Waterstone Financial (WSBF) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 29, 2020
Cover [Abstract]
Entity Registrant Name	Waterstone Financial, Inc.
Entity Central Index Key	0001569994
Current Fiscal Year End Date	--12-31
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 Common Stock, Shares Outstanding		25,161,736
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Entity Address, State or Province	WI
Entity Incorporation, State or Country Code	MD
Entity File Number	001-36271
Entity Tax Identification Number	90-1026709
Entity Address, Address Line One	11200 W. Plank Court
Entity Address, City or Town	Wauwatosa
Entity Address, Postal Zip Code	53226
City Area Code	414
Local Phone Number	761-1000
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	WSBF
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash	$ 54,681	$ 52,814
Federal funds sold	21,151	12,704
Interest-earning deposits in other financial institutions and other short term investments	10,730	8,782
Cash and cash equivalents	86,562	74,300
Securities available for sale (at fair value)	153,201	178,476
Loans held for sale (at fair value)	385,803	220,123
Loans receivable	1,434,132	1,388,031
Less: Allowance for loan losses	18,844	12,387
Loans receivable, net	1,415,288	1,375,644
Office properties and equipment, net	23,961	25,028
Federal Home Loan Bank stock (at cost)	26,720	21,150
Cash surrender value of life insurance	63,255	69,665
Real estate owned, net	772	748
Prepaid expenses and other assets	65,260	31,213
Total assets	2,220,822	1,996,347
Liabilities:
Demand deposits	169,218	130,063
Money market and savings deposits	271,283	197,942
Time deposits	744,150	739,771
Total deposits	1,184,651	1,067,776
Borrowings	552,126	483,562
Advance payments by borrowers for taxes	25,987	4,212
Other liabilities	58,629	47,111
Total liabilities	1,821,393	1,602,661
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	252	271
Additional paid-in capital	182,960	211,997
Retained earnings	229,289	197,393
Unearned ESOP shares	(15,727)	(16,617)
Accumulated other comprehensive loss, net of taxes	2,655	642
Total shareholders' equity	399,429	393,686
Total liabilities and shareholders' equity	$ 2,220,822	$ 1,996,347

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
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)	25,220,036	27,148,411
Common stock - shares outstanding (in shares)	25,220,036	27,148,411

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Loans	$ 18,224	$ 18,558	$ 54,404	$ 53,688
Mortgage-related securities	588	737	1,960	2,260
Debt securities, federal funds sold and short-term investments	732	1,083	2,493	3,515
Total interest income	19,544	20,378	58,857	59,463
Interest expense:
Deposits	3,495	4,479	11,760	12,813
Borrowings	2,640	2,745	7,913	7,579
Total interest expense	6,135	7,224	19,673	20,392
Net interest income	13,409	13,154	39,184	39,071
Provision for loan losses	1,025	(80)	6,310	(730)
Net interest income after provision for loan losses	12,384	13,234	32,874	39,801
Noninterest income:
Service charges on loans and deposits	672	503	3,384	1,272
Increase in cash surrender value of life insurance	714	728	1,587	1,579
Mortgage banking income	72,112	36,062	166,292	93,526
Other	2,265	201	2,868	564
Total noninterest income	75,763	37,494	174,131	96,941
Noninterest expenses:
Compensation, payroll taxes, and other employee benefits	39,405	27,514	100,695	75,227
Occupancy, office furniture and equipment	2,469	2,629	7,744	8,085
Advertising	861	913	2,625	2,834
Data processing	922	1,003	3,023	2,641
Communications	339	358	994	1,039
Professional fees	4,738	954	7,647	2,438
Real estate owned	11	24	55	75
Loan processing expense	1,336	858	3,620	2,542
Other	2,920	1,979	9,495	6,055
Total noninterest expenses	53,001	36,232	135,898	100,936
Income before income taxes	35,146	14,496	71,107	35,806
Income tax expense	8,853	3,572	17,797	8,697
Net income	$ 26,293	$ 10,924	$ 53,310	$ 27,109
Income per share:
Basic (in dollars per share)	$ 1.08	$ 0.42	$ 2.16	$ 1.04
Diluted (in dollars per share)	$ 1.08	$ 0.42	$ 2.15	$ 1.03
Weighted average shares outstanding:
Basic (in shares)	24,297	25,772	24,720	26,168
Diluted (in shares)	24,380	25,962	24,842	26,372

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 26,293	$ 10,924	$ 53,310	$ 27,109
Net unrealized holding (loss) gain on available for sale securities:
Net unrealized holding (loss) gain arising during the period, net of tax benefit (expense) of $2, $239, ($1,125), $1,254, respectively	(104)	(6)	2,013	3,010
Total other comprehensive (loss) income	(104)	(6)	2,013	3,010
Comprehensive income	$ 26,189	$ 10,918	$ 55,323	$ 30,119

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other comprehensive income (loss), net of tax
Net unrealized holding loss on available for sale securities arising during the period, net of tax benefit	$ 41	$ 2	$ (754)	$ (1,125)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - 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, 2018	$ 285	$ 232,406	$ 187,153	$ (17,804)	$ (2,361)	$ 399,679
Balances (in shares) at Dec. 31, 2018	28,463,000
Comprehensive income:
Net income	$ 0	0	27,109	0	0	27,109
Other comprehensive income	0	0	0	0	3,010	3,010
Total comprehensive income						30,119
ESOP shares committed to be released to Plan participants	0	429	0	890	0	1,319
Cash dividend	0	0	(22,582)	0	0	(22,582)
Stock compensation activity, net of tax	$ 0	603	0	0	0	603
Stock compensation activity, net of tax (in shares)	47,000
Stock compensation expense	$ 0	832	0	0	0	832
Purchase of common stock returned to authorized but unissued	$ (14)	(22,713)	0	0	0	(22,727)
Purchase of common stock returned to authorized but unissued (in shares)	(1,363,000)
Balances at Sep. 30, 2019	$ 271	211,557	191,680	(16,914)	649	387,243
Balances (in shares) at Sep. 30, 2019	27,147,000
Balances at Jun. 30, 2019	$ 276	219,262	183,820	(17,210)	655	386,803
Balances (in shares) at Jun. 30, 2019	27,626,000
Comprehensive income:
Net income	$ 0	0	10,924	0	0	10,924
Other comprehensive income	0	0	0	0	(6)	(6)
Total comprehensive income						10,918
ESOP shares committed to be released to Plan participants	0	148	0	296	0	444
Cash dividend	0	0	(3,064)	0	0	(3,064)
Stock compensation activity, net of tax	$ 0	209	0	0	0	209
Stock compensation activity, net of tax (in shares)	16,000
Stock compensation expense	$ 0	234	0	0	0	234
Purchase of common stock returned to authorized but unissued	$ (5)	(8,296)	0	0	0	(8,301)
Purchase of common stock returned to authorized but unissued (in shares)	(495,000)
Balances at Sep. 30, 2019	$ 271	211,557	191,680	(16,914)	649	387,243
Balances (in shares) at Sep. 30, 2019	27,147,000
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
Comprehensive income:
Net income	$ 0	0	53,310	0	0	$ 53,310
Other comprehensive income	0	0	0	0	2,013	2,013
Total comprehensive income						55,323
ESOP shares committed to be released to Plan participants	0	327	0	890	0	1,217
Cash dividend	0	0	(21,414)	0	0	(21,414)
Stock compensation activity, net of tax	$ 3	2,783	0	0	0	2,786
Stock compensation activity, net of tax (in shares)	222,000
Stock compensation expense	$ 0	553	0	0	0	553
Purchase of common stock returned to authorized but unissued	$ (22)	(32,700)	0	0	0	(32,722)
Purchase of common stock returned to authorized but unissued (in shares)	(2,150,000)
Balances at Sep. 30, 2020	$ 252	182,960	229,289	(15,727)	2,655	$ 399,429
Balances (in shares) at Sep. 30, 2020	25,220,000					25,220,036
Balances at Jun. 30, 2020	$ 258	192,762	205,863	(16,023)	2,759	$ 385,619
Balances (in shares) at Jun. 30, 2020	25,843,000
Comprehensive income:
Net income	$ 0	0	26,293	0	0	26,293
Other comprehensive income	0	0	0	0	(104)	(104)
Total comprehensive income						26,189
ESOP shares committed to be released to Plan participants	0	99	0	296	0	395
Cash dividend	0	0	(2,867)	0	0	(2,867)
Stock compensation activity, net of tax	$ 2	2,253	0	0	0	2,255
Stock compensation activity, net of tax (in shares)	177,000
Stock compensation expense	$ 0	164	0	0	0	164
Purchase of common stock returned to authorized but unissued	$ (8)	(12,318)	0	0	0	(12,326)
Purchase of common stock returned to authorized but unissued (in shares)	(800,000)
Balances at Sep. 30, 2020	$ 252	$ 182,960	$ 229,289	$ (15,727)	$ 2,655	$ 399,429
Balances (in shares) at Sep. 30, 2020	25,220,000					25,220,036

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) [Abstract]
Cash dividends (in dollars per share)	$ 0.12	$ 0.12	$ 0.86	$ 0.86

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net income	$ 53,310	$ 27,109
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision (credit) for loan losses	6,310	(730)
Provision for depreciation	1,901	1,829
Deferred taxes	(2,445)	1,303
Stock based compensation	553	832
Net amortization of premium/discount on debt and mortgage related securities	102	164
Amortization of unearned ESOP shares	1,217	1,319
Amortization and impairment of mortgage servicing rights	774	167
Gain on sale of loans held for sale	(171,374)	(96,024)
Loans originated for sale	(3,063,835)	(2,092,948)
Proceeds on sales of loans originated for sale	3,069,529	2,092,816
Gain on death benefit on bank owned life insurance	(1,456)	0
Increase in accrued interest receivable	181	(248)
Increase in cash surrender value of life insurance	(1,587)	(1,579)
(Decrease) increase in accrued interest on deposits and borrowings	(245)	92
Decrease in prepaid tax expense	2,794	1,812
Net gain related to real estate owned	(5)	(20)
Change in other assets and other liabilities	(12,074)	(4,185)
Net cash (used in) provided by operating activities	(116,350)	(68,291)
Investing activities:
Net increase in loans receivable	(46,322)	(7,102)
Net change on FHLB stock	(5,570)	(2,700)
Purchases of:
Mortgage related securities	(4,455)	(12,121)
Debt securities	(5,000)	0
Bank owned life insurance	(180)	(180)
Premises and equipment, net	(917)	(2,247)
Proceeds from:
Principal repayments on mortgage-related securities	33,635	21,920
Maturities of debt securities	3,760	1,835
Sales of real estate owned	353	1,204
Proceeds from death benefit on bank owned life insurance	9,633	0
Net cash (used in) provided by investing activities	(15,063)	609
Financing activities:
Net increase in deposits	116,875	1,074
Net change in short term borrowings	68,564	40,749
Repayment of long term debt	0	(125,000)
Proceeds from long term debt	0	165,000
Cash paid for advance payments by borrowers for taxes	9,870	10,961
Cash dividends on common stock	(21,698)	(22,889)
Purchase of common stock returned to authorized but unissued	(32,722)	(22,727)
Proceeds from stock option exercises	2,786	603
Net cash provided by (used in) financing activities	143,675	47,771
Increase (decrease) in cash and cash equivalents	12,262	(19,911)
Cash and cash equivalents at beginning of period	74,300	86,101
Cash and cash equivalents at end of period	86,562	66,190
Cash paid or credited during the period for:
Income tax payments	17,448	6,709
Interest payments	19,918	20,300
Noncash activities:
Loans receivable transferred to real estate owned	369	946
Dividends declared but not paid in other liabilities	$ 3,217	$ 3,492

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 — Basis of Presentation The unaudited interim consolidated financial statements include the accounts of Waterstone Financial, Inc. (the “Company”) and the Company’s subsidiaries. WaterStone Bank SSB (the "Bank") is a community bank that has served the banking needs of its customers since 1921. WaterStone Bank also has an active mortgage banking subsidiary, Waterstone Mortgage Corporation. WaterStone Bank conducts its community banking business from 13 banking offices located in Milwaukee, Washington and Waukesha Counties, Wisconsin, as well as a loan production office in Minneapolis, Minnesota. WaterStone Bank's principal lending activity is originating one- to four-family, multi-family residential real estate, and commercial real estate loans for retention in its portfolio. WaterStone Bank also offers home equity loans and lines of credit, construction and land loans, commercial business loans, and consumer loans. WaterStone Bank funds its loan production primarily with retail deposits and Federal Home Loan Bank advances. Our deposit offerings include: certificates of deposit, money market savings accounts, transaction deposit accounts, non-interest bearing demand accounts and individual retirement accounts. Our investment securities portfolio is comprised principally of mortgage-backed securities, government-sponsored enterprise bonds and municipal obligations. WaterStone Bank's mortgage banking operations are conducted through its wholly-owned subsidiary, Waterstone Mortgage Corporation. Waterstone Mortgage Corporation originates single-family residential real estate loans for sale into the secondary market. Waterstone Mortgage Corporation utilizes lines of credit provided by WaterStone Bank as a primary source of funds, and also utilizes a line of credit with another financial institution as needed. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information, Rule 10-01 of Regulation S-X and the instructions to Form 10-Q. The financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position, results of operations, changes in shareholders’ equity, and cash flows of the Company for the periods presented. The accompanying unaudited consolidated financial statements and related notes should be read in conjunction with the Company’s December 31, 2019 Annual Report on Form 10-K. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or for any other period. The preparation of the unaudited 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. Actual results could differ from those estimates. Impacts of COVID-19 In March, 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread throughout the United States and around the world. The declaration of a global pandemic indicates that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The outbreak and continuing spread of COVID-19 could adversely impact a broad range of industries in which the Company’s customers operate and impair their ability to fulfill their financial obligations to the Company. On March 3, 2020, the Federal Open Market Committee reduced the target federal funds rate by 50 basis points to 1.00% to 1.25%. This rate was further reduced to a target range of 0% to 0.25% on March 16, 2020. These reductions in interest rates and other effects of the COVID-19 outbreak may adversely affect the Company’s financial condition and results of operations. As a result of the spread of the COVID-19 coronavirus, economic uncertainties have arisen which may negatively impact net interest income and noninterest income. Other financial impacts could occur though such potential impacts are unknown at this time. Subsequent Events The Company has evaluated subsequent events for potential recognition and/or disclosure through the date the unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q were issued. There were no significant subsequent events for the quarter ended through the issuance date of these unaudited consolidated financial statements that warranted adjustment to or disclosure in the unaudited consolidated financial statements . Reclassifications 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. Impact of Recent Accounting Pronouncements ASC Topic 326 "Financial Instruments - Credit Losses." On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law. It included an option for entities to delay the adoption of ASC Topic 326 until the earlier of the termination date of the national emergency declaration by the President or December 31, 2020. Due to the uncertainty on the economy and unemployment from COVID-19, the Company has determined to delay its adoption of ASC Topic 326 and has calculated and recorded its provision for loan losses under the incurred loss model that existed prior to ASC Topic 326. The Company has input the available historical Company data to build an internal model and is reviewing the assumptions to support the calculation under ASC Topic 326. Management’s methodology for estimating the allowance for credit losses under the current expected credit losses (CECL) model 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 on the earlier of the termination date of the national emergency declaration by the President or December 31, 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. As we continue to evaluate the provisions of ASC Topic 326 as of and for the nine months ended September 30, 2020, we are considering the following in developing our forecast and its effect on our CECL calculations: • Duration, extent and severity of COVID-19; • Effect of government assistance; and • Unemployment and effect on economies and markets.

Securities Available for Sale

Securities Available for Sale	9 Months Ended
	Sep. 30, 2020
Securities Available for Sale [Abstract]
Securities Available for Sale	Note 2— Securities Available for Sale The amortized cost and fair values of the Company’s investment in securities available for sale follow: September 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 24,872 $ 1,228 $ - $ 26,100 Collateralized mortgage obligations: Government sponsored enterprise issued 57,424 2,095 - 59,519 Private-label issued 3,595 55 - 3,650 Mortgage-related securities 85,891 3,378 - 89,269 Government sponsered enterprise bonds 2,500 - (1 ) 2,499 Municipal securities 47,970 2,192 - 50,162 Other debt securities 12,500 - (1,229 ) 11,271 Debt securities 62,970 2,192 (1,230 ) 63,932 $ 148,861 $ 5,570 $ (1,230 ) $ 153,201 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 The Company’s mortgage-backed securities and collateralized mortgage obligations issued by government sponsored enterprises are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. At September 30, 2020, $897,000 of the Company’s mortgage related securities were pledged as collateral to secure At , of the Company's mortgage related securities were pledged as collateral to secure The amortized cost and fair values of investment securities by contractual maturity at September 30, 2020 are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (In Thousands) Debt and other securities Due within one year $ 5,512 $ 5,556 Due after one year through five years 36,877 37,925 Due after five years through ten years 20,581 20,451 Due after ten years - - Mortgage-related securities 85,891 89,269 $ 148,861 $ 153,201 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: September 30, 2020 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 $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations: Government sponsored enterprise issued - - - - - - Private label issued - - - - - - Government sponsored enterprise bonds 2,499 (1 ) - - 2,499 (1 ) Municipal securities - - - - - - Other debt securities 2,476 (24 ) 8,795 (1,205 ) 11,271 (1,229 ) $ 4,975 $ (25 ) $ 8,795 $ (1,205 ) $ 13,770 $ (1,230 ) 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 ) 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, the 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 September 30, 2020, the Company held one municipal security that had previously been 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 security to operate as a going concern. During the year ended December 31, 2012, the Company's analysis of this security resulted in $77,000 in credit losses 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. There have been no additional credit losses related to the security. As of September 30, 2020, this security had an amortized cost of $116,000 and total life-to-date impairment of $94,000. As of September 30, 2020, the Company had one corporate debt security which had been in an unrealized loss position for twelve months or longer and this security represents a loss of 12.1% of its aggregate amortized cost. The security was determined not to be other-than-temporarily impaired as of September 30, 2020. The Company has determined that the decline in fair value of the security is primarily attributable to an increase in market interest rates compared to the stated rates on this security and is not attributable to credit deterioration. As the Company does not intend to sell nor is it more likely than not that it will be required to sell the security before recovery of the amortized cost basis, it is not considered other-than-temporarily impaired. The unrealized losses for the corporate debt security with an unrealized loss greater than 12 months is due to the current slope of the yield curve. The security currently earns a floating rate that is indexed to the 10 year Treasury interest rate that is reset on a quarterly basis. Deterioration of general economic market conditions could result in the recognition of future other than temporary impairment losses within the investment portfolio and such amounts could be material to our consolidated financial statements. During the nine months ended September 30, 2020 and September 30, 2019, there were no sales of securities.

