FSB Bancorp 10-Q/A 14 Aug 18 2018 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Aug. 10, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	FSB Bancorp, Inc.
Entity Central Index Key	1,667,939
Trading Symbol	fsbc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,943,253
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2018
Amendment Flag	true
Amendment Description	EXPLANATORY NOTE FSB Bancorp, Inc. (the “Company”) is filing this amendment to its quarterly report on Form 10-Q for the period ended March 31, 2018 to amend and restate financial statements and certain other financial information filed with the Securities and Exchange Commission (“SEC”). These amendments restate the Consolidated Financial Statements and the other financial information for the three months ended March 31, 2018 and 2017, and the audited consolidated balance sheet as of December 31, 2017 (the “Restatement Periods”). These amendments are being filed to change the Company’s treatment of mortgage recording tax expense for residential mortgage loans originated in Erie County, New York beginning in the fourth quarter of 2016 through the first quarter of 2018. Effective for the 2015 tax year, New York state tax law was amended and allowed the Company to become eligible to recapture a portion of the special additional mortgage recording tax paid on mortgages and the Company elected to have the overpayment of tax refunded for the years ended December 31, 2015 through December 31, 2017 and the first quarter ended March 31, 2018 rather than used as a credit carryforward. As part of a review of the Company’s 2015 state tax return by the New York State Department of Taxation and Finance, management became aware that the Company had been incorrectly claiming a tax credit for residential mortgages on property located in Erie County, the Company’s second largest county for mortgage originations. Pursuant to New York State Department of Taxation and Finance rules, no tax credit will be allowed for payment of the special additional mortgage recording tax with respect to a mortgage of real property located in Erie County and the mortgage was recorded after 1987. Upon recommendation of management, the Audit Committee of the Company determined that the effect of reversing the tax credits was necessary for the Restatement Periods. The Company estimates that the cumulative effect of the restatement due to the origination of residential mortgage loans in Erie County beginning in the fourth quarter of 2016 through the first quarter of 2018 is a reduction in income before income taxes of $266,000 and a reduction in income net of income taxes of $178,000. The effect this restatement had on earnings for the respective comparative periods is as follows: For the three For the three months ended months ended (In thousands, except per share data) March 31, 2018 March 31, 2017 Mortgage fees and taxes $ 19 $ 24 Benefit for income taxes (4 ) (8 ) Net income (loss) $ (15 ) $ (16 ) Earnings per common share – basic and diluted $ (0.01 ) $ (0.01 ) Items 1, 2 and 4 have been amended to reflect the restatements. All other information contained in the original filing remains unchanged. For convenience of the reader, we have included in this amendment our entire Quarterly Report on Form 10-Q, as amended hereby. For additional information on the restatement see Note 1, Restatement in the Notes to the Unaudited Consolidated Financial Statements.
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets (Re

Consolidated Balance Sheets (Restated) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
ASSETS:
Cash and due from banks	[1]	$ 1,484	$ 1,672
Interest earning demand deposits	[1]	6,220	8,725
Total cash and cash equivalents	[1]	7,704	10,397
Available-for-sale securities, at fair value	[1]	17,792	18,313
Held-to-maturity securities, at amortized cost (fair value of $6,356 and $6,588, respectively)	[1]	6,404	6,575
Investment in restricted stock, at cost	[1]	3,274	3,270
Loans held for sale	[1]	2,244	2,770
Loans	[1]	267,877	263,972
Less: Allowance for loan losses		(1,336)	(1,261)
Loans receivable, net	[1]	266,541	262,711
Bank owned life insurance	[1]	3,773	3,758
Accrued interest receivable	[1]	809	824
Premises and equipment, net	[1]	2,975	3,064
Other assets	[1]	2,884	2,700
Total assets	[1]	314,400	314,382
Deposits:
Non-interest bearing	[1]	8,146	8,385
Interest bearing	[1]	208,611	208,306
Total deposits	[1]	216,757	216,691
Short-term borrowings	[1]	11,500	13,000
Long-term borrowings	[1]	53,035	51,447
Official bank checks	[1]	754	929
Other liabilities	[1]	1,217	1,259
Total liabilities	[1]	283,263	283,326
Stockholders' equity:
Preferred stock - par value $0.01; 25,000,000 shares authorized, no shares issued and outstanding	[1]
Common stock, par value $0.01; 50,000,000 authorized shares; 1,941,253 and 1,934,853 shares issued and outstanding, respectively	[1]	19	19
Paid-in capital	[1]	15,531	15,441
Retained earnings	[1]	16,151	16,077
Accumulated other comprehensive loss		(257)	(165)
Unearned ESOP shares, at cost	[1]	(307)	(316)
Total stockholders' equity	[1]	31,137	31,056
Total liabilities and stockholders' equity	[1]	$ 314,400	$ 314,382
[1]	Restated

Consolidated Balance Sheets (R3

Consolidated Balance Sheets (Restated) (Parenthenticals) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Fair value securities held to maturity (in dollars)	[1]	$ 6,356	$ 6,588
Preferred stock - par value (in dollars per share)	[1]	$ 0.01	$ 0.01
Preferred stock, shares authorized	[1]	25,000,000	25,000,000
Preferred stock, shares issued	[1]	0	0
Preferred stock, shares outstanding	[1]	0	0
Common stock - par value (in dollars per share)	[1]	$ 0.01	$ 0.01
Common stock, shares authorized	[1]	50,000,000	50,000,000
Common stock, shares issued	[1]	1,941,253	1,934,853
Common stock, shares outstanding	[1]	1,941,253	1,934,853
[1]	Restated

Consolidated Statements of Inco

Consolidated Statements of Income (Restated) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Interest and dividend income:
Loans, including fees	[1]	$ 2,826	$ 2,354
Securities:
Taxable	[1]	94	69
Tax-exempt	[1]	26	29
Mortgage-backed securities	[1]	40	30
Other	[1]	10	4
Total interest and dividend income	[1]	2,996	2,486
Interest expense:
Interest on deposits	[1]	563	371
Interest on short-term borrowings	[1]	47	17
Interest on long-term borrowings	[1]	234	203
Total interest expense	[1]	844	591
Net interest income	[1]	2,152	1,895
Provision for loan losses	[1]	75	52
Net interest income after provision for loan losses	[1]	2,077	1,843
Other income:
Service fees	[1]	32	40
Fee income	[1]	39	35
Increase in cash surrender value of bank owned life insurance	[1]	15	15
Realized gain on sale of loans	[1]	348	326
Mortgage fee income	[1]	174	172
Other	[1]	60	48
Total other income	[1]	668	636
Other expense:
Salaries and employee benefits	[1]	1,627	1,524
Occupancy	[1]	281	269
Data processing costs	[1]	101	81
Advertising	[1]	33	43
Equipment	[1]	143	143
Electronic banking	[1]	31	7
Directors' fees	[1]	58	72
Mortgage fees and taxes	[1]	52	48
FDIC premium expense	[1]	26	26
Audits and tax services	[1]	49	52
Other	[1]	252	255
Total other expenses	[1]	2,653	2,520
Income (loss) before income taxes	[1]	92	(41)
Provision (benefit) for income taxes	[1]	18	(36)
Net income (loss)	[1]	$ 74	$ (5)
Earnings per common share - basic and diluted (in dollars per share)	[1]	$ 0.04	$ 0
[1]	Restated

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Restated) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Statement Of Income and Comprehensive Income [Abstract]
Net Income (Loss)	[1]	$ 74	$ (5)
Unrealized holding gains (losses) on available-for-sale securities
Unrealized holding gains (losses) arising during the period	[1]	(118)	15
Net unrealized gain (loss) on available for sale securities	[1]	(118)	15
Other comprehensive income (loss), before tax	[1]	(118)	15
Tax effect	[1]	(26)	5
Other comprehensive income (loss), net of tax	[1]	(92)	10
Comprehensive income (loss)	[1]	(18)	5
Tax Effect Allocated to Each Component of Other Comprehensive Income
Unrealized holding gains (losses) arising during the period	[1]	(26)	5
Income tax effect related to other comprehensive income (loss)	[1]	$ (26)	$ 5
[1]	Restated

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Restated) (Unaudited) - USD ($) $ in Thousands		Common Stock	Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Unearned ESOP	Total
Balance, beginning of period at Dec. 31, 2016	[1]	$ 19	$ 16,352	$ 15,839	$ (85)	$ (350)	$ 31,775
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	[1]			(5)			(5)
Other comprehensive income (loss), net of tax	[1]				10		10
ESOP shares committed to be released	[1]		4			9	13
Balance, end of period at Mar. 31, 2017	[1]	19	16,356	15,834	(75)	(341)	31,793
Balance, beginning of period at Dec. 31, 2017	[1]	19	15,441	16,077	(165)	(316)	31,056
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	[1]			74			74
Other comprehensive income (loss), net of tax	[1]				(92)		(92)
ESOP shares committed to be released	[1]		14			9	23
Stock based compensation	[1]		76				76
Balance, end of period at Mar. 31, 2018	[1]	$ 19	$ 15,531	$ 16,151	$ (257)	$ (307)	$ 31,137
[1]	Restated

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Restated) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
OPERATING ACTIVITIES
Net income (loss)	[1]	$ 74	$ (5)
Adjustments to reconcile net income to net cash flows from operating activities:
Net amortization of premiums and accretion of discounts on investments	[1]	21	35
Gain on sale of loans	[1]	(348)	(326)
Proceeds from loans sold	[1]	19,263	11,567
Loans originated for sale	[1]	(18,389)	(13,116)
Amortization of net deferred loan origination costs	[1]	357	276
Depreciation and amortization	[1]	113	120
Provision for loan losses	[1]	75	52
Expense related to ESOP	[1]	23	13
Deferred income tax benefit	[1]	(2)	(38)
Earnings on investment in bank owned life insurance	[1]	(15)	(15)
Decrease (Increase) in accrued interest receivable	[1]	15	(53)
Increase in other assets	[1]	(182)	(168)
Decrease in other liabilities	[1]	(16)	(418)
Net cash flows from operating activities	[1]	989	(2,076)
INVESTING ACTIVITIES
Purchases of securities available-for-sale	[1]		(1,500)
Proceeds from principal paydowns on securities available-for-sale	[1]	390	873
Proceeds from principal paydowns on securities held-to-maturity	[1]	163	82
Net increase in loans	[1]	(4,262)	(9,923)
Purchase of restricted stock, net	[1]	(4)	(483)
Purchase of premises and equipment	[1]	(24)	(171)
Net cash flows from investing activities	[1]	(3,737)	(11,122)
FINANCING ACTIVITIES
Net increase in deposits	[1]	66	3,750
Proceeds from long-term borrowings	[1]	7,000	5,501
Repayments on long-term borrowings	[1]	(5,412)	(4,053)
Proceeds from (repayments on) short-term borrowings, net	[1]	(1,500)	7,500
Stock based compensation	[1]	76
Net (decrease) increase in official bank checks	[1]	(175)	275
Net cash flows from financing activities	[1]	55	12,973
Change in cash and cash equivalents	[1]	(2,693)	(225)
Cash and cash equivalents at beginning of period	[1]	10,397	7,407
Cash and cash equivalents at end of period	[1]	7,704	7,182
CASH PAID DURING THE PERIOD FOR:
Interest	[1]	805	584
Income taxes	[1]	$ 0	$ 0
[1]	Restated

