Waterstone Financial (WSBF) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 29, 2021
Cover page.
Entity Registrant Name	Waterstone Financial, Inc.
Entity Central Index Key	0001569994
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-36271
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	90-1026709
Entity Address, Address Line One	11200 W. Plank Court
Entity Address, City or Town	Wauwatosa
Entity Address, State or Province	WI
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,232,284

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash	$ 160,144	$ 56,190
Federal funds sold	19,029	18,847
Interest-earning deposits in other financial institutions and other short term investments	19,228	19,730
Cash and cash equivalents	198,401	94,767
Securities available for sale (at fair value)	162,263	159,619
Loans held for sale (at fair value)	341,293	402,003
Loans receivable	1,335,423	1,375,137
Less: Allowance for loan losses	17,780	18,823
Loans receivable, net	1,317,643	1,356,314
Office properties and equipment, net	23,402	23,722
Federal Home Loan Bank stock (at cost)	26,720	26,720
Cash surrender value of life insurance	63,874	63,573
Real estate owned, net	150	322
Prepaid expenses and other assets	64,265	57,547
Total assets	2,198,011	2,184,587
Liabilities:
Demand deposits	194,978	188,225
Money market and savings deposits	318,959	295,317
Time deposits	705,754	701,328
Total deposits	1,219,691	1,184,870
Borrowings	490,505	508,074
Advance payments by borrowers for taxes	12,048	3,522
Other liabilities	45,086	75,003
Total liabilities	1,767,330	1,771,469
Shareholders' equity:
Preferred stock (par value $.01 per share) Authorized - 50,000,000 shares at March 31, 2021 and at December 31, 2020, no shares issued	0	0
Common stock (par value $.01 per share) Authorized - 100,000,000 shares at March 31, 2021 and at December 31, 2020, Issued - 29,230,284 at March 31, 2021 and 25,087,976 at December 31, 2020, Outstanding - 25,230,284 at March 31, 2021 and 25,087,976 at December 31, 2020	252	251
Additional paid-in capital	182,533	180,684
Retained earnings	261,859	245,287
Unearned ESOP shares	(15,133)	(15,430)
Accumulated other comprehensive income, net of taxes	1,170	2,326
Total shareholders' equity	430,681	413,118
Total liabilities and shareholders' equity	$ 2,198,011	$ 2,184,587

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
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)	25,230,284	25,087,976
Common stock - shares outstanding (in shares)	25,230,284	25,087,976

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest income:
Loans	$ 16,603	$ 17,687
Mortgage-related securities	491	702
Debt securities, federal funds sold and short-term investments	875	1,063
Total interest income	17,969	19,452
Interest expense:
Deposits	1,517	4,318
Borrowings	2,500	2,608
Total interest expense	4,017	6,926
Net interest income	13,952	12,526
Provision for loan losses	(1,070)	785
Net interest income after provision (credit) for loan losses	15,022	11,741
Noninterest income:
Service charges on loans and deposits	690	481
Increase in cash surrender value of life insurance	301	353
Mortgage banking income	54,391	30,406
Other	817	224
Total noninterest income	56,199	31,464
Noninterest expenses:
Compensation, payroll taxes, and other employee benefits	34,123	24,401
Occupancy, office furniture and equipment	2,565	2,741
Advertising	824	900
Data processing	971	1,006
Communications	331	338
Professional fees		1,832
Professional fees	(315)
Real estate owned	(12)	11
Loan processing expense	1,335	1,076
Other	3,178	2,903
Total noninterest expenses	43,000	35,208
Income before income taxes	28,221	7,997
Income tax expense	6,877	1,928
Net income	$ 21,344	$ 6,069
Income per share:
Basic (in dollars per share)	$ 0.90	$ 0.24
Diluted (in dollars per share)	$ 0.89	$ 0.24
Weighted average shares outstanding:
Basic (in shares)	23,735	25,405
Diluted (in shares)	23,950	25,612

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 21,344	$ 6,069
Net unrealized holding (loss) gains on available for sale securities:
Net unrealized holding (loss) gains arising during the period, net of tax benefit (expense) of $432 and $(319), respectively	(1,156)	850
Total other comprehensive income (loss)	(1,156)	850
Comprehensive income	$ 20,188	$ 6,919

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other comprehensive income (loss), net of tax
Net unrealized holding gain (loss) on available for sale securities arising during the period, net of tax (expense) benefit	$ 432	$ (319)

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, 2019	$ 271	$ 211,997	$ 197,393	$ (16,617)	$ 642	$ 393,686
Balances (in shares) at Dec. 31, 2019	27,148,000
Comprehensive income:
Net income	$ 0	0	6,069	0	0	6,069
Other comprehensive income (loss)	0	0	0	0	850	850
Total comprehensive income						6,919
ESOP shares committed to be released to Plan participants	0	152	0	297	0	449
Cash dividend declared	0	0	(15,650)	0	0	(15,650)
Stock compensation activity	$ 1	452	0	0	0	453
Stock compensation activity (in shares)	39,000
Stock compensation expense	$ 0	214	0	0	0	214
Purchase of common stock returned to authorized but unissued	$ (9)	(14,236)	0	0	0	(14,245)
Purchase of common stock returned to authorized but unissued (in shares)	(912,000)
Balances at Mar. 31, 2020	$ 263	198,579	187,812	(16,320)	1,492	371,826
Balances (in shares) at Mar. 31, 2020	26,275,000
Balances at Dec. 31, 2020	$ 251	180,684	245,287	(15,430)	2,326	$ 413,118
Balances (in shares) at Dec. 31, 2020	25,088,000					25,087,976
Comprehensive income:
Net income	$ 0	0	21,344	0	0	$ 21,344
Other comprehensive income (loss)	0	0	0	0	(1,156)	(1,156)
Total comprehensive income						20,188
ESOP shares committed to be released to Plan participants	0	223	0	297	0	520
Cash dividend declared	0	0	(4,772)	0	0	(4,772)
Stock compensation activity	$ 1	1,458	0	0	0	1,459
Stock compensation activity (in shares)	142,000
Stock compensation expense	$ 0	175	0	0	0	175
Purchase of common stock returned to authorized but unissued	$ 0	(7)	0	0	0	(7)
Purchase of common stock returned to authorized but unissued (in shares)	0
Balances at Mar. 31, 2021	$ 252	$ 182,533	$ 261,859	$ (15,133)	$ 1,170	$ 430,681
Balances (in shares) at Mar. 31, 2021	25,230,000					25,230,284

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) [Abstract]
Cash dividends (in dollars per share)	$ 0.20	$ 0.62

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities:
Net income	$ 21,344	$ 6,069
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision (credit) for loan losses	(1,070)	785
Depreciation, amortization, accretion	1,749	1,257
Deferred taxes	2,059	40
Stock based compensation	175	214
Origination of mortgage servicing rights	(3,516)	(58)
Gain on sale of loans held for sale	(53,708)	(31,837)
Loans originated for sale	(1,109,074)	(687,694)
Proceeds on sales of loans originated for sale	1,223,492	676,918
Decrease (increase) in accrued interest receivable	33	(147)
Increase in cash surrender value of life insurance	(301)	(353)
Increase in derivative assets	(544)	(6,571)
Decrease in accrued interest on deposits and borrowings	(102)	(38)
(Increase) decrease in prepaid tax expense	(463)	96
Legal settlement	(4,250)	0
(Decrease) increase in derivative liabilities	(5,140)	9,465
Net gain related to real estate owned	(11)	(5)
Change in other assets and other liabilities, net	(11,282)	(5,804)
Net cash provided by (used in) operating activities	59,391	(37,663)
Investing activities:
Net decrease (increase) in loans receivable	39,742	(21,293)
Net change on FHLB stock	0	(1,800)
Purchases of:
Mortgage related securities	(16,153)	(686)
Debt securities	0	(2,500)
Premises and equipment, net	(268)	(241)
Proceeds from:
Principal repayments on mortgage-related securities	11,022	9,729
Maturities of debt securities	885	1,555
Sales of real estate owned	183	59
Net cash provided by (used in) investing activities	35,411	(15,177)
Financing activities:
Net increase in deposits	34,821	18,292
Net change in short term borrowings	(17,569)	38,618
Net decrease in advance payments by borrowers for taxes	(5,025)	(3,040)
Cash dividends on common stock	(4,847)	(2,414)
Purchase of common stock returned to authorized but unissued	(7)	(14,245)
Proceeds from stock option exercises	1,459	453
Net cash provided by financing activities	8,832	37,664
Increase (decrease) in cash and cash equivalents	103,634	(15,176)
Cash and cash equivalents at beginning of year	94,767	74,300
Cash and cash equivalents at end of year	198,401	59,124
Cash paid or credited during the period for:
Income tax payments	5,281	1,791
Interest payments	4,119	6,964
Noncash investing activities:
Loans receivable transferred to real estate owned	0	0
Dividends declared but not paid in other liabilities	$ 5,157	$ 16,737

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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 14 banking offices located in Milwaukee, Washington and Waukesha Counties, Wisconsin. 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, 2020 Annual Report on Form 10-K. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 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 three months 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 reclassed certain line items in the Consolidated Statements of Cash Flows. 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 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. On December 27, 2020, the 2021 Consolidated Appropriations Act was signed into law. The legislation extended the delay of the adoption of ASC Topic 326 allowed under the CARES Act until the earlier of the termination date of the national emergency declaration by the President or January 1, 2022. 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. 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 three months ended March 31, 2021, 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	3 Months Ended
	Mar. 31, 2021
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: March 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 23,862 $ 868 $ (152 ) $ 24,578 Collateralized mortgage obligations: Government sponsored enterprise issued 67,447 1,428 (460 ) 68,415 Private -label issued 3,081 49 - 3,130 Mortgage-related securities 94,390 2,345 (612 ) 96,123 Government sponsored enterprise bonds 2,500 - (32 ) 2,468 Municipal securities 50,574 1,683 (16 ) 52,241 Other debt securities 12,500 24 (1,093 ) 11,431 Debt securities 65,574 1,707 (1,141 ) 66,140 $ 159,964 $ 4,052 $ (1,753 ) $ 162,263 December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 24,005 $ 1,110 $ (15 ) $ 25,100 Collateralized mortgage obligations: Government sponsored enterprise issued 61,604 1,693 (13 ) 63,284 Private label issued 3,611 54 - 3,665 Mortgage-related securities 89,220 2,857 (28 ) 92,049 Government sponsered enterprise bonds 2,500 3 - 2,503 Municipal securities 51,512 2,102 - 53,614 Other debt securities 12,500 46 (1,093 ) 11,453 Debt securities 66,512 2,151 (1,093 ) 67,570 $ 155,732 $ 5,008 $ (1,121 ) $ 159,619 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 March 31, 2021, $687,000 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 March 31, 2021 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 $ 9,390 $ 9,456 Due after one year through five years 33,922 34,913 Due after five years through ten years 17,143 16,649 Due after ten years 5,119 5,122 Mortgage-related securities 94,390 96,123 $ 159,964 $ 162,263 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: March 31, 2021 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 $ 4,308 $ (152 ) $ - $ - $ 4,308 $ (152 ) Collateralized mortgage obligations: Government sponsored enterprise issued 19,956 (460 ) - - 19,956 (460 ) Government sponsored enterprise bonds 2,468 (32 ) - - 2,468 (32 ) Municipal securities 3,171 (16 ) - - 3,171 (16 ) Other debt securities - - 8,907 (1,093 ) 8,907 (1,093 ) $ 29,903 $ (660 ) $ 8,907 $ (1,093 ) $ 38,810 $ (1,753 ) December 31, 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 $ 2,089 $ (15 ) $ - $ - $ 2,089 $ (15 ) Collateralized mortgage obligations: Government sponsored enterprise issued 4,880 (13 ) - - 4,880 (13 ) Municipal securities - - - - - - Other debt securities - - 8,907 (1,093 ) 8,907 (1,093 ) $ 6,969 $ (28 ) $ 8,907 $ (1,093 ) $ 15,876 $ (1,121 ) 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 March 31, 2021, 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 March 31, 2021, this security had an amortized cost of $116,000 and total life-to-date impairment of $94,000. As of March 31, 2021, the Company had one corporate debt security, included in other debt securities, which had been in an unrealized loss position for twelve months or longer. The security was determined not to be other-than-temporarily impaired as of March 31, 2021. The Company has determined that the decline in fair value of these securities is not attributable to credit deterioration, and as the Company does not intend to sell nor is it more likely than not that it will be required to sell these securities before recovery of the amortized cost basis, this security is not considered other-than-temporarily impaired. During the three months ended March 31, 2021 and March 31, 2020, there were no sales of securities.

