Heritage NOLA Bancorp (HRGG) 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Heritage NOLA Bancorp, Inc.
Entity Central Index Key	1,700,175
Trading Symbol	hrgg
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,653,125
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and Due from Banks	$ 563	$ 530
Interest Earning Deposits in Banks	7,967	7,484
Total Cash and Cash Equivalents	8,530	8,014
Securities Available for Sale, at Fair Value	5,975	7,175
Securities Held to Maturity	690	832
Federal Home Loan Bank Stock	780	495
Other Investments	178	178
Mortgage Loans Held for Sale	111
Loans Receivable, Net of Allowance for Loan Losses of $757 at September 30, 2017 and $692 at December 31, 2016	86,475	74,659
Premises and Equipment	3,678	3,716
Bank Owned Life Insurance	2,038	2,001
Foreclosed Real Estate	84	93
Mortgage Servicing Rights	340	325
Accrued Interest Receivable	357	318
Prepaid Expenses and Other Assets	217	209
Total Assets	109,453	98,015
LIABILITIES AND EQUITY
Interest Bearing Deposits	68,220	69,901
Noninterest Bearing Deposits	3,122	4,350
Total Deposits	71,342	74,251
Borrowed Funds	12,567	13,274
Advances from Borrowers for Taxes and Insurance	565	275
Accrued Expenses and Other Liabilities	1,025	755
Total Liabilities	85,499	88,555
Shareholders' Equity
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued
Common stock, $0.01 par value, 9,000,000 shares authorized, 1,653,125 shares issued and outstanding	17
Additional paid-in capital	15,430
Unallocated common stock held by:
Employee Stock Ownership Plan (ESOP)	(1,323)
Recognition and Retention Plan (RRP)	0	0
Retained Earnings	9,803	9,429
Accumulated Other Comprehensive Income	27	31
Total Shareholders' Equity	23,954	9,460
Total Liabilities and Shareholders' Equity	$ 109,453	$ 98,015

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 757	$ 692
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	9,000,000	9,000,000
Common stock, shares issued	1,653,125	1,653,125
Common stock, shares outstanding	1,653,125	1,653,125

Consolidated Statements of Fin4

Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest Income
First Mortgage Loans	$ 1,009	$ 924	$ 3,001	$ 2,833
HELOC's	31	23	86	70
Securities	33	35	106	107
Second Mortgages	7	9	25	22
Commercial Loans	14		29
Consumer Loans (Secured by Deposits)	3	3	9	7
Other Interest Earning Assets	52	24	111	69
Total Interest Income	1,149	1,018	3,367	3,108
Interest Expense
Deposits	202	213	614	626
Borrowed Funds	47	38	156	121
Total Interest Expense	249	251	770	747
Net Interest Income	900	767	2,597	2,361
Provision for Loan Losses	15	15	65	70
Net Interest Income after Provision for Loan Losses	885	752	2,532	2,291
Noninterest Income
Gain on Sale of Loans Originated for Sale	22	27	49	68
Loan Servicing Income	36	48	119	143
Gain (Loss) on Sale of Foreclosed Real Estate			1	(51)
Other Income	22	23	67	69
Total Noninterest Income	80	98	236	229
Noninterest Expense
Salaries and Employee Benefits	433	392	1,278	1,183
Data Processing	49	47	154	142
Occupancy and Equipment - Other	50	49	120	140
Occupancy and Equipment - Depreciation	43	46	130	139
FDIC Insurance and Examination Fees	27	32	79	96
Director Compensation	17	20	53	60
Expense on Foreclosed Real Estate	2	7	3	32
Write-down of Foreclosed Real Estate				71
Advertising	23	19	72	63
Other	105	117	304	291
Total Noninterest Expense	749	729	2,193	2,217
Income Before Income Tax Expense	216	121	575	303
Income Tax Expense	76	37	201	67
Net Income	$ 140	$ 84	$ 374	$ 236
Earnings per share: Basic and Diluted (in dollars per share)	$ 0.09		$ 0.25

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 140	$ 84	$ 374	$ 236
Other Comprehensive Income (Loss):
Unrealized Holding Gains (Losses) on Securities Available for Sale	(3)	(13)	(7)	34
Income Tax Effect	1	4	3	(12)
Total Other Comprehensive Income (Loss)	(2)	(9)	(4)	22
Comprehensive Income	$ 138	$ 75	$ 370	$ 258

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid In Capital Capital	Unallocated ESOP Shares	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2015				$ 9,271	$ 55	$ 9,326
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income				236		236
Other Comprehensive Income (Loss)					22	22
Balance at Sep. 30, 2016				9,507	77	9,584
Balance at Dec. 31, 2016				9,429	31	9,460
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Value, New Issues	$ 17	$ 15,430	$ (1,323)			14,124
Net Income				374		374
Other Comprehensive Income (Loss)					(4)	(4)
Balance at Sep. 30, 2017	$ 17	$ 15,430	$ (1,323)	$ 9,803	$ 27	$ 23,954

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net Income	$ 374	$ 236
Adjustments to reconcile net income (loss) to net cash from operating activities
Provision for Loan Losses	65	70
Writedowns of Foreclosed Real Estate		71
Provision for Depreciation	130	139
Deferred Income Tax Expense (Benefit)	(41)
Change in Mortgage Servicing Rights	(15)	(32)
(Accretion) Amortization of Premiums and Discounts on Securities	35	34
(Accretion) Amortization of Deferred Loan Origination Fees	6	(31)
Gain on Sale of Loans Originated for Sale	(49)	(68)
Originations of Loans Held for Sale	(111)
Gain on Sale of Foreclosed Real Estate	(1)
Loss on Sale of Foreclosed Real Estate		51
(Increase) Decrease in Accrued Interest Receivable	(39)	18
(Increase) Decrease in Bank Owned Life Insurance	(37)	(40)
(Increase) Decrease in Prepaid Expenses and Other Assets	36	(34)
Increase (Decrease) in Accrued Expenses and Other Liabilities	270	199
Net Cash provided by Operating Activities	623	613
Cash Flows from Investing Activities
Purchases of Securities Available For Sale		(1,059)
Principal Collected on Securities Available for Sale	1,164	1,324
Principal Collected on Securities Held to Maturity	136	214
Purchase of Federal Home Loan Bank Stock	(285)	(33)
Purchase of Other Investments		(178)
Net (Increase) Decrease in Loans	(11,838)	35
Purchases of Premises and Equipment	(92)	(8)
Proceeds from Sales of Foreclosed Real Estate	10	522
Net Cash provided by (used in) Investing Activities	(10,905)	817
Cash Flows from Financing Activities
Net Increase (Decrease) in Deposits	(2,909)	509
Proceeds from Stock Offering	15,447
Loan to ESOP for Purchase of Stock	(1,323)
Advances from Borrowers for Taxes and Insurance	290	255
Funds Borrowed	9,550	5,150
Repayments of Borrowed Funds	(10,257)	(5,681)
Net Cash provided by Financing Activities	10,798	233
Net Change in Cash and Cash Equivalents	516	1,663
Cash and Cash Equivalents - Beginning of Period	8,014	8,572
Cash and Cash Equivalents - End of Period Ending Cash and Cash Equivalents	8,530	10,235
Cash paid during the period for:
Interest Paid on Deposits and Borrowed Funds	$ 770	$ 747

