Esquire Financial (ESQ) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Esquire Financial Holdings, Inc.
Entity Central Index Key	1,531,031
Trading Symbol	esq
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,326,536
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and due from banks	$ 771	$ 437
Interest earning deposits	30,675	42,556
Total cash and cash equivalents	31,446	42,993
Securities available-for-sale, at fair value	107,816	92,645
Securities, restricted, at cost	1,883	1,649
Loans	328,670	278,578
Less: allowance for loan losses	(4,084)	(3,413)
Loans, net	324,586	275,165
Premises and equipment, net	2,627	2,767
Accrued interest receivable	2,197	1,541
Deferred tax asset	2,452	3,108
Other assets	7,768	4,965
Total assets	480,775	424,833
Deposits:
Demand	136,196	124,990
Savings, NOW and money market	231,303	221,843
Time	27,422	23,955
Total deposits	394,921	370,788
Secured borrowings	280	371
Accrued expenses and other liabilities	2,321	1,488
Total liabilities	397,522	372,647
Commitments and Contingencies
Stockholders' equity:
Preferred Stock, par value $0.01; authorized 2,000,000 shares; issued and outstanding 0 shares at September 30, 2017 and 66,985 shares (non-voting) at December 31, 2016		1
Common stock, par value $0.01; authorized 15,000,000 shares; issued and outstanding 7,326,536 shares at September 30, 2017, and 5,002,950 shares at December 31, 2016	73	50
Additional paid-in capital	86,527	58,845
Retained deficit	(2,843)	(5,826)
Accumulated other comprehensive loss	(504)	(884)
Total stockholders' equity	83,253	52,186
Total liabilities and stockholders' equity	$ 480,775	$ 424,833

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parentheticals) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued (non-voting)	0	66,985
Preferred stock, shares outstanding (non-voting)	0	66,985
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	7,326,536	5,002,950
Common stock, shares outstanding	7,326,536	5,002,950

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income:
Loans	$ 4,630	$ 3,539	$ 12,519	$ 10,210
Securities	631	498	1,809	1,465
Interest earning deposits and other	93	39	214	104
Total interest income	5,354	4,076	14,542	11,779
Interest expense:
Savings, NOW and money market deposits	101	111	316	307
Time deposits	22	23	70	48
Borrowings	5	6	16	19
Total interest expense	128	140	402	374
Net interest income	5,226	3,936	14,140	11,405
Provision for loan losses	275	180	725	455
Net interest income after provision for loan losses	4,951	3,756	13,415	10,950
Non-interest income:
Customer related fees and service charges	548	283	1,442	761
Merchant processing income	797	774	2,467	2,320
Net gains on sales of available-for-sale securities				6
Total non-interest income	1,345	1,057	3,909	3,087
Non-interest expense:
Employee compensation and benefits	2,466	2,114	7,180	6,061
Occupancy and equipment, net	393	359	1,155	912
Professional and consulting services	548	393	1,453	1,305
FDIC assessment	42	37	126	118
Advertising and marketing	134	90	340	333
Travel and business relations	92	95	320	266
OCC assessments	31	27	94	81
Data processing	466	302	1,245	981
Other operating expenses	253	203	705	506
Total non-interest expense	4,425	3,620	12,618	10,563
Net income before income taxes	1,871	1,193	4,706	3,474
Income tax expense	730	453	1,723	1,343
Net income	$ 1,141	$ 740	$ 2,983	$ 2,131
Earnings per common share
Basic (in dollars per share)	$ 0.16	$ 0.15	$ 0.51	$ 0.42
Diluted (in dollars per share)	$ 0.16	$ 0.14	$ 0.51	$ 0.42

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 1,141	$ 740	$ 2,983	$ 2,131
Other comprehensive income:
Unrealized holding gains (losses) arising during the period on securities available for sale	(1)	(358)	623	1,836
Reclassification adjustment for net gains included in net income	0	0	0	(6)
Tax effect	5	140	(243)	(713)
Total other comprehensive income (loss)	4	(218)	380	1,117
Total comprehensive income	$ 1,145	$ 522	$ 3,363	$ 3,248

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Preferred stock	Common stock	Additional paid in capital	Retained deficit	Accumulated other comprehensive loss	Total
Balance at Dec. 31, 2016	$ 1	$ 50	$ 58,845	$ (5,826)	$ (884)	$ 52,186
Balance (in shares) at Dec. 31, 2016	66,985	5,002,950
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				2,983		2,983
Other comprehensive income					380	380
Conversion of preferred stock	$ (1)	$ 1
Conversion of preferred stock (in shares)	(66,985)	66,985
Exercise of stock options, net of share settlement		$ 1	941			942
Exercise of stock options, net of share settlement (in shares)		101,941
Issuance of common stock, net of issuance costs		$ 21	26,320			26,341
Issuance of common stock, net of issuance costs (in shares)		2,154,660
Options expense			421			421
Balance at Sep. 30, 2017		$ 73	$ 86,527	$ (2,843)	$ (504)	$ 83,253
Balance (in shares) at Sep. 30, 2017		7,326,536

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 2,983	$ 2,131
Net cash provided by operating activities:
Provision for loan losses	725	455
Net gains on sales of available-for-sale securities		(6)
Depreciation	308	136
Stock options expense	421	249
Net amortization:
Securities	296	215
Loans	470	325
Changes in other assets and liabilities:
Accrued interest receivable	(656)	(138)
Deferred tax asset	413	(1,051)
Other assets	(2,803)	(1,275)
Accrued expenses and other liabilities	833	12
Net cash provided by operating activities	2,990	1,053
Cash flows from investing activities:
Net change in loans	(50,616)	(43,567)
Purchases of securities available for sale	(31,446)	(23,066)
Proceeds of sales of securities available for sale		4,068
Principal repayments on securities available for sale	16,602	8,402
Purchases of securities, restricted	(234)	(200)
Other assets		1,249
Purchases of premises and equipment	(168)	(2,145)
Net cash used in investing activities	(65,862)	(55,259)
Cash flows from financing activities:
Net increase in deposits	24,133	51,629
Decrease in secured borrowings	(91)	(8)
Exercise of stock options	942
Proceeds from issuance of common stock	26,341	1
Net cash provided by financing activities	51,325	51,622
Decrease in cash and cash equivalents	(11,547)	(2,584)
Cash and cash equivalents at beginning of the period	42,993	33,154
Cash and cash equivalents at end of the period	31,446	30,570
Cash paid during the period for:
Interest	398	373
Income taxes	$ 2,330	$ 111