Loans Receivable

Loans Receivable	3 Months Ended
	Mar. 31, 2021
Loans Receivable [Abstract]
Loans Receivable	Note 3 - Loans Receivable Loans receivable at March 31, 2021 and December 31, 2020 are summarized as follows: March 31, 2021 December 31, 2020 (In Thousands) Mortgage loans: Residential real estate: One- to four-family $ 401,170 $ 426,792 Multi-family 572,165 571,948 Home equity 14,673 14,820 Construction and land 57,123 77,080 Commercial real estate 241,790 238,375 Consumer 698 736 Commercial loans 47,804 45,386 $ 1,335,423 $ 1,375,137 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 $1.01 billion and $1.07 billion at March 31, 2021 and December 31, 2020, respectively, were pledged as collateral against $474.0 million and $499.0 million in outstanding Federal Home Loan Bank of Chicago ("FHLB") advances under a blanket security agreement at March 31, 2021 and December 31, 2020. 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 $7.0 million as of March 31, 2021 and $7.2 million as of December 31, 2020. None of these loans were past due or considered impaired as of March 31, 2021 or December 31, 2020. As of March 31, 2021, there were no loans 90 or more days past due and still accruing interest. As of December 31, 2020, there was a $586,000 loan that was 90 or more days past due and still accruing interest. The Bank received full payoff of the loan subsequent to December 31, 2020. An analysis of past due loans receivable as of March 31, 2021 and December 31, 2020 follows: As of March 31, 2021 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 $ 4,170 $ - $ 2,159 $ 6,329 $ 394,841 $ 401,170 Multi-family - - 314 314 571,851 572,165 Home equity 36 - 30 66 14,607 14,673 Construction and land - - 43 43 57,080 57,123 Commercial real estate - - 30 30 241,760 241,790 Consumer - - - - 698 698 Commercial loans 140 - - 140 47,664 47,804 Total $ 4,346 $ - $ 2,576 $ 6,922 $ 1,328,501 $ 1,335,423 As of December 31, 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 $ 3,796 $ 142 $ 3,530 $ 7,468 $ 419,324 $ 426,792 Multi-family - - 314 314 571,634 571,948 Home equity - - 30 30 14,790 14,820 Construction and land - - 43 43 77,037 77,080 Commercial real estate - - 41 41 238,334 238,375 Consumer - - - - 736 736 Commercial loans - - - - 45,386 45,386 Total $ 3,796 $ 142 $ 3,958 $ 7,896 $ 1,367,241 $ 1,375,137 (1) (2) (3) A summary of the activity for the three months ended March 31, 2021 and 2020 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 March 31, 2021 Balance at beginning of period $ 5,459 $ 5,600 $ 194 $ 1,755 $ 5,138 $ 35 $ 642 $ 18,823 Provision (credit) for loan losses (862 ) 421 (15 ) (505 ) (123 ) (2 ) 16 (1,070 ) Charge-offs (14 ) - - - - - - (14 ) Recoveries 11 23 4 1 2 - - 41 Balance at end of period $ 4,594 $ 6,044 $ 183 $ 1,251 $ 5,017 $ 33 $ 658 $ 17,780 Three months ended March 31, 2020 Balance at beginning of period $ 4,907 $ 4,138 $ 201 $ 610 $ 2,145 $ 14 $ 372 $ 12,387 Provision (credit) for loan losses (234 ) 160 32 76 654 10 87 785 Charge-offs (6 ) - - - - (1 ) - (7 ) Recoveries 47 3 6 1 4 - - 61 Balance at end of period $ 4,714 $ 4,301 $ 239 $ 687 $ 2,803 $ 23 $ 459 $ 13,226 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of March 31, 2021 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 $ 21 $ - $ - $ - $ - $ - $ - $ 21 Allowance related to loans collectively evaluated for impairment 4,573 6,044 183 1,251 5,017 33 658 17,759 Balance at end of period $ 4,594 $ 6,044 $ 183 $ 1,251 $ 5,017 $ 33 $ 658 $ 17,780 Loans individually evaluated for impairment $ 6,462 $ 314 $ 59 $ 43 $ 6,964 $ - $ 1,097 $ 14,939 Loans collectively evaluated for impairment 394,708 571,851 14,614 57,080 234,826 698 46,707 1,320,484 Total gross loans $ 401,170 $ 572,165 $ 14,673 $ 57,123 $ 241,790 $ 698 $ 47,804 $ 1,335,423 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of December 31, 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 $ 23 $ - $ - $ - $ - $ - $ - $ 23 Allowance related to loans collectively evaluated for impairment 5,436 5,600 194 1,755 5,138 35 642 18,800 Balance at end of period $ 5,459 $ 5,600 $ 194 $ 1,755 $ 5,138 $ 35 $ 642 $ 18,823 Loans individually evaluated for impairment $ 7,805 $ 341 $ 63 $ 43 $ 7,248 $ - $ 1,097 $ 16,597 Loans collectively evaluated for impairment 418,987 571,607 14,757 77,037 231,127 736 44,289 1,358,540 Total gross loans $ 426,792 $ 571,948 $ 14,820 $ 77,080 $ 238,375 $ 736 $ 45,386 $ 1,375,137 The following table presents information relating to the Company’s internal risk ratings of its loans receivable as of March 31, 2021 and December 31, 2020: One to Four- Family Multi-Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) At March 31, 2021 Substandard $ 6,462 $ 314 $ 242 $ 43 $ 6,964 $ - $ 1,796 $ 15,821 Watch 6,164 272 83 4,269 5,585 - 3,127 19,500 Pass 388,544 571,579 14,348 52,811 229,241 698 42,881 1,300,102 $ 401,170 $ 572,165 $ 14,673 $ 57,123 $ 241,790 $ 698 $ 47,804 $ 1,335,423 At December 31, 2020 Substandard $ 7,804 $ 341 $ 248 $ 43 $ 6,026 $ - $ 710 $ 15,172 Watch 7,667 275 15 4,282 6,714 - 4,101 23,054 Pass 411,321 571,332 14,557 72,755 225,635 736 40,575 1,336,911 $ 426,792 $ 571,948 $ 14,820 $ 77,080 $ 238,375 $ 736 $ 45,386 $ 1,375,137 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 March 31, 2021 and December 31, 2020. As of March 31, 2021 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 206 $ 206 $ 21 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - - - Consumer - - - - Commercial - - - - 206 206 21 - Total Impaired with no Reserve One- to four-family 6,256 7,019 - 763 Multi-family 314 314 - - Home equity 59 59 - - Construction and land 43 51 - 8 Commercial real estate 6,964 6,964 - - Consumer - - - - Commercial 1,097 1,097 - - 14,733 15,504 - 771 Total Impaired One- to four-family 6,462 7,225 21 763 Multi-family 314 314 - - Home equity 59 59 - - Construction and land 43 51 - 8 Commercial real estate 6,964 6,964 - - Consumer - - - - Commercial 1,097 1,097 - - $ 14,939 $ 15,710 $ 21 $ 771 As of December 31, 2020 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 208 $ 208 $ 23 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - - - Consumer - - - - Commercial - - - - 208 208 23 - Total Impaired with no Reserve One- to four-family 7,597 8,444 - 847 Multi-family 341 352 - 11 Home equity 63 63 - - Construction and land 43 51 - 8 Commercial real estate 7,248 7,248 - - Consumer - - - - Commercial 1,097 1,097 - - 16,389 17,255 - 866 Total Impaired One- to four-family 7,805 8,652 23 847 Multi-family 341 352 - 11 Home equity 63 63 - - Construction and land 43 51 - 8 Commercial real estate 7,248 7,248 - - Consumer - - - - Commercial 1,097 1,097 - - $ 16,597 $ 17,463 $ 23 $ 866 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 three months ended March 31, 2021 and 2020. Three months ended March 31, 2021 2020 Average Recorded Investment Interest Paid Average Recorded Investment Interest Paid (In Thousands) Total Impaired with Reserve One- to four-family $ 207 $ 4 $ 216 $ 4 Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - 5 10 Consumer - - - - Commercial - - - - 207 4 221 14 Total Impaired with no Reserve One- to four-family 6,294 79 8,265 98 Multi-family 314 - 656 17 Home equity 60 1 388 4 Construction and land 43 - - - Commercial real estate 6,967 78 349 4 Consumer - - - - Commercial 1,097 12 - - 14,775 170 9,658 123 Total Impaired One- to four-family 6,501 83 8,481 102 Multi-family 314 - 656 17 Home equity 60 1 388 4 Construction and land 43 - - - Commercial real estate 6,967 78 354 14 Consumer - - - - Commercial 1,097 12 - - $ 14,982 $ 174 $ 9,879 $ 137 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 $14.7 million of impaired loans as of March 31, 2021 for which no allowance has been provided, $771,000 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 March 31, 2021, total impaired loans included $11.8 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, 2020, total impaired loans included $11.6 million of troubled debt restructurings. The following presents data on troubled debt restructurings: As of March 31, 2021 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,728 2 $ 1,088 4 $ 3,816 6 Commercial real estate 6,934 2 - - 6,934 2 Commercial 1,097 1 - - 1,097 1 $ 10,759 5 $ 1,088 4 $ 11,847 9 As of December 31, 2020 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,733 2 $ 532 3 $ 3,265 5 Commercial real estate 7,207 3 - - 7,207 3 Commercial 1,097 1 - - 1,097 1 $ 11,037 6 $ 532 3 $ 11,569 9 At March 31, 2021, $11.8 million in loans had been modified in troubled debt restructurings and $1.1 million of these loans were included in the non-accrual loan total. The remaining $10.8 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 March 31, 2021 with respect to the $11.8 million in troubled debt restructurings. As of December 31, 2020, no valuation allowance had been established with respect to the $11.6 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 March 31, 2021 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,206 4 $ - - $ 3,206 4 Interest reduction 27 1 - - 27 1 Principal forbearance 8,614 4 - - 8,614 4 $ 11,847 9 $ - - $ 11,847 9 As of December 31, 2020 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,236 4 $ - - $ 3,236 4 Interest reduction 302 2 - - 302 2 Principal forebearance 8,031 3 - - 8,031 3 $ 11,569 9 $ - - $ 11,569 9 There was one one- to four-family loan modified as troubled debt restructurings with a balance of $583,000 during the three months ended March 31, 2021. There were no loans modified as troubled debt restructurings during the three months ended March 31, 2020. There were no troubled debt restructurings within the past twelve months for which there was a default during the three months ended March 31, 2021 or March 31, 2020. 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 March 31, 2021, the Company had approximately $ in outstanding loans subject to principal deferral agreements. The following table presents data on non-accrual loans as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (Dollars in Thousands) Non-accrual loans: Residential real estate: One- to four-family $ 3,734 $ 5,072 Multi-family 314 341 Home equity 59 63 Construction and land 43 43 Commercial real estate 30 41 Commercial - - Consumer - - Total non-accrual loans $ 4,180 $ 5,560 Total non-accrual loans to total loans receivable 0.31 % 0.40 % Total non-accrual loans to total assets 0.19 % 0.25 %

Real Estate Owned

Real Estate Owned	3 Months Ended
	Mar. 31, 2021
Real Estate Owned [Abstract]
Real Estate Owned	Note 4— Real Estate Owned Real estate owned is summarized as follows: March 31, 2021 December 31, 2020 (In Thousands) One- to four-family $ - $ - Multi-family - - Construction and land 150 322 Commercial real estate - - Total real estate owned 150 322 The following table presents the activity in the Company’s real estate owned: Three months ended March 31, 2021 2020 (In Thousands) Real estate owned at beginning of the period $ 322 $ 748 Transferred from loans receivable - - Sales (net of gains / losses) (172 ) (46 ) Write downs - - Other - - Real estate owned at the end of the period $ 150 $ 702 Residential one- to four-family mortgage loans that were in the process of foreclosure were $2.3 million at March 31, 2021 and $1.7 million at December 31, 2020.

Mortgage Servicing Rights

Mortgage Servicing Rights	3 Months Ended
	Mar. 31, 2021
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: Three months ended March 31, 2021 2020 (In Thousands) Mortgage servicing rights at beginning of the period $ 5,977 $ 282 Additions 3,516 58 Amortization (663 ) (51 ) Sales - - Mortgage servicing rights at end of the period 8,830 289 Valuation allowance during the period - (53 ) Mortgage servicing rights at end of the period, net $ 8,830 $ 236 During the three months ended March 31, 2021, $1.11 billion in residential loans were originated for sale on a consolidated basis. During the same period, sales of loans held for sale totaled $1.22 billion, generating mortgage banking income of $54.4 million. The unpaid principal balance of loans serviced for others was $1.26 billion and $871.8 million at March 31, 2021 and December 31, 2020, respectively. These loans are not reflected in the consolidated statements of financial condition. The fair value of mortgage servicing rights were $13.0 million at March 31, 2021 and $236,000 at March 31, 2020. During the three months ended March 31, 2021 and March 31, 2020, 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: (In Thousands) Estimate for the period ended December 31: 2021 $ 1,132 2022 1,400 2023 1,216 2024 1,108 Thereafter 3,974 Total 8,830

Deposits

Deposits	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Deposits	Note 6— Deposits At March 31, 2021 and December 31, 2020, time deposits with aggregate balances greater than $250,000 amounted to $114.4 million and $102.6 million, respectively. A summary of the contractual maturities of time deposits at March 31, 2021 is as follows: (In Thousands) Within one year $ 594,237 More than one to two years 99,840 More than two to three years 9,718 More than three to four years 886 More than four through five years 1,073 $ 705,754

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2021
Borrowings [Abstract]
Borrowings	Note 7— Borrowings Borrowings consist of the following: March 31, 2021 December 31, 2020 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreement $ 16,505 3.25 % $ 9,074 3.25 % Federal Home Loan Bank, Chicago 4,000 0.00 % 29,000 0.22 % 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 % $ 490,505 2.06 % $ 508,074 1.95 % The short-term repurchase agreement represents the outstanding portion of a total $35.0 million commitment with one unrelated bank. The short-term repurchase agreement is utilized by Waterstone Mortgage Corporation to finance loans originated for sale. This agreement is secured by the underlying loans being financed. Related interest rates are based upon the note rate associated with the loans being financed. The short-term repurchase agreement had a $16.5 million balance at March 31, 2021 and a $9.1 million balance at December 31, 2020. 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 FHLB short-term advance consists of 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 March 31, 2021 and at December 31, 2020, respectively. In the event of prepayment, the Company is obligated to pay all remaining contractual interest on the advance.

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2021
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%. 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 of 2020 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 March 31, 2021, 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 March 31, 2021 and December 31, 2020 are presented in the table below: March 31, 2021 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. $ 446,657 27.07 % $ 131,977 8.00 % $ 173,220 10.50 % $ N/A N/A WaterStone Bank 396,096 24.01 % 131,977 8.00 % 173,220 10.50 % 164,971 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 428,877 26.00 % 98,983 6.00 % 140,226 8.50 % N/A N/A WaterStone Bank 378,316 22.93 % 98,983 6.00 % 140,226 8.50 % 131,977 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 428,877 26.00 % 74,237 4.50 % 115,480 7.00 % N/A N/A WaterStone Bank 378,316 22.93 % 74,237 4.50 % 115,480 7.00 % 107,231 6.50 % Tier 1 Capital (to average assets) Consolidated Waterstone Financial, Inc. 428,877 19.77 % 86,752 4.00 % N/A N/A N/A N/A WaterStone Bank 378,316 17.44 % 86,752 4.00 % N/A N/A 108,440 5.00 % State of Wisconsin (to total assets) WaterStone Bank 378,316 17.24 % 131,644 6.00 % N/A N/A N/A N/A December 31, 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. $ 428,972 24.80 % $ 138,390 8.00 % $ 181,637 10.50 % $ N/A N/A WaterStone Bank 389,519 22.52 % 138,346 8.00 % 181,579 10.50 % 172,933 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 410,149 23.71 % 103,792 6.00 % 147,039 8.50 % N/A N/A WaterStone Bank 370,696 21.44 % 103,760 6.00 % 146,993 8.50 % 138,346 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 410,149 23.71 % 77,844 4.50 % 121,091 7.00 % N/A N/A WaterStone Bank 370,696 21.44 % 77,820 4.50 % 121,053 7.00 % 112,406 6.50 % Tier 1 Capital (to average assets) Consolidated Waterstone Financial, Inc. 410,149 18.38 % 89,238 4.00 % N/A N/A N/A N/A WaterStone Bank 370,696 16.61 % 89,263 4.00 % N/A N/A 111,579 5.00 % State of Wisconsin (to total assets) WaterStone Bank 370,696 16.62 % 133,856 6.00 % N/A N/A N/A N/A

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Taxes [Abstract]
Income Taxes	Note 9 – Income Taxes Income tax expense totaled $6.9 million for the three months ended March 31, 2021 compared to $1.9 million during the three months ended March 31, 2020. Income tax expense was recognized on the statement of income during the three months ended March 31, 2021 at an effective rate of 24.4% of pretax income compared to 24.1% during the three months ended March 31, 2020.

