Melrose Bancorp (MELR) 10-K 15 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 15, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Melrose Bancorp, Inc.
Entity Central Index Key	0001600890
Trading Symbol	MELR
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Public Float			$ 51,100,000
Entity Common Stock, Shares Outstanding		2,440,133

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and due from banks	$ 8,734	$ 8,903
Money market funds	3,387	3,963
Federal funds sold	3,074	4,737
Cash and cash equivalents	15,195	17,603
Interest-bearing time deposits with other banks	675
Investments in available-for-sale securities, at fair value	25,834	26,496
Federal Home Loan Bank stock, at cost	2,285	1,800
Loans, net of allowance for loan losses of $1,323 at December 31, 2018 and $1,134 at December 31, 2017	268,211	251,317
Premises and equipment, net	2,645	1,993
Co-operative Central Bank deposit	881	886
Bank-owned life insurance	6,303	6,090
Accrued interest receivable	778	702
Deferred tax asset, net	266	364
Other assets	881	275
Total assets	323,954	307,526
Deposits:
Noninterest-bearing	17,475	16,180
Interest-bearing	226,581	216,741
Total deposits	244,056	232,921
Other liabilities	683	612
Total liabilities	278,739	262,533
Stockholders' equity:
Common stock, par value $0.01 per share, authorized 15,000,000 shares; issued and outstanding 2,573,024 shares at December 31, 2018 and 2,600,743 shares at December 31, 2017	26	26
Additional paid-in capital	23,153	23,496
Retained earnings	24,627	23,674
Unearned compensation - ESOP (188,638 shares unallocated at December 31, 2018 and 196,184 shares unallocated at December 31, 2017)	(1,886)	(1,961)
Unearned compensation - restricted stock	(317)	(451)
Accumulated other comprehensive (loss)/income	(388)	209
Total stockholders' equity	45,215	44,993
Total liabilities and stockholders' equity	$ 323,954	$ 307,526

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 1,323	$ 1,134
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	2,573,024	2,600,743
ESOP number of shares unallocated	188,638	196,184

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest and dividend income:
Interest and fees on loans	$ 9,875	$ 8,168
Interest and dividends on securities:
Taxable	549	534
Tax-exempt	65	69
Other interest	313	170
Total interest and dividend income	10,802	8,941
Interest expense:
Interest on deposits	2,735	1,853
Interest on Federal Home Loan Bank advances	713	330
Total interest expense	3,448	2,183
Net interest and dividend income	7,354	6,758
Provision for loan losses	189	245
Net interest and dividend income after provision for loan losses	7,165	6,513
Noninterest income:
Fees and service charges	90	88
Gain on sales and calls of available-for-sale securities, net	493	1,385
Income on bank-owned life insurance	160	162
Other income	13	8
Total noninterest income	756	1,643
Noninterest expense:
Salaries and employee benefits	3,406	3,240
Occupancy expense	322	375
Equipment expense	74	45
Data processing expense	432	400
Advertising expense	214	193
Printing and supplies	57	48
FDIC assessment	88	65
Audits and examinations	228	201
Other professional services	355	320
Other expense	370	223
Total noninterest expense	5,546	5,110
Income before income tax expense	2,375	3,046
Income tax expense	605	1,242
Net income	$ 1,770	$ 1,804
Weighted average common shares outstanding:
Basic	2,375,871	2,367,424
Diluted	2,405,954	2,372,297
Earnings per share:
Basic	$ 0.74	$ 0.76
Diluted	$ 0.74	$ 0.76

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 1,770	$ 1,804
Other comprehensive loss, net of tax:
Net unrealized holding (loss) gain on available-for-sale securities	(312)	478
Reclassification adjustment for net realized gains included in net income	(493)	(1,385)
Other comprehensive loss before income tax effect	(805)	(907)
Income tax benefit	208	378
Other comprehensive loss, net of tax	(597)	(529)
Comprehensive income	$ 1,173	$ 1,275

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in-Capital	Retained Earnings	Unearned Compensation- ESOP	Unearned Compensation - Restricted Stock	Accumulated Other Comprehensive (Loss)/Income	Total
Beginning balance at Dec. 31, 2016	$ 26	$ 23,292	$ 21,912	$ (2,037)	$ (585)	$ 696	$ 43,304
Beginning balance, shares at Dec. 31, 2016	2,602,079
Net income			1,804				1,804
Other comprehensive loss, net of tax						(529)	(529)
Restricted stock award expense					134		134
Stock option expense		166					166
Common stock held by ESOP committed to be allocated (7,544 shares annually)		60		76			136
Shares repurchased for tax withholdings on stock-based compensation		(22)					(22)
Shares repurchased for tax withholdings on stock-based compensation, shares	(1,336)
Reclassification adjustment for stranded accumulated other comprehensive income due to tax rate change			(42)			42
Ending balance at Dec. 31, 2017	$ 26	23,496	23,674	(1,961)	(451)	209	44,993
Ending balance, shares at Dec. 31, 2017	2,600,743
Net income			1,770				1,770
Other comprehensive loss, net of tax						(597)	(597)
Dividends paid ($0.34 per share)			(817)				(817)
Restricted stock award expense					134		134
Stock option expense		166					166
Repurchase of common stock		$ (694)					(694)
Repurchase of common stock, shares	(35,600)
Common stock held by ESOP committed to be allocated (7,544 shares annually)		$ 72		$ 75			147
Shares repurchased for tax withholdings on stock-based compensation		(24)					(24)
Shares repurchased for tax withholdings on stock-based compensation, shares	(1,219)
Stock options exercised		137					137
Stock options exercised, shares	9,100
Ending balance at Dec. 31, 2018	$ 26	$ 23,153	$ 24,627	$ (1,886)	$ (317)	$ (388)	$ 45,215
Ending balance, shares at Dec. 31, 2018	2,573,024

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common stock held by ESOP committed to be allocated, shares	7,544	7,546
Dividends paid per share	$ 0.34

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 1,770	$ 1,804
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion	177	144
Gain on sales and calls of available-for-sale securities, net	(493)	(1,385)
Provision for loan losses	189	245
Change in net deferred loan fees/costs	32	(3)
Change in unamortized premiums	65	(113)
Depreciation	149	187
Increase in accrued interest receivable	(76)	(130)
Increase in other assets	(606)	(76)
Increase in other liabilities	71	36
Deferred tax expense	306	134
Income on bank-owned life insurance	(160)	(162)
ESOP expense	147	136
Stock-based compensation expense	300	300
Net cash provided by operating activities	1,871	1,117
Cash flows from investing activities:
Purchases of available-for-sale securities	(7,504)	(4,214)
Proceeds from sales of available-for-sale securities	860	4,498
Proceeds from maturities and calls of available-for-sale securities	6,817	5,385
Purchase of interest-bearing time deposits with other banks	(675)
Purchases of Federal Home Loan Bank stock	(485)	(836)
Decrease (Increase) in Cooperative Central Bank deposit	5	(5)
Loan originations and principal collections, net	(16,886)	(18,785)
Loans purchased	(294)	(19,496)
Capital expenditures	(801)	(932)
Premiums paid on bank-owned life insurance	(53)	(54)
Net cash used in investing activities	(19,016)	(34,439)
Cash flows from financing activities:
Net increase in demand deposits, NOW and savings accounts	5,636	5,640
Net increase in time deposits	5,499	12,515
Proceeds from Federal Home Loan Bank advances	10,000	19,000
Repayment of advances from Federal Home Loan Bank	(5,000)
Cash dividend paid	(817)
Repurchase of Melrose Bancorp, Inc. common stock	(694)
Shares repurchased for tax withholdings on stock-based compensation	(24)	(22)
Stock options exercised	137
Net cash provided by financing activities	14,737	37,133
Net (decrease) increase in cash and cash equivalents	(2,408)	3,811
Cash and cash equivalents at beginning of the year	17,603	13,792
Cash and cash equivalents at end of the year	15,195	17,603
Supplemental disclosures:
Interest paid	3,459	2,184
Income taxes paid	679	1,181
Reclassification adjustment for stranded accumulated other comprehensive income due to tax rate change		$ 42

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1 - NATURE OF OPERATIONS Melrose Bank (the “Bank”) is a state chartered co-operative bank which was incorporated in 1890 and is headquartered in Melrose, Massachusetts. The Bank operates its business from one banking office located in Melrose, Massachusetts. The Bank is engaged principally in the business of attracting deposits from the general public and investing those deposits in commercial and residential real estate loans, and in consumer loans. On October 21, 2014, in accordance with a Plan of Conversion (Conversion), Melrose Bank completed a mutual-to-stock conversion pursuant to which the Bank became a wholly owned subsidiary of Melrose Bancorp, Inc. (Company), a stock holding company incorporated in February 2014. In connection with the conversion, the Company sold 2,723,409 shares of common stock, at an offering price of $10 per share, and issued an additional 106,170 shares of its common stock to the Melrose Cooperative Bank Foundation, resulting in an aggregate issuance of 2,829,579 shares of common stock. The net proceeds from the stock offering, net of offering costs of $1,716,000, amounted to $25,518,000. The Company’s stock began trading on October 22, 2014 on the NASDAQ Capital Market under the symbol “MELR”. As set forth above, in connection with the Conversion, the Bank established and funded the Melrose Cooperative Bank Foundation (Foundation) with 106,170 shares of the Company’s common stock, plus a cash contribution of $300,000. This contribution resulted in recognition of expense of $1,362,000 in the year ended December 31, 2014 based on the $10 per share offering price, plus $300,000 of cash. The Foundation supports charitable causes and community development activities in the Bank’s area of operations. Also, in connection with the Conversion, the Bank established an employee stock ownership plan (ESOP), which purchased 226,366 shares of the Company’s common stock at a price of $10 per share. The Bank, at the time of the Conversion, established a Liquidation Account in an amount equal to the net worth of the Bank as of the date of the latest consolidated statement of financial condition contained in the final prospectus distributed in connection with the Conversion. The function of the Liquidation Account is to establish a priority on liquidation. The Liquidation Account will be maintained by the Company for the benefit of the eligible account holders who continue to maintain deposit accounts with the Bank following the conversion. Each eligible account holder shall, with respect to each deposit account, hold a related inchoate interest in a portion of the Liquidation Account balance, in relation to each deposit account balance at the eligibility record date, or to such balance as it may be subsequently reduced, as hereinafter provided. The initial Liquidation Account balance shall not be increased, and shall be subject to downward adjustment to the extent of any downward adjustment of any subaccount balance of any eligible account holder in accordance with the Regulations of the Division of Banks of the Commonwealth of Massachusetts. In the unlikely event of a complete liquidation of the Bank (and only in such event), following all liquidation payments to creditors (including those to depositors to the extent of their deposit accounts) each eligible account holder shall be entitled to receive a liquidating distribution from the Liquidation Account, in the amount of the then-adjusted subaccount balances for his or her deposit accounts then held, before any liquidating distribution may be made to any holder of the Bank’s capital stock.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary the Bank, and the Bank's wholly-owned subsidiary, MCBSC, Inc., which is used to hold investment securities. All significant intercompany accounts and transactions have been eliminated in the consolidation. The accounting and reporting policies of the Company and its subsidiary conform to accounting principles generally accepted in the United States of America (GAAP) and predominant practices within the banking industry. The consolidated financial statements were prepared using the accrual basis of accounting. The significant accounting policies are summarized below to assist the reader in better understanding the consolidated financial statements and other data contained herein. USE OF ESTIMATES: In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the determination of whether declines in fair value below the cost of investments are temporary. SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK: Most of the Company's business activity is with customers located in New England. There are no concentrations of credit to borrowers that have similar economic characteristics. The majority of the Company's loan portfolio is comprised of loans collateralized by real estate located in Massachusetts. CASH AND CASH EQUIVALENTS: Cash and cash equivalents include cash on hand, amounts due from banks and federal funds sold with original maturities of less than ninety days. INTEREST-BEARING TIME DEPOSITS WITH OTHER BANKS: Interest-bearing time deposits with other banks mature within 5 years and are carried at cost. SECURITIES: Investments in debt securities are adjusted for amortization of premiums and accretion of discounts computed so as to approximate the interest method. Gains or losses on sales of investment securities are computed on a specific identification basis. The Company classifies all debt and equity securities as available-for-sale. Available-for-sale securities are carried at fair value in the consolidated balance sheets. Unrealized holding gains and losses are not included in earnings, but are reported as a net amount (less expected tax) in a separate component of stockholders' equity until realized. The security classification may be modified after acquisition only under certain specified conditions. For any debt security with a fair value less than its amortized cost basis, the Company will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, the Company will recognize a full impairment charge to earnings. For all other debt securities that are considered other-than-temporarily impaired and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. The other-than-temporary impairment related to all other factors will be recorded in other comprehensive loss. Declines in marketable equity securities below their cost that are deemed other-than-temporary are reflected in earnings as realized losses. FEDERAL HOME LOAN BANK STOCK: The Bank is a member of the Federal Home Loan Bank (FHLB). The FHLB is a cooperative that provides services, including funding in the form of advances, to its member banking institutions. As a requirement of membership, the Bank must own a minimum amount of FHLB stock, calculated periodically based primarily on its level of borrowings from the FHLB. No market exists for shares of the FHLB and therefore, they are carried at par value. Dividends are reported as income. FHLB stock may be redeemed at par value five years following termination of FHLB membership, subject to limitations which may be imposed by the FHLB or its regulator, the Federal Housing Finance Board, to maintain capital adequacy of the FHLB. Management evaluates the Company's investment in FHLB stock for other-than-temporary impairment at least on a quarterly basis and more frequently when economic or market conditions warrant such evaluation. Based on its most recent analysis of the FHLB as of December 31, 2018, management deems its investment in FHLB stock to be not other-than-temporarily impaired. LOANS: Loans receivable that management has the intent and ability to hold until maturity or payoff are reported at their outstanding principal balances adjusted for amounts due to borrowers on outstanding home equity lines of credit, commercial lines of credit and construction loans, any charge-offs, the allowance for loan losses and any deferred costs, net on originated loans, or unamortized premiums on purchased loans. Loan origination and commitment fees and certain direct origination costs are deferred, and the net amount amortized as an adjustment of the related loan's yield. The Company is amortizing these amounts over the expected lives of the related loans. Residential real estate loans are generally placed on nonaccrual when reaching 90 days past due or are in the process of foreclosure. All closed-end consumer loans 90 days or more past due and any equity line in the process of foreclosure are placed on nonaccrual status. Secured consumer loans are written down to realizable value and unsecured consumer loans are charged off upon reaching 120 or 180 days past due depending on the type of loan. Commercial real estate loans and commercial business loans which are 90 days or more past due are generally placed on nonaccrual status, unless secured by sufficient cash or other assets immediately convertible to cash. When a loan has been placed on nonaccrual status, previously accrued and uncollected interest is reversed against interest on loans. A loan can be returned to accrual status when collectability of principal is reasonably assured and the loan has performed for a period of time, generally six months. Cash receipts of interest income on impaired loans are credited to principal to the extent necessary to eliminate doubt as to the collectability of the net carrying amount of the loan. Some or all of the cash receipts of interest income on impaired loans are recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered. ALLOWANCE FOR LOAN LOSSES: The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: one- to four-family residential real estate, home equity loans and lines of credit, commercial real estate, construction, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company's policies or methodology pertaining to the general component of the allowance for loan losses during the years ending December 31, 2018 and 2017. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: One- to four-family residential real estate: The Company generally does not originate loans with a loan-to-value ratio greater than 80% and does not grant subprime loans. Loans with loan-to-value ratios greater than 80% require private mortgage insurance, are collateralized primarily by owner-occupied residential real estate, and repayment is dependent on the credit quality of the individual borrower. Loans in this segment also include home equity loans and lines of credit. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Commercial real estate: Loans in this segment are primarily income-producing properties throughout Massachusetts. The underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Loans in this segment also include loans secured by multifamily dwellings. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction: Loans in this segment primarily include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Consumer: Loans in this segment are generally secured and repayment is dependent on the credit quality of the individual borrower. Loans in this segment include auto loans and other consumer loans. Allocated Component: The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan's effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and one- to four-family residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are initially classified as impaired. Unallocated Component: An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. PREMISES AND EQUIPMENT: Land is carried at cost. Buildings and equipment are stated at cost, less accumulated depreciation. Cost and related allowances for depreciation of premises and equipment retired or otherwise disposed of are removed from the respective accounts with any gain or loss included in income or expense. Depreciation is calculated principally on the straight-line method over the estimated useful lives of the assets. Estimated lives are 15 to 30 years for buildings and 3 to 10 years for furniture and equipment. Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than its carrying amount. In that event, the Company records a loss for the difference between the carrying amount and the fair value of the asset based on quoted market prices, if applicable, or a discounted cash flow analysis. BANK-OWNED LIFE INSURANCE: The Company has purchased insurance policies on the lives of certain directors, executive officers and employees. Bank-owned life insurance policies are reflected on the consolidated balance sheets at cash surrender value. Changes in net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest income on the consolidated statements of income and are not subject to income taxes. ADVERTISING: The Company directly expenses costs associated with advertising as they are incurred. INCOME TAXES: The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company's assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. A valuation allowance is established against deferred tax assets when, based upon the available evidence including historical and projected taxable income, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company does not have any uncertain tax positions at December 31, 2018 or 2017 which require accrual or disclosure. The Company accounts for interest and penalties related to uncertain tax positions as part of its provision for income taxes. No interest or penalties were recorded for the years ended December 31, 2018 and 2017. EMPLOYEE STOCK OWNERSHIP PLAN: Compensation expense for the Employee Stock Ownership Plan ("ESOP") is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair value of the shares during the period. Unearned compensation applicable to the ESOP is reflected as a reduction of stockholders' equity in the consolidated balance sheets. The difference between the average fair value and the cost of shares allocated by the ESOP is recorded as an adjustment to additional paid-in capital. STOCK-BASED COMPENSATION: The Company recognizes stock-based compensation based on the grant-date fair value of the award. Forfeitures are recognized when they occur. The Company values share-based stock option awards granted using the Black-Scholes option-pricing model. The Company recognizes compensation expense for its awards on a straight-line basis over the requisite service period for the entire award (straight-line attribution method), ensuring that the amount of compensation cost recognized at any date at least equals the portion of the grant-date fair value of the award that is vested at that time. EARNINGS PER SHARE (EPS): When presented, basic EPS is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For the purposes of computing diluted EPS, the treasury stock method is used. Unallocated ESOP shares and unearned shares of restricted stock are not deemed outstanding for earnings per share calculations. The calculation of basic and diluted EPS is presented below. Year Ended Year Ended (Dollars in thousands, except earnings per share) Net income $ 1,770 $ 1,804 Basic Common Shares: Weighted average common shares outstanding 2,593,248 2,601,223 Weighted average shares - unearned restricted stock (24,965 ) (33,843 ) Weighted average unallocated ESOP shares (192,412 ) (199,956 ) Basic weighted average shares outstanding 2,375,871 2,367,424 Dilutive effect of unvested restricted stock awards 5,383 4,873 Dilutive effect of stock options (1) 24,700 - Diluted weighted average shares outstanding 2,405,954 2,372,297 Basic earnings per share $ 0.74 $ 0.76 Diluted earnings per share (1) $ 0.74 $ 0.76 (1) Options to purchase 224,200 shares, representing all outstanding options, were not included in the computation of diluted earnings per share for the year ended December 31, 2017 because the effect was anti-dilutive. FAIR VALUES OF FINANCIAL INSTRUMENTS: Accounting Standards Codification (ASC) 825, "Financial Instruments," requires that the Company disclose the estimated fair value for its financial instruments. Fair value methods and assumptions used by the Company in estimating its fair value disclosures are as follows: Cash and cash equivalents: The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents approximate those assets' fair values. Interest-bearing time deposits with other banks: Fair values for interest-bearing time deposits are estimated using discounted cash flow analyses based on the individual underlying instrument's current rate of interest. Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans receivable: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificate accounts are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on certificate accounts. Federal Home Loan Bank advances: The fair values of FHLB advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates for similar types of borrowing arrangements. RECENT ACCOUNTING PRONOUNCEMENTS: As an "emerging growth company," as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, the consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards. As of December 31, 2018, there is no significant difference in the comparability of the financial statements as a result of this extended transition period. The extended transition period for an emerging growth company is five years, and the Company's emerging growth status will end on December 31, 2019. In May 2014, the Financial Accounting Standards Board (FASB) issued amendments to Accounting Standards Codification (ASC) section 606 "Revenue from Contracts with Customers" through issuance of ASU 2014-09, "Revenue from Contracts with Customers." In August 2015, the FASB issued ASU 2015-14, "Revenue from Contracts with Customers (Topic 606)" which deferred the effective date by one year. The guidance in these updates affects any entity that either enters in contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to the customers in the amount that reflects consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, and timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgements and changes in judgements, and assets recognized from the cost to obtain of fulfill a contract. The amendments in these updates are effective for interim and annual reporting periods beginning after December 15, 2018, and interim periods within those periods. Since the standard does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new standard will not impact revenue most closely associated with financial instruments, including interest income and expense. The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASUs, including customer service fees. Based on this assessment, the Company concluded that ASU 2014-09 will not materially impact the method in which the Company currently recognizes revenue for these revenue streams. The Company also completed its evaluation of certain costs related to these revenue streams to determine whether such costs should be presented as expenses or contra-revenue (i.e. gross vs. net). Based on this assessment, the Company will not materially change the method in which it recognizes these costs. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments in this ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and makes targeted improvements to GAAP as follows: 1. Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, the entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same manner. 2. Simplify the impairment assessment of equity investments without determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3. Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4. Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5. Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6. Require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7. Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. Under the extended transition period for an emerging growth company, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of item 5 above is permitted as of the beginning of fiscal years or interim periods for which financial statements have not been issued. Early adoption of all other amendments in this ASU is not permitted. The adoption of ASU No. 2016-01 will not have a significant impact on the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." The ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. This update will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted in interim and annual reporting periods beginning after December 15, 2018. The Company has formed a committee to assess the implications of this new pronouncement and is considering a software solution for preparing the allowance for loan loss calculation and related reports that will provide the Company with stronger data integrity, ease and efficiency in the allowance for loan loss preparation. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, "Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." ASU 2018-02 was issued to address the income tax accounting treatment of the stranded tax effects within other comprehensive income due to the prohibition of backward tracing due to an income tax rate change that was initially recorded in other comprehensive income. This issue came about from the enactment of the Tax Cuts and Jobs Act on December 22, 2017 that changed the Company's tax rate from 34% to 21%. The ASU changed the current accounting whereby an entity may elect to reclassify the stranded tax effect from other accumulated other comprehensive income to retained earnings. The ASU is effective for periods beginning after December 15, 2018 although early adoption is permitted. The Company adopted ASU 2018-02 as of December 31, 2017 and reclassified $42,000 from accumulated other comprehensive income to retained earnings. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to Disclosure Requirements for Fair Value Measurement." The objective of this update is to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by generally accepted accounting principles (GAAP) that is most important to users of each entity's financial statements. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, "Fair Value Measurement", based on the concepts in the Concepts Statements, including the consideration of costs and benefits. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for removal or modification of disclosures upon issuance of this update and delayed adoption of the disclosures until their effective date. The adoption of this ASU is not expected to have a material effect on the Company's consolidated financial statements.

