Waterstone Financial (WSBF) 10-K 6 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Waterstone Financial, Inc.
Entity Central Index Key	1,569,994
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Public Float			$ 499.9
Entity Common Stock, Shares Outstanding		28,088,739
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash	$ 48,234	$ 22,306
Federal funds sold	25,100	17,034
Interest-earning deposits in other financial institutions and other short term investments	12,767	9,267
Cash and cash equivalents	86,101	48,607
Securities available for sale	185,720	199,707
Loans held for sale (at fair value)	141,616	149,896
Loans receivable	1,379,148	1,291,814
Less: Allowance for loan losses	13,249	14,077
Loans receivable, net	1,365,899	1,277,737
Office properties and equipment, net	24,524	22,941
Federal Home Loan Bank stock (at cost)	19,350	16,875
Cash surrender value of life insurance	67,550	65,996
Real estate owned, net	2,152	4,558
Prepaid expenses and other assets	22,469	20,084
Total assets	1,915,381	1,806,401
Liabilities:
Demand deposits	139,111	129,597
Money market and savings deposits	163,511	148,804
Time deposits	735,873	688,979
Total deposits	1,038,495	967,380
Borrowings	435,046	386,285
Advance payments by borrowers for taxes	4,371	4,876
Other liabilities	37,790	35,756
Total liabilities	1,515,702	1,394,297
Shareholders' equity:
Preferred stock (par value $.01 per share) Authorized - 50,000,000 shares in 2018and 2017, no shares issued	0	0
Common stock (par value $.01 per share) Authorized - 100,000,000 shares in 2018and 2017 Issued - 28,463,239 in 2018 and 29,501,346 in 2017 Outstanding - 28,463,239 in 2018 and 29,501,346 in 2017	285	295
Additional paid-in capital	330,327	326,655
Retained earnings	187,153	183,358
Unearned ESOP shares	(17,804)	(18,991)
Accumulated other comprehensive loss, net of taxes	(2,361)	(477)
Cost of shares repurchased (7,171,537 in 2018 and 6,030,900 in 2017), at cost	(97,921)	(78,736)
Total shareholders' equity	399,679	412,104
Total liabilities and shareholders' equity	$ 1,915,381	$ 1,806,401

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Shareholders' equity:
Preferred stock - par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock - shares authorized (in shares)	50,000,000	50,000,000
Preferred stock - shares issued (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	100,000,000	100,000,000
Common stock - shares issued (in shares)	28,463,239	29,501,346
Common stock - shares outstanding (in shares)	28,463,239	29,501,346
Treasury shares (in shares)	7,171,537	6,030,900

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest income:
Loans	$ 66,966	$ 60,824	$ 57,185
Mortgage-related securities	2,648	2,646	3,048
Debt securities, federal funds sold and short-term investments	4,086	3,625	3,503
Total interest income	73,700	67,095	63,736
Interest expense:
Deposits	11,627	7,739	7,364
Borrowings	7,896	8,623	12,928
Total interest expense	19,523	16,362	20,292
Net interest income	54,177	50,733	43,444
Provision for loan losses	(1,060)	(1,166)	380
Net interest income after provision for loan losses	55,237	51,899	43,064
Noninterest income:
Service charges on loans and deposits	1,680	1,625	2,232
Increase in cash surrender value of life insurance	1,848	1,807	1,767
Mortgage banking income	113,151	120,044	121,069
Gain on sale of available for sale securities	0	(107)	0
Other	1,520	1,044	1,297
Total noninterest income	118,199	124,413	126,365
Noninterest expenses:
Compensation, payroll taxes, and other employee benefits	97,784	97,084	95,056
Occupancy, office furniture and equipment	10,855	10,178	9,347
Advertising	4,123	3,333	2,743
Data processing	2,792	2,439	2,520
Communications	1,611	1,560	1,462
Professional fees	2,327	2,656	2,135
Real estate owned	1	379	399
Loan processing expense	3,372	3,062	2,875
Other	10,291	11,188	10,898
Total noninterest expenses	133,156	131,879	127,435
Income before income taxes	40,280	44,433	41,994
Income tax expense	9,526	18,469	16,462
Net income	$ 30,754	$ 25,964	$ 25,532
Income per share:
Basic (in dollars per share)	$ 1.12	$ 0.95	$ 0.94
Diluted (in dollars per share)	$ 1.11	$ 0.93	$ 0.93
Weighted average shares outstanding:
Basic (in shares)	27,363	27,467	27,037
Diluted (in shares)	27,634	27,899	27,374

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 30,754	$ 25,964	$ 25,532
Other comprehensive loss, net of tax:
Net unrealized holding loss on available for sale securities arising during theperiod, net of tax benefit of $710, $106 and $622 respectively	(1,889)	(159)	(960)
Recognition of net deferred tax liability revaluation due to tax law change	5	(5)	0
Reclassification adjustment for net loss on available for sale securities realizedduring the period, net of tax benefit of $-, ($42) and $-, respectively	0	65	0
Total other comprehensive loss	(1,884)	(99)	(960)
Comprehensive income	$ 28,870	$ 25,865	$ 24,572

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other comprehensive loss, net of tax:
Net unrealized holding loss on available for sale securities arising during the period, net of tax benefit	$ 710	$ 106	$ 622
Reclassification adjustment for net loss on available for sale securities realized during the period, net of taxes	$ 0	$ (42)	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Unearned ESOP Shares [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Cost of Shares Repurchased [Member]	Total
Balances at Dec. 31, 2015	$ 294	$ 317,022	$ 168,089	$ (21,365)	$ 582	$ (72,692)	$ 391,930
Balances (in shares) at Dec. 31, 2015	29,407,000
Comprehensive income:
Net income	$ 0	0	25,532	0	0	0	25,532
Other comprehensive loss	0	0	0	0	(960)	0	(960)
Total comprehensive income							24,572
ESOP shares committed to be released to Plan participants	0	446	0	1,187	0	0	1,633
Cash dividend	0	0	(9,056)	0	0	0	(9,056)
Stock compensation activity, net of tax	$ 3	3,553	0	0	0	0	3,556
Stock compensation activity, net of tax (in shares)	307,000
Stock based compensation expense	$ 0	1,913	0	0	0	0	1,913
Purchase of common stock returned to authorized but unissued						(3,855)
Purchase of common stock returned to authorized but unissued	$ (3)	0	0	0	0		(3,858)
Purchase of common stock returned to authorized but unissued (in shares)	(284,000)
Balances at Dec. 31, 2016	$ 294	322,934	184,565	(20,178)	(378)	(76,547)	410,690
Balances (in shares) at Dec. 31, 2016	29,430,000
Comprehensive income:
Net income	$ 0	0	25,964	0	0	0	25,964
Other comprehensive loss	0	0	0	0	(99)	0	(99)
Total comprehensive income							25,865
ESOP shares committed to be released to Plan participants	0	769	0	1,187	0	0	1,956
Cash dividend	0	0	(27,171)	0	0	0	(27,171)
Stock compensation activity, net of tax	$ 2	1,050	0	0	0	0	1,052
Stock compensation activity, net of tax (in shares)	194,000
Stock based compensation expense	$ 0	1,902	0	0	0	0	1,902
Purchase of common stock returned to authorized but unissued						(2,189)
Purchase of common stock returned to authorized but unissued	$ (1)	0	0	0	0		(2,190)
Purchase of common stock returned to authorized but unissued (in shares)	(123,000)
Balances at Dec. 31, 2017	$ 295	326,655	183,358	(18,991)	(477)	(78,736)	$ 412,104
Balances (in shares) at Dec. 31, 2017	29,501,000						29,501,346
Comprehensive income:
Net income	$ 0	0	30,754	0	0	0	$ 30,754
Other comprehensive loss	0	0	0	0	(1,884)	0	(1,884)
Total comprehensive income							28,870
Reclassification for net deferred tax liability revaluation	0	0	(5)	0	0	0	(5)
ESOP shares committed to be released to Plan participants	0	609	0	1,187	0	0	1,796
Cash dividend	0	0	(26,954)	0	0	0	(26,954)
Stock compensation activity, net of tax	$ 1	1,303	0	0	0	0	1,304
Stock compensation activity, net of tax (in shares)	103,000
Stock based compensation expense	$ 0	1,760	0	0	0	0	1,760
Purchase of common stock returned to authorized but unissued						(19,185)
Purchase of common stock returned to authorized but unissued	$ (11)	0	0	0	0		(19,196)
Purchase of common stock returned to authorized but unissued (in shares)	(1,141,000)
Balances at Dec. 31, 2018	$ 285	$ 330,327	$ 187,153	$ (17,804)	$ (2,361)	$ (97,921)	$ 399,679
Balances (in shares) at Dec. 31, 2018	28,463,000						28,463,239

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities:
Net income	$ 30,754	$ 25,964	$ 25,532
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for loan losses	(1,060)	(1,166)	380
Provision for depreciation	2,296	2,050	2,615
Deferred income taxes	535	3,079	1,564
Stock based compensation	1,760	1,902	1,913
Net amortization of premium/discount on debt and mortgage related securities	444	682	991
Amortization of unearned ESOP shares	1,796	1,956	1,633
Amortization and valuation allowance on mortgage servicing rights	191	106	598
Gain on sale of loans held for sale	(109,526)	(121,951)	(123,154)
Loans originated for sale	(2,509,827)	(2,458,370)	(2,378,926)
Proceeds on sales of loans originated for sale	2,627,634	2,655,673	2,443,347
Increase in accrued interest receivable	(413)	(643)	(173)
Increase in cash surrender value of life insurance	(1,848)	(1,807)	(1,767)
Increase (decrease) in accrued interest on deposits and borrowings	509	(30)	(726)
Increase (decrease) in other liabilities	1,622	(3,079)	4,659
(Increase) decrease in prepaid income tax	(1,178)	(1,686)	557
Loss on sale of available for sale securities	0	107	0
Net gain on real estate owned	(265)	(24)	(197)
Gain on sale of mortgage servicing rights	(417)	(178)	0
Other	(71)	4,512	(2,908)
Net cash provided by (used in) operating activities	42,936	107,097	(24,062)
Investing activities:
Net increase in loans receivable	(87,648)	(116,887)	(68,076)
Net change in FHLB stock	(2,475)	(3,600)	6,225
Purchases of:
Debt securities	0	(6,140)	(5,285)
Mortgage related securities	(28,058)	(16,827)	(9,215)
Premises and equipment, net	(3,962)	(1,577)	(1,085)
Bank owned life insurance	(180)	(2,680)	(10,180)
Mortgage banking branch	(163)	0	0
Proceeds from:
Principal repayments on mortgage-related securities	28,572	32,968	39,935
Maturities of debt securities	10,435	15,686	14,855
Sales of debt securities	0	448	0
Death benefit from bank owned life insurance	474	0	0
Sales of real estate owned	3,134	3,733	7,796
Net cash used in investing activities	(79,871)	(94,876)	(25,030)
Financing activities:
Net increase in deposits	71,115	17,969	56,050
Net change in short term borrowings	(41,239)	(26,870)	65,952
Repayment of long term debt	(165,000)	(149,000)	(220,000)
Proceeds from long term debt	255,000	175,000	100,000
Net (decrease) increase in advance payments by borrowers for taxes	(505)	160	1,055
Cash dividends in common stock	(27,050)	(26,952)	(6,917)
Proceeds from stock option exercises	1,304	1,052	3,556
Purchase of common stock returned to authorized but unissued	(19,196)	(2,190)	(3,858)
Net cash provided by (used in) financing activities	74,429	(10,831)	(4,162)
Increase (decrease) in cash and cash equivalents	37,494	1,390	(53,254)
Cash and cash equivalents at beginning of year	48,607	47,217	100,471
Cash and cash equivalents at end of year	86,101	48,607	47,217
Cash paid or credited during the period for:
Income tax payments	10,168	17,081	14,352
Interest payments	19,014	16,392	21,018
Noncash activities:
Loans receivable transferred to other real estate	545	2,171	4,590
Dividends declared but not paid in other liabilities	$ 3,798	$ 3,894	$ 3,677

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1) Summary of Significant Accounting Policies The following significant accounting and reporting policies of Waterstone Financial, Inc. and subsidiaries (collectively, the “Company”), conform to U.S. generally accepted accounting principles, or (“GAAP”), and are used in preparing and presenting these consolidated financial statements. Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications did not result in any changes to previously reported net income or shareholders' equity. a) Nature of Operations The Company is a one-bank holding company with two operating segments – community banking and mortgage banking. WaterStone Bank SSB (the "Bank" or "WaterStone Bank") is principally engaged in the business of attracting deposits from the general public and using such deposits to originate real estate, business and consumer loans. The Bank provides a full range of financial services to customers through branch locations in southeastern Wisconsin. In addition, the Bank has a loan production office in Minneapolis, Minnesota. The Bank is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The Bank owns a mortgage banking subsidiary that originates residential real estate loans held for sale at various branch offices across the country. Mortgage banking volume fluctuates widely given movements in interest rates. Mortgage banking income is reported as a single line item in the statements of operations while mortgage banking expense is distributed among the various noninterest expense lines. Compensation, payroll taxes and other employee benefits expense varies directly with mortgage banking income. b) Principles of Consolidation The consolidated financial statements include the accounts and operations of Waterstone Financial, Inc. and its wholly owned subsidiary, WaterStone Bank. The Bank has the following wholly owned subsidiaries: Wauwatosa Investments, Inc., Waterstone Mortgage Corporation, and Main Street Real Estate Holdings, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. c) Use of Estimates The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include: the allowance for loan losses, income taxes, and fair value measurements. e) Cash and Cash Equivalents The Company considers federal funds sold and highly liquid debt instruments with a maturity of three months or less when purchased to be cash equivalents. e) Securities Available for Sale Securities At the time of purchase, investment securities are classified as available for sale, as management has the intent and ability to hold such securities for an indefinite period of time, but not necessarily to maturity. Any decision to sell investment securities available for sale would be based on various factors, including, but not limited to asset/liability management strategies, changes in interest rates or prepayment risks, liquidity needs, or regulatory capital considerations. Available for sale securities are carried at fair value, with the unrealized gains and losses, net of deferred tax, reported as a separate component of equity in accumulated other comprehensive income (loss). The cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity or, in the case of mortgage-backed securities and collateralized mortgage obligations, over the estimated life of the security. Such amortization or accretion is included in interest income from securities. Realized gains or losses on securities sales (using specific identification method) are included in other income. Declines in value judged to be other than temporary are included in net impairment losses recognized in earnings in the consolidated statements of operations. Other Than Temporary Impairment One of the significant estimates related to securities is the evaluation of investments for other than temporary impairment. The Company assesses investment securities with unrealized loss positions for other than temporary impairment on at least a quarterly basis. When the fair value of an investment is less than its amortized cost at the balance sheet date of the reporting period for which impairment is assessed, the impairment is designated as either temporary or other than temporary. In evaluating other than temporary impairment, management considers the length of time and extent to which the fair value has been less than cost and the expected recovery period of the security, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of investment securities below amortized cost are deemed to be other than temporary when the Company cannot assert that it will recover its amortized cost basis, including whether the present value of cash flows expected to be collected is less than the amortized cost basis of the security. If it is more likely than not that the Company will be required to sell the security before recovery or if the Company has the intent to sell, an other than temporary impairment write down is recognized in earnings equal to the difference between the security’s amortized cost and its fair value. If it is not more likely than not that the Company will be required to sell the security before recovery and if the Company does not intend to sell, the other than temporary impairment write down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to other factors, which is recognized as a separate component of equity. Following the recognition of an other than temporary impairment representing credit loss, the book value of an investment less the impairment loss realized becomes the new cost basis. The determination as to whether an other than temporary impairment exists and, if so, the amount considered other than temporarily impaired, or not impaired, is subjective and, therefore, the timing and amount of other than temporary impairments constitute material estimates that are subject to significant change. Federal Home Loan Bank Stock Federal Home Loan Bank ("FHLB") stock is carried at cost, which is the amount that the stock is redeemable by tendering to the FHLB or the amount at which shares can be sold to other FHLB members. f) Loans Held for Sale The origination of residential real estate loans is an integral component of the business of the Company. The Company generally sells its originations of long-term fixed interest rate mortgage loans in the secondary market, and on a selective basis, retains the rights to service the loans sold. Gains and losses on the sales of these loans are determined using the specific identification method. Mortgage loans originated for sale are generally sold within 45 days after closing. The Company has elected to carry loans held for sale at fair value. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the market. The amount by which cost differs from market value is accounted for as a valuation adjustment to the carrying value of the loans. Changes in value are included in mortgage banking income in the consolidated statements of operations. Costs to originate loans held for sale are expensed as incurred and are included on the appropriate noninterest expense lines of the statements of operations. Salaries, commissions and related payroll taxes are the primary costs to originate and comprised approximately 75.1% of total mortgage banking noninterest expense for 2018. The value of mortgage loans held for sale and other residential mortgage loan commitments to customers are hedged by utilizing both best efforts and mandatory forward commitments to sell loans to investors in the secondary market. Such forward commitments are generally entered into at the time when applications are taken to protect the value of the mortgage loans from increases in market interest rates during the period held. The Company recognizes revenue associated with the expected future cash flows of servicing loans at the time a forward loan commitment is made, as required under Securities and Exchange Commission Staff Accounting Bulletin No. 109, Written Loan Commitments Recorded at Fair Value Through Earnings. g) Loans Receivable and Related Interest Income Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Loans are carried at the principal amount outstanding, net of any unearned income, charge-offs and unamortized deferred fees and costs. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount amortized as an adjustment of the related loan yield. Amortization is based on a level-yield method over the contractual life of the related loans or until the loan is paid in full. Loan interest income is recognized on the accrual basis. Accrual of interest is generally discontinued either when reasonable doubt exists as to the full, timely collection of interest or principal, or when a loan becomes contractually past due more than 90 days with respect to interest or principal. At that time, previously accrued and uncollected interest on such loans is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. A loan is accounted for as a troubled debt restructuring if the Company, for economic reasons related to the borrower’s financial condition, grants a concession to the borrower that it would not otherwise consider. A troubled debt restructuring typically involves a modification of terms such as a reduction of the stated interest rate, a deferral of principal payments or a combination of both for a temporary period of time. If the borrower was performing in accordance with the original contractual terms at the time of the restructuring, the restructured loan is accounted for on an accruing basis as long as the borrower continues to comply with the modified terms. If the loan was not accounted for on an accrual basis at the time of restructuring, the restructured loan remains in non-accrual status until the loan completes a minimum of six consecutive contractual payments. h) Allowance for Loan Losses The allowance for loan losses is presented as a reserve against loans and represents the Bank’s assessment of probable loan losses inherent in the loan portfolio. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Estimated loan losses are charged against the allowance when the loan balance is confirmed to be uncollectible directly or indirectly by the borrower or upon initiation of a foreclosure action by the Bank. Subsequent recoveries, if any, are credited to the allowance. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent in the loan portfolio, but have not been specifically identified. The Bank utilizes its own loss history to estimate inherent losses on loans. Although the Bank allocates portions of the allowance to specific loans and loan types, the entire allowance is available for any loan losses that occur. The Bank evaluates the need for specific valuation allowances on loans that are considered impaired. A loan is considered impaired when, based on current information and events, it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Within the loan portfolio, all non-accrual loans and loans modified under troubled debt restructurings have been determined by the Bank to meet the definition of an impaired loan. In addition, other loans may be considered impaired loans. A valuation allowance is established for an amount equal to the impairment when the carrying amount of the loan exceeds the present value of the expected future cash flows, discounted at the loan’s original effective interest rate or the fair value of the underlying collateral. The Bank also establishes valuation allowances based on an evaluation of the various risk components that are inherent in the loan portfolio. The risk components that are evaluated include past loan loss experience; the level of non-performing and classified assets; current economic conditions; volume, growth, and composition of the loan portfolio; adverse situations that may affect the borrower’s ability to repay; the estimated value of any underlying collateral; regulatory guidance; and other relevant factors. The appropriateness of the allowance for loan losses is approved quarterly by the Bank’s board of directors. The allowance reflects management’s best estimate of the amount needed to provide for the probable loss on impaired loans, as well as other credit risks of the Bank, and is based on a risk model developed and implemented by management and approved by the Bank’s board of directors. Actual results could differ from this estimate, and future additions to the allowance may be necessary based on unforeseen changes in economic conditions. In addition, federal regulators periodically review the Bank’s allowance for loan losses. Such regulators have the authority to require the Bank to recognize additions to the allowance at the time of their examination. i) Real Estate Owned Real estate owned consists of properties acquired through, or in lieu of, loan foreclosure. Real estate owned is transferred into the portfolio at estimated net realizable value. To the extent that the net carrying value of the loan exceeds the estimated fair value of the property at the date of transfer, the excess is charged to the allowance for loan losses within 90 days of being transferred. Subsequent write-downs to reflect current fair market value, as well as gains and losses upon disposition and revenue and expenses incurred in maintaining such properties, are treated as period costs and included in real estate owned in the consolidated statements of operations. j) Mortgage Servicing Rights The Company sells residential mortgage loans in the secondary market and, on a selective basis, retains the right to service the loans sold. Upon sale, a mortgage servicing rights asset is capitalized, which represents the then current fair value of future net cash flows expected to be realized for performing servicing activities. Mortgage servicing rights, when purchased, are initially recorded at fair value. Mortgage servicing rights are amortized over the period of estimated net servicing income, and assessed for impairment at each reporting date. Mortgage servicing rights are carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets, net in the consolidated balance sheets. To the extent that the Company sells mortgage servicing rights, a gain is recognized for the amount of which sale proceeds exceed the remaining unamortized cost of the servicing rights that were sold. Gains on sale of mortgage servicing rights are included in other noninterest income in the consolidated statements of operations. k) Cash Surrender Value of Life Insurance The Company purchases bank owned life insurance on the lives of certain employees. The Company is the beneficiary of the life insurance policies. The cash surrender value of life insurance is reported at the amount that would be received in cash if the polices were surrendered. Increases in the cash value of the policies and proceeds of death benefits received are recorded in noninterest income. The increase in cash surrender value of life insurance is not subject to income taxes, as long as the Company has the intent and ability to hold the policies until the death benefits are received. l) Office Properties and Equipment Office properties and equipment, including leasehold improvements and software, are stated at cost, net of depreciation and amortization. Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lease term, if shorter than the estimated useful life. Maintenance and repairs are charged to expense as incurred, while additions or major improvements are capitalized and depreciated over their estimated useful lives. Estimated useful lives of the assets are 10 to 30 years for office properties, three to 10 years for equipment, and three years for software. Rent expense related to long-term operating leases is recorded on the accrual basis. m) Income Taxes The Company and its subsidiaries file consolidated federal and combined state income tax returns. The provision for income taxes is based upon income in the consolidated financial statements, rather than amounts reported on the income tax returns. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. Under generally accepted accounting principles, a valuation allowance is required to be recognized if it is “more likely than not” that a deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management's evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. Positions taken in the Company’s tax returns may be subject to challenge by the taxing authorities upon examination. The benefit of uncertain tax positions are initially recognized in the financial statements only when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Interest and penalties on income tax uncertainties are classified within income tax expense in the income statement. n) Earnings Per Share Earnings per share (EPS) are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Shares of the Employee Stock Ownership Plan committed to be released are considered outstanding for both common and diluted EPS. Incentive stock compensation awards granted can result in dilution. o) Comprehensive Income Comprehensive income is the total of reported net income and changes in unrealized gains or losses, net of tax, on securities available for sale. p) Employee Stock Ownership Plan (ESOP) Compensation expense under the ESOP is equal to the fair value of common shares released or committed to be released to participants in the ESOP in each respective period. Common stock purchased by the ESOP and not committed to be released to participants is included in the consolidated statements of financial condition at cost as a reduction of shareholders’ equity. q) Impact of Recent Accounting Pronouncements Accounting Standards Codification (ASC) Topic 606 "Revenue from Contracts with Customers." Revenue Recognition · Debit and credit card interchange fee income · Service charges on deposit accounts · Service charges on loan accounts ASC Topic 825 "Financial Instruments." ASC Topic 842 "Leases." ASC Topic 718 "Compensation - Stock Compensation." ASC Topic 326 "Financial Instruments - Credit Losses." Management has met with the necessary departments needed to implement the new accounting guidance. The Company had identified appropriate loan portfolio segments, determined modeling choices to use, and identified historical information needed. A model calculation is in process along with deciding on assumptions within the model. The Company is also working on updating its accounting policies and assessing the control framework needed around the new standard. ASC Topic 310 "Receivables - Nonrefundable Fees and Other Costs." ASC Topic 220 "Income Statement - Reporting Comprehensive Income."

