Esquire Financial (ESQ) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 01, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Entity File Number	001-38131
Entity Registrant Name	Esquire Financial Holdings, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-5107901
Entity Address, Address Line One	100 Jericho Quadrangle, Suite 100,
Entity Address, City or Town	Jericho
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11753
City Area Code	516
Local Phone Number	535-2002
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ESQ
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,662,840
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001531031
Amendment Flag	false
Entity Ex Transition Period	true

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 110,593	$ 61,806
Securities available-for-sale, at fair value	110,421	146,419
Securities, restricted, at cost	2,694	2,665
Loans	635,667	565,369
Less: allowance for loan losses	(11,557)	(6,989)
Loans, net	624,110	558,380
Premises and equipment, net	2,857	2,835
Accrued interest receivable	4,339	3,242
Other assets	25,885	22,661
Total assets	880,899	798,008
Deposits:
Demand	321,343	201,837
Savings, NOW and money market	419,859	459,037
Time	4,308	19,746
Total deposits	745,510	680,620
Secured borrowings	84	86
Accrued expenses and other liabilities	13,359	6,240
Total liabilities	758,953	686,946
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.01; authorized 2,000,000 shares; no shares issued and outstanding at September 30, 2020 and December 31, 2019
Common stock, par value $0.01; authorized 15,000,000 shares; 7,697,146 and 7,652,170 shares issued, respectively; and 7,662,840 and 7,652,170 shares outstanding, respectively	77	77
Additional paid-in capital	91,130	89,682
Retained earnings	29,653	20,917
Accumulated other comprehensive income	1,653	386
Treasury stock at cost, 34,306 and 0 shares, respectively	(567)
Total stockholders' equity	121,946	111,062
Total liabilities and stockholders' equity	$ 880,899	$ 798,008

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
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	0	0
Preferred stock, shares outstanding	0	0
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	7,697,146	7,652,170
Common stock, shares outstanding	7,662,840	7,652,170
Treasury stock, shares	34,306	0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Loans	$ 8,936	$ 8,312	$ 26,055	$ 23,524
Securities	494	950	2,132	3,073
Interest earning deposits and other	66	236	348	706
Total interest income	9,496	9,498	28,535	27,303
Interest expense:
Savings, NOW and money market deposits	203	625	697	1,665
Time deposits	85	125	277	375
Borrowings	1	1	4	4
Total interest expense	289	751	978	2,044
Net interest income	9,207	8,747	27,557	25,259
Provision for loan losses	900	425	4,700	1,250
Net interest income after provision for loan losses	8,307	8,322	22,857	24,009
Noninterest income:
Total noninterest income	3,884	3,475	9,959	8,647
Noninterest expense:
Employee compensation and benefits	4,372	3,817	12,448	10,841
Occupancy and equipment	615	517	1,735	1,399
Professional and consulting services	845	816	2,382	2,146
FDIC and regulatory assessments	95	40	280	211
Advertising and marketing	171	174	289	464
Travel and business relations	33	136	173	372
Data processing	772	638	2,272	1,857
Other operating expenses	382	466	1,351	1,303
Total noninterest expense	7,285	6,604	20,930	18,593
Net income before income taxes	4,906	5,193	11,886	14,063
Income tax expense	1,300	1,376	3,150	3,793
Net income	$ 3,606	$ 3,817	$ 8,736	$ 10,270
Earnings per share
Basic (in dollars per share)	$ 0.49	$ 0.52	$ 1.18	$ 1.39
Diluted (in dollars per share)	$ 0.48	$ 0.49	$ 1.14	$ 1.32
Merchant processing income
Noninterest income:
Noninterest income	$ 3,721	$ 3,284	$ 9,527	$ 7,994
Customer related fees and service charges
Noninterest income:
Noninterest income	$ 163	$ 191	$ 432	$ 653

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income
Net income	$ 3,606	$ 3,817	$ 8,736	$ 10,270
Other comprehensive income:
Unrealized gains arising during the period on securities available-for-sale	(343)	650	1,772	4,138
Tax effect	97	(184)	(505)	(1,138)
Total other comprehensive (loss) income	(246)	466	1,267	3,000
Total comprehensive income	$ 3,360	$ 4,283	$ 10,003	$ 13,270

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income	Treasury stock	Total
Balance at Dec. 31, 2018	$ 75	$ 88,539	$ 6,774	$ (2,614)		$ 92,774
Balance (in shares) at Dec. 31, 2018	7,532,723
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			10,270			10,270
Other comprehensive income				3,000		3,000
Exercise of stock options, net of repurchases		50				50
Exercise of stock options, net of repurchases (in shares)	8,947
Stock compensation expense		809				809
Balance at Sep. 30, 2019	$ 75	89,398	17,044	386		106,903
Balance (in shares) at Sep. 30, 2019	7,541,670
Balance at Jun. 30, 2019	$ 75	89,129	13,227	(80)		102,351
Balance (in shares) at Jun. 30, 2019	7,536,723
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			3,817			3,817
Other comprehensive income				466		466
Exercise of stock options, net of repurchases (in shares)	4,947
Stock compensation expense		269				269
Balance at Sep. 30, 2019	$ 75	89,398	17,044	386		106,903
Balance (in shares) at Sep. 30, 2019	7,541,670
Balance at Dec. 31, 2019	$ 77	89,682	20,917	386		111,062
Balance (in shares) at Dec. 31, 2019	7,652,170
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			8,736			8,736
Other comprehensive income				1,267		1,267
Exercise of stock options, net of repurchases		290				290
Exercise of stock options, net of repurchases (in shares)	44,976
Stock compensation expense		1,158				1,158
Purchase of common stock					$ (567)	(567)
Purchase of common stock (in shares)	(34,306)
Balance at Sep. 30, 2020	$ 77	91,130	29,653	1,653	(567)	121,946
Balance (in shares) at Sep. 30, 2020	7,662,840
Balance at Jun. 30, 2020	$ 77	90,747	26,047	1,899	(567)	118,203
Balance (in shares) at Jun. 30, 2020	7,662,840
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			3,606			3,606
Other comprehensive income				(246)		(246)
Stock compensation expense		383				383
Balance at Sep. 30, 2020	$ 77	$ 91,130	$ 29,653	$ 1,653	$ (567)	$ 121,946
Balance (in shares) at Sep. 30, 2020	7,662,840

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical)	9 Months Ended
	Sep. 30, 2020shares
Statement of Stockholders' Equity [Abstract]
Repurchase of shares	(20,224)

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 8,736	$ 10,270
Adjustments to reconcile net income to net cash used in operating activities:
Provision for loan losses	4,700	1,250
Depreciation	424	368
Stock compensation expense	1,158	809
Net amortization (accretion):
Securities	742	359
Loans	(279)	284
Right of use asset	343	272
Software	420	269
Changes in other assets and liabilities:
Accrued interest receivable	(1,097)	696
Other assets	(1,428)	(4,560)
Operating lease liability	(352)	(213)
Accrued expenses and other liabilities	3,510	2,778
Net cash provided by operating activities	16,877	12,582
Cash flows from investing activities:
Net change in loans	(71,266)	(66,270)
Purchases of securities available-for-sale	(6,200)	(9,918)
Principal repayments on securities available-for-sale	46,565	20,230
Purchase of securities, restricted	(29)	(82)
Purchases of premises and equipment	(446)	(546)
Development of capitalized software	(1,325)	(1,020)
Net cash used in investing activities	(32,701)	(57,606)
Cash flows from financing activities:
Net increase in deposits	64,890	76,090
Decrease in secured borrowings	(2)	(2)
Exercise of stock options	290	50
Purchase of common stock	(567)
Net cash provided by financing activities	64,611	76,138
Increase in cash and cash equivalents	48,787	31,114
Cash and cash equivalents at beginning of the period	61,806	30,562
Cash and cash equivalents at end of the period	110,593	61,676
Cash paid during the period for:
Interest	990	2,048
Taxes	4,330	3,016
Noncash transactions:
Right of use asset obtained in exchange for lease liability	624	$ 3,640
Securities purchased but not yet settled	$ 3,337

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Summary of Significant Accounting Policies	NOTE 1 — Basis of Presentation and Summary of Significant Accounting Policies 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, 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, 2019 and 2018. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or any other period. Certain balances in the prior year financial statements were reclassified to conform to current presentation. The reclassifications had no effect on prior year net income or stockholders’ equity. Risks and Uncertainties On March 11, 2020, the World Health Organization declared COVID-19, the disease caused by the novel coronavirus, a pandemic as a result of the global spread of the coronavirus illness. In response to the outbreak, federal and state authorities in the U.S. introduced various measures to try to limit or slow the spread of the virus, including travel restrictions, nonessential business closures, stay-at-home orders, and strict social distancing. The full impact of COVID-19 is unknown and rapidly evolving. We have implemented a customer payment deferral program (principal and interest) to assist business borrowers and certain consumers that may be experiencing financial hardship due to COVID-19 related challenges. These loans will continue to accrue interest during the deferral period unless otherwise classified as nonperforming. Consistent with regulatory guidance and the provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), borrowers that were otherwise current on loan payments that were granted COVID-19 related financial hardship payment deferrals will continue to be reported as current loans during the deferral period and not evaluated as to whether they are troubled debt restructurings (“TDR”). There were no delinquent loans upon adoption of our payment deferral program. The following table provides the principal balance of payment deferral program loans where there has been a sixty six ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ November 6, 2020 ​ (Dollars in thousands) ​ Number of ​ ​ Loan ​ Number of ​ ​ Loan ​ Borrowers ​ ​ Balance ​ Borrowers ​ ​ Balance 1 – 4 family 3 ​ $ 14,149 ​ 1 ​ $ 3,015 Commercial 1 ​ ​ 2,954 ​ 1 ​ ​ 2,954 Multifamily 4 ​ ​ 6,988 ​ 1 ​ ​ 3,751 Commercial real estate 2 ​ ​ 9,309 ​ 2 ​ ​ 1,759 Construction — ​ ​ — ​ — ​ ​ — Consumer 9 ​ ​ 34 ​ 8 ​ ​ 27 Total 19 ​ $ 33,434 ​ 13 ​ $ 11,506 ​ At this time, it is difficult to quantify the impact COVID-19 will have on future periods. This could cause the Company to experience a material adverse effect on our business operations, asset valuations, financial condition, and results of operations. Material adverse impacts may include all or a combination of an increase in the allowance for loan losses, valuation impairments on our investments or deferred tax assets. The Company has evaluated the impact of the effects of COVID-19 and determined that there were no material or systematic adverse impacts on the Company's third quarter 2020 Consolidated Statement of Financial Condition and Consolidated Statement of Income except for a continued elevated level of general provisioning for loan losses and related allowance for loan losses. Subsequent Events The Company has evaluated subsequent events for recognition and disclosure through the date of issuance. Specifically refer to the risk and uncertainties disclosure on the previous page for loan payment deferral information and Note 3 for discussion pertaining to nonperforming loans. 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 now are such matters that will have a material effect on the Consolidated Financial Statements. New Accounting Pronouncements 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 and certain other contracts. This ASU was originally effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. At its July 17, 2019 public meeting, FASB issued a proposal to delay the effective date of ASU 2016-13 for certain entities, including SEC filers classified as smaller reporting companies. On October 16, 2019, FASB voted for the delay, the revised effective date for adoption for the Company, which is classified as a smaller reporting company, is January 1, 2023. Due to this change in effective date, the Company plans to adopt ASU 2016-13 on or before January 1, 2023, using the required modified retrospective method with a cumulative effect adjustment as of the beginning of the reporting period. The Company has gathered the necessary data and continues to prepare for the implementation of this standard.

