Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 09, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | QUAINT OAK BANCORP INC | |
Entity Central Index Key | 1,391,933 | |
Trading Symbol | qnto | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 1,990,898 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Due from banks, non-interest-bearing | $ 413 | $ 64 |
Due from banks, interest-bearing | 17,806 | 7,846 |
Cash and cash equivalents | 18,219 | 7,910 |
Investment in interest-earning time deposits | 4,920 | 4,879 |
Investment securities available for sale | 7,337 | 7,912 |
Loans held for sale | 5,199 | 7,006 |
Loans receivable, net of allowance for loan losses (2018 $1,830; 2017 $1,812) | 208,178 | 201,667 |
Accrued interest receivable | 1,013 | 1,021 |
Investment in Federal Home Loan Bank stock, at cost | 1,246 | 1,234 |
Bank-owned life insurance | 3,855 | 3,814 |
Premises and equipment, net | 2,130 | 1,988 |
Goodwill | 515 | 515 |
Other intangible, net of accumulated amortization | 392 | 416 |
Other real estate owned, net | 1,674 | |
Prepaid expenses and other assets | 1,254 | 1,234 |
Total Assets | 255,932 | 239,596 |
Liabilities | ||
Non-interest bearing | 11,873 | 7,956 |
Interest-bearing | 190,125 | 178,265 |
Total deposits | 201,998 | 186,221 |
Federal Home Loan Bank short-term borrowings | 10,000 | 10,000 |
Federal Home Loan Bank long-term borrowings | 18,000 | 18,000 |
Accrued interest payable | 176 | 167 |
Advances from borrowers for taxes and insurance | 2,330 | 2,423 |
Accrued expenses and other liabilities | 496 | 600 |
Total Liabilities | 233,000 | 217,411 |
Stockholders’ Equity | ||
Preferred stock – $0.01 par value, 1,000,000 shares authorized; none issued or outstanding | 0 | 0 |
Common stock – $0.01 par value; 9,000,000 shares authorized; 2,777,250 issued; 1,990,556 and 1,920,024 outstanding at June 30, 2018 and December 31, 2017, respectively | 28 | 28 |
Additional paid-in capital | 14,520 | 14,481 |
Treasury stock, at cost: 2018 786,694 shares; 2017 857,226 shares | (4,627) | (4,675) |
Unallocated common stock held by: | ||
Employee Stock Ownership Plan (ESOP) | (219) | (253) |
Recognition & Retention Plan Trust (RRP) | (24) | |
Accumulated other comprehensive loss | (4) | (15) |
Retained earnings | 13,234 | 12,643 |
Total Stockholders' Equity | 22,932 | 22,185 |
Total Liabilities and Stockholders’ Equity | $ 255,932 | $ 239,596 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans receivable, allowance for loan losses | $ 1,830 | $ 1,812 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 9,000,000 | 9,000,000 |
Common stock, shares issued (in shares) | 2,777,250 | 2,777,250 |
Common stock, shares outstanding (in shares) | 1,990,556 | 1,920,024 |
Treasury stock, at cost, shares (in shares) | 786,694 | 857,226 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest Income | ||||
Interest and fees on loans | $ 2,849,000 | $ 2,523,000 | $ 5,558,000 | $ 4,953,000 |
Interest and dividends on short-term investments and investment securities | 150,000 | 81,000 | 276,000 | 166,000 |
Total Interest Income | 2,999,000 | 2,604,000 | 5,834,000 | 5,119,000 |
Interest Expense | ||||
Interest on deposits | 800,000 | 654,000 | 1,529,000 | 1,302,000 |
Interest on Federal Home Loan Bank short-term borrowings | 48,000 | 21,000 | 84,000 | 33,000 |
Interest on Federal Home Loan Bank long-term borrowings | 91,000 | 40,000 | 182,000 | 74,000 |
Total Interest Expense | 939,000 | 715,000 | 1,795,000 | 1,409,000 |
Net Interest Income | 2,060,000 | 1,889,000 | 4,039,000 | 3,710,000 |
Provision for Loan Losses | 94,000 | 64,000 | 165,000 | 106,000 |
Net Interest Income after Provision for Loan Losses | 1,966,000 | 1,825,000 | 3,874,000 | 3,604,000 |
Non-Interest Income | ||||
Insurance commissions | 103,000 | 89,000 | 182,000 | 166,000 |
Income from bank-owned life insurance | 21,000 | 22,000 | 41,000 | 44,000 |
Net gain on loans held for sale | 585,000 | 716,000 | 906,000 | 824,000 |
Gain on sale of SBA loans | 16,000 | 23,000 | 16,000 | |
Gain (loss) on sales and write-downs on other real estate owned | (67,000) | 63,000 | (63,000) | |
Other | 50,000 | 20,000 | 102,000 | 29,000 |
Total Non-Interest Income | 1,020,000 | 961,000 | 1,762,000 | 1,318,000 |
Non-Interest Expense | ||||
Salaries and employee benefits | 1,621,000 | 1,353,000 | 3,289,000 | 2,670,000 |
Directors' fees and expenses | 40,000 | 50,000 | 94,000 | 102,000 |
Occupancy and equipment | 146,000 | 145,000 | 296,000 | 290,000 |
Data processing | 93,000 | 86,000 | 179,000 | 133,000 |
Professional fees | 123,000 | 94,000 | 183,000 | 184,000 |
FDIC deposit insurance assessment | 46,000 | 43,000 | 93,000 | 87,000 |
Other real estate owned expense | 2,000 | 1,000 | 2,000 | 8,000 |
Advertising | 54,000 | 39,000 | 108,000 | 78,000 |
Amortization of other intangible | 12,000 | 12,000 | 24,000 | 24,000 |
Other | 144,000 | 165,000 | 320,000 | 303,000 |
Total Non-Interest Expense | 2,281,000 | 1,988,000 | 4,588,000 | 3,879,000 |
Income before Income Taxes | 705,000 | 798,000 | 1,048,000 | 1,043,000 |
Income Taxes | 170,000 | 274,000 | 225,000 | 348,000 |
Net Income | $ 535,000 | $ 524,000 | $ 823,000 | $ 695,000 |
Earnings per share - basic (in dollars per share) | $ 0.28 | $ 0.28 | $ 0.43 | $ 0.38 |
Average shares outstanding - basic (in shares) | 1,904,344 | 1,865,612 | 1,903,658 | 1,851,945 |
Earnings per share - diluted (in dollars per share) | $ 0.27 | $ 0.26 | $ 0.42 | $ 0.35 |
Average shares outstanding - diluted (in shares) | 1,963,852 | 2,008,404 | 1,962,954 | 1,993,280 |
Mortgage Banking and Abstract Fees [Member] | ||||
Non-Interest Income | ||||
Non-interest revenue | $ 217,000 | $ 147,000 | $ 327,000 | $ 258,000 |
Other Fees and Services Fees [Member] | ||||
Non-Interest Income | ||||
Non-interest revenue | $ 44,000 | $ 18,000 | $ 118,000 | $ 44,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net Income | $ 535,000 | $ 524,000 | $ 823,000 | $ 695,000 |
Other Comprehensive Income (Loss): | ||||
Unrealized gains (losses) on investment securities available-for-sale | (1,000) | 25,000 | 14,000 | 45,000 |
Income tax effect | (8,000) | (3,000) | (15,000) | |
Other comprehensive income (loss) | (1,000) | 17,000 | 11,000 | 30,000 |
Total Comprehensive Income | $ 534,000 | $ 541,000 | $ 834,000 | $ 725,000 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) | The 401(k) Plan [Member]Common Stock [Member] | The 401(k) Plan [Member]Additional Paid-in Capital [Member] | The 401(k) Plan [Member]Treasury Stock [Member] | The 401(k) Plan [Member] | The 2013 Stock Incentive Plan [Member]Common Stock [Member] | The 2013 Stock Incentive Plan [Member]Additional Paid-in Capital [Member] | The 2013 Stock Incentive Plan [Member]Treasury Stock [Member] | The 2008 Stock Option Plan [Member]Common Stock [Member] | The 2008 Stock Option Plan [Member]Additional Paid-in Capital [Member] | The 2008 Stock Option Plan [Member]Treasury Stock [Member] | The 2008 Stock Option Plan [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Unallocated Common Stock Held by Benefit Plans [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Net Income | $ 695,000 | |||||||||||||||||
Other comprehensive income, net | 30,000 | |||||||||||||||||
Net Income | 524,000 | |||||||||||||||||
Other comprehensive income, net | $ 17,000 | |||||||||||||||||
BALANCE (in shares) at Dec. 31, 2017 | 1,920,024 | 1,920,024 | ||||||||||||||||
Balance at the beginning of the period at Dec. 31, 2017 | $ 28,000 | $ 14,481,000 | $ (4,675,000) | $ (277,000) | $ (15,000) | $ 12,643,000 | $ 22,185,000 | |||||||||||
Common stock allocated by ESOP | 62,000 | 34,000 | 96,000 | |||||||||||||||
Treasury stock purchased (in shares) | (44,311) | |||||||||||||||||
Treasury stock purchased | (588,000) | 2,000 | (586,000) | |||||||||||||||
Reissuance of treasury stock (in shares) | 3,002 | 4,997 | 106,844 | |||||||||||||||
Reissuance of treasury stock | $ 23,000 | $ 17,000 | $ 40,000 | $ (28,000) | $ 28,000 | $ (57,000) | $ 591,000 | $ 534,000 | ||||||||||
Stock based compensation expense | 61,000 | 61,000 | ||||||||||||||||
Release of 4,664 vested RRP shares | (22,000) | 22,000 | ||||||||||||||||
Cash dividends declared ($0.12 per share) | (232,000) | (232,000) | ||||||||||||||||
Net Income | 823,000 | 823,000 | ||||||||||||||||
Other comprehensive income, net | 11,000 | $ 11,000 | ||||||||||||||||
BALANCE (in shares) at Jun. 30, 2018 | 1,990,556 | 1,990,556 | ||||||||||||||||
Balance at the end of the period at Jun. 30, 2018 | $ 28,000 | 14,520,000 | (4,627,000) | (219,000) | (4,000) | 13,234,000 | $ 22,932,000 | |||||||||||
Net Income | 535,000 | |||||||||||||||||
Other comprehensive income, net | $ (1,000) | |||||||||||||||||
BALANCE (in shares) at Jun. 30, 2018 | 1,990,556 | 1,990,556 | ||||||||||||||||
Balance at the end of the period at Jun. 30, 2018 | $ 28,000 | $ 14,520,000 | $ (4,627,000) | $ (219,000) | $ (4,000) | $ 13,234,000 | $ 22,932,000 |
Consolidated Statement of Stoc7
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) | 6 Months Ended |
Jun. 30, 2018$ / shares | |
Retained Earnings [Member] | |
Cash dividends declared, per share (in dollars per share) | $ 0.12 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash Flows from Operating Activities | ||
Net Income | $ 823,000 | $ 695,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 165,000 | 106,000 |
Depreciation expense | 102,000 | 91,000 |
Amortization of intangibles | 24,000 | 24,000 |
Net amortization of securities premiums | 10,000 | 9,000 |
Accretion of deferred loan fees and costs, net | (169,000) | (178,000) |
Stock-based compensation expense | 157,000 | 156,000 |
Net gain on loans held for sale | (906,000) | (824,000) |
Loans held for sale-originations | (44,934,000) | (34,193,000) |
Loans held for sale-proceeds | 47,647,000 | 32,510,000 |
Gain on the sale of SBA loans | (23,000) | (16,000) |
Net (gain) loss on sale and write-downs of other real estate owned | (63,000) | 63,000 |
Increase in the cash surrender value of bank-owned life insurance | (41,000) | (44,000) |
Changes in assets and liabilities which provided (used) cash: | ||
Accrued interest receivable | 8,000 | (13,000) |
Prepaid expenses and other assets | (23,000) | (599,000) |
Accrued interest payable | 9,000 | 5,000 |
Accrued expenses and other liabilities | (104,000) | (42,000) |
Net Cash Provided by (Used in) Operating Activities | 2,682,000 | (2,250,000) |
Cash Flows from Investing Activities | ||
Purchase of interest-earning time deposits | (541,000) | (562,000) |
Redemption of interest-earning time deposits | 500,000 | 1,295,000 |
Principal repayments of investment securities available for sale | 579,000 | 698,000 |
Net increase in loans receivable | (8,140,000) | (12,151,000) |
Purchase of Federal Home Loan Bank stock | (12,000) | (421,000) |
Proceeds from the sale of other real estate owned | 63,000 | 210,000 |
Capitalized expenditures on other real estate owned | (18,000) | (23,000) |
Purchase of premises and equipment | (244,000) | (354,000) |
Net Cash Used in Investing Activities | (7,813,000) | (11,308,000) |
Cash Flows from Financing Activities | ||
Net increase in demand deposits, money markets, and savings accounts | 3,760,000 | 1,636,000 |
Net increase in certificate accounts | 12,017,000 | 460,000 |
Decrease in advances from borrowers for taxes and insurance | (93,000) | (47,000) |
Net proceeds from Federal Home Loan Bank short-term borrowings | 3,000,000 | |
Proceeds from Federal Home Loan Bank long-term borrowings | 8,000,000 | |
Repayment of Federal Home Loan Bank long-term borrowings | (1,000,000) | |
Dividends paid | (232,000) | (172,000) |
Purchase of treasury stock | (586,000) | (5,000) |
Proceeds from the reissuance of treasury stock | 40,000 | 68,000 |
Proceeds from the exercise of stock options | 534,000 | 193,000 |
Net Cash Provided by Financing Activities | 15,440,000 | 12,133,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | 10,309,000 | (1,425,000) |
Cash and Cash Equivalents – Beginning of Year | 7,910,000 | 9,300,000 |
Cash and Cash Equivalents – End of Year | 18,219,000 | 7,875,000 |
Cash payments for interest | 1,786,000 | 1,404,000 |
Cash payments for income taxes | 290,000 | 505,000 |
Transfer of loans to other real estate owned | $ 1,656,000 |
Note 1 - Financial Statement Pr
