Heritage NOLA Bancorp (HRGG) 10-Q 13 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 05, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Entity Registrant Name	Heritage NOLA Bancorp, Inc.
Document Period End Date	Sep. 30, 2019
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,549,659
Entity Central Index Key	0001700175
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and Due from Banks	$ 1,121	$ 529
Interest Earning Deposits in Banks	2,910	3,886
Total Cash and Cash Equivalents	4,031	4,415
Interest Earning Time Deposits in Banks	6,823	3,586
Securities Available for Sale, at Fair Value	6,710	4,221
Securities Held to Maturity	425	518
Mortgage Loans Held for Sale		580
Loans Receivable, Net of Unearned Income	104,418	97,721
Allowance for Loan Losses	(756)	(768)
Total Loans, Net	103,662	97,533
Premises and Equipment	5,349	5,137
Federal Home Loan Bank Stock	821	802
Bank Owned Life Insurance	2,141	2,102
Foreclosed Real Estate	0	0
Prepaid Expenses and Other Assets	1,252	1,107
Total Assets	131,214	119,421
LIABILITIES AND EQUITY
Interest Bearing Deposits	85,143	72,953
Noninterest Bearing Deposits	4,798	4,344
Total Deposits	89,941	77,297
Borrowed Funds	16,328	16,822
Advances from Borrowers for Taxes and Insurance	607	282
Accrued Expenses and Other Liabilities	1,235	903
Total Liabilities	108,111	95,304
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, 1,561,259 Shares Issued and Outstanding on September 30, 2019	16	17
Additional Paid-in Capital	13,710	14,953
Unallocated common stock held by:
Employee Stock Ownership Plan (ESOP)	(1,217)	(1,217)
Retained Earnings	10,577	10,395
Accumulated Other Comprehensive Income (Loss)	17	(31)
Total Shareholders' Equity	23,103	24,117
Total Liabilities and Shareholders' Equity	$ 131,214	$ 119,421

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
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	1,561,259	1,674,036
Common stock, shares outstanding	1,561,259	1,674,036

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest Income
Loans, including Fees	$ 1,367	$ 1,238	$ 3,892	$ 3,533
Investment Securities	42	29	102	94
Other Interest Earning Assets	97	45	228	123
Total Interest Income	1,506	1,312	4,222	3,750
Interest Expense
Deposits	377	249	942	675
Borrowed Funds	106	68	326	182
Total Interest Expense	483	317	1,268	857
Net Interest Income	1,023	995	2,954	2,893
Provision for Loan Losses				5
Net Interest Income after Provision for Loan Losses	1,023	995	2,954	2,888
Noninterest Income
Gain on Sale of Loans Originated for Sale	43	17	83	33
Loan Servicing Income	65	39	166	116
Other Income	35	29	95	81
Total Noninterest Income	143	85	344	230
Noninterest Expense
Salaries and Employee Benefits	624	546	1,804	1,502
Occupancy and Equipment	114	107	331	302
Data Processing	45	59	133	163
FDIC Insurance and Examination Fees	14	21	55	66
Director Compensation	18	18	54	54
Legal, Accounting and Professional Fees	65	83	211	199
Advertising	30	26	85	75
Telephone and Communications	17	15	51	44
Other	121	114	339	322
Total Noninterest Expense	1,048	989	3,063	2,727
Income Before Income Tax Expense	118	91	235	391
Income Tax Expense	35	18	53	76
Net Income	$ 83	$ 73	$ 182	$ 315
Earnings per share: Basic (in dollars per share)	$ 0.06	$ 0.05	$ 0.12	$ 0.21
Diluted (in dollars per share)	$ 0.06	$ 0.05	$ 0.12	$ 0.21

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 83	$ 73	$ 182	$ 315
Other Comprehensive Income (Loss):
Unrealized Holding Gains (Losses) on Securities Available for Sale	(6)	(10)	61	(95)
Income Tax Effect	1	2	(13)	20
Total Other Comprehensive Income (Loss)	(5)	(8)	48	(75)
Comprehensive Income	$ 78	$ 65	$ 230	$ 240

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid In Capital	Unallocated ESOP Shares	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2017	$ 17	$ 15,440	$ (1,270)	$ 9,977	$ 7	$ 24,171
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation Expense related to restricted shares		9				9
Compensation Expense related to stock options		6				6
Net Income				315		315
Other Comprehensive Income (Loss)					(75)	(75)
Balance at Sep. 30, 2018	17	15,455	(1,270)	10,292	(68)	24,426
Balance at Dec. 31, 2018	17	14,953	(1,217)	10,395	(31)	24,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation Expense related to restricted shares		116				116
Compensation Expense related to stock options		77				77
Stock Shares Repurchased	(1)	(1,436)				(1,437)
Net Income				182		182
Other Comprehensive Income (Loss)					48	48
Balance at Sep. 30, 2019	$ 16	$ 13,710	$ (1,217)	$ 10,577	$ 17	$ 23,103