Commitments, Off-Balance Sheet

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities	3 Months Ended
	Mar. 31, 2021
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. March 31, 2021 December 31, 2020 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under amortizing loans (1) $ 20,302 $ 23,891 Commitments to extend credit under home equity lines of credit (2) 12,767 13,653 Unused portion of construction loans (3) 65,790 74,173 Unused portion of business lines of credit 18,221 19,207 Standby letters of credit 1,246 1,296 (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 March 31, 2021 and December 31, 2020. 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 $2.5 million and $2.9 million as of March 31, 2021 and December 31, 2020, 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.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of approximately $754.0 million and interest rate lock commitments with an aggregate notional amount of approximately $518.1 million. The fair value of the forward commitments to sell mortgage loans at March 31, 2021 included a gain of $6.6 million 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 March 31, 2021 included a gain of $5.0 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. At December 31, 2020, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $779.9 million and interest rate lock commitments with an aggregate notional amount of approximately $486.2 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2020 included a loss of $5.1 million that is reported as a component of other liabilities on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2020 included a gain of $11.1 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 $106.9 million at March 31, 2021 and $107.5 million at December 31, 2020. 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 $2.8 million as of March 31, 2021 and $3.9 million as of December 31, 2020. As of March 31, 2021 and December 31, 2020, no back-to-back swaps were in default. The aggregate amortizing notional value of back-to-back swaps with dealer counterparties was $106.9 million as of March 31, 2021 and $107.5 million as of December 31, 2020. 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 $2.8 million as of March 31, 2021 and $3.9 million as of December 31, 2020. No right of offset existed with dealer counterparty swaps as of March 31, 2021 and December 31, 2020. All changes in the fair value of these instruments are recorded in other non-interest income. The Company pledged no mortgage backed securities to secure its obligation under these contracts at March 31, 2021 and $7.2 million in mortgage backed securities at December 31, 2020.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
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 . Presented below are the calculations for basic and diluted earnings per share: Three months ended March 31, 2021 2020 Net income $ 21,344 6,069 Weighted average shares outstanding 23,735 25,405 Effect of dilutive potential common shares 215 207 Diluted weighted average shares outstanding 23,950 25,612 Basic earnings per share $ 0.90 0.24 Diluted earnings per share $ 0.89 0.24

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using March 31, 2021 Level 1 Level 2 Level 3 (In Thousands) Assets Available-for-sale securities Mortgage-backed securities $ 24,578 $ - $ 24,578 $ - Collateralized mortgage obligations Government sponsored enterprise issued 68,415 - 68,415 - Private-label issued 3,130 - 3,130 - Government sponsored enterprise bonds 2,468 - 2,468 - Municipal securities 52,241 - 52,241 - Other debt securities 11,431 - 11,431 - Loans held for sale 341,293 - 341,293 - Mortgage banking derivative assets 11,601 - - 11,601 Interest rate swap assets 2,816 - 2,816 - Liabilities Mortgage banking derivative liabilities - - - - Interest rate swap liabilities 2,816 - 2,816 - Fair Value Measurements Using December 31, 2020 Level 1 Level 2 Level 3 (In Thousands) Assets Available-for-sale securities Mortgage-backed securities $ 25,100 $ - $ 25,100 $ - Collateralized mortgage obligations Government sponsored enterpris issued 63,284 - 63,284 - Private-label 3,665 - 3,665 - Government sponsored enterprise issued 2,503 - 2,503 - Municipal securities 53,614 - 53,614 - Other debt securities 11,453 - 11,453 - Loans held for sale 402,003 - 402,003 - Mortgage banking derivative assets 11,057 - - 11,057 Interest rate swap assets 3,892 - 3,892 - Liabilities Mortgage banking derivative liabilities 5,140 - - 5,140 Interest rate swap liabilities 3,892 - 3,892 - 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 2021 and 2020. Three months ended March 31, 2021 2020 (In Thousands) Mortgage derivative, net balance at the beginning of the period $ 5,917 $ 1835 Mortgage derivative gain, net 5,684 (3,282 ) Mortgage derivative, net balance at the end of the period $ 11,601 $ (1,447 ) 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 March 31, 2021 and December 31, 2020, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using March 31, 2021 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 185 $ - $ - $ 185 Real estate owned 150 - - 150 Impaired mortgage servicing rights 189 - - 189 Fair Value Measurements Using December 31, 2020 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 185 $ - $ - $ 185 Real estate owned 322 - - 322 Impaired mortgage servicing rights 189 - - 189 (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 March 31, 2021, loans determined to be impaired with an outstanding balance of $206,000 were carried net of specific reserves of $21,000 for a fair value of $185,000. At December 31, 2020, loans determined to be impaired with an outstanding balance of $208,000 were carried net of specific reserves of $23,000 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 three months ended March 31, 2021 and 2020, respectively. At March 31, 2021 and December 31, 2020, real estate owned totaled $150,000 and $322,000, 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 $ , respectively, of impairment on mortgage servicing rights. For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of March 31, 2021, the significant unobservable inputs used in the fair value measurements were as follows: Significant Unobservable Input Value Fair Value at March 31, 2021 Valuation Technique Significant Unobservable Inputs Minimum Value Maximum Value Weighted Average Mortgage banking derivatives, net $ 11,601 Pricing models Pull through rate 18.0 % 99.8 % 91.4 % Impaired loans 206 Market approach Discount rates applied to appraisals 15.0 % 15.0 % 15.0 % Real estate owned 150 Market approach Discount rates applied to appraisals 34.8 % 34.8 % 34.8 % Mortgage servicing rights 12,972 Pricing models Prepayment rate 8.1 % 33.7 % 9.2 % Discount rate 8.1 % 12.0 % 9.6 % Cost to service $ 77.01 $ 839.34 $ 82.92 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: March 31, 2021 December 31, 2020 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 $ 198,401 $ 198,401 $ 198,401 $ - $ - $ 94,767 $ 94,767 $ 94,767 $ - $ - Securities available-for-sale 162,263 162,263 - 162,263 - 159,619 159,619 - 159,619 - Loans held for sale 341,293 341,293 - 341,293 - 402,003 402,003 - 402,003 - Loans receivable 1,335,423 1,334,335 - - 1,334,335 1,375,137 1,374,898 - - 1,374,898 FHLB stock 26,720 26,720 - 26,720 - 26,720 26,720 - 26,720 - Accrued interest receivable 4,924 4,924 4,924 - - 4,957 4,957 4,957 - - Mortgage servicing rights 8,830 12,972 - - 12,972 5,977 7,075 - - 7,075 Mortgage banking derivative assets 11,601 11,601 - - 11,601 11,057 11,057 - - 11,057 Interest rate swap asset 2,816 2,816 - 2,816 - 3,892 3,892 - 3,892 - Financial Liabilities Deposits 1,219,691 1,220,776 513,937 706,839 - 1,184,870 1,186,062 483,542 702,520 - Advance payments by borrowers for taxes 12,048 12,048 12,048 - - 3,522 3,522 3,522 - - Borrowings 490,505 514,121 - 514,121 - 508,074 545,107 - 545,107 - Accrued interest payable 1,035 1,035 1,035 - - 1,137 1,137 1,137 - - Mortgage banking derivative liabilities - - - - - 5,140 5,140 - - 5,140 Interest rate swap liability 2,816 2,816 - 2,816 - 3,892 3,892 - 3,892 - 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 March 31, 2021 and December 31, 2020. 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	3 Months Ended
	Mar. 31, 2021
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. 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 21 states with the ability to lend in 48 states. Presented below is the segment information: As of or for the three months ended March 31, 2021 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income $ 14,247 (350 ) 55 13,952 Provision (credit) for loan losses (1,100 ) 30 - (1,070 ) Net interest income after provision (credit) for loan losses 15,347 (380 ) 55 15,022 Noninterest income 1,243 55,035 (79 ) 56,199 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 4,975 29,262 (114 ) 34,123 Occupancy, office furniture and equipment 1,025 1,540 - 2,565 Advertising 209 615 - 824 Data processing 511 454 6 971 Communications 119 212 - 331 Professional fees 194 (524 ) 15 (315 ) Real estate owned (12 ) - - (12 ) Loan processing expense - 1,335 - 1,335 Other 440 2,681 57 3,178 Total noninterest expenses 7,461 35,575 (36 ) 43,000 Income before income taxes 9,129 19,080 12 28,221 Income tax expense (benefit) 1,786 5,096 (5 ) 6,877 Net income $ 7,343 13,984 17 21,344 Total assets $ 2,132,366 411,750 (346,105 ) 2,198,011 As of or for the three months ended March 31, 2020 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income $ 12,908 (379 ) (3 ) 12,526 Provision for loan losses 750 35 - 785 Net interest income after provision for loan losses 12,158 (414 ) (3 ) 11,741 Noninterest income 1,028 30,798 (362 ) 31,464 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 5,168 19,387 (154 ) 24,401 Occupancy, office furniture and equipment 1,014 1,727 - 2,741 Advertising 248 652 - 900 Data processing 605 395 6 1,006 Communications 97 241 - 338 Professional fees 198 1,620 14 1,832 Real estate owned 11 - - 11 Loan processing expense - 1,076 - 1,076 Other 580 2,552 (229 ) 2,903 Total noninterest expenses 7,921 27,650 (363 ) 35,208 Income (loss) before income taxes 5,265 2,734 (2 ) 7,997 Income tax expense 1,154 768 6 1,928 Net income (loss) $ 4,111 1,966 (8 ) 6,069 Total assets $ 2,018,092 311,570 (272,986 ) 2,056,676

Leases

Leases	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 and March 31, 2020. At March 31, 2021, the Company had lease liabilities totaling $7.5 million and right-of-use assets totaling $7.1 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 months ended March 31, 2021 and March 31, 2020: Three months ended March 31, 2021 Three months ended March 31, 2020 (In Thousands) Operating lease cost $ 770 $ 824 Variable cost 117 109 Short-term lease cost 151 193 Total $ 1,038 $ 1,126 At March 31, 2021, the Company had leases that had not yet commenced, but will create approximately $13,000 of additional lease liabilities and right-of-use assets for the Company in the second quarter of 2021. The table below summarizes other information related to our operating leases: Three months ended March 31, 2021 (Dollars in Thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 859 Initial recognition of right of use asset 602 Initial recognition of lease liabilities 602 Weighted average remaining lease term - operating leases, in years 3.4 Weighted average discount rate - operating leases 5.2 % As of March 31, 2021, lease liability information for the Company is summarized in the following table. Maturity analysis Operating leases (In Thousands) One year or less $ 2,742 More than one year through two years 2,128 More than two years through three years 1,484 More than three years through four years 804 More than four years through five years 452 More than five years 874 Total lease payments 8,484 Present value discount (952 ) Lease liability $ 7,532

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
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 three months 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 reclassed certain line items in the Consolidated Statements of Cash Flows.
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 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. On December 27, 2020, the 2021 Consolidated Appropriations Act was signed into law. The legislation extended the delay of the adoption of ASC Topic 326 allowed under the CARES Act until the earlier of the termination date of the national emergency declaration by the President or January 1, 2022. 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. 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 three months ended March 31, 2021, 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)	3 Months Ended
	Mar. 31, 2021
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)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of approximately $754.0 million and interest rate lock commitments with an aggregate notional amount of approximately $518.1 million. The fair value of the forward commitments to sell mortgage loans at March 31, 2021 included a gain of $6.6 million 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 March 31, 2021 included a gain of $5.0 million that is reported as a component of other assets on the Company's consolidated statements of financial condition. At December 31, 2020, the Company had forward commitments to sell mortgage loans with an aggregate notional amount of $779.9 million and interest rate lock commitments with an aggregate notional amount of approximately $486.2 million. The fair value of the forward commitments to sell mortgage loans at December 31, 2020 included a loss of $5.1 million that is reported as a component of other liabilities on the Company's consolidated statement of financial condition. The fair value of the interest rate locks at December 31, 2020 included a gain of $11.1 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 $106.9 million at March 31, 2021 and $107.5 million at December 31, 2020. 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 $2.8 million as of March 31, 2021 and $3.9 million as of December 31, 2020. As of March 31, 2021 and December 31, 2020, no back-to-back swaps were in default. The aggregate amortizing notional value of back-to-back swaps with dealer counterparties was $106.9 million as of March 31, 2021 and $107.5 million as of December 31, 2020. 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 $2.8 million as of March 31, 2021 and $3.9 million as of December 31, 2020. No right of offset existed with dealer counterparty swaps as of March 31, 2021 and December 31, 2020. All changes in the fair value of these instruments are recorded in other non-interest income. The Company pledged no mortgage backed securities to secure its obligation under these contracts at March 31, 2021 and $7.2 million in mortgage backed securities at December 31, 2020.