Debt Securities

Debt Securities	9 Months Ended
	Sep. 30, 2020
Debt Securities
Debt Securities	NOTE 2 — Debt 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 30,403 ​ $ 1,214 ​ $ — ​ $ 31,617 Collateralized mortgage obligations (CMOs) – agency ​ ​ 77,706 ​ ​ 1,127 ​ ​ (29) ​ ​ 78,804 Total available-for-sale ​ $ 108,109 ​ $ 2,341 ​ $ (29) ​ $ 110,421 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 24,603 ​ $ 524 ​ $ (90) ​ $ 25,037 Collateralized mortgage obligations (CMOs) – agency ​ ​ 121,276 ​ ​ 451 ​ ​ (345) ​ ​ 121,382 Total available-for-sale ​ $ 145,879 ​ $ 975 ​ $ (435) ​ $ 146,419 ​ Mortgage-backed securities include all pass-through certificates guaranteed by FHLMC, FNMA, or GNMA and the CMOs are backed by government agency pass-through certificates. CMOs, by virtue of the underlying residential collateral or structure, are fixed rate current pay sequentials or planned amortization classes (PACs). As actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations, these securities are not considered to have a single maturity date. There were no sales or calls of securities for the three and nine months ended September 30, 2020. At September 30, 2020, securities having a fair value of $86.1 million were pledged to the Federal Home Loan Bank of New York (FHLB) for borrowing capacity totaling $82.4 million. At December 31, 2019, securities having a fair value of $122.8 million were pledged to the FHLB for borrowing capacity totaling $116.7 million. At September 30, 2020 and December 31, 2019, the Company had no outstanding FHLB advances. At September 30, 2020, securities having a fair value of $21.0 million were pledged to the Federal Reserve Bank of New York (FRB) for borrowing capacity totaling $20.6 million. At December 31, 2019, securities having a fair value of $23.6 million were pledged to the FRB for borrowing capacity totaling $22.9 million. At September 30, 2020 and December 31, 2019, 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 Gross Fair Gross Fair Gross ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — CMOs – agency ​ ​ 8,615 ​ ​ (14) ​ ​ 2,492 ​ ​ (15) ​ ​ 11,107 ​ ​ (29) Total temporarily impaired securities ​ $ 8,615 ​ $ (14) ​ $ 2,492 ​ $ (15) ​ $ 11,107 ​ $ (29) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities - agency ​ $ — ​ $ — ​ $ 9,529 ​ $ (90) ​ $ 9,529 ​ $ (90) CMOs - Agency ​ ​ 20,639 ​ ​ (66) ​ ​ 22,295 ​ ​ (279) ​ ​ 42,934 ​ ​ (345) Total temporarily impaired securities ​ $ 20,639 ​ $ (66) ​ $ 31,824 ​ $ (369) ​ $ 52,463 ​ $ (435) ​ 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, 2020, securities in unrealized loss positions were issuances from government sponsored entities. Due to the decline in fair value being 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, 2020. No impairment charges were recorded for the three and nine months ended September 30, 2020.

Loans

Loans	9 Months Ended
	Sep. 30, 2020
Loans
Loans	NOTE 3 — Loans The composition of loans by class is summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ (In thousands) 1 – 4 family ​ $ 48,925 ​ $ 48,140 Commercial ​ ​ 320,970 ​ ​ 257,957 Multifamily ​ ​ 168,743 ​ ​ 152,633 Commercial real estate ​ ​ 54,097 ​ ​ 52,477 Construction ​ ​ — ​ ​ 6,450 Consumer ​ ​ 43,082 ​ ​ 47,322 Total Loans ​ ​ 635,817 ​ ​ 564,979 ​ ​ ​ ​ ​ ​ ​ Deferred costs and unearned premiums, net ​ ​ (150) ​ ​ 390 Allowance for loan losses ​ ​ (11,557) ​ ​ (6,989) Loans, net ​ $ 624,110 ​ $ 558,380 ​ At September 30, 2020, the commercial loans balance included $21.9 million of Small Business Administration (SBA) Paycheck Protection Program (PPP) loans. There were no SBA PPP loans at December 31, 2019. The following tables present the activity in the allowance for loan losses by class for the three months ending September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 739 ​ $ 4,816 ​ $ 2,126 ​ $ 982 ​ $ — ​ $ 2,013 ​ $ 10,676 Provision (credit) for loan losses ​ ​ (247) ​ ​ 77 ​ ​ (502) ​ ​ (248) ​ ​ — ​ ​ 1,820 ​ ​ 900 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ (2) ​ ​ — ​ ​ — ​ ​ — ​ ​ (17) ​ ​ (19) Total ending allowance balance ​ $ 492 ​ $ 4,891 ​ $ 1,624 ​ $ 734 ​ $ — ​ $ 3,816 ​ $ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 372 ​ $ 3,843 ​ $ 920 ​ $ 406 ​ $ 161 ​ $ 731 ​ $ 6,433 Provision (credit) for loan losses ​ ​ (16) ​ ​ 230 ​ ​ 19 ​ ​ 123 ​ ​ 1 ​ ​ 68 ​ ​ 425 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (117) ​ ​ (117) Total ending allowance balance ​ $ 356 ​ $ 4,073 ​ $ 939 ​ $ 529 ​ $ 162 ​ $ 682 ​ $ 6,741 ​ ​ The following tables present the activity in the allowance for loan losses by class for the nine months ending September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 344 ​ $ 4,048 ​ $ 1,048 ​ $ 560 ​ $ 161 ​ $ 828 ​ $ 6,989 Provision (credit) for loan losses ​ ​ 148 ​ ​ 845 ​ ​ 576 ​ ​ 174 ​ ​ (161) ​ ​ 3,118 ​ ​ 4,700 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ (2) ​ ​ — ​ ​ — ​ ​ — ​ ​ (130) ​ ​ (132) Total ending allowance balance ​ $ 492 ​ $ 4,891 ​ $ 1,624 ​ $ 734 ​ $ — ​ $ 3,816 ​ $ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 407 ​ $ 3,110 ​ $ 952 ​ $ 357 ​ $ 149 ​ $ 654 ​ $ 5,629 Provision (credit) for loan losses ​ ​ (51) ​ ​ 982 ​ ​ (13) ​ ​ 172 ​ ​ 13 ​ ​ 147 ​ ​ 1,250 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ (19) ​ ​ — ​ ​ — ​ ​ — ​ ​ (119) ​ ​ (138) Total ending allowance balance ​ $ 356 ​ $ 4,073 ​ $ 939 ​ $ 529 ​ $ 162 ​ $ 682 ​ $ 6,741 ​ 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, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 492 ​ 4,891 ​ 1,624 ​ 734 ​ — ​ 3,816 ​ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 492 ​ $ 4,891 ​ $ 1,624 ​ $ 734 ​ $ — ​ $ 3,816 ​ $ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,779 ​ $ 1,779 Loans collectively evaluated for impairment ​ 48,925 ​ 320,970 ​ 168,743 ​ 54,097 ​ — ​ 41,303 ​ 634,038 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 48,925 ​ $ 320,970 ​ $ 168,743 ​ $ 54,097 ​ $ — ​ $ 43,082 ​ $ 635,817 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) December 31, 2019 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 344 ​ 4,048 ​ 1,048 ​ 560 ​ 161 ​ 828 ​ 6,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 344 ​ $ 4,048 ​ $ 1,048 ​ $ 560 ​ $ 161 ​ $ 828 ​ $ 6,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,476 ​ $ 1,476 Loans collectively evaluated for impairment ​ 48,140 ​ 257,957 ​ 152,633 ​ 52,477 ​ 6,450 ​ 45,846 ​ 563,503 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 48,140 ​ $ 257,957 ​ $ 152,633 ​ $ 52,477 ​ $ 6,450 ​ $ 47,322 ​ $ 564,979 ​ Recorded investment is not adjusted for accrued interest, deferred fees and costs, and unearned premiums and discounts due to immateriality. The following table provides an analysis of the impaired loans by segment as of September 30, 2020 and December 31, 2019. There was no related allowance recorded on any impaired loans as of September 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ Unpaid ​ ​ ​ ​ Unpaid ​ ​ Recorded ​ Principal ​ Recorded ​ Principal ​ Investment Balance Investment Balance ​ ​ (In thousands) 1-4 family ​ $ — ​ $ — ​ $ — ​ $ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 1,779 ​ ​ 1,779 ​ ​ 1,476 ​ ​ 1,476 Total ​ $ 1,779 ​ $ 1,779 ​ $ 1,476 ​ $ 1,476 ​ ​ The following table provides an analysis of average recorded investment and interest income recognized by segment on impaired loans during the three and nine months ended September 30, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ Average ​ Interest ​ Average ​ Interest ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ Recorded ​ Income ​ Recorded ​ Income ​ Investment Recognized Investment Recognized Investment Recognized Investment Recognized ​ ​ (In thousands) 1-4 family residential ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 1,436 ​ ​ — ​ ​ 717 ​ ​ — ​ ​ 1,210 ​ ​ — ​ ​ 239 ​ ​ — Total ​ $ 1,436 ​ $ — ​ $ 717 ​ $ — ​ $ 1,210 ​ $ — ​ $ 239 ​ $ — ​ Nonperforming Loans Nonperforming loans include loans 90 days past due and still accruing and nonaccrual loans. The following tables present the aging of the recorded investment in past due loans by class of loans as of September 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Past ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Greater than ​ ​ ​ ​ Due & ​ ​ ​ ​ ​ ​ ​ ​ Days ​ Days ​ 90 Days ​ Nonaccrual ​ Nonaccrual ​ Loans Not ​ ​ ​ ​ Past Due Past Due Past Due Loans Loans Past Due Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 48,925 ​ $ 48,925 Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 320,970 ​ ​ 320,970 Multifamily ​ ​ — ​ ​ — ​ ​ 5,837 ​ ​ — ​ ​ 5,837 ​ ​ 162,906 ​ ​ 168,743 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 54,097 ​ ​ 54,097 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 6 ​ ​ — ​ ​ — ​ ​ 1,779 ​ ​ 1,785 ​ ​ 41,297 ​ ​ 43,082 Total ​ $ 6 ​ $ — ​ $ 5,837 ​ $ 1,779 ​ $ 7,622 ​ $ 628,195 ​ $ 635,817 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Past ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Greater than ​ ​ ​ ​ Due & ​ ​ ​ ​ ​ ​ ​ ​ Days ​ Days ​ 90 Days ​ Nonaccrual ​ Nonaccrual ​ Loans Not ​ ​ ​ ​ Past Due Past Due Past Due Loans Loans Past Due Total ​ ​ (In thousands) December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 48,140 ​ $ 48,140 Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 257,957 ​ ​ 257,957 Multifamily ​ ​ — ​ ​ 2,602 ​ ​ — ​ ​ — ​ ​ 2,602 ​ ​ 150,031 ​ ​ 152,633 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 52,477 ​ ​ 52,477 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,450 ​ ​ 6,450 Consumer ​ ​ — ​ ​ 6 ​ ​ — ​ ​ 1,476 ​ ​ 1,482 ​ ​ 45,840 ​ ​ 47,322 Total ​ $ — ​ $ 2,608 ​ $ — ​ $ 1,476 ​ $ 4,084 ​ $ 560,895 ​ $ 564,979 ​ At September 30, 2020, the Company had $7.6 million in nonperforming loans. Loans greater than 90 days past due were comprised of one multifamily loan with a loan principal balance of $5.8 million serviced by a third party that is past maturity with loan payments held by Esquire Bank. Subsequent to September 30, 2020, the multifamily loan has been extended and is current and performing. Nonaccrual loans were comprised of consumer NFL post settlement loans with an aggregate carrying amount of $1.8 million. At December 31, 2019, the Company had $1.5 million in nonperforming loans. 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 ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ 48,925 ​ $ — ​ $ — ​ $ — Commercial ​ ​ 320,855 ​ ​ — ​ ​ 115 ​ ​ — Multifamily ​ ​ 162,906 ​ ​ 5,837 ​ ​ — ​ ​ — Commercial real estate ​ ​ 54,097 ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 39,509 ​ ​ 1,794 ​ ​ 1,779 ​ ​ — Total ​ $ 626,292 ​ $ 7,631 ​ $ 1,894 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful ​ ​ (In thousands) December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ 48,140 ​ $ — ​ $ — ​ $ — Commercial ​ ​ 257,832 ​ ​ — ​ ​ 125 ​ ​ — Multifamily ​ ​ 152,633 ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ 52,477 ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ 6,450 ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 42,431 ​ ​ 3,415 ​ ​ 1,476 ​ ​ — Total ​ $ 559,963 ​ $ 3,415 ​ $ 1,601 ​ $ — ​ The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For smaller dollar commercial 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 TDRs at September 30, 2020 and December 31, 2019. Furthermore, there were no loans modified during the three and nine months ended September 30, 2020 and 2019 as TDRs. 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. As discussed in Note 1, the Company implemented a payment deferral program in response to the COVID-19 crisis and elected to evaluate the modified loan population under the CARES Act which allows for troubled debt restructuring categorization to be suspended. Pledged Loans At September 30, 2020, loans totaling $37.6 million were pledged to the Federal Home Loan Bank of New York for borrowing capacity totaling $28.9 million. At December 31, 2019, loans totaling $39.8 million were pledged to the Federal Home Loan Bank of New York for borrowing capacity totaling $27.0 million.