Loans Receivable

Loans Receivable	9 Months Ended
	Sep. 30, 2020
Loans Receivable [Abstract]
Loans Receivable	Note 3 - Loans Receivable Loans receivable at September 30, 2020 and December 31, 2019 are summarized as follows: September 30, 2020 December 31, 2019 (In Thousands) Mortgage loans: Residential real estate: One- to four-family $ 452,491 $ 480,280 Multi-family 599,637 584,859 Home equity 15,410 18,071 Construction and land 66,726 37,033 Commercial real estate 241,248 236,703 Consumer 783 832 Commercial loans 57,837 30,253 $ 1,434,132 $ 1,388,031 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 the Company's credit risks are geographically concentrated in the Milwaukee metropolitan area, 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 $1.32 billion and $1.07 billion at September 30, 2020 and December 31, 2019, respectively, were pledged as collateral against $504.0 million and $470.0 million in outstanding Federal Home Loan Bank of Chicago ("FHLB") advances under a blanket security agreement at September 30, 2020 and December 31, 2019. Certain of the Company's executive officers, directors, employees, and their related interests have loans with the Bank. Loans outstanding to such parties were approximately $6.5 million as of September 30, 2020 and $6.3 million as of December 31, 2019. None of these loans were past due or considered impaired as of September 30, 2020 or December 31, 2019. As of September 30, 2020 and December 31, 2019, there were no loans 90 or more days past due and still accruing interest. An analysis of past due loans receivable as of September 30, 2020 and December 31, 2019 follows: As of September 30, 2020 1-59 Days Past Due (1) 60-89 Days Past Due (2) 90 Days or Greater Total Past Due Current (3) Total Loans (In Thousands) Mortgage loans: Residential real estate: One- to four-family $ 1,608 $ - $ 2,647 $ 4,255 $ 448,236 $ 452,491 Multi-family - - 314 314 599,323 599,637 Home equity 50 - 40 90 15,320 15,410 Construction and land - 51 - 51 66,675 66,726 Commercial real estate 699 - 51 750 240,498 241,248 Consumer - - - - 783 783 Commercial loans 95 - - 95 57,742 57,837 Total $ 2,452 $ 51 $ 3,052 $ 5,555 $ 1,428,577 $ 1,434,132 As of December 31, 2019 1-59 Days Past Due (1) 60-89 Days Past Due (2) 90 Days or Greater Total Past Due Current (3) Total Loans (In Thousands) Mortgage loans: 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 (1) (2) (3) A summary of the activity for the nine months ended September 30, 2020 and 2019 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) Nine months ended September 30, 2020 Balance at beginning of period $ 4,907 $ 4,138 $ 201 $ 610 $ 2,145 $ 14 $ 372 $ 12,387 Provision (credit) for loan losses 854 1,703 (6 ) 1,004 2,300 33 422 6,310 Charge-offs (9 ) (5 ) (13 ) - - (10 ) - (37 ) Recoveries 132 17 22 2 11 - - 184 Balance at end of period $ 5,884 $ 5,853 $ 204 $ 1,616 $ 4,456 $ 37 $ 794 $ 18,844 Nine months ended September 30, 2019 Balance at beginning of period $ 5,742 $ 4,153 $ 325 $ 400 $ 2,126 $ 20 $ 483 $ 13,249 Provision (credit) for loan losses (488 ) (19 ) (89 ) 157 (200 ) (1 ) (90 ) (730 ) Charge-offs (69 ) (2 ) (44 ) - (2 ) (5 ) - (122 ) Recoveries 116 13 19 - 2 - - 150 Balance at end of period $ 5,301 $ 4,145 $ 211 $ 557 $ 1,926 $ 14 $ 393 $ 12,547 A summary of the activity for the three months ended September 30, 2020 and 2019 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) Three months ended September 30, 2020 Balance at beginning of period $ 5,715 $ 5,870 $ 218 $ 1,153 $ 4,124 $ 38 $ 616 $ 17,734 Provision (credit) for loan losses 100 (25 ) (18 ) 462 328 - 178 1,025 Charge-offs (2 ) - - - - (1 ) - (3 ) Recoveries 71 8 4 1 4 - - 88 Balance at end of period $ 5,884 $ 5,853 $ 204 $ 1,616 $ 4,456 $ 37 $ 794 $ 18,844 Three months ended September 30, 2019 Balance at beginning of period $ 5,303 $ 4,315 $ 275 $ 412 $ 1,913 $ 12 $ 387 $ 12,617 Provision (credit) for loan losses (39 ) (173 ) (35 ) 145 14 2 6 (80 ) Charge-offs (44 ) (1 ) (36 ) - (2 ) - - (83 ) Recoveries 81 4 7 - 1 - - 93 Balance at end of period $ 5,301 $ 4,145 $ 211 $ 557 $ 1,926 $ 14 $ 393 $ 12,547 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of September 30, 2020 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 $ 24 $ - $ - $ - $ - $ - $ - $ 24 Allowance related to loans collectively evaluated for impairment 5,860 5,853 204 1,616 4,456 37 794 18,820 Balance at end of period $ 5,884 $ 5,853 $ 204 $ 1,616 $ 4,456 $ 37 $ 794 $ 18,844 Loans individually evaluated for impairment $ 8,035 $ 616 $ 75 $ - $ 6,037 $ - $ - $ 14,763 Loans collectively evaluated for impairment 444,456 599,021 15,335 66,726 235,211 783 57,837 1,419,369 Total gross loans $ 452,491 $ 599,637 $ 15,410 $ 66,726 $ 241,248 $ 783 $ 57,837 $ 1,434,132 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of 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 The following table presents information relating to the Company’s internal risk ratings of its loans receivable as of September 30, 2020 and December 31, 2019: One to Four- Family Multi-Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) At September 30, 2020 Substandard $ 8,035 $ 616 $ 261 $ - $ 325 $ - $ 721 $ 9,958 Watch 6,983 - 6 4,330 12,193 - 4,242 27,754 Pass 437,473 599,021 15,143 62,396 228,730 783 52,874 1,396,420 $ 452,491 $ 599,637 $ 15,410 $ 66,726 $ 241,248 $ 783 $ 57,837 $ 1,434,132 At December 31, 2019 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 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 loans that individually, or as part of an overall borrower relationship exceed $1.0 million in potential exposure and review commercial loans that individually, or as part of an overall borrower relationship exceed $200,000 in potential exposure. Loans meeting these criteria are reviewed on an annual basis, or more frequently, if the loan renewal is less than one year. With respect to this review process, management has determined that pass loans include loans that exhibit acceptable financial statements, cash flow and leverage. Watch loans have potential weaknesses that deserve management's attention, and if left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit. Substandard loans are considered inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged. These loans generally have a well-defined weakness that may jeopardize liquidation of the debt and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Finally, a loan is considered to be impaired when it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management has determined that all non-accrual loans and loans modified under troubled debt restructurings meet the definition of an impaired loan. The Company's procedures dictate that an updated valuation must be obtained with respect to underlying collateral at the time a loan is deemed impaired. Updated valuations may also be obtained upon transfer from loans receivable to real estate owned based upon the age of the prior appraisal, changes in market conditions or known changes to the physical condition of the property. Estimated fair values are reduced to account for sales commissions, broker fees, unpaid property taxes and additional selling expenses to arrive at an estimated net realizable value. The adjustment factor is based upon the Company's actual experience with respect to sales of real estate owned over the prior two years. In situations in which we are placing reliance on an appraisal that is more than one year old, an additional adjustment factor is applied to account for downward market pressure since the date of appraisal. The additional adjustment factor is based upon relevant sales data available for our general operating market as well as company-specific historical net realizable values as compared to the most recent appraisal prior to disposition. With respect to multi-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 at September 30, 2020 and December 31, 2019. As of September 30, 2020 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 210 $ 210 $ 24 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - - - Consumer - - - - Commercial - - - - 210 210 24 - Total Impaired with no Reserve One- to four-family 7,825 8,820 - 995 Multi-family 616 1,427 - 811 Home equity 75 75 - - Construction and land - - - - Commercial real estate 6,037 6,037 - - Consumer - - - - Commercial - - - - 14,553 16,359 - 1,806 Total Impaired One- to four-family 8,035 9,030 24 995 Multi-family 616 1,427 - 811 Home equity 75 75 - - Construction and land - - - - Commercial real estate 6,037 6,037 - - Consumer - - - - Commercial - - - - $ 14,763 $ 16,569 $ 24 $ 1,806 As of December 31, 2019 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 217 $ 217 $ 32 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate 7 416 7 409 Consumer - - - - Commercial - - - - 224 633 39 409 Total Impaired with no Reserve One- to four-family 8,508 9,531 - 1,023 Multi-family 667 1,491 - 824 Home equity 84 84 - - Construction and land - - - - Commercial real estate 574 574 - - Consumer - - - - Commercial - - - - 9,833 11,680 - 1,847 Total Impaired One- to four-family 8,725 9,748 32 1,023 Multi-family 667 1,491 - 824 Home equity 84 84 - - Construction and land - - - - Commercial real estate 581 990 7 409 Consumer - - - - Commercial - - - - $ 10,057 $ 12,313 $ 39 $ 2,256 The difference between a loan’s recorded investment and the unpaid principal balance represents a partial charge-off resulting from a confirmed loss when the value of the collateral securing the loan is below the loan balance and management’s assessment that the full collection of the loan balance is not likely. The following tables present data on impaired loans for the nine months ended September 30, 2020 and 2019. Nine months ended September 30, 2020 2019 Average Recorded Investment Interest Paid Average Recorded Investment Interest Paid (In Thousands) Total Impaired with Reserve One- to four-family $ 214 $ 12 $ 265 $ 11 Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - 11 - Consumer - - - - Commercial - - - - 214 12 276 11 Total Impaired with no Reserve One- to four-family 7,986 353 7,779 358 Multi-family 643 61 715 60 Home equity 78 3 129 6 Construction and land - - - - Commercial real estate 6,059 208 660 19 Consumer - - - - Commercial - - - - 14,766 625 9,283 443 Total Impaired One- to four-family 8,200 365 8,044 369 Multi-family 643 61 715 60 Home equity 78 3 129 6 Construction and land - - - - Commercial real estate 6,059 208 671 19 Consumer - - - - Commercial - - - - $ 14,980 $ 637 $ 9,559 $ 454 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 $14.6 million of impaired loans as of September 30, 2020 for which no allowance has been provided, $1.8 million in net charge-offs have been recorded to reduce the unpaid principal balance to an amount that is commensurate with the loans’ 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 which may result in additional provisions to the allowance for loans losses or charge-offs. At September 30, 2020, total impaired loans included $9.6 million of troubled debt restructurings. 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. The vast majority of debt restructurings include a modification of terms to allow for an interest only payment and/or reduction in interest rate. The restructured terms are typically in place for six to twelve months. At December 31, 2019, total impaired loans included $4.0 million of troubled debt restructurings. The following presents data on troubled debt restructurings: As of September 30, 2020 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,736 2 $ 564 4 $ 3,300 6 Multi-family - - 272 2 272 2 Commercial real estate 5,986 2 - - 5,986 2 $ 8,722 4 $ 836 6 $ 9,558 10 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 At September 30, 2020, $9.6 million in loans had been modified in troubled debt restructurings and $836,000 of these loans were included in the non-accrual loan total. The remaining $8.7 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, therefore, 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 for an amount 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, no valuation allowance was recorded as of September 30, 2020 with respect to the $9.6 million in troubled debt restructurings. As of December 31, 2019, a $7,000 valuation allowance had been established with respect to the $4.0 million in troubled debt restructurings. After a troubled debt restructuring reverts to market terms, a minimum of six consecutive contractual payments must be received prior to consideration for a return to accrual status. If an updated credit department review indicates no other evidence of elevated credit risk, the loan is returned to accrual status at that time. The following presents troubled debt restructurings by concession type: As of September 30, 2020 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,535 6 $ - - $ 3,535 6 Interest reduction 311 3 - - 311 3 Principal forbearance 5,712 1 - - 5,712 1 $ 9,558 10 $ - - $ 9,558 10 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 There was one commercial real estate loan modified as troubled debt restructurings with a balance of $5.7 million during the three and nine months ended September 30, 2020. There were no loans modified as troubled debt restructurings during the three and nine months ended September 30, 2019. There were no troubled debt restructurings within the past twelve months for which there was a default during the three or nine months ended September 30, 2020 or September 30, 2019. The provisions of the CARES Act included an election to not apply the guidance on accounting for troubled debt restructurings to loan modifications, such as extensions or deferrals, related to COVID-19 made between March 1, 2020 and the earlier of (i) December 31, 2020 or (ii) 60 days after the end of the COVID-19 national emergency. The relief can only be applied to modifications for borrowers that were not more than 30 days past due as of December 31, 2019. The Company elected to adopt these provisions of the CARES Act. At September 30, 2020, the Company had approximately $ million in outstanding loans subject to interest and principal and principal deferral agreements. The following table presents data on non-accrual loans as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (Dollars in Thousands) Non-accrual loans: Residential real estate: One- to four-family $ 5,299 $ 5,985 Multi-family 616 667 Home equity 75 70 Construction and land - - Commercial real estate 51 303 Commercial - - Consumer - - Total non-accrual loans $ 6,041 $ 7,025 Total non-accrual loans to total loans receivable 0.42 % 0.51 % Total non-accrual loans to total assets 0.27 % 0.35 %

Real Estate Owned

Real Estate Owned	9 Months Ended
	Sep. 30, 2020
Real Estate Owned [Abstract]
Real Estate Owned	Note 4— Real Estate Owned Real estate owned is summarized as follows: September 30, 2020 December 31, 2019 (In Thousands) One- to four-family $ 70 $ 46 Multi-family - - Construction and land 1,256 1,256 Commercial real estate - - Total real estate owned 1,326 1,302 Valuation allowance at end of period (554 ) (554 ) Total real estate owned, net $ 772 $ 748 The following table presents the activity in the Company’s real estate owned: Nine months ended September 30, 2020 2019 (In Thousands) Real estate owned at beginning of the period $ 748 $ 2,152 Transferred from loans receivable 369 946 Sales (net of gains / losses) (345 ) (1,201 ) Write downs - - Other - (10 ) Real estate owned at the end of the period $ 772 $ 1,887 Residential one- to four-family mortgage loans that were in the process of foreclosure were $2.7 million at September 30, 2020 and $2.3 million at December 31, 2019.

Mortgage Servicing Rights

Mortgage Servicing Rights	9 Months Ended
	Sep. 30, 2020
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights	Note 5— Mortgage Servicing Rights The following table presents the activity in the Company’s mortgage servicing rights: Nine months ended September 30, 2020 2019 (In Thousands) Mortgage servicing rights at beginning of the period $ 282 $ 109 Additions 8,936 225 Amortization (754 ) (68 ) Sales - - Mortgage servicing rights at end of the period 8,464 266 Valuation allowance during the period (42 ) (99 ) Mortgage servicing rights at end of the period, net $ 8,422 $ 167 During the nine months ended September 30, 2020, $3.06 billion in residential loans were originated for sale on a consolidated basis. During the same period, sales of loans held for sale totaled $3.07 billion, generating mortgage banking income of $166.3 million. The unpaid principal balance of loans serviced for others was $1.24 billion and $64.9 million at September 30, 2020 and December 31, 2019, respectively. These loans are not reflected in the consolidated statements of financial condition. The fair value of mortgage servicing rights were $9.9 million at September 30, 2020 and $180,000 at September 30, 2019. During the nine months ended September 30, 2020 and September 30, 2019, the Company did not sell any mortgage servicing rights. The following table shows the estimated future amortization expense for mortgage servicing rights for the periods indicated: Estimate for the period ending December 31: (In Thousands) 2020 $ 596 2021 2,609 2022 1,550 2023 1,374 2024 940 Thereafter 1,353 Total $ 8,422

Deposits

Deposits	9 Months Ended
	Sep. 30, 2020
Deposits [Abstract]
Deposits	Note 6— Deposits At September 30, 2020 and December 31, 2019, time deposits with balances greater than $250,000 amounted to $77.3 million and $70.6 million, respectively. A summary of the contractual maturities of time deposits at September 30, 2020 is as follows: (In Thousands) Within one year $ 701,230 More than one to two years 38,658 More than two to three years 2,430 More than three to four years 686 More than four through five years 1,146 $ 744,150

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2020
Borrowings [Abstract]
Borrowings	Note 7— Borrowings Borrowings consist of the following: September 30, 2020 December 31, 2019 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreement $ 48,126 3.25 % $ 13,562 4.66 % Federal Home Loan Bank, Chicago 34,000 0.13 % - - Long term: Federal Home Loan Bank, Chicago advances maturing: 2027 50,000 1.73 % 50,000 1.73 % 2028 255,000 2.37 % 255,000 2.37 % 2029 165,000 1.61 % 165,000 1.61 % $ 552,126 2.02 % $ 483,562 2.11 % The short-term repurchase agreement represents the outstanding portion of a total $55.0 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 $48.1 million balance at September 30, 2020 and a $13.6 million balance at December 31, 2019. The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. In addition, the Company enters into agreements under which it sells loans held for sale subject to an obligation to repurchase the same loans. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of assets. The obligation to repurchase the assets is reflected as a liability in the Company's consolidated statements of financial condition, while the securities and loans held for sale underlying the repurchase agreements remain in the respective investment securities and loans held for sale asset accounts. In other words, there is no offsetting or netting of the investment securities or loans held for sale assets with the repurchase agreement liabilities. The Company's repurchase agreement is 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 $34.0 million short-term advances consists of one $30.0 million advance with a fixed rate of 0.15% and a maturity date of October 22, 2020 and one $4.0 million advance with a fixed rate of 0.00% and a maturity date of May 1, 2021. The $50.0 million advance due in 2027 The $255.0 million in advances due in 2028 The $165.0 million in advances due in 2029 The Company selects loans that meet underwriting criteria established by the FHLB as collateral for outstanding advances. The Company’s borrowings from the FHLB are limited to 80% of the carrying value of unencumbered one- to four-family mortgage loans, 75% of the carrying value of multi-family loans and 64% of the carrying value of home equity loans. In addition, these advances were collateralized by FHLB stock of $26.7 million at September 30, 2020 and $21.2 million at December 31, 2019. In the event of prepayment, the Company is obligated to pay all remaining contractual interest on the advance.

