Sound Financial Bancorp (SFBC) 10-Q 13 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 09, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		2,557,485
Entity Central Index Key	0001541119
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 137,977	$ 49,690
Available-for-sale (“AFS”) securities, at fair value (amortized cost of $9,445 and $9,539 as of March 31, 2024 and December 31, 2023, respectively)	8,115	8,287
Held-to-maturity (“HTM”) securities, at amortized cost (fair value of $1,730 and $1,787 at March 31, 2024 and December 31, 2023, respectively)	2,157	2,166
Loans held-for-sale	351	603
Loans held-for-portfolio	897,877	894,478
Allowance for credit losses (“ACL”) on loans	(8,598)	(8,760)
Total loans held-for-portfolio, net	889,279	885,718
Accrued interest receivable	3,617	3,452
Bank-owned life insurance (“BOLI”), net	22,037	21,860
Other real estate owned (“OREO”) and repossessed assets, net	690	575
Mortgage servicing rights (“MSRs”), at fair value	4,612	4,632
Federal Home Loan Bank ("FHLB") stock, at cost	2,406	2,396
Premises and equipment, net	6,685	5,240
Right of use assets	4,259	4,496
Other assets	4,500	6,106
Total assets	1,086,685	995,221
Deposits
Interest-bearing	788,217	699,813
Noninterest-bearing demand	128,666	126,726
Total deposits	916,883	826,539
Borrowings	40,000	40,000
Accrued interest payable	719	817
Lease liabilities	4,576	4,821
Other liabilities	9,578	9,563
Advance payments from borrowers for taxes and insurance	2,209	1,110
Subordinated notes, net	11,728	11,717
Total liabilities	985,693	894,567
COMMITMENTS AND CONTINGENCIES (NOTE 7)	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, 2,558,546 and 2,549,427 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	25	25
Additional paid-in capital	28,110	27,990
Retained earnings	73,907	73,627
Accumulated other comprehensive loss, net of tax	(1,050)	(988)
Total stockholders’ equity	100,992	100,654
Total liabilities and stockholders’ equity	$ 1,086,685	$ 995,221

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
STOCKHOLDERS’ EQUITY
Available-for-sale securities, amortized cost	$ 9,445	$ 9,539
Held-to-maturity securities, fair value	$ 1,730	$ 1,787
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)	2,558,546	2,549,427
Common stock, shares outstanding (in shares)	2,558,546	2,549,427

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
INTEREST INCOME
Loans, including fees	$ 12,233	$ 11,381
Interest and dividends on investments, cash and cash equivalents	1,527	793
Total interest income	13,760	12,174
INTEREST EXPENSE
Deposits	5,703	2,136
Borrowings	429	499
Subordinated notes	168	168
Total interest expense	6,300	2,803
Net interest income	7,460	9,371
PROVISION FOR (RELEASE OF) CREDIT LOSSES	(33)	10
Net interest income after (release of) provision for credit losses	7,493	9,361
NONINTEREST INCOME
Service charges and fee income	612	581
Earnings on BOLI	177	151
Mortgage servicing income	282	299
Fair value adjustment on MSRs	(65)	(140)
Net gain on sale of loans	90	78
Total noninterest income	1,096	969
NONINTEREST EXPENSE
Salaries and benefits	4,543	4,485
Operations	1,457	1,441
Regulatory assessments	189	153
Occupancy	444	459
Data processing	1,017	993
Net loss on OREO and repossessed assets	6	84
Total noninterest expense	7,656	7,615
Income before provision for income taxes	933	2,715
Provision for income taxes	163	547
Net income	$ 770	$ 2,168
Earnings per common share:
Basic (in dollars per share)	$ 0.30	$ 0.84
Diluted (in dollars per share)	$ 0.30	$ 0.83
Weighted-average number of common shares outstanding:
Basic (in shares)	2,539,213	2,578,413
Diluted (in shares)	2,556,958	2,604,043

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 770	$ 2,168
Available for sale securities:
Unrealized (losses) gains arising during the period	(78)	105
Income tax benefit (expense) related to unrealized (losses) gains	16	(22)
Other comprehensive (loss) income, net of tax	(62)	83
Comprehensive income	$ 708	$ 2,251

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Impact of adoption of Accounting Standards Update (“ASU”) 2016-13	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Impact of adoption of Accounting Standards Update (“ASU”) 2016-13	Accumulated Other Comprehensive Income/(Loss), net of tax
Beginning balance (in shares) at Dec. 31, 2022			2,583,619
Beginning balance at Dec. 31, 2022	$ 97,705	$ (1,149)	$ 26	$ 28,004	$ 70,792	$ (1,149)	$ (1,117)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,168				2,168
Other comprehensive (loss) income, net of tax	83						83
Share-based compensation	192			192
Restricted stock awards issued (in shares)			8,850
Cash dividends paid on common stock	(442)				(442)
Common stock repurchased (in shares)			(204)
Common stock repurchased	(9)			(2)	(7)
Common stock surrendered (in shares)			(4,750)
Common stock surrendered	(190)			(190)
Restricted shares forfeited (in shares)			(425)
Common stock options exercised (in shares)			14,353
Common stock options exercised	247			247
Ending balance (in shares) at Mar. 31, 2023			2,601,443
Ending balance at Mar. 31, 2023	$ 98,605		$ 26	28,251	71,362	(1,149)	(1,034)
Beginning balance (in shares) at Dec. 31, 2023	2,549,427		2,549,427
Beginning balance at Dec. 31, 2023	$ 100,654		$ 25	27,990	73,627		(988)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	770				770
Other comprehensive (loss) income, net of tax	(62)						(62)
Share-based compensation	95			95
Restricted stock awards issued (in shares)			8,048
Cash dividends paid on common stock	(486)				(486)
Common stock repurchased (in shares)			(164)
Common stock repurchased	(5)			(1)	(4)
Common stock options exercised (in shares)			1,235
Common stock options exercised	$ 26			26
Ending balance (in shares) at Mar. 31, 2024	2,558,546		2,558,546
Ending balance at Mar. 31, 2024	$ 100,992		$ 25	$ 28,110	$ 73,907	$ 0	$ (1,050)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2016-13 [Member]
Cash dividends paid on common stock (in dollars per share)	$ 0.19	$ 0.17

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 770	$ 2,168
Adjustments to reconcile net income to net cash from operating activities:
Amortization of net discounts on investments	22	17
(Release of) provision for credit losses	(33)	10
Depreciation and amortization	178	178
Share based compensation	95	192
Fair value adjustment on mortgage servicing rights	65	140
Right of use assets amortization	237	236
Change in lease liabilities	(245)	(239)
Change in cash surrender value of BOLI	(177)	(151)
Net change in advances from borrowers for taxes and insurance	1,099	1,053
Net gain on sale of loans	(90)	(78)
Proceeds from sale of loans held-for-sale	4,234	3,906
Originations of loans held-for-sale	(3,937)	(5,282)
Net loss on OREO and repossessed assets	0	84
Change in operating assets and liabilities:
Accrued interest receivable	(165)	(69)
Other assets	1,549	(1,273)
Accrued interest payable	(98)	(10)
Other liabilities	15	1,080
Net cash provided by operating activities	3,519	1,962
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from principal payments, maturities and sales of available-for-sale securities	83	1,704
Proceeds from principal payments of held-to-maturity securities	9	9
Net decrease (increase) in loans	(3,570)	(4,636)
Purchases of premises and equipment, net	(1,623)	(35)
Net cash used in investing activities	(5,101)	(2,958)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	90,344	32,884
Repayment of borrowings	0	(8,000)
FHLB stock purchased	(10)	249
Common stock repurchases	(5)	(9)
Purchase of stock surrendered to pay tax liability	0	(190)
Dividends paid on common stock	(486)	(442)
Proceeds from common stock option exercises	26	247
Net cash provided by financing activities	89,869	24,739
Net change in cash and cash equivalents	88,287	23,743
Cash and cash equivalents, beginning of period	49,690	57,836
Cash and cash equivalents, end of period	137,977	81,579
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Interest paid on deposits and borrowings	6,398	2,813
ROU assets obtained in exchange for new operating lease liabilities	0	334
Impact of adoption of ASU 2016-13 on retained earnings	100,992	98,605
Retained Earnings
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	770	2,168
SUPPLEMENTAL CASH FLOW INFORMATION:
Impact of adoption of ASU 2016-13 on retained earnings	73,907	71,362
Impact of adoption of ASU 2016-13 on retained earnings | Retained Earnings
SUPPLEMENTAL CASH FLOW INFORMATION:
Impact of adoption of ASU 2016-13 on retained earnings	$ 0	$ (1,149)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2024
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, 2023, as filed with the SEC on March 21, 2024 (“2023 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. We have not made any changes in our significant accounting policies from those disclosed in the 2023 Form 10-K.

Accounting Pronouncements Recen

Accounting Pronouncements Recently Issued or Adopted	3 Months Ended
	Mar. 31, 2024
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 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 modifications to eligible contracts (e.g., loans, debt securities, derivatives, borrowings) 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 related 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. ASU 2020-04 has not had, and is not expected to have, a material impact on the Company’s consolidated financial statements. 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 periods including and subsequent to March 12, 2020 through December 31, 2022. Based upon amendments provided in ASU 2022-06 discussed below, provisions of ASU 2021-01 can now generally be applied through December 31, 2024. ASU 2021-01 has not had, and is not expected to have, a material impact on the Company’s consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU 2022-06 extends the period of time entities can utilize the reference rate reform relief guidance provided by ASU 2020-04 and ASU 2021-01, which are discussed above. ASU 2022-06 was effective upon issuance and defers the sunset date of this prior guidance to December 31, 2024, after which entities will no longer be permitted to apply the relief guidance in Topic 848. ASU 2022-06 has not had, and is not expected to have, a material impact on the Company’s consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures .” The amended guidance requires incremental reportable segment disclosures, primarily about significant segment expenses. The amendments also require entities with a single reportable segment to provide all disclosures required by these amendments, and all existing segment disclosures. The amendments will be applied retrospectively to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of ASU 2023-07 on the footnotes to our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amended guidance enhances income tax disclosures primarily related to the effective tax rate reconciliation and income taxes paid information. This guidance requires disclosure of specific categories in the effective tax rate reconciliation and further information on reconciling items meeting a quantitative threshold. In addition, the amended guidance requires disaggregating income taxes paid (net of refunds received) by federal, state, and foreign taxes. It also requires disaggregating individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The amended guidance is effective for fiscal years beginning after December 15, 2024. The guidance can be applied either prospectively or retrospectively. We do expect the adoption of ASU 2023-09 to have a material impact on the footnotes to our consolidated financial statements.

