Esquire Financial (ESQ) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 01, 2022
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
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	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,081,387
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Amendment Flag	false
Entity Central Index Key	0001531031

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 155,196	$ 149,156
Securities purchased under agreements to resell, at cost	49,031	50,271
Securities available-for-sale, at fair value	122,664	148,384
Securities held-to-maturity, at cost (fair value $71,636 at June 30, 2022)	76,282	0
Securities, restricted, at cost	2,810	2,680
Loans held for investment	859,330	784,517
Less: allowance for loan losses	(10,271)	(9,076)
Loans, net of allowance	849,059	775,441
Premises and equipment, net	3,010	3,334
Accrued interest receivable	4,694	4,197
Other assets	46,941	45,307
Total assets	1,309,687	1,178,770
Deposits:
Demand	513,131	409,350
Savings, NOW and money market	623,378	599,747
Time	18,981	19,312
Total deposits	1,155,490	1,028,409
Accrued expenses and other liabilities	8,670	6,626
Total liabilities	1,164,160	1,035,035
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.01; authorized 2,000,000 shares; none issued
Common stock, par value $0.01; authorized 15,000,000 shares; 8,116,568 and 8,123,152 shares issued, respectively; and 8,080,486 and 8,088,846 shares outstanding, respectively	81	81
Additional paid-in capital	94,923	93,611
Retained earnings	62,426	51,460
Accumulated other comprehensive loss	(11,277)	(850)
Treasury stock at cost, 36,082 and 34,306 shares, respectively	(626)	(567)
Total stockholders' equity	145,527	143,735
Total liabilities and stockholders' equity	$ 1,309,687	$ 1,178,770

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Securities held to maturity, fair value	$ 71,636
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
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	8,116,568	8,123,152
Common stock, shares outstanding	8,080,486	8,088,846
Treasury stock, shares	36,082	34,306

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income:
Loans	$ 12,423	$ 10,120	$ 23,443	$ 19,699
Securities	1,033	538	1,849	1,005
Securities purchased under agreements to resell	190	160	322	320
Interest earning deposits and other	309	42	366	83
Total interest income	13,955	10,860	25,980	21,107
Interest expense:
Savings, NOW and money market deposits	255	173	473	347
Time deposits	26	19	45	39
Borrowings	1	1	2	2
Total interest expense	282	193	520	388
Net interest income	13,673	10,667	25,460	20,719
Provision for loan losses	850	850	1,490	2,650
Net interest income after provision for loan losses	12,823	9,817	23,970	18,069
Noninterest income:
Total noninterest income	6,209	5,467	11,711	10,932
Noninterest expense:
Employee compensation and benefits	6,299	5,669	12,433	10,666
Occupancy and equipment	749	709	1,500	1,408
Professional and consulting services	847	804	1,458	1,579
FDIC and regulatory assessments	136	111	259	208
Advertising and marketing	404	315	629	647
Travel and business relations	134	69	224	108
Data processing	1,052	907	2,060	1,757
Other operating expenses	770	533	1,209	932
Total noninterest expense	10,391	9,117	19,772	17,305
Net income before income taxes	8,641	6,167	15,909	11,696
Income tax expense	2,290	1,665	4,216	3,020
Net income	$ 6,351	$ 4,502	$ 11,693	$ 8,676
Earnings per share
Basic (in dollars per share)	$ 0.83	$ 0.60	$ 1.53	$ 1.17
Diluted (in dollars per share)	$ 0.78	$ 0.57	$ 1.43	$ 1.10
Payment processing fees
Noninterest income:
Noninterest income	$ 5,513	$ 5,351	$ 10,829	$ 10,721
Customer related fees, service charges and other
Noninterest income:
Noninterest income	$ 696	$ 116	$ 882	$ 211

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 6,351	$ 4,502	$ 11,693	$ 8,676
Other comprehensive (loss) income:
Unrealized losses arising during the period on securities available-for-sale	(5,839)	560	(14,364)	(1,518)
Tax effect	1,606	(160)	3,937	433
Total other comprehensive loss	(4,233)	400	(10,427)	(1,085)
Total comprehensive (loss) income	$ 2,118	$ 4,902	$ 1,266	$ 7,591

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive (loss) income.	Treasury stock	Total
Balance at Dec. 31, 2020	$ 78	$ 91,622	$ 33,535	$ 1,408	$ (567)	$ 126,076
Balance (in shares) at Dec. 31, 2020	7,793,482
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			8,676			8,676
Other comprehensive loss				(1,085)		(1,085)
Exercise of stock options, net of repurchases	$ 1	20				21
Exercise of stock options, net of repurchases (in shares)	37,222
Stock compensation expense		982				982
Balance at Jun. 30, 2021	$ 79	92,624	42,211	323	(567)	134,670
Balance (in shares) at Jun. 30, 2021	7,830,704
Balance at Mar. 31, 2021	$ 79	92,122	37,709	(77)	(567)	129,266
Balance (in shares) at Mar. 31, 2021	7,829,815
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			4,502			4,502
Other comprehensive loss				400		400
Exercise of stock options, net of repurchases		11				11
Exercise of stock options, net of repurchases (in shares)	889
Stock compensation expense		491				491
Balance at Jun. 30, 2021	$ 79	92,624	42,211	323	(567)	134,670
Balance (in shares) at Jun. 30, 2021	7,830,704
Balance at Dec. 31, 2021	$ 81	93,611	51,460	(850)	(567)	143,735
Balance (in shares) at Dec. 31, 2021	8,088,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			11,693			11,693
Other comprehensive loss				(10,427)		(10,427)
Restricted stock award forfeitures (in shares)	(13,750)
Cash dividends paid to common stockholders ($0.09 per share)			727			727
Exercise of stock options, net of repurchases		171				171
Exercise of stock options, net of repurchases (in shares)	7,166
Vested restricted stock awards settlement					(59)	(59)
Vested restricted stock awards settlement (in shares)	(1,776)
Stock compensation expense		1,141				1,141
Balance at Jun. 30, 2022	$ 81	94,923	62,426	(11,277)	(626)	145,527
Balance (in shares) at Jun. 30, 2022	8,080,486
Balance at Mar. 31, 2022	$ 81	94,172	56,802	(7,044)	(626)	143,385
Balance (in shares) at Mar. 31, 2022	8,076,320
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			6,351			6,351
Other comprehensive loss				(4,233)		(4,233)
Restricted stock award forfeitures (in shares)	7,166
Cash dividends paid to common stockholders ($0.09 per share)			727			727
Exercise of stock options, net of repurchases		171				171
Restricted stock grants (in shares)	(3,000)
Stock compensation expense		580				580
Balance at Jun. 30, 2022	$ 81	$ 94,923	$ 62,426	$ (11,277)	$ (626)	$ 145,527
Balance (in shares) at Jun. 30, 2022	8,080,486

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Repurchase of shares		40,468
Cash dividends (per share)	$ 0.09

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 11,693	$ 8,676
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	1,490	2,650
Depreciation	359	332
Stock compensation expense	1,141	982
Gain on loans held for sale	(88)
Net amortization (accretion):
Securities	276	458
Loans	(427)	(466)
Right of use asset	239	298
Software	601	502
Changes in other assets and liabilities:
Accrued interest receivable	(497)	49
Other assets	1,578	681
Operating lease liability	(285)	(267)
Accrued expenses and other liabilities	2,418	2,429
Net cash provided by operating activities	18,498	16,324
Cash flows from investing activities:
Net change in loans	(74,681)	(34,525)
Net change in securities purchased under agreements to resell	1,240	353
Purchases of securities available-for-sale	(1,739)	(43,793)
Purchases of securities held-to-maturity	(78,325)
Principal repayments on securities available-for-sale	12,862	33,172
Principal repayments on securities held-to-maturity	1,999
Redemption (purchase) of securities, restricted	(130)	14
Payments on loans held for sale	600
Purchases of premises and equipment	(35)	(246)
Development of capitalized software	(714)	(1,376)
Net cash used in investing activities	(138,923)	(46,401)
Cash flows from financing activities:
Net increase in deposits	127,081	110,607
Decrease in borrowings	(1)
Exercise of stock options	171	21
Tax withholding payments for vested equity awards	(59)
Cash dividends paid to common stockholders	727
Net cash provided by financing activities	126,465	110,628
(Decrease) increase in cash and cash equivalents	6,040	80,551
Cash and cash equivalents at beginning of the period	149,156	65,185
Cash and cash equivalents at end of the period	155,196	145,736
Cash paid during the period for:
Interest	518	388
Taxes	2,979	$ 4,650
Noncash transactions:
Transfer from loans held for investment to held for sale	$ 13,500

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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, 2021 and 2020. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 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. 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 second quarter 2022 Consolidated Statement of Financial Condition and Consolidated Statement of Income. Subsequent Events The Company has evaluated events for recognition and disclosure through the date of issuance. Investment in Variable Interest Entity On April 1, 2022, the Company sold its legacy NFL consumer post-settlement loan portfolio to a variable interest entity (VIE) in exchange for a nonvoting interest valued at $13.5 million where the Company will remain as servicer of the loan portfolio at the discretion of the VIE manager. The Company’s investment is considered a significant variable interest, but it does not have the power to direct the activities that most significantly impact the VIE’s economic performance. Therefore, the Company is not considered the primary beneficiary of this VIE and does not consolidate the entity in the Company’s financial statements. The Company’s maximum exposure to loss is limited to the carrying amount of its investment and accounted for under the equity method which is presented within other assets on the Consolidated Statement of Financial Condition. 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. Loans Held for Sale Loans held for sale are accounted for at lower of cost or fair value. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale is included with Other assets on the Consolidated Statement of Financial Condition. New Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 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 will be effective for a smaller reporting company on January 1, 2023. The Company plans to adopt ASU 2016-13 on 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. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional expedients and exceptions for accounting related to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. ASU 2020-04 was effective upon issuance and generally can be applied through December 31, 2022. Adoption of the standard is not expected to have a material impact on the Company’s operating results or financial condition. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments — Credit Losses (Topic 326): Troubled Debt Restructuring and Vintage Disclosures”. ASU 2022-02 eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, “Receivables — Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments in this ASU require that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASU 326-20, “Financial Instruments — Credit Losses: Measured at Amortized Cost”. The Company is in the process of evaluating the ASU in conjunction with its adoption of CECL on January 1, 2023.

