Territorial Bancorp (TBNK) 10-Q 12 May 23 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 30, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Entity File Number	001-34403
Entity Registrant Name	Territorial Bancorp Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-4674701
Entity Address, Address Line One	1003 Bishop Street, Pauahi Tower Suite 500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	946-1400
Title of 12(b) Security	Common stock
Trading Symbol	TBNK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,924,931
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001447051
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 84,860	$ 40,553
Investment securities available for sale, at fair value	21,073	20,821
Investment securities held to maturity, at amortized cost (fair value of $602,045 and $591,084 at March 31, 2023 and December 31, 2022, respectively)	715,601	717,773
Loans receivable, net	1,291,310
Loans receivable, net		1,294,764
Federal Home Loan Bank stock, at cost	12,444	8,197
Federal Reserve Bank stock, at cost	3,177	3,170
Accrued interest receivable	6,128	6,115
Premises and equipment, net	7,422	7,599
Right-of-use asset, net	13,901	14,498
Bank-owned life insurance	47,986	47,783
Deferred income tax assets, net	2,097	1,643
Prepaid expenses and other assets	6,828	6,676
Total assets	2,212,827	2,169,592
Liabilities:
Deposits	1,661,973	1,716,152
Advances from the Federal Home Loan Bank	246,000	141,000
Securities sold under agreements to repurchase	10,000	10,000
Accounts payable and accrued expenses	22,453	24,180
Lease liability	14,720	15,295
Income taxes payable	1,034	838
Advance payments by borrowers for taxes and insurance	2,886	5,577
Total liabilities	1,959,066	1,913,042
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $0.01 par value; authorized 50,000,000 shares, no shares issued or outstanding
Common stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding 9,006,551 and 9,071,076 shares at March 31, 2023 and December 31, 2022, respectively	90	91
Additional paid-in capital	50,556	51,825
Unearned ESOP shares	(2,814)	(2,936)
Retained earnings	213,336	215,314
Accumulated other comprehensive loss	(7,407)	(7,744)
Total stockholders' equity	253,761	256,550
Total liabilities and stockholders' equity	$ 2,212,827	$ 2,169,592

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Consolidated Balance Sheets
Investment securities held to maturity, fair value (in dollars)	$ 602,045	$ 591,084
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	100,000,000	100,000,000
Common stock, shares issued	9,006,551	9,071,076
Common stock, shares outstanding	9,006,551	9,071,076

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income:
Loans	$ 11,454	$ 11,357
Investment securities	4,540	3,423
Other investments	727	176
Total interest income	16,721	14,956
Interest expense:
Deposits	3,530	597
Advances from the Federal Home Loan Bank	1,054	511
Securities sold under agreements to repurchase	46	44
Total interest expense	4,630	1,152
Net interest income	12,091	13,804
Reversal of provision for credit losses	(100)
Reversal of provision for credit losses		(168)
Net interest income after reversal of provision for credit losses	12,191	13,972
Noninterest income:
Service and other fees	310	341
Income on bank-owned life insurance	203	197
Net gain on sale of loans	1	18
Other	75	1,097
Total noninterest income	589	1,653
Noninterest expense:
Salaries and employee benefits	5,404	5,613
Occupancy	1,623	1,594
Equipment	1,312	1,196
Federal deposit insurance premiums	245	141
Other general and administrative expenses	1,029	1,054
Total noninterest expense	9,613	9,598
Income before income taxes	3,167	6,027
Income taxes	851	1,317
Net income	$ 2,316	$ 4,710
Basic earnings per share (in dollars per share)	$ 0.26	$ 0.52
Diluted earnings per share (in dollars per share)	0.26	0.52
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.23
Basic weighted-average shares outstanding (in shares)	8,774,634	8,980,135
Diluted weighted-average shares outstanding (in shares)	8,806,744	9,014,454

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Consolidated Statements of Comprehensive Income
Net income	$ 2,316	$ 4,710
Unrealized gain (loss) on securities	337	(103)
Total other comprehensive income (loss), net of tax	337	(103)
Comprehensive income	$ 2,653	$ 4,607

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Unearned ESOP Shares	Retained Earnings	Accumulated Other Comprehensive (Loss)/Income	Total
Balance at Dec. 31, 2021	$ 93	$ 56,951	$ (3,425)	$ 208,227	$ (5,524)	$ 256,322
Balance (in shares) at Dec. 31, 2021	9,324,060
Increase (Decrease) in Stockholders' Equity
Net income				4,710		4,710
Other comprehensive (loss) income					(103)	(103)
Cash dividends declared				(2,055)		(2,055)
Share-based compensation		134				134
Share-based compensation (in shares)	15,671
Allocation of ESOP shares		182	122			304
Repurchase of shares of common stock		(1,330)				(1,330)
Repurchase of shares of common stock (in shares)	(53,741)
Balance at Mar. 31, 2022	$ 93	55,937	(3,303)	210,882	(5,627)	257,982
Balance (in shares) at Mar. 31, 2022	9,285,990
Balance at Dec. 31, 2022	$ 91	51,825	(2,936)	215,314	(7,744)	256,550
Balance (in shares) at Dec. 31, 2022	9,071,076
Increase (Decrease) in Stockholders' Equity
Net income				2,316		2,316
Other comprehensive (loss) income					337	337
Cumulative change in accounting principle (1)				(2,319)		(2,319)
Cash dividends declared				(1,975)		(1,975)
Share-based compensation		(42)				(42)
Share-based compensation (in shares)	4,540
Allocation of ESOP shares		159	122			281
Repurchase of shares of common stock	$ (1)	(1,386)				(1,387)
Repurchase of shares of common stock (in shares)	(69,065)
Balance at Mar. 31, 2023	$ 90	$ 50,556	$ (2,814)	$ 213,336	$ (7,407)	$ 253,761
Balance (in shares) at Mar. 31, 2023	9,006,551

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Consolidated Statements of Stockholders' Equity, Share Data
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.23
Common Stock
Consolidated Statements of Stockholders' Equity, Share Data
Allocation of ESOP shares, shares	12,234	12,234

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 2,316	$ 4,710
Adjustments to reconcile net income to net cash used in operating activities:
Reversal of provision for credit losses	(100)
Reversal of provision for credit losses		(168)
Depreciation and amortization	292	317
Deferred income tax expense	266	232
(Accretion) amortization of fees, discounts, and premiums, net	(90)	43
Amortization of right-of-use asset	716	700
Origination of loans held for sale	(355)	(3,032)
Proceeds from sales of loans held for sale	356	1,988
Gain on sale of loans, net	(1)	(7)
ESOP expense	281	304
Share-based compensation expense	(42)	134
Net increase in accrued interest receivable	(13)	(63)
Net increase in bank-owned life insurance	(203)	(197)
Net increase in prepaid expenses and other assets	(154)	(5,661)
Net decrease in accounts payable and accrued expenses	(1,661)	(233)
Net decrease in lease liability	(694)	(702)
Net decrease in advance payments by borrowers for taxes and insurance	(2,691)	(2,649)
Net increase in income taxes payable	196	610
Net cash used in operating activities	(1,581)	(3,674)
Cash flows from investing activities:
Purchases of investment securities held to maturity	(6,693)	(46,832)
Purchases of investment securities available for sale		(5,408)
Principal repayments on investment securities held to maturity	8,879	19,403
Principal repayments on investment securities available for sale	220
Principal repayments on loans receivable, net of loan originations	409	7,680
Purchases of Federal Home Loan Bank stock	(5,087)	(24)
Proceeds from redemption of Federal Home Loan Bank stock	840
Purchases of Federal Reserve Bank stock	(7)	(5)
Proceeds from bank-owned life insurance		4,431
Purchases of premises and equipment	(116)	(138)
Net cash from investing activities	(1,555)	(20,893)
Cash flows from financing activities:
Net decrease in deposits	(54,179)	(6,260)
Proceeds from advances from the Federal Home Loan Bank	126,000
Repayments of advances from the Federal Home Loan Bank	(21,000)
Repurchases of common stock	(1,345)	(1,135)
Cash dividends paid	(2,033)	(2,113)
Net cash provided by (used in) financing activities	47,443	(9,508)
Net change in cash and cash equivalents	44,307	(34,075)
Cash and cash equivalents at beginning of the year	40,553	99,859
Cash and cash equivalents at end of the year	84,860	65,784
Cash paid for:
Interest on deposits and borrowings	4,318	1,141
Income taxes	390	475
Supplemental disclosure of noncash investing and financing activities:
Company stock repurchased through stock swap and net settlement transactions	43	194
Establishment of right-of-use asset, net of incentives and modifications	118	4,798
Establishment of lease liability, net of modifications	$ 118	$ 4,798

Organization

Organization	3 Months Ended
	Mar. 31, 2023
Organization
Organization	(1) Organization ​ Territorial Bancorp Inc. (the Company) is a Maryland corporation and is the holding company for Territorial Savings Bank (the Bank). Territorial Savings Bank is a Hawaii state-chartered bank headquartered in Honolulu, Hawaii and is a member of the Federal Reserve System. Territorial Savings Bank has an inactive subsidiary, Territorial Financial Services, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies ​ (a) Basis of Presentation ​ The accompanying unaudited interim condensed consolidated financial statements of Territorial Bancorp Inc. have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited interim condensed consolidated financial statements and notes should be read in conjunction with the Company’s consolidated financial statements and notes thereto filed as part of the Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, all adjustments necessary for a fair presentation have been made and consist only of normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year. ​ (b) Allowance of Credit Losses (ACL) on Loans and Securities ​ The current expected credit losses (CECL) accounting standard requires an estimate of the credit losses expected over the life of the financial instrument. CECL replaces the incurred loss approach that delayed the recognition of a credit loss until it was probable and a loss event occurred. ​ The estimate of expected credit losses is based on information about past events, current conditions and reasonable and supportable forecasts that affect the collectability of financial instruments. Historical loss experience is generally the starting point for estimating expected credit losses. The Company considers whether the historical loss experience should be adjusted for asset specific risk characteristics or current conditions at the reporting date that did not exist over the historical reporting period. These qualitative adjustment can include changes in the economy, loan underwriting standards, and delinquency trends. The Company then considers future economic conditions as part of the one year reasonable and supportable forecast period. ​ The Bank’s loan portfolio is segmented into three pools: real estate, commercial and consumer loans. Only pools are used to segment the Bank’s loan portfolio because they share the same risk characteristics and were originated using similar underwriting standards. Loans that do not share similar risk characteristics would be evaluated on an individual basis and excluded from the collective evaluation. ​ The real estate pool consists primarily of residential mortgage loans secured by real estate in Hawaii. These loans have fixed interest rates, loan terms of up to 30 years , and were originated using similar loan terms. The commercial loan pool consists of business loans. The consumer loan pool consists primarily of home equity lines of credit secured by real estate in Hawaii. ​ The ACL on loans is estimated by calculating the total present value of expected cash flows discounted by the loan’s effective interest rate. The expected cash flows includes estimates of loan charge-offs and recoveries, loan prepayments, and credit utilization. The expected cash flows on the loans are adjusted using forecasts of economic variables which have a strong correlation with loan charge-offs and recoveries, prepayments, and credit utilization during the one year reasonable and supportable forecast period. After the reasonable and supportable forecast period, the historical reversion rate is used to calculate loan charge-offs and recoveries, prepayments, and credit utilization. The reversion rate is based on historical averages. Qualitative adjustments may be made to account for current conditions and forward looking events not captured in the historical information. ​ The ACL is calculated on a loan by loan basis. If the loan’s amortized cost basis is less than the total present value of cash flows calculated using a discounted cash flow approach, the ACL is equal to the amortized cost basis minus the total present value of cash flows on the loan discounted by the loan’s effective interest rate. Charge-offs to the ACL are made when management determines that the collectability of all or a portion of a loan is doubtful and available collateral is insufficient to repay the loan. ​ A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For loans which are considered to be collateral-dependent, the Company has elected to estimate the expected credit loss based on the fair value of the collateral less selling costs. If the fair value of the collateral less selling costs is less than the loan’s fair value, the Company records a partial charge-off to reduce the loan’s amortized cost basis for the difference between the collateral fair value less selling costs and the amortized cost basis. ​ Loans receivable are stated at amortized cost which includes the principal amount outstanding, less the allowance for credit losses, deferred loan origination fees and costs, commitment fees, and cumulative net charge-offs. Interest income on loans receivable is accrued as earned. ​ The Company has a policy of placing loans on a nonaccrual basis when 90 days or more contractually delinquent or when, in the opinion of management, collection of all or part of the principal balance appears doubtful, unless the loans are well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued and not collected is reversed against current period interest income. For nonaccrual loans, the Company records payments received as a reduction in principal. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current and full payment of principal and interest is expected. ​ Accrued interest receivable on loans was $4.5 million as of March 31, 2023 and is included in Accrued interest receivable on the Consolidated Balance Sheet. ​ The Company is required to utilize the CECL methodology to estimate expected credit losses with respect to held-to-maturity (HTM) investment securities. Since all of the Company’s HTM investment securities were issued by U.S. government agencies or U.S. government sponsored enterprises, which include the explicit and/or implicit guarantee of the U.S. government and have a long history of no credit losses, the Company did not record a credit loss on these securities. The unrealized losses on these securities were due to changes in interest rates, relative to when the securities were purchased, and are not due to decreases in the credit quality of the securities. ​ Available for sale (AFS) investment securities in an unrealized loss position are evaluated for impairment. The Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the investment securities amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the investment security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in other comprehensive income. ​ Changes in the ACL are recorded as a provision for (or reversal of) credit losses. Losses are charged against the ACL when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. ​ Since all of the Company’s AFS investment securities were issued by U.S. government agencies or U.S. government sponsored enterprises and include the explicit and/or implicit guarantee of the U.S. government, the Company did not record a credit loss on these securities. The unrealized loss on AFS securities were due to changes in interest rates, relative to when the securities were purchased. Management has concluded that the long history with

