ 17 $ 607 $ — $ — Collateralized mortgage obligation 15 124 — — Taxable municipal securities 4,699 12,012 — — Mortgage-backed securities 2,721 11,868 — — Total $ 7,452 $ 24,611 $ — $ — Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value At December 31, 2022: Available for Sale : SBA Pool Securities $ 18 $ 657 $ — $ — Collateralized mortgage obligation — — 15 130 Taxable municipal securities 5,109 11,620 — — Mortgage-backed securities 2,621 12,292 24 243 Total $ 7,748 $ 24,569 $ 39 $ 373 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (2) Debt Securities, Continued. At June 30, 2023 and December 31, 2022, the unrealized losses on forty-two forty Management evaluates debt securities for impairment where there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the financial condition and near-term prospects of the issuer including looking at default and delinquency rates, (2) the outlook for receiving the contractual cash flows of the investments, (3) the length of time and the extent to which the fair value has been less than cost, (4) the intent and ability to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value or for a debt security whether it is more-likely-than-not that the Company will be required to sell the debt security prior to recovering its fair value, (5) the anticipated outlook for changes in the general level of interest rates, (6) credit ratings, (7) third party guarantees, and (8) collateral values. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the results of reviews of the issuer’s financial condition, and the issuer’s anticipated ability to pay the contractual cash flows of the investments. The Company performed an analysis that determined that the mortgage-backed securities, collateralized mortgage obligations, and U.S. government securities, have a zero expected credit loss as they have the full faith and credit backing of the U.S. government or one of its agencies. Municipal bonds that do not have a zero expected credit loss are evaluated at least quarterly to determine whether there is a credit loss associated with a decline in fair value. At June 30, 2023 and December 31, 2022 all municipal securities were rated as investment grade. All debt securities in an unrealized loss position as of June 30, 2023 continue to perform as scheduled and the Company does not believe that there is a credit loss or that credit loss expense is necessary. Also, as part of our evaluation of our intent and ability to hold investments for a period of time sufficient to allow for any anticipated recovery in the market, the Company considers our investment strategy, cash flow needs, liquidity position, capital adequacy and interest rate risk position. The Company does not currently intend to sell the investments within the portfolio, and it is not more-likely-than-not that a sale will be required. Management continues to monitor all of our investments with a high degree of scrutiny. There can be no assurance that in a future period, conditions may exist at that time indicating that some or all of the Company’s securities may be sold that would require a charge to earnings as credit loss expense in such period. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Loans