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments [Abstract]
Investments	Investments At March 31, 2024, the Company did not own any debt securities classified as trading or any equity investment securities, except for the FHLB securities described in “Note 8 — Borrowings, FHLB Stock and Subordinated Notes.” 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, 2024 Municipal bonds $ 6,384 $ 11 $ (953) $ 5,442 Agency mortgage-backed securities 3,061 4 (392) 2,673 Total $ 9,445 $ 15 $ (1,345) $ 8,115 December 31, 2023 Municipal bonds $ 6,394 $ 12 $ (878) $ 5,528 Agency mortgage-backed securities 3,145 7 (393) 2,759 Total $ 9,539 $ 19 $ (1,271) $ 8,287 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, 2024 Municipal bonds $ 704 $ — $ (182) $ 522 Agency mortgage-backed securities 1,453 — (245) 1,208 Total $ 2,157 $ — $ (427) $ 1,730 December 31, 2023 Municipal bonds $ 704 $ — $ (164) $ 540 Agency mortgage-backed securities 1,462 — (215) 1,247 Total $ 2,166 $ — $ (379) $ 1,787 The amortized cost and fair value of AFS and HTM securities at March 31, 2024, 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 agency mortgage-backed securities, are shown separately. March 31, 2024 Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Due after one year through five years $ 455 $ 453 $ — $ — Due after five years through ten years 1,199 1,210 — — Due after ten years 4,730 3,779 704 522 Agency mortgage-backed securities 3,061 2,673 1,453 1,208 Total $ 9,445 $ 8,115 $ 2,157 $ 1,730 There were no pledged securities at March 31, 2024 or December 31, 2023. There were no sales of AFS or HTM securities during the three months ended March 31, 2024 and 2023. Accrued interest receivable on securities totaled $77 thousand and $49 thousand at March 31, 2024 and December 31, 2023, respectively, in the accompanying Condensed Consolidated Balance Sheets. Accrued interest receivable is excluded from the estimate of expected credit losses. The following table summarizes the aggregate fair value and gross unrealized loss by length of time of those investments for which an allowance for credit losses has not been recorded that have been in a continuous unrealized loss position at the dates indicated (in thousands): March 31, 2024 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities Municipal bonds $ 453 $ (2) $ 3,779 $ (951) $ 4,232 $ (953) Agency mortgage-backed securities 47 (1) 2,228 (391) 2,275 (392) Total available-for-sale securities $ 500 $ (3) $ 6,007 $ (1,342) $ 6,507 $ (1,345) Held-to-maturity securities Municipal bonds $ — $ — $ 522 $ (182) $ 522 $ (182) Agency mortgage-backed securities — — 1,208 (245) 1,208 (245) Total held-to-maturity securities $ — $ — $ 1,730 $ (427) $ 1,730 $ (427) December 31, 2023 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities Municipal bonds — — 3,862 (878) 3,862 (878) Agency mortgage-backed securities 48 (1) 2,290 (392) 2,338 (393) Total $ 48 $ (1) $ 6,152 $ (1,270) $ 6,200 $ (1,271) Held-to-maturity securities Municipal bonds $ — $ — $ 540 $ (164) $ 540 $ (164) Agency mortgage-backed securities — — 1,247 (215) 1,247 (215) Total held-to-maturity securities $ — $ — $ 1,787 $ (379) $ 1,787 $ (379) There was no allowance for credit losses on securities at March 31, 2024 or December 31, 2023. At March 31, 2024, the total securities portfolio consisted of 12 agency mortgage-backed securities and 11 municipal bonds, with a total portfolio fair value of $9.8 million. At December 31, 2023, the total securities portfolio consisted of 11 municipal bonds and 12 agency mortgage-backed securities, with a total portfolio fair value of $10.1 million. At March 31, 2024, there were three securities in an unrealized loss position for less than 12 months, and 16 securities in an unrealized loss position for more than 12 months. All three securities in an unrealized loss position for less than 12 months were classified as AFS. At December 31, 2023, there was one security in an unrealized loss position for less than 12 months, and 16 securities 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. There was no provision for credit losses recognized for investment securities during the three months ended March 31, 2024, because the declines in fair value were 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, 2024
Receivables [Abstract]
Loans	Loans Loans-held-for portfolio at the dates indicated, excluding loans held-for-sale, were as follows (in thousands): March 31, December 31, Real estate loans: One-to-four family $ 279,213 $ 279,448 Home equity 24,380 23,073 Commercial and multifamily 324,483 315,280 Construction and land 111,726 126,758 Total real estate loans 739,802 744,559 Consumer loans: Manufactured homes 37,583 36,193 Floating homes 84,237 75,108 Other consumer 18,847 19,612 Total consumer loans 140,667 130,913 Commercial business loans 19,075 20,688 Total loans held-for-portfolio 899,544 896,160 Premiums for purchased loans (1) 808 829 Deferred fees, net (2,475) (2,511) Total loans held-for-portfolio, gross 897,877 894,478 Allowance for credit losses — loans (8,598) (8,760) Total loans held-for-portfolio, net $ 889,279 $ 885,718 (1) Includes premiums resulting from purchased loans of $458 thousand related to one-to-four family loans, $270 thousand related to commercial and multifamily loans, and $80 thousand related to commercial business loans as of March 31, 2024. Includes premiums resulting from purchased loans of $465 thousand related to one-to-four family loans, $280 thousand related to commercial and multifamily loans, and $84 thousand related to commercial business loans as of December 31, 2023. The following table presents a summary of activity in the ACL on loans and unfunded commitments for the periods indicated (in thousands): Three Months Ended March 31, 2024 2023 Allowance for Credit Losses - Loans Reserve for Unfunded Loan Commitments Allowance for Credit Losses Allowance for Credit Losses - Loans Reserve for Unfunded Loan Commitments Allowance for Credit Losses Balance at beginning of period $ 8,760 $ 193 $ 8,953 $ 7,599 $ 335 $ 7,934 Adoption of ASU 2016-13 (1) — — — 760 695 1,455 (Release of) provision for credit losses during the period (106) 73 (33) 245 (235) 10 Net (charge-offs)/recoveries during the period (56) — (56) (72) — (72) Balance at end of period $ 8,598 $ 266 $ 8,864 $ 8,532 $ 795 $ 9,327 (1) Represents the impact of adopting ASU 2016-13, Financial Instruments — Credit Losses on January 1, 2023. Since that date, as a result of adopting ASU 2016-13, our methodology to compute our allowance for credit losses has been based on a current expected credit loss methodology, rather than the previously applied incurred loss methodology. Accrued interest receivable on loans receivable totaled $3.4 million at both March 31, 2024 and December 31, 2023 in the accompanying Condensed Consolidated Balance Sheets. Accrued interest receivable is excluded from the estimate of expected credit losses. The following tables summarize the activity in the allowance for credit losses - loans, excluding accrued interest, for the periods indicated (in thousands): Three Months Ended March 31, 2024 Beginning Charge-offs Recoveries Provision (Release of) Ending One-to-four family $ 2,630 $ — $ — $ 280 $ 2,910 Home equity 185 — — (6) 179 Commercial and multifamily 1,070 — — 36 1,106 Construction and land 1,349 — — (20) 1,329 Manufactured homes (1) 971 (23) — (115) 833 Floating homes 2,022 — — (223) 1,799 Other consumer (2) 426 (39) 6 (60) 333 Commercial business 107 — — 2 109 Total $ 8,760 $ (62) $ 6 $ (106) $ 8,598 (1) During the three months ended March 31, 2024, there was one manufactured home loan that was charged off and then subsequently foreclosed upon. (2) During the three months ended March 31, 2024, the gross charge-offs related entirely to deposit overdrafts that were charged off. Three Months Ended March 31, 2023 Beginning Charge-offs Recoveries Provision Ending One-to-four family $ 1,771 $ — $ — $ (67) $ 2,059 Home equity 132 — — (4) 197 Commercial and multifamily 2,501 — — 44 2,225 Construction and land 1,209 — — 210 2,778 Manufactured homes 462 — — 1 283 Floating homes 456 — — (11) 611 Other consumer (1) 324 (79) 7 70 159 Commercial business 256 — — (5) 216 Unallocated 488 — — 7 4 Total $ 7,599 $ (79) $ 7 $ 245 $ 8,532 (1) During the three months ended March 31, 2023, the gross charge-offs related entirely to deposit overdrafts that were charged off. 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. Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading. The grades for watch and special mention loans are used by the Company to identify and track potential problem loans which do not rise to the levels described for substandard, doubtful, or loss. These are loans which have been criticized and deserve management's close attention based upon known characteristics such as periodic payment delinquency, failure to comply with contractual terms of the loan, or collateral concerns. Loans identified as watch, special mention, substandard, doubtful, or loss are subject to additional problem loan reporting to management every three months. When we classify problem assets as either substandard or doubtful, we may determine that these assets should be individually analyzed if they no longer share common risk characteristics with the rest of the portfolio. When we classify problem assets as a loss, we are 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 FDIC (the Bank’s federal regulator) and the WDFI (the Bank’s state banking regulator), which can order the establishment of additional credit loss allowances. Assets which do not currently expose us to sufficient risk to warrant classification as substandard or doubtful but possess weaknesses are required to be designated as special mention. There were no loans classified as doubtful or loss as of March 31, 2024 and December 31, 2023. The following tables present the internally assigned grades as of March 31, 2024 and December 31, 2023, by type of loan and origination year (in thousands): At March 31, 2024 Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving Loans Amortized Cost Basis Converted to Term 2024 2023 2022 2021 2020 Prior Total One-to-four family: Pass $ 9,350 $ 25,154 $ 83,227 $ 109,784 $ 16,015 $ 35,051 $ — $ — $ 278,581 Substandard — — 259 114 — 504 — — 877 Total one-to-four family $ 9,350 $ 25,154 $ 83,486 $ 109,898 $ 16,015 $ 35,555 $ — $ — $ 279,458 Home equity: Pass $ 1,429 $ 3,876 $ 2,511 $ 1,051 $ 299 $ 1,622 $ 12,593 $ 811 $ 24,192 Substandard — — — — — 62 282 69 413 Total home equity $ 1,429 $ 3,876 $ 2,511 $ 1,051 $ 299 $ 1,684 $ 12,875 $ 880 $ 24,605 Commercial and multifamily: Pass $ 776 $ 21,071 $ 87,192 $ 93,119 $ 22,556 $ 86,776 $ — $ — $ 311,490 Special mention — — — — 4,653 1,396 — — 6,049 Substandard — — 1,007 — — 4,848 — — 5,855 Total commercial and multifamily $ 776 $ 21,071 $ 88,199 $ 93,119 $ 27,209 $ 93,020 $ — $ — $ 323,394 Construction and land: Pass $ 1,204 $ 30,957 $ 34,855 $ 40,201 $ 955 $ 2,261 $ — $ — $ 110,433 Substandard — — — — — 714 — — 714 Total construction and land $ 1,204 $ 30,957 $ 34,855 $ 40,201 $ 955 $ 2,975 $ — $ — $ 111,147 Manufactured homes: Pass $ 2,204 $ 13,605 $ 7,876 $ 4,228 $ 2,061 $ 7,263 $ — $ — $ 37,237 Substandard — — 44 — — 185 — — 229 Total manufactured homes $ 2,204 $ 13,605 $ 7,920 $ 4,228 $ 2,061 $ 7,448 $ — $ — $ 37,466 Floating homes: Pass $ 12,557 $ 8,408 $ 17,462 $ 24,928 $ 6,428 $ 10,850 $ — $ — $ 80,633 Total floating homes $ 12,557 $ 8,408 $ 20,636 $ 24,928 $ 6,428 $ 10,850 $ — $ — $ 83,807 Other consumer: Pass $ 1,253 $ 4,181 $ 737 $ 3,794 $ 5,830 $ 2,533 $ 533 $ — $ 18,861 Total other consumer $ 1,253 $ 4,181 $ 737 $ 3,794 $ 5,830 $ 2,533 $ 533 $ — $ 18,861 Commercial business: Pass $ 138 $ 894 $ 1,868 $ 3,438 $ 358 $ 4,779 $ 7,467 $ — $ 18,942 Substandard — — 45 112 — — 40 — 197 Total commercial business $ 138 $ 894 $ 1,913 $ 3,550 $ 358 $ 4,779 $ 7,507 $ — $ 19,139 Total loans Pass $ 28,911 $ 108,146 $ 235,728 $ 280,543 $ 54,502 $ 151,135 $ 20,593 $ 811 $ 880,369 Special mention — — — — 4,653 1,396 — — 6,049 Substandard — — 4,529 226 — 6,313 322 69 11,459 Total loans $ 28,911 $ 108,146 $ 240,257 $ 280,769 $ 59,155 $ 158,844 $ 20,915 $ 880 $ 897,877 At December 31, 2023 Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving Loans Amortized Cost Basis 2023 2022 2021 2020 2019 Prior Total One-to-four family: Pass $ 26,272 $ 84,467 $ 110,488 $ 16,126 $ 13,029 $ 28,139 $ — $ — $ 278,521 Substandard — 259 119 — 260 553 — — 1,191 Total one-to-four family 26,272 84,726 110,607 16,126 13,289 28,692 — — 279,712 Home equity: Pass 3,963 2,783 1,072 302 95 1,608 12,982 2 22,807 Substandard — — — — — 63 445 — 508 Total home equity 3,963 2,783 1,072 302 95 1,671 13,427 2 23,315 Commercial and multifamily: Pass 21,144 75,960 93,932 22,731 29,822 58,388 — — 301,977 Special mention — — — 3,365 — 350 — — 3,715 Substandard — 1,036 — 1,317 5,134 1,121 — — 8,608 Total commercial and multifamily 21,144 76,996 93,932 27,413 34,956 59,859 — — 314,300 Construction and land: Pass 32,057 53,302 36,285 967 601 2,031 — — 125,243 Substandard — — — — 689 44 — — 733 Total construction and land 32,057 53,302 36,285 967 1,290 2,075 — — 125,976 Manufactured homes: Pass 13,696 7,958 4,365 2,160 2,075 5,498 — — 35,752 Substandard 115 46 — 22 86 64 — — 333 Total manufactured homes 13,811 8,004 4,365 2,182 2,161 5,562 — — 36,085 Floating homes: Pass 8,779 21,555 26,196 6,471 1,865 9,867 — — 74,733 Total floating homes 8,779 21,555 26,196 6,471 1,865 9,867 — — 74,733 Other consumer: Pass 4,629 1,845 3,884 5,883 598 2,237 539 — 19,615 Total other consumer 4,629 1,845 3,884 5,883 598 2,237 539 — 19,615 Commercial business: Pass 987 437 3,564 400 227 5,848 6,854 — 18,317 Substandard 2,128 53 204 — — — 40 — 2,425 Total commercial business 3,115 490 3,768 400 227 5,848 6,894 — 20,742 Pass 111,527 248,307 279,786 55,040 48,312 113,616 20,375 2 876,965 Special mention — — — 3,365 — 350 — — 3,715 Substandard 2,243 1,394 323 1,339 6,169 1,845 485 — 13,798 Total loans $ 113,770 $ 249,701 $ 280,109 $ 59,744 $ 54,481 $ 115,811 $ 20,860 $ 2 $ 894,478 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. The following table presents the amortized cost of nonaccrual loans as of the dates indicated, by type of loan (in thousands): March 31, 2024 December 31, 2023 Total Total Total Total One-to-four family $ 835 $ 575 $ 1,108 $ 848 Home equity 83 83 84 84 Commercial and multifamily 4,747 4,747 — — Construction and land 29 29 — — Manufactured homes 166 166 228 228 Floating homes 3,192 3,192 — — Other consumer 1 — 1 — Commercial business — — 2,135 2,135 Total $ 9,053 $ 8,792 $ 3,556 $ 3,295 The following tables present the aging of past due loans, based on amortized cost, as of the dates indicated, by type of loan (in thousands): March 31, 2024 30-59 Days 60-89 Days 90 Days and Greater Past Due 90 Days and Greater Past Due and Accruing Total Past Current Total Loans One-to-four family $ 556 $ — $ 711 $ — $ 1,267 $ 278,191 $ 279,458 Home equity — 268 83 — 351 24,254 24,605 Commercial and multifamily 1,346 — 3,733 — 5,079 318,315 323,394 Construction and land 823 — 30 — 853 110,294 111,147 Manufactured homes 419 — 102 — 521 36,945 37,466 Floating homes 3,174 — — — 3,174 80,633 83,807 Other consumer 22 29 — — 51 18,810 18,861 Commercial business — 55 — — 55 19,084 19,139 Total $ 6,340 $ 352 $ 4,659 $ — $ 11,351 $ 886,526 $ 897,877 December 31, 2023 30-59 Days 60-89 Days 90 Days and Greater Past Due 90 Days and Greater Past Due and Accruing Total Past Current Total Loans One-to-four family $ 168 $ 870 $ 663 $ — $ 1,701 $ 278,011 $ 279,712 Home equity 345 — 84 — 429 22,893 23,322 Commercial and multifamily 4,116 1,036 — — 5,151 309,149 314,300 Construction and land — — — — — 125,940 125,940 Manufactured homes 295 49 189 — 533 35,552 36,085 Floating homes — 3,226 — — 3,226 71,507 74,733 Other consumer 34 31 — — 65 19,550 19,615 Commercial business 66 — 2,128 — 2,194 18,551 20,745 Total $ 5,024 $ 5,211 $ 3,064 $ — $ 13,299 $ 881,153 $ 894,452 Loan Modifications to Borrowers Experiencing Financial Difficulty. The Company has granted modifications which can generally be described in the following categories: Principal Forgiveness : A modification in which the principal is reduced. 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. At March 31, 2024, the Company had no commitments to extend additional credit to borrowers owing loan receivables with modified terms. We have no modified loan receivables that have subsequently defaulted at March 31, 2024. Troubled debt restructurings (“TDRs”). Prior to the adoption of ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures , the Company had granted a variety of concessions to borrowers in the form of loan modifications that were considered TDRs. Loans classified as legacy TDRs totaled $1.7 million at both March 31, 2024 and December 31, 2023. Collateral Dependent Loans . Loans that have been classified as collateral dependent are loans where substantially all repayment of the loan is expected to come from the operation of or eventual liquidation of the collateral. Collateral dependent loans are evaluated individually for purposes of determining the ACL, which is determined based on the estimated fair value of the collateral. Estimates for costs to sell are included in the determination of the ACL when liquidation of the collateral is anticipated. In cases where the loan is well secured and the estimated value of the collateral exceeds the amortized cost of the loan, no ACL is recorded. The following tables summarize collateral dependent loans by collateral type as of the dates indicated (in thousands): March 31, 2024 Commercial Real Estate Residential Real Estate Land Other Residential RVs/Automobiles Business Assets Total Real estate loans: One- to four- family $ — $ 394 $ — $ 541 $ — $ — $ 935 Home equity — 83 — — — — 83 Commercial and multifamily 4,747 — — — — — 4,747 Construction and land — — 29 — — — 29 Total real estate loans 4,747 477 29 541 — — 5,794 Consumer loans: Manufactured homes — — — 166 — — 166 Floating homes — — — 3,192 — — 3,192 Total consumer loans — — — 3,358 — — 3,358 Total loans $ 4,747 $ 477 $ 29 $ 3,899 $ — $ — $ 9,152 December 31, 2023 Commercial Real Estate Residential Real Estate Land Other Residential RVs/Automobiles Business Assets Total Real estate loans: One- to four- family $ — $ 664 $ — $ 545 $ — $ — $ 1,209 Home equity — 84 — — — — 84 Total real estate loans — 748 — 545 — — 1,293 Consumer loans: Manufactured homes — — — 228 — — 228 Total consumer loans — — — 228 — — 228 Commercial business loans — — — 2,135 — — 2,135 Total loans $ — $ 748 $ — $ 2,908 $ — $ — $ 3,656