Interest-Bearing Time Deposits

Interest-Bearing Time Deposits with Other Banks	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Interest-Bearing Time Deposits with Other Banks	NOTE 3 - INTEREST-BEARING TIME DEPOSITS WITH OTHER BANKS At December 31, 2018, the Company’s interest-bearing time deposits with other banks mature as follows: (In Thousands) Due in one year or less $ - Due in one year through three years 225 Due in three years through five years 450 $ 675

Investments in Available-For-Sa

Investments in Available-For-Sale Securities	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN AVAILABLE-FOR-SALE SECURITIES	NOTE 4 - INVESTMENTS IN AVAILABLE-FOR-SALE SECURITIES Debt and equity securities have been classified in the consolidated balance sheets according to management’s intent. The amortized cost basis of securities and their approximate fair values are as follows as of December 31: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) December 31, 2018 U.S. Government and federal agency obligations $ 4,026 $ - $ 66 $ 3,960 Debt securities issued by states of the United States and political subdivisions of the states 2,625 1 29 2,597 Corporate bonds and notes 13,791 5 201 13,595 Preferred stock 2,000 - 124 1,876 Asset-backed securities 975 - 43 932 Mortgage-backed securities 1,200 1 42 1,159 Marketable equity securities 1,719 1 5 1,715 $ 26,336 $ 8 $ 510 $ 25,834 December 31, 2017: U.S. Government and federal agency obligations $ 5,390 $ - $ 65 $ 5,325 Debt securities issued by states of the United States and political subdivisions of the states 2,898 12 29 2,881 Corporate bonds and notes 11,364 7 77 11,294 Preferred stock 3,000 13 - 3,013 Mortgage-backed securities 1,495 - 47 1,448 Marketable equity securities 2,046 490 1 2,535 $ 26,193 $ 522 $ 219 $ 26,496 The scheduled maturities of debt securities as of December 31, 2018 are as follows: Fair (In Thousands) Due within one year $ 2,243 Due after one year through five years 16,072 Due after five years through ten years 1,620 Due after ten years 1,215 Asset-backed securities 932 Mortgage-backed securities 1,159 $ 23,241 Not included in the maturity table above is preferred stock with no stated maturity of $878,000 at December 31, 2018. There were no securities of issuers whose aggregate carrying amount exceeded 10% of stockholders’ equity at December 31, 2018. During the year ended December 31, 2018, proceeds from the sales of available-for-sale securities amounted to $860,000. The gross realized gains on these sales amounted to $508,000 and there were gross realized losses of $15,000. The tax expense applicable to these net realized gains amounted to $130,000. During the year ended December 31, 2017, proceeds from the sales of available-for-sale securities amounted to $4.5 million. The gross realized gains on these sales amounted to $1.4 million and there were no gross realized losses. The tax expense applicable to these net realized gains amounted to $490,000. The Company had no pledged securities as of December 31, 2018 and December 31, 2017. The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more, and are not other-than-temporarily impaired, are as follows as of December 31: Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) December 31, 2018 U.S. Government and federal agency obligations $ 975 $ 14 $ 2,985 $ 52 $ 3,960 $ 66 Debt securities issued by states of the United States and political subdivisions of the states 1,185 12 1,048 17 2,233 29 Corporate bonds and notes 5,882 80 6,224 121 12,106 201 Preferred stock 1,876 124 - - 1,876 124 Asset-backed securities 932 43 - - 932 43 Mortgage-backed securities - - 924 42 924 42 Marketable equity securities - - 492 5 492 5 Total temporarily impaired securities $ 10,850 $ 273 $ 11,673 $ 237 $ 22,523 $ 510 December 31, 2017 U.S. Government and federal agency obligations $ 2,855 $ 20 $ 2,470 $ 45 $ 5,325 $ 65 Debt securities issued by states of the United States and political subdivisions of the states 991 6 535 23 1,526 29 Corporate bonds and notes 4,467 24 3,946 53 8,413 77 Mortgage-backed securities 453 6 995 41 1,448 47 Marketable equity securities 485 1 - - 485 1 Total temporarily impaired securities $ 9,251 $ 57 $ 7,946 $ 162 $ 17,197 $ 219 The Company conducts periodic reviews of investment securities with unrealized losses to evaluate whether the impairment is other-than-temporary. The Company’s review for impairment generally includes a determination of the cause, severity and duration of the impairment; and an analysis of both positive and negative evidence available. The Company also determines if it has the ability and intent to hold the investment for a period of time sufficient to allow for anticipated recovery to cost basis. Based on the Company’s recent review of securities in the investment portfolio, management deemed securities with unrealized losses as of December 31, 2018 to be temporarily impaired and has the ability and intent to hold these securities until recovery to cost basis occurs. A summary of this review is as follows: Unrealized losses on U.S. Government and federal agency obligations amounted to $66,000 and consisted of eight securities, seven of which had unrealized losses that were each individually less than 3.0% of amortized cost basis, and one of which had an unrealized loss of 5.0% of amortized cost basis. Unrealized losses on municipal bonds amounted to $29,000 and consisted of six securities, four of which had unrealized losses that were each individually less than 1% of amortized cost basis, and two of which had unrealized losses of 2.3% and 3.7% of amortized cost basis. Unrealized losses on corporate bonds and notes amounted to $201,000 and consisted of twenty securities, fifteen of which had unrealized losses that were 2% or less of amortized cost basis, and five of which had unrealized losses that were each individually between 2% and 4.5% of amortized cost basis. Unrealized losses on preferred stock amounted to $124,000 and consisted of two securities, one with an unrealized loss of 0.2% of amortized cost basis and the other with an unrealized loss of 12.2% of amortized cost basis. Unrealized losses on asset-backed securities amounted to $43,000 and consisted of four securities, all with unrealized losses from 0.5% to 6.4% of amortized cost basis. Unrealized losses on mortgage-backed securities amounted to $42,000 and consisted of four securities, all with unrealized losses from 3.6% to 5.4% of amortized cost basis. Unrealized losses on marketable equity securities amounted to $5,000 and consisted of one equity security with an unrealized loss of 0.9% of amortized cost basis. The unrealized losses on all of these debt securities were primarily due to changes in interest rates. The unrealized loss on equity securities was primarily due to market fluctuations. In regard to corporate debt, the Company also considers the issuer’s current financial condition and its ability to make future scheduled interest and principal payments on a timely basis in assessing other-than-temporary impairment. During 2018 and 2017, there were there were no available-for-sale securities deemed to be other than temporarily impaired.

Loans

Loans	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
LOANS	NOTE 5 - LOANS Loans consisted of the following: December 31, December 31, 2018 2017 (In Thousands) Real estate loans: One-to four-family residential $ 186,287 $ 189,763 Home equity loans and lines of credit 13,565 11,585 Commercial 58,780 34,686 Construction 10,441 15,853 Consumer loans 38 44 Total loans 269,111 251,931 Allowance for loan losses (1,323 ) (1,134 ) Deferred loan costs, net 3 35 Unamortized premiums 420 485 Net loans $ 268,211 $ 251,317 The following tables set forth information on the allowance for loan losses at and for the years ended December 31, 2018 and 2017: Real Estate: One- to four- family Residential Home Equity Loans and Lines of Credit Commercial Construction Consumer Loans Unallocated Total (In Thousands) Year Ended December 31, 2018 Allowance for loan losses: Beginning balance $ 481 $ 52 $ 472 $ 107 $ 1 $ 21 $ 1,134 Charge offs - - - - - - - Recoveries - - - - - - - (Benefit)/provision (16 ) 8 229 (23 ) - (9 ) 189 Ending balance $ 465 $ 60 $ 701 $ 84 $ 1 $ 12 $ 1,323 At December 31, 2018 Allowance for loan losses: Ending Balance: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Ending balance: Collectively evaluated for impairment 465 60 701 84 1 12 1,323 Total allowance for loan losses ending balance $ 465 $ 60 $ 701 $ 84 $ 1 $ 12 $ 1,323 Loans: Ending balance: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Ending balance: Collectively evaluated for impairment 186,287 13,565 58,780 10,441 38 - 269,111 Total loans ending balance $ 186,287 $ 13,565 $ 58,780 $ 10,441 $ 38 $ - $ 269,111 Real Estate: One- to four- family Residential Home Equity Loans and Lines of Credit Commercial Construction Consumer Loans Unallocated Total Year ended December 31, 2017 Allowance for loan losses: Beginning balance $ 418 $ 49 $ 276 $ 117 $ 1 $ 29 $ 890 Charge offs - - - - (1 ) - (1 ) Recoveries - - - - - - - Provision (benefit) 63 3 196 (10 ) 1 (8 ) 245 Ending balance $ 481 $ 52 $ 472 $ 107 $ 1 $ 21 $ 1,134 At December 31, 2017 Allowance for loan losses: Ending Balance: Individually evaluated for impairment $ 8 $ - $ - $ - $ - $ - $ 8 Ending balance: Collectively evaluated for impairment 473 52 472 107 1 21 1,126 Total allowance for loan losses ending balance $ 481 $ 52 $ 472 $ 107 $ 1 $ 21 $ 1,134 Loans: Ending balance: Individually evaluated for impairment $ 100 $ - $ - $ - $ - $ - $ 100 Ending balance: Collectively evaluated for impairment 189,663 11,585 34,686 15,853 44 - 251,831 Total loans ending balance $ 189,763 $ 11,585 $ 34,686 $ 15,853 $ 44 $ - $ 251,931 The following tables set forth information regarding nonaccrual loans and past-due loans as of December 31: 30 - 59 60 - 89 90 Days or More Past Due Total Past Due Total Total 90 Days or More Past Due and Accruing Non- (In Thousands) At December 31, 2018 Real estate loans: One-to four-family residential $ 714 $ - $ - $ 714 $ 185,573 $ 186,287 $ - $ 348 Home equity loans and lines of credit - - - - 13,565 13,565 - - Commercial - - - - 58,780 58,780 - - Construction - - - - 10,441 10,441 - - Consumer loans - - - - 38 38 - - Total $ 714 $ - $ - $ 714 $ 268,397 $ 269,111 $ - $ 348 At December 31, 2017 Real estate loans: One-to four-family residential $ 295 $ 177 $ - $ 472 $ 189,291 $ 189,763 $ - $ 189 Home equity loans and lines of credit 189 - - 189 11,396 11,585 - - Commercial - - - - 34,686 34,686 - - Construction - - - - 15,853 15,853 - - Consumer loans - - - - 44 44 - - Total $ 484 $ 177 $ - $ 661 $ 251,270 $ 251,931 $ - $ 189 During the year ended December 31, 2018 there were no loans that met the definition of an impaired loan in ASC 310-10-35. As of and during the year ended December 31, 2017 there was one, one- to four-family residential loan with an unpaid principal balance of $100,000, that met the definition of an impaired loan in ASC 310-10-35. During the year ended December 31, 2018 there were no loans that met the definition of a troubled debt restructured loan. During the year ended December 31, 2017 the same impaired one, one- to four-family residential loan with an unpaid principal balance of $100,000, also met the definition of a troubled debt restructure. As of December 31, 2017, the loan had a specific reserve of $8,000. During the years ended December 31, 2018 and 2017, there were no troubled debt restructure loans that subsequently defaulted within 12 months of modification. In addition, there are no commitments to lend additional funds for loans modified as a troubled debt restructure. At December 31, 2018 and 2017, there were no consumer mortgage loans collateralized by residential real estate property in the process of foreclosure. As of December 31, 2018 and 2017, the Bank had no foreclosed real estate owned. Credit Quality Information The Company has established an 11 point internal loan rating system for commercial real estate and construction loans. For residential real estate and consumer loans, the Company initially assesses credit quality based upon the borrower’s ability to pay and subsequently monitors these loans based on the borrower’s ability to pay. The risk rating system will assist the Company in better understanding the risk inherent in each loan. The loan ratings are as follows: Loans rated 1: Secured by cash collateral or highly liquid diversified marketable securities. Loans rated 2 – 3: Strongest quality loans in the portfolio not secured by cash. Defined by consistent, solid profits, strong cash flow and are well secured. Very little vulnerability to changing economic conditions and compare favorably to their industry. Loans rated 4 – 5: These loans are pass rated. Borrower will show average to strong cash flow, strong to adequate collateral coverage, and will have a generally sound balance sheet. Inclusive in the 5 rating are all open and closed – end residential and retail loans which are paying as agreed. Loans rated 6: Loans with above average risk but still considered pass. Generally this rating is reserved for projects currently under construction or borrowers with modest cash flow, although still meeting all loan covenants. Loans rated 6W: Contain all the risks of a 6 rated credit but have an inherent weakness that requires close monitoring. This rating also generally includes open and closed-end residential and retail loans which are greater than 30 days past due but display no other inherent weakness. Loans rated 7: Considered special mention. Potential weaknesses which warrant management’s close attention. If weaknesses are uncorrected, repayment prospects may be weakened. This is typically a transitional rating. Loans rated 8: Considered substandard. There is a likelihood of loss if the deficiencies are not corrected. Generally, open and closed – end retail loans, as well as automotive and other consumer loans past 90 cumulative days from the contractual due date should be classified as an 8. Loans rated 9: Borrower has a pronounced weakness and all current information indicates collection or liquidation of all debts in full is improbable and highly questionable. Loans rated 10: Uncollectable and a loss will be taken. Open and closed – end loans secured by residential real estate that are beyond 180 days past due will be assessed for value and any outstanding loan balance in excess of said value, less cost to sell, will be classified as a 10. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate and construction loans over $350,000. As of December 31, 2018, there were no one- to four- family residential real estate loans that had a risk rating of “8 - substandard.” There were three, one- to four- family residential real estate loans with a total balance of $448,000 with a risk rating of “6W”. All other loans outstanding had a risk rating of “1 to 6 - pass.” As of December 31, 2017, there were no one- to four- family residential real estate loans that had a risk rating of “8 - substandard.” There were three, one- to four- family residential real estate loans with a total balance of $472,000 with a risk rating of “6W,” and one special mention one- to four- family residential real estate loan with a total balance of $99,000. All other loans outstanding had a risk rating of “1 to 6 - pass.”