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements	(3) Recently Issued Accounting Pronouncements ​ In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU changes the threshold for recognizing losses from a “probable” to an “expected” model. The new model is referred to as the current expected credit loss model and applies to loans, leases, held-to-maturity investments, loan commitments, and financial guarantees. The standard requires the measurement of all expected credit losses for financial assets as of the reporting date (including historical experience, current conditions, and reasonable and supportable forecasts) and enhanced disclosures that will help financial statement users understand the estimates and judgments used in estimating credit losses and evaluating the credit quality of an organization’s portfolio. The amendment was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued an update that delays the effective date of the amendment for smaller reporting companies, as defined by the Securities and Exchange Commission, to fiscal years beginning after December 15, 2022. The Company is a smaller reporting company. The Company adopted the standard on January 1, 2023, and applied the standard’s provisions as a cumulative-effect adjustment to retained earnings as of January 1, 2023. Upon adoption of the standard, the Company recorded a million after-tax decrease to retained earnings as of January 1, 2023. The tax effect resulted in an increase to deferred tax assets. ​ In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The ASU eliminates the accounting guidance for loans modified as troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. This ASU was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, upon the Company’s adoption of the amendments in ASU 2016-13. The Company adopted the standard on January 1, 2023, and it did not have a material effect on the Company’s consolidated financial statements. ​ In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions to clarify that contractual sale restrictions should not be considered in the measurement of the fair value of an equity security. The Company owns stock in the Federal Reserve Bank (FRB) and in the Federal Home Loan Bank (FHLB) which is valued at historical cost which approximates fair value. Ownership of stock is a condition for services the Company receives from the FRB and FHLB. The stock is not publically traded and can only be issued, exchanged, redeemed or repurchased by the FRB and the FHLB. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023. The Company does not expect the adoption of this ASU to have a material effect on its consolidated financial statements.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents
Cash and Cash Equivalents	(4) Cash and Cash Equivalents ​ The table below presents the balances of cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Dollars in thousands) 2023 2022 Cash and due from banks ​ $ 11,782 ​ $ 9,722 ​ Interest-earning deposits in other banks ​ 73,078 ​ 30,831 ​ Cash and cash equivalents ​ $ 84,860 ​ $ 40,553 ​ ​ Interest-earning deposits in other banks consist primarily of deposits at the Federal Reserve Bank of San Francisco.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2023
Investment Securities.
Investment Securities	(5) Investment Securities ​ The amortized cost, gross unrealized gains and losses, fair value, and related ACL of investment securities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated ​ ​ (Dollars in thousands) Cost Gains Losses Fair Value ​ ACL March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government-sponsored enterprises ​ $ 23,337 ​ $ — $ (2,264) ​ $ 21,073 ​ $ — Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 715,601 ​ ​ 80 ​ (113,636) ​ ​ 602,045 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 738,938 ​ $ 80 $ (115,900) ​ $ 623,118 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government-sponsored enterprises ​ $ 23,544 ​ $ — $ (2,723) ​ $ 20,821 ​ $ — Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 717,773 ​ ​ 62 ​ (126,751) ​ ​ 591,084 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 741,317 ​ $ 62 $ (129,474) ​ $ 611,905 ​ $ — ​ The amortized cost and estimated fair value of investment securities by maturity date at March 31, 2023 are shown below. Incorporated in the maturity schedule are mortgage-backed securities, which are allocated using the contractual maturity as a basis. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Estimated (Dollars in thousands) Cost Fair Value Available-for-sale: ​ ​ ​ ​ ​ ​ ​ Due after 10 years ​ $ 23,337 ​ $ 21,073 ​ Total ​ $ 23,337 ​ $ 21,073 ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ Due within 5 years ​ $ 19 ​ $ 19 ​ Due after 5 years through 10 years ​ 9 ​ 8 ​ Due after 10 years ​ 715,573 ​ 602,018 ​ Total ​ $ 715,601 ​ $ 602,045 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company did not sell any held-to-maturity or available-for-sale securities during the three months ended March 31, 2023 and 2022. ​ Investment securities with amortized costs of $241.5 million and $272.8 million at March 31, 2023 and December 31, 2022, respectively, were pledged to secure deposits made by state and local governments, securities sold under agreements to repurchase, transaction clearing accounts, and Federal Reserve Bank borrowings. The Company did not have any outstanding borrowings at the Federal Reserve Bank at March 31, 2023 or December 31, 2022. ​ Provided below is a summary of investment securities which were in an unrealized loss position at March 31, 2023 and December 31, 2022. The Company does not intend to sell securities until such time as the value recovers or the securities mature and it is not more likely than not that the Company will be required to sell the securities prior to recovery of value or the securities mature. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Number of Unrealized Description of securities Fair Value Losses Fair Value Losses Securities Fair Value Losses (Dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government-sponsored enterprises ​ $ 4,414 ​ $ (250) ​ $ 16,659 ​ $ (2,014) 4 ​ $ 21,073 ​ $ (2,264) ​ Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 92,902 ​ ​ (3,738) ​ ​ 502,468 ​ ​ (109,898) 150 ​ ​ 595,370 ​ ​ (113,636) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 97,316 ​ $ (3,988) ​ $ 519,127 ​ $ (111,912) ​ 154 ​ $ 616,443 ​ $ (115,900) ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government sponsored enterprises ​ $ 20,821 ​ $ (2,723) ​ $ — ​ $ — 4 ​ $ 20,821 ​ $ (2,723) ​ Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 210,128 ​ ​ (22,209) ​ ​ 377,418 ​ ​ (104,542) 148 ​ ​ 587,546 ​ ​ (126,751) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 230,949 ​ $ (24,932) ​ $ 377,418 ​ $ (104,542) ​ 152 ​ $ 608,367 ​ $ (129,474) ​ ​ Mortgage-Backed Securities. The unrealized losses on the Company’s investment in mortgage-backed securities were caused by increases in market interest rates subsequent to purchase. All of the mortgage-backed securities are guaranteed by Freddie Mac or Fannie Mae, which are U.S. government-sponsored enterprises, or Ginnie Mae, which is a U.S. government agency. Since the decline in market value is attributable to changes in interest rates and not credit quality, the Company does not intend to sell these investments until maturity, and it is not more likely than not that the Company will be required to sell such investments prior to recovery of its cost basis, the Company does not consider these investments to be other-than-temporarily impaired as of March 31, 2023 and December 31, 2022. credit losses and are widely recognized as “risk free.” Therefore,

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2023
Loans Receivable and Allowance for Credit Losses
Loans Receivable and Allowance for Credit Losses	(6) Loans Receivable and Allowance for Credit Losses ​ The components of loans receivable, net of allowance for credit losses (ACL) under ASC 326 as of March 31, 2023 and net of allowance for credit losses under ASC 310 as of December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ (Dollars in thousands) 2023 2022 ​ Real estate loans: ​ ​ ​ ​ ​ ​ ​ ​ First mortgages: ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential ​ $ 1,253,020 ​ $ 1,253,558 ​ ​ Multi-family residential ​ 6,239 ​ 6,448 ​ ​ Construction, commercial, and other ​ 24,587 ​ 23,903 ​ ​ Home equity loans and lines of credit ​ 6,303 ​ 6,426 ​ ​ Total real estate loans ​ 1,290,149 ​ 1,290,335 ​ ​ Other loans: ​ ​ ​ ​ ​ ​ ​ ​ Loans on deposit accounts ​ 241 ​ 216 ​ ​ Consumer and other loans ​ 8,087 ​ 8,381 ​ ​ Total other loans ​ 8,328 ​ 8,597 ​ ​ Less: ​ ​ ​ ​ ​ ​ ​ ​ Net unearned fees and discounts ​ (2,040) ​ (2,136) ​ ​ Allowance for credit losses ​ (5,127) ​ (2,032) ​ ​ Total unearned fees, discounts, and allowance for credit losses ​ (7,167) ​ (4,168) ​ ​ Loans receivable, net ​ $ 1,291,310 ​ $ 1,294,764 ​ ​ ​ The table below presents the activity in the allowance for credit losses by portfolio segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ Equity ​ ​ ​ Loans and ​ ​ Real Commercial Lines of Consumer ​ ​ (Dollars in thousands) Estate Loans Credit Loans ​ Unallocated Totals ​ Three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 1,263 ​ $ 434 ​ $ 1 ​ $ 75 ​ $ 259 ​ $ 2,032 ​ Adoption of ASU No. 2016-13 ​ ​ 3,393 ​ ​ 71 ​ ​ (1) ​ ​ 5 ​ ​ (259) ​ ​ 3,209 ​ (Reversal of provision) provision for credit losses ​ (27) ​ ​ (88) ​ ​ — ​ ​ 15 ​ ​ — ​ (100) ​ ​ ​ 4,629 ​ 417 ​ — ​ 95 ​ — ​ 5,141 ​ Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ (15) ​ ​ — ​ (15) ​ Recoveries ​ — ​ ​ — ​ ​ — ​ ​ 1 ​ ​ — ​ 1 ​ Net charge-offs ​ — ​ — ​ — ​ (14) ​ — ​ (14) ​ Balance, end of period ​ $ 4,629 ​ $ 417 ​ $ — ​ $ 81 ​ $ — ​ $ 5,127 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction, Home ​ ​ Commercial, Equity ​ ​ and Other Loans and ​ ​ Residential Mortgage Lines of Consumer ​ ​ (Dollars in thousands) Mortgage Loans Credit and Other ​ Unallocated Totals ​ Three months ended March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 1,814 ​ $ 435 ​ $ 1 ​ $ 89 ​ $ 330 ​ $ 2,669 ​ (Reversal of provision) provision for credit losses ​ (180) ​ (1) ​ — ​ 45 ​ (32) ​ (168) ​ ​ ​ 1,634 ​ 434 ​ 1 ​ 134 ​ 298 ​ 2,501 ​ Charge-offs ​ — ​ — ​ — ​ (42) ​ — ​ (42) ​ Recoveries ​ — ​ — ​ — ​ — ​ — ​ — ​ Net charge-offs ​ — ​ — ​ — ​ (42) ​ — ​ (42) ​ Balance, end of period ​ $ 1,634 ​ $ 434 ​ $ 1 ​ $ 92 ​ $ 298 ​ $ 2,459 ​ ​ The table below presents the balance in the allowance for credit losses and the recorded investment in loans, net of unearned fees and discounts, by portfolio segment, and based on impairment method as of December 31, 2022, as determined in accordance with ASC 310 prior to the adoption of ASU 2016-13: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction, Home Commercial, Equity and Other Loans and Residential Mortgage Lines of Consumer (Dollars in thousands) Mortgage Loans Credit and Other Unallocated Totals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending allowance balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ Collectively evaluated for impairment ​ 1,263 ​ 434 ​ 1 ​ 75 ​ 259 ​ 2,032 ​ Total ending allowance balance ​ $ 1,263 ​ $ 434 ​ $ 1 ​ $ 75 ​ $ 259 ​ $ 2,032 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending loan balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 2,693 ​ $ — ​ $ 16 ​ $ — ​ $ 6 ​ $ 2,715 ​ Collectively evaluated for impairment ​ 1,255,300 ​ 23,775 ​ 6,411 ​ 8,595 ​ — ​ 1,294,081 ​ Total ending loan balance ​ $ 1,257,993 ​ $ 23,775 ​ $ 6,427 ​ $ 8,595 ​ $ 6 ​ $ 1,296,796 ​ ​ The table below presents the balance of impaired loans individually evaluated for impairment by class of loans as of December 31, 2022, in accordance with ASC 310 prior to the adoption of ASU 2016-13: ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Recorded Principal (Dollars in thousands) Investment Balance December 31, 2022: ​ ​ ​ ​ ​ ​ ​ With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ 2,693 ​ $ 3,209 ​ Home equity loans and lines of credit ​ ​ 16 ​ ​ 30 ​ Consumer Loans ​ ​ 6 ​ 6 ​ Total ​ $ 2,715 ​ $ 3,245 ​ ​ The table below presents the average recorded investment and interest income recognized on impaired loans by class of loans as of March 31, 2022, in accordance with ASC 310 prior to the adoption of ASU 2016-13: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2022 Average Interest Recorded Income (Dollars in thousands) Investment Recognized With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ 3,782 ​ $ 7 ​ Home equity loans and lines of credit ​ 18 ​ — ​ Total ​ $ 3,800 ​ $ 7 ​ ​ There were no loans individually evaluated for impairment with a related allowance for credit loss as of December 31, 2022. At December 31, 2022, loans individually evaluated for impairment do not have an allocated allowance for credit losses because they are written down to fair value at the time of impairment. At December 31, 2022, an impaired loan would also not have an allocated allowance if the value of the property securing the loan, less the cost to sell the property, is greater than the loan balance. ​ The Company primarily uses the aging of loans and accrual status to monitor the credit quality of its loan portfolio. The table below presents by credit quality indicator, loan class and year of origination, the amortized cost basis of the Company’s loans as of March 31, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans ​ ​ ​ ​ Amortized Cost of Term Loans by Origination Year ​ Amortized ​ ​ ​ (Dollars in thousands) ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Cost Basis ​ Total March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 days past due ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — 60 - 89 days past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 90 days or more past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans not past due ​ ​ — ​ ​ 396 ​ ​ 4,952 ​ ​ — ​ ​ 228 ​ ​ 1,171 ​ ​ 1,218 ​ ​ 7,965 Total Commercial ​ ​ — ​ ​ 396 ​ ​ 4,952 ​ ​ — ​ ​ 228 ​ ​ 1,171 ​ ​ 1,218 ​ ​ 7,965 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 days past due ​ ​ 1 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 60 - 89 days past due ​ ​ — ​ ​ 3 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3 90 days or more past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans not past due ​ ​ 78 ​ ​ 113 ​ ​ 39 ​ ​ 88 ​ ​ 29 ​ ​ 48 ​ ​ 5,324 ​ ​ 5,719 Total Consumer ​ ​ 79 ​ ​ 116 ​ ​ 39 ​ ​ 88 ​ ​ 29 ​ ​ 48 ​ ​ 5,324 ​ ​ 5,723 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 days past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 874 ​ ​ — ​ ​ 874 60 - 89 days past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 51 ​ ​ — ​ ​ 51 90 days or more past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 140 ​ ​ 827 ​ ​ — ​ ​ 967 Loans not past due ​ ​ 19,531 ​ ​ 132,417 ​ ​ 290,917 ​ ​ 191,102 ​ ​ 95,150 ​ ​ 551,740 ​ ​ — ​ ​ 1,280,857 Total Real Estate ​ ​ 19,531 ​ ​ 132,417 ​ ​ 290,917 ​ ​ 191,102 ​ ​ 95,290 ​ ​ 553,492 ​ ​ — ​ ​ 1,282,749 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 19,610 ​ $ 132,929 ​ $ 295,908 ​ $ 191,190 ​ $ 95,547 ​ $ 554,711 ​ $ 6,542 ​ $ 1,296,437 ​ The Company did not have any revolving loans that converted to term loans during the three months ended March 31, 2023. ​ The table below presents the aging of loans and accrual status by class of loans, net of unearned fees and discounts. Loans with a formal loan payment deferral plan in place are not considered contractually past due or delinquent if the borrower is in compliance with the loan payment deferral plan. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans 90 Days or More 30 - 59 60 - 89 90 Days or Past Due Days Past Days Past More Total Past Loans Not Total Nonaccrual and Still (Dollars in thousands) Due Due Past Due Due Past Due Loans Loans Accruing March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ 859 ​ $ 51 ​ $ 967 ​ $ 1,877 ​ $ 1,249,239 ​ $ 1,251,116 ​ $ 2,357 ​ $ — ​ Multi-family residential mortgages ​ — ​ — ​ — ​ — ​ 6,230 ​ 6,230 ​ — ​ — ​ Construction, commercial, and other mortgages ​ — ​ — ​ — ​ — ​ 24,456 ​ 24,456 ​ — ​ — ​ Home equity loans and lines of credit ​ 15 ​ — ​ — ​ 15 ​ 6,290 ​ 6,305 ​ 15 ​ — ​ Loans on deposit accounts ​ — ​ — ​ — ​ — ​ 241 ​ 241 ​ — ​ — ​ Consumer and other ​ 1 ​ 3 ​ — ​ 4 ​ 8,085 ​ 8,089 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 875 ​ $ 54 ​ $ 967 ​ $ 1,896 ​ $ 1,294,541 ​ $ 1,296,437 ​ $ 2,372 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ — ​ $ 409 ​ $ 559 ​ $ 968 ​ $ 1,250,586 ​ $ 1,251,554 ​ $ 2,279 ​ $ — ​ Multi-family residential mortgages ​ — ​ — ​ — ​ — ​ 6,439 ​ 6,439 ​ — ​ — ​ Construction, commercial, and other mortgages ​ — ​ — ​ — ​ — ​ 23,775 ​ 23,775 ​ — ​ — ​ Home equity loans and lines of credit ​ — ​ — ​ — ​ — ​ 6,427 ​ 6,427 ​ 16 ​ — ​ Loans on deposit accounts ​ — ​ — ​ — ​ — ​ 217 ​ 217 ​ — ​ — ​ Consumer and other ​ 6 ​ — ​ 6 ​ 12 ​ 8,372 ​ 8,384 ​ 6 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 6 ​ $ 409 ​ $ 565 ​ $ 980 ​ $ 1,295,816 ​ $ 1,296,796 ​ $ 2,301 ​ $ — ​ ​ The table below presents the amortized cost basis of loans on nonaccrual status as of March 31, 2023 and December 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 December 31, 2022 (Dollars in thousands) Nonaccrual Loans with a related ACL Nonaccrual loans without a related ACL Total Nonaccrual Loans Total Nonaccrual Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ $ 878 ​ $ 1,494 ​ $ 2,372 ​ $ 2,295 Consumer ​ — ​ — ​ — ​ 6 Commercial ​ — ​ — ​ — ​ — Total Nonaccrual Loans and Leases ​ $ 878 ​ $ 1,494 ​ $ 2,372 ​ $ 2,301 ​ The Company does not recognize interest income while loans are on nonaccrual status. All payments received while on nonaccrual status are applied against the principal balance of the loan. ​ When a mortgage loan becomes seriously delinquent ( 90 days or more contractually past due), it displays weaknesses that may result in a loss. As a loan becomes more delinquent, the likelihood of the borrower repaying the loan decreases and the loan becomes more collateral-dependent. A mortgage loan becomes collateral-dependent when the proceeds for repayment can be expected to come only from the sale or operation of the collateral and not from borrower repayments. Generally, appraisals are obtained after a loan becomes collateral-dependent or is four months delinquent. The carrying value of collateral-dependent loans is adjusted to the fair value of the collateral less selling costs. Any commercial real estate, commercial, construction or equity loan that has a loan balance in excess of a specified amount is also periodically reviewed to determine whether the loan exhibits any weaknesses and is performing in accordance with its contractual terms. The amortized cost basis of collateral dependent loans was $967,000 and $559,000 at March 31, 2023 and December 31, 2022, respectively. These loans were collateralized by residential real estate in Hawaii. As of March 31, 2023 and December 31, 2022, the fair value of the collateral less selling costs of these collateral dependent loans exceeded the amortized cost basis. There was no ACL on collateral dependent loans. ​ There were no loans modified during the three months ended March 31, 2023 or 2022. Since the beginning of the year, there has not been a significant increase in loan delinquencies, significant changes in deposits or significant drawdowns on any lines of credit. We do not have any commercial loans to hotels, businesses in the transportation industry, restaurants or retail establishments. ​ The Company had no real estate owned as of March 31, 2023 or December 31, 2022. There were in the process of foreclosure at March 31, 2023. There were ​ Nearly all of our real estate loans are collateralized by real estate located in the State of Hawaii. Loan-to-value ratios on these real estate loans generally do not exceed ​ During the three months ended March 31, 2023 and 2022, the Company sold mortgage loans held for sale with principal balances of $360,000 and $2.0 million, respectively, and recognized gains of $1,000 and $18,000 , respectively. The Company had ​ The Company serviced loans for others with principal balances of $35.5 million at March 31, 2023 and $36.0 million at December 31, 2022. Of these amounts, million of loan balances relate to securitizations for which the Company continues to hold the related mortgage-backed securities at March 31, 2023 and December 31, 2022, respectively. The amount of contractually specified servicing fees earned for the three months ended March 31, 2023 and 2022 was , respectively. The fees are reported in service and other fees in the Consolidated Statements of Income.