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Cash Flows from Operating Activities
Net Income	$ 83	$ 73	$ 182	$ 315
Adjustments to Reconcile Net Income (Loss) to Net Cash from Operating Activities
Provision for Loan Losses				5	$ 5
Provision for Depreciation			165	148
Deferred Income Tax Expense (Benefit)			(18)	(11)
Change in Mortgage Servicing Rights			(41)	(10)
(Accretion) Amortization of Premiums and Discounts on Securities			20	27
(Accretion) Amortization of Deferred Loan Origination Fees			19	43
Gain on Sale of Loans Originated for Sale	(43)	(17)	(83)	(33)
Originations of Loans Held for Sale			(5,066)	(1,986)
Loss on disposal of Premise and Equipment				5
Stock dividends on FHLB Stock			(19)	(13)
Compensation expense related to stock benefit plans			193	15
Proceeds from Loans Held for Sale			5,729	2,019
Gain or Loss on Sale of Foreclosed Real Estate				(1)
(Increase) Decrease in Accrued Interest Receivable			(18)	(15)
(Increase) Decrease in Bank Owned Life Insurance			(39)	(38)
(Increase) Decrease in Prepaid Expenses and Other Assets			(81)	25
Increase (Decrease) in Accrued Expenses and Other Liabilities			332	194
Net Cash provided by (used in) Operating Activities			1,275	689
Cash Flows from Investing Activities
Purchases of Securities Available for Sale			(3,258)
Principal Collected on Securities Available for Sale			814	923
Principal Collected on Securities Held to Maturity			89	99
Net Change in Interest-earning Time Deposits at Banks			(3,237)	249
Net (Increase) Decrease in Loans			(6,728)	(5,654)
Purchases of Premises and Equipment			(377)	(1,235)
Proceeds from Sales of Foreclosed Real Estate				85
Net Cash provided by (used in) Investing Activities			(12,697)	(5,533)
Cash Flows from Financing Activities
Net Increase (Decrease) in Deposits			12,644	6,223
Shares Repurchased			(1,437)
Advances from Borrowers for Taxes and Insurance			325	338
Borrowed Funds			8,300	8,750
Repayments of Borrowed Funds			(8,794)	(10,062)
Net Cash provided by (used in) Financing Activities			11,038	5,249
Net Change in Cash and Cash Equivalents			(384)	405
Cash and Cash Equivalents - Beginning of Period			4,415	4,038	4,038
Cash and Cash Equivalents - End of Period	$ 4,031	$ 4,443	4,031	4,443	$ 4,415
Cash paid during the period for:
Interest Paid on Deposits			931	674
Interest Paid on Borrowed Funds			326	176
Income Taxes Paid			$ 53	$ 76

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Note A – Basis of Presentation The accompanying unaudited consolidated financial statements of Herita g e NOLA Bancorp, Inc. and Subsidiary (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, 2019 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, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 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 Annual Report. 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. The consolidated financial statements include Heritage NOLA Bancorp, Inc. and its wholly-owned subsidiary, Heritage Bank of St. Tammany (the “Bank”), together referred to as the Company. Intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications have been made to the 2018 financial information in order to conform to the 2019 financial statement presentation. Such reclassifications had no effect on previously reported net income.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
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 fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. 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. The provisions of the update require equity investments to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment. The update also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. It also eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities, and eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet. ASU No. 2016‑01 requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. It also requires 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. The update requires separate presentation of financial assets and financial liabilities by category and form on the balance sheet or the accompanying notes to the financial statements. In addition, the update clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. The adoption of this ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016‑02, Leases (Topic 842), Conforming Amendments Related to Leases . This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the statement of condition and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. On October 18, 2019, the FASB approved an effective date delay applicable to emerging growth companies until January 2021. The adoption of this ASU is not expected to have a material effect on the Company’s Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The amendments introduce an impairment model that is based on expected credit losses (“ECL”), rather than incurred losses, to estimate credit losses on certain types of financial instruments (ex. loans and held to maturity securities), including certain off-balance sheet financial instruments (ex. commitments to extend credit and standby letters of credit that are not unconditionally cancellable). The ECL should consider historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments, over the contractual term. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. Financial instruments with similar risk characteristics may be grouped together when estimating the ECL. The ASU also amends the current available for sale security impairment model for debt securities whereby credit losses relating to available for sale debt securities should be recorded through an allowance for credit losses. On October 18, 2019, the FASB approved an effective date delay applicable to emerging growth companies until January 2023. The amendments will be applied through a modified retrospective approach, resulting in a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company is currently planning for the implementation of this accounting standard. It is too early to assess the impact this guidance will have on our Consolidated Financial Statements. 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 beginning after December 15, 2019. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our Consolidated Financial Statements. In June 2018, FASB issued ASU No. 2018‑07, “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment ”. The amendments in this ASU expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our Consolidated Financial Statements. In August 2018, FASB issued ASU 2018‑13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement ”. The amendments in this ASU modify the disclosure requirements related to fair value. Certain provisions under ASU 2018‑13 require prospective application, while other provisions require retrospective application to all period presented in the consolidated financial statements upon adoption. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2019, 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.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Note C – 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, 2019 and December 31, 2018 is as follows: September 30, 2019 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: U.S. Government Agency - SBA pools $ 2,441 $ 8 $ (9) $ 2,440 U.S. Agency Mortgage-Backed Securities 4,246 44 (20) 4,270 Total Available for Sale $ 6,687 $ 52 $ (29) $ 6,710 Held to Maturity: U.S. Agency Mortgage-Backed Securities $ 425 $ 1 $ (4) $ 422 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: U.S. Government Agency - SBA pools $ — $ — $ — $ — U.S. Agency Mortgage-Backed Securities 4,260 38 (77) 4,221 Total Available for Sale $ 4,260 $ 38 $ (77) $ 4,221 Held to Maturity: Mortgage-Backed Securities $ 518 $ 1 $ (12) $ 507 There were no securities sold in 2019 or 2018. All mortgage-backed securities held on September 30, 2019 and December 31, 2018 were government-sponsored mortgage-backed securities. The amortized cost and fair value of investment securities at September 30, 2019 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: Within One Year $ — $ — After One Year Through Five Years 129 129 After Five Years Through Ten Years 1,480 1,479 After Ten Years 5,078 5,102 $ 6,687 $ 6,710 Held to Maturity: After Five Years Through Ten Years $ 238 $ 237 After Ten Years 187 185 $ 425 $ 422 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, 2019 and December 31, 2018: September 30, 2019 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Loss Fair Value Loss Fair Value Loss Available for Sale: U.S. Government Agency - SBA pools $ 1,434 $ 9 $ — $ — $ 1,434 $ 9 U.S. Agency Mortgage-Backed Securities 1,634 3 1,258 17 2,892 20 Total Available for Sale $ 3,068 $ 12 $ 1,258 $ 17 $ 4,326 $ 29 Held to Maturity: U.S. Agency Mortgage-Backed Securities $ — $ — $ 352 $ 4 $ 352 $ 4 December 31, 2018 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Loss Fair Value Loss Fair Value Loss Available for Sale: Mortgage-Backed Securities $ 549 $ 3 $ 2,526 $ 74 $ 3,075 $ 77 Held to Maturity: Mortgage-Backed Securities $ — $ — $ 418 $ 12 $ 418 $ 12 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, 2019 and December 31, 2018, 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.

