Waterstone Financial (WSBF) 10-K 13 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 27, 2020	Jun. 30, 2019
Cover [Abstract]
Entity Registrant Name	Waterstone Financial, Inc.
Entity Central Index Key	0001569994
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 471.3
Entity Common Stock, Shares Outstanding		0
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Address, State or Province	MD

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash	$ 52,814	$ 48,234
Federal funds sold	12,704	25,100
Interest-earning deposits in other financial institutions and other short term investments	8,782	12,767
Cash and cash equivalents	74,300	86,101
Securities available for sale	178,476	185,720
Loans held for sale (at fair value)	220,123	141,616
Loans receivable	1,388,031	1,379,148
Less: Allowance for loan losses	12,387	13,249
Loans receivable, net	1,375,644	1,365,899
Office properties and equipment, net	25,028	24,524
Federal Home Loan Bank stock (at cost)	21,150	19,350
Cash surrender value of life insurance	69,665	67,550
Real estate owned, net	748	2,152
Prepaid expenses and other assets	31,213	22,469
Total assets	1,996,347	1,915,381
Liabilities:
Demand deposits	130,063	139,111
Money market and savings deposits	197,942	163,511
Time deposits	739,771	735,873
Total deposits	1,067,776	1,038,495
Borrowings	483,562	435,046
Advance payments by borrowers for taxes	4,212	4,371
Other liabilities	47,111	37,790
Total liabilities	1,602,661	1,515,702
Shareholders' equity:
Preferred stock (par value $.01 per share) Authorized - 50,000,000 shares in 2019 and 2018, no shares issued	0	0
Common stock (par value $.01 per share) Authorized - 100,000,000 shares in 2019 and 2018 Issued - 27,147,260 in 2019 and 28,463,239 in 2018 Outstanding - 27,147,260 in 2019 and 28,463,239 in 2018	271	285
Additional paid-in capital	211,997	232,406
Retained earnings	197,393	187,153
Unearned ESOP shares	(16,617)	(17,804)
Accumulated other comprehensive loss, net of taxes	642	(2,361)
Total shareholders' equity	393,686	399,679
Total liabilities and shareholders' equity	$ 1,996,347	$ 1,915,381

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
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)	27,148,411	28,463,239
Common stock - shares outstanding (in shares)	27,148,411	28,463,239

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest income:
Loans	$ 72,235	$ 66,966	$ 60,824
Mortgage-related securities	2,978	2,648	2,646
Debt securities, federal funds sold and short-term investments	4,528	4,086	3,625
Total interest income	79,741	73,700	67,095
Interest expense:
Deposits	17,278	11,627	7,739
Borrowings	10,266	7,896	8,623
Total interest expense	27,544	19,523	16,362
Net interest income	52,197	54,177	50,733
Provision for loan losses	(900)	(1,060)	(1,166)
Net interest income after provision for loan losses	53,097	55,237	51,899
Noninterest income:
Service charges on loans and deposits	2,363	1,680	1,625
Increase in cash surrender value of life insurance	1,935	1,848	1,807
Mortgage banking income	125,666	113,151	120,044
Gain on sale of available for sale securities	0	0	(107)
Other	786	1,520	1,044
Total noninterest income	130,750	118,199	124,413
Noninterest expenses:
Compensation, payroll taxes, and other employee benefits	101,718	97,784	97,084
Occupancy, office furniture and equipment	10,606	10,855	10,178
Advertising	3,885	4,123	3,333
Data processing	3,630	2,792	2,439
Communications	1,359	1,611	1,560
Professional fees	3,605	2,327	2,656
Real estate owned	(146)	1	379
Loan processing expense	3,288	3,372	3,062
Other	8,328	10,291	11,188
Total noninterest expenses	136,273	133,156	131,879
Income before income taxes	47,574	40,280	44,433
Income tax expense	11,671	9,526	18,469
Net income	$ 35,903	$ 30,754	$ 25,964
Income per share:
Basic (in dollars per share)	$ 1.38	$ 1.12	$ 0.95
Diluted (in dollars per share)	$ 1.37	$ 1.11	$ 0.93
Weighted average shares outstanding:
Basic (in shares)	26,021	27,363	27,467
Diluted (in shares)	26,247	27,634	27,899

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 35,903	$ 30,754	$ 25,964
Other comprehensive loss, net of tax:
Net unrealized holding loss on available for sale securities arising during the period, net of tax benefit of $710, $106 and $622 respectively	3,003	(1,889)	(159)
Recognition of net deferred tax liability revaluation due to tax law change	0	5	(5)
Reclassification adjustment for net loss on available for sale securities realized during the period, net of tax benefit of $-, ($42) and $-, respectively	0	0	65
Total other comprehensive loss	3,003	(1,884)	(99)
Comprehensive income	$ 38,906	$ 28,870	$ 25,865

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other comprehensive loss, net of tax:
Net unrealized holding loss on available for sale securities arising during the period, net of tax benefit	$ (1,122)	$ 710	$ 106
Reclassification adjustment for net loss on available for sale securities realized during the period, net of taxes	$ 0	$ 0	$ (42)

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]	Total
Balances at Dec. 31, 2016	$ 294	$ 246,387	$ 184,565	$ (20,178)	$ (378)	$ 410,690
Balances (in shares) at Dec. 31, 2016	29,430,000
Comprehensive income:
Net income	$ 0	0	25,964	0	0	25,964
Other comprehensive loss	0	0	0	0	(99)	(99)
Total comprehensive income						25,865
ESOP shares committed to be released to Plan participants	0	769	0	1,187	0	1,956
Cash dividend	0	0	(27,171)	0	0	(27,171)
Stock compensation activity, net of tax	$ 2	1,050	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	1,902
Purchase of common stock returned to authorized but unissued	$ (1)	(2,189)	0	0	0	(2,190)
Purchase of common stock returned to authorized but unissued (in shares)	(123,000)
Balances at Dec. 31, 2017	$ 295	247,919	183,358	(18,991)	(477)	412,104
Balances (in shares) at Dec. 31, 2017	29,501,000
Comprehensive income:
Net income	$ 0	0	30,754	0	0	30,754
Other comprehensive loss	0	0	0	0	(1,884)	(1,884)
Total comprehensive income						28,870
Reclassification for net deferred tax liability revaluation	0	0	(5)	0	0	(5)
ESOP shares committed to be released to Plan participants	0	609	0	1,187	0	1,796
Cash dividend	0	0	(26,954)	0	0	(26,954)
Stock compensation activity, net of tax	$ 1	1,303	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	1,760
Purchase of common stock returned to authorized but unissued	$ (11)	(19,185)	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	232,406	187,153	(17,804)	(2,361)	$ 399,679
Balances (in shares) at Dec. 31, 2018	28,463,000					28,463,239
Comprehensive income:
Net income	$ 0	0	35,903	0	0	$ 35,903
Other comprehensive loss	0	0	0	0	3,003	3,003
Total comprehensive income						38,906
ESOP shares committed to be released to Plan participants	0	618	0	1,187	0	1,805
Cash dividend	0	0	(25,663)	0	0	(25,663)
Stock compensation activity, net of tax	$ 0	659	0	0	0	659
Stock compensation activity, net of tax (in shares)	50,000
Stock based compensation expense	$ 0	1,067	0	0	0	1,067
Purchase of common stock returned to authorized but unissued	$ (14)	(22,753)	0	0	0	(22,767)
Purchase of common stock returned to authorized but unissued (in shares)	(1,365,000)
Balances at Dec. 31, 2019	$ 271	$ 211,997	$ 197,393	$ (16,617)	$ 642	$ 393,686
Balances (in shares) at Dec. 31, 2019	27,148,000					27,148,411

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) [Abstract]
Cash dividends (in dollars per share)	$ 0.98	$ 0.98	$ 0.98

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net income	$ 35,903	$ 30,754	$ 25,964
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for loan losses	(900)	(1,060)	(1,166)
Provision for depreciation	2,507	2,296	2,050
Deferred income taxes	639	535	3,079
Stock based compensation	1,067	1,760	1,902
Net amortization of premium/discount on debt and mortgage related securities	205	444	682
Amortization of unearned ESOP shares	1,805	1,796	1,956
Amortization and valuation allowance on mortgage servicing rights	181	191	106
Gain on sale of loans held for sale	(128,928)	(109,526)	(121,951)
Loans originated for sale	(2,853,222)	(2,509,827)	(2,458,370)
Proceeds on sales of loans originated for sale	2,903,643	2,627,634	2,655,673
Increase in accrued interest receivable	(7)	(413)	(643)
Increase in cash surrender value of life insurance	(1,935)	(1,848)	(1,807)
Increase (decrease) in accrued interest on deposits and borrowings	164	509	(30)
(Increase) decrease in prepaid income tax	330	(1,178)	(1,686)
Loss on sale of available for sale securities	0	0	107
Net gain on real estate owned	(304)	(265)	(24)
Gain on sale of mortgage servicing rights	0	(417)	(178)
Other	(1,367)	1,551	1,433
Net cash provided by (used in) operating activities	(40,219)	42,936	107,097
Investing activities:
Net increase in loans receivable	(9,896)	(87,648)	(116,887)
Net change in FHLB stock	(1,800)	(2,475)	(3,600)
Purchases of:
Debt securities	0	0	(6,140)
Mortgage related securities	(28,860)	(28,058)	(16,827)
Premises and equipment, net	(3,114)	(3,962)	(1,577)
Bank owned life insurance	(180)	(180)	(2,680)
Mortgage banking branch	0	(163)	0
Proceeds from:
Principal repayments on mortgage-related securities	31,944	28,572	32,968
Maturities of debt securities	8,080	10,435	15,686
Sales of debt securities	0	0	448
Death benefit from bank owned life insurance	0	474	0
Sales of real estate owned	2,674	3,134	3,733
Net cash used in investing activities	(1,152)	(79,871)	(94,876)
Financing activities:
Net increase in deposits	29,281	71,115	17,969
Net change in short term borrowings	8,516	(41,239)	(26,870)
Repayment of long term debt	(125,000)	(165,000)	(149,000)
Proceeds from long term debt	165,000	255,000	175,000
Net (decrease) increase in advance payments by borrowers for taxes	(159)	(505)	160
Cash dividends in common stock	(25,960)	(27,050)	(26,952)
Proceeds from stock option exercises	659	1,304	1,052
Purchase of common stock returned to authorized but unissued	(22,767)	(19,196)	(2,190)
Net cash provided by (used in) financing activities	29,570	74,429	(10,831)
Increase (decrease) in cash and cash equivalents	(11,801)	37,494	1,390
Cash and cash equivalents at beginning of year	86,101	48,607	47,217
Cash and cash equivalents at end of year	74,300	86,101	48,607
Cash paid or credited during the period for:
Income tax payments	10,703	10,168	17,081
Interest payments	27,380	19,014	16,392
Noncash activities:
Loans receivable transferred to other real estate	1,052	545	2,171
Dividends declared but not paid in other liabilities	$ 3,501	$ 3,798	$ 3,894

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
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. The Company reclassified the Cost of Shares Repurchased line item presented in prior periods to the Additional Paid in Capital line item in the Consolidated Statements of Financial Condition. The Cost of Shares Repurchased column was reclassified to the Additional Paid in Capital line in the Consolidated Statements of Changes in 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 in connection with 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 fluctuates in relation to fluctuations in 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 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 noninterest 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 74.6% of total mortgage banking noninterest expense for 2019. 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. 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 90 days or more 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 Company’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 Company. 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 Company 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 Company 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 Company 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 Company 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 Company 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 Company’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 Company, and is based on a risk model developed and implemented by management and approved by the Company’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 Company’s allowance for loan losses. Such regulators have the authority to require the Company 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 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 years to 10 years for equipment, and three years years for software. 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. 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) Share Repurchases The Company has a share repurchase program. Repurchases under the repurchase program may be made in the open market, through block trades and other negotiated transactions. The share repurchase program transactions take place primarily in open market transactions, subject to market conditions. There is no fixed termination date for the repurchase program, and the program may be suspended. Under Maryland law, shares repurchased are constituted as authorized but unissued. The Company reduced the common stock at par value and to the extent the cost acquired exceeds par value, it is recorded through additional paid-in capital on the consolidated statements of financial condition and consolidated statements of changes in shareholders’ equity. r) 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 326 "Financial Instruments - Credit Losses." The Company has input the available historical Company data to build an internal model and is reviewing the assumptions to support the calculation. Management’s methodology for estimating the allowance for credit losses under CECL includes the use of relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience by vintage classified by loans with similar risk profiles provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are considered for differences in current loan-specific risk characteristics such as changes in underwriting standards, portfolio mix, portfolio volume, delinquency rates, interest rates, or other relevant factors. Management will continue to review and adjust these and other factors. Ongoing evaluations have been performed by vintage adjusted for prepayments. For two portfolio segments, management expects to use a weighted average remaining maturity methodology, which contemplates loss expectations on a pool basis, relying on historic loss rates. Management is validating the CECL model and methodologies, however we expect an initial increase to the allowance for credit loss, including reserves for unfunded commitments, not to exceed 130% of the December 31, 2019 allowance. When finalized, this one-time increase as a result of the adoption of CECL will be recorded, net of tax, as an adjustment to retained earnings effective January 1, 2020. This estimate is subject to change based on continuing refinement and validation of the model and methodologies. Financial statement users should be aware that the allowance for credit loss is, by design, inherently sensitive to changes in economic outlook, loan and lease portfolio composition, portfolio duration, and other factors. ASC Topic 310 "Receivables - Nonrefundable Fees and Other Costs." ASC Topic 220 "Income Statement - Reporting Comprehensive Income."

Securities

Securities	12 Months Ended
	Dec. 31, 2019
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, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 33,773 422 (45 ) 34,150 Collateralized mortgage obligations Government sponsored enterprise issued 81,232 776 (254 ) 81,754 Mortgage related securities 115,005 1,198 (299 ) 115,904 Municipal securities 51,898 1,795 (1 ) 53,692 Other debt securities 10,000 - (1,120 ) 8,880 Debt securities 61,898 1,795 (1,121 ) 62,572 $ 176,903 2,993 (1,420 ) 178,476 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 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, 2019, $1.2 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, 2019, 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, 2019 Amortized cost Fair value (In Thousands) Debt securities: Due within one year $ 3,449 3,454 Due after one year through five years 33,200 33,843 Due after five years through ten years 14,615 15,618 Due after ten years 10,634 9,657 Mortgage-related securities 115,005 115,904 $ 176,903 178,476 Total proceeds and gross gains and losses from sales of investment securities available for sale for each of periods listed below. December 31, 2019 2018 2017 (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, 2019 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 $ 2,929 (20 ) 2,849 (25 ) 5,778 (45 ) Collateralized mortgage obligations Government sponsored enterprise issued 21,723 (136 ) 7,180 (118 ) 28,903 (254 ) Municipal securities 100 (1 ) – – 100 (1 ) Other debt securities - - 8,880 (1,120 ) 8,880 (1,120 ) $ 24,752 (157 ) 18,909 (1,263 ) 43,661 (1,420 ) 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 ) 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, 2019, 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, 2019, 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, 2019, the Company had one corporate debt security, included in other deby securities, seven mortgage-backed securities, and nine 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, 2019. 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 earns 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.