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	NOTE 6 - PREMISES AND EQUIPMENT The following is a summary of premises and equipment as of December 31: December 31, December 31, 2018 2017 (In Thousands) Land $ 393 $ 393 Building and improvements 3,305 2,070 Construction in process - 641 Furniture and equipment 643 553 Data processing equipment 477 360 4,818 4,017 Accumulated depreciation (2,173 ) (2,024 ) $ 2,645 $ 1,993

Deposits

Deposits	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
DEPOSITS	NOTE 3 - INTEREST-BEARING TIME DEPOSITS WITH OTHER BANKS At December 31, 2018, the Company’s interest-bearing time deposits with other banks mature as follows: (In Thousands) Due in one year or less $ - Due in one year through three years 225 Due in three years through five years 450 $ 675

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances	12 Months Ended
	Dec. 31, 2018
Federal Home Loan Bank Advances [Abstract]
Federal Home Loan Bank Advances	NOTE 8 - FEDERAL HOME LOAN BANK ADVANCES Advances consist of funds borrowed from the Federal Home Loan Bank of Boston (FHLB). Maturities of advances from the FHLB for the years ending after December 31, 2018 are summarized as follows (in thousands): 2019 $ 9,000 2020 16,000 2021 9,000 $ 34,000 Borrowings from the FHLB are secured by a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one-to-four family properties, certain investment securities and other qualified assets. The remaining maximum borrowing capacity with the FHLB at December 31, 2018 was approximately $72.2 million subject to the purchase of additional FHLB stock. The Company had outstanding FHLB borrowings of $34.0 million at December 31, 2018. Additionally, at December 31, 2018, the Company had the ability to borrow up to $5.0 million on a Federal Funds line of credit with the Co-Operative Central Bank. At December 31, 2018, the interest rates on FHLB advances ranged from 1.42% to 2.78%. At December 31, 2018, the weighted-average interest rate on FHLB advances was 1.99%. At December 31, 2017, the interest rates on FHLB advances ranged from 1.42% to 2.37%. At December 31, 2017, the weighted-average interest rate on FHLB advances was 1.78%.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9 - INCOME TAXES The components of income tax expense are as follows for the years ended December 31: Years Ended December 31, 2018 2017 (In Thousands) Current: Federal $ 252 $ 857 State 47 251 299 1,108 Deferred: Federal 214 (12 ) Change in federal tax rate - 181 State 92 (11 ) Change in valuation allowance - (24 ) 306 134 Total income tax expense $ 605 $ 1,242 The reasons for the differences between the statutory federal income tax rates and the effective tax rates are summarized as follows for the years ended December 31: Years Ended December 31, 2018 2017 % of Income % of Income Federal income tax at statutory rate 21.0 % 34.0 % State tax, net of federal tax benefit 4.6 5.2 Change in valuation allowance - (0.8 ) Change in tax rate - 5.9 Dividends received deduction (0.2 ) (0.5 ) Bank-owned life insurance (1.4 ) (1.8 ) Credits - (2.3 ) Stock compensation 0.3 1.1 Tax exempt income (0.8 ) (1.0 ) ESOP 0.6 0.7 Other 1.4 0.3 Effective tax rates 25.5 % 40.8 % The Company had gross deferred tax assets and gross deferred tax liabilities as follows as of December 31: December 31, 2018 2017 (In Thousands) Deferred tax assets: Allowance for loan losses $ 372 $ 319 Deferred compensation 108 83 Security writedowns 5 5 ESOP 23 16 Stock based compensation 61 47 Accrued expenses 44 31 Contribution to Melrose Cooperative Bank Foundation 175 204 Net unrealized holding loss on available-for-sale securities 114 - Gross deferred tax assets 902 705 Valuation allowance (66 ) (66 ) Gross deferred tax assets, net of valuation allowance 836 639 Deferred tax liabilities: Accelerated depreciation (561 ) (181 ) Prepaid expenses (9 ) - Net unrealized holding gain on available- for-sale securities - (94 ) Gross deferred tax liabilities (570 ) (275 ) Net deferred tax asset $ 266 $ 364 In connection with its initial public offering, the Company donated common stock and cash in the amount of $1,362,000 to the Melrose Cooperative Bank Foundation. As of December 31, 2018, the Company had a remaining gross deferred tax asset of $175,000. A valuation allowance of $66,000 has been established against the deferred tax assets related to the uncertain utilization of the charitable contribution carryforward created primarily by the donation to the Foundation. The judgment applied by management considers the likelihood that sufficient taxable income will be realized within the carryforward period in light of its tax planning strategies and changes in market conditions. The charitable contribution carryforward of $686,000 at December 31, 2018 expires in 2019 and the related tax benefit, net of the valuation allowance, included in net deferred tax assets is $107,000. It is the Company's policy to provide for uncertain tax positions and the related interest and penalties based upon management's assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of December 31, 2018 and 2017, there were no material uncertain tax positions related to federal and state income tax matters. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for the years ended December 31, 2015 through December 31, 2018. Interest and penalties, if any, are recorded as income tax expense. On December 22, 2017, the U.S. government enacted the Tax Cuts and Jobs Act (TCJA), a comprehensive tax legislation which, among other things, reduced the federal income tax rate for C corporations to 21% effective January 1, 2018. The TCJA makes broad and complex changes to the Internal Revenue Code which will impact the Company, including reduction of the corporate income tax rate as well as introduction of business-related exclusions, deductions, and credits. The effects of the TCJA have been recorded in the fourth quarter 2017. As a result of the reduction of the Company's corporate income tax rate from 34% to 21% under the TCJA, the Company revalued its net deferred tax assets at December 31, 2017 and recognized an $181,000 tax expense.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2018
Borrowed Funds Textual [Abstract]
Benefit Plans	NOTE 10 - BENEFIT PLANS 401(k) Savings Plan The Company participates in a 401(k) savings plan through Pentegra. Eligible employees may contribute up to 100% of their salary, subject to IRS limitations, which can be matched up to 5% by the Company on a dollar for dollar basis. The Company's expense under this 401(k) plan was $84,000 and $82,000 for the years ended December 31, 2018 and 2017, respectively. Supplemental Executive Retirement Benefits Effective January 1, 2014, the Company established a Supplemental Executive Retirement Plan (SERP Plan). Under the SERP Plan, on a yearly basis, the Company shall credit the participant's SERP account with the annual contribution specified in the participant's participation agreement, based on a fixed percent of each participant's annual salary. The SERP account is an unfunded liability due to each participant and is accruing interest. For the plan years ended December 31, 2018 and 2017, the related liability amounted to $384,000 and $294,000, respectively, and is included in other liabilities. Participants vest in full upon attaining five years of service from the date of participation, or attainment of benefit age, or following a change in control. For each of the years ended December 31, 2018 and 2017, expense recognized under the plan for these benefits was $90,000 and $86,000, respectively. Employee Stock Ownership Plan The Company has adopted a tax-qualified employee stock ownership plan ("ESOP") for the benefit of eligible employees. The Company completed its initial public offering and in connection with the conversion transaction, 226,366 shares of Company common stock were purchased by the ESOP at $10.00 per share. The ESOP funded its stock purchase through a loan from the Company equal to 100% of the aggregate purchase price of the common stock. The ESOP trustee will repay the loan principally through the Bank's contributions to the ESOP and dividends paid on common stock held by the plan over the loan term of 29.2 years. The trustee holds the shares purchased in a loan suspense account and will release the shares from the suspense account on a pro rata basis as it repays the loan. The trustee will allocate the shares released among active participants on the basis of each active participant's proportional share of compensation compared to all active participants for the plan year. Participants vest in their benefit at a rate of 20% per year and will be fully vested upon completion of five years of credited service. Generally, participants will receive distributions from the ESOP upon separation from service. The trustee will reallocate any unvested shares of common stock forfeited by participants upon their separation from service among the remaining participants in the plan. Eligible employees who were employed with the Bank shall receive credit for vesting purposes for each year of continuous employment prior to adoption of the ESOP. The Company records compensation expense for the ESOP at an amount equal to the shares allocated by the ESOP multiplied by the average fair market value of shares during the period. At December 31, 2018, the remaining principal balance on the ESOP debt was $1,968,000 and the number of shares held by the ESOP was 226,366. Total compensation expense recognized in connection with the ESOP was $147,000 and $136,000 for the years ended December 31, 2018 and 2017, respectively. The remaining principal balance on the ESOP debt as of December 31, 2018 is payable as follows: Years Ending December 31, Amount (In Thousands) 2019 $ 52 2020 54 2021 56 2022 58 2023 59 Thereafter 1,689 $ 1,968 Shares held by the ESOP are as follows as of December 31: 2018 2017 Allocated 37,728 30,182 Unallocated 188,638 196,184 Shares held by ESOP 226,366 226,366 The fair value of unallocated ESOP shares was $3,388,000 at December 31, 2018. 2015 Equity Incentive Plan Melrose Bancorp, Inc. adopted the Melrose Bancorp, Inc. 2015 Equity Incentive Plan (the "2015 Equity Incentive Plan") to provide directors, officers, and employees of the Company and Melrose Cooperative Bank with additional incentives to promote growth and performance of the Company and Melrose Cooperative Bank. The 2015 Equity Incentive Plan authorizes the issuance or delivery to participants of up to 396,140 shares of Melrose Bancorp, Inc. common stock pursuant to grants of incentive and non-statutory stock options, restricted stock awards, and restricted stock units. Of this number, the maximum number of shares of Melrose Bancorp, Inc. common stock that may be issued under the 2015 Equity Incentive Plan pursuant to the exercise of stock options is 282,957 shares, and the maximum number of shares of Melrose Bancorp, Inc. common stock that may be issued as restricted stock awards or restricted stock units is 113,183 shares. The 2015 Equity Incentive Plan was effective upon approval by stockholders at the November 23, 2015 annual meeting. On May 12, 2016, the Company issued 44,300 shares of restricted common stock awards. The restricted stock award expense is based on a $15.13 per share price on the date of the grant, and shares vest over 5 years commencing one year from the grant date. The total expense recognized in connection with the restricted stock awards was $134,000, for the years ended December 31, 2018 and 2017, and the recognized tax benefit was $35,000 and $54,000, respectively. On May 12, 2016, the Company granted 224,200 stock options. The stock options have an exercise price of $15.13 per share, and vest ratably over 5 years commencing one year from the date of the grant. The stock option expense is equal to the number of options expected to vest each year times the grant date fair value of the shares as determined using the Black-Scholes option pricing model. The Company completed an analysis of seven peer banks to determine the expected volatility of 20.24%. The exercise price used in the pricing model was $15.13, the closing price of the stock on the grant date. The expected life was estimated to be 6.5 years and the 7 year treasury rate of 1.54% was used as the annual risk free interest rate. Using these variables, the estimated fair value is $3.71 per share. The aggregate intrinsic value of options outstanding is $609,000 as of December 31, 2018. The total expense recognized in connection with the stock options was $166,000 for the years ended December 31, 2018 and 2017, and the recognized tax benefit was $13,000 and $18,000, respectively. During the year ended December 31, 2018, 9,100 stock options were exercised, and there were no options forfeited to date. As of December 31, 2018, there were 215,100 stock options outstanding. At December 31, 2018, the unrecognized share based compensation expense related to the 35,440 unvested restricted stock awards amounted to $317,000. The unrecognized expense will be recognized over a weighted average period of 2.3 years. At December 31, 2018, 80,580 of the 215,100 stock options outstanding are exercisable, and the remaining contractual life is 7.3 years. The unrecognized expense related to the unvested options is $392,000, and will be recognized over a weighted average period of 2.3 years. Other Agreements The Company has entered into employment agreements and change in control agreements with certain executive officers which provide the executive officers with severance payments based on salary, and the continuation of other benefits, upon a change in control as defined in the agreements.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2018
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	NOTE 11 - FINANCIAL INSTRUMENTS The Company is 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 originate loans, unused lines of credit, and funds to due borrowers on un-advanced construction loans. The instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments is represented by the contractual amounts of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to originate loans are agreements to lend to a customer provided 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 Bank upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held varies, but may include secured interests in mortgages, accounts receivable, inventory, property, plant and equipment and income-producing properties. Financial instrument liabilities with off-balance sheet credit risk are as follows as of December 31: December 31, December 31, 2018 2017 (In Thousands) Commitments to originate loans $ 4,753 $ 2,401 Unused lines of credit 20,840 17,611 Due to borrowers on unadvanced construction loans 4,182 2,320 $ 29,775 $ 22,332

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 12 - FAIR VALUE MEASUREMENTS ASC 820-10, "Fair Value Measurement - Overall," provides a framework for measuring fair value under generally accepted accounting principles. This guidance also allows an entity the irrevocable option to elect fair value for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. In accordance with ASC 820-10, the Company groups its financial assets and financial liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 - Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Level 1 also includes U.S. Treasury, other U.S. Government and agency mortgage-backed securities that are traded by dealers or brokers in active markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities. Level 3 - Valuations for assets and liabilities that are derived from other methodologies, including option pricing models, discounted cash flow models and similar techniques, are not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets and liabilities. A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. 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. These valuation methodologies were applied to all of the Company's financial assets and financial liabilities carried at fair value for December 31, 2018 and December 31, 2017. The Company did not have any significant transfers of assets between levels 1 and 2 of the fair value hierarchy during the years ended December 31, 2018 and 2017. The Company's marketable equity securities and preferred stocks are generally classified within level 1 of the fair value hierarchy because they are valued using quoted market prices. The Company's investment in debt securities available-for-sale is generally classified within level 2 of the fair value hierarchy. For these securities, we obtain fair value measurements from independent pricing services. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument's terms and conditions. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate is used. Subsequent to inception, management only changes level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalization and other transactions across the capital structure, offerings in the equity or debt markets, and changes in financial ratios or cash flows. The Company's impaired loans, if any, are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using level 2 inputs based upon appraisals of similar properties obtained from a third party. For level 3 inputs, fair value is based upon management estimates of the value of the underlying collateral or the present value of the expected cash flows. The following summarizes assets measured at fair value on a recurring basis as of December 31: Fair Value Measurements at Reporting Date Using: Total Quoted Prices in Significant Significant (In Thousands) December 31, 2018: U.S. Government and federal agency obligations $ 3,960 $ - $ 3,960 $ - Debt securities issued by states of the United States and political subdivisions of the states 2,597 - 2,597 - Corporate bonds and notes 13,595 - 13,595 - Preferred stock 1,876 1,876 - - Asset-backed securities 932 - 932 - Mortgage-backed securities 1,159 - 1,159 - Marketable equity securities 1,715 1,715 - - Totals $ 25,834 $ 3,591 $ 22,243 $ - December 31, 2017: U.S. Government and federal agency obligations $ 5,325 $ - $ 5,325 $ - Debt securities issued by states of the United States and political subdivisions of the states 2,881 - 2,881 - Corporate bonds and notes 11,294 - 11,294 - Preferred stock 3,013 3,013 - - Mortgage-backed securities 1,448 - 1,448 - Marketable equity securities 2,535 2,535 - - Totals $ 26,496 $ 5,548 $ 20,948 $ - Under certain circumstances the Company makes adjustments to fair value for its assets and liabilities although they are not measured at fair value on an ongoing basis. At December 31, 2018 and 2017, there were no financial instruments carried on the consolidated balance sheet for which a nonrecurring change in fair value has been recorded. The estimated fair values of the Company's financial instruments, all of which are held or issued for purposes other than trading, are as follows: December 31, 2018 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 15,195 $ 15,195 $ - $ - $ 15,195 Interest-bearing time deposits with other banks 675 - 670 - 670 Available-for-sale securities 25,834 3,591 22,243 - 25,834 Federal Home Loan Bank stock 2,285 2,285 - - 2,285 Loans, net 268,211 - - 266,635 266,635 Co-operative Central Bank deposit 881 881 - - 881 Accrued interest receivable 778 778 - - 778 Financial liabilities: Deposits 244,056 - 243,911 - 243,911 FHLB advances 34,000 - 33,642 - 33,642 December 31, 2017 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 17,603 $ 17,603 $ - $ - $ 17,603 Available-for-sale securities 26,496 5,548 20,948 - 26,496 Federal Home Loan Bank stock 1,800 1,800 - - 1,800 Loans, net 251,317 - - 252,792 252,792 Co-operative Central Bank deposit 886 886 - - 886 Accrued interest receivable 702 702 - - 702 Financial liabilities: Deposits 232,921 - 232,899 - 232,899 FHLB advances 29,000 - 28,660 - 28,660 The carrying amounts of financial instruments shown in the above table are included in the consolidated balance sheets under the indicated captions. Accounting policies related to financial instruments are described in Note 2.