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
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, 2024 and December 31, 2023 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 (Level 1). 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 – 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 - 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, 2024 and 2023, 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 premiums/discounts are part of the valuation for exit pricing. Mortgage servicing rights –The fair value of MSRs is determined through a discounted cash flow analysis, which uses interest rates, prepayment speeds, discount rates, and delinquency rate assumptions as inputs. 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 contractual cash flows of each debt instrument discounted 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 collateral dependent loans and OREO is as follows: Collateral dependent loans - The fair value of collateral dependent loans is based on the current appraised value of the collateral less estimated costs to sell. 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 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, 2024 and 2023. The following tables present information about the level in the fair value hierarchy for the Company’s financial assets and liabilities, whether recognized or recorded at fair value or not as of the dates indicated (in thousands): March 31, 2024 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 137,977 $ 137,977 $ 137,977 $ — $ — Available-for-sale securities 8,115 8,115 — 8,115 — Held-to-maturity securities 2,157 1,730 — 1,730 — Loans held-for-sale 351 351 — 351 — Loans held-for-portfolio, net 889,279 840,700 — — 840,700 Mortgage servicing rights 4,612 4,612 — — 4,612 FINANCIAL LIABILITIES: Time deposits 321,340 321,737 — 321,737 — Borrowings 40,000 40,000 — 40,000 — Subordinated notes 11,728 12,038 — 12,038 — December 31, 2023 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 49,690 $ 49,690 $ 49,690 $ — $ — Available-for-sale securities 8,287 8,287 — 8,287 — Held-to-maturity securities 2,166 1,787 — 1,787 — Loans held-for-sale 603 603 — 603 — Loans held-for-portfolio, net 885,718 837,579 — — 837,579 Mortgage servicing rights 4,632 4,632 — — 4,632 FINANCIAL LIABILITIES: Time deposits 307,962 308,604 — 308,604 — Borrowings 40,000 40,000 — 40,000 — Subordinated notes 11,717 9,996 — 9,996 — 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, 2024 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 5,442 $ — $ 5,442 $ — Agency mortgage-backed securities 2,673 — 2,673 — Mortgage servicing rights 4,612 — — 4,612 Fair Value at December 31, 2023 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 5,528 $ — $ 5,528 $ — Agency mortgage-backed securities 2,759 — 2,759 — Mortgage servicing rights 4,632 — — 4,632 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, 2024 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 99%-205% (110%) Discount rate 10.51%-14.51% (12.51%) December 31, 2023 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 109%-208% (129%) 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 MSRs 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. As a result of the difficulty in observing certain significant valuation inputs affecting our “Level 3” fair value assets, we are required to make judgments regarding these items’ fair values. There were no assets or liabilities (excluding MSRs) measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2024 and 2023. MSRs are measured at fair value using significant unobservable inputs (Level 3) on a recurring basis and a reconciliation of this asset can be found 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, 2024 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 690 $ — $ — $ 690 Collateral dependent loans 9,152 — — 9,152 Fair Value at December 31, 2023 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 575 $ — $ — $ 575 Collateral dependent loans 3,656 — — 3,656 There were no liabilities carried at fair value, measured on a recurring or nonrecurring basis, at both March 31, 2024 and December 31, 2023.

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
	Mar. 31, 2024
Transfers and Servicing [Abstract]
Mortgage Servicing Rights	Mortgage Servicing Rights The unpaid principal balance of the Company’s mortgage servicing rights portfolio totaled $443.6 million at March 31, 2024 compared to $448.9 million at December 31, 2023. Of these total balances, the unpaid principal balance of loans serviced for Federal National Mortgage Association (“Fannie Mae”) at March 31, 2024 and December 31, 2023 were $441.5 million and $446.8 million, respectively. The unpaid principal balance of loans serviced for other financial institutions totaled $2.1 million at March 31, 2024 and $2.2 million at December 31, 2023. Loans serviced for Fannie Mae and 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, 2024 2023 Beginning balance, at fair value $ 4,632 $ 4,687 Servicing rights that result from transfers and sale of financial assets 45 40 Changes in fair value: Due to changes in model inputs or assumptions and other (1) (65) (140) Ending balance, at fair value $ 4,612 $ 4,587 (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, 2024 December 31, 2023 Prepayment speed (Public Securities Association “PSA” model) 110 % 129 % Weighted-average life 8.0 years 7.7 years Weighted average 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

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In 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, 2024
Debt Disclosure [Abstract]
Borrowings, FHLB Stock and Subordinated Notes	Borrowings, FHLB Stock and Subordinated Notes FHLB Advances The following tables present advances from the FHLB as of the dates indicated (dollars in thousands): March 31, 2024 December 31, 2023 FHLB advances: Overnight advances $ — $ — Short-term advances 15,000 15,000 Long-term advances 25,000 25,000 Total $ 40,000 $ 40,000 March 31, 2024 December 31, 2023 Fixed Rate: Outstanding balance $ 40,000 $ 40,000 Interest rates ranging from 4.06 % 4.06 % Interest rates ranging to 4.35 % 4.35 % Weighted average interest rate 4.25 % 4.25 % Variable rate: Outstanding balance $ — $ — Weighted average interest rate — % — % The following table presents the maturity of our FHLB advances (dollars in thousands): March 31, Remainder of 2024 $ 15,000 2025 — 2026 15,000 2027 — 2028 10,000 Thereafter — $ 40,000 FHLB Des Moines Borrowing Capacity 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. Additionally, the Company had outstanding letters of credit from the FHLB of Des Moines to secure public deposits. The following table presents the borrowing capacity from the FHLB as of the dates indicated: March 31, 2024 December 31, 2023 Amount available to borrow under credit facility (1) $ 447,919 $ 463,541 Advance equivalent of collateral: One-to-four family mortgage loans 195,537 196,547 Commercial and multifamily mortgage loans 34,095 34,464 Home equity loans 293 348 Notional amount of letters of credit outstanding 9,000 10,000 Remaining FHLB borrowing capacity (2) $ 180,925 $ 181,360 (1) Subject to eligible pledged collateral. (2) Amount remaining from the advance equivalent of collateral less letters of credit outstanding and FHLB advances. 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 both March 31, 2024 and December 31, 2023, the Company had an investment of $2.4 million in FHLB of Des Moines stock. Federal Reserve Bank of San Francisco (“FRB SF”) Borrowings The Company has a borrowing agreement with the FRB SF. The terms of the agreement call for a blanket pledge of a portion of the Company’s consumer and commercial business loans based on the outstanding balance. At March 31, 2024 and December 31, 2023, the amount available to borrow under this credit facility was $19.5 million and $18.3 million, respectively, subject to eligible pledged collateral. The Company had no outstanding borrowings under this arrangement at March 31, 2024 and December 31, 2023. Other Borrowings 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, 2024 and is renewable annually. As of March 31, 2024, 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, 2024 and December 31, 2023. Subordinated Debt

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	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 2024 2023 Net income $ 770 $ 2,168 LESS: Participating dividends - Unvested Restricted Stock Awards (“RSAs”) (3) (3) LESS: Income allocated to participating securities - Unvested RSAs (2) (11) Net income available to common stockholders - basic 765 2,154 ADD BACK: Income allocated to participating securities - Unvested RSAs 2 11 LESS: Income reallocated to participating securities - Unvested RSAs (2) (11) Net income available to common stockholders - diluted $ 765 $ 2,154 Weighted average number of shares outstanding, basic 2,539,213 2,578,413 Effect of potentially dilutive common shares 17,745 25,630 Weighted average number of shares outstanding, diluted 2,556,958 2,604,043 Earnings per share, basic $ 0.30 $ 0.84 Earnings per share, diluted $ 0.30 $ 0.83 There were 7,596 anti-dilutive securities at March 31, 2024 and 8,009 anti-dilutive securities at March 31, 2023.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Stock Options and Restricted Stock The Company currently has one active stockholder-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, 2024, on an adjusted basis, awards for stock options totaling 301,453 shares and awards for restricted stock totaling 167,114 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 $95 thousand and $192 thousand for the three months ended March 31, 2024 and March 31, 2023, respectively. Stock Option Awards All stock option awards granted under the 2008 Plan vest in 20 percent 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, 2024 (dollars in thousands, except per share amounts): Shares Weighted- Weighted-Average Aggregate Outstanding at January 1, 2024 80,735 $ 32.28 5.36 $ 603 Granted 6,469 39.89 Exercised (1,235) 21.16 Expired (257) 36.57 Outstanding at March 31, 2024 85,712 33.00 5.53 685 Exercisable 66,231 30.95 4.58 661 Expected to vest, assuming a 0% forfeiture rate over the vesting term 85,712 $ 33.00 5.53 $ 685 As of March 31, 2024, there was $190 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 2.4 years. The total intrinsic value of the shares exercised during the three months ended March 31, 2024 was $22 thousand and for the three months ended March 31, 2023 was $327 thousand. The fair value of each option grant is estimated as of the grant date using the Black-Scholes option-pricing model. The fair values of options granted during the three months ended March 31, 2024 and 2023 were determined using the following weighted-average assumptions as of the grant date. Three Months Ended March 31, 2024 2023 Annual dividend yield 1.69 % 1.69 % Expected volatility 28.15 % 28.15 % Risk-free interest rate 4.06 % 3.60 % Expected term 6.00 years 6.00 years Weighted-average grant date fair value per option granted $ 11.64 $ 11.33 There were 6,469 and 12,425 options granted during the three months ended March 31, 2024 and March 31, 2023, respectively . Restricted Stock Awards The fair value of the restricted stock awards is equal to the fair value of the Company's common stock at the date of grant. Compensation expense is recognized over the vesting periods of the awards. 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 dates 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, 2024: Shares Weighted-Average Aggregate Intrinsic Value Per Share Non-Vested at January 1, 2024 15,967 $ 39.20 Granted 8,048 39.89 Vested (6,872) 38.19 Forfeited — — Non-Vested at March 31, 2024 17,143 39.93 40.17 Expected to vest assuming a 0% forfeiture rate over the vesting term 17,143 $ 39.93 $ 40.17 As of March 31, 2024, there was $632 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 2.4 years. The total fair value of shares vested for the three months ended March 31, 2024 and 2023 was $262 thousand and $370 thousand, respectively. The weighted average grant date fair value per share for the three months ended March 31, 2024 and 2023 was $39.89 and $40.13, respectively. Employee Stock Ownership Plan The fair value of the 169,647 shares held by the Company’s Employee Stock Ownership Plan (the “ESOP”) trust was $6.8 million at March 31, 2024. ESOP compensation expense included in salaries and benefits was $189 thousand for the three months ended March 31, 2024, and $204 thousand for the three months ended March 31, 2023.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases We have operating leases for branch locations, a loan production office, our corporate office and in the past, for certain equipment. The term for our leases begins on the date we become legally obligated for the rent payments or we take possession of the building premises, 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 Sheets at the dates indicated (in thousands): March 31, December 31, Operating lease right-of-use assets $ 4,259 $ 4,496 Operating lease liabilities $ 4,576 $ 4,821 The following table presents the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2024 2023 Operating lease expense Office leases $ 270 $ 268 Sublease income (3) (3) Net lease expense $ 267 $ 265 The following table presents the schedule of lease liabilities at the date indicated (in thousands): March 31, 2024 Remainder of 2024 $ 1,083 2025 933 2026 944 2027 963 2028 843 Thereafter 136 Total lease payments 4,902 Less: Present value discount 326 Present value of lease liabilities $ 4,576 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 4.9 years 5.2 years Weighted-average discount rate (annualized): Office leases 2.78 % 2.77 % Supplemental cash flow information related to leases was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities for operating leases: Operating cash flows Office leases $ 278 $ 271