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	NOTE 1 — Basis of Presentation The interim consolidated financial statements include the accounts of Esquire Financial Holdings, Inc. and its wholly owned subsidiary, Esquire Bank, N.A. These entities are collectively referred to as “the Company.” All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial information. In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are recurring in nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the years ended December 31, 2016 and 2015. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or any other period. Subsequent Events The Bank has evaluated subsequent events for recognition and disclosure through the date of issuance. Secured Borrowing The Company had a secured borrowing of $280 and $371 as of September 30, 2017 and December 31, 2016, respectively, relating to certain loan participations sold by the Company that did not qualify for sales treatment. Preferred Stock In July of 2017, the Company and the preferred shareholder agreed to perform an exchange of 66,985 shares of 0.00% of Series B non-voting preferred shares for 66,985 voting common shares, par value $0.01. As of September 30, 2017 there are no preferred shares outstanding. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are now such matters that will have a material effect on the consolidated financial statements. New Accounting Pronouncements Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606)” implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the (Financial Accounting Standards Board FASB) deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. Management has identified the revenue streams that are in scope, which includes merchants processing income and other categories of noninterest income. We are in process of establishing a control structure to manage the implementation of the ASU with respect to new revenue streams. We are in process of evaluating the impact of the ASU with respect to financial statement disclosures. We do not expect the ASU to have a significant impact on our operating results or financial condition. On January 5, 2016, the FASB issued ASU 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (the ASU). Under this ASU, the current GAAP model is changed in the areas of accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU will be effective for public business entities in beginning after December 15, 2017, including interim periods within those fiscal years. Adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. On February 25, 2016, the FASB completed its Leases project by issuing ASU No. 2017-02, “Leases (Topic 842).” The new guidance affects any organization that enters into a lease, or sublease, with some specified exemptions. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP, which requires only capital leases to be recognized on the balance sheet, the new ASU will require both types of leases to be recognized on the balance sheet. The ASU will also require expanded disclosures and will take effect for fiscal years beginning after December 15, 2018, and for interim periods within those fiscal years. The Company is currently evaluating the impact of the ASU on its financial condition and results of operations. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): “Improvements to Employee Share-Based Payment Accounting.” This update includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. For public companies, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Adoption of this standard in the first quarter of 2017 did not have a material effect on the Company’s operating results or financial condition. On June 16, 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (the ASU). This ASU replaces the incurred loss model with an expected loss model, referred to as “current expected credit loss” (CECL) model. It will significantly change estimates for credit losses related to financial assets measured at amortized cost, including loans receivable, held-to-maturity (HTM) debt securities and certain other contracts. This ASU will be effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently gathering data and building a roadmap for the implementation of the standard.

Securities

Securities	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Securities	NOTE 2 — Securities Available-for-Sale Securities The amortized cost, gross unrealized gains and losses and estimated fair value of securities available-for-sale were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2017 Mortgage-backed securities - agency $ 20,747 $ 19 $ (233 ) $ 20,533 Collateralized mortgage obligations (CMO's) - agency 87,895 176 (788 ) 87,283 Total available-for-sale $ 108,642 $ 195 $ (1,021 ) $ 107,816 December 31, 2016 Mortgage-backed securities - agency $ 16,417 $ 12 $ (417 ) $ 16,012 Collateralized mortgage obligations (CMO's) - agency 77,677 56 (1,100 ) 76,633 Total available-for-sale $ 94,094 $ 68 $ (1,517 ) $ 92,645 The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. We have no securities due at a single maturity. September 30, 2017 Amortized Cost Fair Value Mortgage-backed securities - agency $ 20,747 $ 20,533 CMO's - agency 87,895 87,283 Total $ 108,642 $ 107,816 Mortgage-backed securities include residential pass-through certificates guaranteed by FHLMC, FNMA, or GNMA and the CMO’s are backed by government agency pass-through certificates. The 2017 and 2016 pass-through certificates are fixed rate instruments. CMO’s, by virtue of the underlying residential collateral or structure, are fixed rate current pay sequentials or planned amortization classes (PAC’s). When purchasing investment securities, the Company’s overall interest-rate risk profile is considered as well as the adequacy of expected returns relative to risks assumed, including prepayments. In continuously managing the investment securities portfolio, management occasionally sells investment securities in response to, or in anticipation of, changes in interest rates and spreads, actual or anticipated prepayments, liquidity needs and credit risk associated with a particular security. The proceeds from sales and calls of securities and the associated gains and losses are listed below for the periods indicated: For the three months ended, For the nine months ended, September 30, September 30, 2017 2016 2017 2016 Proceeds $ - $ - $ - $ 4,068 Gross gains - - - 6 Gross losses - - - - The tax provision related to the realized gain was $2 for the nine months ended September 30, 2016. At September 30, 2017, securities having a fair value of $87,283 were pledged to the Federal Home Loan Bank of New York (FHLB) for borrowing capacity totaling $82,978. At December 31, 2016, securities having a fair value of approximately $76,633 were pledged to the FHLB for borrowing capacity totaling $72,837. At September 30, 2017 and December 31, 2016, the Company had no outstanding FHLB advances. At September 30, 2017, securities having a fair value of $20,533 were pledged to the Federal Reserve Bank of New York (FRB) for borrowing capacity totaling $20,151. At December 31, 2016, securities having a fair value of approximately $16,012 were pledged to the FRB for borrowing capacity totaling $15,580. At September 30, 2017 and December 31, 2016, the Company had no outstanding FRB borrowings. The following table provides the gross unrealized losses and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of: Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses September 30, 2017 Mortgage-backed securities - agency $ 17,236 $ (217 ) $ 1,487 $ (16 ) $ 18,723 $ (233 ) CMO's - Agency 46,173 (615 ) 9,108 (173 ) 55,281 (788 ) Total temporarily impaired securities $ 63,409 $ (832 ) $ 10,595 $ (189 ) $ 74,004 $ (1,021 ) December 31, 2016 Mortgage-backed securities - agency $ 13,936 $ (417 ) $ - $ - $ 13,936 $ (417 ) CMO's - Agency 50,269 (859 ) 5,973 (241 ) 56,242 (1,100 ) Total temporarily impaired securities $ 64,205 $ (1,276 ) $ 5,973 $ (241 ) $ 70,178 $ (1,517 ) Management reviews the investment portfolio on a quarterly basis to determine the cause, magnitude and duration of declines in the fair value of each security. In estimating other-than-temporary impairment (OTTI), management considers many factors including: (1) the length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the security or more likely than not will be required to sell the security before its anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) OTTI related to credit loss, which must be recognized in the income statement and (2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. The assessment of whether any other than temporary decline exists may involve a high degree of subjectivity and judgment and is based on the information available to management at a point in time. Management evaluates securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. At September 30, 2017, securities in unrealized loss positions were issuances from government sponsored entities. Due to the decline in fair value attributable to changes in interest rates, not credit quality and because the Company does not have the intent to sell the securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider the securities to be other-than-temporarily impaired at September 30, 2017. No impairment charges were recorded for the three and nine months ended September 30, 2017 and 2016.