Advances from the Federal Home

Advances from the Federal Home Loan Bank	3 Months Ended
	Mar. 31, 2023
Advances from the Federal Home Loan Bank
Advances from the Federal Home Loan Bank	​ (7) Advances from the Federal Home Loan Bank ​ Federal Home Loan Bank advances are secured by a blanket pledge on the Bank’s assets not otherwise pledged. At March 31, 2023 and December 31, 2022, our credit limit with the FHLB of Des Moines was equal to 45% of Territorial Savings Bank’s total assets and we had the capacity to borrow an additional $630.1 million and $769.1 million, respectively. ​ Advances outstanding consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 December 31, 2022 Weighted Weighted Average Average (Dollars in thousands) Amount Rate Amount Rate Due within one year ​ $ 24,000 1.27 % $ 24,000 1.27 % Due over 1 year to 2 years ​ 82,000 1.40 ​ 82,000 1.40 ​ Due over 2 years to 3 years ​ 25,000 1.58 ​ 25,000 1.58 ​ Due over 3 years to 4 years ​ ​ 40,000 ​ 3.70 ​ ​ 10,000 ​ 1.97 ​ Due over 4 years to 5 years ​ ​ 35,000 ​ 4.22 ​ ​ — ​ — ​ Due over 5 years to 6 years ​ 40,000 4.41 ​ — — ​ Total ​ $ 246,000 2.67 % $ 141,000 1.45 % ​

Securities Sold Under Agreement

Securities Sold Under Agreements to Repurchase	3 Months Ended
	Mar. 31, 2023
Securities Sold Under Agreements to Repurchase
Securities Sold Under Agreements to Repurchase	​ (8) Securities Sold Under Agreements to Repurchase ​ Securities sold under agreements to repurchase are treated as financings and the obligations to repurchase the identical securities sold are reflected as a liability with the securities collateralizing the agreements classified as an asset. Securities sold under agreements to repurchase are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 December 31, 2022 Weighted Weighted Repurchase Average Repurchase Average (Dollars in thousands) Liability Rate Liability Rate Maturing: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over 1 year to 2 years ​ $ 10,000 1.81 % $ 5,000 1.88 % Over 2 years to 3 years ​ — — ​ ​ 5,000 1.73 ​ Total ​ $ 10,000 1.81 % $ 10,000 1.81 % ​ Below is a summary comparing the carrying value and fair value of securities pledged to secure repurchase agreements, the repurchase liability, and the amount at risk at March 31, 2023. The amount at risk is the greater of the carrying value or fair value over the repurchase liability and refers to the potential loss to the Company if the secured lender fails to return the security at the maturity date of the agreement. All the agreements to repurchase are with JP Morgan Securities and the securities pledged are mortgage-backed securities issued and guaranteed by U.S. government agencies or U.S. government-sponsored enterprises. The repurchase liability cannot exceed of the fair value of securities pledged. In the event of a decline in the fair value of securities pledged to less than the required amount due to market conditions or principal repayments, the Company is obligated to pledge additional securities or other suitable collateral to cure the deficiency. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Carrying Fair Average Value of Value of Repurchase Amount Months to (Dollars in thousands) Securities Securities Liability at Risk Maturity Maturing: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over 90 days ​ $ 13,373 ​ $ 11,355 ​ $ 10,000 ​ $ 3,373 21 ​ ​

Offsetting of Financial Liabili

Offsetting of Financial Liabilities	3 Months Ended
	Mar. 31, 2023
Offsetting of Financial Liabilities
Offsetting of Financial Liabilities	(9) Offsetting of Financial Liabilities ​ Securities sold under agreements to repurchase are subject to a right of offset in the event of default. See Note 8, Securities Sold Under Agreements to Repurchase, for additional information. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Amount of Gross Amount Not Offset in the Gross Amount Gross Amount Liabilities Balance Sheet of Recognized Offset in the Presented in the Financial Cash Collateral (Dollars in thousands) Liabilities Balance Sheet Balance Sheet Instruments ​ Pledged Net Amount March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities sold under agreements to repurchase ​ $ 10,000 ​ $ — ​ $ 10,000 ​ $ 10,000 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities sold under agreements to repurchase ​ $ 10,000 ​ $ — ​ $ 10,000 ​ $ 10,000 ​ $ — ​ $ — ​

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Mar. 31, 2023
Employee Stock Ownership Plan
Employee Stock Ownership Plan
Employee Stock Ownership Plan	(10) Employee Stock Ownership Plan ​ Effective January 1, 2009, Territorial Savings Bank adopted an Employee Stock Ownership Plan (ESOP) for eligible employees. The ESOP borrowed , of the total number of shares issued by the Company in its initial public offering. The shares were acquired at a price of ​ The loan is secured by the shares purchased with the loan proceeds and will be repaid by the ESOP over the 20-year term of the loan with funds from Territorial Savings Bank’s contributions to the ESOP and dividends payable on the shares. The interest rate on the ESOP loan is an adjustable rate equal to the prime rate, as published in The Wall Street Journal . The interest rate adjusts annually and will be the prime rate on the first business day of the calendar year. ​ Shares purchased by the ESOP are held by a trustee in an unallocated suspense account, and shares are released annually from the suspense account on a pro-rata basis as principal and interest payments are made by the ESOP to the Company. The trustee allocates the shares released among participants on the basis of each participant’s proportional share of compensation relative to all participants. As shares are committed to be released from the suspense account, Territorial Savings Bank reports compensation expense based on the average fair value of shares released with a corresponding credit to stockholders’ equity. The shares committed to be released are considered outstanding for earnings per share computations. Compensation expense recognized for the three months ended March 31, 2023 and 2022 amounted to , respectively. ​ Shares held by the ESOP trust were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, 2023 2022 Allocated shares ​ 595,708 ​ 583,474 ​ ​ Unearned shares ​ 281,364 ​ 293,598 ​ ​ Total ESOP shares ​ 877,072 ​ 877,072 ​ ​ Fair value of unearned shares, in thousands ​ $ 5,433 ​ $ 7,049 ​ ​ ​ The ESOP restoration plan is a nonqualified plan that provides supplemental benefits to certain executives who are prevented from receiving the full benefits contemplated by the ESOP’s benefit formula. The supplemental cash payments consist of payments representing shares that cannot be allocated to the participants under the ESOP due to IRS limitations imposed on tax-qualified plans. We accrue for these benefits over the period during which employees provide services to earn these benefits. For the three months ended March 31, 2023 and 2022, we accrued , respectively, for the ESOP restoration plan.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2023
2010 Equity Incentive Plan
Share-Based Compensation
Share-Based Compensation	(11) Share-Based Compensation ​ The shareholders of Territorial Bancorp Inc. adopted the 2010 Equity Incentive Plan and the 2019 Equity Incentive Plan. These plans provide for the award of stock options and restricted stock to key officers and directors. In accordance with the Compensation – Stock Compensation topic of the FASB ASC, the cost of the equity incentive plans is based on the fair value of the awards on the grant date. The fair value of time-based restricted stock is based on the closing price of the Company’s stock on the grant date. The fair value of performance-based stock that will vest based on a performance condition is based on the closing price of the Company’s stock on the date of grant. The fair value of performance-based restricted stock that will vest on a market condition is based on a Monte Carlo valuation of the Company’s stock on the date of grant. The fair value of time-based stock options is estimated using a Black-Scholes option pricing model using assumptions for dividend yield, stock price volatility, risk-free interest rate, and option term. These assumptions are based on our judgments regarding future events, are subjective in nature, and cannot be determined with precision. The cost of the awards will be recognized on a straight-line basis over the three , five - or six-year vesting period during which participants are required to provide services in exchange for the awards. No new awards can be made under the 2010 Equity Plan, but awards previously made can continue to vest. There are 144,630 remaining shares available for new awards under the 2019 Equity Plan. ​ The Company recognized compensation expense, measured as the fair value of the share-based award on the date of grant, on a straight-line basis over the vesting period. Share-based compensation is recorded in the Consolidated Statements of Income as a component of salaries and employee benefits with a corresponding increase in stockholders’ equity. The table below presents information on compensation expense and the related tax benefit for all share-based awards: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (In thousands) 2023 2022 Compensation expense ​ $ (42) ​ $ 134 ​ Income tax benefit ​ (11) ​ 37 ​ ​ Share-based compensation expense and the income tax benefit had credit balances during the three months ended March 31, 2023. The credit balances occurred when the number of performance-based restricted stock units (PRSUs), which are based on a performance condition, decreased because the Company’s three-year return on average equity declined in comparison to a peer group of banks. ​ Stock Options ​ The table below presents the stock option activity for the three months ended March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Aggregate Average Remaining Intrinsic Exercise Contractual Value Options Price Life (years) (in thousands) Options outstanding at December 31, 2021 3,085 ​ $ 23.62 0.67 ​ $ 5 ​ Granted — ​ — — ​ — ​ Exercised — ​ — — ​ — ​ Forfeited — ​ — — ​ — ​ Expired — ​ — — ​ — ​ Options outstanding at March 31, 2022 3,085 ​ $ 23.62 0.42 ​ $ 1 ​ ​ There were no options exercised or vested during the three months ended March 31, 2022. There were options outstanding during the three months ended March 31, 2023. As of March 31, 2023, the Company had ​ Restricted Stock ​ Restricted stock awards are accounted for as fixed grants using the fair value of the Company’s stock at the time of grant. Unvested restricted stock may not be disposed of or transferred during the vesting period. Restricted stock carries the right to receive dividends, although dividends attributable to restricted stock are retained by the Company until the shares vest, at which time they are paid to the award recipient. Unvested restricted stock that is time-based contain nonforfeitable dividend rights. Accrued dividends on restricted stock that do not vest based on performance or market conditions are forfeited. ​ The table below presents the time-based restricted stock activity: ​ ​ ​ ​ ​ ​ ​ ​ Weighted Time-Based Average Grant Restricted Date Fair Stock Value Unvested at December 31, 2022 23,664 ​ $ 24.15 ​ Granted — ​ — ​ Vested 4,540 ​ 21.05 ​ Forfeited — ​ — ​ Unvested at March 31, 2023 19,124 ​ $ 24.89 ​ ​ ​ ​ ​ ​ ​ ​ Unvested at December 31, 2021 23,208 ​ $ 24.61 ​ Granted — ​ — ​ Vested 8,001 ​ 23.75 ​ Forfeited — ​ — ​ Unvested at March 31, 2022 15,207 ​ $ 25.06 ​ ​ As of March 31, 2023, the Company had $288,000 of unrecognized compensation costs related to time-based restricted stock. ​ The table below presents the PRSUs that will vest on a performance condition: ​ ​ ​ ​ ​ ​ ​ Performance- ​ ​ ​ ​ Based Restricted ​ ​ ​ Stock Units Weighted ​ ​ Based on a ​ Average Grant ​ ​ Performance ​ Date Fair Condition Value Unvested at December 31, 2022 43,557 ​ $ 23.63 Granted — ​ — Vested — ​ — Forfeited 16,348 ​ 21.05 Unvested at March 31, 2023 27,209 ​ $ 25.18 ​ ​ ​ ​ ​ ​ Unvested at December 31, 2021 41,583 ​ $ 24.68 Granted — ​ — Vested 7,670 ​ 27.30 Forfeited 4,768 ​ 27.30 Unvested at March 31, 2022 29,145 ​ $ 23.56 ​ The fair value of these PRSUs is based on the fair value of the Company’s stock on the date of grant. As of March 31, 2023, the Company had $73,000 of unrecognized compensation costs related to these PRSUs. Performance will be measured over a three-year performance period and will be cliff vested. The performance condition is measured quarterly by comparing the Company’s three-year return on average equity to a peer group of banks. The Company’s percentile ranking in the peer group is used to adjust the number of PRSUs that are expected to vest. ​ The table below presents the PRSUs that will vest on a market condition: ​ ​ ​ ​ ​ ​ ​ ​ ​ Performance- ​ ​ ​ ​ ​ Based Restricted ​ Monte Carlo ​ ​ Stock Units ​ Valuation of ​ ​ Based on a ​ the Company's Market Condition Stock Unvested at December 31, 2022 10,889 ​ $ 24.04 Granted — ​ ​ — Vested — ​ — Forfeited 4,087 ​ 22.16 Unvested at March 31, 2023 6,802 ​ $ 25.16 ​ ​ ​ ​ ​ ​ Unvested at December 31, 2021 10,396 ​ $ 24.03 Granted — ​ ​ — Vested — ​ — Forfeited 3,110 ​ 24.45 Unvested at March 31, 2022 7,286 ​ $ 23.85 ​ As of March 31, 2023, the Company had $53,000 of unrecognized compensation costs related to the PRSUs that are based on a market condition. The market value of PRSUs that will vest on a market condition is determined by a Monte Carlo valuation of the Company’s stock as of the grant date. Performance will be measured over a three-year performance period and will be cliff vested. The market condition is measured quarterly by comparing the Company’s three-year average total stock return to a peer group of other banks. The Company’s percentile ranking in the peer group determines how many PRSUs will vest.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share
Earnings Per Share	(12) Earnings Per Share ​ Holders of unvested restricted stock accrue dividends at the same rate as common shareholders and they both share equally in undistributed earnings. Unvested restricted stock awards that are time-based contain nonforfeitable rights to dividends or dividend equivalents and are considered to be participating securities in the earnings per share computation using the two-class method. Under the two-class method, earnings are allocated to common shareholders and participating securities according to their respective rights to earnings. Unvested restricted stock awards that vest based on performance or market conditions are not considered to be participating securities in the earnings per share calculation because accrued dividends on shares that do not vest are forfeited. ​ The table below presents the information used to compute basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (Dollars in thousands, except per share data) 2023 2022 Net income ​ $ 2,316 ​ $ 4,710 ​ Income allocated to participating securities ​ ​ (19) ​ ​ (24) ​ Net income available to common shareholders ​ $ 2,297 ​ $ 4,686 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average number of shares used in: ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ 8,774,634 ​ 8,980,135 ​ Dilutive common stock equivalents: ​ ​ ​ ​ ​ ​ ​ Stock options and restricted stock units ​ 32,110 ​ 34,319 ​ Diluted earnings per share ​ 8,806,744 ​ 9,014,454 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per common share, basic ​ $ 0.26 ​ $ 0.52 ​ Net income per common share, diluted ​ $ 0.26 ​ $ 0.52 ​ ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	(13) Accumulated Other Comprehensive Loss ​ The table below presents the changes in the components of accumulated other comprehensive loss, net of taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unfunded Unrealized Pension (Gain)/Loss on (Dollars in thousands) Liability Securities Total Three months ended March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at beginning of period ​ $ 5,746 ​ $ 1,998 ​ $ 7,744 ​ Other comprehensive income, net of taxes ​ — ​ (337) ​ (337) ​ Net current period other comprehensive income ​ — ​ (337) ​ (337) ​ Balances at end of period ​ $ 5,746 ​ $ 1,661 ​ $ 7,407 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at beginning of period ​ $ 5,524 ​ $ — ​ $ 5,524 ​ Other comprehensive loss, net of taxes ​ ​ — ​ ​ 103 ​ ​ 103 ​ Net current period other comprehensive loss ​ — ​ 103 ​ 103 ​ Balances at end of period ​ $ 5,524 ​ $ 103 ​ $ 5,627 ​ ​ The table below presents the tax effect on each component of accumulated other comprehensive loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2023 2022 Pretax After Tax Pretax After Tax (Dollars in thousands) Amount Tax Amount Amount Tax Amount Unrealized (gain) loss on securities ​ $ (459) ​ $ 122 ​ $ (337) ​ $ 141 ​ $ (38) ​ $ 103 ​ Total ​ $ (459) ​ $ 122 ​ $ (337) ​ $ 141 ​ $ (38) ​ $ 103 ​ ​ ​ ​