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Note A – Basis of Presentation The accompanying unaudited consolidated financial statements of Heritage NOLA Bancorp, Inc. (the “Company”) were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, comprehensive income, changes in equity and cash flows in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three and nine month periods ended September 30, 2017 are not necessarily indicative of the results which may be expected for the entire year. These statements should be read in conjunction with the Financial Statements and notes thereto for the year ended December 31, 2016 included in the Form S-1 of Heritage NOLA Bancorp, Inc. as filed with the Securities and Exchange Commission (“SEC”). Reference is made to the accounting policies of the Company described in the Notes to the Financial Statements contained in the Form S-1. In preparing the financial statements, the Company is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the Company’s financial condition, results of operations, comprehensive income, changes in shareholders’ equity and cash flows for the interim periods presented. These adjustments are of a normal recurring nature and include appropriate estimated provisions.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note B – Recent Accounting Pronouncements Emerging Growth Company Status The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). For as long as the Company is an emerging growth company, it may choose to take advantage of exemptions from various reporting requirements applicable to other public companies. An emerging growth company may elect to use the extended transition period to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies, but must make such election when the company is first required to file a registration statement. The Company has elected to use the extended transition period described above and intends to maintain its emerging growth company status as allowed under the JOBS Act. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The provisions of the update requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In March, 2016 the FASB issued ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in determining revenue recognition as principal versus agent. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing, which provides guidance in accounting for immaterial performance obligations and shipping and handling. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients which provides clarification on assessing the collectability criterion, presentation of sales taxes, measurement date for noncash consideration and completed contracts at transition. This ASU also provides a practical expedient for contract modifications. For an emerging growth company, the amendments in this update are effective for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our 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 Financial Liabilities. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), Conforming Amendments Related to Leases In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In August 2016, FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. The amendments in this ASU clarify the proper classification for certain cash receipts and cash payments, including clarification on debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, among others. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our Consolidated Financial Statements.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note C – Earnings Per Share Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that may be issued by the Company relate to outstanding stock options. Earnings per common share were computed based on the following: Nine Months Ended September 30, (in thousands, except per share data) 2017 Numerator: Net income available to common shareholders $ 374 Denominator: Common shares outstanding (Total issued, less unallocated ESOP shares) 1,521 Dilutive stock options - 1,521 Basic (and Diluted) earnings per common share $ 0.25

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Note D – Investment Securities The amortized costs and estimated fair values of investment securities classified as available for sale and held to maturity as of September 30, 2017 and December 31, 2016 is as follows: September 30, 2017 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: Mortgage-Backed Securities $ 5,933 $ 72 $ (30 ) $ 5,975 Held to Maturity: Mortgage-Backed Securities $ 690 $ 1 $ (7 ) $ 684 December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: Mortgage-Backed Securities $ 7,126 $ 87 $ (38 ) $ 7,175 Held to Maturity: Mortgage-Backed Securities $ 832 $ 1 $ (9 ) $ 824 There were no securities sold in 2017 or 2016. All mortgage-backed securities held on September 30, 2017 and December 31, 2016 were government-sponsored mortgage-backed securities. The amortized cost and fair value of investment securities at September 30, 2017 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Fair (in thousands) Cost Value Available for Sale: Less than One Year $ 2 $ 2 After One Year Through Five Years 5 5 After Five Years Through Ten Years 1,400 1,403 After Ten Years 4,526 4,565 $ 5,933 $ 5,975 Held to Maturity: After Five Years Through Ten Years $ 378 $ 379 After Ten Years 312 305 $ 690 $ 684 The following tables reflect gross unrealized losses, fair values, and length of time in a continued unrealized loss position for all securities with fair values below amortized cost at September 30, 2017 and December 31, 2016: September 30, 2017 Less Than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for Sale: Mortgage-Backed Securities $ 2,487 $ 11 $ 1,018 $ 19 $ 3,505 $ 30 Held to Maturity: Mortgage-Backed Securities $ - $ - $ 292 $ 7 $ 292 $ 7 December 31, 2016 Less Than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for Sale: Mortgage-Backed Securities $ 2,300 $ 15 $ 1,231 $ 23 $ 3,531 $ 38 Held to Maturity: Mortgage-Backed Securities $ 587 $ 2 $ 218 $ 7 $ 805 $ 9 On a quarterly basis (and more frequently when economic or market conditions warrant), management evaluates the investment securities portfolio on an individual security basis for other-than- temporary impairment (“OTTI”). If a security is in a loss position, management will determine if OTTI exists and will consider the following. First, if it is probable that the issuer of the security will be unable to pay all amounts due according to the contractual terms of the debt security, OTTI will be recognized. Second, if management intends to sell the security and does not expect to recover the loss before the anticipated sale date, OTTI will be recognized. In both instances, OTTI will be recognized for the affected security equal to the difference between the fair value and amortized cost through a charge to earnings. Third, if a security does not meet either of the criteria above and is both in a loss position for greater than one year and at a current loss of 10% or more, management will evaluate its ability and intent to retain its investment for a period of time sufficient to allow for any anticipated recovery in fair value. Declines in the fair value of individual held to maturity and available for sale securities below their cost that are other-than-temporary result in write-downs of the individual securities to their fair value. The related write-downs are included in earnings as realized losses. No declines at September 30, 2017 and December 31, 2016, were deemed to be other-than-temporary. The unrealized losses on the securities available for sale generally result from changes in market interest rates and not credit quality. The Company does not intend to sell any such investments before recovery of their amortized cost bases, which may be at maturity.