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 29, 2024, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.19 per common share, payable on May 22, 2024 to stockholders of record at the close of business on May 8, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 770	$ 2,168

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
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, 2023, as filed with the SEC on March 21, 2024 (“2023 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. We have not made any changes in our significant accounting policies from those disclosed in the 2023 Form 10-K.
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 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 modifications to eligible contracts (e.g., loans, debt securities, derivatives, borrowings) 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 related 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. ASU 2020-04 has not had, and is not expected to have, a material impact on the Company’s consolidated financial statements. 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 periods including and subsequent to March 12, 2020 through December 31, 2022. Based upon amendments provided in ASU 2022-06 discussed below, provisions of ASU 2021-01 can now generally be applied through December 31, 2024. ASU 2021-01 has not had, and is not expected to have, a material impact on the Company’s consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU 2022-06 extends the period of time entities can utilize the reference rate reform relief guidance provided by ASU 2020-04 and ASU 2021-01, which are discussed above. ASU 2022-06 was effective upon issuance and defers the sunset date of this prior guidance to December 31, 2024, after which entities will no longer be permitted to apply the relief guidance in Topic 848. ASU 2022-06 has not had, and is not expected to have, a material impact on the Company’s consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures .” The amended guidance requires incremental reportable segment disclosures, primarily about significant segment expenses. The amendments also require entities with a single reportable segment to provide all disclosures required by these amendments, and all existing segment disclosures. The amendments will be applied retrospectively to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of ASU 2023-07 on the footnotes to our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amended guidance enhances income tax disclosures primarily related to the effective tax rate reconciliation and income taxes paid information. This guidance requires disclosure of specific categories in the effective tax rate reconciliation and further information on reconciling items meeting a quantitative threshold. In addition, the amended guidance requires disaggregating income taxes paid (net of refunds received) by federal, state, and foreign taxes. It also requires disaggregating individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The amended guidance is effective for fiscal years beginning after December 15, 2024. The guidance can be applied either prospectively or retrospectively. We do expect the adoption of ASU 2023-09 to have a material impact on the footnotes to our consolidated financial statements.
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, 2024 and December 31, 2023 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 (Level 1). 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 – 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 - 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, 2024 and 2023, 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 premiums/discounts are part of the valuation for exit pricing. Mortgage servicing rights –The fair value of MSRs is determined through a discounted cash flow analysis, which uses interest rates, prepayment speeds, discount rates, and delinquency rate assumptions as inputs. 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 contractual cash flows of each debt instrument discounted 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 collateral dependent loans and OREO is as follows: Collateral dependent loans - The fair value of collateral dependent loans is based on the current appraised value of the collateral less estimated costs to sell. 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 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, 2024 and 2023.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 Municipal bonds $ 6,384 $ 11 $ (953) $ 5,442 Agency mortgage-backed securities 3,061 4 (392) 2,673 Total $ 9,445 $ 15 $ (1,345) $ 8,115 December 31, 2023 Municipal bonds $ 6,394 $ 12 $ (878) $ 5,528 Agency mortgage-backed securities 3,145 7 (393) 2,759 Total $ 9,539 $ 19 $ (1,271) $ 8,287
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, 2024 Municipal bonds $ 704 $ — $ (182) $ 522 Agency mortgage-backed securities 1,453 — (245) 1,208 Total $ 2,157 $ — $ (427) $ 1,730 December 31, 2023 Municipal bonds $ 704 $ — $ (164) $ 540 Agency mortgage-backed securities 1,462 — (215) 1,247 Total $ 2,166 $ — $ (379) $ 1,787
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, 2024, 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 agency mortgage-backed securities, are shown separately. March 31, 2024 Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Due after one year through five years $ 455 $ 453 $ — $ — Due after five years through ten years 1,199 1,210 — — Due after ten years 4,730 3,779 704 522 Agency mortgage-backed securities 3,061 2,673 1,453 1,208 Total $ 9,445 $ 8,115 $ 2,157 $ 1,730
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 for which an allowance for credit losses has not been recorded that have been in a continuous unrealized loss position at the dates indicated (in thousands): March 31, 2024 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities Municipal bonds $ 453 $ (2) $ 3,779 $ (951) $ 4,232 $ (953) Agency mortgage-backed securities 47 (1) 2,228 (391) 2,275 (392) Total available-for-sale securities $ 500 $ (3) $ 6,007 $ (1,342) $ 6,507 $ (1,345) Held-to-maturity securities Municipal bonds $ — $ — $ 522 $ (182) $ 522 $ (182) Agency mortgage-backed securities — — 1,208 (245) 1,208 (245) Total held-to-maturity securities $ — $ — $ 1,730 $ (427) $ 1,730 $ (427) December 31, 2023 Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities Municipal bonds — — 3,862 (878) 3,862 (878) Agency mortgage-backed securities 48 (1) 2,290 (392) 2,338 (393) Total $ 48 $ (1) $ 6,152 $ (1,270) $ 6,200 $ (1,271) Held-to-maturity securities Municipal bonds $ — $ — $ 540 $ (164) $ 540 $ (164) Agency mortgage-backed securities — — 1,247 (215) 1,247 (215) Total held-to-maturity securities $ — $ — $ 1,787 $ (379) $ 1,787 $ (379)

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Composition of the Loan Portfolio, Excluding Loans Held-for-sale	Loans-held-for portfolio at the dates indicated, excluding loans held-for-sale, were as follows (in thousands): March 31, December 31, Real estate loans: One-to-four family $ 279,213 $ 279,448 Home equity 24,380 23,073 Commercial and multifamily 324,483 315,280 Construction and land 111,726 126,758 Total real estate loans 739,802 744,559 Consumer loans: Manufactured homes 37,583 36,193 Floating homes 84,237 75,108 Other consumer 18,847 19,612 Total consumer loans 140,667 130,913 Commercial business loans 19,075 20,688 Total loans held-for-portfolio 899,544 896,160 Premiums for purchased loans (1) 808 829 Deferred fees, net (2,475) (2,511) Total loans held-for-portfolio, gross 897,877 894,478 Allowance for credit losses — loans (8,598) (8,760) Total loans held-for-portfolio, net $ 889,279 $ 885,718 (1) Includes premiums resulting from purchased loans of $458 thousand related to one-to-four family loans, $270 thousand related to commercial and multifamily loans, and $80 thousand related to commercial business loans as of March 31, 2024. Includes premiums resulting from purchased loans of $465 thousand related to one-to-four family loans, $280 thousand related to commercial and multifamily loans, and $84 thousand related to commercial business loans as of December 31, 2023.
Schedule of Activity in Allowance for Loan Losses	The following table presents a summary of activity in the ACL on loans and unfunded commitments for the periods indicated (in thousands): Three Months Ended March 31, 2024 2023 Allowance for Credit Losses - Loans Reserve for Unfunded Loan Commitments Allowance for Credit Losses Allowance for Credit Losses - Loans Reserve for Unfunded Loan Commitments Allowance for Credit Losses Balance at beginning of period $ 8,760 $ 193 $ 8,953 $ 7,599 $ 335 $ 7,934 Adoption of ASU 2016-13 (1) — — — 760 695 1,455 (Release of) provision for credit losses during the period (106) 73 (33) 245 (235) 10 Net (charge-offs)/recoveries during the period (56) — (56) (72) — (72) Balance at end of period $ 8,598 $ 266 $ 8,864 $ 8,532 $ 795 $ 9,327 (1) Represents the impact of adopting ASU 2016-13, Financial Instruments — Credit Losses on January 1, 2023. Since that date, as a result of adopting ASU 2016-13, our methodology to compute our allowance for credit losses has been based on a current expected credit loss methodology, rather than the previously applied incurred loss methodology. The following tables summarize the activity in the allowance for credit losses - loans, excluding accrued interest, for the periods indicated (in thousands): Three Months Ended March 31, 2024 Beginning Charge-offs Recoveries Provision (Release of) Ending One-to-four family $ 2,630 $ — $ — $ 280 $ 2,910 Home equity 185 — — (6) 179 Commercial and multifamily 1,070 — — 36 1,106 Construction and land 1,349 — — (20) 1,329 Manufactured homes (1) 971 (23) — (115) 833 Floating homes 2,022 — — (223) 1,799 Other consumer (2) 426 (39) 6 (60) 333 Commercial business 107 — — 2 109 Total $ 8,760 $ (62) $ 6 $ (106) $ 8,598 (1) During the three months ended March 31, 2024, there was one manufactured home loan that was charged off and then subsequently foreclosed upon. (2) During the three months ended March 31, 2024, the gross charge-offs related entirely to deposit overdrafts that were charged off. Three Months Ended March 31, 2023 Beginning Charge-offs Recoveries Provision Ending One-to-four family $ 1,771 $ — $ — $ (67) $ 2,059 Home equity 132 — — (4) 197 Commercial and multifamily 2,501 — — 44 2,225 Construction and land 1,209 — — 210 2,778 Manufactured homes 462 — — 1 283 Floating homes 456 — — (11) 611 Other consumer (1) 324 (79) 7 70 159 Commercial business 256 — — (5) 216 Unallocated 488 — — 7 4 Total $ 7,599 $ (79) $ 7 $ 245 $ 8,532 (1) During the three months ended March 31, 2023, the gross charge-offs related entirely to deposit overdrafts that were charged off.
Schedule of Internally Assigned Grades by Type of Loan	The following tables present the internally assigned grades as of March 31, 2024 and December 31, 2023, by type of loan and origination year (in thousands): At March 31, 2024 Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving Loans Amortized Cost Basis Converted to Term 2024 2023 2022 2021 2020 Prior Total One-to-four family: Pass $ 9,350 $ 25,154 $ 83,227 $ 109,784 $ 16,015 $ 35,051 $ — $ — $ 278,581 Substandard — — 259 114 — 504 — — 877 Total one-to-four family $ 9,350 $ 25,154 $ 83,486 $ 109,898 $ 16,015 $ 35,555 $ — $ — $ 279,458 Home equity: Pass $ 1,429 $ 3,876 $ 2,511 $ 1,051 $ 299 $ 1,622 $ 12,593 $ 811 $ 24,192 Substandard — — — — — 62 282 69 413 Total home equity $ 1,429 $ 3,876 $ 2,511 $ 1,051 $ 299 $ 1,684 $ 12,875 $ 880 $ 24,605 Commercial and multifamily: Pass $ 776 $ 21,071 $ 87,192 $ 93,119 $ 22,556 $ 86,776 $ — $ — $ 311,490 Special mention — — — — 4,653 1,396 — — 6,049 Substandard — — 1,007 — — 4,848 — — 5,855 Total commercial and multifamily $ 776 $ 21,071 $ 88,199 $ 93,119 $ 27,209 $ 93,020 $ — $ — $ 323,394 Construction and land: Pass $ 1,204 $ 30,957 $ 34,855 $ 40,201 $ 955 $ 2,261 $ — $ — $ 110,433 Substandard — — — — — 714 — — 714 Total construction and land $ 1,204 $ 30,957 $ 34,855 $ 40,201 $ 955 $ 2,975 $ — $ — $ 111,147 Manufactured homes: Pass $ 2,204 $ 13,605 $ 7,876 $ 4,228 $ 2,061 $ 7,263 $ — $ — $ 37,237 Substandard — — 44 — — 185 — — 229 Total manufactured homes $ 2,204 $ 13,605 $ 7,920 $ 4,228 $ 2,061 $ 7,448 $ — $ — $ 37,466 Floating homes: Pass $ 12,557 $ 8,408 $ 17,462 $ 24,928 $ 6,428 $ 10,850 $ — $ — $ 80,633 Total floating homes $ 12,557 $ 8,408 $ 20,636 $ 24,928 $ 6,428 $ 10,850 $ — $ — $ 83,807 Other consumer: Pass $ 1,253 $ 4,181 $ 737 $ 3,794 $ 5,830 $ 2,533 $ 533 $ — $ 18,861 Total other consumer $ 1,253 $ 4,181 $ 737 $ 3,794 $ 5,830 $ 2,533 $ 533 $ — $ 18,861 Commercial business: Pass $ 138 $ 894 $ 1,868 $ 3,438 $ 358 $ 4,779 $ 7,467 $ — $ 18,942 Substandard — — 45 112 — — 40 — 197 Total commercial business $ 138 $ 894 $ 1,913 $ 3,550 $ 358 $ 4,779 $ 7,507 $ — $ 19,139 Total loans Pass $ 28,911 $ 108,146 $ 235,728 $ 280,543 $ 54,502 $ 151,135 $ 20,593 $ 811 $ 880,369 Special mention — — — — 4,653 1,396 — — 6,049 Substandard — — 4,529 226 — 6,313 322 69 11,459 Total loans $ 28,911 $ 108,146 $ 240,257 $ 280,769 $ 59,155 $ 158,844 $ 20,915 $ 880 $ 897,877 At December 31, 2023 Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving Loans Amortized Cost Basis 2023 2022 2021 2020 2019 Prior Total One-to-four family: Pass $ 26,272 $ 84,467 $ 110,488 $ 16,126 $ 13,029 $ 28,139 $ — $ — $ 278,521 Substandard — 259 119 — 260 553 — — 1,191 Total one-to-four family 26,272 84,726 110,607 16,126 13,289 28,692 — — 279,712 Home equity: Pass 3,963 2,783 1,072 302 95 1,608 12,982 2 22,807 Substandard — — — — — 63 445 — 508 Total home equity 3,963 2,783 1,072 302 95 1,671 13,427 2 23,315 Commercial and multifamily: Pass 21,144 75,960 93,932 22,731 29,822 58,388 — — 301,977 Special mention — — — 3,365 — 350 — — 3,715 Substandard — 1,036 — 1,317 5,134 1,121 — — 8,608 Total commercial and multifamily 21,144 76,996 93,932 27,413 34,956 59,859 — — 314,300 Construction and land: Pass 32,057 53,302 36,285 967 601 2,031 — — 125,243 Substandard — — — — 689 44 — — 733 Total construction and land 32,057 53,302 36,285 967 1,290 2,075 — — 125,976 Manufactured homes: Pass 13,696 7,958 4,365 2,160 2,075 5,498 — — 35,752 Substandard 115 46 — 22 86 64 — — 333 Total manufactured homes 13,811 8,004 4,365 2,182 2,161 5,562 — — 36,085 Floating homes: Pass 8,779 21,555 26,196 6,471 1,865 9,867 — — 74,733 Total floating homes 8,779 21,555 26,196 6,471 1,865 9,867 — — 74,733 Other consumer: Pass 4,629 1,845 3,884 5,883 598 2,237 539 — 19,615 Total other consumer 4,629 1,845 3,884 5,883 598 2,237 539 — 19,615 Commercial business: Pass 987 437 3,564 400 227 5,848 6,854 — 18,317 Substandard 2,128 53 204 — — — 40 — 2,425 Total commercial business 3,115 490 3,768 400 227 5,848 6,894 — 20,742 Pass 111,527 248,307 279,786 55,040 48,312 113,616 20,375 2 876,965 Special mention — — — 3,365 — 350 — — 3,715 Substandard 2,243 1,394 323 1,339 6,169 1,845 485 — 13,798 Total loans $ 113,770 $ 249,701 $ 280,109 $ 59,744 $ 54,481 $ 115,811 $ 20,860 $ 2 $ 894,478 The following tables summarize collateral dependent loans by collateral type as of the dates indicated (in thousands): March 31, 2024 Commercial Real Estate Residential Real Estate Land Other Residential RVs/Automobiles Business Assets Total Real estate loans: One- to four- family $ — $ 394 $ — $ 541 $ — $ — $ 935 Home equity — 83 — — — — 83 Commercial and multifamily 4,747 — — — — — 4,747 Construction and land — — 29 — — — 29 Total real estate loans 4,747 477 29 541 — — 5,794 Consumer loans: Manufactured homes — — — 166 — — 166 Floating homes — — — 3,192 — — 3,192 Total consumer loans — — — 3,358 — — 3,358 Total loans $ 4,747 $ 477 $ 29 $ 3,899 $ — $ — $ 9,152 December 31, 2023 Commercial Real Estate Residential Real Estate Land Other Residential RVs/Automobiles Business Assets Total Real estate loans: One- to four- family $ — $ 664 $ — $ 545 $ — $ — $ 1,209 Home equity — 84 — — — — 84 Total real estate loans — 748 — 545 — — 1,293 Consumer loans: Manufactured homes — — — 228 — — 228 Total consumer loans — — — 228 — — 228 Commercial business loans — — — 2,135 — — 2,135 Total loans $ — $ 748 $ — $ 2,908 $ — $ — $ 3,656
Schedule of Investment in Nonaccrual Loans	The following table presents the amortized cost of nonaccrual loans as of the dates indicated, by type of loan (in thousands): March 31, 2024 December 31, 2023 Total Total Total Total One-to-four family $ 835 $ 575 $ 1,108 $ 848 Home equity 83 83 84 84 Commercial and multifamily 4,747 4,747 — — Construction and land 29 29 — — Manufactured homes 166 166 228 228 Floating homes 3,192 3,192 — — Other consumer 1 — 1 — Commercial business — — 2,135 2,135 Total $ 9,053 $ 8,792 $ 3,556 $ 3,295
Schedule of Recorded Investment Aging In Past Due Loans	The following tables present the aging of past due loans, based on amortized cost, as of the dates indicated, by type of loan (in thousands): March 31, 2024 30-59 Days 60-89 Days 90 Days and Greater Past Due 90 Days and Greater Past Due and Accruing Total Past Current Total Loans One-to-four family $ 556 $ — $ 711 $ — $ 1,267 $ 278,191 $ 279,458 Home equity — 268 83 — 351 24,254 24,605 Commercial and multifamily 1,346 — 3,733 — 5,079 318,315 323,394 Construction and land 823 — 30 — 853 110,294 111,147 Manufactured homes 419 — 102 — 521 36,945 37,466 Floating homes 3,174 — — — 3,174 80,633 83,807 Other consumer 22 29 — — 51 18,810 18,861 Commercial business — 55 — — 55 19,084 19,139 Total $ 6,340 $ 352 $ 4,659 $ — $ 11,351 $ 886,526 $ 897,877 December 31, 2023 30-59 Days 60-89 Days 90 Days and Greater Past Due 90 Days and Greater Past Due and Accruing Total Past Current Total Loans One-to-four family $ 168 $ 870 $ 663 $ — $ 1,701 $ 278,011 $ 279,712 Home equity 345 — 84 — 429 22,893 23,322 Commercial and multifamily 4,116 1,036 — — 5,151 309,149 314,300 Construction and land — — — — — 125,940 125,940 Manufactured homes 295 49 189 — 533 35,552 36,085 Floating homes — 3,226 — — 3,226 71,507 74,733 Other consumer 34 31 — — 65 19,550 19,615 Commercial business 66 — 2,128 — 2,194 18,551 20,745 Total $ 5,024 $ 5,211 $ 3,064 $ — $ 13,299 $ 881,153 $ 894,452