Note 1 - Financial Statement Presentation and Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1 Basis of Financial Presentation. June 30, 2018, five July 2009. July 2012 August 2016 The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Pursuant to the Bank’s election under Section 10 two The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP) for interim information and with the instructions to Form 10 not The foregoing consolidated financial statements are unaudited; but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation thereof. The balances as of December 31, 2017 2017 10 three June 30, 2018 not may December 31, 2018. Use of Estimates in the Preparation of Financial Statements. Loans Receivable. The loans receivable portfolio is segmented into residential loans, commercial real estate loans, construction loans and consumer loans. The residential loan segment has two one four one four five The accrual of interest is generally discontinued when principal or interest has become 90 no Allowance for Loan Losses. no The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may The allowance consists of specific, general and unallocated components. The specific component relates to loans that are designated as impaired. For loans that are designated as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These significant factors may A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A loan is identified as a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not For loans secured by real estate, estimated fair values are determined primarily through third The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for all loans (except one four $500,000, may not may may not Loans Held for Sale . Federal Home Loan Bank Stock . No three six June 30, 2018 2017. Bank Owned Life Insurance (BOLl). Intangible Assets. August 1, 2016 $1.0 $515,000 $485,000 ten The Company will complete a goodwill and other intangible asset analysis at least on an annual basis or more often if events and circumstances indicate that there may Other Real Estate Owned , Net . two one four June 30, 2018. $242,000. Share -Based Compensation. At June 30, 2018, two 2013 2018 May 2013 2018. 10. The Company also has an employee stock ownership plan (“ESOP”). This plan is more fully described in Note 10. Comprehensive Income . Earnings per Share. Revenue from Contracts with Customers. 606, “Revenue from Contracts with Customers” (“Topic 606” 606, not The Company’s primary sources of revenue are derived from interest and dividends earned on loans and investment securities, gains on the sale of loans, income from bank-owned life insurance, and other financial instruments that are not 606. Service Charges on Deposits Insurance Commissions : not one no Recent Accounting Pronouncements. January 2016, 2016 01, 825 10 not The Bank has adopted this standard effective January 1, 2018. 11 820 10, no In February 2016, 2016 02, Leases (Topic 842 one 12 not may December 15, 2018, may not 1% In June 2016, 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments 2016 13 December 15, 2019, December 15, 2018. first one first one In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2019. not In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. a change in accounting principle. This Update is not In January 2018, 2018 01, 842 not 842 not 840. 842 842; 842 2016 02. not Reclassifications. 2017 2018 not no |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 2 – Earnings Per Share Earnings per share (“EPS”) consists of two not three six June 30, 2018 2017, The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computations. For the Three Months Ended June 30, For the Six Months Ended June 30, 201 8 201 7 201 8 201 7 Net Income $ 535,000 $ 524,000 $ 823,000 $ 695,000 Weighted average shares outstanding – basic 1,904,344 1,865,612 1,903,658 1,851,945 Effect of dilutive common stock equivalents 59,508 142,792 59,296 141,335 Adjusted weighted average shares outstanding – diluted 1,963,852 2,008,404 1,962,954 1,993,280 Basic earnings per share $ 0.28 $ 0.28 $ 0.43 $ 0.38 Diluted earnings per share $ 0.27 $ 0.26 $ 0.42 $ 0.35 |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 3 – Accumulated Other Comprehensive Income ( Loss ) The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax, for the three six June 30, 2018 2017 Unrealized Gains (Losses) on Investment Securities Available for Sale (1) For the Three Months Ended June 30, For the Six Months Ended June 30, 201 8 201 7 201 8 201 7 Balance at the beginning of the period $ (3 ) $ (25 ) $ (15 ) $ (38 ) Other comprehensive income (loss) before classifications (1 ) 17 11 30 Amount reclassified from accumulated other comprehensive income (loss) - - - - Total other comprehensive income (loss) (1 ) 17 11 30 Balance at the end of the period $ (4 ) $ (8 ) $ (4 ) $ (8 ) _______________ ( 1 |
Note 4 - Investment in Interest
Note 4 - Investment in Interest-earning Time Deposits | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Investments and Other Noncurrent Assets [Text Block] | N ote 4 – Investment in Interest-Earning Time Deposits The investment in interest-earning time deposits as of June 30, 2018 December 31, 2017, June 30, 201 8 December 31, 201 7 Due in one year or less $ 1,604 $ 761 Due after one year through five years 3,316 4,118 Total $ 4,920 $ 4,879 |
Note 5 - Investment Securities
Note 5 - Investment Securities Available for Sale | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | N ote 5 – Investment Securities Available for Sale The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale at June 30, 2018 December 31, 2017 June 30 , 201 8 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,241 $ 32 $ (1 ) $ 5,272 Federal Home Loan Mortgage Corporation securities 1,286 - (32 ) 1,254 Federal National Mortgage Association securities 455 1 456 Total mortgage-backed securities 6,982 33 (33 ) 6,982 Debt securities: U.S. government agency 360 - (5 ) 355 Total available-for-sale-securities $ 7,342 $ 33 $ (38 ) $ 7,337 December 31, 201 7 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,624 $ 19 $ - $ 5,643 Federal Home Loan Mortgage Corporation securities 1,377 - (35 ) 1,342 Federal National Mortgage Association securities 570 - - 570 Total mortgage-backed securities 7,571 19 (35 ) 7,555 Debt securities: U.S. government agency 360 - (3 ) 357 Total available-for-sale-securities $ 7,931 $ 19 $ (38 ) $ 7,912 The amortized cost and fair value of debt securities at June 30, 2018, may Available for Sale Amortized Cost Fair Value Debt securities Due after one year through five years $ 360 $ 355 Due after ten years 6,982 6,982 Total $ 7,342 $ 7,337 The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2018 December 31, 2017 ( June 30 , 201 8 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Governmental National Mortgage Association mortgage-backed securities 2 $ 734 $ (1 ) $ - $ - $ 734 $ (1 ) Federal Home Loan Mortgage Corporation mortgage-backed securities 2 - - $ 1,254 $ (32 ) $ 1,254 $ (32 ) Debt securities, U.S. government agency 1 - - 355 (5 ) 355 (5 ) Total 5 $ 734 $ (1 ) $ 1,609 $ (37 ) $ 2,343 $ (38 ) December 31 , 201 7 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Federal Home Loan Mortgage Corporation mortgage-backed securities 2 $ - $ - $ 1,342 $ (35 ) $ 1,342 $ (35 ) Debt securities, U.S. government agency 1 - - 357 (3 ) 357 (3 ) Total 3 $ - $ - $ 1,699 $ (38 ) $ 1,699 $ (38 ) At June 30, 2018, five 1.60% may not June 30, 2018 no three six June 30, 2018 2017. |
Note 6 - Loans Receivable, Net
Note 6 - Loans Receivable, Net and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 - Loans Receivable, Net and Allowance for Loan Losses The composition of net loans receivable is as follows (in thousands): June 30 , 201 8 December 31, 20 17 Real estate loans: One-to-four family residential: Owner occupied $ 6,965 $ 5,681 Non-owner occupied 47,935 51,833 Total one-to-four family residential 54,900 57,514 Multi-family (five or more) residential 23,663 21,715 Commercial real estate 96,999 92,234 Construction 13,056 15,632 Home equity 4,313 5,129 Total real estate loans 192,931 192,224 Commercial business 17,793 11,954 Other consumer 125 138 Total Loans 210,849 204,316 Deferred loan fees and costs (841 ) (837 ) Allowance for loan losses (1,830 ) (1,812 ) Net Loans $ 208,178 $ 201,667 The following tables present the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system as of June 30, 2018 December 31, 2017 June 30 , 201 8 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,543 $ 180 $ 242 $ - $ 6,965 One-to-four family residential non-owner occupied 47,624 - 311 - 47,935 Multi-family residential 23,663 - - - 23,663 Commercial real estate 95,091 1,908 - - 96,999 Construction 12,774 - 282 - 13,056 Home equity 4,313 - - - 4,313 Commercial business 17,267 526 - - 17,793 Other consumer 125 - - - 125 Total $ 207,400 $ 2,614 $ 835 $ - $ 210,849 December 31, 201 7 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 5,258 $ 423 $ - $ - $ 5,681 One-to-four family residential non-owner occupied 51,372 29 432 - 51,833 Multi-family residential 21,715 - - - 21,715 Commercial real estate 91,549 399 286 - 92,234 Construction 13,563 - 2,069 - 15,632 Home equity 5,129 - - - 5,129 Commercial business 11,419 535 - - 11,954 Other consumer 138 - - - 138 Total $ 200,143 $ 1,386 $ 2,787 $ - $ 204,316 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not June 30, 2018 June 30 , 201 8 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 242 $ 242 $ - $ 242 $ - One-to-four family residential non-owner occupied 323 323 - 325 9 Multi-family residential - - - - - Commercial real estate - - - - - Construction 282 282 - 2,054 - Home equity - - - 44 2 Commercial business - - - - - Other consumer - - - - - With an allowance recorded: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 93 93 20 93 3 Multi-family residential - - - - - Commercial real estate 133 133 5 133 5 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total: One-to-four family residential owner occupied $ 242 $ 242 $ - $ 242 $ - One-to-four family residential non-owner occupied 416 416 20 418 12 Multi-family residential - - - - - Commercial real estate 133 133 5 133 5 Construction 282 282 - 2,054 - Home equity - - - 44 2 Commercial business - - - - - Other consumer - - - - - Total $ 1,073 $ 1,073 $ 25 $ 2,891 $ 19 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not December 31, 2017 December 31, 201 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 442 442 - 937 24 Multi-family residential - - - - - Commercial real estate - - - 398 38 Construction 2,069 2,069 - 2,064 58 Home equity 45 45 - 47 5 Commercial business - - - - - Other consumer - - - - - With an allowance recorded: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 214 214 70 214 5 Multi-family residential - - - - - Commercial real estate 133 133 1 395 9 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 656 656 70 1,151 29 Multi-family residential - - - - - Commercial real estate 133 133 1 793 47 Construction 2,069 2,069 - 2,064 58 Home equity 45 45 - 47 5 Commercial business - - - - - Other consumer - - - - - Total $ 2,903 $ 2,903 $ 71 $ 4,055 $ 139 The loan portfolio also includes certain loans that have been modified in a troubled debt restructuring, where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from loss mitigation activities and could include reductions in the interest rate, payment extensions, forbearance, or other actions. At June 30, 2018, four $549,000 four December 31, 2017, eight $714,000 not six six June 30, 2018, no four The following tables present the Company’s TDR loans as of June 30, 2018 December 31, 2017 ( June 30 , 201 8 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied - $ - $ - $ - $ - One-to-four family residential non-owner occupied 3 416 - 416 20 Multi-family residential - - - - - Commercial real estate 1 133 - 133 5 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total 4 $ 549 $ - $ 549 $ 25 December 31, 201 7 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied - $ - $ - $ - $ - One-to-four family residential non-owner occupied 5 536 - 536 25 Multi-family residential - - - - - Commercial real estate 1 133 - 133 1 Construction - - - - - Home equity 2 45 - 45 - Commercial business - - - - - Other consumer - - - - - Total 8 $ 714 $ - $ 714 $ 26 The contractual aging of the TDRs in the table above as of June 30, 2018 December 31, 2017 June 30 , 201 8 Accruing Past Due Less than 30 Days Past Due 30-89 Days 90 Days or More Past Due Non- Accrual Total One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 416 - - - 416 Multi-family residential - - - - - Commercial real estate 133 - - - 133 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total $ 549 $ - $ - $ - $ 549 December 31, 2017 Accruing Past Due Less than 30 Days Past Due 30-89 Days 90 Days or More Past Due Non- Accrual Total One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 536 - - - 536 Multi-family residential - - - - - Commercial real estate 133 - - - 133 Construction - - - - - Home equity 45 - - - 45 Commercial business - - - - - Other consumer - - - - - Total $ 714 $ - $ - $ - $ 714 Any reserve for an impaired TDR loan is based upon the present value of the future expected cash flows discounted at the loan’s original effective rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. At June 30, 2018 no The general practice of the Bank is to work with borrowers so that they are able to pay back their loan in full. If a borrower continues to be delinquent or cannot meet the terms of a TDR modification and the loan is determined to be uncollectible, the loan will be charged off. Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the three six June 30, 2018 June 30, 2018 ( June 30, 201 8 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total For the Three Months Ended June 30, 201 8 Allowance for loan losses: Beginning balance $ 54 $ 495 $ 164 $ 720 $ 142 $ 26 $ 170 $ 65 $ 1,836 Charge-offs - - - - (100 ) - - - (100 ) Recoveries - - - - - - - - - Provision 6 (56 ) 2 8 137 (2 ) 31 (32 ) 94 Ending balance $ 60 $ 439 $ 166 $ 728 $ 179 $ 24 $ 201 $ 33 $ 1,830 For the Six Months Ended June 30, 201 8 Allowance for loan losses: Beginning balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Charge-offs - (47 ) - - (100 ) - - - (147 ) Recoveries - - - - - - - - - Provision 12 (54 ) 14 41 143 (3 ) 61 (49 ) 165 Ending balance $ 60 $ 439 $ 166 $ 728 $ 179 $ 24 $ 201 $ 33 $ 1,830 Ending balance evaluated for impairment: Individually $ - $ 20 $ - $ 5 $ - $ - $ - $ - $ 25 Collectively $ 60 $ 419 $ 166 $ 723 $ 179 $ 24 $ 201 $ 33 $ 1,805 Loans receivable: Ending balance: $ 6,965 $ 47,935 $ 23,663 $ 96,999 $ 13,056 $ 4,313 $ 17,918 $ 210,849 Ending balance evaluated for impairment: Individually $ 242 $ 416 $ - $ 133 $ 282 $ - $ - $ 1,073 Collectively $ 6,723 $ 47,519 $ 23,663 $ 96,866 $ 12,774 $ 4,313 $ 17,918 $ 209,776 The Bank allocated decreased allowance for loan loss provisions to the 1 4 three six June 30, 2018, three six June 30, 2018, three six June 30, 2018, three six June 30, 2018, Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the three six June 30, 2017 ( June 30, 2017 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercia l Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total For the Three Months Ended June 30, 201 7 Allowance for loan losses: Beginning balance $ 44 $ 524 $ 108 $ 612 $ 127 $ 51 $ 94 $ 90 $ 1,650 Charge-offs - - - (24 ) - - - - (24 ) Recoveries - - - - - - - - - Provision 1 (59 ) 48 57 10 (10 ) 17 - 64 Ending balance $ 45 $ 465 $ 156 $ 645 $ 137 $ 41 $ 111 $ 90 $ 1,690 For the Six Months Ended June 30, 201 7 Allowance for loan losses: Beginning balance $ 41 $ 503 $ 103 $ 616 $ 138 $ 37 $ 87 $ 80 $ 1,605 Charge-offs - - - (24 ) - - - - (24 ) Recoveries - - - 3 - - - - 3 Provision 4 (38 ) 53 50 (1 ) 4 24 10 106 Ending balance $ 45 $ 465 $ 156 $ 645 $ 137 $ 41 $ 111 $ 90 $ 1,690 Ending balance evaluated for impairment: Individually $ - $ 21 $ - $ 1 $ - $ - $ - $ - $ 22 Collectively $ 45 $ 444 $ 156 $ 644 $ 137 $ 41 $ 111 $ 90 $ 1,668 The Bank allocated decreased allowance for loan loss provisions to the 1 4 three six June 30, 2017, three six June 30, 2017, Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the year ended December 31, 2017 December 31, 2017 ( December 31, 201 7 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi- Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 41 $ 503 $ 103 $ 616 $ 138 $ 37 $ 87 $ 80 $ 1,605 Charge-offs - (56 ) - (24 ) - - - - (80 ) Recoveries - - - 3 - - - - 3 Provision 7 93 49 92 (2 ) (10 ) 53 2 284 Ending balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Ending balance evaluated for impairment Individually $ - $ 70 $ - $ 1 $ - $ - $ - $ - $ 71 Collectively $ 48 $ 470 $ 152 $ 686 $ 136 $ 27 $ 140 $ 82 $ 1,741 Loans receivable: Ending balance $ 5,681 $ 51,833 $ 21,715 $ 92,234 $ 15,632 $ 5,129 $ 12,092 $ 204,316 Ending balance evaluated for impairment Individually $ - $ 656 $ - $ 133 $ 2,069 $ 45 $ - $ 2,903 Collectively $ 5,681 $ 51,177 $ 21,715 $ 92,101 $ 13,563 $ 5,084 $ 12,092 $ 201,413 The Bank allocated increased allowance for loan loss provisions to the commercial real estate, commercial business, and multi-family portfolio classes for the year ended December 31, 2017, 1 4 December 31, 2017, The following table presents nonaccrual loans by classes of the loan portfolio as of June 30, 2018 December 31, 2017 ( June 30 , 201 8 December 31, 201 7 One-to-four family residential owner occupied $ 242 $ - One-to-four family residential non-owner occupied - 120 Multi-family residential - - Commercial real estate - - Construction 282 2,069 Home equity - - Commercial business - - Other consumer - - Total $ 524 $ 2,189 Non-performing loans, which consist of non-accruing loans plus accruing loans 90 $785,000 $3.1 June 30, 2018 December 31, 2017, For the three six June 30, 2018 2017 no $9,000 $18,000 three six June 30, 2018, $30,000 $55,000 three six June 30, 2017, The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the past due status as of June 30, 2018 December 31, 2017 ( June 30 , 201 8 30- 89 Days Past Due 90 Days or M ore Pas t Due Total Past Due Current Total Loans Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 316 $ 422 $ 738 $ 6,227 $ 6,965 $ 180 One-to-four family residential non-owner occupied 974 81 1,055 46,880 47,935 81 Multi-family residential - - - 23,663 23,663 - Commercial real estate 867 - 867 96,132 96,999 - Construction 353 282 635 12,421 13,056 - Home equity 32 - 32 4,281 4,313 - Commercial business 446 - 446 17,347 17,793 - Other consumer - - - 125 125 - Total $ 2,988 $ 785 $ 3,773 $ 207,076 $ 210,849 $ 261 December 31, 201 7 30- 89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loan s Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 670 $ 423 $ 1,093 $ 4,588 $ 5,681 $ 423 One-to-four family residential non-owner occupied 969 337 1,306 50,527 51,833 217 Multi-family residential 313 - 313 21,402 21,715 - Commercial real estate 505 241 746 91,488 92,234 241 Construction 407 2,069 2,476 13,156 15,632 - Home equity 51 - 51 5,078 5,129 - Commercial business - - - 11,954 11,954 - Other consumer - - - 138 138 - Total $ 2,915 $ 3,070 $ 5,985 $ 198,331 $ 204,316 $ 881 |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible, Net | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 – Goodwill and Other Intangible, Net On August 1, 2016, $1.0 $515,000 $485,000 ten June 30, 2018 $392,000 $93,000. three six June 30, 2018 2017 $12,000 $24,000, |
Note 8 - Deposits
Note 8 - Deposits | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | N ote 8 – Deposits Deposits consist of the following classifications (in thousands): June 30 , 201 8 December 31, 201 7 Non-interest bearing checking accounts $ 11,873 $ 7,956 Passbook accounts 303 463 Savings accounts 1,912 2,353 Money market accounts 30,855 30,411 Certificates of deposit 157,055 145,038 Total deposits $ 201,998 $ 186,221 |
Note 9 - Borrowings
Note 9 - Borrowings | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | N ote 9 – Borrowings Federal Home Loan Bank advances consist of the following at June 30, 2018 December 31, 2017 ( June 30 , 201 8 December 31, 201 7 Amount Weighted Interest Amount Weighted Interest Short-term borrowings $ 10,000 2.10 % $ 10,000 1.54 % Fixed rate borrowings maturing: 2018 3,000 1.46 3,000 1.46 2019 3,000 1.86 3,000 1.86 2020 2,000 2.00 2,000 2.00 2021 3,000 2.05 3,000 2.05 2022 3,000 2.18 3,000 2.18 2023 3,000 2.33 3,000 2.33 2024 1,000 2.54 1,000 2.54 Total FHLB long-term debt $ 18,000 2.01 % $ 18,000 2.01 % |
Note 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 1 0 – Stock Compensation Plans Employee Stock Ownership Plan The Company maintains an Employee Stock Ownership Plan (ESOP) for the benefit of employees who meet the eligibility requirements of the plan. Using proceeds from a loan from the Company, the ESOP purchased 8%, 222,180 2007. 7.75% 15 Shares of the Company’s common stock purchased by the ESOP are held in a suspense account and reported as unallocated common stock held by the ESOP in stockholders’ equity until released for allocation to participants. As the debt is repaid, shares are released from collateral and are allocated to each eligible participant based on the ratio of each such participant’s base compensation to the total base compensation of eligible plan participants. As the unearned shares are committed to be released and allocated among participants, the Company recognizes compensation expense equal to the average market value of the shares, and the shares become outstanding for earnings per share computations. During the three six June 30, 2018, $48,000 $96,000 three six June 30, 2017, $47,000 $92,000 Recognition & Retention and Stock Incentive Plan s In May 2008, 2008 2008 111,090 $4.68 $520,000. May 2013, 2013 2013 May 2013 195,000 48,750, 25%, may 146,250 May 2018, 2018 May 2018 155,000 37,750, 25%, may 117,250 As of June 30, 2018, 48,608 2013 2018 11,750 2018 none 2013 2013 2018 five A summary of the status of the share awards under the 2013 2018 June 30, 2018 2017 six June 30, 2018 2017 June 30, 201 8 June 30 , 201 7 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the period 10,061 $ 8.10 20,524 $ 8.10 Granted 48,608 13.30 - - Vested (9,661 ) 8.10 (10,263 ) 8.10 Forfeited (400 ) 8.10 - - Unvested at the end of the period 48,608 $ 13.30 10,261 $ 8.10 Compensation expense on the restricted stock awards is recognized ratably over the five six June 30, 2018 2017, $42,000 $9,000 $14,000 three June 30, 2018 2017, June 30, 2018, $630,000 4.9 Stock Option and Stock Incentive Plans In May 2008, 2008 May 2013, 2013 277,726 no 2013 May 2013 195,000 48,750, 25%, may 146,250 May 2018, 2018 May 2018 155,000 37,750, 25%, may 117,250 For grants in May 2008, $5.00 Plan and the Stock Incentive Plan are intended to comply with the requirements of Section 422 As of June 30, 2018, 279,836 38,250 none five ten A summary of option activity under the Company’s Option Plan and 2013 2018 June 30, 2018 2017 six June 30, 2018 2017 201 8 201 7 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the year 265,302 $ 6.74 3.2 316,348 $ 6.49 3.8 Granted 136,636 13.30 9.9 - - - Exercised (106,844 ) 5.00 - (38,800 ) 5.00 - Forfeited (15,258 ) 6.22 - - - - Outstanding at end of period 279,836 $ 10.64 7.8 277,548 $ 6.70 3.6 Exercisable at end of period 143,200 $ 8.10 4.9 247,228 $ 6.53 3.4 During both the six June 30, 2018 2017, $19,000 $22,000, $1,000 six June 30, 2018. $2,000 six June 30, 2018. June 30, 2018, $127,000 4.9 |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 11 Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not not may Fair value is determined at one not not not not Note 1 1 – Fair Value Measurements and Fair Values of Financial Instruments (Continued) The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Valuations derived from valuation techniques in which one This hierarchy requires the use of observable market data when available. The following is a discussion of assets and liabilities measured at fair value on a recurring basis and valuation techniques applied: Investment Securities Available-For-Sale: 1 2 We may Impaired Loans: 3 Other Real Estate Owned: 3 Note 1 1 – Fair Value Measurements and Fair Values of Financial Instruments (Continued) The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of June 30, 2018 ( June 30 , 2018 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,272 $ - $ 5,272 $ - Federal Home Loan Mortgage Corporation mortgage-backed securities 1,254 - 1,254 - Federal National Mortgage Association mortgage- backed securities 456 - 456 - Debt securities, U.S. government agency 355 - 355 - Total investment securities available for sale $ 7,337 $ - $ 7,337 $ - Total recurring fair value measurements $ 7,337 $ - $ 7,337 $ - Nonrecurring fair value measurements Impaired loans $ 1,048 $ - $ - $ 1,048 Other real estate owned 1,674 - - 1,674 Total nonrecurring fair value measurements $ 1,722 $ - $ - $ 1,722 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2017 ( Dec ember 3 1, 2017 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,643 $ - $ 5,643 $ - Federal Home Loan Mortgage Corporation mortgage-backed securities 1,342 - 1,342 - Federal National Mortgage Association mortgage- backed securities 570 - 570 - Debt securities, U.S. government agency 357 - 357 - Total investment securities available for sale $ 7,912 $ - $ 7,912 $ - Total recurring fair value measurements $ 7,912 $ - $ 7,912 $ - Nonrecurring fair value measurements Impaired loans $ 2,832 $ - $ - $ 2,832 Total nonrecurring fair value measurements $ 2,832 $ - $ - $ 2,832 Note 1 1 – Fair Value Measurements and Fair Values of Financial Instruments (Continued) The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has used Level 3 June 30, 2018 December 31, 2017 ( June 30 , 201 8 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 1,048 Appraisal of collateral (1) Appraisal adjustments (2) 8% - 22% (1%) Other real estate owned $ 1,674 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 6% (6%) December 31, 201 7 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 2,832 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 27% (1%) ________________ ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 ( 2 Appraisals may The estimated fair values of the Company’s financial instruments that are not June 30, 2018 December 31, 2017 Fair Value Measurements at June 30 , 201 8 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 18,219 $ 18,219 $ 18,219 $ - $ - Investment