Restatement

Restatement	3 Months Ended
	Mar. 31, 2018
Restatement of Prior Year Income [Abstract]
Restatement	Note 1: Restatement The Company is filing this amendment to its quarterly report on Form 10-Q for the period ended March 31, 2018 to amend and restate financial statements and certain other financial information filed with the SEC. These amendments restate the Consolidated Financial Statements and the other financial information for the three months ended March 31, 2018 and 2017, and the audited consolidated balance sheet as of December 31, 2017 (the “Restatement Periods”). These amendments are being filed to change the Company’s treatment of mortgage recording tax expense for residential mortgage loans originated in Erie County, New York beginning in the fourth quarter of 2016 through the first quarter of 2018. Effective for the 2015 tax year, New York state tax law was amended and allowed the Company to become eligible to recapture a portion of the special additional mortgage recording tax paid on mortgages and the Company elected to have the overpayment of tax refunded for the years ended December 31, 2015 through December 31, 2017 and the first quarter ended March 31, 2018 rather than used as a credit carryforward. As part of a review of the Company’s 2015 state tax return by the New York State Department of Taxation and Finance, management became aware that the Company had been incorrectly claiming a tax credit for residential mortgages on property located in Erie County, the Company’s second largest county for mortgage originations. Pursuant to New York State Department of Taxation and Finance rules, no tax credit will be allowed for payment of the special additional mortgage recording tax with respect to a mortgage of real property located in Erie County and the mortgage was recorded after 1987. Upon recommendation of management, the Audit Committee of the Company determined that the effect of reversing the tax credits was necessary for the Restatement Periods. The Company estimates that the cumulative effect of the restatement due to the origination of residential mortgage loans in Erie County beginning in the fourth quarter of 2016 through the first quarter of 2018 is a reduction in income before income taxes of $266,000 and a reduction in income net of income taxes of $178,000. The effect this restatement had on the Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Stockholders’ Equity, and Consolidated Statements of Cash Flows for the respective periods is as follows: At March 31, 2018 At December 31, 2017 Restated Consolidated Balance Sheet: As Originally Reported As Restated As Originally Reported As Restated (Dollars in Thousands) Other assets $ 3,151 $ 2,884 $ 2,948 $ 2,700 Total assets $ 314,667 $ 314,400 $ 314,630 $ 314,382 Other liabilities $ 1,306 $ 1,217 $ 1,344 $ 1,259 Total liabilities $ 283,352 $ 283,263 $ 283,411 $ 283,326 Retained earnings $ 16,329 $ 16,151 $ 16,240 $ 16,077 Total stockholders’ equity $ 31,315 $ 31,137 $ 31,219 $ 31,056 Total liabilities and stockholders’ equity $ 314,667 $ 314,400 $ 314,630 $ 314,382 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Income: As Originally Reported As Restated As Originally Reported As Restated (Dollars in Thousands, except per share data) Mortgage fees and taxes $ 33 $ 52 $ 24 $ 48 Total other expenses $ 2,634 $ 2,653 $ 2,496 $ 2,520 Income (loss) before income taxes $ 111 $ 92 $ (17 ) $ (41 ) Provision (benefit) for income taxes $ 22 $ 18 $ (28 ) $ (36 ) Net income (loss) $ 89 $ 74 $ 11 $ (5 ) Earnings per share – basic and diluted $ 0.05 $ 0.04 $ 0.01 $ 0.00 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Comprehensive Income (Loss): As Originally Reported As Restated As Originally Reported As Restated (Dollars in Thousands) Net income (loss) $ 89 $ 74 $ 11 $ (5 ) Comprehensive income (loss) $ (3 ) $ (18 ) $ 21 $ 5 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Stockholders’ Equity: As Originally Reported As Restated As Originally Reported As Restated (Dollars in Thousands) Balance, beginning of period $ 31,219 $ 31,056 $ 31,859 $ 31,775 Increase (decrease) attributable to net income (loss) $ 89 $ 74 $ 11 $ (5 ) Balance, end of period $ 31,315 $ 31,137 $ 31,893 $ 31,793 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Cash Flows: As Originally Reported As Restated As Originally Reported As Restated (Dollars in Thousands) Net income (loss) $ 89 $ 74 $ 11 $ (5 ) Increase in other assets $ (203 ) $ (182 ) $ (192 ) $ (168 ) Decrease in other liabilities $ (10 ) $ (16 ) $ (410 ) $ (418 ) In addition, Note 4 has been amended to reflect these restatements.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Basis Of Accounting [Abstract]
Basis of Presentation	Note 2: Basis of Presentation The accompanying unaudited consolidated financial statements of FSB Bancorp, Inc. (“FSB Bancorp”), Fairport Savings Bank (the “Bank”), and its other wholly owned subsidiary, Fairport Wealth Management (collectively, the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions for Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes necessary for a complete presentation of consolidated financial condition, results of operations and cash flows in conformity with generally accepted accounting principles. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation, have been included. The results are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 or for any future period. The 2017 FSB Bancorp, Inc. consolidated financial statements, as presented in the Company’s amendment no. 1 to the annual report on Form 10-K/A, should be read in conjunction with these statements. The Company's consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States and follow practices within the banking industry. Application of these principles requires management to make estimates, assumptions, and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain policies inherently have a greater reliance on the use of estimates, assumptions, and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions, and judgments are necessary when assets and liabilities are required to be recorded at fair value or when an asset or liability needs to be recorded contingent upon a future event. Carrying assets and liabilities at fair value inherently results in more financial statement volatility. The fair values and information used to record valuation adjustments for certain assets and liabilities are based on quoted market prices or are provided by other third-party sources, when available. When third party information is not available, valuation adjustments are estimated in good faith by management.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements	Note 3: New Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and subsequent updates. This ASU clarifies the principles for recognizing revenue and develops a common standard for U.S. GAAP and International Financial Reporting Standards. The ASU establishes a core principle that requires an entity to identify the contract(s) with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the entity satisfies a performance obligation. The ASU provides for improved disclosure requirements that require entities to disclose sufficient financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the guidance effective January 1, 2018 using the modified retrospective method. The Company’s revenue is the sum of net interest income and non-interest income. The scope of the guidance excludes nearly all net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives. The Company completed its review and determined that the majority of non-interest income revenue streams are within the scope of the new standard. Non-interest income streams that are out of scope of the new standard include BOLI, sales of investment securities, mortgage banking activities, and certain items within service charges and other income. Management reviewed contracts related to service charges on deposits, investment advisory commissions and fee income, insurance commission and fee income, and certain items within other service charges and other income. The Company evaluated the impact of this ASU on the Company’s various revenue streams and, upon adoption on January 1, 2018 and going forward, does not anticipate a material impact to the consolidated financial statements. The Company has included applicable disclosures regarding revenue recognition within Note 9 of these consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the 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. In addition, the amendments in this update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods with those fiscal years. The adoption had no impact on the consolidated financial statements and only impacted fair value measurement disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This new guidance supersedes the lease requirements in Topic 840, Leases and is based on the principle that a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The accounting applied by a lessor is largely unchanged from that applied under the previous guidance. In addition, the guidance requires an entity to separate the lease components from the nonlease components in a contract. The ASU requires disclosures about the amount, timing, and judgments related to a reporting entity's accounting for leases and related cash flows. The standard is required to be applied to all leases in existence as of the date of adoption using a modified retrospective transition approach. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted for all companies in any interim or annual period. The Company occupies certain offices and uses certain equipment under non-cancelable operating lease agreements, which currently are not reflected in its consolidated statement of condition. The Company expects to recognize lease liabilities and right of use assets associated with these lease agreements; however, the extent of the impact on the Company's consolidated financial statements is currently under evaluation. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). This new guidance significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. This ASU will replace the "incurred loss" model under existing guidance with an "expected loss" model for instruments measured at amortized cost, and require entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as they do today under the other-than-temporary impairment model. This ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. This guidance requires adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for all companies as of fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the guidance will have on the Company's consolidated financial statements, and expects an increase in the allowance for credit losses resulting from the change to expected losses for the estimated life of the financial asset, including an allowance for debt securities. The amount of the increase in the allowance for credit losses resulting from the new guidance will be impacted by the portfolio composition and asset quality at the adoption date, as well as economic conditions and forecasts at the time of adoption. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230). The amendments provide guidance on the following eight specific cash flow issues: 1) debt prepayment or debt extinguishment costs; 2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; 3) contingent consideration payments made after a business combination; 4) proceeds from the settlement of insurance claims; 5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; 6) distributions received from equity method investees; 7) beneficial interests in securitization transactions; and 8) separately identifiable cash flows and application of the predominance principle. This ASU is effective for fiscal years beginning after December 31, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company adopted the amendment in this update during the three months ended March 31, 2018 and noted no material impact to the consolidated financial statements. In March 2017, the FASB issued an Update (ASU 2017-08) to its guidance on “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) related to premium amortization on purchased callable debt securities. The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity should apply the amendments in this Update on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Additionally, in the period of adoption, an entity should provide disclosure about a change in accounting principle. The adoption of this guidance is not expected to have a material impact on our consolidated results of operations or financial position.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per Common Share	Note 4: Earnings per Common Share Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Net income available to common stockholders is net income to FSB Bancorp, Inc. Diluted earnings per share is calculated in a manner similar to that of basic earnings per share except that the weighted average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period. There is no impact on earnings per share because no stock options have vested as of March 31, 2018. On September 27, 2017, the Board of Directors of the Company approved restricted stock and stock option grants to senior management and the directors of the Company, pursuant to the terms of the 2017 Equity Incentive Plan (the “Plan”). The Plan was approved previously by the Company’s stockholders on August 29, 2017. An aggregate of 15,000 stock options and 6,400 shares of restricted stock were granted to senior management during the period ended March 31, 2018. The grants to senior management vest over a five year period in equal annual installments, with the first installment vesting on the first anniversary date of the grant and succeeding installments on each anniversary thereafter, through 2023. The Company did not grant any restricted stock awards or stock options for the period ended March 31, 2017. Unallocated common shares held by the ESOP are not included in the weighted average number of common shares outstanding for purposes of calculating earnings per common share until they are committed to be released. The following tables set forth the calculation of basic and diluted earnings per share. Three months ended March 31, (In thousands, except per share data) 2018 2017 Basic and Diluted Earnings Per Common Share Net income (loss) available to common stockholders $ 74 $ (5 ) Weighted average common shares outstanding 1,907 1,905 Earnings per common share – basic and diluted $ 0.04 $ 0.00