Debt Securities

Debt Securities	6 Months Ended
	Jun. 30, 2022
Debt Securities
Debt Securities	NOTE 2 — Debt Securities The following tables summarize the amortized cost and fair value of securities available-for-sale and securities held-to-maturity and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss and gross unrecognized gains and losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 116,845 ​ $ — ​ $ (13,872) ​ $ 102,973 Collateralized mortgage obligations (CMOs) – agency ​ ​ 21,373 ​ ​ — ​ ​ (1,682) ​ ​ 19,691 Total available-for-sale ​ $ 138,218 ​ $ — ​ $ (15,554) ​ $ 122,664 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ Fair ​ ​ Cost Gains Losses Value ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateralized mortgage obligations (CMOs) – agency ​ $ 76,282 ​ $ — ​ $ (4,646) ​ $ 71,636 Total held-to-maturity ​ $ 76,282 ​ $ — ​ $ (4,646) ​ $ 71,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost Gains Losses Value ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 122,258 ​ $ 673 ​ $ (2,050) ​ $ 120,881 Collateralized mortgage obligations (CMOs) – agency ​ ​ 27,316 ​ ​ 237 ​ ​ (50) ​ ​ 27,503 Total available-for-sale ​ $ 149,574 ​ $ 910 ​ $ (2,100) ​ $ 148,384 ​ As of December 31, 2021, there were no securities held-to-maturity. 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 six months ended June 30, 2022 and 2021. At June 30, 2022, securities having a carrying value of $143.4 million were pledged to the Federal Home Loan Bank of New York (FHLB) for borrowing capacity totaling $136.2 million. At December 31, 2021, securities having a fair value of $121.5 million were pledged to the FHLB for borrowing capacity totaling $115.4 million. At June 30, 2022 and December 31, 2021, the Company had no outstanding FHLB advances. At June 30, 2022, securities having a fair value of $41.1 million were pledged to the Federal Reserve Bank of New York (FRB) for borrowing capacity totaling $39.6 million. At December 31, 2021, securities having a fair value of $26.9 million were pledged to the FRB for borrowing capacity totaling $26.1 million. At June 30, 2022 and December 31, 2021, the Company had no outstanding FRB borrowings. The following table provides the gross unrealized and unrecognized losses and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized or unrecognized loss position as of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 66,668 ​ $ (7,288) ​ $ 36,305 ​ $ (6,584) ​ $ 102,973 ​ $ (13,872) CMOs – agency ​ ​ 18,673 ​ ​ (1,596) ​ ​ 1,018 ​ ​ (86) ​ ​ 19,691 ​ ​ (1,682) Total temporarily impaired securities ​ $ 85,341 ​ $ (8,884) ​ $ 37,323 ​ $ (6,670) ​ $ 122,664 ​ $ (15,554) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Fair Value Gross Unrecognized Losses Fair Value Gross Unrecognized Losses Fair Value Gross Unrecognized Losses ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CMOs – agency ​ $ 71,636 ​ $ (4,646) ​ $ — ​ $ — ​ $ 71,636 ​ $ (4,646) Total temporarily impaired securities ​ $ 71,636 ​ $ (4,646) ​ $ — ​ $ — ​ $ 71,636 ​ $ (4,646) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ ​ Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities - agency ​ $ 101,235 ​ $ (1,813) ​ $ 4,503 ​ $ (237) ​ $ 105,738 ​ $ (2,050) CMOs - Agency ​ ​ 7,416 ​ ​ (50) ​ ​ — ​ ​ — ​ ​ 7,416 ​ ​ (50) Total temporarily impaired securities ​ $ 108,651 ​ $ (1,863) ​ $ 4,503 ​ $ (237) ​ $ 113,154 ​ $ (2,100) ​ 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 June 30, 2022, securities in unrealized or unrecognized 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 June 30, 2022. No impairment charges were recorded for the three and six months ended June 30, 2022 and 2021.

