Esquire Financial (ESQ) 10-Q14 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 01, 2024
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Securities Act 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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,314,227
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Amendment Flag	false
Entity Central Index Key	0001531031

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 152,733	$ 165,209
Securities available for sale, at fair value	176,814	122,107
Securities held-to-maturity, at cost (fair value $64,777 and $69,116, at June 30, 2024 and December 31, 2023, respectively)	73,062	77,001
Securities, restricted, at cost	3,034	2,928
Loans held for investment	1,261,062	1,207,413
Less: allowance for credit losses	(18,521)	(16,631)
Loans, net of allowance	1,242,541	1,190,782
Premises and equipment, net	2,809	2,602
Accrued interest receivable	9,170	9,130
Other assets	55,551	47,117
Total assets	1,715,714	1,616,876
Deposits, by Type [Abstract]
Demand	482,988	473,274
Savings, NOW and money market	991,953	926,264
Time Deposits	11,952	7,761
Total deposits	1,486,893	1,407,299
Accrued expenses and other liabilities	11,410	11,022
Total liabilities	1,498,303	1,418,321
Stockholders' equity:
Common stock, par value $0.01; authorized 15,000,000 shares; 8,372,344 and 8,361,185 shares issued, respectively; and 8,292,948 and 8,287,848 shares outstanding, respectively	84	84
Additional paid-in capital	101,815	99,713
Retained earnings	132,320	114,261
Accumulated other comprehensive loss	(14,241)	(13,235)
Treasury stock at cost, 79,396 and 73,337 shares, respectively	(2,567)	(2,268)
Total stockholders' equity	217,411	198,555
Total liabilities and stockholders' equity	$ 1,715,714	$ 1,616,876

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Securities held to maturity, fair value	$ 64,777	$ 69,116
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	8,372,344	8,361,185
Common stock, shares outstanding	8,292,948	8,287,848
Treasury stock, shares	79,396	73,337

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Loans held for investment	$ 24,216	$ 19,137	$ 47,605	$ 36,752
Securities, includes restricted stock	2,023	1,189	3,628	2,343
Securities purchased under agreements to resell		715		1,368
Interest earning cash and other	1,146	1,014	2,225	1,957
Total interest income	27,385	22,055	53,458	42,420
Interest expense:
Savings, NOW and money market deposits	2,932	1,809	6,030	2,821
Time deposits	130	156	241	219
Borrowings	1	1	2	2
Total interest expense	3,063	1,966	6,273	3,042
Net interest income	24,322	20,089	47,185	39,378
Provision for credit losses	1,000	1,325	2,000	1,825
Net interest income after provision for loan losses	23,322	18,764	45,185	37,553
Noninterest income:
Payment processing fees	5,322	5,764	10,618	11,277
Administrative service income	620	739	1,366	1,268
Gain on equity investment				4,027
Customer related fees, service charges and other	333	192	680	385
Total noninterest income	6,275	6,695	12,664	16,957
Noninterest expense:
Employee compensation and benefits	9,525	7,803	18,686	15,287
Occupancy and equipment	1,156	835	2,083	1,664
Professional and consulting services	857	1,615	1,808	3,158
FDIC and regulatory assessments	233	182	455	326
Advertising and marketing	881	320	1,753	749
Travel and business relations	180	246	458	394
Data processing	1,722	1,249	3,233	2,382
Other operating expenses	678	726	1,324	1,497
Total noninterest expense	15,232	12,976	29,800	25,457
Net income before income taxes	14,365	12,483	28,049	29,053
Income tax expense	3,878	3,370	7,504	7,761
Net income	$ 10,487	$ 9,113	$ 20,545	$ 21,292
Earnings Per Share, Basic, Other Disclosure [Abstract]
Basic	$ 1.34	$ 1.18	$ 2.64	$ 2.76
Diluted	$ 1.25	$ 1.10	$ 2.45	$ 2.57

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 10,487	$ 9,113	$ 20,545	$ 21,292
Other comprehensive income (loss):
Unrealized (losses) gains arising during the period on securities available-for-sale	176	(980)	(1,388)	931
Tax effect	(48)	270	382	(256)
Total other comprehensive (loss) income	128	(710)	(1,006)	675
Total comprehensive income	$ 10,615	$ 8,403	$ 19,539	$ 21,967

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Previously Reported Common stock	Previously Reported Additional paid in capital	Previously Reported Retained earnings (deficit)	Previously Reported Accumulated other comprehensive loss	Previously Reported Treasury Stock	Previously Reported	Cumulative Change in Accounting Principal Retained earnings (deficit)	Cumulative Change in Accounting Principal	Adjusted for Change in Accounting Principal Common stock	Adjusted for Change in Accounting Principal Additional paid in capital	Adjusted for Change in Accounting Principal Retained earnings (deficit)	Adjusted for Change in Accounting Principal Accumulated other comprehensive loss	Adjusted for Change in Accounting Principal Treasury Stock	Adjusted for Change in Accounting Principal	Common stock	Additional paid in capital	Retained earnings (deficit)	Accumulated other comprehensive loss	Treasury Stock	Total
Balance, beginning at Dec. 31, 2022															$ 82	$ 96,387	$ 77,712	$ (15,117)	$ (906)	$ 158,158
Balance, beginning (shares) at Dec. 31, 2022															8,195,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income																	21,292			21,292
Other comprehensive income (loss)																		675		675
Stock compensation expense																1,578				1,578
Cash dividends declared to common stockholders																	(1,843)			(1,843)
Exercise of stock options, net of repurchases																53				53
Exercise of stock options, net of repurchases (shares)															8,752
Shares received related to tax withholding																			(153)	(153)
Shares received related to tax withholding (shares)															(3,706)
Purchase of common stock																			(286)	(286)
Purchase of common stock (shares)															(8,000)
Balance, ending (Accounting Standards Update 2016-13) at Jun. 30, 2023							$ (568)	$ (568)	$ 82	$ 96,387	$ 77,144	$ (15,117)	$ (906)	$ 157,590
Balance, ending at Jun. 30, 2023															$ 82	98,018	96,593	(14,442)	(1,345)	178,906
Balance, ending (shares) (Accounting Standards Update 2016-13) at Jun. 30, 2023									8,195,333
Balance, ending (shares) at Jun. 30, 2023															8,192,379
Balance, beginning at Mar. 31, 2023															$ 82	97,224	88,504	(13,732)	(1,327)	170,751
Balance, beginning (shares) at Mar. 31, 2023															8,190,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income																	9,113			9,113
Other comprehensive income (loss)																		(710)		(710)
Stock compensation expense																788				788
Cash dividends declared to common stockholders																	(1,024)			(1,024)
Exercise of stock options, net of repurchases																6				6
Exercise of stock options, net of repurchases (shares)															2,121
Purchase of common stock																			(18)	(18)
Purchase of common stock (shares)															(500)
Balance, ending (Accounting Standards Update 2016-13) at Jun. 30, 2023							$ (568)	$ (568)	$ 82	$ 96,387	$ 77,144	$ (15,117)	$ (906)	$ 157,590
Balance, ending at Jun. 30, 2023															$ 82	98,018	96,593	(14,442)	(1,345)	178,906
Balance, ending (shares) (Accounting Standards Update 2016-13) at Jun. 30, 2023									8,195,333
Balance, ending (shares) at Jun. 30, 2023															8,192,379
Balance, beginning (Accounting Standards Update 2016-13) at Dec. 31, 2023	$ 84	$ 99,713	$ 114,261	$ (13,235)	$ (2,268)	$ 198,555
Balance, beginning at Dec. 31, 2023																				198,555
Balance, beginning (shares) (Accounting Standards Update 2016-13) at Dec. 31, 2023	8,287,848
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income																	20,545			20,545
Other comprehensive income (loss)																		(1,006)		(1,006)
Stock compensation expense																1,929				1,929
Cash dividends declared to common stockholders																	(2,486)			(2,486)
Exercise of stock options, net of repurchases																173				173
Exercise of stock options, net of repurchases (shares)															11,159
Shares received related to tax withholding																			(299)	(299)
Shares received related to tax withholding (shares)															(6,059)
Balance, ending at Jun. 30, 2024															$ 84	101,815	132,320	(14,241)	(2,567)	217,411
Balance, ending (shares) at Jun. 30, 2024															8,292,948
Balance, beginning at Mar. 31, 2024															$ 84	100,853	123,077	(14,369)	(2,567)	207,078
Balance, beginning (shares) at Mar. 31, 2024															8,292,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income																	10,487			10,487
Other comprehensive income (loss)																		128		128
Stock compensation expense																962				962
Cash dividends declared to common stockholders																	(1,244)			(1,244)
Exercise of stock options, net of repurchases (shares)															159
Balance, ending at Jun. 30, 2024															$ 84	$ 101,815	$ 132,320	$ (14,241)	$ (2,567)	$ 217,411
Balance, ending (shares) at Jun. 30, 2024															8,292,948

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Stock options repurchased (shares)	257	2,070	257	3,418
Cash dividends per share	$ 0.15	$ 0.125	$ 0.30	$ 0.225