Credit Quality and Allowance fo

Credit Quality and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Credit Quality and Allowance for Loan Losses	Note E - Credit Quality and Allowance for Loan Losses A selection of the loan and allowance for loan losses policies are as follows: Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for loan losses, and any deferred loan fees or costs on originated loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of direct loan origination costs, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on the loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Loans are typically charged off not later than 180 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash basis or cost recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The performing one-to-four family residential, commercial real estate, and commercial loans are pledged, under a blanket lien, as collateral securing advances from the Federal Home Loan Bank of Dallas, (“FHLB”) at September 30, 2017 and December 31, 2016. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical charge-off experience. Other adjustments may be made to the allowance for pools of loans after an assessment of internal and external influence on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based upon current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls are considered on a case by case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Loans receivable at September 30, 2017 and December 31, 2016 are summarized as follows: (in thousands) September 30, 2017 December 31, 2016 Real Estate: Secured by one-to four family residential properties Owner-occupied $ 50,543 $ 46,353 Non-owner-occupied 12,019 11,237 Home Equity Lines of Credit 2,478 2,246 Commercial (Nonresidential) Properties 16,355 7,234 Land 2,773 2,907 Construction 1,542 3,475 Multi-family 1,682 2,629 Commercial 1,055 295 Consumer Loans 368 285 Total Loans 88,815 76,661 Less: Net Deferred Loan Fees (453 ) (459 ) Loans in Process (1,130 ) (851 ) Allowance for Loan Losses (757 ) (692 ) Net Loans $ 86,475 $ 74,659 The tables below provide a summary of activity in the allowance for loan losses by loan type as of and for the nine months ended September 30, 2017 and the year ended December 31, 2016. The allocation of a portion of the allowance to one category does not preclude its availability to absorb losses in other categories. Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Nine Months Ended September 30, 2017 (in thousands) Real Estate Commercial Land One-to-Four Construction Multi-Family Consumer Commercial Total Allowance for Credit Losses: Beginning Balance $ 43 $ 101 $ 528 $ 8 $ 3 $ - $ 9 $ 692 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provision 25 (48 ) 77 (4 ) (2 ) - 17 65 Ending Balance $ 68 $ 53 $ 605 $ 4 $ 1 $ - $ 26 $ 757 Ending Balance: Individually Evaluated for Impairment $ 14 $ 2 $ 23 $ - $ - $ - $ - $ 39 Ending Balance: Collectively Evaluated $ 54 $ 51 $ 582 $ 4 $ 1 $ - $ 26 $ 718 Loans Receivable: Ending Balance $ 16,355 $ 2,773 $ 65,040 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 88,815 Ending Balance: Individually Evaluated $ 145 $ 14 $ 218 $ - $ - $ - $ - $ 377 Ending Balance: Collectively Evaluated $ 16,210 $ 2,759 $ 64,822 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 88,438 Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Year Ended December 31, 2016 (in thousands) Real Estate Commercial Land One-to-Four Family Construction Multi-Family Consumer Commercial Business Total Allowance for Credit Losses: Beginning Balance $ 48 $ 85 $ 447 $ 9 $ 3 $ - $ - $ 592 Charge-offs - (10 ) (108 ) - - - - (118 ) Recoveries - - 38 - - - - 38 Provision (5 ) 26 151 (1 ) - - 9 180 Ending Balance $ 43 $ 101 $ 528 $ 8 $ 3 $ - $ 9 $ 692 Ending Balance: Individually Evaluated for Impairment $ - $ 2 $ 36 $ - $ - $ - $ - $ 38 Ending Balance: Collectively Evaluated for Impairment $ 43 $ 99 $ 492 $ 8 $ 3 $ - $ 9 $ 654 Loans Receivable: Ending Balance $ 7,234 $ 2,907 $ 59,836 $ 3,475 $ 2,629 $ 285 $ 295 $ 76,661 Ending Balance: Individually Evaluated for Impairment $ - $ 17 $ 501 $ - $ - $ - $ - $ 518 Ending Balance: Collectively Evaluated for Impairment $ 7,234 $ 2,890 $ 59,335 $ 3,475 $ 2,629 $ 285 $ 295 $ 76,143 Credit quality indicators as of September 30, 2017 and December 31, 2016 Pass Special mention Substandard Doubtful Loss The following tables represent the Company's credit exposure by credit quality indicator as of September 30, 2017 and December 31, 2016: Credit Risk Profile by Internally Assigned Grade (in thousands) September 30, 2017 Real Estate Commercial RE Land One-to-Four Family Construction Multi-Family Consumer Commercial Total Pass $ 16,039 $ 2,727 $ 64,549 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 87,962 Special Mention - - - - - - - - Substandard 316 46 491 - - - - 853 Doubtful - - - - - - - - Loss - - - - - - - - $ 16,355 $ 2,773 $ 65,040 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 88,815 December 31, 2016 Real Estate Commercial RE Land One-to-Four Family Construction Multi-Family Consumer Commercial Total Pass $ 7,050 $ 2,852 $ 59,183 $ 3,475 $ 2,629 $ 285 $ 295 $ 75,769 Special Mention - - - - - - - - Substandard 184 55 653 - - - - 892 Doubtful - - - - - - - - Loss - - - - - - - - $ 7,234 $ 2,907 $ 59,836 $ 3,475 $ 2,629 $ 285 $ 295 $ 76,661 The following tables are an aging analysis of loans as of September 30, 2017 and December 31, 2016: Aged Analysis of Past Due Loans Receivable (in thousands) September 30, 2017 Greater 30-89 Than Total Days 90 Days Total Nonaccrual Loans Past Due Past Due Past Due Status Current Receivable Real Estate: Commercial $ 117 $ - $ 117 $ 144 $ 16,094 $ 16,355 Land 49 - 49 15 $ 2,709 2,773 Residential 1,576 - 1,576 218 $ 63,246 65,040 Construction - - - - $ 1,542 1,542 Multi-family - - - - $ 1,682 1,682 Consumer - - - - $ 368 368 Commercial - - - - $ 1,055 1,055 $ 1,742 $ - $ 1,742 $ 377 $ 86,696 $ 88,815 December 31, 2016 Greater 30-89 Than Total Days 90 Days Total Nonaccrual Loans Past Due Past Due Past Due Status Current Receivable Real Estate: Commercial $ 141 $ - $ 141 $ - $ 7,093 $ 7,234 Land 20 - 20 17 2,870 2,907 Residential 1,588 - 1,588 501 57,747 59,836 Construction - - - - 3,475 3,475 Multi-family - - - - 2,629 2,629 Consumer 5 5 - 280 285 Commercial - - - - 295 295 $ 1,754 $ - $ 1,754 $ 518 $ 74,389 $ 76,661 The following tables below present impaired loans disaggregated by class as of and for the nine months ended September 30, 2017 and the year ended December 31, 2016: As Of And For The Nine Months Ended September 30, 2017 Unpaid Allowance for Average Interest (in thousands) Recorded Principal Losses Recorded Income Loans with an allowance recorded: Real estate Commercial $ 145 $ 143 $ 14 143 $ - Land 14 19 2 14 - 1-4 family residential 218 211 23 259 - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Loans with no allowance recorded: Real estate Commercial - - - - - Land - - - - - 1-4 family residential - - - - - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Totals $ 377 $ 373 $ 39 $ 416 $ - As Of And For The Year Ended December 31, 2016 Unpaid Allowance for Loan Average Interest (in thousands) Recorded Investment Principal Balance Losses Allocated Recorded Investment Income Recognized Loans with an allowance recorded: Real estate Commercial $ - $ - $ - $ - $ - Land 17 20 2 18 - 1-4 family residential 501 686 36 538 - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Loans with no allowance recorded: Real estate Commercial - - - - - Land - - - - - 1-4 family residential - - - - - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Totals $ 518 $ 706 $ 38 $ 556 $ - The tables below present modifications disaggregated by class for the nine months ended September 30, 2017 and the year ended December 31, 2016: Troubled Debt Restructuring (in thousands) Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Modifications as of September 30, 2017: Residential - modified amortization 0 $ - $ - Modifications as of December 31, 2016: Residential - modified amortization 4 $ 441 $ 290 None of the 2016 troubled debt restructurings defaulted subsequent to the modification. The Company's troubled debt restructurings are generally due to a modification of terms allowing the customer to make interest-only payments for an amount of time, an extension of the loan term, and/or a reduction in interest rate to obtain a lower payment for the customer. The Company is not committed to lend additional funds to debtors whose loans have been modified.