Noninterest Income

Noninterest Income	9 Months Ended
	Sep. 30, 2020
Noninterest Income.
Noninterest Income	NOTE 4 — Noninterest Income Descriptions of revenue-generating activities that are within the scope of Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, and are presented in the Consolidated Statements of Income as components of noninterest income, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended September 30, ​ For the Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Noninterest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer related fees and service charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative service income ​ $ 41 ​ $ 107 ​ $ 140 ​ $ 395 Merchant processing income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merchant services income ​ ​ 3,551 ​ ​ 3,124 ​ ​ 9,023 ​ ​ 7,585 ACH income ​ ​ 170 ​ ​ 160 ​ ​ 504 ​ ​ 409 Other ​ ​ 122 ​ ​ 84 ​ ​ 292 ​ ​ 258 Total noninterest income ​ $ 3,884 ​ $ 3,475 ​ $ 9,959 ​ $ 8,647 ​ ​ The Company has made no significant judgments in applying the revenue guidance prescribed in ASC 606 that affect the determination of the amount and timing of revenue from the above-described contracts with customers. ● Administrative service income – Administrative service income is derived primarily from the management of qualified settlement funds (QSFs), which are funds from settled mass torts and class action lawsuits. Our performance obligations with the QSFs are outlined in court approved orders which includes ensuring funds are invested into safe investment vehicles such as U.S. treasuries and FDIC insured products. Our fees for placing these funds in appropriate vehicles are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. ● Merchant services income – We provide merchant services as an acquiring bank through the third-party or independent sales organization (ISO) business model in which we process credit and debit card transactions on behalf of merchants. We enter into a tri-party merchant agreement, between the Company, ISO and each merchant. The Company’s performance obligation is clearing and settling credit and debit transactions on behalf of the merchants. The Company recognizes revenue monthly once it summarizes and computes all revenue and expenses applicable to each ISO, which is our performance obligation. ● ACH income – We provide ACH services for merchants and other commercial customers. Contracts are entered into with third parties that require ACH transactions processed on behalf of their customers. Fees are variable and based on the volume of transactions within a given month. Our performance obligations are processing and settling ACHs on behalf of the customers. Our obligation is satisfied within each business day when the transactions (ACH files) are sent to the Federal Reserve Bank for clearing. Revenue is recognized based on the total volume of transactions processed that month for a given customer. ● Other – The other category includes revenue from service charges on deposit accounts, debit card fees, and certain loan related fees where revenue is recognized as performance obligations are satisfied.