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 20,545	$ 21,292
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	2,000	1,825
Depreciation and amortization of premises and equipment	370	349
Stock compensation expense	1,929	1,578
Gain on equity investment		(4,027)
Net amortization (accretion):
Securities	164	226
Loans	(247)	(707)
Right of use asset	279	292
Software	1,044	626
Changes in other assets and liabilities:
Accrued interest receivable	(40)	(1,217)
Other assets	(6,305)	(7,879)
Operating lease liability	(352)	(291)
Accrued expenses and other liabilities	608	3,040
Net cash provided by operating activities	19,995	15,107
Cash flows from investing activities:
Net change in loans	(53,512)	(107,649)
Net change in securities purchased under agreements to resell		62
Purchases of securities available-for-sale	(65,183)
Purchases of securities held-to-maturity		(5,978)
Principal repayments on securities available-for-sale	8,972	6,339
Principal repayments on securities held-to-maturity	3,891	3,426
(Purchases) redemption of securities, restricted	(106)	(118)
Proceeds from sale of equity investment	1,467	3,737
Purchase of equity investment	(3,524)
Purchases of premises and equipment	(577)	(146)
Development of capitalized software	(1,013)	(1,324)
Net cash used in investing activities	(109,585)	(101,651)
Cash flows from financing activities:
Net increase in deposits	79,594	30,748
Decrease in borrowings	(1)	(1)
Exercise of stock options, net of repurchases	173	53
Tax withholding payments for vested equity awards	(299)	(153)
Cash dividends paid to common stockholders	(2,353)	(1,740)
Purchase of common stock		(286)
Net cash provided by financing activities	77,114	28,621
(Decrease) Increase in cash and cash equivalents	(12,476)	(57,923)
Cash and cash equivalents at beginning of the period	165,209	164,122
Cash and cash equivalents at end of the period	152,733	106,199
Cash paid during the period for:
Interest	6,278	2,942
Taxes	8,932	9,885
Noncash transactions:
Dividends declared but not paid	133	103
Exchange of noncash instruments	$ (300)	1,100
Cumulative change in accounting principle		$ (568)

Basis and Summary of Significan

Basis and Summary of Significant Accounting Policies	6 Months Ended
Basis and Summary of Significant Accounting Policies	Jun. 30, 2024
Basis and Summary of Significant Accounting Policies:
Basis 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 including 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 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, 2023 and 2022. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024 or any other period. 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 National Football League (“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 Statements of Financial Condition. Losses may occur as a result of a reduction of projected cash flows from the VIE’s loan portfolio based on expected claim settlements. The Company recognized an equity method loss of approximately $500 thousand on its investment in the second quarter of 2024, which is representative of the six months ended June 30, 2024. As of June 30, 2024, the investment’s carrying amount was $10.1 million with a remaining life of 4.8 years. As of December 31, 2023, the investment’s carrying amount was $10.6 million. 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. Summary of Significant Accounting Policies Please see "Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies" for a discussion of areas in the accompanying unaudited Consolidated Financial Statements utilizing significant estimates.

Debt Securities

Debt Securities	6 Months Ended
Debt Securities	Jun. 30, 2024
Debt Securities:
Debt Securities	NOTE 2 — Debt Securities The following tables summarize the major categories of securities as of the dates indicated: June 30, 2024 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Mortgage-backed securities – agency $ 104,774 $ — $ (17,456) $ 87,318 Collateralized mortgage obligations ("CMOs") – agency 91,683 166 (2,353) 89,496 Total available-for-sale $ 196,457 $ 166 $ (19,809) $ 176,814 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Securities held-to-maturity: CMOs – agency $ 73,062 $ — $ (8,285) $ 64,777 Total held-to-maturity $ 73,062 $ — $ (8,285) $ 64,777 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Mortgage-backed securities – agency $ 107,396 $ 6 $ (16,392) $ 91,010 CMOs – agency 32,966 264 (2,133) 31,097 Total available-for-sale $ 140,362 $ 270 $ (18,525) $ 122,107 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Securities held-to-maturity: CMOs – agency $ 77,001 $ 9 $ (7,894) $ 69,116 Total held-to-maturity $ 77,001 $ 9 $ (7,894) $ 69,116 Mortgage-backed securities included 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 At June 30, 2024, securities having a fair value of $185.6 million were pledged to the Federal Home Loan Bank of New York (“FHLB”) for borrowing capacity totaling $175.1 million. At December 31, 2023, securities having a fair value of $131.5 million were pledged to the FHLB for borrowing capacity totaling $125.7 million. At June 30, 2024 and December 31, 2023, the Company had no outstanding FHLB advances. At June 30, 2024, securities having a fair value of $56.0 million were pledged to the Federal Reserve Bank of New York (“FRB”) for borrowing capacity totaling $54.4 million. At December 31, 2023, securities having a fair value of $59.7 million were pledged to the FRB for borrowing capacity totaling $58.0 million. At June 30, 2024 and December 31, 2023, 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: June 30, 2024 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 $ 6,439 $ (94) $ 80,879 $ (17,362) $ 87,318 $ (17,456) CMOs – agency 51,839 (219) 11,766 (2,134) 63,605 (2,353) Total available-for-sale $ 58,278 $ (313) $ 92,645 $ (19,496) $ 150,923 $ (19,809) 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 $ 4,957 $ (40) $ 59,820 $ (8,245) $ 64,777 $ (8,285) Total held-to-maturity $ 4,957 $ (40) $ 59,820 $ (8,245) $ 64,777 $ (8,285) December 31, 2023 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 $ 3,143 $ (17) $ 86,082 $ (16,375) $ 89,225 $ (16,392) CMOs – agency — — 13,176 (2,133) 13,176 (2,133) Total available-for-sale $ 3,143 $ (17) $ 99,258 $ (18,508) $ 102,401 $ (18,525) 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 $ — $ — $ 63,739 $ (7,894) $ 63,739 $ (7,894) Total held-to-maturity $ — $ — $ 63,739 $ (7,894) $ 63,739 $ (7,894) Management evaluates securities available-for-sale in unrealized loss positions to determine whether the impairment is due to credit-related factors. 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 impaired at June 30, 2024. As of June 30, 2024, none of the Company’s available-for-sale securities were in an unrealized loss position due to credit, and therefore no allowance for credit losses on available-for-sale securities was required. Additionally, there was no allowance for credit losses on securities held-to-maturity due to the high credit quality composition consisting of issuances from government sponsored agencies. Accrued interest receivable on securities totaling $786 thousand at June 30, 2024 and $515 thousand at December 31, 2023, was included in Accrued interest receivable in the Consolidated Statements of Financial Condition and excluded from amortized cost and estimated fair value in the tables above.