Regulatory Capital

Regulatory Capital	9 Months Ended
	Sep. 30, 2020
Regulatory Capital [Abstract]
Regulatory Capital	Note 8 – 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 statements. 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. As required by applicable legislation, the federal banking agencies were required to develop a “Community Bank Leverage Ratio” (the ratio of a bank’s tangible equity capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A “qualifying community bank” that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered “well capitalized” under Prompt Corrective Action statutes. The federal banking agencies may consider a financial institution’s risk profile when evaluating whether it qualifies as a community bank for purposes of the capital ratio requirement. The federal banking agencies must set the minimum capital for the new Community Bank Leverage Ratio at not less than 8% and not more than 10%. Beginning in the second quarter 2020 and until the end of the year, a banking organization that has a leverage ratio of 8% or greater and meets certain other criteria may elect to use the Community Bank Leverage Ratio framework; and qualified community banks will have until January 1, 2022, before the Community Bank Leverage Ratio requirement is re-established at greater than 9%. Pursuant to Section 4012 of the CARES Act and related interim final rules, the Community Bank Leverage Ratio will be 8% beginning in the second quarter and for the remainder of calendar year 2020, 8.5% for calendar year 2021, and 9% thereafter. A financial institution can elect to be subject to this new definition, and opt-out of this new definition, at any time. As a qualified community bank, we elected to opt-out of this definition during the second quarter of 2020. Prompt corrective action regulations provide five classifications: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If only adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. The minimum capital ratios set forth in the Regulatory Capital Plans will be increased and other minimum capital requirements will be established if and as necessary. In accordance with the Regulatory Capital Plans, the Bank will not pursue any acquisition or growth opportunity, declare any dividend or conduct any stock repurchase that would cause the Bank's total risk-based capital ratio and/or its Tier 1 leverage ratio to fall below the established minimum capital levels or the capital levels required for capital adequacy plus the captial conservation buffer. The minimum captial conservation buffer is 2.5%. As of September 30, 2020, the Bank was well-capitalized, with all capital ratios exceeding the well-capitalized requirement. There are no conditions or events that management believes have changed the Bank’s prompt corrective action capitalization category. The Bank is subject to regulatory restrictions on the amount of dividends it may declare and pay to the Company without prior regulatory approval, and to regulatory notification requirements for dividends that do not require prior regulatory approval. The actual and required capital amounts and ratios for the Bank as of September 30, 2020 and December 31, 2019 are presented in the table below: September 30, 2020 Actual For Capital Adequacy Purposes Minimum Capital Adequacy with Capital Buffer To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) Total Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. $ 414,966 23.82 % $ 139,342 8.00 % $ 182,886 10.50 % $ N/A N/A WaterStone Bank 388,156 22.29 % 139,342 8.00 % 182,886 10.50 % 174,177 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 396,122 22.74 % 104,506 6.00 % 148,051 8.50 % N/A N/A WaterStone Bank 369,312 21.20 % 104,506 6.00 % 148,051 8.50 % 139,342 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 396,122 22.74 % 78,380 4.50 % 121,924 7.00 % N/A N/A WaterStone Bank 369,312 21.20 % 78,380 4.50 % 121,924 7.00 % 113,215 6.50 % Tier 1 Capital (to average assets) Consolidated Waterstone Financial, Inc. 396,122 18.09 % 87,571 4.00 % N/A N/A N/A N/A WaterStone Bank 369,312 16.87 % 87,571 4.00 % N/A N/A 109,464 5.00 % State of Wisconsin (to total assets) WaterStone Bank 369,312 16.64 % 133,135 6.00 % N/A N/A N/A N/A 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 10.50 % $ N/A N/A WaterStone Bank 353,357 22.85 % 123,716 8.00 % 162,378 10.50 % 154,646 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 392,361 25.37 % 92,799 6.00 % 131,465 8.50 % N/A N/A WaterStone Bank 340,970 22.05 % 92,787 6.00 % 131,449 8.50 % 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 7.00 % N/A N/A WaterStone Bank 340,970 22.05 % 69,590 4.50 % 108,252 7.00 % 100,520 6.50 % Tier 1 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

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Taxes [Abstract]
Income Taxes	Note 9 – Income Taxes Income tax expense totaled $17.8 million for the nine months ended September 30, 2020 compared to $8.7 million during the nine months ended September 30, 2019. Income tax expense was recognized on the statement of income during the nine months ended September 30, 2020 at an effective rate of 25.0% of pretax income compared to 24.3% during the nine months ended September 30, 2019. During the nine months ended September 30, 2020, the Company recognized a benefit of approximately $82,000 related to stock awards exercised compared to a benefit of $113,000 recognized during the nine months ended September 30, 2019. The Company recognized a benefit of $354,000 related to the proceeds received on the bank owned life insurance death benefit during the nine months ended September 30, 2020.

Commitments, Off-Balance Sheet

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	9 Months Ended
	Sep. 30, 2020
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities [Abstract]
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	Note 10– 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 statements of financial condition. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. September 30, 2020 December 31, 2019 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under amortizing loans (1) $ 18,290 $ 13,389 Commitments to extend credit under home equity lines of credit (2) 13,742 13,776 Unused portion of construction loans (3) 77,017 90,439 Unused portion of business lines of credit 19,558 14,623 Standby letters of credit 1,296 885 (1) (2) (3) 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. 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 September 30, 2020 and December 31, 2019. 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 these representations and warranties. The Company’s agreements to sell residential mortgage loans also contain limited recourse provisions. The recourse provisions are limited in that the recourse provision ends after certain payment criteria have been met. With respect to these loans, repurchase could be required if defined delinquency issues arose during the limited recourse period. Given that the underlying loans delivered to buyers are predominantly conventional first lien mortgages, historical experience has resulted in insignificant losses and repurchase activity. The Company's reserve for losses related to these recourse provisions totaled $3.2 million and $921,000 as of September 30, 2020 and December 31, 2019, respectively. In the normal course of business, the Company, or its 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 $7.3 milllion in damages to Claimants, $3.3 million in attorney fees and costs, and a $20,000 incentive fee to Plaintiff Herrington. Subsequently, the Seventh Circuit Court of Appeals issued a ruling in October 2018 vacating the District Court’s order enforcing the arbitration award, 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. The arbitrator issued a written award on February 18, 2020 in which he found Waterstone liable for damages, based on an assumed workweek of 50 hours and $100 in unreimbursed expenses per workweek, awarding Herrington $14,952 in damages on her claims. Herrington has since sought $4.9 million in fees and costs on her award, which includes fees dating back to 2011 and the vacated proceeding. On May 6, 2020, the arbitrator issued an award that would allow Herrington to recover $1.1 million in attorney fees and costs. Herrington has moved to confirm the award and Waterstone has subsequently moved to vacate the award in court. If the award is confirmed, Waterstone retains its appellate rights to challenge the award before the Seventh Circuit. Waterstone believes that it has meaningful avenues to vacate the award. However, given the details of these recent developments, Waterstone does believe that it has met the criteria with respect to recognizing a loss contingency under GAAP. As such, the Company recorded a loss reserve with respect to this matter for approximately $1.1 million during the three months ended March 31, 2020. Various Claimants v. Waterstone Mortgage Corporation Subsequent to the aforementioned decision by the United States District Court for the Western District of Wisconsin, which ruled that claims brought forth under the Herrington class action lawsuit must be resolved through single-plaintiff arbitration, 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”). Currently, the total amount of arbitrations is approximately 100, as some other individuals who filed in court have been compelled to arbitration. Waterstone has answered the arbitration demands and denies the allegations, and Waterstone will continue to vigorously defend its interests in these matters. The first hearings are scheduled for the latter half of 2020. 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 these matters. However, an unfavorable outcome is reasonably possible with respect to these individual matters and Waterstone would not characterize the chance of any loss as “remote.” Given the early stage of the individual proceedings, Waterstone cannot yet offer an opinion on the estimated range of any possible loss, in the event of an unfavorable opinion in any of the proceedings. Raleen Johnson v. Watestone Subsequent to the aforementioned decision by the United States District Court for the Western District of Wisconsin vacating the prior collective award, on May 3, 2019, Raeleen Johnson and approximately 35 other Loan Originators who were prior Claimants in the Herrington Arbitration also filed a claim in the Eastern District of Wisconsin, in the United States District Court for the Eastern District of Wisconsin, Johnson et al. v. Waterstone Mortgage Corporation. The Johnson action claims that Waterstone Mortgage Corporation violated the FLSA by failing to pay loan officers minimum and overtime wages. They also allege Waterstone breached its contractual agreement regarding their compensation. The Johnson action was plead as a class and collective action, brought on behalf of Johnson and other Waterstone loan originators. The Court issued a scheduling order in March 2020, setting a discovery cutoff in December 2020 and deadline to file dispositive motions in January 2021. However, Johnson did not move for certification of her claims, and in August 2020, the Court issued an order finding that since no motion for certification had been filed, the case would not proceed as a class action. Tentative Resolution of Claims In September 2020, the parties reached a tentative agreement to resolve all of the above claims, including the Herrington individual arbitration and resulting $1.1 million award, the Arbitrations, and the Raeleen Johnson action. The proposed settlement payment is $4.25 million in total, which would fully resolve all of the alleged claims and all attorney fees and costs. The proposed settlement is contingent on it being approved by the individual claimants in the above actions. If the claimants do not approve the terms of the settlement, Waterstone may void the agreement. As a result of the tentative agreement, the parties have agreed to stay all activity in the pending actions pending completion of the settlement, including the arbitrations set in 2020. The Johnson court issued an order vacating all pretrial dates, and the Herrington court issued an order postponing entry of judgment given the tentative agreement. Given the tentative proposed agreement, Waterstone does believe that it has met the criteria with respect to recognizing a loss contingency under GAAP. As such, the Company recorded a loss reserve with respect to this matter for approximately $4.25 million as of September 30, 2020. As the $1.1 million award related to Herrington was previously recognized during the three months ended March 31, 2020, the impact on the statement of operations during the three months ended September 30, 2020 amounted to charge to earnings of approximately $3.2 million.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2020
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	Note 11 – Derivative Financial Instruments Mortgage Banking Derviatives 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 to third party investors. 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 hedge relationships. 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 as a component of mortgage banking income in the Company’s consolidated statements of operations. 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 September 30, 2020, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of approximately $896.8 million and interest rate lock commitments with an aggregate notional amount of approximately $636.6 million. The fair value of the forward commitments to sell mortgage loans at September 30, 2020 included a loss of $445,000 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 September 30, 2020 included a gain of $12.6 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. 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. In determining the fair value of its derivative loan commitments, the Company considers the value that would be generated by the loan arising from exercise of the loan commitment when 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. The significant unobservable input used in the fair value measurement of the Company's mortgage banking derivatives, including interest rate lock commitments, is the loan pull through rate. This represents the percentage of loans currently in a lock position which the Company estimates will ultimately close. Generally, the fair value of an interest rate lock commitment will be positively (negatively) impacted when the prevailing interest rate is lower (higher) than the interest rate lock commitment. Generally, an increase in the pull through rate will result in the fair value of the interest rate lock increasing when in a gain position, or decreasing when in a loss position. The pull through rate is largely dependent on the loan processing stage that a loan is currently in and the change in prevailing interest rates from the time of the rate lock. The pull through rate is computed using historical data and the ratio is periodically reviewed by the Company. Interest Rate Swaps 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 through back-to-back swaps. 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. The aggregate amortizing notional value of back-to-back swaps with various commercial borrowers was $108.0 million at September 30, 2020 and $30.9 million at December 31, 2019. The Company receives fixed rates and pays floating rates based upon LIBOR on the swaps with commercial borrowers. These swaps mature in December 2029 to June 2037. 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 $5.8 million as of September 30, 2020 and $680,000 as of December 31, 2019. As of September 30, 2020 and December 31, 2019, no back-to-back swaps were in default. The aggregate amortizing notional value of back-to-back swaps with dealer counterparties was $108.0 million as of September 30, 2020 and $30.9 million as of December 31, 2019. The Company pays fixed rates and receives floating rates based upon LIBOR on the swaps with dealer counterparties. These swaps maturity dates range from December 2029 to June 2037. 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 $5.8 million as of September 30, 2020 and $680,000 as of December 31, 2019. No right of offset existed with dealer counterparty swaps as of September 30, 2020 and December 31, 2019. All changes in the fair value of these instruments are recorded in other non-interest income. The Company pledged $7.8 million in mortgage backed securities to secure its obligation under these contracts at September 30, 2020 and $710,000 in cash at December 31, 2019.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 12 – 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. There were and antidilutive shares of common stock for the and , respectively. Presented below are the calculations for basic and diluted earnings per share: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (In Thousands, except per share amounts) Net income $ 26,293 $ 10,924 $ 53,310 $ 27,109 Weighted average shares outstanding 24,297 25,772 24,720 26,168 Effect of dilutive potential common shares 83 190 122 204 Diluted weighted average shares outstanding 24,380 25,962 24,842 26,372 Basic earnings per share $ 1.08 $ 0.42 $ 2.16 $ 1.04 Diluted earnings per share $ 1.08 $ 0.42 $ 2.15 $ 1.03