Fair Value of Financial Stateme

Fair Value of Financial Statements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Statements	Note F - Fair Value of Financial Statements Fair Value Disclosures The Company groups its financial assets and liabilities measured at fair value in three levels. Fair value should be based on the assumptions market participants would use when pricing the asset or liability and establishes a fair value hierarchy that prioritizes the inputs used to develop those assumptions and measure fair value. The hierarchy requires companies to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: · Level 1 - Includes the most reliable sources, and includes quoted prices in active markets for identical assets or liabilities. · Level 2 - Includes observable inputs. Observable inputs include inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates) as well as inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). · Level 3 - Includes unobservable inputs and should be used only when observable inputs are unavailable. Recurring Basis Fair values of investment securities available for sale were primarily measured using information from a third-party pricing service. This pricing service provides information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and reference data from market research publications. The following tables present the balance of assets and liabilities measured on a recurring basis as of September 30, 2017 and December 31, 2016. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a recurring basis. (In thousands) Fair Value Measurement Using Description Fair Quoted Prices in Significant Other Significant September 30, 2017 Mortgage-Backed Securities $ 5,975 $ - $ 5,975 $ - December 31, 2016 Mortgage-Backed Securities $ 7,175 $ - $ 7,175 $ - Nonrecurring Basis The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a non-recurring basis. The fair value of the impaired loans is measured at the fair value of the collateral for collateral-dependent loans. Impaired loans are Level 2 assets measured using appraisals from external parties of the collateral less any prior liens. Repossessed assets are initially recorded at fair value less estimated costs to sell. The fair value of repossessed assets is based on property appraisals and an analysis of similar properties available. As such, the Company records repossessed assets as Level 2. Fair Value Measurement Using (In thousands) Fair Quoted Prices in Significant Other Significant September 30, 2017 Assets Impaired Loans $ 338 $ - $ 338 $ - Repossessed Assets 84 - 84 - Total $ 422 $ - $ 422 $ - December 31, 2016 Assets Impaired Loans $ 480 $ - $ 480 $ - Repossessed Assets 93 - 93 - Total $ 573 $ - $ 573 $ - Fair values of financial instruments In cases where quoted market prices of financial instruments 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 instruments. The fair values of certain financial instruments and all non-financial instruments are not required to be disclosed. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The following methods and assumptions were used by the Company in estimating fair values of financial instruments: Cash, due from banks, federal funds sold and interest-earning deposits with banks - The carrying amount is a reasonable estimate of fair value. Securities - Fair value is based on quoted market price, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Loans Receivable - Fair value is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Cash Value of Life Insurance - The carrying amount approximates its fair value. Deposits - The fair value of demand, savings, NOW and money market accounts is the amount payable on demand at the reporting date. The fair value of fixed-maturity time deposits is estimated using the rates currently offered for deposits of similar remaining maturities. Borrowings - The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings maturing within ninety days approximate their fair values. Fair values of other borrowings are estimated using discounted cash flow analyses based on current incremental borrowing rates for similar types of borrowing arrangements. Commitments to extend credit and standby letters of credit - The fair values of commitments to extend credit and standby letters of credit do not differ significantly from the commitment amount and are therefore omitted from this disclosure. The carrying amounts and estimated fair values of the Company’s financial instruments at September 30, 2017 and December 31, 2016, are as follows: Fair Value Measurement Using (In thousands) Carrying Fair Quoted Prices in Significant Other Significant September 30, 2017 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 8,530 $ 8,530 $ 8,530 $ - $ - Securities-Available for Sale 5,975 5,975 - 5,975 - Securities-Held to Maturity 690 684 - 684 - Other Equity Securities 958 954 - - 954 Cash Value of Life Insurance 2,038 2,038 - 2,038 - Loans Held for Sale 111 111 - 311 - Loans-Net 86,475 86,556 - - 86,556 $ 104,777 $ 104,848 $ 8,530 $ 9,008 $ 87,510 Financial Liabilities: Deposits $ 71,342 $ 72,069 $ - $ - $ 72,069 Borrowed Funds 12,567 12,482 - 12,482 - $ 83,909 $ 84,551 $ - $ 12,482 $ 72,069 Fair Value Measurement Using (In thousands) Carrying Fair Quoted Prices in Significant Other Significant Inputs (Level 3) December 31, 2016 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 8,014 $ 8,014 $ 8,014 $ - $ - Securities-Available for Sale 7,175 7,175 - 7,175 - Securities-Held to Maturity 832 824 - 824 - Other Equity Securities 673 673 - - 673 Cash Value of Life Insurance 2,001 2,001 - 2,001 - Loans-Net 74,659 74,866 - - 74,866 $ 93,354 $ 93,553 $ 8,014 $ 10,000 $ 75,539 Financial Liabilities: Deposits $ 74,251 $ 75,732 $ - $ - $ 75,732 Borrowed Funds 13,274 13,209 - 13,209 - $ 87,525 $ 88,941 $ - $ 13,209 $ 75,732

Change in Corporate Form

Change in Corporate Form	9 Months Ended
	Sep. 30, 2017
Change In Corporate Form [Abstract]
Change in Corporate Form	NOTE G – Change in Corporate Form On July 12, 2017, Heritage Bank of St Tammany (“the Bank”) converted to a federal stock savings and loan association and established a stock holding company, Heritage NOLA Bancorp, Inc, as parent of the Bank. The Bank converted to the stock form of ownership, followed by the issuance of all of the Bank’s outstanding stock to Heritage NOLA Bancorp, Inc. The Bank became the wholly owned subsidiary of the Company, and the Company issued and sold shares of its capital stock pursuant to an independent valuation appraisal of the Bank and the Company. The stock was priced at $10.00 per share. In addition, the Bank’s board of directors adopted an employee stock ownership plan (ESOP) which subscribed for 8% of the common stock sold in the offering. The Conversion was completed on July 12, 2017 and resulted in the issuance of 1,653,125 common shares by the Company. The cost of the Conversion and issuing the capital stock totaled $1.1 million and was deducted from the proceeds of the offering. In accordance with OCC regulations, at the time of the Conversion, the Bank substantially restricted retained earnings by establishing a liquidation account. The liquidation account will be maintained for the benefit of eligible account holders who continue to maintain their accounts at the Bank after the Conversion. The liquidation account will be reduced annually to the extent that eligible holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation account. In the event of a complete liquidation by the Bank, and only in such event, each eligible account holder will be entitled to receive a distribution from the liquidation account in an amount proportionate to the adjusted qualifying account balances then held. The Bank may not pay dividends if those dividends would reduce equity capital below the required liquidation account amount. The Conversion was accounted for as a change in corporate form with the historic basis of the Bank’s assets, liabilities and equity unchanged as a result.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2017
Share-based Arrangements with Employees and Nonemployees [Abstract]
Employee Stock Ownership Plan	NOTE H – Employee Stock Ownership Plan As part of the Company’s stock conversion, shares were purchased by the ESOP with a loan from Heritage NOLA Bancorp, Inc. All employees of the Bank meeting certain tenure requirements are entitled to participate in the ESOP. Compensation expense related to the ESOP was $40,000 for the three month period ended September 30, 2017.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	NOTE I – Subsequent Events On October 31, 2017, the Bank purchased from the FDIC a closed banking facility in Madisonville, Louisiana for $525,000. An application to establish a branch facility at this location has been filed by the Bank with the Office of the Comptroller of the Currency, and the Bank expects to receive approval of this application by January 2018. We anticipate there will be additional costs of preparing and/or renovating this facility to serve as a full-service branch location.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of Heritage NOLA Bancorp, Inc. (the “Company”) were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, comprehensive income, changes in equity and cash flows in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three and nine month periods ended September 30, 2017 are not necessarily indicative of the results which may be expected for the entire year. These statements should be read in conjunction with the Financial Statements and notes thereto for the year ended December 31, 2016 included in the Form S-1 of Heritage NOLA Bancorp, Inc. as filed with the Securities and Exchange Commission (“SEC”). Reference is made to the accounting policies of the Company described in the Notes to the Financial Statements contained in the Form S-1. In preparing the financial statements, the Company is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the Company’s financial condition, results of operations, comprehensive income, changes in shareholders’ equity and cash flows for the interim periods presented. These adjustments are of a normal recurring nature and include appropriate estimated provisions.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Emerging Growth Company Status The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). For as long as the Company is an emerging growth company, it may choose to take advantage of exemptions from various reporting requirements applicable to other public companies. An emerging growth company may elect to use the extended transition period to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies, but must make such election when the company is first required to file a registration statement. The Company has elected to use the extended transition period described above and intends to maintain its emerging growth company status as allowed under the JOBS Act. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The provisions of the update requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In March, 2016 the FASB issued ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in determining revenue recognition as principal versus agent. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing, which provides guidance in accounting for immaterial performance obligations and shipping and handling. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients which provides clarification on assessing the collectability criterion, presentation of sales taxes, measurement date for noncash consideration and completed contracts at transition. This ASU also provides a practical expedient for contract modifications. For an emerging growth company, the amendments in this update are effective for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our 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 Financial Liabilities. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), Conforming Amendments Related to Leases In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments In August 2016, FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. The amendments in this ASU clarify the proper classification for certain cash receipts and cash payments, including clarification on debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, among others. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our Consolidated Financial Statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of earnings per common share were computed based	Nine Months Ended September 30, (in thousands, except per share data) 2017 Numerator: Net income available to common shareholders $ 374 Denominator: Common shares outstanding (Total issued, less unallocated ESOP shares) 1,521 Dilutive stock options - 1,521 Basic (and Diluted) earnings per common share $ 0.25