Loans

Loans	6 Months Ended
Loans	Jun. 30, 2024
Loans:
Loans	NOTE 3 — Loans The composition of loans by class is summarized as follows: June 30, December 31, 2024 2023 (In thousands) Real estate: Multifamily $ 352,097 $ 348,241 Commercial real estate 88,376 89,498 1 – 4 family 15,336 17,937 Total real estate 455,809 455,676 Commercial 786,593 737,914 Consumer 19,010 14,491 Total loans held for investment 1,261,412 1,208,081 Deferred fees and unearned premiums, net (350) (668) Allowance for credit losses (18,521) (16,631) Loans held for investment, net $ 1,242,541 $ 1,190,782 The following tables present the activity in the allowance for credit losses by class for the three months ending June 30, 2024 and June 30, 2023: Commercial Multifamily Real Estate 1 ‑ 4 Family Commercial Consumer Total (In thousands) June 30, 2024 Allowance for credit losses: Beginning balance $ 3,311 $ 791 $ 61 $ 12,631 $ 729 $ 17,523 Provision (credit) for credit losses 92 (47) (6) 904 57 1,000 Recoveries — — — — 5 5 Loans charged-off — — — — (7) (7) Total ending allowance balance $ 3,403 $ 744 $ 55 $ 13,535 $ 784 $ 18,521 June 30, 2023 Allowance for credit losses: Beginning balance $ 2,106 $ 885 $ 54 $ 9,588 $ 319 $ 12,952 Provision (credit) for credit losses 317 (18) 11 983 32 1,325 Recoveries — — — — 16 16 Loans charged-off — — — (5) (109) (114) Total ending allowance balance $ 2,423 $ 867 $ 65 $ 10,566 $ 258 $ 14,179 The following tables present the activity in the allowance for credit losses by class for the six months ending June 30, 2024 and June 30, 2023: Commercial Multifamily Real Estate 1 ‑ 4 Family Commercial Consumer Total (In thousands) June 30, 2024 Allowance for credit losses: Beginning balance $ 3,236 $ 823 $ 58 $ 12,056 $ 458 $ 16,631 Provision (credit) for credit losses 167 (79) (3) 1,479 436 2,000 Recoveries — — — — 24 24 Loans charged-off — — — — (134) (134) Total ending allowance balance $ 3,403 $ 744 $ 55 $ 13,535 $ 784 $ 18,521 June 30, 2023 Allowance for credit losses: Beginning balance, prior to adoption of CECL Standard $ 2,017 $ 1,022 $ 192 $ 8,645 $ 347 $ 12,223 Impact of adopting CECL Standard 8 (109) (131) 514 1 283 Provision (credit) for credit losses 398 (46) 4 1,412 57 1,825 Recoveries — — — — 16 16 Loans charged-off — — — (5) (163) (168) Total ending allowance balance $ 2,423 $ 867 $ 65 $ 10,566 $ 258 $ 14,179 As of June 30, 2024 and December 31, 2023, there was one multifamily collateral dependent loan secured by real estate totaling $10.9 million with no associated specific reserve on the Consolidated Statements of Financial Condition. The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2024 and December 31, 2023: Total Past 30-59 60-89 90 Days Due & Days Days or More Nonaccrual Nonaccrual Loans Not Past Due Past Due Past Due Loans Loans Past Due Total (In thousands) June 30, 2024 Multifamily $ — $ — $ — $ 10,940 $ 10,940 $ 341,157 $ 352,097 Commercial real estate — — — — — 88,376 88,376 1 – 4 family — — — — — 15,336 15,336 Commercial — — — — — 786,593 786,593 Consumer 69 1 71 — 141 18,869 19,010 Total $ 69 $ 1 $ 71 $ 10,940 $ 11,081 $ 1,250,331 $ 1,261,412 Total Past 30-59 60-89 90 Days Due & Days Days or More Nonaccrual Nonaccrual Loans Not Past Due Past Due Past Due Loans Loans Past Due Total (In thousands) December 31, 2023 Multifamily $ — $ — $ — $ 10,940 $ 10,940 $ 337,301 $ 348,241 Commercial real estate — — — — — 89,498 89,498 1 – 4 family — — — — — 17,937 17,937 Commercial — — — — — 737,914 737,914 Consumer 24 41 69 — 134 14,357 14,491 Total $ 24 $ 41 $ 69 $ 10,940 $ 11,074 $ 1,197,007 $ 1,208,081 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. The following is a summary of the credit risk profile of loans, measured at amortized cost, by internally assigned grade as of the periods indicated, the years represent the year of originations for non-revolving loans: June 30, 2024 2024 2023 2022 2021 2020 2019 and Prior Revolving Revolving-Term Total (In thousands) Multifamily: Pass $ 18,572 $ 105,040 $ 26,925 $ 108,776 $ 23,256 $ 58,767 $ — $ — $ 341,336 Special Mention — — — — — — — — — Substandard — — — — 10,940 — — — 10,940 Doubtful — — — — — — — — — Total 18,572 105,040 26,925 108,776 34,196 58,767 — — 352,276 Current period gross charge-offs — — — — — — — — — Commercial real estate: Pass — 3,100 58,132 10,439 1,736 14,908 — — 88,315 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total — 3,100 58,132 10,439 1,736 14,908 — — 88,315 Current period gross charge-offs — — — — — — — — — 1-4 family: Pass — — 1,842 — — 13,495 — — 15,337 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total — — 1,842 — — 13,495 — — 15,337 Current period gross charge-offs — — — — — — — — — Commercial: Pass 27,851 43,864 36,882 8,235 368 435 661,108 3,343 782,086 Special Mention — — — — — — 3,987 — 3,987 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 27,851 43,864 36,882 8,235 368 435 665,095 3,343 786,073 Current period gross charge-offs — — — — — — — — — Consumer: Pass 1,342 4,590 3,564 — 329 1,052 8,184 — 19,061 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 1,342 4,590 3,564 — 329 1,052 8,184 — 19,061 Current period gross charge-offs — — 134 — — — — — 134 Total: Pass 47,765 156,594 127,345 127,450 25,689 88,657 669,292 3,343 1,246,135 Special Mention — — — — — — 3,987 — 3,987 Substandard — — — — 10,940 — — — 10,940 Doubtful — — — — — — — — — Total loans $ 47,765 $ 156,594 $ 127,345 $ 127,450 $ 36,629 $ 88,657 $ 673,279 $ 3,343 $ 1,261,062 Total current period gross charge-offs $ — $ — $ 134 $ — $ — $ — $ — $ — $ 134 December 31, 2023 2023 2022 2021 2020 2019 2018 and Prior Revolving Revolving-Term Total (In thousands) Multifamily: Pass $ 105,175 $ 29,116 $ 109,919 $ 23,512 $ 22,155 $ 47,566 $ — $ — $ 337,443 Special Mention — — — — — — — — — Substandard — — — 10,940 — — — — 10,940 Doubtful — — — — — — — — — Total 105,175 29,116 109,919 34,452 22,155 47,566 — — 348,383 Current period gross charge-offs — — — — — — — — — Commercial real estate: Pass 3,401 58,552 10,560 1,757 5,651 9,515 — — 89,436 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 3,401 58,552 10,560 1,757 5,651 9,515 — — 89,436 Current period gross charge-offs — — — — — — — — — 1-4 family: Pass — 1,861 — — 4,296 11,776 — — 17,933 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total — 1,861 — — 4,296 11,776 — — 17,933 Current period gross charge-offs — — — — — — — — — Commercial: Pass 43,500 59,203 9,212 489 — 465 615,177 5,024 733,070 Special Mention — — — — — — 3,988 — 3,988 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 43,500 59,203 9,212 489 — 465 619,165 5,024 737,058 Current period gross charge-offs — — — — — 5 — — 5 Consumer: Pass 5,414 5,397 56 358 1,106 32 2,240 — 14,603 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 5,414 5,397 56 358 1,106 32 2,240 — 14,603 Current period gross charge-offs — 324 25 90 — — — — 439 Total: Pass 157,490 154,129 129,747 26,116 33,208 69,354 617,417 5,024 1,192,485 Special Mention — — — — — — 3,988 — 3,988 Substandard — — — 10,940 — — — — 10,940 Doubtful — — — — — — — — — Total loans $ 157,490 $ 154,129 $ 129,747 $ 37,056 $ 33,208 $ 69,354 $ 621,405 $ 5,024 $ 1,207,413 Total current period gross charge-offs $ — $ 324 $ 25 $ 90 $ — $ 5 $ — $ — $ 444 The Company considers the performance of the loan portfolio and its impact on the allowance for credit 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. Loan Modifications 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. During the three and six months ended June 30, 2024 and 2023, the Company did not modify the terms of any loans or commitments to lend to borrowers experiencing financial difficulty in the form of an interest rate reduction, term extension, principal forgiveness or other-than-insignificant payment delay. Pledged Loans At June 30, 2024, loans totaling $215.7 million were pledged to the FHLB for borrowing capacity totaling $149.7 million. At December 31, 2023, loans totaling $222.4 million were pledged to the FHLB for borrowing capacity totaling $158.5 million.

Noninterest Income

Noninterest Income	6 Months Ended
Noninterest Income	Jun. 30, 2024
Noninterest Income:
Noninterest Income	NOTE 4 — Noninterest Income The majority of the Company’s revenue-generating transactions are not subject to Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, including revenue generated from financial instruments, such as loans, letters of credit, and investment securities. Descriptions of revenue-generating activities that are within the scope of ASC 606, and are presented in the Consolidated Statements of Income as components of noninterest income, are as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Payment processing fees: Payment processing income $ 5,140 $ 5,550 $ 10,240 $ 10,850 ACH income 182 214 378 427 Total payment processing fees 5,322 5,764 10,618 11,277 Customer related fees, service charges and other: Administrative service income 620 739 1,366 1,268 Gain on equity investment (1) — — — 4,027 Other 333 192 680 385 Total customer related fees, service charges and other 953 931 2,046 5,680 Total noninterest income $ 6,275 $ 6,695 $ 12,664 $ 16,957 (1) Represents a valuation adjustment 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 FRB 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, asset management 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
Share-Based Payment Plans	Jun. 30, 2024
Share-Based Payment Plans:
Share-Based Payment Plans	NOTE 5 — Share-Based Payment Plans The Company issues incentive and non-statutory 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 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 The following table presents a summary of the activity related to options for the six months ended June 30, 2024: Six Months Ended June 30, 2024 Weighted Weighted Average Average Remaining Exercise Contractual Options Price Life (Years) Outstanding at beginning of year 639,519 $ 20.76 Granted — — Exercised (11,416) 16.21 Forfeited (834) 45.91 Expired — — Outstanding at period end 627,269 $ 20.81 3.90 Vested or expected to vest 627,269 $ 20.81 3.90 Exercisable at period end 528,970 $ 16.72 3.00 The Company recognized compensation expense related to options of $188 thousand and $159 thousand for the three months ended June 30, 2024 and 2023, respectively. The Company recognized compensation expense related to options of $368 thousand and $326 thousand for the six months ended June 30, 2024 and 2023, respectively. At June 30, 2024, unrecognized compensation cost related to nonvested options was approximately $1.1 million and is expected to be recognized over a weighted average period of 1.97 years. The intrinsic value for outstanding options and for options vested or expected to vest was $16.8 million and $16.3 million for exercisable options at June 30, 2024. Information related to stock option exercises during each period is as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Intrinsic value of options exercised $ 8 $ 88 $ 377 $ 330 Cash received from option exercises — 6 173 53 Excess tax benefit from option exercises 1 16 84 73 The following table presents a summary of the activity related to restricted stock for the six months ended June 30, 2024: Six Months Ended June 30, 2024 Weighted Average Grant Date Shares Fair Value Outstanding at beginning of year 514,935 $ 32.44 Granted — — Vested (20,503) 19.25 Forfeited — — Outstanding at period end 494,432 $ 32.98 The Company recognized compensation expense related to restricted stock of $774 thousand and $629 thousand for the three months ended June 30, 2024 and 2023, respectively. The Company recognized compensation expense related to restricted stock of $1.6 million and $1.3 million for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, there was $10.6 million of total unrecognized compensation cost related to nonvested shares granted under the plan. The cost is expected to be recognized over a weighted-average period of 4.27 years.