Loans

Loans	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Loans	NOTE 3 — Loans The composition of loans by class is summarized as follows: September 30, 2017 % of December 31, 2016 % of 1-4 family residential $ 51,625 16 % $ 49,597 18 % Commercial 125,581 38 % 106,064 38 % Multifamily 93,246 29 % 83,410 30 % Commercial real estate 22,500 7 % 22,198 8 % Construction 4,480 1 % 5,610 2 % Consumer 30,047 9 % 10,571 4 % Total Loans 327,479 100 % 277,450 100 % Deferred costs and unearned premiums, net 1,191 1,128 Allowance for loan losses (4,084 ) (3,413 ) Net loans $ 324,586 $ 275,165 The following tables present the activity in the allowance for loan losses by class for the three months ending September 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total September 30, 2017 Allowance for loan losses: Beginning balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 Provision for loan losses 25 71 13 14 3 149 275 Recoveries - - - - - - - Loans charged-off - (14 ) - - - - (14 ) Total ending allowance balance $ 383 $ 2,211 $ 677 $ 240 $ 112 $ 461 $ 4,084 September 30, 2016 Allowance for loan losses: Beginning balance $ 319 $ 1,735 $ 552 $ 218 $ 164 $ 112 $ 3,100 Provision (credit) for loan losses 35 122 93 (52 ) (23 ) 5 180 Recoveries - - - - - - - Loans charged-off - - - - - (7 ) (7 ) Total ending allowance balance $ 354 $ 1,857 $ 645 $ 166 $ 141 $ 110 $ 3,273 The following tables present the activity in the allowance for loan losses by class for the nine months ending September 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total September 30, 2017 Allowance for loan losses: Beginning balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Provision (credit) for loan losses 23 291 56 2 (29 ) 382 725 Recoveries - - - - - - - Loans charged-off - (14 ) - - - (40 ) (54 ) Total ending allowance balance $ 383 $ 2,211 $ 677 $ 240 $ 112 $ 461 $ 4,084 September 30, 2016 Allowance for loan losses: Beginning balance $ 213 $ 1,536 $ 533 $ 230 $ 134 $ 153 $ 2,799 Provision (credit) for loan losses 141 295 112 (64 ) 7 (36 ) 455 Recoveries - 26 - - - - 26 Loans charged-off - - - - - (7 ) (7 ) Total ending allowance balance $ 354 $ 1,857 $ 645 $ 166 $ 141 $ 110 $ 3,273 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by class and based on impairment method as of September 30, 2017 and December 31, 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total September 30, 2017 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 383 2,211 677 240 112 461 4,084 Total ending allowance balance $ 383 $ 2,211 $ 677 $ 240 $ 112 $ 461 $ 4,084 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 51,625 125,581 93,246 22,500 4,480 30,047 327,479 Total ending loans balance $ 51,625 $ 125,581 $ 93,246 $ 22,500 $ 4,480 $ 30,047 $ 327,479 Recorded investment is not adjusted for accrued interest and deferred costs due to immateriality. 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total December 31, 2016 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 360 1,934 621 238 141 119 3,413 Total ending allowance balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 49,597 106,064 83,410 22,198 5,610 10,571 277,450 Total ending loans balance $ 49,597 $ 106,064 $ 83,410 $ 22,198 $ 5,610 $ 10,571 $ 277,450 Non-Performing Loans Non-performing loans include loans 90 days past due and still accruing and non-accrual loans. At September 30, 2017 and December 31, 2016, none of the Company’s loans met these conditions. The following tables present the aging of the recorded investment in past due loans by class of loans as of September 30, 2017 and December 31, 2016: 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Loans Not Past Due Total September 30, 2017 1-4 family residential $ - $ - $ - $ - $ 51,625 $ 51,625 Commercial - - - - 125,581 125,581 Multifamily - - - - 93,246 93,246 Commercial real estate - - - - 22,500 22,500 Construction - - - - 4,480 4,480 Consumer - - - - 30,047 30,047 Total $ - $ - $ - $ - $ 327,479 $ 327,479 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Loans Not Past Due Total December 31, 2016 1-4 family residential $ 203 $ - $ - $ 203 $ 49,394 $ 49,597 Commercial - - - - 106,064 106,064 Multifamily - - - - 83,410 83,410 Commercial real estate - - - - 22,198 22,198 Construction - - - - 5,610 5,610 Consumer - - - - 10,571 10,571 Total $ 203 $ - $ - $ 203 $ 277,247 $ 277,450 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed whenever a credit is extended, renewed or modified, or when an observable event occurs indicating a potential decline in credit quality, and no less than annually for large balance loans. The Company uses the following definitions for risk ratings: Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Special Mention Substandard Doubtful September 30, 2017 1-4 family residential $ 51,625 $ - $ - $ - Commercial 117,931 7,650 - - Multifamily 93,246 - - - Commercial real estate 22,500 - - - Construction 4,480 - - - Consumer 30,047 - - - Total $ 319,829 $ 7,650 $ - $ - Pass Special Mention Substandard Doubtful December 31, 2016 1-4 family residential $ 49,597 $ - $ - $ - Commercial 105,777 287 - - Multifamily 83,410 - - - Commercial real estate 22,198 - - - Construction 5,610 - - - Consumer 10,571 - - - Total $ 277,163 $ 287 $ - $ - The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The Company has no loans identified as troubled debt restructurings at September 30, 2017 and December 31, 2016. Furthermore, there were no loan modifications during the three and nine months ended September 30, 2017 and 2016 that were troubled debt restructurings. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy.

Share-Based Payment Plans

Share-Based Payment Plans	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payment Plans	NOTE 4 — Share-Based Payment Plans Stock Option Plan The Company issues incentive and non-statutory stock options (”options”) to certain employees and directors pursuant to its equity incentive plans, which have been approved by the stockholders. Options to purchase common stock are recommended by the Compensation Committee of the Board of Directors, which are then approved by the full Board. At September 30, 2017, there are options outstanding from two plans, the 2007 Stock Option Plan (“the 2007 Plan”) and the 2011 Stock Compensation Plan (“the 2011 Plan”). The 2007 Plan allowed for a maximum of 270,000 shares of common stock to be issued. The 2007 Plan expired in May of 2017. The 2011 Plan allows for 754,607 shares to be issued, of which 750,545 have been issued as of September 30, 2017. Under the Stock Option Plans, options are granted with an exercise price equal to the fair value of the Company’s stock at the date of the grant. Options granted vest on five annual installments (20% per annum) and have ten year contractual terms. All options provide for accelerated vesting upon a change in control (as defined in the two plans). Stock options exercised result in the issuance of new shares. The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on peer volatility. The Company uses peer data to estimate option exercise and post-vesting termination behavior. The expected term of options granted is based on peer data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. There were no stock options granted during the three and nine months ended September 30, 2017. The fair value of options granted during the three and nine months ended September 30, 2016 was determined using the following weighted average assumptions as of the grant date: Three months ended Nine months ended September 30, 2016 September 30, 2016 Risk-Free Interest Rate 1.43 % 1.44 % Expected Term 84 months 84 months Expected Stock Price Volatility 24.1 % 24.1 % Dividend Yield 0.0 % 0.0 % Weighted Average Fair Value $ 3.61 $ 3.61 The following table presents a summary of the activity related to options as of September 30, 2017: Weighted Weighted Average Average Remaining Exercise Contractual Options Price Life (Years) September 30, 2017 Outstanding at beginning of year 1,024,045 $ 12.13 Granted - - Exercised (132,120 ) 10.61 Forfeited (11,000 ) 11.36 Outstanding at period end 880,925 $ 12.36 7.40 Vested or expected to vest 880,925 $ 12.36 7.40 Exercisable at period end 352,480 $ 12.16 5.91 The Company recognized compensation expense related to options of $133 and $97 for the three months ended September 30, 2017 and 2016, respectively. The Company recognized compensation expense related to options of $421 and $249 for the nine months ended September 30, 2017 and 2016, respectively. At September 30, 2017, unrecognized compensation cost related to non-vested options was approximately $1,749 and is expected to be recognized over a weighted average period of 3.36 years. The intrinsic value for outstanding options and options vested or expected to vest was $3,151, and was $1,296 for exercisable options, at September 30, 2017.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2017
Earnings per Share
Earnings per Share	NOTE 5 — Earnings per Share The two-class method is used in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to participation rights in undistributed earnings. Our preferred shares are considered participating securities. The factors used in the earnings per share computation follow: Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Basic Net income available to common shareholders $ 1,141 $ 740 $ 2,983 $ 2,131 Less: Earnings allocated to preferred stock 3 10 27 53 Net income allocated to common shareholders $ 1,138 $ 730 $ 2,956 $ 2,078 Weighted average common shares outstanding 7,212,603 5,002,950 5,771,627 4,943,783 Basic earnings per common share $ 0.16 $ 0.15 $ 0.51 $ 0.42 Diluted Net income allocated to common shareholders for basic earnings per share $ 1,138 $ 730 $ 2,956 $ 2,078 Weighted average shares outstanding for basic earnings per common share 7,212,603 5,002,950 5,771,627 4,943,783 Add: Dilutive effects of assumed exercises of stock options 56,913 35,281 38,183 35,281 Average shares and dilutive potential common shares 7,269,516 5,038,231 5,809,810 4,979,064 Diluted earnings per common share $ 0.16 $ 0.14 $ 0.51 $ 0.42 Stock options not considered in computing diluted earnings per share because they were anti-dilutive 298,181 790,095 707,397 790,095