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of available for sale and held to maturity	September 30, 2017 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: Mortgage-Backed Securities $ 5,933 $ 72 $ (30 ) $ 5,975 Held to Maturity: Mortgage-Backed Securities $ 690 $ 1 $ (7 ) $ 684 December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: Mortgage-Backed Securities $ 7,126 $ 87 $ (38 ) $ 7,175 Held to Maturity: Mortgage-Backed Securities $ 832 $ 1 $ (9 ) $ 824
Schedule of amortized cost and fair value of investment securities	Amortized Fair (in thousands) Cost Value Available for Sale: Less than One Year $ 2 $ 2 After One Year Through Five Years 5 5 After Five Years Through Ten Years 1,400 1,403 After Ten Years 4,526 4,565 $ 5,933 $ 5,975 Held to Maturity: After Five Years Through Ten Years $ 378 $ 379 After Ten Years 312 305 $ 690 $ 684
Schedule of available for sale securities in an unrealized loss position	September 30, 2017 Less Than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for Sale: Mortgage-Backed Securities $ 2,487 $ 11 $ 1,018 $ 19 $ 3,505 $ 30 Held to Maturity: Mortgage-Backed Securities $ - $ - $ 292 $ 7 $ 292 $ 7 December 31, 2016 Less Than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for Sale: Mortgage-Backed Securities $ 2,300 $ 15 $ 1,231 $ 23 $ 3,531 $ 38 Held to Maturity: Mortgage-Backed Securities $ 587 $ 2 $ 218 $ 7 $ 805 $ 9

Credit Quality and Allowance 20

Credit Quality and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of loans receivable	(in thousands) September 30, 2017 December 31, 2016 Real Estate: Secured by one-to four family residential properties Owner-occupied $ 50,543 $ 46,353 Non-owner-occupied 12,019 11,237 Home Equity Lines of Credit 2,478 2,246 Commercial (Nonresidential) Properties 16,355 7,234 Land 2,773 2,907 Construction 1,542 3,475 Multi-family 1,682 2,629 Commercial 1,055 295 Consumer Loans 368 285 Total Loans 88,815 76,661 Less: Net Deferred Loan Fees (453 ) (459 ) Loans in Process (1,130 ) (851 ) Allowance for Loan Losses (757 ) (692 ) Net Loans $ 86,475 $ 74,659
Schedule of allowance for credit losses on financing receivables	Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Nine Months Ended September 30, 2017 (in thousands) Real Estate Commercial Land One-to-Four Construction Multi-Family Consumer Commercial Total Allowance for Credit Losses: Beginning Balance $ 43 $ 101 $ 528 $ 8 $ 3 $ - $ 9 $ 692 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provision 25 (48 ) 77 (4 ) (2 ) - 17 65 Ending Balance $ 68 $ 53 $ 605 $ 4 $ 1 $ - $ 26 $ 757 Ending Balance: Individually Evaluated for Impairment $ 14 $ 2 $ 23 $ - $ - $ - $ - $ 39 Ending Balance: Collectively Evaluated $ 54 $ 51 $ 582 $ 4 $ 1 $ - $ 26 $ 718 Loans Receivable: Ending Balance $ 16,355 $ 2,773 $ 65,040 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 88,815 Ending Balance: Individually Evaluated $ 145 $ 14 $ 218 $ - $ - $ - $ - $ 377 Ending Balance: Collectively Evaluated $ 16,210 $ 2,759 $ 64,822 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 88,438 Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Year Ended December 31, 2016 (in thousands) Real Estate Commercial Land One-to-Four Family Construction Multi-Family Consumer Commercial Business Total Allowance for Credit Losses: Beginning Balance $ 48 $ 85 $ 447 $ 9 $ 3 $ - $ - $ 592 Charge-offs - (10 ) (108 ) - - - - (118 ) Recoveries - - 38 - - - - 38 Provision (5 ) 26 151 (1 ) - - 9 180 Ending Balance $ 43 $ 101 $ 528 $ 8 $ 3 $ - $ 9 $ 692 Ending Balance: Individually Evaluated for Impairment $ - $ 2 $ 36 $ - $ - $ - $ - $ 38 Ending Balance: Collectively Evaluated for Impairment $ 43 $ 99 $ 492 $ 8 $ 3 $ - $ 9 $ 654 Loans Receivable: Ending Balance $ 7,234 $ 2,907 $ 59,836 $ 3,475 $ 2,629 $ 285 $ 295 $ 76,661 Ending Balance: Individually Evaluated for Impairment $ - $ 17 $ 501 $ - $ - $ - $ - $ 518 Ending Balance: Collectively Evaluated for Impairment $ 7,234 $ 2,890 $ 59,335 $ 3,475 $ 2,629 $ 285 $ 295 $ 76,143
Schedule of financing receivable credit quality indicators	Credit Risk Profile by Internally Assigned Grade (in thousands) September 30, 2017 Real Estate Commercial RE Land One-to-Four Family Construction Multi-Family Consumer Commercial Total Pass $ 16,039 $ 2,727 $ 64,549 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 87,962 Special Mention - - - - - - - - Substandard 316 46 491 - - - - 853 Doubtful - - - - - - - - Loss - - - - - - - - $ 16,355 $ 2,773 $ 65,040 $ 1,542 $ 1,682 $ 368 $ 1,055 $ 88,815 December 31, 2016 Real Estate Commercial RE Land One-to-Four Family Construction Multi-Family Consumer Commercial Total Pass $ 7,050 $ 2,852 $ 59,183 $ 3,475 $ 2,629 $ 285 $ 295 $ 75,769 Special Mention - - - - - - - - Substandard 184 55 653 - - - - 892 Doubtful - - - - - - - - Loss - - - - - - - - $ 7,234 $ 2,907 $ 59,836 $ 3,475 $ 2,629 $ 285 $ 295 $ 76,661
Schedule of aging analysis of past due financing receivables	Aged Analysis of Past Due Loans Receivable (in thousands) September 30, 2017 Greater 30-89 Than Total Days 90 Days Total Nonaccrual Loans Past Due Past Due Past Due Status Current Receivable Real Estate: Commercial $ 117 $ - $ 117 $ 144 $ 16,094 $ 16,355 Land 49 - 49 15 $ 2,709 2,773 Residential 1,576 - 1,576 218 $ 63,246 65,040 Construction - - - - $ 1,542 1,542 Multi-family - - - - $ 1,682 1,682 Consumer - - - - $ 368 368 Commercial - - - - $ 1,055 1,055 $ 1,742 $ - $ 1,742 $ 377 $ 86,696 $ 88,815 December 31, 2016 Greater 30-89 Than Total Days 90 Days Total Nonaccrual Loans Past Due Past Due Past Due Status Current Receivable Real Estate: Commercial $ 141 $ - $ 141 $ - $ 7,093 $ 7,234 Land 20 - 20 17 2,870 2,907 Residential 1,588 - 1,588 501 57,747 59,836 Construction - - - - 3,475 3,475 Multi-family - - - - 2,629 2,629 Consumer 5 5 - 280 285 Commercial - - - - 295 295 $ 1,754 $ - $ 1,754 $ 518 $ 74,389 $ 76,661
Schedule of impaired financing receivables	As Of And For The Nine Months Ended September 30, 2017 Unpaid Allowance for Average Interest (in thousands) Recorded Principal Losses Recorded Income Loans with an allowance recorded: Real estate Commercial $ 145 $ 143 $ 14 143 $ - Land 14 19 2 14 - 1-4 family residential 218 211 23 259 - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Loans with no allowance recorded: Real estate Commercial - - - - - Land - - - - - 1-4 family residential - - - - - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Totals $ 377 $ 373 $ 39 $ 416 $ - As Of And For The Year Ended December 31, 2016 Unpaid Allowance for Loan Average Interest (in thousands) Recorded Investment Principal Balance Losses Allocated Recorded Investment Income Recognized Loans with an allowance recorded: Real estate Commercial $ - $ - $ - $ - $ - Land 17 20 2 18 - 1-4 family residential 501 686 36 538 - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Loans with no allowance recorded: Real estate Commercial - - - - - Land - - - - - 1-4 family residential - - - - - Multi-Family - - - - - Construction - - - - - Consumer and Commercial - - - - - Totals $ 518 $ 706 $ 38 $ 556 $ -
Schedule of troubled debt restructurings	Troubled Debt Restructuring (in thousands) Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Modifications as of September 30, 2017: Residential - modified amortization 0 $ - $ - Modifications as of December 31, 2016: Residential - modified amortization 4 $ 441 $ 290