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Jun. 30, 2024
Earnings per Share:
Earnings per Share	NOTE 6 — Earnings per Share The factors used in the earnings per share computation follow: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (Dollars in thousands, except per share data) Basic: Net income $ 10,487 $ 9,113 $ 20,545 $ 21,292 Weighted average shares outstanding 7,798,441 7,708,350 7,792,664 7,708,546 Basic earnings per share $ 1.34 $ 1.18 $ 2.64 $ 2.76 Diluted: Net income $ 10,487 $ 9,113 $ 20,545 $ 21,292 Weighted average shares outstanding for basic earnings per share 7,798,441 7,708,350 7,792,664 7,708,546 Add: Dilutive effects of share based awards 604,309 591,354 609,455 592,603 Weighted average shares and dilutive potential shares 8,402,750 8,299,704 8,402,119 8,301,149 Diluted earnings per share $ 1.25 $ 1.10 $ 2.45 $ 2.57 Share-based awards totaling 93,996 shares shares

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2024
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, 2024, right of use (“ROU”) lease assets liabilities assets liabilities As of June 30, 2024, the Company was obligated under several non-cancelable leases for certain premises and equipment. The minimum annual rental commitments, exclusive of taxes and other charges, under non-cancelable lease agreements for premises at June 30, 2024, are summarized as follows: Operating Lease Liabilities (In thousands) 2024 $ 396 2025 803 2026 754 2027 — 2028 — Thereafter — Total operating lease payments 1,953 Less: interest 122 Present value of operating lease liabilities $ 1,831 In addition to the table above, as of June 30, 2024, the Company had an additional future operating lease commitment of $2.6 million that was signed but not yet commenced. This operating lease will commence in the fourth quarter of 2024 with a lease term of 10 years. June 30, 2024 2023 Weighted-average remaining lease term 2.42 years 3.42 years Weighted-average discount rate 3.29 % 3.29 % The components of total lease cost are as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Operating lease cost $ 158 $ 156 $ 315 $ 315 Short-term lease cost 25 62 59 121 Total lease cost $ 183 $ 218 $ 374 $ 436 Cash paid for operating leases $ 220 $ 220 $ 447 $ 436

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2024
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, 2024 Assets Securities available-for-sale Mortgage-backed securities – agency $ — $ 87,318 $ — CMOs – agency — 89,496 — Total available-for-sale $ — $ 176,814 $ — December 31, 2023 Assets Securities available-for-sale Mortgage-backed securities – agency $ — $ 91,010 $ — CMOs – agency — 31,097 — Total available-for-sale $ — $ 122,107 $ — There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2024 and 2023. The following tables present the carrying amounts and fair values (represents exit price) of financial instruments not carried at fair value at June 30, 2024 and December 31, 2023: Fair Value Measurement at June 30, 2024, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total (In thousands) Financial Assets: Cash and cash equivalents $ 152,733 $ 152,733 $ — $ — $ 152,733 Securities, held-to-maturity 73,062 — 64,777 — 64,777 Securities, restricted, at cost 3,034 N/A N/A N/A N/A Loans held for investment, net 1,242,541 — — 1,222,508 1,222,508 Accrued interest receivable 9,170 — 855 8,315 9,170 Financial Liabilities: Time deposits 11,952 — 11,902 — 11,902 Demand and other deposits 1,474,941 1,474,941 — — 1,474,941 Secured borrowings 43 — — 43 43 Accrued interest payable 6 — 6 — 6 Fair Value Measurement at December 31, 2023, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total (In thousands) Financial Assets: Cash and cash equivalents $ 165,209 $ 165,209 $ — $ — $ 165,209 Securities, held-to-maturity 77,001 — 69,116 — 69,116 Securities, restricted, at cost 2,928 N/A N/A N/A N/A Loans held for investment, net 1,190,782 — — 1,172,226 1,172,226 Accrued interest receivable 9,130 — 579 8,551 9,130 Financial Liabilities: Time deposits 7,761 — 7,647 — 7,647 Demand and other deposits 1,399,538 1,399,538 — — 1,399,538 Secured borrowings 44 — — 44 44 Accrued interest payable 11 — 11 — 11

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Jun. 30, 2024
Accumulated Other Comprehensive Loss:
Accumulated Other Comprehensive Loss	NOTE 9 — Accumulated Other Comprehensive Loss The following presents changes in accumulated other comprehensive loss by component, net of tax, for the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Unrealized (Losses) Gains on Securities Available-for-Sale Beginning balance $ (14,369) $ (13,732) $ (13,235) $ (15,117) Other comprehensive income (loss) before reclassifications, net of tax 128 (710) (1,006) 675 Net current period other comprehensive income (loss) 128 (710) (1,006) 675 Ending balance $ (14,241) $ (14,442) $ (14,241) $ (14,442) There were no reclassifications

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 10,487	$ 9,113	$ 20,545	$ 21,292

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis and Summary of Signific_2

Basis and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Basis and Summary of Significant Accounting Policies:
Basis of Presentation	Basis of Presentation The Interim Consolidated Financial Statements including 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 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, 2023 and 2022. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024 or any other period.
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 National Football League (“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 Statements of Financial Condition. Losses may occur as a result of a reduction of projected cash flows from the VIE’s loan portfolio based on expected claim settlements. The Company recognized an equity method loss of approximately $500 thousand on its investment in the second quarter of 2024, which is representative of the six months ended June 30, 2024. As of June 30, 2024, the investment’s carrying amount was $10.1 million with a remaining life of 4.8 years. As of December 31, 2023, the investment’s carrying amount was $10.6 million.
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.
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Please see "Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies" for a discussion of areas in the accompanying unaudited Consolidated Financial Statements utilizing significant estimates.

Debt Securities (Tables)

Debt Securities (Tables)	6 Months Ended
Debt Securities (Tables)	Jun. 30, 2024
Debt Securities:
Schedule of available-for-sale and held-to-maturity debt securities by date	June 30, 2024 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Mortgage-backed securities – agency $ 104,774 $ — $ (17,456) $ 87,318 Collateralized mortgage obligations ("CMOs") – agency 91,683 166 (2,353) 89,496 Total available-for-sale $ 196,457 $ 166 $ (19,809) $ 176,814 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Securities held-to-maturity: CMOs – agency $ 73,062 $ — $ (8,285) $ 64,777 Total held-to-maturity $ 73,062 $ — $ (8,285) $ 64,777 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Mortgage-backed securities – agency $ 107,396 $ 6 $ (16,392) $ 91,010 CMOs – agency 32,966 264 (2,133) 31,097 Total available-for-sale $ 140,362 $ 270 $ (18,525) $ 122,107 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Securities held-to-maturity: CMOs – agency $ 77,001 $ 9 $ (7,894) $ 69,116 Total held-to-maturity $ 77,001 $ 9 $ (7,894) $ 69,116
Schedule of gross unrealized and unrecognized losses and fair value for available-for-sale and held-to-maturity debt securities in continuous unrealized loss positions	June 30, 2024 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 $ 6,439 $ (94) $ 80,879 $ (17,362) $ 87,318 $ (17,456) CMOs – agency 51,839 (219) 11,766 (2,134) 63,605 (2,353) Total available-for-sale $ 58,278 $ (313) $ 92,645 $ (19,496) $ 150,923 $ (19,809) 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 $ 4,957 $ (40) $ 59,820 $ (8,245) $ 64,777 $ (8,285) Total held-to-maturity $ 4,957 $ (40) $ 59,820 $ (8,245) $ 64,777 $ (8,285) December 31, 2023 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 $ 3,143 $ (17) $ 86,082 $ (16,375) $ 89,225 $ (16,392) CMOs – agency — — 13,176 (2,133) 13,176 (2,133) Total available-for-sale $ 3,143 $ (17) $ 99,258 $ (18,508) $ 102,401 $ (18,525) 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 $ — $ — $ 63,739 $ (7,894) $ 63,739 $ (7,894) Total held-to-maturity $ — $ — $ 63,739 $ (7,894) $ 63,739 $ (7,894)

Loans (Tables)