Loans Receivable

Loans Receivable	12 Months Ended
	Dec. 31, 2019
Loan Receivable [Abstract]
Loans Receivable	3) Loans Receivable Loans receivable at December 31, 2019 and 2018 are summarized as follows: December 31, 2019 2018 Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 480,280 489,979 Multi family 584,859 597,087 Home equity 18,071 19,956 Construction and land 37,033 13,361 Commercial real estate 236,703 225,522 Consumer 832 433 Commercial loans 30,253 32,810 Total loans receivable $ 1,388,031 1,379,148 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 78.0% 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 $1.07 billion and $1.00 billion are pledged as collateral against $470.0 million and $430.0 million in outstanding Federal Home Loan Bank of Chicago advances under a blanket security agreement at both December 31, 2019 and December 31, 2018. Certain of the Company's executive officers, directors, employees, and their related interests have loans with the Bank. As of December 31, 2019 and December 31, 2018, loans aggregating approximately $6.3 million and $5.3 million, respectively, were outstanding to such parties. None of these loans were past due or considered impaired as of December 31, 2019 and December 31, 2018. An analysis of past due loans receivable as of December 31, 2019 and 2018 follows: As of December 31, 2019 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 $ 1,179 638 3,969 5,786 474,494 480,280 Multi family - - 360 360 584,499 584,859 Home equity - 10 - 10 18,061 18,071 Construction and land - - - - 37,033 37,033 Commercial real estate - - 303 303 236,400 236,703 Consumer - - - - 832 832 Commercial loans 6 - - 6 30,247 30,253 Total $ 1,185 648 4,632 6,465 1,381,566 1,388,031 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 (1) Includes $53,000 and $422,000 for December 31, 2019 and 2018, respectively, which are on non-accrual status. (2) Includes $291,000 and $118,000 for December 31, 2019 and 2018, respectively, which are on non-accrual status. (3) Includes $2.0 million and $990,000 for December 31, 2019 and 2018, respectively, which are on non-accrual status. As of December 31, 2019 and 2018, 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 2019, 2018 and 2017 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, 2019 Balance at beginning of period $ 5,742 4,153 325 400 2,126 20 483 13,249 Provision (credit) for loan losses (845 ) (42 ) (107 ) 210 (4 ) (1 ) (111 ) (900 ) Charge-offs (125 ) (3 ) (44 ) - (2 ) (5 ) - (179 ) Recoveries 135 30 27 - 25 - - 217 Balance at end of period $ 4,907 4,138 201 610 2,145 14 372 12,387 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 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, 2019 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 $ 32 - - - 7 - - 39 Allowance related to loans collectively evaluated for impairment 4,875 4,138 201 610 2,138 14 372 12,348 Balance at end of period $ 4,907 4,138 201 610 2,145 14 372 12,387 Loans individually evaluated for impairment $ 8,725 667 84 - 581 - - 10,057 Loans collectively evaluated for impairment 471,555 584,192 17,987 37,033 236,122 832 30,253 1,377,974 Total gross loans $ 480,280 584,859 18,071 37,033 236,703 832 30,253 1,388,031 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 The following table presents information relating to the Company’s internal risk ratings of its loans receivable as of December 31, 2019 and 2018: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total At December 31, 2019 (In Thousands) Substandard $ 8,725 668 285 - 581 - 754 11,013 Watch 5,975 - 3 - 1,412 - 847 8,237 Pass 465,580 584,191 17,783 37,033 234,710 832 28,652 1,368,781 $ 480,280 584,859 18,071 37,033 236,703 832 30,253 1,388,031 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 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 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. This estimated 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, 2019 and 2018. As of or for the Year Ended December 31, 2019 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 217 217 32 - 221 15 Multi family - - - - - - Home equity - - - - - - Construction and land - - - - - - Commercial real estate 7 416 7 409 10 - Consumer - - - - - - Commercial - - - - - - $ 224 633 39 409 231 15 Total Impaired with no Reserve One- to four-family $ 8,508 9,531 - 1,023 8,730 508 Multi family 667 1,491 - 824 705 78 Home equity 84 84 - - 88 7 Construction and land - - - - - - Commercial real estate 574 574 - - 647 23 Consumer - - - - - - Commercial - - - - - - $ 9,833 11,680 - 1,847 10,170 616 Total Impaired One- to four-family $ 8,725 9,748 32 1,023 8,951 523 Multi family 667 1,491 - 824 705 78 Home equity 84 84 - - 88 7 Construction and land - - - - - - Commercial real estate 581 990 7 409 657 23 Consumer - - - - - - Commercial - - - - - - $ 10,057 12,313 39 2,256 10,401 631 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 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 $9.8 million of impaired loans as of December 31, 2019 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, 2019 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,740 2 $ 685 5 $ 3,425 7 Multi family - - 308 2 308 2 Commercial real estate 278 1 7 1 285 2 $ 3,018 3 $ 1,000 8 $ 4,018 11 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 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 months to twelve months 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, 2019, $4.0 million in loans had been modified in troubled debt restructurings and $1.0 million of these loans were included in the non-accrual loan total. The remaining $3.0 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 $7,000 valuation allowance has been established as of December 31, 2019 with respect to the $4.0 million in troubled debt restructurings. As of December 31, 2018, $67,000 in valuation allowance had been established with respect to the $6.7 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, 2019 and 2018: As of December 31, 2019 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,246 6 448 2 3,694 8 Interest reduction 324 3 - - 324 3 $ 3,570 9 448 2 4,018 11 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 The following presents data on troubled debt restructurings: For the Year Ended December 31, 2019 December 31, 2018 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, 2019. The following table presents data on non-accrual loans: As of December 31, 2019 2018 (Dollars in Thousands) Residential One- to four-family $ 5,985 4,902 Multi family 667 1,309 Home equity 70 201 Construction and land - - Commercial real estate 303 125 Commercial - 18 Consumer - - Total non-accrual loans $ 7,025 6,555 Total non-accrual loans to total loans 0.51 % 0.48 % Total non-accrual loans to total assets 0.35 % 0.34 %

Office Properties and Equipment

Office Properties and Equipment	12 Months Ended
	Dec. 31, 2019
Office Properties and Equipment [Abstract]
Office Properties and Equipment	4) Office Properties and Equipment Office properties and equipment are summarized as follows: December 31, 2019 2018 (In Thousands) Land $ 7,516 7,357 Office buildings and improvements 34,433 32,473 Furniture and equipment 13,468 13,518 55,417 53,348 Less accumulated depreciation (30,389 ) (28,824 ) $ 25,028 24,524 Depreciation of premises and equipment totaled $2.5 million, $2.3 million and $2.1 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Real Estate Owned

Real Estate Owned	12 Months Ended
	Dec. 31, 2019
Real Estate Owned [Abstract]
Real Estate Owned [Text Block]	5) Real Estate Owned Real estate owned is summarized as follows: December 31, 2019 2018 (In Thousands) One- to four-family $ 46 163 Multi-family - - Construction and land 1,256 3,327 Commercial real estate - 300 Total 1,302 3,790 Valuation allowance at end of period (554 ) (1,638 ) Total real estate owned, net $ 748 2,152 The following table presents the activity in real estate owned: Year Ended December 31, 2019 2018 (In Thousands) Real estate owned at beginning of period $ 2,152 4,558 Transferred in from loans receivable 1,052 545 Sales (2,446 ) (2,642 ) Write downs - (309 ) Other activity (10 ) - Real estate owned at end of period $ 748 2,152 Residential one- to four-family mortgage loans that were in the process of foreclosure were $2.3 million and $2.2 million at December 31, 2019 and December 31, 2018, respectively.

Mortgage Servicing Rights

Mortgage Servicing Rights	12 Months Ended
	Dec. 31, 2019
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, 2019 2018 (In Thousands) Mortgage servicing rights at beginning of the period $ 109 $ 888 Additions 354 427 Amortization (104 ) (191 ) Sales - (1,015 ) Mortgage servicing rights at end of the period 359 109 Valuation allowance at end of period (77 ) - Mortgage servicing rights at the end of the period, net $ 282 $ 109 During the year ended December 31, 2019, on a consolidated basis, $2.85 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 $2.77 billion, generating mortgage banking income of $125.7 million. The unpaid principal balance of loans serviced for others was $64.9 million and $14.1 million at December 31, 2019 and December 31, 2018 respectively. Loans serviced for others are not reflected in the consolidated statements of financial condition. The fair value of mortgage servicing rights were $282,000 at December 31, 2019 and $109,000 at December 31, 2018. During the year ended December 31, 2019, the Company did not sell any mortgage servicing rights. 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. The following table shows the estimated future amortization expense for mortgage servicing rights at December 31, 2019 for the years ended December 31 periods indicated: (In Thousands) 2020 $ 63 2021 55 2022 47 2023 39 2024 31 Thereafter 47 Total $ 282

Deposits

Deposits	12 Months Ended
	Dec. 31, 2019
Deposits [Abstract]
Deposits	7) Deposits The aggregate amount of time deposit accounts with balances greater than $250,000 at December 31, 2019 and 2018 amounted to $70.6 million and $60.1 million, respectively. A summary of interest expense on deposits is as follows: Years ended December 31, 2019 2018 2017 (In Thousands) Interest-bearing demand deposits $ 33 33 28 Money market, savings, and escrow deposits 1,247 599 401 Time deposits 15,998 10,995 7,310 $ 17,278 11,627 7,739 A summary of the contractual maturities of time deposits at December 31, 2019 is as follows: (In Thousands) Within one year $ 665,703 One to two years 70,049 Two to three years 2,352 Three to four years 871 Four through five years 796 $ 739,771

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2019
Borrowings [Abstract]
Borrowings	8) Borrowings Borrowings consist of the following: December 31, 2019 December 31, 2018 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreements $ 13,562 4.66 % $ 5,046 5.39 % Long term: Federal Home Loan Bank advances maturing: 2027 50,000 1.73 % 175,000 1.38 % 2028 255,000 2.37 % 255,000 2.37 % 2029 165,000 1.61 % - - $ 483,562 2.11 % $ 435,046 2.01 % 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 $13.6 million balance on a total commitment of $35.0 million at December 31, 2019. 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 loans held for sale underlying the repurchase agreements remain in loans held for sale as an asset in the Company's consolidated statements of condition. In other words, there is no offsetting or netting of the 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 $50.0 million in advances due in 2027 has a fixed rate of 1.73% and has a contractual maturity date in December 2027. 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 $165.0 million in advances due in 2029 consists of one $50.0 million advance with a fixed rate of 1.98% with a FHLB quarterly call option in May 2022, one $50.0 million advance with a fixed rate of 1.75% with a FHLB quarterly call option in August 2021, one $25.0 million advance with a fixed rate of 1.52% with a FHLB quarterly call option in November 2020, and one advance of $40.0 million with a fixed rate of 1.02% and with a FHLB quarterly call option. 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 $21.2 million at December 31, 2019 and $19.4 million at December 31, 2018. 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, 2019
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. On September 17, 2019, the Board of the Federal Deposit Insurance Corporation passed a final rule on the community bank leverage ratio, setting the minimum required community bank leverage ratio at 9%. In addition, the Federal Reserve Board was required to raise the asset threshold under its Small Bank Holding Company Policy Statement from $1 billion to $3 billion for bank or savings and loan holding companies that are exempt from consolidated capital requirements, provided that such companies meet certain other conditions such as not engaging in significant non-banking activities. The rule went into effect on January 1, 2020. A financial institution can elect to be subject to this new definition. The table below includes the 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 was fully phased-in as of January 1, 2019 at 2.5%. A banking organization with a conservation buffer of less than 2.5% will be subject to limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. At December 31, 2019, 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, 2019 and 2018 are presented in the table below: December 31, 2019 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. $ 404,748 26.17 % 123,731 8.00 % 162,398 10.500 % N/A N/A WaterStone Bank 353,357 22.85 % 123,716 8.00 % 162,378 10.500 % 154,646 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 392,361 25.37 % 92,799 6.00 % 131,465 8.500 % N/A N/A WaterStone Bank 340,970 22.05 % 92,787 6.00 % 131,449 8.500 % 123,716 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 392,361 25.37 % 69,599 4.50 % 108,265 7.000 % N/A N/A WaterStone Bank 340,970 22.05 % 69,590 4.50 % 108,252 7.000 % 100,520 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 392,361 19.69 % 79,691 4.00 % N/A N/A N/A N/A WaterStone Bank 340,970 17.11 % 79,691 4.00 % N/A N/A 99,614 5.00 % State of Wisconsin (to total assets) WaterStone Bank 340,970 17.11 % 119,590 6.00 % N/A N/A N/A N/A December 31, 2018 (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 414,566 28.22 % 117,506 8.00 % 145,046 9.88 % N/A N/A WaterStone Bank 395,783 26.95 % 117,490 8.00 % 145,027 9.88 % 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 7.88 % N/A N/A WaterStone Bank 382,534 26.05 % 88,118 6.00 % 115,655 7.88 % 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 6.38 % N/A N/A WaterStone Bank 382,534 26.05 % 66,088 4.50 % 93,625 6.38 % 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

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2019
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 1,302,000 stock options and 466,000 restricted stock are available to be issued as of December 31, 2019. 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, 2019 and 2018. 2019 2018 Minimum Maximum Minimum Maximum Dividend yield 2.56 % 2.92 % 2.70 % 2.74 % Risk-free interest rate 1.42 % 2.28 % 2.57 % 2.96 % Expected volatility 16.07 % 16.37 % 16.27 % 30.88 % Weighted average expected life 5.0 5.8 5.4 6.2 Weighted average per share value of options $ 1.72 2.12 1.97 4.26 The Company's policy is to adjust compensation expense at the time of actual stock grant forfeiture. A summary of the Company’s stock option activity for the years ended December 31, 2019, 2018 and 2017 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, 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 Granted 30,000 17.13 56 Exercised (50,298 ) 13.10 298 Forfeited (15,000 ) 15.62 51 Outstanding December 31, 2019 1,025,771 13.29 5.56 5,887 Options exercisable at December 31, 2019 546,770 12.93 5.31 3,335 The following table summarizes information about the Company's stock options outstanding at December 31, 2019. 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 4,233 $ 1.73 2.01 4,233 $ 1.73 2.01 $ 5.01 - $10.00 - - - - - - $ 10.01 - $15.00 903,538 12.81 5.21 517,537 12.82 5.22 Over $15.01 118,000 17.55 8.36 25,000 17.84 7.75 1,025,771 $ 13.29 5.56 546,770 $ 12.93 5.31 The following table summarizes information about the Company’s nonvested stock option activity for the years ended December 31, 2019 and 2018: Stock Options Shares Weighted Average Grant Date Fair Value 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 Nonvested at December 31, 2018 640,001 3.30 Granted 30,000 1.87 Vested (176,000 ) 3.28 Forfeited (15,000 ) 2.34 Nonvested at December 31, 2019 479,001 3.24 The Company amortizes the expense related to stock options as compensation expense over the vesting period. Expense for the stock options granted of $582,000, $608,000 and $638,000 was recognized during the years ended December 31, 2019, 2018 and 2017, respectively. At December 31, 2019, the Company had $1.1 million in estimated unrecognized compensation costs related to outstanding stock options that is expected to be recognized over a weighted average period of 24 months. The following table summarizes information about the Company’s restricted stock shares activity for the years ended December 31, 2019 and 2018: Restricted Stock Shares Weighted Average Grant Date Fair Value 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 Nonvested at December 31, 2018 162,600 12.85 Granted - - Vested (89,600 ) 12.84 Forfeited - - Nonvested at December 31, 2019 73,000 12.86 The Company amortizes the expense related to restricted stock awards as compensation expense over the vesting period. Expense for the restricted stock awards of $486,000, $1.2 million and $1.3 million was recorded for the years ended December 31, 2019, 2018 and 2017, respectively. At December 31, 2019, the Company had $660,000 of unrecognized compensation expense related to restricted stock shares that is expected to be recognized over a weighted average period of 25 months.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2019
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 $1.0 million, $971,000 and $825,000 to the plans during the years ended December 31, 2019, 2018 and 2017 respectively.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2019
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 21 years of age and complete 12 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, 2005, the Plan borrowed $8.5 million from the Company and purchased 835,610 shares of common stock of the Company in the open market. 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 20 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, $1.8 million and $2.0 million, respectively for the years ended December 31, 2019, 2018 and 2017. The aggregate activity in the number of unearned ESOP shares, considering the allocation of those shares committed to be released as of December 31, 2019 and 2018 is as follows: 2019 2018 Beginning ESOP shares 1,580,671 1,686,049 Shares committed to be released (105,378 ) (105,378 ) Unreleased shares 1,475,293 1,580,671 Fair value of unreleased shares (in millions) $ 28.1 26.5

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Income Taxes	13) Income Taxes The provision for income taxes for the year ended December 31, 2019, 2018 and 2017 consists of the following: Years ended December 31, 2019 2018 2017 (In Thousands) Current: Federal $ 8,377 7,087 13,028 State 2,655 1,904 2,362 11,032 8,991 15,390 Deferred: Federal 619 452 2,960 State 20 83 119 639 535 3,079 Total $ 11,671 9,526 18,469 The income tax provisions differ from that computed at the Federal statutory corporate tax rate for the years ended December 31, 2019, 2018 and 2017 as follows: Years ended December 31, 2019 2018 2017 (Dollars In Thousands) Income before income taxes $ 47,574 40,280 44,433 Tax at Federal statutory rate (21% in 2019 and 2018, 35% in 2017) 9,991 8,459 15,552 Add (deduct) effect of: State income taxes net of Federal income tax benefit 2,113 1,570 1,613 Cash surrender value of life insurance (406 ) (388 ) (632 ) Non-deductible ESOP and stock option expense 186 188 380 Tax-exempt interest income (236 ) (248 ) (449 ) Non-deductible compensation 216 177 280 Deferred tax asset revaluation - - 2,644 Stock compensation (146 ) (160 ) (1,074 ) Other (47 ) (72 ) 155 Income tax provision 11,671 9,526 18,469 Effective tax rate 24.5 % 23.6 % 41.6 % 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, 2019 and 2018: December 31, 2019 2018 Gross deferred tax assets: (In Thousands) Restricted stock and stock options 440 526 Allowance for loan losses 3,031 3,239 Repurchase reserve for loans sold 244 139 Non-accrual interest 262 292 Real estate owned 305 741 Capital loss carryforward - 23 Unrealized loss on impaired securities 23 23 Unrealized loss on securities available for sale, net - 695 Lease liability 2,170 - Other 32 98 Total gross deferred tax assets 6,507 5,776 Gross deferred tax liabilities: Excess tax depreciation (80 ) (28 ) Unrealized gain on securities available for sale, net (429 ) - Mortgage servicing rights (75 ) (29 ) FHLB stock dividends (51 ) (68 ) Lease asset (2,053 ) - Deferred loan fees (406 ) (475 ) Deferred liabilities (3,094 ) (600 ) Net deferred tax assets $ 3,413 5,176 The Company had a Wisconsin net operating loss carry forward of $22,000 at December 31, 2019 which will begin to expire in 2028. The Company has no capital loss carryforwards as of December 31, 2019. 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, 2019 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 2015 or subject to federal tax examinations for the years before 2016.