Loans	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Loans	(3) Loans Schedule of Components of Loans June 30, December 31, 2023 2022 Residential real estate $ 60,273 $ 50,354 Multi-family real estate 69,518 69,555 Commercial real estate 321,814 310,695 Land and construction 27,019 17,286 Commercial 6,950 5,165 Consumer 40,686 30,323 Total loans 526,260 483,378 Deduct: Net deferred loan fees, and costs (786 ) (367 ) Allowance for credit losses (6,645 ) (5,793 ) Loans, net $ 518,829 $ 477,218 An analysis of the change in the allowance for credit losses follows (in thousands): Schedule of Changes in Allowance for Loan Losses Real Estate Real Estate Real Estate Construction Commercial Consumer Total Residential Multi-Family Commercial Land and Real Estate Real Estate Real Estate Construction Commercial Consumer Total Three Months Ended June 30, 2023: Balance March 31, 2023 $ 742 $ 1,077 $ 3,030 $ 533 $ 26 $ 945 $ 6,353 Credit loss expense (income) 141 (40 ) (228 ) 147 38 487 545 Charge-offs — — — — (16 ) (367 ) (383 ) Recoveries — — — — 87 43 130 Ending balance (June 30, 2023) $ 883 $ 1,037 $ 2,802 $ 680 $ 135 $ 1,108 $ 6,645 Three Months Ended June 30, 2022: Beginning balance $ 575 $ 549 $ 1,607 $ 79 $ 68 $ 530 $ 3,408 (Credit) provision for loan losses (61 ) 70 733 (8 ) 33 224 991 Charge-offs — — — — (90 ) (136 ) (226 ) Recoveries — — — — 56 14 70 Ending balance (June 30, 2022) $ 514 $ 619 $ 2,340 $ 71 $ 67 $ 632 $ 4,243 Six Months Ended June 30, 2023: Beginning balance Dec 31, 2022 $ 768 $ 748 $ 3,262 $ 173 $ 277 $ 565 $ 5,793 Additional allowance recognized due to adoption of Topic 326 33 327 (367 ) 278 (262 ) 209 218 Balance January 31, 2023 $ 801 $ 1,075 $ 2,895 $ 451 $ 15 $ 774 $ 6,011 Credit loss expense (income) 82 (38 ) (93 ) 229 75 1,056 1,311 Charge-offs — — — — (42 ) (804 ) (846 ) Recoveries — — — — 87 82 169 Ending balance (June 30, 2023) $ 883 $ 1,037 $ 2,802 $ 680 $ 135 $ 1,108 $ 6,645 Six Months Ended June 30, 2022: Beginning balance $ 482 $ 535 $ 1,535 $ 32 $ 74 $ 417 $ 3,075 Provision for loan losses 32 84 805 39 27 396 1,383 Charge-offs — — — — (90 ) (209 ) (299 ) Recoveries — — — — 56 28 84 Ending balance $ 514 $ 619 $ 2,340 $ 71 $ 67 $ 632 $ 4,243 OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Residential Multi-Family Commercial Real Real Real Land and Construction Commercial Consumer Total At December 31, 2022: Individually evaluated for impairment: Recorded investment $ — $ — $ — $ — $ — $ — $ — Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 50,354 $ 69,555 $ 310,695 $ 17,286 $ 5,165 $ 30,323 $ 483,378 Balance in allowance for loan losses $ 768 $ 748 $ 3,262 $ 173 $ 277 $ 565 $ 5,793 (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. 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 December 31, 2022: Residential real estate $ 50,354 $ — $ — $ — $ — $ 50,354 Multi-family real estate 69,555 — — — — 69,555 Commercial real estate 309,458 — 1,237 — — 310,695 Land and construction 17,286 — — — — 17,286 Commercial 5,165 — — — — 5,165 Consumer 30,323 — — — — 30,323 Total $ 482,141 $ — $ 1,237 $ — $ — $ 483,378 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 June 30, 2023: Residential real estate $ — $ — $ — $ — $ 60,273 $   — $ 60,273 Multi-family real estate 1,259 — — 1,259 68,259 — 69,518 Commercial real estate — — — — 321,814 — 321,814 Land and construction — — — — 27,019 — 27,019 Commercial — — — — 6,950 — 6,950 Consumer 347 158 — 505 40,181 — 40,686 Total $ 1,606 $ 158 $ — $ 1,764 $ 524,496 $ — $ 526,260 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, 2022: Residential real estate $ — $ — $ — $ — $ 50,354 $ — $ 50,354 Multi-family real estate — — — — 69,555 — 69,555 Commercial real estate — — — — 310,695 — 310,695 Land and construction — — — — 17,286 — 17,286 Commercial — — — — 5,165 — 5,165 Consumer 150 27 — 177 30,146 — 30,323 Total $ 150 $ 27 $ — $ 177 $ 483,201 $ — $ 483,378 The Company has not made any modifications of loans to borrowers experiencing financial difficulties during the six months ended June 30, 2023. No loans have been determined to be troubled debt restructurings (TDR’s) during the six-month period ended June 30, 2022. At June 30, 2023 and 2022, there were no loans modified and entered into as TDR’s within the past twelve months, that subsequently defaulted during the six-month periods ended June 30, 2022. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Term Loans Amortized Cost Basis by Origination Year Schedule of Amortized Cost Basis Term Loans Revolving Loans (Amortized Revolving Loans Converted to Term Loans (Amortized land and construction June 30, 2023 2022 2021 2020 2019 Prior Cost Basis) Cost Basis) Total Pass $ 6,406 $ 15,136 $ 2,324 $ 1,509 $ 1,644 $ - $ - $ - $ 27,019 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 6,406 $ 15,136 $ 2,324 $ 1,509 $ 1,644 $ - $ - $ - $ 27,019 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate Pass $ 7,350 $ 26,567 $ 9,853 $ 6,686 $ 4,097 $ 3,286 $ 2,434 $ - $ 60,273 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 7,350 $ 26,567 $ 9,853 $ 6,686 $ 4,097 $ 3,286 $ 2,434 $ - $ 60,273 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Term Loans Amortized Cost Basis by Origination Year Term Loans Revolving Loans (Amortized Revolving Loans Converted to Term Loans (Amortized Multi-family real estate June 30, 2023 2022 2021 2020 2019 Prior Cost Basis) Cost Basis) Total Pass $ 998 $ 29,396 $ 29,570 $ 6,185 $ 2,090 $ 1,279 $ - $ - $ 69,518 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 998 $ 29,396 $ 29,570 $ 6,185 $ 2,090 $ 1,279 $ - $ - $ 69,518 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate (CRE) Pass $ 20,590 $ 199,769 $ 55,017 $ 16,183 $ 12,815 $ 16,218 $ - $ - $ 320,592 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - 1,222 - - - 1,222 Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 20,590 $ 199,769 $ 55,017 $ 16,183 $ 14,037 $ 16,218 $ - $ - $ 321,814 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Pass $ 4,044 $ 1,401 $ 1,363 $ 85 $ 57 $ - $ - $ - $ 6,950 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 4,044 $ 1,401 $ 1,363 $ 85 $ 57 $ - $ - $ - $ 6,950 Current period Gross charge-offs $ (16 ) $ - $ - $ - $ - $ (26 ) $ - $ - $ (42 ) Consumer Pass $ 8,798 $ 9,359 $ 5,612 $ 250 $ 198 $ - $ 16,469 $ - $ 40,686 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 8,798 $ 9,359 $ 5,612 $ 250 $ 198 $ - $ 16,469 $ - $ 40,686 Current period Gross charge-offs $ (30 ) $ (505 ) $ (266 ) $ (3 ) $ - $ - $ - $ - $ (804 ) (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	(4) Earnings Per Share Schedule of Basic and Diluted Loss Per Share 2023 2022 2023 2022 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Weighted-average number of common shares outstanding used to calculate basic and diluted earnings per common share $ 7,250,219 $ 6,007,484 $ 7,226,953 $ 5,455,406

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
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 1,050,000 500,000 1,050,000 539,320 During the six-month period ended June 30, 2023, the Company issued 66,479 274,000 During the six-month period ended June 30, 2023, the Company issued 52,622 216,000 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
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 Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) At June 30, 2023: SBA Pool Securities $ 759 $ — $ 759 — Collateralized mortgage obligations 124 — 124 — Taxable municipal securities 12,011 — 12,011 — Mortgage-backed securities 11,868 — 11,868 — Total $ 24,762 — $ 24,762 — At December 31, 2022: SBA Pool Securities $ 817 $ — $ 817 — Collateralized mortgage obligations 130 — 130 — Taxable municipal securities 11,620 — 11,620 — Mortgage-backed securities 12,535 — 12,535 — Total $ 25,102 — $ 25,102 —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 At December 31, 2022 Carrying Amount Fair Value Level Carrying Amount Fair Value Level Financial assets: Cash and cash equivalents $ 78,373 $ 78,373 1 $ 71,836 $ 71,836 1 Debt securities available for sale 24,762 24,762 2 25,102 25,102 2 Debt securities held-to-maturity 445 406 2 540 504 2 Loans 518,829 512,031 3 477,218 476,566 3 Federal Home Loan Bank stock 717 717 3 600 600 3 Accrued interest receivable 1,559 1,559 3 1,444 1,444 3 Financial liabilities: Deposit liabilities 551,631 556,017 3 507,899 512,357 3 Federal Home Loan Bank advances 10,000 9,456 3 10,000 9,450 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	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 follows (in thousands): Schedule of Off-Balance Sheet Risks of Financial Instruments Commitments to extend credit $ 32,184 Unused lines of credit $ 56,272 Standby letters of credit $ 4,313

Regulatory Matters

Regulatory Matters	6 Months Ended
	Jun. 30, 2023
Regulatory Matters	(9) Regulatory Matters (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (9) Regulatory Matters, Continued. As of June 30, 2023 and December 31, 2022, 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 June 30, 2023: Tier 1 Capital to Total Assets 69,234 11.20 % 55,616 9.00 % As of December 31, 2022: Tier 1 Capital to Total Assets 66,291 11.29 % 52,865 9.00 % (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Series B Preferred Stock