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 6 — Fair Value Measurements Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values. Level 1 Level 2 Level 3 For available-for-sale securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements Using Quoted Prices In Significant Significant (Level 1) (Level 2) (Level 3) September 30, 2017 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 20,533 $ - CMO's - agency - $ 87,283 - Total $ - $ 107,816 $ - December 31, 2016 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 16,012 $ - CMO's - agency - 76,633 - Total $ - $ 92,645 $ - There were no transfers between Level 1 and Level 2 during the year. There were no assets measured on a non-recurring basis as of September 30, 2017 and December 31, 2016. Estimated Fair Value of Financial Instruments Fair value estimates are made at specific points in time and are based on existing on-and off-balance sheet financial instruments. Such estimates are generally subjective in nature and dependent upon a number of significant assumptions associated with each financial instrument or group of financial instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows, and relevant available market information. Changes in assumptions could significantly affect the estimates. In addition, fair value estimates do not reflect the value of anticipated future business, premiums or discounts that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, or the tax consequences of realizing gains or losses on the sale of financial instruments. The Company used the following method and assumptions in estimating the fair value of its financial instruments: Cash and Due from Banks and Interest Earning Deposits Securities Available-for-Sale Securities, Restricted Loans which would be discounted straight to their rate index plus or minus an appropriate spread. The method utilized to determine fair value does not represent exit price. Accrued Interest Receivable and Payable Deposits Secured Borrowings Off-Balance-Sheet Liabilities The following tables presents the carrying amounts and fair values of the Company’s financial instruments: Fair Value Measurement at September 30, 2017, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 771 $ 771 $ - $ - $ 771 Interest earning deposits 30,675 - 30,675 - 30,675 Securities available for sale 107,816 - 107,816 - 107,816 Securities, restricted 1,883 N/A N/A N/A N/A Loans, net of allowance 324,586 - - 325,264 325,264 Accrued interest receivable 2,197 - 260 1,937 2,197 Financial Liabilities: Certificates of deposit 27,422 - 27,373 - 27,373 Demand and other deposits 367,499 367,499 - - 367,499 Secured borrowings 280 - 280 - 280 Accrued interest payable 7 - 7 - 7 Fair Value Measurement at December 31, 2016, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 437 $ 437 $ - $ - $ 437 Interest earning deposits 42,556 - 42,556 - 42,556 Securities available for sale 92,645 - 92,645 - 92,645 Securities, restricted 1,649 N/A N/A N/A N/A Loans, net of allowance 275,165 - - 277,620 277,620 Accrued interest receivable 1,541 - 201 1,340 1,541 Financial Liabilities: Certificates of deposit 23,955 - 23,930 - 23,930 Demand and other deposits 346,833 346,833 - - 346,833 Secured borrowings 371 - 371 - 371 Accrued interest payable 3 - 3 - 3

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	9 Months Ended
	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Accumulated Other Comprehensive (Loss) Income	NOTE 7 — Accumulated Other Comprehensive (Loss) Income The following is changes in accumulated other comprehensive (loss) income by component, net of tax for the three and nine months ended September 30, 2017 and 2016: Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Unrealized Losses on Available for Sale Securities Beginning balance $ (508 ) $ 901 $ (884 ) $ (434 ) Other comprehensive income (loss) before reclassifications 4 (218 ) 380 1,121 Amounts reclassified from accumulated other comprehensive income - - - (4 ) Net current period other comprehensive income (loss) 4 (218 ) 380 1,117 Ending balance $ (504 ) $ 683 $ (504 ) $ 683 The following represents the reclassifications out of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2017, and 2016: Affected Line in the Three months ended Nine months ended Consolidated September 30, September 30, Statements of 2017 2016 2017 2016 Income Realized gain on securities sales $ - $ - $ - $ 6 Net gains on securities available for sale Income tax expense - - - (2 ) Income tax expense Total reclassifications, net of tax $ - $ - $ - $ 4

Accounting Policy (Policies)

Accounting Policy (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim consolidated financial statements include the accounts of Esquire Financial Holdings, Inc. and its wholly owned subsidiary, Esquire Bank, N.A. These entities are collectively referred to as “the Company.” All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial information. In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are recurring in nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the years ended December 31, 2016 and 2015. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or any other period.
Subsequent Events	Subsequent Events The Bank has evaluated subsequent events for recognition and disclosure through the date of issuance.
Secured Borrowing	Secured Borrowing The Company had a secured borrowing of $280 and $371 as of September 30, 2017 and December 31, 2016, respectively, relating to certain loan participations sold by the Company that did not qualify for sales treatment.
Preferred Stock	Preferred Stock In July of 2017, the Company and the preferred shareholder agreed to perform an exchange of 66,985 shares of 0.00% of Series B non-voting preferred shares for 66,985 voting common shares, par value $0.01. As of September 30, 2017 there are no preferred shares outstanding.
Loss Contingencies	Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are now such matters that will have a material effect on the consolidated financial statements.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606)” implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the (Financial Accounting Standards Board FASB) deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. Management has identified the revenue streams that are in scope, which includes merchants processing income and other categories of noninterest income. We are in process of establishing a control structure to manage the implementation of the ASU with respect to new revenue streams. We are in process of evaluating the impact of the ASU with respect to financial statement disclosures. We do not expect the ASU to have a significant impact on our operating results or financial condition. On January 5, 2016, the FASB issued ASU 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (the ASU). Under this ASU, the current GAAP model is changed in the areas of accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU will be effective for public business entities in beginning after December 15, 2017, including interim periods within those fiscal years. Adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. On February 25, 2016, the FASB completed its Leases project by issuing ASU No. 2017-02, “Leases (Topic 842).” The new guidance affects any organization that enters into a lease, or sublease, with some specified exemptions. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP, which requires only capital leases to be recognized on the balance sheet, the new ASU will require both types of leases to be recognized on the balance sheet. The ASU will also require expanded disclosures and will take effect for fiscal years beginning after December 15, 2018, and for interim periods within those fiscal years. The Company is currently evaluating the impact of the ASU on its financial condition and results of operations. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): “Improvements to Employee Share-Based Payment Accounting.” This update includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. For public companies, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Adoption of this standard in the first quarter of 2017 did not have a material effect on the Company’s operating results or financial condition. On June 16, 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (the ASU). This ASU replaces the incurred loss model with an expected loss model, referred to as “current expected credit loss” (CECL) model. It will significantly change estimates for credit losses related to financial assets measured at amortized cost, including loans receivable, held-to-maturity (HTM) debt securities and certain other contracts. This ASU will be effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently gathering data and building a roadmap for the implementation of the standard.

