Sound Financial Bancorp (SFBC) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-35633
Entity Registrant Name	Sound Financial Bancorp, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-5188530
Entity Address, Address Line One	2400 3rd Avenue,
Entity Address, Address Line Two	Suite 150,
Entity Address, City or Town	Seattle,
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98121
City Area Code	206
Local Phone Number	448-0884
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	SFBC
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		2,616,431
Entity Central Index Key	0001541119
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 197,091	$ 183,590
Available-for-sale securities, at fair value	10,223	8,419
Held-to-maturity securities, at amortized cost	2,223	0
Loans held-for-sale	1,297	3,094
Loans held-for-portfolio	709,485	686,398
Allowance for loan losses	(6,407)	(6,306)
Total loans held-for-portfolio, net	703,078	680,092
Accrued interest receivable	2,117	2,217
Bank-owned life insurance (“BOLI”), net	21,116	21,095
Other real estate owned (“OREO”) and repossessed assets, net	659	659
Mortgage servicing rights, at fair value	4,668	4,273
Federal Home Loan Bank (“FHLB”) stock, at cost	1,117	1,046
Premises and equipment, net	5,730	5,819
Right of use assets	5,777	5,811
Other assets	3,758	3,576
Total assets	958,854	919,691
Deposits
Interest-bearing	627,323	607,854
Noninterest-bearing demand	208,768	190,466
Total deposits	836,091	798,320
Accrued interest payable	38	200
Lease liabilities	6,211	6,242
Other liabilities	9,169	8,571
Advance payments from borrowers for taxes and insurance	1,851	1,366
Subordinated notes, net	11,644	11,634
Total liabilities	865,004	826,333
COMMITMENTS AND CONTINGENCIES	0	0
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value, 40,000,000 shares authorized, 2,621,531 and 2,613,768 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	26	26
Additional paid-in capital	28,154	27,956
Retained earnings	66,139	65,237
Accumulated other comprehensive income, net of tax	(469)	139
Total stockholders’ equity	93,850	93,358
Total liabilities and stockholders’ equity	$ 958,854	$ 919,691

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
STOCKHOLDERS’ EQUITY
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	2,621,531	2,613,768
Common stock, shares outstanding (in shares)	2,621,531	2,613,768

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
INTEREST INCOME
Loans, including fees	$ 8,075	$ 7,886
Interest and dividends on investments, cash and cash equivalents	138	113
Total interest income	8,213	7,999
INTEREST EXPENSE
Deposits	427	1,295
Subordinated notes	168	168
Total interest expense	595	1,463
Net interest income	7,618	6,536
PROVISION FOR LOAN LOSSES	125	0
Net interest income after provision for loan losses	7,493	6,536
NONINTEREST INCOME
Service charges and fee income	549	532
Earnings on cash surrender value of bank-owned life insurance	21	82
Mortgage servicing income	320	312
Fair value adjustment on mortgage servicing rights	268	(275)
Net gain on sale of loans	365	2,053
Total noninterest income	1,523	2,704
NONINTEREST EXPENSE
Salaries and benefits	4,167	3,644
Operations	1,314	1,206
Regulatory assessments	101	101
Occupancy	432	448
Data processing	821	779
Net gain on OREO and repossessed assets	0	(16)
Total noninterest expense	6,835	6,162
Income before provision for income taxes	2,181	3,078
Provision for income taxes	458	627
Net income	$ 1,723	$ 2,451
Earnings per common share:
Basic (in dollars per share)	$ 0.66	$ 0.95
Diluted (in dollars per share)	$ 0.65	$ 0.93
Weighted-average number of common shares outstanding:
Basic (in shares)	2,602,168	2,571,726
Diluted (in shares)	2,640,359	2,610,986

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,723	$ 2,451
Available for sale securities:
Unrealized losses arising during the period	(770)	(59)
Income tax benefit related to unrealized losses	162	12
Other comprehensive loss, net of tax	(608)	(47)
Comprehensive income	$ 1,115	$ 2,404

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid -in Capital	Unearned ESOP Shares	Retained Earnings	Accumulated Other Comprehensive Income/(Loss), net of tax
Beginning balance (in shares) at Dec. 31, 2020		2,592,587
Beginning balance at Dec. 31, 2020	$ 85,484	$ 25	$ 27,106	$ (113)	$ 58,226	$ 240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,451				2,451
Other comprehensive income (loss), net of tax	(47)					(47)
Share-based compensation	166		166
Restricted stock awards issued (in shares)		10,168
Cash dividends paid on common stock	(702)				(702)
Common stock surrendered (in shares)		(3,029)
Restricted shares forfeited (in shares)		(1,470)
Common stock options exercised (in shares)		11,550
Common stock options exercised	104	$ 1	103
Allocation of ESOP shares	100		72	28
Ending balance (in shares) at Mar. 31, 2021		2,609,806
Ending balance at Mar. 31, 2021	$ 87,556	$ 26	27,447	$ (85)	59,975	193
Beginning balance (in shares) at Dec. 31, 2021	2,613,768	2,613,768
Beginning balance at Dec. 31, 2021	$ 93,358	$ 26	27,956		65,237	139
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,723				1,723
Other comprehensive income (loss), net of tax	(608)					(608)
Share-based compensation	203		203
Restricted stock awards issued (in shares)		9,700
Cash dividends paid on common stock	(709)				(709)
Common stock repurchased (in shares)		(4,008)
Common stock repurchased	(160)		(48)		(112)
Common stock surrendered (in shares)		(100)
Restricted shares forfeited (in shares)		(250)
Common stock options exercised (in shares)		2,421
Common stock options exercised	$ 43		43
Ending balance (in shares) at Mar. 31, 2022	2,621,531	2,621,531
Ending balance at Mar. 31, 2022	$ 93,850	$ 26	$ 28,154		$ 66,139	$ (469)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends paid on common stock (in dollars per share)	$ 0.27	$ 0.27

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,723	$ 2,451
Adjustments to reconcile net income to net cash from operating activities:
Amortization of net discounts on investments	24	56
Provision for loan losses	125	0
Depreciation and amortization	173	176
Compensation expense related to stock options and restricted stock	203	166
Fair value adjustment on mortgage servicing rights	(268)	275
Right of use assets amortization	34	247
Change in lease liabilities	(31)	(240)
Increase in cash surrender value of BOLI	(21)	(74)
Net change in advances from borrowers for taxes and insurance	485	578
Net gain on sale of loans	(365)	(2,053)
Proceeds from sale of loans held-for-sale	12,424	69,741
Originations of loans held-for-sale	(12,118)	(67,401)
Net gain on OREO and repossessed assets	0	(16)
Change in operating assets and liabilities:
Accrued interest receivable	100	94
Other assets	(20)	(337)
Accrued interest payable	(162)	(236)
Other liabilities	598	4,353
Net cash provided by operating activities	2,904	7,780
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of available-for-sale securities	(2,803)	0
Proceeds from principal payments, maturities and sales of available-for-sale securities	215	1,047
Purchase of held-to-maturity securities	(2,226)	0
Proceeds from principal payments of held-to-maturity securities	3	0
Net increase in loans	(21,382)	(1,079)
Purchase of BOLI	0	(28)
Purchases of premises and equipment, net	(84)	(29)
Proceeds from sale of OREO and other repossessed assets	0	35
Net cash used in investing activities	(26,277)	(54)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	37,771	68,712
FHLB stock purchased	(71)	(175)
Common stock repurchases	(160)	0
Allocation of ESOP shares	0	100
Dividends paid on common stock	(709)	(702)
Proceeds from common stock option exercises	43	104
Net cash provided by financing activities	36,874	68,039
Net change in cash and cash equivalents	13,501	75,765
Cash and cash equivalents, beginning of period	183,590	193,828
Cash and cash equivalents, end of period	197,091	269,593
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Interest paid on deposits and borrowings	$ 757	$ 1,699

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial information is unaudited and has been prepared from the consolidated financial statements of Sound Financial Bancorp, Inc., and its wholly owned subsidiaries, Sound Community Bank and Sound Community Insurance Agency, Inc. References in this document to Sound Financial Bancorp refer to Sound Financial Bancorp, Inc. and references to the “Bank” refer to Sound Community Bank. References to “we,” “us,” and “our” or the “Company” refers to Sound Financial Bancorp and its wholly-owned subsidiaries, Sound Community Bank and Sound Community Insurance Agency, Inc., unless the context otherwise requires. These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These unaudited financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on March 15, 2022 (“2021 Form 10-K”). The results for the interim periods are not necessarily indicative of results for a full year or any other future period. Certain amounts in the prior period’s consolidated financial statements have been reclassified to conform to the current presentation. These classifications do not have an impact on previously reported consolidated net income, stockholders’ equity or earnings per share.

Accounting Pronouncements Recen

Accounting Pronouncements Recently Issued or Adopted	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements Recently Issued or Adopted	Accounting Pronouncements Recently Issued or Adopted On March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, " Reference Rate Reform" ("Topic 848"). This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this update apply to contract modifications that replace a reference rate affected by reference rate reform (including rates referenced in fallback provisions) and contemporaneous modifications of other contract terms related to the replacement of the reference rate (including contract modifications to add or change fallback provisions). The following optional expedients for applying the requirements of certain Topics or Industry Subtopics in the Codification are permitted for contracts that are modified because of reference rate reform and that meet certain scope guidance: 1) Modifications of contracts within the scope of Topics 310, Receivables, and 470, Debt, should be accounted for by prospectively adjusting the effective interest rate; 2) Modifications of contracts within the scope of Topics 840, Leases, and 842, Leases, should be accounted for as a continuation of the existing contracts with no reassessments of the lease classification and the discount rate (for example, the incremental borrowing rate) or remeasurements of lease payments that otherwise would be required under those Topics for modifications not accounted for as separate contracts; and 3) Modifications of contracts do not require an entity to reassess its original conclusion about whether that contract contains an embedded derivative that is clearly and closely related to the economic characteristics and risks of the host contract under Subtopic 815-15, Derivatives and Hedging— Embedded Derivatives. In January 2021, ASU 2021-01 updated amendments in the new ASU to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification. The amendments in this ASU have differing effective dates, beginning with interim period including and subsequent to March 12, 2020 through December 31, 2022. The Company does not expect the adoption of ASU 2020-04 to have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and subsequent amendments to the initial guidance in November 2018, ASU No. 2018-19, April 2019, ASU 2019-04, May 2019, ASU 2019-05, November 2019, ASU 2019-11, February 2020, ASU 2020-02, and March 2020, ASU 2020-03, all of which clarifies codification and corrects unintended application of the guidance. This ASU replaces the existing incurred loss impairment methodology that recognizes credit losses when a probable loss has been incurred with new methodology where loss estimates are based upon lifetime expected credit losses. The amendments in this ASU require a financial asset that is measured at amortized cost to be presented at the net amount expected to be collected. The income statement would then reflect the measurement of credit losses for newly recognized financial assets as well as changes to the expected credit losses that have taken place during the reporting period. The change in allowance recognized as a result of adoption will occur through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the ASU is adopted. The new guidance may result in an increase in the allowance for loan losses; however, the Company is still in the process of determining the magnitude of the change and its impact on the Company's consolidated financial statements. The FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326) , delaying implementation of ASU No. 2016-13 for SEC smaller reporting company filers until fiscal years beginning after December 15, 2022. The Bank meets the requirements of a smaller reporting company and will delay implementation of ASU No. 2016-13. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminates the accounting guidance for troubled debt restructured loans (“TDRs”) by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases. This ASU will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, upon the Company’s adoption of the amendments in ASU 2016-13, which is commonly referred to as the current expected credit loss methodology.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Investments	Investments The Company classifies its debt investment securities in two categories: held-to-maturity (“HTM”) or available-for-sale (“AFS”). Unrealized holding gains or losses, net of the related tax effect, on AFS securities are excluded from income and are reported as a separate component of shareholders’ equity as accumulated other comprehensive income net of applicable taxes until realized. Recognized gains and losses from the sale of AFS securities are determined on a specific-identification basis. These securities are adjusted for the amortization or accretion of premiums or discounts. Securities classified as HTM are those that the Company has the positive intent and ability to hold until maturity. These securities are carried at amortized cost, adjusted for the amortization or accretion of premiums or discounts.The Company does not own any debt securities classified as trading or equity securities. The amortized cost and fair value of our AFS securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands): Amortized Gross Gross Estimated March 31, 2022 Municipal bonds $ 6,724 $ 74 $ (520) $ 6,278 Agency mortgage-backed securities 4,093 14 (162) 3,945 Total $ 10,817 $ 88 $ (682) $ 10,223 December 31, 2021 Municipal bonds $ 5,931 $ 148 $ (13) $ 6,066 Agency mortgage-backed securities 2,312 53 (12) 2,353 Total $ 8,243 $ 201 $ (25) $ 8,419 The amortized cost and fair value of our HTM securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands): Amortized Gross Gross Estimated March 31, 2022 Municipal bonds $ 705 $ — $ (87) $ 618 Agency mortgage-backed securities 1,518 — (80) 1,438 Total $ 2,223 $ — $ (167) $ 2,056 December 31, 2021 Municipal bonds $ — $ — $ — $ — Agency mortgage-backed securities — — — — Total $ — $ — $ — $ — The amortized cost and fair value of AFS and HTM securities at March 31, 2022, by contractual maturity, are shown below (in thousands). Expected maturities of AFS securities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Investments not due at a single maturity date, primarily mortgage-backed investments, are shown separately. March 31, 2022 Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Due within one year $ 260 $ 262 $ — $ — Due after one year through five years 151 155 — — Due after five years through ten years 1,226 1,279 — — Due after ten years 5,087 4,582 705 618 Agency mortgage-backed securities 4,093 3,945 1,518 1,438 Total $ 10,817 $ 10,223 $ 2,223 $ 2,056 There were no pledged securities at March 31, 2022 or December 31, 2021. There were no sales of AFS securities during the three months ended March 31, 2022 or 2021. There were no sales of HTM securities during the three months ended March 31, 2022. The following table summarizes the aggregate fair value and gross unrealized loss by length of time of those investments that have been in a continuous unrealized loss position at the dates indicated (in thousands): March 31, 2022 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities Municipal bonds $ 3,488 $ (520) $ — $ — $ 3,488 $ (520) Agency mortgage-backed securities 2,792 (117) 355 (45) 3,147 (162) Total available-for-sale securities $ 6,280 $ (637) $ 355 $ (45) $ 6,635 $ (682) Held-to-maturity securities Municipal bonds $ 618 $ (87) $ — $ — $ 618 $ (87) Agency mortgage-backed securities 1,438 (80) — — 1,438 (80) Total held-to-maturity securities $ 2,056 $ (167) $ — $ — $ 2,056 $ (167) December 31, 2021 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Municipal bonds $ 1,632 $ (13) $ — $ — $ 1,632 $ (13) Agency mortgage-backed securities $ — $ — $ 402 $ (12) $ 402 $ (12) Total $ 1,632 $ (13) $ 402 $ (12) $ 2,034 $ (25) There were no credit losses recognized in earnings related to other than temporary impairments during the three months ended March 31, 2022 or 2021. At March 31, 2022, the total securities portfolio consisted of 12 agency mortgage-backed securities and twelve municipal bonds with a total portfolio fair value of $12.3 million. At December 31, 2021, the securities portfolio consisted of 10 agency mortgage-backed securities and ten municipal bonds with a fair value of $8.4 million. At March 31, 2022, there were 13 securities in an unrealized loss position for less than 12 months, and one security in an unrealized loss position for more than 12 months. Of the 13 securities in an unrealized loss position for less than 12 months, two securities were classified as HTM. At December 31, 2021, there were two securities in an unrealized loss position for less than 12 months, and one security in an unrealized loss position for more than 12 months. The unrealized losses were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities, and not related to the underlying credit of the issuers or the underlying collateral. It is expected that these securities will not be settled at a price less than the amortized cost of each investment. The unrealized losses on these investments are not considered other-than-temporary impairment ("OTTI") as of March 31, 2022, because the decline in fair value is not attributable to credit quality and because we do not intend, and it is not likely that we will be required, to sell these securities before recovery of their amortized cost basis .