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Note 5: Investment Securities The amortized cost and estimated fair value of investment securities are summarized as follows: March 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio U.S. Government and agency obligations $ 10,611 $ - $ (207 ) $ 10,404 Mortgage-backed securities – residential 7,507 15 (134 ) 7,388 Total available-for-sale $ 18,118 $ 15 $ (341 ) $ 17,792 Held-to-Maturity Portfolio Mortgage-backed securities – residential $ 472 $ 6 $ - $ 478 State and municipal securities 5,932 19 (73 ) 5,878 Total held-to-maturity $ 6,404 $ 25 $ (73 ) $ 6,356 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio U.S. Government and agency obligations $ 10,612 $ - $ (142 ) $ 10,470 Mortgage-backed securities – residential 7,909 19 (85 ) 7,843 Total available-for-sale $ 18,521 $ 19 $ (227 ) $ 18,313 Held-to-Maturity Portfolio Mortgage-backed securities – residential $ 637 $ 9 $ - $ 646 State and municipal securities 5,938 41 (37 ) 5,942 Total held-to-maturity $ 6,575 $ 50 $ (37 ) $ 6,588 The amortized cost and estimated fair value of debt investments at March 31, 2018 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available-for-Sale Held-to-Maturity Amortized Amortized (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ - $ - $ 838 $ 835 Due after one year through five years 8,606 8,423 3,299 3,274 Due after five years through ten years 1,005 1,004 1,795 1,769 Due after ten years 1,000 977 - - Sub-total $ 10,611 $ 10,404 $ 5,932 $ 5,878 Mortgage-backed securities – residential 7,507 7,388 472 478 Totals $ 18,118 $ 17,792 $ 6,404 $ 6,356 The Company’s investment securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: March 31, 2018 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale U.S. Government and agency obligations 4 $ 66 $ 4,438 5 $ 141 $ 5,966 9 $ 207 $ 10,404 Mortgage-backed securities - residential 5 42 2,894 3 92 3,055 8 134 5,949 Totals 9 $ 108 $ 7,332 8 $ 233 $ 9,021 17 $ 341 $ 16,353 Held-to-Maturity Mortgage-backed securities – residential (1) - $ - $ - 1 $ - $ 169 1 $ - $ 169 State and municipal securities 16 48 3,375 5 25 1,322 21 73 4,697 Totals 16 $ 48 $ 3,375 6 $ 25 $ 1,491 22 $ 73 $ 4,866 December 31, 2017 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale U.S. Government and agency obligations 4 $ 34 $ 4,472 5 $ 108 $ 5,999 9 $ 142 $ 10,471 Mortgage-backed securities - residential 4 23 2,459 4 62 3,435 8 85 5,894 Totals 8 $ 57 $ 6,931 9 $ 170 $ 9,434 17 $ 227 $ 16,365 Held-to-Maturity Mortgage-backed securities – residential (1) - $ - $ - 1 $ - $ 171 1 $ - $ 171 State and municipal securities 10 16 1,574 5 21 1,331 15 37 2,905 Totals 10 $ 16 $ 1,574 6 $ 21 $ 1,502 16 $ 37 $ 3,076 (1) The Company conducts a formal review of investment securities on a quarterly basis for the presence of other-than-temporary impairment (“OTTI”). The Company assesses whether OTTI is present when the fair value of a debt security is less than its amortized cost basis at the statement of condition date. Under these circumstances, OTTI is considered to have occurred (1) if we intend to sell the security; (2) if it is “more likely than not” we will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows is not anticipated to be sufficient to recover the entire amortized cost basis. The guidance requires that credit-related OTTI is recognized in earnings while non-credit-related OTTI on securities not expected to be sold is recognized in other comprehensive income (“OCI”). Non-credit-related OTTI is based on other factors, including illiquidity and changes in the general interest rate environment. Presentation of OTTI is made in the consolidated statement of income on a gross basis, including both the portion recognized in earnings as well as the portion recorded in OCI. The gross OTTI would then be offset by the amount of non-credit-related OTTI, showing the net as the impact on earnings. There were 39 securities in an unrealized loss position at March 31, 2018, of which 14 have been in loss positions for a period greater than twelve months and 25 have been in loss positions for a period less than twelve months. This compares to 33 securities in an unrealized loss position at December 31, 2017, of which 15 had been in loss positions for a period greater than twelve months and 18 had been in loss positions for a period less than twelve months. These issuing entities are currently rated Aaa by Moody’s Investor Services and AA+ by Standard and Poors. Among the 14 securities in loss positions for a period greater than twelve months at March 31, 2018, nine were either direct issuances of, or mortgage-backed securities or collateralized mortgage obligations issued by, the following entities sponsored and guaranteed by the United States Government: GNMA, FNMA, and FHLMC. The remaining five securities that have been in a loss position for a period greater than twelve months were issued by a state or political subdivision, primarily local municipalities. The unrealized losses reflected are primarily attributable to changes in interest rates since the securities were acquired. Among the 25 securities in an unrealized loss position at March 31, 2018 for less than twelve months, nine were either direct issuances of, or mortgage-backed securities or collateralized mortgage obligations issued by, the following entities sponsored and guaranteed by the United States Government: FNMA, FHLMC, FHLB and FFCB. The remaining 16 securities were issued by a state or political subdivision, primarily local municipalities. The unrealized losses reflected are primarily attributable to changes in interest rates since the securities were acquired. The Company does not intend to sell these securities, nor is it more likely than not, that the Company will be required to sell these securities prior to recovery of the amortized cost. The state and municipal securities are general obligation (G.O.) bonds backed by the full faith and credit of local municipalities. There has never been a default of a New York G.O. in the history of the state. Historical performance does not guarantee future performance, but it does indicate that the risk of loss on default of a G.O. municipal bond for the Company is relatively low. All are paying in accordance with their terms with no deferrals of interest or defaults. As such, management does not believe any individual unrealized loss as of March 31, 2018 represents OTTI. There were no realized gains or losses on sales of securities for the three months ended March 31, 2018 and March 31, 2017. As of March 31, 2018 and December 31, 2017, no securities were pledged to secure public deposits or for any other purpose required or permitted by law. Management has reviewed its loan and mortgage-backed securities portfolios and determined that, to the best of its knowledge, little or no exposure exists to sub-prime or other high-risk residential mortgages. The Company is not in the practice of investing in, or originating, these types of investments or loans.

Loans

Loans	3 Months Ended
	Mar. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
Loans	Note 6: Loans Major classifications of loans at the indicated dates are as follows: March 31, December 31, (In thousands) 2018 2017 Real estate loans: Secured by one-to-four family residences $ 211,265 $ 206,894 Secured by multi-family residences 10,499 10,650 Construction 8,401 10,750 Commercial real estate 16,713 14,803 Home equity lines of credit 16,822 17,127 Total real estate loans 263,700 260,224 Commercial and industrial loans 4,142 3,679 Other loans 57 70 Total loans 267,899 263,973 Net deferred loan origination fees (22 ) (1 ) Less allowance for loan losses (1,336 ) (1,261 ) Loans receivable, net $ 266,541 $ 262,711 The Company originates residential mortgage, commercial, and consumer loans largely to customers throughout Monroe county and the surrounding western New York counties of Erie, Livingston, Ontario, Orleans, Jefferson, Niagara, and Wayne. Although the Company has a diversified loan portfolio, a substantial portion of its borrowers’ abilities to honor their loan contracts is dependent upon the counties’ employment and economic conditions. As of March 31, 2018 and December 31, 2017, residential mortgage loans with a carrying value of $194.8 million and $190.4 million, respectively, have been pledged by the Company to the Federal Home Loan Bank of New York (“FHLBNY”) under a blanket collateral agreement to secure the Company’s line of credit and term borrowings. The Company retains the servicing on conventional fixed-rate mortgage loans sold to Freddie Mac (“FHLMC”) and receives a fee based on the principal balance outstanding. Loans serviced for others totaled $132.1 million and $132.4 million at March 31, 2018 and December 31, 2017, respectively. Loan servicing rights are recorded at fair value when loans are sold with servicing rights retained. The fair value of the mortgage servicing rights (“MSRs”) is determined using a method which utilizes servicing income, discount rates, and prepayment speeds relative to the Bank’s portfolio for MSRs and are amortized over the life of the loan. MSRs amounted to $894,000 and $892,000 at March 31, 2018 and December 31, 2017, respectively, and are included in other assets on the consolidated balance sheets. Loan Origination / Risk Management The Company’s lending policies and procedures are presented in Note 4 to the consolidated financial statements included in FSB Bancorp’s Amendment No. 1 to the Annual Report on Form 10-K/A filed with the SEC on August 13, 2018 and have not changed. To develop and document a systematic methodology for determining the allowance for loan losses, the Company has divided the loan portfolio into two portfolio segments, each with different risk characteristics but with similar methodologies for assessing risk. Each portfolio segment is broken down into loan classes where appropriate. Loan classes contain unique measurement attributes, risk characteristics, and methods for monitoring and assessing risk that are necessary to develop the allowance for loan losses. Unique characteristics such as borrower type, loan type, collateral type, and risk characteristics define each class. The following table illustrates the portfolio segments and classes for the Company’s loan portfolio: Portfolio Segment Class Real Estate Loans Secured by one-to-four family residences Secured by multi-family residences Construction Commercial real estate Home equity lines of credit Other Loans Commercial and industrial Other loans The following tables present the classes of the loan portfolio, not including net deferred loan fees, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated: As of March 31, 2018 Special (In thousands) Pass Mention Substandard Doubtful Total Real estate loans: Secured by one-to-four family residences $ 209,049 $ 115 $ 2,101 $ - $ 211,265 Secured by multi-family residences 10,499 - - - 10,499 Construction 8,401 - - - 8,401 Commercial real estate 15,758 955 - - 16,713 Home equity lines of credit 16,607 - 215 - 16,822 Total real estate loans 260,314 1,070 2,316 - 263,700 Commercial & industrial loans 4,142 - - - 4,142 Other loans 57 - - - 57 Total loans $ 264,513 $ 1,070 $ 2,316 $ - $ 267,899 As of December 31, 2017 Special (In thousands) Pass Mention Substandard Doubtful Total Real estate loans: Secured by one-to-four family residences $ 203,815 $ 116 $ 2,963 $ - $ 206,894 Secured by multi-family residences 10,650 - - - 10,650 Construction 10,750 - - - 10,750 Commercial real estate 14,803 - - - 14,803 Home equity lines of credit 16,897 - 230 - 17,127 Total real estate loans 256,915 116 3,193 - 260,224 Commercial & industrial loans 3,679 - - - 3,679 Other loans 70 - - - 70 Total loans $ 260,664 $ 116 $ 3,193 $ - $ 263,973 Real estate loans secured by one-to four family residences rated substandard decreased $862,000, or 29.1%, to $2.1 million at March 31, 2018 from $3.0 million at December 31, 2017 due to the upgrades of five residential mortgage loans now paying as agreed, partially offset by the addition of two residential mortgage loans newly categorized as such during the three months ended March 31, 2018. Commercial real estate loans rated special mention increased $955,000 to $955,000 from the $0 balance at December 31, 2017 due to the addition of two loans newly categorized as such after annual financial statement reviews of these borrowers were performed during the three months ended March 31, 2018. Management has reviewed its loan portfolio and determined that, to the best of its knowledge, no exposure exists to sub-prime or other high-risk residential mortgages. The Company is not in the practice of originating these types of loans. Nonaccrual and Past Due Loans Loans are placed on nonaccrual when the contractual payment of principal and interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. Loans are considered past due if the required principal and interest payments have not been received within thirty days of the payment due date. An age analysis of past due loans, segregated by portfolio segment and class of loans, as of March 31, 2018 and December 31, 2017, are detailed in the following tables: As of March 31, 2018 30-59 Days 60-89 Days Past Due Past Due 90 Days Total Total Loans (In thousands) And Accruing And Accruing and Over Past Due Current Receivable Real estate loans: Secured by one-to-four family residences $ 64 $ - $ 91 $ 155 $ 211,110 $ 211,265 Secured by multi-family residences - - - - 10,499 10,499 Construction - - - - 8,401 8,401 Commercial - - - - 16,713 16,713 Home equity lines of credit 157 - - 157 16,665 16,822 Total real estate loans 221 - 91 312 263,388 263,700 Commercial & industrial loans - - - - 4,142 4,142 Other loans - - - - 57 57 Total loans $ 221 $ - $ 91 $ 312 $ 267,587 $ 267,899 As of December 31, 2017 30-59 Days 60-89 Days Past Due Past Due 90 Days Total Total Loans (In thousands) And Accruing And Accruing and Over Past Due Current Receivable Real estate loans: Secured by one-to-four family residences $ 699 $ - $ 153 $ 852 $ 206,042 $ 206,894 Secured by multi-family residences - - - - 10,650 10,650 Construction - - - - 10,750 10,750 Commercial - - - - 14,803 14,803 Home equity lines of credit - - - - 17,127 17,127 Total real estate loans 699 - 153 852 259,372 260,224 Commercial & industrial loans - - - - 3,679 3,679 Other loans - - - - 70 70 Total loans $ 699 $ - $ 153 $ 852 $ 263,121 $ 263,973 Real estate loans secured by one-to four family residences 30-59 days past due and accruing decreased $635,000, or 90.8%, to $64,000 at March 31, 2018 from $699,000 at December 31, 2017 due to the removal of three loans categorized as such during the three months ended March 31, 2018. At March 31, 2018, the Company had two nonaccrual residential mortgage loans for $91,000. At December 31, 2017, the Company had two nonaccrual residential mortgage loans for $153,000. There were no loans that were past due 90 days or more and still accruing interest at March 31, 2018 and December 31, 2017. At March 31, 2018 and December 31, 2017, there were no loans considered to be impaired and no troubled debt restructurings.