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses and estimated fair value of securities available-for-sale	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2017 Mortgage-backed securities - agency $ 20,747 $ 19 $ (233 ) $ 20,533 Collateralized mortgage obligations (CMO's) - agency 87,895 176 (788 ) 87,283 Total available-for-sale $ 108,642 $ 195 $ (1,021 ) $ 107,816 December 31, 2016 Mortgage-backed securities - agency $ 16,417 $ 12 $ (417 ) $ 16,012 Collateralized mortgage obligations (CMO's) - agency 77,677 56 (1,100 ) 76,633 Total available-for-sale $ 94,094 $ 68 $ (1,517 ) $ 92,645
Schedule of amortized cost and fair value of debt securities by contractual maturity	September 30, 2017 Amortized Cost Fair Value Mortgage-backed securities - agency $ 20,747 $ 20,533 CMO's - agency 87,895 87,283 Total $ 108,642 $ 107,816
Schedule of proceeds from sales and calls of securities and the associated gains and losses	For the three months ended, For the nine months ended, September 30, September 30, 2017 2016 2017 2016 Proceeds $ - $ - $ - $ 4,068 Gross gains - - - 6 Gross losses - - - -
Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position	Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses September 30, 2017 Mortgage-backed securities - agency $ 17,236 $ (217 ) $ 1,487 $ (16 ) $ 18,723 $ (233 ) CMO's - Agency 46,173 (615 ) 9,108 (173 ) 55,281 (788 ) Total temporarily impaired securities $ 63,409 $ (832 ) $ 10,595 $ (189 ) $ 74,004 $ (1,021 ) December 31, 2016 Mortgage-backed securities - agency $ 13,936 $ (417 ) $ - $ - $ 13,936 $ (417 ) CMO's - Agency 50,269 (859 ) 5,973 (241 ) 56,242 (1,100 ) Total temporarily impaired securities $ 64,205 $ (1,276 ) $ 5,973 $ (241 ) $ 70,178 $ (1,517 )

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Schedule of composition of loans	September 30, 2017 % of December 31, 2016 % of 1-4 family residential $ 51,625 16 % $ 49,597 18 % Commercial 125,581 38 % 106,064 38 % Multifamily 93,246 29 % 83,410 30 % Commercial real estate 22,500 7 % 22,198 8 % Construction 4,480 1 % 5,610 2 % Consumer 30,047 9 % 10,571 4 % Total Loans 327,479 100 % 277,450 100 % Deferred costs and unearned premiums, net 1,191 1,128 Allowance for loan losses (4,084 ) (3,413 ) Net loans $ 324,586 $ 275,165
Schedule of activity in allowance for loan losses	The following tables present the activity in the allowance for loan losses by class for the three months ending September 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total September 30, 2017 Allowance for loan losses: Beginning balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 Provision for loan losses 25 71 13 14 3 149 275 Recoveries - - - - - - - Loans charged-off - (14 ) - - - - (14 ) Total ending allowance balance $ 383 $ 2,211 $ 677 $ 240 $ 112 $ 461 $ 4,084 September 30, 2016 Allowance for loan losses: Beginning balance $ 319 $ 1,735 $ 552 $ 218 $ 164 $ 112 $ 3,100 Provision (credit) for loan losses 35 122 93 (52 ) (23 ) 5 180 Recoveries - - - - - - - Loans charged-off - - - - - (7 ) (7 ) Total ending allowance balance $ 354 $ 1,857 $ 645 $ 166 $ 141 $ 110 $ 3,273 The following tables present the activity in the allowance for loan losses by class for the nine months ending September 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total September 30, 2017 Allowance for loan losses: Beginning balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Provision (credit) for loan losses 23 291 56 2 (29 ) 382 725 Recoveries - - - - - - - Loans charged-off - (14 ) - - - (40 ) (54 ) Total ending allowance balance $ 383 $ 2,211 $ 677 $ 240 $ 112 $ 461 $ 4,084 September 30, 2016 Allowance for loan losses: Beginning balance $ 213 $ 1,536 $ 533 $ 230 $ 134 $ 153 $ 2,799 Provision (credit) for loan losses 141 295 112 (64 ) 7 (36 ) 455 Recoveries - 26 - - - - 26 Loans charged-off - - - - - (7 ) (7 ) Total ending allowance balance $ 354 $ 1,857 $ 645 $ 166 $ 141 $ 110 $ 3,273 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by class and based on impairment method as of September 30, 2017 and December 31, 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total September 30, 2017 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 383 2,211 677 240 112 461 4,084 Total ending allowance balance $ 383 $ 2,211 $ 677 $ 240 $ 112 $ 461 $ 4,084 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 51,625 125,581 93,246 22,500 4,480 30,047 327,479 Total ending loans balance $ 51,625 $ 125,581 $ 93,246 $ 22,500 $ 4,480 $ 30,047 $ 327,479 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total December 31, 2016 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 360 1,934 621 238 141 119 3,413 Total ending allowance balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 49,597 106,064 83,410 22,198 5,610 10,571 277,450 Total ending loans balance $ 49,597 $ 106,064 $ 83,410 $ 22,198 $ 5,610 $ 10,571 $ 277,450
Schedule of aging of recorded investment in past due loans	30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Loans Not Past Due Total September 30, 2017 1-4 family residential $ - $ - $ - $ - $ 51,625 $ 51,625 Commercial - - - - 125,581 125,581 Multifamily - - - - 93,246 93,246 Commercial real estate - - - - 22,500 22,500 Construction - - - - 4,480 4,480 Consumer - - - - 30,047 30,047 Total $ - $ - $ - $ - $ 327,479 $ 327,479 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Loans Not Past Due Total December 31, 2016 1-4 family residential $ 203 $ - $ - $ 203 $ 49,394 $ 49,597 Commercial - - - - 106,064 106,064 Multifamily - - - - 83,410 83,410 Commercial real estate - - - - 22,198 22,198 Construction - - - - 5,610 5,610 Consumer - - - - 10,571 10,571 Total $ 203 $ - $ - $ 203 $ 277,247 $ 277,450
Schedule of risk category of loans	Pass Special Mention Substandard Doubtful September 30, 2017 1-4 family residential $ 51,625 $ - $ - $ - Commercial 117,931 7,650 - - Multifamily 93,246 - - - Commercial real estate 22,500 - - - Construction 4,480 - - - Consumer 30,047 - - - Total $ 319,829 $ 7,650 $ - $ - Pass Special Mention Substandard Doubtful December 31, 2016 1-4 family residential $ 49,597 $ - $ - $ - Commercial 105,777 287 - - Multifamily 83,410 - - - Commercial real estate 22,198 - - - Construction 5,610 - - - Consumer 10,571 - - - Total $ 277,163 $ 287 $ - $ -