Securities Available for Sale_2

Securities Available for Sale (Tables)	3 Months Ended
	Mar. 31, 2021
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: March 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 23,862 $ 868 $ (152 ) $ 24,578 Collateralized mortgage obligations: Government sponsored enterprise issued 67,447 1,428 (460 ) 68,415 Private -label issued 3,081 49 - 3,130 Mortgage-related securities 94,390 2,345 (612 ) 96,123 Government sponsored enterprise bonds 2,500 - (32 ) 2,468 Municipal securities 50,574 1,683 (16 ) 52,241 Other debt securities 12,500 24 (1,093 ) 11,431 Debt securities 65,574 1,707 (1,141 ) 66,140 $ 159,964 $ 4,052 $ (1,753 ) $ 162,263 December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In Thousands) Mortgage-backed securities $ 24,005 $ 1,110 $ (15 ) $ 25,100 Collateralized mortgage obligations: Government sponsored enterprise issued 61,604 1,693 (13 ) 63,284 Private label issued 3,611 54 - 3,665 Mortgage-related securities 89,220 2,857 (28 ) 92,049 Government sponsered enterprise bonds 2,500 3 - 2,503 Municipal securities 51,512 2,102 - 53,614 Other debt securities 12,500 46 (1,093 ) 11,453 Debt securities 66,512 2,151 (1,093 ) 67,570 $ 155,732 $ 5,008 $ (1,121 ) $ 159,619
Amortized Cost and Fair Values of Investment Securities by Contractual Maturity	The amortized cost and fair values of investment securities by contractual maturity at March 31, 2021 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 $ 9,390 $ 9,456 Due after one year through five years 33,922 34,913 Due after five years through ten years 17,143 16,649 Due after ten years 5,119 5,122 Mortgage-related securities 94,390 96,123 $ 159,964 $ 162,263
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: March 31, 2021 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 $ 4,308 $ (152 ) $ - $ - $ 4,308 $ (152 ) Collateralized mortgage obligations: Government sponsored enterprise issued 19,956 (460 ) - - 19,956 (460 ) Government sponsored enterprise bonds 2,468 (32 ) - - 2,468 (32 ) Municipal securities 3,171 (16 ) - - 3,171 (16 ) Other debt securities - - 8,907 (1,093 ) 8,907 (1,093 ) $ 29,903 $ (660 ) $ 8,907 $ (1,093 ) $ 38,810 $ (1,753 ) December 31, 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 $ 2,089 $ (15 ) $ - $ - $ 2,089 $ (15 ) Collateralized mortgage obligations: Government sponsored enterprise issued 4,880 (13 ) - - 4,880 (13 ) Municipal securities - - - - - - Other debt securities - - 8,907 (1,093 ) 8,907 (1,093 ) $ 6,969 $ (28 ) $ 8,907 $ (1,093 ) $ 15,876 $ (1,121 )

Loans Receivable (Tables)

Loans Receivable (Tables)	3 Months Ended
	Mar. 31, 2021
Loans Receivable [Abstract]
Components of Loans Receivable	Loans receivable at March 31, 2021 and December 31, 2020 are summarized as follows: March 31, 2021 December 31, 2020 (In Thousands) Mortgage loans: Residential real estate: One- to four-family $ 401,170 $ 426,792 Multi-family 572,165 571,948 Home equity 14,673 14,820 Construction and land 57,123 77,080 Commercial real estate 241,790 238,375 Consumer 698 736 Commercial loans 47,804 45,386 $ 1,335,423 $ 1,375,137
Analysis of Past Due Loans Receivable	An analysis of past due loans receivable as of March 31, 2021 and December 31, 2020 follows: As of March 31, 2021 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 $ 4,170 $ - $ 2,159 $ 6,329 $ 394,841 $ 401,170 Multi-family - - 314 314 571,851 572,165 Home equity 36 - 30 66 14,607 14,673 Construction and land - - 43 43 57,080 57,123 Commercial real estate - - 30 30 241,760 241,790 Consumer - - - - 698 698 Commercial loans 140 - - 140 47,664 47,804 Total $ 4,346 $ - $ 2,576 $ 6,922 $ 1,328,501 $ 1,335,423 As of December 31, 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 $ 3,796 $ 142 $ 3,530 $ 7,468 $ 419,324 $ 426,792 Multi-family - - 314 314 571,634 571,948 Home equity - - 30 30 14,790 14,820 Construction and land - - 43 43 77,037 77,080 Commercial real estate - - 41 41 238,334 238,375 Consumer - - - - 736 736 Commercial loans - - - - 45,386 45,386 Total $ 3,796 $ 142 $ 3,958 $ 7,896 $ 1,367,241 $ 1,375,137 (1) (2) (3)
Allowance for Loan Losses	A summary of the activity for the three months ended March 31, 2021 and 2020 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 March 31, 2021 Balance at beginning of period $ 5,459 $ 5,600 $ 194 $ 1,755 $ 5,138 $ 35 $ 642 $ 18,823 Provision (credit) for loan losses (862 ) 421 (15 ) (505 ) (123 ) (2 ) 16 (1,070 ) Charge-offs (14 ) - - - - - - (14 ) Recoveries 11 23 4 1 2 - - 41 Balance at end of period $ 4,594 $ 6,044 $ 183 $ 1,251 $ 5,017 $ 33 $ 658 $ 17,780 Three months ended March 31, 2020 Balance at beginning of period $ 4,907 $ 4,138 $ 201 $ 610 $ 2,145 $ 14 $ 372 $ 12,387 Provision (credit) for loan losses (234 ) 160 32 76 654 10 87 785 Charge-offs (6 ) - - - - (1 ) - (7 ) Recoveries 47 3 6 1 4 - - 61 Balance at end of period $ 4,714 $ 4,301 $ 239 $ 687 $ 2,803 $ 23 $ 459 $ 13,226
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 March 31, 2021 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 $ 21 $ - $ - $ - $ - $ - $ - $ 21 Allowance related to loans collectively evaluated for impairment 4,573 6,044 183 1,251 5,017 33 658 17,759 Balance at end of period $ 4,594 $ 6,044 $ 183 $ 1,251 $ 5,017 $ 33 $ 658 $ 17,780 Loans individually evaluated for impairment $ 6,462 $ 314 $ 59 $ 43 $ 6,964 $ - $ 1,097 $ 14,939 Loans collectively evaluated for impairment 394,708 571,851 14,614 57,080 234,826 698 46,707 1,320,484 Total gross loans $ 401,170 $ 572,165 $ 14,673 $ 57,123 $ 241,790 $ 698 $ 47,804 $ 1,335,423 A summary of the allowance for loan loss for loans evaluated individually and collectively for impairment by collateral class as of December 31, 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 $ 23 $ - $ - $ - $ - $ - $ - $ 23 Allowance related to loans collectively evaluated for impairment 5,436 5,600 194 1,755 5,138 35 642 18,800 Balance at end of period $ 5,459 $ 5,600 $ 194 $ 1,755 $ 5,138 $ 35 $ 642 $ 18,823 Loans individually evaluated for impairment $ 7,805 $ 341 $ 63 $ 43 $ 7,248 $ - $ 1,097 $ 16,597 Loans collectively evaluated for impairment 418,987 571,607 14,757 77,037 231,127 736 44,289 1,358,540 Total gross loans $ 426,792 $ 571,948 $ 14,820 $ 77,080 $ 238,375 $ 736 $ 45,386 $ 1,375,137
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 March 31, 2021 and December 31, 2020: One to Four- Family Multi-Family Home Equity Construction and Land Commercial Real Estate Consumer Commercial Total (In Thousands) At March 31, 2021 Substandard $ 6,462 $ 314 $ 242 $ 43 $ 6,964 $ - $ 1,796 $ 15,821 Watch 6,164 272 83 4,269 5,585 - 3,127 19,500 Pass 388,544 571,579 14,348 52,811 229,241 698 42,881 1,300,102 $ 401,170 $ 572,165 $ 14,673 $ 57,123 $ 241,790 $ 698 $ 47,804 $ 1,335,423 At December 31, 2020 Substandard $ 7,804 $ 341 $ 248 $ 43 $ 6,026 $ - $ 710 $ 15,172 Watch 7,667 275 15 4,282 6,714 - 4,101 23,054 Pass 411,321 571,332 14,557 72,755 225,635 736 40,575 1,336,911 $ 426,792 $ 571,948 $ 14,820 $ 77,080 $ 238,375 $ 736 $ 45,386 $ 1,375,137
Impaired Loan Receivables	The following tables present data on impaired loans at March 31, 2021 and December 31, 2020. As of March 31, 2021 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 206 $ 206 $ 21 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - - - Consumer - - - - Commercial - - - - 206 206 21 - Total Impaired with no Reserve One- to four-family 6,256 7,019 - 763 Multi-family 314 314 - - Home equity 59 59 - - Construction and land 43 51 - 8 Commercial real estate 6,964 6,964 - - Consumer - - - - Commercial 1,097 1,097 - - 14,733 15,504 - 771 Total Impaired One- to four-family 6,462 7,225 21 763 Multi-family 314 314 - - Home equity 59 59 - - Construction and land 43 51 - 8 Commercial real estate 6,964 6,964 - - Consumer - - - - Commercial 1,097 1,097 - - $ 14,939 $ 15,710 $ 21 $ 771 As of December 31, 2020 Recorded Investment Unpaid Principal Reserve Cumulative Charge-Offs (In Thousands) Total Impaired with Reserve One- to four-family $ 208 $ 208 $ 23 $ - Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - - - Consumer - - - - Commercial - - - - 208 208 23 - Total Impaired with no Reserve One- to four-family 7,597 8,444 - 847 Multi-family 341 352 - 11 Home equity 63 63 - - Construction and land 43 51 - 8 Commercial real estate 7,248 7,248 - - Consumer - - - - Commercial 1,097 1,097 - - 16,389 17,255 - 866 Total Impaired One- to four-family 7,805 8,652 23 847 Multi-family 341 352 - 11 Home equity 63 63 - - Construction and land 43 51 - 8 Commercial real estate 7,248 7,248 - - Consumer - - - - Commercial 1,097 1,097 - - $ 16,597 $ 17,463 $ 23 $ 866 The following tables present data on impaired loans for the three months ended March 31, 2021 and 2020. Three months ended March 31, 2021 2020 Average Recorded Investment Interest Paid Average Recorded Investment Interest Paid (In Thousands) Total Impaired with Reserve One- to four-family $ 207 $ 4 $ 216 $ 4 Multi-family - - - - Home equity - - - - Construction and land - - - - Commercial real estate - - 5 10 Consumer - - - - Commercial - - - - 207 4 221 14 Total Impaired with no Reserve One- to four-family 6,294 79 8,265 98 Multi-family 314 - 656 17 Home equity 60 1 388 4 Construction and land 43 - - - Commercial real estate 6,967 78 349 4 Consumer - - - - Commercial 1,097 12 - - 14,775 170 9,658 123 Total Impaired One- to four-family 6,501 83 8,481 102 Multi-family 314 - 656 17 Home equity 60 1 388 4 Construction and land 43 - - - Commercial real estate 6,967 78 354 14 Consumer - - - - Commercial 1,097 12 - - $ 14,982 $ 174 $ 9,879 $ 137
Troubled Debt Restructurings on Loan Receivables	The following presents data on troubled debt restructurings: As of March 31, 2021 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,728 2 $ 1,088 4 $ 3,816 6 Commercial real estate 6,934 2 - - 6,934 2 Commercial 1,097 1 - - 1,097 1 $ 10,759 5 $ 1,088 4 $ 11,847 9 As of December 31, 2020 Accruing Non-accruing Total Amount Number Amount Number Amount Number (Dollars in Thousands) One- to four-family $ 2,733 2 $ 532 3 $ 3,265 5 Commercial real estate 7,207 3 - - 7,207 3 Commercial 1,097 1 - - 1,097 1 $ 11,037 6 $ 532 3 $ 11,569 9
Troubled Debt Restructurings by Concession Type	The following presents troubled debt restructurings by concession type: As of March 31, 2021 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,206 4 $ - - $ 3,206 4 Interest reduction 27 1 - - 27 1 Principal forbearance 8,614 4 - - 8,614 4 $ 11,847 9 $ - - $ 11,847 9 As of December 31, 2020 Performing in accordance with modified terms In Default Total Amount Number Amount Number Amount Number (Dollars in Thousands) Interest reduction and principal forbearance $ 3,236 4 $ - - $ 3,236 4 Interest reduction 302 2 - - 302 2 Principal forebearance 8,031 3 - - 8,031 3 $ 11,569 9 $ - - $ 11,569 9
Loans Receivables, Non Accrual Status	The following table presents data on non-accrual loans as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (Dollars in Thousands) Non-accrual loans: Residential real estate: One- to four-family $ 3,734 $ 5,072 Multi-family 314 341 Home equity 59 63 Construction and land 43 43 Commercial real estate 30 41 Commercial - - Consumer - - Total non-accrual loans $ 4,180 $ 5,560 Total non-accrual loans to total loans receivable 0.31 % 0.40 % Total non-accrual loans to total assets 0.19 % 0.25 %

Real Estate Owned (Tables)

Real Estate Owned (Tables)	3 Months Ended
	Mar. 31, 2021
Real Estate Owned [Abstract]
Real Estate Owned	Real estate owned is summarized as follows: March 31, 2021 December 31, 2020 (In Thousands) One- to four-family $ - $ - Multi-family - - Construction and land 150 322 Commercial real estate - - Total real estate owned 150 322 The following table presents the activity in the Company’s real estate owned: Three months ended March 31, 2021 2020 (In Thousands) Real estate owned at beginning of the period $ 322 $ 748 Transferred from loans receivable - - Sales (net of gains / losses) (172 ) (46 ) Write downs - - Other - - Real estate owned at the end of the period $ 150 $ 702

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2021
Mortgage Servicing Rights [Abstract]
Mortgage Servicing Rights Activity	The following table presents the activity in the Company’s mortgage servicing rights: Three months ended March 31, 2021 2020 (In Thousands) Mortgage servicing rights at beginning of the period $ 5,977 $ 282 Additions 3,516 58 Amortization (663 ) (51 ) Sales - - Mortgage servicing rights at end of the period 8,830 289 Valuation allowance during the period - (53 ) Mortgage servicing rights at end of the period, net $ 8,830 $ 236
Estimated Amortization Expense of Mortgage Servicing Rights	The following table shows the estimated future amortization expense for mortgage servicing rights for the periods indicated: (In Thousands) Estimate for the period ended December 31: 2021 $ 1,132 2022 1,400 2023 1,216 2024 1,108 Thereafter 3,974 Total 8,830

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Contractual Maturities of Time Deposits	A summary of the contractual maturities of time deposits at March 31, 2021 is as follows: (In Thousands) Within one year $ 594,237 More than one to two years 99,840 More than two to three years 9,718 More than three to four years 886 More than four through five years 1,073 $ 705,754

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Borrowings [Abstract]
Borrowings	Borrowings consist of the following: March 31, 2021 December 31, 2020 Balance Weighted Average Rate Balance Weighted Average Rate (Dollars in Thousands) Short term: Repurchase agreement $ 16,505 3.25 % $ 9,074 3.25 % Federal Home Loan Bank, Chicago 4,000 0.00 % 29,000 0.22 % 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 % $ 490,505 2.06 % $ 508,074 1.95 %