Series B Preferred Stock	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Series B Preferred Stock	(10) Series B Preferred Stock 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 Stock 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. As of June 30, 2023 the Series B Preferred Stock is convertible into 11,113,889 25,000 The Series B Preferred Stock are subdivided into three categories. The Company is authorized to issue 760 260 500 Each series has substantially the same rights, preferences, powers, restrictions and limitations, except that the initial conversion price of the Series B-1 is $ 2.50 4.00 4.50 During the Annual Meeting of Shareholders held on June 27, 2023, the Company’s shareholders approved the issuance of up to 11,113,889

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	(11) Contingencies During the three-months ended June 30, 2023 the Company incurred a one-time expense relate to the settlement of a foreclosure litigation in the amount of $ 375,000

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Comprehensive Income (Loss)	Comprehensive Income (Loss) Accumulated other comprehensive loss consists of the following (in thousands): Schedule of Accumulated Other Comprehensive Loss June 30, December 31, 2023 2022 Unrealized loss on debt securities available for sale $ (7,452 ) $ (7,786 ) Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (16 ) (18 ) Income tax benefit 1,893 1,978 Accumulated other comprehensive loss $ (5,575 ) $ (5,826 )
Reclassifications	Reclassifications
Adoption of New Accounting Standards	Adoption of New Accounting Standards Financial Instruments – Credit Losses The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The adoption of CECL resulted in the recognition of $ 219,000 23,000 61,000 181,000 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued.
Allowance for Credit Losses (“ACL”)	Allowance for Credit Losses (“ACL”) ACL - Debt Securities Available for Sale. Changes in the ACL are recorded as credit loss expense (reversal). Losses are charged against the ACL when management believes the collectability of the debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Management excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on the debt securities available for sale and does not record an ACL on accrued interest receivable. As of June 30, 2023, the accrued interest receivable for debt securities available for sale recognized in accrued interest receivable was $ 169,000 ACL – Debt Securities Held to Maturity. ACL - Loans. Management uses systematic methodologies to determine its ACL for loans and certain off- balance sheet credit exposures. The ACL is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the loan portfolio. Management estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of the expected credit losses. Adjustments to historical loss information are made for the differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as changes in environmental conditions, such as changes in unemployment rates, property values, or other relevant factors. The Company’s estimate of its ACL involves a high degree of judgment; therefore, management’s process for determining expected credit losses may result in a range of expected credit losses. The Company’s ACL recorded in the balance sheet reflects management’s best estimate of expected credit losses. The Company recognizes in earnings the amount needed to adjust the ACL for management’s current estimate of expected credit losses. The Company’s ACL is calculated using collectively evaluated and individually evaluated loans. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued. The ACL is measured on a collective pool basis when similar risk characteristics exist. Loans with similar risk characteristics are grouped into homogenous segments for analysis. The Company’s ACL is measured based on FDIC call report codes as these types of loans exhibit similar risk characteristics. The loan portfolio is further segmented by loan product type, collateral codes, occupancy codes, property code or lien position and are representative of the manner in which the Company lends. The ACL for each segment is measured through the use of the average charge-off method. In accordance with the average charge-off method, an annual loss rate is applied to the amortized cost of an asset or pool of assets over the remaining expected life. The annual loss rate consists of historical and forecasted loss components. The forecasted component is applied using loss rates from historical periods that management believes are representative of economic conditions over a full economic cycle. For certain loan segments with limited credit loss histories, management determined the loss experience of peer banks provides the best basis for its assessment of expected credit losses. Other loan segments with more established loss histories utilize historical loss experience of the Company. Management determined that the appropriate historical loss period will begin in the first quarter of 2001 and continue through the most recent quarter, which represents a full peak to peak economic cycle. Additionally, management has determined that the Company’s reasonable and supportable forecast period is one year. Included in its systematic methodology to determine its ACL, management considers the need to qualitatively adjust model results for risk factors that are not considered within the Company’s loss estimation process but are nonetheless relevant in assessing the expected credit losses within our loan pools. These qualitative factors (“Q-Factors”) may increase or decrease management’s estimate of expected credit losses by a calculated percentage based upon the estimated level of risk. The various risks that may be considered in making Q-Factor adjustments include, among other things, the impact of 1) changes in lending policies and procedures, including changes in underwriting standards; 2) changes in international, national, regional and local economic conditions; 3) changes in the volume and severity of past due and nonaccrual status; 4) the effect of any concentrations of credit and changes in the levels of such concentrations; 5) changes in the experience, depth, and ability of lending management; 6) changes in nature and volume of the portfolio; 7) trends in underlying collateral values; 8) changes in the quality of the loan review system and 9) the effect of other external factors (i.e., competition, legal and regulatory requirements) on the level of estimated credit losses. The annual loss rates, as defined above, adjusted for Q-Factors, are applied to the amortized loan balances over each subsequent period and aggregated to arrive at the General ACL. The amortized loan balances are adjusted based on management’s estimate of loan repayments in future periods. When a loan no longer shares similar risk characteristics with its segment, the asset is assessed to determine whether it should be included in another segment or should be individually evaluated. Under ASC 326, the Company has adopted the collateral maintenance practical expedient to measure the ACL based on the fair value of collateral. Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining ACL. A Specific ACL is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral, which is adjusted for selling costs, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. Financial assets that have been individually evaluated can be returned to a pool for purposes of estimating the expected credit loss to the extent their credit profile improves and that the repayment terms were not considered to be unique to the asset. Management measures expected credit losses over the contractual term of a loan. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: ● Management has a reasonable expectation at the reporting date that a loan modification will be executed with an individual borrower. ● The extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (1) General, Continued. The Company follows its nonaccrual policy by reversing contractual interest income in the consolidated statements of income when the Company places a loan on nonaccrual status. Therefore, management excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on the portfolio and does not record an ACL on accrued interest receivable. As of June 30, 2023, the accrued interest receivable for loans was $ 1,377,000 Also, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for credit losses. Such agencies may require the Company to recognize additions to the allowance for credit losses based on their judgments of information available to them at the time of their examination. Prior to the adoption of ASC 326, the allowance for loan losses represented management’s best estimate of inherent losses that had been incurred within the existing portfolio of loans. The allowance for loan losses included allowance allocations calculated in accordance with ASC 310, “Receivables” and allowance allocations calculated in accordance with ASC 450, “Contingencies.” ACL - Off -Balance Sheet Credit Exposures. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their expected lives. Management used its judgement to determinate funding rates. Management applied the funding rates, along with the loss factor rate determined for each pooled loan segment, to unfunded loan commitments, excluding unconditionally cancellable exposures and letters of credit, to arrive at the reserve for unfunded loan commitments. As of June 30, 2023, the liability recorded for expected credit losses on unfunded commitments was $ 236,000