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of fair value of options granted determined using following weighted-average assumptions	Three months ended Nine months ended September 30, 2016 September 30, 2016 Risk-Free Interest Rate 1.43 % 1.44 % Expected Term 84 months 84 months Expected Stock Price Volatility 24.1 % 24.1 % Dividend Yield 0.0 % 0.0 % Weighted Average Fair Value $ 3.61 $ 3.61
Schedule of activity related to options	Weighted Weighted Average Average Remaining Exercise Contractual Options Price Life (Years) September 30, 2017 Outstanding at beginning of year 1,024,045 $ 12.13 Granted - - Exercised (132,120 ) 10.61 Forfeited (11,000 ) 11.36 Outstanding at period end 880,925 $ 12.36 7.40 Vested or expected to vest 880,925 $ 12.36 7.40 Exercisable at period end 352,480 $ 12.16 5.91

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings per Share
Schedule of earnings per share	Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Basic Net income available to common shareholders $ 1,141 $ 740 $ 2,983 $ 2,131 Less: Earnings allocated to preferred stock 3 10 27 53 Net income allocated to common shareholders $ 1,138 $ 730 $ 2,956 $ 2,078 Weighted average common shares outstanding 7,212,603 5,002,950 5,771,627 4,943,783 Basic earnings per common share $ 0.16 $ 0.15 $ 0.51 $ 0.42 Diluted Net income allocated to common shareholders for basic earnings per share $ 1,138 $ 730 $ 2,956 $ 2,078 Weighted average shares outstanding for basic earnings per common share 7,212,603 5,002,950 5,771,627 4,943,783 Add: Dilutive effects of assumed exercises of stock options 56,913 35,281 38,183 35,281 Average shares and dilutive potential common shares 7,269,516 5,038,231 5,809,810 4,979,064 Diluted earnings per common share $ 0.16 $ 0.14 $ 0.51 $ 0.42 Stock options not considered in computing diluted earnings per share because they were anti-dilutive 298,181 790,095 707,397 790,095

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements Using Quoted Prices In Significant Significant (Level 1) (Level 2) (Level 3) September 30, 2017 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 20,533 $ - CMO's - agency - $ 87,283 - Total $ - $ 107,816 $ - December 31, 2016 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 16,012 $ - CMO's - agency - 76,633 - Total $ - $ 92,645 $ -
Schedule of carrying amounts and fair values of financial instruments	Fair Value Measurement at September 30, 2017, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 771 $ 771 $ - $ - $ 771 Interest earning deposits 30,675 - 30,675 - 30,675 Securities available for sale 107,816 - 107,816 - 107,816 Securities, restricted 1,883 N/A N/A N/A N/A Loans, net of allowance 324,586 - - 325,264 325,264 Accrued interest receivable 2,197 - 260 1,937 2,197 Financial Liabilities: Certificates of deposit 27,422 - 27,373 - 27,373 Demand and other deposits 367,499 367,499 - - 367,499 Secured borrowings 280 - 280 - 280 Accrued interest payable 7 - 7 - 7 Fair Value Measurement at December 31, 2016, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 437 $ 437 $ - $ - $ 437 Interest earning deposits 42,556 - 42,556 - 42,556 Securities available for sale 92,645 - 92,645 - 92,645 Securities, restricted 1,649 N/A N/A N/A N/A Loans, net of allowance 275,165 - - 277,620 277,620 Accrued interest receivable 1,541 - 201 1,340 1,541 Financial Liabilities: Certificates of deposit 23,955 - 23,930 - 23,930 Demand and other deposits 346,833 346,833 - - 346,833 Secured borrowings 371 - 371 - 371 Accrued interest payable 3 - 3 - 3

Accumulated Other Comprehensi21

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Schedule of changes in accumulated other comprehensive (loss) income by component, net of tax	Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Unrealized Losses on Available for Sale Securities Beginning balance $ (508 ) $ 901 $ (884 ) $ (434 ) Other comprehensive income (loss) before reclassifications 4 (218 ) 380 1,121 Amounts reclassified from accumulated other comprehensive income - - - (4 ) Net current period other comprehensive income (loss) 4 (218 ) 380 1,117 Ending balance $ (504 ) $ 683 $ (504 ) $ 683
Schedule of reclassifications out of accumulated other comprehensive loss	Affected Line in the Three months ended Nine months ended Consolidated September 30, September 30, Statements of 2017 2016 2017 2016 Income Realized gain on securities sales $ - $ - $ - $ 6 Net gains on securities available for sale Income tax expense - - - (2 ) Income tax expense Total reclassifications, net of tax $ - $ - $ - $ 4

Basis of Presentation (Details

Basis of Presentation (Details Textuals) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Basis Of Presentation [Line Items]
Secured borrowings	$ 280	$ 371
Preferred stock, shares outstanding (non-voting)	0	66,985
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock
Basis Of Presentation [Line Items]
Dividend rate of non-voting preferred stock	0.00%
Preferred stock, shares outstanding (non-voting)	0
Number of B Non-Voting preferred shares converted for voting common shares	(66,985)

Securities (Details) - Summary

Securities (Details) - Summary of reconciliation of amortized cost to fair value - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 108,642	$ 94,094
Gross Unrealized Gains	195	68
Gross Unrealized Losses	(1,021)	(1,517)
Fair Value	107,816	92,645
Mortgage-backed securities - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	20,747	16,417
Gross Unrealized Gains	19	12
Gross Unrealized Losses	(233)	(417)
Fair Value	20,533	16,012
Collateralized mortgage obligations (CMO's) - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	87,895	77,677
Gross Unrealized Gains	176	56
Gross Unrealized Losses	(788)	(1,100)
Fair Value	$ 87,283	$ 76,633

Securities (Details 1) - Summar

Securities (Details 1) - Summary of amortized cost and fair value of debt securities by contractual maturity $ in Thousands	Sep. 30, 2017USD ($)
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 108,642
Fair Value	107,816
Mortgage-backed securities - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	20,747
Fair Value	20,533
CMO's - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	87,895
Fair Value	$ 87,283

Securities (Details 2) - Summar

Securities (Details 2) - Summary of proceeds from sales and calls of securities and gains and losses - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 0	$ 0	$ 0	$ 4,068
Gross gains	0	0	0	6
Gross losses	$ 0	$ 0	$ 0	$ 0

Securities (Details 3) - Summar

Securities (Details 3) - Summary of securities in unrealized loss position - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value
Less Than 12 Months	$ 63,409	$ 64,205
12 Months or Longer	10,595	5,973
Total	74,004	70,178
Gross Unrealized Losses
Less Than 12 Months	(832)	(1,276)
12 Months or Longer	(189)	(241)
Total	(1,021)	(1,517)
Mortgage-backed securities - agency
Fair Value
Less Than 12 Months	17,236	13,936
12 Months or Longer	1,487	0
Total	18,723	13,936
Gross Unrealized Losses
Less Than 12 Months	(217)	(417)
12 Months or Longer	(16)	0
Total	(233)	(417)
CMO's - agency
Fair Value
Less Than 12 Months	46,173	50,269
12 Months or Longer	9,108	5,973
Total	55,281	56,242
Gross Unrealized Losses
Less Than 12 Months	(615)	(859)
12 Months or Longer	(173)	(241)
Total	$ (788)	$ (1,100)

Securities (Detail Textuals)