Allowance for Loan Losses and F

Allowance for Loan Losses and Foreclosed Real Estate	3 Months Ended
	Mar. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
Allowance for Loan Losses and Foreclosed Real Estate	Note 7: Allowance for Loan Losses and Foreclosed Real Estate Summarized in the tables below are changes in the allowance for loan losses for the indicated periods and information pertaining to the allocation of the allowance for loan losses, balances of the allowance for loan losses, loans receivable based on individual, and collective impairment evaluation by loan portfolio class. An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class. For the three months ended March 31, 2018 Secured by Secured by one-to-four multi-family Home equity family residences residences Construction Commercial lines of credit Commercial Other/ (In thousands) real estate loans real estate loans real estate loans real estate loans real estate loans & industrial Unallocated Total Allowance for loan losses: Beginning Balance $ 816 $ 80 $ 54 $ 148 $ 107 $ 47 $ 9 $ 1,261 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (74 ) (1 ) (12 ) 57 (2 ) 6 101 75 Ending balance $ 742 $ 79 $ 42 $ 205 $ 105 $ 53 $ 110 $ 1,336 For the three months ended March 31, 2017 Secured by Secured by one-to-four multi-family Home equity family residences residences Construction Commercial lines of credit Commercial Other/ (In thousands) real estate loans real estate loans real estate loans real estate loans real estate loans & industrial Unallocated Total Allowance for loan losses: Beginning Balance $ 584 $ 38 $ 31 $ 84 $ 112 $ 28 $ 113 $ 990 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions 77 7 - 23 2 - (57 ) 52 Ending balance $ 661 $ 45 $ 31 $ 107 $ 114 $ 28 $ 56 $ 1,042 The other/unallocated component of the allowance for loan losses increased from December 31, 2017 due to improvements in loan classifications from December 31, 2017 to March 31, 2018. The Company had no foreclosed real estate at March 31, 2018 or December 31, 2017. At March 31, 2018 and December 31, 2017, the Company had one residential real estate loan for $37,000 in the process of foreclosure.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8: Fair Value Measurements Accounting guidance related to fair value measurements and disclosures specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value drivers are unobservable. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs, minimize the use of unobservable inputs, to the extent possible, and considers counterparty credit risk in its assessment of fair value. The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value: March 31, 2018 (In thousands) Level 1 Level 2 Level 3 Total Fair Value Available-for-sale portfolio U.S. Government and agency obligations $ - $ 10,404 $ - $ 10,404 Mortgage-backed securities – residential - 7,388 - 7,388 Total available-for-sale securities $ - $ 17,792 $ - $ 17,792 December 31, 2017 (In thousands) Level 1 Level 2 Level 3 Total Fair Value Available-for-sale portfolio U.S. Government and agency obligations $ - $ 10,470 $ - $ 10,470 Mortgage-backed securities – residential - 7,843 - 7,843 Total available-for-sale securities $ - $ 18,313 $ - $ 18,313 There have been no transfers of assets into or out of any fair value measurement level during the quarter ended March 31, 2018. Required disclosures include fair value information of financial instruments, whether or not recognized in the consolidated statement of condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. The Company has various processes and controls in place to ensure that fair value is reasonably estimated. The Company performs due diligence procedures over third-party pricing service providers in order to support their use in the valuation process. While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sale transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends, and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. FASB ASC Topic 820 for Fair Value Measurements and Disclosures, the financial assets and liabilities were valued at a price that represents the Company’s exit price or the price at which these instruments would be sold or transferred. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The Company, in estimating its fair value disclosures for financial instruments, used the following methods and assumptions: Cash, Due from Banks, and Interest Earning Demand Deposits The carrying amounts of these assets approximate their fair values. Investment Securities The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather relying on the securities’ relationship to other benchmark quoted prices and is considered to be a Level 2 measurement. Investment in Restricted Stock The carrying value of restricted stock, which consists of Federal Home Loan Bank and Atlantic Community Bankers Bank, approximates its fair value based on the redemption provisions of the restricted stock, resulting in a Level 2 classification. Loans The fair values of loans held in portfolio are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans, resulting in a Level 3 classification. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Mortgage loans held for sale in the secondary market are carried at the lower of cost or fair value, resulting in a Level 2 classification. Separate determinations of fair value for residential and commercial loans are made on an aggregate basis. Fair value is determined based solely on the effect of changes in secondary market interest rates and yield requirements from the commitment date to the date of the financial statements. Accrued Interest Receivable and Payable The carrying amount of accrued interest receivable and payable approximates fair value. Deposits The fair values disclosed for demand deposits (e.g., NOW accounts, non-interest checking, regular savings and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts), resulting in a Level 1 classification. The carrying amounts for variable-rate certificates of deposit approximate their fair values at the reporting date, resulting in a Level 1 classification. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits, resulting in a Level 2 classification. Borrowings The fair values of FHLB long-term borrowings are estimated using discounted cash flow analyses, based on the quoted rates for new FHLB advances with similar credit risk characteristics, terms and remaining maturity, resulting in a Level 2 classification. The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table: March 31, 2018 December 31, 2017 Fair Value Carrying Estimated Carrying Estimated (In thousands) Hierarchy Amounts Fair Values Amounts Fair Values Financial assets: Cash and due from banks 1 $ 1,484 $ 1,484 $ 1,672 $ 1,672 Interest earning demand deposits 1 6,220 6,220 8,725 8,725 Securities - available-for-sale 2 17,792 17,792 18,313 18,313 Securities - held-to-maturity 2 6,404 6,356 6,575 6,588 Investment in restricted stock 2 3,274 3,274 3,270 3,270 Loans held for sale 2 2,244 2,244 2,770 2,770 Loans, net 3 266,541 261,662 262,711 261,588 Accrued interest receivable 1 809 809 824 824 Financial liabilities: Demand Deposits, Savings, NOW and MMDA 1 102,539 102,539 103,377 103,377 Time Deposits 2 114,218 114,604 113,314 113,501 Borrowings 2 64,535 64,777 64,447 64,502 Accrued interest payable 1 133 133 94 94

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2018
Comprehensive Income Loss Note [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 9: Accumulated Other Comprehensive Income (Loss) Changes in the components of accumulated other comprehensive income (loss) (“AOCI”), net of tax, for the periods indicated are summarized in the table below. For the three months ended March 31, 2018 (In thousands) Unrealized Gains and Losses on Total Beginning balance $ (165 ) $ (165 ) Other comprehensive loss (92 ) (92 ) Ending balance $ (257 ) $ (257 ) For the three months ended March 31, 2017 (In thousands) Unrealized Gains and Losses on Total Beginning balance $ (85 ) $ (85 ) Other comprehensive income 10 10 Ending balance $ (75 ) $ (75 )

Non-Interest Income

Non-Interest Income	3 Months Ended
	Mar. 31, 2018
Noninterest Income, Other [Abstract]
Non-Interest Income	Note 10: Non-Interest Income During the three months ended March 31, 2018, the Company adopted the amendments of ASU 2014-09 – Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified Topic 606. The Company has included the following table regarding the Company’s non-interest income for the periods presented. For the three For the three months ended months ended March 31, 2018 March 31, 2017 (In thousands) Service fees Deposit related fees 10 19 Insufficient funds fee 22 21 Total service fees 32 40 Fee income Securities commission income 17 12 Insurance commission income 22 23 Total insurance and securities commission income 39 35 Card income Debit card interchange fee income 35 31 ATM fees 7 7 Total card income 42 38 Mortgage fee income and realized gain on sales of loans Residential mortgage loan origination fees 81 83 Commercial loan fees 8 13 Loan servicing income 85 76 Realized gain on sales of residential mortgage loans 301 326 Realized gain on sale of SBA loan 47 - Total mortgage fee income and realized gain on sales of loans 522 498 Bank owned life insurance 15 15 Other miscellaneous income 18 10 Total non-interest income $ 668 $ 636 The Company recognizes revenue as it is earned and noted no impact to its revenue recognition policies as a result of the adoption of ASU 2014-09. The following is a discussion of key revenues within the scope of the new revenue guidance: · Service fees – · Fee income – · Card income – · Mortgage fee income and realized gain on sales of loans –

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Note 11: Stock-Based Compensation On January 5, 2018, a total of 6,400 restricted stock awards were granted to four executive officers of the Company. The awards will vest ratably over five years (20% per year for each year of the participant’s service with the Company). The Bank also has a stock-based compensation plan which allows the Company to issue up to 194,168 stock options. On January 5, 2018, the Board of Directors granted a combined total of 15,000 options to three executive officers to buy stock under the plan at an exercise price of $17.52, the fair value of the stock as of January 5, 2018. These options have a 10-year term and are vested over a five year period. A summary of the Company’s stock option activity and related information for its option plans for the three months ended March 31, 2018 and 2017 is as follows: 2018 2017 Options Weighted Average Options Weighted Average Outstanding at beginning of year 152,080 $ 16.72 - $ - Grants 15,000 17.52 - - Exercised - - - - Outstanding at quarter end 167,080 $ 16.79 - $ - Exercisable at quarter end - $ - - $ - The grants to senior management and directors vest over a five year period in equal annual installments, with the first installment vesting on the first anniversary date of the grant and succeeding installments on each anniversary thereafter, through 2023. The compensation expense of the awards is based on the fair value of the instruments on the date of grant. The Company recorded compensation expense in the amount of $76,000 for the three months ended March 31, 2018 and did not record any compensation expense for the three months ended March 31, 2017.