Loans (Tables)	6 Months Ended
Loans (Tables)	Jun. 30, 2024
Loans:
Schedule of composition of loans by class	June 30, December 31, 2024 2023 (In thousands) Real estate: Multifamily $ 352,097 $ 348,241 Commercial real estate 88,376 89,498 1 – 4 family 15,336 17,937 Total real estate 455,809 455,676 Commercial 786,593 737,914 Consumer 19,010 14,491 Total loans held for investment 1,261,412 1,208,081 Deferred fees and unearned premiums, net (350) (668) Allowance for credit losses (18,521) (16,631) Loans held for investment, net $ 1,242,541 $ 1,190,782
Schedule of activity in the allowance for credit losses by class (CECL and incurred loss methodologies)	Commercial Multifamily Real Estate 1 ‑ 4 Family Commercial Consumer Total (In thousands) June 30, 2024 Allowance for credit losses: Beginning balance $ 3,311 $ 791 $ 61 $ 12,631 $ 729 $ 17,523 Provision (credit) for credit losses 92 (47) (6) 904 57 1,000 Recoveries — — — — 5 5 Loans charged-off — — — — (7) (7) Total ending allowance balance $ 3,403 $ 744 $ 55 $ 13,535 $ 784 $ 18,521 June 30, 2023 Allowance for credit losses: Beginning balance $ 2,106 $ 885 $ 54 $ 9,588 $ 319 $ 12,952 Provision (credit) for credit losses 317 (18) 11 983 32 1,325 Recoveries — — — — 16 16 Loans charged-off — — — (5) (109) (114) Total ending allowance balance $ 2,423 $ 867 $ 65 $ 10,566 $ 258 $ 14,179 Commercial Multifamily Real Estate 1 ‑ 4 Family Commercial Consumer Total (In thousands) June 30, 2024 Allowance for credit losses: Beginning balance $ 3,236 $ 823 $ 58 $ 12,056 $ 458 $ 16,631 Provision (credit) for credit losses 167 (79) (3) 1,479 436 2,000 Recoveries — — — — 24 24 Loans charged-off — — — — (134) (134) Total ending allowance balance $ 3,403 $ 744 $ 55 $ 13,535 $ 784 $ 18,521 June 30, 2023 Allowance for credit losses: Beginning balance, prior to adoption of CECL Standard $ 2,017 $ 1,022 $ 192 $ 8,645 $ 347 $ 12,223 Impact of adopting CECL Standard 8 (109) (131) 514 1 283 Provision (credit) for credit losses 398 (46) 4 1,412 57 1,825 Recoveries — — — — 16 16 Loans charged-off — — — (5) (163) (168) Total ending allowance balance $ 2,423 $ 867 $ 65 $ 10,566 $ 258 $ 14,179
Schedule of the aging of the recorded investment in past due loans by class	Total Past 30-59 60-89 90 Days Due & Days Days or More Nonaccrual Nonaccrual Loans Not Past Due Past Due Past Due Loans Loans Past Due Total (In thousands) June 30, 2024 Multifamily $ — $ — $ — $ 10,940 $ 10,940 $ 341,157 $ 352,097 Commercial real estate — — — — — 88,376 88,376 1 – 4 family — — — — — 15,336 15,336 Commercial — — — — — 786,593 786,593 Consumer 69 1 71 — 141 18,869 19,010 Total $ 69 $ 1 $ 71 $ 10,940 $ 11,081 $ 1,250,331 $ 1,261,412 Total Past 30-59 60-89 90 Days Due & Days Days or More Nonaccrual Nonaccrual Loans Not Past Due Past Due Past Due Loans Loans Past Due Total (In thousands) December 31, 2023 Multifamily $ — $ — $ — $ 10,940 $ 10,940 $ 337,301 $ 348,241 Commercial real estate — — — — — 89,498 89,498 1 – 4 family — — — — — 17,937 17,937 Commercial — — — — — 737,914 737,914 Consumer 24 41 69 — 134 14,357 14,491 Total $ 24 $ 41 $ 69 $ 10,940 $ 11,074 $ 1,197,007 $ 1,208,081
Schedule of credit risk profile of loans, net of deferred fees and unearned premium, by internally assigned grade for non-revolving loans	June 30, 2024 2024 2023 2022 2021 2020 2019 and Prior Revolving Revolving-Term Total (In thousands) Multifamily: Pass $ 18,572 $ 105,040 $ 26,925 $ 108,776 $ 23,256 $ 58,767 $ — $ — $ 341,336 Special Mention — — — — — — — — — Substandard — — — — 10,940 — — — 10,940 Doubtful — — — — — — — — — Total 18,572 105,040 26,925 108,776 34,196 58,767 — — 352,276 Current period gross charge-offs — — — — — — — — — Commercial real estate: Pass — 3,100 58,132 10,439 1,736 14,908 — — 88,315 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total — 3,100 58,132 10,439 1,736 14,908 — — 88,315 Current period gross charge-offs — — — — — — — — — 1-4 family: Pass — — 1,842 — — 13,495 — — 15,337 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total — — 1,842 — — 13,495 — — 15,337 Current period gross charge-offs — — — — — — — — — Commercial: Pass 27,851 43,864 36,882 8,235 368 435 661,108 3,343 782,086 Special Mention — — — — — — 3,987 — 3,987 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 27,851 43,864 36,882 8,235 368 435 665,095 3,343 786,073 Current period gross charge-offs — — — — — — — — — Consumer: Pass 1,342 4,590 3,564 — 329 1,052 8,184 — 19,061 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 1,342 4,590 3,564 — 329 1,052 8,184 — 19,061 Current period gross charge-offs — — 134 — — — — — 134 Total: Pass 47,765 156,594 127,345 127,450 25,689 88,657 669,292 3,343 1,246,135 Special Mention — — — — — — 3,987 — 3,987 Substandard — — — — 10,940 — — — 10,940 Doubtful — — — — — — — — — Total loans $ 47,765 $ 156,594 $ 127,345 $ 127,450 $ 36,629 $ 88,657 $ 673,279 $ 3,343 $ 1,261,062 Total current period gross charge-offs $ — $ — $ 134 $ — $ — $ — $ — $ — $ 134 December 31, 2023 2023 2022 2021 2020 2019 2018 and Prior Revolving Revolving-Term Total (In thousands) Multifamily: Pass $ 105,175 $ 29,116 $ 109,919 $ 23,512 $ 22,155 $ 47,566 $ — $ — $ 337,443 Special Mention — — — — — — — — — Substandard — — — 10,940 — — — — 10,940 Doubtful — — — — — — — — — Total 105,175 29,116 109,919 34,452 22,155 47,566 — — 348,383 Current period gross charge-offs — — — — — — — — — Commercial real estate: Pass 3,401 58,552 10,560 1,757 5,651 9,515 — — 89,436 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 3,401 58,552 10,560 1,757 5,651 9,515 — — 89,436 Current period gross charge-offs — — — — — — — — — 1-4 family: Pass — 1,861 — — 4,296 11,776 — — 17,933 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total — 1,861 — — 4,296 11,776 — — 17,933 Current period gross charge-offs — — — — — — — — — Commercial: Pass 43,500 59,203 9,212 489 — 465 615,177 5,024 733,070 Special Mention — — — — — — 3,988 — 3,988 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 43,500 59,203 9,212 489 — 465 619,165 5,024 737,058 Current period gross charge-offs — — — — — 5 — — 5 Consumer: Pass 5,414 5,397 56 358 1,106 32 2,240 — 14,603 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total 5,414 5,397 56 358 1,106 32 2,240 — 14,603 Current period gross charge-offs — 324 25 90 — — — — 439 Total: Pass 157,490 154,129 129,747 26,116 33,208 69,354 617,417 5,024 1,192,485 Special Mention — — — — — — 3,988 — 3,988 Substandard — — — 10,940 — — — — 10,940 Doubtful — — — — — — — — — Total loans $ 157,490 $ 154,129 $ 129,747 $ 37,056 $ 33,208 $ 69,354 $ 621,405 $ 5,024 $ 1,207,413 Total current period gross charge-offs $ — $ 324 $ 25 $ 90 $ — $ 5 $ — $ — $ 444

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	6 Months Ended
Share-Based Payment Plans (Tables)	Jun. 30, 2024
Share-Based Payment Plans:
Schedule of activity related to stock options	Six Months Ended June 30, 2024 Weighted Weighted Average Average Remaining Exercise Contractual Options Price Life (Years) Outstanding at beginning of year 639,519 $ 20.76 Granted — — Exercised (11,416) 16.21 Forfeited (834) 45.91 Expired — — Outstanding at period end 627,269 $ 20.81 3.90 Vested or expected to vest 627,269 $ 20.81 3.90 Exercisable at period end 528,970 $ 16.72 3.00
Schedule of stock option exercises during the period	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Intrinsic value of options exercised $ 8 $ 88 $ 377 $ 330 Cash received from option exercises — 6 173 53 Excess tax benefit from option exercises 1 16 84 73
Schedule of activity related to restricted stock	Six Months Ended June 30, 2024 Weighted Average Grant Date Shares Fair Value Outstanding at beginning of year 514,935 $ 32.44 Granted — — Vested (20,503) 19.25 Forfeited — — Outstanding at period end 494,432 $ 32.98

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Jun. 30, 2024
Earnings per Share:
Schedule of components used in computation of earnings per share	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (Dollars in thousands, except per share data) Basic: Net income $ 10,487 $ 9,113 $ 20,545 $ 21,292 Weighted average shares outstanding 7,798,441 7,708,350 7,792,664 7,708,546 Basic earnings per share $ 1.34 $ 1.18 $ 2.64 $ 2.76 Diluted: Net income $ 10,487 $ 9,113 $ 20,545 $ 21,292 Weighted average shares outstanding for basic earnings per share 7,798,441 7,708,350 7,792,664 7,708,546 Add: Dilutive effects of share based awards 604,309 591,354 609,455 592,603 Weighted average shares and dilutive potential shares 8,402,750 8,299,704 8,402,119 8,301,149 Diluted earnings per share $ 1.25 $ 1.10 $ 2.45 $ 2.57

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2024
Leases:
Schedule of minimum annual rental commitments, exclusive of taxes and other charges, under under non-cancellable lease agreements	Operating Lease Liabilities (In thousands) 2024 $ 396 2025 803 2026 754 2027 — 2028 — Thereafter — Total operating lease payments 1,953 Less: interest 122 Present value of operating lease liabilities $ 1,831
Schedule of weighted-average remaining term and discount rates associated with non-cancelable lease agreements	June 30, 2024 2023 Weighted-average remaining lease term 2.42 years 3.42 years Weighted-average discount rate 3.29 % 3.29 %
Schedule of total lease cost components	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Operating lease cost $ 158 $ 156 $ 315 $ 315 Short-term lease cost 25 62 59 121 Total lease cost $ 183 $ 218 $ 374 $ 436 Cash paid for operating leases $ 220 $ 220 $ 447 $ 436

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2024
Fair Value Measurements:
Schedule of assets and liabilities 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, 2024 Assets Securities available-for-sale Mortgage-backed securities – agency $ — $ 87,318 $ — CMOs – agency — 89,496 — Total available-for-sale $ — $ 176,814 $ — December 31, 2023 Assets Securities available-for-sale Mortgage-backed securities – agency $ — $ 91,010 $ — CMOs – agency — 31,097 — Total available-for-sale $ — $ 122,107 $ —
Schedule of carrying amounts and fair values (exit prices) of financial instruments not carried at fair value	Fair Value Measurement at June 30, 2024, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total (In thousands) Financial Assets: Cash and cash equivalents $ 152,733 $ 152,733 $ — $ — $ 152,733 Securities, held-to-maturity 73,062 — 64,777 — 64,777 Securities, restricted, at cost 3,034 N/A N/A N/A N/A Loans held for investment, net 1,242,541 — — 1,222,508 1,222,508 Accrued interest receivable 9,170 — 855 8,315 9,170 Financial Liabilities: Time deposits 11,952 — 11,902 — 11,902 Demand and other deposits 1,474,941 1,474,941 — — 1,474,941 Secured borrowings 43 — — 43 43 Accrued interest payable 6 — 6 — 6 Fair Value Measurement at December 31, 2023, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total (In thousands) Financial Assets: Cash and cash equivalents $ 165,209 $ 165,209 $ — $ — $ 165,209 Securities, held-to-maturity 77,001 — 69,116 — 69,116 Securities, restricted, at cost 2,928 N/A N/A N/A N/A Loans held for investment, net 1,190,782 — — 1,172,226 1,172,226 Accrued interest receivable 9,130 — 579 8,551 9,130 Financial Liabilities: Time deposits 7,761 — 7,647 — 7,647 Demand and other deposits 1,399,538 1,399,538 — — 1,399,538 Secured borrowings 44 — — 44 44 Accrued interest payable 11 — 11 — 11