Loans

Loans	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Loans	90 Days and Accruing Total Past Current Total Loans One-to-four family $ 74 $ — $ 1,535 $ — $ 1,609 $ 220,223 $ 221,832 Home equity — — 136 — 136 13,662 13,798 Commercial and multifamily — — — — — 279,892 279,892 Construction and land 84 — — — 84 70,318 70,402 Manufactured homes 75 — 73 — 148 22,031 22,179 Floating homes — — — — — 59,784 59,784 Other consumer 249 12 — — 261 18,109 18,370 Commercial business — — 170 — 170 24,282 24,452 Total $ 482 $ 12 $ 1,914 $ — $ 2,408 $ 708,301 $ 710,709 December 31, 2021 30-59 Days 60-89 Days 90 Days and Greater Past Due > 90 Days and Accruing Total Past Current Total Loans One-to-four family $ 1,805 $ 58 $ 87 $ — $ 1,950 $ 205,710 $ 207,660 Home equity — — 140 — 140 13,110 13,250 Commercial and multifamily — — — — — 278,175 278,175 Construction and land 837 — — — 837 62,268 63,105 Manufactured homes 123 — 59 — 182 21,454 21,636 Floating homes — — 244 — 244 59,024 59,268 Other consumer 2 76 — — 78 16,670 16,748 Commercial business 6 — 176 — 182 27,844 28,026 Total $ 2,773 $ 134 $ 706 $ — $ 3,613 $ 684,255 $ 687,868 Nonperforming Loans. Loans are considered nonperforming when they are placed on nonaccrual. The following tables present the credit risk profile of our loan portfolio based on payment activity as of the dates indicated, by type of loan (in thousands): March 31, 2022 One-to-four Home Commercial Construction Manufactured Floating Other Commercial Total Performing $ 220,156 $ 13,643 $ 277,556 $ 70,371 $ 22,044 $ 59,784 $ 18,126 $ 24,282 $ 705,962 Nonperforming 1,676 155 2,336 31 135 — 244 170 4,747 Total $ 221,832 $ 13,798 $ 279,892 $ 70,402 $ 22,179 $ 59,784 $ 18,370 $ 24,452 $ 710,709 December 31, 2021 One-to-four Home Commercial Construction Manufactured Floating Other Commercial Total Performing $ 205,453 $ 13,110 $ 275,795 $ 63,072 $ 21,514 $ 58,775 $ 16,748 $ 27,850 $ 682,316 Nonperforming 2,207 140 2,380 33 122 493 — 176 5,552 Total $ 207,660 $ 13,250 $ 278,175 $ 63,105 $ 21,636 $ 59,268 $ 16,748 $ 28,026 $ 687,868 Impaired Loans. A loan is considered impaired when we determine that we may be unable to collect payments of principal or interest when due under the terms of the loan. In the process of identifying loans as impaired, we take into consideration factors which include payment history and status, collateral value, financial condition of the borrower, and the probability of collecting scheduled payments in the future. Minor payment delays and insignificant payment shortfalls typically do not result in a loan being classified as impaired. The significance of payment delays and shortfalls is considered on a case by case basis, after taking into consideration the totality of circumstances surrounding the loan and the borrower, including payment history. Impairment is measured on a loan by loan basis for all loans in the portfolio. All TDRs are also classified as impaired loans and are included in the loans individually evaluated for impairment in the calculation of the allowance for loan losses. Impaired loans at the dates indicated, by type of loan were as follows (in thousands): March 31, 2022 Recorded Investment Unpaid Principal Without With Total Related One-to-four family $ 3,566 $ 2,510 $ 948 $ 3,458 $ 109 Home equity 228 155 73 228 6 Commercial and multifamily 2,336 2,336 — 2,336 — Construction and land 66 31 35 66 4 Manufactured homes 214 68 146 214 116 Floating homes — — — — — Other consumer 348 244 104 348 26 Commercial business 170 170 — 170 — Total $ 6,928 $ 5,514 $ 1,306 $ 6,820 $ 261 December 31, 2021 Recorded Investment Unpaid Principal Without With Total Related One-to-four family $ 4,177 $ 3,109 $ 957 $ 4,066 $ 112 Home equity 215 140 75 215 7 Commercial and multifamily 2,380 2,380 — 2,380 — Construction and land 68 33 35 68 4 Manufactured homes 221 44 177 221 144 Floating homes 493 493 — 493 — Other consumer 106 — 106 106 26 Commercial business 176 176 — 176 — Total $ 7,836 $ 6,375 $ 1,350 $ 7,725 $ 293 The following table presents the average recorded investment and interest income recognized on impaired loans for the periods indicated, by loan types (in thousands): Three Months Ended March 31, 2022 2021 Average Interest Income Average Interest Income One-to-four family $ 3,762 $ 25 $ 3,575 $ 29 Home equity 221 4 290 5 Commercial and multifamily 2,358 29 353 — Construction and land 67 1 76 — Manufactured homes 218 4 262 5 Floating homes 247 — 516 3 Other consumer 227 4 114 1 Commercial business 173 1 614 5 Total $ 7,273 $ 68 $ 5,800 $ 48 Forgone interest on nonaccrual loans was $64 thousand and $40 thousand for the three months ended March 31, 2022 and 2021, respectively. There were no commitments to lend additional funds to borrowers whose loans were classified as nonaccrual or impaired at March 31, 2022 and December 31, 2021. Troubled debt restructurings. TDRs are loans accounted for under ASC 310-40, which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, or a longer term to maturity. Once a TDR has performed according to its modified terms for six months and the collection of principal and interest under the revised terms is deemed probable, we remove the TDR from nonperforming status. Loans classified as TDRs totaled $2.3 million and $2.6 million at March 31, 2022 and December 31, 2021, respectively, and are included in impaired loans. The Company has granted, in its TDRs, a variety of concessions to borrowers in the form of loan modifications. The modifications granted can generally be described in the following categories: Rate Modification : A modification in which the interest rate is changed. Term Modification : A modification in which the maturity date, timing of payments or frequency of payments is changed. Payment Modification : A modification in which the dollar amount of the payment is changed. Interest only modifications in which a loan is converted to interest only payments for a period of time are included in this category. Combination Modification : Any other type of modification, including the use of multiple categories above. There were no loans modified as a TDR during the three months ended March 31, 2022 and March 31, 2021. There were no TDRs that were paid off during the three months ended March 31, 2022 and March 31, 2021. There were no post-modification changes for the unpaid principal balance in loans, net of partial charge-offs, that were recorded as a result of the TDRs for the three months ended March 31, 2022 and March 31, 2021. There were no loans modified as a TDR for which there was a payment default within the first 12 months of modification during the three months ended March 31, 2022 and March 31, 2021. The Company had no commitments to extend additional credit to borrowers owing receivables whose terms have been modified into TDRs. " id="sjs-B4" xml:space="preserve">Loans The composition of the loans-held-for portfolio at the dates indicated, excluding loans held-for-sale, was as follows (in thousands): March 31, December 31, Real estate loans: One-to-four family $ 221,832 $ 207,660 Home equity 13,798 13,250 Commercial and multifamily 279,892 278,175 Construction and land 70,402 63,105 Total real estate loans 585,924 562,190 Consumer loans: Manufactured homes 22,179 21,636 Floating homes 59,784 59,268 Other consumer 18,370 16,748 Total consumer loans 100,333 97,652 Commercial business loans 24,452 28,026 Total loans held-for-portfolio 710,709 687,868 Premiums for purchased loans (1) 788 897 Deferred fees, net (2,012) (2,367) Total loans held-for-portfolio, gross 709,485 686,398 Allowance for loan losses (6,407) (6,306) Total loans held-for-portfolio, net $ 703,078 $ 680,092 (1) Includes premiums resulting from purchased loans of $548 thousand related to one-to-four family loans, $65 thousand related to commercial and multifamily loans, and $175 thousand related to commercial business loans as of March 31, 2022. Includes premiums resulting from purchased loans of $556 thousand related to one-to-four family loans, $181 thousand related to commercial and multifamily loans, and $160 thousand related to commercial business loans as of December 31, 2021. The Company was automatically authorized to participate in the U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”), as a qualified lender since the inception of the program. As of March 31, 2022, the Bank had funded PPP loans totaling $119.2 million, $2.1 million of which remained outstanding and are included in commercial business loans above. PPP loans are 100% guaranteed by the SBA. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of the dates indicated (in thousands): March 31, 2022 Allowance: Individually evaluated for impairment Allowance: Collectively evaluated for impairment Allowance: Loans held for investment: Individually evaluated for impairment Loans held for investment: Collectively evaluated for impairment Loans held for investment: One-to-four family $ 109 $ 1,365 $ 1,474 $ 3,458 $ 218,374 $ 221,832 Home equity 6 90 96 228 13,570 13,798 Commercial and multifamily — 2,227 2,227 2,336 277,556 279,892 Construction and land 4 694 698 66 70,336 70,402 Manufactured homes 116 332 448 214 21,965 22,179 Floating homes — 376 376 — 59,784 59,784 Other consumer 26 307 333 348 18,022 18,370 Commercial business — 238 238 170 24,282 24,452 Unallocated — 517 517 — — — Total $ 261 $ 6,146 $ 6,407 $ 6,820 $ 703,889 $ 710,709 December 31, 2021 Allowance: Individually evaluated for impairment Allowance: Collectively evaluated for impairment Allowance: Loans held for investment: Individually evaluated for impairment Loans held for investment: Collectively evaluated for impairment Loans held for investment: One-to-four family $ 112 $ 1,290 $ 1,402 $ 4,066 $ 203,594 $ 207,660 Home equity 7 86 93 215 13,035 13,250 Commercial and multifamily — 2,340 2,340 2,380 275,795 278,175 Construction and land 4 646 650 68 63,037 63,105 Manufactured homes 144 331 475 221 21,415 21,636 Floating homes — 372 372 493 58,775 59,268 Other consumer 26 284 310 106 16,642 16,748 Commercial business — 269 269 176 27,850 28,026 Unallocated — 395 395 — — — Total $ 293 $ 6,013 $ 6,306 $ 7,725 $ 680,143 $ 687,868 The following tables summarize the activity in the allowance for loan losses for the periods indicated (in thousands): Three Months Ended March 31, 2022 Beginning Charge-offs Recoveries Provision (Recapture) Ending One-to-four family $ 1,402 $ — $ — $ 72 $ 1,474 Home equity 93 — 2 1 96 Commercial and multifamily 2,340 — — (113) 2,227 Construction and land 650 — — 48 698 Manufactured homes 475 — — (27) 448 Floating homes 372 — — 4 376 Other consumer 310 (26) 5 44 333 Commercial business 269 (6) 1 (26) 238 Unallocated 395 — — 122 517 Total $ 6,306 $ (32) $ 8 $ 125 $ 6,407 Three Months Ended March 31, 2021 Beginning Charge-offs Recoveries (Recapture) Provision Ending One-to-four family $ 1,063 $ (62) $ — $ (21) $ 980 Home equity 147 — — (36) 111 Commercial and multifamily 2,370 — — (261) 2,109 Construction and land 578 — — 17 595 Manufactured homes 529 — 1 (159) 371 Floating homes 328 — — (37) 291 Other consumer 288 (9) 3 (95) 187 Commercial business 291 — 2 427 720 Unallocated 406 — — 165 571 Total $ 6,000 $ (71) 0 $ 6 $ — $ 5,935 Credit Quality Indicators. Federal regulations provide for the classification of lower quality loans and other assets (such as OREO and repossessed assets), debt and equity securities considered as "substandard," "doubtful" or "loss." An asset is considered "substandard" if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. "Substandard" assets include those characterized by the "distinct possibility" that the insured institution will sustain "some loss" if the deficiencies are not corrected. Assets classified as "doubtful" have all of the weaknesses in those classified "substandard," with the added characteristic that the weaknesses present make "collection or liquidation in full," on the basis of currently existing facts, conditions and values, "highly questionable and improbable." Assets classified as "loss" are those considered "uncollectible" and of such little value that their continuance as assets without the establishment of a specific loss reserve is not warranted. When we classify problem assets as either substandard or doubtful, we may establish a specific allowance in an amount we deem prudent to address specific impairments. General allowances represent loss allowances which have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been specifically allocated to particular problem assets. When an insured institution classifies problem assets as a loss, it is required to charge off those assets in the period in which they are deemed uncollectible. Our determination as to the classification of our assets and the amount of our valuation allowances is subject to review by the Federal Deposit Insurance Corporation (“FDIC”), the Bank's federal regulator, and, since our conversion to a Washington-chartered commercial bank, the Washington Department of Financial Institutions, the Bank's state banking regulator, which can order the establishment of additional loss allowances. Assets which do not currently expose us to sufficient risk to warrant classification in one of the aforementioned categories but possess weaknesses are required to be designated as special mention. The following tables present the internally assigned grades as of the dates indicated, by type of loan (in thousands): March 31, 2022 One-to- Home Commercial Construction Manufactured Floating Other Commercial Total Grade: Pass $ 218,585 $ 13,459 $ 245,940 $ 64,581 $ 21,672 $ 59,183 $ 18,108 $ 20,817 $ 662,345 Watch 353 22 22,713 4,184 316 — — 3,464 31,052 Special Mention — — 4,129 830 — 601 — — 5,560 Substandard 2,894 317 7,110 807 191 — 262 171 11,752 Total $ 221,832 $ 13,798 $ 279,892 $ 70,402 $ 22,179 $ 59,784 $ 18,370 $ 24,452 $ 710,709 December 31, 2021 One-to- Home Commercial Construction Manufactured Floating Other Commercial Total Grade: Pass $ 203,883 $ 12,904 $ 233,300 $ 56,310 $ 21,137 $ 58,171 $ 16,728 $ 23,713 $ 626,146 Watch 363 23 32,770 4,347 305 — — 3,561 41,369 Special Mention — — 4,553 830 — 604 — 211 6,198 Substandard 3,414 323 7,552 1,618 194 493 20 541 14,155 Total $ 207,660 $ 13,250 $ 278,175 $ 63,105 $ 21,636 $ 59,268 $ 16,748 $ 28,026 $ 687,868 Nonaccrual and Past Due Loans . Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual once the loan is 90 days past due or sooner if, in management’s opinion, the borrower may be unable to meet payment of obligations as they become due, as well as when required by regulatory provisions. The following table presents the recorded investment in nonaccrual loans as of the dates indicated, by type of loan (in thousands): March 31, 2022 December 31, 2021 One-to-four family $ 1,676 $ 2,207 Home equity 155 140 Commercial and multifamily 2,336 2,380 Construction and land 31 33 Manufactured homes 135 122 Floating homes — 493 Other consumer 244 — Commercial business 170 176 Total $ 4,747 $ 5,552 The following tables present the aging of the recorded investment in past due loans as of the dates indicated, by type of loan (in thousands): March 31, 2022 30-59 Days 60-89 Days 90 Days and Greater Past Due > 90 Days and Accruing Total Past Current Total Loans One-to-four family $ 74 $ — $ 1,535 $ — $ 1,609 $ 220,223 $ 221,832 Home equity — — 136 — 136 13,662 13,798 Commercial and multifamily — — — — — 279,892 279,892 Construction and land 84 — — — 84 70,318 70,402 Manufactured homes 75 — 73 — 148 22,031 22,179 Floating homes — — — — — 59,784 59,784 Other consumer 249 12 — — 261 18,109 18,370 Commercial business — — 170 — 170 24,282 24,452 Total $ 482 $ 12 $ 1,914 $ — $ 2,408 $ 708,301 $ 710,709 December 31, 2021 30-59 Days 60-89 Days 90 Days and Greater Past Due > 90 Days and Accruing Total Past Current Total Loans One-to-four family $ 1,805 $ 58 $ 87 $ — $ 1,950 $ 205,710 $ 207,660 Home equity — — 140 — 140 13,110 13,250 Commercial and multifamily — — — — — 278,175 278,175 Construction and land 837 — — — 837 62,268 63,105 Manufactured homes 123 — 59 — 182 21,454 21,636 Floating homes — — 244 — 244 59,024 59,268 Other consumer 2 76 — — 78 16,670 16,748 Commercial business 6 — 176 — 182 27,844 28,026 Total $ 2,773 $ 134 $ 706 $ — $ 3,613 $ 684,255 $ 687,868 Nonperforming Loans. Loans are considered nonperforming when they are placed on nonaccrual. The following tables present the credit risk profile of our loan portfolio based on payment activity as of the dates indicated, by type of loan (in thousands): March 31, 2022 One-to-four Home Commercial Construction Manufactured Floating Other Commercial Total Performing $ 220,156 $ 13,643 $ 277,556 $ 70,371 $ 22,044 $ 59,784 $ 18,126 $ 24,282 $ 705,962 Nonperforming 1,676 155 2,336 31 135 — 244 170 4,747 Total $ 221,832 $ 13,798 $ 279,892 $ 70,402 $ 22,179 $ 59,784 $ 18,370 $ 24,452 $ 710,709 December 31, 2021 One-to-four Home Commercial Construction Manufactured Floating Other Commercial Total Performing $ 205,453 $ 13,110 $ 275,795 $ 63,072 $ 21,514 $ 58,775 $ 16,748 $ 27,850 $ 682,316 Nonperforming 2,207 140 2,380 33 122 493 — 176 5,552 Total $ 207,660 $ 13,250 $ 278,175 $ 63,105 $ 21,636 $ 59,268 $ 16,748 $ 28,026 $ 687,868 Impaired Loans. A loan is considered impaired when we determine that we may be unable to collect payments of principal or interest when due under the terms of the loan. In the process of identifying loans as impaired, we take into consideration factors which include payment history and status, collateral value, financial condition of the borrower, and the probability of collecting scheduled payments in the future. Minor payment delays and insignificant payment shortfalls typically do not result in a loan being classified as impaired. The significance of payment delays and shortfalls is considered on a case by case basis, after taking into consideration the totality of circumstances surrounding the loan and the borrower, including payment history. Impairment is measured on a loan by loan basis for all loans in the portfolio. All TDRs are also classified as impaired loans and are included in the loans individually evaluated for impairment in the calculation of the allowance for loan losses. Impaired loans at the dates indicated, by type of loan were as follows (in thousands): March 31, 2022 Recorded Investment Unpaid Principal Without With Total Related One-to-four family $ 3,566 $ 2,510 $ 948 $ 3,458 $ 109 Home equity 228 155 73 228 6 Commercial and multifamily 2,336 2,336 — 2,336 — Construction and land 66 31 35 66 4 Manufactured homes 214 68 146 214 116 Floating homes — — — — — Other consumer 348 244 104 348 26 Commercial business 170 170 — 170 — Total $ 6,928 $ 5,514 $ 1,306 $ 6,820 $ 261 December 31, 2021 Recorded Investment Unpaid Principal Without With Total Related One-to-four family $ 4,177 $ 3,109 $ 957 $ 4,066 $ 112 Home equity 215 140 75 215 7 Commercial and multifamily 2,380 2,380 — 2,380 — Construction and land 68 33 35 68 4 Manufactured homes 221 44 177 221 144 Floating homes 493 493 — 493 — Other consumer 106 — 106 106 26 Commercial business 176 176 — 176 — Total $ 7,836 $ 6,375 $ 1,350 $ 7,725 $ 293 The following table presents the average recorded investment and interest income recognized on impaired loans for the periods indicated, by loan types (in thousands): Three Months Ended March 31, 2022 2021 Average Interest Income Average Interest Income One-to-four family $ 3,762 $ 25 $ 3,575 $ 29 Home equity 221 4 290 5 Commercial and multifamily 2,358 29 353 — Construction and land 67 1 76 — Manufactured homes 218 4 262 5 Floating homes 247 — 516 3 Other consumer 227 4 114 1 Commercial business 173 1 614 5 Total $ 7,273 $ 68 $ 5,800 $ 48 Forgone interest on nonaccrual loans was $64 thousand and $40 thousand for the three months ended March 31, 2022 and 2021, respectively. There were no commitments to lend additional funds to borrowers whose loans were classified as nonaccrual or impaired at March 31, 2022 and December 31, 2021. Troubled debt restructurings. TDRs are loans accounted for under ASC 310-40, which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, or a longer term to maturity. Once a TDR has performed according to its modified terms for six months and the collection of principal and interest under the revised terms is deemed probable, we remove the TDR from nonperforming status. Loans classified as TDRs totaled $2.3 million and $2.6 million at March 31, 2022 and December 31, 2021, respectively, and are included in impaired loans. The Company has granted, in its TDRs, a variety of concessions to borrowers in the form of loan modifications. The modifications granted can generally be described in the following categories: Rate Modification : A modification in which the interest rate is changed. Term Modification : A modification in which the maturity date, timing of payments or frequency of payments is changed. Payment Modification : A modification in which the dollar amount of the payment is changed. Interest only modifications in which a loan is converted to interest only payments for a period of time are included in this category. Combination Modification : Any other type of modification, including the use of multiple categories above. There were no loans modified as a TDR during the three months ended March 31, 2022 and March 31, 2021. There were no TDRs that were paid off during the three months ended March 31, 2022 and March 31, 2021. There were no post-modification changes for the unpaid principal balance in loans, net of partial charge-offs, that were recorded as a result of the TDRs for the three months ended March 31, 2022 and March 31, 2021. There were no loans modified as a TDR for which there was a payment default within the first 12 months of modification during the three months ended March 31, 2022 and March 31, 2021. The Company had no commitments to extend additional credit to borrowers owing receivables whose terms have been modified into TDRs.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company determines the fair values of its financial instruments based on the requirements established in ASC 820 , Fair Value Measurements (“ASC 820”), which provides a framework for measuring fair value in accordance with U.S. GAAP and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 defines fair values for financial instruments as the exit price, the price that would be received for an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. The Company’s fair values for financial instruments at March 31, 2022 were determined based on these requirements. The following methods and assumptions were used to estimate the fair value of other financial instruments: Cash and cash equivalents - The estimated fair value is equal to the carrying amount. Available-for-sale securities – AFS securities are recorded at fair value based on quoted market prices, if available. If quoted market prices are not available, management utilizes third-party pricing services or broker quotations from dealers in the specific instruments. Level 2 securities include those traded on an active exchange, as well as U.S. government securities. Held-to-maturity securities – HTM securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts. The fair value is based on quoted market prices, if available. If quoted market prices are not available, management utilizes third-party pricing services or broker quotations from dealers in the specific instruments. Level 2 securities include those traded on an active exchange, as well as U.S. government securities. Loans held-for-sale - One-to-four family mortgage loans held-for-sale are recorded at the lower of cost or fair value. The fair value of fixed-rate one-to-four family loans is based on whole loan forward prices obtained from government sponsored enterprises. At March 31, 2022 and December 31, 2021, loans held-for-sale were carried at cost, as no impairment was required. Loans held-for-portfolio - The estimated fair value of loans-held-for portfolio consists of a credit adjustment to reflect the estimated adjustment to the carrying value of the loans due to credit-related factors and a yield adjustment, to reflect the estimated adjustment to the carrying value of the loans due to a differential in yield between the portfolio loan yields and estimated current market rate yields on loans with similar characteristics. The estimated fair values of loans held for portfolio reflect exit price assumptions. The liquidity premium/discounts are part of the valuation for exit pricing. Mortgage servicing rights –The fair value of mortgage servicing rights is determined through a discounted cash flow analysis, which uses interest rates, prepayment speeds, discount rates, and delinquency rate assumptions as inputs. FHLB stock - The estimated fair value is equal to the par value of the stock. Non-maturity deposits - The estimated fair value is equal to the carrying amount. Time deposits - The estimated fair value of time deposits is based on the difference between interest costs paid on the Company’s time deposits and current market rates for time deposits with comparable characteristics. Borrowings - The fair value of borrowings are estimated using the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Subordinated notes - The fair value of subordinated notes is estimated using discounted cash flows based on current lending rates for similar long-term debt instruments with similar terms and remaining time to maturity. A description of the valuation methodologies used for impaired loans and OREO is as follows: Impaired Loans - The fair value of collateral dependent loans is based on the current appraised value of the collateral less estimated costs to sell, or internally developed models utilizing a calculation of expected discounted cash flows which contain management’s assumptions. OREO and repossessed assets – The fair value of OREO and repossessed assets is based on the current appraised value of the collateral less estimated costs to sell. Off-balance sheet financial instruments - The fair value for the Company’s off-balance sheet loan commitments is estimated based on fees charged to others to enter into similar agreements taking into account the remaining terms of the agreements and credit standing of the Company’s clients. The estimated fair value of these commitments is not significant. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the lowest level of inputs that is significant to the measurement is used to determine the hierarchy for the entire asset or liability. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s quarterly valuation process. There were no transfers between levels during the three months ended March 31, 2022 and 2021. The following tables present information about the level in the fair value hierarchy for the Company’s financial assets and liabilities, whether or not recognized or recorded at fair value as of the dates indicated (in thousands): March 31, 2022 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 197,091 $ 197,091 $ 197,091 $ — $ — Available-for-sale securities 10,223 10,223 — 10,223 — Held-to-maturity securities 2,223 2,056 — 2,056 — Loans held-for-sale 1,297 1,297 — 1,297 — Loans held-for-portfolio, net 703,078 688,447 — — 688,447 Mortgage servicing rights 4,668 4,668 — — 4,668 FHLB stock 1,117 1,117 — 1,117 — FINANCIAL LIABILITIES: Non-maturity deposits 737,598 737,598 — 737,598 — Time deposits 98,493 99,415 — 99,415 — Subordinated notes 11,644 11,644 — 11,644 — December 31, 2021 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 183,590 $ 183,590 $ 183,590 $ — $ — Available-for-sale securities 8,419 8,419 — 8,419 — Loans held-for-sale 3,094 3,094 — 3,094 — Loans held-for-portfolio, net 680,092 675,154 — — 675,154 Mortgage servicing rights 4,273 4,273 — — 4,273 FHLB stock 1,046 1,046 — 1,046 — FINANCIAL LIABILITIES: Non-maturity deposits 692,598 692,598 — 692,598 — Time deposits 105,722 106,834 — 106,834 — Subordinated notes 11,634 11,634 — 11,634 — The following tables present the balance of assets measured at fair value on a recurring basis as of the dates indicated (in thousands): Fair Value at March 31, 2022 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 6,278 $ — $ 6,278 $ — Agency mortgage-backed securities 3,945 — 3,945 — Mortgage servicing rights 4,668 — — 4,668 Fair Value at December 31, 2021 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 6,066 $ — $ 6,066 $ — Agency mortgage-backed securities 2,353 — 2,353 — Mortgage servicing rights 4,273 — — 4,273 The following tables provide a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring basis as of the dates indicated: March 31, 2022 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 154%-440% (164%) Discount rate 10.5%-14.5% (12.5%) December 31, 2021 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 204%-344% (205%) Discount rate 10.5%-14.5% (12.5%) Generally, any significant increases in the constant prepayment rate and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustment (and decrease in the fair value measurement). Conversely, a decrease in the constant prepayment rate and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement). An increase in the weighted-average life assumptions will result in a decrease in the constant prepayment rate and conversely, a decrease in the weighted-average life will result in an increase of the constant prepayment rate. There were no assets or liabilities (excluding mortgage servicing rights) measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2022 and 2021. Mortgage servicing rights are measured at fair value using a significant unobservable input (Level 3) on a recurring basis - additional information is included in “Note 6—Mortgage Servicing Rights.” The following tables present the balance of assets measured at fair value on a nonrecurring basis at the dates indicated (in thousands): Fair Value at March 31, 2022 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 659 $ — $ — $ 659 Impaired loans 6,820 — — 6,820 Fair Value at December 31, 2021 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 659 $ — $ — $ 659 Impaired loans 7,725 — — 7,725 There were no liabilities carried at fair value, measured on a recurring or nonrecurring basis, at March 31, 2022 and December 31, 2021. The following tables provide a description of the valuation technique, observable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis at the dates indicated: March 31, 2022 Financial Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) OREO Third Party Appraisals No discounts N/A Impaired loans (1) Discounted Cash Flow Discount Rate 0-10% (4%) Impaired loans (2) Third Party Appraisals No discounts N/A (1) Represents TDRs included within impaired loans. (2) Excludes TDRs. December 31, 2021 Financial Valuation Technique(s) Unobservable Input(s) Range OREO Third Party Appraisals No discounts N/A Impaired loans (1) Discounted Cash Flow Discount Rate 0-10% (4%) Impaired loans (2) Third Party Appraisals No discounts N/A (1) Represents TDRs included within impaired loans. (2) Excludes TDRs.