Accounting Policy (Policies)

Accounting Policy (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of FSB Bancorp, Inc. (“FSB Bancorp”), Fairport Savings Bank (the “Bank”), and its other wholly owned subsidiary, Fairport Wealth Management (collectively, the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions for Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes necessary for a complete presentation of consolidated financial condition, results of operations and cash flows in conformity with generally accepted accounting principles. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation, have been included. The results are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 or for any future period. The 2017 FSB Bancorp, Inc. consolidated financial statements, as presented in the Company’s amendment no. 1 to the annual report on Form 10-K/A, should be read in conjunction with these statements.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and subsequent updates. This ASU clarifies the principles for recognizing revenue and develops a common standard for U.S. GAAP and International Financial Reporting Standards. The ASU establishes a core principle that requires an entity to identify the contract(s) with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the entity satisfies a performance obligation. The ASU provides for improved disclosure requirements that require entities to disclose sufficient financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the guidance effective January 1, 2018 using the modified retrospective method. The Company’s revenue is the sum of net interest income and non-interest income. The scope of the guidance excludes nearly all net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives. The Company completed its review and determined that the majority of non-interest income revenue streams are within the scope of the new standard. Non-interest income streams that are out of scope of the new standard include BOLI, sales of investment securities, mortgage banking activities, and certain items within service charges and other income. Management reviewed contracts related to service charges on deposits, investment advisory commissions and fee income, insurance commission and fee income, and certain items within other service charges and other income. The Company evaluated the impact of this ASU on the Company’s various revenue streams and, upon adoption on January 1, 2018 and going forward, does not anticipate a material impact to the consolidated financial statements. The Company has included applicable disclosures regarding revenue recognition within Note 9 of these consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities. The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the 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. In addition, the amendments in this update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods with those fiscal years. The adoption had no impact on the consolidated financial statements and only impacted fair value measurement disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This new guidance supersedes the lease requirements in Topic 840, Leases and is based on the principle that a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The accounting applied by a lessor is largely unchanged from that applied under the previous guidance. In addition, the guidance requires an entity to separate the lease components from the nonlease components in a contract. The ASU requires disclosures about the amount, timing, and judgments related to a reporting entity's accounting for leases and related cash flows. The standard is required to be applied to all leases in existence as of the date of adoption using a modified retrospective transition approach. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted for all companies in any interim or annual period. The Company occupies certain offices and uses certain equipment under non-cancelable operating lease agreements, which currently are not reflected in its consolidated statement of condition. The Company expects to recognize lease liabilities and right of use assets associated with these lease agreements; however, the extent of the impact on the Company's consolidated financial statements is currently under evaluation. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). This new guidance significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. This ASU will replace the "incurred loss" model under existing guidance with an "expected loss" model for instruments measured at amortized cost, and require entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as they do today under the other-than-temporary impairment model. This ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. This guidance requires adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for all companies as of fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the guidance will have on the Company's consolidated financial statements, and expects an increase in the allowance for credit losses resulting from the change to expected losses for the estimated life of the financial asset, including an allowance for debt securities. The amount of the increase in the allowance for credit losses resulting from the new guidance will be impacted by the portfolio composition and asset quality at the adoption date, as well as economic conditions and forecasts at the time of adoption. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230). The amendments provide guidance on the following eight specific cash flow issues: 1) debt prepayment or debt extinguishment costs; 2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; 3) contingent consideration payments made after a business combination; 4) proceeds from the settlement of insurance claims; 5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; 6) distributions received from equity method investees; 7) beneficial interests in securitization transactions; and 8) separately identifiable cash flows and application of the predominance principle. This ASU is effective for fiscal years beginning after December 31, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company adopted the amendment in this update during the three months ended March 31, 2018 and noted no material impact to the consolidated financial statements. In March 2017, the FASB issued an Update (ASU 2017-08) to its guidance on “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) related to premium amortization on purchased callable debt securities. The amendments in this Update shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity should apply the amendments in this Update on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Additionally, in the period of adoption, an entity should provide disclosure about a change in accounting principle. The adoption of this guidance is not expected to have a material impact on our consolidated results of operations or financial position.

Restatement (Tables)

Restatement (Tables)	3 Months Ended
	Mar. 31, 2018
Restatement of Prior Year Income [Abstract]
Schedule of consolidated financial statements	At March 31, 2018 At December 31, 2017 Restated Consolidated Balance Sheet: As Originally As As Originally As (Dollars in Thousands) Other assets $ 3,151 $ 2,884 $ 2,948 $ 2,700 Total assets $ 314,667 $ 314,400 $ 314,630 $ 314,382 Other liabilities $ 1,306 $ 1,217 $ 1,344 $ 1,259 Total liabilities $ 283,352 $ 283,263 $ 283,411 $ 283,326 Retained earnings $ 16,329 $ 16,151 $ 16,240 $ 16,077 Total stockholders’ equity $ 31,315 $ 31,137 $ 31,219 $ 31,056 Total liabilities and stockholders’ equity $ 314,667 $ 314,400 $ 314,630 $ 314,382 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Income: As Originally As As Originally As (Dollars in Thousands, except per share data) Mortgage fees and taxes $ 33 $ 52 $ 24 $ 48 Total other expenses $ 2,634 $ 2,653 $ 2,496 $ 2,520 Income (loss) before income taxes $ 111 $ 92 $ (17 ) $ (41 ) Provision (benefit) for income taxes $ 22 $ 18 $ (28 ) $ (36 ) Net income (loss) $ 89 $ 74 $ 11 $ (5 ) Earnings per share – basic and diluted $ 0.05 $ 0.04 $ 0.01 $ 0.00 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Comprehensive Income (Loss): As Originally As As Originally As (Dollars in Thousands) Net income (loss) $ 89 $ 74 $ 11 $ (5 ) Comprehensive income (loss) $ (3 ) $ (18 ) $ 21 $ 5 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Stockholders’ Equity: As Originally As As Originally As (Dollars in Thousands) Balance, beginning of period $ 31,219 $ 31,056 $ 31,859 $ 31,775 Increase (decrease) attributable to net income (loss) $ 89 $ 74 $ 11 $ (5 ) Balance, end of period $ 31,315 $ 31,137 $ 31,893 $ 31,793 For the Quarter Ended March 31, 2018 March 31, 2017 Restated Consolidated Statements of Cash Flows: As Originally As As Originally As (Dollars in Thousands) Net income (loss) $ 89 $ 74 $ 11 $ (5 ) Increase in other assets $ (203 ) $ (182 ) $ (192 ) $ (168 ) Decrease in other liabilities $ (10 ) $ (16 ) $ (410 ) $ (418 )

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of basic earnings per share	Three months ended March 31, (In thousands, except per share data) 2018 2017 Basic and Diluted Earnings Per Common Share Net income (loss) available to common stockholders $ 74 $ (5 ) Weighted average common shares outstanding 1,907 1,905 Earnings per common share – basic and diluted $ 0.04 $ 0.00

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost and estimated fair value of securities	March 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio U.S. Government and agency obligations $ 10,611 $ - $ (207 ) $ 10,404 Mortgage-backed securities – residential 7,507 15 (134 ) 7,388 Total available-for-sale $ 18,118 $ 15 $ (341 ) $ 17,792 Held-to-Maturity Portfolio Mortgage-backed securities – residential $ 472 $ 6 $ - $ 478 State and municipal securities 5,932 19 (73 ) 5,878 Total held-to-maturity $ 6,404 $ 25 $ (73 ) $ 6,356 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio U.S. Government and agency obligations $ 10,612 $ - $ (142 ) $ 10,470 Mortgage-backed securities – residential 7,909 19 (85 ) 7,843 Total available-for-sale $ 18,521 $ 19 $ (227 ) $ 18,313 Held-to-Maturity Portfolio Mortgage-backed securities – residential $ 637 $ 9 $ - $ 646 State and municipal securities 5,938 41 (37 ) 5,942 Total held-to-maturity $ 6,575 $ 50 $ (37 ) $ 6,588
Schedule of amortized cost and estimated fair value by contractual maturity of debt securities	Available-for-Sale Held-to-Maturity Amortized Amortized (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ - $ - $ 838 $ 835 Due after one year through five years 8,606 8,423 3,299 3,274 Due after five years through ten years 1,005 1,004 1,795 1,769 Due after ten years 1,000 977 - - Sub-total $ 10,611 $ 10,404 $ 5,932 $ 5,878 Mortgage-backed securities – residential 7,507 7,388 472 478 Totals $ 18,118 $ 17,792 $ 6,404 $ 6,356
Schedule of continuous unrealized loss position for investment securities	March 31, 2018 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale U.S. Government and agency obligations 4 $ 66 $ 4,438 5 $ 141 $ 5,966 9 $ 207 $ 10,404 Mortgage-backed securities - residential 5 42 2,894 3 92 3,055 8 134 5,949 Totals 9 $ 108 $ 7,332 8 $ 233 $ 9,021 17 $ 341 $ 16,353 Held-to-Maturity Mortgage-backed securities – residential (1) - $ - $ - 1 $ - $ 169 1 $ - $ 169 State and municipal securities 16 48 3,375 5 25 1,322 21 73 4,697 Totals 16 $ 48 $ 3,375 6 $ 25 $ 1,491 22 $ 73 $ 4,866 December 31, 2017 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (Dollars in thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale U.S. Government and agency obligations 4 $ 34 $ 4,472 5 $ 108 $ 5,999 9 $ 142 $ 10,471 Mortgage-backed securities - residential 4 23 2,459 4 62 3,435 8 85 5,894 Totals 8 $ 57 $ 6,931 9 $ 170 $ 9,434 17 $ 227 $ 16,365 Held-to-Maturity Mortgage-backed securities – residential (1) - $ - $ - 1 $ - $ 171 1 $ - $ 171 State and municipal securities 10 16 1,574 5 21 1,331 15 37 2,905 Totals 10 $ 16 $ 1,574 6 $ 21 $ 1,502 16 $ 37 $ 3,076 (1)