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
Accumulated Other Comprehensive (Loss) Income (Tables)	Jun. 30, 2024
Accumulated Other Comprehensive Loss:
Schedule of changes in accumulated other comprehensive loss by component, net of tax	Three Months Ended Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Unrealized (Losses) Gains on Securities Available-for-Sale Beginning balance $ (14,369) $ (13,732) $ (13,235) $ (15,117) Other comprehensive income (loss) before reclassifications, net of tax 128 (710) (1,006) 675 Net current period other comprehensive income (loss) 128 (710) (1,006) 675 Ending balance $ (14,241) $ (14,442) $ (14,241) $ (14,442)

Basis and Summary of Signific_3

Basis and Summary of Significant Accounting Policies - Equity Investments (Details) - USD ($) $ in Thousands		6 Months Ended
	Apr. 01, 2022	Jun. 30, 2024	Dec. 31, 2023
Legacy NFL Portfolio \| Discontinued Operations, Disposed of by Means Other than Sale, Exchange [Member]
Schedule of Equity Method Investments [Line Items]
Post-settlement loan portfolio fair value	$ 13,500
Non-voting Interest in VIE
Schedule of Equity Method Investments [Line Items]
Equity investment carrying amount		$ 10,100	$ 10,600
Equity investments remaining useful life		4 years 9 months 18 days
Gain (loss) on equity investment		$ (500)

Debt Securities - Summary of re

Debt Securities - Summary of reconciliation of amortized cost to fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 196,457	$ 140,362
Gross Unrealized Gains	166	270
Gross Unrealized Losses	(19,809)	(18,525)
Fair Value	176,814	122,107
Mortgage-backed securities - agency
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	104,774	107,396
Gross Unrealized Gains	0	6
Gross Unrealized Losses	(17,456)	(16,392)
Fair Value	87,318	91,010
Collateralized mortgage obligations (CMO's) - agency
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	91,683	32,966
Gross Unrealized Gains	166	264
Gross Unrealized Losses	(2,353)	(2,133)
Fair Value	$ 89,496	$ 31,097

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, 2024	Dec. 31, 2023
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	$ 73,062	$ 77,001
Gross Unrecognized Gains	0	9
Gross Unrecognized Losses	(8,285)	(7,894)
Fair Value	64,777	69,116
Collateralized mortgage obligations (CMO's) - agency
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	73,062	77,001
Gross Unrecognized Gains	0	9
Gross Unrecognized Losses	(8,285)	(7,894)
Fair Value	$ 64,777	$ 69,116

Debt Securities - Summary of un

Debt Securities - Summary of unrealized loss position, available for sale securities (Details) - Temporarily Impaired Securities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Fair Value, Less than 12 Months	$ 58,278	$ 3,143
Gross Unrealized Losses, Less than 12 Months	(313)	(17)
Fair Value, 12 Months or Longer	92,645	99,258
Gross Unrealized Losses, 12 Months or Longer	(19,496)	(18,508)
Fair Value, Total	150,923	102,401
Gross Unrealized Losses, Total	(19,809)	(18,525)
Residential Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale [Line Items]
Fair Value, Less than 12 Months	6,439	3,143
Gross Unrealized Losses, Less than 12 Months	(94)	(17)
Fair Value, 12 Months or Longer	80,879	86,082
Gross Unrealized Losses, 12 Months or Longer	(17,362)	(16,375)
Fair Value, Total	87,318	89,225
Gross Unrealized Losses, Total	(17,456)	(16,392)
Collateralized mortgage obligations (CMO's) - agency
Debt Securities, Available-for-Sale [Line Items]
Fair Value, Less than 12 Months	51,839
Gross Unrealized Losses, Less than 12 Months	(219)
Fair Value, 12 Months or Longer	11,766	13,176
Gross Unrealized Losses, 12 Months or Longer	(2,134)	(2,133)
Fair Value, Total	63,605	13,176
Gross Unrealized Losses, Total	$ (2,353)	$ (2,133)

Debt Securities - Summary of _3

Debt Securities - Summary of unrealized loss position, held to maturity securities (Details) - Temporarily Impaired Securities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Held-to-Maturity Securities [Line Items]
Fair Value, Less than 12 Months	$ 4,957
Gross Unrecognized Losses, Less than 12 Months	(40)
Fair Value, 12 Months or Longer	59,820	$ 63,739
Gross Unrecognized Losses, 12 Months or Longer	(8,245)	(7,894)
Fair Value, Total	64,777	63,739
Gross Unrecognized Losses, Total	(8,285)	(7,894)
Collateralized mortgage obligations (CMO's) - agency
Schedule of Held-to-Maturity Securities [Line Items]
Fair Value, Less than 12 Months	4,957
Gross Unrecognized Losses, Less than 12 Months	(40)
Fair Value, 12 Months or Longer	59,820	63,739
Gross Unrecognized Losses, 12 Months or Longer	(8,245)	(7,894)
Fair Value, Total	64,777	63,739
Gross Unrecognized Losses, Total	$ (8,285)	$ (7,894)

Debt Securities - Additional In

Debt Securities - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Sales or calls of securities	$ 0	$ 0
Fair value of pledged securities	3,034,000		$ 2,928,000
Available-for-sale securities, allowance for credit losses	0
Held-to-maturity securities, allowance for credit losses	0
Accrued interest receivable on securities	786,000		515,000
Federal Home Loan Bank Advances
Debt Securities, Available-for-Sale [Line Items]
Short-term debt	0
Federal Reserve Bank Advances
Debt Securities, Available-for-Sale [Line Items]
Short-term debt	0
Federal Reserve Bank of New York (FRB)
Debt Securities, Available-for-Sale [Line Items]
Fair value of pledged securities	56,000,000		59,700,000
Securities pledged borrowed amount	54,400,000		58,000,000
Federal Home Loan Bank of New York (FHLB)
Debt Securities, Available-for-Sale [Line Items]
Fair value of pledged securities	185,600,000		131,500,000
Securities pledged borrowed amount	$ 175,100,000		$ 125,700,000

Loans - Summary of loan composi

Loans - Summary of loan compositions by class (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	$ 1,261,412	$ 1,208,081
Deferred loan fees and unearned premiums, net	(350)	(668)
Allowance for credit losses	(18,521)	(16,631)	$ (14,179)
Loans, net of allowance	1,242,541	1,190,782
Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	455,809	455,676
Real Estate \| Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	352,097	348,241
Allowance for credit losses	(3,403)	(3,236)	(2,423)
Real Estate \| Commercial Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	88,376	89,498
Allowance for credit losses	(744)	(823)	(867)
Real Estate \| 1-4 Family
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	15,336	17,937
Allowance for credit losses	(55)	(58)	(65)
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	786,593	737,914
Allowance for credit losses	(13,535)	(12,056)	(10,566)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total loans held for investment	19,010	14,491
Allowance for credit losses	$ (784)	$ (458)	$ (258)

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Allowance for loan losses:
Beginning allowance balance			$ 16,631
Provision (credit) for credit losses	$ 1,000	$ 1,325	2,000	$ 1,825
Recoveries	5	16	24	16
Loans charged-off	(7)	(114)	(134)	(168)
Ending allowance balance	18,521	14,179	18,521	14,179
Accounting Standards Update 2016-13 \| Adjusted for Change in Accounting Principal
Allowance for loan losses:
Beginning allowance balance				283
Accounting Standards Update 2016-13 \| Previously Reported
Allowance for loan losses:
Beginning allowance balance	17,523	12,952		12,223
Real Estate \| Multifamily
Allowance for loan losses:
Beginning allowance balance			3,236
Provision (credit) for credit losses	92	317	167	398
Recoveries	0	0
Loans charged-off	0	0
Ending allowance balance	3,403	2,423	3,403	2,423
Real Estate \| Multifamily \| Accounting Standards Update 2016-13 \| Adjusted for Change in Accounting Principal
Allowance for loan losses:
Beginning allowance balance				8
Real Estate \| Multifamily \| Accounting Standards Update 2016-13 \| Previously Reported
Allowance for loan losses:
Beginning allowance balance	3,311	2,106		2,017
Real Estate \| Commercial Real Estate
Allowance for loan losses:
Beginning allowance balance			823
Provision (credit) for credit losses	(47)	(18)	(79)	(46)
Recoveries	0	0
Loans charged-off	0	0
Ending allowance balance	744	867	744	867
Real Estate \| Commercial Real Estate \| Accounting Standards Update 2016-13 \| Adjusted for Change in Accounting Principal
Allowance for loan losses:
Beginning allowance balance				(109)
Real Estate \| Commercial Real Estate \| Accounting Standards Update 2016-13 \| Previously Reported
Allowance for loan losses:
Beginning allowance balance	791	885		1,022
Real Estate \| 1-4 Family
Allowance for loan losses:
Beginning allowance balance			58
Provision (credit) for credit losses	(6)	11	(3)	4
Recoveries	0	0
Loans charged-off	0	0
Ending allowance balance	55	65	55	65
Real Estate \| 1-4 Family \| Accounting Standards Update 2016-13 \| Adjusted for Change in Accounting Principal
Allowance for loan losses:
Beginning allowance balance				(131)
Real Estate \| 1-4 Family \| Accounting Standards Update 2016-13 \| Previously Reported
Allowance for loan losses:
Beginning allowance balance	61	54		192
Commercial
Allowance for loan losses:
Beginning allowance balance			12,056
Provision (credit) for credit losses	904	983	1,479	1,412
Recoveries	0	0
Loans charged-off	0	(5)		(5)
Ending allowance balance	13,535	10,566	13,535	10,566
Commercial \| Accounting Standards Update 2016-13 \| Adjusted for Change in Accounting Principal
Allowance for loan losses:
Beginning allowance balance				514
Commercial \| Accounting Standards Update 2016-13 \| Previously Reported
Allowance for loan losses:
Beginning allowance balance	12,631	9,588		8,645
Consumer
Allowance for loan losses:
Beginning allowance balance			458
Provision (credit) for credit losses	57	32	436	57
Recoveries	5	16	24	16
Loans charged-off	(7)	(109)	(134)	(163)
Ending allowance balance	784	258	$ 784	258
Consumer \| Accounting Standards Update 2016-13 \| Adjusted for Change in Accounting Principal
Allowance for loan losses:
Beginning allowance balance				1
Consumer \| Accounting Standards Update 2016-13 \| Previously Reported
Allowance for loan losses:
Beginning allowance balance	$ 729	$ 319		$ 347