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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 recognized or recorded at fair value or not as of the dates indicated (in thousands): March 31, 2024 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 137,977 $ 137,977 $ 137,977 $ — $ — Available-for-sale securities 8,115 8,115 — 8,115 — Held-to-maturity securities 2,157 1,730 — 1,730 — Loans held-for-sale 351 351 — 351 — Loans held-for-portfolio, net 889,279 840,700 — — 840,700 Mortgage servicing rights 4,612 4,612 — — 4,612 FINANCIAL LIABILITIES: Time deposits 321,340 321,737 — 321,737 — Borrowings 40,000 40,000 — 40,000 — Subordinated notes 11,728 12,038 — 12,038 — December 31, 2023 Fair Value Measurements Using: Carrying Estimated Level 1 Level 2 Level 3 FINANCIAL ASSETS: Cash and cash equivalents $ 49,690 $ 49,690 $ 49,690 $ — $ — Available-for-sale securities 8,287 8,287 — 8,287 — Held-to-maturity securities 2,166 1,787 — 1,787 — Loans held-for-sale 603 603 — 603 — Loans held-for-portfolio, net 885,718 837,579 — — 837,579 Mortgage servicing rights 4,632 4,632 — — 4,632 FINANCIAL LIABILITIES: Time deposits 307,962 308,604 — 308,604 — Borrowings 40,000 40,000 — 40,000 — Subordinated notes 11,717 9,996 — 9,996 —
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, 2024 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 5,442 $ — $ 5,442 $ — Agency mortgage-backed securities 2,673 — 2,673 — Mortgage servicing rights 4,612 — — 4,612 Fair Value at December 31, 2023 Description Total Level 1 Level 2 Level 3 Municipal bonds $ 5,528 $ — $ 5,528 $ — Agency mortgage-backed securities 2,759 — 2,759 — Mortgage servicing rights 4,632 — — 4,632
Schedule of Valuation Technique, Unobservable Input, and Qualitative 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, 2024 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 99%-205% (110%) Discount rate 10.51%-14.51% (12.51%) December 31, 2023 Financial Instrument Valuation Technique Unobservable Input(s) Range Mortgage Servicing Rights Discounted cash flow Prepayment speed assumption 109%-208% (129%) Discount rate 10.5%-14.5% (12.5%)
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, 2024 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 690 $ — $ — $ 690 Collateral dependent loans 9,152 — — 9,152 Fair Value at December 31, 2023 Total Level 1 Level 2 Level 3 OREO and repossessed assets $ 575 $ — $ — $ 575 Collateral dependent loans 3,656 — — 3,656

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 Beginning balance, at fair value $ 4,632 $ 4,687 Servicing rights that result from transfers and sale of financial assets 45 40 Changes in fair value: Due to changes in model inputs or assumptions and other (1) (65) (140) Ending balance, at fair value $ 4,612 $ 4,587 (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, 2024 December 31, 2023 Prepayment speed (Public Securities Association “PSA” model) 110 % 129 % Weighted-average life 8.0 years 7.7 years Weighted average discount rate 12.5 % 12.5 %

Borrowings, FHLB Stock and Su_2

Borrowings, FHLB Stock and Subordinated Notes (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Federal Home Loan Bank, Advances	The following tables present advances from the FHLB as of the dates indicated (dollars in thousands): March 31, 2024 December 31, 2023 FHLB advances: Overnight advances $ — $ — Short-term advances 15,000 15,000 Long-term advances 25,000 25,000 Total $ 40,000 $ 40,000 March 31, 2024 December 31, 2023 Fixed Rate: Outstanding balance $ 40,000 $ 40,000 Interest rates ranging from 4.06 % 4.06 % Interest rates ranging to 4.35 % 4.35 % Weighted average interest rate 4.25 % 4.25 % Variable rate: Outstanding balance $ — $ — Weighted average interest rate — % — % The following table presents the maturity of our FHLB advances (dollars in thousands): March 31, Remainder of 2024 $ 15,000 2025 — 2026 15,000 2027 — 2028 10,000 Thereafter — $ 40,000 March 31, 2024 December 31, 2023 Amount available to borrow under credit facility (1) $ 447,919 $ 463,541 Advance equivalent of collateral: One-to-four family mortgage loans 195,537 196,547 Commercial and multifamily mortgage loans 34,095 34,464 Home equity loans 293 348 Notional amount of letters of credit outstanding 9,000 10,000 Remaining FHLB borrowing capacity (2) $ 180,925 $ 181,360 (1) Subject to eligible pledged collateral. (2) Amount remaining from the advance equivalent of collateral less letters of credit outstanding and FHLB advances.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Net income $ 770 $ 2,168 LESS: Participating dividends - Unvested Restricted Stock Awards (“RSAs”) (3) (3) LESS: Income allocated to participating securities - Unvested RSAs (2) (11) Net income available to common stockholders - basic 765 2,154 ADD BACK: Income allocated to participating securities - Unvested RSAs 2 11 LESS: Income reallocated to participating securities - Unvested RSAs (2) (11) Net income available to common stockholders - diluted $ 765 $ 2,154 Weighted average number of shares outstanding, basic 2,539,213 2,578,413 Effect of potentially dilutive common shares 17,745 25,630 Weighted average number of shares outstanding, diluted 2,556,958 2,604,043 Earnings per share, basic $ 0.30 $ 0.84 Earnings per share, diluted $ 0.30 $ 0.83

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 (dollars in thousands, except per share amounts): Shares Weighted- Weighted-Average Aggregate Outstanding at January 1, 2024 80,735 $ 32.28 5.36 $ 603 Granted 6,469 39.89 Exercised (1,235) 21.16 Expired (257) 36.57 Outstanding at March 31, 2024 85,712 33.00 5.53 685 Exercisable 66,231 30.95 4.58 661 Expected to vest, assuming a 0% forfeiture rate over the vesting term 85,712 $ 33.00 5.53 $ 685
Schedule of Weighted-Average Assumptions Used in Determining Fair Value of Options Granted	The fair values of options granted during the three months ended March 31, 2024 and 2023 were determined using the following weighted-average assumptions as of the grant date. Three Months Ended March 31, 2024 2023 Annual dividend yield 1.69 % 1.69 % Expected volatility 28.15 % 28.15 % Risk-free interest rate 4.06 % 3.60 % Expected term 6.00 years 6.00 years Weighted-average grant date fair value per option granted $ 11.64 $ 11.33
Schedule of Non-Vested 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, 2024: Shares Weighted-Average Aggregate Intrinsic Value Per Share Non-Vested at January 1, 2024 15,967 $ 39.20 Granted 8,048 39.89 Vested (6,872) 38.19 Forfeited — — Non-Vested at March 31, 2024 17,143 39.93 40.17 Expected to vest assuming a 0% forfeiture rate over the vesting term 17,143 $ 39.93 $ 40.17