General (Tables)

General (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, December 31, 2023 2022 Unrealized loss on debt securities available for sale $ (7,452 ) $ (7,786 ) Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity (16 ) (18 ) Income tax benefit 1,893 1,978 Accumulated other comprehensive loss $ (5,575 ) $ (5,826 )

Debt Securities (Tables)

Debt Securities (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023: Available for sale: SBA Pool Securities $ 775 $ 1 $ (17 ) $ 759 Collateralized mortgage obligations 139 — (15 ) 124 Taxable municipal securities 16,710 — (4,699 ) 12,011 Mortgage-backed securities 14,589 — (2,721 ) 11,868 Total $ 32,213 $ 1 $ (7,452 ) $ 24,762 Held-to-maturity: Collateralized mortgage obligations $ 415 $ — $ (39 ) $ 376 Mortgage-backed securities 30 — — 30 Total $ 445 $ — $ (39 ) $ 406 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value At December 31, 2022: Available for sale: SBA Pool Securities $ 834 $ 1 $ (18 ) $ 817 Collateralized mortgage obligations 145 — (15 ) 130 Taxable municipal securities 16,729 — (5,109 ) 11,620 Mortgage-backed securities 15,180 — (2,645 ) 12,535 Total $ 32,888 $ 1 $ (7,787 ) $ 25,102 Held-to-maturity: Collateralized mortgage obligations $ 475 $ — $ (35 ) $ 440 Mortgage-backed securities 65 — (1 ) 64 Total $ 540 $ — $ (36 ) $ 504
Schedule of Debt Securities Available for Sale 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 Available for Sale with Gross Unrealized Losses, by Investment Category Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value At June 30, 2023: Available for Sale: SBA Pool Securities $ 17 $ 607 $ — $ — Collateralized mortgage obligation 15 124 — — Taxable municipal securities 4,699 12,012 — — Mortgage-backed securities 2,721 11,868 — — Total $ 7,452 $ 24,611 $ — $ — Over Twelve Months Less Than Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value At December 31, 2022: Available for Sale : SBA Pool Securities $ 18 $ 657 $ — $ — Collateralized mortgage obligation — — 15 130 Taxable municipal securities 5,109 11,620 — — Mortgage-backed securities 2,621 12,292 24 243 Total $ 7,748 $ 24,569 $ 39 $ 373 (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (2) Debt Securities, Continued. At June 30, 2023 and December 31, 2022, the unrealized losses on forty-two forty Management evaluates debt securities for impairment where there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the financial condition and near-term prospects of the issuer including looking at default and delinquency rates, (2) the outlook for receiving the contractual cash flows of the investments, (3) the length of time and the extent to which the fair value has been less than cost, (4) the intent and ability to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value or for a debt security whether it is more-likely-than-not that the Company will be required to sell the debt security prior to recovering its fair value, (5) the anticipated outlook for changes in the general level of interest rates, (6) credit ratings, (7) third party guarantees, and (8) collateral values. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the results of reviews of the issuer’s financial condition, and the issuer’s anticipated ability to pay the contractual cash flows of the investments. The Company performed an analysis that determined that the mortgage-backed securities, collateralized mortgage obligations, and U.S. government securities, have a zero expected credit loss as they have the full faith and credit backing of the U.S. government or one of its agencies. Municipal bonds that do not have a zero expected credit loss are evaluated at least quarterly to determine whether there is a credit loss associated with a decline in fair value. At June 30, 2023 and December 31, 2022 all municipal securities were rated as investment grade. All debt securities in an unrealized loss position as of June 30, 2023 continue to perform as scheduled and the Company does not believe that there is a credit loss or that credit loss expense is necessary. Also, as part of our evaluation of our intent and ability to hold investments for a period of time sufficient to allow for any anticipated recovery in the market, the Company considers our investment strategy, cash flow needs, liquidity position, capital adequacy and interest rate risk position. The Company does not currently intend to sell the investments within the portfolio, and it is not more-likely-than-not that a sale will be required. Management continues to monitor all of our investments with a high degree of scrutiny. There can be no assurance that in a future period, conditions may exist at that time indicating that some or all of the Company’s securities may be sold that would require a charge to earnings as credit loss expense in such period. (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited)