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, 2024	Dec. 31, 2023	Jun. 30, 2023
Ending allowance balance attributable to loans:
Total ending allowance balance	$ 18,521	$ 16,631	$ 14,179
Loans:
Total ending loans balance	1,261,412	1,208,081
Real Estate
Loans:
Total ending loans balance	455,809	455,676
Real Estate \| Multifamily
Ending allowance balance attributable to loans:
Total ending allowance balance	3,403	3,236	2,423
Loans:
Total ending loans balance	352,097	348,241
Collateral dependent nonaccrual loans	10,900
Real Estate \| Commercial Real Estate
Ending allowance balance attributable to loans:
Total ending allowance balance	744	823	867
Loans:
Total ending loans balance	88,376	89,498
Real Estate \| 1-4 Family
Ending allowance balance attributable to loans:
Total ending allowance balance	55	58	65
Loans:
Total ending loans balance	15,336	17,937
Commercial
Ending allowance balance attributable to loans:
Total ending allowance balance	13,535	12,056	10,566
Loans:
Total ending loans balance	786,593	737,914
Consumer
Ending allowance balance attributable to loans:
Total ending allowance balance	784	458	$ 258
Loans:
Total ending loans balance	$ 19,010	$ 14,491

Loans - Summary of loans by pas

Loans - Summary of loans by past due status (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	$ 10,940	$ 10,940
Total Past Due & Nonaccrual Loans	11,081	11,074
Loans Not Past Due	1,250,331	1,197,007
Loans held for investment	1,261,412	1,208,081
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due Loans	69	24
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due Loans	1	41
Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due Loans	71	69
Real Estate
Financing Receivable, Past Due [Line Items]
Loans held for investment	455,809	455,676
Real Estate \| Multifamily
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans	10,940	10,940
Total Past Due & Nonaccrual Loans	10,940	10,940
Loans Not Past Due	341,157	337,301
Loans held for investment	352,097	348,241
Real Estate \| Commercial Real Estate
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	88,376	89,498
Loans held for investment	88,376	89,498
Real Estate \| 1-4 Family
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	15,336	17,937
Loans held for investment	15,336	17,937
Commercial
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	786,593	737,914
Loans held for investment	786,593	737,914
Consumer
Financing Receivable, Past Due [Line Items]
Total Past Due & Nonaccrual Loans	141	134
Loans Not Past Due	18,869	14,357
Loans held for investment	19,010	14,491
Consumer \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due Loans	69	24
Consumer \| 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due Loans	1	41
Consumer \| Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due Loans	$ 71	$ 69

Loans - Summary of loans by cre

Loans - Summary of loans by credit quality indicator based on internally assigned credit grade (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	$ 1,261,062	$ 1,207,413
Current period gross charge-offs	134	444
Federal Home Loan Bank Advances
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Pledged to FHLB	215,700	222,400
Maximum borrowing capacity	149,700	158,500
2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	47,765
2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	156,594	157,490
2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	127,345	154,129
Current period gross charge-offs	134	324
2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	127,450	129,747
Current period gross charge-offs		25
2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	36,629	37,056
Current period gross charge-offs		90
2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		33,208
2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	88,657
2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		69,354
Current period gross charge-offs		5
Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	673,279	621,405
Revolving-Term
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,343	5,024
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,246,135	1,192,485
Pass \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	47,765
Pass \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	156,594	157,490
Pass \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	127,345	154,129
Pass \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	127,450	129,747
Pass \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	25,689	26,116
Pass \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		33,208
Pass \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	88,657
Pass \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		69,354
Pass \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	669,292	617,417
Pass \| Revolving-Term
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,343	5,024
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,987	3,988
Special Mention \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,987	3,988
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	10,940	10,940
Substandard \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	10,940	10,940
Real Estate \| Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	352,276	348,383
Real Estate \| Multifamily \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	18,572
Real Estate \| Multifamily \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	105,040	105,175
Real Estate \| Multifamily \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	26,925	29,116
Real Estate \| Multifamily \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	108,776	109,919
Real Estate \| Multifamily \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	34,196	34,452
Real Estate \| Multifamily \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		22,155
Real Estate \| Multifamily \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	58,767
Real Estate \| Multifamily \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		47,566
Real Estate \| Multifamily \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	341,336	337,443
Real Estate \| Multifamily \| Pass \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	18,572
Real Estate \| Multifamily \| Pass \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	105,040	105,175
Real Estate \| Multifamily \| Pass \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	26,925	29,116
Real Estate \| Multifamily \| Pass \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	108,776	109,919
Real Estate \| Multifamily \| Pass \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	23,256	23,512
Real Estate \| Multifamily \| Pass \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		22,155
Real Estate \| Multifamily \| Pass \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	58,767
Real Estate \| Multifamily \| Pass \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		47,566
Real Estate \| Multifamily \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	10,940	10,940
Real Estate \| Multifamily \| Substandard \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	10,940	10,940
Real Estate \| Commercial Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	88,315	89,436
Real Estate \| Commercial Real Estate \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,100	3,401
Real Estate \| Commercial Real Estate \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	58,132	58,552
Real Estate \| Commercial Real Estate \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	10,439	10,560
Real Estate \| Commercial Real Estate \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,736	1,757
Real Estate \| Commercial Real Estate \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		5,651
Real Estate \| Commercial Real Estate \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	14,908
Real Estate \| Commercial Real Estate \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		9,515
Real Estate \| Commercial Real Estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	88,315	89,436
Real Estate \| Commercial Real Estate \| Pass \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,100	3,401
Real Estate \| Commercial Real Estate \| Pass \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	58,132	58,552
Real Estate \| Commercial Real Estate \| Pass \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	10,439	10,560
Real Estate \| Commercial Real Estate \| Pass \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,736	1,757
Real Estate \| Commercial Real Estate \| Pass \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		5,651
Real Estate \| Commercial Real Estate \| Pass \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	14,908
Real Estate \| Commercial Real Estate \| Pass \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		9,515
Real Estate \| 1-4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	15,337	17,933
Real Estate \| 1-4 Family \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,842	1,861
Real Estate \| 1-4 Family \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		4,296
Real Estate \| 1-4 Family \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	13,495
Real Estate \| 1-4 Family \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		11,776
Real Estate \| 1-4 Family \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	15,337	17,933
Real Estate \| 1-4 Family \| Pass \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,842	1,861
Real Estate \| 1-4 Family \| Pass \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		4,296
Real Estate \| 1-4 Family \| Pass \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	13,495
Real Estate \| 1-4 Family \| Pass \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		11,776
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	786,073	737,058
Current period gross charge-offs		5
Commercial \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	27,851
Commercial \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	43,864	43,500
Commercial \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	36,882	59,203
Commercial \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	8,235	9,212
Commercial \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	368	489
Commercial \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	435
Commercial \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		465
Current period gross charge-offs		5
Commercial \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	665,095	619,165
Commercial \| Revolving-Term
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,343	5,024
Commercial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	782,086	733,070
Commercial \| Pass \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	27,851
Commercial \| Pass \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	43,864	43,500
Commercial \| Pass \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	36,882	59,203
Commercial \| Pass \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	8,235	9,212
Commercial \| Pass \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	368	489
Commercial \| Pass \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	435
Commercial \| Pass \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		465
Commercial \| Pass \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	661,108	615,177
Commercial \| Pass \| Revolving-Term
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,343	5,024
Commercial \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,987	3,988
Commercial \| Special Mention \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,987	3,988
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	19,061	14,603
Current period gross charge-offs	134	439
Consumer \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,342
Consumer \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	4,590	5,414
Consumer \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,564	5,397
Current period gross charge-offs	134	324
Consumer \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		56
Current period gross charge-offs		25
Consumer \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	329	358
Current period gross charge-offs		90
Consumer \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		1,106
Consumer \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,052
Consumer \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		32
Consumer \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	8,184	2,240
Consumer \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	19,061	14,603
Consumer \| Pass \| 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,342
Consumer \| Pass \| 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	4,590	5,414
Consumer \| Pass \| 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	3,564	5,397
Consumer \| Pass \| 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		56
Consumer \| Pass \| 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	329	358
Consumer \| Pass \| 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		1,106
Consumer \| Pass \| 2019 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	1,052
Consumer \| Pass \| 2018 and Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade		32
Consumer \| Pass \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Non-revolving loans internally assigned grade	$ 8,184	$ 2,240