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Values Measurements [Abstract]
Fair Values Measurements	Note 13 – 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 recorded in our consolidated statements of financial condition at their fair value on a recurring basis as of September 30, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using September 30, 2020 Level 1 Level 2 Level 3 (In Thousands) Assets Available-for-sale securities Mortgage-backed securities $ 26,100 $ - $ 26,100 $ - Collateralized mortgage obligations Government sponsored enterprise issued 59,519 - 59,519 - Private-label issued 3,650 - 3,650 - Government sponsored enterprise bonds 2,499 - 2,499 - Municipal securities 50,162 - 50,162 - Other debt securities 11,271 - 11,271 - Loans held for sale 385,803 - 385,803 - Mortgage banking derivative assets 12,600 - - 12,600 Interest rate swap assets 5,794 - 5,794 - Liabilities Mortgage banking derivative liabilities 445 - - 445 Interest rate swap liabilities 5,794 - 5,794 - 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 - The following summarizes the valuation techniques for assets recorded in our consolidated statements of financial condition at their fair value on a recurring basis: Available-for-sale securities – The Company’s investment securities classified as available for sale include: mortgage-backed securities, collateralized mortgage obligations, government sponsored enterprise bonds, municipal securities and other debt securities. The fair value of mortgage-backed securities, collateralized mortgage obligations and government sponsored enterprise bonds are determined by a third party valuation source using observable market data utilizing a matrix or multi-dimensional relational pricing model. Standard inputs to these models include observable market data such as benchmark yields, reported trades, broker quotes, issuer spreads, benchmark securities, prepayment models and bid/offer market data. For securities with an early redemption feature, an option adjusted spread model is utilized to adjust the issuer spread. These model and matrix measurements are classified as Level 2 in the fair value hierarchy. The fair value of municipal and other debt securities is determined by a third party valuation source using observable market data utilizing a multi-dimensional relational pricing model. Standard inputs to this model include observable market data such as benchmark yields, reported trades, broker quotes, rating updates and issuer spreads. These model measurements are classified as Level 2 in the fair value hierarchy. The change in fair value is recorded through an adjustment to the statement of comprehensive income. Loans held for sale – The Company carries loans held for sale at fair value under the fair value option model. Fair value is generally determined by estimating a gross premium or discount, which is derived from pricing currently observable in the secondary market, principally from observable prices for forward sale commitments. Loans held-for-sale are considered to be Level 2 in the fair value hierarchy of valuation techniques. The change in fair value is recorded through an adjustment to the statement of income. Mortgage banking derivatives - Mortgage banking derivatives include interest rate lock commitments to originate residential loans held for sale to individual customers and forward commitments to sell residential mortgage loans to various investors. The Company utilizes a valuation model to estimate the fair value of its interest rate lock commitments to originate residential mortgage loans held for sale, which includes applying a pull through rate based upon historical experience and the current interest rate environment and then multiplying by quoted investor prices. The Company also utilizes a valuation model to estimate the fair value of its forward commitments to sell residential loans, which includes matching specific terms and maturities of the forward commitments against applicable investor pricing available. While there are Level 2 and 3 inputs used in the valuation models, the Company has determined that one or more of the inputs significant in the valuation of both of the mortgage banking derivatives fall within Level 3 of the fair value hierarchy. The change in fair value is recorded through an adjustment to the statement of income. 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 2020 and 2019. Nine months ended September 30, 2020 2019 (In Thousands) Mortgage derivative, net balance at the beginning of the period $ 1,835 $ 898 Mortgage derivative gain, net 10,320 2,345 Mortgage derivative, net balance at the end of the period $ 12,155 $ 3,243 T here were no transfers in or out of Level 1, 2 or 3 measurements during the periods. Assets Recorded at Fair Value on a Non-recurring Basis The following tables present information about our assets recorded in our consolidated statements of financial condition at their fair value on a non-recurring basis as of September 30, 2020 and December 31, 2019, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using September 30, 2020 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 186 $ - $ - $ 186 Real estate owned 772 - - 772 Impaired mortgage servicing rights 235 - - 235 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 (1) Represents collateral-dependent impaired loans, net, which are included in loans. 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 September 30, 2020, loans determined to be impaired with an outstanding balance of $210,000 were carried net of specific reserves of $24,000 for a fair value of $186,000. 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. 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 writedowns during the nine months ended September 30, 2020 and 2019, respectively. At September 30, 2020 and December 31, 2019, real estate owned totaled $772,000 and $748,000, 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. At and , there were $ and $ , respectively, of impairment on mortgage servicing rights. For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Significant Unobservable Input Value Fair Value at September 30, 2020 Valuation Technique Significant Unobservable Inputs Minimum Value Maximum Value Weighted Average Mortgage banking derivatives, net $ 12,155 Pricing models Pull through rate 12.0 % 95.0 % 86.0 % Impaired loans 186 Market approach Discount rates applied to appraisals 15.0 % 15.0 % 15.0 % Real estate owned 772 Market approach Discount rates applied to appraisals 13.0 % 59.0 % 48.0 % Mortgage servicing rights 235 Pricing models Prepayment rate 7.9 % 36.4 % 15.2 % Discount rate 9.5 % 14.3 % 10.0 % Cost to service $ 76.46 $ 164.13 $ 83.17 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: September 30, 2020 December 31, 2019 Carrying amount Fair Value Carrying amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (In Thousands) Financial Assets Cash and cash equivalents $ 86,562 $ 86,562 $ 86,562 $ - $ - $ 74,300 $ 74,300 $ 65,800 $ 8,500 $ - Securities available-for-sale 153,201 153,201 - 153,201 - 178,476 178,476 - 178,476 - Loans held for sale 385,803 385,803 - 385,803 - 220,123 220,123 - 220,123 - Loans receivable 1,434,132 1,448,660 - - 1,448,660 1,388,031 1,426,224 - - 1,426,224 FHLB stock 26,720 26,720 - 26,720 - 21,150 21,150 - 21,150 - Accrued interest receivable 5,163 5,163 5,163 - - 5,344 5,344 5,344 - - Mortgage servicing rights 8,422 9,926 - - 9,926 282 282 - - 282 Mortgage banking derivative assets 12,600 12,600 - - 12,600 1,835 1,835 - - 1,835 Interest rate swap asset 5,794 5,794 - 5,794 - 680 680 - 680 - Financial Liabilities Deposits 1,184,651 1,185,424 440,501 744,923 - 1,067,776 1,070,083 328,005 742,078 - Advance payments by borrowers for taxes 25,987 25,987 25,987 - - 4,212 4,212 4,212 - - Borrowings 552,126 572,521 - 572,521 - 483,562 483,846 - 483,846 - Accrued interest payable 1,314 1,314 1,314 - - 1,559 1,559 1,559 - - Mortgage banking derivative liabilities 445 445 - - 445 - - - - - Interest rate swap liability 5,794 5,794 - 5,794 - 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. Securities The fair value of securities is generally 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 September 30, 2020 and December 31, 2019. 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 financial 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.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Note 14 – 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 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 on the secondary market. Mortgage banking products and services are provided by offices in 48 states with the ability to lend in 48 states. Presented below is the segment information: As of or for the three months ended September 30, 2020 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 13,461 $ (58 ) $ 6 $ 13,409 Provision for loan losses 1,000 25 - 1,025 Net interest income (expense) after provision for loan losses 12,461 (83 ) 6 12,384 Noninterest income 3,104 73,143 (484 ) 75,763 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 5,000 34,559 (154 ) 39,405 Occupancy, office furniture and equipment 874 1,595 - 2,469 Advertising 252 609 - 861 Data processing 490 426 6 922 Communications 113 226 - 339 Professional fees 266 4,465 7 4,738 Real estate owned 11 - - 11 Loan processing expense - 1,336 - 1,336 Other 818 2,444 (342 ) 2,920 Total noninterest expenses 7,824 45,660 (483 ) 53,001 Income before income taxes 7,741 27,400 5 35,146 Income tax expense 1,565 7,284 4 8,853 Net income $ 6,176 $ 20,116 $ 1 $ 26,293 Total assets $ 2,118,968 $ 458,526 $ (356,672 ) $ 2,220,822 As of or for the three months ended September 30, 2019 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 13,885 $ (774 ) $ 43 $ 13,154 Provision for loan losses (150 ) 70 - (80 ) Net interest income (expense) after provision for loan losses 14,035 (844 ) 43 13,234 Noninterest income 1,415 36,535 (456 ) 37,494 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 4,075 23,616 (177 ) 27,514 Occupancy, office furniture and equipment 942 1,687 - 2,629 Advertising 202 711 - 913 Data processing 588 411 4 1,003 Communications 90 268 - 358 Professional fees 223 688 43 954 Real estate owned 24 - - 24 Loan processing expense - 858 - 858 Other 583 1,725 (329 ) 1,979 Total noninterest expenses 6,727 29,964 (459 ) 36,232 Income before income taxes 8,723 5,727 46 14,496 Income tax expense 1,982 1,584 6 3,572 Net income $ 6,741 $ 4,143 $ 40 $ 10,924 Total assets $ 1,969,835 $ 301,565 $ (265,971 ) $ 2,005,429 As of or for the nine months ended September 30, 2020 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 40,070 $ (948 ) $ 62 $ 39,184 Provision for loan losses 6,075 235 - 6,310 Net interest income (expense) after provision for loan losses 33,995 (1,183 ) 62 32,874 Noninterest income 7,068 168,159 (1,096 ) 174,131 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 15,074 86,085 (464 ) 100,695 Occupancy, office furniture and equipment 2,754 4,990 - 7,744 Advertising 797 1,828 - 2,625 Data processing 1,773 1,234 16 3,023 Communications 301 693 - 994 Professional fees 690 6,935 22 7,647 Real estate owned 55 - - 55 Loan processing expense - 3,620 - 3,620 Other 1,930 8,235 (670 ) 9,495 Total noninterest expenses 23,374 113,620 (1,096 ) 135,898 Income before income taxes 17,689 53,356 62 71,107 Income tax expense 3,293 14,492 12 17,797 Net income $ 14,396 $ 38,864 $ 50 $ 53,310 As of or for the nine months ended September 30, 2019 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 40,547 $ (1,511 ) $ 35 $ 39,071 Provision (credit) for loan losses (850 ) 120 - (730 ) Net interest income (expense) after provision for loan losses 41,397 (1,631 ) 35 39,801 Noninterest income 3,375 94,470 (904 ) 96,941 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 13,502 62,255 (530 ) 75,227 Occupancy, office furniture and equipment 2,858 5,227 - 8,085 Advertising 603 2,231 - 2,834 Data processing 1,538 1,091 12 2,641 Communications 265 774 - 1,039 Professional fees 651 1,734 53 2,438 Real estate owned 75 - - 75 Loan processing expense - 2,542 - 2,542 Other 1,707 4,823 (475 ) 6,055 Total noninterest expenses 21,199 80,677 (940 ) 100,936 Income before income taxes 23,573 12,162 71 35,806 Income tax expense 5,263 3,415 19 8,697 Net income $ 18,310 $ 8,747 $ 52 $ 27,109

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Note 15 – 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 three or nine months ended September 30, 2020 and December 31, 2020. At September 30, 2020, the Company had lease liabilities totaling $7.0 million and right-of-use assets totaling $6.5 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 three and nine months ended September 30, 2020 and September 30, 2019: Three months ended September 30, 2020 Three months ended September 30, 2019 Nine months ended September 30, 2020 Nine months ended September 30, 2019 (In Thousands) Operating lease cost $ 786 $ 809 $ 2,380 $ 2,371 Variable cost 134 111 374 527 Short-term lease cost 184 230 563 757 Total $ 1,104 $ 1,150 $ 3,317 $ 3,655 At September 30, 2020, the Company had leases that had not yet commenced, but will create approximately $578,000 of additional lease liabilities and right-of-use assets for the Company in the fourth quarter of 2020. The table below summarizes other information related to our operating leases: Nine months ended September 30, 2020 (Dollars in Thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,689 Initial recognition of right of use asset 474 Initial recognition of lease liabilities 474 Weighted average remaining lease term - operating leases, in years 2.7 Weighted average discount rate - operating leases 5.3 % As of September 30, 2020, lease liability information for the Company is summarized in the following table. Maturity analysis Operating leases (In Thousands) One year or less $ 2,930 More than one year through two years 1,988 More than two years through three years 1,511 More than three years through four years 715 More than four years through five years 92 More than five years 918 Total lease payments 8,154 Present value discount (1,182 ) Lease liability $ 6,972

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2020
Basis of Presentation [Abstract]
Basis of presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information, Rule 10-01 of Regulation S-X and the instructions to Form 10-Q. The financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position, results of operations, changes in shareholders’ equity, and cash flows of the Company for the periods presented.
Use of estimates	The preparation of the unaudited 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. Actual results could differ from those estimates.
Impacts of COVID-19	Impacts of COVID-19 In March, 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread throughout the United States and around the world. The declaration of a global pandemic indicates that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The outbreak and continuing spread of COVID-19 could adversely impact a broad range of industries in which the Company’s customers operate and impair their ability to fulfill their financial obligations to the Company. On March 3, 2020, the Federal Open Market Committee reduced the target federal funds rate by 50 basis points to 1.00% to 1.25%. This rate was further reduced to a target range of 0% to 0.25% on March 16, 2020. These reductions in interest rates and other effects of the COVID-19 outbreak may adversely affect the Company’s financial condition and results of operations. As a result of the spread of the COVID-19 coronavirus, economic uncertainties have arisen which may negatively impact net interest income and noninterest income. Other financial impacts could occur though such potential impacts are unknown at this time.
Subsequent Events	Subsequent Events The Company has evaluated subsequent events for potential recognition and/or disclosure through the date the unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q were issued. There were no significant subsequent events for the quarter ended through the issuance date of these unaudited consolidated financial statements that warranted adjustment to or disclosure in the unaudited consolidated financial statements .
Reclassifications	Reclassifications 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.
Impact of Recent Accounting Pronouncements	Impact of Recent Accounting Pronouncements ASC Topic 326 "Financial Instruments - Credit Losses." On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law. It included an option for entities to delay the adoption of ASC Topic 326 until the earlier of the termination date of the national emergency declaration by the President or December 31, 2020. Due to the uncertainty on the economy and unemployment from COVID-19, the Company has determined to delay its adoption of ASC Topic 326 and has calculated and recorded its provision for loan losses under the incurred loss model that existed prior to ASC Topic 326. The Company has input the available historical Company data to build an internal model and is reviewing the assumptions to support the calculation under ASC Topic 326. Management’s methodology for estimating the allowance for credit losses under the current expected credit losses (CECL) model 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 on the earlier of the termination date of the national emergency declaration by the President or December 31, 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. As we continue to evaluate the provisions of ASC Topic 326 as of and for the nine months ended September 30, 2020, we are considering the following in developing our forecast and its effect on our CECL calculations: • Duration, extent and severity of COVID-19; • Effect of government assistance; and • Unemployment and effect on economies and markets.

Securities Available for Sale (

Securities Available for Sale (Policies)	9 Months Ended
	Sep. 30, 2020
Securities Available for Sale [Abstract]
Impairment of investment securities	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, the 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.

Derivative Financial Instrume_2

Derivative Financial Instruments (Policies)	9 Months Ended
	Sep. 30, 2020
Derivative Financial Instruments [Abstract]
Derivative financial instruments	Mortgage Banking Derviatives 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 to third party investors. 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 hedge relationships. 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 as a component of mortgage banking income in the Company’s consolidated statements of operations. 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 September 30, 2020, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of approximately $896.8 million and interest rate lock commitments with an aggregate notional amount of approximately $636.6 million. The fair value of the forward commitments to sell mortgage loans at September 30, 2020 included a loss of $445,000 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 September 30, 2020 included a gain of $12.6 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. 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. In determining the fair value of its derivative loan commitments, the Company considers the value that would be generated by the loan arising from exercise of the loan commitment when 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. The significant unobservable input used in the fair value measurement of the Company's mortgage banking derivatives, including interest rate lock commitments, is the loan pull through rate. This represents the percentage of loans currently in a lock position which the Company estimates will ultimately close. Generally, the fair value of an interest rate lock commitment will be positively (negatively) impacted when the prevailing interest rate is lower (higher) than the interest rate lock commitment. Generally, an increase in the pull through rate will result in the fair value of the interest rate lock increasing when in a gain position, or decreasing when in a loss position. The pull through rate is largely dependent on the loan processing stage that a loan is currently in and the change in prevailing interest rates from the time of the rate lock. The pull through rate is computed using historical data and the ratio is periodically reviewed by the Company. Interest Rate Swaps 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 through back-to-back swaps. 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. The aggregate amortizing notional value of back-to-back swaps with various commercial borrowers was $108.0 million at September 30, 2020 and $30.9 million at December 31, 2019. The Company receives fixed rates and pays floating rates based upon LIBOR on the swaps with commercial borrowers. These swaps mature in December 2029 to June 2037. 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 $5.8 million as of September 30, 2020 and $680,000 as of December 31, 2019. As of September 30, 2020 and December 31, 2019, no back-to-back swaps were in default. The aggregate amortizing notional value of back-to-back swaps with dealer counterparties was $108.0 million as of September 30, 2020 and $30.9 million as of December 31, 2019. The Company pays fixed rates and receives floating rates based upon LIBOR on the swaps with dealer counterparties. These swaps maturity dates range from December 2029 to June 2037. 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 $5.8 million as of September 30, 2020 and $680,000 as of December 31, 2019. No right of offset existed with dealer counterparty swaps as of September 30, 2020 and December 31, 2019. All changes in the fair value of these instruments are recorded in other non-interest income. The Company pledged $7.8 million in mortgage backed securities to secure its obligation under these contracts at September 30, 2020 and $710,000 in cash at December 31, 2019.

Securities Available for Sale_2

Securities Available for Sale (Tables)	9 Months Ended
	Sep. 30, 2020
Securities Available for Sale [Abstract]
Amortized Cost and Fair Values of Investment in Securities Available for Sale	The amortized cost and fair values of the Company’s investment in securities available for sale follow: September 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 24,872 $ 1,228 $ - $ 26,100 Collateralized mortgage obligations: Government sponsored enterprise issued 57,424 2,095 - 59,519 Private-label issued 3,595 55 - 3,650 Mortgage-related securities 85,891 3,378 - 89,269 Government sponsered enterprise bonds 2,500 - (1 ) 2,499 Municipal securities 47,970 2,192 - 50,162 Other debt securities 12,500 - (1,229 ) 11,271 Debt securities 62,970 2,192 (1,230 ) 63,932 $ 148,861 $ 5,570 $ (1,230 ) $ 153,201 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
Amortized Cost and Fair Values of Investment Securities by Contractual Maturity	The amortized cost and fair values of investment securities by contractual maturity at September 30, 2020 are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (In Thousands) Debt and other securities Due within one year $ 5,512 $ 5,556 Due after one year through five years 36,877 37,925 Due after five years through ten years 20,581 20,451 Due after ten years - - Mortgage-related securities 85,891 89,269 $ 148,861 $ 153,201
Total Proceeds and Gross Gains and Losses from Sales of Investment Securities Available for Sale	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: September 30, 2020 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 $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations: Government sponsored enterprise issued - - - - - - Private label issued - - - - - - Government sponsored enterprise bonds 2,499 (1 ) - - 2,499 (1 ) Municipal securities - - - - - - Other debt securities 2,476 (24 ) 8,795 (1,205 ) 11,271 (1,229 ) $ 4,975 $ (25 ) $ 8,795 $ (1,205 ) $ 13,770 $ (1,230 ) 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 )

Loans Receivable (Tables)