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
Schedule of net loans	March 31, December 31, (In thousands) 2018 2017 Real estate loans: Secured by one-to-four family residences $ 211,265 $ 206,894 Secured by multi-family residences 10,499 10,650 Construction 8,401 10,750 Commercial real estate 16,713 14,803 Home equity lines of credit 16,822 17,127 Total real estate loans 263,700 260,224 Commercial and industrial loans 4,142 3,679 Other loans 57 70 Total loans 267,899 263,973 Net deferred loan origination fees (22 ) (1 ) Less allowance for loan losses (1,336 ) (1,261 ) Loans receivable, net $ 266,541 $ 262,711
Schedule of risk category of loans by class	As of March 31, 2018 Special (In thousands) Pass Mention Substandard Doubtful Total Real estate loans: Secured by one-to-four family residences $ 209,049 $ 115 $ 2,101 $ - $ 211,265 Secured by multi-family residences 10,499 - - - 10,499 Construction 8,401 - - - 8,401 Commercial real estate 15,758 955 - - 16,713 Home equity lines of credit 16,607 - 215 - 16,822 Total real estate loans 260,314 1,070 2,316 - 263,700 Commercial & industrial loans 4,142 - - - 4,142 Other loans 57 - - - 57 Total loans $ 264,513 $ 1,070 $ 2,316 $ - $ 267,899 As of December 31, 2017 Special (In thousands) Pass Mention Substandard Doubtful Total Real estate loans: Secured by one-to-four family residences $ 203,815 $ 116 $ 2,963 $ - $ 206,894 Secured by multi-family residences 10,650 - - - 10,650 Construction 10,750 - - - 10,750 Commercial real estate 14,803 - - - 14,803 Home equity lines of credit 16,897 - 230 - 17,127 Total real estate loans 256,915 116 3,193 - 260,224 Commercial & industrial loans 3,679 - - - 3,679 Other loans 70 - - - 70 Total loans $ 260,664 $ 116 $ 3,193 $ - $ 263,973
Schedule of age of the loan delinquencies by type and by amount past due	As of March 31, 2018 30-59 Days 60-89 Days Past Due Past Due 90 Days Total Total Loans (In thousands) And Accruing And Accruing and Over Past Due Current Receivable Real estate loans: Secured by one-to-four family residences $ 64 $ - $ 91 $ 155 $ 211,110 $ 211,265 Secured by multi-family residences - - - - 10,499 10,499 Construction - - - - 8,401 8,401 Commercial - - - - 16,713 16,713 Home equity lines of credit 157 - - 157 16,665 16,822 Total real estate loans 221 - 91 312 263,388 263,700 Commercial & industrial loans - - - - 4,142 4,142 Other loans - - - - 57 57 Total loans $ 221 $ - $ 91 $ 312 $ 267,587 $ 267,899 As of December 31, 2017 30-59 Days 60-89 Days Past Due Past Due 90 Days Total Total Loans (In thousands) And Accruing And Accruing and Over Past Due Current Receivable Real estate loans: Secured by one-to-four family residences $ 699 $ - $ 153 $ 852 $ 206,042 $ 206,894 Secured by multi-family residences - - - - 10,650 10,650 Construction - - - - 10,750 10,750 Commercial - - - - 14,803 14,803 Home equity lines of credit - - - - 17,127 17,127 Total real estate loans 699 - 153 852 259,372 260,224 Commercial & industrial loans - - - - 3,679 3,679 Other loans - - - - 70 70 Total loans $ 699 $ - $ 153 $ 852 $ 263,121 $ 263,973

Allowance for Loan Losses and24

Allowance for Loan Losses and Foreclosed Real Estate (Tables)	3 Months Ended
	Mar. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
Schedule of changes in the allowance for loan losses	For the three months ended March 31, 2018 Secured by Secured by one-to-four multi-family Home equity family residences residences Construction Commercial lines of credit Commercial Other/ (In thousands) real estate loans real estate loans real estate loans real estate loans real estate loans & industrial Unallocated Total Allowance for loan losses: Beginning Balance $ 816 $ 80 $ 54 $ 148 $ 107 $ 47 $ 9 $ 1,261 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (74 ) (1 ) (12 ) 57 (2 ) 6 101 75 Ending balance $ 742 $ 79 $ 42 $ 205 $ 105 $ 53 $ 110 $ 1,336 For the three months ended March 31, 2017 Secured by Secured by one-to-four multi-family Home equity family residences residences Construction Commercial lines of credit Commercial Other/ (In thousands) real estate loans real estate loans real estate loans real estate loans real estate loans & industrial Unallocated Total Allowance for loan losses: Beginning Balance $ 584 $ 38 $ 31 $ 84 $ 112 $ 28 $ 113 $ 990 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions 77 7 - 23 2 - (57 ) 52 Ending balance $ 661 $ 45 $ 31 $ 107 $ 114 $ 28 $ 56 $ 1,042

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	March 31, 2018 (In thousands) Level 1 Level 2 Level 3 Total Fair Value Available-for-sale portfolio U.S. Government and agency obligations $ - $ 10,404 $ - $ 10,404 Mortgage-backed securities – residential - 7,388 - 7,388 Total available-for-sale securities $ - $ 17,792 $ - $ 17,792 December 31, 2017 (In thousands) Level 1 Level 2 Level 3 Total Fair Value Available-for-sale portfolio U.S. Government and agency obligations $ - $ 10,470 $ - $ 10,470 Mortgage-backed securities – residential - 7,843 - 7,843 Total available-for-sale securities $ - $ 18,313 $ - $ 18,313
Schedule of carrying amounts and estimated fair values of the financial instruments	March 31, 2018 December 31, 2017 Fair Value Carrying Estimated Carrying Estimated (In thousands) Hierarchy Amounts Fair Values Amounts Fair Values Financial assets: Cash and due from banks 1 $ 1,484 $ 1,484 $ 1,672 $ 1,672 Interest earning demand deposits 1 6,220 6,220 8,725 8,725 Securities - available-for-sale 2 17,792 17,792 18,313 18,313 Securities - held-to-maturity 2 6,404 6,356 6,575 6,588 Investment in restricted stock 2 3,274 3,274 3,270 3,270 Loans held for sale 2 2,244 2,244 2,770 2,770 Loans, net 3 266,541 261,662 262,711 261,588 Accrued interest receivable 1 809 809 824 824 Financial liabilities: Demand Deposits, Savings, NOW and MMDA 1 102,539 102,539 103,377 103,377 Time Deposits 2 114,218 114,604 113,314 113,501 Borrowings 2 64,535 64,777 64,447 64,502 Accrued interest payable 1 133 133 94 94

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2018
Comprehensive Income Loss Note [Abstract]
Schedule of accumulated other comprehensive income (loss)	For the three months ended March 31, 2018 (In thousands) Unrealized Gains and Losses on Total Beginning balance $ (165 ) $ (165 ) Other comprehensive loss (92 ) (92 ) Ending balance $ (257 ) $ (257 ) For the three months ended March 31, 2017 (In thousands) Unrealized Gains and Losses on Total Beginning balance $ (85 ) $ (85 ) Other comprehensive income 10 10 Ending balance $ (75 ) $ (75 )

Non-Interest Income (Tables)

Non-Interest Income (Tables)	3 Months Ended
	Mar. 31, 2018
Noninterest Income, Other [Abstract]
Schedule of non-interest income	For the three For the three months ended months ended March 31, 2018 March 31, 2017 (In thousands) Service fees Deposit related fees 10 19 Insufficient funds fee 22 21 Total service fees 32 40 Fee income Securities commission income 17 12 Insurance commission income 22 23 Total insurance and securities commission income 39 35 Card income Debit card interchange fee income 35 31 ATM fees 7 7 Total card income 42 38 Mortgage fee income and realized gain on sales of loans Residential mortgage loan origination fees 81 83 Commercial loan fees 8 13 Loan servicing income 85 76 Realized gain on sales of residential mortgage loans 301 326 Realized gain on sale of SBA loan 47 - Total mortgage fee income and realized gain on sales of loans 522 498 Bank owned life insurance 15 15 Other miscellaneous income 18 10 Total non-interest income $ 668 $ 636

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option activity	2018 2017 Options Weighted Average Options Weighted Average Outstanding at beginning of year 152,080 $ 16.72 - $ - Grants 15,000 17.52 - - Exercised - - - - Outstanding at quarter end 167,080 $ 16.79 - $ - Exercisable at quarter end - $ - - $ -

Restatement (Details)

Restatement (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets	[1]	$ 2,884	$ 2,700
Total assets	[1]	314,400	314,382
Other liabilities	[1]	1,217	1,259
Total liabilities	[1]	283,263	283,326
Retained earnings	[1]	16,151	16,077
Total stockholders' equity	[1]	31,137	31,056	$ 31,793	$ 31,775
Total liabilities and stockholders' equity	[1]	314,400	314,382
As Originally Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets		3,151	2,948
Total assets		314,667	314,630
Other liabilities		1,306	1,344
Total liabilities		283,352	283,411
Retained earnings		16,329	16,240
Total stockholders' equity		31,315	31,219	$ 31,893	$ 31,859
Total liabilities and stockholders' equity		$ 314,667	$ 314,630
[1]	Restated

Restatement (Details 1)

Restatement (Details 1) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Mortgage fees and taxes	[1]	$ 52	$ 48
Total other expenses	[1]	2,653	2,520
Income (loss) before income taxes	[1]	92	(41)
Provision (benefit) for income taxes	[1]	18	(36)
Net income (loss)	[1]	$ 74	$ (5)
Earnings per share - basic and diluted (in dollars per share)	[1]	$ 0.04	$ 0
As Originally Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Mortgage fees and taxes		$ 33	$ 24
Total other expenses		2,634	2,496
Income (loss) before income taxes		111	(17)
Provision (benefit) for income taxes		22	(28)
Net income (loss)		$ 89	$ 11
Earnings per share - basic and diluted (in dollars per share)		$ 0.05	$ 0.01
[1]	Restated

Restatement (Details 2)

Restatement (Details 2) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	[1]	$ 74	$ (5)
Comprehensive income (loss)	[1]	(18)	5
As Originally Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		89	11
Comprehensive income (loss)		$ (3)	$ 21
[1]	Restated

Restatement (Details 3)

Restatement (Details 3) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	[1]	$ 31,056	$ 31,775
Increase (decrease) attributable to net income (loss)	[1]	74	(5)
Balance, end of period	[1]	31,137	31,793
As Originally Reported
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period		31,219	31,859
Increase (decrease) attributable to net income (loss)		89	11
Balance, end of period		$ 31,315	$ 31,893
[1]	Restated

Restatement (Details 4)

Restatement (Details 4) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	[1]	$ 74	$ (5)
Increase in other assets	[1]	(182)	(168)
Decrease in other liabilities	[1]	(16)	(418)
As Originally Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		89	11
Increase in other assets		(203)	(192)
Decrease in other liabilities		$ (10)	$ (410)
[1]	Restated

Restatement (Detail Textuals)

Restatement (Detail Textuals) - USD ($) $ in Thousands		3 Months Ended		18 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reduction in income before income taxes	[1]	$ 92	$ (41)
Reduction in income net of income taxes	[1]	$ 74	$ (5)
Cumulative effect of residential mortgage loans in Erie County restatement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reduction in income before income taxes				$ (266)
Reduction in income net of income taxes				$ (178)
[1]	Restated

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Basic and Diluted Earnings Per Common Share
Net income (loss) available to common stockholders		$ 74	$ (5)
Weighted average common shares outstanding		1,907	1,905
Earnings per share - basic and diluted (in dollars per share)	[1]	$ 0.04	$ 0
[1]	Restated

Earnings per Common Share (De36

Earnings per Common Share (Detail Textuals) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Stock options grants to senior management and directors	15,000	0
Restricted stock grants to senior management and directors	6,400
Grant vesting period	5 years

Investment Securities - Amortiz

Investment Securities - Amortized cost and estimated fair value of securities with gross unrealized gains and losses (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Available-for-Sale Portfolio
Amortized cost		$ 18,118	$ 18,521
Gross unrealized gains		15	19
Gross unrealized losses		(341)	(227)
Fair Value	[1]	17,792	18,313
Held-to-Maturity Portfolio
Amortized cost		6,404	6,575
Gross unrealized gains		25	50
Gross unrealized losses		(73)	(37)
Fair Value	[1]	6,356	6,588
U.S. Government and agency obligations
Available-for-Sale Portfolio
Amortized cost		10,611	10,612
Gross unrealized gains		0	0
Gross unrealized losses		(207)	(142)
Fair Value		10,404	10,470
Mortgage-backed securities - residential
Available-for-Sale Portfolio
Amortized cost		7,507	7,909
Gross unrealized gains		15	19
Gross unrealized losses		(134)	(85)
Fair Value		7,388	7,843
Held-to-Maturity Portfolio
Amortized cost		472	637
Gross unrealized gains		6	9
Gross unrealized losses		0	0
Fair Value		478	646
State and Municipal securities
Held-to-Maturity Portfolio
Amortized cost		5,932	5,938
Gross unrealized gains		19	41
Gross unrealized losses		(73)	(37)
Fair Value		$ 5,878	$ 5,942
[1]	Restated