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
	Mar. 31, 2022
Transfers and Servicing [Abstract]
Mortgage Servicing Rights	Mortgage Servicing RightsThe Company’s mortgage servicing rights portfolio totaled $502.5 million at March 31, 2022 compared to $508.1 million at December 31, 2021. Of this total balance, the unpaid principal balance of loans serviced for Federal National Mortgage Association (“Fannie Mae”) at March 31, 2022 and December 31, 2021 were $499.4 million and $504.1 million, respectively. The unpaid principal balance of loans serviced for other financial institutions at March 31, 2022 and December 31, 2021, totaled $3.1 million and $4.0 million, respectively. Loans serviced for others are not included in the Company’s financial statements as they are not assets of the Company. A summary of the change in the balance of mortgage servicing assets during the periods indicated were as follows (in thousands): Three Months Ended March 31, 2022 2021 Beginning balance, at fair value $ 4,273 $ 3,780 Servicing rights that result from transfers and sale of financial assets 127 604 Changes in fair value: Due to changes in model inputs or assumptions and other (1) 268 (275) Ending balance, at fair value $ 4,668 $ 4,109 (1) Represents changes due to collection/realization of expected cash flows and curtailments. The key economic assumptions used in determining the fair value of mortgage servicing rights at the dates indicated are as follows: March 31, 2022 December 31, 2021 Prepayment speed (Public Securities Association “PSA” model) 164 % 205 % Weighted-average life 6.7 years 5.8 years Discount rate 12.5 % 12.5 % The amount of contractually specified servicing, late and ancillary fees earned on the mortgage servicing rights are included in mortgage servicing income on the Condensed Consolidated Statements of Income and totaled $320 thousand for the three months ended March 31, 2022 and $312 thousand for the three months ended March 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIn the normal course of operations, the Company engages in a variety of financial transactions that are not recorded in our financial statements. These transactions involve varying degrees of off-balance sheet credit, interest rate and liquidity risks.  These transactions are used primarily to manage clients’ requests for funding and take the form of loan commitments and lines of credit.