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2021
Regulatory Capital [Abstract]
Actual and Required Capital Amounts and Ratios	The actual and required capital amounts and ratios for the Bank as of March 31, 2021 and December 31, 2020 are presented in the table below: March 31, 2021 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. $ 446,657 27.07 % $ 131,977 8.00 % $ 173,220 10.50 % $ N/A N/A WaterStone Bank 396,096 24.01 % 131,977 8.00 % 173,220 10.50 % 164,971 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 428,877 26.00 % 98,983 6.00 % 140,226 8.50 % N/A N/A WaterStone Bank 378,316 22.93 % 98,983 6.00 % 140,226 8.50 % 131,977 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 428,877 26.00 % 74,237 4.50 % 115,480 7.00 % N/A N/A WaterStone Bank 378,316 22.93 % 74,237 4.50 % 115,480 7.00 % 107,231 6.50 % Tier 1 Capital (to average assets) Consolidated Waterstone Financial, Inc. 428,877 19.77 % 86,752 4.00 % N/A N/A N/A N/A WaterStone Bank 378,316 17.44 % 86,752 4.00 % N/A N/A 108,440 5.00 % State of Wisconsin (to total assets) WaterStone Bank 378,316 17.24 % 131,644 6.00 % N/A N/A N/A N/A December 31, 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. $ 428,972 24.80 % $ 138,390 8.00 % $ 181,637 10.50 % $ N/A N/A WaterStone Bank 389,519 22.52 % 138,346 8.00 % 181,579 10.50 % 172,933 10.00 % Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 410,149 23.71 % 103,792 6.00 % 147,039 8.50 % N/A N/A WaterStone Bank 370,696 21.44 % 103,760 6.00 % 146,993 8.50 % 138,346 8.00 % Common Equity Tier 1 Capital (to risk-weighted assets) Consolidated Waterstone Financial, Inc. 410,149 23.71 % 77,844 4.50 % 121,091 7.00 % N/A N/A WaterStone Bank 370,696 21.44 % 77,820 4.50 % 121,053 7.00 % 112,406 6.50 % Tier 1 Capital (to average assets) Consolidated Waterstone Financial, Inc. 410,149 18.38 % 89,238 4.00 % N/A N/A N/A N/A WaterStone Bank 370,696 16.61 % 89,263 4.00 % N/A N/A 111,579 5.00 % State of Wisconsin (to total assets) WaterStone Bank 370,696 16.62 % 133,856 6.00 % N/A N/A N/A N/A

Commitments, Off-Balance Shee_2

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
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. March 31, 2021 December 31, 2020 (In Thousands) Financial instruments whose contract amounts represent potential credit risk: Commitments to extend credit under amortizing loans (1) $ 20,302 $ 23,891 Commitments to extend credit under home equity lines of credit (2) 12,767 13,653 Unused portion of construction loans (3) 65,790 74,173 Unused portion of business lines of credit 18,221 19,207 Standby letters of credit 1,246 1,296 (1) (2) (3)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 2020 Net income $ 21,344 6,069 Weighted average shares outstanding 23,735 25,405 Effect of dilutive potential common shares 215 207 Diluted weighted average shares outstanding 23,950 25,612 Basic earnings per share $ 0.90 0.24 Diluted earnings per share $ 0.89 0.24

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using March 31, 2021 Level 1 Level 2 Level 3 (In Thousands) Assets Available-for-sale securities Mortgage-backed securities $ 24,578 $ - $ 24,578 $ - Collateralized mortgage obligations Government sponsored enterprise issued 68,415 - 68,415 - Private-label issued 3,130 - 3,130 - Government sponsored enterprise bonds 2,468 - 2,468 - Municipal securities 52,241 - 52,241 - Other debt securities 11,431 - 11,431 - Loans held for sale 341,293 - 341,293 - Mortgage banking derivative assets 11,601 - - 11,601 Interest rate swap assets 2,816 - 2,816 - Liabilities Mortgage banking derivative liabilities - - - - Interest rate swap liabilities 2,816 - 2,816 - Fair Value Measurements Using December 31, 2020 Level 1 Level 2 Level 3 (In Thousands) Assets Available-for-sale securities Mortgage-backed securities $ 25,100 $ - $ 25,100 $ - Collateralized mortgage obligations Government sponsored enterpris issued 63,284 - 63,284 - Private-label 3,665 - 3,665 - Government sponsored enterprise issued 2,503 - 2,503 - Municipal securities 53,614 - 53,614 - Other debt securities 11,453 - 11,453 - Loans held for sale 402,003 - 402,003 - Mortgage banking derivative assets 11,057 - - 11,057 Interest rate swap assets 3,892 - 3,892 - Liabilities Mortgage banking derivative liabilities 5,140 - - 5,140 Interest rate swap liabilities 3,892 - 3,892 -
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 2021 and 2020. Three months ended March 31, 2021 2020 (In Thousands) Mortgage derivative, net balance at the beginning of the period $ 5,917 $ 1835 Mortgage derivative gain, net 5,684 (3,282 ) Mortgage derivative, net balance at the end of the period $ 11,601 $ (1,447 )
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 March 31, 2021 and December 31, 2020, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. Fair Value Measurements Using March 31, 2021 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 185 $ - $ - $ 185 Real estate owned 150 - - 150 Impaired mortgage servicing rights 189 - - 189 Fair Value Measurements Using December 31, 2020 Level 1 Level 2 Level 3 (In Thousands) Impaired loans, net (1) $ 185 $ - $ - $ 185 Real estate owned 322 - - 322 Impaired mortgage servicing rights 189 - - 189 (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 March 31, 2021, the significant unobservable inputs used in the fair value measurements were as follows: Significant Unobservable Input Value Fair Value at March 31, 2021 Valuation Technique Significant Unobservable Inputs Minimum Value Maximum Value Weighted Average Mortgage banking derivatives, net $ 11,601 Pricing models Pull through rate 18.0 % 99.8 % 91.4 % Impaired loans 206 Market approach Discount rates applied to appraisals 15.0 % 15.0 % 15.0 % Real estate owned 150 Market approach Discount rates applied to appraisals 34.8 % 34.8 % 34.8 % Mortgage servicing rights 12,972 Pricing models Prepayment rate 8.1 % 33.7 % 9.2 % Discount rate 8.1 % 12.0 % 9.6 % Cost to service $ 77.01 $ 839.34 $ 82.92
Fair Value, by Balance Sheet Grouping	The carrying amounts and fair values of the Company’s financial instruments consist of the following: March 31, 2021 December 31, 2020 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 $ 198,401 $ 198,401 $ 198,401 $ - $ - $ 94,767 $ 94,767 $ 94,767 $ - $ - Securities available-for-sale 162,263 162,263 - 162,263 - 159,619 159,619 - 159,619 - Loans held for sale 341,293 341,293 - 341,293 - 402,003 402,003 - 402,003 - Loans receivable 1,335,423 1,334,335 - - 1,334,335 1,375,137 1,374,898 - - 1,374,898 FHLB stock 26,720 26,720 - 26,720 - 26,720 26,720 - 26,720 - Accrued interest receivable 4,924 4,924 4,924 - - 4,957 4,957 4,957 - - Mortgage servicing rights 8,830 12,972 - - 12,972 5,977 7,075 - - 7,075 Mortgage banking derivative assets 11,601 11,601 - - 11,601 11,057 11,057 - - 11,057 Interest rate swap asset 2,816 2,816 - 2,816 - 3,892 3,892 - 3,892 - Financial Liabilities Deposits 1,219,691 1,220,776 513,937 706,839 - 1,184,870 1,186,062 483,542 702,520 - Advance payments by borrowers for taxes 12,048 12,048 12,048 - - 3,522 3,522 3,522 - - Borrowings 490,505 514,121 - 514,121 - 508,074 545,107 - 545,107 - Accrued interest payable 1,035 1,035 1,035 - - 1,137 1,137 1,137 - - Mortgage banking derivative liabilities - - - - - 5,140 5,140 - - 5,140 Interest rate swap liability 2,816 2,816 - 2,816 - 3,892 3,892 - 3,892 -

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Presented below is the segment information: As of or for the three months ended March 31, 2021 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income $ 14,247 (350 ) 55 13,952 Provision (credit) for loan losses (1,100 ) 30 - (1,070 ) Net interest income after provision (credit) for loan losses 15,347 (380 ) 55 15,022 Noninterest income 1,243 55,035 (79 ) 56,199 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 4,975 29,262 (114 ) 34,123 Occupancy, office furniture and equipment 1,025 1,540 - 2,565 Advertising 209 615 - 824 Data processing 511 454 6 971 Communications 119 212 - 331 Professional fees 194 (524 ) 15 (315 ) Real estate owned (12 ) - - (12 ) Loan processing expense - 1,335 - 1,335 Other 440 2,681 57 3,178 Total noninterest expenses 7,461 35,575 (36 ) 43,000 Income before income taxes 9,129 19,080 12 28,221 Income tax expense (benefit) 1,786 5,096 (5 ) 6,877 Net income $ 7,343 13,984 17 21,344 Total assets $ 2,132,366 411,750 (346,105 ) 2,198,011 As of or for the three months ended March 31, 2020 Community Banking Mortgage Banking Holding Company and Other Consolidated (In Thousands) Net interest income $ 12,908 (379 ) (3 ) 12,526 Provision for loan losses 750 35 - 785 Net interest income after provision for loan losses 12,158 (414 ) (3 ) 11,741 Noninterest income 1,028 30,798 (362 ) 31,464 Noninterest expenses: Compensation, payroll taxes, and other employee benefits 5,168 19,387 (154 ) 24,401 Occupancy, office furniture and equipment 1,014 1,727 - 2,741 Advertising 248 652 - 900 Data processing 605 395 6 1,006 Communications 97 241 - 338 Professional fees 198 1,620 14 1,832 Real estate owned 11 - - 11 Loan processing expense - 1,076 - 1,076 Other 580 2,552 (229 ) 2,903 Total noninterest expenses 7,921 27,650 (363 ) 35,208 Income (loss) before income taxes 5,265 2,734 (2 ) 7,997 Income tax expense 1,154 768 6 1,928 Net income (loss) $ 4,111 1,966 (8 ) 6,069 Total assets $ 2,018,092 311,570 (272,986 ) 2,056,676

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Components of Operating Expenses	The cost components of our operating leases were as follows for the three months ended March 31, 2021 and March 31, 2020: Three months ended March 31, 2021 Three months ended March 31, 2020 (In Thousands) Operating lease cost $ 770 $ 824 Variable cost 117 109 Short-term lease cost 151 193 Total $ 1,038 $ 1,126
Other Information Related to Operating Leases	The table below summarizes other information related to our operating leases: Three months ended March 31, 2021 (Dollars in Thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 859 Initial recognition of right of use asset 602 Initial recognition of lease liabilities 602 Weighted average remaining lease term - operating leases, in years 3.4 Weighted average discount rate - operating leases 5.2 %
Maturity Analysis of Lease Liabilities	As of March 31, 2021, lease liability information for the Company is summarized in the following table. Maturity analysis Operating leases (In Thousands) One year or less $ 2,742 More than one year through two years 2,128 More than two years through three years 1,484 More than three years through four years 804 More than four years through five years 452 More than five years 874 Total lease payments 8,484 Present value discount (952 ) Lease liability $ 7,532

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2021Office
Basis of Presentation [Abstract]
Number of offices	14

Securities Available for Sale_3

Securities Available for Sale (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)Security	Mar. 31, 2020USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2020USD ($)
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	$ 159,964,000				$ 155,732,000
Gross unrealized gains	4,052,000				5,008,000
Gross unrealized losses	(1,753,000)				(1,121,000)
Fair Value	162,263,000				159,619,000
Amortized cost of investment securities by contractual maturity [Abstract]
Due within one year	9,390,000
Due after one year through five years	33,922,000
Due after five years through ten years	17,143,000
Due after ten years	5,119,000
Mortgage-related securities	94,390,000
Amortized Cost	159,964,000				155,732,000
Fair value of investment securities by contractual maturity [Abstract]
Due within one year	9,456,000
Due after one year through five years	34,913,000
Due after five years through ten years	16,649,000
Due after ten years	5,122,000
Mortgage-related securities	96,123,000
Fair Value	162,263,000				159,619,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	29,903,000				6,969,000
12 months or longer	8,907,000				8,907,000
Fair value	38,810,000				15,876,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(660,000)				(28,000)
12 months or longer	(1,093,000)				(1,093,000)
Unrealized loss	(1,753,000)				(1,121,000)
Mortgage-Backed Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	23,862,000				24,005,000
Gross unrealized gains	868,000				1,110,000
Gross unrealized losses	(152,000)				(15,000)
Fair Value	24,578,000				25,100,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	23,862,000				24,005,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	24,578,000				25,100,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	4,308,000				2,089,000
12 months or longer	0				0
Fair value	4,308,000				2,089,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(152,000)				(15,000)
12 months or longer	0				0
Unrealized loss	(152,000)				(15,000)
Collateralized Mortgage Obligations, Government Sponsored Enterprise Issued [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	67,447,000				61,604,000
Gross unrealized gains	1,428,000				1,693,000
Gross unrealized losses	(460,000)				(13,000)
Fair Value	68,415,000				63,284,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	67,447,000				61,604,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	68,415,000				63,284,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	19,956,000				4,880,000
12 months or longer	0				0
Fair value	19,956,000				4,880,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(460,000)				(13,000)
12 months or longer	0				0
Unrealized loss	(460,000)				(13,000)
Collateralized Mortgage Obligations, Private label Issued [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	3,081,000				3,611,000
Gross unrealized gains	49,000				54,000
Gross unrealized losses	0				0
Fair Value	3,130,000				3,665,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	3,081,000				3,611,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	3,130,000				3,665,000
Mortgage-Related Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	94,390,000				89,220,000
Gross unrealized gains	2,345,000				2,857,000
Gross unrealized losses	(612,000)				(28,000)
Fair Value	96,123,000				92,049,000
Securities pledged as collateral	687,000				785,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	94,390,000				89,220,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	96,123,000				92,049,000
Government Sponsored Enterprise Bonds [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	2,500,000				2,500,000
Gross unrealized gains	0				3,000
Gross unrealized losses	(32,000)				0
Fair Value	2,468,000				2,503,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	2,500,000				2,500,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	2,468,000				2,503,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	2,468,000
12 months or longer	0
Fair value	2,468,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(32,000)
12 months or longer	0
Unrealized loss	(32,000)
Municipal Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	50,574,000				51,512,000
Gross unrealized gains	1,683,000				2,102,000
Gross unrealized losses	(16,000)				0
Fair Value	$ 52,241,000				53,614,000
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	50,574,000				51,512,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	52,241,000				53,614,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	3,171,000				0
12 months or longer	0				0
Fair value	3,171,000				0
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	(16,000)				0
12 months or longer	0				0
Unrealized loss	(16,000)				0
Other Debt Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	12,500,000				12,500,000
Gross unrealized gains	24,000				46,000
Gross unrealized losses	(1,093,000)				(1,093,000)
Fair Value	11,431,000				11,453,000
Amortized cost of investment securities by contractual maturity [Abstract]
Amortized Cost	12,500,000				12,500,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	11,431,000				11,453,000
Fair value of securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				0
12 months or longer	8,907,000				8,907,000
Fair value	8,907,000				8,907,000
Unrealized loss on securities available for sale in a continuous unrealized loss position [Abstract]
Less than 12 months	0				0
12 months or longer	(1,093,000)				(1,093,000)
Unrealized loss	(1,093,000)				(1,093,000)
Debt Securities [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Amortized Cost	65,574,000				66,512,000
Gross unrealized gains	1,707,000				2,151,000
Gross unrealized losses	(1,141,000)				(1,093,000)
Fair Value	$ 66,140,000				67,570,000
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	$ 65,574,000				66,512,000
Fair value of investment securities by contractual maturity [Abstract]
Fair Value	$ 66,140,000				67,570,000
Back-to-Back Swaps [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Securities pledged as collateral					$ 7,200,000