Securities

Securities	12 Months Ended
	Dec. 31, 2018
Securities Available for Sale [Abstract]
Securities Available for Sale	2) Securities Securities Available for Sale The amortized cost and fair value of the Company’s investment in securities follow: December 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 42,105 91 (565 ) 41,631 Collateralized mortgage obligations Government sponsored enterprise issued 75,923 243 (1,211 ) 74,955 Mortgage related securities 118,028 334 (1,776 ) 116,586 Municipal securities 55,242 825 (119 ) 55,948 Other debt securities 15,002 - (1,816 ) 13,186 Debt securities 70,244 825 (1,935 ) 69,134 $ 188,272 1,159 (3,711 ) 185,720 December 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 57,351 324 (240 ) 57,435 Collateralized mortgage obligations Government sponsored enterprise issued 61,313 3 (816 ) 60,500 Mortgage related securities 118,664 327 (1,056 ) 117,935 Government sponsored enterprise bonds 2,500 - (3 ) 2,497 Municipal securities 62,516 1,334 (81 ) 63,769 Other debt securities 15,005 12 (492 ) 14,525 Debt securities 80,021 1,346 (576 ) 80,791 Certificates of deposit 980 1 - 981 $ 199,665 1,674 (1,632 ) 199,707 The Company’s mortgage-backed securities and collateralized mortgage obligations issued by government sponsored enterprises are guaranteed by one of the following government sponsored enterprises: Fannie Mae, Freddie Mac or Ginnie Mae. At December 31, 2018, $1.8 million of the Company's mortgage related securities were pledged as collateral to secure The amortized cost and fair value of securities at December 31, 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers or borrowers may have the right to prepay obligations with or without prepayment penalties. December 31, 2018 Amortized cost Fair value (In Thousands) Debt securities: Due within one year $ 6,992 6,963 Due after one year through five years 20,891 20,833 Due after five years through ten years 31,754 32,448 Due after ten years 10,607 8,890 Mortgage-related securities 118,028 116,586 $ 188,272 185,720 Total proceeds and gross gains and losses from sales of investment securities available for sale for each of periods listed below. December 31, 2018 2017 2016 (In Thousands) Gross gains $ - - - Gross losses - (107 ) - Losses on sale of investment securities, net $ - (107 ) - Proceeds from sales of investment securities $ - 448 - Gross unrealized losses on securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: December 31, 2018 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 3,036 (9 ) 33,029 (556 ) 36,065 (565 ) Collateralized mortgage obligations Government sponsored enterprise issued 3,079 (13 ) 47,279 (1,198 ) 50,358 (1,211 ) Municipal securities 7,595 (17 ) 11,272 (102 ) 18,867 (119 ) Other debt securities - - 13,186 (1,816 ) 13,186 (1,816 ) $ 13,710 (39 ) 104,766 (3,672 ) 118,476 (3,711 ) December 31, 2017 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 35,136 (143 ) 4,464 (97 ) 39,600 (240 ) Collateralized mortgage obligations Government sponsored enterprise issued 37,949 (348 ) 21,651 (468 ) 59,600 (816 ) Government sponsored enterprise bonds 2,497 (3 ) - - 2,497 (3 ) Municipal securities 17,096 (80 ) 100 (1 ) 17,196 (81 ) Other debt securities - - 9,508 (492 ) 9,508 (492 ) Certificates of deposit - - - - - - $ 92,678 (574 ) 35,723 (1,058 ) 128,401 (1,632 ) The Company reviews the investment securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. In evaluating whether a security’s decline in market value is other-than-temporary, management considers the length of time and extent to which the fair value has been less than cost, financial condition of the issuer and the underlying obligors, quality of credit enhancements, volatility of the fair value of the security, the expected recovery period of the security and ratings agency evaluations. In addition, the Company may also evaluate payment structure, whether there are defaulted payments or expected defaults, prepayment speeds and the value of any underlying collateral. As of December 31, 2018, the Company identified one municipal security that was deemed to be other-than-temporarily impaired. The security was issued by a tax incremental district in a municipality located in Wisconsin. During the year ended December 31, 2012, the Company received audited financial statements with respect to the municipal issuer that called into question the ability of the underlying taxing district that issued the securities to operate as a going concern. During the year ended December 31, 2012, the Company’s analysis of the security in this municipality resulted in $77,000 in credit losses that were charged to earnings with respect to this municipal security. An additional $17,000 credit loss was charged to earnings during the year ended December 31, 2014 with respect to this security as a sale occurred at a discounted price. As of December 31, 2018, the remaining impaired security had an amortized cost of $116,000 and a total life-to-date impairment of $94,000. As of December 31, 2018, the Company had two corporate debt securities, 32 municipal securities, 43 mortgage-backed securities, and 37 government sponsored enterprise issued securities which had been in an unrealized loss position for twelve months or longer. These securities were determined not to be other-than-temporarily impaired as of December 31, 2018. The Company has determined that the decline in fair value of these securities is not attributable to credit deterioration, and as the Company does not intend to sell nor is it more likely than not that it will be required to sell these securities before recovery of the amortized cost basis, these securities are not considered other-than-temporarily impaired. The unrealized losses for the other debt security with an unrealized loss greater than 12 months is due to the current slope of the yield curve. The security currently earns a fixed interest rate but transitions in the future to a floating rate that is indexed to the 10 year Treasury interest rate. The Company does not intend to sell nor does it believe that it will be required to sell the security before recovery of their amortized cost basis. Deterioration of general economic market conditions could result in the recognition of future other-than-temporary impairment losses within the investment portfolio and such amounts could be material to our consolidated financial statements. There were no sales of securities during the years ended December 31, 2018 and December 31, 2016. During the year ended December 31, 2017, proceeds from the sale of securities totaled $448,000 and resulted in losses totaling $107,000. The $107,000 included in loss on sale of available for sale securities in the consolidated statements of income during the year ended December 31, 2017 was reclassified from accumulated other comprehensive income. The following table presents the change in other-than-temporary credit related impairment charges on municipal securities for which a portion of the other-than-temporary impairments related to other factors was recognized in other comprehensive loss. (In Thousands) Credit-related impairments on securities as of December 31, 2016 $ 94 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized $ - Decrease in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized - Credit-related impairments on securities as of December 31, 2017 $ 94 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized $ - Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized - Credit-related impairments on securities as of December 31, 2018 $ 94

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2018
Loan Receivable [Abstract]
Loans Receivable	3) Loans Receivable Loans receivable at December 31, 2018 and 2017 are summarized as follows: December 31, 2018 2017 Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 489,979 439,597 Multi family 597,087 578,440 Home equity 19,956 21,124 Construction and land 13,361 19,859 Commercial real estate 225,522 195,842 Consumer 433 255 Commercial loans 32,810 36,697 Total loans receivable $ 1,379,148 1,291,814 The Company provides several types of loans to its customers, including residential, construction, commercial and consumer loans. Significant loan concentrations are considered to exist for a financial institution when there are amounts loaned to one borrower or to multiple borrowers engaged in similar activities that would cause them to be similarly impacted by economic or other conditions. While credit risks tend to be geographically concentrated in the Company’s Milwaukee metropolitan area and while 80.3% of the Company’s loan portfolio involves loans that are secured by residential real estate, there are no concentrations with individual or groups of related borrowers. While the real estate collateralizing these loans is primarily residential in nature, it ranges from owner-occupied single family homes to large apartment complexes. Qualifying loans receivable totaling $1.01 billion and $971.3 million are pledged as collateral against $430.0 million and $375.0 million in outstanding Federal Home Loan Bank of Chicago advances under a blanket security agreement at both December 31, 2018 and December 31, 2017. Certain of the Company's executive officers, directors, employees, and their related interests have loans with the Bank. As of December 31, 2018 and December 31, 2017, loans aggregating approximately $5.3 million and $7.0 million, respectively, were outstanding to such parties. None of these loans were past due or considered impaired as of December 31, 2018 or December 31, 2017. An analysis of past due loans receivable as of December 31, 2018 and 2017 follows: As of December 31, 2018 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 1,523 76 3,834 5,433 484,546 489,979 Multi family - - 937 937 596,150 597,087 Home equity 216 42 111 369 19,587 19,956 Construction and land - - - - 13,361 13,361 Commercial real estate 39 - 125 164 225,358 225,522 Consumer 29 - - 29 404 433 Commercial loans - - 18 18 32,792 32,810 Total $ 1,807 118 5,025 6,950 1,372,198 1,379,148 As of December 31, 2017 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 1,494 146 3,516 5,156 434,441 439,597 Multi family - 128 192 320 578,120 578,440 Home equity 68 - 56 124 21,000 21,124 Construction and land - - - - 19,859 19,859 Commercial real estate - - 184 184 195,658 195,842 Consumer - - - - 255 255 Commercial loans - 42 26 68 36,629 36,697 Total $ 1,562 316 3,974 5,852 1,285,962 1,291,814 (1) Includes $422,000 and $241,000 for December 31, 2018 and 2017, respectively, which are on non-accrual status. (2) Includes $118,000 and $15,000 for December 31, 2018 and 2017, respectively, which are on non-accrual status. (3) Includes $990,000 and $1.8 million for December 31, 2018 and 2017, respectively, which are on non-accrual status. As of December 31, 2018 and 2017, there were no loans that were 90 or more days past due and still accruing interest. A summary of the activity for the years ended 2018, 2017 and 2016 in the allowance for loan losses follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Year ended December 31, 2018 Balance at beginning of period $ 5,794 4,431 356 949 1,881 10 656 14,077 Provision (credit) for loan losses (142 ) (353 ) (56 ) (589 ) 243 10 (173 ) (1,060 ) Charge-offs (69 ) (14 ) (1 ) - - - - (84 ) Recoveries 159 89 26 40 2 - - 316 Balance at end of period $ 5,742 4,153 325 400 2,126 20 483 13,249 Year ended December 31, 2017 Balance at beginning of period $ 7,164 4,809 364 1,016 1,951 12 713 16,029 Provision (credit) for loan losses (299 ) (494 ) (34 ) (215 ) (64 ) (3 ) (57 ) (1,166 ) Charge-offs (1,364 ) (92 ) - (14 ) (7 ) - - (1,477 ) Recoveries 293 208 26 162 1 1 - 691 Balance at end of period $ 5,794 4,431 356 949 1,881 10 656 14,077 Year ended December 31, 2016 Balance at beginning of period $ 7,763 5,000 433 904 1,680 9 396 16,185 Provision for loan losses (407 ) 146 7 43 271 3 317 380 Charge-offs (1,003 ) (489 ) (112 ) (3 ) - - - (1,607 ) Recoveries 811 152 36 72 - - - 1,071 Balance at end of period $ 7,164 4,809 364 1,016 1,951 12 713 16,029 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2018 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Allowance related to loans individually evaluated for impairment $ 73 - 46 - 67 - - 186 Allowance related to loans collectively evaluated for impairment 5,669 4,153 279 400 2,059 20 483 13,063 Balance at end of period $ 5,742 4,153 325 400 2,126 20 483 13,249 Loans individually evaluated for impairment $ 7,642 1,309 246 - 2,885 - 18 12,100 Loans collectively evaluated for impairment 482,337 595,778 19,710 13,361 222,637 433 32,792 1,367,048 Total gross loans $ 489,979 597,087 19,956 13,361 225,522 433 32,810 1,379,148 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2017 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands ) Allowance related to loans individually evaluated for impairment $ 77 - 44 - 34 - - 155 Allowance related to loans collectively evaluated for impairment 5,717 4,431 312 949 1,847 10 656 13,922 Balance at end of period $ 5,794 4,431 356 949 1,881 10 656 14,077 Loans individually evaluated for impairment $ 7,418 1,007 185 - 540 - 26 9,176 Loans collectively evaluated for impairment 432,179 577,433 20,939 19,859 195,302 255 36,671 1,282,638 Total gross loans $ 439,597 578,440 21,124 19,859 195,842 255 36,697 1,291,814 The following table presents information relating to the Company’s internal risk ratings of its loans receivable as of December 31, 2018 and 2017: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total At December 31, 2018 (In Thousands) Substandard $ 7,799 1,309 246 - 678 - 889 10,921 Watch 4,662 491 468 - 4,343 - 906 10,870 Pass 477,518 595,287 19,242 13,361 220,501 433 31,015 1,357,357 $ 489,979 597,087 19,956 13,361 225,522 433 32,810 1,379,148 At December 31, 2017 (In Thousands) Substandard $ 7,581 1,135 138 - 1,124 - 1,585 11,563 Watch 4,939 330 401 - 295 - 741 6,706 Pass 427,077 576,975 20,585 19,859 194,423 255 34,371 1,273,545 $ 439,597 578,440 21,124 19,859 195,842 255 36,697 1,291,814 Factors that are important to managing overall credit quality include sound loan underwriting and administration, systematic monitoring of existing loans and commitments, effective loan review on an ongoing basis, early identification of potential problems, an allowance for loan losses, and sound non-accrual and charge-off policies. Our underwriting policies require an officers' loan committee review and approval of all loans in excess of $500,000. A member of the credit department, independent of the loan originator, performs a loan review for all loans. Our ability to manage credit risk depends in large part on our ability to properly identify and manage problem loans. To do so, we maintain a loan review system under which our credit management personnel review non-owner occupied one- to four-family, multi-family, construction and land, and commercial real estate that individually, or as part of an overall borrower relationship exceed $1.0 million in potential exposure and review commercial loans that individually, or as part of an overall borrower relationship exceed $200,000 in potential exposure. Loans meeting these criteria are reviewed on an annual basis, or more frequently, if the loan renewal is less than one year. With respect to this review process, management has determined that pass loans include loans that exhibit acceptable financial statements, cash flow and leverage. Watch loans have potential weaknesses that deserve management’s attention, and if left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit. Substandard loans are considered inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged. These loans generally have a well-defined weakness that may jeopardize liquidation of the debt and are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Finally, a loan is considered to be impaired when it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management has determined that all non-accrual loans and loans modified under troubled debt restructurings meet the definition of an impaired loan. The Company’s procedures dictate that an updated valuation must be obtained with respect to underlying collateral at the time a loan is deemed impaired. Updated valuations may also be obtained upon transfer from loans receivable to real estate owned based upon the age of the prior appraisal, changes in market conditions or known changes to the physical condition of the property. Estimated fair values are reduced to account for sales commissions, broker fees, unpaid property taxes and additional selling expenses to arrive at an estimated net realizable value. The adjustment factor is based upon the Company’s actual experience with respect to sales of real estate owned over the prior two years. In situations in which we are placing reliance on an appraisal that is more than one year old, an additional adjustment factor is applied to account for downward market pressure since the date of appraisal. The additional adjustment factor is based upon relevant sales data available for our general operating market as well as company-specific historical net realizable values as compared to the most recent appraisal prior to disposition. With respect to over-four family income producing real estate, appraisals are reviewed and estimated collateral values are adjusted by updating significant appraisal assumptions to reflect current real estate market conditions. Significant assumptions reviewed and updated include the capitalization rate, rental income and operating expenses. These adjusted assumptions are based upon recent appraisals received on similar properties as well as on actual experience related to real estate owned and currently under Company management. The following tables present data on impaired loans as of and for the year ended December 31, 2018 and 2017. As of or for the Year Ended December 31, 2018 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 462 462 73 - 470 32 Multi family - - - - - - Home equity 107 107 46 - 110 7 Construction and land - - - - - - Commercial real estate 2,493 2,902 67 409 4,058 181 Consumer - - - - - - Commercial - - - - - - $ 3,062 3,471 186 409 4,638 220 Total Impaired with no Reserve One- to four-family $ 7,180 8,120 - 940 7,355 383 Multi family 1,309 2,142 - 833 1,351 96 Home equity 139 139 - - 144 5 Construction and land - - - - - - Commercial real estate 392 392 - - 431 15 Consumer - - - - - - Commercial 18 18 - - 25 - $ 9,038 10,811 - 1,773 9,306 499 Total Impaired One- to four-family $ 7,642 8,582 73 940 7,825 415 Multi family 1,309 2,142 - 833 1,351 96 Home equity 246 246 46 - 254 12 Construction and land - - - - - - Commercial real estate 2,885 3,294 67 409 4,489 196 Consumer - - - - - - Commercial 18 18 - - 25 - $ 12,100 14,282 186 2,182 13,944 719 As of or for the Year Ended December 31, 2017 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 903 903 77 - 913 52 Multi family - - - - - - Home equity 79 79 44 - 83 6 Construction and land - - - - - - Commercial real estate 34 443 34 409 43 - Consumer - - - - - - Commercial - - - - - - $ 1,016 1,425 155 409 1,039 58 Total Impaired with no Reserve One- to four-family $ 6,515 7,604 - 1,089 6,796 359 Multi family 1,007 1,864 - 857 1,005 94 Home equity 106 106 - - 111 5 Construction and land - - - - - - Commercial real estate 506 506 - - 513 19 Consumer - - - - - - Commercial 26 26 - - 26 - $ 8,160 10,106 - 1,946 8,451 477 Total Impaired One- to four-family $ 7,418 8,507 77 1,089 7,709 411 Multi family 1,007 1,864 - 857 1,005 94 Home equity 185 185 44 - 194 11 Construction and land - - - - - - Commercial real estate 540 949 34 409 556 19 Consumer - - - - - - Commercial 26 26 - - 26 - $ 9,176 11,531 155 2,355 9,490 535 The difference between a loan’s recorded investment and the unpaid principal balance represents a partial charge-off resulting from a confirmed loss due to the value of the collateral securing the loan being below the loan balance and management’s assessment that the full collection of the loan balance is not likely. When a loan is considered impaired, interest payments received are treated as interest income on a cash basis as long as the remaining book value of the loan (i.e., after charge-off of all identified losses) is deemed to be fully collectible. If the remaining book value is not deemed to be fully collectible, all payments received are applied to unpaid principal. Determination as to the ultimate collectability of the remaining book value is supported by an updated credit department evaluation of the borrower’s financial condition and prospects for repayment, including consideration of the borrower’s sustained historical repayment performance and other relevant factors. The determination as to whether an allowance is required with respect to impaired loans is based upon an analysis of the value of the underlying collateral and/or the borrower’s intent and ability to make all principal and interest payments in accordance with contractual terms. The evaluation process is subject to the use of significant estimates and actual results could differ from estimates. This analysis is primarily based upon third party appraisals and/or a discounted cash flow analysis. In those cases in which no allowance has been provided for an impaired loan, the Company has determined that the estimated value of the underlying collateral exceeds the remaining outstanding balance of the loan. Of the total $9.0 million of impaired loans as of December 31, 2018 for which no allowance has been provided, $1.8 million in charge-offs have been recorded to reduce the unpaid principal balance to an amount that is commensurate with the loan’s net realizable value, using the estimated fair value of the underlying collateral. To the extent that further deterioration in property values continues, the Company may have to reevaluate the sufficiency of the collateral servicing these impaired loans resulting in additional provisions to the allowance for loans losses or charge-offs. The following presents data on troubled debt restructurings: As of December 31, 2018 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,740 2 $ 844 5 $ 3,584 7 Multi family - - 372 2 372 2 Commercial real estate 2,759 2 17 1 2,776 3 $ 5,499 4 $ 1,233 8 $ 6,732 12 As of December 31, 2017 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,740 2 $ 1,156 7 $ 3,896 9 Multi family - - 815 3 815 3 Home equity 47 1 - - 47 1 Commercial real estate 290 1 34 1 324 2 $ 3,077 4 $ 2,005 11 $ 5,082 15 Troubled debt restructurings involve granting concessions to a borrower experiencing financial difficulty by modifying the terms of the loan in an effort to avoid foreclosure. Typical restructured terms include six to twelve months of principal forbearance, a reduction in interest rate or both. In no instances have the restructured terms included a reduction of outstanding principal balance. At December 31, 2018, $6.7 million in loans had been modified in troubled debt restructurings and $1.2 million of these loans were included in the non-accrual loan total. The remaining $5.5 million, while meeting the internal requirements for modification in a troubled debt restructuring, were current with respect to payments under their original loan terms at the time of the restructuring and thus, continued to be included with accruing loans. Provided these loans perform in accordance with the modified terms, they will continue to be accounted for on an accrual basis. All loans that have been modified in a troubled debt restructuring are considered to be impaired. As such, an analysis has been performed with respect to all of these loans to determine the need for a valuation reserve. When a loan is expected to perform in accordance with the restructured terms and ultimately return to and perform under contract terms, a valuation allowance is established equal to the excess of the present value of the expected future cash flows under the original contract terms as compared with the modified terms, including an estimated default rate. When there is doubt as to the borrower’s ability to perform under the restructured terms or ultimately return to and perform under market terms, a valuation allowance is established equal to the impairment when the carrying amount exceeds fair value of the underlying collateral. As a result of the impairment analysis, a $67,000 valuation allowance has been established as of December 31, 2018 with respect to the $6.7 million in troubled debt restructurings. As of December 31, 2017, $34,000 in valuation allowance had been established with respect to the $5.1 million in troubled debt restructurings. If an updated credit department review indicates no other evidence of elevated credit risk and the borrower completes a minimum of six consecutive contractual payments, the loan is returned to accrual status at that time. The following presents troubled debt restructurings by concession type at December 31, 2018 and 2017: As of December 31, 2018 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 5,848 7 546 2 6,394 9 Interest reduction 338 3 - - 338 3 $ 6,186 10 546 2 6,732 12 As of December 31, 2017 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 4,022 9 660 2 4,682 11 Principal forbearance 47 1 - - 47 1 Interest reduction 353 3 - - 353 3 $ 4,422 13 660 2 5,082 15 The following presents data on troubled debt restructurings: For the Year Ended December 31, 2018 December 31, 2017 Amount Number Amount Number (Dollars in Thousands) Loans modified as a troubled debt restructure Commercial real estate $ 2,476 1 - - $ 2,476 1 - - There were no troubled debt restructurings within the past twelve months for which there was a default during the year ended December 31, 2018. The following table presents data on non-accrual loans: As of December 31, 2018 2017 (Dollars in Thousands) Residential One- to four-family $ 4,902 4,677 Multi family 1,309 1,007 Home equity 201 107 Construction and land - - Commercial real estate 125 251 Commercial 18 26 Consumer - - Total non-accrual loans $ 6,555 6,068 Total non-accrual loans to total loans 0.48 % 0.47 % Total non-accrual loans to total assets 0.34 % 0.34 %

Office Properties and Equipment

Office Properties and Equipment	12 Months Ended
	Dec. 31, 2018
Office Properties and Equipment [Abstract]
Office Properties and Equipment	4) Office Properties and Equipment Office properties and equipment are summarized as follows: December 31, 2018 2017 (In Thousands) Land $ 7,357 6,668 Office buildings and improvements 32,473 30,587 Furniture and equipment 13,518 13,585 53,348 50,840 Less accumulated depreciation (28,824 ) (27,899 ) $ 24,524 22,941 Depreciation of premises and equipment totaled $2.3 million, $2.1 million and $2.6 million for the years ended December 31, 2018, 2017 and 2016, respectively. The Company and certain subsidiaries are obligated under non-cancelable operating leases for other facilities and equipment. Rent and equipment lease expense totaled $5.2 million, $4.8 million and $4.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. The appropriate minimum annual commitments under all non-cancelable lease agreements as of December 31, 2018 are as follows: Operating leases (In Thousands) Within one year $ 3,454 One to two years 2,598 Two to three years 1,626 Three to four years 1,021 Four through five years 792 After five years 914 Total $ 10,405

Real Estate Owned

Real Estate Owned	12 Months Ended
	Dec. 31, 2018
Real Estate Owned [Abstract]
Real Estate Owned [Text Block]	5) Real Estate Owned Real estate owned is summarized as follows: December 31, 2018 2017 (In Thousands) One- to four-family $ 163 1,330 Multi-family - - Construction and land 3,327 4,582 Commercial real estate 300 300 Total 3,790 6,212 Valuation allowance at end of period (1,638 ) (1,654 ) Total real estate owned, net $ 2,152 4,558 The following table presents the activity in real estate owned: Year Ended December 31, 2018 2017 (In Thousands) Real estate owned at beginning of period $ 4,558 6,118 Transferred in from loans receivable 545 2,171 Sales (2,642 ) (3,213 ) Write downs (309 ) (514 ) Other activity - (4 ) Real estate owned at end of period $ 2,152 4,558 Residential one- to four-family mortgage loans that were in the process of foreclosure were $2.2 million and $2.3 million at December 31, 2018 and December 31, 2017, respectively.

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2018
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights	6) Mortgage Servicing Rights The following table presents the activity related to the Company’s mortgage servicing rights: Year ended December 31, 2018 2017 (In Thousands) Mortgage servicing rights at beginning of the period $ 888 $ 2,260 Additions 427 998 Amortization (191 ) (106 ) Sales (1,015 ) (2,264 ) Mortgage servicing rights at end of the period 109 888 Valuation allowance at end of period - - Mortgage servicing rights at the end of the period, net $ 109 $ 888 During the year ended December 31, 2018, on a consolidated basis, $2.51 billion in residential loans were originated for sale, which excludes the loans originated from Waterstone Mortgage Corporation and purchased by WaterStone Bank. During the same period, sales of loans held for sale totaled $2.52 billion, generating mortgage banking income of $113.2 million. The unpaid principal balance of loans serviced for others was $14.1 million and $126.3 million at December 31, 2018 and December 31, 2017 respectively. These loans are not reflected in the consolidated statements of financial condition. During the year ended December 31, 2018, the Company sold mortgage servicing rights related to $148.7 million in loans receivable and with a book value of $1.0 million for $1.4 million resulting in a gain on sale of $417,000. During the year ended December 31, 2017, the Company sold mortgage servicing rights related to $295.1 million in loans receivable and with a book value of $2.3 million for $2.5 million resulting in a gain on sale of $178,000. The following table shows the estimated future amortization expense for mortgage servicing rights at December 31, 2018 for the periods indicated: (In Thousands) Estimate for the years ended December 31: 2019 $ 25 2020 21 2021 18 2022 15 2023 12 Thereafter 18 Total $ 109

Deposits

Deposits	12 Months Ended
	Dec. 31, 2018
Deposits [Abstract]
Deposits	7) Deposits The aggregate amount of time deposit accounts with balances greater than $250,000 at December 31, 2018 and 2017 amounted to $60.1 million and $45.9 million, respectively. A summary of interest expense on deposits is as follows: Years ended December 31, 2018 2017 2016 (In Thousands) Interest-bearing demand deposits $ 33 28 19 Money market and savings deposits 599 401 392 Time deposits 10,995 7,310 6,953 $ 11,627 7,739 7,364 A summary of the contractual maturities of time deposits at December 31, 2018 is as follows: (In Thousands) Within one year $ 472,540 One to two years 238,524 Two to three years 21,573 Three to four years 2,245 Four through five years 991 $ 735,873

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2018
Borrowings [Abstract]
Borrowings	8) Borrowings Borrowings consist of the following: December 31, 2018 December 31, 2017 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreements $ 5,046 5.39 % 11,285 4.32 % Federal Home Loan Bank, Chicago advances - - 35,000 1.28 % Long term: Federal Home Loan Bank advances maturing: 2018 - - 65,000 2.97 % 2021 - - 100,000 0.78 % 2027 175,000 1.38 % 175,000 1.38 % 2028 255,000 2.37 % - - $ 435,046 2.01 % 386,285 1.57 % The short-term repurchase agreements represents the outstanding portion of a total $35.0 million commitment with one unrelated bank. The short-term repurchase agreement is utilized by Waterstone Mortgage Corporation to finance loans originated for sale. This agreement is secured by the underlying loans being financed. Related interest rates are based upon the note rate associated with the loans being financed. The short-term repurchase agreement had a $5.0 million balance on a total commitment of $35.0 million at December 31, 2018. The $175.0 million in advances due in 2027 consists of one $50.0 million advance with a fixed rate of 1.24% with a FHLB single call option in May 2019, one $50.0 million advance with a fixed rate of 1.23% with a FHLB single call option in June 2019, one $25.0 million advance with a fixed rate of 1.23% with a FHLB single call option in August 2019, and one $50.0 million advance with a fixed rate of 1.73% with a FHLB single call option in December 2019. The $255.0 million in advances due in 2028 consists of one $25.0 million advance with a fixed rate of 2.16% with a FHLB single call option in March 2020, two advances totaling $55.0 million with a fixed rate of 2.27% and with a FHLB single call option in March 2021, one advance of $25.0 million with a fixed rate of 2.40% and with a FHLB single call option in May 2020, two advances totaling $50.0 million with fixed rates of 2.34% and 2.48% and with a FHLB single call option in May 2021, one advance of $50.0 million with a fixed rate of 2.34% and with a FHLB quarterly call option beginning in June 2020, and one advance of $50.0 million with a fixed rate of 2.57% and with a FHLB quarterly call option beginning in September 2020. The Company selects loans that meet underwriting criteria established by the Federal Home Loan Bank Chicago (FHLBC) as collateral for outstanding advances. The Company’s borrowings at the FHLBC are limited to 80% of the carrying value of unencumbered one- to four-family mortgage loans, 64% of the carrying value of home equity loans and 75% of the carrying value of over four-family loans. In addition, these advances are collateralized by FHLBC stock of $19.4 million at December 31, 2018 and $16.9 million at December 31, 2017. In the event of prepayment, the Company is obligated to pay all remaining contractual interest on the advance.