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
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 Sheets at the dates indicated (in thousands): March 31, December 31, Operating lease right-of-use assets $ 4,259 $ 4,496 Operating lease liabilities $ 4,576 $ 4,821
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, 2024 2023 Operating lease expense Office leases $ 270 $ 268 Sublease income (3) (3) Net lease expense $ 267 $ 265 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 4.9 years 5.2 years Weighted-average discount rate (annualized): Office leases 2.78 % 2.77 % Supplemental cash flow information related to leases was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities for operating leases: Operating cash flows Office leases $ 278 $ 271
Schedule of Lease Liability Maturities	The following table presents the schedule of lease liabilities at the date indicated (in thousands): March 31, 2024 Remainder of 2024 $ 1,083 2025 933 2026 944 2027 963 2028 843 Thereafter 136 Total lease payments 4,902 Less: Present value discount 326 Present value of lease liabilities $ 4,576

Investments - Schedule of Amort

Investments - Schedule of Amortized Cost and Fair Value of AFS Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 9,445	$ 9,539
Gross Unrealized Gains	15	19
Gross Unrealized Losses	(1,345)	(1,271)
Estimated Fair Value	8,115	8,287
Municipal bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	6,384	6,394
Gross Unrealized Gains	11	12
Gross Unrealized Losses	(953)	(878)
Estimated Fair Value	5,442	5,528
Agency mortgage-backed securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,061	3,145
Gross Unrealized Gains	4	7
Gross Unrealized Losses	(392)	(393)
Estimated Fair Value	$ 2,673	$ 2,759

Investments - Schedule of Amo_2

Investments - Schedule of Amortized Cost and Fair Value of HTM Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,157	$ 2,166
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(427)	(379)
Estimated Fair Value	1,730	1,787
Municipal bonds
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	704	704
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(182)	(164)
Estimated Fair Value	522	540
Agency mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,453	1,462
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(245)	(215)
Estimated Fair Value	$ 1,208	$ 1,247

Investments - Schedule of Amo_3

Investments - Schedule of Amortized Cost and Fair Value of Mortgage-backed Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Amortized Cost
Due after one year through five years	$ 455
Due after five years through ten years	1,199
Due after ten years	4,730
Agency mortgage-backed securities	3,061
Amortized Cost	9,445	$ 9,539
Fair Value
Due after one year through five years	453
Due after five years through ten years	1,210
Due after ten years	3,779
Agency mortgage-backed securities	2,673
Estimated Fair Value	8,115	8,287
Amortized Cost
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	704
Agency mortgage-backed securities	1,453
Total	2,157	2,166
Fair Value
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	522
Agency mortgage-backed securities	1,208
Total	$ 1,730	$ 1,787

Investments - Narrative (Detail

Investments - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) security	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) security
Debt Securities, Available-for-Sale [Line Items]
Pledged securities	$ 0		$ 0
Sale of AFS securities	0	$ 0
Accrued interest receivable on securities	77,000		49,000
Debt securities, available-for-sale, allowance for credit loss	0		0
Investments	$ 9,800,000		$ 10,100,000
Number of securities in unrealized loss position for less than 12 months | security	3		1
Number of securities in unrealized loss position for more than 12 months | security	16		16
Agency mortgage-backed securities
Debt Securities, Available-for-Sale [Line Items]
Number of portfolio securities | security	12		12
Municipal bonds
Debt Securities, Available-for-Sale [Line Items]
Number of portfolio securities | security	11		11

Investments - Schedule of Aggre

Investments - Schedule of Aggregate Fair Value and Gross Unrealized Loss by Length of Time (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value
Less Than 12 Months	$ 500	$ 48
12 Months or Longer	6,007	6,152
Total	6,507	6,200
Unrealized Loss
Less Than 12 Months	(3)	(1)
12 Months or Longer	(1,342)	(1,270)
Total	(1,345)	(1,271)
Fair Value
Less Than 12 Months	0	0
12 Months or Longer	1,730	1,787
Total	1,730	1,787
Unrealized Loss
Less Than 12 Months	0	0
12 Months or Longer	(427)	(379)
Total	(427)	(379)
Municipal bonds
Fair Value
Less Than 12 Months	453	0
12 Months or Longer	3,779	3,862
Total	4,232	3,862
Unrealized Loss
Less Than 12 Months	(2)	0
12 Months or Longer	(951)	(878)
Total	(953)	(878)
Fair Value
Less Than 12 Months	0	0
12 Months or Longer	522	540
Total	522	540
Unrealized Loss
Less Than 12 Months	0	0
12 Months or Longer	(182)	(164)
Total	(182)	(164)
Agency mortgage-backed securities
Fair Value
Less Than 12 Months	47	48
12 Months or Longer	2,228	2,290
Total	2,275	2,338
Unrealized Loss
Less Than 12 Months	(1)	(1)
12 Months or Longer	(391)	(392)
Total	(392)	(393)
Fair Value
Less Than 12 Months	0	0
12 Months or Longer	1,208	1,247
Total	1,208	1,247
Unrealized Loss
Less Than 12 Months	0	0
12 Months or Longer	(245)	(215)
Total	$ (245)	$ (215)

Loans - Schedule of Composition

Loans - Schedule of Composition of the Loan Portfolio, Excluding Loans Held-for-sale (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	$ 899,544	$ 896,160
Premiums for purchased loans	808	829
Deferred fees, net	(2,475)	(2,511)
Total	897,877	894,478
Allowance for credit losses (“ACL”) on loans	(8,598)	(8,760)	$ (8,532)	$ (7,599)
Total loans held-for-portfolio, net	889,279	885,718
Real estate loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	739,802	744,559
Real estate loans: | One-to-four family:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	279,213	279,448
Premiums for purchased loans	458	465
Total	279,458	279,712
Allowance for credit losses (“ACL”) on loans	(2,910)	(2,630)	(2,059)	(1,771)
Real estate loans: | Home equity:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	24,380	23,073
Total	24,605	23,315
Allowance for credit losses (“ACL”) on loans	(179)	(185)	(197)	(132)
Real estate loans: | Commercial and multifamily:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	324,483	315,280
Premiums for purchased loans	270	280
Total	323,394	314,300
Allowance for credit losses (“ACL”) on loans	(1,106)	(1,070)	(2,225)	(2,501)
Real estate loans: | Construction and land:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	111,726	126,758
Total	111,147	125,976
Allowance for credit losses (“ACL”) on loans	(1,329)	(1,349)	(2,778)	(1,209)
Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	140,667	130,913
Consumer loans: | Manufactured homes:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	37,583	36,193
Total	37,466	36,085
Allowance for credit losses (“ACL”) on loans	(833)	(971)	(283)	(462)
Consumer loans: | Floating homes:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	84,237	75,108
Total	83,807	74,733
Allowance for credit losses (“ACL”) on loans	(1,799)	(2,022)	(611)	(456)
Consumer loans: | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	18,847	19,612
Total	18,861	19,615
Allowance for credit losses (“ACL”) on loans	(333)	(426)	(159)	(324)
Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-portfolio	19,075	20,688
Premiums for purchased loans	80	84
Total	19,139	20,742
Allowance for credit losses (“ACL”) on loans	$ (109)	$ (107)	$ (216)	$ (256)

Loans - Narrative (Details)

Loans - Narrative (Details)	Mar. 31, 2024 USD ($) loan	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable on loans receivable	$ 3,400,000	$ 3,400,000
Commitments to extend additional credit to borrowers whose loan terms have been modified in TDRs	0
Loans classified as TDRs	$ 1,700,000	$ 1,700,000
Real estate loans: | One-to-four family:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans in process of foreclosure | loan	3
Mortgage loans in process of foreclosure, amount	$ 457,000

Loans - Schedule of Activity in

Loans - Schedule of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance for Credit Losses - Loans
Beginning Allowance	$ 8,760	$ 7,599
(Release of) provision for credit losses during the period	(106)	245
Net (charge-offs)/recoveries during the period	(56)	(72)
Ending Allowance	8,598	8,532
Reserve for Unfunded Loan Commitments
Beginning balance	193	335
(Release of) provision for credit losses during the period	73	(235)
Net (charge-offs)/recoveries during the period	0	0
Ending balance	266	795
Allowance for Credit Losses, beginning balance	8,953	7,934
Allowance for Credit Losses, (Release of) provision for credit losses during the period	(33)	10
Allowance for Credit Losses, Net (charge-offs)/recoveries during the period	(56)	(72)
Allowance for Credit Losses, ending balance	$ 8,864	9,327
Adoption of ASU 2016-13
Allowance for Credit Losses - Loans
Beginning Allowance		760
Reserve for Unfunded Loan Commitments
Beginning balance		695
Allowance for Credit Losses, beginning balance		$ 1,455

Loans - Schedule of Activity _2

Loans - Schedule of Activity in Allowance for Loan Losses, Excluding Accrued Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	$ 8,760	$ 7,599
Charge-offs	(62)	(79)
Recoveries	6	7
Provision (Release of)/(Recapture)	(106)	245
Ending Allowance	8,598	8,532
Real estate loans: | One-to-four family:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	2,630	1,771
Charge-offs	0	0
Recoveries	0	0
Provision (Release of)/(Recapture)	280	(67)
Ending Allowance	2,910	2,059
Real estate loans: | Home equity:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	185	132
Charge-offs	0	0
Recoveries	0	0
Provision (Release of)/(Recapture)	(6)	(4)
Ending Allowance	179	197
Real estate loans: | Commercial and multifamily:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	1,070	2,501
Charge-offs	0	0
Recoveries	0	0
Provision (Release of)/(Recapture)	36	44
Ending Allowance	1,106	2,225
Real estate loans: | Construction and land:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	1,349	1,209
Charge-offs	0	0
Recoveries	0	0
Provision (Release of)/(Recapture)	(20)	210
Ending Allowance	1,329	2,778
Consumer loans: | Manufactured homes:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	971	462
Charge-offs	(23)	0
Recoveries	0	0
Provision (Release of)/(Recapture)	(115)	1
Ending Allowance	833	283
Consumer loans: | Floating homes:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	2,022	456
Charge-offs	0	0
Recoveries	0	0
Provision (Release of)/(Recapture)	(223)	(11)
Ending Allowance	1,799	611
Consumer loans: | Other consumer
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	426	324
Charge-offs	(39)	(79)
Recoveries	6	7
Provision (Release of)/(Recapture)	(60)	70
Ending Allowance	333	159
Commercial business
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance	107	256
Charge-offs	0	0
Recoveries	0	0
Provision (Release of)/(Recapture)	2	(5)
Ending Allowance	$ 109	216
Unallocated Financing Receivables [Member]
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning Allowance		488
Charge-offs		0
Recoveries		0
Provision (Release of)/(Recapture)		7
Ending Allowance		$ 4