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue Recognition
Revenue Recognition	(14) Revenue Recognition ​ The Company’s contracts with customers are generally short-term in nature, with cycles of one year or less. These can range from an immediate term for services such as wire transfers, foreign currency exchanges, and cashier’s check purchases, to several days for services such as processing annuity and mutual fund sales. Some contracts may be of an ongoing nature, such as providing deposit account services, including ATM access, check processing, account analysis, and check ordering. However, provision of an assessable service and payment for such service is usually concurrent or closely timed. Contracts related to financial instruments, such as loans, investments, and debt, are excluded from the scope of this reporting requirement. ​ After analyzing the Company’s revenue sources, including the amount of revenue received, the timing of services rendered, and the timing of payment for these services, the Company has determined that the rendering of services and the payment for such services are generally closely matched. Any differences are not material to the Company’s Consolidated Financial Statements. Accordingly, the Company generally records income when payment for services is received. ​ Revenue from contracts with customers is reported in service and other fees in other noninterest income in the Consolidated Statements of Income. The table below reconciles the revenue from contracts with customers and other revenue reported in those line items: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service and ​ ​ ​ ​ (Dollars in thousands) Other Fees Other Total Three months ended March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from contracts with customers ​ $ 275 ​ $ 42 ​ $ 317 Other revenue ​ ​ 35 ​ ​ 33 ​ ​ 68 Total ​ $ 310 ​ $ 75 ​ $ 385 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from contracts with customers ​ $ 310 ​ $ 44 ​ $ 354 Other revenue ​ ​ 31 ​ ​ 1,053 ​ ​ 1,084 Total ​ $ 341 ​ $ 1,097 ​ $ 1,438 ​

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases
Leases	​ (15) Leases ​ The table below presents lease costs and other information for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, (Dollars in thousands) 2023 2022 Lease costs: ​ ​ ​ ​ ​ ​ ​ Operating lease costs ​ $ 705 ​ $ 762 ​ Short-term lease costs ​ 104 ​ 15 ​ Variable lease costs ​ 43 ​ 38 ​ Total lease costs ​ $ 852 ​ $ 815 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in measurement of lease liabilities ​ $ 769 ​ $ 763 ​ ROU assets obtained in exchange for new operating lease liabilities ​ $ 118 ​ $ 4,798 ​ ​ At March 31, 2023, future minimum rental commitments under noncancellable operating leases are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 2,216 ​ ​ ​ ​ ​ ​ 2024 ​ 2,757 ​ ​ ​ ​ ​ ​ 2025 ​ 2,137 ​ ​ ​ ​ ​ ​ 2026 ​ 1,974 ​ ​ ​ ​ ​ ​ 2027 ​ 1,896 ​ ​ ​ ​ ​ ​ Thereafter ​ 10,995 ​ ​ ​ ​ ​ ​ Total ​ ​ 21,975 ​ ​ ​ ​ ​ ​ Less lease incentives to be received in 2023 ​ ​ (4,996) ​ ​ ​ ​ ​ ​ Less present value discount ​ ​ (2,259) ​ ​ ​ ​ ​ ​ Present value of leases ​ $ 14,720 ​ ​ ​ ​ ​ ​ ​ The table below presents other lease related information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ March 31, ​ ​ ​ 2023 ​ 2022 ​ Weighted-average remaining lease term (years) ​ 8.80 ​ ​ 8.92 ​ ​ Weighted-average discount rate ​ ​ 2.09 % ​ ​ 1.90 % ​ ​

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
Fair Value
Fair Value	(16) Fair Value ​ In accordance with the Fair Value Measurements and Disclosures topic of the FASB ASC, the Company groups its financial assets and liabilities measured or disclosed at fair value into three levels based on the markets in which the financial assets and liabilities are traded and the reliability of the assumptions used to determine fair value as follows: ​ ● Level 1 — Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities traded in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. ​ ● Level 2 — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. ​ ● Level 3 — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect management’s own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models and similar techniques that require the use of significant judgment or estimation. ​ In accordance with the Fair Value Measurements and Disclosures topic, the Company bases its fair values on the price that it would expect to receive if an asset were sold or the price that it would expect to pay to transfer a liability in an orderly transaction between market participants at the measurement date. Also as required, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when developing fair value measurements. ​ The Company uses fair value measurements to determine fair value disclosures. Investment securities available for sale and derivatives are recorded at fair value on a recurring basis. From time to time, the Company may be required to record other financial assets at fair value on a nonrecurring basis, such as loans held for sale, impaired loans and investments, and mortgage servicing assets. These nonrecurring fair value adjustments typically involve application of the lower of cost or fair value accounting or write-downs of individual assets. ​ Investment Securities Available for Sale. ​ Interest Rate Contracts. The Company may enter into interest rate lock commitments with borrowers on loans intended to be sold. To manage interest rate risk on the lock commitments, the Company may also enter into forward loan sale commitments. The interest rate lock commitments and forward loan sale commitments are treated as derivatives and are recorded at their fair value determined by referring to prices quoted in the secondary market for similar contracts. The fair value inputs are considered Level 2 inputs. Interest rate contracts that are classified as assets are included with prepaid expenses and other assets on the Consolidated Balance Sheet while interest rate contracts that are classified as liabilities are included with accounts payable and accrued expenses. ​ The estimated fair values of the Company’s financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ Fair Value Measurements Using (Dollars in thousands) Amount Fair Value Level 1 Level 2 Level 3 March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 84,860 ​ $ 84,860 ​ $ 84,860 ​ $ — ​ $ — ​ Investment securities available for sale ​ ​ 21,073 ​ ​ 21,073 ​ ​ — ​ ​ 21,073 ​ ​ — ​ Investment securities held to maturity ​ 715,601 ​ ​ 602,045 ​ ​ — ​ ​ 602,045 ​ ​ — ​ Loans receivable, net ​ 1,291,310 ​ ​ 1,159,417 ​ ​ — ​ ​ — ​ ​ 1,159,417 ​ FHLB stock ​ 12,444 ​ ​ 12,444 ​ ​ — ​ ​ 12,444 ​ ​ — ​ FRB stock ​ ​ 3,177 ​ ​ 3,177 ​ ​ — ​ ​ 3,177 ​ ​ — ​ Accrued interest receivable ​ 6,128 ​ ​ 6,128 ​ ​ 100 ​ ​ 1,554 ​ ​ 4,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,661,973 ​ ​ 1,655,368 ​ ​ — ​ ​ 1,211,525 ​ ​ 443,843 ​ Advances from the Federal Home Loan Bank ​ 246,000 ​ ​ 239,598 ​ ​ — ​ ​ 239,598 ​ ​ — ​ Securities sold under agreements to repurchase ​ 10,000 ​ ​ 9,530 ​ ​ — ​ ​ 9,530 ​ ​ — ​ Accrued interest payable ​ 1,012 ​ ​ 1,012 ​ ​ — ​ ​ 36 ​ ​ 976 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 40,553 ​ $ 40,553 ​ $ 40,553 ​ $ — ​ $ — ​ Investment securities available for sale ​ ​ 20,821 ​ ​ 20,821 ​ ​ — ​ ​ 20,821 ​ ​ — ​ Investment securities held to maturity ​ 717,773 ​ ​ 591,084 ​ ​ — ​ ​ 591,084 ​ ​ — ​ Loans receivable, net ​ 1,294,764 ​ ​ 1,180,840 ​ ​ — ​ ​ — ​ ​ 1,180,840 ​ FHLB stock ​ 8,197 ​ ​ 8,197 ​ ​ — ​ ​ 8,197 ​ ​ — ​ FRB stock ​ ​ 3,170 ​ ​ 3,170 ​ ​ — ​ ​ 3,170 ​ ​ — ​ Accrued interest receivable ​ 6,115 ​ ​ 6,115 ​ ​ 23 ​ ​ 1,497 ​ ​ 4,595 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,716,152 ​ ​ 1,708,612 ​ ​ — ​ ​ 1,286,465 ​ ​ 422,147 ​ Advances from the Federal Home Loan Bank ​ 141,000 ​ ​ 133,145 ​ ​ — ​ ​ 133,145 ​ ​ — ​ Securities sold under agreements to repurchase ​ 10,000 ​ ​ 9,440 ​ ​ — ​ ​ 9,440 ​ ​ — ​ Accrued interest payable ​ 701 ​ ​ 701 ​ ​ — ​ ​ 33 ​ ​ 668 ​ ​ At March 31, 2023 and December 31, 2022, neither the commitment fees received on commitments to extend credit nor the fair value thereof was material to the Consolidated Financial Statements of the Company. ​ The table below presents the balance of assets and liabilities measured at fair value on a recurring basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale ​ $ — ​ $ 21,073 ​ $ — ​ $ 21,073 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale ​ — ​ 20,821 ​ — ​ 20,821 ​ ​ There were no assets or liabilities measured at fair value on a nonrecurring basis as of March 31, 2023 or December 31, 2022.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events
Subsequent Events	(18) Subsequent Events ​ On April 27, 2023, the Board of Directors of Territorial Bancorp Inc. declared a quarterly cash dividend of $0.23 per share of common stock. The dividend is expected to be paid on May 25, 2023 to stockholders of record as of May 11, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Basis of Presentation	(a) Basis of Presentation ​ The accompanying unaudited interim condensed consolidated financial statements of Territorial Bancorp Inc. have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited interim condensed consolidated financial statements and notes should be read in conjunction with the Company’s consolidated financial statements and notes thereto filed as part of the Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, all adjustments necessary for a fair presentation have been made and consist only of normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year.
Allowance of Credit Losses (ACL) on Loans and Securities	​ (b) Allowance of Credit Losses (ACL) on Loans and Securities ​ The current expected credit losses (CECL) accounting standard requires an estimate of the credit losses expected over the life of the financial instrument. CECL replaces the incurred loss approach that delayed the recognition of a credit loss until it was probable and a loss event occurred. ​ The estimate of expected credit losses is based on information about past events, current conditions and reasonable and supportable forecasts that affect the collectability of financial instruments. Historical loss experience is generally the starting point for estimating expected credit losses. The Company considers whether the historical loss experience should be adjusted for asset specific risk characteristics or current conditions at the reporting date that did not exist over the historical reporting period. These qualitative adjustment can include changes in the economy, loan underwriting standards, and delinquency trends. The Company then considers future economic conditions as part of the one year reasonable and supportable forecast period. ​ The Bank’s loan portfolio is segmented into three pools: real estate, commercial and consumer loans. Only pools are used to segment the Bank’s loan portfolio because they share the same risk characteristics and were originated using similar underwriting standards. Loans that do not share similar risk characteristics would be evaluated on an individual basis and excluded from the collective evaluation. ​ The real estate pool consists primarily of residential mortgage loans secured by real estate in Hawaii. These loans have fixed interest rates, loan terms of up to 30 years , and were originated using similar loan terms. The commercial loan pool consists of business loans. The consumer loan pool consists primarily of home equity lines of credit secured by real estate in Hawaii. ​ The ACL on loans is estimated by calculating the total present value of expected cash flows discounted by the loan’s effective interest rate. The expected cash flows includes estimates of loan charge-offs and recoveries, loan prepayments, and credit utilization. The expected cash flows on the loans are adjusted using forecasts of economic variables which have a strong correlation with loan charge-offs and recoveries, prepayments, and credit utilization during the one year reasonable and supportable forecast period. After the reasonable and supportable forecast period, the historical reversion rate is used to calculate loan charge-offs and recoveries, prepayments, and credit utilization. The reversion rate is based on historical averages. Qualitative adjustments may be made to account for current conditions and forward looking events not captured in the historical information. ​ The ACL is calculated on a loan by loan basis. If the loan’s amortized cost basis is less than the total present value of cash flows calculated using a discounted cash flow approach, the ACL is equal to the amortized cost basis minus the total present value of cash flows on the loan discounted by the loan’s effective interest rate. Charge-offs to the ACL are made when management determines that the collectability of all or a portion of a loan is doubtful and available collateral is insufficient to repay the loan. ​ A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For loans which are considered to be collateral-dependent, the Company has elected to estimate the expected credit loss based on the fair value of the collateral less selling costs. If the fair value of the collateral less selling costs is less than the loan’s fair value, the Company records a partial charge-off to reduce the loan’s amortized cost basis for the difference between the collateral fair value less selling costs and the amortized cost basis. ​ Loans receivable are stated at amortized cost which includes the principal amount outstanding, less the allowance for credit losses, deferred loan origination fees and costs, commitment fees, and cumulative net charge-offs. Interest income on loans receivable is accrued as earned. ​ The Company has a policy of placing loans on a nonaccrual basis when 90 days or more contractually delinquent or when, in the opinion of management, collection of all or part of the principal balance appears doubtful, unless the loans are well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued and not collected is reversed against current period interest income. For nonaccrual loans, the Company records payments received as a reduction in principal. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current and full payment of principal and interest is expected. ​ Accrued interest receivable on loans was $4.5 million as of March 31, 2023 and is included in Accrued interest receivable on the Consolidated Balance Sheet. ​ The Company is required to utilize the CECL methodology to estimate expected credit losses with respect to held-to-maturity (HTM) investment securities. Since all of the Company’s HTM investment securities were issued by U.S. government agencies or U.S. government sponsored enterprises, which include the explicit and/or implicit guarantee of the U.S. government and have a long history of no credit losses, the Company did not record a credit loss on these securities. The unrealized losses on these securities were due to changes in interest rates, relative to when the securities were purchased, and are not due to decreases in the credit quality of the securities. ​ Available for sale (AFS) investment securities in an unrealized loss position are evaluated for impairment. The Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the investment securities amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the investment security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in other comprehensive income. ​ Changes in the ACL are recorded as a provision for (or reversal of) credit losses. Losses are charged against the ACL when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. ​ Since all of the Company’s AFS investment securities were issued by U.S. government agencies or U.S. government sponsored enterprises and include the explicit and/or implicit guarantee of the U.S. government, the Company did not record a credit loss on these securities. The unrealized loss on AFS securities were due to changes in interest rates, relative to when the securities were purchased. Management has concluded that the long history with
Recently Issued Accounting Pronouncements	​ In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU changes the threshold for recognizing losses from a “probable” to an “expected” model. The new model is referred to as the current expected credit loss model and applies to loans, leases, held-to-maturity investments, loan commitments, and financial guarantees. The standard requires the measurement of all expected credit losses for financial assets as of the reporting date (including historical experience, current conditions, and reasonable and supportable forecasts) and enhanced disclosures that will help financial statement users understand the estimates and judgments used in estimating credit losses and evaluating the credit quality of an organization’s portfolio. The amendment was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued an update that delays the effective date of the amendment for smaller reporting companies, as defined by the Securities and Exchange Commission, to fiscal years beginning after December 15, 2022. The Company is a smaller reporting company. The Company adopted the standard on January 1, 2023, and applied the standard’s provisions as a cumulative-effect adjustment to retained earnings as of January 1, 2023. Upon adoption of the standard, the Company recorded a million after-tax decrease to retained earnings as of January 1, 2023. The tax effect resulted in an increase to deferred tax assets. ​ In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The ASU eliminates the accounting guidance for loans modified as troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. This ASU was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, upon the Company’s adoption of the amendments in ASU 2016-13. The Company adopted the standard on January 1, 2023, and it did not have a material effect on the Company’s consolidated financial statements. ​ In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions to clarify that contractual sale restrictions should not be considered in the measurement of the fair value of an equity security. The Company owns stock in the Federal Reserve Bank (FRB) and in the Federal Home Loan Bank (FHLB) which is valued at historical cost which approximates fair value. Ownership of stock is a condition for services the Company receives from the FRB and FHLB. The stock is not publically traded and can only be issued, exchanged, redeemed or repurchased by the FRB and the FHLB. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023. The Company does not expect the adoption of this ASU to have a material effect on its consolidated financial statements.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	3 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents
Schedule of balances of cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Dollars in thousands) 2023 2022 Cash and due from banks ​ $ 11,782 ​ $ 9,722 ​ Interest-earning deposits in other banks ​ 73,078 ​ 30,831 ​ Cash and cash equivalents ​ $ 84,860 ​ $ 40,553 ​ ​