Loans

Loans	6 Months Ended
	Jun. 30, 2022
Loans
Loans	NOTE 3 — Loans The composition of loans by class is summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, ​ At December 31, ​ ​ 2022 ​ 2021 ​ ​ (In thousands) Real estate: ​ ​ ​ Multifamily ​ $ 259,579 ​ $ 254,852 Commercial real estate ​ 80,488 ​ 48,589 1 – 4 family ​ ​ 33,565 ​ ​ 40,753 Construction ​ — ​ — Total real estate ​ 373,632 ​ 344,194 Commercial ​ 478,149 ​ 432,108 Consumer ​ 8,327 ​ 8,681 Total loans held for investment ​ $ 860,108 ​ $ 784,983 Deferred loan fees and unearned premiums, net ​ (778) ​ (466) Allowance for loan losses ​ (10,271) ​ (9,076) Loans held for investment, net ​ $ 849,059 ​ $ 775,441 ​ At December 31, 2021, the commercial loans balance included Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loans of $4.2 million. There were no PPP loans outstanding at June 30, 2022. The following tables present the activity in the allowance for loan losses by class for the three months ending June 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,864 ​ $ 688 ​ $ 231 ​ $ — ​ $ 6,575 ​ $ 133 ​ $ 9,491 Provision for loan losses ​ ​ 35 ​ ​ 214 ​ ​ 22 ​ ​ — ​ ​ 534 ​ ​ 45 ​ ​ 850 Recoveries ​ ​ 17 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 17 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (64) ​ ​ (23) ​ ​ (87) Total ending allowance balance ​ $ 1,916 ​ $ 902 ​ $ 253 ​ $ — ​ $ 7,045 ​ $ 155 ​ $ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,525 ​ $ 613 ​ $ 319 ​ $ — ​ $ 5,756 ​ $ 4,968 ​ $ 13,181 Provision (credit) for loan losses ​ ​ (107) ​ ​ (10) ​ ​ (7) ​ ​ — ​ ​ (209) ​ ​ 1,183 ​ ​ 850 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (14) ​ ​ (14) Total ending allowance balance ​ $ 1,418 ​ $ 603 ​ $ 312 ​ $ — ​ $ 5,547 ​ $ 6,137 ​ $ 14,017 ​ ​ The following tables present the activity in the allowance for loan losses by class for the six months ending June 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,789 ​ $ 552 ​ $ 285 ​ $ — ​ $ 6,319 ​ $ 131 ​ $ 9,076 Provision (credit) for loan losses ​ ​ 288 ​ ​ 350 ​ ​ (32) ​ ​ — ​ ​ 788 ​ ​ 96 ​ ​ 1,490 Recoveries ​ ​ 17 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 19 Loans charged-off ​ ​ (178) ​ ​ — ​ ​ — ​ ​ — ​ ​ (64) ​ ​ (72) ​ ​ (314) Total ending allowance balance ​ $ 1,916 ​ $ 902 ​ $ 253 ​ $ — ​ $ 7,045 ​ $ 155 ​ $ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,278 ​ $ 597 ​ $ 342 ​ $ — ​ $ 5,003 ​ $ 4,182 ​ $ 11,402 Provision (credit) for loan losses ​ ​ 140 ​ ​ 6 ​ ​ (30) ​ ​ — ​ ​ 544 ​ ​ 1,990 ​ ​ 2,650 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (35) ​ ​ (35) Total ending allowance balance ​ $ 1,418 ​ $ 603 ​ $ 312 ​ $ — ​ $ 5,547 ​ $ 6,137 ​ $ 14,017 ​ ​ ​ 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 June 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 1,916 ​ 902 ​ 253 ​ — ​ 7,045 ​ 155 ​ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 1,916 ​ $ 902 ​ $ 253 ​ $ — ​ $ 7,045 ​ $ 155 ​ $ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Loans collectively evaluated for impairment ​ 259,579 ​ 80,488 ​ 33,565 ​ — ​ 478,149 ​ 8,327 ​ 860,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 259,579 ​ $ 80,488 ​ $ 33,565 ​ $ — ​ $ 478,149 ​ $ 8,327 ​ $ 860,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) December 31, 2021 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 1,789 ​ 552 ​ 285 ​ — ​ 6,319 ​ 131 ​ 9,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 1,789 ​ $ 552 ​ $ 285 ​ $ — ​ $ 6,319 ​ $ 131 ​ $ 9,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Loans collectively evaluated for impairment ​ 254,852 ​ 48,589 ​ 40,753 ​ — ​ 432,108 ​ 8,681 ​ 784,983 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 254,852 ​ $ 48,589 ​ $ 40,753 ​ $ — ​ $ 432,108 ​ $ 8,681 ​ $ 784,983 ​ Recorded investment is not adjusted for accrued interest, deferred fees and costs, and unearned premiums and discounts. ​ There were no impaired loans as of June 30, 2022 and December 31, 2021. The following table provides an analysis of average recorded investment and interest income recognized by segment on impaired loans during the three and six months ended June 30, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, ​ For the Six Months Ended June 30, ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ ​ 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) Multifamily ​ $ — ​ $ — ​ $ 361 ​ $ — ​ $ 294 ​ $ — ​ $ 206 ​ $ — Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 1-4 family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 65 ​ ​ — ​ ​ — ​ ​ — ​ ​ 37 ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ — ​ ​ — ​ ​ 2,271 ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 2,285 ​ ​ — Total ​ $ 65 ​ $ — ​ $ 2,632 ​ $ — ​ $ 332 ​ $ — ​ $ 2,491 ​ $ — ​ The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 259,579 ​ ​ 259,579 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 80,488 ​ ​ 80,488 1 – 4 family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 33,565 ​ $ 33,565 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 478,149 ​ ​ 478,149 Consumer ​ ​ 19 ​ ​ 16 ​ ​ — ​ ​ 4 ​ ​ 39 ​ ​ 8,288 ​ ​ 8,327 Total ​ $ 19 ​ $ 16 ​ $ — ​ $ 4 ​ $ 39 ​ $ 860,069 ​ $ 860,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ 1,034 ​ $ — ​ $ — ​ $ — ​ $ 1,034 ​ $ 253,818 ​ $ 254,852 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 48,589 ​ ​ 48,589 1 – 4 family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 40,753 ​ ​ 40,753 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 432,108 ​ ​ 432,108 Consumer ​ ​ 21 ​ ​ 10 ​ ​ — ​ ​ 6 ​ ​ 37 ​ ​ 8,644 ​ ​ 8,681 Total ​ $ 1,055 ​ $ 10 ​ $ — ​ $ 6 ​ $ 1,071 ​ $ 783,912 ​ $ 784,983 ​ 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) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ 255,467 ​ $ 3,391 ​ $ 721 ​ $ — Commercial real estate ​ ​ 76,670 ​ ​ 3,818 ​ ​ — ​ ​ — 1 – 4 family ​ ​ 33,565 ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 464,711 ​ ​ 13,438 ​ ​ — ​ ​ — Consumer ​ ​ 6,439 ​ ​ 1,888 ​ ​ — ​ ​ — Total ​ $ 836,852 ​ $ 22,535 ​ $ 721 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful ​ ​ (In thousands) December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ 254,131 ​ $ — ​ $ 721 ​ $ — Commercial real estate ​ ​ 44,771 ​ ​ 3,818 ​ ​ — ​ ​ — 1 – 4 family ​ ​ 37,738 ​ ​ 3,015 ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 410,548 ​ ​ 17,977 ​ ​ 3,583 ​ ​ — Consumer ​ ​ 8,681 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 755,869 ​ $ 24,810 ​ $ 4,304 ​ $ — ​ 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 June 30, 2022 and December 31, 2021. Furthermore, there were no loans modified during the three and six months ended June 30, 2022 and 2021 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. Pledged Loans At June 30, 2022, loans totaling $27.4 million were pledged to the Federal Home Loan Bank of New York for borrowing capacity totaling $21.0 million. At December 31, 2021, loans totaling $33.9 million were pledged to the Federal Home Loan Bank of New York for borrowing capacity totaling $26.0 million.

Noninterest Income

Noninterest Income	6 Months Ended
	Jun. 30, 2022
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 June 30, ​ For the Six Months Ended June 30, ​ 2022 2021 2022 2021 ​ ​ (In thousands) Payment processing fees ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payment processing income ​ $ 5,300 ​ $ 5,151 ​ $ 10,401 ​ $ 10,318 ACH income ​ ​ 213 ​ ​ 200 ​ ​ 428 ​ ​ 403 Customer related fees, service charges and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative service income ​ ​ 617 ​ ​ 10 ​ ​ 626 ​ ​ 28 Other ​ ​ 81 ​ ​ 106 ​ ​ 168 ​ ​ 183 (Loss) gain on loans held for sale (1) ​ ​ (2) ​ ​ — ​ ​ 88 ​ ​ — Total noninterest income ​ $ 6,209 ​ $ 5,467 ​ $ 11,711 ​ $ 10,932 ​ (1) Represents a valuation adjustment on loans held for sale, not within the scope of ASC 606. 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. ● Payment processing income – We provide payment processing 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. ● 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. ● 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	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022 and 2021. The following table presents a summary of the activity related to options as of June 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ Exercise ​ Contractual ​ Options Price Life (Years) June 30, 2022 ​ Outstanding at beginning of year 649,600 ​ $ 16.66 Granted — ​ — Exercised (7,166) ​ 23.96 Forfeited (10,768) ​ 23.56 Expired — ​ — Outstanding at period end 631,666 ​ $ 16.46 5.03 Vested or expected to vest 631,666 ​ $ 16.46 5.03 Exercisable at period end 525,198 ​ $ 14.30 4.21 ​ The Company recognized compensation expense related to options of $112 thousand and $130 thousand for the three months ended June 30, 2022 and 2021, respectively. The Company recognized compensation expense related to options of $236 thousand and $264 thousand for the six months ended June 30, 2022 and 2021, respectively. At June 30, 2022, unrecognized compensation cost related to nonvested options was approximately $940 thousand and is expected to be recognized over a weighted average period of 2.11 years. The intrinsic value for outstanding options and for options vested or expected to vest was $10.6 million and $10.0 million for exercisable options at June 30, 2022. ​ Information related to stock option exercises during each period is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Six Months Ended ​ ​ June 30, ​ June 30, ​ 2022 2021 2022 2021 ​ ​ (In thousands) Intrinsic value of options exercised ​ $ 80 ​ $ 10 ​ $ 80 ​ $ 871 Cash received from option exercises ​ ​ 171 ​ ​ 11 ​ ​ 171 ​ ​ 21 Excess tax benefit from option exercises ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 166 ​ The following table presents a summary of the activity related to restricted stock as of June 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ Shares ​ Fair Value June 30, 2022 ​ ​ ​ ​ ​ Outstanding at beginning of year 482,750 $ 24.59 Granted — ​ ​ — Vested (20,497) ​ ​ 19.25 Forfeited (13,750) ​ ​ 24.31 Outstanding at period end 448,503 $ 24.85 ​ The Company recognized compensation expense related to restricted stock of $468 thousand and $361 thousand for the three months ended June 30, 2022 and 2021, respectively. The Company recognized compensation expense related to restricted stock of $905 thousand and $718 thousand for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, there was $7.3 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 4.25

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2022
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 Six Months Ended ​ ​ June 30, ​ June 30, ​ 2022 2021 2022 2021 ​ ​ (Dollars in thousands, except per share data) Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 6,351 ​ $ 4,502 ​ $ 11,693 ​ $ 8,676 Weighted average shares outstanding ​ ​ 7,628,872 ​ ​ 7,449,075 ​ ​ 7,624,580 ​ ​ 7,437,670 Basic earnings per share ​ $ 0.83 ​ $ 0.60 ​ $ 1.53 ​ $ 1.17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 6,351 ​ $ 4,502 ​ $ 11,693 ​ $ 8,676 Weighted average shares outstanding for basic earnings per share ​ ​ 7,628,872 ​ ​ 7,449,075 ​ ​ 7,624,580 ​ ​ 7,437,670 Add: Dilutive effects of share based awards ​ ​ 555,540 ​ ​ 436,946 ​ ​ 541,387 ​ ​ 428,542 Average shares and dilutive potential shares ​ ​ 8,184,412 ​ ​ 7,886,021 ​ ​ 8,165,967 ​ ​ 7,866,212 Diluted earnings per share ​ $ 0.78 ​ $ 0.57 ​ $ 1.43 ​ $ 1.10 ​ Share-based awards totaling 65,050 and 107,849 shares of common stock were not considered in computing diluted earnings per common share for the three months ended June 30, 2022 and June 30, 2021, respectively, because they were anti-dilutive. Share-based awards totaling 67,100 and 117,849 shares of common stock were not considered in computing diluted earnings per common share for the six months ended June 30, 2022 and June 30, 2021, respectively, because they were anti-dilutive.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases
Leases	NOTE 7 — Leases 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. As of June 30, 2022, right of use (“ROU”) lease assets liabilities assets liabilities Maturities of the Company’s operating lease liabilities at June 30, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ ​ ​ Liabilities ​ ​ ​ (In thousands) 2022 ​ $ 313 2023 ​ 636 2024 ​ 652 2025 ​ 668 2026 ​ 627 Thereafter ​ — Total operating lease payments ​ $ 2,896 Less: interest ​ ​ 193 Present value of operating lease liabilities ​ $ 2,703 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ ​ ​ 2022 ​ 2021 ​ Weighted-average remaining lease term ​ ​ 4.42 years ​ 5.35 years Weighted-average discount rate ​ ​ 3.08 % ​ 3.07 % ​ The components of total lease cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ ​ For the Six Months Ended ​ June 30, ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ (In thousands) Operating lease cost ​ $ 142 ​ $ 142 ​ ​ $ 283 ​ $ 284 Short-term lease cost ​ ​ — ​ ​ 13 ​ ​ ​ — ​ ​ 13 Total lease cost ​ $ 142 ​ $ 155 ​ ​ $ 283 ​ $ 297 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for operating leases ​ $ 164 ​ $ 173 ​ ​ $ 327 ​ $ 332 ​