Noninterest Income (Details)

Noninterest Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Noninterest Income (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Noninterest income
Total non-interest income	$ 6,275	$ 6,695	$ 12,664	$ 16,957
Non-voting Interest in VIE
Noninterest income
Gain (loss) on equity investment			(500)
Total Payment Processing Fees
Noninterest income
Total non-interest income	5,322	5,764	10,618	11,277
Payment Processing Income
Noninterest income
Total non-interest income	5,140	5,550	10,240	10,850
ACH Income
Noninterest income
Total non-interest income	182	214	378	427
Total Customer Related Fees, Service Charges and Other
Noninterest income
Total non-interest income	953	931	2,046	5,680
Administrative Service Income
Noninterest income
Total non-interest income	620	739	1,366	1,268
Gain on Equity Investment (1)
Noninterest income
Total non-interest income				4,027
Other
Noninterest income
Total non-interest income	$ 333	$ 192	$ 680	$ 385

Share-Based Payment Plans - (De

Share-Based Payment Plans - (Details)	6 Months Ended
Share-Based Payment Plans - (Details)	Jun. 30, 2024
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

Share-Based Payment Plans - Sum

Share-Based Payment Plans - Summary of options activity (Details) - Stock Options	6 Months Ended
	Jun. 30, 2024 $ / shares shares	Jun. 30, 2023 shares
Options
Outstanding at beginning of year \| shares	639,519
Granted \| shares	0	0
Exercised \| shares	(11,416)
Forfeited \| shares	(834)
Outstanding at period end \| shares	627,269
Vested or expected to vest \| shares	627,269
Exercisable at period end \| shares	528,970
Weighted Average Exercise Price
Outstanding at beginning of year \| $ / shares	$ 20.76
Granted \| $ / shares	0
Exercised \| $ / shares	16.21
Forfeited \| $ / shares	45.91
Outstanding at period end \| $ / shares	20.81
Vested or expected to vest \| $ / shares	20.81
Exercisable at period end \| $ / shares	$ 16.72
Weighted Average Remaining Contractual Life (Years), outstanding at period end	3 years 10 months 24 days
Weighted Average Remaining Contractual Life (Years), vested or expected to vest	3 years 10 months 24 days
Weighted Average Remaining Contractual Life (Years), exercisable at period end	3 years

Share-Based Payment Plans - Inf

Share-Based Payment Plans - Information Related to Stock Option Exercises (Details) - Stock Options - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Intrinsic value of options exercised	$ 8	$ 88	$ 377	$ 330
Cash received from option exercises		6	173	53
Excess tax benefit from option exercises	$ 1	$ 16	$ 84	$ 73

Share-Based Payment Plans - S_2

Share-Based Payment Plans - Summary of restricted stock activity (Details) - Restricted stock	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Outstanding at beginning of year \| shares	514,935
Vested \| shares	(20,503)
Outstanding at period end \| shares	494,432
Weighted Average Grant Date Fair Value
Outstanding at beginning of year \| $ / shares	$ 32.44
Vested \| $ / shares	19.25
Outstanding at period end \| $ / shares	$ 32.98

Share-Based Payment Plans - Add

Share-Based Payment Plans - Additional disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options expense			$ 1,929	$ 1,578
Exercise of stock options, net of repurchases			$ 173	$ 53
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted in period			0	0
Stock options expense	$ 188	$ 159	$ 368	$ 326
Unrecognized compensation cost related to non-vested options	1,100		$ 1,100
Recognition period of nonvested stock options			1 year 11 months 19 days
Intrinsic value of outstanding options	16,800		$ 16,800
Intrinsic value of exercisable options	16,300		16,300
Excess tax benefit from option exercises	1	16	84	73
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options expense	774	$ 629	1,600	$ 1,300
Unrecognized compensation cost related to non-vested options	$ 10,600		$ 10,600
Recognition period of nonvested stock options			4 years 3 months 7 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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic
Net income	$ 10,487	$ 9,113	$ 20,545	$ 21,292
Weighted average shares outstanding for basic earnings per share	7,798,441	7,708,350	7,792,664	7,708,546
Basic earnings per share (in dollars per share)	$ 1.34	$ 1.18	$ 2.64	$ 2.76
Diluted
Net income	$ 10,487	$ 9,113	$ 20,545	$ 21,292
Weighted average shares outstanding for basic earnings per share	7,798,441	7,708,350	7,792,664	7,708,546
Add: Dilutive effects of share based awards	604,309	591,354	609,455	592,603
Weighted average shares and dilutive potential common shares	8,402,750	8,299,704	8,402,119	8,301,149
Diluted earnings per share (in dollars per share)	$ 1.25	$ 1.10	$ 2.45	$ 2.57
Stock options and restricted shares not considered in computing diluted earnings per share because they were anti-dilutive	93,996	50,500	93,996	50,500

Leases (Details)

Leases (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Leases:
ROU lease assets	$ 1.4	$ 1.7
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Operating lease liability	$ 1.8	$ 2.2
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Commitment amount for operating lease not yet commenced	$ 2.6
Term of operating lease not yet commenced	10 years

Leases - Maturities of operatin

Leases - Maturities of operating lease (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Maturities of operating lease liabilities
2024	$ 396
2025	803
2026	754
Total lease payments	1,953
Less: interest	122
Present value of operating lease liabilities	$ 1,831

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lease cost
Weighted-average remaining lease term	2 years 5 months 1 day	3 years 5 months 1 day	2 years 5 months 1 day	3 years 5 months 1 day
Weighted-average discount rate	3.29%	3.29%	3.29%	3.29%
Operating lease cost	$ 158	$ 156	$ 315	$ 315
Short-term lease cost	25	62	59	121
Total lease cost	183	218	374	436
Cash paid for operating leases	$ 220	$ 220	$ 447	$ 436

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, 2024	Dec. 31, 2023
Available-for-sale securities
Total available-for-sale	$ 176,814	$ 122,107
Debt Securities, Held-to-Maturity, Fair Value [Abstract]
Securities held to maturity, fair value	64,777	69,116
Residential Mortgage-Backed Securities [Member]
Available-for-sale securities
Total available-for-sale	87,318	91,010
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Available-for-sale securities
Total available-for-sale	89,496	31,097
Debt Securities, Held-to-Maturity, Fair Value [Abstract]
Securities held to maturity, fair value	64,777	69,116
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities
Total available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Residential Mortgage-Backed Securities [Member]
Available-for-sale securities
Total available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Available-for-sale securities
Total available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities
Total available-for-sale	176,814	122,107
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Residential Mortgage-Backed Securities [Member]
Available-for-sale securities
Total available-for-sale	87,318	91,010
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Available-for-sale securities
Total available-for-sale	89,496	31,097
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
Total available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Residential Mortgage-Backed Securities [Member]
Available-for-sale securities
Total available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Available-for-sale securities
Total available-for-sale	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financial Assets:
Securities, held to maturity	$ 73,062	$ 77,001
Securities, restricted, at cost	3,034	2,928
Loans held for investment, net	1,242,541	1,190,782
Accrued interest receivable	9,170	9,130
Financial Liabilities:
Time deposits	11,952	7,761
Reported Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	152,733	165,209
Securities, held to maturity	73,062	77,001
Securities, restricted, at cost	3,034	2,928
Loans held for investment, net	1,242,541	1,190,782
Accrued interest receivable	9,170	9,130
Financial Liabilities:
Time deposits	11,952	7,761
Demand and other deposits	1,474,941	1,399,538
Secured borrowings	43	44
Accrued interest payable	6	11
Estimate of Fair Value Measurement [Member]
Financial Assets:
Cash and cash equivalents	152,733	165,209
Securities, held to maturity	64,777	69,116
Loans held for investment, net	1,222,508	1,172,226
Accrued interest receivable	9,170	9,130
Financial Liabilities:
Time deposits	11,902	7,647
Demand and other deposits	1,474,941	1,399,538
Secured borrowings	43	44
Accrued interest payable	6	11
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Financial Assets:
Cash and cash equivalents	152,733	165,209
Loans held for investment, net	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Time deposits		0
Demand and other deposits	1,474,941	1,399,538
Secured borrowings	0	0
Accrued interest payable	0
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Financial Assets:
Cash and cash equivalents	0	0
Securities, held to maturity	64,777	69,116
Loans held for investment, net	0	0
Accrued interest receivable	855	579
Financial Liabilities:
Time deposits	11,902	7,647
Demand and other deposits	0	0
Secured borrowings	0	0
Accrued interest payable	6	11
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Financial Assets:
Cash and cash equivalents	0	0
Loans held for investment, net	1,222,508	1,172,226
Accrued interest receivable	8,315	8,551
Financial Liabilities:
Time deposits		0
Demand and other deposits	0	0
Secured borrowings	43	$ 44
Accrued interest payable	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Summary of changes in accumulated other comprehensive income (loss) by component, net of tax (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unrealized (Losses) Gains on Available-for-Sale Securities
Beginning balance	$ (14,369,000)	$ (13,732,000)	$ (13,235,000)	$ (15,117,000)
Other comprehensive (loss) income before reclassifications, net of tax	128,000	(710,000)	(1,006,000)	675,000
Net current period other comprehensive income (loss)	128,000	(710,000)	(1,006,000)	675,000
Ending balance	$ (14,241,000)	$ (14,442,000)	(14,241,000)	(14,442,000)
Reclassifications			$ 0	$ 0