Other Comprehensive Loss

Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2018
Other Comprehensive Loss [Abstract]
OTHER COMPREHENSIVE LOSS	NOTE 13 - OTHER COMPREHENSIVE LOSS Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the stockholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income. The components of other comprehensive loss included in stockholders’ equity are as follows: Years Ended December 31, 2018 2017 (In thousands) Net unrealized holding (loss)/gain on available-for-sale securities $ (312 ) $ 478 Reclassification adjustment for net realized gains included in net income (1) (493 ) (1,385 ) Other comprehensive loss before income tax effect (805 ) (907 ) Income tax benefit 208 378 Other comprehensive loss, net of tax $ (597 ) $ (529 ) (1) Reclassification adjustments include net realized securities gains and losses. Realized gains and losses have been reclassified out of accumulated other comprehensive (loss)/income and affect certain captions in the consolidated statements of income as follows: pre-tax amount for the years ended December 31, 2018 and 2017 is reflected as a gain on sale of available-for-sale securities, net of $493,000 for 2018 and a gain on sale of available-for-sale securities, net of $1,385,000 for 2017. The tax effect, included in income tax expense for the years ended December 31, 2018 and 2017 is $130,000 and $490,000, respectively. The after tax amount is included in net income. Accumulated other comprehensive (loss)/income as of December 31, 2018 and 2017 consists of net unrealized holding (losses) gains on available-for-sale securities, net of taxes.

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2018
Regulatory Matters [Abstract]
REGULATORY MATTERS	NOTE 14 - REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’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 Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Effective January 1, 2015, (with a phase-in period of two to four years for certain components), the Bank became subject to capital regulations adopted by the Board of Governors of the Federal Reserve System (“FRB”) and the FDIC, which implement the Basel III regulatory capital reforms and the changes required by the Dodd-Frank Act. The regulations require a common equity Tier 1 (“CET1”) capital ratio of 4.5%, a minimum Tier 1 capital to risk-weighted assets ratio of 6.0%, a minimum total capital to risk-weighted assets ratio of 8.0% and a minimum Tier 1 leverage ratio of 4.0%. CET1 generally consists of common stock and retained earnings, subject to applicable adjustments and deductions. Under prompt corrective action regulations, in order to be considered “well capitalized,” the Bank must maintain a CET1 capital ratio of 6.5%, a Tier 1 risk based capital ratio of 8.0%, a total risk based capital ratio of 10.0%, and a Tier 1 leverage ratio of 5.0%. In addition, the regulations establish a capital conservation buffer above the required capital ratios that begin phasing in January 1, 2016 at 0.625% of risk-weighted assets and increases each year by 0.625% until it is fully phased in at 2.5% effective January 1, 2019. Failure to maintain the capital conservation buffer will limit the ability of the Bank and the Company to pay dividends, repurchase shares or pay discretionary bonuses. At December 31, 2018, the Bank exceeded the fully phased in regulatory requirement for the capital conservation buffer. Management believes, as of December 31, 2018, that the Bank meets all capital adequacy requirements to which it is subject. As of December 31, 2018, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum ratios as set forth in the following table. There were no conditions or events since that notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios are also presented in the table. Actual For Capital To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) As of December 31, 2018: Total Capital (to Risk Weighted Assets) $ 39,152 17.86 % $ 17,538 8.0 % $ 21,923 10.0 % Tier 1 Capital (to Risk Weighted Assets) 37,828 17.26 13,154 6.0 17,538 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 37,828 17.26 9,865 4.5 14,250 6.5 Tier 1 Capital (to Average Assets) 37,828 12.17 12,431 4.0 15,539 5.0 As of December 31, 2017: Total Capital (to Risk Weighted Assets) $ 37,141 19.80 % $ 15,007 8.0 % $ 18,759 10.0 % Tier 1 Capital (to Risk Weighted Assets) 35,786 19.08 11,255 6.0 15,007 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 35,786 19.08 8,441 4.5 12,193 6.5 Tier 1 Capital (to Average Assets) 35,786 12.59 11,373 4.0 14,216 5.0

Common Stock Repurchases

Common Stock Repurchases	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
COMMON STOCK REPURCHASES	NOTE 15 - COMMON STOCK REPURCHASES From time to time, our board of directors authorizes stock repurchase plans. In general, stock repurchase plans allow us to proactively manage our capital position and return excess capital to shareholders. Shares purchased under such plans also provide us with shares of common stock necessary to satisfy obligations related to stock compensation awards. On September 14, 2017, the board of directors of the Company authorized an increase in the number of shares that may be repurchased pursuant to the Company's stock repurchase plan that was previously announced on November 12, 2015. Under the expanded repurchase plan, the Company is authorized to repurchase an additional 130,037 shares, representing approximately 5.0% of the Company's issued and outstanding shares of common stock as of September 14, 2017. At that date, the Company had 11,200 shares remaining to be purchased under its previously announced share repurchase plan of 283,000. The actual amount and timing of future share repurchases, if any, will depend on market conditions, applicable SEC rules and various other factors. The following is a summary of stock repurchases during the year ended December 31, 2018. Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs January 1, 2018 to January 31, 2018 - - - 141,237 February 1, 2018 through February 28, 2018 - - - 141,237 March 1, 2018 through March 31, 2018 - - - 141,237 April 1, 2018 to April 30, 2018 - - - 141,237 May 1, 2018 to May 31, 2018 10,000 19.30 10,000 131,237 June 1, 2018 to June 30, 2018 - - - 131,237 July 1, 2018 to July 31, 2018 5,000 19.50 5,000 126,237 August 1, 2018 to August 31, 2018 - - - 126,237 September 1, 2018 to September 30, 2018 2,200 19.75 2,200 124,037 October 1, 2018 to October 31, 2018 13,000 19.62 13,000 111,037 November 1, 2018 to November 30, 2018 5,400 19.35 5,400 105,637 December 1, 2018 to December 31, 2018 - - - 105,637 During the year ended December 31, 2018, 1,219 shares of common stock were repurchased, as a result of the second annual installment of the stock awards vesting. This stock transaction was not part of the Company's repurchase plan; the Company was required to purchase these shares for the payment of income taxes withheld on unvested restricted stock awards During the year ended December 31, 2017, 1,336 shares of common stock were repurchased, as a result of the first annual installment of the stock awards vesting. This stock transaction was not part of the Company's repurchase plan; the Company was required to purchase these shares for the payment of income taxes withheld on unvested restricted stock awards. There were no shares of common stock repurchased under the Company's repurchase plan.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 16 - RELATED PARTY TRANSACTIONS Certain directors and executive officers of the Company and companies in which they have significant ownership interest were customers of the Bank during the year ended December 31, 2018. Total loans to such persons and their companies amounted to $2,138,000 and $2,274,000 as of December 31, 2018 and December 31, 2017, respectively. During the year ended December 31, 2018, there were no new loan disbursements, $91,000 of advances were made, and principal payments totaled $227,000. During the year ended December 31, 2017, there was one new loan disbursement of $439,000, $13,000 of advances were made, principal payments totaled $138,000, and loan payoffs totaled $495,000. Deposits from related parties held by the Bank as of December 31, 2018 and 2017 amounted to $4,780,000 and $3,603,000, respectively.

Significant Group Concentration

Significant Group Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2018
Risks and Uncertainties [Abstract]
SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK	NOTE 17 - SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK Most of the Bank's business activity is with customers located within the Commonwealth of Massachusetts. There are no concentrations of credit to borrowers that have similar economic characteristics. The majority of the Bank's loan portfolio is comprised of loans collateralized by real estate located in the Commonwealth of Massachusetts.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 18 - SUBSEQUENT EVENTS On January 10, 2019, the Board of Directors of Melrose Bancorp, Inc. (the “Company”) declared an annual cash dividend on the Company’s common stock of $0.34 per share. The dividend was paid on February 14, 2019 to stockholders of record as of January 29, 2019. On January 11, 2019, the Board of Directors of the Company authorized an increase in the number of shares that may be repurchased pursuant to the Company’s stock repurchase plan that was previously announced on September 14, 2017. Under the expanded repurchase plan, the Company is authorized to repurchase an additional 253,702 shares, representing approximately 10.0% of the Company’s issued and outstanding shares of common stock as of January 10, 2019. At that date, the Company had 105,637 shares remaining to be purchased under its previously announced share repurchase plans. The actual amount and timing of future share repurchases, if any, will depend on market conditions, applicable SEC rules and various other factors. On February 25, 2019, under the Stock Repurchase Plan the Company repurchased 132,891 shares of common stock at an average cost of $18.85 per share for a total of $2.5 million. The actual amount and timing of future share repurchases, if any, will depend on market conditions, applicable SEC rules and various other factors.

Condensed Parent Company Only F

Condensed Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS	NOTE 19 - CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS MELROSE BANCORP, INC. PARENT COMPANY ONLY BALANCE SHEETS (In Thousands) December 31, 2018 2017 Assets Non-interest bearing deposit in the Bank $ 634 $ 1,998 Money market funds 1,509 1,363 Cash and cash equivalents 2,143 3,361 Interest-bearing time deposits with other banks 675 - Investments in available-for-sale securities (at fair value) 2,475 3,233 Investment in subsidiary, Melrose Bank 37,472 35,997 Loan receivable ESOP 1,968 2,019 Accrued interest receivable 11 11 Deferred tax assets 186 203 Other assets 295 286 Total assets $ 45,225 $ 45,110 Liabilities and Stockholders' Equity Other liabilities $ 10 $ 117 Stockholders' equity 45,215 44,993 Total liabilities and stockholders' equity $ 45,225 $ 45,110 MELROSE BANCORP, INC. PARENT COMPANY ONLY STATEMENTS OF INCOME (In Thousands) For the year ended For the year ended Interest and dividend income: Interest on cash and cash equivalents $ 10 $ 2 Interest on ESOP loan 66 67 Interest and dividends on securities 55 47 Total interest and dividend income 131 116 Noninterest expense: Salaries and employee benefits 300 300 Loss on available-for-sale securities 15 - Total noninterest expense 315 300 Loss before undistributed income of subsidiary and income tax (benefit)/expense (184 ) (184 ) Undistributed income of subsidiary 1,934 2,004 Income before income taxes 1,750 1,820 Income tax (benefit) expense (20 ) 16 Net income $ 1,770 $ 1,804 MELROSE BANCORP, INC. PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS (In Thousands) For the year ended For the year ended Cash flows from operating activities: Net income $ 1,770 $ 1,804 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of securities, net of accretion 30 62 Loss on available-for-sale securities 15 - Increase in accrued interest receivable - (6 ) Deferred tax expense 14 175 Increase in other assets (9 ) (139 ) Decrease in other liabilities (107 ) (7 ) Stock based compensation expense 300 300 Equity in undistributed earnings of subsidiary (1,934 ) (2,004 ) Net cash provided by operating activities 79 185 Cash flows from investing activities: Purchases of interest-bearing time deposits with other banks (675 ) (898 ) Proceeds from maturities of available-for-sale securities 725 606 Repayment of principal on ESOP loan 51 51 Net cash provided by (used in) investing activities 101 (241 ) Cash flows from financing activities: Payment of income taxes for shares withheld in stock based award activity (24 ) (22 ) Cash paid for stock repurchases (694 ) - Stock options exercised 137 - Dividend paid (817 ) - Net cash used in financing activities (1,398 ) (22 ) Net decrease in cash and cash equivalents (1,218 ) (78 ) Cash and cash equivalents at beginning of year 3,361 3,439 Cash and cash equivalents at end of year $ 2,143 $ 3,361

Quarterly Data (Unaudited)

Quarterly Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY DATA (UNAUDITED)	NOTE 20 - QUARTERLY DATA (UNAUDITED) Year Ended December 31, 2018 First Second Third Fourth (Dollars in thousands, except share data) Interest and dividend income $ 2,505 $ 2,646 $ 2,812 $ 2,839 Interest expense 645 800 954 1,049 Net interest and dividend income 1,860 1,846 1,858 1,790 Provision/(benefit) for loan losses 41 132 53 (37 ) Net interest and dividend income, after provision/(benefit) for loan losses 1,819 1,714 1,805 1,827 Total noninterest income 166 182 149 259 Total noninterest expense 1,322 1,397 1,355 1,472 Income before income taxes 663 499 599 614 Provision for income taxes 180 123 157 145 Net income $ 483 $ 376 $ 442 $ 469 Earnings per share: Basic $ 0.20 $ 0.16 $ 0.19 $ 0.19 Diluted $ 0.20 $ 0.16 $ 0.18 $ 0.20 Year Ended December 31, 2017 First Second Third Fourth (Dollars in thousands, except share data) Interest and dividend income $ 2,044 $ 2,195 $ 2,348 $ 2,354 Interest expense 467 499 591 626 Net interest and dividend income 1,577 1,696 1,757 1,728 (Benefit)/provision for loan losses (20 ) 111 3 151 Net interest and dividend income, after (benefit)/provision for loan losses 1,596 1,585 1,754 1,578 Total noninterest income 507 393 494 249 Total noninterest expense 1,240 1,277 1,317 1,276 Income before income taxes 863 701 931 551 Provision for income taxes 337 280 300 325 Net income $ 526 $ 421 $ 631 $ 226 Earnings per share: Basic $ 0.22 $ 0.18 $ 0.27 $ 0.09 Diluted $ 0.22 $ 0.18 $ 0.27 $ 0.09