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Components of Loans	Schedule of Components of Loans June 30, December 31, 2023 2022 Residential real estate $ 60,273 $ 50,354 Multi-family real estate 69,518 69,555 Commercial real estate 321,814 310,695 Land and construction 27,019 17,286 Commercial 6,950 5,165 Consumer 40,686 30,323 Total loans 526,260 483,378 Deduct: Net deferred loan fees, and costs (786 ) (367 ) Allowance for credit losses (6,645 ) (5,793 ) Loans, net $ 518,829 $ 477,218
Schedule of Changes in Allowance for Loan Losses	An analysis of the change in the allowance for credit losses follows (in thousands): Schedule of Changes in Allowance for Loan Losses Real Estate Real Estate Real Estate Construction Commercial Consumer Total Residential Multi-Family Commercial Land and Real Estate Real Estate Real Estate Construction Commercial Consumer Total Three Months Ended June 30, 2023: Balance March 31, 2023 $ 742 $ 1,077 $ 3,030 $ 533 $ 26 $ 945 $ 6,353 Credit loss expense (income) 141 (40 ) (228 ) 147 38 487 545 Charge-offs — — — — (16 ) (367 ) (383 ) Recoveries — — — — 87 43 130 Ending balance (June 30, 2023) $ 883 $ 1,037 $ 2,802 $ 680 $ 135 $ 1,108 $ 6,645 Three Months Ended June 30, 2022: Beginning balance $ 575 $ 549 $ 1,607 $ 79 $ 68 $ 530 $ 3,408 (Credit) provision for loan losses (61 ) 70 733 (8 ) 33 224 991 Charge-offs — — — — (90 ) (136 ) (226 ) Recoveries — — — — 56 14 70 Ending balance (June 30, 2022) $ 514 $ 619 $ 2,340 $ 71 $ 67 $ 632 $ 4,243 Six Months Ended June 30, 2023: Beginning balance Dec 31, 2022 $ 768 $ 748 $ 3,262 $ 173 $ 277 $ 565 $ 5,793 Additional allowance recognized due to adoption of Topic 326 33 327 (367 ) 278 (262 ) 209 218 Balance January 31, 2023 $ 801 $ 1,075 $ 2,895 $ 451 $ 15 $ 774 $ 6,011 Credit loss expense (income) 82 (38 ) (93 ) 229 75 1,056 1,311 Charge-offs — — — — (42 ) (804 ) (846 ) Recoveries — — — — 87 82 169 Ending balance (June 30, 2023) $ 883 $ 1,037 $ 2,802 $ 680 $ 135 $ 1,108 $ 6,645 Six Months Ended June 30, 2022: Beginning balance $ 482 $ 535 $ 1,535 $ 32 $ 74 $ 417 $ 3,075 Provision for loan losses 32 84 805 39 27 396 1,383 Charge-offs — — — — (90 ) (209 ) (299 ) Recoveries — — — — 56 28 84 Ending balance $ 514 $ 619 $ 2,340 $ 71 $ 67 $ 632 $ 4,243 OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Residential Multi-Family Commercial Real Real Real Land and Construction Commercial Consumer Total At December 31, 2022: Individually evaluated for impairment: Recorded investment $ — $ — $ — $ — $ — $ — $ — Balance in allowance for loan losses $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment: Recorded investment $ 50,354 $ 69,555 $ 310,695 $ 17,286 $ 5,165 $ 30,323 $ 483,378 Balance in allowance for loan losses $ 768 $ 748 $ 3,262 $ 173 $ 277 $ 565 $ 5,793 (continued)
Schedule of Loans by Credit Quality	Schedule of Loans by Credit Quality Pass OLEM (Other Loans Especially Mentioned) Sub- Standard Doubtful Loss Total At December 31, 2022: Residential real estate $ 50,354 $ — $ — $ — $ — $ 50,354 Multi-family real estate 69,555 — — — — 69,555 Commercial real estate 309,458 — 1,237 — — 310,695 Land and construction 17,286 — — — — 17,286 Commercial 5,165 — — — — 5,165 Consumer 30,323 — — — — 30,323 Total $ 482,141 $ — $ 1,237 $ — $ — $ 483,378
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 June 30, 2023: Residential real estate $ — $ — $ — $ — $ 60,273 $   — $ 60,273 Multi-family real estate 1,259 — — 1,259 68,259 — 69,518 Commercial real estate — — — — 321,814 — 321,814 Land and construction — — — — 27,019 — 27,019 Commercial — — — — 6,950 — 6,950 Consumer 347 158 — 505 40,181 — 40,686 Total $ 1,606 $ 158 $ — $ 1,764 $ 524,496 $ — $ 526,260 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, 2022: Residential real estate $ — $ — $ — $ — $ 50,354 $ — $ 50,354 Multi-family real estate — — — — 69,555 — 69,555 Commercial real estate — — — — 310,695 — 310,695 Land and construction — — — — 17,286 — 17,286 Commercial — — — — 5,165 — 5,165 Consumer 150 27 — 177 30,146 — 30,323 Total $ 150 $ 27 $ — $ 177 $ 483,201 $ — $ 483,378
Schedule of Amortized Cost Basis	Schedule of Amortized Cost Basis Term Loans Revolving Loans (Amortized Revolving Loans Converted to Term Loans (Amortized land and construction June 30, 2023 2022 2021 2020 2019 Prior Cost Basis) Cost Basis) Total Pass $ 6,406 $ 15,136 $ 2,324 $ 1,509 $ 1,644 $ - $ - $ - $ 27,019 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 6,406 $ 15,136 $ 2,324 $ 1,509 $ 1,644 $ - $ - $ - $ 27,019 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential real estate Pass $ 7,350 $ 26,567 $ 9,853 $ 6,686 $ 4,097 $ 3,286 $ 2,434 $ - $ 60,273 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 7,350 $ 26,567 $ 9,853 $ 6,686 $ 4,097 $ 3,286 $ 2,434 $ - $ 60,273 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - (continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Condensed Consolidated Financial Statements (Unaudited) (3) Loans, Continued. Term Loans Amortized Cost Basis by Origination Year Term Loans Revolving Loans (Amortized Revolving Loans Converted to Term Loans (Amortized Multi-family real estate June 30, 2023 2022 2021 2020 2019 Prior Cost Basis) Cost Basis) Total Pass $ 998 $ 29,396 $ 29,570 $ 6,185 $ 2,090 $ 1,279 $ - $ - $ 69,518 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 998 $ 29,396 $ 29,570 $ 6,185 $ 2,090 $ 1,279 $ - $ - $ 69,518 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate (CRE) Pass $ 20,590 $ 199,769 $ 55,017 $ 16,183 $ 12,815 $ 16,218 $ - $ - $ 320,592 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - 1,222 - - - 1,222 Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 20,590 $ 199,769 $ 55,017 $ 16,183 $ 14,037 $ 16,218 $ - $ - $ 321,814 Current period Gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Pass $ 4,044 $ 1,401 $ 1,363 $ 85 $ 57 $ - $ - $ - $ 6,950 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 4,044 $ 1,401 $ 1,363 $ 85 $ 57 $ - $ - $ - $ 6,950 Current period Gross charge-offs $ (16 ) $ - $ - $ - $ - $ (26 ) $ - $ - $ (42 ) Consumer Pass $ 8,798 $ 9,359 $ 5,612 $ 250 $ 198 $ - $ 16,469 $ - $ 40,686 OLEM (Other Loans Especially Mentioned) - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Loss - - - - - - - - - Subtotal loans $ 8,798 $ 9,359 $ 5,612 $ 250 $ 198 $ - $ 16,469 $ - $ 40,686 Current period Gross charge-offs $ (30 ) $ (505 ) $ (266 ) $ (3 ) $ - $ - $ - $ - $ (804 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share	Schedule of Basic and Diluted Loss Per Share 2023 2022 2023 2022 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Weighted-average number of common shares outstanding used to calculate basic and diluted earnings per common share $ 7,250,219 $ 6,007,484 $ 7,226,953 $ 5,455,406