Share-Based Payment Plans

Share-Based Payment Plans	9 Months Ended
	Sep. 30, 2020
Share-Based Payment Plans
Share-Based Payment Plans	NOTE 5 — Share-Based Payment Plans The Company issues incentive and nonqualified stock options and restricted stock awards to certain employees and directors pursuant to its equity incentive plans, which have been approved by the stockholders. Share-based awards are granted by the Compensation Committee of the Board of Directors. Under the 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 over three four 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, 2019. The fair value of options granted during the three and nine months ended September 30, 2020 was determined using the following weighted average assumptions as of the grant date: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three and nine months ended ​ ​ September 30, 2020 ​ Risk-Free Interest Rate ​ 0.47 % Expected Term ​ 84 months ​ Expected Stock Price Volatility ​ 49.3 % Dividend Yield ​ 0.00 % ​ ​ ​ ​ ​ Weighted Average Fair Value ​ $ 8.43 ​ ​ The following table presents a summary of the activity related to options as of September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ Exercise ​ Contractual ​ Options Price Life (Years) September 30, 2020 ​ Outstanding at beginning of year 916,425 ​ $ 13.56 Granted 10,000 ​ 17.06 Exercised (65,200) ​ 12.50 Forfeited (1,500) ​ 24.90 Outstanding at period end 859,725 ​ $ 13.66 5.66 Vested or expected to vest 859,725 ​ $ 13.66 5.66 Exercisable at period end 750,362 ​ $ 13.02 5.43 ​ The Company recognized compensation expense related to options of $124 thousand and $129 thousand for the three months ended September 30, 2020 and 2019, respectively. The Company recognized compensation expense related to options of $387 thousand and $392 thousand for the nine months ended September 30, 2020 and 2019, respectively. At September 30, 2020, unrecognized compensation cost related to nonvested options was approximately $428 thousand and is expected to be recognized over a weighted average period of 1.51 years. The intrinsic value for outstanding options and for options vested or expected to vest was $1.9 million and $1.8 million for exercisable options at September 30, 2020. Information related to stock option exercises during each period is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Intrinsic value of options exercised ​ $ — ​ $ 122 ​ $ 878 ​ $ 163 Cash received from option exercises ​ ​ — ​ ​ — ​ ​ 290 ​ ​ 50 Tax benefit from option exercises ​ ​ — ​ ​ 18 ​ ​ 77 ​ ​ 23 ​ The following table presents a summary of the activity related to restricted stock as of September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ Shares ​ Fair Value September 30, 2020 ​ ​ ​ ​ ​ Outstanding at beginning of year 259,000 $ 23.81 Granted — ​ ​ — Vested — ​ ​ — Outstanding at period end 259,000 $ 23.81 ​ The Company recognized compensation expense related to restricted stock of $259 thousand and $140 thousand for the three months ended September 30, 2020 and 2019, respectively. The Company recognized compensation expense related to restricted stock of $771 thousand and $417 thousand for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, there was $4.6 million of total unrecognized compensation cost related to nonvested shares granted under the plan. The cost is expected to be recognized over a weighted-average period of 4.62 years.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2020
Earnings per Share
Earnings per Share	NOTE 6 — Earnings per Share The factors used in the earnings per share computation follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands, except per share data) Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 3,606 ​ $ 3,817 ​ $ 8,736 ​ $ 10,270 Weighted average common shares outstanding ​ ​ 7,403,840 ​ ​ 7,391,611 ​ ​ 7,414,264 ​ ​ 7,387,196 Basic earnings per share ​ $ 0.49 ​ $ 0.52 ​ $ 1.18 ​ $ 1.39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 3,606 ​ $ 3,817 ​ $ 8,736 ​ $ 10,270 Weighted average shares outstanding for basic earnings per share ​ ​ 7,403,840 ​ ​ 7,391,611 ​ ​ 7,414,264 ​ ​ 7,387,196 Add: Dilutive effects of share based awards ​ ​ 172,124 ​ ​ 406,701 ​ ​ 225,103 ​ ​ 385,284 Average shares and dilutive potential common shares ​ ​ 7,575,964 ​ ​ 7,798,312 ​ ​ 7,639,367 ​ ​ 7,772,480 Diluted earnings per share ​ $ 0.48 ​ $ 0.49 ​ $ 1.14 ​ $ 1.32 ​ Share-based awards totaling 303,250 and 42,500 shares of common stock were not considered in computing diluted earnings per common share for the three months ended September 30, 2020 and September 30, 2019, respectively, because they were anti-dilutive. Share-based awards totaling 303,250 and 42,500 shares of common stock were not considered in computing diluted earnings per common share for the nine months ended September 30, 2020 and September 30, 2019, respectively, because they were anti-dilutive.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases
Leases	NOTE 7 — Leases As of January 1, 2019, the Company recognizes the present value of its operating lease payments related to its office facilities and retail branch as operating lease assets and corresponding lease liabilities on the Consolidated Statements of Financial Condition. These operating lease assets represent the Company’s right to use an underlying asset for the lease term, and the lease liability represents the Company’s obligation to make lease payments over the lease term. As these leases do not provide an implicit rate, the Company used its incremental borrowing rate, the rate of interest to borrow on a collateralized basis for a similar term, at the lease commencement date in order to determine present value. Short-term lease payments, those leases with original terms of 12 months or less, are recognized in the Consolidated Statements of Income, on a straight-line basis over the lease term. Certain leases may include one or more options to renew. The exercise of lease renewal options is typically at the Company’s discretion and are included in the operating lease liability if it is reasonably certain that the renewal option will be exercised. Certain real estate leases may contain lease and non-lease components, such as common area maintenance charges, real estate taxes, and insurance, which are generally accounted for separately and are not included in the measurement of the lease liability since they are generally able to be segregated. The Company does not sublease any of its leased properties. The Company does not lease properties from any related parties. As of September 30, 2020, right of use (“ROU”) lease assets liabilities assets liabilities ​ Maturities of the Company’s operating lease liabilities at September 30, 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ ​ ​ Liabilities ​ ​ ​ (In thousands) 2020 ​ $ 159 2021 ​ 645 2022 ​ 644 2023 ​ 636 2024 ​ 652 Thereafter ​ 1,295 Total operating lease payments ​ $ 4,031 Less: interest ​ ​ 433 Present value of operating lease liabilities ​ $ 3,598 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, ​ ​ ​ 2020 ​ 2019 ​ Weighted-average remaining lease term ​ ​ 6.08 years ​ 7.11 years Weighted-average discount rate ​ ​ 3.05 % ​ 3.28 % ​ ​ The components of total lease cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, September 30, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ ​ (In thousands) ​ Operating lease cost ​ $ 141 ​ $ 120 ​ $ 422 ​ $ 359 ​ Short-term lease cost ​ ​ 14 ​ ​ 15 ​ ​ 52 ​ ​ 41 ​ Total lease cost ​ $ 155 ​ $ 135 ​ $ 474 ​ $ 400 ​ ​ ​ ​ Cash paid for operating lease liabilities was $431 thousand and $301 thousand for the nine months ended September 30, 2020 and 2019, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Measurements
Fair Value Measurements	NOTE 8 — 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 ​ Significant ​ Significant ​ (Level 1) (Level 2) (Level 3) ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 31,617 ​ $ — CMOs – agency ​ ​ — ​ ​ 78,804 ​ ​ — Total ​ $ — ​ $ 110,421 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 25,037 ​ $ — CMOs – agency ​ ​ — ​ ​ 121,382 ​ ​ — Total ​ $ — ​ $ 146,419 ​ $ — ​ There were no transfers between Level 1 and Level 2 during the three and nine months ended September 30, 2020 and 2019. There were no assets measured on a nonrecurring basis as of September 30, 2020 and December 31, 2019. The following tables present the carrying amounts and fair values (represents exit price) of financial instruments at September 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at September 30, 2020, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 110,593 ​ $ 1,353 ​ $ 109,240 ​ $ — ​ $ 110,593 Securities available-for-sale ​ ​ 110,421 ​ ​ — ​ ​ 110,421 ​ ​ — ​ ​ 110,421 Securities, restricted, at cost ​ ​ 2,694 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans, net ​ ​ 624,110 ​ ​ — ​ ​ — ​ ​ 622,132 ​ ​ 622,132 Accrued interest receivable ​ ​ 4,339 ​ ​ — ​ ​ 285 ​ ​ 4,054 ​ ​ 4,339 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 4,308 ​ ​ — ​ ​ 4,320 ​ ​ — ​ ​ 4,320 Demand and other deposits ​ ​ 741,202 ​ ​ 741,202 ​ ​ — ​ ​ — ​ ​ 741,202 Secured borrowings ​ ​ 84 ​ ​ — ​ ​ 84 ​ ​ — ​ ​ 84 Accrued interest payable ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at December 31, 2019, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 61,806 ​ $ 669 ​ $ 61,007 ​ $ — ​ $ 61,676 Securities available-for-sale ​ ​ 146,419 ​ ​ — ​ ​ 146,419 ​ ​ — ​ ​ 146,419 Securities, restricted, at cost ​ ​ 2,665 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans, net ​ ​ 558,380 ​ ​ — ​ ​ — ​ ​ 560,859 ​ ​ 560,859 Accrued interest receivable ​ ​ 3,242 ​ ​ — ​ ​ 386 ​ ​ 2,856 ​ ​ 3,242 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 19,746 ​ ​ — ​ ​ 19,763 ​ ​ — ​ ​ 19,763 Demand and other deposits ​ ​ 660,874 ​ ​ 660,874 ​ ​ — ​ ​ — ​ ​ 660,874 Secured borrowings ​ ​ 86 ​ ​ — ​ ​ 86 ​ ​ — ​ ​ 86 Accrued interest payable ​ ​ 12 ​ ​ — ​ ​ 12 ​ ​ — ​ ​ 12 ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss)	NOTE 9 — Accumulated Other Comprehensive Income (Loss) The following presents changes in accumulated other comprehensive income (loss) by component, net of tax for the three and nine months ending September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Unrealized Gains (Losses) on Available-for-Sale Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,899 ​ $ (80) ​ $ 386 ​ $ (2,614) Other comprehensive (loss) income before reclassifications, net of tax ​ ​ (246) ​ ​ 466 ​ ​ 1,267 ​ ​ 3,000 Amounts reclassified from accumulated other comprehensive income ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net current period other comprehensive (loss) income ​ ​ (246) ​ ​ 466 ​ ​ 1,267 ​ ​ 3,000 Ending balance ​ $ 1,653 ​ $ 386 ​ $ 1,653 ​ $ 386 ​ There were no reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2020 and 2019.

Accounting Policy (Policies)

Accounting Policy (Policies)	9 Months Ended
	Sep. 30, 2020
Basis of Presentation and Summary of Significant Accounting Policies
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, 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, 2019 and 2018. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or any other period. Certain balances in the prior year financial statements were reclassified to conform to current presentation. The reclassifications had no effect on prior year net income or stockholders’ equity.
Risks and Uncertainties	Risks and Uncertainties On March 11, 2020, the World Health Organization declared COVID-19, the disease caused by the novel coronavirus, a pandemic as a result of the global spread of the coronavirus illness. In response to the outbreak, federal and state authorities in the U.S. introduced various measures to try to limit or slow the spread of the virus, including travel restrictions, nonessential business closures, stay-at-home orders, and strict social distancing. The full impact of COVID-19 is unknown and rapidly evolving. We have implemented a customer payment deferral program (principal and interest) to assist business borrowers and certain consumers that may be experiencing financial hardship due to COVID-19 related challenges. These loans will continue to accrue interest during the deferral period unless otherwise classified as nonperforming. Consistent with regulatory guidance and the provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), borrowers that were otherwise current on loan payments that were granted COVID-19 related financial hardship payment deferrals will continue to be reported as current loans during the deferral period and not evaluated as to whether they are troubled debt restructurings (“TDR”). There were no delinquent loans upon adoption of our payment deferral program. The following table provides the principal balance of payment deferral program loans where there has been a sixty six ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ November 6, 2020 ​ (Dollars in thousands) ​ Number of ​ ​ Loan ​ Number of ​ ​ Loan ​ Borrowers ​ ​ Balance ​ Borrowers ​ ​ Balance 1 – 4 family 3 ​ $ 14,149 ​ 1 ​ $ 3,015 Commercial 1 ​ ​ 2,954 ​ 1 ​ ​ 2,954 Multifamily 4 ​ ​ 6,988 ​ 1 ​ ​ 3,751 Commercial real estate 2 ​ ​ 9,309 ​ 2 ​ ​ 1,759 Construction — ​ ​ — ​ — ​ ​ — Consumer 9 ​ ​ 34 ​ 8 ​ ​ 27 Total 19 ​ $ 33,434 ​ 13 ​ $ 11,506 ​ At this time, it is difficult to quantify the impact COVID-19 will have on future periods. This could cause the Company to experience a material adverse effect on our business operations, asset valuations, financial condition, and results of operations. Material adverse impacts may include all or a combination of an increase in the allowance for loan losses, valuation impairments on our investments or deferred tax assets. The Company has evaluated the impact of the effects of COVID-19 and determined that there were no material or systematic adverse impacts on the Company's third quarter 2020 Consolidated Statement of Financial Condition and Consolidated Statement of Income except for a continued elevated level of general provisioning for loan losses and related allowance for loan losses.
Subsequent Events	Subsequent Events The Company has evaluated subsequent events for recognition and disclosure through the date of issuance. Specifically refer to the risk and uncertainties disclosure on the previous page for loan payment deferral information and Note 3 for discussion pertaining to nonperforming loans.
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 now are such matters that will have a material effect on the Consolidated Financial Statements.
New Accounting Pronouncements	New Accounting Pronouncements 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 and certain other contracts. This ASU was originally effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. At its July 17, 2019 public meeting, FASB issued a proposal to delay the effective date of ASU 2016-13 for certain entities, including SEC filers classified as smaller reporting companies. On October 16, 2019, FASB voted for the delay, the revised effective date for adoption for the Company, which is classified as a smaller reporting company, is January 1, 2023. Due to this change in effective date, the Company plans to adopt ASU 2016-13 on or before January 1, 2023, using the required modified retrospective method with a cumulative effect adjustment as of the beginning of the reporting period. The Company has gathered the necessary data and continues to prepare for the implementation of this standard.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Basis of Presentation and Summary of Significant Accounting Policies
Schedule of loans associated with payment deferral program	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ November 6, 2020 ​ (Dollars in thousands) ​ Number of ​ ​ Loan ​ Number of ​ ​ Loan ​ Borrowers ​ ​ Balance ​ Borrowers ​ ​ Balance 1 – 4 family 3 ​ $ 14,149 ​ 1 ​ $ 3,015 Commercial 1 ​ ​ 2,954 ​ 1 ​ ​ 2,954 Multifamily 4 ​ ​ 6,988 ​ 1 ​ ​ 3,751 Commercial real estate 2 ​ ​ 9,309 ​ 2 ​ ​ 1,759 Construction — ​ ​ — ​ — ​ ​ — Consumer 9 ​ ​ 34 ​ 8 ​ ​ 27 Total 19 ​ $ 33,434 ​ 13 ​ $ 11,506