Regulatory Capital

Regulatory Capital	12 Months Ended
	Dec. 31, 2018
Regulatory Capital [Abstract]
Regulatory Capital	9) Regulatory Capital The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements, or overall financial performance deemed by the regulators to be inadequate, can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial condition and results of operations. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Company's and Bank’s assets, liabilities, and certain off-balance-sheet items, as calculated under regulatory accounting practices. The Company's and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Federal Reserve Board and the FDIC issued final rules implementing the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act changes. The rules revise minimum capital requirements and adjust prompt corrective action thresholds. The final rules revised the regulatory capital elements, added a new common equity Tier I capital ratio, increased the minimum Tier 1 capital ratio requirements and implemented a new capital conservation buffer. The rules also permitted certain banking organizations to retain, through a one-time election, the existing treatment for accumulated other comprehensive income. The Company and the Bank have made the election to retain the existing treatment for accumulated other comprehensive income. The final rules took effect for the Company and the Bank on January 1, 2015, subject to a transition period for certain parts of the rules. In addition, as a result of the legislation, the federal banking agencies are required to develop a "Community Bank Leverage Ratio" (the ratio of a bank's tangible equity capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A "qualifying community bank" that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered "well capitalized" under Prompt Corrective Action statutes. The federal banking agencies may consider a financial institution's risk profile when evaluating whether it qualifies as a community bank for purposes of the capital ratio requirement. The federal banking agencies must set the minimum capital for the new Community Bank Leverage Ratio at not less than 8% and not more than 10%. A financial institution can elect to be subject to this new definition. The table below includes the new regulatory capital ratio requirements that became effective on January 1, 2015. Beginning in 2016, an additional capital conservation buffer was added to the minimum requirements for capital adequacy purposes, subject to a three year phase-in period. The capital conservation buffer will be fully phased-in on January 1, 2019 at 2.5%. A banking organization with a conservation buffer of less than 2.5% (or the required phase-in amount in years prior to 2019) will be subject to limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. At December 31, 2018, the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer. The actual and required capital amounts and ratios as of December 31, 2018 and 2017 are presented in the table below: December 31, 2018 Actual For Capital Adequacy Purposes Minimum Capital Adequacy with Capital Buffer To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 414,566 28.22 % 117,506 8.00 % 145,046 9.880 % N/A N/A WaterStone Bank 395,783 26.95 % 117,490 8.00 % 145,027 9.880 % 146,863 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 401,317 27.32 % 88,130 6.00 % 115,670 7.880 % N/A N/A WaterStone Bank 382,534 26.05 % 88,118 6.00 % 115,655 7.880 % 117,490 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 401,317 27.32 % 66,097 4.50 % 93,638 6.380 % N/A N/A WaterStone Bank 382,534 26.05 % 66,088 4.50 % 93,625 6.380 % 95,461 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 401,317 21.06 % 76,214 4.00 % N/A N/A N/A N/A WaterStone Bank 382,534 20.08 % 76,214 4.00 % N/A N/A 95,268 5.00 % State of Wisconsin (to total assets) WaterStone Bank 382,534 20.01 % 114,712 6.00 % N/A N/A N/A N/A December 31, 2017 (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 426,057 30.75 % 110,829 8.00 % 128,146 9.25 % N/A N/A WaterStone Bank 400,792 28.93 % 110,812 8.00 % 128,127 9.25 % 138,515 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 411,980 29.74 % 83,122 6.00 % 100,439 7.25 % N/A N/A WaterStone Bank 386,715 27.92 % 83,109 6.00 % 100,424 7.25 % 110,812 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 411,980 29.74 % 62,341 4.50 % 79,658 5.75 % N/A N/A WaterStone Bank 386,715 27.92 % 62,332 4.50 % 79,646 5.75 % 90,035 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 411,980 22.43 % 73,481 4.00 % N/A N/A N/A N/A WaterStone Bank 386,715 21.10 % 73,304 4.00 % N/A N/A 91,630 5.00 % State of Wisconsin (to total assets) WaterStone Bank 386,715 21.44 % 108,243 6.00 % N/A N/A N/A N/A

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2018
Stock Based Compensation [Abstract]
Stock Based Compensation	10) Stock Based Compensation Stock-Based Compensation Plan In 2006, the Company’s shareholders approved the 2006 Equity Incentive Plan. All stock awards granted under this plan vest over a period of five years and are required to be settled in shares of the Company’s common stock. The exercise price for all stock options granted is equal to the quoted NASDAQ market closing price on the date that the awards were granted and expire ten years after the grant date, if not exercised. All restricted stock grants are issued from previously unissued shares. In 2015, the Company's shareholders approved the 2015 Equity Incentive Plan. A total of 2,530,000 stock options and 1,012,000 restricted shares were approved for award. A total of 1,317,000 stock options and 466,000 restricted stock are available to be issued as of December 31, 2018. The stock options granted to employees under this plan typically vest over a period of five years. The stock option awards granted to directors under this plan vest over a period of eight years. The exercise price for all stock options granted is equal to the quoted NASDAQ market close price on the date that the awards were granted and expire ten years after the grant date, if not exercised. The restricted stock awards granted to employees under this plan vest in five installments over four years with one installment vesting immediately. The stock awards granted to directors under this plan vest in eight installments over seven years with one installment vesting immediately. The fair value of the restricted stock awards were equal to the quoted NASDAQ market closing price on the vest date. Accounting for Stock-Based Compensation Plan The fair value of stock options granted is estimated on the grant date using a Black-Scholes pricing model. The fair value of restricted shares is equal to the quoted NASDAQ market closing price on the date of grant. The fair value of stock grants is recognized as compensation expense on a straight-line basis over the vesting period of the grants. Compensation expense is included in compensation, payroll taxes and other employee benefits in the consolidated statements of income. Assumptions are used in estimating the fair value of stock options granted. The weighted average expected life of the stock options represent the period of time that the options are expected to be outstanding and is based on the historical results from the previous awards. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected volatility is based on the actual volatility of Waterstone Financial, Inc. stock for the weighted average life time period prior to issuance date. The following assumptions were used in estimating the fair value of options granted in the years ended December 31, 2018 and 2017. 2018 2017 Minimum Maximum Minimum Maximum Dividend Yield 2.70 % 2.74 % 2.48 % 2.71 % Risk-free interest rate 2.57 % 2.96 % 1.80 % 1.93 % Expected volatility 16.27 % 30.88 % 27.79 % 32.54 % Weighted average expected life 5.4 6.2 5.3 5.5 Weighted average per share value of options $ 1.97 4.26 4.01 4.63 The Company adjusts compensation expense at time of actual stock grant forfeiture. A summary of the Company’s stock option activity for the years ended December 31, 2018, 2017 and 2016 is presented below. Stock Options Shares Weighted Average Exercise Price Weighted Average Years Remaining in Contractual Term Aggregate Intrinsic Value (000's) Outstanding December 31, 2015 2,103,047 $ 12.90 6.15 2,533 Options exercisable at December 31, 2015 810,255 14.25 1.63 (123 ) Granted 55,000 15.54 151 Exercised (736,548 ) 15.04 2,388 Forfeited (59,000 ) 13.15 303 Outstanding December 31, 2016 1,362,499 11.83 7.74 8,785 Options exercisable at December 31, 2016 304,595 9.66 6.44 2,625 Granted 20,000 18.78 (35 ) Exercised (211,205 ) 6.48 2,233 Forfeited (12,195 ) 14.83 27 Outstanding December 31, 2017 1,159,099 12.89 7.24 4,870 Options exercisable at December 31, 2017 331,097 12.53 7.10 1,501 Granted 80,000 17.23 3 Exercised (106,030 ) 12.30 473 Forfeited (72,000 ) 13.97 224 Outstanding December 31, 2018 1,061,069 13.21 6.47 3,850 Options exercisable at December 31, 2018 421,068 12.78 6.23 1,688 The following table summarizes information about the Company's stock options outstanding at December 31, 2018. Options Outstanding Weighted Average Exercise Price Remaining Life (Years) Options Exercisable Weighted Average Exercise Price Remaining Life (Years) Range of Exercise Prices $ 0.01 - $5.00 4,237 $ 1.73 3.01 4,237 $ 1.73 3.01 $ 5.01 - $10.00 - - - - - - $ 10.01 - $15.00 956,832 12.82 6.22 408,831 12.82 6.22 Over $15.01 100,000 17.54 9.05 8,000 18.23 8.23 1,061,069 $ 13.21 6.47 421,068 $ 12.78 6.23 The following table summarizes information about the Company’s nonvested stock option activity for the years ended December 31, 2018 and 2017: Stock Options Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2016 1,057,904 $ 3.16 Granted 20,000 4.26 Vested (237,707 ) 2.87 Forfeited (12,195 ) 3.55 Nonvested at December 31, 2017 828,002 3.27 Nonvested at December 31, 2017 828,002 3.27 Granted 80,000 3.66 Vested (200,001 ) 3.27 Forfeited (68,000 ) 3.46 Nonvested at December 31, 2018 640,001 3.30 The Company amortizes the expense related to stock options as compensation expense over the vesting period. During the year ended December 31, 2018, 80,000 options were granted, 72,000 were forfeited, of which 4,000 were vested. During the year ended December 31, 2017, 20,000 options were granted, 12,195 were forfeited, of which none were vested. During the year ended December 31, 2016, 55,000 options were granted and 59,000 were forfeited, of which none were vested. Expense for the stock options granted of $608,000, $638,000 and $641,000 was recognized during the years ended December 31, 2018, 2017 and 2016, respectively. At December 31, 2018, the Company had $1.7 million in estimated unrecognized compensation costs related to outstanding stock options that is expected to be recognized over a weighted average period of 27 months. The following table summarizes information about the Company’s restricted stock shares activity for the years ended December 31, 2018 and 2017: Restricted Stock Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2016 378,762 $ 12.39 Granted - - Vested (119,562 ) 11.39 Forfeited - - Nonvested at December 31, 2017 259,200 12.85 Nonvested at December 31, 2017 259,200 12.85 Granted - - Vested (93,100 ) 12.84 Forfeited (3,500 ) 12.75 Nonvested at December 31, 2018 162,600 12.85 The Company amortizes the expense related to restricted stock awards as compensation expense over the vesting period. During the year ended December 31, 2018, no shares of restricted stock were granted and 3,500 shares were forfeited. During the year ended December 31, 2017, no shares of restricted stock were granted and no shares were forfeited. Expense for the restricted stock awards of $1.2 million, $1.3 million and $1.3 million was recorded for the years ended December 31, 2018, 2017 and 2016, respectively. At December 31, 2018, the Company had $1.1 million of unrecognized compensation expense related to restricted stock shares that is expected to be recognized over a weighted average period of 32 months.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Employee Benefit Plans [Abstract]
Employee Benefit Plans	11) Employee Benefit Plans The Company has two 401(k) profit sharing plans and trusts covering substantially all employees. WaterStone Bank employees over 18 years of age are immediately eligible to participate in the Bank’s plan. Waterstone Mortgage employees over 18 years of age are eligible to participate in its plan as of the first of the month following their date of employment. Participating employees may annually contribute pretax compensation in accordance with IRS limits. The Company made matching contributions of $971,000, $825,000 and $759,000 to the plans during the years ended December 31, 2018, 2017 and 2016 respectively.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2018
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	12) Employee Stock Ownership Plan All employees are eligible to participate in the WaterStone Bank Employee Stock Ownership Plan (the “Plan”) after they attain twenty one years of age and complete twelve consecutive months of service in which they work at least 1,000 hours of service. The Plan debt is secured by shares of the Company. The Company has committed to make annual contributions to the Plan necessary to repay the loan, including interest. During the year ended December 31, 2014, the Plan borrowed an additional $23.8 million from the Company, refinanced the remaining 83,561 shares (related to the 2005 Plan purchase), and purchased an additional 2,024,000 shares of common stock of the Company in the open market. While the shares are not released and allocated to Plan participants until the loan payment is made, the shares are deemed to be earned and are therefore, committed to be released throughout the service period. As such, one-twentieth of the total 2,107,561 shares are scheduled to be released annually as shares are earned over a period of twenty years, beginning with the period ended December 31, 2014. As the debt is repaid, shares are released from collateral and allocated to active participant accounts. The shares pledged as collateral are reported as “Unearned ESOP shares” in the consolidated statement of financial condition. As shares are committed to be released from collateral, the Company reports compensation expense equal to the average fair market price of the shares, and the shares become outstanding for earnings per share computations. Compensation expense attributed to the ESOP was $1.8 million, $2.0 million and $1.6 million, respectively for the years ended December 31, 2018, 2017 and 2016. The aggregate activity in the number of unearned ESOP shares, considering the allocation of those shares committed to be released as of December 31, 2018 and 2017 is as follows: 2018 2017 Beginning ESOP shares 1,686,049 1,791,427 Shares committed to be released (105,378 ) (105,378 ) Unreleased shares 1,580,671 1,686,049 Fair value of unreleased shares (in millions) $ 26.5 28.7

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes [Abstract]
Income Taxes	13) Income Taxes The provision for income taxes for the year ended December 31, 2018, 2017 and 2016 consists of the following: Years ended December 31, 2018 2017 2016 (In Thousands) Current: Federal $ 7,087 13,028 12,255 State 1,904 2,362 2,643 8,991 15,390 14,898 Deferred: Federal 452 2,960 1,084 State 83 119 480 535 3,079 1,564 Total $ 9,526 18,469 16,462 The income tax provisions differ from that computed at the Federal statutory corporate tax rate for the years ended December 31, 2018, 2017 and 2016 as follows: Years ended December 31, 2018 2017 2016 (Dollars In Thousands) Income before income taxes $ 40,280 44,433 41,994 Tax at Federal statutory rate (21% in 2018, 35% in 2017 and 2016) 8,459 15,552 14,698 Add (deduct) effect of: State income taxes net of Federal income tax benefit 1,570 1,613 2,030 Cash surrender value of life insurance (388 ) (632 ) (619 ) Non-deductible ESOP and stock option expense 188 380 268 Tax-exempt interest income (248 ) (449 ) (529 ) Non-deductible compensation 177 280 254 Stock option write off - - 773 Deferred tax asset revaluation - 2,644 - Stock compensation (160 ) (1,074 ) (517 ) Other (72 ) 155 104 Income tax provision 9,526 18,469 16,462 Effective tax rate 23.6 % 41.6 % 39.2 % The significant components of the Company’s net deferred tax assets (liabilities) included in prepaid expenses and other assets are as follows at December 31, 2018 and 2017: December 31, 2018 2017 Gross deferred tax assets: (In Thousands) Fixed assets $ - 480 Restricted stock and stock options 526 466 Allowance for loan losses 3,239 3,451 Repurchase reserve for loans sold 139 159 Real estate owned 741 993 Nonaccrual interest 292 305 Capital loss carryforward 23 - Unrealized loss on impaired securities 23 23 Unrealized loss on securities available for sale, net 695 - Other 98 192 Total gross deferred tax assets 5,776 6,069 Gross deferred tax liabilities: Excess tax depreciation (28 ) - Unrealized gain on securities available for sale, net - (11 ) Mortgage servicing rights (29 ) (119 ) FHLB stock (68 ) (232 ) Deferred loan fees (475 ) (703 ) Deferred liabilities (600 ) (1,065 ) Net deferred tax assets $ 5,176 5,004 The Company had a Wisconsin net operating loss carry forward of $24,000 at December 31, 2018 which will begin to expire in 2028. The Company has no capital loss carryforwards as of December 31, 2017. Under the Internal Revenue Code and Wisconsin Statutes, the Company was permitted to deduct, for tax years beginning before 1988, an annual addition to a reserve for bad debts. This amount differs from the provision for loan losses recorded for financial accounting purposes. Under prior law, bad debt deductions for income tax purposes were included in taxable income of later years only if the bad debt reserves were used for purposes other than to absorb bad debt losses. Because the Company did not intend to use the reserve for purposes other than to absorb losses, no deferred income taxes were provided. Retained earnings at December 31, 2018 include approximately $16.7 million for which no deferred Federal or state income taxes were provided. Deferred income taxes have been provided on certain additions to the tax reserve for bad debts. The Company and its subsidiaries file consolidated federal and combined state tax returns. One subsidiary also files separate state income tax returns in certain states. The Company is no longer subject to state income tax examinations by certain state tax authorities for years before 2014 or subject to federal tax examinations for the years before 2015. As a result of the Tax Cuts and Jobs Act that was enacted into law on December 22, 2017, the Company revalued its net deferred tax asset to reflect the reduction in its federal corporate income tax rate from 35% to 21%. This revaluation resulted in a one-time income tax expense of approximately $2.7 million during the fourth quarter of 2017.

Offsetting of Assets and Liabil

Offsetting of Assets and Liabilities	12 Months Ended
	Dec. 31, 2018
Offsetting of Assets and Liabilities [Abstract]
Offsetting of Assets and Liabilities	14) Offsetting of Assets and Liabilities The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. In addition, the Company enters into agreements under which it sells loans held for sale subject to an obligation to repurchase the same loans. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of assets. The obligation to repurchase the assets is reflected as a liability in the Company's consolidated statements of condition, while the securities and loans held for sale underlying the repurchase agreements remain in the respective investment securities and loans held for sale asset accounts. In other words, there is no offsetting or netting of the investment securities or loans held for sale assets with the repurchase agreement liabilities. The Company's repurchase agreements are subject to master netting agreements, which sets forth the rights and obligations for repurchase and offset. Under the master netting agreement, the Company is entitled to set off the collateral placed with a single counterparty against obligations owed to that counterparty. The following table presents the liabilities subject to an enforceable master netting agreement as of December 31, 2018 and December 31, 2017. Gross Recognized Liabilities Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount (In thousands) December 31, 2018 Repurchase Agreements Short-term $ 5,046 - 5,046 5,046 - $ 5,046 - 5,046 5,046 - December 31, 2017 Repurchase Agreements Short-term $ 11,285 - 11,285 11,285 - $ 11,285 - 11,285 11,285 -

Commitments, Off-Balance Sheet

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	12 Months Ended
	Dec. 31, 2018
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities [Abstract]
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	15) Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. December 31, 2018 2017 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under first mortgage loans (1) $ 33,762 31,543 Commitments to extend credit under home equity lines of credit 14,903 14,972 Unused portion of construction loans 79,776 17,097 Unused portion of business lines of credit 16,778 16,878 Standby letters of credit 860 259 (1) Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements of the Company. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counter-party. Collateral obtained generally consists of mortgages on the underlying real estate. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company holds mortgages on the underlying real estate as collateral supporting those commitments for which collateral is deemed necessary. The Company has determined that there are no probable losses related to commitments to extend credit or the standby letters of credit as of December 31, 2018 and 2017. In the normal course of business, the Company, or it's subsidiaries are involved in various legal proceedings. In the opinion of management, any liability resulting from pending proceedings would not be expected to have a material adverse effect on the Company's consolidated financial statements. Herrington et al. v. Waterstone Mortgage Corporation Waterstone Mortgage Corporation is a defendant in a class action lawsuit that was filed in the United States District Court for the Western District of Wisconsin and subsequently compelled to arbitration before the American Arbitration Association. The plaintiff class alleged that Waterstone Mortgage Corporation violated certain provisions of the Fair Labor Standards Act (FLSA) and failed to pay loan officers consistent with their employment agreements. On July 5, 2017, the arbitrator issued a Final Award finding Waterstone Mortgage Corporation liable for unpaid minimum wages, overtime, unreimbursed business expenses, and liquidated damages under the FLSA. On December 8, 2017, the District Court confirmed the award in large part, and entered a judgment against Waterstone in the amount of $7,267,919 in damages to Claimants, $3,298,851 in attorney fees and costs, and a $20,000 incentive fee to Plaintiff Herrington, plus post-judgment interest. On February 12, 2018, the District Court awarded post-arbitration fees and costs of approximately $98,000. The judgment was appealed by Waterstone to the Seventh Circuit Court of Appeals, where oral argument was held on May 29, 2018. On October 22, 2018, the Seventh Circuit issued a ruling vacating the District Court's order enforcing the arbitration award. If the District Court determines the agreement only allows for individual arbitration, the award would be vacated and the case sent to individual arbitration for a new proceeding. If the District Court determines the arbitration agreement nevertheless allows for collective arbitration, the District Court could confirm the prior award. On December 28, 2018, Plaintiff filed her post-remand brief. In it, Plaintiff asks the Court to reaffirm the arbitration award entered by Arbitrator Pratt in full. Alternatively, she asked the Court to affirm her individual damage award and the awards of 123 other opt-ins whose arbitration agreements permit joinder or class actions. Lastly, Plaintiff asked the Court to have 154 opt-ins intervene and file an amended complaint for individual relief in court. Waterstone opposed the motion on January 28, 2019, and asked the Court to vacate the prior Final Award in full because Herrington’s arbitration agreement only allows for individual arbitration. Plaintiff filed its reply on February 14, 2019. If the judgment is upheld in full, the Company has estimated that the award, which includes attorney's fees, costs, and interest, could be as high as $11 million. However, Waterstone has meaningful appellate rights and intends to vigorously defend its interests in this matter, including arguing for complete reversal on appeal. Although the Company believes there is a strong basis to vacate the award, there remains a reasonable possibility that the Court's judgment will be affirmed in whole or in part, with the possible range of loss from $0 to $11 million. We do not believe that the loss is probable at this time, as that term is used in assessing loss contingencies. Accordingly, in accordance with the authoritative guidance in the evaluation of contingencies, the Company has not recorded an accrual related to this matter. Werner et al. v. Waterstone Mortgage Corporation Waterstone Mortgage Corporation is a defendant in a putative collection action lawsuit that was filed on August 4, 2017 in the United States District Court for the Western District of Wisconsin, Werner et al. v. Waterstone Mortgage Corporation. Plaintiffs allege that Waterstone Mortgage Corporation violated the Fair Labor Standards Act (FLSA) by failing to pay loan officers minimum and overtime wages. On October 26, 2017, Plaintiffs moved for conditional certification and to provide notice to the putative class. On February 9, 2018, the Court denied Plaintiffs' motion for conditional certification and notice. On July 23, 2018, Waterstone filed a motion for partial summary judgment on the claims. It sought to (1) dismiss the time-barred claims of 4 opt-ins and (2) dismiss all other opt-ins due to the denial of conditional certification. In response, all but Werner and Wiesneski filed motions to withdraw their consents to join the case. The Court denied the summary judgment motion on the basis that it was moot due to the opt-in plaintiffs voluntarily dismissing their case. On October 17, 2018, Werner and Wiesneski asked the Court to send their claims to arbitration. On December 13, 2018, the Court denied the request, finding they had waived their right to arbitrate based on litigating the case in Court for over a year. Thus, the case remained in Court as a two-Plaintiff case. As of February 2019, the parties have reached a settlement in principle to resolve the claims. The amount of the settlement would not have a material impact to the financial statements. The parties are working on finalizing the terms of settlement.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2018
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	16) Derivative Financial Instruments In connection with its mortgage banking activities, the Company enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Mortgage banking derivatives include interest rate lock commitments provided to customers to fund mortgage loans to be sold in the secondary market and forward commitments for the future delivery of such loans. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company’s mortgage banking derivatives have not been designated as being a hedge relationship. These instruments are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company does not use derivatives for speculative purposes. Forward commitments to sell mortgage loans represent commitments obtained by the Company from a secondary market agency to purchase mortgages from the Company at specified interest rates and within specified periods of time. Commitments to sell loans are made to mitigate interest rate risk on interest rate lock commitments to originate loans and loans held for sale. At December 31, 2018, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $276.3 million and interest rate lock commitments with an aggregate notional amount of approximately $164.9 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2018 included a loss of $1.1 million that is reported as a component of other liabilities on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2018 included a gain of $2.0 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. In determining the fair value of its derivative loan commitments, the Company considers the value that would be generated when the loan arising from exercise of the loan commitment is sold in the secondary mortgage market. That value includes the price that the loan is expected to be sold for in the secondary mortgage market. The fair value of these commitments is recorded on the consolidated statements of financial condition with the changes in fair value recorded as a component of mortgage banking income. Residential mortgage loans sold to others are predominantly conventional residential first lien mortgages. The Company's agreements to sell residential mortgage loans in the normal course of business usually require certain representations and warranties on the underlying loans sold related to credit information, loan documentation and collateral, which if subsequently are untrue or breached, could require the Company to repurchase certain loans affected. The Company has only been required to make insignificant repurchases as a result of breaches of representations and warranties. The Company's agreements to sell residential mortgage loans also contain limited recourse provisions. The recourse provisions are limited in that the recourse provision ends after certain payment criteria have been met. With respect to these loans, repurchase could be required if defined delinquency issues arose during the limited recourse period. Given that the underlying loans delivered to buyers are predominantly conventional first lien mortgages and that historical experience shows negligible losses and insignificant repurchase activity, management believes that losses and repurchases under the limited recourse provisions will continue to be insignificant.