Borrowings, FHLB Stock and Subo

Borrowings, FHLB Stock and Subordinated Notes	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Borrowings, FHLB Stock and Subordinated Notes	Borrowings, FHLB Stock and Subordinated Notes The Company has a loan agreement with the FHLB of Des Moines. The terms of the agreement call for a blanket pledge of a portion of the Company’s mortgage and commercial and multifamily loan portfolio based on the outstanding balance. At March 31, 2022 and December 31, 2021, the amount available to borrow under this credit facility was $413.9 million and $417.7 million, respectively, subject to eligible pledged collateral. At March 31, 2022, the credit facility was collateralized as follows: one-to-four family mortgage loans with an advance equivalent of $57.3 million, commercial and multifamily mortgage loans with an advance equivalent of $51.0 million and home equity loans with an advance equivalent of $467 thousand. At December 31, 2021, the credit facility was collateralized as follows: one-to-four family mortgage loans with an advance equivalent of $59.7 million, commercial and multifamily mortgage loans with an advance equivalent of $52.9 million and home equity loans with an advance equivalent of $482 thousand. The Company had no outstanding borrowings under this arrangement at both March 31, 2022 and December 31, 2021. Additionally, the Company had outstanding letters of credit from the FHLB of Des Moines with a notional amount of $13.0 million and $11.5 million at March 31, 2022 and December 31, 2021, respectively, to secure public deposits. The remaining amount available to borrow as of March 31, 2022 and December 31, 2021, was $95.8 million and $101.5 million, respectively. As a member of the FHLB, the Company is required to maintain a minimum level of investment in FHLB of Des Moines stock based on specific percentages of its outstanding FHLB advances. At March 31, 2022 and December 31, 2021, the Company had an investment of $1.1 million and $1.0 million, respectively in FHLB of Des Moines stock. The Company has access to an unsecured Fed Funds line of credit from Pacific Coast Banker’s Bank (“PCBB”). The line has a one year term maturing on June 30, 2022 and is renewable annually. As of March 31, 2022, the amount available under this line of credit was $20.0 million. There was no balance on this line of credit as of March 31, 2022 and December 31, 2021, respectively.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period, reduced for average unallocated ESOP shares and average unvested restricted stock awards. Unvested share-based awards containing non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock (such as stock awards and options) were exercised or converted to common stock or resulted in the issuance of common stock that then shared in the Company’s earnings. Diluted earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period increased for the dilutive effect of unexercised stock options and unvested restricted stock awards. The dilutive effect of the unexercised stock options and unvested restricted stock awards is calculated under the treasury stock method utilizing the average market value of the Company's stock for the period. The following table summarizes the calculation of earnings per share for the periods indicated (in thousands, except per share data): Three Months Ended March 31, 2022 2021 Net income $ 1,723 $ 2,451 Weighted-average number of shares outstanding, basic 2,602 2,572 Effect of potentially dilutive common shares 38 39 Weighted-average number of shares outstanding, diluted 2,640 2,611 Earnings per share, basic (1)(2) $ 0.66 $ 0.95 Earnings per share, diluted (1)(2) $ 0.65 $ 0.93 (1) The basic and diluted earnings per share amounts for the three months ended March 31, 2022 and 2021 include the impact of income allocated to participating securities of $12 thousand and $12 thousand, respectively. (2) The difference between the basic and diluted earnings per share amounts for the three months ended March 31, 2022 and 2021 under the Treasury Stock Method and the Two-Class Method, as prescribed in FASB ASC 260-10, Earnings Per Share, is immaterial. There were 2,656 anti-dilutive securities at March 31, 2022 and 2,793 anti-dilutive securities at March 31, 2021.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Stock Options and Restricted Stock The Company currently has one active shareholder approved stock-based compensation plan, the Amended and Restated 2013 Equity Incentive Plan (the "2013 Plan"). The 2013 Plan permits the grant of restricted stock, restricted stock units, stock options, and stock appreciation rights. The equity incentive plan approved by stockholders in 2008 (the"2008 Plan") expired in November 2018 and no further awards may be made under the 2008 Plan; provided, however, all awards outstanding under the 2008 Plan remain outstanding in accordance with their terms. Under the 2013 Plan, 181,750 shares of common stock were approved for awards for stock options and stock appreciation rights and 116,700 shares of common stock were approved for awards for restricted stock and restricted stock units. As of March 31, 2022, on an adjusted basis, awards for stock options totaling 284,202 shares and awards for restricted stock totaling 151,651 shares of Company common stock have been granted, net of any forfeitures, to participants in the 2013 Plan and the 2008 Plan. Share-based compensation expense was $203 thousand and $166 thousand for the three months ended March 31, 2022 and March 31, 2021, respectively. Stock Option Awards All stock option awards granted under the 2008 Plan vest in 20% annual increments commencing one year from the grant date in accordance with the requirements of the 2008 Plan. The stock option awards granted to date under the 2013 Plan provide for immediate vesting of a portion of the award with the balance of the award vesting on the anniversary date of each grant date in equal annual installments over periods of one The following is a summary of the Company’s stock option award activity during the three months ended March 31, 2022 (dollars in thousands, except per share amounts): Shares Weighted- Weighted-Average Aggregate Outstanding at January 1, 2022 91,316 $ 24.59 4.77 $ 1,773 Granted 12,800 42.85 Exercised (2,421) 19.49 Forfeited (452) 32.53 Outstanding at March 31, 2022 101,243 26.98 5.21 1,186 Exercisable 79,331 23.97 4.18 1,134 Expected to vest, assuming a 0% forfeiture rate over the vesting term 101,243 $ 26.98 5.21 $ 1,186 As of March 31, 2022, there was $164 thousand of total unrecognized compensation cost related to non-vested stock options granted under the Plans. The cost is expected to be recognized over the remaining weighted-average vesting period of approximately 3.0 years. The fair value of each option grant is estimated as of the grant date using the Black-Scholes option-pricing model. The fair value of options granted for the three months ended March 31, 2022 and 2021 were determined using the following weighted-average assumptions as of the grant date. Three Months Ended March 31, 2022 2021 Annual dividend yield 1.59 % 1.60 % Expected volatility 26.48 % 21.67 % Risk-free interest rate 1.64 % 0.60 % Expected term 6.00 years 6.50 years Weighted-average grant date fair value per option granted $ 9.95 $ 5.64 There were 12,800 and 12,248 options granted during the three months ended March 31, 2022 and 2021, respectively. Restricted Stock Awards The fair value of the restricted stock awards is equal to the fair value of the Company's stock at the date of grant. Compensation expense is recognized over the vesting period that the awards are based. The restricted stock awards granted under the 2008 Plan vest in 20% annual increments commencing one year from the grant date. The restricted stock awards granted to date under the 2013 Plan provide for immediate vesting of a portion of the award with the balance of the award vesting on the anniversary date of each of the grant date in equal annual installments over periods of one The following is a summary of the Company’s non-vested restricted stock award activity during the three months ended March 31, 2022: Shares Weighted-Average Aggregate Intrinsic Value Per Share Non-Vested at January 1, 2022 17,586 $ 34.02 Granted 9,700 42.85 Vested (8,432) 36.34 Forfeited (250) 32.63 Non-Vested at March 31, 2022 18,604 $ 37.59 $ 38.10 Expected to vest assuming a 0% forfeiture rate over the vesting term 18,604 $ 37.59 $ 38.10 As of March 31, 2022, there was $647 thousand of unrecognized compensation cost related to non-vested restricted stock granted under the Plans. The cost is expected to be recognized over the weighted-average vesting period of 2.8 years. The total fair value of shares vested for the three months ended March 31, 2022 and 2021 was $306 thousand and $264 thousand, respectively. Employee Stock Ownership Plan In January 2008, the ESOP borrowed $1.2 million from the Company to purchase common stock of the Company which was paid in full in 2017. In August 2012, in conjunction with the Company’s conversion to a full stock company from the mutual holding company structure, the ESOP borrowed an additional $1.1 million from the Company to purchase common stock of the Company. The loan was being repaid principally by the Bank through contributions to the ESOP over a period of ten years. The interest rate on the loan was fixed at 2.25% per annum. As of March 31, 2022, the ESOP loan was repaid in full. Neither the loan balance nor the related interest expense was reflected on the condensed consolidated financial statements. The fair value of the 144,740 shares held by the ESOP trust was $5.5 million at March 31, 2022. ESOP compensation expense included in salaries and benefits was $205 thousand and $170 thousand for the three months ended March 31, 2022 and March 31, 2021, respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	LeasesWe have operating leases for branch locations, a loan production office, our corporate office and in the past, for certain equipment. The lease term for our leases begins on the date we become legally obligated for the rent payments or we take possession of the building, whichever is earlier. Generally, our real estate leases have initial terms of three The following table presents the lease right-of-use assets and lease liabilities recorded on the condensed consolidated balance sheet at the dates indicated (in thousands): March 31, 2022 December 31, Operating lease right-of-use assets $ 5,777 $ 5,811 Operating lease liabilities $ 6,211 $ 6,242 The following table presents the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Operating lease expense Office leases $ 283 $ 273 Sublease income (3) (3) Net lease expense $ 280 $ 270 The following table presents the maturity of lease liabilities at the date indicated (in thousands): March 31, 2022 Remainder of 2022 $ 807 2023 1,054 2024 1,035 2025 896 2026 862 Thereafter 2,149 Total lease payments 6,803 Less: Present value discount 592 Present value of lease liabilities $ 6,211 Lease term and discount rate by lease type consist of the following at the dates indicated: March 31, December 31, Weighted-average remaining lease term: Office leases 6.7 years 7.0 years Weighted-average discount rate (annualized): Office leases 2.64 % 2.67 % Supplemental cash flow information related to leases was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities for operating leases: Operating cash flows Office leases $ 265 $ 258

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events On April 26, 2022, the Board of Directors of the Company declared a quarterly cash dividend of $0.17 per common share, payable on May 24, 2022 to stockholders of record at the close of business on May 10, 2022. On April 26, 2022, the Company’s Board of Directors authorized an extension of the previously announced stock repurchase program authorizing the Company to repurchase up to $2.0 million of its outstanding shares of common stock during the period ending October 29, 2022. Repurchases may be made by the Company from time to time in the open market, based on prevailing market prices, or in privately negotiated transactions, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial information is unaudited and has been prepared from the consolidated financial statements of Sound Financial Bancorp, Inc., and its wholly owned subsidiaries, Sound Community Bank and Sound Community Insurance Agency, Inc. References in this document to Sound Financial Bancorp refer to Sound Financial Bancorp, Inc. and references to the “Bank” refer to Sound Community Bank. References to “we,” “us,” and “our” or the “Company” refers to Sound Financial Bancorp and its wholly-owned subsidiaries, Sound Community Bank and Sound Community Insurance Agency, Inc., unless the context otherwise requires. These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These unaudited financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on March 15, 2022 (“2021 Form 10-K”). The results for the interim periods are not necessarily indicative of results for a full year or any other future period. Certain amounts in the prior period’s consolidated financial statements have been reclassified to conform to the current presentation. These classifications do not have an impact on previously reported consolidated net income, stockholders’ equity or earnings per share.
Accounting Pronouncements Recently Issued or Adopted	Accounting Pronouncements Recently Issued or Adopted On March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, " Reference Rate Reform" ("Topic 848"). This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this update apply to contract modifications that replace a reference rate affected by reference rate reform (including rates referenced in fallback provisions) and contemporaneous modifications of other contract terms related to the replacement of the reference rate (including contract modifications to add or change fallback provisions). The following optional expedients for applying the requirements of certain Topics or Industry Subtopics in the Codification are permitted for contracts that are modified because of reference rate reform and that meet certain scope guidance: 1) Modifications of contracts within the scope of Topics 310, Receivables, and 470, Debt, should be accounted for by prospectively adjusting the effective interest rate; 2) Modifications of contracts within the scope of Topics 840, Leases, and 842, Leases, should be accounted for as a continuation of the existing contracts with no reassessments of the lease classification and the discount rate (for example, the incremental borrowing rate) or remeasurements of lease payments that otherwise would be required under those Topics for modifications not accounted for as separate contracts; and 3) Modifications of contracts do not require an entity to reassess its original conclusion about whether that contract contains an embedded derivative that is clearly and closely related to the economic characteristics and risks of the host contract under Subtopic 815-15, Derivatives and Hedging— Embedded Derivatives. In January 2021, ASU 2021-01 updated amendments in the new ASU to clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification. The amendments in this ASU have differing effective dates, beginning with interim period including and subsequent to March 12, 2020 through December 31, 2022. The Company does not expect the adoption of ASU 2020-04 to have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and subsequent amendments to the initial guidance in November 2018, ASU No. 2018-19, April 2019, ASU 2019-04, May 2019, ASU 2019-05, November 2019, ASU 2019-11, February 2020, ASU 2020-02, and March 2020, ASU 2020-03, all of which clarifies codification and corrects unintended application of the guidance. This ASU replaces the existing incurred loss impairment methodology that recognizes credit losses when a probable loss has been incurred with new methodology where loss estimates are based upon lifetime expected credit losses. The amendments in this ASU require a financial asset that is measured at amortized cost to be presented at the net amount expected to be collected. The income statement would then reflect the measurement of credit losses for newly recognized financial assets as well as changes to the expected credit losses that have taken place during the reporting period. The change in allowance recognized as a result of adoption will occur through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the ASU is adopted. The new guidance may result in an increase in the allowance for loan losses; however, the Company is still in the process of determining the magnitude of the change and its impact on the Company's consolidated financial statements. The FASB issued ASU No. 2019-10, Financial Instruments - Credit Losses (Topic 326) , delaying implementation of ASU No. 2016-13 for SEC smaller reporting company filers until fiscal years beginning after December 15, 2022. The Bank meets the requirements of a smaller reporting company and will delay implementation of ASU No. 2016-13. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminates the accounting guidance for troubled debt restructured loans (“TDRs”) by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases. This ASU will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, upon the Company’s adoption of the amendments in ASU 2016-13, which is commonly referred to as the current expected credit loss methodology.
Fair Value Measurements	The Company determines the fair values of its financial instruments based on the requirements established in ASC 820 , Fair Value Measurements (“ASC 820”), which provides a framework for measuring fair value in accordance with U.S. GAAP and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 defines fair values for financial instruments as the exit price, the price that would be received for an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. The Company’s fair values for financial instruments at March 31, 2022 were determined based on these requirements. The following methods and assumptions were used to estimate the fair value of other financial instruments: Cash and cash equivalents - The estimated fair value is equal to the carrying amount. Available-for-sale securities – AFS securities are recorded at fair value based on quoted market prices, if available. If quoted market prices are not available, management utilizes third-party pricing services or broker quotations from dealers in the specific instruments. Level 2 securities include those traded on an active exchange, as well as U.S. government securities. Held-to-maturity securities – HTM securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts. The fair value is based on quoted market prices, if available. If quoted market prices are not available, management utilizes third-party pricing services or broker quotations from dealers in the specific instruments. Level 2 securities include those traded on an active exchange, as well as U.S. government securities. Loans held-for-sale - One-to-four family mortgage loans held-for-sale are recorded at the lower of cost or fair value. The fair value of fixed-rate one-to-four family loans is based on whole loan forward prices obtained from government sponsored enterprises. At March 31, 2022 and December 31, 2021, loans held-for-sale were carried at cost, as no impairment was required. Loans held-for-portfolio - The estimated fair value of loans-held-for portfolio consists of a credit adjustment to reflect the estimated adjustment to the carrying value of the loans due to credit-related factors and a yield adjustment, to reflect the estimated adjustment to the carrying value of the loans due to a differential in yield between the portfolio loan yields and estimated current market rate yields on loans with similar characteristics. The estimated fair values of loans held for portfolio reflect exit price assumptions. The liquidity premium/discounts are part of the valuation for exit pricing. Mortgage servicing rights –The fair value of mortgage servicing rights is determined through a discounted cash flow analysis, which uses interest rates, prepayment speeds, discount rates, and delinquency rate assumptions as inputs. FHLB stock - The estimated fair value is equal to the par value of the stock. Non-maturity deposits - The estimated fair value is equal to the carrying amount. Time deposits - The estimated fair value of time deposits is based on the difference between interest costs paid on the Company’s time deposits and current market rates for time deposits with comparable characteristics. Borrowings - The fair value of borrowings are estimated using the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Subordinated notes - The fair value of subordinated notes is estimated using discounted cash flows based on current lending rates for similar long-term debt instruments with similar terms and remaining time to maturity. A description of the valuation methodologies used for impaired loans and OREO is as follows: Impaired Loans - The fair value of collateral dependent loans is based on the current appraised value of the collateral less estimated costs to sell, or internally developed models utilizing a calculation of expected discounted cash flows which contain management’s assumptions. OREO and repossessed assets – The fair value of OREO and repossessed assets is based on the current appraised value of the collateral less estimated costs to sell. Off-balance sheet financial instruments - The fair value for the Company’s off-balance sheet loan commitments is estimated based on fees charged to others to enter into similar agreements taking into account the remaining terms of the agreements and credit standing of the Company’s clients. The estimated fair value of these commitments is not significant. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the lowest level of inputs that is significant to the measurement is used to determine the hierarchy for the entire asset or liability. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s quarterly valuation process. There were no transfers between levels during the three months ended March 31, 2022 and 2021.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Schedule of Amortized Cost and Fair Value of AFS Securities	The amortized cost and fair value of our AFS securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands): Amortized Gross Gross Estimated March 31, 2022 Municipal bonds $ 6,724 $ 74 $ (520) $ 6,278 Agency mortgage-backed securities 4,093 14 (162) 3,945 Total $ 10,817 $ 88 $ (682) $ 10,223 December 31, 2021 Municipal bonds $ 5,931 $ 148 $ (13) $ 6,066 Agency mortgage-backed securities 2,312 53 (12) 2,353 Total $ 8,243 $ 201 $ (25) $ 8,419
Schedule of Amortized Cost and Fair Value of HTM Securities	The amortized cost and fair value of our HTM securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands): Amortized Gross Gross Estimated March 31, 2022 Municipal bonds $ 705 $ — $ (87) $ 618 Agency mortgage-backed securities 1,518 — (80) 1,438 Total $ 2,223 $ — $ (167) $ 2,056 December 31, 2021 Municipal bonds $ — $ — $ — $ — Agency mortgage-backed securities — — — — Total $ — $ — $ — $ —
Schedule of Amortized Cost and Fair Value of Mortgage-backed Securities by Contractual Maturity	The amortized cost and fair value of AFS and HTM securities at March 31, 2022, by contractual maturity, are shown below (in thousands). Expected maturities of AFS securities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Investments not due at a single maturity date, primarily mortgage-backed investments, are shown separately. March 31, 2022 Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Due within one year $ 260 $ 262 $ — $ — Due after one year through five years 151 155 — — Due after five years through ten years 1,226 1,279 — — Due after ten years 5,087 4,582 705 618 Agency mortgage-backed securities 4,093 3,945 1,518 1,438 Total $ 10,817 $ 10,223 $ 2,223 $ 2,056
Schedule of Aggregate Fair Value and Gross Unrealized Loss by Length of Time	The following table summarizes the aggregate fair value and gross unrealized loss by length of time of those investments that have been in a continuous unrealized loss position at the dates indicated (in thousands): March 31, 2022 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities Municipal bonds $ 3,488 $ (520) $ — $ — $ 3,488 $ (520) Agency mortgage-backed securities 2,792 (117) 355 (45) 3,147 (162) Total available-for-sale securities $ 6,280 $ (637) $ 355 $ (45) $ 6,635 $ (682) Held-to-maturity securities Municipal bonds $ 618 $ (87) $ — $ — $ 618 $ (87) Agency mortgage-backed securities 1,438 (80) — — 1,438 (80) Total held-to-maturity securities $ 2,056 $ (167) $ — $ — $ 2,056 $ (167) December 31, 2021 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Municipal bonds $ 1,632 $ (13) $ — $ — $ 1,632 $ (13) Agency mortgage-backed securities $ — $ — $ 402 $ (12) $ 402 $ (12) Total $ 1,632 $ (13) $ 402 $ (12) $ 2,034 $ (25)