Loans Receivable (Tables)	9 Months Ended
	Sep. 30, 2020
Loans Receivable [Abstract]
Components of Loans Receivable	Loans receivable at September 30, 2020 and December 31, 2019 are summarized as follows: September 30, 2020 December 31, 2019 (In Thousands) Mortgage loans: Residential real estate: One- to four-family $ 452,491 $ 480,280 Multi-family 599,637 584,859 Home equity 15,410 18,071 Construction and land 66,726 37,033 Commercial real estate 241,248 236,703 Consumer 783 832 Commercial loans 57,837 30,253 $ 1,434,132 $ 1,388,031
Analysis of Past Due Loans Receivable	An analysis of past due loans receivable as of September 30, 2020 and December 31, 2019 follows: As of September 30, 2020 1-59 Days Past Due (1) 60-89 Days Past Due (2) 90 Days or Greater Total Past Due Current (3) Total Loans (In Thousands) Mortgage loans: Residential real estate: One- to four-family $ 1,608 $ - $ 2,647 $ 4,255 $ 448,236 $ 452,491 Multi-family - - 314 314 599,323 599,637 Home equity 50 - 40 90 15,320 15,410 Construction and land - 51 - 51 66,675 66,726 Commercial real estate 699 - 51 750 240,498 241,248 Consumer - - - - 783 783 Commercial loans 95 - - 95 57,742 57,837 Total $ 2,452 $ 51 $ 3,052 $ 5,555 $ 1,428,577 $ 1,434,132 As of December 31, 2019 1-59 Days Past Due (1) 60-89 Days Past Due (2) 90 Days or Greater Total Past Due Current (3) Total Loans (In Thousands) Mortgage loans: 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 (1) (2) (3)
Allowance for Loan Losses	A summary of the activity for the nine months ended September 30, 2020 and 2019 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) Nine months ended September 30, 2020 Balance at beginning of period $ 4,907 $ 4,138 $ 201 $ 610 $ 2,145 $ 14 $ 372 $ 12,387 Provision (credit) for loan losses 854 1,703 (6 ) 1,004 2,300 33 422 6,310 Charge-offs (9 ) (5 ) (13 ) - - (10 ) - (37 ) Recoveries 132 17 22 2 11 - - 184 Balance at end of period $ 5,884 $ 5,853 $ 204 $ 1,616 $ 4,456 $ 37 $ 794 $ 18,844 Nine months ended September 30, 2019 Balance at beginning of period $ 5,742 $ 4,153 $ 325 $ 400 $ 2,126 $ 20 $ 483 $ 13,249 Provision (credit) for loan losses (488 ) (19 ) (89 ) 157 (200 ) (1 ) (90 ) (730 ) Charge-offs (69 ) (2 ) (44 ) - (2 ) (5 ) - (122 ) Recoveries 116 13 19 - 2 - - 150 Balance at end of period $ 5,301 $ 4,145 $ 211 $ 557 $ 1,926 $ 14 $ 393 $ 12,547 A summary of the activity for the three months ended September 30, 2020 and 2019 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) Three months ended September 30, 2020 Balance at beginning of period $ 5,715 $ 5,870 $ 218 $ 1,153 $ 4,124 $ 38 $ 616 $ 17,734 Provision (credit) for loan losses 100 (25 ) (18 ) 462 328 - 178 1,025 Charge-offs (2 ) - - - - (1 ) - (3 ) Recoveries 71 8 4 1 4 - - 88 Balance at end of period $ 5,884 $ 5,853 $ 204 $ 1,616 $ 4,456 $ 37 $ 794 $ 18,844 Three months ended September 30, 2019 Balance at beginning of period $ 5,303 $ 4,315 $ 275 $ 412 $ 1,913 $ 12 $ 387 $ 12,617 Provision (credit) for loan losses (39 ) (173 ) (35 ) 145 14 2 6 (80 ) Charge-offs (44 ) (1 ) (36 ) - (2 ) - - (83 ) Recoveries 81 4 7 - 1 - - 93 Balance at end of period $ 5,301 $ 4,145 $ 211 $ 557 $ 1,926 $ 14 $ 393 $ 12,547
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 September 30, 2020 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 $ 24 $ - $ - $ - $ - $ - $ - $ 24 Allowance related to loans collectively evaluated for impairment 5,860 5,853 204 1,616 4,456 37 794 18,820 Balance at end of period $ 5,884 $ 5,853 $ 204 $ 1,616 $ 4,456 $ 37 $ 794 $ 18,844 Loans individually evaluated for impairment $ 8,035 $ 616 $ 75 $ - $ 6,037 $ - $ - $ 14,763 Loans collectively evaluated for impairment 444,456 599,021 15,335 66,726 235,211 783 57,837 1,419,369 Total gross loans $ 452,491 $ 599,637 $ 15,410 $ 66,726 $ 241,248 $ 783 $ 57,837 $ 1,434,132 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of 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
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 September 30, 2020 and December 31, 2019: One to Four- Family Multi-Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) At September 30, 2020 Substandard $ 8,035 $ 616 $ 261 $ - $ 325 $ - $ 721 $ 9,958 Watch 6,983 - 6 4,330 12,193 - 4,242 27,754 Pass 437,473 599,021 15,143 62,396 228,730 783 52,874 1,396,420 $ 452,491 $ 599,637 $ 15,410 $ 66,726 $ 241,248 $ 783 $ 57,837 $ 1,434,132 At December 31, 2019 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
Impaired Loan Receivables	The following tables present data on impaired loans at September 30, 2020 and December 31, 2019. As of September 30, 2020 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 210 $ 210 $ 24 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - - - Consumer - - - - Commercial - - - - 210 210 24 - Total Impaired with no Reserve One- to four-family 7,825 8,820 - 995 Multi-family 616 1,427 - 811 Home equity 75 75 - - Construction and land - - - - Commercial real estate 6,037 6,037 - - Consumer - - - - Commercial - - - - 14,553 16,359 - 1,806 Total Impaired One- to four-family 8,035 9,030 24 995 Multi-family 616 1,427 - 811 Home equity 75 75 - - Construction and land - - - - Commercial real estate 6,037 6,037 - - Consumer - - - - Commercial - - - - $ 14,763 $ 16,569 $ 24 $ 1,806 As of December 31, 2019 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 217 $ 217 $ 32 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate 7 416 7 409 Consumer - - - - Commercial - - - - 224 633 39 409 Total Impaired with no Reserve One- to four-family 8,508 9,531 - 1,023 Multi-family 667 1,491 - 824 Home equity 84 84 - - Construction and land - - - - Commercial real estate 574 574 - - Consumer - - - - Commercial - - - - 9,833 11,680 - 1,847 Total Impaired One- to four-family 8,725 9,748 32 1,023 Multi-family 667 1,491 - 824 Home equity 84 84 - - Construction and land - - - - Commercial real estate 581 990 7 409 Consumer - - - - Commercial - - - - $ 10,057 $ 12,313 $ 39 $ 2,256 The following tables present data on impaired loans for the nine months ended September 30, 2020 and 2019. Nine months ended September 30, 2020 2019 Average Recorded Investment Interest Paid Average Recorded Investment Interest Paid (In Thousands) Total Impaired with Reserve One- to four-family $ 214 $ 12 $ 265 $ 11 Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - 11 - Consumer - - - - Commercial - - - - 214 12 276 11 Total Impaired with no Reserve One- to four-family 7,986 353 7,779 358 Multi-family 643 61 715 60 Home equity 78 3 129 6 Construction and land - - - - Commercial real estate 6,059 208 660 19 Consumer - - - - Commercial - - - - 14,766 625 9,283 443 Total Impaired One- to four-family 8,200 365 8,044 369 Multi-family 643 61 715 60 Home equity 78 3 129 6 Construction and land - - - - Commercial real estate 6,059 208 671 19 Consumer - - - - Commercial - - - - $ 14,980 $ 637 $ 9,559 $ 454
Troubled Debt Restructurings on Loan Receivables	The following presents data on troubled debt restructurings: As of September 30, 2020 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,736 2 $ 564 4 $ 3,300 6 Multi-family - - 272 2 272 2 Commercial real estate 5,986 2 - - 5,986 2 $ 8,722 4 $ 836 6 $ 9,558 10 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
Troubled Debt Restructurings by Concession Type	The following presents troubled debt restructurings by concession type: As of September 30, 2020 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,535 6 $ - - $ 3,535 6 Interest reduction 311 3 - - 311 3 Principal forbearance 5,712 1 - - 5,712 1 $ 9,558 10 $ - - $ 9,558 10 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
Loans Receivables, Non Accrual Status	The following table presents data on non-accrual loans as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (Dollars in Thousands) Non-accrual loans: Residential real estate: One- to four-family $ 5,299 $ 5,985 Multi-family 616 667 Home equity 75 70 Construction and land - - Commercial real estate 51 303 Commercial - - Consumer - - Total non-accrual loans $ 6,041 $ 7,025 Total non-accrual loans to total loans receivable 0.42 % 0.51 % Total non-accrual loans to total assets 0.27 % 0.35 %

Real Estate Owned (Tables)

Real Estate Owned (Tables)	9 Months Ended
	Sep. 30, 2020
Real Estate Owned [Abstract]
Real Estate Owned	Real estate owned is summarized as follows: September 30, 2020 December 31, 2019 (In Thousands) One- to four-family $ 70 $ 46 Multi-family - - Construction and land 1,256 1,256 Commercial real estate - - Total real estate owned 1,326 1,302 Valuation allowance at end of period (554 ) (554 ) Total real estate owned, net $ 772 $ 748 The following table presents the activity in the Company’s real estate owned: Nine months ended September 30, 2020 2019 (In Thousands) Real estate owned at beginning of the period $ 748 $ 2,152 Transferred from loans receivable 369 946 Sales (net of gains / losses) (345 ) (1,201 ) Write downs - - Other - (10 ) Real estate owned at the end of the period $ 772 $ 1,887

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2020
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights Activity	The following table presents the activity in the Company’s mortgage servicing rights: Nine months ended September 30, 2020 2019 (In Thousands) Mortgage servicing rights at beginning of the period $ 282 $ 109 Additions 8,936 225 Amortization (754 ) (68 ) Sales - - Mortgage servicing rights at end of the period 8,464 266 Valuation allowance during the period (42 ) (99 ) Mortgage servicing rights at end of the period, net $ 8,422 $ 167
Estimated Amortization Expense of Mortgage Servicing Rights	The following table shows the estimated future amortization expense for mortgage servicing rights for the periods indicated: Estimate for the period ending December 31: (In Thousands) 2020 $ 596 2021 2,609 2022 1,550 2023 1,374 2024 940 Thereafter 1,353 Total $ 8,422

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2020
Deposits [Abstract]
Contractual Maturities of Time Deposits	A summary of the contractual maturities of time deposits at September 30, 2020 is as follows: (In Thousands) Within one year $ 701,230 More than one to two years 38,658 More than two to three years 2,430 More than three to four years 686 More than four through five years 1,146 $ 744,150

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2020
Borrowings [Abstract]
Borrowings	Borrowings consist of the following: September 30, 2020 December 31, 2019 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreement $ 48,126 3.25 % $ 13,562 4.66 % Federal Home Loan Bank, Chicago 34,000 0.13 % - - Long term: Federal Home Loan Bank, Chicago advances maturing: 2027 50,000 1.73 % 50,000 1.73 % 2028 255,000 2.37 % 255,000 2.37 % 2029 165,000 1.61 % 165,000 1.61 % $ 552,126 2.02 % $ 483,562 2.11 %

Regulatory Capital (Tables)

Regulatory Capital (Tables)	9 Months Ended
	Sep. 30, 2020
Regulatory Capital [Abstract]
Actual and Required Capital Amounts and Ratios	The actual and required capital amounts and ratios for the Bank as of September 30, 2020 and December 31, 2019 are presented in the table below: September 30, 2020 Actual For Capital Adequacy Purposes Minimum Capital Adequacy with Capital Buffer To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) Total Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. $ 414,966 23.82 % $ 139,342 8.00 % $ 182,886 10.50 % $ N/A N/A WaterStone Bank 388,156 22.29 % 139,342 8.00 % 182,886 10.50 % 174,177 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 396,122 22.74 % 104,506 6.00 % 148,051 8.50 % N/A N/A WaterStone Bank 369,312 21.20 % 104,506 6.00 % 148,051 8.50 % 139,342 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 396,122 22.74 % 78,380 4.50 % 121,924 7.00 % N/A N/A WaterStone Bank 369,312 21.20 % 78,380 4.50 % 121,924 7.00 % 113,215 6.50 % Tier 1 Capital (to average assets) Consolidated Waterstone Financial, Inc. 396,122 18.09 % 87,571 4.00 % N/A N/A N/A N/A WaterStone Bank 369,312 16.87 % 87,571 4.00 % N/A N/A 109,464 5.00 % State of Wisconsin (to total assets) WaterStone Bank 369,312 16.64 % 133,135 6.00 % N/A N/A N/A N/A 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 10.50 % $ N/A N/A WaterStone Bank 353,357 22.85 % 123,716 8.00 % 162,378 10.50 % 154,646 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 392,361 25.37 % 92,799 6.00 % 131,465 8.50 % N/A N/A WaterStone Bank 340,970 22.05 % 92,787 6.00 % 131,449 8.50 % 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 7.00 % N/A N/A WaterStone Bank 340,970 22.05 % 69,590 4.50 % 108,252 7.00 % 100,520 6.50 % Tier 1 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

Commitments, Off-Balance Shee_2

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
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 statements of financial condition. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. September 30, 2020 December 31, 2019 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under amortizing loans (1) $ 18,290 $ 13,389 Commitments to extend credit under home equity lines of credit (2) 13,742 13,776 Unused portion of construction loans (3) 77,017 90,439 Unused portion of business lines of credit 19,558 14,623 Standby letters of credit 1,296 885 (1) (2) (3)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Calculations for Basic and Diluted Earnings Loss Per Share	Presented below are the calculations for basic and diluted earnings per share: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (In Thousands, except per share amounts) Net income $ 26,293 $ 10,924 $ 53,310 $ 27,109 Weighted average shares outstanding 24,297 25,772 24,720 26,168 Effect of dilutive potential common shares 83 190 122 204 Diluted weighted average shares outstanding 24,380 25,962 24,842 26,372 Basic earnings per share $ 1.08 $ 0.42 $ 2.16 $ 1.04 Diluted earnings per share $ 1.08 $ 0.42 $ 2.15 $ 1.03

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Values Measurements [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents information about our assets recorded in our consolidated statements of financial condition at their fair value on a recurring basis as of September 30, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using September 30, 2020 Level 1 Level 2 Level 3 (In Thousands) Assets Available-for-sale securities Mortgage-backed securities $ 26,100 $ - $ 26,100 $ - Collateralized mortgage obligations Government sponsored enterprise issued 59,519 - 59,519 - Private-label issued 3,650 - 3,650 - Government sponsored enterprise bonds 2,499 - 2,499 - Municipal securities 50,162 - 50,162 - Other debt securities 11,271 - 11,271 - Loans held for sale 385,803 - 385,803 - Mortgage banking derivative assets 12,600 - - 12,600 Interest rate swap assets 5,794 - 5,794 - Liabilities Mortgage banking derivative liabilities 445 - - 445 Interest rate swap liabilities 5,794 - 5,794 - 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, 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 2020 and 2019. Nine months ended September 30, 2020 2019 (In Thousands) Mortgage derivative, net balance at the beginning of the period $ 1,835 $ 898 Mortgage derivative gain, net 10,320 2,345 Mortgage derivative, net balance at the end of the period $ 12,155 $ 3,243
Fair Value Measurements, Nonrecurring	The following tables present information about our assets recorded in our consolidated statements of financial condition at their fair value on a non-recurring basis as of September 30, 2020 and December 31, 2019, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using September 30, 2020 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 186 $ - $ - $ 186 Real estate owned 772 - - 772 Impaired mortgage servicing rights 235 - - 235 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 (1) Represents collateral-dependent impaired loans, net, which are included in loans.
Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques	For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Significant Unobservable Input Value Fair Value at September 30, 2020 Valuation Technique Significant Unobservable Inputs Minimum Value Maximum Value Weighted Average Mortgage banking derivatives, net $ 12,155 Pricing models Pull through rate 12.0 % 95.0 % 86.0 % Impaired loans 186 Market approach Discount rates applied to appraisals 15.0 % 15.0 % 15.0 % Real estate owned 772 Market approach Discount rates applied to appraisals 13.0 % 59.0 % 48.0 % Mortgage servicing rights 235 Pricing models Prepayment rate 7.9 % 36.4 % 15.2 % Discount rate 9.5 % 14.3 % 10.0 % Cost to service $ 76.46 $ 164.13 $ 83.17
Fair Value, by Balance Sheet Grouping	The carrying amounts and fair values of the Company’s financial instruments consist of the following: September 30, 2020 December 31, 2019 Carrying amount Fair Value Carrying amount Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (In Thousands) Financial Assets Cash and cash equivalents $ 86,562 $ 86,562 $ 86,562 $ - $ - $ 74,300 $ 74,300 $ 65,800 $ 8,500 $ - Securities available-for-sale 153,201 153,201 - 153,201 - 178,476 178,476 - 178,476 - Loans held for sale 385,803 385,803 - 385,803 - 220,123 220,123 - 220,123 - Loans receivable 1,434,132 1,448,660 - - 1,448,660 1,388,031 1,426,224 - - 1,426,224 FHLB stock 26,720 26,720 - 26,720 - 21,150 21,150 - 21,150 - Accrued interest receivable 5,163 5,163 5,163 - - 5,344 5,344 5,344 - - Mortgage servicing rights 8,422 9,926 - - 9,926 282 282 - - 282 Mortgage banking derivative assets 12,600 12,600 - - 12,600 1,835 1,835 - - 1,835 Interest rate swap asset 5,794 5,794 - 5,794 - 680 680 - 680 - Financial Liabilities Deposits 1,184,651 1,185,424 440,501 744,923 - 1,067,776 1,070,083 328,005 742,078 - Advance payments by borrowers for taxes 25,987 25,987 25,987 - - 4,212 4,212 4,212 - - Borrowings 552,126 572,521 - 572,521 - 483,562 483,846 - 483,846 - Accrued interest payable 1,314 1,314 1,314 - - 1,559 1,559 1,559 - - Mortgage banking derivative liabilities 445 445 - - 445 - - - - - Interest rate swap liability 5,794 5,794 - 5,794 - 680 680 - 680 -

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Presented below is the segment information: As of or for the three months ended September 30, 2020 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 13,461 $ (58 ) $ 6 $ 13,409 Provision for loan losses 1,000 25 - 1,025 Net interest income (expense) after provision for loan losses 12,461 (83 ) 6 12,384 Noninterest income 3,104 73,143 (484 ) 75,763 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 5,000 34,559 (154 ) 39,405 Occupancy, office furniture and equipment 874 1,595 - 2,469 Advertising 252 609 - 861 Data processing 490 426 6 922 Communications 113 226 - 339 Professional fees 266 4,465 7 4,738 Real estate owned 11 - - 11 Loan processing expense - 1,336 - 1,336 Other 818 2,444 (342 ) 2,920 Total noninterest expenses 7,824 45,660 (483 ) 53,001 Income before income taxes 7,741 27,400 5 35,146 Income tax expense 1,565 7,284 4 8,853 Net income $ 6,176 $ 20,116 $ 1 $ 26,293 Total assets $ 2,118,968 $ 458,526 $ (356,672 ) $ 2,220,822 As of or for the three months ended September 30, 2019 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 13,885 $ (774 ) $ 43 $ 13,154 Provision for loan losses (150 ) 70 - (80 ) Net interest income (expense) after provision for loan losses 14,035 (844 ) 43 13,234 Noninterest income 1,415 36,535 (456 ) 37,494 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 4,075 23,616 (177 ) 27,514 Occupancy, office furniture and equipment 942 1,687 - 2,629 Advertising 202 711 - 913 Data processing 588 411 4 1,003 Communications 90 268 - 358 Professional fees 223 688 43 954 Real estate owned 24 - - 24 Loan processing expense - 858 - 858 Other 583 1,725 (329 ) 1,979 Total noninterest expenses 6,727 29,964 (459 ) 36,232 Income before income taxes 8,723 5,727 46 14,496 Income tax expense 1,982 1,584 6 3,572 Net income $ 6,741 $ 4,143 $ 40 $ 10,924 Total assets $ 1,969,835 $ 301,565 $ (265,971 ) $ 2,005,429 As of or for the nine months ended September 30, 2020 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 40,070 $ (948 ) $ 62 $ 39,184 Provision for loan losses 6,075 235 - 6,310 Net interest income (expense) after provision for loan losses 33,995 (1,183 ) 62 32,874 Noninterest income 7,068 168,159 (1,096 ) 174,131 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 15,074 86,085 (464 ) 100,695 Occupancy, office furniture and equipment 2,754 4,990 - 7,744 Advertising 797 1,828 - 2,625 Data processing 1,773 1,234 16 3,023 Communications 301 693 - 994 Professional fees 690 6,935 22 7,647 Real estate owned 55 - - 55 Loan processing expense - 3,620 - 3,620 Other 1,930 8,235 (670 ) 9,495 Total noninterest expenses 23,374 113,620 (1,096 ) 135,898 Income before income taxes 17,689 53,356 62 71,107 Income tax expense 3,293 14,492 12 17,797 Net income $ 14,396 $ 38,864 $ 50 $ 53,310 As of or for the nine months ended September 30, 2019 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income (expense) $ 40,547 $ (1,511 ) $ 35 $ 39,071 Provision (credit) for loan losses (850 ) 120 - (730 ) Net interest income (expense) after provision for loan losses 41,397 (1,631 ) 35 39,801 Noninterest income 3,375 94,470 (904 ) 96,941 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 13,502 62,255 (530 ) 75,227 Occupancy, office furniture and equipment 2,858 5,227 - 8,085 Advertising 603 2,231 - 2,834 Data processing 1,538 1,091 12 2,641 Communications 265 774 - 1,039 Professional fees 651 1,734 53 2,438 Real estate owned 75 - - 75 Loan processing expense - 2,542 - 2,542 Other 1,707 4,823 (475 ) 6,055 Total noninterest expenses 21,199 80,677 (940 ) 100,936 Income before income taxes 23,573 12,162 71 35,806 Income tax expense 5,263 3,415 19 8,697 Net income $ 18,310 $ 8,747 $ 52 $ 27,109