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans Receivable and Allowance for Loan Losses	Note D - Loans Receivable 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, 2019 and December 31, 2018. Loans receivable at September 30, 2019 and December 31, 2018 are summarized as follows: (in thousands) September 30, 2019 December 31, 2018 Real Estate: Secured by one-to four family residential properties Owner-occupied $ 53,977 $ 52,956 Non-owner-occupied 14,536 13,485 Home Equity Lines of Credit 3,790 2,973 Commercial (Nonresidential) Properties 22,627 21,868 Land 2,288 2,211 Construction 4,241 2,947 Multi-family 2,115 1,524 Commercial 2,534 1,964 Consumer Loans 257 354 Total Loans 106,365 100,282 Less: Net Deferred Loan Fees (360) (380) Loans in Process (1,587) (1,601) Allowance for Loan Losses (756) (768) Net Loans $ 103,662 $ 97,533 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. 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, 2019 and the year ended December 31, 2018. 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 Period Ended September 30, 2019 (in thousands) Real Estate One-to-Four Commercial Land Family Construction Multi-Family Consumer Commercial Total Allowance for Credit Losses: Beginning Balance $ 113 $ 23 $ 519 $ 16 $ 5 $ 9 $ 83 $ 768 Charge-offs — — — — — (18) — (18) Recoveries 5 — — — — 1 — 6 Provision (23) (4) (14) 3 1 31 6 — Ending Balance $ 95 $ 19 $ 505 $ 19 $ 6 $ 23 $ 89 $ 756 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 85 $ — $ — $ — $ — $ 85 Ending Balance: Collectively Evaluated for Impairment $ 95 $ 19 $ 420 $ 19 $ 6 $ 23 $ 89 $ 671 Loans Receivable: Ending Balance $ 22,627 $ 2,288 $ 72,303 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 106,365 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 836 $ — $ — $ — $ — $ 836 Ending Balance: Collectively Evaluated for Impairment $ 22,627 $ 2,288 $ 71,467 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 105,529 Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Year Ended December 31, 2018 (in thousands) Real Estate One-to-Four Commercial Land Family Construction Multi-Family Consumer Commercial Total Allowance for Credit Losses: Beginning Balance $ 94 $ 56 $ 545 $ 8 $ 4 $ 1 $ 48 $ 756 Charge-offs (1) — — — — (8) — (9) Recoveries 3 — 13 — — — — 16 Provision 17 (33) (39) 8 1 16 35 5 Ending Balance $ 113 $ 23 $ 519 $ 16 $ 5 $ 9 $ 83 $ 768 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 10 $ — $ — $ — $ — $ 10 Ending Balance: Collectively Evaluated for Impairment $ 113 $ 23 $ 509 $ 16 $ 5 $ 9 $ 83 $ 758 Loans Receivable: Ending Balance $ 21,868 $ 2,211 $ 69,414 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 100,282 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 100 $ — $ — $ — $ — $ 100 Ending Balance: Collectively Evaluated for Impairment $ 21,868 $ 2,211 $ 69,314 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 100,182 Credit quality indicators as of September 30, 2019 and December 31, 2018: Pass - A pass asset is properly approved, documented, collateralized, and performing. It does not reflect an abnormal amount of risk. Special mention - A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Special mention assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Substandard - An asset classified as substandard has a well-defined weakness or weaknesses. A substandard asset is inadequately protected by the current net worth or paying capacity of the obligor or pledged collateral, if any. It is characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful - Assets classified as doubtful have all the weaknesses inherent in those classified as substandard. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions, and values. Loss - Assets classified as loss are considered uncollectible or of such little value that the continuance of the loan or other asset on the books of the Company is not warranted. Some recovery of funds could be possible in the future, but the amount and probability of this recovery are not determinable thus providing little justification for the assets to remain on the books. The following tables represent the Company’s credit exposure by credit quality indicator as of September 30, 2019 and December 31, 2018: Credit Risk Profile by Internally Assigned Grade (in thousands) September 30, 2019 Real Estate Commercial One-to-Four Real Estate Land Family Construction Multi-Family Consumer Commercial Total Pass $ 22,627 $ 2,273 $ 71,116 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 105,163 Special Mention — — — — — — — — Substandard — 15 1,187 — — — — 1,202 Doubtful — — — — — — — — Loss — — — — — — — — $ 22,627 $ 2,288 $ 72,303 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 106,365 December 31, 2018 Real Estate Commercial One-to-Four Real Estate Land Family Construction Multi-Family Consumer Commercial Total Pass $ 21,868 $ 2,189 $ 68,774 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 99,620 Special Mention — — — — — — — — Substandard — 22 640 — — — — 662 Doubtful — — — — — — — — Loss — — — — — — — — $ 21,868 $ 2,211 $ 69,414 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 100,282 The following tables are an aging analysis of loans as of September 30, 2019 and December 31, 2018: Aged Analysis of Past Due Loans Receivable (in thousands) September 30, 2019 Accruing 30-89 90 Days Total Days and Over Total Nonaccrual Loans Past Due Past Due Past Due Current Status Receivable Real Estate: Commercial $ — $ — $ — $ 22,627 $ — $ 22,627 Land 51 — 51 2,237 — 2,288 Residential 2,135 — 2,135 69,332 836 72,303 Construction — — — 4,241 — 4,241 Multi-family — — — 2,115 — 2,115 Consumer 44 — 44 213 — 257 Commercial — — — 2,534 — 2,534 $ 2,230 $ — $ 2,230 $ 103,299 $ 836 $ 106,365 Aged Analysis of Past Due Loans Receivable (in thousands) December 31, 2018 Accruing 30-89 90 Days Total Days and Over Total Nonaccrual Loans Past Due Past Due Past Due Current Status Receivable Real Estate: Commercial $ 222 $ — $ 222 $ 21,646 $ — $ 21,868 Land 15 — 15 2,196 — 2,211 Residential 2,116 — 2,116 67,198 100 69,414 Construction — — — 2,947 — 2,947 Multi-family — — — 1,524 — 1,524 Consumer 66 — 66 288 — 354 Commercial — — — 1,964 — 1,964 $ 2,419 $ — $ 2,419 $ 97,763 $ 100 $ 100,282 The following tables below present impaired loans disaggregated by class as of and for the three months ended September 30, 2019 and the year ended December 31, 2018: Impaired Loans (in thousands) As Of And For The Three Months Ended September 30, 2019 Allowance Unpaid for Loan Average Interest Recorded Principal Losses Recorded Income Investment Balance Allocated Investment Recognized Loans with an allowance recorded: Real estate Commercial $ — $ — $ — $ — $ — Land — — — — — 1-4 family residential 836 836 85 845 — 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 $ 836 $ 836 $ 85 $ 845 $ — Impaired Loans (in thousands) As Of And For The Year Ended December 31, 2018 Allowance Unpaid for Loan Average Interest Recorded Principal Losses Recorded Income Investment Balance Allocated Investment Recognized Loans with an allowance recorded: Real estate Commercial $ — $ — $ — $ — $ — Land — — — — — 1-4 family residential 100 100 10 99 — 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 $ 100 $ 100 $ 10 $ 99 $ — Troubled Debt Restructuring 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. Troubled Debt Restructuring (in thousands) Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Loans Investment Investment Modifications as of September 30, 2019: Residential - modified amortization 2 $ 725 $ 678 Modifications as of December 31, 2018: Residential - modified amortization — $ — $ — Prior loan modifications have been performing in compliance with their modified terms.