Fair Values Measurements

Fair Values Measurements	12 Months Ended
	Dec. 31, 2018
Fair Values Measurements [Abstract]
Fair Values Measurements	17) Fair Values Measurements ASC Topic 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This accounting standard applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements. The standard also emphasizes that fair value (i.e., the price that would be received in an orderly transaction that is not a forced liquidation or distressed sale at the measurement date), among other things, is based on exit price versus entry price, should include assumptions about risk such as nonperformance risk in liability fair values, and is a market-based measurement, not an entity-specific measurement. When considering the assumptions that market participants would use in pricing the asset or liability, this accounting standard establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The fair value hierarchy prioritizes inputs used to measure fair value into three broad levels. Level 1 inputs Level 2 inputs Level 3 inputs In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2018 and December 31, 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2018 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 41,631 - 41,631 - Collateralized mortgage obligations Government sponsored enterprise issued 74,955 - 74,955 - Municipal securities 55,948 - 55,948 - Other debt securities 13,186 - 13,186 - Loans held for sale 141,616 - 141,616 - Mortgage banking derivative assets 2,014 - - 2,014 Mortgage banking derivative liabilities 1,116 - - 1,116 Fair Value Measurements Using December 31, 2017 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 57,435 - 57,435 - Collateralized mortgage obligations Government sponsored enterprise issued 60,500 - 60,500 - Government sponsored enterprise bonds 2,497 - 2,497 - Municipal securities 63,769 - 63,769 - Other debt securities 14,525 - 14,525 - Certificates of deposit 981 - 981 - Loans held for sale 149,896 - 149,896 - Mortgage banking derivative assets 2,004 - - 2,004 Mortgage banking derivative liabilities - - - - The following summarizes the valuation techniques for assets recorded in our consolidated statements of financial condition at their fair value on a recurring basis: Available for sale securities – The Company's investment securities classified as available for sale include: mortgage-backed securities, collateralized mortgage obligations, government sponsored enterprise bonds, municipal securities and other debt securities. The fair value of mortgage-backed securities, collateralized mortgage obligations and government sponsored enterprise bonds are determined by a third party valuation source using observable market data utilizing a matrix or multi-dimensional relational pricing model. Standard inputs to these models include observable market data such as benchmark yields, reported trades, broker quotes, issuer spreads, benchmark securities, prepayment models and bid/offer market data. For securities with an early redemption feature, an option adjusted spread model is utilized to adjust the issuer spread. These model and matrix measurements are classified as Level 2 in the fair value hierarchy. The fair value of municipal and other debt securities is determined by a third party valuation source using observable market data utilizing a multi-dimensional relational pricing model. Standard inputs to this model include observable market data such as benchmark yields, reported trades, broker quotes, rating updates and issuer spreads. These model measurements are classified as Level 2 in the fair value hierarchy. The change in fair value is recorded through an adjustment to the statement of comprehensive income. Loans held for sale – The Company carries loans held for sale at fair value under the fair value option model. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the secondary market, principally from observable prices for forward sale commitments. Loans held-for-sale are considered to be Level 2 in the fair value hierarchy of valuation techniques. The change in fair value is recorded through an adjustment to the statement of income. Mortgage banking derivatives - Mortgage banking derivatives include interest rate lock commitments to originate residential loans held for sale to individual customers and forward commitments to sell residential mortgage loans to various investors. The Company utilizes a valuation model to estimate the fair value of its interest rate lock commitments to originate residential mortgage loans held for sale, which includes applying a pull through rate based upon historical experience and the current interest rate environment and then multiplying by quoted investor prices. The Company also utilizes a valuation model to estimate the fair value of its forward commitments to sell residential loans, which includes matching specific terms and maturities of the forward commitments against applicable investor pricing available. While there are Level 2 and 3 inputs used in the valuation models, the Company has determined that one or more of the inputs significant in the valuation of both of the mortgage banking derivatives fall within Level 3 of the fair value hierarchy. The change in fair value is recorded through an adjustment to the statement of income. The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2018 and 2017. Mortgage banking derivatives, net Balance at December 31, 2016 $ 3,334 Transfer into level 3 - Mortgage derivative gain, net (1,330 ) Balance at December 31, 2017 2,004 Transfer into level 3 - Mortgage derivative loss, net (1,106 ) Balance at December 31, 2018 $ 898 Assets Recorded at Fair Value on a Non-recurring Basis The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a non-recurring basis as of December 31, 2018 and December 31, 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2018 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 2,876 - - 2,876 Real estate owned 2,152 - - 2,152 Fair Value Measurements Using December 31, 2017 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 861 - - 861 Real estate owned 4,558 - - 4,558 _________ (1) Loans – We do not record loans at fair value on a recurring basis. On a non-recurring basis, loans determined to be impaired are analyzed to determine whether a collateral shortfall exists, and if such a shortfall exists, are recorded on our consolidated statements of financial condition at net realizable value of the underlying collateral. Fair value is determined based on third party appraisals. Appraised values are adjusted to consider disposition costs and also to take into consideration the age of the most recent appraisal. Given the significance of the adjustments made to appraised values necessary to estimate the fair value of impaired loans, loans that have been deemed to be impaired are considered to be Level 3 in the fair value hierarchy of valuation techniques. At December 31, 2018, loans determined to be impaired with an outstanding balance of $3.1 million were carried net of specific reserves of $186,000 for a fair value of $2,876,000. At December 31, 2017, loans determined to be impaired with an outstanding balance of $1.0 million were carried net of specific reserves of $155,000 for a fair value of $861,000. Impaired loans collateralized by assets which are valued in excess of the net investment in the loan do not require any specific reserves. Real estate owned – On a non-recurring basis, real estate owned, is recorded in our consolidated statements of financial condition at the lower of cost or fair value. Fair value is determined based on third party appraisals and, if less than the carrying value of the foreclosed loan, the carrying value of the real estate owned is adjusted to the fair value. Appraised values are adjusted to consider disposition costs and also to take into consideration the age of the most recent appraisal. Given the significance of the adjustments made to appraised values necessary to estimate the fair value of the properties, real estate owned is considered to be Level 3 in the fair value hierarchy of valuation techniques. Changes in the fair value of real estate owned totaled $309,000 and $514,000 during the year ended December 31, 2018 and 2017, respectively and are recorded in real estate owned expense. At December 31, 2018 and December 31, 2017, real estate owned totaled $2.2 million and $4.6 million, respectively. Mortgage servicing rights - The Company utilizes an independent valuation from a third party which uses a discounted cash flow model to estimate the fair value of mortgage servicing rights. The model utilizes prepayment assumptions to project cash flows related to the mortgage servicing rights based upon the current interest rate environment, which is then discounted to estimate an expected fair value of the mortgage servicing rights. The model considers characteristics specific to the underlying mortgage portfolio, such as: contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges and costs to service. Given the significance of the unobservable inputs utilized in the estimation process, mortgage servicing rights are classified as Level 3 within the fair value hierarchy. The Company records the mortgage servicing rights at the lower of amortized cost or fair value. For the purpose of measuring impairment, mortgage servicing rights are stratified based upon predominant risk characteristics of the underlying loans. At December 31, 2018 and December 31, 2017, there was no impairment identified for mortgage servicing rights. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Fair value information about financial instruments follows, whether or not recognized in the consolidated statements of financial condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. Certain financial instruments and all nonfinancial instruments are excluded from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying amounts and fair values of the Company’s financial instruments consist of the following at December 31, 2018 and December 31, 2017: December 31, 2018 December 31, 2017 Carrying amount Fair Value Carrying amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (In Thousands) Financial Assets Cash and cash equivalents $ 86,101 86,101 73,601 12,500 - 48,607 48,607 39,607 9,000 - Securities available-for-sale 185,720 185,720 - 185,720 - 199,707 199,707 - 199,707 - Loans held for sale 141,616 141,616 - 141,616 - 149,896 149,896 - 149,896 - Loans receivable 1,379,148 1,311,633 - - 1,311,633 1,291,814 1,291,142 - - 1,291,142 FHLB stock 19,350 19,350 - 19,350 - 16,875 16,875 - 16,875 - Accrued interest receivable 5,337 5,337 5,337 - - 4,924 4,924 4,924 - - Mortgage servicing rights 109 109 - - 109 888 1,125 - - 1,125 Mortgage banking derivative assets 2,014 2,014 - - 2,014 2,004 2,004 - - 2,004 Financial Liabilities Deposits 1,038,495 1,038,544 302,622 735,922 - 967,380 967,558 278,401 689,157 - Advance payments by borrowers for taxes 4,371 4,371 4,371 - - 4,876 4,876 4,876 - - Borrowings 435,046 432,269 - 432,269 - 386,285 384,348 - 384,348 - Accrued interest payable 1,395 1,395 1,395 - - 886 886 886 - - Mortgage banking derivative liabilities 1,116 1,116 - - 1,116 - - - - - The following methods and assumptions were used by the Company in determining its fair value disclosures for financial instruments. Cash and Cash Equivalents The carrying amount reported in the consolidated statements of financial condition for cash and cash equivalents is a reasonable estimate of fair value for these short-term instruments. Securities The fair value of securities is determined by a third party valuation source using observable market data utilizing a matrix or multi-dimensional relational pricing model. Standard inputs to these models include observable market data such as benchmark yields, reported trades, broker quotes, issuer spreads, benchmark securities and bid/offer market data. For securities with an early redemption feature, an option adjusted spread model is utilized to adjust the issuer spread. Prepayment models are used for mortgage related securities with prepayment features. Loans Held for Sale Fair value is estimated using the prices of the Company’s existing commitments to sell such loans and/or the quoted market price for commitments to sell similar loans. Loans Receivable The fair value estimation process for the loan portfolio uses an exit price concept and reflects discounts the Company believes are consistent with discounts in the market place. Fair values are estimated for portfolios of loans with similar characteristics. Loans are segregated by type such as one- to four-family, multi-family, home equity, construction and land, commercial real estate, commercial, and other consumer. The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for similar maturities. The fair value analysis also includes other assumptions to estimate fair value, intended to approximate those a market participant would use in an orderly transaction, with adjustments for discount rates, interest rates, liquidity, and credit spreads, as appropriate. FHLB Stock For FHLB stock, the carrying amount is the amount at which shares can be redeemed with the FHLB and is a reasonable estimate of fair value. Deposits and Advance Payments by Borrowers for Taxes The fair values for interest-bearing and noninterest-bearing negotiable order of withdrawal accounts, savings accounts, and money market accounts are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates of similar remaining maturities to a schedule of aggregated expected monthly maturities of the outstanding certificates of deposit. The advance payments by borrowers for taxes are equal to their carrying amounts at the reporting date. Borrowings Fair values for borrowings are estimated using a discounted cash flow calculation that applies current interest rates to estimated future cash flows of the borrowings. Accrued Interest Payable and Accrued Interest Receivable For accrued interest payable and accrued interest receivable, the carrying amount is a reasonable estimate of fair value. Commitments to Extend Credit and Standby Letters of Credit Commitments to extend credit and standby letters of credit are generally not marketable. Furthermore, interest rates on any amounts drawn under such commitments would be generally established at market rates at the time of the draw. Fair values for the Company's commitments to extend credit and standby letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements, the counterparty's credit standing, and discounted cash flow analyses. The fair value of the Company's commitments to extend credit was not material at December 31, 2018 and December 31, 2017. Mortgage Banking Derivative Assets and Liabilities Mortgage banking derivatives include interest rate lock commitments to originate residential loans held for sale to individual customers and forward commitments to sell residential mortgage loans to various investors. The Company relies on a valuation model to estimate the fair value of its interest rate lock commitments to originate residential mortgage loans held for sale, which includes applying a pull through rate based upon historical experience and the current interest rate environment, and then multiplying by quoted investor prices. The Company also relies on a valuation model to estimate the fair value of its forward commitments to sell residential loans, which includes matching specific terms and maturities of the forward commitments against applicable investor pricing available. On the Company's Consolidated Statements of Condition, instruments that have a positive fair value are included in prepaid expenses and other assets, and those instruments that have a negative fair value are included in other liabilities.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	18) Earnings Per Share Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. Presented below are the calculations for basic and diluted earnings per share: For the year ended December 31, 2018 2017 2016 (In Thousands, except per share amounts) Net income $ 30,754 25,964 25,532 Net income available to unvested restricted stockholders - - 15 Net income available to common stockholders $ 30,754 25,964 25,517 Weighted average shares outstanding 27,363 27,467 27,037 Effect of dilutive potential common shares 271 432 337 Diluted weighted average shares outstanding 27,634 27,899 27,374 Basic income per share $ 1.12 0.95 0.94 Diluted income per share $ 1.11 0.93 0.93

Condensed Parent Company Only S

Condensed Parent Company Only Statements	12 Months Ended
	Dec. 31, 2018
Condensed Parent Company Only Statements [Abstract]
Condensed Parent Company Only Statements	19) Condensed Parent Company Only Statements Statements of Financial Condition December 31, 2018 2017 (In Thousands) Assets Cash and cash equivalents $ 20,116 28,954 Investment in subsidiaries 380,897 386,838 Other assets 2,476 207 Total Assets $ 403,489 415,999 Liabilities and shareholders' equity Liabilities: Other liabilities $ 3,810 3,895 Shareholders' equity Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2018 and 2017, no shares issued - - Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2018 and in 2017, Issued - 28,463,239 in 2018 and 29,501,346 in 2017, Outstanding - 28,463,239 in 2018 and 29,501,346 in 2017 285 295 Additional paid-in-capital 330,327 326,655 Retained earnings 187,153 183,358 Unearned ESOP shares (17,804 ) (18,991 ) Cost of shares repurchased (7,171,537 in 2018 and 6,030,900 in 2017), at cost (97,921 ) (78,736 ) Accumulated other comprehensive loss (net of taxes) (2,361 ) (477 ) Total shareholders' equity 399,679 412,104 Total liabilities and shareholders' equity $ 403,489 415,999 Statements of Operations For the year ended December 31, 2018 2017 2016 (In Thousands) Interest income $ 656 675 716 Equity in income of subsidiaries (distributed and undistributed) 30,722 25,937 26,309 Total income 31,378 26,612 27,025 Compensation - - - Professional fees 37 57 34 Other expense 577 575 553 Total expense 614 632 587 Income before income tax expense 30,764 25,980 26,438 Income tax expense 10 16 906 Net income $ 30,754 25,964 25,532 Statements of Cash Flows For the year ended December 31, 2018 2017 2016 (In Thousands) Cash flows from operating activities Net income $ 30,754 25,964 25,532 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Amortization of unearned ESOP 1,796 1,956 1,633 Stock based compensation 1,760 1,902 1,913 Deferred income taxes - (58 ) 854 Equity in earnings of subsidiaries (30,722 ) (25,937 ) (26,309 ) Change in other assets and liabilities (4,019 ) 530 (2,031 ) Net cash (used in) provided by operating activities (431 ) 4,357 1,592 Net cash used in investing activities - - - Dividends received from subsidiary 36,535 14,698 12,783 Cash dividends on common stock (27,050 ) (26,952 ) (6,917 ) Proceeds from stock option exercises 1,304 1,052 3,556 Purchase of common stock returned to authorized but unissued (19,196 ) (2,190 ) (3,858 ) Net cash (used in) provided by financing activities (8,407 ) (13,392 ) 5,564 Net (decrease) increase in cash (8,838 ) (9,035 ) 7,156 Cash and cash equivalents at beginning of year 28,954 37,989 30,833 Cash and cash equivalents at end of year $ 20,116 28,954 37,989

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Reporting	20) Segment Reporting Selected financial and descriptive information is required to be provided about reportable operating segments, considering a "management approach" concept as the basis for identifying reportable segments. The management approach is based on the way that management organizes the segments within the enterprise for making operating decisions, allocating resources, and assessing performance. Consequently, the segments are evident from the structure of the enterprise's internal organization, focusing on financial information that an enterprise's chief operating decision-makers use to make decisions about the enterprise's operating matters. The Company has determined that it has two reportable segments: community banking and mortgage banking. The Company's operating segments are presented based on its management structure and management accounting practices. The structure and practices are specific to the Company and therefore, the financial results of the Company's business segments are not necessarily comparable with similar information for other financial institutions. Community Banking The Community Banking segment provides consumer and business banking products and services to customers primarily within Southeastern Wisconsin along with a loan production office in Minneapolis, Minnesota. Within this segment, the following products and services are provided: (1) lending solutions such as residential mortgages, home equity loans and lines of credit, personal and installment loans, real estate financing, business loans, and business lines of credit; (2) deposit and transactional solutions such as checking, credit, debit and pre-paid cards, online banking and bill pay, and money transfer services; (3) investable funds solutions such as savings, money market deposit accounts, IRA accounts, certificates of deposit, and (4) fixed and variable annuities, insurance as well as trust and investment management accounts. Consumer products include loan and deposit products: mortgage, home equity loans and lines, personal term loans, demand deposit accounts, interest bearing transaction accounts and time deposits. Consumer products also include personal investment services. Business banking products include secured and unsecured lines and term loans for working capital, inventory and general corporate use, commercial real estate construction loans, demand deposit accounts, interest bearing transaction accounts and time deposits. Mortgage Banking The Mortgage Banking segment provides residential mortgage loans for the primary purpose of sale in the secondary market. Mortgage banking products and services are provided by offices in 23 states with the ability to lend in 47 states. As of or for the Year ended December 31, 2018 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income (loss) $ 54,946 (850 ) 81 54,177 Provision (credit) for loan losses (1,150 ) 90 - (1,060 ) Net interest income (loss) after provision for loan losses 56,096 (940 ) 81 55,237 Noninterest income 4,299 115,429 (1,529 ) 118,199 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 18,385 79,982 (583 ) 97,784 Occupancy, office furniture, and equipment 3,307 7,548 - 10,855 Advertising 749 3,374 - 4,123 Data processing 1,671 1,105 16 2,792 Communications 425 1,186 - 1,611 Professional fees 967 1,343 17 2,327 Real estate owned 1 - - 1 Loan processing expense - 3,372 - 3,372 Other 2,715 8,522 (946 ) 10,291 Total noninterest expenses 28,220 106,432 (1,496 ) 133,156 Income before income taxes 32,175 8,057 48 40,280 Income taxes 7,273 2,243 10 9,526 Net income $ 24,902 5,814 38 30,754 Total Assets $ 1,913,647 166,926 (165,192 ) 1,915,381 As of or for the Year ended December 31, 2017 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 50,608 (49 ) 174 50,733 Provision (credit) for loan losses (1,300 ) 134 - (1,166 ) Net interest income after provision for loan losses 51,908 (183 ) 174 51,899 Noninterest income 3,942 122,091 (1,620 ) 124,413 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 17,495 80,077 (488 ) 97,084 Occupancy, office furniture and equipment 3,127 7,051 - 10,178 Advertising 627 2,706 - 3,333 Data processing 1,619 805 15 2,439 Communications 408 1,152 - 1,560 Professional fees 782 1,837 37 2,656 Real estate owned 379 - - 379 Loan processing expense - 3,062 - 3,062 Other 2,828 9,400 (1,040 ) 11,188 Total noninterest expenses 27,265 106,090 (1,476 ) 131,879 Income before income taxes 28,585 15,818 30 44,433 Income taxes 12,228 6,225 16 18,469 Net income $ 16,357 9,593 14 25,964 Total Assets $ 1,834,191 173,237 (201,027 ) 1,806,401 As of or for the Year ended December 31, 2016 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 42,940 216 288 43,444 Provision for loan losses 200 180 - 380 Net interest income after provision for loan losses 42,740 36 288 43,064 Noninterest income 4,619 122,842 (1,096 ) 126,365 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 17,192 78,288 (424 ) 95,056 Occupancy, office furniture and equipment 3,165 6,182 - 9,347 Advertising 581 2,162 - 2,743 Data processing 1,630 872 18 2,520 Communications 406 1,056 - 1,462 Professional fees 756 1,432 (53 ) 2,135 Real estate owned 399 - - 399 Loan processing expense - 2,875 - 2,875 Other 2,221 9,152 (475 ) 10,898 Total noninterest expenses 26,350 102,019 (934 ) 127,435 Income before income taxes 21,009 20,859 126 41,994 Income taxes 7,006 8,550 906 16,462 Net income (loss) $ 14,003 12,309 (780 ) 25,532 Total Assets $ 1,794,697 252,864 (256,942 ) 1,790,619

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 2018
Business Combination [Abstract]
Business Combination	21) Business Combination Academy Mortgage Corporation Branch On June 29, 2018, Waterstone Mortgage Corporation, a subsidiary of WaterStone Bank SSB, completed an acquisition of a branch of Academy Mortgage Corporation, a mortgage banking company in New Mexico. Waterstone Mortgage Corporation paid Academy approximately $600,000 in cash for the transaction. Waterstone Mortgage Corporation's acquisition of the branch was accounted for as a business combination. Under the transaction, fixed assets and a customer list were acquired and the branch leases were assumed. Under this method of accounting, assets acquired are recorded at their estimated fair values. Total consideration paid less the fair value of assets acquired was recorded as goodwill. The Company recorded an insignificant amount of goodwill as a result of this acquisition.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Nature of Operations	a) Nature of Operations The Company is a one-bank holding company with two operating segments – community banking and mortgage banking. WaterStone Bank SSB (the "Bank" or "WaterStone Bank") is principally engaged in the business of attracting deposits from the general public and using such deposits to originate real estate, business and consumer loans. The Bank provides a full range of financial services to customers through branch locations in southeastern Wisconsin. In addition, the Bank has a loan production office in Minneapolis, Minnesota. The Bank is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The Bank owns a mortgage banking subsidiary that originates residential real estate loans held for sale at various branch offices across the country. Mortgage banking volume fluctuates widely given movements in interest rates. Mortgage banking income is reported as a single line item in the statements of operations while mortgage banking expense is distributed among the various noninterest expense lines. Compensation, payroll taxes and other employee benefits expense varies directly with mortgage banking income.
Principles of Consolidation	b) Principles of Consolidation The consolidated financial statements include the accounts and operations of Waterstone Financial, Inc. and its wholly owned subsidiary, WaterStone Bank. The Bank has the following wholly owned subsidiaries: Wauwatosa Investments, Inc., Waterstone Mortgage Corporation, and Main Street Real Estate Holdings, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	c) Use of Estimates The preparation of the consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include: the allowance for loan losses, income taxes, and fair value measurements.
Cash and Cash Equivalents	e) Cash and Cash Equivalents The Company considers federal funds sold and highly liquid debt instruments with a maturity of three months or less when purchased to be cash equivalents.
Securities	e) Securities Available for Sale Securities At the time of purchase, investment securities are classified as available for sale, as management has the intent and ability to hold such securities for an indefinite period of time, but not necessarily to maturity. Any decision to sell investment securities available for sale would be based on various factors, including, but not limited to asset/liability management strategies, changes in interest rates or prepayment risks, liquidity needs, or regulatory capital considerations. Available for sale securities are carried at fair value, with the unrealized gains and losses, net of deferred tax, reported as a separate component of equity in accumulated other comprehensive income (loss). The cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity or, in the case of mortgage-backed securities and collateralized mortgage obligations, over the estimated life of the security. Such amortization or accretion is included in interest income from securities. Realized gains or losses on securities sales (using specific identification method) are included in other income. Declines in value judged to be other than temporary are included in net impairment losses recognized in earnings in the consolidated statements of operations. Other Than Temporary Impairment One of the significant estimates related to securities is the evaluation of investments for other than temporary impairment. The Company assesses investment securities with unrealized loss positions for other than temporary impairment on at least a quarterly basis. When the fair value of an investment is less than its amortized cost at the balance sheet date of the reporting period for which impairment is assessed, the impairment is designated as either temporary or other than temporary. In evaluating other than temporary impairment, management considers the length of time and extent to which the fair value has been less than cost and the expected recovery period of the security, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of investment securities below amortized cost are deemed to be other than temporary when the Company cannot assert that it will recover its amortized cost basis, including whether the present value of cash flows expected to be collected is less than the amortized cost basis of the security. If it is more likely than not that the Company will be required to sell the security before recovery or if the Company has the intent to sell, an other than temporary impairment write down is recognized in earnings equal to the difference between the security’s amortized cost and its fair value. If it is not more likely than not that the Company will be required to sell the security before recovery and if the Company does not intend to sell, the other than temporary impairment write down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to other factors, which is recognized as a separate component of equity. Following the recognition of an other than temporary impairment representing credit loss, the book value of an investment less the impairment loss realized becomes the new cost basis. The determination as to whether an other than temporary impairment exists and, if so, the amount considered other than temporarily impaired, or not impaired, is subjective and, therefore, the timing and amount of other than temporary impairments constitute material estimates that are subject to significant change. Federal Home Loan Bank Stock Federal Home Loan Bank ("FHLB") stock is carried at cost, which is the amount that the stock is redeemable by tendering to the FHLB or the amount at which shares can be sold to other FHLB members.
Loans Held for Sale	f) Loans Held for Sale The origination of residential real estate loans is an integral component of the business of the Company. The Company generally sells its originations of long-term fixed interest rate mortgage loans in the secondary market, and on a selective basis, retains the rights to service the loans sold. Gains and losses on the sales of these loans are determined using the specific identification method. Mortgage loans originated for sale are generally sold within 45 days after closing. The Company has elected to carry loans held for sale at fair value. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the market. The amount by which cost differs from market value is accounted for as a valuation adjustment to the carrying value of the loans. Changes in value are included in mortgage banking income in the consolidated statements of operations. Costs to originate loans held for sale are expensed as incurred and are included on the appropriate noninterest expense lines of the statements of operations. Salaries, commissions and related payroll taxes are the primary costs to originate and comprised approximately 75.1% of total mortgage banking noninterest expense for 2018. The value of mortgage loans held for sale and other residential mortgage loan commitments to customers are hedged by utilizing both best efforts and mandatory forward commitments to sell loans to investors in the secondary market. Such forward commitments are generally entered into at the time when applications are taken to protect the value of the mortgage loans from increases in market interest rates during the period held. The Company recognizes revenue associated with the expected future cash flows of servicing loans at the time a forward loan commitment is made, as required under Securities and Exchange Commission Staff Accounting Bulletin No. 109, Written Loan Commitments Recorded at Fair Value Through Earnings.
Loans Receivable and Related Interest Income	g) Loans Receivable and Related Interest Income Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Loans are carried at the principal amount outstanding, net of any unearned income, charge-offs and unamortized deferred fees and costs. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount amortized as an adjustment of the related loan yield. Amortization is based on a level-yield method over the contractual life of the related loans or until the loan is paid in full. Loan interest income is recognized on the accrual basis. Accrual of interest is generally discontinued either when reasonable doubt exists as to the full, timely collection of interest or principal, or when a loan becomes contractually past due more than 90 days with respect to interest or principal. At that time, previously accrued and uncollected interest on such loans is reversed and additional income is recorded only to the extent that payments are received and the collection of principal is reasonably assured. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. A loan is accounted for as a troubled debt restructuring if the Company, for economic reasons related to the borrower’s financial condition, grants a concession to the borrower that it would not otherwise consider. A troubled debt restructuring typically involves a modification of terms such as a reduction of the stated interest rate, a deferral of principal payments or a combination of both for a temporary period of time. If the borrower was performing in accordance with the original contractual terms at the time of the restructuring, the restructured loan is accounted for on an accruing basis as long as the borrower continues to comply with the modified terms. If the loan was not accounted for on an accrual basis at the time of restructuring, the restructured loan remains in non-accrual status until the loan completes a minimum of six consecutive contractual payments.
Allowance for Loan Losses	h) Allowance for Loan Losses The allowance for loan losses is presented as a reserve against loans and represents the Bank’s assessment of probable loan losses inherent in the loan portfolio. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Estimated loan losses are charged against the allowance when the loan balance is confirmed to be uncollectible directly or indirectly by the borrower or upon initiation of a foreclosure action by the Bank. Subsequent recoveries, if any, are credited to the allowance. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent in the loan portfolio, but have not been specifically identified. The Bank utilizes its own loss history to estimate inherent losses on loans. Although the Bank allocates portions of the allowance to specific loans and loan types, the entire allowance is available for any loan losses that occur. The Bank evaluates the need for specific valuation allowances on loans that are considered impaired. A loan is considered impaired when, based on current information and events, it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Within the loan portfolio, all non-accrual loans and loans modified under troubled debt restructurings have been determined by the Bank to meet the definition of an impaired loan. In addition, other loans may be considered impaired loans. A valuation allowance is established for an amount equal to the impairment when the carrying amount of the loan exceeds the present value of the expected future cash flows, discounted at the loan’s original effective interest rate or the fair value of the underlying collateral. The Bank also establishes valuation allowances based on an evaluation of the various risk components that are inherent in the loan portfolio. The risk components that are evaluated include past loan loss experience; the level of non-performing and classified assets; current economic conditions; volume, growth, and composition of the loan portfolio; adverse situations that may affect the borrower’s ability to repay; the estimated value of any underlying collateral; regulatory guidance; and other relevant factors. The appropriateness of the allowance for loan losses is approved quarterly by the Bank’s board of directors. The allowance reflects management’s best estimate of the amount needed to provide for the probable loss on impaired loans, as well as other credit risks of the Bank, and is based on a risk model developed and implemented by management and approved by the Bank’s board of directors. Actual results could differ from this estimate, and future additions to the allowance may be necessary based on unforeseen changes in economic conditions. In addition, federal regulators periodically review the Bank’s allowance for loan losses. Such regulators have the authority to require the Bank to recognize additions to the allowance at the time of their examination.
Real Estate Owned	i) Real Estate Owned Real estate owned consists of properties acquired through, or in lieu of, loan foreclosure. Real estate owned is transferred into the portfolio at estimated net realizable value. To the extent that the net carrying value of the loan exceeds the estimated fair value of the property at the date of transfer, the excess is charged to the allowance for loan losses within 90 days of being transferred. Subsequent write-downs to reflect current fair market value, as well as gains and losses upon disposition and revenue and expenses incurred in maintaining such properties, are treated as period costs and included in real estate owned in the consolidated statements of operations.
Mortgage Servicing Rights	j) Mortgage Servicing Rights The Company sells residential mortgage loans in the secondary market and, on a selective basis, retains the right to service the loans sold. Upon sale, a mortgage servicing rights asset is capitalized, which represents the then current fair value of future net cash flows expected to be realized for performing servicing activities. Mortgage servicing rights, when purchased, are initially recorded at fair value. Mortgage servicing rights are amortized over the period of estimated net servicing income, and assessed for impairment at each reporting date. Mortgage servicing rights are carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value, and are included in other assets, net in the consolidated balance sheets. To the extent that the Company sells mortgage servicing rights, a gain is recognized for the amount of which sale proceeds exceed the remaining unamortized cost of the servicing rights that were sold. Gains on sale of mortgage servicing rights are included in other noninterest income in the consolidated statements of operations.
Cash Surrender Value of Life Insurance	k) Cash Surrender Value of Life Insurance The Company purchases bank owned life insurance on the lives of certain employees. The Company is the beneficiary of the life insurance policies. The cash surrender value of life insurance is reported at the amount that would be received in cash if the polices were surrendered. Increases in the cash value of the policies and proceeds of death benefits received are recorded in noninterest income. The increase in cash surrender value of life insurance is not subject to income taxes, as long as the Company has the intent and ability to hold the policies until the death benefits are received.
Office Properties and Equipment	l) Office Properties and Equipment Office properties and equipment, including leasehold improvements and software, are stated at cost, net of depreciation and amortization. Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lease term, if shorter than the estimated useful life. Maintenance and repairs are charged to expense as incurred, while additions or major improvements are capitalized and depreciated over their estimated useful lives. Estimated useful lives of the assets are 10 to 30 years for office properties, three to 10 years for equipment, and three years for software. Rent expense related to long-term operating leases is recorded on the accrual basis.
Income Taxes	m) Income Taxes The Company and its subsidiaries file consolidated federal and combined state income tax returns. The provision for income taxes is based upon income in the consolidated financial statements, rather than amounts reported on the income tax returns. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. Under generally accepted accounting principles, a valuation allowance is required to be recognized if it is “more likely than not” that a deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management's evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. Positions taken in the Company’s tax returns may be subject to challenge by the taxing authorities upon examination. The benefit of uncertain tax positions are initially recognized in the financial statements only when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. Interest and penalties on income tax uncertainties are classified within income tax expense in the income statement.
Earnings Per Share	n) Earnings Per Share Earnings per share (EPS) are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Shares of the Employee Stock Ownership Plan committed to be released are considered outstanding for both common and diluted EPS. Incentive stock compensation awards granted can result in dilution.
Comprehensive Income	o) Comprehensive Income Comprehensive income is the total of reported net income and changes in unrealized gains or losses, net of tax, on securities available for sale.
Employee Stock Ownership Plan (ESOP)	p) Employee Stock Ownership Plan (ESOP) Compensation expense under the ESOP is equal to the fair value of common shares released or committed to be released to participants in the ESOP in each respective period. Common stock purchased by the ESOP and not committed to be released to participants is included in the consolidated statements of financial condition at cost as a reduction of shareholders’ equity.
Impact of Recent Accounting Pronouncements	q) Impact of Recent Accounting Pronouncements Accounting Standards Codification (ASC) Topic 606 "Revenue from Contracts with Customers." Revenue Recognition · Debit and credit card interchange fee income · Service charges on deposit accounts · Service charges on loan accounts ASC Topic 825 "Financial Instruments." ASC Topic 842 "Leases." ASC Topic 718 "Compensation - Stock Compensation." ASC Topic 326 "Financial Instruments - Credit Losses." Management has met with the necessary departments needed to implement the new accounting guidance. The Company had identified appropriate loan portfolio segments, determined modeling choices to use, and identified historical information needed. A model calculation is in process along with deciding on assumptions within the model. The Company is also working on updating its accounting policies and assessing the control framework needed around the new standard. ASC Topic 310 "Receivables - Nonrefundable Fees and Other Costs." ASC Topic 220 "Income Statement - Reporting Comprehensive Income."