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Schedule of Composition of the Loan Portfolio, Excluding Loans Held-for-sale	The composition of the loans-held-for portfolio at the dates indicated, excluding loans held-for-sale, was as follows (in thousands): March 31, December 31, Real estate loans: One-to-four family $ 221,832 $ 207,660 Home equity 13,798 13,250 Commercial and multifamily 279,892 278,175 Construction and land 70,402 63,105 Total real estate loans 585,924 562,190 Consumer loans: Manufactured homes 22,179 21,636 Floating homes 59,784 59,268 Other consumer 18,370 16,748 Total consumer loans 100,333 97,652 Commercial business loans 24,452 28,026 Total loans held-for-portfolio 710,709 687,868 Premiums for purchased loans (1) 788 897 Deferred fees, net (2,012) (2,367) Total loans held-for-portfolio, gross 709,485 686,398 Allowance for loan losses (6,407) (6,306) Total loans held-for-portfolio, net $ 703,078 $ 680,092 (1) Includes premiums resulting from purchased loans of $548 thousand related to one-to-four family loans, $65 thousand related to commercial and multifamily loans, and $175 thousand related to commercial business loans as of March 31, 2022. Includes premiums resulting from purchased loans of $556 thousand related to one-to-four family loans, $181 thousand related to commercial and multifamily loans, and $160 thousand related to commercial business loans as of December 31, 2021.
Schedule of Allowance For Loan Losses and Unpaid Principal Balance in Loans	The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of the dates indicated (in thousands): March 31, 2022 Allowance: Individually evaluated for impairment Allowance: Collectively evaluated for impairment Allowance: Loans held for investment: Individually evaluated for impairment Loans held for investment: Collectively evaluated for impairment Loans held for investment: One-to-four family $ 109 $ 1,365 $ 1,474 $ 3,458 $ 218,374 $ 221,832 Home equity 6 90 96 228 13,570 13,798 Commercial and multifamily — 2,227 2,227 2,336 277,556 279,892 Construction and land 4 694 698 66 70,336 70,402 Manufactured homes 116 332 448 214 21,965 22,179 Floating homes — 376 376 — 59,784 59,784 Other consumer 26 307 333 348 18,022 18,370 Commercial business — 238 238 170 24,282 24,452 Unallocated — 517 517 — — — Total $ 261 $ 6,146 $ 6,407 $ 6,820 $ 703,889 $ 710,709 December 31, 2021 Allowance: Individually evaluated for impairment Allowance: Collectively evaluated for impairment Allowance: Loans held for investment: Individually evaluated for impairment Loans held for investment: Collectively evaluated for impairment Loans held for investment: One-to-four family $ 112 $ 1,290 $ 1,402 $ 4,066 $ 203,594 $ 207,660 Home equity 7 86 93 215 13,035 13,250 Commercial and multifamily — 2,340 2,340 2,380 275,795 278,175 Construction and land 4 646 650 68 63,037 63,105 Manufactured homes 144 331 475 221 21,415 21,636 Floating homes — 372 372 493 58,775 59,268 Other consumer 26 284 310 106 16,642 16,748 Commercial business — 269 269 176 27,850 28,026 Unallocated — 395 395 — — — Total $ 293 $ 6,013 $ 6,306 $ 7,725 $ 680,143 $ 687,868 The following tables summarize the activity in the allowance for loan losses for the periods indicated (in thousands): Three Months Ended March 31, 2022 Beginning Charge-offs Recoveries Provision (Recapture) Ending One-to-four family $ 1,402 $ — $ — $ 72 $ 1,474 Home equity 93 — 2 1 96 Commercial and multifamily 2,340 — — (113) 2,227 Construction and land 650 — — 48 698 Manufactured homes 475 — — (27) 448 Floating homes 372 — — 4 376 Other consumer 310 (26) 5 44 333 Commercial business 269 (6) 1 (26) 238 Unallocated 395 — — 122 517 Total $ 6,306 $ (32) $ 8 $ 125 $ 6,407 Three Months Ended March 31, 2021 Beginning Charge-offs Recoveries (Recapture) Provision Ending One-to-four family $ 1,063 $ (62) $ — $ (21) $ 980 Home equity 147 — — (36) 111 Commercial and multifamily 2,370 — — (261) 2,109 Construction and land 578 — — 17 595 Manufactured homes 529 — 1 (159) 371 Floating homes 328 — — (37) 291 Other consumer 288 (9) 3 (95) 187 Commercial business 291 — 2 427 720 Unallocated 406 — — 165 571 Total $ 6,000 $ (71) 0 $ 6 $ — $ 5,935
Schedule of Credit Quality Indicators	The following tables present the internally assigned grades as of the dates indicated, by type of loan (in thousands): March 31, 2022 One-to- Home Commercial Construction Manufactured Floating Other Commercial Total Grade: Pass $ 218,585 $ 13,459 $ 245,940 $ 64,581 $ 21,672 $ 59,183 $ 18,108 $ 20,817 $ 662,345 Watch 353 22 22,713 4,184 316 — — 3,464 31,052 Special Mention — — 4,129 830 — 601 — — 5,560 Substandard 2,894 317 7,110 807 191 — 262 171 11,752 Total $ 221,832 $ 13,798 $ 279,892 $ 70,402 $ 22,179 $ 59,784 $ 18,370 $ 24,452 $ 710,709 December 31, 2021 One-to- Home Commercial Construction Manufactured Floating Other Commercial Total Grade: Pass $ 203,883 $ 12,904 $ 233,300 $ 56,310 $ 21,137 $ 58,171 $ 16,728 $ 23,713 $ 626,146 Watch 363 23 32,770 4,347 305 — — 3,561 41,369 Special Mention — — 4,553 830 — 604 — 211 6,198 Substandard 3,414 323 7,552 1,618 194 493 20 541 14,155 Total $ 207,660 $ 13,250 $ 278,175 $ 63,105 $ 21,636 $ 59,268 $ 16,748 $ 28,026 $ 687,868
Schedule of Investment in Nonaccrual Loans	The following table presents the recorded investment in nonaccrual loans as of the dates indicated, by type of loan (in thousands): March 31, 2022 December 31, 2021 One-to-four family $ 1,676 $ 2,207 Home equity 155 140 Commercial and multifamily 2,336 2,380 Construction and land 31 33 Manufactured homes 135 122 Floating homes — 493 Other consumer 244 — Commercial business 170 176 Total $ 4,747 $ 5,552
Summary of Recorded Investment Aging In Past Due Loans	The following tables present the aging of the recorded investment in past due loans as of the dates indicated, by type of loan (in thousands): March 31, 2022 30-59 Days 60-89 Days 90 Days and Greater Past Due > 90 Days and Accruing Total Past Current Total Loans One-to-four family $ 74 $ — $ 1,535 $ — $ 1,609 $ 220,223 $ 221,832 Home equity — — 136 — 136 13,662 13,798 Commercial and multifamily — — — — — 279,892 279,892 Construction and land 84 — — — 84 70,318 70,402 Manufactured homes 75 — 73 — 148 22,031 22,179 Floating homes — — — — — 59,784 59,784 Other consumer 249 12 — — 261 18,109 18,370 Commercial business — — 170 — 170 24,282 24,452 Total $ 482 $ 12 $ 1,914 $ — $ 2,408 $ 708,301 $ 710,709 December 31, 2021 30-59 Days 60-89 Days 90 Days and Greater Past Due > 90 Days and Accruing Total Past Current Total Loans One-to-four family $ 1,805 $ 58 $ 87 $ — $ 1,950 $ 205,710 $ 207,660 Home equity — — 140 — 140 13,110 13,250 Commercial and multifamily — — — — — 278,175 278,175 Construction and land 837 — — — 837 62,268 63,105 Manufactured homes 123 — 59 — 182 21,454 21,636 Floating homes — — 244 — 244 59,024 59,268 Other consumer 2 76 — — 78 16,670 16,748 Commercial business 6 — 176 — 182 27,844 28,026 Total $ 2,773 $ 134 $ 706 $ — $ 3,613 $ 684,255 $ 687,868
Schedule of Credit Risk Profile Based on Payment Activity	The following tables present the credit risk profile of our loan portfolio based on payment activity as of the dates indicated, by type of loan (in thousands): March 31, 2022 One-to-four Home Commercial Construction Manufactured Floating Other Commercial Total Performing $ 220,156 $ 13,643 $ 277,556 $ 70,371 $ 22,044 $ 59,784 $ 18,126 $ 24,282 $ 705,962 Nonperforming 1,676 155 2,336 31 135 — 244 170 4,747 Total $ 221,832 $ 13,798 $ 279,892 $ 70,402 $ 22,179 $ 59,784 $ 18,370 $ 24,452 $ 710,709 December 31, 2021 One-to-four Home Commercial Construction Manufactured Floating Other Commercial Total Performing $ 205,453 $ 13,110 $ 275,795 $ 63,072 $ 21,514 $ 58,775 $ 16,748 $ 27,850 $ 682,316 Nonperforming 2,207 140 2,380 33 122 493 — 176 5,552 Total $ 207,660 $ 13,250 $ 278,175 $ 63,105 $ 21,636 $ 59,268 $ 16,748 $ 28,026 $ 687,868
Schedule of Impaired Loans	Impaired loans at the dates indicated, by type of loan were as follows (in thousands): March 31, 2022 Recorded Investment Unpaid Principal Without With Total Related One-to-four family $ 3,566 $ 2,510 $ 948 $ 3,458 $ 109 Home equity 228 155 73 228 6 Commercial and multifamily 2,336 2,336 — 2,336 — Construction and land 66 31 35 66 4 Manufactured homes 214 68 146 214 116 Floating homes — — — — — Other consumer 348 244 104 348 26 Commercial business 170 170 — 170 — Total $ 6,928 $ 5,514 $ 1,306 $ 6,820 $ 261 December 31, 2021 Recorded Investment Unpaid Principal Without With Total Related One-to-four family $ 4,177 $ 3,109 $ 957 $ 4,066 $ 112 Home equity 215 140 75 215 7 Commercial and multifamily 2,380 2,380 — 2,380 — Construction and land 68 33 35 68 4 Manufactured homes 221 44 177 221 144 Floating homes 493 493 — 493 — Other consumer 106 — 106 106 26 Commercial business 176 176 — 176 — Total $ 7,836 $ 6,375 $ 1,350 $ 7,725 $ 293 The following table presents the average recorded investment and interest income recognized on impaired loans for the periods indicated, by loan types (in thousands): Three Months Ended March 31, 2022 2021 Average Interest Income Average Interest Income One-to-four family $ 3,762 $ 25 $ 3,575 $ 29 Home equity 221 4 290 5 Commercial and multifamily 2,358 29 353 — Construction and land 67 1 76 — Manufactured homes 218 4 262 5 Floating homes 247 — 516 3 Other consumer 227 4 114 1 Commercial business 173 1 614 5 Total $ 7,273 $ 68 $ 5,800 $ 48