Fair Value of Financial Stateme

Fair Value of Financial Statements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Statements	Note E - 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, 2019 and December 31, 2018. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a recurring basis. Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (In thousands) Fair Identical Assets Observable Inputs Inputs Description Value (Level 1) (Level 2) (Level 3) September 30, 2019 U.S. Government Agency - SBA pools $ 2,440 $ $ 2,440 $ U.S. Agency Mortgage-Backed Securities 4,270 4,270 Total Investment Securities $ 6,710 $ — $ 6,710 $ — December 31, 2018 U.S. Government Agency - SBA pools $ — $ — $ — $ — U.S. Agency Mortgage-Backed Securities 4,221 — 4,221 — Total Investment Securities $ 4,221 $ — $ 4,221 $ — 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 Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Fair Identical Assets Inputs Inputs (In thousands) Value (Level 1) (Level 2) (Level 3) September 30, 2019 Assets Impaired Loans $ 751 $ — $ 751 $ — Repossessed Assets — — — — Total $ 751 $ — $ 751 $ — December 31, 2018 Assets Impaired Loans $ 90 $ — $ 90 $ — Repossessed Assets — — — — Total $ 90 $ — $ 90 $ — 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, 2019 and December 31, 2018, are as follows: Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Carrying Fair Identical Assets Observable Inputs Inputs (In thousands) Amount Value (Level 1) (Level 2) (Level 3) September 30, 2019 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 10,854 $ 10,854 $ 10,854 $ — $ — Securities-Available for Sale 6,710 6,710 — 6,710 — Securities-Held to Maturity 425 422 — 422 — Other Equity Securities 821 821 — — 821 Cash Value of Life Insurance 2,141 2,141 — 2,141 — Loans Held for Sale — — — — — Loans Held -Net 103,662 104,970 — — 104,970 $ 124,613 $ 125,918 $ 10,854 $ 9,273 $ 105,791 Financial Liabilities: Deposits $ 89,941 $ 91,227 $ — $ — $ 91,227 Borrowed Funds 16,328 16,416 — 16,416 — $ 106,269 $ 107,643 $ — $ 16,416 $ 91,227 Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Carrying Fair Identical Assets Observable Inputs Inputs (In thousands) Amount Value (Level 1) (Level 2) (Level 3) December 31, 2018 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 8,001 $ 8,001 $ 8,001 $ — $ — Securities-Available for Sale 4,221 4,221 — 4,221 — Securities-Held to Maturity 518 507 — 507 — Other Equity Securities 802 802 — — 802 Cash Value of Life Insurance 2,102 2,102 — 2,102 — Loans Held for Sale 580 580 — 580 — Loans-Net 97,533 98,841 — — 98,841 $ 113,757 $ 115,054 $ 8,001 $ 7,410 $ 99,643 Financial Liabilities: Deposits $ 77,297 $ 76,754 $ — $ — $ 76,754 Borrowed Funds 16,822 16,677 — 16,677 — $ 94,119 $ 93,431 $ — $ 16,677 $ 76,754