Derivative Financial Instrume_2

Derivative Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2018
Derivative Financial Instruments [Abstract]
Derivative financial instruments	In connection with its mortgage banking activities, the Company enters into derivative financial instruments as part of its strategy to manage its exposure to changes in interest rates. Mortgage banking derivatives include interest rate lock commitments provided to customers to fund mortgage loans to be sold in the secondary market and forward commitments for the future delivery of such loans. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of future changes in interest rates on its commitments to fund the loans as well as on its portfolio of mortgage loans held-for-sale. The Company’s mortgage banking derivatives have not been designated as being a hedge relationship. These instruments are used to manage the Company’s exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of ASC 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company does not use derivatives for speculative purposes. Forward commitments to sell mortgage loans represent commitments obtained by the Company from a secondary market agency to purchase mortgages from the Company at specified interest rates and within specified periods of time. Commitments to sell loans are made to mitigate interest rate risk on interest rate lock commitments to originate loans and loans held for sale. At December 31, 2018, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $276.3 million and interest rate lock commitments with an aggregate notional amount of approximately $164.9 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2018 included a loss of $1.1 million that is reported as a component of other liabilities on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2018 included a gain of $2.0 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. In determining the fair value of its derivative loan commitments, the Company considers the value that would be generated when the loan arising from exercise of the loan commitment is sold in the secondary mortgage market. That value includes the price that the loan is expected to be sold for in the secondary mortgage market. The fair value of these commitments is recorded on the consolidated statements of financial condition with the changes in fair value recorded as a component of mortgage banking income. Residential mortgage loans sold to others are predominantly conventional residential first lien mortgages. The Company's agreements to sell residential mortgage loans in the normal course of business usually require certain representations and warranties on the underlying loans sold related to credit information, loan documentation and collateral, which if subsequently are untrue or breached, could require the Company to repurchase certain loans affected. The Company has only been required to make insignificant repurchases as a result of breaches of representations and warranties. The Company's agreements to sell residential mortgage loans also contain limited recourse provisions. The recourse provisions are limited in that the recourse provision ends after certain payment criteria have been met. With respect to these loans, repurchase could be required if defined delinquency issues arose during the limited recourse period. Given that the underlying loans delivered to buyers are predominantly conventional first lien mortgages and that historical experience shows negligible losses and insignificant repurchase activity, management believes that losses and repurchases under the limited recourse provisions will continue to be insignificant.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Securities Available for Sale [Abstract]
Amortized Cost and Fair Values of Investment in Securities Available for Sale	The amortized cost and fair value of the Company’s investment in securities follow: December 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 42,105 91 (565 ) 41,631 Collateralized mortgage obligations Government sponsored enterprise issued 75,923 243 (1,211 ) 74,955 Mortgage related securities 118,028 334 (1,776 ) 116,586 Municipal securities 55,242 825 (119 ) 55,948 Other debt securities 15,002 - (1,816 ) 13,186 Debt securities 70,244 825 (1,935 ) 69,134 $ 188,272 1,159 (3,711 ) 185,720 December 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 57,351 324 (240 ) 57,435 Collateralized mortgage obligations Government sponsored enterprise issued 61,313 3 (816 ) 60,500 Mortgage related securities 118,664 327 (1,056 ) 117,935 Government sponsored enterprise bonds 2,500 - (3 ) 2,497 Municipal securities 62,516 1,334 (81 ) 63,769 Other debt securities 15,005 12 (492 ) 14,525 Debt securities 80,021 1,346 (576 ) 80,791 Certificates of deposit 980 1 - 981 $ 199,665 1,674 (1,632 ) 199,707
Amortized Cost and Fair Values of Investment Securities by Contractual Maturity	The amortized cost and fair value of securities at December 31, 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers or borrowers may have the right to prepay obligations with or without prepayment penalties. December 31, 2018 Amortized cost Fair value (In Thousands) Debt securities: Due within one year $ 6,992 6,963 Due after one year through five years 20,891 20,833 Due after five years through ten years 31,754 32,448 Due after ten years 10,607 8,890 Mortgage-related securities 118,028 116,586 $ 188,272 185,720
Total Proceeds and Gross Gains and Losses from Sales of Investment Securities Available for Sale	Total proceeds and gross gains and losses from sales of investment securities available for sale for each of periods listed below. December 31, 2018 2017 2016 (In Thousands) Gross gains $ - - - Gross losses - (107 ) - Losses on sale of investment securities, net $ - (107 ) - Proceeds from sales of investment securities $ - 448 -
Fair value and gross unrealized losses on securities available for sale and in a continuous unrealized loss position	Gross unrealized losses on securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: December 31, 2018 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 3,036 (9 ) 33,029 (556 ) 36,065 (565 ) Collateralized mortgage obligations Government sponsored enterprise issued 3,079 (13 ) 47,279 (1,198 ) 50,358 (1,211 ) Municipal securities 7,595 (17 ) 11,272 (102 ) 18,867 (119 ) Other debt securities - - 13,186 (1,816 ) 13,186 (1,816 ) $ 13,710 (39 ) 104,766 (3,672 ) 118,476 (3,711 ) December 31, 2017 Less than 12 months 12 months or longer Total Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss (In Thousands) Mortgage-backed securities $ 35,136 (143 ) 4,464 (97 ) 39,600 (240 ) Collateralized mortgage obligations Government sponsored enterprise issued 37,949 (348 ) 21,651 (468 ) 59,600 (816 ) Government sponsored enterprise bonds 2,497 (3 ) - - 2,497 (3 ) Municipal securities 17,096 (80 ) 100 (1 ) 17,196 (81 ) Other debt securities - - 9,508 (492 ) 9,508 (492 ) Certificates of deposit - - - - - - $ 92,678 (574 ) 35,723 (1,058 ) 128,401 (1,632 )
Change in other-than-temporary credit related impairment charges on collateralized mortgage obligations for which a portion of OTTI related to other factors was recognized in other comprehensive loss	The following table presents the change in other-than-temporary credit related impairment charges on municipal securities for which a portion of the other-than-temporary impairments related to other factors was recognized in other comprehensive loss. (In Thousands) Credit-related impairments on securities as of December 31, 2016 $ 94 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized $ - Decrease in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized - Credit-related impairments on securities as of December 31, 2017 $ 94 Credit related impairments related to a security for which other-than-temporary impairment was not previously recognized $ - Increase in credit related impairments related to securities for which an other-than-temporary impairment was previously recognized - Credit-related impairments on securities as of December 31, 2018 $ 94

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2018
Loan Receivable [Abstract]
Schedule of Components of Loans Receivable	Loans receivable at December 31, 2018 and 2017 are summarized as follows: December 31, 2018 2017 Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 489,979 439,597 Multi family 597,087 578,440 Home equity 19,956 21,124 Construction and land 13,361 19,859 Commercial real estate 225,522 195,842 Consumer 433 255 Commercial loans 32,810 36,697 Total loans receivable $ 1,379,148 1,291,814
Analysis of Past Due Loans Receivable	An analysis of past due loans receivable as of December 31, 2018 and 2017 follows: As of December 31, 2018 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 1,523 76 3,834 5,433 484,546 489,979 Multi family - - 937 937 596,150 597,087 Home equity 216 42 111 369 19,587 19,956 Construction and land - - - - 13,361 13,361 Commercial real estate 39 - 125 164 225,358 225,522 Consumer 29 - - 29 404 433 Commercial loans - - 18 18 32,792 32,810 Total $ 1,807 118 5,025 6,950 1,372,198 1,379,148 As of December 31, 2017 1-59 Days Past Due (1) 60-89 Days Past Due (2) Greater Than 90 Days Total Past Due Current (3) Total Loans Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 1,494 146 3,516 5,156 434,441 439,597 Multi family - 128 192 320 578,120 578,440 Home equity 68 - 56 124 21,000 21,124 Construction and land - - - - 19,859 19,859 Commercial real estate - - 184 184 195,658 195,842 Consumer - - - - 255 255 Commercial loans - 42 26 68 36,629 36,697 Total $ 1,562 316 3,974 5,852 1,285,962 1,291,814 (1) Includes $422,000 and $241,000 for December 31, 2018 and 2017, respectively, which are on non-accrual status. (2) Includes $118,000 and $15,000 for December 31, 2018 and 2017, respectively, which are on non-accrual status. (3) Includes $990,000 and $1.8 million for December 31, 2018 and 2017, respectively, which are on non-accrual status.
Allowance for Loan Losses	A summary of the activity for the years ended 2018, 2017 and 2016 in the allowance for loan losses follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Year ended December 31, 2018 Balance at beginning of period $ 5,794 4,431 356 949 1,881 10 656 14,077 Provision (credit) for loan losses (142 ) (353 ) (56 ) (589 ) 243 10 (173 ) (1,060 ) Charge-offs (69 ) (14 ) (1 ) - - - - (84 ) Recoveries 159 89 26 40 2 - - 316 Balance at end of period $ 5,742 4,153 325 400 2,126 20 483 13,249 Year ended December 31, 2017 Balance at beginning of period $ 7,164 4,809 364 1,016 1,951 12 713 16,029 Provision (credit) for loan losses (299 ) (494 ) (34 ) (215 ) (64 ) (3 ) (57 ) (1,166 ) Charge-offs (1,364 ) (92 ) - (14 ) (7 ) - - (1,477 ) Recoveries 293 208 26 162 1 1 - 691 Balance at end of period $ 5,794 4,431 356 949 1,881 10 656 14,077 Year ended December 31, 2016 Balance at beginning of period $ 7,763 5,000 433 904 1,680 9 396 16,185 Provision for loan losses (407 ) 146 7 43 271 3 317 380 Charge-offs (1,003 ) (489 ) (112 ) (3 ) - - - (1,607 ) Recoveries 811 152 36 72 - - - 1,071 Balance at end of period $ 7,164 4,809 364 1,016 1,951 12 713 16,029
Allowance for Loan Loss for Loans Evaluated Individually and Collectively for Impairment	A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2018 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) Allowance related to loans individually evaluated for impairment $ 73 - 46 - 67 - - 186 Allowance related to loans collectively evaluated for impairment 5,669 4,153 279 400 2,059 20 483 13,063 Balance at end of period $ 5,742 4,153 325 400 2,126 20 483 13,249 Loans individually evaluated for impairment $ 7,642 1,309 246 - 2,885 - 18 12,100 Loans collectively evaluated for impairment 482,337 595,778 19,710 13,361 222,637 433 32,792 1,367,048 Total gross loans $ 489,979 597,087 19,956 13,361 225,522 433 32,810 1,379,148 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of the year ended December 31, 2017 follows: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands ) Allowance related to loans individually evaluated for impairment $ 77 - 44 - 34 - - 155 Allowance related to loans collectively evaluated for impairment 5,717 4,431 312 949 1,847 10 656 13,922 Balance at end of period $ 5,794 4,431 356 949 1,881 10 656 14,077 Loans individually evaluated for impairment $ 7,418 1,007 185 - 540 - 26 9,176 Loans collectively evaluated for impairment 432,179 577,433 20,939 19,859 195,302 255 36,671 1,282,638 Total gross loans $ 439,597 578,440 21,124 19,859 195,842 255 36,697 1,291,814
Internal Risk Rating of Loans Receivable	The following table presents information relating to the Company’s internal risk ratings of its loans receivable as of December 31, 2018 and 2017: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total At December 31, 2018 (In Thousands) Substandard $ 7,799 1,309 246 - 678 - 889 10,921 Watch 4,662 491 468 - 4,343 - 906 10,870 Pass 477,518 595,287 19,242 13,361 220,501 433 31,015 1,357,357 $ 489,979 597,087 19,956 13,361 225,522 433 32,810 1,379,148 At December 31, 2017 (In Thousands) Substandard $ 7,581 1,135 138 - 1,124 - 1,585 11,563 Watch 4,939 330 401 - 295 - 741 6,706 Pass 427,077 576,975 20,585 19,859 194,423 255 34,371 1,273,545 $ 439,597 578,440 21,124 19,859 195,842 255 36,697 1,291,814
Impaired Loan Receivables	The following tables present data on impaired loans as of and for the year ended December 31, 2018 and 2017. As of or for the Year Ended December 31, 2018 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 462 462 73 - 470 32 Multi family - - - - - - Home equity 107 107 46 - 110 7 Construction and land - - - - - - Commercial real estate 2,493 2,902 67 409 4,058 181 Consumer - - - - - - Commercial - - - - - - $ 3,062 3,471 186 409 4,638 220 Total Impaired with no Reserve One- to four-family $ 7,180 8,120 - 940 7,355 383 Multi family 1,309 2,142 - 833 1,351 96 Home equity 139 139 - - 144 5 Construction and land - - - - - - Commercial real estate 392 392 - - 431 15 Consumer - - - - - - Commercial 18 18 - - 25 - $ 9,038 10,811 - 1,773 9,306 499 Total Impaired One- to four-family $ 7,642 8,582 73 940 7,825 415 Multi family 1,309 2,142 - 833 1,351 96 Home equity 246 246 46 - 254 12 Construction and land - - - - - - Commercial real estate 2,885 3,294 67 409 4,489 196 Consumer - - - - - - Commercial 18 18 - - 25 - $ 12,100 14,282 186 2,182 13,944 719 As of or for the Year Ended December 31, 2017 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 903 903 77 - 913 52 Multi family - - - - - - Home equity 79 79 44 - 83 6 Construction and land - - - - - - Commercial real estate 34 443 34 409 43 - Consumer - - - - - - Commercial - - - - - - $ 1,016 1,425 155 409 1,039 58 Total Impaired with no Reserve One- to four-family $ 6,515 7,604 - 1,089 6,796 359 Multi family 1,007 1,864 - 857 1,005 94 Home equity 106 106 - - 111 5 Construction and land - - - - - - Commercial real estate 506 506 - - 513 19 Consumer - - - - - - Commercial 26 26 - - 26 - $ 8,160 10,106 - 1,946 8,451 477 Total Impaired One- to four-family $ 7,418 8,507 77 1,089 7,709 411 Multi family 1,007 1,864 - 857 1,005 94 Home equity 185 185 44 - 194 11 Construction and land - - - - - - Commercial real estate 540 949 34 409 556 19 Consumer - - - - - - Commercial 26 26 - - 26 - $ 9,176 11,531 155 2,355 9,490 535
Troubled Debt Restructurings on Loan Receivables	The following presents data on troubled debt restructurings: As of December 31, 2018 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,740 2 $ 844 5 $ 3,584 7 Multi family - - 372 2 372 2 Commercial real estate 2,759 2 17 1 2,776 3 $ 5,499 4 $ 1,233 8 $ 6,732 12 As of December 31, 2017 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,740 2 $ 1,156 7 $ 3,896 9 Multi family - - 815 3 815 3 Home equity 47 1 - - 47 1 Commercial real estate 290 1 34 1 324 2 $ 3,077 4 $ 2,005 11 $ 5,082 15
Troubled Debt Restructurings by Concession Type	The following presents troubled debt restructurings by concession type at December 31, 2018 and 2017: As of December 31, 2018 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 5,848 7 546 2 6,394 9 Interest reduction 338 3 - - 338 3 $ 6,186 10 546 2 6,732 12 As of December 31, 2017 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 4,022 9 660 2 4,682 11 Principal forbearance 47 1 - - 47 1 Interest reduction 353 3 - - 353 3 $ 4,422 13 660 2 5,082 15
Schedule of Data on Troubled Debt Restructurings	The following presents data on troubled debt restructurings: For the Year Ended December 31, 2018 December 31, 2017 Amount Number Amount Number (Dollars in Thousands) Loans modified as a troubled debt restructure Commercial real estate $ 2,476 1 - - $ 2,476 1 - - There were no troubled debt restructurings within the past twelve months for which there was a default during the year ended December 31, 2018.
Loans Receivables, Non Accrual Status	The following table presents data on non-accrual loans: As of December 31, 2018 2017 (Dollars in Thousands) Residential One- to four-family $ 4,902 4,677 Multi family 1,309 1,007 Home equity 201 107 Construction and land - - Commercial real estate 125 251 Commercial 18 26 Consumer - - Total non-accrual loans $ 6,555 6,068 Total non-accrual loans to total loans 0.48 % 0.47 % Total non-accrual loans to total assets 0.34 % 0.34 %

Office Properties and Equipme_2

Office Properties and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Office Properties and Equipment [Abstract]
Schedule of office properties and equipment	Office properties and equipment are summarized as follows: December 31, 2018 2017 (In Thousands) Land $ 7,357 6,668 Office buildings and improvements 32,473 30,587 Furniture and equipment 13,518 13,585 53,348 50,840 Less accumulated depreciation (28,824 ) (27,899 ) $ 24,524 22,941
Minimum annual commitments under all non-cancelable lease agreements	The Company and certain subsidiaries are obligated under non-cancelable operating leases for other facilities and equipment. Rent and equipment lease expense totaled $5.2 million, $4.8 million and $4.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. The appropriate minimum annual commitments under all non-cancelable lease agreements as of December 31, 2018 are as follows: Operating leases (In Thousands) Within one year $ 3,454 One to two years 2,598 Two to three years 1,626 Three to four years 1,021 Four through five years 792 After five years 914 Total $ 10,405

Real Estate Owned (Tables)

Real Estate Owned (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate Owned [Abstract]
Real Estate Owned	Real estate owned is summarized as follows: December 31, 2018 2017 (In Thousands) One- to four-family $ 163 1,330 Multi-family - - Construction and land 3,327 4,582 Commercial real estate 300 300 Total 3,790 6,212 Valuation allowance at end of period (1,638 ) (1,654 ) Total real estate owned, net $ 2,152 4,558 The following table presents the activity in real estate owned: Year Ended December 31, 2018 2017 (In Thousands) Real estate owned at beginning of period $ 4,558 6,118 Transferred in from loans receivable 545 2,171 Sales (2,642 ) (3,213 ) Write downs (309 ) (514 ) Other activity - (4 ) Real estate owned at end of period $ 2,152 4,558 Residential one- to four-family mortgage loans that were in the process of foreclosure were $2.2 million and $2.3 million at December 31, 2018 and December 31, 2017, respectively.

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2018
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights Activity	The following table presents the activity related to the Company’s mortgage servicing rights: Year ended December 31, 2018 2017 (In Thousands) Mortgage servicing rights at beginning of the period $ 888 $ 2,260 Additions 427 998 Amortization (191 ) (106 ) Sales (1,015 ) (2,264 ) Mortgage servicing rights at end of the period 109 888 Valuation allowance at end of period - - Mortgage servicing rights at the end of the period, net $ 109 $ 888 During the year ended December 31, 2018, on a consolidated basis, $2.51 billion in residential loans were originated for sale, which excludes the loans originated from Waterstone Mortgage Corporation and purchased by WaterStone Bank. During the same period, sales of loans held for sale totaled $2.52 billion, generating mortgage banking income of $113.2 million. The unpaid principal balance of loans serviced for others was $14.1 million and $126.3 million at December 31, 2018 and December 31, 2017 respectively. These loans are not reflected in the consolidated statements of financial condition. During the year ended December 31, 2018, the Company sold mortgage servicing rights related to $148.7 million in loans receivable and with a book value of $1.0 million for $1.4 million resulting in a gain on sale of $417,000. During the year ended December 31, 2017, the Company sold mortgage servicing rights related to $295.1 million in loans receivable and with a book value of $2.3 million for $2.5 million resulting in a gain on sale of $178,000.
Estimated Amortization Expense of Mortgage Servicing Rights	The following table shows the estimated future amortization expense for mortgage servicing rights at December 31, 2018 for the periods indicated: (In Thousands) Estimate for the years ended December 31: 2019 $ 25 2020 21 2021 18 2022 15 2023 12 Thereafter 18 Total $ 109

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2018
Deposits [Abstract]
Summary of interest expense on deposits	A summary of interest expense on deposits is as follows: Years ended December 31, 2018 2017 2016 (In Thousands) Interest-bearing demand deposits $ 33 28 19 Money market and savings deposits 599 401 392 Time deposits 10,995 7,310 6,953 $ 11,627 7,739 7,364
Contractual Maturities of Time Deposits	A summary of the contractual maturities of time deposits at December 31, 2018 is as follows: (In Thousands) Within one year $ 472,540 One to two years 238,524 Two to three years 21,573 Three to four years 2,245 Four through five years 991 $ 735,873

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2018
Borrowings [Abstract]
Borrowings	Borrowings consist of the following: December 31, 2018 December 31, 2017 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreements $ 5,046 5.39 % 11,285 4.32 % Federal Home Loan Bank, Chicago advances - - 35,000 1.28 % Long term: Federal Home Loan Bank advances maturing: 2018 - - 65,000 2.97 % 2021 - - 100,000 0.78 % 2027 175,000 1.38 % 175,000 1.38 % 2028 255,000 2.37 % - - $ 435,046 2.01 % 386,285 1.57 %

Regulatory Capital (Tables)

Regulatory Capital (Tables)	12 Months Ended
	Dec. 31, 2018
Regulatory Capital [Abstract]
Actual and Required Capital Amounts and Ratios	The actual and required capital amounts and ratios as of December 31, 2018 and 2017 are presented in the table below: December 31, 2018 Actual For Capital Adequacy Purposes Minimum Capital Adequacy with Capital Buffer To Be Well-Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 414,566 28.22 % 117,506 8.00 % 145,046 9.880 % N/A N/A WaterStone Bank 395,783 26.95 % 117,490 8.00 % 145,027 9.880 % 146,863 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 401,317 27.32 % 88,130 6.00 % 115,670 7.880 % N/A N/A WaterStone Bank 382,534 26.05 % 88,118 6.00 % 115,655 7.880 % 117,490 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 401,317 27.32 % 66,097 4.50 % 93,638 6.380 % N/A N/A WaterStone Bank 382,534 26.05 % 66,088 4.50 % 93,625 6.380 % 95,461 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 401,317 21.06 % 76,214 4.00 % N/A N/A N/A N/A WaterStone Bank 382,534 20.08 % 76,214 4.00 % N/A N/A 95,268 5.00 % State of Wisconsin (to total assets) WaterStone Bank 382,534 20.01 % 114,712 6.00 % N/A N/A N/A N/A December 31, 2017 (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 426,057 30.75 % 110,829 8.00 % 128,146 9.25 % N/A N/A WaterStone Bank 400,792 28.93 % 110,812 8.00 % 128,127 9.25 % 138,515 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 411,980 29.74 % 83,122 6.00 % 100,439 7.25 % N/A N/A WaterStone Bank 386,715 27.92 % 83,109 6.00 % 100,424 7.25 % 110,812 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 411,980 29.74 % 62,341 4.50 % 79,658 5.75 % N/A N/A WaterStone Bank 386,715 27.92 % 62,332 4.50 % 79,646 5.75 % 90,035 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 411,980 22.43 % 73,481 4.00 % N/A N/A N/A N/A WaterStone Bank 386,715 21.10 % 73,304 4.00 % N/A N/A 91,630 5.00 % State of Wisconsin (to total assets) WaterStone Bank 386,715 21.44 % 108,243 6.00 % N/A N/A N/A N/A

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Stock Based Compensation [Abstract]
Estimated fair value of options granted	Assumptions are used in estimating the fair value of stock options granted. The weighted average expected life of the stock options represent the period of time that the options are expected to be outstanding and is based on the historical results from the previous awards. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected volatility is based on the actual volatility of Waterstone Financial, Inc. stock for the weighted average life time period prior to issuance date. The following assumptions were used in estimating the fair value of options granted in the years ended December 31, 2018 and 2017. 2018 2017 Minimum Maximum Minimum Maximum Dividend Yield 2.70 % 2.74 % 2.48 % 2.71 % Risk-free interest rate 2.57 % 2.96 % 1.80 % 1.93 % Expected volatility 16.27 % 30.88 % 27.79 % 32.54 % Weighted average expected life 5.4 6.2 5.3 5.5 Weighted average per share value of options $ 1.97 4.26 4.01 4.63
Stock option activity	A summary of the Company’s stock option activity for the years ended December 31, 2018, 2017 and 2016 is presented below. Stock Options Shares Weighted Average Exercise Price Weighted Average Years Remaining in Contractual Term Aggregate Intrinsic Value (000's) Outstanding December 31, 2015 2,103,047 $ 12.90 6.15 2,533 Options exercisable at December 31, 2015 810,255 14.25 1.63 (123 ) Granted 55,000 15.54 151 Exercised (736,548 ) 15.04 2,388 Forfeited (59,000 ) 13.15 303 Outstanding December 31, 2016 1,362,499 11.83 7.74 8,785 Options exercisable at December 31, 2016 304,595 9.66 6.44 2,625 Granted 20,000 18.78 (35 ) Exercised (211,205 ) 6.48 2,233 Forfeited (12,195 ) 14.83 27 Outstanding December 31, 2017 1,159,099 12.89 7.24 4,870 Options exercisable at December 31, 2017 331,097 12.53 7.10 1,501 Granted 80,000 17.23 3 Exercised (106,030 ) 12.30 473 Forfeited (72,000 ) 13.97 224 Outstanding December 31, 2018 1,061,069 13.21 6.47 3,850 Options exercisable at December 31, 2018 421,068 12.78 6.23 1,688 The following table summarizes information about the Company's stock options outstanding at December 31, 2018. Options Outstanding Weighted Average Exercise Price Remaining Life (Years) Options Exercisable Weighted Average Exercise Price Remaining Life (Years) Range of Exercise Prices $ 0.01 - $5.00 4,237 $ 1.73 3.01 4,237 $ 1.73 3.01 $ 5.01 - $10.00 - - - - - - $ 10.01 - $15.00 956,832 12.82 6.22 408,831 12.82 6.22 Over $15.01 100,000 17.54 9.05 8,000 18.23 8.23 1,061,069 $ 13.21 6.47 421,068 $ 12.78 6.23
Summary of nonvested stock option activity	The following table summarizes information about the Company’s nonvested stock option activity for the years ended December 31, 2018 and 2017: Stock Options Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2016 1,057,904 $ 3.16 Granted 20,000 4.26 Vested (237,707 ) 2.87 Forfeited (12,195 ) 3.55 Nonvested at December 31, 2017 828,002 3.27 Nonvested at December 31, 2017 828,002 3.27 Granted 80,000 3.66 Vested (200,001 ) 3.27 Forfeited (68,000 ) 3.46 Nonvested at December 31, 2018 640,001 3.30
Summary of restricted stock shares activity	The following table summarizes information about the Company’s restricted stock shares activity for the years ended December 31, 2018 and 2017: Restricted Stock Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2016 378,762 $ 12.39 Granted - - Vested (119,562 ) 11.39 Forfeited - - Nonvested at December 31, 2017 259,200 12.85 Nonvested at December 31, 2017 259,200 12.85 Granted - - Vested (93,100 ) 12.84 Forfeited (3,500 ) 12.75 Nonvested at December 31, 2018 162,600 12.85