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary the Bank, and the Bank’s wholly-owned subsidiary, MCBSC, Inc., which is used to hold investment securities. All significant intercompany accounts and transactions have been eliminated in the consolidation. The accounting and reporting policies of the Company and its subsidiary conform to accounting principles generally accepted in the United States of America (GAAP) and predominant practices within the banking industry. The consolidated financial statements were prepared using the accrual basis of accounting. The significant accounting policies are summarized below to assist the reader in better understanding the consolidated financial statements and other data contained herein.
USE OF ESTIMATES	USE OF ESTIMATES: In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the determination of whether declines in fair value below the cost of investments are temporary.
SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK	SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK: Most of the Company’s business activity is with customers located in New England. There are no concentrations of credit to borrowers that have similar economic characteristics. The majority of the Company’s loan portfolio is comprised of loans collateralized by real estate located in Massachusetts.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS: Cash and cash equivalents include cash on hand, amounts due from banks and federal funds sold with original maturities of less than ninety days.
INTEREST-BEARING TIME DEPOSITS WITH OTHER BANKS	INTEREST-BEARING TIME DEPOSITS WITH OTHER BANKS: Interest-bearing time deposits with other banks mature within 5 years and are carried at cost.
SECURITIES	SECURITIES: Investments in debt securities are adjusted for amortization of premiums and accretion of discounts computed so as to approximate the interest method. Gains or losses on sales of investment securities are computed on a specific identification basis. The Company classifies all debt and equity securities as available-for-sale. Available-for-sale securities are carried at fair value in the consolidated balance sheets. Unrealized holding gains and losses are not included in earnings, but are reported as a net amount (less expected tax) in a separate component of stockholders’ equity until realized. The security classification may be modified after acquisition only under certain specified conditions. For any debt security with a fair value less than its amortized cost basis, the Company will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, the Company will recognize a full impairment charge to earnings. For all other debt securities that are considered other-than-temporarily impaired and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. The other-than-temporary impairment related to all other factors will be recorded in other comprehensive loss. Declines in marketable equity securities below their cost that are deemed other-than-temporary are reflected in earnings as realized losses.
FEDERAL HOME LOAN BANK STOCK	FEDERAL HOME LOAN BANK STOCK: The Bank is a member of the Federal Home Loan Bank (FHLB). The FHLB is a cooperative that provides services, including funding in the form of advances, to its member banking institutions. As a requirement of membership, the Bank must own a minimum amount of FHLB stock, calculated periodically based primarily on its level of borrowings from the FHLB. No market exists for shares of the FHLB and therefore, they are carried at par value. Dividends are reported as income. FHLB stock may be redeemed at par value five years following termination of FHLB membership, subject to limitations which may be imposed by the FHLB or its regulator, the Federal Housing Finance Board, to maintain capital adequacy of the FHLB. Management evaluates the Company’s investment in FHLB stock for other-than-temporary impairment at least on a quarterly basis and more frequently when economic or market conditions warrant such evaluation. Based on its most recent analysis of the FHLB as of December 31, 2018, management deems its investment in FHLB stock to be not other-than-temporarily impaired.
LOANS	LOANS: Loans receivable that management has the intent and ability to hold until maturity or payoff are reported at their outstanding principal balances adjusted for amounts due to borrowers on outstanding home equity lines of credit, commercial lines of credit and construction loans, any charge-offs, the allowance for loan losses and any deferred costs, net on originated loans, or unamortized premiums on purchased loans. Loan origination and commitment fees and certain direct origination costs are deferred, and the net amount amortized as an adjustment of the related loan’s yield. The Company is amortizing these amounts over the expected lives of the related loans. Residential real estate loans are generally placed on nonaccrual when reaching 90 days past due or are in the process of foreclosure. All closed-end consumer loans 90 days or more past due and any equity line in the process of foreclosure are placed on nonaccrual status. Secured consumer loans are written down to realizable value and unsecured consumer loans are charged off upon reaching 120 or 180 days past due depending on the type of loan. Commercial real estate loans and commercial business loans which are 90 days or more past due are generally placed on nonaccrual status, unless secured by sufficient cash or other assets immediately convertible to cash. When a loan has been placed on nonaccrual status, previously accrued and uncollected interest is reversed against interest on loans. A loan can be returned to accrual status when collectability of principal is reasonably assured and the loan has performed for a period of time, generally six months. Cash receipts of interest income on impaired loans are credited to principal to the extent necessary to eliminate doubt as to the collectability of the net carrying amount of the loan. Some or all of the cash receipts of interest income on impaired loans are recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered.
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES: The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: one- to four-family residential real estate, home equity loans and lines of credit, commercial real estate, construction, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during the years ending December 31, 2018 and 2017. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: One- to four-family residential real estate: The Company generally does not originate loans with a loan-to-value ratio greater than 80% and does not grant subprime loans. Loans with loan-to-value ratios greater than 80% require private mortgage insurance, are collateralized primarily by owner-occupied residential real estate, and repayment is dependent on the credit quality of the individual borrower. Loans in this segment also include home equity loans and lines of credit. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Commercial real estate: Loans in this segment are primarily income-producing properties throughout Massachusetts. The underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Loans in this segment also include loans secured by multifamily dwellings. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction: Loans in this segment primarily include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Consumer: Loans in this segment are generally secured and repayment is dependent on the credit quality of the individual borrower. Loans in this segment include auto loans and other consumer loans. Allocated Component: The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and one- to four-family residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are initially classified as impaired. Unallocated Component: An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT: Land is carried at cost. Buildings and equipment are stated at cost, less accumulated depreciation. Cost and related allowances for depreciation of premises and equipment retired or otherwise disposed of are removed from the respective accounts with any gain or loss included in income or expense. Depreciation is calculated principally on the straight-line method over the estimated useful lives of the assets. Estimated lives are 15 to 30 years for buildings and 3 to 10 years for furniture and equipment. Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than its carrying amount. In that event, the Company records a loss for the difference between the carrying amount and the fair value of the asset based on quoted market prices, if applicable, or a discounted cash flow analysis.
BANK-OWNED LIFE INSURANCE	BANK-OWNED LIFE INSURANCE: The Company has purchased insurance policies on the lives of certain directors, executive officers and employees. Bank-owned life insurance policies are reflected on the consolidated balance sheets at cash surrender value. Changes in net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest income on the consolidated statements of income and are not subject to income taxes.
ADVERTISING	ADVERTISING: The Company directly expenses costs associated with advertising as they are incurred.
INCOME TAXES	INCOME TAXES: The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between the book and tax bases of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. A valuation allowance is established against deferred tax assets when, based upon the available evidence including historical and projected taxable income, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company does not have any uncertain tax positions at December 31, 2018 or 2017 which require accrual or disclosure. The Company accounts for interest and penalties related to uncertain tax positions as part of its provision for income taxes. No interest or penalties were recorded for the years ended December 31, 2018 and 2017.
EMPLOYEE STOCK OWNERSHIP PLAN	EMPLOYEE STOCK OWNERSHIP PLAN: Compensation expense for the Employee Stock Ownership Plan (“ESOP”) is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair value of the shares during the period. Unearned compensation applicable to the ESOP is reflected as a reduction of stockholders’ equity in the consolidated balance sheets. The difference between the average fair value and the cost of shares allocated by the ESOP is recorded as an adjustment to additional paid-in capital.
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION: The Company recognizes stock-based compensation based on the grant-date fair value of the award. Forfeitures are recognized when they occur. The Company values share-based stock option awards granted using the Black-Scholes option-pricing model. The Company recognizes compensation expense for its awards on a straight-line basis over the requisite service period for the entire award (straight-line attribution method), ensuring that the amount of compensation cost recognized at any date at least equals the portion of the grant-date fair value of the award that is vested at that time.
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (EPS): When presented, basic EPS is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For the purposes of computing diluted EPS, the treasury stock method is used. Unallocated ESOP shares and unearned shares of restricted stock are not deemed outstanding for earnings per share calculations. The calculation of basic and diluted EPS is presented below. Year Ended Year Ended (Dollars in thousands, except earnings per share) Net income $ 1,770 $ 1,804 Basic Common Shares: Weighted average common shares outstanding 2,593,248 2,601,223 Weighted average shares - unearned restricted stock (24,965 ) (33,843 ) Weighted average unallocated ESOP shares (192,412 ) (199,956 ) Basic weighted average shares outstanding 2,375,871 2,367,424 Dilutive effect of unvested restricted stock awards 5,383 4,873 Dilutive effect of stock options (1) 24,700 - Diluted weighted average shares outstanding 2,405,954 2,372,297 Basic earnings per share $ 0.74 $ 0.76 Diluted earnings per share (1) $ 0.74 $ 0.76 (1) Options to purchase 224,200 shares, representing all outstanding options, were not included in the computation of diluted earnings per share for the year ended December 31, 2017 because the effect was anti-dilutive.
FAIR VALUES OF FINANCIAL INSTRUMENTS	FAIR VALUES OF FINANCIAL INSTRUMENTS: Accounting Standards Codification (ASC) 825, "Financial Instruments," requires that the Company disclose the estimated fair value for its financial instruments. Fair value methods and assumptions used by the Company in estimating its fair value disclosures are as follows: Cash and cash equivalents: The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents approximate those assets' fair values. Interest-bearing time deposits with other banks: Fair values for interest-bearing time deposits are estimated using discounted cash flow analyses based on the individual underlying instrument's current rate of interest. Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans receivable: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificate accounts are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on certificate accounts. Federal Home Loan Bank advances: The fair values of FHLB advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates for similar types of borrowing arrangements.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS: As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, the consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards. As of December 31, 2018, there is no significant difference in the comparability of the financial statements as a result of this extended transition period. The extended transition period for an emerging growth company is five years, and the Company’s emerging growth status will end on December 31, 2019. In May 2014, the Financial Accounting Standards Board (FASB) issued amendments to Accounting Standards Codification (ASC) section 606 “Revenue from Contracts with Customers” through issuance of ASU 2014-09, “Revenue from Contracts with Customers.” In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)” which deferred the effective date by one year. The guidance in these updates affects any entity that either enters in contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to the customers in the amount that reflects consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, and timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgements and changes in judgements, and assets recognized from the cost to obtain of fulfill a contract. The amendments in these updates are effective for interim and annual reporting periods beginning after December 15, 2018, and interim periods within those periods. Since the standard does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new standard will not impact revenue most closely associated with financial instruments, including interest income and expense. The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASUs, including customer service fees. Based on this assessment, the Company concluded that ASU 2014-09 will not materially impact the method in which the Company currently recognizes revenue for these revenue streams. The Company also completed its evaluation of certain costs related to these revenue streams to determine whether such costs should be presented as expenses or contra-revenue (i.e. gross vs. net). Based on this assessment, the Company will not materially change the method in which it recognizes these costs. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in this ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and makes targeted improvements to GAAP as follows: 1. Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, the entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same manner. 2. Simplify the impairment assessment of equity investments without determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3. Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4. Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5. Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6. Require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7. Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. Under the extended transition period for an emerging growth company, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of item 5 above is permitted as of the beginning of fiscal years or interim periods for which financial statements have not been issued. Early adoption of all other amendments in this ASU is not permitted. The adoption of ASU No. 2016-01 will not have a significant impact on the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. This update will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted in interim and annual reporting periods beginning after December 15, 2018. The Company has formed a committee to assess the implications of this new pronouncement and is considering a software solution for preparing the allowance for loan loss calculation and related reports that will provide the Company with stronger data integrity, ease and efficiency in the allowance for loan loss preparation. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” ASU 2018-02 was issued to address the income tax accounting treatment of the stranded tax effects within other comprehensive income due to the prohibition of backward tracing due to an income tax rate change that was initially recorded in other comprehensive income. This issue came about from the enactment of the Tax Cuts and Jobs Act on December 22, 2017 that changed the Company’s tax rate from 34% to 21%. The ASU changed the current accounting whereby an entity may elect to reclassify the stranded tax effect from other accumulated other comprehensive income to retained earnings. The ASU is effective for periods beginning after December 15, 2018 although early adoption is permitted. The Company adopted ASU 2018-02 as of December 31, 2017 and reclassified $42,000 from accumulated other comprehensive income to retained earnings. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to Disclosure Requirements for Fair Value Measurement.” The objective of this update is to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by generally accepted accounting principles (GAAP) that is most important to users of each entity’s financial statements. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, “Fair Value Measurement”, based on the concepts in the Concepts Statements, including the consideration of costs and benefits. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for removal or modification of disclosures upon issuance of this update and delayed adoption of the disclosures until their effective date. The adoption of this ASU is not expected to have a material effect on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of calculation of basic and diluted EPS	Year Ended Year Ended (Dollars in thousands, except earnings per share) Net income $ 1,770 $ 1,804 Basic Common Shares: Weighted average common shares outstanding 2,593,248 2,601,223 Weighted average shares - unearned restricted stock (24,965 ) (33,843 ) Weighted average unallocated ESOP shares (192,412 ) (199,956 ) Basic weighted average shares outstanding 2,375,871 2,367,424 Dilutive effect of unvested restricted stock awards 5,383 4,873 Dilutive effect of stock options (1) 24,700 - Diluted weighted average shares outstanding 2,405,954 2,372,297 Basic earnings per share $ 0.74 $ 0.76 Diluted earnings per share (1) $ 0.74 $ 0.76 (1) Options to purchase 224,200 shares, representing all outstanding options, were not included in the computation of diluted earnings per share for the year ended December 31, 2017 because the effect was anti-dilutive.

Interest-Bearing Time Deposit_2

Interest-Bearing Time Deposits with Other Banks (Tables)	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Schedule of time deposits with other banks	(In Thousands) Due in one year or less $ - Due in one year through three years 225 Due in three years through five years 450 $ 675

Investments in Available-For-_2

Investments in Available-For-Sale Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost basis of securities and their approximate fair values	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) December 31, 2018 U.S. Government and federal agency obligations $ 4,026 $ - $ 66 $ 3,960 Debt securities issued by states of the United States and political subdivisions of the states 2,625 1 29 2,597 Corporate bonds and notes 13,791 5 201 13,595 Preferred stock 2,000 - 124 1,876 Asset-backed securities 975 - 43 932 Mortgage-backed securities 1,200 1 42 1,159 Marketable equity securities 1,719 1 5 1,715 $ 26,336 $ 8 $ 510 $ 25,834 December 31, 2017: U.S. Government and federal agency obligations $ 5,390 $ - $ 65 $ 5,325 Debt securities issued by states of the United States and political subdivisions of the states 2,898 12 29 2,881 Corporate bonds and notes 11,364 7 77 11,294 Preferred stock 3,000 13 - 3,013 Mortgage-backed securities 1,495 - 47 1,448 Marketable equity securities 2,046 490 1 2,535 $ 26,193 $ 522 $ 219 $ 26,496
Schedule maturities of debt securities	Fair (In Thousands) Due within one year $ 2,243 Due after one year through five years 16,072 Due after five years through ten years 1,620 Due after ten years 1,215 Asset-backed securities 932 Mortgage-backed securities 1,159 $ 23,241
Schedule of aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position	Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) December 31, 2018 U.S. Government and federal agency obligations $ 975 $ 14 $ 2,985 $ 52 $ 3,960 $ 66 Debt securities issued by states of the United States and political subdivisions of the states 1,185 12 1,048 17 2,233 29 Corporate bonds and notes 5,882 80 6,224 121 12,106 201 Preferred stock 1,876 124 - - 1,876 124 Asset-backed securities 932 43 - - 932 43 Mortgage-backed securities - - 924 42 924 42 Marketable equity securities - - 492 5 492 5 Total temporarily impaired securities $ 10,850 $ 273 $ 11,673 $ 237 $ 22,523 $ 510 December 31, 2017 U.S. Government and federal agency obligations $ 2,855 $ 20 $ 2,470 $ 45 $ 5,325 $ 65 Debt securities issued by states of the United States and political subdivisions of the states 991 6 535 23 1,526 29 Corporate bonds and notes 4,467 24 3,946 53 8,413 77 Mortgage-backed securities 453 6 995 41 1,448 47 Marketable equity securities 485 1 - - 485 1 Total temporarily impaired securities $ 9,251 $ 57 $ 7,946 $ 162 $ 17,197 $ 219

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of loans	December 31, December 31, 2018 2017 (In Thousands) Real estate loans: One-to four-family residential $ 186,287 $ 189,763 Home equity loans and lines of credit 13,565 11,585 Commercial 58,780 34,686 Construction 10,441 15,853 Consumer loans 38 44 Total loans 269,111 251,931 Allowance for loan losses (1,323 ) (1,134 ) Deferred loan costs, net 3 35 Unamortized premiums 420 485 Net loans $ 268,211 $ 251,317
Schedule of loans and allowance for loan losses	Real Estate: One- to four- family Residential Home Equity Loans and Lines of Credit Commercial Construction Consumer Loans Unallocated Total (In Thousands) Year Ended December 31, 2018 Allowance for loan losses: Beginning balance $ 481 $ 52 $ 472 $ 107 $ 1 $ 21 $ 1,134 Charge offs - - - - - - - Recoveries - - - - - - - (Benefit)/provision (16 ) 8 229 (23 ) - (9 ) 189 Ending balance $ 465 $ 60 $ 701 $ 84 $ 1 $ 12 $ 1,323 At December 31, 2018 Allowance for loan losses: Ending Balance: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Ending balance: Collectively evaluated for impairment 465 60 701 84 1 12 1,323 Total allowance for loan losses ending balance $ 465 $ 60 $ 701 $ 84 $ 1 $ 12 $ 1,323 Loans: Ending balance: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Ending balance: Collectively evaluated for impairment 186,287 13,565 58,780 10,441 38 - 269,111 Total loans ending balance $ 186,287 $ 13,565 $ 58,780 $ 10,441 $ 38 $ - $ 269,111 Real Estate: One- to four- family Residential Home Equity Loans and Lines of Credit Commercial Construction Consumer Loans Unallocated Total Year ended December 31, 2017 Allowance for loan losses: Beginning balance $ 418 $ 49 $ 276 $ 117 $ 1 $ 29 $ 890 Charge offs - - - - (1 ) - (1 ) Recoveries - - - - - - - Provision (benefit) 63 3 196 (10 ) 1 (8 ) 245 Ending balance $ 481 $ 52 $ 472 $ 107 $ 1 $ 21 $ 1,134 At December 31, 2017 Allowance for loan losses: Ending Balance: Individually evaluated for impairment $ 8 $ - $ - $ - $ - $ - $ 8 Ending balance: Collectively evaluated for impairment 473 52 472 107 1 21 1,126 Total allowance for loan losses ending balance $ 481 $ 52 $ 472 $ 107 $ 1 $ 21 $ 1,134 Loans: Ending balance: Individually evaluated for impairment $ 100 $ - $ - $ - $ - $ - $ 100 Ending balance: Collectively evaluated for impairment 189,663 11,585 34,686 15,853 44 - 251,831 Total loans ending balance $ 189,763 $ 11,585 $ 34,686 $ 15,853 $ 44 $ - $ 251,931
Schedule of information regarding nonaccrual loans and past-due loans	30 - 59 60 - 89 90 Days or More Past Due Total Past Due Total Total 90 Days or More Past Due and Accruing Non- (In Thousands) At December 31, 2018 Real estate loans: One-to four-family residential $ 714 $ - $ - $ 714 $ 185,573 $ 186,287 $ - $ 348 Home equity loans and lines of credit - - - - 13,565 13,565 - - Commercial - - - - 58,780 58,780 - - Construction - - - - 10,441 10,441 - - Consumer loans - - - - 38 38 - - Total $ 714 $ - $ - $ 714 $ 268,397 $ 269,111 $ - $ 348 At December 31, 2017 Real estate loans: One-to four-family residential $ 295 $ 177 $ - $ 472 $ 189,291 $ 189,763 $ - $ 189 Home equity loans and lines of credit 189 - - 189 11,396 11,585 - - Commercial - - - - 34,686 34,686 - - Construction - - - - 15,853 15,853 - - Consumer loans - - - - 44 44 - - Total $ 484 $ 177 $ - $ 661 $ 251,270 $ 251,931 $ - $ 189

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	December 31, December 31, 2018 2017 (In Thousands) Land $ 393 $ 393 Building and improvements 3,305 2,070 Construction in process - 641 Furniture and equipment 643 553 Data processing equipment 477 360 4,818 4,017 Accumulated depreciation (2,173 ) (2,024 ) $ 2,645 $ 1,993