Securities (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Tax provision related to realized gain	$ 0	$ 0	$ 2	$ 2
Federal Reserve Bank of New York (FRB)
Schedule of Available-for-sale Securities [Line Items]
Fair value of pledged securities	20,533		20,533		$ 16,012
Securities pledged borrowed amount	20,151		20,151		15,580
Federal Home Loan Bank of New York (FHLB)
Schedule of Available-for-sale Securities [Line Items]
Fair value of pledged securities	87,283		87,283		76,633
Securities pledged borrowed amount	$ 82,978		$ 82,978		$ 72,837

Loans - Summary of loan composi

Loans - Summary of loan composition (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 327,479		$ 277,450
Deferred costs and unearned premiums, net	1,191		1,128
Allowance for loan losses	(4,084)	$ (3,823)	(3,413)	$ (3,273)	$ (3,100)	$ (2,799)
Net loans	$ 324,586		$ 275,165
% of Total	100.00%		100.00%
Real Estate | 1 - 4 Family Residential
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 51,625		$ 49,597
Allowance for loan losses	$ (383)	(358)	$ (360)	(354)	(319)	(213)
% of Total	16.00%		18.00%
Real Estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 93,246		$ 83,410
Allowance for loan losses	$ (677)	(664)	$ (621)	(645)	(552)	(533)
% of Total	29.00%		30.00%
Real Estate | Commercial Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 22,500		$ 22,198
Allowance for loan losses	$ (240)	(226)	$ (238)	(166)	(218)	(230)
% of Total	7.00%		8.00%
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 4,480		$ 5,610
Allowance for loan losses	$ (112)	(109)	$ (141)	(141)	(164)	(134)
% of Total	1.00%		2.00%
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 125,581		$ 106,064
Allowance for loan losses	$ (2,211)	(2,154)	$ (1,934)	(1,857)	(1,735)	(1,536)
% of Total	38.00%		38.00%
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 30,047		$ 10,571
Allowance for loan losses	$ (461)	$ (312)	$ (119)	$ (110)	$ (112)	$ (153)
% of Total	9.00%		4.00%

Loans - Summary of activity in

Loans - Summary of activity in allowance for loan losses by class (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Allowance for loan losses:
Beginning balance	$ 3,823	$ 3,100	$ 3,413	$ 2,799
Provision (credit) for loan losses	275	180	725	455
Recoveries	0	0	0	26
Loans charged-off	(14)	(7)	(54)	(7)
Total ending allowance balance	4,084	3,273	4,084	3,273
Real Estate | 1 - 4 Family Residential
Allowance for loan losses:
Beginning balance	358	319	360	213
Provision (credit) for loan losses	25	35	23	141
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	383	354	383	354
Real Estate | Multifamily
Allowance for loan losses:
Beginning balance	664	552	621	533
Provision (credit) for loan losses	13	93	56	112
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	677	645	677	645
Real Estate | Commercial Real Estate
Allowance for loan losses:
Beginning balance	226	218	238	230
Provision (credit) for loan losses	14	(52)	2	(64)
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	240	166	240	166
Real Estate | Construction
Allowance for loan losses:
Beginning balance	109	164	141	134
Provision (credit) for loan losses	3	(23)	(29)	7
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	112	141	112	141
Commercial
Allowance for loan losses:
Beginning balance	2,154	1,735	1,934	1,536
Provision (credit) for loan losses	71	122	291	295
Recoveries	0	0	0	26
Loans charged-off	(14)	0	(14)	0
Total ending allowance balance	2,211	1,857	2,211	1,857
Consumer
Allowance for loan losses:
Beginning balance	312	112	119	153
Provision (credit) for loan losses	149	5	382	(36)
Recoveries	0	0	0	0
Loans charged-off	0	(7)	(40)	(7)
Total ending allowance balance	$ 461	$ 110	$ 461	$ 110

Loans - Summary of balance in a

Loans - Summary of balance in allowance for loan losses and recorded investment in loans by class and based on impairment method (Details 2) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$ 0		$ 0
Collectively evaluated for impairment	4,084		3,413
Total ending allowance balance	4,084	$ 3,823	3,413	$ 3,273	$ 3,100	$ 2,799
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	327,479		277,450
Total ending loans balance	327,479		277,450
Real Estate | 1 - 4 Family Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	383		360
Total ending allowance balance	383	358	360	354	319	213
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	51,625		49,597
Total ending loans balance	51,625		49,597
Real Estate | Multifamily
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	677		621
Total ending allowance balance	677	664	621	645	552	533
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	93,246		83,410
Total ending loans balance	93,246		83,410
Real Estate | Commercial Real Estate
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	240		238
Total ending allowance balance	240	226	238	166	218	230
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	22,500		22,198
Total ending loans balance	22,500		22,198
Real Estate | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	112		141
Total ending allowance balance	112	109	141	141	164	134
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	4,480		5,610
Total ending loans balance	4,480		5,610
Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	2,211		1,934
Total ending allowance balance	2,211	2,154	1,934	1,857	1,735	1,536
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	125,581		106,064
Total ending loans balance	125,581		106,064
Consumer
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	461		119
Total ending allowance balance	461	$ 312	119	$ 110	$ 112	$ 153
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	30,047		10,571
Total ending loans balance	$ 30,047		$ 10,571

Loans - Summary of loans by pas

Loans - Summary of loans by past due status (Details 3) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 203
Loans Not Past Due	327,479	277,247
Total Loans	327,479	277,450
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	203
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	203
Loans Not Past Due	51,625	49,394
Total Loans	51,625	49,597
Real Estate | 1 - 4 Family Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	203
Real Estate | 1 - 4 Family Residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | 1 - 4 Family Residential | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	93,246	83,410
Total Loans	93,246	83,410
Real Estate | Multifamily | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Multifamily | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Multifamily | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	22,500	22,198
Total Loans	22,500	22,198
Real Estate | Commercial Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Commercial Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Commercial Real Estate | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	4,480	5,610
Total Loans	4,480	5,610
Real Estate | Construction | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Construction | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Construction | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	125,581	106,064
Total Loans	125,581	106,064
Commercial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	30,047	10,571
Total Loans	30,047	10,571
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

Loans - Summary of loans by cre

Loans - Summary of loans by credit quality indicator based on internally assigned credit grade (Details 4) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 327,479	$ 277,450
Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	319,829	277,163
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	7,650	287
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total Loans	51,625	49,597
Real Estate | 1 - 4 Family Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	51,625	49,597
Real Estate | 1 - 4 Family Residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | 1 - 4 Family Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | 1 - 4 Family Residential | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total Loans	93,246	83,410
Real Estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	93,246	83,410
Real Estate | Multifamily | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Multifamily | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Multifamily | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	22,500	22,198
Real Estate | Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	22,500	22,198
Real Estate | Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,480	5,610
Real Estate | Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,480	5,610
Real Estate | Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Real Estate | Construction | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	125,581	106,064
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	117,931	105,777
Commercial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	7,650	287
Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	30,047	10,571
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	30,047	10,571
Consumer | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 0	$ 0

Share-Based Payment Plans (Deta

Share-Based Payment Plans (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-Free Interest Rate	1.43%	1.44%
Expected Term	84 months	84 months
Expected Stock Price Volatility	24.10%	24.10%
Dividend Yield	0.00%	0.00%
Weighted Average Fair Value	$ 3.61	$ 3.61