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
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 Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) At June 30, 2023: SBA Pool Securities $ 759 $ — $ 759 — Collateralized mortgage obligations 124 — 124 — Taxable municipal securities 12,011 — 12,011 — Mortgage-backed securities 11,868 — 11,868 — Total $ 24,762 — $ 24,762 — At December 31, 2022: SBA Pool Securities $ 817 $ — $ 817 — Collateralized mortgage obligations 130 — 130 — Taxable municipal securities 11,620 — 11,620 — Mortgage-backed securities 12,535 — 12,535 — Total $ 25,102 — $ 25,102 —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Schedule of Estimated Fair Value of Financial Instruments	Schedule of Estimated Fair Value of Financial Instruments At June 30, 2023 At December 31, 2022 Carrying Amount Fair Value Level Carrying Amount Fair Value Level Financial assets: Cash and cash equivalents $ 78,373 $ 78,373 1 $ 71,836 $ 71,836 1 Debt securities available for sale 24,762 24,762 2 25,102 25,102 2 Debt securities held-to-maturity 445 406 2 540 504 2 Loans 518,829 512,031 3 477,218 476,566 3 Federal Home Loan Bank stock 717 717 3 600 600 3 Accrued interest receivable 1,559 1,559 3 1,444 1,444 3 Financial liabilities: Deposit liabilities 551,631 556,017 3 507,899 512,357 3 Federal Home Loan Bank advances 10,000 9,456 3 10,000 9,450 3 Off-balance sheet financial instruments — — 3 — — 3

Off- Balance Sheet Financial _2

Off- Balance Sheet Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
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 $ 32,184 Unused lines of credit $ 56,272 Standby letters of credit $ 4,313

Regulatory Matters (Tables)

Regulatory Matters (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023: Tier 1 Capital to Total Assets 69,234 11.20 % 55,616 9.00 % As of December 31, 2022: Tier 1 Capital to Total Assets 66,291 11.29 % 52,865 9.00 %

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Unrealized loss on debt securities available for sale	$ (7,452)	$ (7,786)
Unamortized portion of unrealized loss related to debt securities available for sale transferred to securities held-to-maturity	(16)	(18)
Income tax benefit	1,893	1,978
Accumulated other comprehensive loss	$ (5,575)	$ (5,826)

General (Details Narrative)

General (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Retained earnings	$ (19,789,000)	$ (22,073,000)
Accrued interest receivable for debt securities available for sale	169,000
Accrued interest receivable	1,559,000	1,444,000
Liability for credit losses on unfunded commitments
Unfunded Loan Commitment [Member]
Liability for credit losses on unfunded commitments	236,000
Loan [Member]
Accrued interest receivable	1,377,000
Accounting Standards Update 2016-13 [Member]
Allowance for credit losses	219,000
Liability for unfunded commitments	23,000
Deferred income tax assets, net	61,000
Retained earnings	$ 181,000
Optimum Bank [Member]
Equity method investment, ownership percentage	100%

Schedule of Amortized Cost and

Schedule of Amortized Cost and Approximate Fair Values of Debt Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	$ 32,213	$ 32,888
Available for sale, gross unrealized gains	1	1
Available for sale, gross unrealized losses	(7,452)	(7,787)
Available for sale, fair value	24,762	25,102
Held-to-maturity, amortized cost	445	540
Held-to-maturity, gross unrealized gains
Held-to-maturity, gross unrealized losses	(39)	(36)
Held-to-maturity, fair value	406	504
Taxable Municipal Bonds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, gross unrealized gains
Taxable Municipal Bonds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	16,710	16,729
Available for sale, gross unrealized losses	(4,699)	(5,109)
Available for sale, fair value	12,011	11,620
SBA Pool Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	775	834
Available for sale, gross unrealized gains	1	1
Available for sale, gross unrealized losses	(17)	(18)
Available for sale, fair value	759	817
Collateralized Mortgage Obligations [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	139	145
Available for sale, gross unrealized gains
Available for sale, gross unrealized losses	(15)	(15)
Available for sale, fair value	124	130
Held-to-maturity, amortized cost	415	475
Held-to-maturity, gross unrealized gains
Held-to-maturity, gross unrealized losses	(39)	(35)
Held-to-maturity, fair value	376	440
Collateralized Mortgage-Backed Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for sale, amortized cost	14,589	15,180
Available for sale, gross unrealized gains
Available for sale, gross unrealized losses	(2,721)	(2,645)
Available for sale, fair value	11,868	12,535
Held-to-maturity, amortized cost	30	65
Held-to-maturity, gross unrealized gains
Held-to-maturity, gross unrealized losses		(1)
Held-to-maturity, fair value	$ 30	$ 64

Schedule of Debt Securities Ava

Schedule of Debt Securities Available for Sale with Gross Unrealized Losses, by Investment Category (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	$ 7,452	$ 7,748
Available for Sale, Securities Position Over 12 Months, Fair Value	24,611	24,569
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses		39
Available for Sale, Securities Position Less than 12 Month, Fair Value		373
Taxable Municipal Bonds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	4,699	5,109
Available for Sale, Securities Position Over 12 Months, Fair Value	12,012	11,620
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses
Available for Sale, Securities Position Less than 12 Month, Fair Value
SBA Pool Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	17	18
Available for Sale, Securities Position Over 12 Months, Fair Value	607	657
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	15
Available for Sale, Securities Position Over 12 Months, Fair Value	124
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses		15
Available for Sale, Securities Position Less than 12 Month, Fair Value		130
Collateralized Mortgage-Backed Securities [Member]
Impairment Effects on Earnings Per Share [Line Items]
Available for Sale, Securities Position Over 12 Months, Gross unrealized Losses	2,721	2,621
Available for Sale, Securities Position Over 12 Months, Fair Value	11,868	12,292
Available for Sale, Securities Position Less than 12 Month, Gross unrealized Losses		24
Available for Sale, Securities Position Less than 12 Month, Fair Value		$ 243

Debt Securities (Details Narrat

Debt Securities (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Debt Securities
Available for sale debt securities	$ 0		$ 0
Debt securities in unrealized loss	forty-two	forty