in interest-earning time deposits 4,920 4,943 - - 4,943 Loans held for sale 5,199 5,384 5,384 - - Loans receivable, net 208,178 209,716 - - 209,716 Accrued interest receivable 1,013 1,013 1,013 - - Investment in FHLB stock 1,246 1,246 1,246 - - Bank-owned life insurance 3,855 3,855 3,855 - - Financial Liabilities Deposits 201,998 202,732 44,943 - 157,789 FHLB short-term borrowings 10,000 10,000 10,000 - - FHLB long-term borrowings 18,000 16,962 - - 16,962 Accrued interest payable 176 176 176 - - Advances from borrowers for taxes and insurance 2,330 2,330 2,330 - - Note 1 1 – Fair Value Measurements and Fair Values of Financial Instruments (Continued) Fair Value Measurements at December 31, 201 7 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 7,910 $ 7,910 $ 7,910 $ - $ - Investment in interest-earning time deposits 4,879 4,912 - - 4,912 Loans held for sale 7,006 7,232 7,232 - - Loans receivable, net 201,667 202,803 - - 202,803 Accrued interest receivable 1,021 1,021 1,021 - - Investment in FHLB stock 1,234 1,234 1,234 - - Bank-owned life insurance 3,814 3,814 3,814 - - Financial Liabilities Deposits 186,221 187,309 41,183 - 146,126 FHLB short-term borrowings 10,000 10,000 10,000 - - FHLB long-term borrowings 18,000 16,982 - - 16,982 Accrued interest payable 167 167 167 - - Advances from borrowers for taxes and insurance 2,423 2,423 2,423 - - The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on the Company’s consolidated balance sheets: Cash and Cash Equivalents. Interest-Earning Time Deposits. Loans Held for Sale Loans Receivable, Net. 3 Accrued Interest Receivable. Note 1 1 – Fair Value Measurements and Fair Values of Financial Instruments (Continued) Investment in Federal Home Loan Bank Stock. Bank-Owned Life Insurance. Deposits. Federal Home Loan Bank Borrowings. Accrued Interest Payable. Advances from B orrowers for T axes and I nsurance . Off-Balance Sheet Financial Instruments. not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Financial Presentation. June 30, 2018, five July 2009. July 2012 August 2016 The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Pursuant to the Bank’s election under Section 10 two The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP) for interim information and with the instructions to Form 10 not The foregoing consolidated financial statements are unaudited; but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation thereof. The balances as of December 31, 2017 2017 10 three June 30, 2018 not may December 31, 2018. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Receivable. The loans receivable portfolio is segmented into residential loans, commercial real estate loans, construction loans and consumer loans. The residential loan segment has two one four one four five The accrual of interest is generally discontinued when principal or interest has become 90 no |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses. no The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may The allowance consists of specific, general and unallocated components. The specific component relates to loans that are designated as impaired. For loans that are designated as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These significant factors may A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A loan is identified as a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not For loans secured by real estate, estimated fair values are determined primarily through third The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for all loans (except one four $500,000, may not may may not |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale . |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock . No three six June 30, 2018 2017. |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance (BOLl). |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets. August 1, 2016 $1.0 $515,000 $485,000 ten The Company will complete a goodwill and other intangible asset analysis at least on an annual basis or more often if events and circumstances indicate that there may |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Other Real Estate Owned , Net . two one four June 30, 2018. $242,000. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share -Based Compensation. At June 30, 2018, two 2013 2018 May 2013 2018. 10. The Company also has an employee stock ownership plan (“ESOP”). This plan is more fully described in Note 10. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income . |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share. |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers. 606, “Revenue from Contracts with Customers” (“Topic 606” 606, not The Company’s primary sources of revenue are derived from interest and dividends earned on loans and investment securities, gains on the sale of loans, income from bank-owned life insurance, and other financial instruments that are not 606. Service Charges on Deposits Insurance Commissions : not one no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements. January 2016, 2016 01, 825 10 not The Bank has adopted this standard effective January 1, 2018. 11 820 10, no In February 2016, 2016 02, Leases (Topic 842 one 12 not may December 15, 2018, may not 1% In June 2016, 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments 2016 13 December 15, 2019, December 15, 2018. first one first one In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2019. not In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. a change in accounting principle. This Update is not In January 2018, 2018 01, 842 not 842 not 840. 842 842; 842 2016 02. not |
Reclassification, Policy [Policy Text Block] | Reclassifications. 2017 2018 not no |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, 201 8 201 7 201 8 201 7 Net Income $ 535,000 $ 524,000 $ 823,000 $ 695,000 Weighted average shares outstanding – basic 1,904,344 1,865,612 1,903,658 1,851,945 Effect of dilutive common stock equivalents 59,508 142,792 59,296 141,335 Adjusted weighted average shares outstanding – diluted 1,963,852 2,008,404 1,962,954 1,993,280 Basic earnings per share $ 0.28 $ 0.28 $ 0.43 $ 0.38 Diluted earnings per share $ 0.27 $ 0.26 $ 0.42 $ 0.35 |
Note 3 - Accumulated Other Co22
Note 3 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Investment Securities Available for Sale (1) For the Three Months Ended June 30, For the Six Months Ended June 30, 201 8 201 7 201 8 201 7 Balance at the beginning of the period $ (3 ) $ (25 ) $ (15 ) $ (38 ) Other comprehensive income (loss) before classifications (1 ) 17 11 30 Amount reclassified from accumulated other comprehensive income (loss) - - - - Total other comprehensive income (loss) (1 ) 17 11 30 Balance at the end of the period $ (4 ) $ (8 ) $ (4 ) $ (8 ) |
Note 4 - Investment in Intere23
Note 4 - Investment in Interest-earning Time Deposits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Investments in Interest-Earning Time Deposits by Contractual Maturity [Table Text Block] | June 30, 201 8 December 31, 201 7 Due in one year or less $ 1,604 $ 761 Due after one year through five years 3,316 4,118 Total $ 4,920 $ 4,879 |
Note 5 - Investment Securitie24
Note 5 - Investment Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | June 30 , 201 8 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,241 $ 32 $ (1 ) $ 5,272 Federal Home Loan Mortgage Corporation securities 1,286 - (32 ) 1,254 Federal National Mortgage Association securities 455 1 456 Total mortgage-backed securities 6,982 33 (33 ) 6,982 Debt securities: U.S. government agency 360 - (5 ) 355 Total available-for-sale-securities $ 7,342 $ 33 $ (38 ) $ 7,337 December 31, 201 7 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,624 $ 19 $ - $ 5,643 Federal Home Loan Mortgage Corporation securities 1,377 - (35 ) 1,342 Federal National Mortgage Association securities 570 - - 570 Total mortgage-backed securities 7,571 19 (35 ) 7,555 Debt securities: U.S. government agency 360 - (3 ) 357 Total available-for-sale-securities $ 7,931 $ 19 $ (38 ) $ 7,912 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale Amortized Cost Fair Value Debt securities Due after one year through five years $ 360 $ 355 Due after ten years 6,982 6,982 Total $ 7,342 $ 7,337 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30 , 201 8 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Governmental National Mortgage Association mortgage-backed securities 2 $ 734 $ (1 ) $ - $ - $ 734 $ (1 ) Federal Home Loan Mortgage Corporation mortgage-backed securities 2 - - $ 1,254 $ (32 ) $ 1,254 $ (32 ) Debt securities, U.S. government agency 1 - - 355 (5 ) 355 (5 ) Total 5 $ 734 $ (1 ) $ 1,609 $ (37 ) $ 2,343 $ (38 ) December 31 , 201 7 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Federal Home Loan Mortgage Corporation mortgage-backed securities 2 $ - $ - $ 1,342 $ (35 ) $ 1,342 $ (35 ) Debt securities, U.S. government agency 1 - - 357 (3 ) 357 (3 ) Total 3 $ - $ - $ 1,699 $ (38 ) $ 1,699 $ (38 ) |
Note 6 - Loans Receivable, Ne25
Note 6 - Loans Receivable, Net and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30 , 201 8 December 31, 20 17 Real estate loans: One-to-four family residential: Owner occupied $ 6,965 $ 5,681 Non-owner occupied 47,935 51,833 Total one-to-four family residential 54,900 57,514 Multi-family (five or more) residential 23,663 21,715 Commercial real estate 96,999 92,234 Construction 13,056 15,632 Home equity 4,313 5,129 Total real estate loans 192,931 192,224 Commercial business 17,793 11,954 Other consumer 125 138 Total Loans 210,849 204,316 Deferred loan fees and costs (841 ) (837 ) Allowance for loan losses (1,830 ) (1,812 ) Net Loans $ 208,178 $ 201,667 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30 , 201 8 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,543 $ 180 $ 242 $ - $ 6,965 One-to-four family residential non-owner occupied 47,624 - 311 - 47,935 Multi-family residential 23,663 - - - 23,663 Commercial real estate 95,091 1,908 - - 96,999 Construction 12,774 - 282 - 13,056 Home equity 4,313 - - - 4,313 Commercial business 17,267 526 - - 17,793 Other consumer 125 - - - 125 Total $ 207,400 $ 2,614 $ 835 $ - $ 210,849 December 31, 201 7 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 5,258 $ 423 $ - $ - $ 5,681 One-to-four family residential non-owner occupied 51,372 29 432 - 51,833 Multi-family residential 21,715 - - - 21,715 Commercial real estate 91,549 399 286 - 92,234 Construction 13,563 - 2,069 - 15,632 Home equity 5,129 - - - 5,129 Commercial business 11,419 535 - - 11,954 Other consumer 138 - - - 138 Total $ 200,143 $ 1,386 $ 2,787 $ - $ 204,316 |
Impaired Financing Receivables [Table Text Block] | June 30 , 201 8 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 242 $ 242 $ - $ 242 $ - One-to-four family residential non-owner occupied 323 323 - 325 9 Multi-family residential - - - - - Commercial real estate - - - - - Construction 282 282 - 2,054 - Home equity - - - 44 2 Commercial business - - - - - Other consumer - - - - - With an allowance recorded: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 93 93 20 93 3 Multi-family residential - - - - - Commercial real estate 133 133 5 133 5 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total: One-to-four family residential owner occupied $ 242 $ 242 $ - $ 242 $ - One-to-four family residential non-owner occupied 416 416 20 418 12 Multi-family residential - - - - - Commercial real estate 133 133 5 133 5 Construction 282 282 - 2,054 - Home equity - - - 44 2 Commercial business - - - - - Other consumer - - - - - Total $ 1,073 $ 1,073 $ 25 $ 2,891 $ 19 December 31, 201 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 442 442 - 937 24 Multi-family residential - - - - - Commercial real estate - - - 398 38 Construction 2,069 2,069 - 2,064 58 Home equity 45 45 - 47 5 Commercial business - - - - - Other consumer - - - - - With an allowance recorded: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 214 214 70 214 5 Multi-family residential - - - - - Commercial real estate 133 133 1 395 9 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total: One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 656 656 70 1,151 29 Multi-family residential - - - - - Commercial real estate 133 133 1 793 47 Construction 2,069 2,069 - 2,064 58 Home equity 45 45 - 47 5 Commercial business - - - - - Other consumer - - - - - Total $ 2,903 $ 2,903 $ 71 $ 4,055 $ 139 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | June 30 , 201 8 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied - $ - $ - $ - $ - One-to-four family residential non-owner occupied 3 416 - 416 20 Multi-family residential - - - - - Commercial real estate 1 133 - 133 5 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total 4 $ 549 $ - $ 549 $ 25 December 31, 201 7 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied - $ - $ - $ - $ - One-to-four family residential non-owner occupied 5 536 - 536 25 Multi-family residential - - - - - Commercial real estate 1 133 - 133 1 Construction - - - - - Home equity 2 45 - 45 - Commercial business - - - - - Other consumer - - - - - Total 8 $ 714 $ - $ 714 $ 26 |