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Operating Expenses	The cost components of our operating leases were as follows for the three and nine months ended September 30, 2020 and September 30, 2019: Three months ended September 30, 2020 Three months ended September 30, 2019 Nine months ended September 30, 2020 Nine months ended September 30, 2019 (In Thousands) Operating lease cost $ 786 $ 809 $ 2,380 $ 2,371 Variable cost 134 111 374 527 Short-term lease cost 184 230 563 757 Total $ 1,104 $ 1,150 $ 3,317 $ 3,655
Other Information Related to Operating Leases	The table below summarizes other information related to our operating leases: Nine months ended September 30, 2020 (Dollars in Thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,689 Initial recognition of right of use asset 474 Initial recognition of lease liabilities 474 Weighted average remaining lease term - operating leases, in years 2.7 Weighted average discount rate - operating leases 5.3 %
Maturity Analysis of Lease Liabilities	As of September 30, 2020, lease liability information for the Company is summarized in the following table. Maturity analysis Operating leases (In Thousands) One year or less $ 2,930 More than one year through two years 1,988 More than two years through three years 1,511 More than three years through four years 715 More than four years through five years 92 More than five years 918 Total lease payments 8,154 Present value discount (1,182 ) Lease liability $ 6,972

Basis of Presentation (Details)

Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2020Office
Basis of Presentation [Abstract]
Number of offices	13
Percentage increase to allowance for credit loss	130.00%

Securities Available for Sale_3

Securities Available for Sale (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)Security	Sep. 30, 2019USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2019USD ($)
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	$ 148,861,000				$ 176,903,000
Gross unrealized gains	5,570,000				2,993,000
Gross unrealized losses	(1,230,000)				(1,420,000)
Fair Value	$ 153,201,000				178,476,000
Percentage loss of amortized cost	12.10%
Amortized cost of investment securities by contractual maturity [Abstract]
Due within one year	$ 5,512,000
Due after one year through five years	36,877,000
Due after five years through ten years	20,581,000
Due after ten years	0
Mortgage-related securities	85,891,000
Amortized Cost	148,861,000				176,903,000
Fair value of investment securities by contractual maturity [Abstract]
Due within one year	5,556,000
Due after one year through five years	37,925,000
Due after five years through ten years	20,451,000
Due after ten years	0
Mortgage-related securities	89,269,000
Fair Value	153,201,000				178,476,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	4,975,000				24,752,000
12 months or longer	8,795,000				18,909,000
Fair value	13,770,000				43,661,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(25,000)				(157,000)
12 months or longer	(1,205,000)				(1,263,000)
Unrealized loss	(1,230,000)				(1,420,000)
Mortgage-Backed Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	24,872,000				33,773,000
Gross unrealized gains	1,228,000				422,000
Gross unrealized losses	0				(45,000)
Fair Value	26,100,000				34,150,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	24,872,000				33,773,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	26,100,000				34,150,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				2,929,000
12 months or longer	0				2,849,000
Fair value	0				5,778,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				(20,000)
12 months or longer	0				(25,000)
Unrealized loss	0				(45,000)
Collateralized Mortgage Obligations, Government Sponsored Enterprise Issued [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	57,424,000				81,232,000
Gross unrealized gains	2,095,000				776,000
Gross unrealized losses	0				(254,000)
Fair Value	59,519,000				81,754,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	57,424,000				81,232,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	59,519,000				81,754,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				21,723,000
12 months or longer	0				7,180,000
Fair value	0				28,903,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				(136,000)
12 months or longer	0				(118,000)
Unrealized loss	0				(254,000)
Collateralized Mortgage Obligations, Private label Issued [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	3,595,000
Gross unrealized gains	55,000
Gross unrealized losses	0
Fair Value	3,650,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	3,595,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	3,650,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0
12 months or longer	0
Fair value	0
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0
12 months or longer	0
Unrealized loss	0
Mortgage-Related Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	85,891,000				115,005,000
Gross unrealized gains	3,378,000				1,198,000
Gross unrealized losses	0				(299,000)
Fair Value	89,269,000				115,904,000
Securities pledged as collateral	897,000				1,200,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	85,891,000				115,005,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	89,269,000				115,904,000
Government Sponsored Enterprise Bonds [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	2,500,000
Gross unrealized gains	0
Gross unrealized losses	(1,000)
Fair Value	2,499,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	2,500,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	2,499,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	2,499,000
12 months or longer	0
Fair value	2,499,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(1,000)
12 months or longer	0
Unrealized loss	(1,000)
Municipal Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	47,970,000				51,898,000
Gross unrealized gains	2,192,000				1,795,000
Gross unrealized losses	0				(1,000)
Fair Value	$ 50,162,000				53,692,000
Number of securities that were other-than-temporarily impaired | Security	1
Credit losses charged to earnings with respect to municipal security				$ 77,000
Additional credit loss charged to earnings			$ 17,000
Amortized Cost	$ 116,000
Impairment on securities	94,000
Proceeds from sales of investment securities	0	$ 0
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	47,970,000				51,898,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	50,162,000				53,692,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				100,000
12 months or longer	0				0
Fair value	0				100,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				(1,000)
12 months or longer	0				0
Unrealized loss	0				(1,000)
Other Debt Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	12,500,000				10,000,000
Gross unrealized gains	0				0
Gross unrealized losses	(1,229,000)				(1,120,000)
Fair Value	11,271,000				8,880,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	12,500,000				10,000,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	11,271,000				8,880,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	2,476,000				0
12 months or longer	8,795,000				8,880,000
Fair value	11,271,000				8,880,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(24,000)				0
12 months or longer	(1,205,000)				(1,120,000)
Unrealized loss	(1,229,000)				(1,120,000)
Debt Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	62,970,000				61,898,000
Gross unrealized gains	2,192,000				1,795,000
Gross unrealized losses	(1,230,000)				(1,121,000)
Fair Value	$ 63,932,000				62,572,000
Number of securities that were in unrealized loss position twelve months or longer | Security	1
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	$ 62,970,000				61,898,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	63,932,000				$ 62,572,000
Back-to-Back Swaps [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Securities pledged as collateral	$ 7,800,000

Loans Receivable, Part I (Detai

Loans Receivable, Part I (Details) $ in Thousands	Sep. 30, 2020USD ($)Loan	Dec. 31, 2019USD ($)Loan
Mortgage Loans [Abstract]
Loans receivable	$ 1,434,132	$ 1,388,031
Loans receivable pledged as collateral	1,320	1,070
Advances by Federal Home Loan Bank	504,000	470,000
Loans outstanding to related parties	$ 6,500	$ 6,300
Number of loans impaired | Loan	0	0
Residential Real Estate [Member] | One-to-Four Family [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 452,491	$ 480,280
Residential Real Estate [Member] | Multi Family [Member]
Mortgage Loans [Abstract]
Loans receivable	599,637	584,859
Residential Real Estate [Member] | Home Equity [Member]
Mortgage Loans [Abstract]
Loans receivable	15,410	18,071
Construction and Land [Member]
Mortgage Loans [Abstract]
Loans receivable	66,726	37,033
Commercial Real Estate [Member]
Mortgage Loans [Abstract]
Loans receivable	241,248	236,703
Consumer [Member]
Mortgage Loans [Abstract]
Loans receivable	783	832
Commercial Loans [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 57,837	$ 30,253

Loans Receivable, Part II (Deta

Loans Receivable, Part II (Details) - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 5,555,000	$ 6,465,000
Current	[1]	1,428,577,000	1,381,566,000
Total Loans		1,434,132,000	1,388,031,000
Loan Receivable, Nonaccrual Status		2,600,000	2,000,000
90 or more days past due		0	0
1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	2,452,000	1,185,000
Loan Receivable, Nonaccrual Status		407,000	53,000
60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	51,000	648,000
Loan Receivable, Nonaccrual Status		0	291,000,000,000
Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		3,052,000	4,632,000
Residential Real Estate [Member] | One-to-Four Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		4,255,000	5,786,000
Current	[1]	448,236,000	474,494,000
Total Loans		452,491,000	480,280,000
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]	1,608,000	1,179,000
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]	0	638,000
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		2,647,000	3,969,000
Residential Real Estate [Member] | Multi Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		314,000	360,000
Current	[1]	599,323,000	584,499,000
Total Loans		599,637,000	584,859,000
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		314,000	360,000
Residential Real Estate [Member] | Home Equity [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		90,000	10,000
Current	[1]	15,320,000	18,061,000
Total Loans		15,410,000	18,071,000
Residential Real Estate [Member] | Home Equity [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	50,000	0
Residential Real Estate [Member] | Home Equity [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	10,000
Residential Real Estate [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		40,000	0
Construction and Land [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		51,000	0
Current	[1]	66,675,000	37,033,000
Total Loans		66,726,000	37,033,000
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]	51,000	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		750,000	303,000
Current	[1]	240,498,000	236,400,000
Total Loans		241,248,000	236,703,000
Commercial Real Estate [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	699,000	0
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		51,000	303,000
Consumer [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Current	[1]	783,000	832,000
Total Loans		783,000	832,000
Consumer [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	0
Consumer [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Consumer [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Commercial Loans [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		95,000	6,000
Current	[1]	57,742,000	30,247,000
Total Loans		57,837,000	30,253,000
Commercial Loans [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	95,000	6,000
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	$ 0
[1]	Includes $2.6 million and $2.0 million at September 30, 2020 and December 31, 2019, respectively, which are on non-accrual status.
[2]	Includes $407,000 and $53,000 at September 30, 2020 and December 31, 2019, respectively, which are on non-accrual status.
[3]	Includes $- and $291,000 at September 30, 2020 and December 31, 2019, respectively, which are on non-accrual status.

Loans Receivable, Part III (Det

Loans Receivable, Part III (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Dec. 31, 2019
Allowance for loan losses [Roll Forward]
Balance at beginning of period	$ 17,734	$ 12,617	$ 12,387	$ 13,249
Provision (credit) for loan losses	1,025	(80)	6,310	(730)
Charge-offs	(3)	(83)	(37)	(122)
Recoveries	88	93	184	150
Balance at end of period	18,844	12,547	18,844	12,547
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					$ 24	$ 39
Allowance related to loans collectively evaluated for impairment					18,820	12,348
Provision for loan losses	17,734	12,617	18,844	12,547	18,844	12,387
Loans individually evaluated for impairment					14,763	10,057
Loans collectively evaluated for impairment					1,419,369	1,377,974
Total gross loans					1,434,132	1,388,031
Total loans					1,434,132	1,388,031
Residential Real Estate [Member] | One-to-Four Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,715	5,303	4,907	5,742
Provision (credit) for loan losses	100	(39)	854	(488)
Charge-offs	(2)	(44)	(9)	(69)
Recoveries	71	81	132	116
Balance at end of period	5,884	5,301	5,884	5,301
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					24	32
Allowance related to loans collectively evaluated for impairment					5,860	4,875
Provision for loan losses	5,715	5,303	5,884	5,301	5,884	4,907
Loans individually evaluated for impairment					8,035	8,725
Loans collectively evaluated for impairment					444,456	471,555
Total gross loans					452,491	480,280
Total loans					452,491	480,280
Residential Real Estate [Member] | Multi Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,870	4,315	4,138	4,153
Provision (credit) for loan losses	(25)	(173)	1,703	(19)
Charge-offs	0	(1)	(5)	(2)
Recoveries	8	4	17	13
Balance at end of period	5,853	4,145	5,853	4,145
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					5,853	4,138
Provision for loan losses	5,870	4,315	5,853	4,145	5,853	4,138
Loans individually evaluated for impairment					616	667
Loans collectively evaluated for impairment					599,021	584,192
Total gross loans					599,637	584,859
Total loans					599,637	584,859
Residential Real Estate [Member] | Home Equity [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	218	275	201	325
Provision (credit) for loan losses	(18)	(35)	(6)	(89)
Charge-offs	0	(36)	(13)	(44)
Recoveries	4	7	22	19
Balance at end of period	204	211	204	211
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					204	201
Provision for loan losses	218	275	204	211	204	201
Loans individually evaluated for impairment					75	84
Loans collectively evaluated for impairment					15,335	17,987
Total gross loans					15,410	18,071
Total loans					15,410	18,071
Construction and Land [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	1,153	412	610	400
Provision (credit) for loan losses	462	145	1,004	157
Charge-offs	0	0	0	0
Recoveries	1	0	2	0
Balance at end of period	1,616	557	1,616	557
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					1,616	610
Provision for loan losses	1,153	412	1,616	557	1,616	610
Loans individually evaluated for impairment					0	0
Loans collectively evaluated for impairment					66,726	37,033
Total gross loans					66,726	37,033
Total loans					66,726	37,033
Commercial Real Estate [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	4,124	1,913	2,145	2,126
Provision (credit) for loan losses	328	14	2,300	(200)
Charge-offs	0	(2)	0	(2)
Recoveries	4	1	11	2
Balance at end of period	4,456	1,926	4,456	1,926
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	7
Allowance related to loans collectively evaluated for impairment					4,456	2,138
Provision for loan losses	4,124	1,913	4,456	1,926	4,456	2,145
Loans individually evaluated for impairment					6,037	581
Loans collectively evaluated for impairment					235,211	236,122
Total gross loans					241,248	236,703
Total loans					241,248	236,703
Consumer [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	38	12	14	20
Provision (credit) for loan losses	0	2	33	(1)
Charge-offs	(1)	0	(10)	(5)
Recoveries	0	0	0	0
Balance at end of period	37	14	37	14
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					37	14
Provision for loan losses	38	12	37	14	37	14
Loans individually evaluated for impairment					0	0
Loans collectively evaluated for impairment					783	832
Total gross loans					783	832
Total loans					783	832
Commercial Loans [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	616	387	372	483
Provision (credit) for loan losses	178	6	422	(90)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Balance at end of period	794	393	794	393
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					794	372
Provision for loan losses	$ 616	$ 387	$ 794	$ 393	794	372
Loans individually evaluated for impairment					0	0
Loans collectively evaluated for impairment					57,837	30,253
Total gross loans					57,837	30,253
Total loans					$ 57,837	$ 30,253