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
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 In Active Markets For Identical Assets ​ Significant Other Observable Inputs ​ Significant Unobservable Inputs ​ (Level 1) (Level 2) (Level 3) ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 102,973 ​ $ — CMOs – agency ​ ​ — ​ ​ 19,691 ​ ​ — Total ​ $ — ​ $ 122,664 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 120,881 ​ $ — CMOs – agency ​ ​ — ​ ​ 27,503 ​ ​ — Total ​ $ — ​ $ 148,384 ​ $ — ​ There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2022 and 2021. There were no assets at fair value measured on a nonrecurring basis at June 30, 2022. The legacy NFL consumer loan portfolio was measured on a nonrecurring basis and assigned a Level 3 fair value of $14.1 million at December 31, 2021. ​ The following tables present the carrying amounts and fair values (represents exit price) of financial instruments not carried at fair value at June 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at June 30, 2022, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 155,196 ​ $ 1,539 ​ $ 153,657 ​ $ — ​ $ 155,196 Securities purchased under agreements to resell, at cost ​ ​ 49,031 ​ ​ — ​ ​ — ​ ​ 49,031 ​ ​ 49,031 Securities, held-to-maturity ​ ​ 76,282 ​ ​ — ​ ​ 71,636 ​ ​ — ​ ​ 71,636 Securities, restricted, at cost ​ ​ 2,810 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans held for investment, net ​ ​ 849,059 ​ ​ — ​ ​ — ​ ​ 842,213 ​ ​ 842,213 Accrued interest receivable ​ ​ 4,694 ​ ​ — ​ ​ 231 ​ ​ 4,277 ​ ​ 4,508 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 18,981 ​ ​ — ​ ​ 18,889 ​ ​ — ​ ​ 18,889 Demand and other deposits ​ ​ 1,136,509 ​ ​ 1,136,509 ​ ​ — ​ ​ — ​ ​ 1,136,509 Secured borrowings ​ ​ 47 ​ ​ — ​ ​ 47 ​ ​ — ​ ​ 47 Accrued interest payable ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at December 31, 2021, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 149,156 ​ $ 2,202 ​ $ 146,954 ​ $ — ​ $ 149,156 Securities purchased under agreements to resell, at cost ​ ​ 50,271 ​ ​ — ​ ​ — ​ ​ 50,271 ​ ​ 50,271 Securities, restricted, at cost ​ ​ 2,680 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans held for investment, net ​ ​ 775,441 ​ ​ — ​ ​ — ​ ​ 774,114 ​ ​ 774,114 Accrued interest receivable ​ ​ 4,197 ​ ​ — ​ ​ 252 ​ ​ 3,945 ​ ​ 4,197 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 19,312 ​ ​ — ​ ​ 19,330 ​ ​ — ​ ​ 19,330 Demand and other deposits ​ ​ 1,009,097 ​ ​ 1,009,097 ​ ​ — ​ ​ — ​ ​ 1,009,097 Secured borrowings ​ ​ 48 ​ ​ — ​ ​ 48 ​ ​ — ​ ​ 48 Accrued interest payable ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income	NOTE 9 — Accumulated Other Comprehensive (Loss) Income The following presents changes in accumulated other comprehensive (loss) income by component, net of tax, for the three and six months ending June 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ 2022 2021 2022 2021 ​ ​ (In thousands) Unrealized (Losses) Gains on Available-for-Sale Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ (7,044) ​ $ (77) ​ $ (850) ​ $ 1,408 Other comprehensive (loss) income before reclassifications, net of tax ​ ​ (4,233) ​ ​ 400 ​ ​ (10,427) ​ ​ (1,085) Amounts reclassified from accumulated other comprehensive income ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net current period other comprehensive (loss) income ​ ​ (4,233) ​ ​ 400 ​ ​ (10,427) ​ ​ (1,085) Ending balance ​ $ (11,277) ​ $ 323 ​ $ (11,277) ​ $ 323 ​ There were no reclassifications out of accumulated other comprehensive (loss) income for the three and six months ended June 30, 2022 and 2021.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2021 and 2020. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 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. 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 second quarter 2022 Consolidated Statement of Financial Condition and Consolidated Statement of Income.
Subsequent Events	Subsequent Events The Company has evaluated events for recognition and disclosure through the date of issuance.
Investment in Variable Interest Entity	Investment in Variable Interest Entity On April 1, 2022, the Company sold its legacy NFL consumer post-settlement loan portfolio to a variable interest entity (VIE) in exchange for a nonvoting interest valued at $13.5 million where the Company will remain as servicer of the loan portfolio at the discretion of the VIE manager. The Company’s investment is considered a significant variable interest, but it does not have the power to direct the activities that most significantly impact the VIE’s economic performance. Therefore, the Company is not considered the primary beneficiary of this VIE and does not consolidate the entity in the Company’s financial statements. The Company’s maximum exposure to loss is limited to the carrying amount of its investment and accounted for under the equity method which is presented within other assets on the Consolidated Statement of Financial Condition.
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.
Loans Held for Sale	Loans Held for Sale Loans held for sale are accounted for at lower of cost or fair value. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loans held for sale is included with Other assets on the Consolidated Statement of Financial Condition.
New Accounting Pronouncements	New Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 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 will be effective for a smaller reporting company on January 1, 2023. The Company plans to adopt ASU 2016-13 on 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. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional expedients and exceptions for accounting related to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. ASU 2020-04 was effective upon issuance and generally can be applied through December 31, 2022. Adoption of the standard is not expected to have a material impact on the Company’s operating results or financial condition. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments — Credit Losses (Topic 326): Troubled Debt Restructuring and Vintage Disclosures”. ASU 2022-02 eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, “Receivables — Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments in this ASU require that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASU 326-20, “Financial Instruments — Credit Losses: Measured at Amortized Cost”. The Company is in the process of evaluating the ASU in conjunction with its adoption of CECL on January 1, 2023.

Debt Securities (Tables)

Debt Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Securities
Schedule of amortized cost, gross unrealized gains and losses and estimated fair value of securities available-for-sale and held to maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 116,845 ​ $ — ​ $ (13,872) ​ $ 102,973 Collateralized mortgage obligations (CMOs) – agency ​ ​ 21,373 ​ ​ — ​ ​ (1,682) ​ ​ 19,691 Total available-for-sale ​ $ 138,218 ​ $ — ​ $ (15,554) ​ $ 122,664 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ Fair ​ ​ Cost Gains Losses Value ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateralized mortgage obligations (CMOs) – agency ​ $ 76,282 ​ $ — ​ $ (4,646) ​ $ 71,636 Total held-to-maturity ​ $ 76,282 ​ $ — ​ $ (4,646) ​ $ 71,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost Gains Losses Value ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 122,258 ​ $ 673 ​ $ (2,050) ​ $ 120,881 Collateralized mortgage obligations (CMOs) – agency ​ ​ 27,316 ​ ​ 237 ​ ​ (50) ​ ​ 27,503 Total available-for-sale ​ $ 149,574 ​ $ 910 ​ $ (2,100) ​ $ 148,384
Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ 66,668 ​ $ (7,288) ​ $ 36,305 ​ $ (6,584) ​ $ 102,973 ​ $ (13,872) CMOs – agency ​ ​ 18,673 ​ ​ (1,596) ​ ​ 1,018 ​ ​ (86) ​ ​ 19,691 ​ ​ (1,682) Total temporarily impaired securities ​ $ 85,341 ​ $ (8,884) ​ $ 37,323 ​ $ (6,670) ​ $ 122,664 ​ $ (15,554) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Fair Value Gross Unrecognized Losses Fair Value Gross Unrecognized Losses Fair Value Gross Unrecognized Losses ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CMOs – agency ​ $ 71,636 ​ $ (4,646) ​ $ — ​ $ — ​ $ 71,636 ​ $ (4,646) Total temporarily impaired securities ​ $ 71,636 ​ $ (4,646) ​ $ — ​ $ — ​ $ 71,636 ​ $ (4,646) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ ​ Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses ​ ​ (In thousands) Securities available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities - agency ​ $ 101,235 ​ $ (1,813) ​ $ 4,503 ​ $ (237) ​ $ 105,738 ​ $ (2,050) CMOs - Agency ​ ​ 7,416 ​ ​ (50) ​ ​ — ​ ​ — ​ ​ 7,416 ​ ​ (50) Total temporarily impaired securities ​ $ 108,651 ​ $ (1,863) ​ $ 4,503 ​ $ (237) ​ $ 113,154 ​ $ (2,100)