Contractual Aging of Troubled Debt Restructurings [Table Text Block] | June 30 , 201 8 Accruing Past Due Less than 30 Days Past Due 30-89 Days 90 Days or More Past Due Non- Accrual Total One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 416 - - - 416 Multi-family residential - - - - - Commercial real estate 133 - - - 133 Construction - - - - - Home equity - - - - - Commercial business - - - - - Other consumer - - - - - Total $ 549 $ - $ - $ - $ 549 December 31, 2017 Accruing Past Due Less than 30 Days Past Due 30-89 Days 90 Days or More Past Due Non- Accrual Total One-to-four family residential owner occupied $ - $ - $ - $ - $ - One-to-four family residential non-owner occupied 536 - - - 536 Multi-family residential - - - - - Commercial real estate 133 - - - 133 Construction - - - - - Home equity 45 - - - 45 Commercial business - - - - - Other consumer - - - - - Total $ 714 $ - $ - $ - $ 714 |
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | June 30, 201 8 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total For the Three Months Ended June 30, 201 8 Allowance for loan losses: Beginning balance $ 54 $ 495 $ 164 $ 720 $ 142 $ 26 $ 170 $ 65 $ 1,836 Charge-offs - - - - (100 ) - - - (100 ) Recoveries - - - - - - - - - Provision 6 (56 ) 2 8 137 (2 ) 31 (32 ) 94 Ending balance $ 60 $ 439 $ 166 $ 728 $ 179 $ 24 $ 201 $ 33 $ 1,830 For the Six Months Ended June 30, 201 8 Allowance for loan losses: Beginning balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Charge-offs - (47 ) - - (100 ) - - - (147 ) Recoveries - - - - - - - - - Provision 12 (54 ) 14 41 143 (3 ) 61 (49 ) 165 Ending balance $ 60 $ 439 $ 166 $ 728 $ 179 $ 24 $ 201 $ 33 $ 1,830 Ending balance evaluated for impairment: Individually $ - $ 20 $ - $ 5 $ - $ - $ - $ - $ 25 Collectively $ 60 $ 419 $ 166 $ 723 $ 179 $ 24 $ 201 $ 33 $ 1,805 Loans receivable: Ending balance: $ 6,965 $ 47,935 $ 23,663 $ 96,999 $ 13,056 $ 4,313 $ 17,918 $ 210,849 Ending balance evaluated for impairment: Individually $ 242 $ 416 $ - $ 133 $ 282 $ - $ - $ 1,073 Collectively $ 6,723 $ 47,519 $ 23,663 $ 96,866 $ 12,774 $ 4,313 $ 17,918 $ 209,776 June 30, 2017 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercia l Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total For the Three Months Ended June 30, 201 7 Allowance for loan losses: Beginning balance $ 44 $ 524 $ 108 $ 612 $ 127 $ 51 $ 94 $ 90 $ 1,650 Charge-offs - - - (24 ) - - - - (24 ) Recoveries - - - - - - - - - Provision 1 (59 ) 48 57 10 (10 ) 17 - 64 Ending balance $ 45 $ 465 $ 156 $ 645 $ 137 $ 41 $ 111 $ 90 $ 1,690 For the Six Months Ended June 30, 201 7 Allowance for loan losses: Beginning balance $ 41 $ 503 $ 103 $ 616 $ 138 $ 37 $ 87 $ 80 $ 1,605 Charge-offs - - - (24 ) - - - - (24 ) Recoveries - - - 3 - - - - 3 Provision 4 (38 ) 53 50 (1 ) 4 24 10 106 Ending balance $ 45 $ 465 $ 156 $ 645 $ 137 $ 41 $ 111 $ 90 $ 1,690 Ending balance evaluated for impairment: Individually $ - $ 21 $ - $ 1 $ - $ - $ - $ - $ 22 Collectively $ 45 $ 444 $ 156 $ 644 $ 137 $ 41 $ 111 $ 90 $ 1,668 December 31, 201 7 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi- Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 41 $ 503 $ 103 $ 616 $ 138 $ 37 $ 87 $ 80 $ 1,605 Charge-offs - (56 ) - (24 ) - - - - (80 ) Recoveries - - - 3 - - - - 3 Provision 7 93 49 92 (2 ) (10 ) 53 2 284 Ending balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Ending balance evaluated for impairment Individually $ - $ 70 $ - $ 1 $ - $ - $ - $ - $ 71 Collectively $ 48 $ 470 $ 152 $ 686 $ 136 $ 27 $ 140 $ 82 $ 1,741 Loans receivable: Ending balance $ 5,681 $ 51,833 $ 21,715 $ 92,234 $ 15,632 $ 5,129 $ 12,092 $ 204,316 Ending balance evaluated for impairment Individually $ - $ 656 $ - $ 133 $ 2,069 $ 45 $ - $ 2,903 Collectively $ 5,681 $ 51,177 $ 21,715 $ 92,101 $ 13,563 $ 5,084 $ 12,092 $ 201,413 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | June 30 , 201 8 December 31, 201 7 One-to-four family residential owner occupied $ 242 $ - One-to-four family residential non-owner occupied - 120 Multi-family residential - - Commercial real estate - - Construction 282 2,069 Home equity - - Commercial business - - Other consumer - - Total $ 524 $ 2,189 |
Past Due Financing Receivables [Table Text Block] | June 30 , 201 8 30- 89 Days Past Due 90 Days or M ore Pas t Due Total Past Due Current Total Loans Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 316 $ 422 $ 738 $ 6,227 $ 6,965 $ 180 One-to-four family residential non-owner occupied 974 81 1,055 46,880 47,935 81 Multi-family residential - - - 23,663 23,663 - Commercial real estate 867 - 867 96,132 96,999 - Construction 353 282 635 12,421 13,056 - Home equity 32 - 32 4,281 4,313 - Commercial business 446 - 446 17,347 17,793 - Other consumer - - - 125 125 - Total $ 2,988 $ 785 $ 3,773 $ 207,076 $ 210,849 $ 261 December 31, 201 7 30- 89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loan s Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 670 $ 423 $ 1,093 $ 4,588 $ 5,681 $ 423 One-to-four family residential non-owner occupied 969 337 1,306 50,527 51,833 217 Multi-family residential 313 - 313 21,402 21,715 - Commercial real estate 505 241 746 91,488 92,234 241 Construction 407 2,069 2,476 13,156 15,632 - Home equity 51 - 51 5,078 5,129 - Commercial business - - - 11,954 11,954 - Other consumer - - - 138 138 - Total $ 2,915 $ 3,070 $ 5,985 $ 198,331 $ 204,316 $ 881 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | June 30 , 201 8 December 31, 201 7 Non-interest bearing checking accounts $ 11,873 $ 7,956 Passbook accounts 303 463 Savings accounts 1,912 2,353 Money market accounts 30,855 30,411 Certificates of deposit 157,055 145,038 Total deposits $ 201,998 $ 186,221 |
Note 9 - Borrowings (Tables)
Note 9 - Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Federal Home Loan Bank Advances [Member] | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | June 30 , 201 8 December 31, 201 7 Amount Weighted Interest Amount Weighted Interest Short-term borrowings $ 10,000 2.10 % $ 10,000 1.54 % Fixed rate borrowings maturing: 2018 3,000 1.46 3,000 1.46 2019 3,000 1.86 3,000 1.86 2020 2,000 2.00 2,000 2.00 2021 3,000 2.05 3,000 2.05 2022 3,000 2.18 3,000 2.18 2023 3,000 2.33 3,000 2.33 2024 1,000 2.54 1,000 2.54 Total FHLB long-term debt $ 18,000 2.01 % $ 18,000 2.01 % |
Note 10 - Stock Compensation 28
Note 10 - Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | June 30, 201 8 June 30 , 201 7 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the period 10,061 $ 8.10 20,524 $ 8.10 Granted 48,608 13.30 - - Vested (9,661 ) 8.10 (10,263 ) 8.10 Forfeited (400 ) 8.10 - - Unvested at the end of the period 48,608 $ 13.30 10,261 $ 8.10 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | 201 8 201 7 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the year 265,302 $ 6.74 3.2 316,348 $ 6.49 3.8 Granted 136,636 13.30 9.9 - - - Exercised (106,844 ) 5.00 - (38,800 ) 5.00 - Forfeited (15,258 ) 6.22 - - - - Outstanding at end of period 279,836 $ 10.64 7.8 277,548 $ 6.70 3.6 Exercisable at end of period 143,200 $ 8.10 4.9 247,228 $ 6.53 3.4 |
Note 11 - Fair Value Measurem29
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | June 30 , 2018 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,272 $ - $ 5,272 $ - Federal Home Loan Mortgage Corporation mortgage-backed securities 1,254 - 1,254 - Federal National Mortgage Association mortgage- backed securities 456 - 456 - Debt securities, U.S. government agency 355 - 355 - Total investment securities available for sale $ 7,337 $ - $ 7,337 $ - Total recurring fair value measurements $ 7,337 $ - $ 7,337 $ - Nonrecurring fair value measurements Impaired loans $ 1,048 $ - $ - $ 1,048 Other real estate owned 1,674 - - 1,674 Total nonrecurring fair value measurements $ 1,722 $ - $ - $ 1,722 Dec ember 3 1, 2017 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,643 $ - $ 5,643 $ - Federal Home Loan Mortgage Corporation mortgage-backed securities 1,342 - 1,342 - Federal National Mortgage Association mortgage- backed securities 570 - 570 - Debt securities, U.S. government agency 357 - 357 - Total investment securities available for sale $ 7,912 $ - $ 7,912 $ - Total recurring fair value measurements $ 7,912 $ - $ 7,912 $ - Nonrecurring fair value measurements Impaired loans $ 2,832 $ - $ - $ 2,832 Total nonrecurring fair value measurements $ 2,832 $ - $ - $ 2,832 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | June 30 , 201 8 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 1,048 Appraisal of collateral (1) Appraisal adjustments (2) 8% - 22% (1%) Other real estate owned $ 1,674 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 6% (6%) December 31, 201 7 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 2,832 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 27% (1%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at June 30 , 201 8 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 18,219 $ 18,219 $ 18,219 $ - $ - Investment in interest-earning time deposits 4,920 4,943 - - 4,943 Loans held for sale 5,199 5,384 5,384 - - Loans receivable, net 208,178 209,716 - - 209,716 Accrued interest receivable 1,013 1,013 1,013 - - Investment in FHLB stock 1,246 1,246 1,246 - - Bank-owned life insurance 3,855 3,855 3,855 - - Financial Liabilities Deposits 201,998 202,732 44,943 - 157,789 FHLB short-term borrowings 10,000 10,000 10,000 - - FHLB long-term borrowings 18,000 16,962 - - 16,962 Accrued interest payable 176 176 176 - - Advances from borrowers for taxes and insurance 2,330 2,330 2,330 - - Fair Value Measurements at December 31, 201 7 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Cash and cash equivalents $ 7,910 $ 7,910 $ 7,910 $ - $ - Investment in interest-earning time deposits 4,879 4,912 - - 4,912 Loans held for sale 7,006 7,232 7,232 - - Loans receivable, net 201,667 202,803 - - 202,803 Accrued interest receivable 1,021 1,021 1,021 - - Investment in FHLB stock 1,234 1,234 1,234 - - Bank-owned life insurance 3,814 3,814 3,814 - - Financial Liabilities Deposits 186,221 187,309 41,183 - 146,126 FHLB short-term borrowings 10,000 10,000 10,000 - - FHLB long-term borrowings 18,000 16,982 - - 16,982 Accrued interest payable 167 167 167 - - Advances from borrowers for taxes and insurance 2,423 2,423 2,423 - - |
Note 1 - Financial Statement 30
Note 1 - Financial Statement Presentation and Significant Accounting Policies (Details Textual) | Aug. 01, 2016USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) |
Number of Wholly-Owned Subsidiaries | 5 | ||||
Number of Subsidiary Branch Offices | 2 | 2 | |||
Threshold for Loans to be Evaluated Annually, Minimum | $ 500,000 | $ 500,000 | |||
Impairment of Federal Home Loan Bank Stock | 0 | $ 0 | 0 | $ 0 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 242,000 | $ 242,000 | |||
Number of Share-Based Plans | 2 | ||||
Accounting Standards Update 2016-02 [Member] | |||||
New Accounting Pronouncement, Estimated Increase in Assets and Liabilities | 1.00% | 1.00% | |||
Signature Insurance Services, LLC [Member] | |||||
Payments to Acquire Businesses, Gross | $ 1,000,000 | ||||
Goodwill, Acquired During Period | 515,000 | ||||
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 485,000 | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Note 2 - Earnings Per Share - W
Note 2 - Earnings Per Share - Weighted Average Shares Used in Basic and Dilutive Earnings Per Share Computations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net Income | $ 535,000 | $ 524,000 | $ 823,000 | $ 695,000 |
Weighted average shares outstanding – basic (in shares) | 1,904,344 | 1,865,612 | 1,903,658 | 1,851,945 |
Effect of dilutive common stock equivalents (in shares) | 59,508 | 142,792 | 59,296 | 141,335 |
Adjusted weighted average shares outstanding – diluted (in shares) | 1,963,852 | 2,008,404 | 1,962,954 | 1,993,280 |
Basic earnings per share (in dollars per share) | $ 0.28 | $ 0.28 | $ 0.43 | $ 0.38 |
Diluted earnings per share (in dollars per share) | $ 0.27 | $ 0.26 | $ 0.42 | $ 0.35 |
Note 3 - Accumulated Other Co32
Note 3 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Balance at the beginning of the period | $ 22,185 | ||||
Balance at the end of the period | $ 22,932 | 22,932 | |||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||
Balance at the beginning of the period | [1] | (3) | $ (25) | (15) | $ (38) |
Other comprehensive income (loss) before classifications | [1] | (1) | 17 | 11 | 30 |
Amount reclassified from accumulated other comprehensive income (loss) | [1] | ||||
Total other comprehensive income (loss) | [1] | (1) | 17 | 11 | 30 |
Balance at the end of the period | [1] | $ (4) | $ (8) | $ (4) | $ (8) |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Note 4 - Investment in Intere33