Commitments, Off-Balance Sheet

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	12 Months Ended
	Dec. 31, 2019
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities [Abstract]
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	14) 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, 2019 2018 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under first mortgage loans (1) $ 13,389 33,762 Commitments to extend credit under home equity lines of credit 13,776 14,903 Unused portion of construction loans 90,439 79,776 Unused portion of business lines of credit 14,623 16,778 Standby letters of credit 885 860 (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, 2019 and 2018. 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 was 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. 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. It found that Plaintiff Herrington had an enforceable class action waiver in her arbitration agreement, and remanded the case to the District Court. On April 25, 2019, the District Court held that Plaintiff’s claims must be resolved through single-plaintiff arbitration. As a result, it vacated the July 5, 2017 arbitration award in its entirety, and issued a revised judgement in Waterstone’s favor. In May 2019, Herrington re-initiated her individual arbitration. Over Waterstone’s objection, the arbitrator considered evidence from the prior vacated proceeding. A hearing was held in Herrington’s individual arbitration in November 2019, and Herrington sought over $55,000 in damages on her individual claim, plus punitive damages, attorney fees and costs. The arbitrator issued a written award on February 18, 2020 and in which he found Waterstone liable for damages. Herrington has requested damages of approximately $15,000. The arbitrator has not yet awarded a damages figure. The arbitrator also has not yet ruled on the issue of attorney fees. Waterstone disagrees with the ruling and will vigorously pursue all available challenges to it. Waterstone still retains the right to challenge the award in Court, through a motion to vacate or modify the award. Even if the award is confirmed and a judgment is entered, it retains its appellate rights to challenge the award before the Seventh Circuit. Waterstone believes there are meaningful avenues for appeal, including challenging the arbitrator’s reliance on prior findings from a vacated proceeding. Given these recent developments, Waterstone does not believe a 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. However, given the award, a loss is reasonably possible and Waterstone would not characterize the chance of any loss as “remote.” If the arbitrator’s award is confirmed, we estimate that Herrington would recover approximately $15,000 in damages. The Company expects that Herrington will also seek to recover significant fees from both the individual and the prior vacated collective arbitration . On the other hand, if Waterstone prevails in challenging the award, it could be vacated in whole or in part. Various Claimants v. Waterstone Mortgage Corporation Waterstone Mortgage Corporation was 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 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. The judgment was then appealed by Waterstone to the Seventh Circuit Court of Appeals. On October 22, 2018, the Seventh Circuit issued a ruling vacating the District Court’s order enforcing the arbitration award. It found that Plaintiff Herrington had an enforceable class action waiver in her arbitration agreement, and remanded the case to the District Court. On April 25, 2019, the District Court held that Plaintiff Herrington’s claims must be resolved through single-plaintiff arbitration. As a result, it vacated the July 5, 2017 arbitration award in its entirety, and issued a revised judgment in Waterstone’s favor. In May 2019, approximately 89 of the prior claimants in the aforementioned class action lawsuit filed new demands in arbitration asserting similar claims (“the Arbitrations”). For the other claimants, Waterstone has answered those demands and denies the allegations, and Waterstone will continue to vigorously defend its interests in these matters. Waterstone does not believe a 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. However, an unfavorable outcome is reasonably possible and Waterstone would not characterize the chance of any loss as “remote.” Given the early stage of the numerous proceedings, Waterstone cannot yet offer an opinion on the estimated range of any possible loss, in the event of an unfavorable opinion.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2019
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	15) 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, 2019, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $345.0 million and interest rate lock commitments with an aggregate notional amount of approximately $174.3 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2019 included a gain of $3,000 that is reported as a component of other assets on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2019 included a gain of $1.8 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. 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 or a return of servicing release premium could be required if defined delinquency issues or an early payoff occured during the limited recourse period. The Company may offer derivative contracts to its customers in connection with their risk management needs. The Company manages the risk associated with these contracts by entering into an equal and offsetting derivative with a third-party dealer. These derivatives generally work together as an economic interest rate hedge, but the Company does not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability are recorded as either a charge or credit to current earnings during the period in which the changes occurred. The fair value of the swaps is recorded as both an asset and a liability, in other assets and other liabilities on the Company's consolidated statement of financial condition, respectively, in equal amounts for these transactions. At December 31, 2019, the aggregate amortizing notional value of interest rate swaps with various commercial borrowers was $30.9 million. The Company receives fixed rates and pays floating rates based upon LIBOR on the swaps with commercial borrowers. These interest rate swaps mature in December 2029. Commercial borrower swaps are completed independently with each borrower and are not subject to master netting arrangements. These commercial borrower swaps were reported as a component of other assets on the Company's consolidated statement of financial condition of $680,000. As of December 31, 2019, no interest rate swaps were in default. At December 31, 2019, the aggregate amortizing notional value of interest rate swaps with dealer counterparties was also $30.9 million. The Company pays fixed rates and receives floating rates based upon LIBOR on the swaps with dealer counterparties. These interest rate swaps mature in December 2029. Dealer counterparty swaps are subject to master netting agreements among the contracts within our Bank and are reported as a component of other liabilities on the Company's consolidated statement of financial condition of $680,000. No right of offset existed with dealer counterparty swaps as of December 31, 2019. All changes in the fair value of these instruments are recorded in other non-interest income. The Company pledged $710,000 in cash to secure its obligation under these contracts at December 31, 2019. There were no loan interest rate swaps as of December 31, 2018.

Fair Values Measurements

Fair Values Measurements	12 Months Ended
	Dec. 31, 2019
Fair Values Measurements [Abstract]
Fair Values Measurements	16) Fair Value 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 and liabilities recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2019 and December 31, 2018, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2019 Level 1 Level 2 Level 3 (In Thousands) Assets Available for sale securities Mortgage-backed securities $ 34,150 - 34,150 - Collateralized mortgage obligations Government sponsored enterprise issued 81,754 - 81,754 - Municipal securities 53,692 - 53,692 - Other debt securities 8,880 - 8,880 - Loans held for sale 220,123 - 220,123 - Mortgage banking derivative assets 1,835 - - 1,835 Interest rate swap assets 680 - 680 - Liabilities Mortgage banking derivative liabilities - - - - Interest rate swap liabilities 680 - 680 - Fair Value Measurements Using December 31, 2018 Level 1 Level 2 Level 3 (In Thousands) Assets 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 Liabilities Mortgage banking derivative liabilities 1,116 - - 1,116 The following summarizes the valuation techniques for assets and liabilities 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 operations. 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 operations, within mortgage banking income. Interest rate swap assets/liabilities - The Company offers loan level swaps to its customers and offsets its exposure from such contracts by entering into mirror image swaps with a financial institution / swap counterparty. The fair values of derivatives are based on valuation models using observable market data as of the measurement date. Our derivatives are traded in an over-the-counter market where quoted market prices are not always available. Therefore, the fair values of derivatives are determined using quantitative models that utilize multiple market inputs. The inputs will vary based on the type of derivative, but could include interest rates, prices and indices to generate continuous yield or pricing curves, prepayment rates, and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. Interest rate swap assets and liabilities 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 operations, within other income and other expense. The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2019 and 2018. Mortgage banking derivatives, net Balance at December 31, 2017 $ 2,004 Transfer into level 3 - Mortgage derivative loss, net (1,106 ) Balance at December 31, 2018 898 Transfer into level 3 - Mortgage derivative gain, net 937 Balance at December 31, 2019 $ 1,835 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, 2019 and December 31, 2018, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2019 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 185 - - 185 Real estate owned 748 - - 748 Impaired mortgage servicing rights 206 - - 206 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 _________ (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, 2019, loans determined to be impaired with an outstanding balance of $224,000 were carried net of specific reserves of $39,000 for a fair value of $185,000. 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 $2.9 million. 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. There were no changes in the fair value of real estate owned for the year ended December 31, 2019. Changes in the fair value of real estate owned was $309,000 for the year ended December 31, 2018 and are recorded in real estate owned expense. At December 31, 2019 and December 31, 2018, real estate owned totaled $748,000 and $2.2 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, 2019, there was $77,000 of impairment on mortgage servicing rights. At December 31, 2018, there was no impairment identified for mortgage servicing rights. For Level 3 assets and liabilities measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value at Significant Significant Unobservable Input Value December 31, 2019 Valuation Technique Unobservable Inputs Minimum Value Maximum Value Mortgage banking derivatives 1,835,000 Pricing models Pull through rate 24.8 % 100.0 % Impaired loans 185,000 Market approach Discount rates applied to appraisals 15.0 % 15.0 % Real estate owned 748,000 Market approach Discount rates applied to appraisals 36.1 % 65.2 % Mortgage servicing rights 282,000 Pricing models Prepayment rate 12.8 % 30.0 % Discount rate 11.0 % 12.1 % Cost to service $ 82.00 $ 247.00 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, 2019 and December 31, 2018: December 31, 2019 December 31, 2018 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 $ 74,300 74,300 65,800 8,500 - 86,101 86,101 73,601 12,500 - Securities available-for-sale 178,476 178,476 - 178,476 - 185,720 185,720 - 185,720 - Loans held for sale 220,123 220,123 - 220,123 - 141,616 141,616 - 141,616 - Loans receivable 1,388,031 1,426,224 - - 1,426,224 1,379,148 1,311,633 - - 1,311,633 FHLB stock 21,150 21,150 - 21,150 - 19,350 19,350 - 19,350 - Accrued interest receivable 5,344 5,344 5,344 - - 5,337 5,337 5,337 - - Mortgage servicing rights 282 282 - - 282 109 109 - - 109 Mortgage banking derivative assets 1,835 1,835 - - 1,835 2,014 2,014 - - 2,014 Interest rate swap assets 680 680 - 680 - - - - - - Financial Liabilities Deposits 1,067,776 1,070,083 328,005 742,078 - 1,038,495 1,038,544 302,622 735,922 - Advance payments by borrowers for taxes 4,212 4,212 4,212 - - 4,371 4,371 4,371 - - Borrowings 483,562 483,846 - 483,846 - 435,046 432,269 - 432,269 - Accrued interest payable 1,559 1,559 1,559 - - 1,395 1,395 1,395 - - Mortgage banking derivative liabilities - - - - - 1,116 1,116 - - 1,116 Interest rate swap liabilities 680 680 - 680 - - - - - - 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. The commercial paper instruments with a maturity of less than 90 days also approximates its fair value with its carrying value. 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, 2019 and December 31, 2018. 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. Interest Rate Swap Assets and Liabilities The carrying value and fair value of existing derivative financial instruments are based upon independent valuation models, which use widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative contract. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	17) 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, 2019 2018 2017 (In Thousands, except per share amounts) Net income $ 35,903 30,754 25,964 Weighted average shares outstanding 26,021 27,363 27,467 Effect of dilutive potential common shares 226 271 432 Diluted weighted average shares outstanding 26,247 27,634 27,899 Basic income per share $ 1.38 1.12 0.95 Diluted income per share $ 1.37 1.11 0.93

Condensed Parent Company Only S

Condensed Parent Company Only Statements	12 Months Ended
	Dec. 31, 2019
Condensed Parent Company Only Statements [Abstract]
Condensed Parent Company Only Statements	18) Condensed Parent Company Only Statements Statements of Financial Condition December 31, 2019 2018 (In Thousands) Assets Cash and cash equivalents $ 54,730 20,116 Investment in subsidiaries 342,295 380,897 Other assets 187 2,476 Total Assets $ 397,212 403,489 Liabilities and shareholders' equity Liabilities: Other liabilities $ 3,526 3,810 Shareholders' equity Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2019 and 2018, no shares issued - - Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2019 and in 2018, Issued - 27,148,411 in 2019 and 28,463,239 in 2018, Outstanding - 27,148,411 in 2019 and 28,463,239 in 2018 271 285 Additional paid-in-capital 211,997 232,406 Retained earnings 197,393 187,153 Unearned ESOP shares (16,617 ) (17,804 ) Accumulated other comprehensive gain (loss) (net of taxes) 642 (2,361 ) Total shareholders' equity 393,686 399,679 Total liabilities and shareholders' equity $ 397,212 403,489 Statements of Operations For the year ended December 31, 2019 2018 2017 (In Thousands) Interest income $ 793 656 675 Equity in income of subsidiaries (distributed and undistributed) 35,784 30,722 25,937 Total income 36,577 31,378 26,612 Professional fees 58 37 57 Other expense 577 577 575 Total expense 635 614 632 Income before income tax expense 35,942 30,764 25,980 Income tax expense 39 10 16 Net income $ 35,903 30,754 25,964 Statements of Cash Flows For the year ended December 31, 2019 2018 2017 (In Thousands) Cash flows from operating activities Net income $ 35,903 30,754 25,964 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Amortization of unearned ESOP 1,805 1,796 1,956 Stock based compensation 1,067 1,760 1,902 Deferred income taxes - - (58 ) Equity in earnings of subsidiaries (35,784 ) (30,722 ) (25,937 ) Change in other assets and liabilities 1,235 (4,019 ) 530 Net cash provided by (used in) operating activities 4,226 (431 ) 4,357 Net cash used in investing activities - - - Dividends received from subsidiary 78,456 36,535 14,698 Cash dividends on common stock (25,960 ) (27,050 ) (26,952 ) Proceeds from stock option exercises 659 1,304 1,052 Purchase of common stock returned to authorized but unissued (22,767 ) (19,196 ) (2,190 ) Net cash provided by (used in) financing activities 30,388 (8,407 ) (13,392 ) Net increase (decrease) in cash 34,614 (8,838 ) (9,035 ) Cash and cash equivalents at beginning of year 20,116 28,954 37,989 Cash and cash equivalents at end of year $ 54,730 20,116 28,954

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Reporting	19) 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 24 states with the ability to lend in 48 states. As of or for the Year ended December 31, 2019 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income (loss) $ 54,019 (1,910 ) 88 52,197 Provision (credit) for loan losses (1,050 ) 150 - (900 ) Net interest income (loss) after provision for loan losses 55,069 (2,060 ) 88 53,097 Noninterest income 5,020 126,910 (1,180 ) 130,750 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 18,195 84,230 (707 ) 101,718 Occupancy, office furniture, and equipment 3,752 6,854 - 10,606 Advertising 920 2,965 - 3,885 Data processing 2,121 1,493 16 3,630 Communications 358 1,001 - 1,359 Professional fees 813 2,734 58 3,605 Real estate owned (176 ) 30 - (146 ) Loan processing expense - 3,288 - 3,288 Other 2,205 6,741 (618 ) 8,328 Total noninterest expenses 28,188 109,336 (1,251 ) 136,273 Income before income taxes 31,901 15,514 159 47,574 Income taxes 7,296 4,336 39 11,671 Net income $ 24,605 11,178 120 35,903 Total Assets $ 1,955,999 258,928 (218,580 ) 1,996,347 As of or for the Year ended December 31, 2018 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 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 (loss) 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

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 2019
Business Combination [Abstract]
Business Combination	20) 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 ("Academy"), 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	21) Leases The Company has entered into operating lease agreements for two of its community banking branch locations, all of its mortgage banking office locations, and some of its office equipment. The leases have fixed terms defined regarding the payments and length. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less), or equipment leases (deemed immaterial) on the consolidated statements of financial condition. Some of the leases included options to extend the leases. These options are reviewed and factored into the length of the lease if the option is expected to be extended. Leases did not contain an implicit rate; therefore, the Company used the incremental borrowing rates for the discount rate. There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the twelve months ended December 31, 2019. At December 31, 2019, the Company had lease liabilities totaling $8.9 million and right-of-use assets totaling $8.4 million related to these leases. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively, on the consolidated statements of financial condition. The cost components of our operating leases were as follows for the year ended December 31, 2019: Year ended December 31, 2019 (In Thousands) Operating lease cost $ 2,988 Variable cost 822 Short-term lease cost 965 Total $ 4,775 At December 31, 2019, the Company had leases that had not yet commenced, but will create approximately $200,000 of additional lease liabilities and right-of-use assets for the Company in the first quarter of 2020. The table below summarizes other information related to our operating leases: Year ended December 31, 2019 (Dollars in Millions) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3.2 Initial recognition of right-of-use asset 11.4 Initial recognition of lease liabilities 11.9 Weighted average remaining lease term - operating leases, in years 3.11 Weighted average discount rate - operating leases 5.9 % As of December 31, 2019, lease liability information for the Company is summarized in the following table. Maturity analysis Operating leases (In Thousands) One year or less $ 3,222 More than one year through two years 2,490 More than two years through three years 1,683 More than three years through four years 1,259 More than four years through five years 515 More than five years 983 Total lease payments 10,152 Present value discount (1,272 ) Lease liability $ 8,880