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investment Securities.
Schedule of amortized cost and fair values of investment securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated ​ ​ (Dollars in thousands) Cost Gains Losses Fair Value ​ ACL March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government-sponsored enterprises ​ $ 23,337 ​ $ — $ (2,264) ​ $ 21,073 ​ $ — Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 715,601 ​ ​ 80 ​ (113,636) ​ ​ 602,045 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 738,938 ​ $ 80 $ (115,900) ​ $ 623,118 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government-sponsored enterprises ​ $ 23,544 ​ $ — $ (2,723) ​ $ 20,821 ​ $ — Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 717,773 ​ ​ 62 ​ (126,751) ​ ​ 591,084 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 741,317 ​ $ 62 $ (129,474) ​ $ 611,905 ​ $ — ​
Schedule of amortized cost and estimated fair value of investment securities by maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Estimated (Dollars in thousands) Cost Fair Value Available-for-sale: ​ ​ ​ ​ ​ ​ ​ Due after 10 years ​ $ 23,337 ​ $ 21,073 ​ Total ​ $ 23,337 ​ $ 21,073 ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ Due within 5 years ​ $ 19 ​ $ 19 ​ Due after 5 years through 10 years ​ 9 ​ 8 ​ Due after 10 years ​ 715,573 ​ 602,018 ​ Total ​ $ 715,601 ​ $ 602,045 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of investment securities in an unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Number of Unrealized Description of securities Fair Value Losses Fair Value Losses Securities Fair Value Losses (Dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government-sponsored enterprises ​ $ 4,414 ​ $ (250) ​ $ 16,659 ​ $ (2,014) 4 ​ $ 21,073 ​ $ (2,264) ​ Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 92,902 ​ ​ (3,738) ​ ​ 502,468 ​ ​ (109,898) 150 ​ ​ 595,370 ​ ​ (113,636) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 97,316 ​ $ (3,988) ​ $ 519,127 ​ $ (111,912) ​ 154 ​ $ 616,443 ​ $ (115,900) ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government sponsored enterprises ​ $ 20,821 ​ $ (2,723) ​ $ — ​ $ — 4 ​ $ 20,821 ​ $ (2,723) ​ Held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises ​ ​ 210,128 ​ ​ (22,209) ​ ​ 377,418 ​ ​ (104,542) 148 ​ ​ 587,546 ​ ​ (126,751) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 230,949 ​ $ (24,932) ​ $ 377,418 ​ $ (104,542) ​ 152 ​ $ 608,367 ​ $ (129,474) ​ ​

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2023
Loans Receivable and Allowance for Credit Losses
Schedule of components of loans receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ (Dollars in thousands) 2023 2022 ​ Real estate loans: ​ ​ ​ ​ ​ ​ ​ ​ First mortgages: ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential ​ $ 1,253,020 ​ $ 1,253,558 ​ ​ Multi-family residential ​ 6,239 ​ 6,448 ​ ​ Construction, commercial, and other ​ 24,587 ​ 23,903 ​ ​ Home equity loans and lines of credit ​ 6,303 ​ 6,426 ​ ​ Total real estate loans ​ 1,290,149 ​ 1,290,335 ​ ​ Other loans: ​ ​ ​ ​ ​ ​ ​ ​ Loans on deposit accounts ​ 241 ​ 216 ​ ​ Consumer and other loans ​ 8,087 ​ 8,381 ​ ​ Total other loans ​ 8,328 ​ 8,597 ​ ​ Less: ​ ​ ​ ​ ​ ​ ​ ​ Net unearned fees and discounts ​ (2,040) ​ (2,136) ​ ​ Allowance for credit losses ​ (5,127) ​ (2,032) ​ ​ Total unearned fees, discounts, and allowance for credit losses ​ (7,167) ​ (4,168) ​ ​ Loans receivable, net ​ $ 1,291,310 ​ $ 1,294,764 ​ ​ ​
Schedule of activity in allowance for loan losses on loans receivable and by portfolio segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ Equity ​ ​ ​ Loans and ​ ​ Real Commercial Lines of Consumer ​ ​ (Dollars in thousands) Estate Loans Credit Loans ​ Unallocated Totals ​ Three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 1,263 ​ $ 434 ​ $ 1 ​ $ 75 ​ $ 259 ​ $ 2,032 ​ Adoption of ASU No. 2016-13 ​ ​ 3,393 ​ ​ 71 ​ ​ (1) ​ ​ 5 ​ ​ (259) ​ ​ 3,209 ​ (Reversal of provision) provision for credit losses ​ (27) ​ ​ (88) ​ ​ — ​ ​ 15 ​ ​ — ​ (100) ​ ​ ​ 4,629 ​ 417 ​ — ​ 95 ​ — ​ 5,141 ​ Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ (15) ​ ​ — ​ (15) ​ Recoveries ​ — ​ ​ — ​ ​ — ​ ​ 1 ​ ​ — ​ 1 ​ Net charge-offs ​ — ​ — ​ — ​ (14) ​ — ​ (14) ​ Balance, end of period ​ $ 4,629 ​ $ 417 ​ $ — ​ $ 81 ​ $ — ​ $ 5,127 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction, Home ​ ​ Commercial, Equity ​ ​ and Other Loans and ​ ​ Residential Mortgage Lines of Consumer ​ ​ (Dollars in thousands) Mortgage Loans Credit and Other ​ Unallocated Totals ​ Three months ended March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, beginning of period ​ $ 1,814 ​ $ 435 ​ $ 1 ​ $ 89 ​ $ 330 ​ $ 2,669 ​ (Reversal of provision) provision for credit losses ​ (180) ​ (1) ​ — ​ 45 ​ (32) ​ (168) ​ ​ ​ 1,634 ​ 434 ​ 1 ​ 134 ​ 298 ​ 2,501 ​ Charge-offs ​ — ​ — ​ — ​ (42) ​ — ​ (42) ​ Recoveries ​ — ​ — ​ — ​ — ​ — ​ — ​ Net charge-offs ​ — ​ — ​ — ​ (42) ​ — ​ (42) ​ Balance, end of period ​ $ 1,634 ​ $ 434 ​ $ 1 ​ $ 92 ​ $ 298 ​ $ 2,459 ​ ​
Schedule of balance in allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction, Home Commercial, Equity and Other Loans and Residential Mortgage Lines of Consumer (Dollars in thousands) Mortgage Loans Credit and Other Unallocated Totals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending allowance balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ Collectively evaluated for impairment ​ 1,263 ​ 434 ​ 1 ​ 75 ​ 259 ​ 2,032 ​ Total ending allowance balance ​ $ 1,263 ​ $ 434 ​ $ 1 ​ $ 75 ​ $ 259 ​ $ 2,032 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending loan balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 2,693 ​ $ — ​ $ 16 ​ $ — ​ $ 6 ​ $ 2,715 ​ Collectively evaluated for impairment ​ 1,255,300 ​ 23,775 ​ 6,411 ​ 8,595 ​ — ​ 1,294,081 ​ Total ending loan balance ​ $ 1,257,993 ​ $ 23,775 ​ $ 6,427 ​ $ 8,595 ​ $ 6 ​ $ 1,296,796 ​ ​
Schedule of balance of impaired loans individually evaluated for impairment by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Recorded Principal (Dollars in thousands) Investment Balance December 31, 2022: ​ ​ ​ ​ ​ ​ ​ With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ 2,693 ​ $ 3,209 ​ Home equity loans and lines of credit ​ ​ 16 ​ ​ 30 ​ Consumer Loans ​ ​ 6 ​ 6 ​ Total ​ $ 2,715 ​ $ 3,245 ​ ​
Schedule of average recorded investment and interest income recognized on impaired loans by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2022 Average Interest Recorded Income (Dollars in thousands) Investment Recognized With no related allowance recorded: ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ 3,782 ​ $ 7 ​ Home equity loans and lines of credit ​ 18 ​ — ​ Total ​ $ 3,800 ​ $ 7 ​ ​
Schedule of credit quality indicator by loan class and year.	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans ​ ​ ​ ​ Amortized Cost of Term Loans by Origination Year ​ Amortized ​ ​ ​ (Dollars in thousands) ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Cost Basis ​ Total March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 days past due ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — 60 - 89 days past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 90 days or more past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans not past due ​ ​ — ​ ​ 396 ​ ​ 4,952 ​ ​ — ​ ​ 228 ​ ​ 1,171 ​ ​ 1,218 ​ ​ 7,965 Total Commercial ​ ​ — ​ ​ 396 ​ ​ 4,952 ​ ​ — ​ ​ 228 ​ ​ 1,171 ​ ​ 1,218 ​ ​ 7,965 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 days past due ​ ​ 1 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 60 - 89 days past due ​ ​ — ​ ​ 3 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3 90 days or more past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans not past due ​ ​ 78 ​ ​ 113 ​ ​ 39 ​ ​ 88 ​ ​ 29 ​ ​ 48 ​ ​ 5,324 ​ ​ 5,719 Total Consumer ​ ​ 79 ​ ​ 116 ​ ​ 39 ​ ​ 88 ​ ​ 29 ​ ​ 48 ​ ​ 5,324 ​ ​ 5,723 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 days past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 874 ​ ​ — ​ ​ 874 60 - 89 days past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 51 ​ ​ — ​ ​ 51 90 days or more past due ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 140 ​ ​ 827 ​ ​ — ​ ​ 967 Loans not past due ​ ​ 19,531 ​ ​ 132,417 ​ ​ 290,917 ​ ​ 191,102 ​ ​ 95,150 ​ ​ 551,740 ​ ​ — ​ ​ 1,280,857 Total Real Estate ​ ​ 19,531 ​ ​ 132,417 ​ ​ 290,917 ​ ​ 191,102 ​ ​ 95,290 ​ ​ 553,492 ​ ​ — ​ ​ 1,282,749 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 19,610 ​ $ 132,929 ​ $ 295,908 ​ $ 191,190 ​ $ 95,547 ​ $ 554,711 ​ $ 6,542 ​ $ 1,296,437 ​
Schedule of aging of loans and accrual status by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans 90 Days or More 30 - 59 60 - 89 90 Days or Past Due Days Past Days Past More Total Past Loans Not Total Nonaccrual and Still (Dollars in thousands) Due Due Past Due Due Past Due Loans Loans Accruing March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ 859 ​ $ 51 ​ $ 967 ​ $ 1,877 ​ $ 1,249,239 ​ $ 1,251,116 ​ $ 2,357 ​ $ — ​ Multi-family residential mortgages ​ — ​ — ​ — ​ — ​ 6,230 ​ 6,230 ​ — ​ — ​ Construction, commercial, and other mortgages ​ — ​ — ​ — ​ — ​ 24,456 ​ 24,456 ​ — ​ — ​ Home equity loans and lines of credit ​ 15 ​ — ​ — ​ 15 ​ 6,290 ​ 6,305 ​ 15 ​ — ​ Loans on deposit accounts ​ — ​ — ​ — ​ — ​ 241 ​ 241 ​ — ​ — ​ Consumer and other ​ 1 ​ 3 ​ — ​ 4 ​ 8,085 ​ 8,089 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 875 ​ $ 54 ​ $ 967 ​ $ 1,896 ​ $ 1,294,541 ​ $ 1,296,437 ​ $ 2,372 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One- to four-family residential mortgages ​ $ — ​ $ 409 ​ $ 559 ​ $ 968 ​ $ 1,250,586 ​ $ 1,251,554 ​ $ 2,279 ​ $ — ​ Multi-family residential mortgages ​ — ​ — ​ — ​ — ​ 6,439 ​ 6,439 ​ — ​ — ​ Construction, commercial, and other mortgages ​ — ​ — ​ — ​ — ​ 23,775 ​ 23,775 ​ — ​ — ​ Home equity loans and lines of credit ​ — ​ — ​ — ​ — ​ 6,427 ​ 6,427 ​ 16 ​ — ​ Loans on deposit accounts ​ — ​ — ​ — ​ — ​ 217 ​ 217 ​ — ​ — ​ Consumer and other ​ 6 ​ — ​ 6 ​ 12 ​ 8,372 ​ 8,384 ​ 6 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 6 ​ $ 409 ​ $ 565 ​ $ 980 ​ $ 1,295,816 ​ $ 1,296,796 ​ $ 2,301 ​ $ — ​ ​
Schedule of amortized cost basis of loans on nonaccrual status	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 December 31, 2022 (Dollars in thousands) Nonaccrual Loans with a related ACL Nonaccrual loans without a related ACL Total Nonaccrual Loans Total Nonaccrual Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ $ 878 ​ $ 1,494 ​ $ 2,372 ​ $ 2,295 Consumer ​ — ​ — ​ — ​ 6 Commercial ​ — ​ — ​ — ​ — Total Nonaccrual Loans and Leases ​ $ 878 ​ $ 1,494 ​ $ 2,372 ​ $ 2,301 ​

Advances from the Federal Hom_2

Advances from the Federal Home Loan Bank (Tables)	3 Months Ended
	Mar. 31, 2023
Advances from the Federal Home Loan Bank
Schedule of advances outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 December 31, 2022 Weighted Weighted Average Average (Dollars in thousands) Amount Rate Amount Rate Due within one year ​ $ 24,000 1.27 % $ 24,000 1.27 % Due over 1 year to 2 years ​ 82,000 1.40 ​ 82,000 1.40 ​ Due over 2 years to 3 years ​ 25,000 1.58 ​ 25,000 1.58 ​ Due over 3 years to 4 years ​ ​ 40,000 ​ 3.70 ​ ​ 10,000 ​ 1.97 ​ Due over 4 years to 5 years ​ ​ 35,000 ​ 4.22 ​ ​ — ​ — ​ Due over 5 years to 6 years ​ 40,000 4.41 ​ — — ​ Total ​ $ 246,000 2.67 % $ 141,000 1.45 %