Note 4 - Investment in Interest-earning Time Deposits - Investment in Interest-earnings Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Due in one year or less | $ 1,604 | $ 761 | |
Due after one year through five years | 3,316 | 4,118 | |
Total | $ 4,920 | $ 4,879 | $ 4,879 |
Note 5 - Investment Securitie34
Note 5 - Investment Securities Available for Sale (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 5 | 5 | 3 | ||
Percentage of Aggregate Depreciation Held by Debt Securities | 1.60% | 1.60% | |||
Other than Temporary Impairment Losses, Investments, Total | $ 0 | $ 0 | $ 0 | $ 0 |
Note 5 - Investment Securitie35
Note 5 - Investment Securities Available for Sale - Amortized Cost and Fair Value of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized cost | $ 7,342 | $ 7,931 |
Gross unrealized gains | 33 | 19 |
Gross unrealized losses | (38) | (38) |
Fair value | 7,337 | 7,912 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 6,982 | 7,571 |
Gross unrealized gains | 33 | 19 |
Gross unrealized losses | (33) | (35) |
Fair value | 6,982 | 7,555 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 360 | 360 |
Gross unrealized gains | ||
Gross unrealized losses | (5) | (3) |
Fair value | 355 | 357 |
Government National Mortgage Association (GNMA) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 5,241 | 5,624 |
Gross unrealized gains | 32 | 19 |
Gross unrealized losses | (1) | |
Fair value | 5,272 | 5,643 |
Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 1,286 | 1,377 |
Gross unrealized gains | ||
Gross unrealized losses | (32) | (35) |
Fair value | 1,254 | 1,342 |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 455 | 570 |
Gross unrealized gains | 1 | |
Gross unrealized losses | ||
Fair value | $ 456 | $ 570 |
Note 5 - Investment Securitie36
Note 5 - Investment Securities Available for Sale - Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Due after one year through five years, amortized cost | $ 360 | |
Due after one year through five years, fair value | 355 | |
Due after ten years, amortized cost | 6,982 | |
Due after ten years, fair value | 6,982 | |
Total, amortized cost | 7,342 | $ 7,931 |
Total, fair value | $ 7,337 | $ 7,912 |
Note 5 - Investment Securitie37
Note 5 - Investment Securities Available for Sale - Gross Unrealized Losses and Fair Value (Details) $ in Thousands | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Number of securities | 5 | 3 |
Fair value, less than twelve months | $ 734 | |
Gross unrealized losses, less than twelve months | (1) | |
Fair value, twelve months or greater | 1,609 | 1,699 |
Gross unrealized losses, twelve months or greater | (37) | (38) |
Fair value | 2,343 | 1,699 |
Gross unrealized losses | (38) | (38) |
Fair value | $ 2,343 | $ 1,699 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Number of securities | 2 | |
Fair value, less than twelve months | $ 734 | |
Gross unrealized losses, less than twelve months | (1) | |
Fair value, twelve months or greater | ||
Gross unrealized losses, twelve months or greater | ||
Fair value | 734 | |
Gross unrealized losses | (1) | |
Fair value | $ 734 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | ||
Number of securities | 2 | 2 |
Fair value, less than twelve months | ||
Gross unrealized losses, less than twelve months | ||
Fair value, twelve months or greater | 1,254 | 1,342 |
Gross unrealized losses, twelve months or greater | (32) | (35) |
Fair value | 1,254 | 1,342 |
Gross unrealized losses | (32) | (35) |
Fair value | $ 1,254 | $ 1,342 |
US Government Agencies Debt Securities [Member] | ||
Number of securities | 1 | 1 |
Fair value, less than twelve months | ||
Gross unrealized losses, less than twelve months | ||
Fair value, twelve months or greater | 355 | 357 |
Gross unrealized losses, twelve months or greater | (5) | (3) |
Fair value | 355 | 357 |
Gross unrealized losses | (5) | (3) |
Fair value | $ 355 | $ 357 |
Note 6 - Loans Receivable, Ne38
Note 6 - Loans Receivable, Net and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Troubled Debt Restructuring, Number of Contracts | 4 | 4 | 8 | ||
Financing Receivable, Modifications, Recorded Investment | $ 549,000 | $ 549,000 | $ 714,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | ||||
Financing Receivable, Modifications, Number of Contracts Paid-off | 4 | ||||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | $ 0 | |||
Loans and Leases Receivable, Gross, Total | 210,849,000 | 210,849,000 | 204,316,000 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | 0 | $ 0 | 0 | $ 0 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 9,000 | $ 30,000 | 18,000 | $ 55,000 | |
Nonperforming Financial Instruments [Member] | |||||
Loans and Leases Receivable, Gross, Total | $ 785,000 | $ 785,000 | $ 3,100,000 |
Note 6 - Loans Receivable, Ne39
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Composition of Net Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans | $ 210,849 | $ 204,316 | ||||
Deferred loan fees and costs | (841) | (837) | ||||
Allowance for loan losses | (1,830) | $ (1,836) | (1,812) | $ (1,690) | $ (1,650) | $ (1,605) |
Net Loans | 208,178 | 201,667 | ||||
Real Estate Portfolio Segment [Member] | ||||||
Loans | 192,931 | 192,224 | ||||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||||||
Loans | 6,965 | 5,681 | ||||
Allowance for loan losses | (60) | (54) | (48) | (45) | (44) | (41) |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||||||
Loans | 47,935 | 51,833 | ||||
Allowance for loan losses | (439) | (495) | (540) | (465) | (524) | (503) |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Loans [Member] | ||||||
Loans | 54,900 | 57,514 | ||||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||||||
Loans | 23,663 | 21,715 | ||||
Allowance for loan losses | (166) | (164) | (152) | (156) | (108) | (103) |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||||||
Loans | 96,999 | 92,234 | ||||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans | 13,056 | 15,632 | ||||
Allowance for loan losses | (179) | (142) | (136) | (137) | (127) | (138) |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||||||
Loans | 4,313 | 5,129 | ||||
Allowance for loan losses | (24) | $ (26) | (27) | $ (41) | $ (51) | $ (37) |
Commercial Portfolio Segment [Member] | ||||||
Loans | 17,793 | 11,954 | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans | $ 125 | $ 138 |
Note 6 - Loans Receivable, Ne40
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Loan Portfolio by Credit Rating (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans | $ 210,849 | $ 204,316 |
Pass [Member] | ||
Loans | 207,400 | 200,143 |
Special Mention [Member] | ||
Loans | 2,614 | 1,386 |
Substandard [Member] | ||
Loans | 835 | 2,787 |
Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | ||
Loans | 192,931 | 192,224 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Loans | 6,965 | 5,681 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Pass [Member] | ||
Loans | 6,543 | 5,258 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Special Mention [Member] | ||
Loans | 180 | 423 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Substandard [Member] | ||
Loans | 242 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Loans | 47,935 | 51,833 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Pass [Member] | ||
Loans | 47,624 | 51,372 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Special Mention [Member] | ||
Loans | 29 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Substandard [Member] | ||
Loans | 311 | 432 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Loans | 23,663 | 21,715 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Pass [Member] | ||
Loans | 23,663 | 21,715 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Substandard [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Loans | 96,999 | 92,234 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Pass [Member] | ||
Loans | 95,091 | 91,549 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Special Mention [Member] | ||
Loans | 1,908 | 399 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Substandard [Member] | ||
Loans | 286 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 13,056 | 15,632 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Loans | 12,774 | 13,563 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Loans | 282 | 2,069 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans | 4,313 | 5,129 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Pass [Member] | ||
Loans | 4,313 | 5,129 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Substandard [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Doubtful [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | 17,793 | 11,954 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 17,267 | 11,419 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 526 | 535 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans | 125 | 138 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 125 | 138 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans |
Note 6 - Loans Receivable, Ne41
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Impaired Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Related allowance | $ 25 | $ 71 |
Recorded investment | 1,073 | 2,903 |
Unpaid principal balance | 1,073 | 2,903 |
Average recorded investment | 2,891 | 4,055 |
Interest income recognized | 19 | 139 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Recorded investment, with no related allowance recorded | 242 | |
Unpaid principal balance, with no related allowance recorded | 242 | |
Average recorded investment, with no related allowance recorded | 242 | |
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | 242 | |
Unpaid principal balance | 242 | |
Average recorded investment | 242 | |
Interest income recognized | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Recorded investment, with no related allowance recorded | 323 | 442 |
Unpaid principal balance, with no related allowance recorded | 323 | 442 |
Average recorded investment, with no related allowance recorded | 325 | 937 |
Interest income recognized, with no related allowance recorded | 9 | 24 |
Recorded investment, with an allowance recorded | 93 | 214 |
Unpaid principal balance, with an allowance recorded | 93 | 214 |
Related allowance | 20 | 70 |
Average recorded investment, with an allowance recorded | 93 | 214 |
Interest income recognized, with an allowance recorded | 3 | 5 |
Recorded investment | 416 | 656 |
Unpaid principal balance | 416 | 656 |
Average recorded investment | 418 | 1,151 |
Interest income recognized | 12 | 29 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | 398 | |
Interest income recognized, with no related allowance recorded | 38 | |
Recorded investment, with an allowance recorded | 133 | 133 |
Unpaid principal balance, with an allowance recorded | 133 | 133 |
Related allowance | 5 | 1 |
Average recorded investment, with an allowance recorded | 133 | 395 |
Interest income recognized, with an allowance recorded | 5 | 9 |
Recorded investment | 133 | 133 |
Unpaid principal balance | 133 | 133 |
Average recorded investment | 133 | 793 |
Interest income recognized | 5 | 47 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded investment, with no related allowance recorded | 282 | 2,069 |
Unpaid principal balance, with no related allowance recorded | 282 | 2,069 |
Average recorded investment, with no related allowance recorded | 2,054 | 2,064 |
Interest income recognized, with no related allowance recorded | 58 | |
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | 282 | 2,069 |
Unpaid principal balance | 282 | 2,069 |
Average recorded investment | 2,054 | 2,064 |
Interest income recognized | 58 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Recorded investment, with no related allowance recorded | 45 | |
Unpaid principal balance, with no related allowance recorded | 45 | |
Average recorded investment, with no related allowance recorded | 44 | 47 |
Interest income recognized, with no related allowance recorded | 2 | 5 |
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | 45 | |
Unpaid principal balance | 45 | |
Average recorded investment | 44 | 47 |
Interest income recognized | 2 | 5 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized | ||
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized |
Note 6 - Loans Receivable, Ne42
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Troubled Debt Restructuring Loans (Details) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Troubled debt restructuring, number of contracts | 4 | 8 |
Troubled debt restructuring, recorded investment | $ 549,000 | $ 714,000 |
Troubled debt restructuring, related allowance | 25,000 | 26,000 |
Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 549,000 | $ 714,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Troubled debt restructuring, number of contracts | 3 | 5 |
Troubled debt restructuring, recorded investment | $ 416,000 | $ 536,000 |