Schedule of Components of Loans

Schedule of Components of Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total loans	$ 526,260		$ 483,378
Net deferred loan fees, and costs	(786)		(367)
Allowance for credit losses	(6,645)	$ (6,353)	(5,793)	$ (4,243)	$ (3,408)	$ (3,075)
Loans, net	518,829		477,218
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	60,273		50,354
Allowance for credit losses	(883)	(742)	(768)	(514)	(575)	(482)
Multi Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Total loans	69,518		69,555
Allowance for credit losses	(1,037)	(1,077)	(748)	(619)	(549)	(535)
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	321,814		310,695
Allowance for credit losses	(2,802)	(3,030)	(3,262)	(2,340)	(1,607)	(1,535)
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Total loans	27,019		17,286
Allowance for credit losses	(680)	(533)	(173)	(71)	(79)	(32)
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	6,950		5,165
Allowance for credit losses	(135)	(26)	(277)	(67)	(68)	(74)
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	40,686		30,323
Allowance for credit losses	$ (1,108)	$ (945)	$ (565)	$ (632)	$ (530)	$ (417)

Schedule of Changes in Allowanc

Schedule of Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Beginning balance	$ 6,353	$ 3,408	$ 5,793	$ 3,075
Credit loss expense (income)	545		1,311
Charge-offs	(383)	(226)	(846)	(299)
Recoveries	130	70	169	84
Ending balance	6,645	4,243	6,645	4,243
Provision for loan losses		991		1,383
Additional allowance recognized due to adoption of Topic 326			218
Balance January 31, 2023			6,011
Recorded investment
Balance in allowance for loan losses
Recorded investment					483,378
Balance in allowance for loan losses					5,793
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	742	575	768	482
Credit loss expense (income)	141		82
Charge-offs
Recoveries
Ending balance	883	514	883	514
Provision for loan losses		(61)		32
Additional allowance recognized due to adoption of Topic 326			33
Balance January 31, 2023			801
Recorded investment
Balance in allowance for loan losses
Recorded investment					50,354
Balance in allowance for loan losses					768
Multi Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	1,077	549	748	535
Credit loss expense (income)	(40)		(38)
Charge-offs
Recoveries
Ending balance	1,037	619	1,037	619
Provision for loan losses		70		84
Additional allowance recognized due to adoption of Topic 326			327
Balance January 31, 2023			1,075
Recorded investment
Balance in allowance for loan losses
Recorded investment					69,555
Balance in allowance for loan losses					748
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	3,030	1,607	3,262	1,535
Credit loss expense (income)	(228)		(93)
Charge-offs
Recoveries
Ending balance	2,802	2,340	2,802	2,340
Provision for loan losses		733		805
Additional allowance recognized due to adoption of Topic 326			(367)
Balance January 31, 2023			2,895
Recorded investment
Balance in allowance for loan losses
Recorded investment					310,695
Balance in allowance for loan losses					3,262
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	533	79	173	32
Credit loss expense (income)	147		229
Charge-offs
Recoveries
Ending balance	680	71	680	71
Provision for loan losses		(8)		39
Additional allowance recognized due to adoption of Topic 326			278
Balance January 31, 2023			451
Recorded investment
Balance in allowance for loan losses
Recorded investment					17,286
Balance in allowance for loan losses					173
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	26	68	277	74
Credit loss expense (income)	38		75
Charge-offs	(16)	(90)	(42)	(90)
Recoveries	87	56	87	56
Ending balance	135	67	135	67
Provision for loan losses		33		27
Additional allowance recognized due to adoption of Topic 326			(262)
Balance January 31, 2023			15
Recorded investment
Balance in allowance for loan losses
Recorded investment					5,165
Balance in allowance for loan losses					277
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Beginning balance	945	530	565	417
Credit loss expense (income)	487		1,056
Charge-offs	(367)	(136)	(804)	(209)
Recoveries	43	14	82	28
Ending balance	$ 1,108	632	1,108	632
Provision for loan losses		$ 224		$ 396
Additional allowance recognized due to adoption of Topic 326			209
Balance January 31, 2023			$ 774
Recorded investment
Balance in allowance for loan losses
Recorded investment					30,323
Balance in allowance for loan losses					$ 565

Schedule of Loans by Credit Qua

Schedule of Loans by Credit Quality (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	$ 526,260	$ 483,378
Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross		482,141
Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross		1,237
Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	60,273	50,354
Residential Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	60,273	50,354
Residential Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Residential Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Residential Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Residential Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Multi Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	69,518	69,555
Multi Family Real Estate [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	69,518	69,555
Multi Family Real Estate [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Multi Family Real Estate [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Multi Family Real Estate [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Multi Family Real Estate [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	321,814	310,695
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	320,592	309,458
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	1,222	1,237
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Real Estate Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	27,019	17,286
Construction Loans [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	27,019	17,286
Construction Loans [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Construction Loans [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Construction Loans [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Construction Loans [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	6,950	5,165
Commercial Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	6,950	5,165
Commercial Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Commercial Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	40,686	30,323
Consumer Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross	40,686	30,323
Consumer Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Consumer Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Consumer Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross
Consumer Portfolio Segment [Member] | Loss [Member]
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Gross

Schedule of Age Analysis of Pas

Schedule of Age Analysis of Past-due Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	526,260	483,378
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,606	150
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	158	27
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,764	177
Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	524,496	483,201
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	60,273	50,354
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	60,273	50,354
Multi Family Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	69,518	69,555
Multi Family Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,259
Multi Family Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Multi Family Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Multi Family Real Estate [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,259
Multi Family Real Estate [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	68,259	69,555
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	321,814	310,695
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	321,814	310,695
Construction Loans [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	27,019	17,286
Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Construction Loans [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Construction Loans [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	27,019	17,286
Commercial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	6,950	5,165
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,950	5,165
Consumer Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual
Loans and Leases Receivable, Gross	40,686	30,323
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	347	150
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	158	27
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	505	177
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 40,181	$ 30,146