Change in Corporate Structure

Change in Corporate Structure	9 Months Ended
	Sep. 30, 2019
Change In Corporate Form [Abstract]
Change in Corporate Structure	NOTE F – Change in Corporate Form On July 12, 2017, Heritage Bank of St. Tammany (the “Bank”) converted to the stock form of ownership, and issued all of its stock to Heritage NOLA Bancorp, Inc., (the “Company”). 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 stock offering 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.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	NOTE G – 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. Earnings per common share were computed as follows: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share data) 2019 2019 Numerator: Net income available to common shareholders $ 83 182 Denominator: Weighted average common shares outstanding 1,598,975 1,635,020 Less: Average unallocated ESOP shares 121,670 121,670 Weighted average shares 1,477,305 1,513,350 Effect of dilutive securities: Restrictive Stock 12,692 9,958 Stock Options — — Weighted average common shares outstanding - assuming dilution 1,489,997 1,523,308 Basic earnings per common share $ 0.06 $ 0.12 Diluted earnings per common share $ 0.06 $ 0.12

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2019
Heritage NOLA Bancorp Inc Employee Stock Ownership Plan [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Share Based Compensation 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 requirements are entitled to participate in the ESOP. Compensation expense related to the ESOP for the three and Nine months periods ended September 30, 2019 was $28,000 and $76,000, respectively.