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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 in connection with 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 fluctuates in relation to fluctuations in 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 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 noninterest 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 74.6% of total mortgage banking noninterest expense for 2019. 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.
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 90 days or more 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 Company’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 Company. 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 Company 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 Company 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 Company 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 Company 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 Company 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 Company’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 Company, and is based on a risk model developed and implemented by management and approved by the Company’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 Company’s allowance for loan losses. Such regulators have the authority to require the Company 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 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 years to 10 years for equipment, and three years years for software.
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.
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. q) Share Repurchases The Company has a share repurchase program. Repurchases under the repurchase program may be made in the open market, through block trades and other negotiated transactions. The share repurchase program transactions take place primarily in open market transactions, subject to market conditions. There is no fixed termination date for the repurchase program, and the program may be suspended. Under Maryland law, shares repurchased are constituted as authorized but unissued. The Company reduced the common stock at par value and to the extent the cost acquired exceeds par value, it is recorded through additional paid-in capital on the consolidated statements of financial condition and consolidated statements of changes in shareholders’ equity.
Impact of Recent Accounting Pronouncements	r) 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 326 "Financial Instruments - Credit Losses." The Company has input the available historical Company data to build an internal model and is reviewing the assumptions to support the calculation. Management’s methodology for estimating the allowance for credit losses under CECL includes the use of relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience by vintage classified by loans with similar risk profiles provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are considered for differences in current loan-specific risk characteristics such as changes in underwriting standards, portfolio mix, portfolio volume, delinquency rates, interest rates, or other relevant factors. Management will continue to review and adjust these and other factors. Ongoing evaluations have been performed by vintage adjusted for prepayments. For two portfolio segments, management expects to use a weighted average remaining maturity methodology, which contemplates loss expectations on a pool basis, relying on historic loss rates. Management is validating the CECL model and methodologies, however we expect an initial increase to the allowance for credit loss, including reserves for unfunded commitments, not to exceed 130% of the December 31, 2019 allowance. When finalized, this one-time increase as a result of the adoption of CECL will be recorded, net of tax, as an adjustment to retained earnings effective January 1, 2020. This estimate is subject to change based on continuing refinement and validation of the model and methodologies. Financial statement users should be aware that the allowance for credit loss is, by design, inherently sensitive to changes in economic outlook, loan and lease portfolio composition, portfolio duration, and other factors. 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, 2019
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, 2019, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $345.0 million and interest rate lock commitments with an aggregate notional amount of approximately $174.3 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2019 included a gain of $3,000 that is reported as a component of other assets on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2019 included a gain of $1.8 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. 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 or a return of servicing release premium could be required if defined delinquency issues or an early payoff occured during the limited recourse period. The Company may offer derivative contracts to its customers in connection with their risk management needs. The Company manages the risk associated with these contracts by entering into an equal and offsetting derivative with a third-party dealer. These derivatives generally work together as an economic interest rate hedge, but the Company does not designate them for hedge accounting treatment. Consequently, changes in fair value of the corresponding derivative financial asset or liability are recorded as either a charge or credit to current earnings during the period in which the changes occurred. The fair value of the swaps is recorded as both an asset and a liability, in other assets and other liabilities on the Company's consolidated statement of financial condition, respectively, in equal amounts for these transactions. At December 31, 2019, the aggregate amortizing notional value of interest rate swaps with various commercial borrowers was $30.9 million. The Company receives fixed rates and pays floating rates based upon LIBOR on the swaps with commercial borrowers. These interest rate swaps mature in December 2029. Commercial borrower swaps are completed independently with each borrower and are not subject to master netting arrangements. These commercial borrower swaps were reported as a component of other assets on the Company's consolidated statement of financial condition of $680,000. As of December 31, 2019, no interest rate swaps were in default. At December 31, 2019, the aggregate amortizing notional value of interest rate swaps with dealer counterparties was also $30.9 million. The Company pays fixed rates and receives floating rates based upon LIBOR on the swaps with dealer counterparties. These interest rate swaps mature in December 2029. Dealer counterparty swaps are subject to master netting agreements among the contracts within our Bank and are reported as a component of other liabilities on the Company's consolidated statement of financial condition of $680,000. No right of offset existed with dealer counterparty swaps as of December 31, 2019. All changes in the fair value of these instruments are recorded in other non-interest income. The Company pledged $710,000 in cash to secure its obligation under these contracts at December 31, 2019. There were no loan interest rate swaps as of December 31, 2018.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 33,773 422 (45 ) 34,150 Collateralized mortgage obligations Government sponsored enterprise issued 81,232 776 (254 ) 81,754 Mortgage related securities 115,005 1,198 (299 ) 115,904 Municipal securities 51,898 1,795 (1 ) 53,692 Other debt securities 10,000 - (1,120 ) 8,880 Debt securities 61,898 1,795 (1,121 ) 62,572 $ 176,903 2,993 (1,420 ) 178,476 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
Amortized Cost and Fair Values of Investment Securities by Contractual Maturity	The amortized cost and fair value of securities at December 31, 2019, 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, 2019 Amortized cost Fair value (In Thousands) Debt securities: Due within one year $ 3,449 3,454 Due after one year through five years 33,200 33,843 Due after five years through ten years 14,615 15,618 Due after ten years 10,634 9,657 Mortgage-related securities 115,005 115,904 $ 176,903 178,476
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, 2019 2018 2017 (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, 2019 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 $ 2,929 (20 ) 2,849 (25 ) 5,778 (45 ) Collateralized mortgage obligations Government sponsored enterprise issued 21,723 (136 ) 7,180 (118 ) 28,903 (254 ) Municipal securities 100 (1 ) – – 100 (1 ) Other debt securities - - 8,880 (1,120 ) 8,880 (1,120 ) $ 24,752 (157 ) 18,909 (1,263 ) 43,661 (1,420 ) 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 )

Loans Receivable (Tables)

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2019
Loan Receivable [Abstract]
Schedule of Components of Loans Receivable	Loans receivable at December 31, 2019 and 2018 are summarized as follows: December 31, 2019 2018 Mortgage loans: (In Thousands) Residential real estate: One- to four-family $ 480,280 489,979 Multi family 584,859 597,087 Home equity 18,071 19,956 Construction and land 37,033 13,361 Commercial real estate 236,703 225,522 Consumer 832 433 Commercial loans 30,253 32,810 Total loans receivable $ 1,388,031 1,379,148
Analysis of Past Due Loans Receivable	An analysis of past due loans receivable as of December 31, 2019 and 2018 follows: As of December 31, 2019 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 $ 1,179 638 3,969 5,786 474,494 480,280 Multi family - - 360 360 584,499 584,859 Home equity - 10 - 10 18,061 18,071 Construction and land - - - - 37,033 37,033 Commercial real estate - - 303 303 236,400 236,703 Consumer - - - - 832 832 Commercial loans 6 - - 6 30,247 30,253 Total $ 1,185 648 4,632 6,465 1,381,566 1,388,031 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 (1) Includes $53,000 and $422,000 for December 31, 2019 and 2018, respectively, which are on non-accrual status. (2) Includes $291,000 and $118,000 for December 31, 2019 and 2018, respectively, which are on non-accrual status. (3) Includes $2.0 million and $990,000 for December 31, 2019 and 2018, respectively, which are on non-accrual status.
Allowance for Loan Losses	A summary of the activity for the years ended 2019, 2018 and 2017 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, 2019 Balance at beginning of period $ 5,742 4,153 325 400 2,126 20 483 13,249 Provision (credit) for loan losses (845 ) (42 ) (107 ) 210 (4 ) (1 ) (111 ) (900 ) Charge-offs (125 ) (3 ) (44 ) - (2 ) (5 ) - (179 ) Recoveries 135 30 27 - 25 - - 217 Balance at end of period $ 4,907 4,138 201 610 2,145 14 372 12,387 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
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, 2019 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 $ 32 - - - 7 - - 39 Allowance related to loans collectively evaluated for impairment 4,875 4,138 201 610 2,138 14 372 12,348 Balance at end of period $ 4,907 4,138 201 610 2,145 14 372 12,387 Loans individually evaluated for impairment $ 8,725 667 84 - 581 - - 10,057 Loans collectively evaluated for impairment 471,555 584,192 17,987 37,033 236,122 832 30,253 1,377,974 Total gross loans $ 480,280 584,859 18,071 37,033 236,703 832 30,253 1,388,031 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
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, 2019 and 2018: One- to Four- Family Multi Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total At December 31, 2019 (In Thousands) Substandard $ 8,725 668 285 - 581 - 754 11,013 Watch 5,975 - 3 - 1,412 - 847 8,237 Pass 465,580 584,191 17,783 37,033 234,710 832 28,652 1,368,781 $ 480,280 584,859 18,071 37,033 236,703 832 30,253 1,388,031 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
Impaired Loan Receivables	The following tables present data on impaired loans as of and for the year ended December 31, 2019 and 2018. As of or for the Year Ended December 31, 2019 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs Average Recorded Investment Interest Paid YTD Total Impaired with Reserve One- to four-family $ 217 217 32 - 221 15 Multi family - - - - - - Home equity - - - - - - Construction and land - - - - - - Commercial real estate 7 416 7 409 10 - Consumer - - - - - - Commercial - - - - - - $ 224 633 39 409 231 15 Total Impaired with no Reserve One- to four-family $ 8,508 9,531 - 1,023 8,730 508 Multi family 667 1,491 - 824 705 78 Home equity 84 84 - - 88 7 Construction and land - - - - - - Commercial real estate 574 574 - - 647 23 Consumer - - - - - - Commercial - - - - - - $ 9,833 11,680 - 1,847 10,170 616 Total Impaired One- to four-family $ 8,725 9,748 32 1,023 8,951 523 Multi family 667 1,491 - 824 705 78 Home equity 84 84 - - 88 7 Construction and land - - - - - - Commercial real estate 581 990 7 409 657 23 Consumer - - - - - - Commercial - - - - - - $ 10,057 12,313 39 2,256 10,401 631 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
Troubled Debt Restructurings on Loan Receivables	The following presents data on troubled debt restructurings: As of December 31, 2019 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,740 2 $ 685 5 $ 3,425 7 Multi family - - 308 2 308 2 Commercial real estate 278 1 7 1 285 2 $ 3,018 3 $ 1,000 8 $ 4,018 11 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
Troubled Debt Restructurings by Concession Type	The following presents troubled debt restructurings by concession type at December 31, 2019 and 2018: As of December 31, 2019 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,246 6 448 2 3,694 8 Interest reduction 324 3 - - 324 3 $ 3,570 9 448 2 4,018 11 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
Schedule of Data on Troubled Debt Restructurings	The following presents data on troubled debt restructurings: For the Year Ended December 31, 2019 December 31, 2018 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, 2019.
Loans Receivables, Non Accrual Status	The following table presents data on non-accrual loans: As of December 31, 2019 2018 (Dollars in Thousands) Residential One- to four-family $ 5,985 4,902 Multi family 667 1,309 Home equity 70 201 Construction and land - - Commercial real estate 303 125 Commercial - 18 Consumer - - Total non-accrual loans $ 7,025 6,555 Total non-accrual loans to total loans 0.51 % 0.48 % Total non-accrual loans to total assets 0.35 % 0.34 %

Office Properties and Equipme_2

Office Properties and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Office Properties and Equipment [Abstract]
Schedule of office properties and equipment	Office properties and equipment are summarized as follows: December 31, 2019 2018 (In Thousands) Land $ 7,516 7,357 Office buildings and improvements 34,433 32,473 Furniture and equipment 13,468 13,518 55,417 53,348 Less accumulated depreciation (30,389 ) (28,824 ) $ 25,028 24,524

Real Estate Owned (Tables)

Real Estate Owned (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate Owned [Abstract]
Real Estate Owned	Real estate owned is summarized as follows: December 31, 2019 2018 (In Thousands) One- to four-family $ 46 163 Multi-family - - Construction and land 1,256 3,327 Commercial real estate - 300 Total 1,302 3,790 Valuation allowance at end of period (554 ) (1,638 ) Total real estate owned, net $ 748 2,152 The following table presents the activity in real estate owned: Year Ended December 31, 2019 2018 (In Thousands) Real estate owned at beginning of period $ 2,152 4,558 Transferred in from loans receivable 1,052 545 Sales (2,446 ) (2,642 ) Write downs - (309 ) Other activity (10 ) - Real estate owned at end of period $ 748 2,152 Residential one- to four-family mortgage loans that were in the process of foreclosure were $2.3 million and $2.2 million at December 31, 2019 and December 31, 2018, respectively.

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 2018 (In Thousands) Mortgage servicing rights at beginning of the period $ 109 $ 888 Additions 354 427 Amortization (104 ) (191 ) Sales - (1,015 ) Mortgage servicing rights at end of the period 359 109 Valuation allowance at end of period (77 ) - Mortgage servicing rights at the end of the period, net $ 282 $ 109 During the year ended December 31, 2019, on a consolidated basis, $2.85 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 $2.77 billion, generating mortgage banking income of $125.7 million. The unpaid principal balance of loans serviced for others was $64.9 million and $14.1 million at December 31, 2019 and December 31, 2018 respectively. Loans serviced for others are not reflected in the consolidated statements of financial condition. The fair value of mortgage servicing rights were $282,000 at December 31, 2019 and $109,000 at December 31, 2018. During the year ended December 31, 2019, the Company did not sell any mortgage servicing rights. 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.
Estimated Amortization Expense of Mortgage Servicing Rights	The following table shows the estimated future amortization expense for mortgage servicing rights at December 31, 2019 for the years ended December 31 periods indicated: (In Thousands) 2020 $ 63 2021 55 2022 47 2023 39 2024 31 Thereafter 47 Total $ 282

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2019
Deposits [Abstract]
Summary of Interest Expense on Deposits	A summary of interest expense on deposits is as follows: Years ended December 31, 2019 2018 2017 (In Thousands) Interest-bearing demand deposits $ 33 33 28 Money market, savings, and escrow deposits 1,247 599 401 Time deposits 15,998 10,995 7,310 $ 17,278 11,627 7,739
Contractual Maturities of Time Deposits	A summary of the contractual maturities of time deposits at December 31, 2019 is as follows: (In Thousands) Within one year $ 665,703 One to two years 70,049 Two to three years 2,352 Three to four years 871 Four through five years 796 $ 739,771

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Borrowings [Abstract]
Borrowings	Borrowings consist of the following: December 31, 2019 December 31, 2018 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreements $ 13,562 4.66 % $ 5,046 5.39 % Long term: Federal Home Loan Bank advances maturing: 2027 50,000 1.73 % 175,000 1.38 % 2028 255,000 2.37 % 255,000 2.37 % 2029 165,000 1.61 % - - $ 483,562 2.11 % $ 435,046 2.01 %

Regulatory Capital (Tables)

Regulatory Capital (Tables)	12 Months Ended
	Dec. 31, 2019
Regulatory Capital [Abstract]
Actual and Required Capital Amounts and Ratios	The actual and required capital amounts and ratios as of December 31, 2019 and 2018 are presented in the table below: December 31, 2019 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. $ 404,748 26.17 % 123,731 8.00 % 162,398 10.500 % N/A N/A WaterStone Bank 353,357 22.85 % 123,716 8.00 % 162,378 10.500 % 154,646 10.00 % Tier I capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 392,361 25.37 % 92,799 6.00 % 131,465 8.500 % N/A N/A WaterStone Bank 340,970 22.05 % 92,787 6.00 % 131,449 8.500 % 123,716 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. 392,361 25.37 % 69,599 4.50 % 108,265 7.000 % N/A N/A WaterStone Bank 340,970 22.05 % 69,590 4.50 % 108,252 7.000 % 100,520 6.50 % Tier I capital (to average assets) Consolidated Waterstone Financial , Inc. 392,361 19.69 % 79,691 4.00 % N/A N/A N/A N/A WaterStone Bank 340,970 17.11 % 79,691 4.00 % N/A N/A 99,614 5.00 % State of Wisconsin (to total assets) WaterStone Bank 340,970 17.11 % 119,590 6.00 % N/A N/A N/A N/A December 31, 2018 (Dollars In Thousands) Total capital (to risk-weighted assets) Consolidated Waterstone Financial , Inc. $ 414,566 28.22 % 117,506 8.00 % 145,046 9.88 % N/A N/A WaterStone Bank 395,783 26.95 % 117,490 8.00 % 145,027 9.88 % 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 7.88 % N/A N/A WaterStone Bank 382,534 26.05 % 88,118 6.00 % 115,655 7.88 % 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 6.38 % N/A N/A WaterStone Bank 382,534 26.05 % 66,088 4.50 % 93,625 6.38 % 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