Loans - Term Loans Amortized Co

Loans - Term Loans Amortized Cost Basis by Origination Year (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	$ 28,911	$ 113,770
Prior year	108,146	249,701
Two years prior	240,257	280,109
Three years prior	280,769	59,744
Four years prior	59,155	54,481
Prior	158,844	115,811
Revolving Loans Amortized Cost Basis	20,915	20,860
Revolving Loans Amortized Cost Basis Converted to Term	880	2
Total	897,877	894,478
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	28,911	111,527
Prior year	108,146	248,307
Two years prior	235,728	279,786
Three years prior	280,543	55,040
Four years prior	54,502	48,312
Prior	151,135	113,616
Revolving Loans Amortized Cost Basis	20,593	20,375
Revolving Loans Amortized Cost Basis Converted to Term	811	2
Total	880,369	876,965
Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	0
Two years prior	0	0
Three years prior	0	3,365
Four years prior	4,653	0
Prior	1,396	350
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	6,049	3,715
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	2,243
Prior year	0	1,394
Two years prior	4,529	323
Three years prior	226	1,339
Four years prior	0	6,169
Prior	6,313	1,845
Revolving Loans Amortized Cost Basis	322	485
Revolving Loans Amortized Cost Basis Converted to Term	69	0
Total	11,459	13,798
Real estate loans: | One-to-four family:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	9,350	26,272
Prior year	25,154	84,726
Two years prior	83,486	110,607
Three years prior	109,898	16,126
Four years prior	16,015	13,289
Prior	35,555	28,692
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	279,458	279,712
Real estate loans: | One-to-four family: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	9,350	26,272
Prior year	25,154	84,467
Two years prior	83,227	110,488
Three years prior	109,784	16,126
Four years prior	16,015	13,029
Prior	35,051	28,139
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	278,581	278,521
Real estate loans: | One-to-four family: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	259
Two years prior	259	119
Three years prior	114	0
Four years prior	0	260
Prior	504	553
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	877	1,191
Real estate loans: | Home equity:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,429	3,963
Prior year	3,876	2,783
Two years prior	2,511	1,072
Three years prior	1,051	302
Four years prior	299	95
Prior	1,684	1,671
Revolving Loans Amortized Cost Basis	12,875	13,427
Revolving Loans Amortized Cost Basis Converted to Term	880	2
Total	24,605	23,315
Real estate loans: | Home equity: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,429	3,963
Prior year	3,876	2,783
Two years prior	2,511	1,072
Three years prior	1,051	302
Four years prior	299	95
Prior	1,622	1,608
Revolving Loans Amortized Cost Basis	12,593	12,982
Revolving Loans Amortized Cost Basis Converted to Term	811	2
Total	24,192	22,807
Real estate loans: | Home equity: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	0
Two years prior	0	0
Three years prior	0	0
Four years prior	0	0
Prior	62	63
Revolving Loans Amortized Cost Basis	282	445
Revolving Loans Amortized Cost Basis Converted to Term	69	0
Total	413	508
Real estate loans: | Commercial and multifamily:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	776	21,144
Prior year	21,071	76,996
Two years prior	88,199	93,932
Three years prior	93,119	27,413
Four years prior	27,209	34,956
Prior	93,020	59,859
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	323,394	314,300
Real estate loans: | Commercial and multifamily: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	776	21,144
Prior year	21,071	75,960
Two years prior	87,192	93,932
Three years prior	93,119	22,731
Four years prior	22,556	29,822
Prior	86,776	58,388
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	311,490	301,977
Real estate loans: | Commercial and multifamily: | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	0
Two years prior	0	0
Three years prior	0	3,365
Four years prior	4,653	0
Prior	1,396	350
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	6,049	3,715
Real estate loans: | Commercial and multifamily: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	1,036
Two years prior	1,007	0
Three years prior	0	1,317
Four years prior	0	5,134
Prior	4,848	1,121
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	5,855	8,608
Real estate loans: | Construction and land:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,204	32,057
Prior year	30,957	53,302
Two years prior	34,855	36,285
Three years prior	40,201	967
Four years prior	955	1,290
Prior	2,975	2,075
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	111,147	125,976
Real estate loans: | Construction and land: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,204	32,057
Prior year	30,957	53,302
Two years prior	34,855	36,285
Three years prior	40,201	967
Four years prior	955	601
Prior	2,261	2,031
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	110,433	125,243
Real estate loans: | Construction and land: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	0
Two years prior	0	0
Three years prior	0	0
Four years prior	0	689
Prior	714	44
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	714	733
Consumer loans: | Manufactured homes:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	2,204	13,811
Prior year	13,605	8,004
Two years prior	7,920	4,365
Three years prior	4,228	2,182
Four years prior	2,061	2,161
Prior	7,448	5,562
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	37,466	36,085
Consumer loans: | Manufactured homes: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	2,204	13,696
Prior year	13,605	7,958
Two years prior	7,876	4,365
Three years prior	4,228	2,160
Four years prior	2,061	2,075
Prior	7,263	5,498
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	37,237	35,752
Consumer loans: | Manufactured homes: | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	115
Prior year	0	46
Two years prior	44	0
Three years prior	0	22
Four years prior	0	86
Prior	185	64
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	229	333
Consumer loans: | Floating homes:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	12,557	8,779
Prior year	8,408	21,555
Two years prior	20,636	26,196
Three years prior	24,928	6,471
Four years prior	6,428	1,865
Prior	10,850	9,867
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	83,807	74,733
Consumer loans: | Floating homes: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	12,557	8,779
Prior year	8,408	21,555
Two years prior	17,462	26,196
Three years prior	24,928	6,471
Four years prior	6,428	1,865
Prior	10,850	9,867
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	80,633	74,733
Consumer loans: | Other consumer:
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,253	4,629
Prior year	4,181	1,845
Two years prior	737	3,884
Three years prior	3,794	5,883
Four years prior	5,830	598
Prior	2,533	2,237
Revolving Loans Amortized Cost Basis	533	539
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	18,861	19,615
Consumer loans: | Other consumer: | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,253	4,629
Prior year	4,181	1,845
Two years prior	737	3,884
Three years prior	3,794	5,883
Four years prior	5,830	598
Prior	2,533	2,237
Revolving Loans Amortized Cost Basis	533	539
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	18,861	19,615
Commercial business
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	138	3,115
Prior year	894	490
Two years prior	1,913	3,768
Three years prior	3,550	400
Four years prior	358	227
Prior	4,779	5,848
Revolving Loans Amortized Cost Basis	7,507	6,894
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	19,139	20,742
Commercial business | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	138	987
Prior year	894	437
Two years prior	1,868	3,564
Three years prior	3,438	400
Four years prior	358	227
Prior	4,779	5,848
Revolving Loans Amortized Cost Basis	7,467	6,854
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	18,942	18,317
Commercial business | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	2,128
Prior year	0	53
Two years prior	45	204
Three years prior	112	0
Four years prior	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	40	40
Revolving Loans Amortized Cost Basis Converted to Term	0	0
Total	$ 197	$ 2,425

Loans - Schedule of Credit Qual

Loans - Schedule of Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	$ 899,544	$ 896,160
Real estate loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	739,802	744,559
Real estate loans: | One-to-four family:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	279,213	279,448
Real estate loans: | Home equity:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	24,380	23,073
Real estate loans: | Commercial and multifamily:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	324,483	315,280
Real estate loans: | Construction and land:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	111,726	126,758
Consumer loans:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	140,667	130,913
Consumer loans: | Manufactured homes:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	37,583	36,193
Consumer loans: | Floating homes:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	84,237	75,108
Consumer loans: | Other consumer:
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	18,847	19,612
Commercial business
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held-for-portfolio	$ 19,075	$ 20,688

Loans - Schedule of Investment

Loans - Schedule of Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	$ 9,053	$ 3,556
Total Nonaccrual Loans with no ACL	8,792	3,295
Real estate loans: | One-to-four family:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	835	1,108
Total Nonaccrual Loans with no ACL	575	848
Real estate loans: | Home equity:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	83	84
Total Nonaccrual Loans with no ACL	83	84
Real estate loans: | Commercial and multifamily:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	4,747	0
Total Nonaccrual Loans with no ACL	4,747	0
Real estate loans: | Construction and land:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	29	0
Total Nonaccrual Loans with no ACL	29	0
Consumer loans: | Manufactured homes:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	166	228
Total Nonaccrual Loans with no ACL	166	228
Consumer loans: | Floating homes:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	3,192	0
Total Nonaccrual Loans with no ACL	3,192	0
Consumer loans: | Other consumer:
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	1	1
Total Nonaccrual Loans with no ACL	0	0
Commercial business loans
Financing Receivable, Past Due [Line Items]
Total Nonaccrual Loans	0	2,135
Total Nonaccrual Loans with no ACL	$ 0	$ 2,135

Loans - Schedule of Recorded In

Loans - Schedule of Recorded Investment Aging In Past Due Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	$ 897,877	$ 894,478
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	897,877	894,452
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	6,340	5,024
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	352	5,211
90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	4,659	3,064
Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	11,351	13,299
Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	886,526	881,153
Real estate loans: | One-to-four family:
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	279,458	279,712
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	279,458	279,712
Real estate loans: | One-to-four family: | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	556	168
Real estate loans: | One-to-four family: | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	870
Real estate loans: | One-to-four family: | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	711	663
Real estate loans: | One-to-four family: | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	1,267	1,701
Real estate loans: | One-to-four family: | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	278,191	278,011
Real estate loans: | Home equity:
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	24,605	23,315
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	24,605	23,322
Real estate loans: | Home equity: | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	345
Real estate loans: | Home equity: | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	268	0
Real estate loans: | Home equity: | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	83	84
Real estate loans: | Home equity: | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	351	429
Real estate loans: | Home equity: | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	24,254	22,893
Real estate loans: | Commercial and multifamily:
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	323,394	314,300
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	323,394	314,300
Real estate loans: | Commercial and multifamily: | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	1,346	4,116
Real estate loans: | Commercial and multifamily: | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	1,036
Real estate loans: | Commercial and multifamily: | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	3,733	0
Real estate loans: | Commercial and multifamily: | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	5,079	5,151
Real estate loans: | Commercial and multifamily: | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	318,315	309,149
Real estate loans: | Construction and land:
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	111,147	125,976
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	111,147	125,940
Real estate loans: | Construction and land: | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	823	0
Real estate loans: | Construction and land: | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	0
Real estate loans: | Construction and land: | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	30	0
Real estate loans: | Construction and land: | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	853	0
Real estate loans: | Construction and land: | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	110,294	125,940
Consumer loans: | Manufactured homes:
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	37,466	36,085
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	37,466	36,085
Consumer loans: | Manufactured homes: | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	419	295
Consumer loans: | Manufactured homes: | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	49
Consumer loans: | Manufactured homes: | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	102	189
Consumer loans: | Manufactured homes: | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	521	533
Consumer loans: | Manufactured homes: | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	36,945	35,552
Consumer loans: | Floating homes:
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	83,807	74,733
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	83,807	74,733
Consumer loans: | Floating homes: | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	3,174	0
Consumer loans: | Floating homes: | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	3,226
Consumer loans: | Floating homes: | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	0
Consumer loans: | Floating homes: | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	3,174	3,226
Consumer loans: | Floating homes: | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	80,633	71,507
Consumer loans: | Other consumer
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	18,861	19,615
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	18,861	19,615
Consumer loans: | Other consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	22	34
Consumer loans: | Other consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	29	31
Consumer loans: | Other consumer | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	0
Consumer loans: | Other consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	51	65
Consumer loans: | Other consumer | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	18,810	19,550
Commercial business
Financing Receivable, Past Due [Line Items]
Loans held-for-portfolio	19,139	20,742
90 Days and Greater Past Due and Accruing	0	0
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	19,139	20,745
Commercial business | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	66
Commercial business | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	55	0
Commercial business | 90 Days and Greater Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	0	2,128
Commercial business | Total Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	55	2,194
Commercial business | Current
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Fee, and Loan in Process	$ 19,084	$ 18,551

Loans - Schedule of Collateral

Loans - Schedule of Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	$ 9,152	$ 3,656
Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	5,794	1,293
Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	935	1,209
Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	83	84
Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	4,747
Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	29
Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	3,358	228
Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	166	228
Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	3,192
Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		2,135
Commercial Real Estate
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	4,747	0
Commercial Real Estate | Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	4,747	0
Commercial Real Estate | Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Commercial Real Estate | Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Commercial Real Estate | Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	4,747
Commercial Real Estate | Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Commercial Real Estate | Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Commercial Real Estate | Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Commercial Real Estate | Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Commercial Real Estate | Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		0
Residential Real Estate
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	477	748
Residential Real Estate | Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	477	748
Residential Real Estate | Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	394	664
Residential Real Estate | Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	83	84
Residential Real Estate | Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Residential Real Estate | Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Residential Real Estate | Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Residential Real Estate | Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Residential Real Estate | Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Residential Real Estate | Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		0
Land
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	29	0
Land | Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	29	0
Land | Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Land | Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Land | Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Land | Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	29
Land | Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Land | Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Land | Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Land | Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		0
Other Residential
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	3,899	2,908
Other Residential | Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	541	545
Other Residential | Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	541	545
Other Residential | Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Other Residential | Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Other Residential | Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Other Residential | Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	3,358	228
Other Residential | Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	166	228
Other Residential | Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	3,192
Other Residential | Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		2,135
RVs And Automobiles
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
RVs And Automobiles | Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
RVs And Automobiles | Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
RVs And Automobiles | Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
RVs And Automobiles | Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
RVs And Automobiles | Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
RVs And Automobiles | Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
RVs And Automobiles | Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
RVs And Automobiles | Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
RVs And Automobiles | Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		0
Business Assets
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Business Assets | Real estate loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Business Assets | Real estate loans: | One-to-four family:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Business Assets | Real estate loans: | Home equity:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Business Assets | Real estate loans: | Commercial and multifamily:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Business Assets | Real estate loans: | Construction and land:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0
Business Assets | Consumer loans:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Business Assets | Consumer loans: | Manufactured homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	0	0
Business Assets | Consumer loans: | Floating homes:
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans	$ 0
Business Assets | Commercial business loans
Financing Receivable, Allowance For Credit Losses [Line Items]
Total loans		$ 0

Fair Value Measurements -Schedu

Fair Value Measurements -Schedule of Fair Value Hierarchy for Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
FINANCIAL ASSETS:
Available-for-sale securities	$ 8,115	$ 8,287
Held-to-maturity securities	1,730	1,787
Mortgage servicing rights	4,612	4,632	$ 4,587	$ 4,687
Level 1
FINANCIAL ASSETS:
Cash and cash equivalents	137,977	49,690
Available-for-sale securities	0	0
Held-to-maturity securities	0	0
Loans held-for-sale	0	0
Loans held-for-portfolio, net	0	0
Mortgage servicing rights	0	0
FINANCIAL LIABILITIES:
Time deposits	0	0
Borrowings	0	0
Subordinated notes	0	0
Level 2
FINANCIAL ASSETS:
Cash and cash equivalents	0	0
Available-for-sale securities	8,115	8,287
Held-to-maturity securities	1,730	1,787
Loans held-for-sale	351	603
Loans held-for-portfolio, net	0	0
Mortgage servicing rights	0	0
FINANCIAL LIABILITIES:
Time deposits	321,737	308,604
Borrowings	40,000	40,000
Subordinated notes	12,038	9,996
Level 3
FINANCIAL ASSETS:
Cash and cash equivalents	0	0
Available-for-sale securities	0	0
Held-to-maturity securities	0	0
Loans held-for-sale	0	0
Loans held-for-portfolio, net	840,700	837,579
Mortgage servicing rights	4,612	4,632
FINANCIAL LIABILITIES:
Time deposits	0	0
Borrowings	0	0
Subordinated notes	0	0
Carrying Value
FINANCIAL ASSETS:
Cash and cash equivalents	137,977	49,690
Available-for-sale securities	8,115	8,287
Held-to-maturity securities	2,157	2,166
Loans held-for-sale	351	603
Loans held-for-portfolio, net	889,279	885,718
Mortgage servicing rights	4,612	4,632
FINANCIAL LIABILITIES:
Time deposits	321,340	307,962
Borrowings	40,000	40,000
Subordinated notes	11,728	11,717
Estimated Fair Value
FINANCIAL ASSETS:
Cash and cash equivalents	137,977	49,690
Available-for-sale securities	8,115	8,287
Held-to-maturity securities	1,730	1,787
Loans held-for-sale	351	603
Loans held-for-portfolio, net	840,700	837,579
Mortgage servicing rights	4,612	4,632
FINANCIAL LIABILITIES:
Time deposits	321,737	308,604
Borrowings	40,000	40,000
Subordinated notes	$ 12,038	$ 9,996