Schedule of Amortized Cost Basi

Schedule of Amortized Cost Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal loans	$ 526,260	$ 483,378
Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	6,406
2022	15,136
2021	2,324
2020	1,509
2019	1,644
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	27,019	17,286
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	20,590
2022	199,769
2021	55,017
2020	16,183
2019	14,037
Prior	16,218
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	321,814	310,695
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Current period Gross write-offs
Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	7,350
2022	26,567
2021	9,853
2020	6,686
2019	4,097
Prior	3,286
Revolving Loans (Amortized Cost Basis)	2,434
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	60,273	50,354
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Current period Gross write-offs
Multi Family Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	998
2022	29,396
2021	29,570
2020	6,185
2019	2,090
Prior	1,279
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	69,518	69,555
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Current period Gross write-offs
Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	4,044
2022	1,401
2021	1,363
2020	85
2019	57
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	6,950	5,165
2023	(16)
2022
2021
2020
2019
Prior	(26)
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Current period Gross write-offs	(42)
Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	8,798
2022	9,359
2021	5,612
2020	250
2019	198
Prior
Revolving Loans (Amortized Cost Basis)	16,469
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	40,686	30,323
2023	(30)
2022	(505)
2021	(266)
2020	(3)
2019
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Current period Gross write-offs	(804)
Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal loans		482,141
Pass [Member] | Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	6,406
2022	15,136
2021	2,324
2020	1,509
2019	1,644
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	27,019	17,286
Pass [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	20,590
2022	199,769
2021	55,017
2020	16,183
2019	12,815
Prior	16,218
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	320,592	309,458
Pass [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	7,350
2022	26,567
2021	9,853
2020	6,686
2019	4,097
Prior	3,286
Revolving Loans (Amortized Cost Basis)	2,434
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	60,273	50,354
Pass [Member] | Multi Family Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	998
2022	29,396
2021	29,570
2020	6,185
2019	2,090
Prior	1,279
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	69,518	69,555
Pass [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	4,044
2022	1,401
2021	1,363
2020	85
2019	57
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	6,950	5,165
Pass [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023	8,798
2022	9,359
2021	5,612
2020	250
2019	198
Prior
Revolving Loans (Amortized Cost Basis)	16,469
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	40,686	30,323
Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal loans
Special Mention [Member] | Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Special Mention [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Special Mention [Member] | Multi Family Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Special Mention [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Special Mention [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal loans		1,237
Substandard [Member] | Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019	1,222
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans	1,222	1,237
Substandard [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Substandard [Member] | Multi Family Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Substandard [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Substandard [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal loans
Doubtful [Member] | Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Doubtful [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Doubtful [Member] | Multi Family Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Doubtful [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Doubtful [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Loss [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal loans
Loss [Member] | Construction Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Loss [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Loss [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Loss [Member] | Multi Family Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Loss [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans
Loss [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023
2022
2021
2020
2019
Prior
Revolving Loans (Amortized Cost Basis)
Revolving Loans Converted to Term Loans (Amortized Cost Basis)
Subtotal loans

Schedule of Basic and Diluted L

Schedule of Basic and Diluted Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Weighted-average number of common shares outstanding used to calculate basic and diluted earnings per common share	7,250,219	6,007,484	7,226,953	5,455,406

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative)	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares, issued for services	66,479
Stock based compensation | $	$ 274,000
Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares, issued for services	52,622
Stock based compensation | $	$ 216,000
2018 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, issued	1,050,000
Stock options available for grant	539,320
2018 Equity Incentive Plan [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, issued	500,000

Schedule of Debt Securities A_2

Schedule of Debt Securities Available-for-sale Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	$ 24,762	$ 25,102
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	24,762	25,102
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	24,762	25,102
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale
SBA Pool Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	759	817
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]
Debt Securities, Available-for-Sale
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]
Debt Securities, Available-for-Sale	759	817
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]
Debt Securities, Available-for-Sale
Collateralized Mortgage Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	124	130
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]
Debt Securities, Available-for-Sale
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]
Debt Securities, Available-for-Sale	124	130
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]
Debt Securities, Available-for-Sale
Taxable Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	12,011	11,620
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]
Debt Securities, Available-for-Sale
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]
Debt Securities, Available-for-Sale	12,011	11,620
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]
Debt Securities, Available-for-Sale
Collateralized Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	11,868	12,535
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]
Debt Securities, Available-for-Sale
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]
Debt Securities, Available-for-Sale	11,868	12,535
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]
Debt Securities, Available-for-Sale

Schedule of Estimated Fair Valu

Schedule of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Platform Operator, Crypto-Asset [Line Items]
Cash and cash equivalents	$ 78,373	$ 71,836
Debt securities available for sale	24,762	25,102
Debt securities held-to-maturity	445	540
Loans	518,829	477,218
Federal home loan bank stock	717	600
Accrued interest receivable	1,559	1,444
Deposit liabilities	551,631	507,899
Federal home loan bank advances	10,000	10,000
Off-balance sheet financial instruments
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto-Asset [Line Items]
Cash and cash equivalents	78,373	71,836
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto-Asset [Line Items]
Debt securities available for sale	24,762	25,102
Debt securities held-to-maturity	406	504
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Loans	512,031	476,566
Federal home loan bank stock	717	600
Accrued interest receivable	1,559	1,444
Deposit liabilities	556,017	512,357
Federal home loan bank advances	9,456	9,450
Off-balance sheet financial instruments

Schedule of Off-Balance Sheet R

Schedule of Off-Balance Sheet Risks of Financial Instruments (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Off- Balance Sheet Financial Instruments
Commitments to extend credit	$ 32,184
Unused lines of credit	56,272
Standby letters of credit	$ 4,313

Schedule of Capital Amounts, Ra

Schedule of Capital Amounts, Ratios and Regulatory Thresholds (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Tier I Capital to Total Assets, Amount	$ 69,234	$ 66,291
Tier I Capital to Total Assets, Ratio	0.1120	0.1129
Tier I Capital to Total Assets To Be Well Capitalized Under Prompt Corrective Action Regulations (CBLR Framework), Amount	$ 55,616	$ 52,865
Tier I Capital to Total Assets To Be Well Capitalized Under Prompt Corrective Action Regulations (CBLR Framework), Ratio	0.0900	0.0900

Series B Preferred Stock (Detai

Series B Preferred Stock (Details Narrative) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 27, 2023	Dec. 31, 2022
Series B Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred stock shares issued	1,360		1,360
Preferred stock conversion		11,113,889
Series B1 Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock shares issued	760
Preferred stock conversion price	$ 2.50
Series B2 Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock shares issued	260
Preferred stock conversion price	$ 4
Series B3 Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock shares issued	500
Preferred stock conversion price	$ 4.50
Common Stock [Member] | Series B Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion of Stock, Shares Issued	11,113,889

Contingencies (Details Narrativ

Contingencies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation settlement expense	$ 375		$ 375