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018. 2019 2018 Minimum Maximum Minimum Maximum Dividend yield 2.56 % 2.92 % 2.70 % 2.74 % Risk-free interest rate 1.42 % 2.28 % 2.57 % 2.96 % Expected volatility 16.07 % 16.37 % 16.27 % 30.88 % Weighted average expected life 5.0 5.8 5.4 6.2 Weighted average per share value of options $ 1.72 2.12 1.97 4.26
Stock option activity	A summary of the Company’s stock option activity for the years ended December 31, 2019, 2018 and 2017 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, 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 Granted 30,000 17.13 56 Exercised (50,298 ) 13.10 298 Forfeited (15,000 ) 15.62 51 Outstanding December 31, 2019 1,025,771 13.29 5.56 5,887 Options exercisable at December 31, 2019 546,770 12.93 5.31 3,335 The following table summarizes information about the Company's stock options outstanding at December 31, 2019. 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 4,233 $ 1.73 2.01 4,233 $ 1.73 2.01 $ 5.01 - $10.00 - - - - - - $ 10.01 - $15.00 903,538 12.81 5.21 517,537 12.82 5.22 Over $15.01 118,000 17.55 8.36 25,000 17.84 7.75 1,025,771 $ 13.29 5.56 546,770 $ 12.93 5.31
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, 2019 and 2018: Stock Options Shares Weighted Average Grant Date Fair Value 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 Nonvested at December 31, 2018 640,001 3.30 Granted 30,000 1.87 Vested (176,000 ) 3.28 Forfeited (15,000 ) 2.34 Nonvested at December 31, 2019 479,001 3.24
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, 2019 and 2018: Restricted Stock Shares Weighted Average Grant Date Fair Value 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 Nonvested at December 31, 2018 162,600 12.85 Granted - - Vested (89,600 ) 12.84 Forfeited - - Nonvested at December 31, 2019 73,000 12.86

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 is as follows: 2019 2018 Beginning ESOP shares 1,580,671 1,686,049 Shares committed to be released (105,378 ) (105,378 ) Unreleased shares 1,475,293 1,580,671 Fair value of unreleased shares (in millions) $ 28.1 26.5

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Provision (benefit) for income taxes	The provision for income taxes for the year ended December 31, 2019, 2018 and 2017 consists of the following: Years ended December 31, 2019 2018 2017 (In Thousands) Current: Federal $ 8,377 7,087 13,028 State 2,655 1,904 2,362 11,032 8,991 15,390 Deferred: Federal 619 452 2,960 State 20 83 119 639 535 3,079 Total $ 11,671 9,526 18,469
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, 2019, 2018 and 2017 as follows: Years ended December 31, 2019 2018 2017 (Dollars In Thousands) Income before income taxes $ 47,574 40,280 44,433 Tax at Federal statutory rate (21% in 2019 and 2018, 35% in 2017) 9,991 8,459 15,552 Add (deduct) effect of: State income taxes net of Federal income tax benefit 2,113 1,570 1,613 Cash surrender value of life insurance (406 ) (388 ) (632 ) Non-deductible ESOP and stock option expense 186 188 380 Tax-exempt interest income (236 ) (248 ) (449 ) Non-deductible compensation 216 177 280 Deferred tax asset revaluation - - 2,644 Stock compensation (146 ) (160 ) (1,074 ) Other (47 ) (72 ) 155 Income tax provision 11,671 9,526 18,469 Effective tax rate 24.5 % 23.6 % 41.6 %
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, 2019 and 2018: December 31, 2019 2018 Gross deferred tax assets: (In Thousands) Restricted stock and stock options 440 526 Allowance for loan losses 3,031 3,239 Repurchase reserve for loans sold 244 139 Non-accrual interest 262 292 Real estate owned 305 741 Capital loss carryforward - 23 Unrealized loss on impaired securities 23 23 Unrealized loss on securities available for sale, net - 695 Lease liability 2,170 - Other 32 98 Total gross deferred tax assets 6,507 5,776 Gross deferred tax liabilities: Excess tax depreciation (80 ) (28 ) Unrealized gain on securities available for sale, net (429 ) - Mortgage servicing rights (75 ) (29 ) FHLB stock dividends (51 ) (68 ) Lease asset (2,053 ) - Deferred loan fees (406 ) (475 ) Deferred liabilities (3,094 ) (600 ) Net deferred tax assets $ 3,413 5,176

Commitments, Off-Balance Shee_2

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 2018 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under first mortgage loans (1) $ 13,389 33,762 Commitments to extend credit under home equity lines of credit 13,776 14,903 Unused portion of construction loans 90,439 79,776 Unused portion of business lines of credit 14,623 16,778 Standby letters of credit 885 860 (1)

Fair Values Measurements (Table

Fair Values Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Values Measurements [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents information about our assets and liabilities recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2019 and December 31, 2018, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2019 Level 1 Level 2 Level 3 (In Thousands) Assets Available for sale securities Mortgage-backed securities $ 34,150 - 34,150 - Collateralized mortgage obligations Government sponsored enterprise issued 81,754 - 81,754 - Municipal securities 53,692 - 53,692 - Other debt securities 8,880 - 8,880 - Loans held for sale 220,123 - 220,123 - Mortgage banking derivative assets 1,835 - - 1,835 Interest rate swap assets 680 - 680 - Liabilities Mortgage banking derivative liabilities - - - - Interest rate swap liabilities 680 - 680 - Fair Value Measurements Using December 31, 2018 Level 1 Level 2 Level 3 (In Thousands) Assets 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 Liabilities Mortgage banking derivative liabilities 1,116 - - 1,116
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 2019 and 2018. Mortgage banking derivatives, net Balance at December 31, 2017 $ 2,004 Transfer into level 3 - Mortgage derivative loss, net (1,106 ) Balance at December 31, 2018 898 Transfer into level 3 - Mortgage derivative gain, net 937 Balance at December 31, 2019 $ 1,835
Fair Value Measurements, Nonrecurring	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, 2019 and December 31, 2018, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using December 31, 2019 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 185 - - 185 Real estate owned 748 - - 748 Impaired mortgage servicing rights 206 - - 206 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 _________ (1)
Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques	For Level 3 assets and liabilities measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value at Significant Significant Unobservable Input Value December 31, 2019 Valuation Technique Unobservable Inputs Minimum Value Maximum Value Mortgage banking derivatives 1,835,000 Pricing models Pull through rate 24.8 % 100.0 % Impaired loans 185,000 Market approach Discount rates applied to appraisals 15.0 % 15.0 % Real estate owned 748,000 Market approach Discount rates applied to appraisals 36.1 % 65.2 % Mortgage servicing rights 282,000 Pricing models Prepayment rate 12.8 % 30.0 % Discount rate 11.0 % 12.1 % Cost to service $ 82.00 $ 247.00
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, 2019 and December 31, 2018: December 31, 2019 December 31, 2018 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 $ 74,300 74,300 65,800 8,500 - 86,101 86,101 73,601 12,500 - Securities available-for-sale 178,476 178,476 - 178,476 - 185,720 185,720 - 185,720 - Loans held for sale 220,123 220,123 - 220,123 - 141,616 141,616 - 141,616 - Loans receivable 1,388,031 1,426,224 - - 1,426,224 1,379,148 1,311,633 - - 1,311,633 FHLB stock 21,150 21,150 - 21,150 - 19,350 19,350 - 19,350 - Accrued interest receivable 5,344 5,344 5,344 - - 5,337 5,337 5,337 - - Mortgage servicing rights 282 282 - - 282 109 109 - - 109 Mortgage banking derivative assets 1,835 1,835 - - 1,835 2,014 2,014 - - 2,014 Interest rate swap assets 680 680 - 680 - - - - - - Financial Liabilities Deposits 1,067,776 1,070,083 328,005 742,078 - 1,038,495 1,038,544 302,622 735,922 - Advance payments by borrowers for taxes 4,212 4,212 4,212 - - 4,371 4,371 4,371 - - Borrowings 483,562 483,846 - 483,846 - 435,046 432,269 - 432,269 - Accrued interest payable 1,559 1,559 1,559 - - 1,395 1,395 1,395 - - Mortgage banking derivative liabilities - - - - - 1,116 1,116 - - 1,116 Interest rate swap liabilities 680 680 - 680 - - - - - -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Calculations for Basic and Diluted Earnings Per Share	Presented below are the calculations for basic and diluted earnings per share: For the year ended December 31, 2019 2018 2017 (In Thousands, except per share amounts) Net income $ 35,903 30,754 25,964 Weighted average shares outstanding 26,021 27,363 27,467 Effect of dilutive potential common shares 226 271 432 Diluted weighted average shares outstanding 26,247 27,634 27,899 Basic income per share $ 1.38 1.12 0.95 Diluted income per share $ 1.37 1.11 0.93

Condensed Parent Company Only_2

Condensed Parent Company Only Statements (Tables)	12 Months Ended
	Dec. 31, 2019
Condensed Parent Company Only Statements [Abstract]
Statements of Financial Condition	Statements of Financial Condition December 31, 2019 2018 (In Thousands) Assets Cash and cash equivalents $ 54,730 20,116 Investment in subsidiaries 342,295 380,897 Other assets 187 2,476 Total Assets $ 397,212 403,489 Liabilities and shareholders' equity Liabilities: Other liabilities $ 3,526 3,810 Shareholders' equity Preferred Stock (par value $.01 per share), Authorized - 50,000,000 shares in 2019 and 2018, no shares issued - - Common stock (par value $.01 per share), Authorized - 100,000,000 shares in 2019 and in 2018, Issued - 27,148,411 in 2019 and 28,463,239 in 2018, Outstanding - 27,148,411 in 2019 and 28,463,239 in 2018 271 285 Additional paid-in-capital 211,997 232,406 Retained earnings 197,393 187,153 Unearned ESOP shares (16,617 ) (17,804 ) Accumulated other comprehensive gain (loss) (net of taxes) 642 (2,361 ) Total shareholders' equity 393,686 399,679 Total liabilities and shareholders' equity $ 397,212 403,489
Statements of Operations	Statements of Operations For the year ended December 31, 2019 2018 2017 (In Thousands) Interest income $ 793 656 675 Equity in income of subsidiaries (distributed and undistributed) 35,784 30,722 25,937 Total income 36,577 31,378 26,612 Professional fees 58 37 57 Other expense 577 577 575 Total expense 635 614 632 Income before income tax expense 35,942 30,764 25,980 Income tax expense 39 10 16 Net income $ 35,903 30,754 25,964
Statements of Cash Flows	Statements of Cash Flows For the year ended December 31, 2019 2018 2017 (In Thousands) Cash flows from operating activities Net income $ 35,903 30,754 25,964 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Amortization of unearned ESOP 1,805 1,796 1,956 Stock based compensation 1,067 1,760 1,902 Deferred income taxes - - (58 ) Equity in earnings of subsidiaries (35,784 ) (30,722 ) (25,937 ) Change in other assets and liabilities 1,235 (4,019 ) 530 Net cash provided by (used in) operating activities 4,226 (431 ) 4,357 Net cash used in investing activities - - - Dividends received from subsidiary 78,456 36,535 14,698 Cash dividends on common stock (25,960 ) (27,050 ) (26,952 ) Proceeds from stock option exercises 659 1,304 1,052 Purchase of common stock returned to authorized but unissued (22,767 ) (19,196 ) (2,190 ) Net cash provided by (used in) financing activities 30,388 (8,407 ) (13,392 ) Net increase (decrease) in cash 34,614 (8,838 ) (9,035 ) Cash and cash equivalents at beginning of year 20,116 28,954 37,989 Cash and cash equivalents at end of year $ 54,730 20,116 28,954

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	As of or for the Year ended December 31, 2019 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income (loss) $ 54,019 (1,910 ) 88 52,197 Provision (credit) for loan losses (1,050 ) 150 - (900 ) Net interest income (loss) after provision for loan losses 55,069 (2,060 ) 88 53,097 Noninterest income 5,020 126,910 (1,180 ) 130,750 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 18,195 84,230 (707 ) 101,718 Occupancy, office furniture, and equipment 3,752 6,854 - 10,606 Advertising 920 2,965 - 3,885 Data processing 2,121 1,493 16 3,630 Communications 358 1,001 - 1,359 Professional fees 813 2,734 58 3,605 Real estate owned (176 ) 30 - (146 ) Loan processing expense - 3,288 - 3,288 Other 2,205 6,741 (618 ) 8,328 Total noninterest expenses 28,188 109,336 (1,251 ) 136,273 Income before income taxes 31,901 15,514 159 47,574 Income taxes 7,296 4,336 39 11,671 Net income $ 24,605 11,178 120 35,903 Total Assets $ 1,955,999 258,928 (218,580 ) 1,996,347 As of or for the Year ended December 31, 2018 Community Banking Mortgage Banking Holding Company and Other Consolidated (in thousands) Net interest income $ 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 (loss) 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

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Components of Operating Expenses	The cost components of our operating leases were as follows for the year ended December 31, 2019: Year ended December 31, 2019 (In Thousands) Operating lease cost $ 2,988 Variable cost 822 Short-term lease cost 965 Total $ 4,775
Other Information Related to Operating Leases	The table below summarizes other information related to our operating leases: Year ended December 31, 2019 (Dollars in Millions) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3.2 Initial recognition of right-of-use asset 11.4 Initial recognition of lease liabilities 11.9 Weighted average remaining lease term - operating leases, in years 3.11 Weighted average discount rate - operating leases 5.9 %
Maturity Analysis of Lease Liabilities	As of December 31, 2019, lease liability information for the Company is summarized in the following table. Maturity analysis Operating leases (In Thousands) One year or less $ 3,222 More than one year through two years 2,490 More than two years through three years 1,683 More than three years through four years 1,259 More than four years through five years 515 More than five years 983 Total lease payments 10,152 Present value discount (1,272 ) Lease liability $ 8,880

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2019SegmentPayment
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	74.60%
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

Securities, Part I (Details)

Securities, Part I (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Abstract]
Amortized cost	$ 176,903	$ 188,272
Gross unrealized gains	2,993	1,159
Gross unrealized losses	(1,420)	(3,711)
Fair value	178,476	185,720
Amortized cost of investment securities by contractual maturity [Abstract]
Due within one year	3,449
Due after one year through five years	33,200
Due after five years through ten years	14,615
Due after ten years	10,634
Mortgage-related securities	115,005
Amortized cost	176,903	188,272
Fair value of investment securities by contractual maturity [Abstract]
Due within one year	3,454
Due after one year through five years	33,843
Due after five years through ten years	15,618
Due after ten years	9,657
Mortgage-related securities	115,904
Fair value	178,476	185,720
Gross gains and losses from sales of investment securities available for sale [Abstract]
Gross gains	0	0	$ 0
Gross losses	0	0	(107)
Losses on sale of investment securities, net	0	0	(107)
Proceeds from sales of investment securities	0	0	$ 448
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	24,752	13,710
12 months or longer	18,909	104,766
Fair value	43,661	118,476
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(157)	(39)
12 months or longer	(1,263)	(3,672)
Unrealized loss	(1,420)	(3,711)
Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	33,773	42,105
Gross unrealized gains	422	91
Gross unrealized losses	(45)	(565)
Fair value	34,150	41,631
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	33,773	42,105
Fair value of investment securities by contractual maturity [Abstract]
Fair value	34,150	41,631
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	2,929	3,036
12 months or longer	2,849	33,029
Fair value	5,778	36,065
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(20)	(9)
12 months or longer	(25)	(556)
Unrealized loss	(45)	(565)
Collateralized Mortgage Obligations, Government Sponsored Enterprise Issued [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	81,232	75,923
Gross unrealized gains	776	243
Gross unrealized losses	(254)	(1,211)
Fair value	81,754	74,955
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	81,232	75,923
Fair value of investment securities by contractual maturity [Abstract]
Fair value	81,754	74,955
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	21,723	3,079
12 months or longer	7,180	47,279
Fair value	28,903	50,358
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(136)	(13)
12 months or longer	(118)	(1,198)
Unrealized loss	(254)	(1,211)
Mortgage-Related Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	115,005	118,028
Gross unrealized gains	1,198	334
Gross unrealized losses	(299)	(1,776)
Fair value	115,904	116,586
Securities pledged as collateral to secure repurchase agreements or related to mortgage banking activities	1,200
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	115,005	118,028
Fair value of investment securities by contractual maturity [Abstract]
Fair value	115,904	116,586
Municipal Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	51,898	55,242
Gross unrealized gains	1,795	825
Gross unrealized losses	(1)	(119)
Fair value	53,692	55,948
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	51,898	55,242
Fair value of investment securities by contractual maturity [Abstract]
Fair value	53,692	55,948
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	100	7,595
12 months or longer	0	11,272
Fair value	100	18,867
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(1)	(17)
12 months or longer	0	(102)
Unrealized loss	(1)	(119)
Other Debt Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	10,000	15,002
Gross unrealized gains	0	0
Gross unrealized losses	(1,120)	(1,816)
Fair value	8,880	13,186
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	10,000	15,002
Fair value of investment securities by contractual maturity [Abstract]
Fair value	8,880	13,186
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0	0
12 months or longer	8,880	13,186
Fair value	8,880	13,186
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0	0
12 months or longer	(1,120)	(1,816)
Unrealized loss	(1,120)	(1,816)
Debt Securities [Member]
Debt Securities, Available-for-sale [Abstract]
Amortized cost	61,898	70,244
Gross unrealized gains	1,795	825
Gross unrealized losses	(1,121)	(1,935)
Fair value	62,572	69,134
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized cost	61,898	70,244
Fair value of investment securities by contractual maturity [Abstract]
Fair value	$ 62,572	$ 69,134