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	12 Months Ended
	Dec. 31, 2018
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	The aggregate activity in the number of unearned ESOP shares, considering the allocation of those shares committed to be released as of December 31, 2018 and 2017 is as follows: 2018 2017 Beginning ESOP shares 1,686,049 1,791,427 Shares committed to be released (105,378 ) (105,378 ) Unreleased shares 1,580,671 1,686,049 Fair value of unreleased shares (in millions) $ 26.5 28.7

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes [Abstract]
Provision (benefit) for income taxes	The provision for income taxes for the year ended December 31, 2018, 2017 and 2016 consists of the following: Years ended December 31, 2018 2017 2016 (In Thousands) Current: Federal $ 7,087 13,028 12,255 State 1,904 2,362 2,643 8,991 15,390 14,898 Deferred: Federal 452 2,960 1,084 State 83 119 480 535 3,079 1,564 Total $ 9,526 18,469 16,462
Differential income tax provisions computed at the Federal statutory corporate tax rate	The income tax provisions differ from that computed at the Federal statutory corporate tax rate for the years ended December 31, 2018, 2017 and 2016 as follows: Years ended December 31, 2018 2017 2016 (Dollars In Thousands) Income before income taxes $ 40,280 44,433 41,994 Tax at Federal statutory rate (21% in 2018, 35% in 2017 and 2016) 8,459 15,552 14,698 Add (deduct) effect of: State income taxes net of Federal income tax benefit 1,570 1,613 2,030 Cash surrender value of life insurance (388 ) (632 ) (619 ) Non-deductible ESOP and stock option expense 188 380 268 Tax-exempt interest income (248 ) (449 ) (529 ) Non-deductible compensation 177 280 254 Stock option write off - - 773 Deferred tax asset revaluation - 2,644 - Stock compensation (160 ) (1,074 ) (517 ) Other (72 ) 155 104 Income tax provision 9,526 18,469 16,462 Effective tax rate 23.6 % 41.6 % 39.2 %
Components of net deferred tax assets (liabilities) included in prepaid expenses and other assets	The significant components of the Company’s net deferred tax assets (liabilities) included in prepaid expenses and other assets are as follows at December 31, 2018 and 2017: December 31, 2018 2017 Gross deferred tax assets: (In Thousands) Fixed assets $ - 480 Restricted stock and stock options 526 466 Allowance for loan losses 3,239 3,451 Repurchase reserve for loans sold 139 159 Real estate owned 741 993 Nonaccrual interest 292 305 Capital loss carryforward 23 - Unrealized loss on impaired securities 23 23 Unrealized loss on securities available for sale, net 695 - Other 98 192 Total gross deferred tax assets 5,776 6,069 Gross deferred tax liabilities: Excess tax depreciation (28 ) - Unrealized gain on securities available for sale, net - (11 ) Mortgage servicing rights (29 ) (119 ) FHLB stock (68 ) (232 ) Deferred loan fees (475 ) (703 ) Deferred liabilities (600 ) (1,065 ) Net deferred tax assets $ 5,176 5,004

Offsetting of Assets and Liab_2

Offsetting of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Offsetting of Assets and Liabilities [Abstract]
Repurchase Liabilities	The following table presents the liabilities subject to an enforceable master netting agreement as of December 31, 2018 and December 31, 2017. Gross Recognized Liabilities Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount (In thousands) December 31, 2018 Repurchase Agreements Short-term $ 5,046 - 5,046 5,046 - $ 5,046 - 5,046 5,046 - December 31, 2017 Repurchase Agreements Short-term $ 11,285 - 11,285 11,285 - $ 11,285 - 11,285 11,285 -

Commitments, Off-Balance Shee_2

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities [Abstract]
Financial Instruments with Off-Balance Sheet Risk	The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. December 31, 2018 2017 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under first mortgage loans (1) $ 33,762 31,543 Commitments to extend credit under home equity lines of credit 14,903 14,972 Unused portion of construction loans 79,776 17,097 Unused portion of business lines of credit 16,778 16,878 Standby letters of credit 860 259 (1)

Fair Values Measurements (Table

Fair Values Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Values Measurements [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2018 and December 31, 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2018 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 41,631 - 41,631 - Collateralized mortgage obligations Government sponsored enterprise issued 74,955 - 74,955 - Municipal securities 55,948 - 55,948 - Other debt securities 13,186 - 13,186 - Loans held for sale 141,616 - 141,616 - Mortgage banking derivative assets 2,014 - - 2,014 Mortgage banking derivative liabilities 1,116 - - 1,116 Fair Value Measurements Using December 31, 2017 Level 1 Level 2 Level 3 (In Thousands) Available for sale securities Mortgage-backed securities $ 57,435 - 57,435 - Collateralized mortgage obligations Government sponsored enterprise issued 60,500 - 60,500 - Government sponsored enterprise bonds 2,497 - 2,497 - Municipal securities 63,769 - 63,769 - Other debt securities 14,525 - 14,525 - Certificates of deposit 981 - 981 - Loans held for sale 149,896 - 149,896 - Mortgage banking derivative assets 2,004 - - 2,004 Mortgage banking derivative liabilities - - - -
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2018 and 2017. Mortgage banking derivatives, net Balance at December 31, 2016 $ 3,334 Transfer into level 3 - Mortgage derivative gain, net (1,330 ) Balance at December 31, 2017 2,004 Transfer into level 3 - Mortgage derivative loss, net (1,106 ) Balance at December 31, 2018 $ 898
Fair Value Measurements, Nonrecurring	Assets Recorded at Fair Value on a Non-recurring Basis The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a non-recurring basis as of December 31, 2018 and December 31, 2017, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2018 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 2,876 - - 2,876 Real estate owned 2,152 - - 2,152 Fair Value Measurements Using December 31, 2017 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 861 - - 861 Real estate owned 4,558 - - 4,558 _________ (1)
Fair Value, by Balance Sheet Grouping	The carrying amounts and fair values of the Company’s financial instruments consist of the following at December 31, 2018 and December 31, 2017: December 31, 2018 December 31, 2017 Carrying amount Fair Value Carrying amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (In Thousands) Financial Assets Cash and cash equivalents $ 86,101 86,101 73,601 12,500 - 48,607 48,607 39,607 9,000 - Securities available-for-sale 185,720 185,720 - 185,720 - 199,707 199,707 - 199,707 - Loans held for sale 141,616 141,616 - 141,616 - 149,896 149,896 - 149,896 - Loans receivable 1,379,148 1,311,633 - - 1,311,633 1,291,814 1,291,142 - - 1,291,142 FHLB stock 19,350 19,350 - 19,350 - 16,875 16,875 - 16,875 - Accrued interest receivable 5,337 5,337 5,337 - - 4,924 4,924 4,924 - - Mortgage servicing rights 109 109 - - 109 888 1,125 - - 1,125 Mortgage banking derivative assets 2,014 2,014 - - 2,014 2,004 2,004 - - 2,004 Financial Liabilities Deposits 1,038,495 1,038,544 302,622 735,922 - 967,380 967,558 278,401 689,157 - Advance payments by borrowers for taxes 4,371 4,371 4,371 - - 4,876 4,876 4,876 - - Borrowings 435,046 432,269 - 432,269 - 386,285 384,348 - 384,348 - Accrued interest payable 1,395 1,395 1,395 - - 886 886 886 - - Mortgage banking derivative liabilities 1,116 1,116 - - 1,116 - - - - -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Calculations for Basic and Diluted Earnings Per Share	Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares. Presented below are the calculations for basic and diluted earnings per share: For the year ended December 31, 2018 2017 2016 (In Thousands, except per share amounts) Net income $ 30,754 25,964 25,532 Net income available to unvested restricted stockholders - - 15 Net income available to common stockholders $ 30,754 25,964 25,517 Weighted average shares outstanding 27,363 27,467 27,037 Effect of dilutive potential common shares 271 432 337 Diluted weighted average shares outstanding 27,634 27,899 27,374 Basic income per share $ 1.12 0.95 0.94 Diluted income per share $ 1.11 0.93 0.93

Condensed Parent Company Only_2

Condensed Parent Company Only Statements (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Parent Company Only Statements [Abstract]
Statements of Financial Condition	Statements of Financial Condition December 31, 2018 2017 (In Thousands) Assets Cash and cash equivalents $ 20,116 28,954 Investment in subsidiaries 380,897 386,838 Other assets 2,476 207 Total Assets $ 403,489 415,999 Liabilities and shareholders' equity Liabilities: Other liabilities $ 3,810 3,895 Shareholders' equity Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2018 and 2017, no shares issued - - Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2018 and in 2017, Issued - 28,463,239 in 2018 and 29,501,346 in 2017, Outstanding - 28,463,239 in 2018 and 29,501,346 in 2017 285 295 Additional paid-in-capital 330,327 326,655 Retained earnings 187,153 183,358 Unearned ESOP shares (17,804 ) (18,991 ) Cost of shares repurchased (7,171,537 in 2018 and 6,030,900 in 2017), at cost (97,921 ) (78,736 ) Accumulated other comprehensive loss (net of taxes) (2,361 ) (477 ) Total shareholders' equity 399,679 412,104 Total liabilities and shareholders' equity $ 403,489 415,999
Statements of Operations	Statements of Operations For the year ended December 31, 2018 2017 2016 (In Thousands) Interest income $ 656 675 716 Equity in income of subsidiaries (distributed and undistributed) 30,722 25,937 26,309 Total income 31,378 26,612 27,025 Compensation - - - Professional fees 37 57 34 Other expense 577 575 553 Total expense 614 632 587 Income before income tax expense 30,764 25,980 26,438 Income tax expense 10 16 906 Net income $ 30,754 25,964 25,532
Statements of Cash Flows	Statements of Cash Flows For the year ended December 31, 2018 2017 2016 (In Thousands) Cash flows from operating activities Net income $ 30,754 25,964 25,532 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Amortization of unearned ESOP 1,796 1,956 1,633 Stock based compensation 1,760 1,902 1,913 Deferred income taxes - (58 ) 854 Equity in earnings of subsidiaries (30,722 ) (25,937 ) (26,309 ) Change in other assets and liabilities (4,019 ) 530 (2,031 ) Net cash (used in) provided by operating activities (431 ) 4,357 1,592 Net cash used in investing activities - - - Dividends received from subsidiary 36,535 14,698 12,783 Cash dividends on common stock (27,050 ) (26,952 ) (6,917 ) Proceeds from stock option exercises 1,304 1,052 3,556 Purchase of common stock returned to authorized but unissued (19,196 ) (2,190 ) (3,858 ) Net cash (used in) provided by financing activities (8,407 ) (13,392 ) 5,564 Net (decrease) increase in cash (8,838 ) (9,035 ) 7,156 Cash and cash equivalents at beginning of year 28,954 37,989 30,833 Cash and cash equivalents at end of year $ 20,116 28,954 37,989

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	As of or for the Year ended December 31, 2018 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income (loss) $ 54,946 (850 ) 81 54,177 Provision (credit) for loan losses (1,150 ) 90 - (1,060 ) Net interest income (loss) after provision for loan losses 56,096 (940 ) 81 55,237 Noninterest income 4,299 115,429 (1,529 ) 118,199 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 18,385 79,982 (583 ) 97,784 Occupancy, office furniture, and equipment 3,307 7,548 - 10,855 Advertising 749 3,374 - 4,123 Data processing 1,671 1,105 16 2,792 Communications 425 1,186 - 1,611 Professional fees 967 1,343 17 2,327 Real estate owned 1 - - 1 Loan processing expense - 3,372 - 3,372 Other 2,715 8,522 (946 ) 10,291 Total noninterest expenses 28,220 106,432 (1,496 ) 133,156 Income before income taxes 32,175 8,057 48 40,280 Income taxes 7,273 2,243 10 9,526 Net income $ 24,902 5,814 38 30,754 Total Assets $ 1,913,647 166,926 (165,192 ) 1,915,381 As of or for the Year ended December 31, 2017 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 50,608 (49 ) 174 50,733 Provision (credit) for loan losses (1,300 ) 134 - (1,166 ) Net interest income after provision for loan losses 51,908 (183 ) 174 51,899 Noninterest income 3,942 122,091 (1,620 ) 124,413 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 17,495 80,077 (488 ) 97,084 Occupancy, office furniture and equipment 3,127 7,051 - 10,178 Advertising 627 2,706 - 3,333 Data processing 1,619 805 15 2,439 Communications 408 1,152 - 1,560 Professional fees 782 1,837 37 2,656 Real estate owned 379 - - 379 Loan processing expense - 3,062 - 3,062 Other 2,828 9,400 (1,040 ) 11,188 Total noninterest expenses 27,265 106,090 (1,476 ) 131,879 Income before income taxes 28,585 15,818 30 44,433 Income taxes 12,228 6,225 16 18,469 Net income $ 16,357 9,593 14 25,964 Total Assets $ 1,834,191 173,237 (201,027 ) 1,806,401 As of or for the Year ended December 31, 2016 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 42,940 216 288 43,444 Provision for loan losses 200 180 - 380 Net interest income after provision for loan losses 42,740 36 288 43,064 Noninterest income 4,619 122,842 (1,096 ) 126,365 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 17,192 78,288 (424 ) 95,056 Occupancy, office furniture and equipment 3,165 6,182 - 9,347 Advertising 581 2,162 - 2,743 Data processing 1,630 872 18 2,520 Communications 406 1,056 - 1,462 Professional fees 756 1,432 (53 ) 2,135 Real estate owned 399 - - 399 Loan processing expense - 2,875 - 2,875 Other 2,221 9,152 (475 ) 10,898 Total noninterest expenses 26,350 102,019 (934 ) 127,435 Income before income taxes 21,009 20,859 126 41,994 Income taxes 7,006 8,550 906 16,462 Net income (loss) $ 14,003 12,309 (780 ) 25,532 Total Assets $ 1,794,697 252,864 (256,942 ) 1,790,619

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)SegmentPayment
Nature of Operations [Abstract]
Number of operating segments | Segment	2
Cash and Cash Equivalents [Abstract]
Federal funds and debt instruments maturity period	3 months
Loans Held for Sale [Abstract]
Mortgage loans selling period	45 days
Percentage of costs expensed on appropriate noninterest expense	75.10%
Income Taxes [Abstract]
Realized income tax benefit	50.00%
Loans Receivable and Related Interest Income [Abstract]
Period for interest or principal of loans to become past due	90 days
Minimum number of consecutive contractual payments | Payment	6
Real Estate Owned [Abstract]
Period of allowance for loan losses to be considered to the extent the net carrying value of the loan exceeds the estimated fair value	90 days
Office properties [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of office properties and equipment	P10Y
Office properties [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of office properties and equipment	P30Y
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of office properties and equipment	P3Y
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of office properties and equipment	P10Y
Software [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of office properties and equipment	P3Y
ASC 842 [Member] | Plan [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Lease assets	$ 10
Lease liability	$ 10

Securities, Part I (Details)

Securities, Part I (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Securities, Available-for-sale [Abstract]
Amortized cost	$ 188,272	$ 199,665
Gross unrealized gains	1,159	1,674
Gross unrealized losses	(3,711)	(1,632)
Fair value	185,720	199,707
Amortized cost of investment securities by contractual maturity [Abstract]
Due within one year	6,992
Due after one year through five years	20,891
Due after five years through ten years	31,754
Due after ten years	10,607
Mortgage-related securities	118,028
Amortized cost	188,272	199,665
Fair value of investment securities by contractual maturity [Abstract]
Due within one year	6,963
Due after one year through five years	20,833
Due after five years through ten years	32,448
Due after ten years	8,890
Mortgage-related securities	116,586
Fair value	185,720	199,707
Gross gains and losses from sales of investment securities available for sale [Abstract]
Gross gains	0	0	$ 0
Gross losses	0	(107)	0
Losses on sale of investment securities, net	0	(107)	0
Proceeds from sales of investment securities	0	448	$ 0
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	13,710	92,678
12 months or longer	104,766	35,723
Fair value	118,476	128,401
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(39)	(574)
12 months or longer	(3,672)	(1,058)
Unrealized loss	(3,711)	(1,632)
Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	42,105	57,351
Gross unrealized gains	91	324
Gross unrealized losses	(565)	(240)
Fair value	41,631	57,435
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	42,105	57,351
Fair value of investment securities by contractual maturity [Abstract]
Fair value	41,631	57,435
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	3,036	35,136
12 months or longer	33,029	4,464
Fair value	36,065	39,600
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(9)	(143)
12 months or longer	(556)	(97)
Unrealized loss	(565)	(240)
Collateralized Mortgage Obligations, Government Sponsored Enterprise Issued [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	75,923	61,313
Gross unrealized gains	243	3
Gross unrealized losses	(1,211)	(816)
Fair value	74,955	60,500
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	75,923	61,313
Fair value of investment securities by contractual maturity [Abstract]
Fair value	74,955	60,500
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	3,079	37,949
12 months or longer	47,279	21,651
Fair value	50,358	59,600
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(13)	(348)
12 months or longer	(1,198)	(468)
Unrealized loss	(1,211)	(816)
Mortgage-Related Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	118,028	118,664
Gross unrealized gains	334	327
Gross unrealized losses	(1,776)	(1,056)
Fair value	116,586	117,935
Securities pledged as collateral to secure repurchase agreements or related to mortgage banking activities	1,800
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	118,028	118,664
Fair value of investment securities by contractual maturity [Abstract]
Fair value	116,586	117,935
Government-Sponsored Enterprise Bonds [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost		2,500
Gross unrealized gains		0
Gross unrealized losses		(3)
Fair value		2,497
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost		2,500
Fair value of investment securities by contractual maturity [Abstract]
Fair value		2,497
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months		2,497
12 months or longer		0
Fair value		2,497
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months		(3)
12 months or longer		0
Unrealized loss		(3)
Municipal Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	55,242	62,516
Gross unrealized gains	825	1,334
Gross unrealized losses	(119)	(81)
Fair value	55,948	63,769
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	55,242	62,516
Fair value of investment securities by contractual maturity [Abstract]
Fair value	55,948	63,769
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	7,595	17,096
12 months or longer	11,272	100
Fair value	18,867	17,196
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(17)	(80)
12 months or longer	(102)	(1)
Unrealized loss	(119)	(81)
Other Debt Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	15,002	15,005
Gross unrealized gains	0	12
Gross unrealized losses	(1,816)	(492)
Fair value	13,186	14,525
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	15,002	15,005
Fair value of investment securities by contractual maturity [Abstract]
Fair value	13,186	14,525
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0	0
12 months or longer	13,186	9,508
Fair value	13,186	9,508
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0	0
12 months or longer	(1,816)	(492)
Unrealized loss	(1,816)	(492)
Debt Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	70,244	80,021
Gross unrealized gains	825	1,346
Gross unrealized losses	(1,935)	(576)
Fair value	69,134	80,791
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	70,244	80,021
Fair value of investment securities by contractual maturity [Abstract]
Fair value	$ 69,134	80,791
Certificates of Deposit [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost		980
Gross unrealized gains		1
Gross unrealized losses		0
Fair value		981
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost		980
Fair value of investment securities by contractual maturity [Abstract]
Fair value		981
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months		0
12 months or longer		0
Fair value		0
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months		0
12 months or longer		0
Unrealized loss		$ 0

Securities, Part II (Details)

Securities, Part II (Details)	12 Months Ended
	Dec. 31, 2018USD ($)Security	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)
Other than Temporary Impairment [Abstract]
Gain on sale	$ 0	$ (107,000)	$ 0
Indexed period for transition of fixed interest rate to floating interest rate	10 years
Other-than-temporary impairment charges recognized in other comprehensive loss [Roll Forward]
Credit-related impairments on securities as of beginning of period	$ 94,000	94,000
Credit related impairments related to a security for which other-than-temporaryimpairment was not previously recognized	0	0
Additional credit impairments on securities	0	0
Credit-related impairments on securities as of end of period	$ 94,000	$ 94,000	$ 94,000
Mortgage-Backed Securities [Member]
Other than Temporary Impairment [Abstract]
Number of securities that were in unrealized loss position twelve months or longer | Security	43
Government-Sponsored Enterprise Bonds [Member]
Other than Temporary Impairment [Abstract]
Number of securities that were in unrealized loss position twelve months or longer | Security	37
Municipal Securities [Member]
Other than Temporary Impairment [Abstract]
Number of securities that were other-than-temporarily impaired | Security	1
Amortized cost	$ 116,000
Fair value	$ 94,000
Number of securities that were in unrealized loss position twelve months or longer | Security	32
Other-than-temporary impairment charges recognized in other comprehensive loss [Roll Forward]
Credit related impairments related to a security for which other-than-temporaryimpairment was not previously recognized				$ 17,000	$ 77,000
Corporate Debt Securities [Member]
Other than Temporary Impairment [Abstract]
Number of securities that were in unrealized loss position twelve months or longer | Security	2

Loans Receivable, Part I (Detai

Loans Receivable, Part I (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Mortgage Loans [Abstract]
Loans receivable	$ 1,379,148	$ 1,291,814
Percentage of total loans receivable secured by residential real estate	80.30%
Loans receivable pledged as collateral	$ 1,010,000	971,300
Advances by Federal Home Loan Bank	430,000	375,000
Loans receivable, related parties	5,300	7,000
Loans receivable, related parties, past due or impaired	0	0
Residential Real Estate [Member] | One-to-Four Family [Member]
Mortgage Loans [Abstract]
Loans receivable	489,979	439,597
Residential Real Estate [Member] | Multi Family [Member]
Mortgage Loans [Abstract]
Loans receivable	597,087	578,440
Residential Real Estate [Member] | Home Equity [Member]
Mortgage Loans [Abstract]
Loans receivable	19,956	21,124
Construction and Land [Member]
Mortgage Loans [Abstract]
Loans receivable	13,361	19,859
Commercial Real Estate [Member]
Mortgage Loans [Abstract]
Loans receivable	225,522	195,842
Consumer [Member]
Mortgage Loans [Abstract]
Loans receivable	433	255
Commercial Loans [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 32,810	$ 36,697

Loans Receivable, Part II (Deta

Loans Receivable, Part II (Details) - USD ($)		Dec. 31, 2018	Dec. 31, 2017
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 6,950,000	$ 5,852,000
Current	[1]	1,372,198,000	1,285,962,000
Total Loans		1,379,148,000	1,291,814,000
Loan Receivable, Nonaccrual Status		990,000	1,800,000
1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	1,807,000	1,562,000
Loan Receivable, 1 to 59 Days Past Due, Nonaccrual Status		422,000	241,000
60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	118,000	316,000
Loan Receivable, 60 to 89 Days Past Due, Nonaccrual Status		118,000	15,000
Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		5,025,000	3,974,000
90 or more days past due		0	0
Residential Real Estate [Member] | One-to-Four Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		5,433,000	5,156,000
Current	[1]	484,546,000	434,441,000
Total Loans		489,979,000	439,597,000
Residential Real Estate [Member] | One-to-Four Family [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	1,523,000	1,494,000
Residential Real Estate [Member] | One-to-Four Family [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	76,000	146,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		3,834,000	3,516,000
Residential Real Estate [Member] | Multi Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		937,000	320,000
Current	[1]	596,150,000	578,120,000
Total Loans		597,087,000	578,440,000
Residential Real Estate [Member] | Multi Family [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	0
Residential Real Estate [Member] | Multi Family [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	128,000
Residential Real Estate [Member] | Multi Family [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		937,000	192,000
Residential Real Estate [Member] | Home Equity [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		369,000	124,000
Current	[1]	19,587,000	21,000,000
Total Loans		19,956,000	21,124,000
Residential Real Estate [Member] | Home Equity [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	216,000	68,000
Residential Real Estate [Member] | Home Equity [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	42,000	0
Residential Real Estate [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		111,000	56,000
Construction and Land [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Current	[1]	13,361,000	19,859,000
Total Loans		13,361,000	19,859,000
Construction and Land [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	0
Construction and Land [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Construction and Land [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Commercial Real Estate [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		164,000	184,000
Current	[1]	225,358,000	195,658,000
Total Loans		225,522,000	195,842,000
Commercial Real Estate [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	39,000	0
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		125,000	184,000
Consumer [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		29,000	0
Current	[1]	404,000	255,000
Total Loans		433,000	255,000
Consumer [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	29,000	0
Consumer [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Consumer [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Commercial Loans [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		18,000	68,000
Current	[1]	32,792,000	36,629,000
Total Loans		32,810,000	36,697,000
Commercial Loans [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	0
Commercial Loans [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	42,000
Commercial Loans [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 18,000	$ 26,000
[1]	Includes $990,000 and $1.8 million for December 31, 2018 and 2017, respectively, which are on non-accrual status.
[2]	Includes $422,000 and $241,000 for December 31, 2018 and 2017, respectively, which are on non-accrual status.
[3]	Includes $118,000 and $15,000 for December 31, 2018 and 2017, respectively, which are on non-accrual status.