Loans Receivable, Part I (Detai

Loans Receivable, Part I (Details) $ in Thousands	Mar. 31, 2021USD ($)Loan	Dec. 31, 2020USD ($)Loan
Mortgage Loans [Abstract]
Loans receivable	$ 1,335,423	$ 1,375,137
Loans receivable pledged as collateral	1,010	1,070
Advances by Federal Home Loan Bank	474,000	499,000
Loans outstanding to related parties	$ 7,000	$ 7,200
Number of loans impaired | Loan	0	0
Residential Real Estate [Member] | One-to-Four Family [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 401,170	$ 426,792
Residential Real Estate [Member] | Multi Family [Member]
Mortgage Loans [Abstract]
Loans receivable	572,165	571,948
Residential Real Estate [Member] | Home Equity [Member]
Mortgage Loans [Abstract]
Loans receivable	14,673	14,820
Construction and Land [Member]
Mortgage Loans [Abstract]
Loans receivable	57,123	77,080
Commercial Real Estate [Member]
Mortgage Loans [Abstract]
Loans receivable	241,790	238,375
Consumer [Member]
Mortgage Loans [Abstract]
Loans receivable	698	736
Commercial Loans [Member]
Mortgage Loans [Abstract]
Loans receivable	$ 47,804	$ 45,386

Loans Receivable, Part II (Deta

Loans Receivable, Part II (Details) - USD ($)		Mar. 31, 2021	Dec. 31, 2020
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 6,922,000	$ 7,896,000
Current	[1]	1,328,501,000	1,367,241,000
Total Loans		1,335,423,000	1,375,137,000
Loan Receivable, Nonaccrual Status		1,200,000	1,600,000
1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	4,346,000	3,796,000
Loan Receivable, Nonaccrual Status		394,000	611,000
60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	142,000
Loan Receivable, Nonaccrual Status		0	0
Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		2,576,000	3,958,000
90 or more days past due		0	586,000
Residential Real Estate [Member] | One-to-Four Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		6,329,000	7,468,000
Current	[1]	394,841,000	419,324,000
Total Loans		401,170,000	426,792,000
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]	4,170,000	3,796,000
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	142,000
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		2,159,000	3,530,000
Residential Real Estate [Member] | Multi Family [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		314,000	314,000
Current	[1]	571,851,000	571,634,000
Total Loans		572,165,000	571,948,000
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	314,000
Residential Real Estate [Member] | Home Equity [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		66,000	30,000
Current	[1]	14,607,000	14,790,000
Total Loans		14,673,000	14,820,000
Residential Real Estate [Member] | Home Equity [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	36,000	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	0
Residential Real Estate [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		30,000	30,000
Construction and Land [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		43,000	43,000
Current	[1]	57,080,000	77,037,000
Total Loans		57,123,000	77,080,000
Construction and Land [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	0
Construction and Land [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Construction and Land [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		43,000	43,000
Commercial Real Estate [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		30,000	41,000
Current	[1]	241,760,000	238,334,000
Total Loans		241,790,000	238,375,000
Commercial Real Estate [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	0	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		30,000	41,000
Consumer [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		0	0
Current	[1]	698,000	736,000
Total Loans		698,000	736,000
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		140,000	0
Current	[1]	47,664,000	45,386,000
Total Loans		47,804,000	45,386,000
Commercial Loans [Member] | 1 to 59 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[2]	140,000	0
Commercial Loans [Member] | 60 to 89 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due	[3]	0	0
Commercial Loans [Member] | Greater than 90 Days Past Due [Member]
Financing receivable, recorded investment, aging [Abstract]
Total Past Due		$ 0	$ 0
[1]	Includes $1.2 million and $1.6 million at March 31, 2021 and December 31, 2020, respectively, which are on non-accrual status.
[2]	Includes $394,000 and $611,000 at March 31, 2021 and December 31, 2020, respectively, which are on non-accrual status.
[3]	Includes $- and $- at March 31, 2021 and December 31, 2020, respectively, which are on non-accrual status.

Loans Receivable, Part III (Det

Loans Receivable, Part III (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Dec. 31, 2020
Allowance for loan losses [Roll Forward]
Balance at beginning of period	$ 18,823	$ 12,387
Provision (credit) for loan losses	(1,070)	785
Charge-offs	(14)	(7)
Recoveries	41	61
Balance at end of period	17,780	13,226
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			$ 21	$ 23
Allowance related to loans collectively evaluated for impairment			17,759	18,800
Provision for loan losses	17,780	13,226	17,780	18,823
Loans Gross [Abstract]
Loans individually evaluated for impairment			14,939	16,597
Loans collectively evaluated for impairment			1,320,484	1,358,540
Total gross loans			1,335,423	1,375,137
Residential Real Estate [Member] | One-to-Four Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,459	4,907
Provision (credit) for loan losses	(862)	(234)
Charge-offs	(14)	(6)
Recoveries	11	47
Balance at end of period	4,594	4,714
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			21	23
Allowance related to loans collectively evaluated for impairment			4,573	5,436
Provision for loan losses	4,594	4,714	4,594	5,459
Loans Gross [Abstract]
Loans individually evaluated for impairment			6,462	7,805
Loans collectively evaluated for impairment			394,708	418,987
Total gross loans			401,170	426,792
Residential Real Estate [Member] | Multi Family [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,600	4,138
Provision (credit) for loan losses	421	160
Charge-offs	0	0
Recoveries	23	3
Balance at end of period	6,044	4,301
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			0	0
Allowance related to loans collectively evaluated for impairment			6,044	5,600
Provision for loan losses	6,044	4,301	6,044	5,600
Loans Gross [Abstract]
Loans individually evaluated for impairment			314	341
Loans collectively evaluated for impairment			571,851	571,607
Total gross loans			572,165	571,948
Residential Real Estate [Member] | Home Equity [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	194	201
Provision (credit) for loan losses	(15)	32
Charge-offs	0	0
Recoveries	4	6
Balance at end of period	183	239
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			183	194
Provision for loan losses	183	239	183	194
Loans Gross [Abstract]
Loans individually evaluated for impairment			59	63
Loans collectively evaluated for impairment			14,614	14,757
Total gross loans			14,673	14,820
Construction and Land [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	1,755	610
Provision (credit) for loan losses	(505)	76
Charge-offs	0	0
Recoveries	1	1
Balance at end of period	1,251	687
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			1,251	1,755
Provision for loan losses	1,251	687	1,251	1,755
Loans Gross [Abstract]
Loans individually evaluated for impairment			43	43
Loans collectively evaluated for impairment			57,080	77,037
Total gross loans			57,123	77,080
Commercial Real Estate [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	5,138	2,145
Provision (credit) for loan losses	(123)	654
Charge-offs	0	0
Recoveries	2	4
Balance at end of period	5,017	2,803
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			5,017	5,138
Provision for loan losses	5,017	2,803	5,017	5,138
Loans Gross [Abstract]
Loans individually evaluated for impairment			6,964	7,248
Loans collectively evaluated for impairment			234,826	231,127
Total gross loans			241,790	238,375
Consumer [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	35	14
Provision (credit) for loan losses	(2)	10
Charge-offs	0	(1)
Recoveries	0	0
Balance at end of period	33	23
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			33	35
Provision for loan losses	33	23	33	35
Loans Gross [Abstract]
Loans individually evaluated for impairment			0	0
Loans collectively evaluated for impairment			698	736
Total gross loans			698	736
Commercial Loans [Member]
Allowance for loan losses [Roll Forward]
Balance at beginning of period	642	372
Provision (credit) for loan losses	16	87
Charge-offs	0	0
Recoveries	0	0
Balance at end of period	658	459
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			658	642
Provision for loan losses	$ 658	$ 459	658	642
Loans Gross [Abstract]
Loans individually evaluated for impairment			1,097	1,097
Loans collectively evaluated for impairment			46,707	44,289
Total gross loans			$ 47,804	$ 45,386

Loans Receivable, Part IV (Deta

Loans Receivable, Part IV (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Loans and Leases Receivable [Abstract]
At December 31, 2020	$ 1,335,423,000		$ 1,375,137,000
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	$ 206,000		208,000
Total Impaired, with no Reserve, Recorded Investment	14,733,000		16,389,000
Total Impaired, Recorded Investment	14,939,000		16,597,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	206,000		208,000
Total Impaired with no Reserve, Unpaid Principal Balance	15,504,000		17,255,000
Total Impaired, Unpaid Principal Balance, Total	15,710,000		17,463,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	21,000		23,000
Total Impaired with no Reserve, Reserve	0		0
Impaired Loans, Reserve	21,000		23,000
Impaired Loans Receivable, Cumulative Charge Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0		0
Total Impaired with no Reserve, Cumulative Charge-offs	771,000		866,000
Total Impaired, Cumulative Charge-offs	771,000		866,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	207,000	$ 221,000
Total Impaired with no Reserve, Average Recorded Investment	14,775,000	9,658,000
Total Impaired, Average Recorded Investment, Total	14,982,000	9,879,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	4,000	14,000
Total Impaired with no Reserve, Interest Paid YTD	170,000	123,000
Total Impaired, Interest Paid YTD	174,000	137,000
Total impaired loans of troubled debt restructurings	771,000
Total impaired loans including troubled debt restructurings	11,847,000		11,569,000
Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	15,821,000		15,172,000
Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	19,500,000		23,054,000
Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	1,300,102,000		1,336,911,000
Residential Real Estate [Member] | One-to-Four Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	401,170,000		426,792,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	206,000		208,000
Total Impaired, with no Reserve, Recorded Investment	6,256,000		7,597,000
Total Impaired, Recorded Investment	6,462,000		7,805,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	206,000		208,000
Total Impaired with no Reserve, Unpaid Principal Balance	7,019,000		8,444,000
Total Impaired, Unpaid Principal Balance, Total	7,225,000		8,652,000
Impaired Loans Receivable, Reserve [Abstract]
Total Impaired with Reserve, Reserve	21,000		23,000
Total Impaired with no Reserve, Reserve	0		0
Impaired Loans, Reserve	21,000		23,000
Impaired Loans Receivable, Cumulative Charge Offs [Abstract]
Total Impaired with Reserve, Cumulative Charge-offs	0		0
Total Impaired with no Reserve, Cumulative Charge-offs	763,000		847,000
Total Impaired, Cumulative Charge-offs	763,000		847,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	207,000	216,000
Total Impaired with no Reserve, Average Recorded Investment	6,294,000	8,265,000
Total Impaired, Average Recorded Investment, Total	6,501,000	8,481,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	4,000	4,000
Total Impaired with no Reserve, Interest Paid YTD	79,000	98,000
Total Impaired, Interest Paid YTD	83,000	102,000
Total impaired loans including troubled debt restructurings	3,816,000		3,265,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	6,462,000		7,804,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	6,164,000		7,667,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	388,544,000		411,321,000
Residential Real Estate [Member] | Multi Family [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	572,165,000		571,948,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		0
Total Impaired, with no Reserve, Recorded Investment	314,000		341,000
Total Impaired, Recorded Investment	314,000		341,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	314,000		352,000
Total Impaired, Unpaid Principal Balance, Total	314,000		352,000
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		11,000
Total Impaired, Cumulative Charge-offs	0		11,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	314,000	656,000
Total Impaired, Average Recorded Investment, Total	314,000	656,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	0	17,000
Total Impaired, Interest Paid YTD	0	17,000
Residential Real Estate [Member] | Multi Family [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	314,000		341,000
Residential Real Estate [Member] | Multi Family [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	272,000		275,000
Residential Real Estate [Member] | Multi Family [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	571,579,000		571,332,000
Residential Real Estate [Member] | Home Equity [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	14,673,000		14,820,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		0
Total Impaired, with no Reserve, Recorded Investment	59,000		63,000
Total Impaired, Recorded Investment	59,000		63,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	59,000		63,000
Total Impaired, Unpaid Principal Balance, Total	59,000		63,000
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	60,000	388,000
Total Impaired, Average Recorded Investment, Total	60,000	388,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	0
Total Impaired with no Reserve, Interest Paid YTD	1,000	4,000
Total Impaired, Interest Paid YTD	1,000	4,000
Residential Real Estate [Member] | Home Equity [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	242,000		248,000
Residential Real Estate [Member] | Home Equity [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	83,000		15,000
Residential Real Estate [Member] | Home Equity [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	14,348,000		14,557,000
Construction and Land [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	57,123,000		77,080,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		0
Total Impaired, with no Reserve, Recorded Investment	43,000		43,000
Total Impaired, Recorded Investment	43,000		43,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	51,000		51,000
Total Impaired, Unpaid Principal Balance, Total	51,000		51,000
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	8,000		8,000
Total Impaired, Cumulative Charge-offs	8,000		8,000
Impaired Loans Receivable, Average Recorded Investment [Abstract]
Total Impaired with Reserve, Average Recorded Investment	0	0
Total Impaired with no Reserve, Average Recorded Investment	43,000	0
Total Impaired, Average Recorded Investment, Total	43,000	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, 2020	43,000		43,000
Construction and Land [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	4,269,000		4,282,000
Construction and Land [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	52,811,000		72,755,000
Commercial Real Estate [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	241,790,000		238,375,000
Impaired Loans Receivable, Recorded Investment [Abstract]
Total Impaired, with Reserve, Recorded Investment	0		0
Total Impaired, with no Reserve, Recorded Investment	6,964,000		7,248,000
Total Impaired, Recorded Investment	6,964,000		7,248,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	6,964,000		7,248,000
Total Impaired, Unpaid Principal Balance, Total	6,964,000		7,248,000
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	5,000
Total Impaired with no Reserve, Average Recorded Investment	6,967,000	349,000
Total Impaired, Average Recorded Investment, Total	6,967,000	354,000
Impaired Loans Receivable, Interest Paid YTD [Abstract]
Total Impaired with Reserve, Interest Paid YTD	0	10,000
Total Impaired with no Reserve, Interest Paid YTD	78,000	4,000
Total Impaired, Interest Paid YTD	78,000	14,000
Total impaired loans including troubled debt restructurings	6,934,000		7,207,000
Commercial Real Estate [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	6,964,000		6,026,000
Commercial Real Estate [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	5,585,000		6,714,000
Commercial Real Estate [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	229,241,000		225,635,000
Consumer [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	698,000		736,000
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, 2020	0		0
Consumer [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	0		0
Consumer [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	698,000		736,000
Commercial [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	47,804,000		45,386,000
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	1,097,000		1,097,000
Total Impaired, Recorded Investment	1,097,000		1,097,000
Impaired Loans Receivable, Unpaid Principal Balance [Abstract]
Total Impaired with Reserve, Unpaid Principal Balance	0		0
Total Impaired with no Reserve, Unpaid Principal Balance	1,097,000		1,097,000
Total Impaired, Unpaid Principal Balance, Total	1,097,000		1,097,000
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	1,097,000	0
Total Impaired, Average Recorded Investment, Total	1,097,000	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	12,000	0
Total Impaired, Interest Paid YTD	12,000	$ 0
Total impaired loans including troubled debt restructurings	1,097,000		1,097,000
Commercial [Member] | Substandard [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	1,796,000		710,000
Commercial [Member] | Watch [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	3,127,000		4,101,000
Commercial [Member] | Pass [Member]
Loans and Leases Receivable [Abstract]
At December 31, 2020	$ 42,881,000		$ 40,575,000