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, 2024	Dec. 31, 2023
Recurring
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
Municipal bonds	$ 5,442	$ 5,528
Agency mortgage-backed securities	2,673	2,759
Mortgage servicing rights	4,612	4,632
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	5,442	5,528
Agency mortgage-backed securities	2,673	2,759
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	4,612	4,632
Nonrecurring
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	690	575
Collateral dependent loans	9,152	3,656
Nonrecurring | Level 1
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	0	0
Collateral dependent 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
Collateral dependent loans	0	0
Nonrecurring | Level 3
Balance of Assets Measured at Fair Value on Recurring or Nonrecurring Basis [Abstract]
OREO and repossessed assets	690	575
Collateral dependent loans	$ 9,152	$ 3,656

Fair Value Measurements -Sche_3

Fair Value Measurements -Schedule of Valuation Technique, Unobservable Input, and Qualitative Information (Details) - Recurring - Level 3 - Mortgage Servicing Rights - Discounted cash flow	Mar. 31, 2024	Dec. 31, 2023
Minimum | Prepayment speed assumption
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.99	1.09
Minimum | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.1051	0.105
Maximum | Prepayment speed assumption
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	2.05	2.08
Maximum | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.1451	0.145
Weighted Average | Prepayment speed assumption
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	1.10	1.29
Weighted Average | Discount rate
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Mortgage Servicing Rights	0.1251	0.125

Mortgage Servicing Rights - Nar

Mortgage Servicing Rights - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Servicing Assets at Fair Value [Line Items]
Mortgage servicing rights portfolio	$ 443,600		$ 448,900
Contractually specified servicing, late and ancillary fees earned on the mortgage servicing rights	282	$ 299
Federal National Mortgage Association
Servicing Assets at Fair Value [Line Items]
Loans serviced for others	441,500		446,800
Other financial institutions
Servicing Assets at Fair Value [Line Items]
Loans serviced for others	$ 2,100		$ 2,200

Mortgage Servicing Rights - Sch

Mortgage Servicing Rights - Schedule of Change in Balance of Mortgage Servicing Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance, at fair value	$ 4,632	$ 4,687
Servicing rights that result from transfers and sale of financial assets	45	40
Changes in fair value:
Due to changes in model inputs or assumptions and other	(65)	(140)
Ending balance, at fair value	$ 4,612	$ 4,587

Mortgage Servicing Rights - Mor

Mortgage Servicing Rights - Mortgage Service Rights Assumptions (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Transfers and Servicing [Abstract]
Prepayment speed (Public Securities Association “PSA” model)	110%	129%
Weighted-average life	8 years	7 years 8 months 12 days
Weighted average discount rate	12.50%	12.50%

Borrowings, FHLB Stock and Su_3

Borrowings, FHLB Stock and Subordinated Notes - Schedule of FHLB Advances (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Short-term advances	$ 0
Borrowings	40,000	$ 40,000
FHLB of Des Moines
Short-term Debt [Line Items]
Overnight advances	0	0
Short-term advances	15,000	15,000
Long-term advances	25,000	25,000
Borrowings	40,000	40,000
FHLB of Des Moines | Fixed Rate:
Short-term Debt [Line Items]
Borrowings	$ 40,000	$ 40,000
Weighted average interest rate	4.25%	4.25%
FHLB of Des Moines | Fixed Rate: | Interest rates ranging from
Short-term Debt [Line Items]
Interest rates	4.06%	4.06%
FHLB of Des Moines | Fixed Rate: | Interest rates ranging to
Short-term Debt [Line Items]
Interest rates	4.35%	4.35%
FHLB of Des Moines | Variable rate:
Short-term Debt [Line Items]
Borrowings	$ 0	$ 0
Weighted average interest rate	0%	0%

Borrowings, FHLB Stock and Su_4

Borrowings, FHLB Stock and Subordinated Notes - Schedule of FHLB Advances Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Remainder of 2024	$ 15,000
2025	0
2026	15,000
2027	0
2028	10,000
Thereafter	0
Borrowings	$ 40,000	$ 40,000

Borrowings, FHLB Stock and Su_5

Borrowings, FHLB Stock and Subordinated Notes - Schedule of Borrowing Capacity from the FHLB (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Advance equivalent of collateral:	$ 899,544	$ 896,160
FHLB of Des Moines
Line of Credit Facility [Line Items]
Amount available to borrow under credit facility	447,919	463,541
Remaining FHLB borrowing capacity	180,925	181,360
FHLB of Des Moines | Notional amount of letters of credit outstanding
Line of Credit Facility [Line Items]
Notional amount of letters of credit outstanding	9,000	10,000
FHLB of Des Moines | One-to-four family: | Asset Pledged as Collateral
Line of Credit Facility [Line Items]
Advance equivalent of collateral:	195,537	196,547
FHLB of Des Moines | Commercial and multifamily mortgage loans | Asset Pledged as Collateral
Line of Credit Facility [Line Items]
Advance equivalent of collateral:	34,095	34,464
FHLB of Des Moines | Home equity: | Asset Pledged as Collateral
Line of Credit Facility [Line Items]
Advance equivalent of collateral:	$ 293	$ 348

Borrowings, FHLB Stock and Su_6

Borrowings, FHLB Stock and Subordinated Notes - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	Sep. 30, 2020	Mar. 31, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Investment in FHLB stock		$ 2,406,000	$ 2,396,000
Subordinated notes, net		11,728,000	11,717,000
Subordinated Debt
Short-term Debt [Line Items]
Aggregate principal amount	$ 12,000,000
Subordinated notes, net		11,700,000	11,700,000
Subordinated Debt | Period before October 1, 2025
Short-term Debt [Line Items]
Interest rate	5.25%
Subordinated Debt | Period after October 1, 2025 | SOFR
Short-term Debt [Line Items]
Basis spread on variable rate	5.13%
Federal Reserve Bank of San Francisco
Short-term Debt [Line Items]
Outstanding borrowings		0	0
Line of Credit | Pacific Coast Banker's Bank
Short-term Debt [Line Items]
Amount available to borrow under loan agreement		$ 20,000,000
Term period		1 year
Outstanding borrowings		$ 0	0
Asset Pledged as Collateral | Federal Reserve Bank of San Francisco
Short-term Debt [Line Items]
Amount available to borrow under loan agreement		$ 19,500,000	$ 18,300,000

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 770	$ 2,168
LESS: Participating dividends - Unvested Restricted Stock Awards (“RSAs”)	(3)	(3)
LESS: Income allocated to participating securities - Unvested RSAs	(2)	(11)
Net income available to common stockholders - basic	765	2,154
ADD BACK: Income allocated to participating securities - Unvested RSAs	2	11
LESS: Income reallocated to participating securities - Unvested RSAs	(2)	(11)
Net income available to common stockholders - diluted	$ 765	$ 2,154
Weighted average number of shares outstanding, basic (in shares)	2,539,213	2,578,413
Effect of potentially dilutive common shares (in shares)	17,745	25,630
Weighted average number of shares outstanding, diluted (in shares)	2,556,958	2,604,043
Earnings per share, basic (in dollars per share)	$ 0.30	$ 0.84
Earnings per share, diluted (in dollars per share)	$ 0.30	$ 0.83
Anti-dilutive securities not included in computation of diluted earnings per common share (in shares)	7,596	8,009

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options and Restricted Stock (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) plan shares	Mar. 31, 2023 USD ($)
Stock-based Compensation [Line Items]
Share-based compensation expense | $	$ 95	$ 192
Stock Options
Stock-based Compensation [Line Items]
Cumulative number of shares issued (in shares)	301,453
Restricted Stock
Stock-based Compensation [Line Items]
Cumulative number of shares issued (in shares)	167,114
2013 Plan
Stock-based Compensation [Line Items]
Award annual vesting rights | plan	1
2013 Plan | Stock Options and Stock Appreciation Rights
Stock-based Compensation [Line Items]
Common stock approved (in shares)	181,750
2013 Plan | Restricted Stock and Restricted Stock Units
Stock-based Compensation [Line Items]
Common stock approved (in shares)	116,700

Stock-based Compensation - St_2

Stock-based Compensation - Stock Option Awards Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based Compensation [Line Items]
Intrinsic value of the shares exercised	$ 22	$ 327
Stock Options
Stock-based Compensation [Line Items]
Term of awards	10 years
Unrecognized compensation cost	$ 190
Remaining weighted-average vesting period	2 years 4 months 24 days
Granted (in shares)	6,469	12,425
Stock Options | 2008 Plan
Stock-based Compensation [Line Items]
Annual vesting percentage	20%
Vesting commencement period from grant date	1 year
Stock Options | 2013 Plan | Minimum
Stock-based Compensation [Line Items]
Award vesting period	1 year
Stock Options | 2013 Plan | Maximum
Stock-based Compensation [Line Items]
Award vesting period	4 years

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Option Plan Award Activity (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Shares
Outstanding, beginning of period (in shares)	80,735
Granted (in shares)	6,469	12,425
Exercised (in shares)	(1,235)
Expired (in shares)	(257)
Outstanding, end of period (in shares)	85,712		80,735
Exercisable, Shares (in shares)	66,231
Expected to vest, assuming a 0% forfeiture rate over the vesting term, Shares (in shares)	85,712
Weighted- Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 32.28
Granted (in dollars per share)	39.89
Exercised (in dollars per share)	21.16
Expired (in dollars per share)	36.57
Outstanding, end of period (in dollars per share)	33		$ 32.28
Exercisable, Weighted-Average Exercise Price (in dollars per share)	30.95
Expected to Vest, assuming a 0% forfeiture rate over the vesting term, Weighted-Average Exercise Price (in dollars per share)	$ 33
Additional Disclosures
Forfeiture rate	0%
Outstanding, Weighted-Average Remaining Contractual Term	5 years 6 months 10 days		5 years 4 months 9 days
Exercisable, Weighted-Average Remaining Contractual Term	4 years 6 months 29 days
Expected to Vest, assuming a 0% forfeiture rate over the vesting term, Weighted-Average Remaining Contractual Term	5 years 6 months 10 days
Outstanding, Aggregate Intrinsic Value	$ 685		$ 603
Exercisable, Aggregate Intrinsic Value	661
Expected to Vest, assuming a 0% forfeiture rate over the vesting term, Aggregate Intrinsic Value	$ 685
Share-based compensation arrangement, fair value assumptions and methodology [Abstract]
Annual dividend yield	1.69%	1.69%
Expected volatility	28.15%	28.15%
Risk-free interest rate	4.06%	3.60%
Expected term	6 years	6 years
Weighted-average grant date fair value per option granted (in dollars per share)	$ 11.64	$ 11.33

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Awards Narrative (Details) - Restricted Stock - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based Compensation [Line Items]
Unrecognized compensation cost	$ 632
Remaining weighted-average vesting period	2 years 4 months 24 days
Total fair value of shares vested	$ 262	$ 370
2008 Plan
Stock-based Compensation [Line Items]
Annual vesting percentage	20%
Vesting commencement period from grant date	1 year
2013 Plan | Minimum
Stock-based Compensation [Line Items]
Award vesting period	1 year
2013 Plan | Maximum
Stock-based Compensation [Line Items]
Award vesting period	4 years

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Nonvested Restricted Stock Awards (Details) - Restricted Stock - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Shares
Non-vested, beginning of period (in shares)	15,967
Granted (in shares)	8,048
Vested (in shares)	(6,872)
Forfeited (in shares)	0
Non-vested, end of period (in shares)	17,143
Expected to vest assuming a 0% forfeiture rate over the vesting term, Shares (in shares)	17,143
Weighted-Average Grant-Date Fair Value Per Share
Non-vested, beginning of period (in dollars per share)	$ 39.20
Granted (in dollars per share)	39.89	$ 40.13
Vested (in dollars per share)	38.19
Forfeited (in dollars per share)	0
Non-vested, end of period (in dollars per share)	39.93
Expected to vest assuming a 0% forfeiture rate over the vesting term, Weighted-Average Grant-Date Fair Value Per Share (in dollars per share)	39.93
Aggregate Intrinsic Value Per Share
Non-vested, Aggregate Intrinsic Value Per Share (in dollars per share)	40.17
Expected to vest assuming a 0% forfeiture rate over the vesting term, Aggregate Intrinsic Value Per Share (in dollars per share)	$ 40.17
Forfeiture rate	0%

Stock-based Compensation - Empl

Stock-based Compensation - Employee Stock Ownership Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Number of common shares held by the trust (in shares)	169,647
Fair value of shares held by ESOP trust	$ 6,800
ESOP compensation expense	$ 189	$ 204

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 renewalOption
Lessee, Lease, Description [Line Items]
Number of renewal options	1
Minimum
Lessee, Lease, Description [Line Items]
Initial lease term	3 years
Remaining lease term	5 months
Maximum
Lessee, Lease, Description [Line Items]
Initial lease term	10 years
Remaining lease term	5 years 3 months 18 days

Leases - Schedule of Balance Sh

Leases - Schedule of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 4,259	$ 4,496
Operating lease liabilities	$ 4,576	$ 4,821

Leases - Schedule of Components

Leases - Schedule of Components of the Leases and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Sublease income	$ (3)	$ (3)
Net lease expense	267	265
Office leases
Property, Plant and Equipment [Line Items]
Operating lease expense	$ 270	268
Weighted-average remaining lease term:	4 years 10 months 24 days		5 years 2 months 12 days
Weighted-average discount rate (annualized):	2.78%		2.77%
Operating cash flows	$ 278	$ 271

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liability Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 1,083
2025	933
2026	944
2027	963
2028	843
Thereafter	136
Total lease payments	4,902
Less: Present value discount	326
Present value of lease liabilities	$ 4,576	$ 4,821

Subsequent Events (Details)

Subsequent Events (Details)	Apr. 29, 2024 $ / shares
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.19