Equity Incentive Plan

Equity Incentive Plan	9 Months Ended
	Sep. 30, 2019
Heritage NOLA Bancorp Inc Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Plan	NOTE I – Equity Incentive Plan In August 2018, the Company’s stockholders authorized the adoption of the 2018 Heritage NOLA Bancorp, Inc. Equity Incentive Plan (the “Plan”). No more than 231,437 shares of the Company’s common stock may be issued under the Plan, of which a maximum of 165,312 may be issued pursuant to the exercise of stock options and 66,125 may be issued pursuant to restricted stock awards, restricted stock units and unrestricted share awards. Stock options awarded to employees may be incentive stock options or non-qualified stock options. The shares that may be issued may be authorized but unissued shares or treasury shares. The Plan permits the grant of incentive awards in the form of options, stock appreciation rights, restricted share and share unit awards, and performance share awards. The Plan contains limits on certain types of awards to individual participants. Awards may vest or become exercisable only upon the achievement of performance measures or based solely on the passage of time after award. Stock options and restricted stock awards provide for accelerated vesting upon death, disability or if there is an involuntary termination of service following a change in control (as defined in the Plan). On August 16, 2018, the Company made grants of restricted shares and stock options for 16,530 and 41,325 shares, respectively, to non-employee members of the Board of Directors. The awards vest over a five-year period and the stock options have a ten-year period to expiration. Each option has an exercise price of $12.48, as determined on the grant date. On September 18, 2018, the Company made grants of restricted shares and stock options for 49,581 and 104,500 shares, respectively, to certain members of management and staff. The awards vest over either a five- or seven-year period and the stock options have a ten-year period to expiration. Each option has an exercise price of $12.45, as determined on the grant date. Stock Options The table below represents the stock option activity for the period shown: Weighted Average Options Exercise Price Options outstanding at January 1, 2019 145,825 $ 12.46 Granted — — Exercised — — Forfeited — — Expired — — Options outstanding at September 30, 2019 145,825 $ 12.46 As of September 30, 2019, the Company had $435,000 of unrecognized compensation expense related to stock options, having recognized $77,000 of compensation expense for the nine month period ended September 30, 2019. The cost of stock options will be amortized in monthly installments over the five-year and seven-year vesting periods. The aggregate grant date fair value of the stock options granted in 2018 was $544,000. The options outstanding at September 30, 2019, were granted on August 16, 2018 and September 18, 2018. There are 27,537 options currently exercisable. The fair value of the Company’s stock options granted in 2018 were $3.69 and $3.75 for the options granted on August 16, 2018 and September 18, 2018, respectively, and they were determined using the Black-Scholes option pricing formula. The following assumptions were used in the formula: Stock Options Stock Options Granted Granted August 16, 2018 September 18, 2018 Expected volatility 12.44 % 11.94 % Risk-free interest rate 2.87 % 3.05 % Expected dividend yield — % — % Expected life (in years) Exercise price for the stock options $ 12.48 $ 12.45 Expected volatility - Based on the historical volatility of share price for the Company. Risk-free interest rate - Based on the U.S. Treasury yield curve and expected life of the options at the time of grant. Dividend yield - Heritage NOLA Bancorp, Inc. does not anticipate a quarterly dividend per share. Expected life - Based on the average of the vesting period and the ten year contractual term of the stock option plan. Exercise price for the stock options - Based on the closing price of the Company’s stock on the date of grant. Restricted Shares Restricted shares are accounted for as fixed grants using the fair value of the Company’s stock at the time of the grant. Unvested restricted shares may not be disposed of or transferred during the vesting period. The table below presents the restricted stock award activity for the period shown: Weighted Average Restricted Fair Value at Stock Awards Grant Date Non-vested at January 1, 2019 66,111 $ 12.46 Granted — — Vested (12,419) 12.46 Forfeited — — Non-vested at September 30, 2019 53,692 $ 12.46 As of September 30, 2019, the Company had $660,000 of unrecognized compensation expense related to restricted shares, having recognized $116,000 of compensation expense for the Nine month period ending September 30, 2019. The cost of the restricted shares will be amortized in monthly installments over the five and seven-year vesting periods.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of Herita g e NOLA Bancorp, Inc. and Subsidiary (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, 2019 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, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 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 Annual Report. 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. The consolidated financial statements include Heritage NOLA Bancorp, Inc. and its wholly-owned subsidiary, Heritage Bank of St. Tammany (the “Bank”), together referred to as the Company. Intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications have been made to the 2018 financial information in order to conform to the 2019 financial statement presentation. Such reclassifications had no effect on previously reported net income.
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 fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. 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. The provisions of the update require equity investments to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment. The update also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. It also eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities, and eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet. ASU No. 2016‑01 requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. It also requires 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. The update requires separate presentation of financial assets and financial liabilities by category and form on the balance sheet or the accompanying notes to the financial statements. In addition, the update clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. The adoption of this ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016‑02, Leases (Topic 842), Conforming Amendments Related to Leases . This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the statement of condition and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. On October 18, 2019, the FASB approved an effective date delay applicable to emerging growth companies until January 2021. The adoption of this ASU is not expected to have a material effect on the Company’s Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The amendments introduce an impairment model that is based on expected credit losses (“ECL”), rather than incurred losses, to estimate credit losses on certain types of financial instruments (ex. loans and held to maturity securities), including certain off-balance sheet financial instruments (ex. commitments to extend credit and standby letters of credit that are not unconditionally cancellable). The ECL should consider historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments, over the contractual term. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. Financial instruments with similar risk characteristics may be grouped together when estimating the ECL. The ASU also amends the current available for sale security impairment model for debt securities whereby credit losses relating to available for sale debt securities should be recorded through an allowance for credit losses. On October 18, 2019, the FASB approved an effective date delay applicable to emerging growth companies until January 2023. The amendments will be applied through a modified retrospective approach, resulting in a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company is currently planning for the implementation of this accounting standard. It is too early to assess the impact this guidance will have on our Consolidated Financial Statements. 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 beginning after December 15, 2019. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our Consolidated Financial Statements. In June 2018, FASB issued ASU No. 2018‑07, “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment ”. The amendments in this ASU expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company is currently assessing the amendment but does not anticipate it will have a material impact on our Consolidated Financial Statements. In August 2018, FASB issued ASU 2018‑13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement ”. The amendments in this ASU modify the disclosure requirements related to fair value. Certain provisions under ASU 2018‑13 require prospective application, while other provisions require retrospective application to all period presented in the consolidated financial statements upon adoption. For an emerging growth company, the amendments in this update are effective for fiscal years beginning after December 15, 2019, 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.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost and fair value of investment securities	September 30, 2019 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: U.S. Government Agency - SBA pools $ 2,441 $ 8 $ (9) $ 2,440 U.S. Agency Mortgage-Backed Securities 4,246 44 (20) 4,270 Total Available for Sale $ 6,687 $ 52 $ (29) $ 6,710 Held to Maturity: U.S. Agency Mortgage-Backed Securities $ 425 $ 1 $ (4) $ 422 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair (in thousands) Cost Gains (Losses) Value Available for Sale: U.S. Government Agency - SBA pools $ — $ — $ — $ — U.S. Agency Mortgage-Backed Securities 4,260 38 (77) 4,221 Total Available for Sale $ 4,260 $ 38 $ (77) $ 4,221 Held to Maturity: Mortgage-Backed Securities $ 518 $ 1 $ (12) $ 507
Schedule of contractual maturity of investment securities	Amortized Fair (in thousands) Cost Value Available for Sale: Within One Year $ — $ — After One Year Through Five Years 129 129 After Five Years Through Ten Years 1,480 1,479 After Ten Years 5,078 5,102 $ 6,687 $ 6,710 Held to Maturity: After Five Years Through Ten Years $ 238 $ 237 After Ten Years 187 185 $ 425 $ 422
Schedule of unrealized loss position of investment securities	September 30, 2019 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Loss Fair Value Loss Fair Value Loss Available for Sale: U.S. Government Agency - SBA pools $ 1,434 $ 9 $ — $ — $ 1,434 $ 9 U.S. Agency Mortgage-Backed Securities 1,634 3 1,258 17 2,892 20 Total Available for Sale $ 3,068 $ 12 $ 1,258 $ 17 $ 4,326 $ 29 Held to Maturity: U.S. Agency Mortgage-Backed Securities $ — $ — $ 352 $ 4 $ 352 $ 4 December 31, 2018 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Loss Fair Value Loss Fair Value Loss Available for Sale: Mortgage-Backed Securities $ 549 $ 3 $ 2,526 $ 74 $ 3,075 $ 77 Held to Maturity: Mortgage-Backed Securities $ — $ — $ 418 $ 12 $ 418 $ 12