Loans Receivable, Part IV (Deta

Loans Receivable, Part IV (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Loans and Leases Receivable [Abstract]
At December 31, 2016	$ 1,434,132,000		$ 1,388,031,000
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	$ 210,000		224,000
Total Impaired, with no Reserve, Recorded Investment	14,553,000		9,833,000
Total Impaired, Recorded Investment	14,763,000		10,057,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	210,000		633,000
Total Impaired with no Reserve, Unpaid Principal Balance	16,359,000		11,680,000
Total Impaired, Unpaid Principal Balance, Total	16,569,000		12,313,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	24,000		39,000
Total Impaired with no Reserve, Reserve	0		0
Impaired Loans, Reserve	24,000		39,000
Impaired Loans Receivable, Cumulative Charge Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0		409,000
Total Impaired with no Reserve, Cumulative Charge-offs	1,806,000		1,847,000
Total Impaired, Cumulative Charge-offs	1,806,000		2,256,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	214,000	$ 276,000
Total Impaired with no Reserve, Average Recorded Investment	14,766,000	9,283,000
Total Impaired, Average Recorded Investment, Total	14,980,000	9,559,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	12,000	11,000
Total Impaired with no Reserve, Interest Paid YTD	625,000	443,000
Total Impaired, Interest Paid YTD	637,000	454,000
Charge-offs recorded to reduce the unpaid principal balance	1,800,000
Total impaired loans including troubled debt restructurings	9,558,000		4,018,000
Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	9,958,000		11,013,000
Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	27,754,000		8,237,000
Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	1,396,420,000		1,368,781,000
Residential Real Estate [Member] | One-to-Four Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	452,491,000		480,280,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	210,000		217,000
Total Impaired, with no Reserve, Recorded Investment	7,825,000		8,508,000
Total Impaired, Recorded Investment	8,035,000		8,725,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	210,000		217,000
Total Impaired with no Reserve, Unpaid Principal Balance	8,820,000		9,531,000
Total Impaired, Unpaid Principal Balance, Total	9,030,000		9,748,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	24,000		32,000
Total Impaired with no Reserve, Reserve	0		0
Impaired Loans, Reserve	24,000		32,000
Impaired Loans Receivable, Cumulative Charge Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0		0
Total Impaired with no Reserve, Cumulative Charge-offs	995,000		1,023,000
Total Impaired, Cumulative Charge-offs	995,000		1,023,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	214,000	265,000
Total Impaired with no Reserve, Average Recorded Investment	7,986,000	7,779,000
Total Impaired, Average Recorded Investment, Total	8,200,000	8,044,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	12,000	11,000
Total Impaired with no Reserve, Interest Paid YTD	353,000	358,000
Total Impaired, Interest Paid YTD	365,000	369,000
Total impaired loans including troubled debt restructurings	3,300,000		3,425,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	8,035,000		8,725,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	6,983,000		5,975,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	437,473,000		465,580,000
Residential Real Estate [Member] | Multi Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	599,637,000		584,859,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		0
Total Impaired, with no Reserve, Recorded Investment	616,000		667,000
Total Impaired, Recorded Investment	616,000		667,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	1,427,000		1,491,000
Total Impaired, Unpaid Principal Balance, Total	1,427,000		1,491,000
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	811,000		824,000
Total Impaired, Cumulative Charge-offs	811,000		824,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	643,000	715,000
Total Impaired, Average Recorded Investment, Total	643,000	715,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	61,000	60,000
Total Impaired, Interest Paid YTD	61,000	60,000
Total impaired loans including troubled debt restructurings	272,000		308,000
Residential Real Estate [Member] | Multi Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	616,000		668,000
Residential Real Estate [Member] | Multi Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	0		0
Residential Real Estate [Member] | Multi Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	599,021,000		584,191,000
Residential Real Estate [Member] | Home Equity [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	15,410,000		18,071,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		0
Total Impaired, with no Reserve, Recorded Investment	75,000		84,000
Total Impaired, Recorded Investment	75,000		84,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	75,000		84,000
Total Impaired, Unpaid Principal Balance, Total	75,000		84,000
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	78,000	129,000
Total Impaired, Average Recorded Investment, Total	78,000	129,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	3,000	6,000
Total Impaired, Interest Paid YTD	3,000	6,000
Residential Real Estate [Member] | Home Equity [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	261,000		285,000
Residential Real Estate [Member] | Home Equity [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	6,000		3,000
Residential Real Estate [Member] | Home Equity [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	15,143,000		17,783,000
Construction and Land [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	66,726,000		37,033,000
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	4,330,000		0
Construction and Land [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	62,396,000		37,033,000
Commercial Real Estate [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	241,248,000		236,703,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		7,000
Total Impaired, with no Reserve, Recorded Investment	6,037,000		574,000
Total Impaired, Recorded Investment	6,037,000		581,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		416,000
Total Impaired with no Reserve, Unpaid Principal Balance	6,037,000		574,000
Total Impaired, Unpaid Principal Balance, Total	6,037,000		990,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	0		7,000
Total Impaired with no Reserve, Reserve	0		0
Impaired Loans, Reserve	0		7,000
Impaired Loans Receivable, Cumulative Charge Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0		409,000
Total Impaired with no Reserve, Cumulative Charge-offs	0		0
Total Impaired, Cumulative Charge-offs	0		409,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	11,000
Total Impaired with no Reserve, Average Recorded Investment	6,059,000	660,000
Total Impaired, Average Recorded Investment, Total	6,059,000	671,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	208,000	19,000
Total Impaired, Interest Paid YTD	208,000	19,000
Total impaired loans including troubled debt restructurings	5,986,000		285,000
Commercial Real Estate [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	325,000		581,000
Commercial Real Estate [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	12,193,000		1,412,000
Commercial Real Estate [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	228,730,000		234,710,000
Consumer [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	783,000		832,000
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	783,000		832,000
Commercial Loans [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	57,837,000		30,253,000
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		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
Commercial Loans [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	721,000		754,000
Commercial Loans [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	4,242,000		847,000
Commercial Loans [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2016	$ 52,874,000		$ 28,652,000

Loans Receivable, Part V (Detai

Loans Receivable, Part V (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)Loan	Sep. 30, 2019Loan	Sep. 30, 2020USD ($)LoanPaymentRestructuring	Sep. 30, 2019LoanRestructuring	Dec. 31, 2019USD ($)Loan
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 9,558,000		$ 9,558,000		$ 4,018,000
Total number of troubled debt restructurings | Loan			10		11
Valuation allowance with respect to troubled debt restructurings	0		$ 0		$ 7,000
Minimum number of consecutive contractual payments received prior to consideration for a return to accrual status | Payment			6
Outstanding loans subject to interest and principal deferrals	3,200,000		$ 3,200,000
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 9,558,000		$ 9,558,000		$ 3,570,000
Number of loans performing in accordance with modified terms | Loan	10		10		9
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0		$ 448,000
Number of Loans in Default | Loan	0		0		2
Loans Receivable, Modifications, Total	$ 9,558,000		$ 9,558,000		$ 4,018,000
Number of Loans, Total | Loan	10		10		11
Data on Troubled Debt Restructuring [Abstract]
Number of loans modified as a troubled debt restructuring | Loan	1	0	1	0
Number of trouble debt restructuring modified within the past twelve months for which there was a default | Restructuring			0	0
Non accrual Loans [Abstract]
Total non-accrual loans	$ 6,041,000		$ 6,041,000		$ 7,025,000
Ratio of total non-accrual loans to total loans, net of allowance			0.42%		0.51%
Ratio of total non-accrual loans to total assets			0.27%		0.35%
Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	8,722,000		$ 8,722,000		$ 3,018,000
Total number of troubled debt restructurings | Loan			4		3
Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	836,000		$ 836,000		$ 1,000,000
Total number of troubled debt restructurings | Loan			6		8
Interest Reduction and Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 3,535,000		$ 3,535,000		$ 3,246,000
Number of loans performing in accordance with modified terms | Loan	6		6		6
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0		$ 448,000
Number of Loans in Default | Loan	0		0		2
Loans Receivable, Modifications, Total	$ 3,535,000		$ 3,535,000		$ 3,694,000
Number of Loans, Total | Loan	6		6		8
Interest Reduction [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 311,000		$ 311,000		$ 324,000
Number of loans performing in accordance with modified terms | Loan	3		3		3
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0		$ 0
Number of Loans in Default | Loan	0		0		0
Loans Receivable, Modifications, Total	$ 311,000		$ 311,000		$ 324,000
Number of Loans, Total | Loan	3		3		3
Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 5,712,000		$ 5,712,000
Number of loans performing in accordance with modified terms | Loan	1		1
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0
Number of Loans in Default | Loan	0		0
Loans Receivable, Modifications, Total	$ 5,712,000		$ 5,712,000
Number of Loans, Total | Loan	1		1
Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 3,300,000		$ 3,300,000		$ 3,425,000
Total number of troubled debt restructurings | Loan			6		7
Non accrual Loans [Abstract]
Total non-accrual loans	5,299,000		$ 5,299,000		$ 5,985,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	2,736,000		$ 2,736,000		$ 2,740,000
Total number of troubled debt restructurings | Loan			2		2
Residential Real Estate [Member] | One-to-Four Family [Member] | Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	564,000		$ 564,000		$ 685,000
Total number of troubled debt restructurings | Loan			4		5
Residential Real Estate [Member] | Multi Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	272,000		$ 272,000		$ 308,000
Total number of troubled debt restructurings | Loan			2		2
Non accrual Loans [Abstract]
Total non-accrual loans	616,000		$ 616,000		$ 667,000
Residential Real Estate [Member] | Multi Family [Member] | Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	0		$ 0		$ 0
Total number of troubled debt restructurings | Loan			0		0
Residential Real Estate [Member] | Multi Family [Member] | Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	272,000		$ 272,000		$ 308,000
Total number of troubled debt restructurings | Loan			2		2
Residential Real Estate [Member] | Home Equity [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	75,000		$ 75,000		$ 70,000
Construction and Land [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	0		0		0
Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	5,986,000		$ 5,986,000		$ 285,000
Total number of troubled debt restructurings | Loan			2		2
Non accrual Loans [Abstract]
Total non-accrual loans	51,000		$ 51,000		$ 303,000
Commercial Real Estate [Member] | Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	5,986,000		$ 5,986,000		$ 278,000
Total number of troubled debt restructurings | Loan			2		1
Commercial Real Estate [Member] | Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	0		$ 0		$ 7,000
Total number of troubled debt restructurings | Loan			0		1
Consumer [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	0		$ 0		$ 0
Commercial Loans [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	$ 0		$ 0		$ 0

Real Estate Owned (Details)

Real Estate Owned (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Real estate owned, net	$ 772	$ 1,887	$ 748	$ 2,152
Transferred from loans receivable	369	946
Sales	(345)	(1,201)
Write downs	0	0
Other	0	$ (10)
Mortgage loans in process of foreclosure	2,700		2,300
One-to-Four Family [Member]
Real Estate [Abstract]
Real estate owned, net	70		46
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		1,256
Commercial Real Estate [Member]
Real Estate [Abstract]
Real estate owned, net	0		0
Real Estate Owned Prior To Valuation Allowance [Member]
Real Estate [Abstract]
Real estate owned, net	1,326		1,302
Valuation Allowance, Real Estate Owned [Member]
Real Estate [Abstract]
Valuation allowance at end of period	$ (554)		$ (554)

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Mortgage servicing rights [Roll Forward]
Mortgage servicing rights at beginning of the period	$ 282,000	$ 109,000
Additions	8,936,000	225,000
Amortization	(754,000)	(68,000)
Sales	0	0
Mortgage servicing rights at end of the period	8,464,000	266,000
Valuation allowance at end of period	(42,000)	(99,000)
Mortgage servicing rights at end of the period, net	8,422,000	167,000
Fair value of mortgage servicing rights	9.9	180,000
Estimated future servicing rights amortization expense by period [Abstract]
2020	596,000
2021	2,609,000
2022	1,550,000
2023	1,374,000
2024	940,000
Thereafter	1,353,000
Total	8,422,000
MSR Sales [Abstract]
Loans originated for sale	3,060,000,000
Sales of loans held for sale	3,070,000,000
Generated mortgage banking income	166,300,000
Loans sold on a servicing retained basis	1,240,000,000		$ 64,900,000
Sold mortgage servicing rights	$ 0	$ 0

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deposits [Abstract]
Time deposits, greater than $250,000	$ 77,300	$ 70,600
Summary of the contractual maturities of time deposits [Abstract]
Within one year	701,230
More than one to two years	38,658
More than two to three years	2,430
More than three to four years	686
More than four through five years	1,146
Time deposits	$ 744,150	$ 739,771

Borrowings (Details)

Borrowings (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)Advance	Dec. 31, 2019USD ($)
Debt Instruments [Abstract]
Short-term borrowings	$ 34,000
Long-term borrowings	552,126	$ 483,562
Total commitment on repurchase agreements	$ 55,000
Percentage of carrying value of qualifying one-to-four family loans	80.00%
Percentage of carrying value of qualifying home equity loans	75.00%
Percentage of carrying value of qualifying multi-family loans	64.00%
FHLBC stock as collateral	$ 26,700	21,200
Federal Home Loan Bank, Chicago [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 34,000	$ 0
Weighted average rate	0.13%	0.00%
Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 552,126	$ 483,562
Weighted average rate	2.02%	2.11%
Repurchase Agreements [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 48,126	$ 13,562
Weighted average rate	3.25%	4.66%
Short Term Debt Maturing On August 5, 2020 [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 30,000
Maturity date	Oct. 22, 2020
Interest rate	0.15%
Number of short-term borrowings advances | Advance	1
Short Term Debt Maturing On May 1, 2020 [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 4,000
Maturity date	May 1, 2021
Interest rate	0.00%
Number of short-term borrowings advances | Advance	1
Long Term Debt Maturing 2027 [Member] | Federal Home Loan Bank, Chicago [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2027
FHLB, interest rate	1.73%
Long Term Debt Maturing 2027 [Member] | Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000	$ 50,000
Weighted average rate	1.73%	1.73%
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 25,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	1
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago [Member] | First Advance [Member]
Debt Instruments [Abstract]
FHLB, interest rate	2.16%
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago [Member] | Second Advance [Member]
Debt Instruments [Abstract]
FHLB, interest rate	2.40%
Long Term Debt Maturing 2028 [Member] | FHLB Single Call Option in March 2021 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 55,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	2
FHLB, interest rate	2.27%
Long Term Debt Maturing 2028 [Member] | FHLB Single Call Option in May 2021 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	2
Long Term Debt Maturing 2028 [Member] | FHLB Single Call Option in May 2021 [Member] | Minimum [Member]
Debt Instruments [Abstract]
FHLB, interest rate	2.34%
Long Term Debt Maturing 2028 [Member] | FHLB Single Call Option in May 2021 [Member] | Maximum [Member]
Debt Instruments [Abstract]
FHLB, interest rate	2.48%
Long Term Debt Maturing 2028 [Member] | FHLB Quarterly Call Option in June 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	1
FHLB, interest rate	2.34%
Long Term Debt Maturing 2028 [Member] | FHLB Quarterly Call Option in September 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	1
FHLB, interest rate	2.57%
Long Term Debt Maturing 2028 [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 2029 [Member] | FHLB Quarterly Call Option in May 2022 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2029
Number of FHLB advances | Advance	1
FHLB, interest rate	1.98%
Long Term Debt Maturing 2029 [Member] | FHLB Quarterly Call Option in August 2021 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2029
Number of FHLB advances | Advance	1
FHLB, interest rate	1.75%
Long Term Debt Maturing 2029 [Member] | FHLB Quarterly Call Option in November 2020 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 25,000
FHLB, year of maturity	2029
Number of FHLB advances | Advance	1
FHLB, interest rate	1.52%
Long Term Debt Maturing 2029 [Member] | FHLB Quarterly Call Option [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 40,000
FHLB, year of maturity	2029
Number of FHLB advances | Advance	1
FHLB, interest rate	1.02%
Long Term Debt Maturing 2029 [Member] | Federal Home Loan Bank, Chicago Advances [Member] | Long Term FHLB maturing 2029 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 165,000	$ 165,000
Weighted average rate	1.61%	1.61%

Regulatory Capital (Details)

Regulatory Capital (Details) $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 414,966	$ 404,748
Tier I capital (to risk-weighted assets)		392,361
Common Equity Tier 1 Capital (to risk-weighted assets)	396,122	392,361
Tier I capital (to average assets)	$ 396,122	$ 392,361
Total capital (to risk-weighted assets) Ratio	0.2382	0.2617
Tier I capital (to risk-weighted assets) Ratio		0.2537
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	0.2274	0.2537
Tier I capital (to average assets) Ratio	0.1809	0.1969
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 139,342	$ 123,731
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes		92,799
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	78,380	69,599
Tier I capital (to average assets), For Capital Adequacy Purposes	$ 87,571	$ 79,691
Total capital (to risk-weighted assets), For Capital Adequacy Ratio	0.0800	0.0800
Tier I capital (to risk-weighted assets), For Capital Adequacy Ratio		0.0600
Common Equity Tier I capital (to risk-weighted), For Capital Adequacy Ratio	0.0450	0.0450
Tier I capital (to average assets), For Capital Adequacy Ratio	0.0400	0.0400
Total capital (to risk-weighted assets), Minimum Capital Adequacy with Capital Buffer	$ 182,886	$ 162,398
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer		131,465
Common Equity Tier I capital (to risk weighted assets) Minimum Capital Adequacy with Capital Buffer	$ 121,924	$ 108,265
Total capital (to risk-weighted assets), Minimum Capital Adequacy with Capital Buffer Ratio	10.50%	10.50%
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer Ratio		8.50%
Common Equity Tier I capital (to risk weighted), Minimum Capital Adequacy with Capital Buffer Ratio	7.00%	7.00%
Waterstone Bank [Member]
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 388,156	$ 353,357
Tier I capital (to risk-weighted assets)	369,312	340,970
Common Equity Tier 1 Capital (to risk-weighted assets)	369,312	340,970
Tier I capital (to average assets)	369,312	340,970
State of Wisconsin (to total assets)	$ 369,312	$ 340,970
Total capital (to risk-weighted assets) Ratio	0.2229	0.2285
Tier I capital (to risk-weighted assets) Ratio	0.2120	0.2205
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	0.2120	0.2205
Tier I capital (to average assets) Ratio	0.1687	0.1711
State of Wisconsin (to total assets) Ratio	16.64%	17.11%
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 139,342	$ 123,716
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	104,506	92,787
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	78,380	69,590
Tier I capital (to average assets), For Capital Adequacy Purposes	87,571	79,691
State of Wisconsin (to total assets), For Capital Adequacy Purposes	$ 133,135	$ 119,590
Total capital (to risk-weighted assets), For Capital Adequacy Ratio	0.0800	0.0800
Tier I capital (to risk-weighted assets), For Capital Adequacy Ratio	0.0600	0.0600
Common Equity Tier I capital (to risk-weighted), For Capital Adequacy Ratio	0.0450	0.0450
Tier I capital (to average assets), For Capital Adequacy Ratio	0.0400	0.0400
State of Wisconsin (to total assets), For Capital Adequacy Ratio	6.00%	6.00%
Total capital (to risk-weighted assets), Minimum Capital Adequacy with Capital Buffer	$ 182,886	$ 162,378
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer	148,051	131,449
Common Equity Tier I capital (to risk weighted assets) Minimum Capital Adequacy with Capital Buffer	$ 121,924	$ 108,252
Total capital (to risk-weighted assets), Minimum Capital Adequacy with Capital Buffer Ratio	10.50%	10.50%
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer Ratio	8.50%	8.50%
Common Equity Tier I capital (to risk weighted), Minimum Capital Adequacy with Capital Buffer Ratio	7.00%	7.00%
Total capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 174,177	$ 154,646
Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	139,342	123,716
Common Equity Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	113,215	100,520
Tier I capital (to average assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 109,464	$ 99,614
Total capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	0.1000	0.1000
Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	0.0800	0.0800
Common Equity Tier I capital (to risk-weighted) , To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	0.0650	0.0650
Tier I capital (to average assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio	0.0500	0.0500
Consolidated Waterstone Financial, Inc. [Member]
Actual and Required Capital Amounts and Ratios [Abstract]
Tier I capital (to risk-weighted assets)	$ 396,122
Tier I capital (to risk-weighted assets) Ratio	0.2274
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 104,506
Tier I capital (to risk-weighted assets), For Capital Adequacy Ratio	0.0600
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer	$ 148,051
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer Ratio	8.50%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Taxes [Abstract]
Income tax expense	$ 8,853,000	$ 3,572,000	$ 17,797,000	$ 8,697,000
Effective tax rate			25.00%	24.30%
Benefit related to stock awards exercised			$ 82,000	$ 113,000
Proceeds from death benefit on bank owned life insurance	$ 354,000		$ 354,000

Commitments, Off-Balance Shee_3

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities, Commitments and Off-Balance Sheet Arrangements (Details) - USD ($)		1 Months Ended	9 Months Ended
		Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Period of home equity loans available to the borrower			10 years
Amount of damages awarded		$ 4,250,000
Reserve for losses		3,200,000	$ 3,200,000	$ 921,000
Maximum [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Period of commitments for loans extended to customers			90 days
Period of construction loans available to the borrower			1 year
Commitments to Extend Credit Under Amortizing Loans [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount	[1]	18,290,000	$ 18,290,000	13,389,000
Probable losses		0	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	[2]	13,742,000	13,742,000	13,776,000
Probable losses		0	0	0
Unused Portion of Construction Loans [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount	[3]	77,017,000	77,017,000	90,439,000
Unused Portion of Business Lines of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		19,558,000	19,558,000	14,623,000
Standby Letters of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks liability amount		1,296,000	1,296,000	885,000
Probable losses		$ 0	$ 0	$ 0
[1]	Commitments for loans are extended to customers for up to 90 days after which they expire. Excludes commitments to originate loans held for sale, which are discussed in the following footnote.
[2]	Unused portions of home equity loans are available to the borrower for up to 10 years.
[3]	Unused portions of construction loans are available to the borrower for up to one year.