Securities, Part II (Details)

Securities, Part II (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Security	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)
Other than Temporary Impairment [Abstract]
Gain on sale	$ 0	$ 0	$ (107,000)
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	7
Government-Sponsored Enterprise Bonds [Member]
Other than Temporary Impairment [Abstract]
Number of securities that were in unrealized loss position twelve months or longer | Security	9
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
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	1

Loans Receivable, Part I (Detai

Loans Receivable, Part I (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Mortgage Loans [Abstract]
Loans receivable	$ 1,388,031	$ 1,379,148
Percentage of total loans receivable secured by residential real estate	78.00%
Loans receivable pledged as collateral	$ 1,070,000	1,000
Advances by Federal Home Loan Bank	470,000	430,000
Loans receivable, related parties	6,300	5,300
Loans receivable, related parties, past due or impaired	0	0
Residential Real Estate [Member] | One-to-Four Family [Member]
Mortgage Loans [Abstract]
Loans receivable	480,280	489,979
Residential Real Estate [Member] | Multi Family [Member]
Mortgage Loans [Abstract]
Loans receivable	584,859	597,087
Residential Real Estate [Member] | Home Equity [Member]
Mortgage Loans [Abstract]
Loans receivable	18,071	19,956
Construction and Land [Member]
Mortgage Loans [Abstract]
Loans receivable	37,033	13,361
Commercial Real Estate [Member]
Mortgage Loans [Abstract]
Loans receivable	236,703	225,522
Consumer [Member]
Mortgage Loans [Abstract]
Loans receivable	832	433
Commercial Loans [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 30,253	$ 32,810

Loans Receivable, Part II (Deta

Loans Receivable, Part II (Details) - USD ($)		Dec. 31, 2019	Dec. 31, 2018
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 6,465,000	$ 6,950,000
Current	[1]	1,381,566,000	1,372,198,000
Total Loans		1,388,031,000	1,379,148,000
Loan Receivable, Nonaccrual Status		2,000,000	990,000,000,000
1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	1,185,000	1,807,000
Loan Receivable, 1 to 59 Days Past Due, Nonaccrual Status		53,000	422,000
60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	648,000	118,000
Loan Receivable, 60 to 89 Days Past Due, Nonaccrual Status		291,000	118,000
Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		4,632,000	5,025,000
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		5,786,000	5,433,000
Current	[1]	474,494,000	484,546,000
Total Loans		480,280,000	489,979,000
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]	1,179,000	1,523,000
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]	638,000	76,000
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		3,969,000	3,834,000
Residential Real Estate [Member] | Multi Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		360,000	937,000
Current	[1]	584,499,000	596,150,000
Total Loans		584,859,000	597,087,000
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	0
Residential Real Estate [Member] | Multi Family [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		360,000	937,000
Residential Real Estate [Member] | Home Equity [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		10,000	369,000
Current	[1]	18,061,000	19,587,000
Total Loans		18,071,000	19,956,000
Residential Real Estate [Member] | Home Equity [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	216,000
Residential Real Estate [Member] | Home Equity [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	10,000	42,000
Residential Real Estate [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	111,000
Construction and Land [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Current	[1]	37,033,000	13,361,000
Total Loans		37,033,000	13,361,000
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		303,000	164,000
Current	[1]	236,400,000	225,358,000
Total Loans		236,703,000	225,522,000
Commercial Real Estate [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	39,000
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		303,000	125,000
Consumer [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	29,000
Current	[1]	832,000	404,000
Total Loans		832,000	433,000
Consumer [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	29,000
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		6,000	18,000
Current	[1]	30,247,000	32,792,000
Total Loans		30,253,000	32,810,000
Commercial Loans [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	6,000	0
Commercial Loans [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Commercial Loans [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 0	$ 18,000
[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, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses [Roll Forward]
Balance at beginning of period	$ 13,249	$ 14,077	$ 16,029
Provision (credit) for loan losses	(900)	(1,060)	(1,166)
Charge-offs	(179)	(84)	(1,477)
Recoveries	217	316	691
Balance at end of period	12,387	13,249	14,077
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	39	186
Allowance related to loans collectively evaluated for impairment	12,348	13,063
Loans individually evaluated for impairment	10,057	12,100
Loans collectively evaluated for impairment	1,377,974	1,367,048
Total gross loans	1,388,031	1,379,148
Residential Real Estate [Member] | One-to-Four Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,742	5,794	7,164
Provision (credit) for loan losses	(845)	(142)	(299)
Charge-offs	(125)	(69)	(1,364)
Recoveries	135	159	293
Balance at end of period	4,907	5,742	5,794
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	32	73
Allowance related to loans collectively evaluated for impairment	4,875	5,669
Loans individually evaluated for impairment	8,725	7,642
Loans collectively evaluated for impairment	471,555	482,337
Total gross loans	480,280	489,979
Residential Real Estate [Member] | Multi Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	4,153	4,431	4,809
Provision (credit) for loan losses	(42)	(353)	(494)
Charge-offs	(3)	(14)	(92)
Recoveries	30	89	208
Balance at end of period	4,138	4,153	4,431
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	4,138	4,153
Loans individually evaluated for impairment	667	1,309
Loans collectively evaluated for impairment	584,192	595,778
Total gross loans	584,859	597,087
Residential Real Estate [Member] | Home Equity [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	325	356	364
Provision (credit) for loan losses	(107)	(56)	(34)
Charge-offs	(44)	(1)	0
Recoveries	27	26	26
Balance at end of period	201	325	356
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	46
Allowance related to loans collectively evaluated for impairment	201	279
Loans individually evaluated for impairment	84	246
Loans collectively evaluated for impairment	17,987	19,710
Total gross loans	18,071	19,956
Construction and Land [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	400	949	1,016
Provision (credit) for loan losses	210	(589)	(215)
Charge-offs	0	0	(14)
Recoveries	0	40	162
Balance at end of period	610	400	949
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	610	400
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	37,033	13,361
Total gross loans	37,033	13,361
Commercial Real Estate [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	2,126	1,881	1,951
Provision (credit) for loan losses	(4)	243	(64)
Charge-offs	(2)	0	(7)
Recoveries	25	2	1
Balance at end of period	2,145	2,126	1,881
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	7	67
Allowance related to loans collectively evaluated for impairment	2,138	2,059
Loans individually evaluated for impairment	581	2,885
Loans collectively evaluated for impairment	236,122	222,637
Total gross loans	236,703	225,522
Consumer [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	20	10	12
Provision (credit) for loan losses	(1)	10	(3)
Charge-offs	(5)	0	0
Recoveries	0	0	1
Balance at end of period	14	20	10
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	14	20
Loans individually evaluated for impairment	0	0
Loans collectively evaluated for impairment	832	433
Total gross loans	832	433
Commercial [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	483	656	713
Provision (credit) for loan losses	(111)	(173)	(57)
Charge-offs	0	0	0
Recoveries	0	0	0
Balance at end of period	372	483	$ 656
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	372	483
Loans individually evaluated for impairment	0	18
Loans collectively evaluated for impairment	30,253	32,792
Total gross loans	$ 30,253	$ 32,810

Loans Receivable, Part IV (Deta

Loans Receivable, Part IV (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable [Abstract]
At December 31, 2016	$ 1,388,031,000	$ 1,379,148,000
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	$ 224,000	3,062,000
Total Impaired, with no Reserve, Recorded Investment	9,833,000	9,038,000
Total Impaired, Recorded Investment	10,057,000	12,100,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	633,000	3,471,000
Total Impaired with no Reserve, Unpaid Principal Balance	11,680,000	10,811,000
Total Impaired, Unpaid Principal Balance, Total	12,313,000	14,282,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	39,000	186,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	39,000	186,000
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	1,847,000	1,773,000
Total Impaired, Cumulative Charge-offs	2,256,000	2,182,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	231,000	4,638,000
Total Impaired with no Reserve, Average Recorded Investment	10,170,000	9,306,000
Total Impaired, Average Recorded Investment, Total	10,401,000	13,944,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	15,000	220,000
Total Impaired with no Reserve, Interest Paid YTD	616,000	499,000
Total Impaired, Interest Paid YTD	631,000	719,000
Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	11,013,000	10,921,000
Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	8,237,000	10,870,000
Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	1,368,781,000	1,357,357,000
Residential Real Estate [Member] | One-to-Four Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	480,280,000	489,979,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	217,000	462,000
Total Impaired, with no Reserve, Recorded Investment	8,508,000	7,180,000
Total Impaired, Recorded Investment	8,725,000	7,642,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	217,000	462,000
Total Impaired with no Reserve, Unpaid Principal Balance	9,531,000	8,120,000
Total Impaired, Unpaid Principal Balance, Total	9,748,000	8,582,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	32,000	73,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	32,000	73,000
Impaired Loans Receivable, Cumulative Charge-Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0	0
Total Impaired with no Reserve, Cumulative Charge-offs	1,023,000	940,000
Total Impaired, Cumulative Charge-offs	1,023,000	940,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	221,000	470,000
Total Impaired with no Reserve, Average Recorded Investment	8,730,000	7,355,000
Total Impaired, Average Recorded Investment, Total	8,951,000	7,825,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	15,000	32,000
Total Impaired with no Reserve, Interest Paid YTD	508,000	383,000
Total Impaired, Interest Paid YTD	523,000	415,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	8,725,000	7,799,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	5,975,000	4,662,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	465,580,000	477,518,000
Residential Real Estate [Member] | Multi Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	584,859,000	597,087,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	0
Total Impaired, with no Reserve, Recorded Investment	667,000	1,309,000
Total Impaired, Recorded Investment	667,000	1,309,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	1,491,000	2,142,000
Total Impaired, Unpaid Principal Balance, Total	1,491,000	2,142,000
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	824,000	833,000
Total Impaired, Cumulative Charge-offs	824,000	833,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	705,000	1,351,000
Total Impaired, Average Recorded Investment, Total	705,000	1,351,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	78,000	96,000
Total Impaired, Interest Paid YTD	78,000	96,000
Residential Real Estate [Member] | Multi Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	668,000	1,309,000
Residential Real Estate [Member] | Multi Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	0	491,000
Residential Real Estate [Member] | Multi Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	584,191,000	595,287,000
Residential Real Estate [Member] | Home Equity [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	18,071,000	19,956,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0	107,000
Total Impaired, with no Reserve, Recorded Investment	84,000	139,000
Total Impaired, Recorded Investment	84,000	246,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	107,000
Total Impaired with no Reserve, Unpaid Principal Balance	84,000	139,000
Total Impaired, Unpaid Principal Balance, Total	84,000	246,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0	46,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	0	46,000
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	0	110,000
Total Impaired with no Reserve, Average Recorded Investment	88,000	144,000
Total Impaired, Average Recorded Investment, Total	88,000	254,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	7,000
Total Impaired with no Reserve, Interest Paid YTD	7,000	5,000
Total Impaired, Interest Paid YTD	7,000	12,000
Residential Real Estate [Member] | Home Equity [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	285,000	246,000
Residential Real Estate [Member] | Home Equity [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	3,000	468,000
Residential Real Estate [Member] | Home Equity [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	17,783,000	19,242,000
Construction and Land [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	37,033,000	13,361,000
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	37,033,000	13,361,000
Commercial Real Estate [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	236,703,000	225,522,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	7,000	2,493,000
Total Impaired, with no Reserve, Recorded Investment	574,000	392,000
Total Impaired, Recorded Investment	581,000	2,885,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	416,000	2,902,000
Total Impaired with no Reserve, Unpaid Principal Balance	574,000	392,000
Total Impaired, Unpaid Principal Balance, Total	990,000	3,294,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	7,000	67,000
Total Impaired with no Reserve, Reserve	0	0
Impaired Loans, Reserve	7,000	67,000
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	10,000	4,058,000
Total Impaired with no Reserve, Average Recorded Investment	647,000	431,000
Total Impaired, Average Recorded Investment, Total	657,000	4,489,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	181,000
Total Impaired with no Reserve, Interest Paid YTD	23,000	15,000
Total Impaired, Interest Paid YTD	23,000	196,000
Commercial Real Estate [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	581,000	678,000
Commercial Real Estate [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	1,412,000	4,343,000
Commercial Real Estate [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	234,710,000	220,501,000
Consumer [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	832,000	433,000
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	832,000	433,000
Commercial [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	30,253,000	32,810,000
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	0	18,000
Total Impaired, Recorded Investment	0	18,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0	0
Total Impaired with no Reserve, Unpaid Principal Balance	0	18,000
Total Impaired, Unpaid Principal Balance, Total	0	18,000
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	0	25,000
Total Impaired, Average Recorded Investment, Total	0	25,000
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	754,000	889,000
Commercial [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	847,000	906,000
Commercial [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	$ 28,652,000	$ 31,015,000

Loans Receivable, Part V (Detai

Loans Receivable, Part V (Details)	12 Months Ended
	Dec. 31, 2019USD ($)PaymentLoan	Dec. 31, 2018USD ($)Loan
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 4,018,000	$ 6,732,000
Total number of troubled debt restructurings | Loan	11	12
Valuation allowance with respect to troubled debt restructurings	$ 7,000	$ 67,000
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 3,570,000	$ 6,186,000
Number of loans performing in accordance with modified terms | Loan	9	10
Loans Receivable, Modifications, Loans in Default	$ 448,000	$ 546,000
Number of Loans in Default | Loan	2	2
Loans Receivable, Modifications, Total	$ 4,018,000	$ 6,732,000
Number of Loans, Total | Loan	11	12
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 0	$ 2,476,000
Number of loans modified as a troubled debt restructuring | Loan	0	1
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 7,025,000	$ 6,555,000
Ratio of total non-accrual loans to total loans, net of allowance	0.51%	0.48%
Ratio of total non-accrual loans to total assets	0.35%	0.34%
Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 3,425,000	$ 3,584,000
Total number of troubled debt restructurings | Loan	7	7
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 5,985,000	$ 4,902,000
Residential Real Estate [Member] | Multi Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 308,000	$ 372,000
Total number of troubled debt restructurings | Loan	2	2
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 667,000	$ 1,309,000
Residential Real Estate [Member] | Home Equity [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	70,000	201,000
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	$ 285,000	$ 2,776,000
Total number of troubled debt restructurings | Loan	2	3
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 0	$ 2,476,000
Number of loans modified as a troubled debt restructuring | Loan	0	1
Non-accrual Loans [Abstract]
Total non-accrual loans	$ 303,000	$ 125,000
Commercial [Member]
Non-accrual Loans [Abstract]
Total non-accrual loans	0	18,000
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	$ 3,018,000	$ 5,499,000
Total number of troubled debt restructurings | Loan	3	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] | Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 278,000	$ 2,759,000
Total number of troubled debt restructurings | Loan	1	2
Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,000,000	$ 1,233,000
Total number of troubled debt restructurings | Loan	8	8
Non-Accruing [Member] | Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 685,000	$ 844,000
Total number of troubled debt restructurings | Loan	5	5
Non-Accruing [Member] | Residential Real Estate [Member] | Multi Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 308,000	$ 372,000
Total number of troubled debt restructurings | Loan	2	2
Non-Accruing [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 7,000	$ 17,000
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	$ 3,246,000	$ 5,848,000
Number of loans performing in accordance with modified terms | Loan	6	7
Loans Receivable, Modifications, Loans in Default	$ 448,000	$ 546,000
Number of Loans in Default | Loan	2	2
Loans Receivable, Modifications, Total	$ 3,694,000	$ 6,394,000
Number of Loans, Total | Loan	8	9
Interest Reduction [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 324,000	$ 338,000
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	$ 324,000	$ 338,000
Number of Loans, Total | Loan	3	3