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy for Financial Instruments	The following tables present information about the level in the fair value hierarchy for the Company’s financial assets and liabilities, whether or not recognized or recorded at fair value as of the dates indicated (in thousands): March 31, 2022 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 197,091 $ 197,091 $ 197,091 $ — $ — Available-for-sale securities 10,223 10,223 — 10,223 — Held-to-maturity securities 2,223 2,056 — 2,056 — Loans held-for-sale 1,297 1,297 — 1,297 — Loans held-for-portfolio, net 703,078 688,447 — — 688,447 Mortgage servicing rights 4,668 4,668 — — 4,668 FHLB stock 1,117 1,117 — 1,117 — FINANCIAL LIABILITIES: Non-maturity deposits 737,598 737,598 — 737,598 — Time deposits 98,493 99,415 — 99,415 — Subordinated notes 11,644 11,644 — 11,644 — December 31, 2021 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 183,590 $ 183,590 $ 183,590 $ — $ — Available-for-sale securities 8,419 8,419 — 8,419 — Loans held-for-sale 3,094 3,094 — 3,094 — Loans held-for-portfolio, net 680,092 675,154 — — 675,154 Mortgage servicing rights 4,273 4,273 — — 4,273 FHLB stock 1,046 1,046 — 1,046 — FINANCIAL LIABILITIES: Non-maturity deposits 692,598 692,598 — 692,598 — Time deposits 105,722 106,834 — 106,834 — Subordinated notes 11,634 11,634 — 11,634 —
Schedule of Fair value of Assets Measured on Recurring Basis	The following tables present the balance of assets measured at fair value on a recurring basis as of the dates indicated (in thousands): Fair Value at March 31, 2022 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 6,278 $ — $ 6,278 $ — Agency mortgage-backed securities 3,945 — 3,945 — Mortgage servicing rights 4,668 — — 4,668 Fair Value at December 31, 2021 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 6,066 $ — $ 6,066 $ — Agency mortgage-backed securities 2,353 — 2,353 — Mortgage servicing rights 4,273 — — 4,273
Schedule of Quantitative Information	The following tables provide a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring basis as of the dates indicated: March 31, 2022 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 154%-440% (164%) Discount rate 10.5%-14.5% (12.5%) December 31, 2021 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 204%-344% (205%) Discount rate 10.5%-14.5% (12.5%) The following tables provide a description of the valuation technique, observable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis at the dates indicated: March 31, 2022 Financial Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) OREO Third Party Appraisals No discounts N/A Impaired loans (1) Discounted Cash Flow Discount Rate 0-10% (4%) Impaired loans (2) Third Party Appraisals No discounts N/A (1) Represents TDRs included within impaired loans. (2) Excludes TDRs. December 31, 2021 Financial Valuation Technique(s) Unobservable Input(s) Range OREO Third Party Appraisals No discounts N/A Impaired loans (1) Discounted Cash Flow Discount Rate 0-10% (4%) Impaired loans (2) Third Party Appraisals No discounts N/A (1) Represents TDRs included within impaired loans. (2) Excludes TDRs.
Schedule of Fair value of Assets Measured on Nonrecurring Basis	The following tables present the balance of assets measured at fair value on a nonrecurring basis at the dates indicated (in thousands): Fair Value at March 31, 2022 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 659 $ — $ — $ 659 Impaired loans 6,820 — — 6,820 Fair Value at December 31, 2021 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 659 $ — $ — $ 659 Impaired loans 7,725 — — 7,725

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2022
Transfers and Servicing [Abstract]
Schedule of Change in Balance of Mortgage Servicing Assets	A summary of the change in the balance of mortgage servicing assets during the periods indicated were as follows (in thousands): Three Months Ended March 31, 2022 2021 Beginning balance, at fair value $ 4,273 $ 3,780 Servicing rights that result from transfers and sale of financial assets 127 604 Changes in fair value: Due to changes in model inputs or assumptions and other (1) 268 (275) Ending balance, at fair value $ 4,668 $ 4,109 (1) Represents changes due to collection/realization of expected cash flows and curtailments.
Schedule of Mortgage Service Rights Assumptions	The key economic assumptions used in determining the fair value of mortgage servicing rights at the dates indicated are as follows: March 31, 2022 December 31, 2021 Prepayment speed (Public Securities Association “PSA” model) 164 % 205 % Weighted-average life 6.7 years 5.8 years Discount rate 12.5 % 12.5 %

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The following table summarizes the calculation of earnings per share for the periods indicated (in thousands, except per share data): Three Months Ended March 31, 2022 2021 Net income $ 1,723 $ 2,451 Weighted-average number of shares outstanding, basic 2,602 2,572 Effect of potentially dilutive common shares 38 39 Weighted-average number of shares outstanding, diluted 2,640 2,611 Earnings per share, basic (1)(2) $ 0.66 $ 0.95 Earnings per share, diluted (1)(2) $ 0.65 $ 0.93 (1) The basic and diluted earnings per share amounts for the three months ended March 31, 2022 and 2021 include the impact of income allocated to participating securities of $12 thousand and $12 thousand, respectively. (2) The difference between the basic and diluted earnings per share amounts for the three months ended March 31, 2022 and 2021 under the Treasury Stock Method and the Two-Class Method, as prescribed in FASB ASC 260-10, Earnings Per Share, is immaterial.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Plan Award Activity	The following is a summary of the Company’s stock option award activity during the three months ended March 31, 2022 (dollars in thousands, except per share amounts): Shares Weighted- Weighted-Average Aggregate Outstanding at January 1, 2022 91,316 $ 24.59 4.77 $ 1,773 Granted 12,800 42.85 Exercised (2,421) 19.49 Forfeited (452) 32.53 Outstanding at March 31, 2022 101,243 26.98 5.21 1,186 Exercisable 79,331 23.97 4.18 1,134 Expected to vest, assuming a 0% forfeiture rate over the vesting term 101,243 $ 26.98 5.21 $ 1,186
Schedule of Weighted-Average Assumptions Used in Determining Fair Value of Options Granted	The fair value of options granted for the three months ended March 31, 2022 and 2021 were determined using the following weighted-average assumptions as of the grant date. Three Months Ended March 31, 2022 2021 Annual dividend yield 1.59 % 1.60 % Expected volatility 26.48 % 21.67 % Risk-free interest rate 1.64 % 0.60 % Expected term 6.00 years 6.50 years Weighted-average grant date fair value per option granted $ 9.95 $ 5.64
Schedule of Restricted Stock Award Activity	The following is a summary of the Company’s non-vested restricted stock award activity during the three months ended March 31, 2022: Shares Weighted-Average Aggregate Intrinsic Value Per Share Non-Vested at January 1, 2022 17,586 $ 34.02 Granted 9,700 42.85 Vested (8,432) 36.34 Forfeited (250) 32.63 Non-Vested at March 31, 2022 18,604 $ 37.59 $ 38.10 Expected to vest assuming a 0% forfeiture rate over the vesting term 18,604 $ 37.59 $ 38.10

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Balance Sheet Information Related to Leases	The following table presents the lease right-of-use assets and lease liabilities recorded on the condensed consolidated balance sheet at the dates indicated (in thousands): March 31, 2022 December 31, Operating lease right-of-use assets $ 5,777 $ 5,811 Operating lease liabilities $ 6,211 $ 6,242
Schedule of Components of the Leases and Supplemental Cash Flow Information	The following table presents the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Operating lease expense Office leases $ 283 $ 273 Sublease income (3) (3) Net lease expense $ 280 $ 270 Lease term and discount rate by lease type consist of the following at the dates indicated: March 31, December 31, Weighted-average remaining lease term: Office leases 6.7 years 7.0 years Weighted-average discount rate (annualized): Office leases 2.64 % 2.67 % Supplemental cash flow information related to leases was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities for operating leases: Operating cash flows Office leases $ 265 $ 258
Schedule of Lease Liability Maturities	The following table presents the maturity of lease liabilities at the date indicated (in thousands): March 31, 2022 Remainder of 2022 $ 807 2023 1,054 2024 1,035 2025 896 2026 862 Thereafter 2,149 Total lease payments 6,803 Less: Present value discount 592 Present value of lease liabilities $ 6,211

Investments - Schedule of Amort

Investments - Schedule of Amortized Cost and Fair Value of AFS Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Amortized cost and fair value of available-for-sale securities and gross unrealized gains and losses [Abstract]
Amortized Cost	$ 10,817	$ 8,243
Gross Unrealized Gains	88	201
Gross Unrealized Losses	(682)	(25)
Estimated Fair Value	10,223	8,419
Municipal bonds
Amortized cost and fair value of available-for-sale securities and gross unrealized gains and losses [Abstract]
Amortized Cost	6,724	5,931
Gross Unrealized Gains	74	148
Gross Unrealized Losses	(520)	(13)
Estimated Fair Value	6,278	6,066
Agency mortgage-backed securities
Amortized cost and fair value of available-for-sale securities and gross unrealized gains and losses [Abstract]
Amortized Cost	4,093	2,312
Gross Unrealized Gains	14	53
Gross Unrealized Losses	(162)	(12)
Estimated Fair Value	$ 3,945	$ 2,353

Investments - Schedule of Amo_2

Investments - Schedule of Amortized Cost and Fair Value of HTM Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,223	$ 0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(167)	0
Estimated Fair Value	2,056	0
Municipal bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	705	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(87)	0
Estimated Fair Value	618	0
Agency mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,518	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(80)	0
Estimated Fair Value	$ 1,438	$ 0

Investments -Schedule of Amorti

Investments -Schedule of Amortized Cost and Fair Value of Mortgage-backed Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost
Due within one year	$ 260
Due after one year through five years	151
Due after five years through ten years	1,226
Due after ten years	5,087
Agency mortgage-backed securities	4,093
Amortized Cost	10,817	$ 8,243
Fair Value
Due within one year	262
Due after one year through five years	155
Due after five years through ten years	1,279
Due after ten years	4,582
Agency mortgage-backed securities	3,945
Estimated Fair Value	10,223	8,419
Amortized Cost
Due within one year	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	705
Agency mortgage-backed securities	1,518
Total	2,223	0
Fair Value
Due within one year	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	618
Agency mortgage-backed securities	1,438
Total	$ 2,056	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)security	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)security
Schedule of Available-for-sale Securities [Line Items]
Pledged securities	$ 0		$ 0
Sale of AFS securities	0	$ 0
Sale of HTM securities	0
Credit losses recognized in earnings	0	$ 0
Investments	12,300,000
Available-for-sale securities, at fair value	$ 10,223,000		$ 8,419,000
Number of securities in unrealized loss position for less than 12 months | security	13		2
Number of securities in unrealized loss position for more than 12 months | security	1		1
Held-to-maturity Securities
Schedule of Available-for-sale Securities [Line Items]
Number of securities in unrealized loss position for less than 12 months | security	2
Agency mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Number of portfolio securities | security	12		10
Available-for-sale securities, at fair value	$ 3,945,000		$ 2,353,000
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Number of portfolio securities | security	12		10
Available-for-sale securities, at fair value	$ 6,278,000		$ 6,066,000

Investments -Summary of Aggrega

Investments -Summary of Aggregate Fair Value and Gross Unrealized Loss by Length of Time (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value
Less Than 12 Months	$ 6,280	$ 1,632
12 Months or Longer	355	402
Total	6,635	2,034
Unrealized Loss
Less Than 12 Months	(637)	(13)
12 Months or Longer	(45)	(12)
Total	(682)	(25)
Fair Value
Less Than 12 Months	2,056
12 Months or Longer	0
Total	2,056
Unrealized Loss
Less Than 12 Months	(167)
12 Months or Longer	0
Total	(167)
Municipal bonds
Fair Value
Less Than 12 Months	3,488	1,632
12 Months or Longer	0	0
Total	3,488	1,632
Unrealized Loss
Less Than 12 Months	(520)	(13)
12 Months or Longer	0	0
Total	(520)	(13)
Fair Value
Less Than 12 Months	618
12 Months or Longer	0
Total	618
Unrealized Loss
Less Than 12 Months	(87)
12 Months or Longer	0
Total	(87)
Agency mortgage-backed securities
Fair Value
Less Than 12 Months	2,792	0
12 Months or Longer	355	402
Total	3,147	402
Unrealized Loss
Less Than 12 Months	(117)	0
12 Months or Longer	(45)	(12)
Total	(162)	$ (12)
Fair Value
Less Than 12 Months	1,438
12 Months or Longer	0
Total	1,438
Unrealized Loss
Less Than 12 Months	(80)
12 Months or Longer	0
Total	$ (80)

Loans - Composition of the Loan

Loans - Composition of the Loan Portfolio, Excluding Loans Held-for-sale (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	$ 710,709	$ 687,868
Premiums for purchased loans	788	897
Deferred fees, net	(2,012)	(2,367)
Total loans held-for-portfolio, gross	709,485	686,398
Allowance for loan losses	(6,407)	(6,306)	$ (5,935)	$ (6,000)
Total loans held-for-portfolio, net	703,078	680,092
Real estate loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	585,924	562,190
Real estate loans: | One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	221,832	207,660
Premiums for purchased loans	548	556
Allowance for loan losses	(1,474)	(1,402)	(980)	(1,063)
Real estate loans: | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	13,798	13,250
Allowance for loan losses	(96)	(93)	(111)	(147)
Real estate loans: | Commercial and multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	279,892	278,175
Premiums for purchased loans	65	181
Allowance for loan losses	(2,227)	(2,340)	(2,109)	(2,370)
Real estate loans: | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	70,402	63,105
Allowance for loan losses	(698)	(650)	(595)	(578)
Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	100,333	97,652
Consumer loans: | Manufactured homes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	22,179	21,636
Allowance for loan losses	(448)	(475)	(371)	(529)
Consumer loans: | Floating homes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	59,784	59,268
Allowance for loan losses	(376)	(372)	(291)	(328)
Consumer loans: | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	18,370	16,748
Allowance for loan losses	(333)	(310)	(187)	(288)
Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	24,452	28,026
Premiums for purchased loans	175	160
Allowance for loan losses	$ (238)	$ (269)	$ (720)	$ (291)

Loans - Narrative (Details)

Loans - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)loan	Mar. 31, 2021USD ($)loan	Dec. 31, 2021USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	$ 710,709,000		$ 687,868,000
Forgone interest on nonaccrual loans	64,000	$ 40,000
Loans classified as TDRs	$ 2,300,000		2,600,000
Number of loans modified as TDRs | loan	0	0
Number of TDR loans paid off | loan	0	0
Number of loans with post-modification changes for unpaid principal balance in loans modified as TDRs | loan	0	0
Number of loans for which there was payment default within first 12 months of modification | loan	0	0
Commitments to extend additional credit to borrowers whose loan terms have been modified in TDRs	$ 0
Number of loans in process of foreclosure | loan	1,000
Mortgage loans in process of foreclosure, amount	$ 39,000
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Period past due for loans to be automatically placed on nonaccrual	90 days
Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	$ 24,452,000		28,026,000
Real estate loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	585,924,000		562,190,000
Real estate loans: | One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	221,832,000		$ 207,660,000
PPP loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loans funded	119,200,000
PPP loans | Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	$ 2,100,000