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Schedule of maturities	(In Thousands) 2019 $ 72,318 2020 45,232 2021 11,693 2022 1,941 2023 435 $ 131,619

Federal Home Loan Bank Advanc_2

Federal Home Loan Bank Advances (Tables)	12 Months Ended
	Dec. 31, 2018
Federal Home Loan Bank Advances [Abstract]
Schedule of maturities of advances from the FHLB	2019 $ 9,000 2020 16,000 2021 9,000 $ 34,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense	Years Ended December 31, 2018 2017 (In Thousands) Current: Federal $ 252 $ 857 State 47 251 299 1,108 Deferred: Federal 214 (12 ) Change in federal tax rate - 181 State 92 (11 ) Change in valuation allowance - (24 ) 306 134 Total income tax expense $ 605 $ 1,242
Schedule of differences between the statutory federal income tax rates and the effective tax rates	Years Ended December 31, 2018 2017 % of Income % of Income Federal income tax at statutory rate 21.0 % 34.0 % State tax, net of federal tax benefit 4.6 5.2 Change in valuation allowance - (0.8 ) Change in tax rate - 5.9 Dividends received deduction (0.2 ) (0.5 ) Bank-owned life insurance (1.4 ) (1.8 ) Credits - (2.3 ) Stock compensation 0.3 1.1 Tax exempt income (0.8 ) (1.0 ) ESOP 0.6 0.7 Other 1.4 0.3 Effective tax rates 25.5 % 40.8 %
Schedule of deferred tax assets and gross deferred tax liabilities	December 31, 2018 2017 (In Thousands) Deferred tax assets: Allowance for loan losses $ 372 $ 319 Deferred compensation 108 83 Security writedowns 5 5 ESOP 23 16 Stock based compensation 61 47 Accrued expenses 44 31 Contribution to Melrose Cooperative Bank Foundation 175 204 Net unrealized holding loss on available-for-sale securities 114 - Gross deferred tax assets 902 705 Valuation allowance (66 ) (66 ) Gross deferred tax assets, net of valuation allowance 836 639 Deferred tax liabilities: Accelerated depreciation (561 ) (181 ) Prepaid expenses (9 ) - Net unrealized holding gain on available- for-sale securities - (94 ) Gross deferred tax liabilities (570 ) (275 ) Net deferred tax asset $ 266 $ 364

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Capital One
Schedule of principal balance on ESOP Debt	Years Ending December 31, Amount (In Thousands) 2019 $ 52 2020 54 2021 56 2022 58 2023 59 Thereafter 1,689 $ 1,968
Schedule of shares held by ESOP	2018 2017 Allocated 37,728 30,182 Unallocated 188,638 196,184 Shares held by ESOP 226,366 226,366

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
Investments, All Other Investments [Abstract]
Schedule of financial instrument liabilities with off-balance sheet credit risk	December 31, December 31, 2018 2017 (In Thousands) Commitments to originate loans $ 4,753 $ 2,401 Unused lines of credit 20,840 17,611 Due to borrowers on unadvanced construction loans 4,182 2,320 $ 29,775 $ 22,332

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements at Reporting Date Using: Total Quoted Prices in Significant Significant (In Thousands) December 31, 2018: U.S. Government and federal agency obligations $ 3,960 $ - $ 3,960 $ - Debt securities issued by states of the United States and political subdivisions of the states 2,597 - 2,597 - Corporate bonds and notes 13,595 - 13,595 - Preferred stock 1,876 1,876 - - Asset-backed securities 932 - 932 - Mortgage-backed securities 1,159 - 1,159 - Marketable equity securities 1,715 1,715 - - Totals $ 25,834 $ 3,591 $ 22,243 $ - December 31, 2017: U.S. Government and federal agency obligations $ 5,325 $ - $ 5,325 $ - Debt securities issued by states of the United States and political subdivisions of the states 2,881 - 2,881 - Corporate bonds and notes 11,294 - 11,294 - Preferred stock 3,013 3,013 - - Mortgage-backed securities 1,448 - 1,448 - Marketable equity securities 2,535 2,535 - - Totals $ 26,496 $ 5,548 $ 20,948 $ -
Schedule of financial instruments held or issued for purposes other than trading	December 31, 2018 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 15,195 $ 15,195 $ - $ - $ 15,195 Interest-bearing time deposits with other banks 675 - 670 - 670 Available-for-sale securities 25,834 3,591 22,243 - 25,834 Federal Home Loan Bank stock 2,285 2,285 - - 2,285 Loans, net 268,211 - - 266,635 266,635 Co-operative Central Bank deposit 881 881 - - 881 Accrued interest receivable 778 778 - - 778 Financial liabilities: Deposits 244,056 - 243,911 - 243,911 FHLB advances 34,000 - 33,642 - 33,642 December 31, 2017 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 17,603 $ 17,603 $ - $ - $ 17,603 Available-for-sale securities 26,496 5,548 20,948 - 26,496 Federal Home Loan Bank stock 1,800 1,800 - - 1,800 Loans, net 251,317 - - 252,792 252,792 Co-operative Central Bank deposit 886 886 - - 886 Accrued interest receivable 702 702 - - 702 Financial liabilities: Deposits 232,921 - 232,899 - 232,899 FHLB advances 29,000 - 28,660 - 28,660

Other Comprehensive Loss (Table

Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2018
Other Comprehensive Loss [Abstract]
Schedule of components of other comprehensive loss included in stockholders' equity	Years Ended December 31, 2018 2017 (In thousands) Net unrealized holding (loss)/gain on available-for-sale securities $ (312 ) $ 478 Reclassification adjustment for net realized gains included in net income (1) (493 ) (1,385 ) Other comprehensive loss before income tax effect (805 ) (907 ) Income tax benefit 208 378 Other comprehensive loss, net of tax $ (597 ) $ (529 ) (1) Reclassification adjustments include net realized securities gains and losses. Realized gains and losses have been reclassified out of accumulated other comprehensive (loss)/income and affect certain captions in the consolidated statements of income as follows: pre-tax amount for the years ended December 31, 2018 and 2017 is reflected as a gain on sale of available-for-sale securities, net of $493,000 for 2018 and a gain on sale of available-for-sale securities, net of $1,385,000 for 2017. The tax effect, included in income tax expense for the years ended December 31, 2018 and 2017 is $130,000 and $490,000, respectively. The after tax amount is included in net income.

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2018
Regulatory Matters [Abstract]
Schedule of bank's actual capital amounts and ratios	Actual For Capital To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) As of December 31, 2018: Total Capital (to Risk Weighted Assets) $ 39,152 17.86 % $ 17,538 8.0 % $ 21,923 10.0 % Tier 1 Capital (to Risk Weighted Assets) 37,828 17.26 13,154 6.0 17,538 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 37,828 17.26 9,865 4.5 14,250 6.5 Tier 1 Capital (to Average Assets) 37,828 12.17 12,431 4.0 15,539 5.0 As of December 31, 2017: Total Capital (to Risk Weighted Assets) $ 37,141 19.80 % $ 15,007 8.0 % $ 18,759 10.0 % Tier 1 Capital (to Risk Weighted Assets) 35,786 19.08 11,255 6.0 15,007 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 35,786 19.08 8,441 4.5 12,193 6.5 Tier 1 Capital (to Average Assets) 35,786 12.59 11,373 4.0 14,216 5.0

Common Stock Repurchases (Table

Common Stock Repurchases (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of common stock repurchases	Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs January 1, 2018 to January 31, 2018 - - - 141,237 February 1, 2018 through February 28, 2018 - - - 141,237 March 1, 2018 through March 31, 2018 - - - 141,237 April 1, 2018 to April 30, 2018 - - - 141,237 May 1, 2018 to May 31, 2018 10,000 19.30 10,000 131,237 June 1, 2018 to June 30, 2018 - - - 131,237 July 1, 2018 to July 31, 2018 5,000 19.50 5,000 126,237 August 1, 2018 to August 31, 2018 - - - 126,237 September 1, 2018 to September 30, 2018 2,200 19.75 2,200 124,037 October 1, 2018 to October 31, 2018 13,000 19.62 13,000 111,037 November 1, 2018 to November 30, 2018 5,400 19.35 5,400 105,637 December 1, 2018 to December 31, 2018 - - - 105,637

Condensed Parent Company Only_2

Condensed Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Schedule of balance sheets	BALANCE SHEETS (In Thousands) December 31, 2018 2017 Assets Non-interest bearing deposit in the Bank $ 634 $ 1,998 Money market funds 1,509 1,363 Cash and cash equivalents 2,143 3,361 Interest-bearing time deposits with other banks 675 - Investments in available-for-sale securities (at fair value) 2,475 3,233 Investment in subsidiary, Melrose Bank 37,472 35,997 Loan receivable ESOP 1,968 2,019 Accrued interest receivable 11 11 Deferred tax assets 186 203 Other assets 295 286 Total assets $ 45,225 $ 45,110 Liabilities and Stockholders' Equity Other liabilities $ 10 $ 117 Stockholders' equity 45,215 44,993 Total liabilities and stockholders' equity $ 45,225 $ 45,110
Schedule of statements of income	STATEMENTS OF INCOME (In Thousands) For the year ended For the year ended Interest and dividend income: Interest on cash and cash equivalents $ 10 $ 2 Interest on ESOP loan 66 67 Interest and dividends on securities 55 47 Total interest and dividend income 131 116 Noninterest expense: Salaries and employee benefits 300 300 Loss on available-for-sale securities 15 - Total noninterest expense 315 300 Loss before undistributed income of subsidiary and income tax (benefit)/expense (184 ) (184 ) Undistributed income of subsidiary 1,934 2,004 Income before income taxes 1,750 1,820 Income tax (benefit) expense (20 ) 16 Net income $ 1,770 $ 1,804
Schedule of statements of cash flows	STATEMENTS OF CASH FLOWS (In Thousands) For the year ended For the year ended Cash flows from operating activities: Net income $ 1,770 $ 1,804 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of securities, net of accretion 30 62 Loss on available-for-sale securities 15 - Increase in accrued interest receivable - (6 ) Deferred tax expense 14 175 Increase in other assets (9 ) (139 ) Decrease in other liabilities (107 ) (7 ) Stock based compensation expense 300 300 Equity in undistributed earnings of subsidiary (1,934 ) (2,004 ) Net cash provided by operating activities 79 185 Cash flows from investing activities: Purchases of interest-bearing time deposits with other banks (675 ) (898 ) Proceeds from maturities of available-for-sale securities 725 606 Repayment of principal on ESOP loan 51 51 Net cash provided by (used in) investing activities 101 (241 ) Cash flows from financing activities: Payment of income taxes for shares withheld in stock based award activity (24 ) (22 ) Cash paid for stock repurchases (694 ) - Stock options exercised 137 - Dividend paid (817 ) - Net cash used in financing activities (1,398 ) (22 ) Net decrease in cash and cash equivalents (1,218 ) (78 ) Cash and cash equivalents at beginning of year 3,361 3,439 Cash and cash equivalents at end of year $ 2,143 $ 3,361

Quarterly Data (Unaudited) (Tab

Quarterly Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	Year Ended December 31, 2018 First Second Third Fourth (Dollars in thousands, except share data) Interest and dividend income $ 2,505 $ 2,646 $ 2,812 $ 2,839 Interest expense 645 800 954 1,049 Net interest and dividend income 1,860 1,846 1,858 1,790 Provision/(benefit) for loan losses 41 132 53 (37 ) Net interest and dividend income, after provision/(benefit) for loan losses 1,819 1,714 1,805 1,827 Total noninterest income 166 182 149 259 Total noninterest expense 1,322 1,397 1,355 1,472 Income before income taxes 663 499 599 614 Provision for income taxes 180 123 157 145 Net income $ 483 $ 376 $ 442 $ 469 Earnings per share: Basic $ 0.20 $ 0.16 $ 0.19 $ 0.19 Diluted $ 0.20 $ 0.16 $ 0.18 $ 0.20 Year Ended December 31, 2017 First Second Third Fourth (Dollars in thousands, except share data) Interest and dividend income $ 2,044 $ 2,195 $ 2,348 $ 2,354 Interest expense 467 499 591 626 Net interest and dividend income 1,577 1,696 1,757 1,728 (Benefit)/provision for loan losses (20 ) 111 3 151 Net interest and dividend income, after (benefit)/provision for loan losses 1,596 1,585 1,754 1,578 Total noninterest income 507 393 494 249 Total noninterest expense 1,240 1,277 1,317 1,276 Income before income taxes 863 701 931 551 Provision for income taxes 337 280 300 325 Net income $ 526 $ 421 $ 631 $ 226 Earnings per share: Basic $ 0.22 $ 0.18 $ 0.27 $ 0.09 Diluted $ 0.22 $ 0.18 $ 0.27 $ 0.09

Nature of Operations (Details)

Nature of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 21, 2014	Dec. 31, 2018	Dec. 31, 2014
Nature Of Operations (Textual)
Aggregate issuance of common stock shares	2,829,579
Common stock , price per share	$ 10	$ 10
Net proceeds from the stock offering	$ 25,518
Stock offering costs	$ 1,716
Cash funded to charitable foundation			$ 300
Expenses recognized			$ 1,362
Shares purchased under employee stock ownership plan		226,366
Melrose Cooperative Bank
Nature Of Operations (Textual)
Aggregate issuance of common stock shares	2,723,409
Common stock , price per share	$ 10
Melrose Cooperative Bank Foundation
Nature Of Operations (Textual)
Expenses recognized		$ 1,362
Common stock, shares sold	106,170

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Net income	$ 469	$ 442	$ 376	$ 483	$ 226	$ 631	$ 421	$ 526	$ 1,770	$ 1,804
Basic Common Shares:
Weighted average common shares outstanding									2,593,248	2,601,223
Weighted average shares - unearned restricted stock									(24,965)	(33,843)
Weighted average unallocated ESOP shares									(192,412)	(199,956)
Basic weighted average shares outstanding									2,375,871	2,367,424
Dilutive effect of unvested restricted stock awards									5,383	4,873
Dilutive effect of stock options									24,700
Diluted weighted average shares outstanding									2,405,954	2,372,297
Basic earnings per share	$ 0.19	$ 0.19	$ 0.16	$ 0.2	$ 0.09	$ 0.27	$ 0.18	$ 0.22	$ 0.74	$ 0.76
Diluted earnings per share	$ 0.2	$ 0.18	$ 0.16	$ 0.2	$ 0.09	$ 0.27	$ 0.18	$ 0.22	$ 0.74	$ 0.76

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) (Parenthetical)	12 Months Ended
	Dec. 31, 2018shares
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted earnings	224,200

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies (Textual)
Company tax rate	21.00%	34.00%
Interest-bearing time deposits	5 years
Reclassified from accumulated other comprehensive income to retained earnings		$ 42
Maximum [Member]
Summary of Significant Accounting Policies (Textual)
Company tax rate	34.00%
Maximum [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]
Summary of Significant Accounting Policies (Textual)
Percentage of loan-to-value ratio	80.00%
Minimum [Member]
Summary of Significant Accounting Policies (Textual)
Company tax rate	21.00%
Furniture and equipment [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful lives	10 years
Furniture and equipment [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful lives	3 years
Buildings [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful lives	30 years
Buildings [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Textual)
Estimated useful lives	15 years

Interest-Bearing Time Deposit_3

Interest-Bearing Time Deposits with Other Banks (Details) $ in Thousands	Dec. 31, 2018USD ($)
Banking and Thrift [Abstract]
Due in one year or less
Due in one year through three years	225
Due in three years through five years	450
Total time deposits	$ 675

Investments in Available-For-_3

Investments in Available-For-Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 26,336	$ 26,193
Gross Unrealized Gains	8	522
Gross Unrealized Losses	510	219
Fair Value	25,834	26,496
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	13,791	11,364
Gross Unrealized Gains	5	7
Gross Unrealized Losses	201	77
Fair Value	13,595	11,294
Equity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	1,719	2,046
Gross Unrealized Gains	1	490
Gross Unrealized Losses	5	1
Fair Value	1,715	2,535
Collateralized Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	1,200	1,495
Gross Unrealized Gains	1
Gross Unrealized Losses	42	47
Fair Value	1,159	1,448
Preferred Stock [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	2,000	3,000
Gross Unrealized Gains		13
Gross Unrealized Losses	124
Fair Value	1,876	3,013
United States And Political Subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	2,625	2,898
Gross Unrealized Gains	1	12
Gross Unrealized Losses	29	29
Fair Value	2,597	2,881
US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	4,026	5,390
Gross Unrealized Gains
Gross Unrealized Losses	66	65
Fair Value	3,960	$ 5,325
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	975
Gross Unrealized Gains
Gross Unrealized Losses	43
Fair Value	$ 932

Investments in Available-For-_4

Investments in Available-For-Sale Securities (Details 1) $ in Thousands	Dec. 31, 2018USD ($)
Fair Value
Due within one year	$ 2,243
Due after one year through five years	16,072
Due after five years through ten years	1,620
Due after ten years	1,215
Asset-backed securities	932
Mortgage-backed securities	1,159
Total	$ 23,241