Loans Receivable, Part V (Detai

Loans Receivable, Part V (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)LoanPaymentRestructuring	Mar. 31, 2020RestructuringLoan	Dec. 31, 2020USD ($)Loan
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 11,847,000		$ 11,569,000
Total number of troubled debt restructurings | Loan	9		9
Valuation allowance with respect to troubled debt restructurings	$ 0
Minimum number of consecutive contractual payments received prior to consideration for a return to accrual status | Payment	6
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 11,847,000		$ 11,569,000
Number of loans performing in accordance with modified terms | Loan	9		9
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0
Number of Loans in Default | Loan	0		0
Loans Receivable, Modifications, Total	$ 11,847,000		$ 11,569,000
Number of Loans, Total | Loan	9		9
Data on Troubled Debt Restructuring [Abstract]
Loans modified as a troubled debt restructure	$ 583,000
Number of loans modified as a troubled debt restructuring | Loan	1	0
Number of trouble debt restructuring modified within the past twelve months for which there was a default | Restructuring	0	0
Outstanding loans subject to interest and principal deferrals	$ 910,000
Non accrual Loans [Abstract]
Total non-accrual loans	$ 4,180,000		$ 5,560,000
Ratio of total non-accrual loans to total loans, net of allowance	0.31%		0.40%
Ratio of total non-accrual loans to total assets	0.19%		0.25%
Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 10,759,000		$ 11,037,000
Total number of troubled debt restructurings | Loan	5		6
Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,088,000		$ 532,000
Total number of troubled debt restructurings | Loan	4		3
Interest Reduction and Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 3,206,000		$ 3,236,000
Number of loans performing in accordance with modified terms | Loan	4		4
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0
Number of Loans in Default | Loan	0		0
Loans Receivable, Modifications, Total	$ 3,206,000		$ 3,236,000
Number of Loans, Total | Loan	4		4
Interest Reduction [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 27,000		$ 302,000
Number of loans performing in accordance with modified terms | Loan	1		2
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0
Number of Loans in Default | Loan	0		0
Loans Receivable, Modifications, Total	$ 27,000		$ 302,000
Number of Loans, Total | Loan	1		2
Principal Forbearance [Member]
Troubled Debt Restructurings by Concession Type [Abstract]
Loans Receivable, Modifications, Loans Performing in Accordance with Modified Terms	$ 8,614,000		$ 8,031,000
Number of loans performing in accordance with modified terms | Loan	4		3
Loans Receivable, Modifications, Loans in Default	$ 0		$ 0
Number of Loans in Default | Loan	0		0
Loans Receivable, Modifications, Total	$ 8,614,000		$ 8,031,000
Number of Loans, Total | Loan	4		3
Residential Real Estate [Member] | One-to-Four Family [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 3,816,000		$ 3,265,000
Total number of troubled debt restructurings | Loan	6		5
Non accrual Loans [Abstract]
Total non-accrual loans	$ 3,734,000		$ 5,072,000
Residential Real Estate [Member] | One-to-Four Family [Member] | Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 2,728,000		$ 2,733,000
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	$ 1,088,000		$ 532,000
Total number of troubled debt restructurings | Loan	4		3
Residential Real Estate [Member] | Multi Family [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	$ 314,000		$ 341,000
Residential Real Estate [Member] | Home Equity [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	59,000		63,000
Construction and Land [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	43,000		43,000
Commercial Real Estate [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 6,934,000		$ 7,207,000
Total number of troubled debt restructurings | Loan	2		3
Non accrual Loans [Abstract]
Total non-accrual loans	$ 30,000		$ 41,000
Commercial Real Estate [Member] | Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 6,934,000		$ 7,207,000
Total number of troubled debt restructurings | Loan	2		3
Commercial Real Estate [Member] | Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 0		$ 0
Total number of troubled debt restructurings | Loan	0		0
Consumer [Member]
Non accrual Loans [Abstract]
Total non-accrual loans	$ 0		$ 0
Commercial [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,097,000		$ 1,097,000
Total number of troubled debt restructurings | Loan	1		1
Non accrual Loans [Abstract]
Total non-accrual loans	$ 0		$ 0
Commercial [Member] | Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 1,097,000		$ 1,097,000
Total number of troubled debt restructurings | Loan	1		1
Commercial [Member] | Non-Accruing [Member]
Troubled Debt Restructuring Note, Debtor [Abstract]
Amount of troubled debt restructuring	$ 0		$ 0
Total number of troubled debt restructurings | Loan	0		0

Real Estate Owned (Details)

Real Estate Owned (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Real estate owned, net	$ 150	$ 702	$ 322	$ 748
Transferred from loans receivable	0	0
Sales	(172)	(46)
Write downs	0	0
Other	0	$ 0
Mortgage loans in process of foreclosure	2,300		1,700
One-to-Four Family [Member]
Real Estate [Abstract]
Real estate owned, net	0		0
Multi Family [Member]
Real Estate [Abstract]
Real estate owned, net	0		0
Construction and Land [Member]
Real Estate [Abstract]
Real estate owned, net	150		322
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	$ 150		$ 322

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Mortgage servicing rights [Roll Forward]
Mortgage servicing rights at beginning of the period	$ 5,977,000	$ 282,000
Additions	3,516,000	58,000
Amortization	(663,000)	(51,000)
Sales	0	0
Mortgage servicing rights at end of the period	8,830,000	289,000
Valuation allowance at end of period	0	(53,000)
Mortgage servicing rights at end of the period, net	8,830,000	236,000
Fair value of mortgage servicing rights	13,000,000	236,000
Estimated future servicing rights amortization expense by period [Abstract]
2021	1,132,000
2022	1,400,000
2023	1,216,000
2024	1,108,000
Thereafter	3,974,000
Total	8,830,000
MSR Sales [Abstract]
Loans originated for sale	1,110,000,000
Sales of loans held for sale	1,220,000,000
Generated mortgage banking income	54,400,000
Loans sold on a servicing retained basis	1,260,000,000		$ 871,800,000
Sold mortgage servicing rights	$ 0	$ 0

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
Time deposits, greater than $250,000	$ 114,400	$ 102,600
Summary of the contractual maturities of time deposits [Abstract]
Within one year	594,237
More than one to two years	99,840
More than two to three years	9,718
More than three to four years	886
More than four through five years	1,073
Time deposits	$ 705,754	$ 701,328

Borrowings (Details)

Borrowings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)Advance	Dec. 31, 2020USD ($)
Debt Instruments [Abstract]
Long-term borrowings	$ 490,505	$ 508,074
Total commitment on repurchase agreements	$ 35,000
Percentage of carrying value of qualifying one-to-four family loans	80.00%
Percentage of carrying value of qualifying multi-family loans	75.00%
Percentage of carrying value of qualifying home equity loans	64.00%
FHLBC stock as collateral	$ 26,700	26,700
Federal Home Loan Bank, Chicago [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 4,000	$ 29,000
Weighted average rate	0.00%	0.22%
Federal Home Loan Bank, Chicago Advances [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 490,505	$ 508,074
Weighted average rate	2.06%	1.95%
Repurchase Agreements [Member]
Debt Instruments [Abstract]
Short-term borrowings	$ 16,505	$ 9,074
Weighted average rate	3.25%	3.25%
Short Term Debt Maturing on May 1, 2021 [Member]
Debt Instruments [Abstract]
Maturity date	May 1, 2021
Number of short-term borrowings advances | Advance	1
Long-term borrowings	$ 4,000
FHLB, interest rate	0.00%
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
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago [Member] | First Advance [Member]
Debt Instruments [Abstract]
Number of short-term borrowings advances | Advance	1
FHLB, interest rate	2.16%
Long Term Debt Maturing 2028 [Member] | Federal Home Loan Bank, Chicago [Member] | Second Advance [Member]
Debt Instruments [Abstract]
Number of short-term borrowings advances | Advance	1
FHLB, interest rate	2.40%
Long Term Debt Maturing 2028 [Member] | FHLB Single Call Option in March 2021 [Member]
Debt Instruments [Abstract]
Number of short-term borrowings advances | Advance	2
Long-term borrowings	$ 55,000
FHLB, year of maturity	2028
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] | Second Advance [Member] | Maximum [Member]
Debt Instruments [Abstract]
FHLB, interest rate	2.48%
Long Term Debt Maturing 2028 [Member] | FHLB Quarterly Call Option in April 2021 [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	1
Long Term Debt Maturing 2028 [Member] | FHLB Quarterly Call Option in April 2021 [Member] | Second Advance [Member]
Debt Instruments [Abstract]
FHLB, interest rate	2.34%
Long Term Debt Maturing 2028 [Member] | FHLB Quarterly Call Option [Member]
Debt Instruments [Abstract]
Long-term borrowings	$ 50,000
FHLB, year of maturity	2028
Number of FHLB advances | Advance	1
Long Term Debt Maturing 2028 [Member] | FHLB Quarterly Call Option [Member] | Minimum [Member]
Debt Instruments [Abstract]
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 April 2021 [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 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 [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	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Actual and Required Capital Amounts and Ratios [Abstract]
Total capital (to risk-weighted assets)	$ 446,657	$ 428,972
Tier I capital (to risk-weighted assets)		410,149
Common Equity Tier 1 Capital (to risk-weighted assets)	428,877	410,149
Tier I capital (to average assets)	$ 428,877	$ 410,149
Total capital (to risk-weighted assets) Ratio	0.2707	0.2480
Tier I capital (to risk-weighted assets) Ratio		0.2371
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	0.2600	0.2371
Tier I capital (to average assets) Ratio	0.1977	0.1838
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 131,977	$ 138,390
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes		103,792
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	74,237	77,844
Tier I capital (to average assets), For Capital Adequacy Purposes	$ 86,752	$ 89,238
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	$ 173,220	$ 181,637
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer		147,039
Common Equity Tier I capital (to risk weighted assets) Minimum Capital Adequacy with Capital Buffer	$ 115,480	$ 121,091
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)	$ 396,096	$ 389,519
Tier I capital (to risk-weighted assets)	378,316	370,696
Common Equity Tier 1 Capital (to risk-weighted assets)	378,316	370,696
Tier I capital (to average assets)	378,316	370,696
State of Wisconsin (to total assets)	$ 378,316	$ 370,696
Total capital (to risk-weighted assets) Ratio	0.2401	0.2252
Tier I capital (to risk-weighted assets) Ratio	0.2293	0.2144
Common Equity Tier 1 capital (to risk-weighted assets) Ratio	0.2293	0.2144
Tier I capital (to average assets) Ratio	0.1744	0.1661
State of Wisconsin (to total assets) Ratio	17.24%	16.62%
Total capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 131,977	$ 138,346
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	98,983	103,760
Common Equity Tier I capital (to risk weighted assets), For Capital Adequacy Purposes	74,237	77,820
Tier I capital (to average assets), For Capital Adequacy Purposes	86,752	89,263
State of Wisconsin (to total assets), For Capital Adequacy Purposes	$ 131,644	$ 133,856
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	$ 173,220	$ 181,579
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer	140,226	146,993
Common Equity Tier I capital (to risk weighted assets) Minimum Capital Adequacy with Capital Buffer	$ 115,480	$ 121,053
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	$ 164,971	$ 172,933
Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	131,977	138,346
Common Equity Tier I capital (to risk-weighted assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	107,231	112,406
Tier I capital (to average assets), To Be Well-Capitalized Under Prompt Corrective Action Provisions	$ 108,440	$ 111,579
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)	$ 428,877
Tier I capital (to risk-weighted assets) Ratio	0.2600
Tier I capital (to risk-weighted assets), For Capital Adequacy Purposes	$ 98,983
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	$ 140,226
Tier I capital (to risk weighted assets), Minimum Capital Adequacy with Capital Buffer Ratio	8.50%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Taxes [Abstract]
Income tax expense	$ 6,877	$ 1,928
Effective tax rate	24.40%	24.10%

Commitments, Off-Balance Shee_3

Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities, Commitments and Off-Balance Sheet Arrangements (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Dec. 31, 2020
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Period of home equity loans available to the borrower		10 years
Reserve for losses		$ 2,500	$ 2,900
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]	$ 20,302	23,891
Probable losses		0	0
Commitments to Extend Credit Under Home Equity Lines of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount	[2]	12,767	13,653
Probable losses		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]	65,790	74,173
Unused Portion of Business Lines of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks asset amount		18,221	19,207
Standby Letters of Credit [Member]
Fair Value, Off-Balance Sheet Arrangements, and Contingent Loss [Abstract]
Off-balance sheet risks liability amount		1,246	1,296
Probable losses		$ 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) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Loss Contingencies [Abstract]
Reserve for losses	$ 2.5	$ 2.9