Investment Securities - Amort38

Investment Securities - Amortized cost and estimated fair value by contractual maturity of debt securities (Details 1) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Available-for-Sale Amortized Cost
Due in one year or less		$ 0
Due after one year through five years		8,606
Due after five years through ten years		1,005
Due after ten years		1,000
Sub-total		10,611
Amortized cost		18,118	$ 18,521
Available-for-Sale Fair Value
Due in one year or less		0
Due after one year through five years		8,423
Due after five years through ten years		1,004
Due after ten years		977
Sub-total		10,404
Fair Value	[1]	17,792	18,313
Held-to-Maturity Amortized Cost
Due in one year or less		838
Due after one year through five years		3,299
Due after five years through ten years		1,795
Due after ten years		0
Sub-total		5,932
Amortized cost		6,404	6,575
Held-to-Maturity Fair Value
Due in one year or less		835
Due after one year through five years		3,274
Due after five years through ten years		1,769
Due after ten years		0
Sub-total		5,878
Fair Value	[1]	6,356	6,588
Mortgage-backed securities - residential
Available-for-Sale Amortized Cost
Amortized cost		7,507	7,909
Available-for-Sale Fair Value
Fair Value		7,388	7,843
Held-to-Maturity Amortized Cost
Amortized cost		472	637
Held-to-Maturity Fair Value
Fair Value		$ 478	$ 646
[1]	Restated

Investment Securities - Gross u

Investment Securities - Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (Details 2) $ in Thousands		Mar. 31, 2018USD ($)Security	Dec. 31, 2017USD ($)Security
Available-for-Sale
Less than Twelve Months Number of individual securities | Security		9	8
Less than Twelve Months, unrealized losses		$ 108	$ 57
Less than Twelve Months, fair value		$ 7,332	$ 6,931
Twelve Months or More Number of individual securities | Security		8	9
Twelve Months or More, unrealized losses		$ 233	$ 170
Twelve Months or More, fair value		$ 9,021	$ 9,434
Total Number of Individual Securities | Security		17	17
Total Unrealized Losses		$ 341	$ 227
Total Fair Value		$ 16,353	$ 16,365
Held-to-Maturity
Less than Twelve Months Number of individual securities | Security		16	10
Less than Twelve Months, Unrealized Losses		$ 48	$ 16
Less than Twelve Months, Fair Value		$ 3,375	$ 1,574
Twelve Months or More Number of individual securities | Security		6	6
Twelve Months or More, Unrealized Losses		$ 25	$ 21
Twelve Months or More, Fair Value		$ 1,491	$ 1,502
Total Number of Individual Securities | Security		22	16
Total Unrealized Losses		$ 73	$ 37
Total Fair Value		$ 4,866	$ 3,076
U.S. Government and agency obligations
Available-for-Sale
Less than Twelve Months Number of individual securities | Security		4	4
Less than Twelve Months, unrealized losses		$ 66	$ 34
Less than Twelve Months, fair value		$ 4,438	$ 4,472
Twelve Months or More Number of individual securities | Security		5	5
Twelve Months or More, unrealized losses		$ 141	$ 108
Twelve Months or More, fair value		$ 5,966	$ 5,999
Total Number of Individual Securities | Security		9	9
Total Unrealized Losses		$ 207	$ 142
Total Fair Value		$ 10,404	$ 10,471
Mortgage-backed securities - residential
Available-for-Sale
Less than Twelve Months Number of individual securities | Security		5	4
Less than Twelve Months, unrealized losses		$ 42	$ 23
Less than Twelve Months, fair value		$ 2,894	$ 2,459
Twelve Months or More Number of individual securities | Security		3	4
Twelve Months or More, unrealized losses		$ 92	$ 62
Twelve Months or More, fair value		$ 3,055	$ 3,435
Total Number of Individual Securities | Security		8	8
Total Unrealized Losses		$ 134	$ 85
Total Fair Value		$ 5,949	$ 5,894
Held-to-Maturity
Less than Twelve Months Number of individual securities | Security	[1]	0	0
Less than Twelve Months, Unrealized Losses	[1]	$ 0	$ 0
Less than Twelve Months, Fair Value	[1]	$ 0	$ 0
Twelve Months or More Number of individual securities | Security	[1]	1	1
Twelve Months or More, Unrealized Losses	[1]	$ 0	$ 0
Twelve Months or More, Fair Value	[1]	$ 169	$ 171
Total Number of Individual Securities | Security	[1]	1	1
Total Unrealized Losses	[1]	$ 0	$ 0
Total Fair Value	[1]	$ 169	$ 171
State and Municipal securities
Held-to-Maturity
Less than Twelve Months Number of individual securities | Security		16	10
Less than Twelve Months, Unrealized Losses		$ 48	$ 16
Less than Twelve Months, Fair Value		$ 3,375	$ 1,574
Twelve Months or More Number of individual securities | Security		5	5
Twelve Months or More, Unrealized Losses		$ 25	$ 21
Twelve Months or More, Fair Value		$ 1,322	$ 1,331
Total Number of Individual Securities | Security		21	15
Total Unrealized Losses		$ 73	$ 37
Total Fair Value		$ 4,697	$ 2,905
[1]	Aggregate unrealized loss position of these securities is less than $500.

Investment Securities - Gross40

Investment Securities - Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (Parentheticals) (Details 2) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Mortgage-backed securities - residential
Available For Sale And Held To Maturity Securities Unrealized Loss Position [Line Items]
Aggregate unrealized loss position	$ 500	$ 500

Investment Securities (Detail T

Investment Securities (Detail Textuals) - Security	Mar. 31, 2018	Dec. 31, 2017
Schedule Of Available For Sale and Held To Maturity Securities [Line Items]
Number of securities in unrealized loss position	39	33
Number of securities in unrealized loss position in for greater than twelve months	14	15
Number of securities in unrealized loss position in for less than twelve months	25	18
Mortgage-backed securities - residential
Schedule Of Available For Sale and Held To Maturity Securities [Line Items]
Number of securities in unrealized loss position in for greater than twelve months	9
Number of securities in unrealized loss position in for less than twelve months	9
State and political subdivisions
Schedule Of Available For Sale and Held To Maturity Securities [Line Items]
Number of securities in unrealized loss position in for greater than twelve months	5
Number of securities in unrealized loss position in for less than twelve months	16

Loans - Major classifications o

Loans - Major classifications of loans (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 267,899	$ 263,973
Net deferred loan origination costs	(22)	(1)
Less: Allowance for loan losses	(1,336)	(1,261)	$ (1,042)	$ (990)
Loans receivable, net	266,541	262,711
Real estate loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	263,700	260,224
Real estate loans: | Secured by one-to-four family residences
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	211,265	206,894
Less: Allowance for loan losses	(742)	(816)	(661)	(584)
Real estate loans: | Secured by multi-family residences
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,499	10,650
Less: Allowance for loan losses	(79)	(80)	(45)	(38)
Real estate loans: | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,401	10,750
Less: Allowance for loan losses	(42)	(54)	(31)	(31)
Real estate loans: | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	16,713	14,803
Less: Allowance for loan losses	(205)	(148)	(107)	(84)
Real estate loans: | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	16,822	17,127
Less: Allowance for loan losses	(105)	(107)	(114)	(112)
Other Loans Portfolio Segment | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,142	3,679
Less: Allowance for loan losses	(53)	(47)	(28)	(28)
Other Loans Portfolio Segment | Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	57	70
Less: Allowance for loan losses	$ (110)	$ (9)	$ (56)	$ (113)

Loans - Risk category of loans

Loans - Risk category of loans by class (Details 1) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 267,899	$ 263,973
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	264,513	260,664
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,070	116
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,316	3,193
Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	263,700	260,224
Real estate loans: | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	260,314	256,915
Real estate loans: | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,070	116
Real estate loans: | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,316	3,193
Real estate loans: | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Secured by one-to-four family residences
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	211,265	206,894
Real estate loans: | Secured by one-to-four family residences | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	209,049	203,815
Real estate loans: | Secured by one-to-four family residences | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	115	116
Real estate loans: | Secured by one-to-four family residences | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,101	2,963
Real estate loans: | Secured by one-to-four family residences | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Secured by multi-family residences
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,499	10,650
Real estate loans: | Secured by multi-family residences | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,499	10,650
Real estate loans: | Secured by multi-family residences | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Secured by multi-family residences | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Secured by multi-family residences | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,401	10,750
Real estate loans: | Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,401	10,750
Real estate loans: | Construction | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Construction | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Construction | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	16,713	14,803
Real estate loans: | Commercial real estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	15,758	14,803
Real estate loans: | Commercial real estate | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	955	0
Real estate loans: | Commercial real estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Commercial real estate | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	16,822	17,127
Real estate loans: | Home equity lines of credit | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	16,607	16,897
Real estate loans: | Home equity lines of credit | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Real estate loans: | Home equity lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	215	230
Real estate loans: | Home equity lines of credit | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Other Loans Portfolio Segment | Commercial & industrial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,142	3,679
Other Loans Portfolio Segment | Commercial & industrial loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,142	3,679
Other Loans Portfolio Segment | Commercial & industrial loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Other Loans Portfolio Segment | Commercial & industrial loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Other Loans Portfolio Segment | Commercial & industrial loans | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Other Loans Portfolio Segment | Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	57	70
Other Loans Portfolio Segment | Other loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	57	70
Other Loans Portfolio Segment | Other loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Other Loans Portfolio Segment | Other loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	0	0
Other Loans Portfolio Segment | Other loans | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 0	$ 0

Loans - Analysis of the age of

Loans - Analysis of the age of the loan delinquencies by type and by amount past due (Details 2) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 312	$ 852
Current	267,587	263,121
Loans	267,899	263,973
30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	221	699
60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	91	153
Real estate loans:
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	312	852
Current	263,388	259,372
Loans	263,700	260,224
Real estate loans: | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	221	699
Real estate loans: | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	91	153
Real estate loans: | Secured by one-to-four family residences
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	155	852
Current	211,110	206,042
Loans	211,265	206,894
Real estate loans: | Secured by one-to-four family residences | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	64	699
Real estate loans: | Secured by one-to-four family residences | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Secured by one-to-four family residences | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	91	153
Real estate loans: | Secured by multi-family residences
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	10,499	10,650
Loans	10,499	10,650
Real estate loans: | Secured by multi-family residences | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Secured by multi-family residences | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Secured by multi-family residences | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	8,401	10,750
Loans	8,401	10,750
Real estate loans: | Construction | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Construction | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Construction | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	16,713	14,803
Loans	16,713	14,803
Real estate loans: | Commercial | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Commercial | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Commercial | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Home equity lines of credit
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	157	0
Current	16,665	17,127
Loans	16,822	17,127
Real estate loans: | Home equity lines of credit | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	157	0
Real estate loans: | Home equity lines of credit | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate loans: | Home equity lines of credit | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Other Loans Portfolio Segment | Commercial & industrial loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	4,142	3,679
Loans	4,142	3,679
Other Loans Portfolio Segment | Commercial & industrial loans | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Other Loans Portfolio Segment | Commercial & industrial loans | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Other Loans Portfolio Segment | Commercial & industrial loans | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Other Loans Portfolio Segment | Other loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	57	70
Loans	57	70
Other Loans Portfolio Segment | Other loans | 30-59 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Other Loans Portfolio Segment | Other loans | 60-89 Days Past Due And Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Other Loans Portfolio Segment | Other loans | 90 Days and Over
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