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Securities
Schedule of amortized cost, gross unrealized gains and losses and estimated fair value of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 30,403 ​ $ 1,214 ​ $ — ​ $ 31,617 Collateralized mortgage obligations (CMOs) – agency ​ ​ 77,706 ​ ​ 1,127 ​ ​ (29) ​ ​ 78,804 Total available-for-sale ​ $ 108,109 ​ $ 2,341 ​ $ (29) ​ $ 110,421 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 24,603 ​ $ 524 ​ $ (90) ​ $ 25,037 Collateralized mortgage obligations (CMOs) – agency ​ ​ 121,276 ​ ​ 451 ​ ​ (345) ​ ​ 121,382 Total available-for-sale ​ $ 145,879 ​ $ 975 ​ $ (435) ​ $ 146,419
Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Fair Gross Fair Gross Fair Gross ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — CMOs – agency ​ ​ 8,615 ​ ​ (14) ​ ​ 2,492 ​ ​ (15) ​ ​ 11,107 ​ ​ (29) Total temporarily impaired securities ​ $ 8,615 ​ $ (14) ​ $ 2,492 ​ $ (15) ​ $ 11,107 ​ $ (29) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities - agency ​ $ — ​ $ — ​ $ 9,529 ​ $ (90) ​ $ 9,529 ​ $ (90) CMOs - Agency ​ ​ 20,639 ​ ​ (66) ​ ​ 22,295 ​ ​ (279) ​ ​ 42,934 ​ ​ (345) Total temporarily impaired securities ​ $ 20,639 ​ $ (66) ​ $ 31,824 ​ $ (369) ​ $ 52,463 ​ $ (435)

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2020
Loans
Schedule of composition of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ December 31, 2019 ​ ​ (In thousands) 1 – 4 family ​ $ 48,925 ​ $ 48,140 Commercial ​ ​ 320,970 ​ ​ 257,957 Multifamily ​ ​ 168,743 ​ ​ 152,633 Commercial real estate ​ ​ 54,097 ​ ​ 52,477 Construction ​ ​ — ​ ​ 6,450 Consumer ​ ​ 43,082 ​ ​ 47,322 Total Loans ​ ​ 635,817 ​ ​ 564,979 ​ ​ ​ ​ ​ ​ ​ Deferred costs and unearned premiums, net ​ ​ (150) ​ ​ 390 Allowance for loan losses ​ ​ (11,557) ​ ​ (6,989) Loans, net ​ $ 624,110 ​ $ 558,380
Schedule of activity in allowance for loan losses	At September 30, 2020, the commercial loans balance included $21.9 million of Small Business Administration (SBA) Paycheck Protection Program (PPP) loans. There were no SBA PPP loans at December 31, 2019. The following tables present the activity in the allowance for loan losses by class for the three months ending September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 739 ​ $ 4,816 ​ $ 2,126 ​ $ 982 ​ $ — ​ $ 2,013 ​ $ 10,676 Provision (credit) for loan losses ​ ​ (247) ​ ​ 77 ​ ​ (502) ​ ​ (248) ​ ​ — ​ ​ 1,820 ​ ​ 900 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ (2) ​ ​ — ​ ​ — ​ ​ — ​ ​ (17) ​ ​ (19) Total ending allowance balance ​ $ 492 ​ $ 4,891 ​ $ 1,624 ​ $ 734 ​ $ — ​ $ 3,816 ​ $ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 372 ​ $ 3,843 ​ $ 920 ​ $ 406 ​ $ 161 ​ $ 731 ​ $ 6,433 Provision (credit) for loan losses ​ ​ (16) ​ ​ 230 ​ ​ 19 ​ ​ 123 ​ ​ 1 ​ ​ 68 ​ ​ 425 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (117) ​ ​ (117) Total ending allowance balance ​ $ 356 ​ $ 4,073 ​ $ 939 ​ $ 529 ​ $ 162 ​ $ 682 ​ $ 6,741 ​ ​ The following tables present the activity in the allowance for loan losses by class for the nine months ending September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 344 ​ $ 4,048 ​ $ 1,048 ​ $ 560 ​ $ 161 ​ $ 828 ​ $ 6,989 Provision (credit) for loan losses ​ ​ 148 ​ ​ 845 ​ ​ 576 ​ ​ 174 ​ ​ (161) ​ ​ 3,118 ​ ​ 4,700 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ (2) ​ ​ — ​ ​ — ​ ​ — ​ ​ (130) ​ ​ (132) Total ending allowance balance ​ $ 492 ​ $ 4,891 ​ $ 1,624 ​ $ 734 ​ $ — ​ $ 3,816 ​ $ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 407 ​ $ 3,110 ​ $ 952 ​ $ 357 ​ $ 149 ​ $ 654 ​ $ 5,629 Provision (credit) for loan losses ​ ​ (51) ​ ​ 982 ​ ​ (13) ​ ​ 172 ​ ​ 13 ​ ​ 147 ​ ​ 1,250 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ (19) ​ ​ — ​ ​ — ​ ​ — ​ ​ (119) ​ ​ (138) Total ending allowance balance ​ $ 356 ​ $ 4,073 ​ $ 939 ​ $ 529 ​ $ 162 ​ $ 682 ​ $ 6,741 ​ 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, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 492 ​ 4,891 ​ 1,624 ​ 734 ​ — ​ 3,816 ​ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 492 ​ $ 4,891 ​ $ 1,624 ​ $ 734 ​ $ — ​ $ 3,816 ​ $ 11,557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,779 ​ $ 1,779 Loans collectively evaluated for impairment ​ 48,925 ​ 320,970 ​ 168,743 ​ 54,097 ​ — ​ 41,303 ​ 634,038 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 48,925 ​ $ 320,970 ​ $ 168,743 ​ $ 54,097 ​ $ — ​ $ 43,082 ​ $ 635,817 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ 1 ‑ 4 Family ​ Commercial ​ Multifamily ​ Real Estate ​ Construction ​ Consumer ​ Total ​ ​ (In thousands) December 31, 2019 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 344 ​ 4,048 ​ 1,048 ​ 560 ​ 161 ​ 828 ​ 6,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 344 ​ $ 4,048 ​ $ 1,048 ​ $ 560 ​ $ 161 ​ $ 828 ​ $ 6,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,476 ​ $ 1,476 Loans collectively evaluated for impairment ​ 48,140 ​ 257,957 ​ 152,633 ​ 52,477 ​ 6,450 ​ 45,846 ​ 563,503 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 48,140 ​ $ 257,957 ​ $ 152,633 ​ $ 52,477 ​ $ 6,450 ​ $ 47,322 ​ $ 564,979
Schedule of impaired loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ Unpaid ​ ​ ​ ​ Unpaid ​ ​ Recorded ​ Principal ​ Recorded ​ Principal ​ Investment Balance Investment Balance ​ ​ (In thousands) 1-4 family ​ $ — ​ $ — ​ $ — ​ $ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 1,779 ​ ​ 1,779 ​ ​ 1,476 ​ ​ 1,476 Total ​ $ 1,779 ​ $ 1,779 ​ $ 1,476 ​ $ 1,476 ​ ​ The following table provides an analysis of average recorded investment and interest income recognized by segment on impaired loans during the three and nine months ended September 30, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ Average ​ Interest ​ Average ​ Interest ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ Recorded ​ Income ​ Recorded ​ Income ​ Investment Recognized Investment Recognized Investment Recognized Investment Recognized ​ ​ (In thousands) 1-4 family residential ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 1,436 ​ ​ — ​ ​ 717 ​ ​ — ​ ​ 1,210 ​ ​ — ​ ​ 239 ​ ​ — Total ​ $ 1,436 ​ $ — ​ $ 717 ​ $ — ​ $ 1,210 ​ $ — ​ $ 239 ​ $ —
Schedule of aging of recorded investment in past due loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Past ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Greater than ​ ​ ​ ​ Due & ​ ​ ​ ​ ​ ​ ​ ​ Days ​ Days ​ 90 Days ​ Nonaccrual ​ Nonaccrual ​ Loans Not ​ ​ ​ ​ Past Due Past Due Past Due Loans Loans Past Due Total ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 48,925 ​ $ 48,925 Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 320,970 ​ ​ 320,970 Multifamily ​ ​ — ​ ​ — ​ ​ 5,837 ​ ​ — ​ ​ 5,837 ​ ​ 162,906 ​ ​ 168,743 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 54,097 ​ ​ 54,097 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 6 ​ ​ — ​ ​ — ​ ​ 1,779 ​ ​ 1,785 ​ ​ 41,297 ​ ​ 43,082 Total ​ $ 6 ​ $ — ​ $ 5,837 ​ $ 1,779 ​ $ 7,622 ​ $ 628,195 ​ $ 635,817 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Past ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Greater than ​ ​ ​ ​ Due & ​ ​ ​ ​ ​ ​ ​ ​ Days ​ Days ​ 90 Days ​ Nonaccrual ​ Nonaccrual ​ Loans Not ​ ​ ​ ​ Past Due Past Due Past Due Loans Loans Past Due Total ​ ​ (In thousands) December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 48,140 ​ $ 48,140 Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 257,957 ​ ​ 257,957 Multifamily ​ ​ — ​ ​ 2,602 ​ ​ — ​ ​ — ​ ​ 2,602 ​ ​ 150,031 ​ ​ 152,633 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 52,477 ​ ​ 52,477 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,450 ​ ​ 6,450 Consumer ​ ​ — ​ ​ 6 ​ ​ — ​ ​ 1,476 ​ ​ 1,482 ​ ​ 45,840 ​ ​ 47,322 Total ​ $ — ​ $ 2,608 ​ $ — ​ $ 1,476 ​ $ 4,084 ​ $ 560,895 ​ $ 564,979
Schedule of risk category of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ 48,925 ​ $ — ​ $ — ​ $ — Commercial ​ ​ 320,855 ​ ​ — ​ ​ 115 ​ ​ — Multifamily ​ ​ 162,906 ​ ​ 5,837 ​ ​ — ​ ​ — Commercial real estate ​ ​ 54,097 ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 39,509 ​ ​ 1,794 ​ ​ 1,779 ​ ​ — Total ​ $ 626,292 ​ $ 7,631 ​ $ 1,894 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful ​ ​ (In thousands) December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 – 4 family ​ $ 48,140 ​ $ — ​ $ — ​ $ — Commercial ​ ​ 257,832 ​ ​ — ​ ​ 125 ​ ​ — Multifamily ​ ​ 152,633 ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ 52,477 ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ 6,450 ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ 42,431 ​ ​ 3,415 ​ ​ 1,476 ​ ​ — Total ​ $ 559,963 ​ $ 3,415 ​ $ 1,601 ​ $ —