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)Swap	Dec. 31, 2020USD ($)
Forward Commitments to Sell Mortgage Loans [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	$ 754	$ 779.9
Gain (loss) reported as a component of other assets	6.6	5.1
Interest Rate Lock Commitments [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	518.1	486.2
Gain (loss) reported as a component of other assets	5	11.1
Interest Rate Swap [Member] | Dealer Counterparties [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	106.9	107.5
Interest Rate Swap [Member] | Commercial Borrower [Member]
Derivative [Abstract]
Aggregate notional amount of derivatives	106.9	107.5
Interest Rate Swap [Member] | Other Assets [Member] | Commercial Borrower [Member]
Derivative [Abstract]
Derivative asset, notional amount	2.8	3.9
Interest Rate Swap [Member] | Other Liabilities [Member] | Dealer Counterparties [Member]
Derivative [Abstract]
Derivative Liability, Notional Amount	$ 2.8	3.9
Fair Value Hedging [Member]
Derivative [Abstract]
Number of back-to-back swaps in default | Swap	0
Derivative fair value	$ 0	$ 7.2

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares of common stock (in shares)	35,000	113,000
Basic and Diluted Earnings Per Share Calculations [Abstract]
Net income	$ 21,344	$ 6,069
Weighted average shares outstanding (in shares)	23,735,000	25,405,000
Effect of dilutive potential common shares (in shares)	215,000	207,000
Diluted weighted average shares outstanding (in shares)	23,950,000	25,612,000
Basic earnings per share (in dollars per share)	$ 0.90	$ 0.24
Diluted earnings per share (in dollars per share)	$ 0.89	$ 0.24

Fair Value Measurements, Fair V

Fair Value Measurements, Fair Value of Assets and Liabilities Measured On Recurring and Nonrecurring Basis (Details) - USD ($)		Mar. 31, 2021	Dec. 31, 2020
Available for sale securities [Abstract]
Loans held for sale		$ 341,293,000	$ 402,003,000
Recurring [Member]
Available for sale securities [Abstract]
Mortgage-backed securities		24,578,000	25,100,000
Collateralized mortgage obligations, Government sponsored enterprise issued		68,415,000	63,284,000
Collateralized mortgage obligations, Private-label issued		3,130,000	3,665,000
Government sponsored enterprise bonds		2,468,000	2,503,000
Municipal securities		52,241,000	53,614,000
Other debt securities		11,431,000	11,453,000
Loans held for sale		341,293,000	402,003,000
Mortgage banking derivative assets		11,601,000	11,057,000
Interest rate swap assets		2,816,000	3,892,000
Mortgage banking derivatives liabilities		0	5,140,000
Interest rate swap liabilities		2,816,000	3,892,000
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	0
Government sponsored enterprise bonds		0	0
Municipal securities		0	0
Other debt securities		0	0
Loans held for sale		0	0
Mortgage banking derivative assets		0	0
Interest rate swap assets		0	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		24,578,000	25,100,000
Collateralized mortgage obligations, Government sponsored enterprise issued		68,415,000	63,284,000
Collateralized mortgage obligations, Private-label issued		3,130,000	3,665,000
Government sponsored enterprise bonds		2,468,000	2,503,000
Municipal securities		52,241,000	53,614,000
Other debt securities		11,431,000	11,453,000
Loans held for sale		341,293,000	402,003,000
Mortgage banking derivative assets		0	0
Interest rate swap assets		2,816,000	3,892,000
Mortgage banking derivatives liabilities		0	0
Interest rate swap liabilities		2,816,000	3,892,000
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	0
Government sponsored enterprise bonds		0	0
Municipal securities		0	0
Other debt securities		0	0
Loans held for sale		0	0
Mortgage banking derivative assets		11,601,000	11,057,000
Interest rate swap assets		0	0
Mortgage banking derivatives liabilities		0	5,140,000
Interest rate swap liabilities		0	0
Non-Recurring [Member]
Available for sale securities [Abstract]
Impaired loans, net	[1]	185,000	185,000
Real estate owned		150,000	322,000
Mortgage Servicing Rights, Impaired, Valuation Allowance		189,000	189,000
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]	185,000	185,000
Real estate owned		150,000	322,000
Mortgage Servicing Rights, Impaired, Valuation Allowance		$ 189,000	$ 189,000
[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 ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Loans, impaired, outstanding balance	$ 206,000		$ 208,000
Loans, impaired, specific reserve	21,000		23,000
Real estate owned, change in fair value	0	$ 0
Impairment on Mortgage Servicing Rights	77,000		$ 77,000
Mortgage Banking Derivatives, Net [Member]
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Beginning balance	5,917,000	1,835,000
Mortgage derivative gain (loss), net		(3,282,000)
Balance at December 31, 2020		$ (1,447,000)
Mortgage Banking Derivatives, Net [Member] | Recurring [Member]
Assets measured on recurring basis, unobservable input reconciliation [Roll Forward]
Mortgage derivative gain (loss), net	5,684,000
Balance at December 31, 2020	$ 11,601,000

Fair Value Measurements, Valuat

Fair Value Measurements, Valuation Techniques (Details) - Non-Recurring [Member]	Mar. 31, 2021USD ($)
Cost To Service [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Servicing asset	$ 77.01
Cost To Service [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Servicing asset	839.34
Cost To Service [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Servicing asset	82.92
Mortgage Banking Derivatives [Member] | Pricing Models [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 11,601,000
Mortgage Banking Derivatives [Member] | Pricing Models [Member] | Pull Through Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.180
Mortgage Banking Derivatives [Member] | Pricing Models [Member] | Pull Through Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.998
Mortgage Banking Derivatives [Member] | Pricing Models [Member] | Pull Through Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.914
Impaired Loans [Member] | Market Approach [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 206,000
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	$ 150,000
Real Estate Owned [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.348
Real Estate Owned [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.348
Real Estate Owned [Member] | Market Approach [Member] | Discount Rate Applied to Appraisals [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.348
Mortgage Servicing Rights [Member] | Pricing Models [Member]
Fair Value Measurement Inputs [Abstract]
Fair value	$ 12,972,000
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Prepayment Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.081
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Prepayment Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.337
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Prepayment Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.092
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Discount Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.081
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Discount Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.120
Mortgage Servicing Rights [Member] | Pricing Models [Member] | Discount Rate [Member] | Weighted Average [Member]
Fair Value Measurement Inputs [Abstract]
Unobservable Input	0.096

Fair Value Measurements, Balanc

Fair Value Measurements, Balance Sheet Grouping (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Financial Assets [Abstract]
Securities available-for-sale	$ 162,263,000	$ 159,619,000
Loans held for sale	341,293,000	402,003,000
Mortgage servicing rights	13,000,000		$ 236,000
Financial Liabilities [Abstract]
Advance payments by borrowers for taxes	12,048,000	3,522,000
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and cash equivalents	198,401,000	94,767,000
Securities available-for-sale	162,263,000	159,619,000
Loans held for sale	341,293,000	402,003,000
Loans receivable	1,335,423,000	1,375,137,000
FHLB stock	26,720,000	26,720,000
Accrued interest receivable	4,924,000	4,957,000
Mortgage servicing rights	8,830,000	5,977,000
Mortgage banking derivative assets	11,601,000	11,057,000
Interest rate swap assets	2,816,000	3,892,000
Financial Liabilities [Abstract]
Deposits	1,219,691,000	1,184,870,000
Advance payments by borrowers for taxes	12,048,000	3,522,000
Borrowings	490,505,000	508,074,000
Accrued interest payable	1,035,000	1,137,000
Mortgage banking derivative liabilities	0	5,140,000
Interest rate swap liabilities	2,816,000	3,892,000
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	198,401,000	94,767,000
Securities available-for-sale	162,263,000	159,619,000
Loans held for sale	341,293,000	402,003,000
Loans receivable	1,334,335,000	1,374,898,000
FHLB stock	26,720,000	26,720,000
Accrued interest receivable	4,924,000	4,957,000
Mortgage servicing rights	12,972,000	7,075,000
Mortgage banking derivative assets	11,601,000	11,057,000
Interest rate swap assets	2,816,000	3,892,000
Financial Liabilities [Abstract]
Deposits	1,220,776,000	1,186,062,000
Advance payments by borrowers for taxes	12,048,000	3,522,000
Borrowings	514,121,000	545,107,000
Accrued interest payable	1,035,000	1,137,000
Mortgage banking derivative liabilities	0	5,140,000
Interest rate swap liabilities	2,816,000	3,892,000
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and cash equivalents	198,401,000	94,767,000
Securities available-for-sale	0	0
Loans held for sale	0	0
Loans receivable	0	0
FHLB stock	0	0
Accrued interest receivable	4,924,000	4,957,000
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	0	0
Financial Liabilities [Abstract]
Deposits	513,937,000	483,542,000
Advance payments by borrowers for taxes	12,048,000	3,522,000
Borrowings	0	0
Accrued interest payable	1,035,000	1,137,000
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	0
Securities available-for-sale	162,263,000	159,619,000
Loans held for sale	341,293,000	402,003,000
Loans receivable	0	0
FHLB stock	26,720,000	26,720,000
Accrued interest receivable	0	0
Mortgage servicing rights	0	0
Mortgage banking derivative assets	0	0
Interest rate swap assets	2,816,000	3,892,000
Financial Liabilities [Abstract]
Deposits	706,839,000	702,520,000
Advance payments by borrowers for taxes	0	0
Borrowings	514,121,000	545,107,000
Accrued interest payable	0	0
Mortgage banking derivative liabilities	0	0
Interest rate swap liabilities	2,816,000	3,892,000
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	1,334,335,000	1,374,898,000
FHLB stock	0	0
Accrued interest receivable	0	0
Mortgage servicing rights	12,972,000	7,075,000
Mortgage banking derivative assets	11,601,000	11,057,000
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	0	5,140,000
Interest rate swap liabilities	$ 0	$ 0

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)StateSegment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment	2
Number of states products and services are provided | State	21
Number of states the company can lend | State	48
Net Income (Loss) [Abstract]
Net interest income (loss)	$ 13,952	$ 12,526
Provision for loan losses	(1,070)	785
Net interest income (loss) after provision for loan losses	15,022	11,741
Noninterest income	56,199	31,464
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	34,123	24,401
Occupancy, office furniture and equipment	2,565	2,741
FDIC insurance premiums	1,335	1,076
Advertising	824	900
Data processing	971	1,006
Communications	331	338
Professional fees		1,832
Professional fees	(315)
Real estate owned	(12)	11
Loan processing expense	1,335	1,076
Other	3,178	2,903
Total noninterest expenses	43,000	35,208
Income before income taxes	28,221	7,997
Income tax expense	6,877	1,928
Net income	21,344	6,069
Total assets	2,198,011	2,056,676	$ 2,184,587
Holding Company and Other [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	55	(3)
Provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	55	(3)
Noninterest income	(79)	(362)
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	(114)	(154)
Occupancy, office furniture and equipment	0	0
Advertising	0	0
Data processing	6	6
Communications	0	0
Professional fees	15	14
Real estate owned	0	0
Loan processing expense	0	0
Other	57	(229)
Total noninterest expenses	(36)	(363)
Income before income taxes	12	(2)
Income tax expense	(5)	6
Net income	17	(8)
Total assets	(346,105)	(272,986)
Operating Segments [Member] | Community Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	14,247	12,908
Provision for loan losses	(1,100)	750
Net interest income (loss) after provision for loan losses	15,347	12,158
Noninterest income	1,243	1,028
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	4,975	5,168
Occupancy, office furniture and equipment	1,025	1,014
Advertising	209	248
Data processing	511	605
Communications	119	97
Professional fees	194	198
Real estate owned	(12)	11
Loan processing expense	0	0
Other	440	580
Total noninterest expenses	7,461	7,921
Income before income taxes	9,129	5,265
Income tax expense	1,786	1,154
Net income	7,343	4,111
Total assets	2,132,366	2,018,092
Operating Segments [Member] | Mortgage Banking [Member]
Net Income (Loss) [Abstract]
Net interest income (loss)	(350)	(379)
Provision for loan losses	30	35
Net interest income (loss) after provision for loan losses	(380)	(414)
Noninterest income	55,035	30,798
Noninterest expenses [Abstract]
Compensation, payroll taxes, and other employee benefits	29,262	19,387
Occupancy, office furniture and equipment	1,540	1,727
Advertising	615	652
Data processing	454	395
Communications	212	241
Professional fees		1,620
Professional fees	(524)
Real estate owned	0	0
Loan processing expense	1,335	1,076
Other	2,681	2,552
Total noninterest expenses	35,575	27,650
Income before income taxes	19,080	2,734
Income tax expense	5,096	768
Net income	13,984	1,966
Total assets	$ 411,750	$ 311,570

Leases (Details)

Leases (Details)	3 Months Ended
	Mar. 31, 2021USD ($)Location	Mar. 31, 2020USD ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Leases [Abstract]
Number of branch locations | Location	2
Components of Lease Expense [Abstract]
Operating lease cost	$ 770,000	$ 824,000
Variable cost	117,000	109,000
Short-term lease cost	151,000	193,000
Total	1,038,000	$ 1,126,000
Other Information Related to Operating Leases [Abstract]
Operating cash flows from operating leases	859,000
Right-of-use assets	$ 7,100,000
Weighted average remaining lease term - operating leases, in years	3 years 4 months 24 days
Weighted average discount rate - operating leases	5.20%
Operating Lease Liabilities, Payments Due [Abstract]
One year or less	$ 2,742,000
More than one year through two years	2,128,000
More than two years through three years	1,484,000
More than three years through four years	804,000
More than four years through five years	452,000
More than five years	874,000
Total lease payments	8,484,000
Present value discount	(952,000)
Lease liability	$ 7,532,000
ASC Topic 842 [Member]
Other Information Related to Operating Leases [Abstract]
Right-of-use assets				$ 602,000
Initial recognition of lease liabilities				$ 602,000
Plan [Member]
Other Information Related to Operating Leases [Abstract]
Right-of-use assets			$ 13,000
Operating Lease Liabilities, Payments Due [Abstract]
Lease liability			$ 13,000