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2022
Loans
Schedule of composition of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, ​ At December 31, ​ ​ 2022 ​ 2021 ​ ​ (In thousands) Real estate: ​ ​ ​ Multifamily ​ $ 259,579 ​ $ 254,852 Commercial real estate ​ 80,488 ​ 48,589 1 – 4 family ​ ​ 33,565 ​ ​ 40,753 Construction ​ — ​ — Total real estate ​ 373,632 ​ 344,194 Commercial ​ 478,149 ​ 432,108 Consumer ​ 8,327 ​ 8,681 Total loans held for investment ​ $ 860,108 ​ $ 784,983 Deferred loan fees and unearned premiums, net ​ (778) ​ (466) Allowance for loan losses ​ (10,271) ​ (9,076) Loans held for investment, net ​ $ 849,059 ​ $ 775,441
Schedule of activity in allowance for loan losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,864 ​ $ 688 ​ $ 231 ​ $ — ​ $ 6,575 ​ $ 133 ​ $ 9,491 Provision for loan losses ​ ​ 35 ​ ​ 214 ​ ​ 22 ​ ​ — ​ ​ 534 ​ ​ 45 ​ ​ 850 Recoveries ​ ​ 17 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 17 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (64) ​ ​ (23) ​ ​ (87) Total ending allowance balance ​ $ 1,916 ​ $ 902 ​ $ 253 ​ $ — ​ $ 7,045 ​ $ 155 ​ $ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,525 ​ $ 613 ​ $ 319 ​ $ — ​ $ 5,756 ​ $ 4,968 ​ $ 13,181 Provision (credit) for loan losses ​ ​ (107) ​ ​ (10) ​ ​ (7) ​ ​ — ​ ​ (209) ​ ​ 1,183 ​ ​ 850 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (14) ​ ​ (14) Total ending allowance balance ​ $ 1,418 ​ $ 603 ​ $ 312 ​ $ — ​ $ 5,547 ​ $ 6,137 ​ $ 14,017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,789 ​ $ 552 ​ $ 285 ​ $ — ​ $ 6,319 ​ $ 131 ​ $ 9,076 Provision (credit) for loan losses ​ ​ 288 ​ ​ 350 ​ ​ (32) ​ ​ — ​ ​ 788 ​ ​ 96 ​ ​ 1,490 Recoveries ​ ​ 17 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 19 Loans charged-off ​ ​ (178) ​ ​ — ​ ​ — ​ ​ — ​ ​ (64) ​ ​ (72) ​ ​ (314) Total ending allowance balance ​ $ 1,916 ​ $ 902 ​ $ 253 ​ $ — ​ $ 7,045 ​ $ 155 ​ $ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,278 ​ $ 597 ​ $ 342 ​ $ — ​ $ 5,003 ​ $ 4,182 ​ $ 11,402 Provision (credit) for loan losses ​ ​ 140 ​ ​ 6 ​ ​ (30) ​ ​ — ​ ​ 544 ​ ​ 1,990 ​ ​ 2,650 Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (35) ​ ​ (35) Total ending allowance balance ​ $ 1,418 ​ $ 603 ​ $ 312 ​ $ — ​ $ 5,547 ​ $ 6,137 ​ $ 14,017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 1,916 ​ 902 ​ 253 ​ — ​ 7,045 ​ 155 ​ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 1,916 ​ $ 902 ​ $ 253 ​ $ — ​ $ 7,045 ​ $ 155 ​ $ 10,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Loans collectively evaluated for impairment ​ 259,579 ​ 80,488 ​ 33,565 ​ — ​ 478,149 ​ 8,327 ​ 860,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 259,579 ​ $ 80,488 ​ $ 33,565 ​ $ — ​ $ 478,149 ​ $ 8,327 ​ $ 860,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ Real Estate ​ 1 ‑ 4 Family ​ Construction ​ Commercial ​ Consumer ​ Total ​ ​ (In thousands) December 31, 2021 ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ 1,789 ​ 552 ​ 285 ​ — ​ 6,319 ​ 131 ​ 9,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending allowance balance ​ $ 1,789 ​ $ 552 ​ $ 285 ​ $ — ​ $ 6,319 ​ $ 131 ​ $ 9,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Loans individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Loans collectively evaluated for impairment ​ 254,852 ​ 48,589 ​ 40,753 ​ — ​ 432,108 ​ 8,681 ​ 784,983 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ending loans balance ​ $ 254,852 ​ $ 48,589 ​ $ 40,753 ​ $ — ​ $ 432,108 ​ $ 8,681 ​ $ 784,983
Schedule of impaired loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, ​ For the Six Months Ended June 30, ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ ​ 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) Multifamily ​ $ — ​ $ — ​ $ 361 ​ $ — ​ $ 294 ​ $ — ​ $ 206 ​ $ — Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — 1-4 family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 65 ​ ​ — ​ ​ — ​ ​ — ​ ​ 37 ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ — ​ ​ — ​ ​ 2,271 ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 2,285 ​ ​ — Total ​ $ 65 ​ $ — ​ $ 2,632 ​ $ — ​ $ 332 ​ $ — ​ $ 2,491 ​ $ —
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) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 259,579 ​ ​ 259,579 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 80,488 ​ ​ 80,488 1 – 4 family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 33,565 ​ $ 33,565 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 478,149 ​ ​ 478,149 Consumer ​ ​ 19 ​ ​ 16 ​ ​ — ​ ​ 4 ​ ​ 39 ​ ​ 8,288 ​ ​ 8,327 Total ​ $ 19 ​ $ 16 ​ $ — ​ $ 4 ​ $ 39 ​ $ 860,069 ​ $ 860,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ 1,034 ​ $ — ​ $ — ​ $ — ​ $ 1,034 ​ $ 253,818 ​ $ 254,852 Commercial real estate ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 48,589 ​ ​ 48,589 1 – 4 family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 40,753 ​ ​ 40,753 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 432,108 ​ ​ 432,108 Consumer ​ ​ 21 ​ ​ 10 ​ ​ — ​ ​ 6 ​ ​ 37 ​ ​ 8,644 ​ ​ 8,681 Total ​ $ 1,055 ​ $ 10 ​ $ — ​ $ 6 ​ $ 1,071 ​ $ 783,912 ​ $ 784,983
Schedule of risk category of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ 255,467 ​ $ 3,391 ​ $ 721 ​ $ — Commercial real estate ​ ​ 76,670 ​ ​ 3,818 ​ ​ — ​ ​ — 1 – 4 family ​ ​ 33,565 ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 464,711 ​ ​ 13,438 ​ ​ — ​ ​ — Consumer ​ ​ 6,439 ​ ​ 1,888 ​ ​ — ​ ​ — Total ​ $ 836,852 ​ $ 22,535 ​ $ 721 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful ​ ​ (In thousands) December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multifamily ​ $ 254,131 ​ $ — ​ $ 721 ​ $ — Commercial real estate ​ ​ 44,771 ​ ​ 3,818 ​ ​ — ​ ​ — 1 – 4 family ​ ​ 37,738 ​ ​ 3,015 ​ ​ — ​ ​ — Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 410,548 ​ ​ 17,977 ​ ​ 3,583 ​ ​ — Consumer ​ ​ 8,681 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 755,869 ​ $ 24,810 ​ $ 4,304 ​ $ —

Noninterest Income (Tables)

Noninterest Income (Tables)	6 Months Ended
	Jun. 30, 2022
Noninterest Income.
Schedule of Consolidated of Income as components of noninterest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, ​ For the Six Months Ended June 30, ​ 2022 2021 2022 2021 ​ ​ (In thousands) Payment processing fees ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payment processing income ​ $ 5,300 ​ $ 5,151 ​ $ 10,401 ​ $ 10,318 ACH income ​ ​ 213 ​ ​ 200 ​ ​ 428 ​ ​ 403 Customer related fees, service charges and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative service income ​ ​ 617 ​ ​ 10 ​ ​ 626 ​ ​ 28 Other ​ ​ 81 ​ ​ 106 ​ ​ 168 ​ ​ 183 (Loss) gain on loans held for sale (1) ​ ​ (2) ​ ​ — ​ ​ 88 ​ ​ — Total noninterest income ​ $ 6,209 ​ $ 5,467 ​ $ 11,711 ​ $ 10,932 ​ (1) Represents a valuation adjustment on loans held for sale, not within the scope of ASC 606.