Noninterest Income (Tables)

Noninterest Income (Tables)	9 Months Ended
	Sep. 30, 2020
Noninterest Income.
Schedule of Consolidated of Income as components of noninterest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended September 30, ​ For the Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Noninterest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer related fees and service charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative service income ​ $ 41 ​ $ 107 ​ $ 140 ​ $ 395 Merchant processing income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Merchant services income ​ ​ 3,551 ​ ​ 3,124 ​ ​ 9,023 ​ ​ 7,585 ACH income ​ ​ 170 ​ ​ 160 ​ ​ 504 ​ ​ 409 Other ​ ​ 122 ​ ​ 84 ​ ​ 292 ​ ​ 258 Total noninterest income ​ $ 3,884 ​ $ 3,475 ​ $ 9,959 ​ $ 8,647

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Share-Based Payment Plans
Schedule of fair value of weighted-average assumptions of options granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three and nine months ended ​ ​ September 30, 2020 ​ Risk-Free Interest Rate ​ 0.47 % Expected Term ​ 84 months ​ Expected Stock Price Volatility ​ 49.3 % Dividend Yield ​ 0.00 % ​ ​ ​ ​ ​ Weighted Average Fair Value ​ $ 8.43 ​
Schedule of option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ Exercise ​ Contractual ​ Options Price Life (Years) September 30, 2020 ​ Outstanding at beginning of year 916,425 ​ $ 13.56 Granted 10,000 ​ 17.06 Exercised (65,200) ​ 12.50 Forfeited (1,500) ​ 24.90 Outstanding at period end 859,725 ​ $ 13.66 5.66 Vested or expected to vest 859,725 ​ $ 13.66 5.66 Exercisable at period end 750,362 ​ $ 13.02 5.43
Schedule of information related to stock option exercises	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands) Intrinsic value of options exercised ​ $ — ​ $ 122 ​ $ 878 ​ $ 163 Cash received from option exercises ​ ​ — ​ ​ — ​ ​ 290 ​ ​ 50 Tax benefit from option exercises ​ ​ — ​ ​ 18 ​ ​ 77 ​ ​ 23
Schedule of activity related to restricted stock	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ Shares ​ Fair Value September 30, 2020 ​ ​ ​ ​ ​ Outstanding at beginning of year 259,000 $ 23.81 Granted — ​ ​ — Vested — ​ ​ — Outstanding at period end 259,000 $ 23.81

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings per Share
Schedule of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (Dollars in thousands, except per share data) Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 3,606 ​ $ 3,817 ​ $ 8,736 ​ $ 10,270 Weighted average common shares outstanding ​ ​ 7,403,840 ​ ​ 7,391,611 ​ ​ 7,414,264 ​ ​ 7,387,196 Basic earnings per share ​ $ 0.49 ​ $ 0.52 ​ $ 1.18 ​ $ 1.39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 3,606 ​ $ 3,817 ​ $ 8,736 ​ $ 10,270 Weighted average shares outstanding for basic earnings per share ​ ​ 7,403,840 ​ ​ 7,391,611 ​ ​ 7,414,264 ​ ​ 7,387,196 Add: Dilutive effects of share based awards ​ ​ 172,124 ​ ​ 406,701 ​ ​ 225,103 ​ ​ 385,284 Average shares and dilutive potential common shares ​ ​ 7,575,964 ​ ​ 7,798,312 ​ ​ 7,639,367 ​ ​ 7,772,480 Diluted earnings per share ​ $ 0.48 ​ $ 0.49 ​ $ 1.14 ​ $ 1.32

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases
Schedule of maturities of operating lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ ​ ​ Liabilities ​ ​ ​ (In thousands) 2020 ​ $ 159 2021 ​ 645 2022 ​ 644 2023 ​ 636 2024 ​ 652 Thereafter ​ 1,295 Total operating lease payments ​ $ 4,031 Less: interest ​ ​ 433 Present value of operating lease liabilities ​ $ 3,598
Schedule of lease assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, ​ ​ ​ 2020 ​ 2019 ​ Weighted-average remaining lease term ​ ​ 6.08 years ​ 7.11 years Weighted-average discount rate ​ ​ 3.05 % ​ 3.28 %
Schedule of lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, September 30, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ ​ ​ (In thousands) ​ Operating lease cost ​ $ 141 ​ $ 120 ​ $ 422 ​ $ 359 ​ Short-term lease cost ​ ​ 14 ​ ​ 15 ​ ​ 52 ​ ​ 41 ​ Total lease cost ​ $ 155 ​ $ 135 ​ $ 474 ​ $ 400 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Measurements
Schedule of assets measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ Quoted Prices ​ Significant ​ Significant ​ (Level 1) (Level 2) (Level 3) ​ ​ (In thousands) September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 31,617 ​ $ — CMOs – agency ​ ​ — ​ ​ 78,804 ​ ​ — Total ​ $ — ​ $ 110,421 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 25,037 ​ $ — CMOs – agency ​ ​ — ​ ​ 121,382 ​ ​ — Total ​ $ — ​ $ 146,419 ​ $ —
Schedule of carrying amounts and fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at September 30, 2020, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 110,593 ​ $ 1,353 ​ $ 109,240 ​ $ — ​ $ 110,593 Securities available-for-sale ​ ​ 110,421 ​ ​ — ​ ​ 110,421 ​ ​ — ​ ​ 110,421 Securities, restricted, at cost ​ ​ 2,694 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans, net ​ ​ 624,110 ​ ​ — ​ ​ — ​ ​ 622,132 ​ ​ 622,132 Accrued interest receivable ​ ​ 4,339 ​ ​ — ​ ​ 285 ​ ​ 4,054 ​ ​ 4,339 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 4,308 ​ ​ — ​ ​ 4,320 ​ ​ — ​ ​ 4,320 Demand and other deposits ​ ​ 741,202 ​ ​ 741,202 ​ ​ — ​ ​ — ​ ​ 741,202 Secured borrowings ​ ​ 84 ​ ​ — ​ ​ 84 ​ ​ — ​ ​ 84 Accrued interest payable ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at December 31, 2019, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 61,806 ​ $ 669 ​ $ 61,007 ​ $ — ​ $ 61,676 Securities available-for-sale ​ ​ 146,419 ​ ​ — ​ ​ 146,419 ​ ​ — ​ ​ 146,419 Securities, restricted, at cost ​ ​ 2,665 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans, net ​ ​ 558,380 ​ ​ — ​ ​ — ​ ​ 560,859 ​ ​ 560,859 Accrued interest receivable ​ ​ 3,242 ​ ​ — ​ ​ 386 ​ ​ 2,856 ​ ​ 3,242 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 19,746 ​ ​ — ​ ​ 19,763 ​ ​ — ​ ​ 19,763 Demand and other deposits ​ ​ 660,874 ​ ​ 660,874 ​ ​ — ​ ​ — ​ ​ 660,874 Secured borrowings ​ ​ 86 ​ ​ — ​ ​ 86 ​ ​ — ​ ​ 86 Accrued interest payable ​ ​ 12 ​ ​ — ​ ​ 12 ​ ​ — ​ ​ 12

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income
Schedule of changes in accumulated other comprehensive income (loss) by component, net of tax	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Unrealized Gains (Losses) on Available-for-Sale Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,899 ​ $ (80) ​ $ 386 ​ $ (2,614) Other comprehensive (loss) income before reclassifications, net of tax ​ ​ (246) ​ ​ 466 ​ ​ 1,267 ​ ​ 3,000 Amounts reclassified from accumulated other comprehensive income ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net current period other comprehensive (loss) income ​ ​ (246) ​ ​ 466 ​ ​ 1,267 ​ ​ 3,000 Ending balance ​ $ 1,653 ​ $ 386 ​ $ 1,653 ​ $ 386