Troubled debt restructuring, related allowance | 20,000 | 25,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 416,000 | $ 536,000 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Troubled debt restructuring, number of contracts | 1 | 1 |
Troubled debt restructuring, recorded investment | $ 133,000 | $ 133,000 |
Troubled debt restructuring, related allowance | 5,000 | 1,000 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 133,000 | $ 133,000 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Troubled debt restructuring, number of contracts | 2 | |
Troubled debt restructuring, recorded investment | $ 45,000 | |
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 45,000 | |
Commercial Portfolio Segment [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Commercial Portfolio Segment [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Commercial Portfolio Segment [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Consumer Portfolio Segment [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Consumer Portfolio Segment [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Consumer Portfolio Segment [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment |
Note 6 - Loans Receivable, Ne43
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Contractual Aging of the TDRs (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 549,000 | 714,000 |
Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 549,000 | 714,000 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 416,000 | 536,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 416,000 | 536,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 133,000 | 133,000 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 133,000 | 133,000 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 45,000 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 45,000 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Commercial Portfolio Segment [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Consumer Portfolio Segment [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due |
Note 6 - Loans Receivable, Ne44
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Changes in the Allowance for Loan Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Allowance for loan losses, beginning balance | $ 1,836 | $ 1,650 | $ 1,812 | $ 1,605 | $ 1,605 |
Charge-offs | (100) | (24) | (147) | (24) | (80) |
Recoveries | 3 | 3 | |||
Provision | 94 | 64 | 165 | 106 | 284 |
Allowance for loan losses, ending balance | 1,830 | 1,690 | 1,830 | 1,690 | 1,812 |
Allowance for loan losses, individually evaluated for impairment | 25 | 22 | 25 | 22 | 71 |
Allowance for loan losses, collectively evaluated for impairment | 1,805 | 1,668 | 1,805 | 1,668 | 1,741 |
Loans | 210,849 | 210,849 | 204,316 | ||
Loans receivable, individually evaluated for impairment | 1,073 | 1,073 | 2,903 | ||
Loans receivable, collectively evaluated for impairment | 209,776 | 209,776 | 201,413 | ||
Real Estate Portfolio Segment [Member] | |||||
Loans | 192,931 | 192,931 | 192,224 | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | |||||
Allowance for loan losses, beginning balance | 54 | 44 | 48 | 41 | 41 |
Charge-offs | |||||
Recoveries | |||||
Provision | 6 | 1 | 12 | 4 | 7 |
Allowance for loan losses, ending balance | 60 | 45 | 60 | 45 | 48 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 60 | 45 | 60 | 45 | 48 |
Loans | 6,965 | 6,965 | 5,681 | ||
Loans receivable, individually evaluated for impairment | 242 | 242 | |||
Loans receivable, collectively evaluated for impairment | 6,723 | 6,723 | 5,681 | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | |||||
Allowance for loan losses, beginning balance | 495 | 524 | 540 | 503 | 503 |
Charge-offs | (47) | (56) | |||
Recoveries | |||||
Provision | (56) | (59) | (54) | (38) | 93 |
Allowance for loan losses, ending balance | 439 | 465 | 439 | 465 | 540 |
Allowance for loan losses, individually evaluated for impairment | 20 | 21 | 20 | 21 | 70 |
Allowance for loan losses, collectively evaluated for impairment | 419 | 444 | 419 | 444 | 470 |
Loans | 47,935 | 47,935 | 51,833 | ||
Loans receivable, individually evaluated for impairment | 416 | 416 | 656 | ||
Loans receivable, collectively evaluated for impairment | 47,519 | 47,519 | 51,177 | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | |||||
Allowance for loan losses, beginning balance | 164 | 108 | 152 | 103 | 103 |
Charge-offs | |||||
Recoveries | |||||
Provision | 2 | 48 | 14 | 53 | 49 |
Allowance for loan losses, ending balance | 166 | 156 | 166 | 156 | 152 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 166 | 156 | 166 | 156 | 152 |
Loans | 23,663 | 23,663 | 21,715 | ||
Loans receivable, individually evaluated for impairment | |||||
Loans receivable, collectively evaluated for impairment | 23,663 | 23,663 | 21,715 | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate and Lines of Credit [Member] | |||||
Allowance for loan losses, beginning balance | 720 | 612 | 687 | 616 | 616 |
Charge-offs | (24) | (24) | (24) | ||
Recoveries | 3 | 3 | |||
Provision | 8 | 57 | 41 | 50 | 92 |
Allowance for loan losses, ending balance | 728 | 645 | 728 | 645 | 687 |
Allowance for loan losses, individually evaluated for impairment | 5 | 1 | 5 | 1 | 1 |
Allowance for loan losses, collectively evaluated for impairment | 723 | 644 | 723 | 644 | 686 |
Loans | 96,999 | 96,999 | 92,234 | ||
Loans receivable, individually evaluated for impairment | 133 | 133 | 133 | ||
Loans receivable, collectively evaluated for impairment | 96,866 | 96,866 | 92,101 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Allowance for loan losses, beginning balance | 142 | 127 | 136 | 138 | 138 |
Charge-offs | (100) | (100) | |||
Recoveries | |||||
Provision | 137 | 10 | 143 | (1) | (2) |
Allowance for loan losses, ending balance | 179 | 137 | 179 | 137 | 136 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 179 | 137 | 179 | 137 | 136 |
Loans | 13,056 | 13,056 | 15,632 | ||
Loans receivable, individually evaluated for impairment | 282 | 282 | 2,069 | ||
Loans receivable, collectively evaluated for impairment | 12,774 | 12,774 | 13,563 | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Allowance for loan losses, beginning balance | 26 | 51 | 27 | 37 | 37 |
Charge-offs | |||||
Recoveries | |||||
Provision | (2) | (10) | (3) | 4 | (10) |
Allowance for loan losses, ending balance | 24 | 41 | 24 | 41 | 27 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 24 | 41 | 24 | 41 | 27 |
Loans | 4,313 | 4,313 | 5,129 | ||
Loans receivable, individually evaluated for impairment | 45 | ||||
Loans receivable, collectively evaluated for impairment | 4,313 | 4,313 | 5,084 | ||
Commercial and Consumer Portfolio Segments [Member] | |||||
Allowance for loan losses, beginning balance | 170 | 94 | 140 | 87 | 87 |
Charge-offs | |||||
Recoveries | |||||
Provision | 31 | 17 | 61 | 24 | 53 |
Allowance for loan losses, ending balance | 201 | 111 | 201 | 111 | 140 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 201 | 111 | 201 | 111 | 140 |
Loans | 17,918 | 17,918 | 12,092 | ||
Loans receivable, individually evaluated for impairment | |||||
Loans receivable, collectively evaluated for impairment | 17,918 | 17,918 | 12,092 | ||
Unallocated Financing Receivables [Member] | |||||
Allowance for loan losses, beginning balance | 65 | 90 | 82 | 80 | 80 |
Charge-offs | |||||
Recoveries | |||||
Provision | (32) | (49) | 10 | 2 | |
Allowance for loan losses, ending balance | 33 | 90 | 33 | 90 | 82 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 33 | $ 90 | 33 | $ 90 | 82 |
Loans | |||||
Loans receivable, individually evaluated for impairment | |||||
Loans receivable, collectively evaluated for impairment |
Note 6 - Loans Receivable, Ne45
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Non-accrual Loans by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans | $ 524 | $ 2,189 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Loans | 242 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Loans | 120 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 282 | 2,069 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans |
Note 6 - Loans Receivable, Ne46
Note 6 - Loans Receivable, Net and Allowance for Loan Losses - Loan Portfolio Summarized by Past Due Status (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans, past due | $ 3,773 | $ 5,985 |
Loans, current | 207,076 | 198,331 |
Loans | 210,849 | 204,316 |
Loans > 90 days and accruing | 261 | 881 |
The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 2,988 | 2,915 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 785 | 3,070 |
Real Estate Portfolio Segment [Member] | ||
Loans | 192,931 | 192,224 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Loans, past due | 738 | 1,093 |
Loans, current | 6,227 | 4,588 |
Loans | 6,965 | 5,681 |
Loans > 90 days and accruing | 180 | 423 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 316 | 670 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 422 | 423 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Loans, past due | 1,055 | 1,306 |
Loans, current | 46,880 | 50,527 |
Loans | 47,935 | 51,833 |
Loans > 90 days and accruing | 81 | 217 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 974 | 969 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 81 | 337 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Loans, past due | 313 | |
Loans, current | 23,663 | 21,402 |
Loans | 23,663 | 21,715 |
Loans > 90 days and accruing | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 313 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Loans, past due | 867 | 746 |
Loans, current | 96,132 | 91,488 |
Loans | 96,999 | 92,234 |
Loans > 90 days and accruing | 241 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 867 | 505 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 241 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans, past due | 635 | 2,476 |
Loans, current | 12,421 | 13,156 |
Loans | 13,056 | 15,632 |
Loans > 90 days and accruing | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 353 | 407 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 282 | 2,069 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans, past due | 32 | 51 |
Loans, current | 4,281 | 5,078 |
Loans | 4,313 | 5,129 |
Loans > 90 days and accruing | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 32 | 51 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Portfolio Segment [Member] | ||
Loans, past due | 446 | |
Loans, current | 17,347 | 11,954 |
Loans | 17,793 | 11,954 |
Loans > 90 days and accruing | ||
Commercial Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 446 | |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Consumer Portfolio Segment [Member] | ||
Loans, past due | ||
Loans, current | 125 | 138 |
Loans | 125 | 138 |
Loans > 90 days and accruing | ||
Consumer Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due |
Note 7 - Goodwill and Other I47
Note 7 - Goodwill and Other Intangible, Net (Details Textual) - USD ($) | Aug. 01, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 392,000 | $ 392,000 | $ 416,000 | |||
Amortization of Intangible Assets, Total | 12,000 | $ 12,000 | 24,000 | $ 24,000 | ||
Other Intangible Assets [Member] | ||||||
Finite-Lived Intangible Assets, Net, Ending Balance | 392,000 | 392,000 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 93,000 | $ 93,000 | ||||
Signature Insurance Services, LLC [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 1,000,000 | |||||
Goodwill, Acquired During Period | 515,000 | |||||
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member] | ||||||
Finite-lived Intangible Assets Acquired | $ 485,000 | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Note 8 - Deposits - Summary of
Note 8 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Non-interest bearing checking accounts, amount | $ 11,873 | $ 7,956 |
Money market accounts, amount | 30,855 | 30,411 |
Certificates of deposit | 157,055 | 145,038 |
Total deposits | 201,998 | 186,221 |
Passbook Accounts [Member] | ||
Interest-bearing deposits, amount | 303 | 463 |
Savings Accounts [Member] | ||
Interest-bearing deposits, amount | $ 1,912 | $ 2,353 |
Note 9 - Borrowings - Federal H
Note 9 - Borrowings - Federal Home Loan Bank Long-term Borrowings (Details) - USD ($) $ in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Short-term borrowings, amount | $ 10 | $ 10 |
Short-term borrowings, , weighted interest rate | 2.10% | 1.54% |
2018, amount | $ 3 | $ 3 |
2018, weighted interest rate | 1.46% | 1.46% |
2019, amount | $ 3 | $ 3 |
2019, weighted interest rate | 1.86% | 1.86% |
2020, amount | $ 2 | $ 2 |
2020, weighted interest rate | 2.00% | 2.00% |
2021, amount | $ 3 | $ 3 |
2021, weighted interest rate | 2.05% | 2.05% |
2022, amount | $ 3 | $ 3 |
2022, weighted interest rate | 2.18% | 2.18% |
2023, amount | $ 3 | $ 3 |
2023, weighted interest rate | 2.33% | 2.33% |