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Plans
Schedule of option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ Exercise ​ Contractual ​ Options Price Life (Years) June 30, 2022 ​ Outstanding at beginning of year 649,600 ​ $ 16.66 Granted — ​ — Exercised (7,166) ​ 23.96 Forfeited (10,768) ​ 23.56 Expired — ​ — Outstanding at period end 631,666 ​ $ 16.46 5.03 Vested or expected to vest 631,666 ​ $ 16.46 5.03 Exercisable at period end 525,198 ​ $ 14.30 4.21
Schedule of information related to stock option exercises	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Six Months Ended ​ ​ June 30, ​ June 30, ​ 2022 2021 2022 2021 ​ ​ (In thousands) Intrinsic value of options exercised ​ $ 80 ​ $ 10 ​ $ 80 ​ $ 871 Cash received from option exercises ​ ​ 171 ​ ​ 11 ​ ​ 171 ​ ​ 21 Excess tax benefit from option exercises ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 166
Schedule of activity related to restricted stock	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ Shares ​ Fair Value June 30, 2022 ​ ​ ​ ​ ​ Outstanding at beginning of year 482,750 $ 24.59 Granted — ​ ​ — Vested (20,497) ​ ​ 19.25 Forfeited (13,750) ​ ​ 24.31 Outstanding at period end 448,503 $ 24.85

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings per Share
Schedule of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ For the Six Months Ended ​ ​ June 30, ​ June 30, ​ 2022 2021 2022 2021 ​ ​ (Dollars in thousands, except per share data) Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 6,351 ​ $ 4,502 ​ $ 11,693 ​ $ 8,676 Weighted average shares outstanding ​ ​ 7,628,872 ​ ​ 7,449,075 ​ ​ 7,624,580 ​ ​ 7,437,670 Basic earnings per share ​ $ 0.83 ​ $ 0.60 ​ $ 1.53 ​ $ 1.17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 6,351 ​ $ 4,502 ​ $ 11,693 ​ $ 8,676 Weighted average shares outstanding for basic earnings per share ​ ​ 7,628,872 ​ ​ 7,449,075 ​ ​ 7,624,580 ​ ​ 7,437,670 Add: Dilutive effects of share based awards ​ ​ 555,540 ​ ​ 436,946 ​ ​ 541,387 ​ ​ 428,542 Average shares and dilutive potential shares ​ ​ 8,184,412 ​ ​ 7,886,021 ​ ​ 8,165,967 ​ ​ 7,866,212 Diluted earnings per share ​ $ 0.78 ​ $ 0.57 ​ $ 1.43 ​ $ 1.10

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases
Schedule of maturities of operating lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ Operating Lease ​ ​ ​ Liabilities ​ ​ ​ (In thousands) 2022 ​ $ 313 2023 ​ 636 2024 ​ 652 2025 ​ 668 2026 ​ 627 Thereafter ​ — Total operating lease payments ​ $ 2,896 Less: interest ​ ​ 193 Present value of operating lease liabilities ​ $ 2,703
Schedule of lease assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ ​ ​ 2022 ​ 2021 ​ Weighted-average remaining lease term ​ ​ 4.42 years ​ 5.35 years Weighted-average discount rate ​ ​ 3.08 % ​ 3.07 %
Schedule of lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ ​ For the Six Months Ended ​ June 30, ​ ​ 2022 ​ 2021 ​ ​ 2022 ​ 2021 ​ ​ (In thousands) Operating lease cost ​ $ 142 ​ $ 142 ​ ​ $ 283 ​ $ 284 Short-term lease cost ​ ​ — ​ ​ 13 ​ ​ ​ — ​ ​ 13 Total lease cost ​ $ 142 ​ $ 155 ​ ​ $ 283 ​ $ 297 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for operating leases ​ $ 164 ​ $ 173 ​ ​ $ 327 ​ $ 332

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Measurements
Schedule of assets measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ ​ Quoted Prices In Active Markets For Identical Assets ​ Significant Other Observable Inputs ​ Significant Unobservable Inputs ​ (Level 1) (Level 2) (Level 3) ​ ​ (In thousands) June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 102,973 ​ $ — CMOs – agency ​ ​ — ​ ​ 19,691 ​ ​ — Total ​ $ — ​ $ 122,664 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities – agency ​ $ — ​ $ 120,881 ​ $ — CMOs – agency ​ ​ — ​ ​ 27,503 ​ ​ — Total ​ $ — ​ $ 148,384 ​ $ —
Schedule of carrying amounts and fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at June 30, 2022, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 155,196 ​ $ 1,539 ​ $ 153,657 ​ $ — ​ $ 155,196 Securities purchased under agreements to resell, at cost ​ ​ 49,031 ​ ​ — ​ ​ — ​ ​ 49,031 ​ ​ 49,031 Securities, held-to-maturity ​ ​ 76,282 ​ ​ — ​ ​ 71,636 ​ ​ — ​ ​ 71,636 Securities, restricted, at cost ​ ​ 2,810 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans held for investment, net ​ ​ 849,059 ​ ​ — ​ ​ — ​ ​ 842,213 ​ ​ 842,213 Accrued interest receivable ​ ​ 4,694 ​ ​ — ​ ​ 231 ​ ​ 4,277 ​ ​ 4,508 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 18,981 ​ ​ — ​ ​ 18,889 ​ ​ — ​ ​ 18,889 Demand and other deposits ​ ​ 1,136,509 ​ ​ 1,136,509 ​ ​ — ​ ​ — ​ ​ 1,136,509 Secured borrowings ​ ​ 47 ​ ​ — ​ ​ 47 ​ ​ — ​ ​ 47 Accrued interest payable ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at December 31, 2021, Using: ​ ​ Carrying ​ ​ ​ ​ ​ ​ Value (Level 1) (Level 2) (Level 3) Total ​ ​ (In thousands) Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 149,156 ​ $ 2,202 ​ $ 146,954 ​ $ — ​ $ 149,156 Securities purchased under agreements to resell, at cost ​ ​ 50,271 ​ ​ — ​ ​ — ​ ​ 50,271 ​ ​ 50,271 Securities, restricted, at cost ​ ​ 2,680 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Loans held for investment, net ​ ​ 775,441 ​ ​ — ​ ​ — ​ ​ 774,114 ​ ​ 774,114 Accrued interest receivable ​ ​ 4,197 ​ ​ — ​ ​ 252 ​ ​ 3,945 ​ ​ 4,197 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits ​ ​ 19,312 ​ ​ — ​ ​ 19,330 ​ ​ — ​ ​ 19,330 Demand and other deposits ​ ​ 1,009,097 ​ ​ 1,009,097 ​ ​ — ​ ​ — ​ ​ 1,009,097 Secured borrowings ​ ​ 48 ​ ​ — ​ ​ 48 ​ ​ — ​ ​ 48 Accrued interest payable ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive (Loss) Income
Schedule of changes in accumulated other comprehensive (loss) income by component, net of tax	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ 2022 2021 2022 2021 ​ ​ (In thousands) Unrealized (Losses) Gains on Available-for-Sale Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ (7,044) ​ $ (77) ​ $ (850) ​ $ 1,408 Other comprehensive (loss) income before reclassifications, net of tax ​ ​ (4,233) ​ ​ 400 ​ ​ (10,427) ​ ​ (1,085) Amounts reclassified from accumulated other comprehensive income ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net current period other comprehensive (loss) income ​ ​ (4,233) ​ ​ 400 ​ ​ (10,427) ​ ​ (1,085) Ending balance ​ $ (11,277) ​ $ 323 ​ $ (11,277) ​ $ 323

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies (Details) $ in Millions	Apr. 01, 2022 USD ($)
Accounting Policies [Line Items]
Non-Voting Economic Interest Acquired on Sale of Loan Portfolio	$ 13.5
Non-voting economic interest	$ 13.5

Debt Securities - Summary of re

Debt Securities - Summary of reconciliation of amortized cost to fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 138,218	$ 149,574
Gross Unrealized Gains	0	910
Gross Unrealized Losses	(15,554)	(2,100)
Fair Value	122,664	148,384
Mortgage-backed securities - agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	116,845	122,258
Gross Unrealized Gains	0	673
Gross Unrealized Losses	(13,872)	(2,050)
Fair Value	102,973	120,881
CMO's - agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	21,373	27,316
Gross Unrealized Gains	0	237
Gross Unrealized Losses	(1,682)	(50)
Fair Value	$ 19,691	$ 27,503

Debt Securities - Summary of _2

Debt Securities - Summary of reconciliation of amortized cost to fair value for Held to maturity securities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 76,282	$ 0
Gross Unrecognized Gains	0
Gross Unrecognized Losses	(4,646)
Fair Value	71,636
CMO's - agency
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	76,282
Gross Unrecognized Gains	0
Gross Unrecognized Losses	(4,646)
Fair Value	$ 71,636