Investments in Available-For-_5

Investments in Available-For-Sale Securities (Details 2) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 10,850	$ 9,251
Less than 12 Months, Unrealized Losses	273	57
12 Months or Longer, Fair Value	11,673	7,946
12 Months or Longer, Unrealized Losses	237	162
Total, Fair Value	22,523	17,197
Total, Unrealized Losses	510	219
US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	975	2,855
Less than 12 Months, Unrealized Losses	14	20
12 Months or Longer, Fair Value	2,985	2,470
12 Months or Longer, Unrealized Losses	52	45
Total, Fair Value	3,960	5,325
Total, Unrealized Losses	66	65
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	5,882	4,467
Less than 12 Months, Unrealized Losses	80	24
12 Months or Longer, Fair Value	6,224	3,946
12 Months or Longer, Unrealized Losses	121	53
Total, Fair Value	12,106	8,413
Total, Unrealized Losses	201	77
Equity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value		485
Less than 12 Months, Unrealized Losses		1
12 Months or Longer, Fair Value	492
12 Months or Longer, Unrealized Losses	5
Total, Fair Value	492	485
Total, Unrealized Losses	5	1
Collateralized Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value		453
Less than 12 Months, Unrealized Losses		6
12 Months or Longer, Fair Value	924	995
12 Months or Longer, Unrealized Losses	42	41
Total, Fair Value	924	1,448
Total, Unrealized Losses	42	47
Preferred Stock [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	1,876
Less than 12 Months, Unrealized Losses	124
12 Months or Longer, Fair Value
12 Months or Longer, Unrealized Losses
Total, Fair Value	1,876
Total, Unrealized Losses	124
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	1,185	991
Less than 12 Months, Unrealized Losses	12	6
12 Months or Longer, Fair Value	1,048	535
12 Months or Longer, Unrealized Losses	17	23
Total, Fair Value	2,233	1,526
Total, Unrealized Losses	29	$ 29
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	932
Less than 12 Months, Unrealized Losses	43
12 Months or Longer, Fair Value
12 Months or Longer, Unrealized Losses
Total, Fair Value	1,876
Total, Unrealized Losses	$ 43

Investments in Available-For-_6

Investments in Available-For-Sale Securities (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Investments in Available for Sale Securities (Textual)
Preferred stock, no stated maturity	$ 878
Proceeds from sales of available-for-sale securities	860	$ 4,498
Gross realized gains on sales of available-for-sale securities	508	1,400
Tax expense applicable to net realized gain	130	490
Realized losses on available for sale securities	$ 15
Description of unrealized losses and federal agency obligation	Unrealized losses on U.S. Government and federal agency obligations amounted to $66,000 and consisted of eight securities, seven of which had unrealized losses that were each individually less than 3.0% of amortized cost basis, and one of which had an unrealized loss of 5.0% of amortized cost basis. Unrealized losses on municipal bonds amounted to $29,000 and consisted of six securities, four of which had unrealized losses that were each individually less than 1% of amortized cost basis, and two of which had unrealized losses of 2.3% and 3.7% of amortized cost basis. Unrealized losses on corporate bonds and notes amounted to $201,000 and consisted of twenty securities, fifteen of which had unrealized losses that were 2% or less of amortized cost basis, and five of which had unrealized losses that were each individually between 2% and 4.5% of amortized cost basis. Unrealized losses on preferred stock amounted to $124,000 and consisted of two securities, one with an unrealized loss of 0.2% of amortized cost basis and the other with an unrealized loss of 12.2% of amortized cost basis. Unrealized losses on asset-backed securities amounted to $43,000 and consisted of four securities, all with unrealized losses from 0.5% to 6.4% of amortized cost basis. Unrealized losses on mortgage-backed securities amounted to $42,000 and consisted of four securities, all with unrealized losses from 3.6% to 5.4% of amortized cost basis. Unrealized losses on marketable equity securities amounted to $5,000 and consisted of one equity security with an unrealized loss of 0.9% of amortized cost basis. The unrealized losses on all of these debt securities were primarily due to changes in interest rates.

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 269,111	$ 251,931
Allowance for loan losses	(1,323)	(1,134)	$ (890)
Deferred loan costs, net	3	35
Unamortized premiums	420	485
Net loans	268,211	251,317
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,441	15,853
Allowance for loan losses	(84)	(107)	(117)
One-to four-family residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	186,287	189,763
Allowance for loan losses	(465)	(481)	(418)
Home equity loans and lines of credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	13,565	11,585
Allowance for loan losses	(60)	(52)	(49)
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	58,780	34,686
Allowance for loan losses	(701)	(472)	(276)
Consumer loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	38	44
Allowance for loan losses	$ (1)	$ (1)	$ (1)

Loans (Details 1)

Loans (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	$ 1,134	$ 890
Charge offs		1
Recoveries
(Benefit)/provision	189	245
Ending balance	1,323	1,134
Individually evaluated for impairment		8
Collectively evaluated for impairment	1,323	1,126
Total allowance for loan losses ending balance	1,323	1,134
Individually evaluated for impairment		100
Collectively evaluated for impairment	269,111	251,831
Total loans ending balance	269,111	251,931
One- to four- family Residential [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	481	418
Charge offs
Recoveries
(Benefit)/provision	16	63
Ending balance	465	481
Individually evaluated for impairment		8
Collectively evaluated for impairment	465	473
Total allowance for loan losses ending balance	465	481
Individually evaluated for impairment		100
Collectively evaluated for impairment	186,287	189,663
Total loans ending balance	186,287	189,763
Consumer Loans [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	1	1
Charge offs		(1)
Recoveries
(Benefit)/provision		1
Ending balance	1	1
Individually evaluated for impairment
Collectively evaluated for impairment	1	1
Total allowance for loan losses ending balance	1	1
Individually evaluated for impairment
Collectively evaluated for impairment	38	44
Total loans ending balance	38	44
Commercial [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	472	276
Charge offs
Recoveries
(Benefit)/provision	229	196
Ending balance	701	472
Individually evaluated for impairment
Collectively evaluated for impairment	701	472
Total allowance for loan losses ending balance	701	472
Individually evaluated for impairment
Collectively evaluated for impairment	58,780	34,686
Total loans ending balance	58,780	34,686
Construction [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	107	117
Charge offs
Recoveries
(Benefit)/provision	23	10
Ending balance	84	107
Individually evaluated for impairment
Collectively evaluated for impairment	84	107
Total allowance for loan losses ending balance	84	107
Individually evaluated for impairment
Collectively evaluated for impairment	10,441	15,853
Total loans ending balance	10,441	15,853
Home Equity Loans and Lines of Credit [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	52	49
Charge offs
Recoveries
(Benefit)/provision	8	3
Ending balance	60	52
Individually evaluated for impairment
Collectively evaluated for impairment	60	52
Total allowance for loan losses ending balance	60	52
Individually evaluated for impairment
Collectively evaluated for impairment	13,565	11,585
Total loans ending balance	13,565	11,585
Unallocated [Member]
Schedule Of Allowance For Loan Losses [Line Items]
Beginning balance	21	29
Charge offs
Recoveries
(Benefit)/provision	9	8
Ending balance	12	21
Individually evaluated for impairment
Collectively evaluated for impairment	12	21
Total allowance for loan losses ending balance	12	21
Individually evaluated for impairment
Collectively evaluated for impairment
Total loans ending balance

Loans (Details 2)

Loans (Details 2) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 714	$ 661
Total Current	268,397	251,270
Total	269,111	251,931
90 Days or More Past Due and Accruing
Non-Accrual	348	189
Home equity loans and lines of credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		189
Total Current	13,565	11,396
Total	13,565	11,585
90 Days or More Past Due and Accruing
Non-Accrual
Consumer loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Total Current	38	44
Total	38	44
90 Days or More Past Due and Accruing
Non-Accrual
Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Total Current	10,441	15,853
Total	10,441	15,853
90 Days or More Past Due and Accruing
Non-Accrual
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Total Current	58,780	34,686
Total	58,780	34,686
90 Days or More Past Due and Accruing
Non-Accrual
One-to four-family residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	714	472
Total Current	185,573	189,291
Total	186,287	189,763
90 Days or More Past Due and Accruing
Non-Accrual	348	189
90 Days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
90 Days or More Past Due [Member] | Home equity loans and lines of credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
90 Days or More Past Due [Member] | Consumer loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
90 Days or More Past Due [Member] | Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
90 Days or More Past Due [Member] | Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
90 Days or More Past Due [Member] | One-to four-family residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	714	484
30 to 59 Days Past Due [Member] | Home equity loans and lines of credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		189
30 to 59 Days Past Due [Member] | Consumer loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
30 to 59 Days Past Due [Member] | Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
30 to 59 Days Past Due [Member] | Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
30 to 59 Days Past Due [Member] | One-to four-family residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	714	295
60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		177
60 to 89 Days Past Due [Member] | Home equity loans and lines of credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
60 to 89 Days Past Due [Member] | Consumer loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
60 to 89 Days Past Due [Member] | Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
60 to 89 Days Past Due [Member] | Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
60 to 89 Days Past Due [Member] | One-to four-family residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 177

Loans (Details Textual)

Loans (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)Advance	Dec. 31, 2017USD ($)Advance
Loans (Textual)
Credit quality information requirement description	On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate and construction loans over $350,000.
One-to-Four-Family Residential Real Estate Loans [Member]
Loans (Textual)
Troubled debt restructured, Number of loan | Advance	1	1
One- to Four-Family Residential Loan [Member]
Loans (Textual)
Number of Impaired loan | Advance	1	1
Receivables Acquired with Deteriorated Credit Quality [Member] | One-to-Four-Family Residential Real Estate Loans [Member] | Special Mention [Member]
Loans (Textual)
Total balance		$ 99
Receivables Acquired with Deteriorated Credit Quality [Member] | One-to-Four-Family Residential Real Estate Loans [Member] | Risk Rate 7 [Member]
Loans (Textual)
Impaired loan		8
Total balance	$ 100	100
Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Portfolio Segment [Member] | Risk Rating 6 W - Pass Watch [Member]
Loans (Textual)
Total balance	$ 448	$ 472
Number of loans | Advance	3	3

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 4,818	$ 4,017
Accumulated depreciation	(2,173)	(2,024)
Premises and equipment, net	2,645	1,993
Land [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	393	393
Building and improvements [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	3,305	2,070
Construction in process [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross		641
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	643	553
Data processing equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 477	$ 360

Deposits (Details)

Deposits (Details) $ in Thousands	Dec. 31, 2018USD ($)
Banking and Thrift [Abstract]
2019	$ 72,318
2020	45,232
2021	11,693
2022	1,941
2023	435
Total	$ 131,619

Deposits (Details Textual)

Deposits (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Banking and Thrift [Abstract]
FDIC insurance limit	$ 250	$ 250
Aggregate amount of time deposit	$ 28,147	$ 27,781

Federal Home Loan Bank Advanc_3

Federal Home Loan Bank Advances (Details) $ in Thousands	Dec. 31, 2018USD ($)
Federal Home Loan Bank Advances [Abstract]
2019	$ 9,000
2020	16,000
2021	9,000
Total	$ 34,000

Federal Home Loan Bank Advanc_4

Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank Advances (Textual)
Interest rates on FHLB advances	1.99%	1.78%
Co-Operative Central Bank [Member]
Federal Home Loan Bank Advances (Textual)
Maximum borrowing capacity	$ 5,000
Federal Home Loan Bank of Boston [Member]
Federal Home Loan Bank Advances (Textual)
Purchase of additional FHLB stock	$ 72,200
Federal home loan bank, description	Borrowings from the FHLB are secured by a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one-to-four family properties.
Federal Home Loan Bank of Boston [Member] | Minimum [Member]
Federal Home Loan Bank Advances (Textual)
Interest rates on FHLB advances	1.42%	1.42%
Federal Home Loan Bank of Boston [Member] | Maximum [Member]
Federal Home Loan Bank Advances (Textual)
Interest rates on FHLB advances	2.78%	2.37%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal									$ 252	$ 857
State									47	251
Current Income Tax Expense (Benefit)									299	1,108
Deferred:
Federal									214	(12)
Change in federal tax rate										181
State									92	(11)
Change in valuation allowance										(24)
Deferred Income Tax Expense (Benefit)									306	134
Total income tax expense	$ 145	$ 157	$ 123	$ 180	$ 325	$ 300	$ 280	$ 337	$ 605	$ 1,242

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal income tax at statutory rate	21.00%	34.00%
State tax, net of federal tax benefit	4.60%	5.20%
Change in valuation allowance		(0.80%)
Change in tax rate		5.90%
Dividends received deduction	(0.20%)	(0.50%)
Bank-owned life insurance	(1.40%)	(1.80%)
Credits		(2.30%)
Stock compensation	0.30%	1.10%
Tax exempt income	(0.80%)	(1.00%)
ESOP	0.60%	0.70%
Other	1.40%	0.30%
Effective tax rates	25.50%	40.80%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Allowance for loan losses	$ 372	$ 319
Deferred compensation	108	83
Security writedowns	5	5
ESOP	23	16
Stock based compensation	61	47
Accrued expenses	44	31
Net unrealized holding loss on available-for-sale securities	114
Gross deferred tax assets	902	705
Valuation allowance	(66)	(66)
Gross deferred tax assets, net of valuation allowance	836	639
Deferred tax liabilities:
Accelerated depreciation	(561)	(181)
Prepaid expenses	(9)
Net unrealized holding gain on available-for-sale securities		(94)
Gross deferred tax liabilities	(570)	(275)
Net deferred tax asset	$ 266	$ 364

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Dec. 31, 2018	Dec. 31, 2014	Dec. 31, 2017
Contribution to Melrose Cooperative Bank Foundation			$ 1,362
Valuation allowance against deferred tax assets		$ 66		$ 66
Income tax charitable contribution carry forward		686
Liability for uncertain tax positions		$ 0		0
Deferred tax assets tax expense				$ 181,000
Corporate income tax rate, description		Corporate income tax rate from 34% to 21% under the TCJA.
Federal income tax rate, description	The U.S. government enacted the Tax Cuts and Jobs Act (TCJA), a comprehensive tax legislation which, among other things, reduced the federal income tax rate for C corporations to 21% effective January 1, 2018.
Melrose Bancorp, Inc. [Member]
Valuation allowance against deferred tax assets		$ 107
Melrose Cooperative Bank Foundation [Member]
Contribution to Melrose Cooperative Bank Foundation		1,362
Valuation allowance against deferred tax assets		$ 66

Benefit Plans (Details)

Benefit Plans (Details) $ in Thousands	Dec. 31, 2018USD ($)
Compensation and Retirement Disclosure (Textual)
2019	$ 52
2020	54
2021	56
2022	58
2023	59
Thereafter	1,689
Loans receivable ESOP	$ 1,968

Benefit Plans (Details 1)

Benefit Plans (Details 1) - shares	Dec. 31, 2018	Dec. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Allocated	37,728	30,182
Unallocated	188,638	196,184
Shares held by ESOP	226,366	226,366

Benefit Plans (Details Textual)

Benefit Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	May 12, 2016	Dec. 31, 2018	Dec. 31, 2017
Employee vesting period		5 years
Common stock purchased by ESOP		226,366	226,366
Common stock purchased by ESOP, per share		$ 10
Percentage of aggregate purchase price of common stock		100.00%
Loan repayment period		29 years 2 months 12 days
Defined contribution plan, vesting percentage per year		20.00%
Loans receivable ESOP		$ 1,968
Compensation expense recognized		147	$ 136
Fair value of unallocated ESOP shares		$ 3,388
Number of shares authorized under plan		396,140
Number of shares held by the ESOP		226,366
Two Thousand And Fifteen Equity Incentive Plan [Member] | Employee Stock Option [Member]
Stock-based compensation expense, related tax benefits		$ 13	18
Number of shares granted	224,200
Stock options granted, exercise price	$ 15.13
Weighted average remaining years to vest	5 years
Expected volatility	20.24%
Stock options granted, fair value	$ 15.13
Expected option life	6 years 6 months
Period of U.S. Treasury rate	7 years
Annual risk free interest rate	1.54%
Estimated fair value of award determined by Black-Scholes option pricing model	$ 3.71
Aggregate intrinsic value		609
Stock option expense		$ 166	166
Options forfeited		0
Number of shares outstanding		215,100
Number of shares exercisable		215,100
Stock options exercised		9,100
Two Thousand And Fifteen Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Number of shares authorized under plan		113,183
Stock options exercised		282,957
Two Thousand And Fifteen Equity Incentive Plan [Member] | Restricted Stock [Member]
Number of shares awarded	44,300
Weighted-average grant-date fair values of options granted per share	$ 15.13
Award vesting period	5 years
Minimum vesting period from date of grant	1 year
Stock-based compensation expense		$ 134	134
Stock-based compensation expense, related tax benefits		$ 35	54
Number of unvested restricted stock awarded		35,440
Unrecognized share based compensation expense		$ 317
Unrecognized compensation costs, weighted-average recognition period		2 years 3 months 19 days
Two Thousand And Fifteen Equity Incentive Plan [Member] | Restricted Stock [Member] | Employee Stock Option [Member]
Unrecognized compensation costs, weighted-average recognition period		7 years 3 months 19 days
Weighted average remaining contractual terms, exercisable		2 years 3 months 19 days
Unrecognized compensation costs		$ 392
Stock options exercised		80,580
Pentegra Plan [Member]
Employer's expense under 401(k) plan		$ 84	82
Employees contribution to benefit plan		100.00%
Matching contribution by employer		5.00%
Supplemental Executive Retirement Benefits [Member]
Liability for retirement benefit plans		$ 384	294
Employee vesting period		5 years
Expense recognized for benefit plan		$ 90	$ 86

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	$ 29,775	$ 22,332
Due to borrowers on unadvanced construction loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	4,182	2,320
Commitments to originate loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	4,753	2,401
Unused lines of credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instrument liabilities with off-balance sheet credit risk	$ 20,840	$ 17,611