Securities Sold Under Agreeme_2

Securities Sold Under Agreements to Repurchase (Tables)	3 Months Ended
	Mar. 31, 2023
Securities Sold Under Agreements to Repurchase
Summary of securities sold under agreements to repurchase	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 December 31, 2022 Weighted Weighted Repurchase Average Repurchase Average (Dollars in thousands) Liability Rate Liability Rate Maturing: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over 1 year to 2 years ​ $ 10,000 1.81 % $ 5,000 1.88 % Over 2 years to 3 years ​ — — ​ ​ 5,000 1.73 ​ Total ​ $ 10,000 1.81 % $ 10,000 1.81 % ​
Summary comparing carrying value and fair value of securities pledged to secure repurchase agreements, repurchase liability, and amount at risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Carrying Fair Average Value of Value of Repurchase Amount Months to (Dollars in thousands) Securities Securities Liability at Risk Maturity Maturing: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over 90 days ​ $ 13,373 ​ $ 11,355 ​ $ 10,000 ​ $ 3,373 21 ​

Offsetting of Financial Liabi_2

Offsetting of Financial Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Offsetting of Financial Liabilities
Schedule of securities sold under agreements to repurchase subject to conditional right of offset	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Amount of Gross Amount Not Offset in the Gross Amount Gross Amount Liabilities Balance Sheet of Recognized Offset in the Presented in the Financial Cash Collateral (Dollars in thousands) Liabilities Balance Sheet Balance Sheet Instruments ​ Pledged Net Amount March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities sold under agreements to repurchase ​ $ 10,000 ​ $ — ​ $ 10,000 ​ $ 10,000 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities sold under agreements to repurchase ​ $ 10,000 ​ $ — ​ $ 10,000 ​ $ 10,000 ​ $ — ​ $ —

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	3 Months Ended
	Mar. 31, 2023
Employee Stock Ownership Plan.
Schedule of shares held by the ESOP trust	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, 2023 2022 Allocated shares ​ 595,708 ​ 583,474 ​ ​ Unearned shares ​ 281,364 ​ 293,598 ​ ​ Total ESOP shares ​ 877,072 ​ 877,072 ​ ​ Fair value of unearned shares, in thousands ​ $ 5,433 ​ $ 7,049 ​ ​ ​

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Schedule of compensation expense and related tax benefit for all share-based awards	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (In thousands) 2023 2022 Compensation expense ​ $ (42) ​ $ 134 ​ Income tax benefit ​ (11) ​ 37 ​ ​
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Aggregate Average Remaining Intrinsic Exercise Contractual Value Options Price Life (years) (in thousands) Options outstanding at December 31, 2021 3,085 ​ $ 23.62 0.67 ​ $ 5 ​ Granted — ​ — — ​ — ​ Exercised — ​ — — ​ — ​ Forfeited — ​ — — ​ — ​ Expired — ​ — — ​ — ​ Options outstanding at March 31, 2022 3,085 ​ $ 23.62 0.42 ​ $ 1 ​ ​
Restricted Stock
Schedule of restricted stock award activity	​ ​ ​ ​ ​ ​ ​ ​ Weighted Time-Based Average Grant Restricted Date Fair Stock Value Unvested at December 31, 2022 23,664 ​ $ 24.15 ​ Granted — ​ — ​ Vested 4,540 ​ 21.05 ​ Forfeited — ​ — ​ Unvested at March 31, 2023 19,124 ​ $ 24.89 ​ ​ ​ ​ ​ ​ ​ ​ Unvested at December 31, 2021 23,208 ​ $ 24.61 ​ Granted — ​ — ​ Vested 8,001 ​ 23.75 ​ Forfeited — ​ — ​ Unvested at March 31, 2022 15,207 ​ $ 25.06 ​ ​
Restricted Stock Units Based on a Performance Condition
Schedule of restricted stock award activity	​ ​ ​ ​ ​ ​ ​ Performance- ​ ​ ​ ​ Based Restricted ​ ​ ​ Stock Units Weighted ​ ​ Based on a ​ Average Grant ​ ​ Performance ​ Date Fair Condition Value Unvested at December 31, 2022 43,557 ​ $ 23.63 Granted — ​ — Vested — ​ — Forfeited 16,348 ​ 21.05 Unvested at March 31, 2023 27,209 ​ $ 25.18 ​ ​ ​ ​ ​ ​ Unvested at December 31, 2021 41,583 ​ $ 24.68 Granted — ​ — Vested 7,670 ​ 27.30 Forfeited 4,768 ​ 27.30 Unvested at March 31, 2022 29,145 ​ $ 23.56 ​
Restricted Stock Units Based on a Market Condition
Schedule of restricted stock award activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Performance- ​ ​ ​ ​ ​ Based Restricted ​ Monte Carlo ​ ​ Stock Units ​ Valuation of ​ ​ Based on a ​ the Company's Market Condition Stock Unvested at December 31, 2022 10,889 ​ $ 24.04 Granted — ​ ​ — Vested — ​ — Forfeited 4,087 ​ 22.16 Unvested at March 31, 2023 6,802 ​ $ 25.16 ​ ​ ​ ​ ​ ​ Unvested at December 31, 2021 10,396 ​ $ 24.03 Granted — ​ ​ — Vested — ​ — Forfeited 3,110 ​ 24.45 Unvested at March 31, 2022 7,286 ​ $ 23.85 ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share
Schedule of information used to compute basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (Dollars in thousands, except per share data) 2023 2022 Net income ​ $ 2,316 ​ $ 4,710 ​ Income allocated to participating securities ​ ​ (19) ​ ​ (24) ​ Net income available to common shareholders ​ $ 2,297 ​ $ 4,686 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average number of shares used in: ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ 8,774,634 ​ 8,980,135 ​ Dilutive common stock equivalents: ​ ​ ​ ​ ​ ​ ​ Stock options and restricted stock units ​ 32,110 ​ 34,319 ​ Diluted earnings per share ​ 8,806,744 ​ 9,014,454 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per common share, basic ​ $ 0.26 ​ $ 0.52 ​ Net income per common share, diluted ​ $ 0.26 ​ $ 0.52 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Loss
Schedule of changes in components of accumulated other comprehensive loss, net of taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unfunded Unrealized Pension (Gain)/Loss on (Dollars in thousands) Liability Securities Total Three months ended March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at beginning of period ​ $ 5,746 ​ $ 1,998 ​ $ 7,744 ​ Other comprehensive income, net of taxes ​ — ​ (337) ​ (337) ​ Net current period other comprehensive income ​ — ​ (337) ​ (337) ​ Balances at end of period ​ $ 5,746 ​ $ 1,661 ​ $ 7,407 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances at beginning of period ​ $ 5,524 ​ $ — ​ $ 5,524 ​ Other comprehensive loss, net of taxes ​ ​ — ​ ​ 103 ​ ​ 103 ​ Net current period other comprehensive loss ​ — ​ 103 ​ 103 ​ Balances at end of period ​ $ 5,524 ​ $ 103 ​ $ 5,627 ​ ​
Schedule of tax effect on each component of accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2023 2022 Pretax After Tax Pretax After Tax (Dollars in thousands) Amount Tax Amount Amount Tax Amount Unrealized (gain) loss on securities ​ $ (459) ​ $ 122 ​ $ (337) ​ $ 141 ​ $ (38) ​ $ 103 ​ Total ​ $ (459) ​ $ 122 ​ $ (337) ​ $ 141 ​ $ (38) ​ $ 103 ​ ​ ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue Recognition
Reconciliation of revenue from contracts with customers and other revenue reported in line items	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service and ​ ​ ​ ​ (Dollars in thousands) Other Fees Other Total Three months ended March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from contracts with customers ​ $ 275 ​ $ 42 ​ $ 317 Other revenue ​ ​ 35 ​ ​ 33 ​ ​ 68 Total ​ $ 310 ​ $ 75 ​ $ 385 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from contracts with customers ​ $ 310 ​ $ 44 ​ $ 354 Other revenue ​ ​ 31 ​ ​ 1,053 ​ ​ 1,084 Total ​ $ 341 ​ $ 1,097 ​ $ 1,438

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases
Schedule of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, (Dollars in thousands) 2023 2022 Lease costs: ​ ​ ​ ​ ​ ​ ​ Operating lease costs ​ $ 705 ​ $ 762 ​ Short-term lease costs ​ 104 ​ 15 ​ Variable lease costs ​ 43 ​ 38 ​ Total lease costs ​ $ 852 ​ $ 815 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in measurement of lease liabilities ​ $ 769 ​ $ 763 ​ ROU assets obtained in exchange for new operating lease liabilities ​ $ 118 ​ $ 4,798 ​ ​
Schedule of future minimum rental commitments under noncancellable operating leases and lease payment obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 2,216 ​ ​ ​ ​ ​ ​ 2024 ​ 2,757 ​ ​ ​ ​ ​ ​ 2025 ​ 2,137 ​ ​ ​ ​ ​ ​ 2026 ​ 1,974 ​ ​ ​ ​ ​ ​ 2027 ​ 1,896 ​ ​ ​ ​ ​ ​ Thereafter ​ 10,995 ​ ​ ​ ​ ​ ​ Total ​ ​ 21,975 ​ ​ ​ ​ ​ ​ Less lease incentives to be received in 2023 ​ ​ (4,996) ​ ​ ​ ​ ​ ​ Less present value discount ​ ​ (2,259) ​ ​ ​ ​ ​ ​ Present value of leases ​ $ 14,720 ​ ​ ​ ​ ​ ​ ​
Schedule of other lease related information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ March 31, ​ ​ ​ 2023 ​ 2022 ​ Weighted-average remaining lease term (years) ​ 8.80 ​ ​ 8.92 ​ ​ Weighted-average discount rate ​ ​ 2.09 % ​ ​ 1.90 % ​

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value
Schedule of estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ Fair Value Measurements Using (Dollars in thousands) Amount Fair Value Level 1 Level 2 Level 3 March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 84,860 ​ $ 84,860 ​ $ 84,860 ​ $ — ​ $ — ​ Investment securities available for sale ​ ​ 21,073 ​ ​ 21,073 ​ ​ — ​ ​ 21,073 ​ ​ — ​ Investment securities held to maturity ​ 715,601 ​ ​ 602,045 ​ ​ — ​ ​ 602,045 ​ ​ — ​ Loans receivable, net ​ 1,291,310 ​ ​ 1,159,417 ​ ​ — ​ ​ — ​ ​ 1,159,417 ​ FHLB stock ​ 12,444 ​ ​ 12,444 ​ ​ — ​ ​ 12,444 ​ ​ — ​ FRB stock ​ ​ 3,177 ​ ​ 3,177 ​ ​ — ​ ​ 3,177 ​ ​ — ​ Accrued interest receivable ​ 6,128 ​ ​ 6,128 ​ ​ 100 ​ ​ 1,554 ​ ​ 4,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,661,973 ​ ​ 1,655,368 ​ ​ — ​ ​ 1,211,525 ​ ​ 443,843 ​ Advances from the Federal Home Loan Bank ​ 246,000 ​ ​ 239,598 ​ ​ — ​ ​ 239,598 ​ ​ — ​ Securities sold under agreements to repurchase ​ 10,000 ​ ​ 9,530 ​ ​ — ​ ​ 9,530 ​ ​ — ​ Accrued interest payable ​ 1,012 ​ ​ 1,012 ​ ​ — ​ ​ 36 ​ ​ 976 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 40,553 ​ $ 40,553 ​ $ 40,553 ​ $ — ​ $ — ​ Investment securities available for sale ​ ​ 20,821 ​ ​ 20,821 ​ ​ — ​ ​ 20,821 ​ ​ — ​ Investment securities held to maturity ​ 717,773 ​ ​ 591,084 ​ ​ — ​ ​ 591,084 ​ ​ — ​ Loans receivable, net ​ 1,294,764 ​ ​ 1,180,840 ​ ​ — ​ ​ — ​ ​ 1,180,840 ​ FHLB stock ​ 8,197 ​ ​ 8,197 ​ ​ — ​ ​ 8,197 ​ ​ — ​ FRB stock ​ ​ 3,170 ​ ​ 3,170 ​ ​ — ​ ​ 3,170 ​ ​ — ​ Accrued interest receivable ​ 6,115 ​ ​ 6,115 ​ ​ 23 ​ ​ 1,497 ​ ​ 4,595 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,716,152 ​ ​ 1,708,612 ​ ​ — ​ ​ 1,286,465 ​ ​ 422,147 ​ Advances from the Federal Home Loan Bank ​ 141,000 ​ ​ 133,145 ​ ​ — ​ ​ 133,145 ​ ​ — ​ Securities sold under agreements to repurchase ​ 10,000 ​ ​ 9,440 ​ ​ — ​ ​ 9,440 ​ ​ — ​ Accrued interest payable ​ 701 ​ ​ 701 ​ ​ — ​ ​ 33 ​ ​ 668 ​ ​
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) Level 1 Level 2 Level 3 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale ​ $ — ​ $ 21,073 ​ $ — ​ $ 21,073 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale ​ — ​ 20,821 ​ — ​ 20,821 ​ ​

Organization - Narrative (Detai

Organization - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 subsidiary
Organization
Number of inactive subsidiaries	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Allowance of Credit Losses (ACL) on Loans and Securities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) item
Financing Receivable, Allowance for Credit Losses [Line Items]
Reasonable and supportable forecast period	1 year
Number of pools | item	3
Financing receivable accrued interest after allowance for credit loss	$ 4.5
ACL	$ 0
Real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Term of financing receivable	30 years

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Dec. 31, 2022
Reversal of provision for credit losses		$ (100)
After-tax decrease to retained earnings		$ 213,336	$ 215,314
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Reversal of provision for credit losses	$ 3,200
After-tax decrease to retained earnings	$ (2,300)

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents
Cash and due from banks	$ 11,782	$ 9,722
Interest-earning deposits in other banks	73,078	30,831
Cash and cash equivalents	$ 84,860	$ 40,553

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Values of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Available-for-Sale [Abstract]
Amortized Cost	$ 23,337
Estimated Fair Value	21,073	$ 20,821
ACL	0
Debt Securities, Held-to-Maturity, Maturity [Abstract]
Amortized Cost	715,601	717,773
Estimated Fair Value	602,045	591,084
Debt Securities, Available-for-Sale and Held-to-Maturity, after Allowance for Credit Loss [Abstract]
Total Amortized Cost	738,938	741,317
Total Gross Unrealized Gains	80	62
Total Gross Unrealized Losses	(115,900)	(129,474)
Total Estimated Fair Value	623,118	611,905
U.S. government-sponsored mortgage-backed securities
Available-for-Sale [Abstract]
Amortized Cost	23,337	23,544
Gross Unrealized Losses	(2,264)	(2,723)
Estimated Fair Value	21,073	20,821
Debt Securities, Held-to-Maturity, Maturity [Abstract]
Amortized Cost	715,601	717,773
Gross Unrealized Gains	80	62
Gross Unrealized Losses	(113,636)	(126,751)
Estimated Fair Value	602,045	$ 591,084
Debt Securities, Available-for-Sale and Held-to-Maturity, after Allowance for Credit Loss [Abstract]
Total ACL	$ 0

Investment Securities - Maturit

Investment Securities - Maturity Schedule of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost
Due after 10 years	$ 23,337
Amortized Cost	23,337
Estimated Fair Value
Due after 10 years	21,073
Estimated Fair Value	21,073	$ 20,821
U.S. government-sponsored mortgage-backed securities
Amortized Cost
Amortized Cost	23,337	23,544
Estimated Fair Value
Estimated Fair Value	$ 21,073	$ 20,821

Investment Securities - Matur_2

Investment Securities - Maturity Schedule of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Held-to-maturity, Amortized Cost
Due within 5 years	$ 19
Due after 5 years through 10 years	9
Due after 10 years	715,573
Amortized Cost	715,601	$ 717,773
Held-to-maturity, Estimated Fair Value
Due within 5 years	19
Due after 5 years through 10 years	8
Due after 10 years	602,018
Estimated Fair Value	$ 602,045	$ 591,084

Investment Securities - Securit

Investment Securities - Securities Pledged (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Realized gains and losses and the proceeds from sales of securities
Amortized cost	$ 715,601	$ 717,773
Debt Securities, Held-to-Maturity, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral with Right [Member]
Debt Securities, Held-to-Maturity, Pledging Purpose [Extensible Enumeration]	Amortized cost
Asset Pledged as Collateral with Right [Member]
Realized gains and losses and the proceeds from sales of securities
Amortized cost	$ 241,500	$ 272,800