Office Properties and Equipme_3

Office Properties and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Office properties and equipment [Abstract]
Office properties and equipment, gross	$ 55,417	$ 53,348
Less accumulated depreciation	(30,389)	(28,824)
Office properties and equipment, net	25,028	24,524
Depreciation of premises and equipment	2,507	2,296	$ 2,050
Rent expense totaled	4,800	5,200	$ 4,800
Minimum annual commitments under all non-cancelable lease agreements [Abstract]
Within one year
One to two years
Two to three years
Three to four years
Four through five years
After five years
Total
Land [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	7,516	7,357
Office Buildings and Improvements [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	34,433	32,473
Furniture and Equipment [Member]
Office properties and equipment [Abstract]
Office properties and equipment, gross	$ 13,468	$ 13,518

Real Estate Owned (Details)

Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Abstract]
Real estate owned, net	$ 748	$ 2,152	$ 4,558
Transferred from loans receivable	1,052	545
Sales	(2,446)	(2,642)
Write downs	0	(309)
Other activity	(10)	0
Mortgage loans in process of foreclosure	2,300	2,200
One-to-Four Family [Member]
Real Estate [Abstract]
Real estate owned, net	46	163
Multi Family [Member]
Real Estate [Abstract]
Real estate owned, net	0	0
Construction and Land [Member]
Real Estate [Abstract]
Real estate owned, net	1,256	3,327
Commercial Real Estate [Member]
Real Estate [Abstract]
Real estate owned, net	0	300
Real Estate Owned Prior To Valuation Allowance [Member]
Real Estate [Abstract]
Real estate owned, net	1,302	3,790
Valuation Allowance, Real Estate Owned [Member]
Real Estate [Abstract]
Valuation allowance at end of period	$ (554)	$ (1,638)

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Mortgage servicing rights [Roll Forward]
Mortgage servicing rights, beginning balance	$ 109,000	$ 888,000
Additions	354,000	427,000
Amortization	(104,000)	(191,000)
Sales	0	(1,015,000)
Mortgage servicing rights, end of period net	359,000	109,000
Valuation allowance at end of period	(77,000)	0
Mortgage servicing rights, end of period net	282,000	109,000
MSR Sales [Abstract]
Loans Originated for Sale - Residential	2,850,000,000
Sales of loans held for sale	2,770,000,000
Generated mortgage banking income	125,700,000
Loans sold on a servicing retained basis	64,900,000	14,100,000
Mortgage servicing rights sold	0	148,700,000
Mortgage servicing rights book value	0	1,000,000
Sold mortgage servicing rights	0	1,400,000
Gain on sale of MSR	0	$ 417,000
Mortgage Servicing Rights [Member]
Estimated future servicing rights amortization expense by period [Abstract]
2019	63,000
2020	55,000
2021	47,000
2022	39,000
2023	31,000
Thereafter	47,000
Total	$ 282,000

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deposits [Abstract]
Time Deposits	$ 70,600	$ 60,100
Summary of interest expense on deposits [Abstract]
Interest-bearing demand deposits	33	33	$ 28
Money market and savings deposits	1,247	599	401
Time deposits	15,998	10,995	7,310
Interest expense on deposits	17,278	11,627	$ 7,739
Summary of the contractual maturities of time deposits [Abstract]
Within one year	665,703
One to two years	70,049
Two to three years	2,352
Three to four years	871
Four through five years	796
Time deposits	$ 739,771	$ 735,873

Borrowings (Details)

Borrowings (Details) $ in Thousands	Dec. 31, 2019USD ($)Agreement	Dec. 31, 2018USD ($)
Debt Instruments [Abstract]
Long-term borrowings	$ 483,562	$ 435,046
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	$ 21,200	19,400
FHLB Single Call Option in May 2019 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2027
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	2027
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	2027
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	2027
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	2028
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	2028
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	2028
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	2028
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	2028
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	2028
Number of Federal Home Loan Bank Advances | Agreement	1
Interest rate	2.57%
Repurchase Agreements [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 13,562	$ 5,046
Weighted average rate	4.66%	5.39%
Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 483,562	$ 435,046
Weighted average rate	2.11%	2.01%
Long Term Debt Maturing 2021 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000	$ 175,000
Weighted average rate	1.73%	1.38%
Long Term Debt Maturing 2027 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 255,000	$ 255,000
Weighted average rate	2.37%	2.37%
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 165,000	$ 0
Weighted average rate	1.61%	0.00%

Regulatory Capital (Details)

Regulatory Capital (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 404,748	$ 414,566
Tier I capital (to risk-weighted assets)	392,361	401,317
Common Equity Tier 1 Capital (to risk-weighted assets)	392,361	401,317
Tier I capital (to average assets)	$ 392,361	$ 401,317
Total capital (to risk-weighted assets) Ratio	26.17%	28.22%
Tier I capital (to risk-weighted assets) Ratio	25.37%	27.32%
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	25.37%	27.32%
Tier I capital (to average assets) Ratio	19.69%	21.06%
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 123,731	$ 117,506
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	92,799	88,130
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	69,599	66,097
Tier I capital (to average assets), For Capital Adequacy Purposes	$ 79,691	$ 76,214
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	$ 162,398	$ 145,046
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	131,465	115,670
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	$ 108,265	$ 93,638
Total Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	10.50%	9.88%
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	8.50%	7.88%
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	7.00%	6.38%
Waterstone Bank [Member]
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 353,357	$ 395,783
Tier I capital (to risk-weighted assets)	340,970	382,534
Common Equity Tier 1 Capital (to risk-weighted assets)	340,970	382,534
Tier I capital (to average assets)	340,970	382,534
State of Wisconsin (to total assets)	$ 340,970	$ 382,534
Total capital (to risk-weighted assets) Ratio	22.85%	26.95%
Tier I capital (to risk-weighted assets) Ratio	22.05%	26.05%
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	22.05%	26.05%
Tier I capital (to average assets) Ratio	17.11%	20.08%
State of Wisconsin (to total assets) Ratio	17.11%	20.01%
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 123,716	$ 117,490
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	92,787	88,118
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	69,590	66,088
Tier I capital (to average assets), For Capital Adequacy Purposes	79,691	76,214
State of Wisconsin (to total assets), For Capital Adequacy Purposes	$ 119,590	$ 114,712
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	$ 162,378	$ 145,027
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	131,449	115,655
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer	$ 108,252	$ 93,625
Total Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	10.50%	9.88%
Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	8.50%	7.88%
Common Equity Tier 1 Capital (to risk-weighted assets) For Minimum Capital Adequacy with Capital Buffer Ratio	7.00%	6.38%
Total capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 154,646	$ 146,863
Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	123,716	117,490
Common Equity Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	100,520	95,461
Tier I capital (to average assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 99,614	$ 95,268
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, 2019USD ($)Installment$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Stock option activity shares [Roll Forward]
Outstanding, beginning balance (in shares)	1,061,069	1,159,099	1,362,499
Options exercisable, beginning balance (in shares)	421,068	331,097	304,595
Granted (in shares)	30,000	80,000	20,000
Exercised (in shares)	(50,298)	(106,030)	(211,205)
Forfeited (in shares)	(15,000)	(72,000)	(12,195)
Outstanding, ending balance (in shares)	1,025,771	1,061,069	1,159,099	1,362,499
Options exercisable, ending balance (in shares)	546,770	421,068	331,097	304,595
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 13.21	$ 12.89	$ 11.83
Options exercisable, beginning balance (in dollars per share) | $ / shares	12.78	12.53	9.66
Granted (in dollars per share) | $ / shares	17.13	17.23	18.78
Exercised (in dollars per share) | $ / shares	13.10	12.30	6.48
Forfeited (in dollars per share) | $ / shares	15.62	13.97	14.83
Outstanding, ending balance (in dollars per share) | $ / shares	13.29	13.21	12.89	$ 11.83
Options exercisable, ending balance (in dollars per share) | $ / shares	$ 12.93	$ 12.78	$ 12.53	$ 9.66
Weighted Average Years Remaining in Contractual Term [Abstract]
Outstanding, Weighted Average Years Remaining in Contractual Term	5 years 6 months 22 days	6 years 5 months 19 days	7 years 2 months 26 days	7 years 8 months 26 days
Options exercisable, Weighted Average Years Remaining in Contractual Term	5 years 3 months 22 days	6 years 2 months 23 days	7 years 1 month 6 days	6 years 5 months 8 days
Aggregate Intrinsic Value [Abstract]
Outstanding, Aggregate Intrinsic Value, beginning period | $	$ 3,850,000	$ 4,870,000	$ 8,785,000
Options exercisable, Aggregate Intrinsic Value, beginning period | $	1,688,000	1,501,000	2,625,000
Granted, Aggregate Intrinsic Value | $	56,000	3,000	(35,000)
Exercised, Aggregate Intrinsic Value | $	298,000	473,000	2,233,000
Forfeited, Aggregate Intrinsic Value | $	51,000	224,000	27,000
Outstanding, Aggregate Intrinsic Value, ending period | $	5,887,000	3,850,000	4,870,000	$ 8,785,000
Options exercisable, Aggregate Intrinsic Value, ending period | $	$ 3,335,000	$ 1,688,000	$ 1,501,000	$ 2,625,000
Stock Options Outstanding [Abstract]
Options Outstanding Summary	1,025,771
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 13.29
Options Outstanding Remaining Life Years	5 years 6 months 22 days
Options Exercisable Range of Exercise Prices	546,770
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 12.93
Options Exercisable Remaining Life Years	5 years 3 months 22 days
Nonvested stock option and restricted stock shares [Roll Forward]
Granted (in shares)	30,000	80,000	20,000
Vested (in shares)	0	(4,000)	0
Forfeited (in shares)	(15,000)	(72,000)	(12,195)
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Unrecognized stock based compensation expense | $	$ 1,100,000
Unrecognized stock based compensation expense recognize period	24 months
Minimum [Member]
Schedule for assumptions for estimating the fair value of options granted [Abstract]
Dividend Yield	2.56%	2.70%
Risk-free interest rate	1.42%	2.57%
Expected volatility	16.07%	16.27%
Weighted average expected life	5 years	5 years 4 months 24 days
Weighted average per share value of options (in dollars per share) | $ / shares	$ 1.72	$ 1.97
Maximum [Member]
Schedule for assumptions for estimating the fair value of options granted [Abstract]
Dividend Yield	2.92%	2.74%
Risk-free interest rate	2.28%	2.96%
Expected volatility	16.37%	30.88%
Weighted average expected life	5 years 9 months 18 days	6 years 2 months 12 days
Weighted average per share value of options (in dollars per share) | $ / shares	$ 2.12	$ 4.26
$0.01 - $5.00 [Member]
Stock Options Outstanding [Abstract]
Options Outstanding Summary	4,233
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 1.73
Options Outstanding Remaining Life Years	2 years 4 days
Options Exercisable Range of Exercise Prices	4,233
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 1.73
Options Exercisable Remaining Life Years	2 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	903,538
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 12.81
Options Outstanding Remaining Life Years	5 years 2 months 16 days
Options Exercisable Range of Exercise Prices	517,537
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 12.82
Options Exercisable Remaining Life Years	5 years 2 months 19 days
Over $15.01 [Member]
Stock Options Outstanding [Abstract]
Options Outstanding Summary	118,000
Options Weighted Average Exercise Price on Stock Options | $ / shares	$ 17.55
Options Outstanding Remaining Life Years	8 years 4 months 10 days
Options Exercisable Range of Exercise Prices	25,000
Options Exercisable Weighted Average Exercise Price | $ / shares	$ 17.84
Options Exercisable Remaining Life Years	7 years 9 months
Stock Options [Member]
Nonvested stock option and restricted stock shares [Roll Forward]
Nonvested, beginning period (in shares)	640,001	828,002
Granted (in shares)	30,000	80,000
Vested (in shares)	(176,000)	(200,001)
Forfeited (in shares)	(15,000)	(68,000)
Nonvested, ending period (in shares)	479,001	640,001	828,002
Nonvested stock option and restricted stock weighted average grant date fair value [Roll Forward]
Nonvested, beginning period (in dollars per share) | $ / shares	$ 3.30	$ 3.27
Granted (in dollars per share) | $ / shares	1.87	3.66
Vested (in dollars per share) | $ / shares	3.28	3.27
Forfeited (in dollars per share) | $ / shares	2.34	3.46
Nonvested, ending period (in dollars per share) | $ / shares	$ 3.24	$ 3.30	$ 3.27
Share-based compensation expense | $	$ 582,000	$ 608,000	$ 638,000
Restricted Stock [Member]
Nonvested stock option and restricted stock shares [Roll Forward]
Nonvested, beginning period (in shares)	162,600	259,200
Granted (in shares)	0	0
Vested (in shares)	(89,600)	(93,100)
Forfeited (in shares)	0	(3,500)
Nonvested, ending period (in shares)	73,000	162,600	259,200
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	12.84	$ 12.85
Forfeited (in dollars per share) | $ / shares	0	12.75
Nonvested, ending period (in dollars per share) | $ / shares	$ 12.86	$ 12.85
Share-based compensation expense | $	$ 486,000,000,000	$ 1,200,000	$ 1,300,000
Unrecognized stock based compensation expense | $	$ 660,000,000,000
Unrecognized stock based compensation expense recognize period	25 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)	1,302,000
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, 2019USD ($)Plan	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Defined Benefit Plan [Abstract]
Number of 401(k) profit sharing plans | Plan	2
Contributions to the Plans | $	$ 1,100,000	$ 971,000	$ 825,000
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, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Dec. 31, 2014USD ($)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	$ 1.8	$ 2
Aggregate activity of unearned ESOP shares [Abstract]
Beginning ESOP shares (in shares)	1,580,671	1,686,049
Shares committed to be released (in shares)	(105,378)	(105,378)
Unreleased shares (in shares)	1,475,293	1,580,671
Fair value of unreleased shares | $	$ 28.1	$ 26.5
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, 2019	Dec. 31, 2018	Dec. 31, 2017
Current [Abstract]
Federal		$ 8,377,000	$ 7,087,000	$ 13,028,000
State		2,655,000	1,904,000	2,362,000
Current Total		11,032,000	8,991,000	15,390,000
Deferred [Abstract]
Federal		619,000	452,000	2,960,000
State		20,000	83,000	119,000
Deferred Total		639,000	535,000	3,079,000
Total		11,671,000	9,526,000	18,469,000
Differential income tax provisions computed at the Federal statutory corporate tax rate [Abstract]
Income before income taxes		47,574,000	40,280,000	44,433,000
Tax at Federal statutory rate (21% in 2018, 35% in 2017 and 2016)		9,991,000	8,459,000	15,552,000
Add (deduct) effect of [Abstract]
State income taxes net of Federal income tax benefit		2,113,000	1,570,000	1,613,000
Cash surrender value of life insurance		(406,000)	(388,000)	(632,000)
Non-deductible ESOP and stock option expense		186,000	188,000	380,000
Tax-exempt interest income		(236,000)	(248,000)	(449,000)
Non-deductible compensation		216,000	177,000	280,000
Deferred tax asset revaluation		0	0	2,644,000
Stock compensation		(146,000)	(160,000)	(1,074,000)
Other		(47,000)	(72,000)	155,000
Total		$ 11,671,000	$ 9,526,000	$ 18,469,000
Effective tax rate		24.50%	23.60%	41.60%
Gross deferred tax assets [Abstract]
Restricted stock and stock options		$ 440,000	$ 526,000
Allowance for loan losses		3,031,000	3,239,000
Repurchase reserve for loans sold		244,000	139,000
Interest recognized for tax but not books		262,000	292,000
Real estate owned		305,000	741,000
Capital loss carryforward		0	23,000
Unrealized loss on impaired securities		23,000	23,000
Unrealized loss on securities available for sale, net		0	695,000
Liability Lease		2,170,000	0
Other		32,000	98,000
Total gross deferred tax assets		6,507,000	5,776,000
Gross deferred tax liabilities [Abstract]
Excess tax depreciation		(80,000)	(28,000)
Unrealized gain on securities available for sale, net		(429,000)	0
Mortgage Servicing Rights		(75,000)	(29,000)
FHLB stock		(51,000)	(68,000)
Lease Asset		(2,053,000)	0
Deferred loan fees		(406,000)	(475,000)
Deferred liabilities		(3,094,000)	(600,000)
Net deferred tax assets		$ 3,413,000	$ 5,176,000
Operating Loss Carryforwards [Abstract]
Federal statutory rate		21.00%	21.00%	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		$ 22,000
Operating Loss Carryforwards, Expiration Year		2028

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, 2019	Dec. 31, 2018
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]	$ 13,389	$ 33,762
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		13,776	14,903
Unused Portion of Construction Loans [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		90,439	79,776
Unused Portion of Business Lines of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		14,623	16,778
Standby Letters of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks liability amount		885	860
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, 2019USD ($)
Forward Commitments to Sell Mortgage Loans [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	$ 345
Gain (loss) reported as a component of other assets	3,000
Interest Rate Lock Commitments [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	174.3
Gain (loss) reported as a component of other assets	$ 1.8