Loans Receivable, Part III (Det

Loans Receivable, Part III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for loan losses [Roll Forward]
Balance at beginning of period	$ 14,077	$ 16,029	$ 16,185
Provision (credit) for loan losses	(1,060)	(1,166)	380
Charge-offs	(84)	(1,477)	(1,607)
Recoveries	316	691	1,071
Balance at end of period	13,249	14,077	16,029
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	186	155
Allowance related to loans collectively evaluated for impairment	13,063	13,922
Loans individually evaluated for impairment	12,100	9,176
Loans collectively evaluated for impairment	1,367,048	1,282,638
Total gross loans	1,379,148	1,291,814
Residential Real Estate [Member] | One-to-Four Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,794	7,164	7,763
Provision (credit) for loan losses	(142)	(299)	(407)
Charge-offs	(69)	(1,364)	(1,003)
Recoveries	159	293	811
Balance at end of period	5,742	5,794	7,164
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	73	77
Allowance related to loans collectively evaluated for impairment	5,669	5,717
Loans individually evaluated for impairment	7,642	7,418
Loans collectively evaluated for impairment	482,337	432,179
Total gross loans	489,979	439,597
Residential Real Estate [Member] | Multi Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	4,431	4,809	5,000
Provision (credit) for loan losses	(353)	(494)	146
Charge-offs	(14)	(92)	(489)
Recoveries	89	208	152
Balance at end of period	4,153	4,431	4,809
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	0	0
Allowance related to loans collectively evaluated for impairment	4,153	4,431
Loans individually evaluated for impairment	1,309	1,007
Loans collectively evaluated for impairment	595,778	577,433
Total gross loans	597,087	578,440
Residential Real Estate [Member] | Home Equity [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	356	364	433
Provision (credit) for loan losses	(56)	(34)	7
Charge-offs	(1)	0	(112)
Recoveries	26	26	36
Balance at end of period	325	356	364
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	46	44
Allowance related to loans collectively evaluated for impairment	279	312
Loans individually evaluated for impairment	246	185
Loans collectively evaluated for impairment	19,710	20,939
Total gross loans	19,956	21,124
Construction and Land [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	949	1,016	904
Provision (credit) for loan losses	(589)	(215)	43
Charge-offs	0	(14)	(3)
Recoveries	40	162	72
Balance at end of period	400	949	1,016
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	0	0
Allowance related to loans collectively evaluated for impairment	400	949
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	13,361	19,859
Total gross loans	13,361	19,859
Commercial Real Estate [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	1,881	1,951	1,680
Provision (credit) for loan losses	243	(64)	271
Charge-offs	0	(7)	0
Recoveries	2	1	0
Balance at end of period	2,126	1,881	1,951
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	67	34
Allowance related to loans collectively evaluated for impairment	2,059	1,847
Loans individually evaluated for impairment	2,885	540
Loans collectively evaluated for impairment	222,637	195,302
Total gross loans	225,522	195,842
Consumer [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	10	12	9
Provision (credit) for loan losses	10	(3)	3
Charge-offs	0	0	0
Recoveries	0	1	0
Balance at end of period	20	10	12
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	0	0
Allowance related to loans collectively evaluated for impairment	20	10
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	433	255
Total gross loans	433	255
Commercial [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	656	713	396
Provision (credit) for loan losses	(173)	(57)	317
Charge-offs	0	0	0
Recoveries	0	0	0
Balance at end of period	483	656	$ 713
Summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class [Abstract]
Allowance related to loans individually evaluated for impairment	0	0
Allowance related to loans collectively evaluated for impairment	483	656
Loans individually evaluated for impairment	18	26
Loans collectively evaluated for impairment	32,792	36,671
Total gross loans	$ 32,810	$ 36,697

Loans Receivable, Part IV (Deta

Loans Receivable, Part IV (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable [Abstract]
At December 31, 2016	$ 1,379,148,000	$ 1,291,814,000
Loans requiring an officers' loans committee review and approval, minimum	500,000
Minimum amount of potential loan exposure to be reviewed by credit management personnel	$ 1,000,000
Maximum period of time loan is reviewed if renewed	1 year
Period of time sales of real estate owned fair value is based	2 years
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	$ 3,062,000	1,016,000
Total Impaired, with no Reserve, Recorded Investment	9,038,000	8,160,000
Total Impaired, Recorded Investment	12,100,000	9,176,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	3,471,000	1,425,000
Total Impaired with no Reserve, Unpaid Principal Balance	10,811,000	10,106,000
Total Impaired, Unpaid Principal Balance, Total	14,282,000	11,531,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	186,000	155,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	186,000	155,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	409,000	409,000
Total Impaired with no Reserve, Cumulative Charge-offs	1,773,000	1,946,000
Total Impaired, Cumulative Charge-offs	2,182,000	2,355,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	4,638,000	1,039,000
Total Impaired with no Reserve, Average Recorded Investment	9,306,000	8,451,000
Total Impaired, Average Recorded Investment, Total	13,944,000	9,490,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	220,000	58,000
Total Impaired with no Reserve, Interest Paid YTD	499,000	477,000
Total Impaired, Interest Paid YTD	719,000	535,000
Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	10,921,000	11,563,000
Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	10,870,000	6,706,000
Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	1,357,357,000	1,273,545,000
Residential Real Estate [Member] | One-to-Four Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	489,979,000	439,597,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	462,000	903,000
Total Impaired, with no Reserve, Recorded Investment	7,180,000	6,515,000
Total Impaired, Recorded Investment	7,642,000	7,418,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	462,000	903,000
Total Impaired with no Reserve, Unpaid Principal Balance	8,120,000	7,604,000
Total Impaired, Unpaid Principal Balance, Total	8,582,000	8,507,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	73,000	77,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	73,000	77,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	940,000	1,089,000
Total Impaired, Cumulative Charge-offs	940,000	1,089,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	470,000	913,000
Total Impaired with no Reserve, Average Recorded Investment	7,355,000	6,796,000
Total Impaired, Average Recorded Investment, Total	7,825,000	7,709,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	32,000	52,000
Total Impaired with no Reserve, Interest Paid YTD	383,000	359,000
Total Impaired, Interest Paid YTD	415,000	411,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	7,799,000	7,581,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	4,662,000	4,939,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	477,518,000	427,077,000
Residential Real Estate [Member] | Multi Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	597,087,000	578,440,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	0
Total Impaired, with no Reserve, Recorded Investment	1,309,000	1,007,000
Total Impaired, Recorded Investment	1,309,000	1,007,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	2,142,000	1,864,000
Total Impaired, Unpaid Principal Balance, Total	2,142,000	1,864,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0	0
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	0	0
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	833,000	857,000
Total Impaired, Cumulative Charge-offs	833,000	857,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	1,351,000	1,005,000
Total Impaired, Average Recorded Investment, Total	1,351,000	1,005,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	96,000	94,000
Total Impaired, Interest Paid YTD	96,000	94,000
Residential Real Estate [Member] | Multi Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	1,309,000	1,135,000
Residential Real Estate [Member] | Multi Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	491,000	330,000
Residential Real Estate [Member] | Multi Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	595,287,000	576,975,000
Residential Real Estate [Member] | Home Equity [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	19,956,000	21,124,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	107,000	79,000
Total Impaired, with no Reserve, Recorded Investment	139,000	106,000
Total Impaired, Recorded Investment	246,000	185,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	107,000	79,000
Total Impaired with no Reserve, Unpaid Principal Balance	139,000	106,000
Total Impaired, Unpaid Principal Balance, Total	246,000	185,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	46,000	44,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	46,000	44,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	0	0
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	110,000	83,000
Total Impaired with no Reserve, Average Recorded Investment	144,000	111,000
Total Impaired, Average Recorded Investment, Total	254,000	194,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	7,000	6,000
Total Impaired with no Reserve, Interest Paid YTD	5,000	5,000
Total Impaired, Interest Paid YTD	12,000	11,000
Residential Real Estate [Member] | Home Equity [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	246,000	138,000
Residential Real Estate [Member] | Home Equity [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	468,000	401,000
Residential Real Estate [Member] | Home Equity [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	19,242,000	20,585,000
Construction and Land [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	13,361,000	19,859,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	0
Total Impaired, with no Reserve, Recorded Investment	0	0
Total Impaired, Recorded Investment	0	0
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	0	0
Total Impaired, Unpaid Principal Balance, Total	0	0
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0	0
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	0	0
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	0	0
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	0	0
Total Impaired, Average Recorded Investment, Total	0	0
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	0	0
Total Impaired, Interest Paid YTD	0	0
Construction and Land [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	0	0
Construction and Land [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	0	0
Construction and Land [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	13,361,000	19,859,000
Commercial Real Estate [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	225,522,000	195,842,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	2,493,000	34,000
Total Impaired, with no Reserve, Recorded Investment	392,000	506,000
Total Impaired, Recorded Investment	2,885,000	540,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	2,902,000	443,000
Total Impaired with no Reserve, Unpaid Principal Balance	392,000	506,000
Total Impaired, Unpaid Principal Balance, Total	3,294,000	949,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	67,000	34,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	67,000	34,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	409,000	409,000
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	409,000	409,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	4,058,000	43,000
Total Impaired with no Reserve, Average Recorded Investment	431,000	513,000
Total Impaired, Average Recorded Investment, Total	4,489,000	556,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	181,000	0
Total Impaired with no Reserve, Interest Paid YTD	15,000	19,000
Total Impaired, Interest Paid YTD	196,000	19,000
Commercial Real Estate [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	678,000	1,124,000
Commercial Real Estate [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	4,343,000	295,000
Commercial Real Estate [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	220,501,000	194,423,000
Consumer [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	433,000	255,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	0
Total Impaired, with no Reserve, Recorded Investment	0	0
Total Impaired, Recorded Investment	0	0
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	0	0
Total Impaired, Unpaid Principal Balance, Total	0	0
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0	0
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	0	0
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	0	0
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	0	0
Total Impaired, Average Recorded Investment, Total	0	0
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	0	0
Total Impaired, Interest Paid YTD	0	0
Consumer [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	0	0
Consumer [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	0	0
Consumer [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	433,000	255,000
Commercial [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	32,810,000	36,697,000
Minimum amount of potential loan exposure to be reviewed by credit management personnel	200,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	0
Total Impaired, with no Reserve, Recorded Investment	18,000	26,000
Total Impaired, Recorded Investment	18,000	26,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	18,000	26,000
Total Impaired, Unpaid Principal Balance, Total	18,000	26,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0	0
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	0	0
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	0	0
Total Impaired, Cumulative Charge-offs	0	0
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	25,000	26,000
Total Impaired, Average Recorded Investment, Total	25,000	26,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	0	0
Total Impaired, Interest Paid YTD	0	0
Commercial [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	889,000	1,585,000
Commercial [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	906,000	741,000
Commercial [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	$ 31,015,000	$ 34,371,000

Loans Receivable, Part V (Detai

Loans Receivable, Part V (Details)	12 Months Ended
	Dec. 31, 2018USD ($)PaymentLoan	Dec. 31, 2017USD ($)Loan
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 6,732,000	$ 5,082,000
Total number of troubled debt restructurings | Loan	12	15
Valuation allowance with respect to troubled debt restructurings	$ 67,000	$ 34,000
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 6,186,000	$ 4,422,000
Number of loans performing in accordance with modified terms | Loan	10	13
Loans Receivable, Modifications, Loans in Default	$ 546,000	$ 660,000
Number of Loans in Default | Loan	2	2
Loans Receivable, Modifications, Total	$ 6,732,000	$ 5,082,000
Number of Loans, Total | Loan	12	15
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 2,476,000	$ 0
Number of loans modified as a troubled debt restructuring | Loan	1	0
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 6,555,000	$ 6,068,000
Ratio of total non-accrual loans to total loans, net of allowance	0.48%	0.47%
Ratio of total non-accrual loans to total assets	0.34%	0.34%
Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 3,584,000	$ 3,896,000
Total number of troubled debt restructurings | Loan	7	9
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 4,902,000	$ 4,677,000
Residential Real Estate [Member] | Multi Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 372,000	$ 815,000
Total number of troubled debt restructurings | Loan	2	3
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 1,309,000	$ 1,007,000
Residential Real Estate [Member] | Home Equity [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring		$ 47,000
Total number of troubled debt restructurings | Loan		1
Non-accrual Loans [Abstract]
Total non-accrual loans	201,000	$ 107,000
Construction and Land [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	0	0
Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 2,776,000	$ 324,000
Total number of troubled debt restructurings | Loan	3	2
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 2,476,000	$ 0
Number of loans modified as a troubled debt restructuring | Loan	1	0
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 125,000	$ 251,000
Commercial [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	18,000	26,000
Consumer [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 0	0
Minimum [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Period of principal forbearance, reduction in interest rate or both included in typical restructured terms	6 months
Minimum number of consecutive contractual payments received prior to consideration for a return to accrual status | Payment	6
Maximum [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Period of principal forbearance, reduction in interest rate or both included in typical restructured terms	12 months
Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 5,499,000	$ 3,077,000
Total number of troubled debt restructurings | Loan	4	4
Accruing [Member] | Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 2,740,000	$ 2,740,000
Total number of troubled debt restructurings | Loan	2	2
Accruing [Member] | Residential Real Estate [Member] | Multi Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 0	$ 0
Total number of troubled debt restructurings | Loan	0	0
Accruing [Member] | Residential Real Estate [Member] | Home Equity [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring		$ 47,000
Total number of troubled debt restructurings | Loan		1
Accruing [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 2,759,000	$ 290,000
Total number of troubled debt restructurings | Loan	2	1
Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,233,000	$ 2,005,000
Total number of troubled debt restructurings | Loan	8	11
Non-Accruing [Member] | Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 844,000	$ 1,156,000
Total number of troubled debt restructurings | Loan	5	7
Non-Accruing [Member] | Residential Real Estate [Member] | Multi Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 372,000	$ 815,000
Total number of troubled debt restructurings | Loan	2	3
Non-Accruing [Member] | Residential Real Estate [Member] | Home Equity [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring		$ 0
Total number of troubled debt restructurings | Loan		0
Non-Accruing [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 17,000	$ 34,000
Total number of troubled debt restructurings | Loan	1	1
Interest Reduction and Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 5,848,000	$ 4,022,000
Number of loans performing in accordance with modified terms | Loan	7	9
Loans Receivable, Modifications, Loans in Default	$ 546,000	$ 660,000
Number of Loans in Default | Loan	2	2
Loans Receivable, Modifications, Total	$ 6,394,000	$ 4,682,000
Number of Loans, Total | Loan	9	11
Interest Reduction [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 338,000	$ 353,000
Number of loans performing in accordance with modified terms | Loan	3	3
Loans Receivable, Modifications, Loans in Default	$ 0	$ 0
Number of Loans in Default | Loan	0	0
Loans Receivable, Modifications, Total	$ 338,000	$ 353,000
Number of Loans, Total | Loan	3	3
Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms		$ 47,000
Number of loans performing in accordance with modified terms | Loan		1
Loans Receivable, Modifications, Loans in Default		$ 0
Number of Loans in Default | Loan		0
Loans Receivable, Modifications, Total		$ 47,000
Number of Loans, Total | Loan		1

Office Properties and Equipme_3

Office Properties and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Office properties and equipment [Abstract]
Office properties and equipment, gross	$ 53,348	$ 50,840
Less accumulated depreciation	(28,824)	(27,899)
Office properties and equipment, net	24,524	22,941
Depreciation of premises and equipment	2,296	2,050	$ 2,615
Rent expense totaled	5,200	4,800	$ 4,400
Minimum annual commitments under all non-cancelable lease agreements [Abstract]
Within one year	3,454
One to two years	2,598
Two to three years	1,626
Three to four years	1,021
Four through five years	792
After five years	914
Total	10,405
Land [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	7,357	6,668
Office Buildings and Improvements [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	32,473	30,587
Furniture and Equipment [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	$ 13,518	$ 13,585

Real Estate Owned (Details)

Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Abstract]
Real estate owned, net	$ 2,152	$ 4,558	$ 6,118
Transferred from loans receivable	545	2,171
Sales	(2,642)	(3,213)
Write downs	(309)	(514)
Other activity	0	(4)
Mortgage loans in process of foreclosure	2,200	2,300
One-to-Four Family [Member]
Real Estate [Abstract]
Real estate owned, net	163	1,330
Multi Family [Member]
Real Estate [Abstract]
Real estate owned, net	0	0
Construction and Land [Member]
Real Estate [Abstract]
Real estate owned, net	3,327	4,582
Commercial Real Estate [Member]
Real Estate [Abstract]
Real estate owned, net	300	300
Real Estate Owned Prior To Valuation Allowance [Member]
Real Estate [Abstract]
Real estate owned, net	3,790	6,212
Valuation Allowance, Real Estate Owned [Member]
Real Estate [Abstract]
Valuation allowance at end of period	$ (1,638)	$ (1,654)

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Mortgage servicing rights [Roll Forward]
Mortgage servicing rights, beginning balance	$ 888,000	$ 2,260,000
Additions	427,000	998,000
Amortization	(191,000)	(106,000)
Sales	(1,015,000)	(2,264,000)
Mortgage servicing rights, end of period net	109,000	888,000
Valuation allowance at end of period	0	0
Mortgage servicing rights, end of period net	109,000	888,000
MSR Sales [Abstract]
Loans Originated for Sale - Residential	2,510,000,000
Sales of loans held for sale	2,520,000,000
Generated mortgage banking income	113,200,000
Loans sold on a servicing retained basis	14,100,000	126,300,000
Mortgage servicing rights sold	148,700,000	295,100,000
Mortgage servicing rights book value	1,000,000	2,300,000
Sold mortgage servicing rights	1,400,000	2,500,000
Gain on sale of MSR	417,000	$ 178,000
Mortgage Servicing Rights [Member]
Estimated future servicing rights amortization expense by period [Abstract]
2,019	25,000
2,020	21,000
2,021	18,000
2,022	15,000
2,023	12,000
Thereafter	18,000
Total	$ 109,000

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deposits [Abstract]
Time Deposits	$ 60,100	$ 45,900
Summary of interest expense on deposits [Abstract]
Interest-bearing demand deposits	33	28	$ 19
Money market and savings deposits	599	401	392
Time deposits	10,995	7,310	6,953
Interest expense on deposits	11,627	7,739	$ 7,364
Summary of the contractual maturities of time deposits [Abstract]
Within one year	472,540
One to two years	238,524
Two to three years	21,573
Three to four years	2,245
Four through five years	991
Time deposits	$ 735,873	$ 688,979

Borrowings (Details)

Borrowings (Details) $ in Thousands	Dec. 31, 2018USD ($)Agreement	Dec. 31, 2017USD ($)
Debt Instruments [Abstract]
Long-term borrowings	$ 435,046	$ 386,285
Total commitment on repurchase agreements	$ 35,000
Percentage of carrying value of qualifying of one-to-four family loans	80.00%
Percentage of carrying value of qualifying home equity loans	64.00%
Percentage of carrying value of qualifying of over four-family loans	75.00%
FHLBC stock as collateral	$ 19,400	16,900
FHLB Single Call Option in May 2019 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2,027
Number of Federal Home Loan Bank Advances | Agreement	1
FHLB Single Call Option in May 2019 [Member] | Minimum [Member]
Debt Instruments [Abstract]
Interest rate	1.24%
FHLB Single Call Option in June 2019 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2,027
Number of Federal Home Loan Bank Advances | Agreement	1
FHLB Single Call Option in June 2019 [Member] | Minimum [Member]
Debt Instruments [Abstract]
Interest rate	1.23%
FHLB Single Call Option in August 2019 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 25,000
FHLB, year of maturity	2,027
Number of Federal Home Loan Bank Advances | Agreement	1
FHLB Single Call Option in August 2019 [Member] | Minimum [Member]
Debt Instruments [Abstract]
Interest rate	1.23%
FHLB Single Call Option in December 2019 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2,027
Number of Federal Home Loan Bank Advances | Agreement	1
FHLB Single Call Option in December 2019 [Member] | Minimum [Member]
Debt Instruments [Abstract]
Interest rate	1.73%
FHLB Single Call Option in March 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 25,000
FHLB, year of maturity	2,028
Number of Federal Home Loan Bank Advances | Agreement	1
FHLB Single Call Option in March 2020 [Member] | Minimum [Member]
Debt Instruments [Abstract]
Interest rate	2.16%
FHLB Single Call Option in March 2021 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 55,000
FHLB, year of maturity	2,028
Number of Federal Home Loan Bank Advances | Agreement	2
Interest rate	2.27%
FHLB Single Call Option in May 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 25,000
FHLB, year of maturity	2,028
Number of Federal Home Loan Bank Advances | Agreement	1
Interest rate	2.40%
FHLB Single Call Option in May 2021 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2,028
Number of Federal Home Loan Bank Advances | Agreement	2
FHLB Single Call Option in May 2021 [Member] | Minimum [Member]
Debt Instruments [Abstract]
Interest rate	2.34%
FHLB Single Call Option in May 2021 [Member] | Maximum [Member]
Debt Instruments [Abstract]
Interest rate	2.48%
FHLB Quarterly Call Option in June 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2,028
Number of Federal Home Loan Bank Advances | Agreement	1
Interest rate	2.34%
FHLB Quarterly Call Option in September 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2,028
Number of Federal Home Loan Bank Advances | Agreement	1
Interest rate	2.57%
Repurchase Agreements [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 5,046	$ 11,285
Weighted average rate	5.39%	4.32%
Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 0	$ 35,000
Weighted average rate	0.00%	1.28%
Long-term borrowings	$ 435,046	$ 386,285
Weighted average rate	2.01%	1.57%
Long Term Debt Maturing 2018 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 0	$ 65,000
Weighted average rate	0.00%	2.97%
Long Term Debt Maturing 2021 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 0	$ 100,000
Weighted average rate	0.00%	0.78%
Long Term Debt Maturing 2027 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 175,000	$ 175,000
Weighted average rate	1.38%	1.38%
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 255,000	$ 0
Weighted average rate	2.37%	0.00%

Regulatory Capital (Details)

Regulatory Capital (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 414,566	$ 426,057
Tier I capital (to risk-weighted assets)	401,317	411,980
Common Equity Tier 1 Capital (to risk-weighted assets)	401,317	411,980
Tier I capital (to average assets)	$ 401,317	$ 411,980
Total capital (to risk-weighted assets) Ratio	28.22%	30.75%
Tier I capital (to risk-weighted assets) Ratio	27.32%	29.74%
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	27.32%	29.74%
Tier I capital (to average assets) Ratio	21.06%	22.43%
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 117,506	$ 110,829
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	88,130	83,122
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	66,097	62,341
Tier I capital (to average assets), For Capital Adequacy Purposes	$ 76,214	$ 73,481
Total capital (to risk-weighted assets), For Capital Adequacy Ratio	8.00%	8.00%
Tier I capital (to risk-weighted assets), For Capital Adequacy Ratio	6.00%	6.00%
Common Equity Tier I capital (to risk-weighted), For Capital Adequacy Ratio	4.50%	4.50%
Tier I capital (to average assets), For Capital Adequacy Ratio	4.00%	4.00%
Total Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	$ 145,046	$ 128,146
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	115,670	100,439
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	$ 93,638	$ 79,658
Total Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	9.88%	9.25%
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	7.88%	7.25%
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	6.38%	5.75%
Waterstone Bank [Member]
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 395,783	$ 400,792
Tier I capital (to risk-weighted assets)	382,534	386,715
Common Equity Tier 1 Capital (to risk-weighted assets)	382,534	386,715
Tier I capital (to average assets)	382,534	386,715
State of Wisconsin (to total assets)	$ 382,534	$ 386,715
Total capital (to risk-weighted assets) Ratio	26.95%	28.93%
Tier I capital (to risk-weighted assets) Ratio	26.05%	27.92%
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	26.05%	27.92%
Tier I capital (to average assets) Ratio	20.08%	21.10%
State of Wisconsin (to total assets) Ratio	20.01%	21.44%
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 117,490	$ 110,812
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	88,118	83,109
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	66,088	62,332
Tier I capital (to average assets), For Capital Adequacy Purposes	76,214	73,304
State of Wisconsin (to total assets), For Capital Adequacy Purposes	$ 114,712	$ 108,243
Total capital (to risk-weighted assets), For Capital Adequacy Ratio	8.00%	8.00%
Tier I capital (to risk-weighted assets), For Capital Adequacy Ratio	6.00%	6.00%
Common Equity Tier I capital (to risk-weighted), For Capital Adequacy Ratio	4.50%	4.50%
Tier I capital (to average assets), For Capital Adequacy Ratio	4.00%	4.00%
State of Wisconsin (to total assets), For Capital Adequacy Ratio	6.00%	6.00%
Total Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	$ 145,027	$ 128,127
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	115,655	100,424
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	$ 93,625	$ 79,646
Total Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	9.88%	9.25%
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	7.88%	7.25%
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	6.38%	5.75%
Total capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 146,863	$ 138,515
Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	117,490	110,812
Common Equity Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	95,461	90,035
Tier I capital (to average assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 95,268	$ 91,630
Total capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	10.00%	10.00%
Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	8.00%	8.00%
Common Equity Tier I capital (to risk-weighted), To Be Well-Capitalized Under Prompt Corrective Action Provisions	6.50%	6.50%
Tier I capital (to average assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	5.00%	5.00%