Investment Securities - Availab

Investment Securities - Available-for-Sale Unrealized Loss Position Summary (Details) $ in Thousands	Mar. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
U.S. government-sponsored mortgage-backed securities
Schedule of Investments [Line Items]
Less Than 12 Months Fair Value	$ 4,414
Less Than 12 Months Unrealized Losses	(250)
12 Months or Longer Fair Value	16,659
12 Months or Longer Unrealized Losses	$ (2,014)
Number of Securities | security	4
Total Fair Value	$ 21,073
Total Unrealized Losses	$ (2,264)
U.S. government-sponsored mortgage-backed securities
Schedule of Investments [Line Items]
Less Than 12 Months Fair Value		$ 20,821
Less Than 12 Months Unrealized Losses		$ (2,723)
Number of Securities | security		4
Total Fair Value		$ 20,821
Total Unrealized Losses		$ (2,723)

Investment Securities - Held-to

Investment Securities - Held-to-Maturity Unrealized Loss Position Summary (Details) - U.S. government-sponsored mortgage-backed securities $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) security
Investment Securities
Less Than 12 Months Fair Value	$ 92,902	$ 210,128
Less Than 12 Months Unrealized Losses	(3,738)	(22,209)
12 Months or Longer Fair Value	502,468	377,418
12 Months or Longer Unrealized Losses	$ (109,898)	$ (104,542)
Total Number of Securities	150	148
Total Fair Value	$ 595,370	$ 587,546
Total Unrealized Losses	$ (113,636)	$ (126,751)

Investment Securities - Avail_2

Investment Securities - Available-for-Sale Unrealized Loss and Held-to-Maturity Total Unrealized Loss Position Summary (Details) $ in Thousands	Mar. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Investment Securities.
Total Less Than 12 Months Unrealized Fair Value	$ 97,316	$ 230,949
Total Less Than 12 Months Unrealized Losses	(3,988)	(24,932)
Total 12 Months or Longer Unrealized Fair Value	519,127	377,418
Total 12 Months or Longer Unrealized Losses	$ (111,912)	$ (104,542)
Total Number of Securities | security	154	152
Total Fair value	$ 616,443	$ 608,367
Total Unrealized losses	$ (115,900)	$ (129,474)

Investment Securities - Mortgag

Investment Securities - Mortgage-Backed Securities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
U.S. government-sponsored mortgage-backed securities
Schedule of Investments [Line Items]
Allowance for credit losses	$ 0

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Credit Losses - Components (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Components of loans receivable, net of allowance for credit losses
Less: Net unearned fees and discounts	$ (2,040)
Less: Allowance for loan losses	(5,127)	$ (2,032)
Total unearned fees, discounts, and allowance for credit losses	(7,167)
Loans receivable, net	1,291,310
Components of loans receivable, net of allowance for credit losses, prior adoption
Less: Net unearned fees and discounts		(2,136)
Less: Allowance for loan losses		(2,032)	$ (2,459)	$ (2,669)
Total unearned fees, discounts and allowance for loan losses		(4,168)
Loans receivable, net		1,294,764
Construction, Commercial and Other Mortgage Loans
Components of loans receivable, net of allowance for credit losses, prior adoption
Less: Allowance for loan losses		(434)	(434)	(435)
Home Equity Loans and Lines of Credit
Components of loans receivable, net of allowance for credit losses
Less: Allowance for loan losses		(1)
Components of loans receivable, net of allowance for credit losses, prior adoption
Less: Allowance for loan losses		(1)	(1)	(1)
Consumer and other
Components of loans receivable, net of allowance for credit losses, prior adoption
Less: Allowance for loan losses		(75)	(92)	(89)
Unallocated
Components of loans receivable, net of allowance for credit losses
Less: Allowance for loan losses		(259)
Components of loans receivable, net of allowance for credit losses, prior adoption
Less: Allowance for loan losses		(259)	$ (298)	$ (330)
Real estate loans
Components of loans receivable, net of allowance for credit losses
Total loans	1,290,149
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		1,290,335
Real estate loans | One- to four-family residential
Components of loans receivable, net of allowance for credit losses
Total loans	1,253,020
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		1,253,558
Real estate loans | Multi-family residential
Components of loans receivable, net of allowance for credit losses
Total loans	6,239
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		6,448
Real estate loans | Construction, Commercial and Other Mortgage Loans
Components of loans receivable, net of allowance for credit losses
Total loans	24,587
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		23,903
Real estate loans | Home Equity Loans and Lines of Credit
Components of loans receivable, net of allowance for credit losses
Total loans	6,303
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		6,426
Other loans
Components of loans receivable, net of allowance for credit losses
Total loans	8,328
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		8,597
Other loans | Loans on Deposit Accounts
Components of loans receivable, net of allowance for credit losses
Total loans	241
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		216
Other loans | Consumer and other
Components of loans receivable, net of allowance for credit losses
Total loans	$ 8,087
Components of loans receivable, net of allowance for credit losses, prior adoption
Loans receivable, net		$ 8,381

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Credit Losses - Activity in Allowance for Loan Losses by Segment (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Mar. 31, 2022
Activity in allowance for loan losses
Balance, beginning of period	$ 2,032	$ 2,032
(Reversal of provision) provision for credit losses		(100)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses		5,141
Charge-offs		(15)
Recoveries		1
Net charge-offs		14
Balance, end of period		5,127
Activity in allowance for loan losses, prior adoption
Balance, beginning of period	2,032	2,032	$ 2,669
(Reversal of provision) provision for loan losses			(168)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses			2,501
Charge-offs			(42)
Net charge-offs			(42)
Balance, end of period			2,459
Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13 [Member]
Activity in allowance for loan losses
Balance, beginning of period	3,209	3,209
(Reversal of provision) provision for credit losses	3,200
Real Estate
Activity in allowance for loan losses
Balance, beginning of period	1,263	1,263
(Reversal of provision) provision for credit losses		(27)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses		4,629
Balance, end of period		4,629
Real Estate | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13 [Member]
Activity in allowance for loan losses
Balance, beginning of period	3,393	3,393
Commercial
Activity in allowance for loan losses
Balance, beginning of period	434	434
(Reversal of provision) provision for credit losses		(88)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses		417
Balance, end of period		417
Commercial | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13 [Member]
Activity in allowance for loan losses
Balance, beginning of period	71	71
Residential Mortgage
Activity in allowance for loan losses, prior adoption
Balance, beginning of period	1,263	1,263	1,814
(Reversal of provision) provision for loan losses			(180)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses			1,634
Balance, end of period			1,634
Construction, Commercial and Other Mortgage Loans
Activity in allowance for loan losses, prior adoption
Balance, beginning of period	434	434	435
(Reversal of provision) provision for loan losses			(1)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses			434
Balance, end of period			434
Home Equity Loans and Lines of Credit
Activity in allowance for loan losses
Balance, beginning of period	1	1
Activity in allowance for loan losses, prior adoption
Balance, beginning of period	1	1	1
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses			1
Balance, end of period			1
Home Equity Loans and Lines of Credit | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13 [Member]
Activity in allowance for loan losses
Balance, beginning of period	(1)	(1)
Consumer
Activity in allowance for loan losses
Balance, beginning of period	75	75
(Reversal of provision) provision for credit losses		15
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses		95
Charge-offs		(15)
Recoveries		1
Net charge-offs		14
Balance, end of period		81
Consumer | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13 [Member]
Activity in allowance for loan losses
Balance, beginning of period	5	5
Unallocated
Activity in allowance for loan losses
Balance, beginning of period	259	259
Activity in allowance for loan losses, prior adoption
Balance, beginning of period	259	259	330
(Reversal of provision) provision for loan losses			(32)
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses			298
Balance, end of period			298
Unallocated | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13 [Member]
Activity in allowance for loan losses
Balance, beginning of period	(259)	(259)
Consumer and other
Activity in allowance for loan losses, prior adoption
Balance, beginning of period	$ 75	$ 75	89
(Reversal of provision) provision for loan losses			45
Allowance for loan losses on loans receivable after (reversal of provision) provision for loan losses			134
Charge-offs			(42)
Net charge-offs			(42)
Balance, end of period			$ 92

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Credit Losses - Allowance for Loan Losses and Loans, Net of Unearned Fees and Discounts, by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Allowance for loan losses:
Collectively evaluated for impairment	$ 2,032
Total ending allowance balance	2,032	$ 2,459	$ 2,669
Loans:
Individually evaluated for impairment	2,715
Collectively evaluated for impairment	1,294,081
Total ending loan balance	1,296,796
Residential Mortgage
Allowance for loan losses:
Collectively evaluated for impairment	1,263
Total ending allowance balance	1,263	1,634	1,814
Loans:
Individually evaluated for impairment	2,693
Collectively evaluated for impairment	1,255,300
Total ending loan balance	1,257,993
Construction, Commercial and Other Mortgage Loans
Allowance for loan losses:
Collectively evaluated for impairment	434
Total ending allowance balance	434	434	435
Loans:
Collectively evaluated for impairment	23,775
Total ending loan balance	23,775
Home Equity Loans and Lines of Credit
Allowance for loan losses:
Collectively evaluated for impairment	1
Total ending allowance balance	1	1	1
Loans:
Individually evaluated for impairment	16
Collectively evaluated for impairment	6,411
Total ending loan balance	6,427
Consumer and other
Allowance for loan losses:
Collectively evaluated for impairment	75
Total ending allowance balance	75	92	89
Loans:
Collectively evaluated for impairment	8,595
Total ending loan balance	8,595
Unallocated
Allowance for loan losses:
Collectively evaluated for impairment	259
Total ending allowance balance	259	$ 298	$ 330
Loans:
Individually evaluated for impairment	6
Total ending loan balance	$ 6

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Credit Losses - Impaired Loans by Class (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Dec. 31, 2022
Impaired loans
Recorded Investment			$ 2,715
Unpaid Principal Balance			3,245
Average Recorded Investment	$ 3,800
Interest Income Recognized	7
Loans individually evaluated for impairment with a related allowance for loan loss		$ 0	0
One- to four-family residential
Impaired loans
Recorded Investment			2,693
Unpaid Principal Balance			3,209
Average Recorded Investment	3,782
Interest Income Recognized	7
Home equity loans and lines of credit
Impaired loans
Recorded Investment			16
Unpaid Principal Balance			30
Average Recorded Investment	$ 18
Consumer and other
Impaired loans
Recorded Investment			6
Unpaid Principal Balance			$ 6

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Credit Losses - Amortized Cost by Credit Quality Indicator (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Financing Receivable, Recorded Investment, Past Due
2023	$ 19,610
2022	132,929
2021	295,908
2020	191,190
2019	95,547
Prior	554,711
Revolving Loans Amortized Cost Basis	6,542
Total	1,296,437
Commercial
Financing Receivable, Recorded Investment, Past Due
2022	396
2021	4,952
2019	228
Prior	1,171
Revolving Loans Amortized Cost Basis	1,218
Total	7,965
Consumer
Financing Receivable, Recorded Investment, Past Due
2023	79
2022	116
2021	39
2020	88
2019	29
Prior	48
Revolving Loans Amortized Cost Basis	5,324
Total	5,723
Real Estate
Financing Receivable, Recorded Investment, Past Due
2023	19,531
2022	132,417
2021	290,917
2020	191,102
2019	95,290
Prior	553,492
Total	1,282,749
Not Past Due | Commercial
Financing Receivable, Recorded Investment, Past Due
2022	396
2021	4,952
2019	228
Prior	1,171
Revolving Loans Amortized Cost Basis	1,218
Total	7,965
Not Past Due | Consumer
Financing Receivable, Recorded Investment, Past Due
2023	78
2022	113
2021	39
2020	88
2019	29
Prior	48
Revolving Loans Amortized Cost Basis	5,324
Total	5,719
Not Past Due | Real Estate
Financing Receivable, Recorded Investment, Past Due
2023	19,531
2022	132,417
2021	290,917
2020	191,102
2019	95,150
Prior	551,740
Total	1,280,857
30 - 59 Days Past Due | Consumer
Financing Receivable, Recorded Investment, Past Due
2023	1
Total	1
30 - 59 Days Past Due | Real Estate
Financing Receivable, Recorded Investment, Past Due
Prior	874
Total	874
60 - 89 Days Past Due | Consumer
Financing Receivable, Recorded Investment, Past Due
2022	3
Total	3
60 - 89 Days Past Due | Real Estate
Financing Receivable, Recorded Investment, Past Due
Prior	51
Total	51
90 Days or More Past Due | Real Estate
Financing Receivable, Recorded Investment, Past Due
2019	140
Prior	827
Total	$ 967

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Credit Losses - Aging of Loans and Accrual Status by Class (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Recorded Investment, Past Due
Total Loans	$ 1,296,437,000
Total Loans		$ 1,296,796,000
Nonaccrual Loans	2,372,000	2,301,000
Loans 90 Days or More Past Due and Still Accruing	0	0
One- to four-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	1,251,116,000
Total Loans		1,251,554,000
Nonaccrual Loans	2,357,000	2,279,000
Loans 90 Days or More Past Due and Still Accruing	0	0
Multi-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	6,230,000
Total Loans		6,439,000
Loans 90 Days or More Past Due and Still Accruing	0	0
Construction, Commercial and Other Mortgage Loans
Financing Receivable, Recorded Investment, Past Due
Total Loans	24,456,000
Total Loans		23,775,000
Loans 90 Days or More Past Due and Still Accruing	0	0
Home equity loans and lines of credit
Financing Receivable, Recorded Investment, Past Due
Total Loans	6,305,000
Total Loans		6,427,000
Nonaccrual Loans	15,000	16,000
Loans 90 Days or More Past Due and Still Accruing	0	0
Loans on Deposit Accounts
Financing Receivable, Recorded Investment, Past Due
Total Loans	241,000
Total Loans		217,000
Loans 90 Days or More Past Due and Still Accruing	0	0
Consumer and other
Financing Receivable, Recorded Investment, Past Due
Total Loans	8,089,000
Total Loans		8,384,000
Nonaccrual Loans		6,000
Loans 90 Days or More Past Due and Still Accruing	0	0
Not Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans	1,294,541,000
Total Loans		1,295,816,000
Not Past Due | One- to four-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	1,249,239,000
Total Loans		1,250,586,000
Not Past Due | Multi-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	6,230,000
Total Loans		6,439,000
Not Past Due | Construction, Commercial and Other Mortgage Loans
Financing Receivable, Recorded Investment, Past Due
Total Loans	24,456,000
Total Loans		23,775,000
Not Past Due | Home equity loans and lines of credit
Financing Receivable, Recorded Investment, Past Due
Total Loans	6,290,000
Total Loans		6,427,000
Not Past Due | Loans on Deposit Accounts
Financing Receivable, Recorded Investment, Past Due
Total Loans	241,000
Total Loans		217,000
Not Past Due | Consumer and other
Financing Receivable, Recorded Investment, Past Due
Total Loans	8,085,000
Total Loans		8,372,000
Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans	1,896,000
Total Loans		980,000
Past Due | One- to four-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	1,877,000
Total Loans		968,000
Past Due | Home equity loans and lines of credit
Financing Receivable, Recorded Investment, Past Due
Total Loans	15,000
Past Due | Consumer and other
Financing Receivable, Recorded Investment, Past Due
Total Loans	4,000
Total Loans		12,000
30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans	875,000
Total Loans		6,000
30 - 59 Days Past Due | One- to four-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	859,000
30 - 59 Days Past Due | Home equity loans and lines of credit
Financing Receivable, Recorded Investment, Past Due
Total Loans	15,000
30 - 59 Days Past Due | Consumer and other
Financing Receivable, Recorded Investment, Past Due
Total Loans	1,000
Total Loans		6,000
60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans	54,000
Total Loans		409,000
60 - 89 Days Past Due | One- to four-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	51,000
Total Loans		409,000
60 - 89 Days Past Due | Consumer and other
Financing Receivable, Recorded Investment, Past Due
Total Loans	3,000
90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans	967,000
Total Loans		565,000
90 Days or More Past Due | One- to four-family residential
Financing Receivable, Recorded Investment, Past Due
Total Loans	967,000
Total Loans	$ 967,000	559,000
90 Days or More Past Due | Consumer and other
Financing Receivable, Recorded Investment, Past Due
Total Loans		$ 6,000