Commitments, Off-Balance Shee_4

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities, Contingent Liabilities (Details)	May 06, 2020USD ($)	Dec. 08, 2017USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2011USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	May 31, 2019Claimant	May 03, 2019LoanOriginator
Loss Contingencies [Abstract]
Amount of damages awarded to plaintiff		$ 7,300,000
Attorney fees		3,300,000
Incentive fees		$ 20,000
Amount of damages to be paid								$ 14,952
Reserve for losses			$ 3,200,000	$ 3,200,000	$ 3,200,000				$ 921,000
Number of claimants | Claimant										89
Proposed settlement payment			4,250,000
Charge to earnings				3,200,000
Proposed settlement payment to company			750,000
Herrington v. Waterstone Mortgage Corporation [Member]
Loss Contingencies [Abstract]
Attorney fees	$ 1,100,000		1,100,000			$ 4,900,000
Number of assumerd per workweek hour					50 hours
Unreimbursed expenses per workweek					$ 100
Reserve for losses							$ 1,100,000
Raeleen Johnson v. Waterstone Mortgage Corporation [Member]
Loss Contingencies [Abstract]
Number of loan originators | LoanOriginator											35
Herrington, Raeleen Johnson and Arbitrations [Member]
Loss Contingencies [Abstract]
Reserve for losses			$ 4,250,000	$ 4,250,000	$ 4,250,000

Derivative Financial Instrume_3

Derivative Financial Instruments (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)Swap	Dec. 31, 2019USD ($)Swap
Forward Commitments to Sell Mortgage Loans [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	$ 896,800,000	$ 345,000,000
Gain (loss) reported as a component of other assets	445,000	3,000
Interest Rate Lock Commitments [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	636,600,000	174,300,000
Gain (loss) reported as a component of other assets	$ 12,600,000	$ 1,800,000
Interest Rate Swap [Member]
Derivative [Abstract]
Number of back-to-back swaps in default | Swap	0	0
Interest Rate Swap [Member] | Dealer Counterparties [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	$ 108,000,000	$ 30,900,000
Interest Rate Swap [Member] | Commercial Borrower [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	108,000,000	30,900,000
Interest Rate Swap [Member] | Other Assets [Member] | Commercial Borrower [Member]
Derivative [Abstract]
Derivative asset, notional amount	5,800,000	680,000
Interest Rate Swap [Member] | Other Liabilities [Member] | Dealer Counterparties [Member]
Derivative [Abstract]
Derivative Liability, Notional Amount	5,800,000	680,000
Fair Value Hedging [Member]
Derivative [Abstract]
Derivative fair value	$ 7,800,000	$ 710,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares of common stock (in shares)	124,000	110,000	123,000	110,000
Basic and Diluted Earnings Per Share Calculations [Abstract]
Net income	$ 26,293	$ 10,924	$ 53,310	$ 27,109
Weighted average shares outstanding (in shares)	24,297,000	25,772,000	24,720,000	26,168,000
Effect of dilutive potential common shares (in shares)	83,000	190,000	122,000	204,000
Diluted weighted average shares outstanding (in shares)	24,380,000	25,962,000	24,842,000	26,372,000
Basic earnings per share (in dollars per share)	$ 1.08	$ 0.42	$ 2.16	$ 1.04
Diluted earnings per share (in dollars per share)	$ 1.08	$ 0.42	$ 2.15	$ 1.03

Fair Value Measurements, Fair V

Fair Value Measurements, Fair Value of Assets and Liabilities Measured On Recurring and Nonrecurring Basis (Details) - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Available for sale securities [Abstract]
Loans held for sale		$ 385,803,000	$ 220,123,000
Recurring [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		26,100,000	34,150,000
Collateralized mortgage obligations, Government sponsored enterprise issued		59,519,000	81,754,000
Collateralized Mortgage Obligations, Private-label issued		3,650,000
Government sponsored enterprise bonds		2,499,000
Municipal securities		50,162,000	53,692,000
Other debt securities		11,271,000	8,880,000
Loans held for sale		385,803,000	220,123,000
Mortgage banking derivative assets		12,600,000	1,835,000
Interest rate swap assets		5,794,000	680,000
Mortgage banking derivatives liabilities		445,000	0
Interest rate swap liabilities		5,794,000	680,000
Recurring [Member] | Level 1 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		0	0
Collateralized mortgage obligations, Government sponsored enterprise issued		0	0
Collateralized Mortgage Obligations, Private-label issued		0
Government sponsored enterprise bonds		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	0
Mortgage banking derivatives liabilities		0	0
Interest rate swap liabilities		0	0
Recurring [Member] | Level 2 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		26,100,000	34,150,000
Collateralized mortgage obligations, Government sponsored enterprise issued		59,519,000	81,754,000
Collateralized Mortgage Obligations, Private-label issued		3,650,000
Government sponsored enterprise bonds		2,499,000
Municipal securities		50,162,000	53,692,000
Other debt securities		11,271,000	8,880,000
Loans held for sale		385,803,000	220,123,000
Mortgage banking derivative assets		0	0
Interest rate swap assets		5,794,000	680,000
Mortgage banking derivatives liabilities		0	0
Interest rate swap liabilities		5,794,000	680,000
Recurring [Member] | Level 3 [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		0	0
Collateralized mortgage obligations, Government sponsored enterprise issued		0	0
Collateralized Mortgage Obligations, Private-label issued		0
Government sponsored enterprise bonds		0
Municipal securities		0	0
Other debt securities		0	0
Loans held for sale		0	0
Mortgage banking derivative assets		12,600,000	1,835,000
Interest rate swap assets		0	0
Mortgage banking derivatives liabilities		445,000	0
Interest rate swap liabilities		0	0
Non-Recurring [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	186,000	185,000
Real estate owned		772,000	748,000
Mortgage Servicing Rights, Impaired, Valuation Allowance		235,000	206,000
Non-Recurring [Member] | Level 1 [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	0	0
Real estate owned		0	0
Mortgage Servicing Rights, Impaired, Valuation Allowance		0	0
Non-Recurring [Member] | Level 2 [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	0	0
Real estate owned		0	0
Mortgage Servicing Rights, Impaired, Valuation Allowance		0	0
Non-Recurring [Member] | Level 3 [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	186,000	185,000
Real estate owned		772,000	748,000
Mortgage Servicing Rights, Impaired, Valuation Allowance		$ 235,000	$ 206,000
[1]	Represents collateral-dependent impaired loans, net, which are included in loans.

Fair Value Measurements, Fair_2

Fair Value Measurements, Fair Value of Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Loans, impaired, outstanding balance	$ 210,000		$ 224,000
Loans, impaired, specific reserve	24,000		39,000
Real estate owned, change in fair value	0	$ 0
Impairment on Mortgage Servicing Rights	98,000		$ 77,000
Mortgage Banking Derivatives, Net [Member]
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Beginning balance	1,835,000	898,000
Mortgage derivative gain (loss), net		2,345,000
Ending balance		$ 3,243,000
Mortgage Banking Derivatives, Net [Member] | Recurring [Member]
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Mortgage derivative gain (loss), net	10,320,000
Ending balance	$ 12,155,000

Fair Value Measurements, Valuat

Fair Value Measurements, Valuation Techniques (Details) - Non-Recurring [Member]	Sep. 30, 2020USD ($)
Cost To Service [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Servicing asset	$ 76.46
Cost To Service [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Servicing asset	164.13
Cost To Service [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Servicing asset	83.17
Mortgage Banking Derivatives [Member] | Pricing Models [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 12,155,000
Mortgage Banking Derivatives [Member] | Pricing Models [Member] | Pull Through Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.120
Mortgage Banking Derivatives [Member] | Pricing Models [Member] | Pull Through Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.950
Mortgage Banking Derivatives [Member] | Pricing Models [Member] | Pull Through Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.860
Impaired Loans [Member] | Market Approach [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 186,000
Impaired Loans [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.150
Impaired Loans [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.150
Impaired Loans [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.150
Real Estate Owned [Member] | Market Approach [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 772,000
Real Estate Owned [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.130
Real Estate Owned [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.590
Real Estate Owned [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.480
Mortgage Servicing Rights [Member] | Pricing Models [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 235,000
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Prepayment Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.079
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Prepayment Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.364
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Prepayment Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.152
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Discount Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.095
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Discount Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.143
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Discount Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.100

Fair Value Measurements, Balanc

Fair Value Measurements, Balance Sheet Grouping (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Financial Assets [Abstract]
Securities available-for-sale	$ 153,201,000	$ 178,476,000
Loans held for sale	385,803,000	220,123,000
Mortgage servicing rights	9.9		$ 180,000
Financial Liabilities [Abstract]
Advance payments by borrowers for taxes	25,987,000	4,212,000
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and cash equivalents	86,562,000	74,300,000
Securities available-for-sale	153,201,000	178,476,000
Loans held for sale	385,803,000	220,123,000
Loans receivable	1,434,132,000	1,388,031,000
FHLB stock	26,720,000	21,150,000
Accrued interest receivable	5,163,000	5,344,000
Mortgage servicing rights	8,422,000	282,000
Mortgage banking derivative assets	12,600,000	1,835,000
Interest rate swap assets	5,794,000	680,000
Financial Liabilities [Abstract]
Deposits	1,184,651,000	1,067,776,000
Advance payments by borrowers for taxes	25,987,000	4,212,000
Borrowings	552,126,000	483,562,000
Accrued interest payable	1,314,000	1,559,000
Mortgage banking derivative liabilities	445,000	0
Interest rate swap liabilities	5,794,000	680,000
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	86,562,000	74,300,000
Securities available-for-sale	153,201,000	178,476,000
Loans held for sale	385,803,000	220,123,000
Loans receivable	1,448,660,000	1,426,224,000
FHLB stock	26,720,000	21,150,000
Accrued interest receivable	5,163,000	5,344,000
Mortgage servicing rights	9,926,000	282,000
Mortgage banking derivative assets	12,600,000	1,835,000
Interest rate swap assets	5,794,000	680,000
Financial Liabilities [Abstract]
Deposits	1,185,424,000	1,070,083,000
Advance payments by borrowers for taxes	25,987,000	4,212,000
Borrowings	572,521,000	483,846,000
Accrued interest payable	1,314,000	1,559,000
Mortgage banking derivative liabilities	445,000	0
Interest rate swap liabilities	5,794,000	680,000
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	86,562,000	65,800,000
Securities available-for-sale	0	0
Loans held for sale	0	0
Loans receivable	0	0
FHLB stock	0	0
Accrued interest receivable	5,163,000	5,344,000
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	0	0
Financial Liabilities [Abstract]
Deposits	440,501,000	328,005,000
Advance payments by borrowers for taxes	25,987,000	4,212,000
Borrowings	0	0
Accrued interest payable	1,314,000	1,559,000
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	0	8,500,000
Securities available-for-sale	153,201,000	178,476,000
Loans held for sale	385,803,000	220,123,000
Loans receivable	0	0
FHLB stock	26,720,000	21,150,000
Accrued interest receivable	0	0
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	5,794,000	680,000
Financial Liabilities [Abstract]
Deposits	744,923,000	742,078,000
Advance payments by borrowers for taxes	0	0
Borrowings	572,521,000	483,846,000
Accrued interest payable	0	0
Mortgage banking derivative liabilities	0	0
Interest rate swap liabilities	5,794,000	680,000
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	1,448,660,000	1,426,224,000
FHLB stock	0	0
Accrued interest receivable	0	0
Mortgage servicing rights	9,926,000	282,000
Mortgage banking derivative assets	12,600,000	1,835,000
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	445,000	0
Interest rate swap liabilities	$ 0	$ 0

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)SegmentState	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment			2
Number of states products and services are provided | State			48
Number of states the company can lend | State			48
Net Income (Loss) [Abstract]
Net interest income (loss)	$ 13,409	$ 13,154	$ 39,184	$ 39,071
Provision for loan losses	1,025	(80)	6,310	(730)
Net interest income (loss) after provision for loan losses	12,384	13,234	32,874	39,801
Noninterest income	75,763	37,494	174,131	96,941
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	39,405	27,514	100,695	75,227
Occupancy, office furniture and equipment	2,469	2,629	7,744	8,085
FDIC insurance premiums	1,336	858	3,620	2,542
Advertising	861	913	2,625	2,834
Data processing	922	1,003	3,023	2,641
Communications	339	358	994	1,039
Professional fees	4,738	954	7,647	2,438
Real estate owned	11	24	55	75
Loan processing expense	1,336	858	3,620	2,542
Other	2,920	1,979	9,495	6,055
Total noninterest expenses	53,001	36,232	135,898	100,936
Income before income taxes	35,146	14,496	71,107	35,806
Income tax expense	8,853	3,572	17,797	8,697
Net income	26,293	10,924	53,310	27,109
Total assets	2,220,822	2,005,429	2,220,822	2,005,429	$ 1,996,347
Holding Company and Other [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	6	43	62	35
Provision for loan losses	0	0	0	0
Net interest income (loss) after provision for loan losses	6	43	62	35
Noninterest income	(484)	(456)	(1,096)	(904)
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	(154)	(177)	(464)	(530)
Occupancy, office furniture and equipment	0	0	0	0
Advertising	0	0	0	0
Data processing	6	4	16	12
Communications	0	0	0	0
Professional fees	7	43	22	53
Real estate owned	0	0	0	0
Loan processing expense	0	0	0	0
Other	(342)	(329)	(670)	(475)
Total noninterest expenses	(483)	(459)	(1,096)	(940)
Income before income taxes	5	46	62	71
Income tax expense	4	6	12	19
Net income	1	40	50	52
Total assets	(356,672)	(265,971)	(356,672)	(265,971)
Operating Segments [Member] | Community Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	13,461	13,885	40,070	40,547
Provision for loan losses	1,000	(150)	6,075	(850)
Net interest income (loss) after provision for loan losses	12,461	14,035	33,995	41,397
Noninterest income	3,104	1,415	7,068	3,375
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	5,000	4,075	15,074	13,502
Occupancy, office furniture and equipment	874	942	2,754	2,858
Advertising	252	202	797	603
Data processing	490	588	1,773	1,538
Communications	113	90	301	265
Professional fees	266	223	690	651
Real estate owned	11	24	55	75
Loan processing expense	0	0	0	0
Other	818	583	1,930	1,707
Total noninterest expenses	7,824	6,727	23,374	21,199
Income before income taxes	7,741	8,723	17,689	23,573
Income tax expense	1,565	1,982	3,293	5,263
Net income	6,176	6,741	14,396	18,310
Total assets	2,118,968	1,969,835	2,118,968	1,969,835
Operating Segments [Member] | Mortgage Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	(58)	(774)	(948)	(1,511)
Provision for loan losses	25	70	235	120
Net interest income (loss) after provision for loan losses	(83)	(844)	(1,183)	(1,631)
Noninterest income	73,143	36,535	168,159	94,470
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	34,559	23,616	86,085	62,255
Occupancy, office furniture and equipment	1,595	1,687	4,990	5,227
Advertising	609	711	1,828	2,231
Data processing	426	411	1,234	1,091
Communications	226	268	693	774
Professional fees	4,465	688	6,935	1,734
Real estate owned	0	0	0	0
Loan processing expense	1,336	858	3,620	2,542
Other	2,444	1,725	8,235	4,823
Total noninterest expenses	45,660	29,964	113,620	80,677
Income before income taxes	27,400	5,727	53,356	12,162
Income tax expense	7,284	1,584	14,492	3,415
Net income	20,116	4,143	38,864	8,747
Total assets	$ 458,526	$ 301,565	$ 458,526	$ 301,565

Leases (Details)

Leases (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)Location	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Location	Sep. 30, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Leases [Abstract]
Number of branch locations | Location	2		2
Components of Lease Expense [Abstract]
Operating lease cost	$ 786,000	$ 809,000	$ 2,380,000	$ 2,371,000
Variable cost	134,000	111,000	374,000	527,000
Short-term lease cost	184,000	230,000	563,000	757,000
Total	1,104,000	$ 1,150,000	3,317,000	$ 3,655,000
Other Information Related to Operating Leases [Abstract]
Operating cash flows from operating leases			2,689,000
Right-of-use assets	$ 6,500,000		$ 6,500,000
Weighted average remaining lease term - operating leases, in years	2 years 8 months 12 days		2 years 8 months 12 days
Weighted average discount rate - operating leases	5.30%		5.30%
Operating Lease Liabilities, Payments Due [Abstract]
One year or less	$ 2,930,000		$ 2,930,000
More than one year through two years	1,988,000		1,988,000
More than two years through three years	1,511,000		1,511,000
More than three years through four years	715,000		715,000
More than four years through five years	92,000		92,000
More than five years	918,000		918,000
Total lease payments	8,154,000		8,154,000
Present value discount	(1,182,000)		(1,182,000)
Lease liability	6,972,000		6,972,000
ASC Topic 842 [Member]
Other Information Related to Operating Leases [Abstract]
Right-of-use assets						$ 474,000
Initial recognition of lease liabilities						$ 474,000
Plan [Member]
Other Information Related to Operating Leases [Abstract]
Right-of-use assets					$ 578,000
Operating Lease Liabilities, Payments Due [Abstract]
Lease liability	$ 7,000,000		$ 7,000,000		$ 578,000