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, 2019	Dec. 31, 2018
Available for sale securities [Abstract]
Loans held for sale	$ 220,123	$ 141,616
Recurring [Member]
Available for sale securities [Abstract]
Mortgage-backed securities	34,150	41,631
Collateralized mortgage obligations, Government sponsored enterprise issued	81,754	74,955
Municipal securities	53,692	55,948
Other debt securities	8,880	13,186
Loans held for sale	220,123	141,616
Mortgage banking derivative assets	1,835	2,014
Interest rate swap assets	680
Mortgage banking derivatives liabilities	0	1,116
Interest rate swap liabilities	680
Recurring [Member] | Level 1 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities	0	0
Collateralized mortgage obligations, Government sponsored enterprise issued	0	0
Municipal securities	0	0
Other debt securities	0	0
Loans held for sale	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	0
Mortgage banking derivatives liabilities	0	0
Interest rate swap liabilities	0
Recurring [Member] | Level 2 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities	34,150	41,631
Collateralized mortgage obligations, Government sponsored enterprise issued	81,754	74,955
Municipal securities	53,692	55,948
Other debt securities	8,880	13,186
Loans held for sale	220,123	141,616
Mortgage banking derivative assets	0	0
Interest rate swap assets	680
Mortgage banking derivatives liabilities	0	0
Interest rate swap liabilities	680
Recurring [Member] | Level 3 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities	0	0
Collateralized mortgage obligations, Government sponsored enterprise issued	0	0
Municipal securities	0	0
Other debt securities	0	0
Loans held for sale	0	0
Mortgage banking derivative assets	1,835	2,014
Interest rate swap assets	0
Mortgage banking derivatives liabilities	0	$ 1,116
Interest rate swap liabilities	$ 0

Fair Values Measurements, Fai_2

Fair Values Measurements, Fair Value of Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Mortgage Banking Derivatives, Net [Member] - Recurring [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Beginning balance	$ 898	$ 2,004
Transfer into level 3	0	0
Mortgage derivative gain (loss), net	937	(1,106)
Ending balance	$ 1,835	$ 898

Fair Values Measurements, Fai_3

Fair Values Measurements, Fair Value of Assets and Liabilities Measured on Non-recurring Basis (Details) - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Fair Values Measurements [Abstract]
Loans, impaired, outstanding balance		$ 224,000	$ 3,100,000
Loans, impaired, specific reserve		39,000	186,000
Real estate owned, change in fair Value		0	309,000
Non-Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans, net	[1]	185,000	2,876,000
Real estate owned		748,000	2,152,000
Impaired mortgage servicing rights		206,000
Non-Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans, net	[1]	0	0
Real estate owned		0	0
Impaired mortgage servicing rights		0
Non-Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans, net	[1]	0	0
Real estate owned		0	0
Impaired mortgage servicing rights		0
Non-Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans, net	[1]	185,000	2,876,000
Real estate owned		748,000	$ 2,152,000
Impaired mortgage servicing rights		$ 206,000
[1]	Represents collateral-dependent impaired loans, net, which are included in loans.

Fair Values Measurements, Fai_4

Fair Values Measurements, Fair Value of Assets and Liabilities Measured on Non-recurring Basis, Significant Unobservable Inputs (Details)	Dec. 31, 2019USD ($)
Market Approach [Member] | Discount Rates Applied to Appraisals [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans	$ 185,000
Real estate owned	748,000
Pricing Models [Member] | Pull Through Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage banking derivative	1,835,000
Pricing Models [Member] | Prepayment Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights	$ 282,000
Minimum [Member] | Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Discount rate	0.110
Minimum [Member] | Cost To Service [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Cost to service	$ 82
Minimum [Member] | Market Approach [Member] | Discount Rates Applied to Appraisals [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans, measurement input	0.150
Real estate owned, measurement input	0.361
Minimum [Member] | Pricing Models [Member] | Pull Through Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage banking derivates, measurement input	0.248
Minimum [Member] | Pricing Models [Member] | Prepayment Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights, measurement input	0.128
Maximum [Member] | Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Discount rate	0.121
Maximum [Member] | Cost To Service [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Cost to service	$ 247
Maximum [Member] | Market Approach [Member] | Discount Rates Applied to Appraisals [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans, measurement input	0.150
Real estate owned, measurement input	0.652
Maximum [Member] | Pricing Models [Member] | Pull Through Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage banking derivates, measurement input	1
Maximum [Member] | Pricing Models [Member] | Prepayment Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights, measurement input	0.300

Fair Values Measurements, by Ba

Fair Values Measurements, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial Assets [Abstract]
Securities available-for-sale	$ 178,476	$ 185,720
Loans held for sale	220,123	141,616
Financial Liabilities [Abstract]
Advance payments by borrowers for taxes	4,212	4,371
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and cash equivalents	74,300	86,101
Securities available-for-sale	178,476	185,720
Loans held for sale	220,123	141,616
Loans receivable	1,388,031	1,379,148
FHLB stock	21,150	19,350
Accrued interest receivable	5,344	5,337
Mortgage servicing rights	282	109
Mortgage banking derivative assets	1,835	2,014
Interest rate swap assets	680	0
Financial Liabilities [Abstract]
Deposits	1,067,776	1,038,495
Advance payments by borrowers for taxes	4,212	4,371
Borrowings	483,562	435,046
Accrued interest payable	1,559	1,395
Mortgage banking derivative liabilities	0	1,116
Interest rate swap liabilities	680	0
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	74,300	86,101
Securities available-for-sale	178,476	185,720
Loans held for sale	220,123	141,616
Loans receivable	1,426,224	1,311,633
FHLB stock	21,150	19,350
Accrued interest receivable	5,344	5,337
Mortgage servicing rights	282	109
Mortgage banking derivative assets	1,835	2,014
Interest rate swap assets	680	0
Financial Liabilities [Abstract]
Deposits	1,070,083	1,038,544
Advance payments by borrowers for taxes	4,212	4,371
Borrowings	483,846	432,269
Accrued interest payable	1,559	1,395
Mortgage banking derivative liabilities	0	1,116
Interest rate swap liabilities	680	0
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	65,800	73,601
Securities available-for-sale	0	0
Loans held for sale	0	0
Loans receivable	0	0
FHLB stock	0	0
Accrued interest receivable	5,344	5,337
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	0	0
Financial Liabilities [Abstract]
Deposits	328,005	302,622
Advance payments by borrowers for taxes	4,212	4,371
Borrowings	0	0
Accrued interest payable	1,559	1,395
Mortgage banking derivative liabilities	0	0
Interest rate swap liabilities	0	0
Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	8,500	12,500
Securities available-for-sale	178,476	185,720
Loans held for sale	220,123	141,616
Loans receivable	0	0
FHLB stock	21,150	19,350
Accrued interest receivable	0	0
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	680	0
Financial Liabilities [Abstract]
Deposits	742,078	735,922
Advance payments by borrowers for taxes	0	0
Borrowings	483,846	432,269
Accrued interest payable	0	0
Mortgage banking derivative liabilities	0	0
Interest rate swap liabilities	680	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	1,426,224	1,311,633
FHLB stock	0	0
Accrued interest receivable	0	0
Mortgage servicing rights	282	109
Mortgage banking derivative assets	1,835	2,014
Interest rate swap assets	0	0
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	0	1,116
Interest rate swap liabilities	$ 0	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Basic and Diluted Earnings Per Share Calculations [Abstract]
Net income	$ 35,903	$ 30,754	$ 25,964
Weighted average shares outstanding (in shares)	26,021	27,363	27,467
Effect of dilutive potential common shares (in shares)	226	271	432
Diluted weighted average shares outstanding (in shares)	26,247	27,634	27,899
Basic income per share (in dollars per share)	$ 1.38	$ 1.12	$ 0.95
Diluted income per share (in dollars per share)	$ 1.37	$ 1.11	$ 0.93

Condensed Parent Company Only_3

Condensed Parent Company Only Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets [Abstract]
Cash and cash equivalents	$ 74,300	$ 86,101
Total assets	1,996,347	1,915,381	$ 1,806,401
Liabilities [Abstract]
Other liabilities	47,111	37,790
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	271	285
Additional paid-in-capital	211,997	232,406
Retained earnings	197,393	187,153
Unearned ESOP shares	(16,617)	(17,804)
Accumulated other comprehensive loss (net of taxes)	642	(2,361)
Total shareholders' equity	393,686	399,679	412,104	$ 410,690
Total liabilities and shareholders' equity	$ 1,996,347	$ 1,915,381
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)	27,148,411	28,463,239
Common stock - shares outstanding (in shares)	27,148,411	28,463,239
Statements of Operations [Abstract]
Interest income	$ 79,741	$ 73,700	67,095
Net interest income	52,197	54,177	50,733
Compensation	101,718	97,784	97,084
Professional fees	3,605	2,327	2,656
Other expense	8,328	10,291	11,188
Total noninterest expenses	136,273	133,156	131,879
Income before income taxes	47,574	40,280	44,433
Income tax expense	11,671	9,526	18,469
Net income	35,903	30,754	25,964
Cash flows from operating activities [Abstract]
Net income	35,903	30,754	25,964
Adjustments to reconcile net income to net cash (used in) provided by operating activities [Abstract]
Amortization of unearned ESOP	1,805	1,796	1,956
Stock based compensation	1,067	1,760	1,902
Deferred income taxes	639	535	3,079
Change in other assets and liabilities	(1,367)	1,551	1,433
Net cash provided by (used in) operating activities	(40,219)	42,936	107,097
Net cash used in investing activities	(1,152)	(79,871)	(94,876)
Cash dividends on common stock	(25,960)	(27,050)	(26,952)
Proceeds from stock option exercises	659	1,304	1,052
Purchase of common stock returned to authorized but unissued	(22,767)	(19,196)	(2,190)
Net cash provided by (used in) financing activities	29,570	74,429	(10,831)
Net (decrease) increase in cash	(11,801)	37,494	1,390
Cash and cash equivalents at beginning of year	86,101	48,607	47,217
Cash and cash equivalents at end of year	74,300	86,101	48,607
Cash flows from investing activities [Abstract]
Proceeds from Sale of Available-for-sale Securities, Debt	0	0	448
Parent Company [Member]
Assets [Abstract]
Cash and cash equivalents	54,730	20,116
Investment in subsidiaries	342,295	380,897
Other assets	187	2,476
Total assets	397,212	403,489
Liabilities [Abstract]
Other liabilities	3,526	3,810
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	271	285
Additional paid-in-capital	211,997	232,406
Retained earnings	197,393	187,153
Unearned ESOP shares	(16,617)	(17,804)
Accumulated other comprehensive loss (net of taxes)	642	(2,361)
Total shareholders' equity	393,686	399,679
Total liabilities and shareholders' equity	$ 397,212	$ 403,489
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)	27,148,411	28,463,239
Common stock - shares outstanding (in shares)	27,148,411	28,463,239
Statements of Operations [Abstract]
Interest income	$ 793	$ 656	675
Equity in income of subsidiaries (distributed and undistributed)	35,784	30,722	25,937
Net interest income	36,577	31,378	26,612
Professional fees	58	37	57
Other expense	577	577	575
Total noninterest expenses	635	614	632
Income before income taxes	35,942	30,764	25,980
Income tax expense	39	10	16
Net income	35,903	30,754	25,964
Cash flows from operating activities [Abstract]
Net income	35,903	30,754	25,964
Adjustments to reconcile net income to net cash (used in) provided by operating activities [Abstract]
Amortization of unearned ESOP	1,805	1,796	1,956
Stock based compensation	1,067	1,760	1,902
Deferred income taxes	0	0	(58)
Equity in earnings of subsidiaries	(35,784)	(30,722)	(25,937)
Change in other assets and liabilities	1,235	(4,019)	530
Net cash provided by (used in) operating activities	4,226	(431)	4,357
Net cash used in investing activities	0	0	0
Dividends received from subsidiary	78,456	36,535	14,698
Cash dividends on common stock	(25,960)	(27,050)	(26,952)
Proceeds from stock option exercises	659	1,304	1,052
Purchase of common stock returned to authorized but unissued	(22,767)	(19,196)	(2,190)
Net cash provided by (used in) financing activities	30,388	(8,407)	(13,392)
Net (decrease) increase in cash	34,614	(8,838)	(9,035)
Cash and cash equivalents at beginning of year	20,116	28,954	37,989
Cash and cash equivalents at end of year	$ 54,730	$ 20,116	$ 28,954

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)Segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of operating segments | Segment	2
Net Income (Loss) [Abstract]
Net interest income (loss)	$ 52,197	$ 54,177	$ 50,733
Provision (credit) for loan losses	(900)	(1,060)	(1,166)
Net interest income after provision for loan losses	53,097	55,237	51,899
Noninterest income	130,750	118,199	124,413
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	101,718	97,784	97,084
Occupancy, office furniture and equipment	10,606	10,855	10,178
Advertising	3,885	4,123	3,333
Data processing	3,630	2,792	2,439
Communications	1,359	1,611	1,560
Professional fees	3,605	2,327	2,656
Real estate owned	(146)	1	379
Loan processing expense	3,288	3,372	3,062
Other	8,328	10,291	11,188
Total noninterest expenses	136,273	133,156	131,879
Income before income taxes	47,574	40,280	44,433
Income taxes	11,671	9,526	18,469
Net income	35,903	30,754	25,964
Total Assets	1,996,347	1,915,381	1,806,401
Holding Company and Other [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	88	81	174
Provision (credit) for loan losses	0	0	0
Net interest income after provision for loan losses	88	81	174
Noninterest income	(1,180)	(1,529)	(1,620)
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	(707)	(583)	(488)
Occupancy, office furniture and equipment	0	0	0
Advertising	0	0	0
Data processing	16	16	15
Communications	0	0	0
Professional fees	58	17	37
Real estate owned	0	0	0
Loan processing expense	0	0	0
Other	(618)	(946)	(1,040)
Total noninterest expenses	(1,251)	(1,496)	(1,476)
Income before income taxes	159	48	30
Income taxes	39	10	16
Net income	120	38	14
Total Assets	(218,580)	(165,192)	(201,027)
Operating Segments [Member] | Community Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	54,019	54,946	50,608
Provision (credit) for loan losses	(1,050)	(1,150)	(1,300)
Net interest income after provision for loan losses	55,069	56,096	51,908
Noninterest income	5,020	4,299	3,942
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	18,195	18,385	17,495
Occupancy, office furniture and equipment	3,752	3,307	3,127
Advertising	920	749	627
Data processing	2,121	1,671	1,619
Communications	358	425	408
Professional fees	813	967	782
Real estate owned	(176)	1	379
Loan processing expense	0	0	0
Other	2,205	2,715	2,828
Total noninterest expenses	28,188	28,220	27,265
Income before income taxes	31,901	32,175	28,585
Income taxes	7,296	7,273	12,228
Net income	24,605	24,902	16,357
Total Assets	1,955,999	1,913,647	1,834,191
Operating Segments [Member] | Mortgage Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	(1,910)	(850)	(49)
Provision (credit) for loan losses	150	90	134
Net interest income after provision for loan losses	(2,060)	(940)	(183)
Noninterest income	126,910	115,429	122,091
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	84,230	79,982	80,077
Occupancy, office furniture and equipment	6,854	7,548	7,051
Advertising	2,965	3,374	2,706
Data processing	1,493	1,105	805
Communications	1,001	1,186	1,152
Professional fees	2,734	1,343	1,837
Real estate owned	30	0	0
Loan processing expense	3,288	3,372	3,062
Other	6,741	8,522	9,400
Total noninterest expenses	109,336	106,432	106,090
Income before income taxes	15,514	8,057	15,818
Income taxes	4,336	2,243	6,225
Net income	11,178	5,814	9,593
Total Assets	$ 258,928	$ 166,926	$ 173,237

Business Combination (Details)

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

Leases (Details)

Leases (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Location
Leases [Abstract]
Number of branch locations | Location	2
Components of Lease Expense [Abstract]
Operating lease cost	$ 2,988,000
Variable cost	822,000
Short-term lease cost	965,000
Total	4,775,000
Other Information Related to Operating Leases [Abstract]
Operating cash flows from operating leases	3,200
Right-of-use assets	$ 8,400,000
Weighted average remaining lease term - operating leases, in years	3 years 1 month 10 days
Weighted average discount rate - operating leases	5.90%
Operating Lease Liabilities, Payments Due [Abstract]
One year or less	$ 3,222,000
More than one year through two years	2,490,000
More than two years through three years	1,683,000
More than three years through four years	1,259,000
More than four years through five years	515,000
More than five years	983,000
Total lease payments	10,152,000
Present value discount	(1,272,000)
Lease liability	8,880,000
ASC Topic 842 [Member]
Other Information Related to Operating Leases [Abstract]
Right-of-use assets	11,400
Initial recognition of lease liabilities	$ 11,900