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	$ 25,834	$ 26,496
U.S. Government and Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	3,960	5,325
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	2,597	2,881
Corporate Bonds and Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	13,595	11,294
Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,876	3,013
Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	932
Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,159	1,448
Marketable Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,715	2,535
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	3,591	5,548
Level 1 [Member] | U.S. Government and Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 1 [Member] | Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 1 [Member] | Corporate Bonds and Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 1 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,876	3,013
Level 1 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 1 [Member] | Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 1 [Member] | Marketable Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,715	2,535
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	22,243	20,948
Level 2 [Member] | U.S. Government and Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	3,960	5,325
Level 2 [Member] | Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	2,597	2,881
Level 2 [Member] | Corporate Bonds and Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	13,595	11,294
Level 2 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 2 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	932
Level 2 [Member] | Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis	1,159	1,448
Level 2 [Member] | Marketable Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | U.S. Government and Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | Corporate Bonds and Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | Asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | Mortgage-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis
Level 3 [Member] | Marketable Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value on a recurring basis

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financial assets:
Cash and cash equivalents	$ 15,195	$ 17,603
Interest-bearing time deposits with other banks	675
Available-for-sale securities	25,834	26,496
Federal Home Loan Bank stock	2,285	1,800
Loans, net	268,211	251,317
Co-operative Central Bank deposit	881	886
Accrued interest receivable	778	702
Financial liabilities:
Deposits	244,056	232,921
FHLB advances	34,000	29,000
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	15,195	17,603
Interest-bearing time deposits with other banks	675
Available-for-sale securities	25,834	26,496
Federal Home Loan Bank stock	2,285	1,800
Loans, net	268,211	251,317
Co-operative Central Bank deposit	881	886
Accrued interest receivable	778	702
Financial liabilities:
Deposits	244,056	232,921
FHLB advances	34,000	29,000
Estimate of Fair Value Measurement [Member]
Financial assets:
Cash and cash equivalents	15,195	17,603
Interest-bearing time deposits with other banks	670
Available-for-sale securities	25,834	26,496
Federal Home Loan Bank stock	2,285	1,800
Loans, net	266,635	252,792
Co-operative Central Bank deposit	881	886
Accrued interest receivable	778	702
Financial liabilities:
Deposits	243,911	232,899
FHLB advances	33,642	28,660
Estimate of Fair Value Measurement [Member] | Level 1 [Member]
Financial assets:
Cash and cash equivalents	15,195	17,603
Interest-bearing time deposits with other banks
Available-for-sale securities	3,591	5,548
Federal Home Loan Bank stock	2,285	1,800
Loans, net
Co-operative Central Bank deposit	881	886
Accrued interest receivable	778	702
Financial liabilities:
Deposits
FHLB advances
Estimate of Fair Value Measurement [Member] | Level 2 [Member]
Financial assets:
Cash and cash equivalents
Interest-bearing time deposits with other banks	670
Available-for-sale securities	22,243	20,948
Federal Home Loan Bank stock
Loans, net
Co-operative Central Bank deposit
Accrued interest receivable
Financial liabilities:
Deposits	243,911	232,899
FHLB advances	33,642	28,660
Estimate of Fair Value Measurement [Member] | Level 3 [Member]
Financial assets:
Cash and cash equivalents
Available-for-sale securities
Federal Home Loan Bank stock
Loans, net	266,635	252,792
Co-operative Central Bank deposit
Accrued interest receivable
Financial liabilities:
Deposits
FHLB advances

Other Comprehensive Loss (Detai

Other Comprehensive Loss (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Other Comprehensive Loss [Abstract]
Net unrealized holding (loss)/gain on available-for-sale securities		$ (312)	$ 478
Reclassification adjustment for net realized gains included in net income	[1]	(493)	(1,385)
Other comprehensive loss before income tax effect		(805)	(907)
Income tax benefit		208	378
Other comprehensive loss, net of tax		$ (597)	$ (529)
[1]	Reclassification adjustments include net realized securities gains and losses. Realized gains and losses have been reclassified out of accumulated other comprehensive (loss)/income and affect certain captions in the consolidated statements of income as follows: pre-tax amount for the years ended December 31, 2018 and 2017 is reflected as a gain on sale of available-for-sale securities, net of $493,000 for 2018 and a gain on sale of available-for-sale securities, net of $1,385,000 for 2017. The tax effect, included in income tax expense for the years ended December 31, 2018 and 2017 is $130,000 and $490,000, respectively. The after tax amount is included in net income.

Other Comprehensive Loss (Det_2

Other Comprehensive Loss (Details Textual) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Other Comprehensive Loss (Textual)
Reclassification adjustment for net realized gains in net income	[1]	$ 493	$ 1,385
Reclassification out of Accumulated Other Comprehensive Income [Member]
Other Comprehensive Loss (Textual)
Tax benefit, included in income tax expense		$ 130	$ 490
[1]	Reclassification adjustments include net realized securities gains and losses. Realized gains and losses have been reclassified out of accumulated other comprehensive (loss)/income and affect certain captions in the consolidated statements of income as follows: pre-tax amount for the years ended December 31, 2018 and 2017 is reflected as a gain on sale of available-for-sale securities, net of $493,000 for 2018 and a gain on sale of available-for-sale securities, net of $1,385,000 for 2017. The tax effect, included in income tax expense for the years ended December 31, 2018 and 2017 is $130,000 and $490,000, respectively. The after tax amount is included in net income.

Regulatory Matters (Details)

Regulatory Matters (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Regulatory Matters [Abstract]
Total Capital (to Risk Weighted Assets), Actual Amount	$ 39,152	$ 37,141
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	37,828	35,786
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Amount	37,828	35,786
Tier 1 Capital (to Average Assets), Actual Amount	$ 37,828	$ 35,786
Total Capital (to Risk Weighted Assets), Actual Ratio	17.86%	19.80%
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	17.26%	19.08%
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	17.26%	19.08%
Tier 1 Capital (to Average Assets), Actual Ratio	12.17%	12.59%
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 17,538	$ 15,007
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	13,154	11,255
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	9,865	8,441
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Amount	$ 12,431	$ 11,373
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	8.00%	8.00%
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	6.00%	6.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purpose, Ratio	4.50%	4.50%
Tier 1 Capital (to Average Assets), For Capital Adequacy Purpose, Ratio	4.00%	4.00%
Total Capital (to Risk Weighted Assets), Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 21,923	$ 18,759
Tier 1 Capital (to Risk Weighted Assets), Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	17,538	15,007
Common Equity Tier 1 Capital (to Risk Weighted Assets), Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	14,250	12,193
Tier 1 Capital (to Average Assets), Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 15,539	$ 14,216
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%	8.00%
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%	6.50%
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%	5.00%

Regulatory Matters (Details Tex

Regulatory Matters (Details Textual)	Jan. 01, 2015	Dec. 31, 2018	Dec. 31, 2017
Regulatory Matters (Textual)
Common equity tier 1 capital ratio		4.50%	4.50%
Minimum tier 1 capital to risk-weighted assets ratio		6.00%	6.00%
Tier 1 leverage ratio, minimum capital requirement ratio		4.00%	4.00%
Common equity tier 1 capital, minimum to be well capitalized ratio		6.50%	6.50%
Tier 1 capital to risk weighted assets, minimum to be well capitalized ratio		8.00%	8.00%
Total capital to risk weighted assets, minimum to be well capitalized ratio		10.00%	10.00%
Tier 1 leverage ratio, minimum to be well capitalized ratio		5.00%	5.00%
Capital regulations [Member]
Regulatory Matters (Textual)
Common equity tier 1 capital ratio	4.50%
Minimum tier 1 capital to risk-weighted assets ratio	6.00%
Total capital to risk weighted assets, minimum capital requirement ratio	8.00%
Tier 1 leverage ratio, minimum capital requirement ratio	4.00%
Common equity tier 1 capital, minimum to be well capitalized ratio	6.50%
Tier 1 capital to risk weighted assets, minimum to be well capitalized ratio	8.00%
Total capital to risk weighted assets, minimum to be well capitalized ratio	10.00%
Tier 1 leverage ratio, minimum to be well capitalized ratio	5.00%
Regulatory requirements capital ratios, description	The regulations establish a capital conservation buffer above the required capital ratios that begin phasing in January 1, 2016 at 0.625% of risk-weighted assets and increases each year by 0.625% until it is fully phased in at 2.5% effective January 1, 2019.
Minimum [Member]
Regulatory Matters (Textual)
Phase in period term	2 years
Maximum [Member]
Regulatory Matters (Textual)
Phase in period term	4 years

Common Stock Repurchases (Detai

Common Stock Repurchases (Details)	12 Months Ended
	Dec. 31, 2018$ / sharesshares
January 1, 2018 to January 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	141,237
February 1, 2018 through February 28, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	141,237
March 1, 2018 through March 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	141,237
April 1, 2018 to April 30, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	141,237
May 1, 2018 to May 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased	10,000
Average Price Paid Per Share | $ / shares	$ 19.30
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	10,000
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	131,237
June 1, 2018 to June 30, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	131,237
July 1, 2018 to July 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased	5,000
Average Price Paid Per Share | $ / shares	$ 19.50
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	5,000
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	126,237
August 1, 2018 to August 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	126,237
September 1, 2018 to September 30, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased	2,200
Average Price Paid Per Share | $ / shares	$ 19.75
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	2,200
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	124,037
October 1, 2018 to October 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased	13,000
Average Price Paid Per Share | $ / shares	$ 19.62
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	13,000
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	111,037
November 1, 2018 to November 30, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased	5,400
Average Price Paid Per Share | $ / shares	$ 19.35
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	5,400
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	105,637
December 1, 2018 to December 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of Shares Purchased
Average Price Paid Per Share | $ / shares
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs	105,637

Common Stock Repurchases (Det_2

Common Stock Repurchases (Details Textual) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 14, 2017
Common Stock Repurchases (Textual)
Number of shares authorized to be repurchased			283,000
Additional number of shares authorized for repurchase			130,037
Additional number of shares authorized for repurchase, percentage			5.00%
Remaining number of shares authorized to be repurchased			11,200
Repurchased shares of common stock	1,219	1,336

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Loans amount	$ 2,138	$ 2,274
New loan disbursements	91	439
Advances amount		13
Principal payments totaled	227	138
Loan payoffs totaled		495
Deposits from related parties	$ 4,780	$ 3,603

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 11, 2019	Jan. 10, 2019	Feb. 25, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Common stock dividend declared, cash				$ 0.34
Repurchased value				$ 694
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock dividend declared, cash		$ 0.34
Dividend payable declared date		Feb. 14, 2019
Dividend payable recorded date		Jan. 29, 2019
Subsequent event, description	Under the expanded repurchase plan, the Company is authorized to repurchase an additional 253,702 shares, representing approximately 10.0% of the Company's issued and outstanding shares of common stock as of January 10, 2019. At that date, the Company had 105,637 shares remaining to be purchased under its previously announced share repurchase plans.
Repurchased shares of common stock			132,891
Common stock average cost			$ 18.85
Repurchased value			$ 2,500

Condensed Parent Company Only_3

Condensed Parent Company Only Financial Statements (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Non-interest bearing deposit in the Bank	$ 8,734	$ 8,903
Money market funds	3,387	3,963
Cash and cash equivalents	15,195	17,603	$ 13,792
Interest-bearing time deposits with other banks	675
Investments in available-for-sale securities (at fair value)	25,834	26,496
Loan receivable ESOP	1,968
Accrued interest receivable	778	702
Deferred tax assets	836	639
Other assets	881	275
Total assets	323,954	307,526
Liabilities and Stockholders' Equity
Other liabilities	683	612
Stockholders' equity	45,215	44,993	$ 43,304
Total liabilities and stockholders' equity	323,954	307,526
Parent Company [Member]
Assets
Non-interest bearing deposit in the Bank	634	1,998
Money market funds	1,509	1,363
Cash and cash equivalents	2,143	3,361
Interest-bearing time deposits with other banks	675
Investments in available-for-sale securities (at fair value)	2,475	3,233
Investment in subsidiary, Melrose Bank	37,472	35,997
Loan receivable ESOP	1,968	2,019
Accrued interest receivable	11	11
Deferred tax assets	186	203
Other assets	295	286
Total assets	45,225	45,110
Liabilities and Stockholders' Equity
Other liabilities	10	117
Stockholders' equity	45,215	44,993
Total liabilities and stockholders' equity	$ 45,225	$ 45,110

Condensed Parent Company Only_4

Condensed Parent Company Only Financial Statements (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Interest and dividend income:
Total interest and dividend income	$ 2,839	$ 2,812	$ 2,646	$ 2,505	$ 2,354	$ 2,348	$ 2,195	$ 2,044	$ 10,802	$ 8,941
Noninterest expense:
Salaries and employee benefits									3,406	3,240
Total noninterest expense	1,472	1,355	1,397	1,322	1,276	1,317	1,277	1,240	5,546	5,110
Loss before undistributed income of subsidiary and income tax expense (benefit)/expense									2,375	3,046
Income before income taxes	614	599	499	663	551	931	701	863
Income tax (benefit) expense	145	157	123	180	325	300	280	337	605	1,242
Net income	$ 469	$ 442	$ 376	$ 483	$ 226	$ 631	$ 421	$ 526	1,770	1,804
Parent Company [Member]
Interest and dividend income:
Interest on cash and cash equivalents									10	2
Interest on ESOP loan									66	67
Interest and dividends on securities									55	47
Total interest and dividend income									131	116
Noninterest expense:
Salaries and employee benefits									300	300
Loss on available-for-sale securities									15
Total noninterest expense									315	300
Loss before undistributed income of subsidiary and income tax expense (benefit)/expense									(184)	(184)
Undistributed income of subsidiary									1,934	2,004
Income before income taxes									1,750	1,820
Income tax (benefit) expense									(20)	16
Net income									$ 1,770	$ 1,804

Condensed Parent Company Only_5

Condensed Parent Company Only Financial Statements (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 469	$ 442	$ 376	$ 483	$ 226	$ 631	$ 421	$ 526	$ 1,770	$ 1,804
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion									177	144
Increase in accrued interest receivable									76	130
Deferred tax expense									306	134
Increase in other assets									(606)	(76)
Decrease in other liabilities									71	36
Stock based compensation expense									300	300
Net cash provided by operating activities									1,871	1,117
Cash flows from investing activities:
Purchases of interest-bearing time deposits with other banks									(675)
Proceeds from maturities of available-for-sale securities									6,817	5,385
Net cash provided by (used in) investing activities									(19,016)	(34,439)
Cash flows from financing activities:
Payment of income taxes for shares withheld in stock based award activity									(24)	(22)
Cash paid for stock repurchases									(694)
Stock options exercised									137
Dividend paid									817
Net cash used in financing activities									14,737	37,133
Net decrease in cash and cash equivalents									(2,408)	3,811
Cash and cash equivalents at beginning of the year				17,603				$ 13,792	17,603	13,792
Cash and cash equivalents at end of the year	15,195				17,603				15,195	17,603
Parent Company [Member]
Cash flows from operating activities:
Net income									1,770	1,804
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion									30	62
Loss on available-for-sale securities									15
Increase in accrued interest receivable										(6)
Deferred tax expense									14	175
Increase in other assets									(9)	(139)
Decrease in other liabilities									(107)	(7)
Stock based compensation expense									300	300
Equity in undistributed earnings of subsidiary									(1,934)	(2,004)
Net cash provided by operating activities									79	185
Cash flows from investing activities:
Purchases of interest-bearing time deposits with other banks									(675)	(898)
Proceeds from maturities of available-for-sale securities									725	606
Repayment of principal on ESOP loan									51	51
Net cash provided by (used in) investing activities									101	(241)
Cash flows from financing activities:
Payment of income taxes for shares withheld in stock based award activity									(24)	(22)
Cash paid for stock repurchases									(694)
Stock options exercised									137
Dividend paid									(817)
Net cash used in financing activities									(1,398)	(22)
Net decrease in cash and cash equivalents									(1,218)	(78)
Cash and cash equivalents at beginning of the year				$ 3,361					3,361
Cash and cash equivalents at end of the year	$ 2,143				$ 3,361				$ 2,143	$ 3,361

Quarterly Data (Unaudited) (Det

Quarterly Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Interest and dividend income	$ 2,839	$ 2,812	$ 2,646	$ 2,505	$ 2,354	$ 2,348	$ 2,195	$ 2,044	$ 10,802	$ 8,941
Interest expense	1,049	954	800	645	626	591	499	467	3,448	2,183
Net interest and dividend income	1,790	1,858	1,846	1,860	1,728	1,757	1,696	1,577	7,354	6,758
Provision/(benefit) for loan losses	(37)	53	132	41	151	3	111	(20)
Net interest and dividend income, after provision/(benefit) for loan losses	1,827	1,805	1,714	1,819	1,578	1,754	1,585	1,596	7,165	6,513
Total noninterest income	259	149	182	166	249	494	393	507	756	1,643
Total noninterest expense	1,472	1,355	1,397	1,322	1,276	1,317	1,277	1,240	5,546	5,110
Income before income taxes	614	599	499	663	551	931	701	863
Provision for income taxes	145	157	123	180	325	300	280	337	605	1,242
Net income	$ 469	$ 442	$ 376	$ 483	$ 226	$ 631	$ 421	$ 526	$ 1,770	$ 1,804
Earnings per share:
Basic	$ 0.19	$ 0.19	$ 0.16	$ 0.2	$ 0.09	$ 0.27	$ 0.18	$ 0.22	$ 0.74	$ 0.76
Diluted	$ 0.2	$ 0.18	$ 0.16	$ 0.2	$ 0.09	$ 0.27	$ 0.18	$ 0.22	$ 0.74	$ 0.76