Share-Based Payment Plans - Sum

Share-Based Payment Plans - Summary of options activity (Details 1) - Stock Options	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Options
Outstanding at beginning of year | shares	1,024,045
Granted | shares	0
Exercised | shares	(132,120)
Forfeited | shares	(11,000)
Outstanding at period end | shares	880,925
Vested or expected to vest | shares	880,925
Exercisable at period end | shares	352,480
Weighted Average Exercise Price
Outstanding at beginning of year | $ / shares	$ 12.13
Granted | $ / shares	0
Exercised | $ / shares	10.61
Forfeited | $ / shares	11.36
Outstanding at period end | $ / shares	12.36
Vested or expected to vest | $ / shares	12.36
Exercisable at period end | $ / shares	$ 12.16
Weighted Average Remaining Contractual Life (Years), outstanding at period end	7 years 4 months 24 days
Weighted Average Remaining Contractual Life (Years), vested or expected to vest	7 years 4 months 24 days
Weighted Average Remaining Contractual Life (Years), exercisable at period end	5 years 10 months 28 days

Share-Based Payment Plans (De35

Share-Based Payment Plans (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of vesting period for options			five annual installments
Vesting percentage of options			20.00%
Contractual term of stock options			10 years
Stock options expense	$ 133	$ 97	$ 421	$ 249
Unrecognized compensation cost related to non-vested options	1,749		$ 1,749
Recognition period of nonvested stock options			3 years 4 months 10 days
Intrinsic value of outstanding options	3,151		$ 3,151
Intrinsic value of exercisable options	$ 1,296		$ 1,296
2011 Stock Compensation Plan ("the 2011 Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of maximum shares of common stock to be issued	754,607		754,607
Number of stock options issued			750,545
2007 Stock Option Plan ("the 2007 Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of maximum shares of common stock to be issued	270,000		270,000

Earnings per Share - Summary of

Earnings per Share - Summary of earnings per share computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Basic
Net income available to common shareholders	$ 1,141	$ 740	$ 2,983	$ 2,131
Less: Earnings allocated to preferred stock	3	10	27	53
Net income allocated to common shareholders	$ 1,138	$ 730	$ 2,956	$ 2,078
Weighted average common shares outstanding	7,212,603	5,002,950	5,771,627	4,943,783
Basic earnings per common share	$ 0.16	$ 0.15	$ 0.51	$ 0.42
Diluted
Net income allocated to common shareholders for basic earnings per share	$ 1,138	$ 730	$ 2,956	$ 2,078
Weighted average shares outstanding for basic earnings per common share	7,212,603	5,002,950	5,771,627	4,943,783
Add: Dilutive effects of assumed exercises of stock options	56,913	35,281	38,183	35,281
Average shares and dilutive potential common shares	7,269,516	5,038,231	5,809,810	4,979,064
Diluted earnings per common share	$ 0.16	$ 0.14	$ 0.51	$ 0.42
Stock options not considered in computing diluted earnings per share because they were anti-dilutive	298,181	790,095	707,397	790,095

Fair Value Measurements - Summa

Fair Value Measurements - Summary of assets and liabilities measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Available-for-sale securities
Securities available-for-sale, at fair value	$ 107,816	$ 92,645
Fair Value
Available-for-sale securities
Securities available-for-sale, at fair value	107,816	92,645
Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Fair Value | Significant Other Observable Inputs (Level 2)
Available-for-sale securities
Securities available-for-sale, at fair value	107,816	92,645
Fair Value | Significant Unobservable Inputs (Level 3)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | Fair Value | Significant Other Observable Inputs (Level 2)
Available-for-sale securities
Securities available-for-sale, at fair value	107,816	92,645
Recurring | Fair Value | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	20,533	16,012
Recurring | Fair Value | Significant Other Observable Inputs (Level 2) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	87,283	76,633
Recurring | Fair Value | Significant Unobservable Inputs (Level 3)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | Fair Value | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | Fair Value | Significant Unobservable Inputs (Level 3) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	$ 0	$ 0

Fair Value Measurements - Sum38

Fair Value Measurements - Summary of estimated fair values of financial instruments (Details 1) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financial Assets:
Cash and due from banks	$ 771	$ 437
Interest earning deposits	30,675	42,556
Securities available for sale	107,816	92,645
Securities, restricted	1,883	1,649
Loans, net of allowance	324,586	275,165
Accrued interest receivable	2,197	1,541
Financial Liabilities:
Certificates of deposit	394,921	370,788
Secured borrowings	280	371
Carrying Value
Financial Assets:
Cash and due from banks	771	437
Interest earning deposits	30,675	42,556
Securities available for sale	107,816	92,645
Securities, restricted	1,883	1,649
Loans, net of allowance	324,586	275,165
Accrued interest receivable	2,197	1,541
Financial Liabilities:
Certificates of deposit	27,422	23,955
Demand and other deposits	367,499	346,833
Secured borrowings	280	371
Accrued interest payable	7	3
Fair Value
Financial Assets:
Cash and due from banks	771	437
Interest earning deposits	30,675	42,556
Securities available for sale	107,816	92,645
Loans, net of allowance	325,264	277,620
Accrued interest receivable	2,197	1,541
Financial Liabilities:
Certificates of deposit	27,373	23,930
Demand and other deposits	367,499	346,833
Secured borrowings	280	371
Accrued interest payable	7	3
Fair Value | (Level 1)
Financial Assets:
Cash and due from banks	771	437
Interest earning deposits	0	0
Securities available for sale	0	0
Loans, net of allowance	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Certificates of deposit	0	0
Demand and other deposits	367,499	346,833
Secured borrowings	0	0
Accrued interest payable	0	0
Fair Value | (Level 2)
Financial Assets:
Cash and due from banks	0	0
Interest earning deposits	30,675	42,556
Securities available for sale	107,816	92,645
Loans, net of allowance	0	0
Accrued interest receivable	260	201
Financial Liabilities:
Certificates of deposit	27,373	23,930
Demand and other deposits	0	0
Secured borrowings	280	371
Accrued interest payable	7	3
Fair Value | (Level 3)
Financial Assets:
Cash and due from banks	0	0
Interest earning deposits	0	0
Securities available for sale	0	0
Loans, net of allowance	325,264	277,620
Accrued interest receivable	1,937	1,340
Financial Liabilities:
Certificates of deposit	0	0
Demand and other deposits	0	0
Secured borrowings	0	0
Accrued interest payable	$ 0	$ 0

Accumulated Other Comprehensi39

Accumulated Other Comprehensive (Loss) Income - Summary of changes in accumulated other comprehensive (loss) income by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Unrealized Gains on Available for Sale Securities
Beginning balance	$ (508)	$ 901	$ (884)	$ (434)
Other comprehensive income (loss) before reclassifications	4	(218)	380	1,121
Amounts reclassified from accumulated other comprehensive income	0	0	0	(4)
Net current period other comprehensive income	4	(218)	380	1,117
Ending balance	$ (504)	$ 683	$ (504)	$ 683

Accumulated Other Comprehensi40

Accumulated Other Comprehensive (Loss) Income - Summary of reclassifications out of accumulated other comprehensive loss (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Realized gain on securities sales	$ 0	$ 0	$ 0	$ 6
Income tax expense	0	0	(2)	(2)
Total reclassifications, net of tax	$ 0	$ 0	$ 0	$ 4