Loans - Schedule of Allowance F

Loans - Schedule of Allowance For Loan Losses and Unpaid Principal Balance in Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Allowance for loan losses:
Allowance: Individually evaluated for impairment	$ 261	$ 293
Allowance: Collectively evaluated for impairment	6,146	6,013
Allowance: Ending balance	6,407	6,306	$ 5,935	$ 6,000
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	6,820	7,725
Loans held for investment: Collectively evaluated for impairment	703,889	680,143
Loans held for investment: Ending balance	710,709	687,868
Real estate loans:
Loans held-for-portfolio:
Loans held for investment: Ending balance	585,924	562,190
Real estate loans: | One-to-four family
Allowance for loan losses:
Allowance: Individually evaluated for impairment	109	112
Allowance: Collectively evaluated for impairment	1,365	1,290
Allowance: Ending balance	1,474	1,402	980	1,063
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	3,458	4,066
Loans held for investment: Collectively evaluated for impairment	218,374	203,594
Loans held for investment: Ending balance	221,832	207,660
Real estate loans: | Home equity
Allowance for loan losses:
Allowance: Individually evaluated for impairment	6	7
Allowance: Collectively evaluated for impairment	90	86
Allowance: Ending balance	96	93	111	147
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	228	215
Loans held for investment: Collectively evaluated for impairment	13,570	13,035
Loans held for investment: Ending balance	13,798	13,250
Real estate loans: | Commercial and multifamily
Allowance for loan losses:
Allowance: Individually evaluated for impairment	0	0
Allowance: Collectively evaluated for impairment	2,227	2,340
Allowance: Ending balance	2,227	2,340	2,109	2,370
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	2,336	2,380
Loans held for investment: Collectively evaluated for impairment	277,556	275,795
Loans held for investment: Ending balance	279,892	278,175
Real estate loans: | Construction and land
Allowance for loan losses:
Allowance: Individually evaluated for impairment	4	4
Allowance: Collectively evaluated for impairment	694	646
Allowance: Ending balance	698	650	595	578
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	66	68
Loans held for investment: Collectively evaluated for impairment	70,336	63,037
Loans held for investment: Ending balance	70,402	63,105
Consumer loans:
Loans held-for-portfolio:
Loans held for investment: Ending balance	100,333	97,652
Consumer loans: | Manufactured homes
Allowance for loan losses:
Allowance: Individually evaluated for impairment	116	144
Allowance: Collectively evaluated for impairment	332	331
Allowance: Ending balance	448	475	371	529
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	214	221
Loans held for investment: Collectively evaluated for impairment	21,965	21,415
Loans held for investment: Ending balance	22,179	21,636
Consumer loans: | Floating homes
Allowance for loan losses:
Allowance: Individually evaluated for impairment	0	0
Allowance: Collectively evaluated for impairment	376	372
Allowance: Ending balance	376	372	291	328
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	0	493
Loans held for investment: Collectively evaluated for impairment	59,784	58,775
Loans held for investment: Ending balance	59,784	59,268
Consumer loans: | Other consumer
Allowance for loan losses:
Allowance: Individually evaluated for impairment	26	26
Allowance: Collectively evaluated for impairment	307	284
Allowance: Ending balance	333	310	187	288
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	348	106
Loans held for investment: Collectively evaluated for impairment	18,022	16,642
Loans held for investment: Ending balance	18,370	16,748
Commercial business
Allowance for loan losses:
Allowance: Individually evaluated for impairment	0	0
Allowance: Collectively evaluated for impairment	238	269
Allowance: Ending balance	238	269	720	291
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	170	176
Loans held for investment: Collectively evaluated for impairment	24,282	27,850
Loans held for investment: Ending balance	24,452	28,026
Unallocated
Allowance for loan losses:
Allowance: Individually evaluated for impairment	0	0
Allowance: Collectively evaluated for impairment	517	395
Allowance: Ending balance	517	395	$ 571	$ 406
Loans held-for-portfolio:
Loans held for investment: Individually evaluated for impairment	0	0
Loans held for investment: Collectively evaluated for impairment	0	0
Loans held for investment: Ending balance	$ 0	$ 0

Loans - Summary of Activity in

Loans - Summary of Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	$ 6,306	$ 6,000
Charge-offs	(32)	(71)
Recoveries	8	6
Provision (Recapture)	125	0
Ending Allowance	6,407	5,935
Real estate loans: | One-to-four family
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	1,402	1,063
Charge-offs	0	(62)
Recoveries	0	0
Provision (Recapture)	72	(21)
Ending Allowance	1,474	980
Real estate loans: | Home equity
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	93	147
Charge-offs	0	0
Recoveries	2	0
Provision (Recapture)	1	(36)
Ending Allowance	96	111
Real estate loans: | Commercial and multifamily
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	2,340	2,370
Charge-offs	0	0
Recoveries	0	0
Provision (Recapture)	(113)	(261)
Ending Allowance	2,227	2,109
Real estate loans: | Construction and land
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	650	578
Charge-offs	0	0
Recoveries	0	0
Provision (Recapture)	48	17
Ending Allowance	698	595
Consumer loans: | Manufactured homes
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	475	529
Charge-offs	0	0
Recoveries	0	1
Provision (Recapture)	(27)	(159)
Ending Allowance	448	371
Consumer loans: | Floating homes
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	372	328
Charge-offs	0	0
Recoveries	0	0
Provision (Recapture)	4	(37)
Ending Allowance	376	291
Consumer loans: | Other consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	310	288
Charge-offs	(26)	(9)
Recoveries	5	3
Provision (Recapture)	44	(95)
Ending Allowance	333	187
Commercial business
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	269	291
Charge-offs	(6)	0
Recoveries	1	2
Provision (Recapture)	(26)	427
Ending Allowance	238	720
Unallocated
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	395	406
Charge-offs	0	0
Recoveries	0	0
Provision (Recapture)	122	165
Ending Allowance	$ 517	$ 571

Loans - Schedule of Credit Qual

Loans - Schedule of Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	$ 710,709	$ 687,868
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	662,345	626,146
Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	31,052	41,369
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	5,560	6,198
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	11,752	14,155
Real estate loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	585,924	562,190
Real estate loans: | One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	221,832	207,660
Real estate loans: | One-to-four family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	218,585	203,883
Real estate loans: | One-to-four family | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	353	363
Real estate loans: | One-to-four family | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	0
Real estate loans: | One-to-four family | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	2,894	3,414
Real estate loans: | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	13,798	13,250
Real estate loans: | Home equity | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	13,459	12,904
Real estate loans: | Home equity | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	22	23
Real estate loans: | Home equity | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	0
Real estate loans: | Home equity | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	317	323
Real estate loans: | Commercial and multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	279,892	278,175
Real estate loans: | Commercial and multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	245,940	233,300
Real estate loans: | Commercial and multifamily | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	22,713	32,770
Real estate loans: | Commercial and multifamily | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	4,129	4,553
Real estate loans: | Commercial and multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	7,110	7,552
Real estate loans: | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	70,402	63,105
Real estate loans: | Construction and land | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	64,581	56,310
Real estate loans: | Construction and land | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	4,184	4,347
Real estate loans: | Construction and land | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	830	830
Real estate loans: | Construction and land | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	807	1,618
Consumer loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	100,333	97,652
Consumer loans: | Manufactured homes
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	22,179	21,636
Consumer loans: | Manufactured homes | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	21,672	21,137
Consumer loans: | Manufactured homes | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	316	305
Consumer loans: | Manufactured homes | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	0
Consumer loans: | Manufactured homes | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	191	194
Consumer loans: | Floating homes
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	59,784	59,268
Consumer loans: | Floating homes | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	59,183	58,171
Consumer loans: | Floating homes | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	0
Consumer loans: | Floating homes | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	601	604
Consumer loans: | Floating homes | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	493
Consumer loans: | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	18,370	16,748
Consumer loans: | Other consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	18,108	16,728
Consumer loans: | Other consumer | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	0
Consumer loans: | Other consumer | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	0
Consumer loans: | Other consumer | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	262	20
Commercial business
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	24,452	28,026
Commercial business | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	20,817	23,713
Commercial business | Watch
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	3,464	3,561
Commercial business | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	211
Commercial business | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	$ 171	$ 541

Loans - Schedule of Investment

Loans - Schedule of Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 4,747	$ 5,552
Real estate loans: | One-to-four family
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	1,676	2,207
Real estate loans: | Home equity
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	155	140
Real estate loans: | Commercial and multifamily
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	2,336	2,380
Real estate loans: | Construction and land
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	31	33
Consumer loans: | Manufactured homes
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	135	122
Consumer loans: | Floating homes
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	0	493
Consumer loans: | Other consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	244	0
Commercial business loans
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 170	$ 176

Loans - Summary of Recorded Inv

Loans - Summary of Recorded Investment Aging In Past Due Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total Loans	$ 710,709	$ 687,868
> 90 Days and Accruing	0	0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	482	2,773
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	12	134
90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,914	706
Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	2,408	3,613
Current
Financing Receivable, Past Due [Line Items]
Total Loans	708,301	684,255
Real estate loans: | One-to-four family
Financing Receivable, Past Due [Line Items]
Total Loans	221,832	207,660
> 90 Days and Accruing	0	0
Real estate loans: | One-to-four family | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	74	1,805
Real estate loans: | One-to-four family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	58
Real estate loans: | One-to-four family | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,535	87
Real estate loans: | One-to-four family | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	1,609	1,950
Real estate loans: | One-to-four family | Current
Financing Receivable, Past Due [Line Items]
Total Loans	220,223	205,710
Real estate loans: | Home equity
Financing Receivable, Past Due [Line Items]
Total Loans	13,798	13,250
> 90 Days and Accruing	0	0
Real estate loans: | Home equity | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Home equity | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Home equity | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	136	140
Real estate loans: | Home equity | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	136	140
Real estate loans: | Home equity | Current
Financing Receivable, Past Due [Line Items]
Total Loans	13,662	13,110
Real estate loans: | Commercial and multifamily
Financing Receivable, Past Due [Line Items]
Total Loans	279,892	278,175
> 90 Days and Accruing	0	0
Real estate loans: | Commercial and multifamily | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Commercial and multifamily | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Commercial and multifamily | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Commercial and multifamily | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Commercial and multifamily | Current
Financing Receivable, Past Due [Line Items]
Total Loans	279,892	278,175
Real estate loans: | Construction and land
Financing Receivable, Past Due [Line Items]
Total Loans	70,402	63,105
> 90 Days and Accruing	0	0
Real estate loans: | Construction and land | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	84	837
Real estate loans: | Construction and land | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Construction and land | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Real estate loans: | Construction and land | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	84	837
Real estate loans: | Construction and land | Current
Financing Receivable, Past Due [Line Items]
Total Loans	70,318	62,268
Consumer loans: | Manufactured homes
Financing Receivable, Past Due [Line Items]
Total Loans	22,179	21,636
> 90 Days and Accruing	0	0
Consumer loans: | Manufactured homes | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	75	123
Consumer loans: | Manufactured homes | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Consumer loans: | Manufactured homes | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	73	59
Consumer loans: | Manufactured homes | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	148	182
Consumer loans: | Manufactured homes | Current
Financing Receivable, Past Due [Line Items]
Total Loans	22,031	21,454
Consumer loans: | Floating homes
Financing Receivable, Past Due [Line Items]
Total Loans	59,784	59,268
> 90 Days and Accruing	0	0
Consumer loans: | Floating homes | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Consumer loans: | Floating homes | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Consumer loans: | Floating homes | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	244
Consumer loans: | Floating homes | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	244
Consumer loans: | Floating homes | Current
Financing Receivable, Past Due [Line Items]
Total Loans	59,784	59,024
Consumer loans: | Other consumer
Financing Receivable, Past Due [Line Items]
Total Loans	18,370	16,748
> 90 Days and Accruing	0	0
Consumer loans: | Other consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	249	2
Consumer loans: | Other consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	12	76
Consumer loans: | Other consumer | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Consumer loans: | Other consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	261	78
Consumer loans: | Other consumer | Current
Financing Receivable, Past Due [Line Items]
Total Loans	18,109	16,670
Commercial business
Financing Receivable, Past Due [Line Items]
Total Loans	24,452	28,026
> 90 Days and Accruing	0	0
Commercial business | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	6
Commercial business | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Commercial business | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	170	176
Commercial business | Total Past Due
Financing Receivable, Past Due [Line Items]
Total Loans	170	182
Commercial business | Current
Financing Receivable, Past Due [Line Items]
Total Loans	$ 24,282	$ 27,844

Loans - Schedule of Credit Risk

Loans - Schedule of Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	$ 710,709	$ 687,868
Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	705,962	682,316
Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	4,747	5,552
Real estate loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	585,924	562,190
Real estate loans: | One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	221,832	207,660
Real estate loans: | One-to-four family | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	220,156	205,453
Real estate loans: | One-to-four family | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	1,676	2,207
Real estate loans: | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	13,798	13,250
Real estate loans: | Home equity | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	13,643	13,110
Real estate loans: | Home equity | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	155	140
Real estate loans: | Commercial and multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	279,892	278,175
Real estate loans: | Commercial and multifamily | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	277,556	275,795
Real estate loans: | Commercial and multifamily | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	2,336	2,380
Real estate loans: | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	70,402	63,105
Real estate loans: | Construction and land | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	70,371	63,072
Real estate loans: | Construction and land | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	31	33
Consumer loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	100,333	97,652
Consumer loans: | Manufactured homes
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	22,179	21,636
Consumer loans: | Manufactured homes | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	22,044	21,514
Consumer loans: | Manufactured homes | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	135	122
Consumer loans: | Floating homes
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	59,784	59,268
Consumer loans: | Floating homes | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	59,784	58,775
Consumer loans: | Floating homes | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	0	493
Consumer loans: | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	18,370	16,748
Consumer loans: | Other consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	18,126	16,748
Consumer loans: | Other consumer | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	244	0
Commercial business
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	24,452	28,026
Commercial business | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	24,282	27,850
Commercial business | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	$ 170	$ 176

Loans - Schedule of Impaired Lo

Loans - Schedule of Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Impaired Loans [Abstract]
Unpaid Principal Balance	$ 6,928		$ 7,836
Without Allowance	5,514		6,375
With Allowance	1,306		1,350
Total Recorded Investment	6,820		7,725
Related Allowance	261		293
Average Recorded Investment	7,273	$ 5,800
Interest Income Recognized	68	48
Real estate loans: | One-to-four family
Impaired Loans [Abstract]
Unpaid Principal Balance	3,566		4,177
Without Allowance	2,510		3,109
With Allowance	948		957
Total Recorded Investment	3,458		4,066
Related Allowance	109		112
Average Recorded Investment	3,762	3,575
Interest Income Recognized	25	29
Real estate loans: | Home equity
Impaired Loans [Abstract]
Unpaid Principal Balance	228		215
Without Allowance	155		140
With Allowance	73		75
Total Recorded Investment	228		215
Related Allowance	6		7
Average Recorded Investment	221	290
Interest Income Recognized	4	5
Real estate loans: | Commercial and multifamily
Impaired Loans [Abstract]
Unpaid Principal Balance	2,336		2,380
Without Allowance	2,336		2,380
With Allowance	0		0
Total Recorded Investment	2,336		2,380
Related Allowance	0		0
Average Recorded Investment	2,358	353
Interest Income Recognized	29	0
Real estate loans: | Construction and land
Impaired Loans [Abstract]
Unpaid Principal Balance	66		68
Without Allowance	31		33
With Allowance	35		35
Total Recorded Investment	66		68
Related Allowance	4		4
Average Recorded Investment	67	76
Interest Income Recognized	1	0
Consumer loans: | Manufactured homes
Impaired Loans [Abstract]
Unpaid Principal Balance	214		221
Without Allowance	68		44
With Allowance	146		177
Total Recorded Investment	214		221
Related Allowance	116		144
Average Recorded Investment	218	262
Interest Income Recognized	4	5
Consumer loans: | Floating homes
Impaired Loans [Abstract]
Unpaid Principal Balance	0		493
Without Allowance	0		493
With Allowance	0		0
Total Recorded Investment	0		493
Related Allowance	0		0
Average Recorded Investment	247	516
Interest Income Recognized	0	3
Consumer loans: | Other consumer
Impaired Loans [Abstract]
Unpaid Principal Balance	348		106
Without Allowance	244		0
With Allowance	104		106
Total Recorded Investment	348		106
Related Allowance	26		26
Average Recorded Investment	227	114
Interest Income Recognized	4	1
Commercial business
Impaired Loans [Abstract]
Unpaid Principal Balance	170		176
Without Allowance	170		176
With Allowance	0		0
Total Recorded Investment	170		176
Related Allowance	0		$ 0
Average Recorded Investment	173	614
Interest Income Recognized	$ 1	$ 5