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of loans receivable	(in thousands) September 30, 2019 December 31, 2018 Real Estate: Secured by one-to four family residential properties Owner-occupied $ 53,977 $ 52,956 Non-owner-occupied 14,536 13,485 Home Equity Lines of Credit 3,790 2,973 Commercial (Nonresidential) Properties 22,627 21,868 Land 2,288 2,211 Construction 4,241 2,947 Multi-family 2,115 1,524 Commercial 2,534 1,964 Consumer Loans 257 354 Total Loans 106,365 100,282 Less: Net Deferred Loan Fees (360) (380) Loans in Process (1,587) (1,601) Allowance for Loan Losses (756) (768) Net Loans $ 103,662 $ 97,533
Schedule of allowance for credit losses on financing receivables	Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Period Ended September 30, 2019 (in thousands) Real Estate One-to-Four Commercial Land Family Construction Multi-Family Consumer Commercial Total Allowance for Credit Losses: Beginning Balance $ 113 $ 23 $ 519 $ 16 $ 5 $ 9 $ 83 $ 768 Charge-offs — — — — — (18) — (18) Recoveries 5 — — — — 1 — 6 Provision (23) (4) (14) 3 1 31 6 — Ending Balance $ 95 $ 19 $ 505 $ 19 $ 6 $ 23 $ 89 $ 756 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 85 $ — $ — $ — $ — $ 85 Ending Balance: Collectively Evaluated for Impairment $ 95 $ 19 $ 420 $ 19 $ 6 $ 23 $ 89 $ 671 Loans Receivable: Ending Balance $ 22,627 $ 2,288 $ 72,303 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 106,365 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 836 $ — $ — $ — $ — $ 836 Ending Balance: Collectively Evaluated for Impairment $ 22,627 $ 2,288 $ 71,467 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 105,529 Allowance for Credit Losses and Recorded Investment in Loans Receivable For the Year Ended December 31, 2018 (in thousands) Real Estate One-to-Four Commercial Land Family Construction Multi-Family Consumer Commercial Total Allowance for Credit Losses: Beginning Balance $ 94 $ 56 $ 545 $ 8 $ 4 $ 1 $ 48 $ 756 Charge-offs (1) — — — — (8) — (9) Recoveries 3 — 13 — — — — 16 Provision 17 (33) (39) 8 1 16 35 5 Ending Balance $ 113 $ 23 $ 519 $ 16 $ 5 $ 9 $ 83 $ 768 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 10 $ — $ — $ — $ — $ 10 Ending Balance: Collectively Evaluated for Impairment $ 113 $ 23 $ 509 $ 16 $ 5 $ 9 $ 83 $ 758 Loans Receivable: Ending Balance $ 21,868 $ 2,211 $ 69,414 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 100,282 Ending Balance: Individually Evaluated for Impairment $ — $ — $ 100 $ — $ — $ — $ — $ 100 Ending Balance: Collectively Evaluated for Impairment $ 21,868 $ 2,211 $ 69,314 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 100,182
Schedule of credit risk profile by internally assigned grade	Credit Risk Profile by Internally Assigned Grade (in thousands) September 30, 2019 Real Estate Commercial One-to-Four Real Estate Land Family Construction Multi-Family Consumer Commercial Total Pass $ 22,627 $ 2,273 $ 71,116 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 105,163 Special Mention — — — — — — — — Substandard — 15 1,187 — — — — 1,202 Doubtful — — — — — — — — Loss — — — — — — — — $ 22,627 $ 2,288 $ 72,303 $ 4,241 $ 2,115 $ 257 $ 2,534 $ 106,365 December 31, 2018 Real Estate Commercial One-to-Four Real Estate Land Family Construction Multi-Family Consumer Commercial Total Pass $ 21,868 $ 2,189 $ 68,774 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 99,620 Special Mention — — — — — — — — Substandard — 22 640 — — — — 662 Doubtful — — — — — — — — Loss — — — — — — — — $ 21,868 $ 2,211 $ 69,414 $ 2,947 $ 1,524 $ 354 $ 1,964 $ 100,282
Schedule of aged analysis of past due loans receivables	September 30, 2019 Accruing 30-89 90 Days Total Days and Over Total Nonaccrual Loans Past Due Past Due Past Due Current Status Receivable Real Estate: Commercial $ — $ — $ — $ 22,627 $ — $ 22,627 Land 51 — 51 2,237 — 2,288 Residential 2,135 — 2,135 69,332 836 72,303 Construction — — — 4,241 — 4,241 Multi-family — — — 2,115 — 2,115 Consumer 44 — 44 213 — 257 Commercial — — — 2,534 — 2,534 $ 2,230 $ — $ 2,230 $ 103,299 $ 836 $ 106,365 Aged Analysis of Past Due Loans Receivable (in thousands) December 31, 2018 Accruing 30-89 90 Days Total Days and Over Total Nonaccrual Loans Past Due Past Due Past Due Current Status Receivable Real Estate: Commercial $ 222 $ — $ 222 $ 21,646 $ — $ 21,868 Land 15 — 15 2,196 — 2,211 Residential 2,116 — 2,116 67,198 100 69,414 Construction — — — 2,947 — 2,947 Multi-family — — — 1,524 — 1,524 Consumer 66 — 66 288 — 354 Commercial — — — 1,964 — 1,964 $ 2,419 $ — $ 2,419 $ 97,763 $ 100 $ 100,282
Schedule of impaired loans	Impaired Loans (in thousands) As Of And For The Three Months Ended September 30, 2019 Allowance Unpaid for Loan Average Interest Recorded Principal Losses Recorded Income Investment Balance Allocated Investment Recognized Loans with an allowance recorded: Real estate Commercial $ — $ — $ — $ — $ — Land — — — — — 1-4 family residential 836 836 85 845 — 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 $ 836 $ 836 $ 85 $ 845 $ — Impaired Loans (in thousands) As Of And For The Year Ended December 31, 2018 Allowance Unpaid for Loan Average Interest Recorded Principal Losses Recorded Income Investment Balance Allocated Investment Recognized Loans with an allowance recorded: Real estate Commercial $ — $ — $ — $ — $ — Land — — — — — 1-4 family residential 100 100 10 99 — 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 $ 100 $ 100 $ 10 $ 99 $ —
Schedule of troubled debt restructuring	Troubled Debt Restructuring (in thousands) Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Loans Investment Investment Modifications as of September 30, 2019: Residential - modified amortization 2 $ 725 $ 678 Modifications as of December 31, 2018: Residential - modified amortization — $ — $ —