Fair Value of Financial State21

Fair Value of Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	(In thousands) Fair Value Measurement Using Description Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2017 Mortgage-Backed Securities $ 5,975 $ - $ 5,975 $ - December 31, 2016 Mortgage-Backed Securities $ 7,175 $ - $ 7,175 $ -
Schedule of assets and liabilities measured at fair value on a non - recurring basis	Fair Value Measurement Using (In thousands) Fair Quoted Prices in Significant Other Significant September 30, 2017 Assets Impaired Loans $ 338 $ - $ 338 $ - Repossessed Assets 84 - 84 - Total $ 422 $ - $ 422 $ - December 31, 2016 Assets Impaired Loans $ 480 $ - $ 480 $ - Repossessed Assets 93 - 93 - Total $ 573 $ - $ 573 $ -
Schedule of carrying amounts and estimated fair values financial instrument	Fair Value Measurement Using (In thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2017 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 8,530 $ 8,530 $ 8,530 $ - $ - Securities-Available for Sale 5,975 5,975 - 5,975 - Securities-Held to Maturity 690 684 - 684 - Other Equity Securities 958 954 - - 954 Cash Value of Life Insurance 2,038 2,038 - 2,038 - Loans Held for Sale 111 111 - 311 - Loans-Net 86,475 86,556 - - 86,556 $ 104,777 $ 104,848 $ 8,530 $ 9,008 $ 87,510 Financial Liabilities: Deposits $ 71,342 $ 72,069 $ - $ - $ 72,069 Borrowed Funds 12,567 12,482 - 12,482 - $ 83,909 $ 84,551 $ - $ 12,482 $ 72,069 Fair Value Measurement Using (In thousands) Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2016 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 8,014 $ 8,014 $ 8,014 $ - $ - Securities-Available for Sale 7,175 7,175 - 7,175 - Securities-Held to Maturity 832 824 - 824 - Other Equity Securities 673 673 - - 673 Cash Value of Life Insurance 2,001 2,001 - 2,001 - Loans-Net 74,659 74,866 - - 74,866 $ 93,354 $ 93,553 $ 8,014 $ 10,000 $ 75,539 Financial Liabilities: Deposits $ 74,251 $ 75,732 $ - $ - $ 75,732 Borrowed Funds 13,274 13,209 - 13,209 - $ 87,525 $ 88,941 $ - $ 13,209 $ 75,732

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Numerator:
Net income available to common shareholders		$ 374
Denominator:
Common shares outstanding (Total issued, less unallocated ESOP shares)		1,521
Dilutive stock options		0
Number of shares outstanding used in EPS calculation		1,521
Basic (and Diluted) earnings per common share	$ 0.09	$ 0.25

Investment Securities - Amortiz

Investment Securities - Amortized costs and estimated fair values of investment securities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Available for Sale:
Fair Value	$ 5,975	$ 7,175
Mortgage-Backed Securities
Available for Sale:
Amortized Cost	5,933	7,126
Gross Unrealized Gains	72	87
Gross Unrealized (Losses)	(30)	(38)
Fair Value	5,975	7,175
Held to Maturity:
Amortized Cost	690	832
Gross Unrealized Gains	1	1
Gross Unrealized (Losses)	(7)	(9)
Fair Value	$ 684	$ 824

Investment Securities - Investm

Investment Securities - Investment securities by contractual maturity (Details 1) - Mortgage-Backed Securities - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Available for Sale:
Less than One Year, Amortized Cost	$ 2
After One Year Through Five Years, Amortized Cost	5
After Five Years Through Ten Years, Amortized Cost	1,400
After Ten Years, Amortized Cost	4,526
Amortized Cost	5,933
Held to Maturity:
After Five Through Ten Years, Amortized Cost	378
After Ten Years, Amortized Cost	312
Amortized Cost	690	$ 832
Available for Sale:
Less than One Year, Fair Value	2
After One Year Through Five Years, Fair Value	5
After Five Years Through Ten Years, Fair Value	1,403
After Ten Years, Fair Value	4,565
Fair Value	5,975
Held to Maturity:
After Five Years Through Ten Years, Fair Value	379
After Ten Years, Fair Value	305
Fair Value	$ 684	$ 824