Stock Based Compensation (Detai

Stock Based Compensation (Details)	12 Months Ended
	Dec. 31, 2018USD ($)Installment$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares
Stock option activity shares [Roll Forward]
Outstanding, beginning balance (in shares)	1,159,099	1,362,499	2,103,047
Options exercisable, beginning balance (in shares)	331,097	304,595	810,255
Granted (in shares)	80,000	20,000	55,000
Exercised (in shares)	(106,030)	(211,205)	(736,548)
Forfeited (in shares)	(72,000)	(12,195)	(59,000)
Outstanding, ending balance (in shares)	1,061,069	1,159,099	1,362,499	2,103,047
Options exercisable, ending balance (in shares)	421,068	331,097	304,595	810,255
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 12.89	$ 11.83	$ 12.90
Options exercisable, beginning balance (in dollars per share) | $ / shares	12.53	9.66	14.25
Granted (in dollars per share) | $ / shares	17.23	18.78	15.54
Exercised (in dollars per share) | $ / shares	12.30	6.48	15.04
Forfeited (in dollars per share) | $ / shares	13.97	14.83	13.15
Outstanding, ending balance (in dollars per share) | $ / shares	13.21	12.89	11.83	$ 12.90
Options exercisable, ending balance (in dollars per share) | $ / shares	$ 12.78	$ 12.53	$ 9.66	$ 14.25
Weighted Average Years Remaining in Contractual Term [Abstract]
Outstanding, Weighted Average Years Remaining in Contractual Term	6 years 5 months 19 days	7 years 2 months 26 days	7 years 8 months 26 days	6 years 1 month 24 days
Options exercisable, Weighted Average Years Remaining in Contractual Term	6 years 2 months 23 days	7 years 1 month 6 days	6 years 5 months 8 days	1 year 7 months 17 days
Aggregate Intrinsic Value [Abstract]
Outstanding, Aggregate Intrinsic Value, beginning period | $	$ 4,870,000	$ 8,785,000	$ 2,533,000
Options exercisable, Aggregate Intrinsic Value, beginning period | $	1,501,000	2,625,000	(123,000)
Granted, Aggregate Intrinsic Value | $	3,000	(35,000)	151,000
Exercised, Aggregate Intrinsic Value | $	473,000	2,233,000	2,388,000
Forfeited, Aggregate Intrinsic Value | $	224,000	27,000	303,000
Outstanding, Aggregate Intrinsic Value, ending period | $	3,850,000	4,870,000	8,785,000	$ 2,533,000
Options exercisable, Aggregate Intrinsic Value, ending period | $	$ 1,688,000	$ 1,501,000	$ 2,625,000	$ (123,000)
Stock Options Outstanding [Abstract]
Options Outstanding Summary	1,061,069
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 13.21
Options Outstanding Remaining Life Years	6 years 5 months 19 days
Options Exercisable Range of Exercise Prices	421,068
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 12.78
Options Exercisable Remaining Life Years	6 years 2 months 23 days
Nonvested stock option and restricted stock shares [Roll Forward]
Granted (in shares)	80,000	20,000	55,000
Vested (in shares)	(4,000)	0	0
Forfeited (in shares)	(72,000)	(12,195)	(59,000)
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Unrecognized stock based compensation expense | $	$ 1,700,000
Unrecognized stock based compensation expense recognize period	27 months
Minimum [Member]
Schedule for assumptions for estimating the fair value of options granted [Abstract]
Dividend Yield	2.70%	2.48%
Risk-free interest rate	2.57%	1.80%
Expected volatility	16.27%	27.79%
Weighted average expected life	5 years 4 months 24 days	5 years 3 months 18 days
Weighted average per share value of options (in dollars per share) | $ / shares	$ 1.97	$ 4.01
Maximum [Member]
Schedule for assumptions for estimating the fair value of options granted [Abstract]
Dividend Yield	2.74%	2.71%
Risk-free interest rate	2.96%	1.93%
Expected volatility	30.88%	32.54%
Weighted average expected life	6 years 2 months 12 days	5 years 6 months
Weighted average per share value of options (in dollars per share) | $ / shares	$ 4.26	$ 4.63
$0.01 - $5.00 [Member]
Stock Options Outstanding [Abstract]
Options Outstanding Summary	4,237
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 1.73
Options Outstanding Remaining Life Years	3 years 4 days
Options Exercisable Range of Exercise Prices	4,237
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 1.73
Options Exercisable Remaining Life Years	3 years 4 days
$5.01 - $10.00 [Member]
Stock Options Outstanding [Abstract]
Options Outstanding Summary	0
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 0
Options Outstanding Remaining Life Years	0 years
Options Exercisable Range of Exercise Prices	0
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 0
Options Exercisable Remaining Life Years	0 years
$10.01 - $15.00 [Member]
Stock Options Outstanding [Abstract]
Options Outstanding Summary	956,832
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 12.82
Options Outstanding Remaining Life Years	6 years 2 months 19 days
Options Exercisable Range of Exercise Prices	408,831
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 12.82
Options Exercisable Remaining Life Years	6 years 2 months 19 days
Over $15.01 [Member]
Stock Options Outstanding [Abstract]
Options Outstanding Summary	100,000
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 17.54
Options Outstanding Remaining Life Years	9 years 18 days
Options Exercisable Range of Exercise Prices	8,000
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 18.23
Options Exercisable Remaining Life Years	8 years 2 months 23 days
Stock Options [Member]
Nonvested stock option and restricted stock shares [Roll Forward]
Nonvested, beginning period (in shares)	828,002	1,057,904
Granted (in shares)	80,000	20,000
Vested (in shares)	(200,001)	(237,707)
Forfeited (in shares)	(68,000)	(12,195)
Nonvested, ending period (in shares)	640,001	828,002	1,057,904
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Nonvested, beginning period (in dollars per share) | $ / shares	$ 3.27	$ 3.16
Granted (in dollars per share) | $ / shares	3.66	4.26
Vested (in dollars per share) | $ / shares	3.27	2.87
Forfeited (in dollars per share) | $ / shares	3.46	3.55
Nonvested, ending period (in dollars per share) | $ / shares	$ 3.30	$ 3.27	$ 3.16
Share-based compensation expense | $	$ 608,000	$ 638,000	$ 641,000
Restricted Stock [Member]
Nonvested stock option and restricted stock shares [Roll Forward]
Nonvested, beginning period (in shares)	259,200	378,762
Granted (in shares)	0	0
Vested (in shares)	(93,100)	(119,562)
Forfeited (in shares)	(3,500)	0
Nonvested, ending period (in shares)	162,600	259,200	378,762
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Nonvested, beginning period (in dollars per share) | $ / shares	$ 12.85
Granted (in dollars per share) | $ / shares	0	$ 0
Vested (in dollars per share) | $ / shares	12.84	11.39	$ 12.39
Forfeited (in dollars per share) | $ / shares	12.75	0
Nonvested, ending period (in dollars per share) | $ / shares	$ 12.85	$ 12.85
Share-based compensation expense | $	$ 1,200,000	$ 1,300,000	$ 1,300,000
Unrecognized stock based compensation expense | $	$ 1,100,000
Unrecognized stock based compensation expense recognize period	32 months
2006 Equity Incentive Plan [Member]
Share-based Arrangements by Share-based Payment Award [Abstract]
Vesting period	5 years
Award grant life	10 years
Stock expiration term	10 years
2015 Equity Incentive Plan [Member] | Stock Options [Member]
Share-based Arrangements by Share-based Payment Award [Abstract]
Number of shares authorized (in shares)	2,530,000
Number of shares available future issuance (in shares)	1,317,000
Award grant life	10 years
Stock expiration term	10 years
2015 Equity Incentive Plan [Member] | Stock Options [Member] | Employee [Member]
Share-based Arrangements by Share-based Payment Award [Abstract]
Vesting period	5 years
2015 Equity Incentive Plan [Member] | Stock Options [Member] | Director [Member]
Share-based Arrangements by Share-based Payment Award [Abstract]
Vesting period	8 years
Number of installments for stock vesting in 7 years | Installment	8
Number of installments for stock vesting in immediately | Installment	1
2015 Equity Incentive Plan [Member] | Restricted Stock [Member]
Share-based Arrangements by Share-based Payment Award [Abstract]
Number of shares authorized (in shares)	1,012,000
Number of shares available future issuance (in shares)	466,000
2015 Equity Incentive Plan [Member] | Restricted Stock [Member] | Employee [Member]
Share-based Arrangements by Share-based Payment Award [Abstract]
Number of installments for stock vesting in 4 years | Installment	5
Number of installments for stock vesting in immediately | Installment	1

Employee Benefit Plans (Details

Employee Benefit Plans (Details)	12 Months Ended
	Dec. 31, 2018USD ($)Plan	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Defined Benefit Plan [Abstract]
Number of 401(k) profit sharing plans | Plan	2
Contributions to the Plans | $	$ 971,000	$ 825,000	$ 759,000
Waterstone Bank [Member]
Defined Benefit Plan [Abstract]
Minimum age criteria for participation in benefit plan	18 years
Waterstone Mortgage [Member]
Defined Benefit Plan [Abstract]
Minimum age criteria for participation in benefit plan	18 years

Employee Stock Ownership Plan_2

Employee Stock Ownership Plan (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2014USD ($)shares
Employee Stock Ownership Plan [Abstract]
Minimum employee age	21 years
Minimum employee tenure	12 months
Minimum service hour required for employee stock option plan	1,000
Borrowings under stock ownership plan | $				$ 23.8
Common stock open market purchase (in shares)				2,107,561
Additional shares purchased (in shares)				2,024,000
Amount of share released	one-twentieth
Tenure of shares earned	20 years
Compensation expense attributed to the ESOP | $	$ 1.8	$ 2	$ 1.6
Aggregate activity of unearned ESOP shares [Abstract]
Beginning ESOP shares (in shares)	1,686,049	1,791,427
Shares committed to be released (in shares)	(105,378)	(105,378)
Unreleased shares (in shares)	1,580,671	1,686,049
Fair value of unreleased shares | $	$ 26.5	$ 28.7
2005 Plan [Member]
Employee Stock Ownership Plan [Abstract]
Common stock open market purchase (in shares)				83,561

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current [Abstract]
Federal		$ 7,087,000	$ 13,028,000	$ 12,255,000
State		1,904,000	2,362,000	2,643,000
Current Total		8,991,000	15,390,000	14,898,000
Deferred [Abstract]
Federal		452,000	2,960,000	1,084,000
State		83,000	119,000	480,000
Deferred Total		535,000	3,079,000	1,564,000
Total		9,526,000	18,469,000	16,462,000
Differential income tax provisions computed at the Federal statutory corporate tax rate [Abstract]
Income before income taxes		40,280,000	44,433,000	41,994,000
Tax at Federal statutory rate (21% in 2018, 35% in 2017 and 2016)		8,459,000	15,552,000	14,698,000
Add (deduct) effect of [Abstract]
State income taxes net of Federal income tax benefit		1,570,000	1,613,000	2,030,000
Cash surrender value of life insurance		(388,000)	(632,000)	(619,000)
Non-deductible ESOP and stock option expense		188,000	380,000	268,000
Tax-exempt interest income		(248,000)	(449,000)	(529,000)
Non-deductible compensation		177,000	280,000	254,000
Deferred tax write off		0	0	773,000
Deferred tax asset revaluation		0	2,644,000	0
Stock compensation		(160,000)	(1,074,000)	(517,000)
Other		(72,000)	155,000	104,000
Total		$ 9,526,000	$ 18,469,000	$ 16,462,000
Effective tax rate		23.60%	41.60%	39.20%
Gross deferred tax assets [Abstract]
Fixed assets	$ 480,000	$ 0	$ 480,000
Restricted stock and stock options	466,000	526,000	466,000
Allowance for loan losses	3,451,000	3,239,000	3,451,000
Repurchase reserve for loans sold	159,000	139,000	159,000
Real estate owned	993,000	741,000	993,000
Nonaccrual interest	305,000	292,000	305,000
Capital loss carryforward	0	23,000	0
Unrealized loss on impaired securities	23,000	23,000	23,000
Unrealized loss on securities available for sale, net	0	695,000	0
Other	192,000	98,000	192,000
Total gross deferred tax assets	6,069,000	5,776,000	6,069,000
Gross deferred tax liabilities [Abstract]
Excess tax depreciation	0	(28,000)	0
Unrealized gain on securities available for sale, net	(11,000)	0	(11,000)
Mortgage Servicing Rights	(119,000)	(29,000)	(119,000)
FHLB stock	(232,000)	(68,000)	(232,000)
Deferred loan fees	(703,000)	(475,000)	(703,000)
Deferred liabilities	(1,065,000)	(600,000)	(1,065,000)
Net deferred tax assets	5,004,000	$ 5,176,000	$ 5,004,000
Operating Loss Carryforwards [Abstract]
Federal statutory rate		21.00%	35.00%	35.00%
Income tax expense (benefit)	$ 2,700,000
Retained earnings excluding federal or state taxes		$ 16,700,000
Wisconsin [Member]
Operating Loss Carryforwards [Abstract]
NOL Carryforwards		$ 24,000
Operating Loss Carryforwards, Expiration Year		2,028

Offsetting of Assets and Liab_3

Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Repurchase Agreement [Abstract]
Long term repurchase agreements	$ 435,046	$ 386,285
Net Amount [Member]
Repurchase Agreement [Abstract]
Short-term, Repurchase Agreements	0	0
Repurchase Agreements	0	0
Gross Recognized Liabilities [Member]
Repurchase Agreement [Abstract]
Short-term, Repurchase Agreements	5,046	11,285
Repurchase Agreements	5,046	11,285
Gross Amounts Offset [Member]
Repurchase Agreement [Abstract]
Short-term, Repurchase Agreements	0	0
Repurchase Agreements	0	0
Net Amounts Presented [Member]
Repurchase Agreement [Abstract]
Short-term, Repurchase Agreements	5,046	11,285
Repurchase Agreements	5,046	11,285
Gross Amounts Not Offset [Member]
Repurchase Agreement [Abstract]
Short-term, Repurchase Agreements	5,046	11,285
Repurchase Agreements	$ 5,046	$ 11,285

Commitments, Off-Balance Shee_3

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities, Commitments and Off-Balance Sheet Arrangements (Details) - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
Commitments to Extend Credit Under First Mortgage Loans [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount	[1]	$ 33,762	$ 31,543
Probable losses		0	0
Commitments to Extend Credit Under Home Equity Lines of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		14,903	14,972
Unused Portion of Construction Loans [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		79,776	17,097
Unused Portion of Business Lines of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		16,778	16,878
Standby Letters of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks liability amount		860	259
Probable losses		$ 0	$ 0
[1]	Excludes commitments to originate loans held for sale, which are discussed in the following footnote.

Commitments, Off-Balance Shee_4

Commitments, Off-Balance Sheet Arrangements and Contingent Liabilities, Contingent Liabilities (Details) - Herrington v. Waterstone Mortgage Corporation [Member]	Dec. 08, 2017USD ($)
Loss Contingencies [Abstract]
Amount of damages awarded to plaintiff	$ 7,267,919
Attorney fees	3,298,851
Incentive fees	20,000
Post arbitration fees	98,000
Minimum [Member]
Loss Contingencies [Abstract]
Estimate of possible loss	0
Maximum [Member]
Loss Contingencies [Abstract]
Estimate of possible loss	$ 11,000,000

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Forward Commitments to Sell Mortgage Loans [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	$ 276.3
Gain (loss) reported as a component of other assets	(1.1)
Interest Rate Lock Commitments [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	164.9
Gain (loss) reported as a component of other assets	$ 2

Fair Values Measurements, Fair

Fair Values Measurements, Fair Value of Assets and Liabilities Measured On Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
Available for sale securities [Abstract]
Loans held for sale		$ 141,616	$ 149,896
Recurring [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		41,631	57,435
Collateralized mortgage obligations, Government sponsored enterprise issued		74,955	60,500
Government sponsored enterprise bonds			2,497
Municipal securities		55,948	63,769
Other debt securities		13,186	14,525
Certificates of deposit			981
Loans held for sale		141,616	149,896
Mortgage banking derivative assets		2,014	2,004
Mortgage banking derivatives liabilities		1,116	0
Recurring [Member] | Level 1 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		0	0
Collateralized mortgage obligations, Government sponsored enterprise issued		0	0
Government sponsored enterprise bonds			0
Municipal securities		0	0
Other debt securities		0	0
Certificates of deposit			0
Loans held for sale		0	0
Mortgage banking derivative assets		0	0
Mortgage banking derivatives liabilities		0	0
Recurring [Member] | Level 2 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		41,631	57,435
Collateralized mortgage obligations, Government sponsored enterprise issued		74,955	60,500
Government sponsored enterprise bonds			2,497
Municipal securities		55,948	63,769
Other debt securities		13,186	14,525
Certificates of deposit			981
Loans held for sale		141,616	149,896
Mortgage banking derivative assets		0	0
Mortgage banking derivatives liabilities		0	0
Recurring [Member] | Level 3 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		0	0
Collateralized mortgage obligations, Government sponsored enterprise issued		0	0
Government sponsored enterprise bonds			0
Municipal securities		0	0
Other debt securities		0	0
Certificates of deposit			0
Loans held for sale		0	0
Mortgage banking derivative assets		2,014	2,004
Mortgage banking derivatives liabilities		1,116	0
Non-Recurring [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	2,876	861
Real estate owned		2,152	4,558
Non-Recurring [Member] | Level 1 [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	0	0
Real estate owned		0	0
Non-Recurring [Member] | Level 2 [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	0	0
Real estate owned		0	0
Non-Recurring [Member] | Level 3 [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	2,876	861
Real estate owned		$ 2,152	$ 4,558
[1]	Represents collateral-dependent impaired loans, net, which are included in loans.

Fair Values Measurements, Fai_2

Fair Values Measurements, Fair Value of Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Unrealized holding losses arising during the period [Abstract]
Loans, impaired, outstanding balance	$ 3,100,000	$ 1,000,000
Loans, impaired, specific reserve	186,000	155,000
Real estate owned, change in fair Value	309,000	514,000
Mortgage Banking Derivatives, Net [Member] | Recurring [Member]
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Beginning balance	2,004,000	3,334,000
Transfer into level 3	0	0
Mortgage derivative gain (loss), net	(1,106,000)	(1,330,000)
Ending balance	$ 898,000	$ 2,004,000

Fair Values Measurements, by Ba

Fair Values Measurements, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financial Assets [Abstract]
Securities available-for-sale	$ 185,720	$ 199,707
Loans held for sale	141,616	149,896
Financial Liabilities [Abstract]
Advance payments by borrowers for taxes	4,371	4,876
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and cash equivalents	86,101	48,607
Securities available-for-sale	185,720	199,707
Loans held for sale	141,616	149,896
Loans receivable	1,379,148	1,291,814
FHLB stock	19,350	16,875
Accrued interest receivable	5,337	4,924
Mortgage servicing rights	109	888
Mortgage banking derivative assets	2,014	2,004
Financial Liabilities [Abstract]
Deposits	1,038,495	967,380
Advance payments by borrowers for taxes	4,371	4,876
Borrowings	435,046	386,285
Accrued interest payable	1,395	886
Mortgage banking derivative liabilities	1,116	0
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	86,101	48,607
Securities available-for-sale	185,720	199,707
Loans held for sale	141,616	149,896
Loans receivable	1,311,633	1,291,142
FHLB stock	19,350	16,875
Accrued interest receivable	5,337	4,924
Mortgage servicing rights	109	1,125
Mortgage banking derivative assets	2,014	2,004
Financial Liabilities [Abstract]
Deposits	1,038,544	967,558
Advance payments by borrowers for taxes	4,371	4,876
Borrowings	432,269	384,348
Accrued interest payable	1,395	886
Mortgage banking derivative liabilities	1,116	0
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	73,601	39,607
Securities available-for-sale	0	0
Loans held for sale	0	0
Loans receivable	0	0
FHLB stock	0	0
Accrued interest receivable	5,337	4,924
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Financial Liabilities [Abstract]
Deposits	302,622	278,401
Advance payments by borrowers for taxes	4,371	4,876
Borrowings	0	0
Accrued interest payable	1,395	886
Mortgage banking derivative liabilities	0	0
Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	12,500	9,000
Securities available-for-sale	185,720	199,707
Loans held for sale	141,616	149,896
Loans receivable	0	0
FHLB stock	19,350	16,875
Accrued interest receivable	0	0
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Financial Liabilities [Abstract]
Deposits	735,922	689,157
Advance payments by borrowers for taxes	0	0
Borrowings	432,269	384,348
Accrued interest payable	0	0
Mortgage banking derivative liabilities	0	0
Fair Value [Member] | Level 3 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities available-for-sale	0	0
Loans held for sale	0	0
Loans receivable	1,311,633	1,291,142
FHLB stock	0	0
Accrued interest receivable	0	0
Mortgage servicing rights	109	1,125
Mortgage banking derivative assets	2,014	2,004
Financial Liabilities [Abstract]
Deposits	0	0
Advance payments by borrowers for taxes	0	0
Borrowings	0	0
Accrued interest payable	0	0
Mortgage banking derivative liabilities	$ 1,116	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic and Diluted Earnings Per Share Calculations [Abstract]
Net income	$ 30,754	$ 25,964	$ 25,532
Net income available to unvested restricted stockholders	0	0	15
Net income available to common stockholders	$ 30,754	$ 25,964	$ 25,517
Weighted average shares outstanding (in shares)	27,363	27,467	27,037
Effect of dilutive potential common shares (in shares)	271	432	337
Diluted weighted average shares outstanding (in shares)	27,634	27,899	27,374
Basic income per share (in dollars per share)	$ 1.12	$ 0.95	$ 0.94
Diluted income per share (in dollars per share)	$ 1.11	$ 0.93	$ 0.93

Condensed Parent Company Only_3

Condensed Parent Company Only Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets [Abstract]
Cash and cash equivalents	$ 86,101	$ 48,607
Total assets	1,915,381	1,806,401	$ 1,790,619
Liabilities [Abstract]
Other liabilities	37,790	35,756
Shareholders' equity [Abstract]
Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2018 and 2017, no shares issued	0	0
Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2018 and in 2017, Issued - 28,463,239 in 2018 and 29,501,346 in 2017, Outstanding - 28,463,239 in 2018 and 29,501,346 in 2017	285	295
Additional paid-in-capital	330,327	326,655
Retained earnings	187,153	183,358
Unearned ESOP shares	(17,804)	(18,991)
Cost of shares repurchased (7,171,537 in 2018 and 6,030,900 in 2017), at cost	(97,921)	(78,736)
Accumulated other comprehensive loss (net of taxes)	(2,361)	(477)
Total shareholders' equity	399,679	412,104	410,690	$ 391,930
Total liabilities and shareholders' equity	$ 1,915,381	$ 1,806,401
Preferred stock - par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock - shares authorized (in shares)	50,000,000	50,000,000
Preferred stock - shares issued (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	100,000,000	100,000,000
Common stock - shares issued (in shares)	28,463,239	29,501,346
Common stock - shares outstanding (in shares)	28,463,239	29,501,346
Treasury shares (in shares)	7,171,537	6,030,900
Statements of Operations [Abstract]
Interest income	$ 73,700	$ 67,095	63,736
Net interest income	54,177	50,733	43,444
Compensation	97,784	97,084	95,056
Professional fees	2,327	2,656	2,135
Other expense	10,291	11,188	10,898
Total noninterest expenses	133,156	131,879	127,435
Income before income taxes	40,280	44,433	41,994
Income tax expense	9,526	18,469	16,462
Net income	30,754	25,964	25,532
Cash flows from operating activities [Abstract]
Net income	30,754	25,964	25,532
Adjustments to reconcile net income to net cash (used in) provided by operating activities [Abstract]
Amortization of unearned ESOP	1,796	1,956	1,633
Stock based compensation	1,760	1,902	1,913
Deferred income taxes	535	3,079	1,564
Change in other assets and liabilities	(71)	4,512	(2,908)
Net cash provided by (used in) operating activities	42,936	107,097	(24,062)
Net cash used in investing activities	(79,871)	(94,876)	(25,030)
Cash dividends on common stock	(27,050)	(26,952)	(6,917)
Proceeds from stock option exercises	1,304	1,052	3,556
Purchase of common stock returned to authorized but unissued	(19,196)	(2,190)	(3,858)
Net cash provided by (used in) financing activities	74,429	(10,831)	(4,162)
Net (decrease) increase in cash	37,494	1,390	(53,254)
Cash and cash equivalents at beginning of year	48,607	47,217	100,471
Cash and cash equivalents at end of year	86,101	48,607	47,217
Cash flows from investing activities [Abstract]
Proceeds from Sale of Available-for-sale Securities, Debt	0	448	0
Parent Company [Member]
Assets [Abstract]
Cash and cash equivalents	20,116	28,954
Investment in subsidiaries	380,897	386,838
Other assets	2,476	207
Total assets	403,489	415,999
Liabilities [Abstract]
Other liabilities	3,810	3,895
Shareholders' equity [Abstract]
Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2018 and 2017, no shares issued	0	0
Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2018 and in 2017, Issued - 28,463,239 in 2018 and 29,501,346 in 2017, Outstanding - 28,463,239 in 2018 and 29,501,346 in 2017	285	295
Additional paid-in-capital	330,327	326,655
Retained earnings	187,153	183,358
Unearned ESOP shares	(17,804)	(18,991)
Cost of shares repurchased (7,171,537 in 2018 and 6,030,900 in 2017), at cost	(97,921)	(78,736)
Accumulated other comprehensive loss (net of taxes)	(2,361)	(477)
Total shareholders' equity	399,679	412,104
Total liabilities and shareholders' equity	$ 403,489	$ 415,999
Preferred stock - par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock - shares authorized (in shares)	50,000,000	50,000,000
Preferred stock - shares issued (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.01	$ 0.01
Common stock - shares authorized (in shares)	100,000,000	100,000,000
Common stock - shares issued (in shares)	28,463,239	29,501,346
Common stock - shares outstanding (in shares)	28,463,239	29,501,346
Treasury shares (in shares)	7,171,537	6,030,900
Statements of Operations [Abstract]
Interest income	$ 656	$ 675	716
Equity in income of subsidiaries (distributed and undistributed)	30,722	25,937	26,309
Net interest income	31,378	26,612	27,025
Compensation	0	0	0
Professional fees	37	57	34
Other expense	577	575	553
Total noninterest expenses	614	632	587
Income before income taxes	30,764	25,980	26,438
Income tax expense	10	16	906
Net income	30,754	25,964	25,532
Cash flows from operating activities [Abstract]
Net income	30,754	25,964	25,532
Adjustments to reconcile net income to net cash (used in) provided by operating activities [Abstract]
Amortization of unearned ESOP	1,796	1,956	1,633
Stock based compensation	1,760	1,902	1,913
Deferred income taxes	0	(58)	854
Equity in earnings of subsidiaries	(30,722)	(25,937)	(26,309)
Change in other assets and liabilities	(4,019)	530	(2,031)
Net cash provided by (used in) operating activities	(431)	4,357	1,592
Net cash used in investing activities	0	0	0
Dividends received from subsidiary	36,535	14,698	12,783
Cash dividends on common stock	(27,050)	(26,952)	(6,917)
Proceeds from stock option exercises	1,304	1,052	3,556
Purchase of common stock returned to authorized but unissued	(19,196)	(2,190)	(3,858)
Net cash provided by (used in) financing activities	(8,407)	(13,392)	5,564
Net (decrease) increase in cash	(8,838)	(9,035)	7,156
Cash and cash equivalents at beginning of year	28,954	37,989	30,833
Cash and cash equivalents at end of year	$ 20,116	$ 28,954	$ 37,989

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Segment Reporting [Abstract]
Number of operating segments | Segment	2
Net Income (Loss) [Abstract]
Net interest income (loss)	$ 54,177	$ 50,733	$ 43,444
Provision (credit) for loan losses	(1,060)	(1,166)	380
Net interest income after provision for loan losses	55,237	51,899	43,064
Noninterest income	118,199	124,413	126,365
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	97,784	97,084	95,056
Occupancy, office furniture and equipment	10,855	10,178	9,347
Advertising	4,123	3,333	2,743
Data processing	2,792	2,439	2,520
Communications	1,611	1,560	1,462
Professional fees	2,327	2,656	2,135
Real estate owned	1	379	399
Loan processing expense	3,372	3,062	2,875
Other	10,291	11,188	10,898
Total noninterest expenses	133,156	131,879	127,435
Income before income taxes	40,280	44,433	41,994
Income taxes	9,526	18,469	16,462
Net income	30,754	25,964	25,532
Total Assets	1,915,381	1,806,401	1,790,619
Holding Company and Other [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	81	174	288
Provision (credit) for loan losses	0	0	0
Net interest income after provision for loan losses	81	174	288
Noninterest income	(1,529)	(1,620)	(1,096)
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	(583)	(488)	(424)
Occupancy, office furniture and equipment	0	0	0
Advertising	0	0	0
Data processing	16	15	18
Communications	0	0	0
Professional fees	17	37	(53)
Real estate owned	0	0	0
Loan processing expense	0	0	0
Other	(946)	(1,040)	(475)
Total noninterest expenses	(1,496)	(1,476)	(934)
Income before income taxes	48	30	126
Income taxes	10	16	906
Net income	38	14	(780)
Total Assets	(165,192)	(201,027)	(256,942)
Operating Segments [Member] | Community Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	54,946	50,608	42,940
Provision (credit) for loan losses	(1,150)	(1,300)	200
Net interest income after provision for loan losses	56,096	51,908	42,740
Noninterest income	4,299	3,942	4,619
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	18,385	17,495	17,192
Occupancy, office furniture and equipment	3,307	3,127	3,165
Advertising	749	627	581
Data processing	1,671	1,619	1,630
Communications	425	408	406
Professional fees	967	782	756
Real estate owned	1	379	399
Loan processing expense	0	0	0
Other	2,715	2,828	2,221
Total noninterest expenses	28,220	27,265	26,350
Income before income taxes	32,175	28,585	21,009
Income taxes	7,273	12,228	7,006
Net income	24,902	16,357	14,003
Total Assets	1,913,647	1,834,191	1,794,697
Operating Segments [Member] | Mortgage Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	(850)	(49)	216
Provision (credit) for loan losses	90	134	180
Net interest income after provision for loan losses	(940)	(183)	36
Noninterest income	115,429	122,091	122,842
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	79,982	80,077	78,288
Occupancy, office furniture and equipment	7,548	7,051	6,182
Advertising	3,374	2,706	2,162
Data processing	1,105	805	872
Communications	1,186	1,152	1,056
Professional fees	1,343	1,837	1,432
Real estate owned	0	0	0
Loan processing expense	3,372	3,062	2,875
Other	8,522	9,400	9,152
Total noninterest expenses	106,432	106,090	102,019
Income before income taxes	8,057	15,818	20,859
Income taxes	2,243	6,225	8,550
Net income	5,814	9,593	12,309
Total Assets	$ 166,926	$ 173,237	$ 252,864

Business Combination (Details)

Business Combination (Details)	Jun. 29, 2018USD ($)
Academy Mortgage Corporation [Member]
Business Combination [Abstract]
Payments for acquisition	$ 600,000