2024, amount | $ 1 | $ 1 |
2024, weighted interest rate | 2.54% | 2.54% |
Total FHLB long-term debt, amount | $ 18 | $ 18 |
Total FHLB long-term debt, weighted interest rate | 2.01% | 2.01% |
Note 10 - Stock Compensation 50
Note 10 - Stock Compensation Plans (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
May 31, 2018 | May 31, 2013 | May 31, 2008 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2007 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 48,000 | $ 47,000 | $ 96,000 | $ 92,000 | |||||||
Restricted Stock [Member] | |||||||||||
Allocated Share-based Compensation Expense, Total | 9,000 | $ 14,000 | $ 42,000 | 42,000 | |||||||
Employee Stock Option [Member] | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 328 days | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||
Allocated Share-based Compensation Expense, Net of Tax | $ 19,000 | $ 22,000 | |||||||||
Employee Service Share-based Compensation, Tax Expense from Compensation Expense | 1,000 | ||||||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 2,000 | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 127,000 | $ 127,000 | |||||||||
Employee Stock Option [Member] | Minimum [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||
The 2008 Recognition and Retention Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | 111,090 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $ 4.68 | ||||||||||
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $ 520,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 195,000 | ||||||||||
The 2013 Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 48,750 | ||||||||||
Percentage of Shares May Be Granted As Restricted Stock Awards | 25.00% | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | |||||||||
The 2013 Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 146,250 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 146,250 | ||||||||||
The 2018 Stock Incentive Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 155,000 | ||||||||||
The 2018 Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 37,750 | ||||||||||
Percentage of Shares May Be Granted As Restricted Stock Awards | 25.00% | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 11,750 | 11,750 | |||||||||
The 2018 Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 117,250 | ||||||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 48,608 | 48,608 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 630,000 | $ 630,000 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 328 days | ||||||||||
Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 38,250 | 38,250 | |||||||||
The RRP and Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 48,608 | 10,261 | 48,608 | 10,261 | 10,061 | 20,524 | |||||
The RRP and Stock Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||
The 2008 Stock Option Plan [Member] | Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 277,726 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 5 | ||||||||||
The Option Plan and Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 136,636 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 5 | $ 5 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 279,836 | 277,548 | 279,836 | 277,548 | 265,302 | 316,348 | |||||
Employee Stock Ownership Plan [Member] | |||||||||||
Percentage of Company Shares Purchased by ESOP | 8.00% | ||||||||||
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | 222,180 | ||||||||||
ESOP Loan Interest Rate | 7.75% | ||||||||||
Employee Stock Ownership Plan (ESOP), Loan Term | 15 years |
Note 10 - Stock Compensation 51
Note 10 - Stock Compensation Plans - Status of Shares Under the RRP and Stock Incentive Plan (Details) - The RRP and Stock Incentive Plan [Member] - Restricted Stock [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Unvested at the beginning of the period (in shares) | 10,061 | 20,524 |
Unvested at the beginning of the period (in dollars per share) | $ 8.10 | $ 8.10 |
Granted, number of shares (in shares) | 48,608 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 13.30 | |
Vested, number of shares (in shares) | (9,661) | (10,263) |
Vested, weighted average grant date fair value (in dollars per share) | $ 8.10 | $ 8.10 |
Forfeited, number of shares (in shares) | (400) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 8.10 | |
Unvested at the end of the period (in shares) | 48,608 | 10,261 |
Unvested at the end of the period (in dollars per share) | $ 13.30 | $ 8.10 |
Note 10 - Stock Compensation 52
Note 10 - Stock Compensation Plans - Summary of Option Activity (Details) - Employee Stock Option [Member] - The Option Plan and Stock Incentive Plan [Member] - $ / shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding at the beginning of the year, number of shares (in shares) | 265,302 | 316,348 | 316,348 | |
Outstanding at the beginning of the year, weighted average exercise price (in dollars per share) | $ 6.74 | $ 6.49 | $ 6.49 | |
Outstanding at the beginning of the year, weighted average remaining contractual life (Year) | 7 years 292 days | 3 years 219 days | 3 years 73 days | 3 years 292 days |
Granted, number of shares (in shares) | 136,636 | |||
Granted, weighted average exercise price (in dollars per share) | $ 13.30 | |||
Granted, weighted average remaining contractual life (Year) | 9 years 328 days | |||
Exercised, number of shares (in shares) | (106,844) | (38,800) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 5 | $ 5 | ||
Forfeited, number of shares (in shares) | (15,258) | |||
Forfeited, weighted average exercise price (in dollars per share) | $ 6.22 | |||
Outstanding at end of period, number of shares (in shares) | 279,836 | 277,548 | 265,302 | 316,348 |
Outstanding at end of period, weighted average exercise price (in dollars per share) | $ 10.64 | $ 6.70 | $ 6.74 | $ 6.49 |
Exercisable at end of period, number of shares (in shares) | 143,200 | 247,228 | ||
Exercisable at end of period, weighted average exercise price (in dollars per share) | $ 8.10 | $ 6.53 | ||
Exercisable at end of period, weighted average remaining contractual life (Year) | 4 years 328 days | 3 years 146 days |
Note 11 - Fair Value Measurem53
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments - Financial Assets and Liabilities on a Recurring and Nonrecurring (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Fair value | $ 7,337,000 | $ 7,912,000 |
Fair Value, Measurements, Recurring [Member] | ||
Fair value | 7,337,000 | 7,912,000 |
Total recurring fair value measurements | 7,337,000 | 7,912,000 |
Total nonrecurring fair value measurements | 7,337,000 | 7,912,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
Total recurring fair value measurements | ||
Total nonrecurring fair value measurements | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 7,337,000 | 7,912,000 |
Total recurring fair value measurements | 7,337,000 | 7,912,000 |
Total nonrecurring fair value measurements | 7,337,000 | 7,912,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
Total recurring fair value measurements | ||
Total nonrecurring fair value measurements | ||
Fair Value, Measurements, Nonrecurring [Member] | ||
Total recurring fair value measurements | 1,722 | 2,832,000 |
Impaired loans | 1,048,000 | 2,832,000 |
Other real estate owned | 1,674,000 | |
Total nonrecurring fair value measurements | 1,722 | 2,832,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total recurring fair value measurements | ||
Impaired loans | ||
Other real estate owned | ||
Total nonrecurring fair value measurements | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total recurring fair value measurements | ||
Impaired loans | ||
Other real estate owned | ||
Total nonrecurring fair value measurements | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total recurring fair value measurements | 1,722 | 2,832,000 |
Impaired loans | 1,048,000 | 2,832,000 |
Other real estate owned | 1,674,000 | |
Total nonrecurring fair value measurements | 1,722 | 2,832,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair value | 6,982,000 | 7,555,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | ||
Fair value | 5,272,000 | 5,643,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 5,272,000 | 5,643,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 5,272,000 | 5,643,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | ||
Fair value | 1,254,000 | 1,342,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 1,254,000 | 1,342,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 1,254,000 | 1,342,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||
Fair value | 456,000 | 570,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 456,000 | 570,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 456,000 | 570,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value | ||
US Government Agencies Debt Securities [Member] | ||
Fair value | 355,000 | 357,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair value | 355,000 | 357,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value | 355,000 | 357,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value |
Note 11 - Fair Value Measurem54
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments - Additional Quantitative Information About Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Appraisal of Collateral [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | ||
Total fair value | $ 1,048 | $ 2,832 | |
Valuation techniques | [1] | Appraisal of collateral | Appraisal of collateral |
Unobservable input | [2] | Appraisal adjustments | Appraisal adjustments |
Other real estate owned, fair value | $ 1,674 | ||
Minimum [Member] | Meaurement Input, Appraisal Adjustments Rate [Member] | |||
Unobservable input, range | 0.08 | 0 | |
Unobservable input, range | 0 | ||
Maximum [Member] | Meaurement Input, Appraisal Adjustments Rate [Member] | |||
Unobservable input, range | 0.22 | 0.27 | |
Unobservable input, range | 0.06 | ||
Weighted Average [Member] | Meaurement Input, Appraisal Adjustments Rate [Member] | |||
Unobservable input, range | 0.01 | 0.01 | |
Unobservable input, range | 0.06 | ||
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are identifiable. | ||
[2] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. |
Note 11 - Fair Value Measurem55
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair value | $ 7,337 | $ 7,912 |
Accrued interest receivable | 1,013 | 1,021 |
Bank-owned life insurance | 3,855 | 3,814 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 18,219 | 7,910 |
Investment in interest-earning time deposits | 4,920 | 4,879 |
Fair value | 5,199 | 7,006 |
Loans receivable, net | 208,178 | 201,667 |
Accrued interest receivable | 1,013 | 1,021 |
Investment in FHLB stock | 1,246 | 1,234 |
Bank-owned life insurance | 3,855 | 3,814 |
Deposits | 201,998 | 186,221 |
FHLB short-term borrowings | 10,000 | 10,000 |
FHLB long-term borrowings | 18,000 | 18,000 |
Accrued interest payable | 176 | 167 |
Advances from borrowers for taxes and insurance | 2,330 | 2,423 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 18,219 | 7,910 |
Investment in interest-earning time deposits | 4,943 | 4,912 |
Fair value | 5,384 | 7,232 |
Loans receivable, net | 209,716 | 202,803 |
Accrued interest receivable | 1,013 | 1,021 |
Investment in FHLB stock | 1,246 | 1,234 |
Bank-owned life insurance | 3,855 | 3,814 |
Deposits | 202,732 | 187,309 |
FHLB short-term borrowings | 10,000 | 10,000 |
FHLB long-term borrowings | 16,962 | 16,982 |
Accrued interest payable | 176 | 167 |
Advances from borrowers for taxes and insurance | 2,330 | 2,423 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 18,219 | 7,910 |
Investment in interest-earning time deposits | ||
Fair value | 5,384 | 7,232 |
Loans receivable, net | ||
Accrued interest receivable | 1,013 | 1,021 |
Investment in FHLB stock | 1,246 | 1,234 |
Bank-owned life insurance | 3,855 | 3,814 |
Deposits | 44,943 | 41,183 |
FHLB short-term borrowings | 10,000 | 10,000 |
FHLB long-term borrowings | ||
Accrued interest payable | 176 | 167 |
Advances from borrowers for taxes and insurance | 2,330 | 2,423 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Investment in interest-earning time deposits | ||
Fair value | ||
Loans receivable, net | ||
Accrued interest receivable | ||
Investment in FHLB stock | ||
Bank-owned life insurance | ||
Deposits | ||
FHLB short-term borrowings | ||
FHLB long-term borrowings | ||
Accrued interest payable | ||
Advances from borrowers for taxes and insurance | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Investment in interest-earning time deposits | 4,943 | 4,912 |
Fair value | ||
Loans receivable, net | 209,716 | 202,803 |
Accrued interest receivable | ||
Investment in FHLB stock | ||
Bank-owned life insurance | ||
Deposits | 157,789 | 146,126 |
FHLB short-term borrowings | ||
FHLB long-term borrowings | 16,962 | 16,982 |
Accrued interest payable | ||
Advances from borrowers for taxes and insurance |