Investment Securities - Gross u

Investment Securities - Gross unrealized losses, fair values, and length of time in a continued unrealized loss position (Details 2) - Mortgage-Backed Securities - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Available for Sale:
Less Than 12 Months, Fair Value	$ 2,487	$ 2,300
Less Than 12 Months, Unrealized Loss	11	15
12 Months or Longer, Fair Value	1,018	1,231
12 Months or Longer, Unrealized Loss	19	23
Total, Fair Value	3,505	3,531
Total , Unrealized Loss	30	38
Held to Maturity:
Less Than 12 Months, Fair Value		587
Less Than 12 Months, Unrealized Loss		2
12 Months or Longer, Fair Value	292	218
12 Months or Longer, Unrealized Loss	7	7
Total, Fair Value	292	805
Total, Unrealized Loss	$ 7	$ 9

Credit Quality and Allowance 26

Credit Quality and Allowance for Loan Losses - Loans receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 88,815	$ 76,661
Less: Net Deferred Loan Fees	(453)	(459)
Loans in Process	(1,130)	(851)
Allowance for Loan Losses	(757)	(692)
Net Loans	86,475	74,659
Real Estate | Secured by One-to four family residential properties Owner-occupied
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	50,543	46,353
Real Estate | Secured by One-to four family residential properties Non-owner-occupied
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	12,019	11,237
Real Estate | Secured by One-to four family residential properties Home Equity Lines of Credit
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,478	2,246
Real Estate | Commercial (Nonresidential) Properties
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	16,355	7,234
Real Estate | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,773	2,907
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,542	3,475
Real Estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,682	2,629
Commercial Business
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,055	295
Consumer Loans
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 368	$ 285

Credit Quality and Allowance 27

Credit Quality and Allowance for Loan Losses - Allocation and rollforward of the allowance for loan losses by loan type (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Allowance for Credit Losses:
Beginning Balance			$ 692	$ 592	$ 592
Charge-offs			0		(118)
Recoveries			0		38
Provision	$ 15	$ 15	65	70	180
Ending Balance	757		757		692
Ending Balance: Individually Evaluated for Impairment	39		39		38
Ending Balance: Collectively Evaluated for Impairment	718		718		654
Loans Receivable:
Ending Balance	88,815		88,815		76,661
Ending Balance: Individually Evaluated for Impairment	377		377		518
Ending Balance: Collectively Evaluated for Impairment	88,438		88,438		76,143
Real Estate | Commercial
Allowance for Credit Losses:
Beginning Balance			43	48	48
Charge-offs			0		0
Recoveries			0		0
Provision			25		(5)
Ending Balance	68		68		43
Ending Balance: Individually Evaluated for Impairment	14		14		0
Ending Balance: Collectively Evaluated for Impairment	54		54		43
Loans Receivable:
Ending Balance	16,355		16,355		7,234
Ending Balance: Individually Evaluated for Impairment	145		145		0
Ending Balance: Collectively Evaluated for Impairment	16,210		16,210		7,234
Real Estate | Land
Allowance for Credit Losses:
Beginning Balance			101	85	85
Charge-offs			0		(10)
Recoveries			0		0
Provision			(48)		26
Ending Balance	53		53		101
Ending Balance: Individually Evaluated for Impairment	2		2		2
Ending Balance: Collectively Evaluated for Impairment	51		51		99
Loans Receivable:
Ending Balance	2,773		2,773		2,907
Ending Balance: Individually Evaluated for Impairment	14		14		17
Ending Balance: Collectively Evaluated for Impairment	2,759		2,759		2,890
Real Estate | One-to-Four Family
Allowance for Credit Losses:
Beginning Balance			528	447	447
Charge-offs			0		(108)
Recoveries			0		38
Provision			77		151
Ending Balance	605		605		528
Ending Balance: Individually Evaluated for Impairment	23		23		36
Ending Balance: Collectively Evaluated for Impairment	582		582		492
Loans Receivable:
Ending Balance	65,040		65,040		59,836
Ending Balance: Individually Evaluated for Impairment	218		218		501
Ending Balance: Collectively Evaluated for Impairment	64,822		64,822		59,335
Real Estate | Construction
Allowance for Credit Losses:
Beginning Balance			8	9	9
Charge-offs			0		0
Recoveries			0		0
Provision			(4)		(1)
Ending Balance	4		4		8
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	4		4		8
Loans Receivable:
Ending Balance	1,542		1,542		3,475
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	1,542		1,542		3,475
Real Estate | Multi-family
Allowance for Credit Losses:
Beginning Balance			3	3	3
Charge-offs			0		0
Recoveries			0		0
Provision			(2)		0
Ending Balance	1		1		3
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	1		1		3
Loans Receivable:
Ending Balance	1,682		1,682		2,629
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	1,682		1,682		2,629
Consumer
Allowance for Credit Losses:
Beginning Balance			0	0	0
Charge-offs			0		0
Recoveries			0		0
Provision			0		0
Ending Balance	0		0		0
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	0		0		0
Loans Receivable:
Ending Balance	368		368		285
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	368		368		285
Commercial Business
Allowance for Credit Losses:
Beginning Balance			9	$ 0	0
Charge-offs			0		0
Recoveries			0		0
Provision			17		9
Ending Balance	26		26		9
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	26		26		9
Loans Receivable:
Ending Balance	1,055		1,055		295
Ending Balance: Individually Evaluated for Impairment	0		0		0
Ending Balance: Collectively Evaluated for Impairment	$ 1,055		$ 1,055		$ 295

Credit Quality and Allowance 28

Credit Quality and Allowance for Loan Losses - Credit quality indicators (Details 2) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 88,815	$ 76,661
Pass
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	87,962	75,769
Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Substandard
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	853	892
Real Estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	16,355	7,234
Real Estate | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,773	2,907
Real Estate | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	65,040	59,836
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,542	3,475
Real Estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,682	2,629
Real Estate | Pass | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	16,039	7,050
Real Estate | Pass | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,727	2,852
Real Estate | Pass | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	64,549	59,183
Real Estate | Pass | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,542	3,475
Real Estate | Pass | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,682	2,629
Real Estate | Special Mention | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Special Mention | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Special Mention | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Special Mention | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Special Mention | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Substandard | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	316	184
Real Estate | Substandard | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	46	55
Real Estate | Substandard | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	491	653
Real Estate | Substandard | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Substandard | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Doubtful | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Doubtful | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Doubtful | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Doubtful | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Doubtful | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Loss | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Loss | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Loss | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Loss | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Loss | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	368	285
Consumer | Pass
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	368	285
Consumer | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Consumer | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Consumer | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Consumer | Loss
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial Business
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,055	295
Commercial Business | Pass
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,055	295
Commercial Business | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial Business | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial Business | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial Business | Loss
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 0	$ 0