Debt Securities - Summary of se

Debt Securities - Summary of securities in unrealized loss position (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 85,341	$ 108,651
Gross Unrealized Losses, Less than 12 Months	(8,884)	(1,863)
Fair Value, 12 Months or Longer	37,323	4,503
Gross Unrealized Losses, 12 Months or Longer	(6,670)	(237)
Fair Value, Total	122,664	113,154
Gross Unrealized Losses, Total	(15,554)	(2,100)
Mortgage-backed securities - agency
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	66,668	101,235
Gross Unrealized Losses, Less than 12 Months	(7,288)	(1,813)
Fair Value, 12 Months or Longer	36,305	4,503
Gross Unrealized Losses, 12 Months or Longer	(6,584)	(237)
Fair Value, Total	102,973	105,738
Gross Unrealized Losses, Total	(13,872)	(2,050)
CMO's - agency
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	18,673	7,416
Gross Unrealized Losses, Less than 12 Months	(1,596)	(50)
Fair Value, 12 Months or Longer	1,018
Gross Unrealized Losses, 12 Months or Longer	(86)
Fair Value, Total	19,691	7,416
Gross Unrealized Losses, Total	$ (1,682)	$ (50)

Summary of securities in unreal

Summary of securities in unrealized loss position, held to maturity securities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Fair Value, Less than 12 Months	$ 71,636
Gross Unrecognized Losses, Less than 12 Months	(4,646)
Fair Value, Total	71,636
Gross Unrecognized Losses, Total	(4,646)
CMO's - agency
Schedule of Held-to-maturity Securities [Line Items]
Fair Value, Less than 12 Months	71,636
Gross Unrecognized Losses, Less than 12 Months	(4,646)
Fair Value, Total	71,636
Gross Unrecognized Losses, Total	$ (4,646)

Debt Securities - Additional di

Debt Securities - Additional disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Sales or calls of securities	$ 0	$ 0	$ 0	$ 0
Fair value of pledged securities	2,810		2,810		$ 2,680
Impairment charges	0	$ 0	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
Federal Reserve Bank of New York (FRB)
Debt Securities, Available-for-sale [Line Items]
Fair value of pledged securities	41,100		41,100		26,900
Securities pledged borrowed amount	39,600		39,600		26,100
Federal Home Loan Bank of New York (FHLB)
Debt Securities, Available-for-sale [Line Items]
Fair value of pledged securities	143,400		143,400		121,500
Securities pledged borrowed amount	$ 136,200		$ 136,200		$ 115,400

Loans - Summary of loan composi

Loans - Summary of loan composition (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	$ 860,108		$ 784,983
Deferred loan fees and unearned premiums, net	(778)		(466)
Allowance for loan losses	(10,271)	$ (9,491)	(9,076)	$ (14,017)	$ (13,181)	$ (11,402)
Loans held for investment, net	849,059		775,441
Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	373,632		344,194
Real Estate | 1 - 4 Family Residential
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	33,565		40,753
Allowance for loan losses	(253)	(231)	(285)	(312)	(319)	(342)
Real Estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	259,579		254,852
Allowance for loan losses	(1,916)	(1,864)	(1,789)	(1,418)	(1,525)	(1,278)
Real Estate | Commercial Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	80,488		48,589
Allowance for loan losses	(902)	(688)	(552)	(603)	(613)	(597)
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	478,149		432,108
Allowance for loan losses	(7,045)	(6,575)	(6,319)	(5,547)	(5,756)	(5,003)
Commercial | SBA paycheck protection program loans
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	0		4,200
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	8,327		8,681
Allowance for loan losses	$ (155)	$ (133)	$ (131)	$ (6,137)	$ (4,968)	$ (4,182)

Loans - Summary of activity in

Loans - Summary of activity in allowance for loan losses by class (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance for loan losses:
Beginning balance	$ 9,491	$ 13,181	$ 9,076	$ 11,402
Provision (credit) for loan losses	850	850	1,490	2,650
Recoveries	17	0	19
Loans charged-off	(87)	(14)	(314)	(35)
Total ending allowance balance	10,271	14,017	10,271	14,017
Real Estate | 1 - 4 Family Residential
Allowance for loan losses:
Beginning balance	231	319	285	342
Provision (credit) for loan losses	22	(7)	(32)	(30)
Recoveries	0	0
Loans charged-off	0	0
Total ending allowance balance	253	312	253	312
Real Estate | Multifamily
Allowance for loan losses:
Beginning balance	1,864	1,525	1,789	1,278
Provision (credit) for loan losses	35	(107)	288	140
Recoveries	17	0	17
Loans charged-off	0	0	(178)
Total ending allowance balance	1,916	1,418	1,916	1,418
Real Estate | Commercial Real Estate
Allowance for loan losses:
Beginning balance	688	613	552	597
Provision (credit) for loan losses	214	(10)	350	6
Recoveries	0	0
Loans charged-off	0	0
Total ending allowance balance	902	603	902	603
Real Estate | Construction
Allowance for loan losses:
Recoveries	0	0
Loans charged-off	0	0
Commercial
Allowance for loan losses:
Beginning balance	6,575	5,756	6,319	5,003
Provision (credit) for loan losses	534	(209)	788	544
Recoveries	0	0	2
Loans charged-off	(64)	0	(64)
Total ending allowance balance	7,045	5,547	7,045	5,547
Consumer
Allowance for loan losses:
Beginning balance	133	4,968	131	4,182
Provision (credit) for loan losses	45	1,183	96	1,990
Recoveries	0	0
Loans charged-off	(23)	(14)	(72)	(35)
Total ending allowance balance	$ 155	$ 6,137	$ 155	$ 6,137

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	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$ 0		$ 0
Collectively evaluated for impairment	10,271		9,076
Total ending allowance balance	10,271	$ 9,491	9,076	$ 14,017	$ 13,181	$ 11,402
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	860,108		784,983
Total ending loans balance	860,108		784,983
Real Estate
Loans:
Total ending loans balance	373,632		344,194
Real Estate | 1 - 4 Family Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	253		285
Total ending allowance balance	253	231	285	312	319	342
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	33,565		40,753
Total ending loans balance	33,565		40,753
Real Estate | Multifamily
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	1,916		1,789
Total ending allowance balance	1,916	1,864	1,789	1,418	1,525	1,278
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	259,579		254,852
Total ending loans balance	259,579		254,852
Real Estate | Commercial Real Estate
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	902		552
Total ending allowance balance	902	688	552	603	613	597
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	80,488		48,589
Total ending loans balance	80,488		48,589
Real Estate | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Loans:
Loans individually evaluated for impairment	0		0
Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	7,045		6,319
Total ending allowance balance	7,045	6,575	6,319	5,547	5,756	5,003
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	478,149		432,108
Total ending loans balance	478,149		432,108
Consumer
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	155		131
Total ending allowance balance	155	$ 133	131	$ 6,137	$ 4,968	$ 4,182
Loans:
Loans individually evaluated for impairment	0		0
Loans collectively evaluated for impairment	8,327		8,681
Total ending loans balance	$ 8,327		$ 8,681

Loans - Summary of impaired loa

Loans - Summary of impaired loans by segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	$ 65	$ 2,632	$ 332	$ 2,491
1 - 4 Family Residential
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		361	294	206
Construction
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	$ 65		37
Consumer
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		$ 2,271	$ 1	$ 2,285

Loans - Summary of loans by pas

Loans - Summary of loans by past due status (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans	$ 4	$ 6
Total Past Due & Nonaccrual Loans	39	1,071
Loans Not Past Due	860,069	783,912
Total loans held for investment	860,108	784,983
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	19	1,055
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	16	10
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans held for investment	373,632	344,194
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Loans Not Past Due	33,565	40,753
Total loans held for investment	33,565	40,753
Real Estate | 1 - 4 Family Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | 1 - 4 Family Residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	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 & Nonaccrual Loans	0	0
Real Estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	1,034
Loans Not Past Due	259,579	253,818
Total loans held for investment	259,579	254,852
Real Estate | Multifamily | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	1,034
Real Estate | Multifamily | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Multifamily | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Loans Not Past Due	80,488	48,589
Total loans held for investment	80,488	48,589
Real Estate | Commercial Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Commercial Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Commercial Real Estate | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Construction | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Construction | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Real Estate | Construction | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Loans Not Past Due	478,149	432,108
Total loans held for investment	478,149	432,108
Commercial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Commercial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Commercial | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	0	0
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans	4	6
Total Past Due & Nonaccrual Loans	39	37
Loans Not Past Due	8,288	8,644
Total loans held for investment	8,327	8,681
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	19	21
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	16	10
Consumer | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	$ 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		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 item	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 item	Dec. 31, 2021 USD ($) item
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 860,108		$ 860,108		$ 784,983
Number of loans identified as troubled debt restructuring | item			0		0
Number of loans modified | item	0	0	0	0
Federal Reserve Bank Advances
Financing Receivable, Recorded Investment [Line Items]
Loans pledged	$ 27,400		$ 27,400		$ 33,900
Federal Reserve Bank of New York (FRB)
Financing Receivable, Recorded Investment [Line Items]
Maximum borrowing capacity	21,000		21,000		26,000
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	836,852		836,852		755,869
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	22,535		22,535		24,810
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	721		721		4,304
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	373,632		373,632		344,194
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	33,565		33,565		40,753
Real Estate | 1 - 4 Family Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	33,565		33,565		37,738
Real Estate | 1 - 4 Family Residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		3,015
Real Estate | 1 - 4 Family Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | 1 - 4 Family Residential | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	259,579		259,579		254,852
Real Estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	255,467		255,467		254,131
Real Estate | Multifamily | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,391		3,391		0
Real Estate | Multifamily | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	721		721		721
Real Estate | Multifamily | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	80,488		80,488		48,589
Real Estate | Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	76,670		76,670		44,771
Real Estate | Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,818		3,818		3,818
Real Estate | Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Real Estate | Construction | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	478,149		478,149		432,108
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	464,711		464,711		410,548
Commercial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	13,438		13,438		17,977
Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		3,583
Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	8,327		8,327		8,681
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,439		6,439		8,681
Consumer | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,888		1,888		0
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0		0		0
Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 0		$ 0		$ 0