Loans Receivable and Allowanc_9

Loans Receivable and Allowance for Credit Losses - Amortized cost basis of loans on nonaccrual status (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with a related ACL	$ 878
Nonaccrual loans without a related ACL	1,494
Total Nonaccrual Loans	2,372
Total Nonaccrual Loans	2,372	$ 2,301
Real Estate [Member]
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans with a related ACL	878
Nonaccrual loans without a related ACL	1,494
Total Nonaccrual Loans	$ 2,372
Total Nonaccrual Loans		2,295
Consumer
Financing Receivable, Nonaccrual [Line Items]
Total Nonaccrual Loans		$ 6

Loans Receivable and Allowan_10

Loans Receivable and Allowance for Credit Losses - Delinquent and Nonaccrual Loans (Details)	3 Months Ended
	Mar. 31, 2023
Loans Receivable and Allowance for Credit Losses
Loan delinquency period that may result in loss	90 days
Loan delinquency period after which an appraisal is obtained of the underlying collateral	4 months

Loans Receivable and Allowan_11

Loans Receivable and Allowance for Credit Losses - Troubled Debt Restructurings (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) loan	Mar. 31, 2022 loan	Dec. 31, 2022 USD ($)
Additional disclosures
Real estate owned	$ 0		$ 0
Loans modified in troubled debt restructuring
Troubled debt restructurings
Number of Loans | loan	0	0
Residential Mortgage
Additional disclosures
Mortgage loans in process of foreclosure, number of contracts	3		2
Mortgage loans in process of foreclosure, total value			$ 227,000
Residential Mortgage | One- to four-family residential
Additional disclosures
Mortgage loans in process of foreclosure, total value	$ 279,000

Loans Receivable and Allowan_12

Loans Receivable and Allowance for Credit Losses - Collateral, Sales, Serviced for Others, Directors and Executive Officers (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) loan
Accounts, Notes, Loans and Financing Receivable
Residential mortgage loans sold, recognized gains	$ 1,000	$ 18,000
Loans serviced for others	35,500,000		$ 36,000,000
Loans serviced for others, securitization for which the company continues to hold the related mortgage-backed securities	20,400,000		$ 20,700,000
Loans serviced for others, amount of contractually specified servicing fees earned	$ 23,000	27,000
Maximum
Accounts, Notes, Loans and Financing Receivable
Loan to value ratio (as a percent)	80%
Residential Mortgage Loans Held For Sale
Accounts, Notes, Loans and Financing Receivable
Residential mortgage loans sold, loan amount	$ 360,000	$ 2,000,000
Number of nonaccrual loans | loan			0

Advances from the Federal Hom_3

Advances from the Federal Home Loan Bank (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank advances
Federal Home Loan Bank stock, at cost	$ 12,444,000	$ 8,197,000
Federal Home Loan Bank, Advances, Rolling Maturity
Due within one year	24,000,000	24,000,000
Due over 1 year to 2 years	82,000,000	82,000,000
Due over 2 years to 3 years	25,000,000	25,000,000
Due over 3 years to 4 years	40,000,000	10,000,000
Due over 4 years to 5 years	35,000,000
Due over 5 years to 6 years	40,000,000
Total	$ 246,000,000	$ 141,000,000
Weighted Average Rate
Due within one year (as a percent)	1.27%	1.27%
Due over 1 year to 2 years (as a percent)	1.40%	1.40%
Due over 2 years to 3 years (as a percent)	1.58%	1.58%
Due over 3 years to 4 years (as a percent)	3.70%	1.97%
Due over 4 years to 5 years (as a percent)	4.22%
Due over 5 years to 6 years (as a percent)	4.41%
Total (as a percent)	2.67%	1.45%
FHLB Des Moines
Federal Home Loan Bank advances
Available additional unused FHLB advances	$ 630,100	$ 769,100
Territorial Savings Bank | FHLB Des Moines
Federal Home Loan Bank advances
Percentage of total assets used to determine maximum line of credit	45%

Securities Sold Under Agreeme_3

Securities Sold Under Agreements to Repurchase - Summary of Repurchase Liability by Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Securities sold under agreements to repurchase
Repurchase Liability	$ 10,000	$ 10,000
Rate (as a percent)	1.81%	1.81%
Over 1 year to 2 years
Securities sold under agreements to repurchase
Repurchase Liability	$ 10,000	$ 5,000
Rate (as a percent)	1.81%	1.88%
Over 2 years to 3 years
Securities sold under agreements to repurchase
Repurchase Liability		$ 5,000
Rate (as a percent)		1.73%

Securities Sold Under Agreeme_4

Securities Sold Under Agreements to Repurchase - Summary of Securities Pledged (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Securities sold under agreements to repurchase
Repurchase liability maximum	90%
Maturing Over 90 days
Securities sold under agreements to repurchase
Carrying Value of Securities	$ 13,373
Fair Value of Securities	11,355
Repurchase Liability	10,000
Amount at Risk	$ 3,373
Weighted Average Months to Maturity	21 months

Offsetting of Financial Liabi_3

Offsetting of Financial Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Securities sold under agreements to repurchase
Gross Amount of Recognized Liabilities	$ 10,000	$ 10,000
Net Amount of Liabilities Presented in the Balance Sheet	10,000	10,000
Gross amount not offset in the balance sheet
Financial Instruments	$ 10,000	$ 10,000

Employee Stock Ownership Plan -

Employee Stock Ownership Plan - Loan, Expense and Shares (Details) - USD ($)		3 Months Ended
	Jan. 01, 2009	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Employee Stock Ownership Plan
Allocated shares		595,708		583,474
Unearned shares		281,364		293,598
Total ESOP shares		877,072		877,072
Fair value of unearned shares, in thousands		$ 5,433,000		$ 7,049,000
ESOP
Employee Stock Ownership Plan
Amount borrowed from employer	$ 9,800,000
Shares purchased	978,650
Percentage of shares issued in initial public offering	8%
Employee stock ownership plan, price per share of shares acquired in initial public offering (in dollars per share)	$ 10
Term of loan		20 years
ESOP expense		$ 281,000	$ 305,000
ESOP | Prime rate
Employee Stock Ownership Plan
Variable interest rate		prime rate, as published in The Wall Street Journal

Employee Stock Ownership Plan_2

Employee Stock Ownership Plan - Nonqualified ESOP Restoration Plan (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
ESOP restoration | Certain executives
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Accrued (reversed) benefits	$ 7,000	$ 36,000

Share-Based Compensation - Plan

Share-Based Compensation - Plan Provisions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Compensation
Compensation expense	$ (42)	$ 134
Income tax benefit	$ (11)	$ 37
2010 Equity Incentive Plan | Vesting period one
Share-Based Compensation
Vesting period	3 years
2010 Equity Incentive Plan | Vesting period two
Share-Based Compensation
Vesting period	5 years
2010 Equity Incentive Plan | Vesting period three
Share-Based Compensation
Vesting period	6 years
2019 Equity Incentive Plan
Share-Based Compensation
Shares remaining available for new awards under the 2019 Equity Plan	144,630

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Stock option activity
Balance at beginning of period (in shares)		3,085
Balance at end of period (in shares)	0	3,085	3,085
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)		$ 23.62
Balance at end of period (in dollars per share)		$ 23.62	$ 23.62
Remaining Contractual Life
Options outstanding		5 months 1 day	8 months 1 day
Aggregate Intrinsic Value
Beginning of period		$ 5
End of period		$ 1	$ 5
Vested during period (in shares)		0
Unrecognized compensation costs	$ 0

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Awards (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
2019 Equity Incentive Plan
Unrecognized compensation
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	144,630
Restricted Stock
Restricted Stock Awards
Unvested at beginning of period (in shares)	23,664	23,208
Granted (in shares)	0	0
Vested (in shares)	4,540	8,001
Unvested at end of period (in shares)	19,124	15,207
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share)	$ 24.15	$ 24.61
Granted (in dollars per share)	0	0
Vested (in dollars per share)	21.05	23.75
Unvested at end of period (in dollars per share)	$ 24.89	$ 25.06
Unrecognized compensation
Unrecognized compensation costs	$ 288,000
Restricted Stock Units Based on a Performance Condition
Restricted Stock Awards
Unvested at beginning of period (in shares)	43,557	41,583
Vested (in shares)		7,670
Forfeited (in shares)	16,348	4,768
Unvested at end of period (in shares)	27,209	29,145
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share)	$ 23.63	$ 24.68
Vested (in dollars per share)		27.30
Forfeited (in dollars per share)	21.05	27.30
Unvested at end of period (in dollars per share)	$ 25.18	$ 23.56
Unrecognized compensation
Unrecognized compensation costs	$ 73,000
Unrecognized compensation costs, period of recognition	3 years
Restricted Stock Units Based on a Market Condition
Restricted Stock Awards
Unvested at beginning of period (in shares)	10,889	10,396
Forfeited (in shares)	4,087	3,110
Unvested at end of period (in shares)	6,802	7,286
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share)	$ 24.04	$ 24.03
Forfeited (in dollars per share)	22.16	24.45
Unvested at end of period (in dollars per share)	$ 25.16	$ 23.85
Unrecognized compensation
Unrecognized compensation costs		$ 53,000
Unrecognized compensation costs, period of recognition	3 years
Performance Based Restricted Stock Units (PRSUs)
Unrecognized compensation
Unrecognized compensation costs, period of recognition	3 years

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share
Net income	$ 2,316	$ 4,710
Income allotted to participating securities	(19)	(24)
Net income available to common shareholders	$ 2,297	$ 4,686
Weighted-average number of shares used in:
Basic earnings per share (in shares)	8,774,634	8,980,135
Dilutive common stock equivalents:
Stock options and restricted stock units (in shares)	32,110	34,319
Diluted earnings per share (in shares)	8,806,744	9,014,454
Net income per common share, basic (in dollars per share)	$ 0.26	$ 0.52
Net income per common share, diluted (in dollars per share)	$ 0.26	$ 0.52

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in the components of accumulated other comprehensive loss, net of taxes
Balances at beginning of period	$ (256,550)	$ (256,322)
Other comprehensive (income) loss, net of taxes	(337)	103
Net current period other comprehensive (income) loss	(337)	103
Balances at end of period	(253,761)	(257,982)
Accumulated Other Comprehensive (Loss)/Income
Changes in the components of accumulated other comprehensive loss, net of taxes
Balances at beginning of period	7,744	5,524
Net current period other comprehensive (income) loss	(337)	103
Balances at end of period	7,407	5,627
Unfunded Pension Liability
Changes in the components of accumulated other comprehensive loss, net of taxes
Balances at beginning of period	5,746	5,524
Balances at end of period	5,746	5,524
Unrealized (Gain) / Loss on Securities
Changes in the components of accumulated other comprehensive loss, net of taxes
Balances at beginning of period	1,998
Other comprehensive (income) loss, net of taxes	(337)	103
Net current period other comprehensive (income) loss	(337)	103
Balances at end of period	1,661	103
Other comprehensive (income) loss, net of taxes
Changes in the components of accumulated other comprehensive loss, net of taxes
Other comprehensive (income) loss, net of taxes	$ (337)	$ 103

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Tax Effect on Each Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Tax effect on each component of other comprehensive loss
Pretax amount	$ (459)	$ 141
Tax	122	(38)
After Tax Amount	(337)	103
Unrealized (Gain) / Loss on Securities
Tax effect on each component of other comprehensive loss
Pretax amount	(459)	141
Tax	122	(38)
After Tax Amount	$ (337)	$ 103

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Revenue from contracts with customers	$ 317	$ 354
Other revenue	68	1,084
Total	385	1,438
Service and Other Fees
Revenues
Revenue from contracts with customers	275	310
Other revenue	35	31
Total	310	341
Other
Revenues
Revenue from contracts with customers	42	44
Other revenue	33	1,053
Total	$ 75	$ 1,097

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lease costs:
Operating lease costs	$ 705	$ 762
Short-term lease costs	104	15
Variable lease costs	43	38
Total lease costs	852	815
Cash paid for amounts included in measurement of lease liabilities	769	763
ROU assets obtained in exchange for new operating lease liabilities	$ 118	$ 4,798

Leases - Future Minimum Rental

Leases - Future Minimum Rental Commitments Under Non-cancellable Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Future minimum rental commitments:
2023	$ 2,216
2024	2,757
2025	2,137
2026	1,974
2027	1,896
Thereafter	10,995
Total	21,975
Less lease incentives to be received in 2023	(4,996)
Less present value discount	(2,259)
Present value of leases	$ 14,720	$ 15,295

Leases - Other Related Informat

Leases - Other Related Information (Details)	Mar. 31, 2023	Mar. 31, 2022
Leases
Weighted-average remaining lease term (years)	8 years 9 months 18 days	8 years 11 months 1 day
Weighted-average discount rate	2.09%	1.90%

Fair Value - Estimated Fair Val

Fair Value - Estimated Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Investment securities available for sale, at fair value	$ 21,073	$ 20,821
Investment securities held to maturity	602,045	591,084
Carrying Amount
Assets
Cash and cash equivalents	84,860	40,553
Investment securities available for sale, at fair value	21,073	20,821
Investment securities held to maturity	715,601	717,773
Loans receivable, net	1,291,310	1,294,764
FHLB stock	12,444	8,197
FRB stock	3,177	3,170
Accrued interest receivable	6,128	6,115
Liabilities
Deposits	1,661,973	1,716,152
Advances from the Federal Home Loan Bank	246,000	141,000
Securities sold under agreements to repurchase	10,000	10,000
Accrued interest payable	1,012	701
Estimated Fair Value
Assets
Cash and cash equivalents	84,860	40,553
Investment securities available for sale, at fair value	21,073	20,821
Investment securities held to maturity	602,045	591,084
Loans receivable, net	1,159,417	1,180,840
FHLB stock	12,444	8,197
FRB stock	3,177	3,170
Accrued interest receivable	6,128	6,115
Liabilities
Deposits	1,655,368	1,708,612
Advances from the Federal Home Loan Bank	239,598	133,145
Securities sold under agreements to repurchase	9,530	9,440
Accrued interest payable	1,012	701
Estimated Fair Value | Level 1
Assets
Cash and cash equivalents	84,860	40,553
Accrued interest receivable	100	23
Estimated Fair Value | Level 2
Assets
Investment securities available for sale, at fair value	21,073	20,821
Investment securities held to maturity	602,045	591,084
FHLB stock	12,444	8,197
FRB stock	3,177	3,170
Accrued interest receivable	1,554	1,497
Liabilities
Deposits	1,211,525	1,286,465
Advances from the Federal Home Loan Bank	239,598	133,145
Securities sold under agreements to repurchase	9,530	9,440
Accrued interest payable	36	33
Estimated Fair Value | Level 3
Assets
Loans receivable, net	1,159,417	1,180,840
Accrued interest receivable	4,474	4,595
Liabilities
Deposits	443,843	422,147
Accrued interest payable	$ 976	$ 668

Fair Value - Recurring Basis (D

Fair Value - Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets and Liabilities Measured at Fair Value on Recurring Basis
Investment securities available for sale, at fair value	$ 21,073	$ 20,821
Fair Value, Measurements, Recurring
Assets and Liabilities Measured at Fair Value on Recurring Basis
Investment securities available for sale, at fair value	21,073	20,821
Fair Value, Measurements, Recurring | Level 2
Assets and Liabilities Measured at Fair Value on Recurring Basis
Investment securities available for sale, at fair value	$ 21,073	$ 20,821

Fair Value - Nonrecurring Basis

Fair Value - Nonrecurring Basis (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Fair Value, Measurements, Nonrecurring
Assets Measured at Fair Value on Nonrecurring Basis and Related Losses
Fair value	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended
	Apr. 27, 2023	Mar. 31, 2023	Mar. 31, 2022
Subsequent Events
Quarterly cash dividend declared on common stock (in dollars per share)		$ 0.23	$ 0.23
Subsequent event
Subsequent Events
Quarterly cash dividend declared on common stock (in dollars per share)	$ 0.23