Loans (Detail Textuals)

Loans (Detail Textuals)	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)SecurityLoans	Dec. 31, 2017USD ($)SecurityLoans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans serviced for others	$ 132,100,000	$ 132,400,000
Loans	267,899,000	263,973,000
Total Past Due	312,000	852,000
30-59 Days Past Due And Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	221,000	699,000
90 Days and Over
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	91,000	153,000
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,316,000	3,193,000
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,070,000	116,000
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value of loans pledged as collateral	$ 194,800,000	$ 190,400,000
Number of nonaccrual loans | Security	2	2
Financing receivable, recorded Investment, nonaccrual status	$ 91,000	$ 153,000
Number of loans newly categorized | Loans	2	5
Real estate loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 263,700,000	$ 260,224,000
Total Past Due	312,000	852,000
Real estate loans: | 30-59 Days Past Due And Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	221,000	699,000
Real estate loans: | 90 Days and Over
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	91,000	153,000
Real estate loans: | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,316,000	3,193,000
Real estate loans: | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,070,000	116,000
Real estate loans: | Secured by one-to-four family residences
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	211,265,000	206,894,000
Total Past Due	155,000	852,000
Real estate loans: | Secured by one-to-four family residences | 30-59 Days Past Due And Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	$ 64,000	699,000
Percentage of past due loans decreased	90.80%
Amount of past due loans decreased	$ 635,000
Real estate loans: | Secured by one-to-four family residences | 90 Days and Over
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	91,000	153,000
Real estate loans: | Secured by one-to-four family residences | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,101,000	2,963,000
Amount of loan decreased	$ 862,000
Percentage of loan decreased	29.10%
Real estate loans: | Secured by one-to-four family residences | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 115,000	116,000
Real estate loans: | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	16,713,000	14,803,000
Total Past Due	0	0
Real estate loans: | Commercial | 30-59 Days Past Due And Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	0	0
Real estate loans: | Commercial | 90 Days and Over
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	0	0
Real estate loans: | Commercial | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	0	0
Real estate loans: | Commercial | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	955,000	0
Amount of loan increased		$ 955,000
Number of loans newly categorized | Loans		2
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of mortgage servicing rights	$ 894,000	$ 892,000

Allowance for Loan Losses and46

Allowance for Loan Losses and Foreclosed Real Estate - Allowance for loan losses allocated by loan class and the activity (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		$ 1,261	$ 990
Charge-offs		0	0
Recoveries		0	0
Provisions	[1]	75	52
Ending Balance		1,336	1,042
Real estate loans: | Secured by one-to-four family residences
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		816	584
Charge-offs		0	0
Recoveries		0	0
Provisions		(74)	77
Ending Balance		742	661
Real estate loans: | Secured by multi-family residences
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		80	38
Charge-offs		0	0
Recoveries		0	0
Provisions		(1)	7
Ending Balance		79	45
Real estate loans: | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		54	31
Charge-offs		0	0
Recoveries		0	0
Provisions		(12)	0
Ending Balance		42	31
Real estate loans: | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		148	84
Charge-offs		0	0
Recoveries		0	0
Provisions		57	23
Ending Balance		205	107
Real estate loans: | Home equity lines of credit
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		107	112
Charge-offs		0	0
Recoveries		0	0
Provisions		(2)	2
Ending Balance		105	114
Other Loans Portfolio Segment | Commercial & industrial loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		47	28
Charge-offs		0	0
Recoveries		0	0
Provisions		6	0
Ending Balance		53	28
Other Loans Portfolio Segment | Other/Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance		9	113
Charge-offs		0	0
Recoveries		0	0
Provisions		101	(57)
Ending Balance		$ 110	$ 56
[1]	Restated

Allowance for Loan Losses and47

Allowance for Loan Losses and Foreclosed Real Estate (Detail Textuals)	3 Months Ended
	Mar. 31, 2017USD ($)
Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value of loan in process of foreclosure	$ 37,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Available-for-Sale Portfolio
Securities available for sale	[1]	$ 17,792	$ 18,313
Fair Value | Level 2
Available-for-Sale Portfolio
Securities available for sale		17,792	18,313
Fair Value, Measurements, Recurring | Level 1
Available-for-Sale Portfolio
Securities available for sale		0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Government and agency obligations
Available-for-Sale Portfolio
Securities available for sale		0	0
Fair Value, Measurements, Recurring | Level 1 | Mortgage-backed securities - residential
Available-for-Sale Portfolio
Securities available for sale		0	0
Fair Value, Measurements, Recurring | Level 2
Available-for-Sale Portfolio
Securities available for sale		17,792	18,313
Fair Value, Measurements, Recurring | Level 2 | U.S. Government and agency obligations
Available-for-Sale Portfolio
Securities available for sale		10,404	10,470
Fair Value, Measurements, Recurring | Level 2 | Mortgage-backed securities - residential
Available-for-Sale Portfolio
Securities available for sale		7,388	7,843
Fair Value, Measurements, Recurring | Level 3
Available-for-Sale Portfolio
Securities available for sale		0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. Government and agency obligations
Available-for-Sale Portfolio
Securities available for sale		0	0
Fair Value, Measurements, Recurring | Level 3 | Mortgage-backed securities - residential
Available-for-Sale Portfolio
Securities available for sale		0	0
Fair Value, Measurements, Recurring | Fair Value
Available-for-Sale Portfolio
Securities available for sale		17,792	18,313
Fair Value, Measurements, Recurring | Fair Value | U.S. Government and agency obligations
Available-for-Sale Portfolio
Securities available for sale		10,404	10,470
Fair Value, Measurements, Recurring | Fair Value | Mortgage-backed securities - residential
Available-for-Sale Portfolio
Securities available for sale		$ 7,388	$ 7,843
[1]	Restated

Fair Value Measurements - Carry

Fair Value Measurements - Carrying amounts and estimated fair values of the financial instruments (Details 1) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Financial assets:
Interest earning demand deposits	[1]	$ 6,220	$ 8,725
Securities - available-for-sale	[1]	17,792	18,313
Securities - held-to-maturity	[1]	6,404	6,575
Carrying Amount | Level 1
Financial assets:
Cash and due from banks		1,484	1,672
Interest earning demand deposits		6,220	8,725
Accrued interest receivable		809	824
Financial liabilities:
Demand Deposits, Savings, NOW and MMDA		102,539	103,377
Accrued interest payable		133	94
Carrying Amount | Level 2
Financial assets:
Securities - available-for-sale		17,792	18,313
Securities - held-to-maturity		6,404	6,575
Investment in restricted stock		3,274	3,270
Loans held for sale		2,244	2,770
Financial liabilities:
Time Deposits		114,218	113,314
Borrowings		64,535	64,447
Carrying Amount | Level 3
Financial assets:
Loans, net		266,541	262,711
Fair Value | Level 1
Financial assets:
Cash and due from banks		1,484	1,672
Interest earning demand deposits		6,220	8,725
Accrued interest receivable		809	824
Financial liabilities:
Demand Deposits, Savings, NOW and MMDA		102,539	103,377
Accrued interest payable		133	94
Fair Value | Level 2
Financial assets:
Securities - available-for-sale		17,792	18,313
Securities - held-to-maturity		6,356	6,588
Investment in restricted stock		3,274	3,270
Loans held for sale		2,244	2,770
Financial liabilities:
Time Deposits		114,604	113,501
Borrowings		64,777	64,502
Fair Value | Level 3
Financial assets:
Loans, net		$ 261,662	$ 261,588
[1]	Restated

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Unrealized Gains and Losses on Available-for-Sale Securities, Beginning balance	$ (165)	$ (85)
Unrealized Gains and Losses on Available-for-Sale Securities, Other comprehensive (loss) income before reclassifications	(92)	10
Unrealized Gains and Losses on Available-for-Sale Securities, Ending balance	(257)	(75)
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance	(165)	(85)
Other comprehensive (loss) income before reclassifications	(92)	10
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance	$ (257)	$ (75)

Non-Interest Income (Details)

Non-Interest Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Service fees
Deposit related fees		$ 10	$ 19
Insufficient funds fee		22	21
Total service fees	[1]	32	40
Fee income
Securities commission income		17	12
Insurance commission income		22	23
Total insurance and securities commission income	[1]	39	35
Card income
Debit card interchange fee income		35	31
ATM fees		7	7
Total card income		42	38
Mortgage fee income and realized gain on sales of loans
Residential mortgage loan origination fees		81	83
Commercial loan fees		8	13
Loan servicing income		85	76
Realized gain on sales of residential mortgage loans		301	326
Realized gain on sale of SBA loan		47	0
Total mortgage fee income and realized gain on sales of loans		522	498
Bank owned life insurance	[1]	15	15
Other miscellaneous income		18	10
Total non-interest income	[1]	$ 668	$ 636
[1]	Restated

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Options
Outstanding at beginning of year	152,080	0
Grants	15,000	0
Exercised	0	0
Outstanding at quarter end	167,080	0
Exercisable at quarter end	0	0
Weighted Average Exercise Price Per Share
Outstanding at beginning of year	$ 16.72	$ 0
Grants	17.52	0
Exercised	0	0
Outstanding at quarter end	16.79	0
Exercisable at quarter end	$ 0	$ 0

Stock-Based Compensation (Det53

Stock-Based Compensation (Detail Textuals) $ / shares in Units, $ in Thousands	Jan. 05, 2018Executiveofficer$ / sharesshares	Mar. 31, 2018USD ($)$ / sharesshares	Mar. 31, 2017$ / sharesshares
Defined Benefit Plan Disclosure [Line Items]
Restricted stock grants to senior management and directors		6,400
Share based payment award, vesting period		5 years
Stock options grants to senior management and directors		15,000	0
Stock option exercise price | $ / shares		$ 17.52	$ 0
Compensation expense | $		$ 76,000
Restricted stock
Defined Benefit Plan Disclosure [Line Items]
Restricted stock grants to senior management and directors	6,400
Share based payment award, vesting period	5 years
Percentage of share base payment award	20.00%
Number of executive officer | Executiveofficer	4
Stock option
Defined Benefit Plan Disclosure [Line Items]
Share based payment award, vesting period	5 years
Issuance of stock options		194,168
Stock options grants to senior management and directors	15,000
Stock option exercise price | $ / shares	$ 17.52
Term of option	10 years
Number of executive officer | Executiveofficer	3
Senior management and directors | Stock option
Defined Benefit Plan Disclosure [Line Items]
Share based payment award, vesting period		5 years