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies (Details)	Nov. 06, 2020USD ($)item	Sep. 30, 2020USD ($)itemloan	Sep. 30, 2019item	Sep. 30, 2020USD ($)itemloan	Sep. 30, 2019item
Basis of Presentation and Summary of Significant Accounting Policies
Number of TDRs or charge offs | item		0	0	0	0
Payment deferral program
Basis of Presentation and Summary of Significant Accounting Policies
Number of delinquent loans | loan		0		0
Percentage decrease in loan modification amounts | $	$ 0.66
Payment deferral program | Covid 19
Basis of Presentation and Summary of Significant Accounting Policies
Number of loans modified | item	13	19		19
Loan modification amount | $	$ 11,506,000	$ 33,434,000		$ 33,434,000
1 - 4 Family Residential | Payment deferral program | Covid 19
Basis of Presentation and Summary of Significant Accounting Policies
Number of loans modified | item	1	3		3
Loan modification amount | $	$ 3,015,000	$ 14,149,000		$ 14,149,000
Commercial | Payment deferral program | Covid 19
Basis of Presentation and Summary of Significant Accounting Policies
Number of loans modified | item	1	1		1
Loan modification amount | $	$ 2,954,000	$ 2,954,000		$ 2,954,000
Multifamily | Payment deferral program | Covid 19
Basis of Presentation and Summary of Significant Accounting Policies
Number of loans modified | item	1	4		4
Loan modification amount | $	$ 3,751,000	$ 6,988,000		$ 6,988,000
Commercial Real Estate | Payment deferral program | Covid 19
Basis of Presentation and Summary of Significant Accounting Policies
Number of loans modified | item	2	2		2
Loan modification amount | $	$ 1,759,000	$ 9,309,000		$ 9,309,000
Consumer | Payment deferral program | Covid 19
Basis of Presentation and Summary of Significant Accounting Policies
Number of loans modified | item	8	9		9
Loan modification amount | $	$ 27,000	$ 34,000		$ 34,000

Securities - Summary of reconci

Securities - Summary of reconciliation of amortized cost to fair value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 108,109	$ 145,879
Gross Unrealized Gains	2,341	975
Gross Unrealized Losses	(29)	(435)
Fair Value	110,421	146,419
Mortgage-backed securities - agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	30,403	24,603
Gross Unrealized Gains	1,214	524
Gross Unrealized Losses		(90)
Fair Value	31,617	25,037
CMO's - agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	77,706	121,276
Gross Unrealized Gains	1,127	451
Gross Unrealized Losses	(29)	(345)
Fair Value	$ 78,804	$ 121,382

Securities - Summary of amortiz

Securities - Summary of amortized cost and fair value of debt securities by contractual maturity (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Sales or calls of securities	$ 0	$ 0
Federal Home Loan Bank Advances
Debt Securities, Available-for-sale [Line Items]
Short-term debt	0	0	$ 0
Federal Reserve Bank Advances
Debt Securities, Available-for-sale [Line Items]
Short-term debt	$ 0	$ 0	$ 0

Securities - Summary of securit

Securities - Summary of securities in unrealized loss position (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 8,615	$ 20,639
Gross Unrealized Losses, Less than 12 Months	(14)	(66)
Fair Value, 12 Months or Longer	2,492	31,824
Gross Unrealized Losses, 12 Months or Longer	(15)	(369)
Fair Value, Total	11,107	52,463
Gross Unrealized Losses, Total	(29)	(435)
Mortgage-backed securities - agency
Debt Securities, Available-for-sale [Line Items]
Fair Value, 12 Months or Longer		9,529
Gross Unrealized Losses, 12 Months or Longer		(90)
Fair Value, Total		9,529
Gross Unrealized Losses, Total		(90)
CMO's - agency
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	8,615	20,639
Gross Unrealized Losses, Less than 12 Months	(14)	(66)
Fair Value, 12 Months or Longer	2,492	22,295
Gross Unrealized Losses, 12 Months or Longer	(15)	(279)
Fair Value, Total	11,107	42,934
Gross Unrealized Losses, Total	$ (29)	$ (345)

Securities - Additional disclos

Securities - Additional disclosures (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair value of pledged securities	$ 2,694	$ 2,694	$ 2,665
Impairment charges	0	0
Federal Reserve Bank of New York (FRB)
Debt Securities, Available-for-sale [Line Items]
Fair value of pledged securities	21,000	21,000	23,600
Securities pledged borrowed amount	20,600	20,600	22,900
Federal Home Loan Bank of New York (FHLB)
Debt Securities, Available-for-sale [Line Items]
Fair value of pledged securities	86,100	86,100	122,800
Securities pledged borrowed amount	$ 82,400	$ 82,400	$ 116,700

Loans - Summary of loan composi

Loans - Summary of loan composition (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 635,817		$ 564,979
Deferred costs and unearned premiums, net	(150)		390
Allowance for loan losses	(11,557)	$ (10,676)	(6,989)	$ (6,741)	$ (6,433)	$ (5,629)
Net loans	624,110		558,380
Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	320,970		257,957
Real Estate | 1 - 4 Family Residential
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	48,925		48,140
Allowance for loan losses	(492)	(739)	(344)	(356)	(372)	(407)
Real Estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	168,743		152,633
Allowance for loan losses	(1,624)	(2,126)	(1,048)	(939)	(920)	(952)
Real Estate | Commercial Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	54,097		52,477
Allowance for loan losses	(734)	(982)	(560)	(529)	(406)	(357)
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans			6,450
Allowance for loan losses	0		(161)	(162)	(161)	(149)
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	320,970		257,957
Allowance for loan losses	(4,891)	(4,816)	(4,048)	(4,073)	(3,843)	(3,110)
Commercial | SBA paycheck protection program loans
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	21,900		0
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	43,082		47,322
Allowance for loan losses	$ (3,816)	$ (2,013)	$ (828)	$ (682)	$ (731)	$ (654)

Loans - Summary of activity in

Loans - Summary of activity in allowance for loan losses by class (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Allowance for loan losses:
Beginning balance	$ 10,676	$ 6,433	$ 6,989	$ 5,629
Provision (credit) for loan losses	900	425	4,700	1,250
Recoveries	0	0	0	0
Loans charged-off	(19)	(117)	(132)	(138)
Total ending allowance balance	11,557	6,741	11,557	6,741
Real Estate | 1 - 4 Family Residential
Allowance for loan losses:
Beginning balance	739	372	344	407
Provision (credit) for loan losses	(247)	(16)	148	(51)
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	492	356	492	356
Real Estate | Multifamily
Allowance for loan losses:
Beginning balance	2,126	920	1,048	952
Provision (credit) for loan losses	(502)	19	576	(13)
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	1,624	939	1,624	939
Real Estate | Commercial Real Estate
Allowance for loan losses:
Beginning balance	982	406	560	357
Provision (credit) for loan losses	(248)	123	174	172
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	734	529	734	529
Real Estate | Construction
Allowance for loan losses:
Beginning balance		161	161	149
Provision (credit) for loan losses		1	(161)	13
Recoveries	0	0	0	0
Loans charged-off	0	0	0	0
Total ending allowance balance	0	162	0	162
Commercial
Allowance for loan losses:
Beginning balance	4,816	3,843	4,048	3,110
Provision (credit) for loan losses	77	230	845	982
Recoveries	0	0	0	0
Loans charged-off	(2)	0	(2)	(19)
Total ending allowance balance	4,891	4,073	4,891	4,073
Consumer
Allowance for loan losses:
Beginning balance	2,013	731	828	654
Provision (credit) for loan losses	1,820	68	3,118	147
Recoveries	0	0	0	0
Loans charged-off	(17)	(117)	(130)	(119)
Total ending allowance balance	$ 3,816	$ 682	$ 3,816	$ 682

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) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$ 0		$ 0
Collectively evaluated for impairment	11,557		6,989
Total ending allowance balance	11,557	$ 10,676	6,989	$ 6,741	$ 6,433	$ 5,629
Loans:
Loans individually evaluated for impairment	1,779		1,476
Loans collectively evaluated for impairment	634,038		563,503
Total ending loans balance	635,817		564,979
Real Estate
Loans:
Total ending loans balance	320,970		257,957
Real Estate | 1 - 4 Family Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	492		344
Total ending allowance balance	492	739	344	356	372	407
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	48,925		48,140
Total ending loans balance	48,925		48,140
Real Estate | Multifamily
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	1,624		1,048
Total ending allowance balance	1,624	2,126	1,048	939	920	952
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	168,743		152,633
Total ending loans balance	168,743		152,633
Real Estate | Commercial Real Estate
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	734		560
Total ending allowance balance	734	982	560	529	406	357
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	54,097		52,477
Total ending loans balance	54,097		52,477
Real Estate | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment			161
Total ending allowance balance	0		161	162	161	149
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment			6,450
Total ending loans balance			6,450
Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	4,891		4,048
Total ending allowance balance	4,891	4,816	4,048	4,073	3,843	3,110
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	320,970		257,957
Total ending loans balance	320,970		257,957
Consumer
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	3,816		828
Total ending allowance balance	3,816	$ 2,013	828	$ 682	$ 731	$ 654
Loans:
Loans individually evaluated for impairment	1,779		1,476
Loans collectively evaluated for impairment	41,303		45,846
Total ending loans balance	$ 43,082		$ 47,322

Loans - Summary of impaired loa

Loans - Summary of impaired loans by segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 1,779		$ 1,779		$ 1,476
Unpaid Principal Balance	1,779		1,779		1,476
Average Recorded Investment	1,436	$ 717	1,210	$ 239
Non-performing loans	1,779		1,779		1,476
Consumer
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	1,436	$ 717	1,210	$ 239
Consumer
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,779		1,779		1,476
Unpaid Principal Balance	1,779		1,779		1,476
Non-performing loans	$ 1,779		$ 1,779		$ 1,476