Noninterest Income (Details)

Noninterest Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Noninterest income
Gain on loans held for sale	$ (2)		$ 88
Total non-interest income	6,209	$ 5,467	11,711	$ 10,932
Payment processing income
Noninterest income
Noninterest income	5,300	5,151	10,401	10,318
ACH income
Noninterest income
Noninterest income	213	200	428	403
Administrative service income
Noninterest income
Noninterest income	617	10	626	28
Other
Noninterest income
Noninterest income	$ 81	$ 106	$ 168	$ 183

Share-Based Payment Plans - (De

Share-Based Payment Plans - (Details)	6 Months Ended
	Jun. 30, 2022
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term of awards	10 years
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%

Share-Based Payment Plans - Sum

Share-Based Payment Plans - Summary of options activity (Details) - Stock Options - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Options
Outstanding at beginning of year			649,600
Granted	0	0	0	0
Exercised			(7,166)
Forfeited			(10,768)
Outstanding at period end	631,666		631,666
Vested or expected to vest	631,666		631,666
Exercisable at period end	525,198		525,198
Weighted Average Exercise Price
Outstanding at beginning of year			$ 16.66
Granted			0
Exercised			23.96
Forfeited			23.56
Outstanding at period end	$ 16.46		16.46
Vested or expected to vest	16.46		16.46
Exercisable at period end	$ 14.30		$ 14.30
Weighted Average Remaining Contractual Life (Years), outstanding at period end			5 years 10 days
Weighted Average Remaining Contractual Life (Years), vested or expected to vest			5 years 10 days
Weighted Average Remaining Contractual Life (Years), exercisable at period end			4 years 2 months 15 days

Share-Based Payment Plans - S_2

Share-Based Payment Plans - Summary of restricted stock activity (Details) - Restricted stock	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Shares
Outstanding at beginning of year | shares	482,750
Vested | shares	(20,497)
Forfeited | shares	(13,750)
Outstanding at period end | shares	448,503
Weighted Average Grant Date Fair Value
Outstanding at beginning of year | $ / shares	$ 24.59
Vested | $ / shares	19.25
Forfeited | $ / shares	24.31
Outstanding at period end | $ / shares	$ 24.85

Share-Based Payment Plans - Add

Share-Based Payment Plans - Additional disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from option exercises			$ 171	$ 21
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options issued	0	0	0	0
Stock options expense	$ 112	$ 130	$ 236	$ 264
Unrecognized compensation cost related to non-vested options	940,000		$ 940,000
Recognition period of nonvested stock options			2 years 1 month 9 days
Intrinsic value of outstanding options	10,600		$ 10,600
Intrinsic value of exercisable options	10,000		10,000
Intrinsic value of options exercised	80	10	80	871
Cash received from option exercises	171	11	171	21
Excess tax benefit from option exercises		2		166
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	468	$ 361	905	$ 718
Unrecognized compensation cost related to non-vested options	$ 7,300		$ 7,300
Recognition period of nonvested stock options			4 years 5 months 23 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic
Net income	$ 6,351	$ 4,502	$ 11,693	$ 8,676
Weighted average shares outstanding for basic earnings per share	7,628,872	7,449,075	7,624,580	7,437,670
Basic earnings per share (in dollars per share)	$ 0.83	$ 0.60	$ 1.53	$ 1.17
Diluted
Net income	$ 6,351	$ 4,502	$ 11,693	$ 8,676
Weighted average shares outstanding for basic earnings per share	7,628,872	7,449,075	7,624,580	7,437,670
Add: Dilutive effects of share based awards	555,540	436,946	541,387	428,542
Average shares and dilutive potential shares	8,184,412	7,886,021	8,165,967	7,866,212
Diluted earnings per share (in dollars per share)	$ 0.78	$ 0.57	$ 1.43	$ 1.10
Stock options and restricted shares not considered in computing diluted earnings per share because they were anti-dilutive	65,050	107,849	67,100	117,849

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases
ROU lease assets	$ 2,100	$ 2,400
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
lease liability	$ 2,703	$ 3,000
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	Jun. 30, 2022	Dec. 31, 2021
Maturities of operating lease liabilities
2022	$ 313
2023	636
2024	652
2025	668
2026	627
Total lease payments	2,896
Less: interest	193
Present value of operating lease liabilities	$ 2,703	$ 3,000

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lease cost
Weighted-average remaining lease term	4 years 5 months 1 day	5 years 4 months 6 days	4 years 5 months 1 day	5 years 4 months 6 days
Weighted-average discount rate	3.08%	3.07%	3.08%	3.07%
Operating lease cost	$ 142	$ 142	$ 283	$ 284
Short-term Lease, Cost		13		13
Total lease cost	142	155	283	297
Cash paid for operating lease liability	$ 164	$ 173	$ 327	$ 332

Fair Value Measurements - Summa

Fair Value Measurements - Summary of assets and liabilities measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Available-for-sale securities
Securities available-for-sale, at fair value	$ 122,664	$ 148,384
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	102,973	120,881
CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	19,691	27,503
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	122,664	148,384
Recurring | (Level 2) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	102,973	120,881
Recurring | (Level 2) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	19,691	27,503
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

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Apr. 01, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-Voting Economic Interest Acquired on Sale of Loan Portfolio	$ 13.5
(Level 3) | NFL Portfolio | Non-recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-Voting Economic Interest Acquired on Sale of Loan Portfolio		$ 14.1

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial Assets:
Securities purchased under agreements to resell, at cost	$ 49,031	$ 50,271
Securities available for sale	122,664	148,384
Securities, held to maturity	76,282	0
Securities, restricted, at cost	2,810	2,680
Loans held for investment, net	849,059	775,441
Accrued interest receivable	4,694	4,197
Financial Liabilities:
Time deposits	18,981	19,312
Carrying Value
Financial Assets:
Cash and cash equivalents	155,196	149,156
Securities purchased under agreements to resell, at cost	49,031	50,271
Securities, held to maturity	76,282
Securities, restricted, at cost	2,810	2,680
Loans held for investment, net	849,059	775,441
Accrued interest receivable	4,694	4,197
Financial Liabilities:
Time deposits	18,981	19,312
Demand and other deposits	1,136,509	1,009,097
Secured borrowings	47	48
Accrued interest payable	0	0
Fair Value
Financial Assets:
Cash and cash equivalents	155,196	149,156
Securities purchased under agreements to resell, at cost	49,031	50,271
Securities, held to maturity	71,636
Loans held for investment, net	842,213	774,114
Accrued interest receivable	4,508	4,197
Financial Liabilities:
Time deposits	18,889	19,330
Demand and other deposits	1,136,509	1,009,097
Secured borrowings	47	48
Accrued interest payable	0	0
Fair Value | (Level 1)
Financial Assets:
Cash and cash equivalents	1,539	2,202
Loans held for investment, net	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Time deposits		0
Demand and other deposits	1,136,509	1,009,097
Secured borrowings	0	0
Accrued interest payable	0	0
Fair Value | (Level 2)
Financial Assets:
Cash and cash equivalents	153,657	146,954
Securities, held to maturity	71,636
Loans held for investment, net	0	0
Accrued interest receivable	231	252
Financial Liabilities:
Time deposits	18,889	19,330
Demand and other deposits	0	0
Secured borrowings	47	48
Accrued interest payable	0	0
Fair Value | (Level 3)
Financial Assets:
Cash and cash equivalents	0	0
Securities purchased under agreements to resell, at cost	49,031	50,271
Loans held for investment, net	842,213	774,114
Accrued interest receivable	4,277	3,945
Financial Liabilities:
Time deposits		0
Demand and other deposits	0	0
Secured borrowings	0	0
Accrued interest payable	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Summary of changes in accumulated other comprehensive income (loss) by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Unrealized (Losses) Gains on Available-for-Sale Securities
Beginning balance	$ (7,044)	$ (77)	$ (850)	$ 1,408
Other comprehensive loss before reclassifications, net of tax	(4,233)	400	(10,427)	(1,085)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current period other comprehensive loss	(4,233)	400	(10,427)	(1,085)
Ending balance	(11,277)	323	(11,277)	323
Reclassifications	$ 0	$ 0	$ 0	$ 0