Fair Value Measurements -Schedu

Fair Value Measurements -Schedule of Fair Value Hierarchy for Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
FINANCIAL ASSETS:
Available-for-sale securities, at fair value	$ 10,223	$ 8,419
Held-to-maturity securities	2,056	0
Mortgage servicing rights	4,668	4,273	$ 4,109	$ 3,780
Level 1
FINANCIAL ASSETS:
Cash and cash equivalents	197,091	183,590
Available-for-sale securities, at fair value	0	0
Held-to-maturity securities	0
Loans held-for-sale	0	0
Loans held-for-portfolio, net	0	0
Mortgage servicing rights	0	0
FHLB stock	0	0
FINANCIAL LIABILITIES:
Non-maturity deposits	0	0
Time deposits	0	0
Subordinated notes	0	0
Level 2
FINANCIAL ASSETS:
Cash and cash equivalents	0	0
Available-for-sale securities, at fair value	10,223	8,419
Held-to-maturity securities	2,056
Loans held-for-sale	1,297	3,094
Loans held-for-portfolio, net	0	0
Mortgage servicing rights	0	0
FHLB stock	1,117	1,046
FINANCIAL LIABILITIES:
Non-maturity deposits	737,598	692,598
Time deposits	99,415	106,834
Subordinated notes	11,644	11,634
Level 3
FINANCIAL ASSETS:
Cash and cash equivalents	0	0
Available-for-sale securities, at fair value	0	0
Held-to-maturity securities	0
Loans held-for-sale	0	0
Loans held-for-portfolio, net	688,447	675,154
Mortgage servicing rights	4,668	4,273
FHLB stock	0	0
FINANCIAL LIABILITIES:
Non-maturity deposits	0	0
Time deposits	0	0
Subordinated notes	0	0
Carrying Value
FINANCIAL ASSETS:
Cash and cash equivalents	197,091	183,590
Available-for-sale securities, at fair value	10,223	8,419
Held-to-maturity securities	2,223
Loans held-for-sale	1,297	3,094
Loans held-for-portfolio, net	703,078	680,092
Mortgage servicing rights	4,668	4,273
FHLB stock	1,117	1,046
FINANCIAL LIABILITIES:
Non-maturity deposits	737,598	692,598
Time deposits	98,493	105,722
Subordinated notes	11,644	11,634
Estimated Fair Value
FINANCIAL ASSETS:
Cash and cash equivalents	197,091	183,590
Available-for-sale securities, at fair value	10,223	8,419
Held-to-maturity securities	2,056
Loans held-for-sale	1,297	3,094
Loans held-for-portfolio, net	688,447	675,154
Mortgage servicing rights	4,668	4,273
FHLB stock	1,117	1,046
FINANCIAL LIABILITIES:
Non-maturity deposits	737,598	692,598
Time deposits	99,415	106,834
Subordinated notes	$ 11,644	$ 11,634

Fair Value Measurements -Sche_2

Fair Value Measurements -Schedule of Fair value of Assets Measured on Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Recurring
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
Municipal bonds	$ 6,278	$ 6,066
Agency mortgage-backed securities	3,945	2,353
Mortgage servicing rights	4,668	4,273
Recurring | Level 1
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
Municipal bonds	0	0
Agency mortgage-backed securities	0	0
Mortgage servicing rights	0	0
Recurring | Level 2
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
Municipal bonds	6,278	6,066
Agency mortgage-backed securities	3,945	2,353
Mortgage servicing rights	0	0
Recurring | Level 3
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
Municipal bonds	0	0
Agency mortgage-backed securities	0	0
Mortgage servicing rights	4,668	4,273
Nonrecurring
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	659	659
Impaired loans	6,820	7,725
Nonrecurring | Level 1
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	0	0
Impaired loans	0	0
Nonrecurring | Level 2
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	0	0
Impaired loans	0	0
Nonrecurring | Level 3
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	659	659
Impaired loans	$ 6,820	$ 7,725

Fair Value Measurements -Summar

Fair Value Measurements -Summary of Quantitative Information (Details) - Level 3 - Discounted cash flow	Mar. 31, 2022	Dec. 31, 2021
Recurring | Mortgage Servicing Rights | Minimum | Prepayment speed assumption
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	1.54	2.04
Recurring | Mortgage Servicing Rights | Minimum | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.105	0.105
Recurring | Mortgage Servicing Rights | Maximum | Prepayment speed assumption
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	4.40	3.44
Recurring | Mortgage Servicing Rights | Maximum | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.145	0.145
Recurring | Mortgage Servicing Rights | Weighted Average | Prepayment speed assumption
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	1.64	2.05
Recurring | Mortgage Servicing Rights | Weighted Average | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.125	0.125
Nonrecurring | Impaired loans | Minimum | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
OREO and repossessed assets	0	0
Nonrecurring | Impaired loans | Maximum | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
OREO and repossessed assets	0.10	0.10
Nonrecurring | Impaired loans | Weighted Average | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
OREO and repossessed assets	0.04	0.04

Mortgage Servicing Rights - Nar

Mortgage Servicing Rights - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Servicing Assets at Fair Value [Line Items]
Mortgage servicing rights portfolio	$ 502,500		$ 508,100
Contractually specified servicing, late and ancillary fees earned on the mortgage servicing rights	320	$ 312
Federal National Mortgage Association
Servicing Assets at Fair Value [Line Items]
Loans serviced for others	499,400		504,100
Other financial institutions
Servicing Assets at Fair Value [Line Items]
Loans serviced for others	$ 3,100		$ 4,000

Mortgage Servicing Rights - Sum

Mortgage Servicing Rights - Summary of Change in Balance of Mortgage Servicing Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance, at fair value	$ 4,273	$ 3,780
Servicing rights that result from transfers and sale of financial assets	127	604
Changes in fair value:
Due to changes in model inputs or assumptions and other	268	(275)
Ending balance, at fair value	$ 4,668	$ 4,109

Mortgage Servicing Rights -Mort

Mortgage Servicing Rights -Mortgage Service Rights Assumptions (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Transfers and Servicing [Abstract]
Prepayment speed (Public Securities Association “PSA” model)	164.00%	205.00%
Weighted-average life	6 years 8 months 12 days	5 years 9 months 18 days
Discount rate	12.50%	12.50%

Borrowings, FHLB Stock and Su_2

Borrowings, FHLB Stock and Subordinated Notes (Details) - USD ($)	1 Months Ended	3 Months Ended
	Sep. 30, 2020	Mar. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Investment in FHLB stock		$ 1,117,000	$ 1,046,000
Subordinated notes, net		11,644,000	11,634,000
Subordinated Debt
Short-term Debt [Line Items]
Aggregate principal amount	$ 12,000,000
Subordinated notes, net		11,600,000	11,600,000
Subordinated Debt | Period before October 1, 2025
Short-term Debt [Line Items]
Interest rate	5.25%
Subordinated Debt | Period after October 1, 2025
Short-term Debt [Line Items]
Incremental term	3 months
Subordinated Debt | Period after October 1, 2025 | SOFR
Short-term Debt [Line Items]
Basis spread on variable rate	5.13%
Line of Credit | Pacific Coast Banker's Bank
Short-term Debt [Line Items]
Amount available to borrow under loan agreement		20,000,000
Outstanding borrowings		$ 0	0
Term period		1 year
FHLB
Short-term Debt [Line Items]
Amount available to borrow under loan agreement		$ 413,900,000	417,700,000
Outstanding borrowings		0	0
FHLB | Letter of Credit
Short-term Debt [Line Items]
Letters of credit to secure public deposits		13,000,000	11,500,000
Net remaining amount available		95,800,000	101,500,000
FHLB | One-to-four family
Short-term Debt [Line Items]
Loans used as collateral for credit facility		57,300,000	59,700,000
FHLB | Commercial and multifamily
Short-term Debt [Line Items]
Loans used as collateral for credit facility		51,000,000	52,900,000
FHLB | Home equity
Short-term Debt [Line Items]
Loans used as collateral for credit facility		$ 467,000	$ 482,000

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income available to common stockholders, basic	$ 1,723	$ 2,451
Net income available to common stockholders, diluted	$ 1,723	$ 2,451
Weighted average number of shares outstanding, basic (in shares)	2,602,168	2,571,726
Effect of potentially dilutive common shares (in shares)	38,000	39,000
Weighted average number of shares outstanding, diluted, total (in shares)	2,640,359	2,610,986
Earnings per share, basic (in dollars per share)	$ 0.66	$ 0.95
Earnings per share, diluted (in dollars per share)	$ 0.65	$ 0.93
Undistributed earnings (loss) allocated to participating securities, basic	$ 12	$ 12
Anti-dilutive securities not included in computation of diluted earnings per common share (in shares)	2,656	2,793

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options and Restricted Stock (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)planshares	Mar. 31, 2021USD ($)
Restricted Stock Awards [Abstract]
Share-based compensation expense | $	$ 203	$ 166
Stock Options
Restricted Stock Awards [Abstract]
Cumulative number of shares issued (in shares)	284,202
Restricted Stock
Restricted Stock Awards [Abstract]
Cumulative number of shares issued (in shares)	151,651
2013 Plan
Restricted Stock Awards [Abstract]
Share-based compensation arrangement by share-based payment award, number of existing equity incentive plans | plan	1
2013 Plan | Stock Options and Stock Appreciation Rights
Restricted Stock Awards [Abstract]
Common stock approved (in shares)	181,750
2013 Plan | Restricted Stock and Restricted Stock Units
Restricted Stock Awards [Abstract]
Common stock approved (in shares)	116,700

Stock-based Compensation - St_2

Stock-based Compensation - Stock Option Awards (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Stock Option Awards [Abstract]
Term of awards	10 years
Shares
Outstanding, beginning of period (in shares)	91,316
Granted (in shares)	12,800	12,248
Exercised (in shares)	(2,421)
Forfeited (in shares)	(452)
Outstanding, end of period (in shares)	101,243		91,316
Exercisable (in shares)	79,331
Expected to vest (in shares)	101,243
Weighted- Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 24.59
Granted (in dollars per share)	42.85
Exercised (in dollars per share)	19.49
Forfeited (in dollars per share)	32.53
Outstanding, end of period (in dollars per share)	26.98		$ 24.59
Exercisable (in dollars per share)	23.97
Expected to vest (in dollars per share)	$ 26.98
Additional Disclosures
Forfeiture rate	0.00%
Outstanding, weighted-average remaining contractual term	5 years 2 months 15 days		4 years 9 months 7 days
Exercisable, weighted-average remaining contractual term	4 years 2 months 4 days
Expected to vest, assuming a 0% forfeiture rate over the vesting term, weighted-average remaining contractual term	5 years 2 months 15 days
Outstanding, aggregate intrinsic value	$ 1,186		$ 1,773
Exercisable, aggregate intrinsic value	1,134
Expected to vest, assuming a 0% forfeiture rate over the vesting term, aggregate intrinsic value	1,186
Unrecognized compensation cost	$ 164
Share-based compensation arrangement, fair value assumptions and methodology [Abstract]
Annual dividend yield	1.59%	1.60%
Expected volatility	26.48%	21.67%
Risk-free interest rate	1.64%	0.60%
Expected term	6 years	6 years 6 months
Weighted-average grant date fair value per option granted (in dollars per share)	$ 9.95	$ 5.64
Maximum
Additional Disclosures
Remaining weighted-average vesting period	3 years
2008 Plan
Stock Option Awards [Abstract]
Annual vesting percentage	20.00%
Vesting commencement period from grant date	1 year
2013 Plan | Minimum
Stock Option Awards [Abstract]
Award vesting period	1 year
2013 Plan | Maximum
Stock Option Awards [Abstract]
Award vesting period	4 years

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Awards (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Shares
Non-vested, beginning of period (in shares)	17,586
Granted (in shares)	9,700
Vested (in shares)	(8,432)
Forfeited (in shares)	(250)
Non-vested, end of period (in shares)	18,604
Expected to vest (in shares)	18,604
Weighted-Average Grant-Date Fair Value Per Share
Non-vested, beginning of period (in dollars per share)	$ 34.02
Granted (in dollars per share)	42.85
Vested (in dollars per share)	36.34
Forfeited (in dollars per share)	32.63
Non-vested, end of period (in dollars per share)	37.59
Expected to vest (in dollars per share)	37.59
Aggregate Intrinsic Value Per Share
Aggregate intrinsic value per share (in dollars per share)	38.10
Expected to vest (in dollars per share)	$ 38.10
Forfeiture rate	0.00%
Unrecognized compensation cost	$ 647
Remaining weighted-average vesting period	2 years 9 months 18 days
Total fair value of shares vested	$ 306	$ 264
2008 Plan
Restricted Stock Awards [Abstract]
Annual vesting percentage	20.00%
Vesting commencement period from grant date	1 year
2013 Plan | Minimum
Restricted Stock Awards [Abstract]
Award vesting period	1 year
2013 Plan | Maximum
Restricted Stock Awards [Abstract]
Award vesting period	4 years

Stock-based Compensation - Empl

Stock-based Compensation - Employee Stock Ownership Plan (Details) - Employee Stock Ownership Plan - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 31, 2012	Mar. 31, 2022	Mar. 31, 2021	Jan. 31, 2008
Employee Stock Ownership Plan [Abstract]
Number of common shares held by the trust (in shares)		144,740
Fair value of shares held by ESOP trust		$ 5,500
ESOP compensation expense		$ 205	$ 170
ESOP Borrowing in 2008
Employee Stock Ownership Plan [Abstract]
Amount borrowed by ESOP to purchase common stock				$ 1,200
ESOP Borrowing in 2012
Employee Stock Ownership Plan [Abstract]
Amount borrowed by ESOP to purchase common stock	$ 1,100
Repayment period	10 years
ESOP loan interest rate	2.25%

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Mar. 31, 2022renewalOption
Lessee, Lease, Description [Line Items]
Number of renewal options	1
Minimum
Lessee, Lease, Description [Line Items]
Initial lease term	3 years
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Initial lease term	10 years
Remaining lease term	7 years

Leases - Summary of Balance She

Leases - Summary of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 5,777	$ 5,811
Operating lease liabilities	$ 6,211	$ 6,242

Leases - Summary of Components

Leases - Summary of Components of the Leases and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Sublease income	$ (3)	$ (3)
Net lease expense	280	270
Office leases
Property, Plant and Equipment [Line Items]
Operating lease expense	$ 283	273
Weighted-average remaining lease term	6 years 8 months 12 days		7 years
Weighted-average discount rate (annualized):	2.64%		2.67%
Operating cash flows	$ 265	$ 258

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liability Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Remainder of 2022	$ 807
2023	1,054
2024	1,035
2025	896
2026	862
Thereafter	2,149
Total lease payments	6,803
Less: Present value discount	592
Present value of lease liabilities	$ 6,211	$ 6,242

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event	Apr. 26, 2022USD ($)$ / shares
Subsequent Event [Line Items]
Dividends declared (in dollars per share) | $ / shares	$ 0.17
Stock repurchase program, authorized amount | $	$ 2,000,000