Loans - Summary of loans by pas

Loans - Summary of loans by past due status (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans	$ 1,779	$ 1,476
Total Past Due	7,622	4,084
Loans Not Past Due	628,195	560,895
Total Loans	635,817	564,979
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6	0
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	2,608
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5,837	0
Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	320,970	257,957
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	48,925	48,140
Total Loans	48,925	48,140
Real Estate | 1 - 4 Family Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
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	5,837	2,602
Loans Not Past Due	162,906	150,031
Total Loans	168,743	152,633
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	2,602
Real Estate | Multifamily | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5,837	0
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans Not Past Due	54,097	52,477
Total Loans	54,097	52,477
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		6,450
Total Loans		6,450
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	320,970	257,957
Total Loans	320,970	257,957
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]
Nonaccrual Loans	1,779	1,476
Total Past Due	1,785	1,482
Loans Not Past Due	41,297	45,840
Total Loans	43,082	47,322
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6	0
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	6
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) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)item	Sep. 30, 2019item	Sep. 30, 2020USD ($)item	Sep. 30, 2019item	Dec. 31, 2019USD ($)item
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 635,817		$ 635,817		$ 564,979
Number of loans identified as troubled debt restructuring | item			0		0
Number of loans modified | item	0	0	0	0
Federal Reserve Bank of New York (FRB)
Financing Receivable, Recorded Investment [Line Items]
Loans pledged	$ 37,600		$ 37,600		$ 39,800
Maximum borrowing capacity	28,900		28,900		27,000
Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	626,292		626,292		559,963
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	7,631		7,631		3,415
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,894		1,894		1,601
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	320,970		320,970		257,957
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total Loans	48,925		48,925		48,140
Real Estate | 1 - 4 Family Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	48,925		48,925		48,140
Real Estate | 1 - 4 Family Residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | 1 - 4 Family Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | 1 - 4 Family Residential | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total Loans	168,743		168,743		152,633
Real Estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	162,906		162,906		152,633
Real Estate | Multifamily | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	5,837		5,837		0
Real Estate | Multifamily | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Multifamily | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	54,097		54,097		52,477
Real Estate | Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	54,097		54,097		52,477
Real Estate | Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans					6,450
Real Estate | Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans					6,450
Real Estate | Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Real Estate | Construction | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	320,970		320,970		257,957
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	320,855		320,855		257,832
Commercial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	115		115		125
Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0		0		0
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	43,082		43,082		47,322
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	39,509		39,509		42,431
Consumer | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,794		1,794		3,415
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,779		1,779		1,476
Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 0		$ 0		$ 0

Noninterest Income (Details)

Noninterest Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Noninterest income
Total non-interest income	$ 3,884	$ 3,475	$ 9,959	$ 8,647
Administrative service income
Noninterest income
Noninterest income	41	107	140	395
Merchant services income
Noninterest income
Noninterest income	3,551	3,124	9,023	7,585
ACH income
Noninterest income
Noninterest income	170	160	504	409
Other
Noninterest income
Noninterest income	$ 122	$ 84	$ 292	$ 258

Share-Based Payment Plans - Wei

Share-Based Payment Plans - Weighted average assumptions (Details)	9 Months Ended
	Sep. 30, 2020$ / shares
Share-Based Payment Plans
Risk-Free Interest Rate	0.47%
Expected Term	84 months
Expected Stock Price Volatility	49.30%
Dividend Yield	0.00%
Weighted Average Fair Value	$ 8.43

Share-Based Payment Plans - Sum

Share-Based Payment Plans - Summary of options activity (Details) - Stock Options - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Options
Outstanding at beginning of year		916,425
Granted	0	10,000	0
Exercised		(65,200)
Forfeited		(1,500)
Outstanding at period end		859,725
Vested or expected to vest		859,725
Exercisable at period end		750,362
Weighted Average Exercise Price
Outstanding at beginning of year		$ 13.56
Granted		17.06
Exercised		12.50
Forfeited		24.90
Outstanding at period end		13.66
Vested or expected to vest		13.66
Exercisable at period end		$ 13.02
Weighted Average Remaining Contractual Life (Years), outstanding at period end		5 years 7 months 28 days
Weighted Average Remaining Contractual Life (Years), vested or expected to vest		5 years 7 months 28 days
Weighted Average Remaining Contractual Life (Years), exercisable at period end		5 years 5 months 4 days

Share-Based Payment Plans - S_2

Share-Based Payment Plans - Summary of restricted stock activity (Details)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Weighted Average Grant Date Fair Value
Granted	$ 8.43
Restricted stock
Shares
Outstanding at beginning of year | shares	259,000
Vested or expected to vest | shares	0
Outstanding at period end | shares	259,000
Weighted Average Grant Date Fair Value
Outstanding at beginning of year	$ 23.81
Vested or expected to vest	0
Outstanding at period end	$ 23.81

Share-Based Payment Plans - Add

Share-Based Payment Plans - Additional disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested options	$ 428		$ 428
Intrinsic value of outstanding options	1,900		1,900
Proceeds from options exercised			$ 290	$ 50
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options issued		0	10,000	0
Contractual term of awards			10 years
Stock options expense	124	$ 129	$ 387	$ 392
Recognition period of nonvested stock options			1 year 6 months 3 days
Intrinsic value of options exercised		122	$ 878	163
Proceeds from options exercised			290	50
Tax benefit of options exercised		18	$ 77	23
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			6 years
Vesting percentage after years four, five and six			33.30%
Stock options expense	259	$ 140	$ 771	$ 417
Unrecognized compensation cost related to non-vested options	$ 4,600		$ 4,600
Recognition period of nonvested stock options			4 years 7 months 13 days

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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic
Net income	$ 3,606	$ 3,817	$ 8,736	$ 10,270
Weighted average common shares outstanding (in shares)	7,403,840	7,391,611	7,414,264	7,387,196
Basic earnings per share (in dollars per share)	$ 0.49	$ 0.52	$ 1.18	$ 1.39
Diluted
Weighted average shares outstanding for basic earnings per share	7,403,840	7,391,611	7,414,264	7,387,196
Add: Dilutive effects of share based awards	172,124	406,701	225,103	385,284
Average shares and dilutive potential common shares	7,575,964	7,798,312	7,639,367	7,772,480
Diluted earnings per share (in dollars per share)	$ 0.48	$ 0.49	$ 1.14	$ 1.32
Stock options and restricted shares not considered in computing diluted earnings per share because they were anti-dilutive	303,250	42,500	303,250	42,500

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases
ROU lease assets	$ 3,000	$ 2,700
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
lease liability	$ 3,598	$ 3,300
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities

Leases - Maturities of operatin

Leases - Maturities of operating lease (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Maturities of operating lease liabilities
2020	$ 159
2021	645
2022	644
2023	636
2024	652
Thereafter	1,295
Total lease payments	4,031
Less: interest	433
Present value of operating lease liabilities	$ 3,598	$ 3,300

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lease cost
Weighted-average remaining lease term	6 years 29 days	7 years 1 month 9 days	6 years 29 days	7 years 1 month 9 days
Weighted-average discount rate	3.05%	3.28%	3.05%	3.28%
Operating lease cost	$ 141	$ 120	$ 422	$ 359
Short-term Lease, Cost	14	15	52	41
Total lease cost	$ 155	$ 135	474	400
Cash paid for operating lease liability			$ 431	$ 301

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, 2020	Dec. 31, 2019	Sep. 30, 2019
Available-for-sale securities
Securities available-for-sale, at fair value	$ 110,421	$ 146,419
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	0		$ 0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	0		$ 0
Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	31,617	25,037
CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	78,804	121,382
(Level 1)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
(Level 2)
Available-for-sale securities
Securities available-for-sale, at fair value	110,421	146,419
(Level 3)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | (Level 1)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | (Level 1) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | (Level 1) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | (Level 2)
Available-for-sale securities
Securities available-for-sale, at fair value	110,421	146,419
Recurring | (Level 2) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	31,617	25,037
Recurring | (Level 2) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	78,804	121,382
Recurring | (Level 3)
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | (Level 3) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Recurring | (Level 3) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	0	0
Non-recurring
Available-for-sale securities
Assets	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financial Assets:
Securities available for sale	$ 110,421	$ 146,419
Securities, restricted, at cost	2,694	2,665
Loans, net of allowance	624,110	558,380
Accrued interest receivable	4,339	3,242
Financial Liabilities:
Time deposits	4,308	19,746
Secured borrowings	84	86
(Level 1)
Financial Assets:
Cash and cash equivalents	1,353	669
Securities available for sale	0	0
Loans, net of allowance	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Time deposits		0
Demand and other deposits	741,202	660,874
Secured borrowings	0	0
Accrued interest payable	0	0
(Level 2)
Financial Assets:
Cash and cash equivalents	109,240	61,007
Securities available for sale	110,421	146,419
Loans, net of allowance	0	0
Accrued interest receivable	285	386
Financial Liabilities:
Time deposits	4,320	19,763
Demand and other deposits	0	0
Secured borrowings	84	86
Accrued interest payable	0	12
(Level 3)
Financial Assets:
Cash and cash equivalents	0	0
Securities available for sale	0	0
Loans, net of allowance	622,132	560,859
Accrued interest receivable	4,054	2,856
Financial Liabilities:
Time deposits		0
Demand and other deposits	0	0
Secured borrowings	0	0
Accrued interest payable	0	0
Carrying Value
Financial Assets:
Cash and cash equivalents	110,593	61,806
Securities available for sale	110,421	146,419
Securities, restricted, at cost	2,694	2,665
Loans, net of allowance	624,110	558,380
Accrued interest receivable	4,339	3,242
Financial Liabilities:
Time deposits	4,308	19,746
Demand and other deposits	741,202	660,874
Secured borrowings	84	86
Accrued interest payable	0	12
Fair Value
Financial Assets:
Cash and cash equivalents	110,593	61,676
Securities available for sale	110,421	146,419
Loans, net of allowance	622,132	560,859
Accrued interest receivable	4,339	3,242
Financial Liabilities:
Time deposits	4,320	19,763
Demand and other deposits	741,202	660,874
Secured borrowings	84	86
Accrued interest payable	$ 0	$ 12

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of changes in accumulated other comprehensive income (loss) by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Unrealized Gains (Losses) on Available-for-Sale Securities
Beginning balance	$ 1,899	$ (80)	$ 386	$ (2,614)
Other comprehensive (loss) income before reclassifications, net of tax	(246)	466	1,267	3,000
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current period other comprehensive (loss) income	(246)	466	1,267	3,000
Ending balance	1,653	386	1,653	386
Reclassifications	$ 0	$ 0	$ 0	$ 0