Credit Quality and Allowance 29

Credit Quality and Allowance for Loan Losses - Aging analysis of loans (Details 3) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,742	$ 1,754
Nonaccrual Status	377	518
Current	86,696	74,389
Total Loans Receivable	88,815	76,661
30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,742	1,754
Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	117	141
Nonaccrual Status	144	0
Current	16,094	7,093
Total Loans Receivable	16,355	7,234
Real Estate | Commercial | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	117	141
Real Estate | Commercial | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	49	20
Nonaccrual Status	15	17
Current	2,709	2,870
Total Loans Receivable	2,773	2,907
Real Estate | Land | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	49	20
Real Estate | Land | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,576	1,588
Nonaccrual Status	218	501
Current	63,246	57,747
Total Loans Receivable	65,040	59,836
Real Estate | Residential | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,576	1,588
Real Estate | Residential | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Nonaccrual Status	0	0
Current	1,542	3,475
Total Loans Receivable	1,542	3,475
Real Estate | Construction | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Construction | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Multi-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Nonaccrual Status	0	0
Current	1,682	2,629
Total Loans Receivable	1,682	2,629
Real Estate | Multi-family | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Multi-family | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	5
Nonaccrual Status	0	0
Current	368	280
Total Loans Receivable	368	285
Consumer | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	5
Consumer | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Nonaccrual Status	0	0
Current	1,055	295
Total Loans Receivable	1,055	295
Commercial | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

Credit Quality and Allowance 30

Credit Quality and Allowance for Loan Losses - Impaired loans disaggregated by class (Details 4) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Loans with an allowance recorded:
Related Allowance	$ 39	$ 38
Total Impaired Loans:
Recorded Investment	377	518
Unpaid Principal Balance	373	706
Related Allowance	39	38
Average Recorded Investment	416	556
Interest Income Recognized	0	0
Real Estate | Commercial
Loans with an allowance recorded:
Recorded Investment	145	0
Unpaid Principal Balance	143	0
Related Allowance	14	0
Average Recorded Investment	143	0
Interest Income Recognized	0	0
Loans with no allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total Impaired Loans:
Related Allowance	14	0
Real Estate | Land
Loans with an allowance recorded:
Recorded Investment	14	17
Unpaid Principal Balance	19	20
Related Allowance	2	2
Average Recorded Investment	14	18
Interest Income Recognized	0	0
Loans with no allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total Impaired Loans:
Related Allowance	2	2
Real Estate | 1-4 family residential
Loans with an allowance recorded:
Recorded Investment	218	501
Unpaid Principal Balance	211	686
Related Allowance	23	36
Average Recorded Investment	259	538
Interest Income Recognized	0	0
Loans with no allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total Impaired Loans:
Related Allowance	23	36
Real Estate | Multi-family
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Loans with no allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total Impaired Loans:
Related Allowance	0	0
Real Estate | Construction
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Loans with no allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total Impaired Loans:
Related Allowance	0	0
Consumer and Commercial
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Loans with no allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total Impaired Loans:
Related Allowance	$ 0	$ 0

Credit Quality and Allowance 31

Credit Quality and Allowance for Loan Losses - Modifications disaggregated by class (Details 5) - Real Estate - Residential $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)Contract	Dec. 31, 2016USD ($)Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	4
Pre-Modification Outstanding Recorded Investment	$ 0	$ 441
Post-Modification Outstanding Recorded Investment	$ 0	$ 290

Fair Value of Financial State32

Fair Value of Financial Statements - Balance of assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 5,975	$ 7,175
Recurring basis | Fair Value | Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,975	7,175
Recurring basis | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Recurring basis | Fair Value | Significant Other Observable Inputs (Level 2) | Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5,975	7,175
Recurring basis | Fair Value | Significant Unobservable Inputs (Level 3) | Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

Fair Value of Financial State33

Fair Value of Financial Statements - Fair value measurement on a non-recurring basis (Details 1) - Nonrecurring Basis - Fair Value - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Impaired Loans	$ 338	$ 480
Repossessed Assets	84	93
Total	422	573
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Impaired Loans	0	0
Repossessed Assets	0	0
Total	0	0
Significant Other Observable Inputs (Level 2)
Assets
Impaired Loans	338	480
Repossessed Assets	84	93
Total	422	573
Significant Unobservable Inputs (Level 3)
Assets
Impaired Loans	0	0
Repossessed Assets	0	0
Total	$ 0	$ 0

Fair Value of Financial State34

Fair Value of Financial Statements - Carrying amounts and estimated fair values of financial instruments (Details 2) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financial Assets:
Loans Held for Sale	$ 111
Carrying Amount
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	8,530	$ 8,014
Securities-Available for Sale	5,975	7,175
Securities-Held to Maturity	690	832
Other Equity Securities	958	673
Cash Value of Life Insurance	2,038	2,001
Loans Held for Sale	111
Loans-Net	86,475	74,659
Financial Assets	104,777	93,354
Financial Liabilities:
Deposits	71,342	74,251
Borrowed Funds	12,567	13,274
Financial Liabilities	83,909	87,525
Fair Value
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	8,530	8,014
Securities-Available for Sale	5,975	7,175
Securities-Held to Maturity	684	824
Other Equity Securities	954	673
Cash Value of Life Insurance	2,038	2,001
Loans Held for Sale	111
Loans-Net	86,556	74,866
Financial Assets	104,848	93,553
Financial Liabilities:
Deposits	72,069	75,732
Borrowed Funds	12,482	13,209
Financial Liabilities	84,551	88,941
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	8,530	8,014
Securities-Available for Sale	0	0
Securities-Held to Maturity	0	0
Other Equity Securities	0	0
Cash Value of Life Insurance	0	0
Loans Held for Sale	0
Loans-Net	0	0
Financial Assets	8,530	8,014
Financial Liabilities:
Deposits	0	0
Borrowed Funds	0	0
Financial Liabilities	0	0
Significant Other Observable Inputs (Level 2) | Fair Value
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	0	0
Securities-Available for Sale	5,975	7,175
Securities-Held to Maturity	684	824
Other Equity Securities	0	0
Cash Value of Life Insurance	2,038	2,001
Loans Held for Sale	311
Loans-Net	0	0
Financial Assets	9,008	10,000
Financial Liabilities:
Deposits	0	0
Borrowed Funds	12,482	13,209
Financial Liabilities	12,482	13,209
Significant Unobservable Inputs (Level 3) | Fair Value
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	0	0
Securities-Available for Sale	0	0
Securities-Held to Maturity	0	0
Other Equity Securities	954	673
Cash Value of Life Insurance	0	0
Loans Held for Sale	0
Loans-Net	86,556	74,866
Financial Assets	87,510	75,539
Financial Liabilities:
Deposits	72,069	75,732
Borrowed Funds	0	0
Financial Liabilities	$ 72,069	$ 75,732

Change in Corporate Form (Detai

Change in Corporate Form (Detail Textuals) $ / shares in Units, $ in Millions	Jul. 12, 2017USD ($)$ / sharesshares
Change In Corporate Form [Line Items]
Stock issued price per share | $ / shares	$ 10
Numbers of shares issued upon bank's mutual to stock conversion | shares	1,653,125
ESOP
Change In Corporate Form [Line Items]
Conversion and issuance cost of capital stock | $	$ 1.1
Percentage of common stock subscribed in offering	8.00%

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Details Textuals)	3 Months Ended
	Sep. 30, 2017USD ($)
Share-based Arrangements with Employees and Nonemployees [Abstract]
Compensation Expense	$ 40,000

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals)	1 Months Ended
	Oct. 31, 2017USD ($)
Subsequent event
Subsequent Event [Line Items]
Closed Banking Facility Purchased From FDIC	$ 525,000