Fair Value of Financial State_2

Fair Value of Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (In thousands) Fair Identical Assets Observable Inputs Inputs Description Value (Level 1) (Level 2) (Level 3) September 30, 2019 U.S. Government Agency - SBA pools $ 2,440 $ $ 2,440 $ U.S. Agency Mortgage-Backed Securities 4,270 4,270 Total Investment Securities $ 6,710 $ — $ 6,710 $ — December 31, 2018 U.S. Government Agency - SBA pools $ — $ — $ — $ — U.S. Agency Mortgage-Backed Securities 4,221 — 4,221 — Total Investment Securities $ 4,221 $ — $ 4,221 $ —
Schedule of assets and liabilities measured at fair value on a non - recurring basis	Fair Value Measurement Using Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Fair Identical Assets Inputs Inputs (In thousands) Value (Level 1) (Level 2) (Level 3) September 30, 2019 Assets Impaired Loans $ 751 $ — $ 751 $ — Repossessed Assets — — — — Total $ 751 $ — $ 751 $ — December 31, 2018 Assets Impaired Loans $ 90 $ — $ 90 $ — Repossessed Assets — — — — Total $ 90 $ — $ 90 $ —
Schedule of carrying amounts and estimated fair values financial instruments	Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Carrying Fair Identical Assets Observable Inputs Inputs (In thousands) Amount Value (Level 1) (Level 2) (Level 3) September 30, 2019 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 10,854 $ 10,854 $ 10,854 $ — $ — Securities-Available for Sale 6,710 6,710 — 6,710 — Securities-Held to Maturity 425 422 — 422 — Other Equity Securities 821 821 — — 821 Cash Value of Life Insurance 2,141 2,141 — 2,141 — Loans Held for Sale — — — — — Loans Held -Net 103,662 104,970 — — 104,970 $ 124,613 $ 125,918 $ 10,854 $ 9,273 $ 105,791 Financial Liabilities: Deposits $ 89,941 $ 91,227 $ — $ — $ 91,227 Borrowed Funds 16,328 16,416 — 16,416 — $ 106,269 $ 107,643 $ — $ 16,416 $ 91,227 Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Carrying Fair Identical Assets Observable Inputs Inputs (In thousands) Amount Value (Level 1) (Level 2) (Level 3) December 31, 2018 Financial Assets: Cash, Short-Term Investments and Federal Funds Sold $ 8,001 $ 8,001 $ 8,001 $ — $ — Securities-Available for Sale 4,221 4,221 — 4,221 — Securities-Held to Maturity 518 507 — 507 — Other Equity Securities 802 802 — — 802 Cash Value of Life Insurance 2,102 2,102 — 2,102 — Loans Held for Sale 580 580 — 580 — Loans-Net 97,533 98,841 — — 98,841 $ 113,757 $ 115,054 $ 8,001 $ 7,410 $ 99,643 Financial Liabilities: Deposits $ 77,297 $ 76,754 $ — $ — $ 76,754 Borrowed Funds 16,822 16,677 — 16,677 — $ 94,119 $ 93,431 $ — $ 16,677 $ 76,754

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per common share	Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share data) 2019 2019 Numerator: Net income available to common shareholders $ 83 182 Denominator: Weighted average common shares outstanding 1,598,975 1,635,020 Less: Average unallocated ESOP shares 121,670 121,670 Weighted average shares 1,477,305 1,513,350 Effect of dilutive securities: Restrictive Stock 12,692 9,958 Stock Options — — Weighted average common shares outstanding - assuming dilution 1,489,997 1,523,308 Basic earnings per common share $ 0.06 $ 0.12 Diluted earnings per common share $ 0.06 $ 0.12

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Schedule of stock option activity	Weighted Average Options Exercise Price Options outstanding at January 1, 2019 145,825 $ 12.46 Granted — — Exercised — — Forfeited — — Expired — — Options outstanding at September 30, 2019 145,825 $ 12.46
Schedule of stock option fair value assumptions	Stock Options Stock Options Granted Granted August 16, 2018 September 18, 2018 Expected volatility 12.44 % 11.94 % Risk-free interest rate 2.87 % 3.05 % Expected dividend yield — % — % Expected life (in years) Exercise price for the stock options $ 12.48 $ 12.45
Schedule of restricted share activity	Weighted Average Restricted Fair Value at Stock Awards Grant Date Non-vested at January 1, 2019 66,111 $ 12.46 Granted — — Vested (12,419) 12.46 Forfeited — — Non-vested at September 30, 2019 53,692 $ 12.46

Investment Securities (Amortize

Investment Securities (Amortized cost and fair value of available for sale investment securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 6,687	$ 4,260
Gross Unrealized Gains	52	38
Gross Unrealized (Losses)	(29)	(77)
Fair Value	6,710	4,221
U.S. Government Agency - SBA pools
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,441
Gross Unrealized Gains	8
Gross Unrealized (Losses)	(9)
Fair Value	2,440
Mortgage-Backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,246	4,260
Gross Unrealized Gains	44	38
Gross Unrealized (Losses)	(20)	(77)
Fair Value	$ 4,270	$ 4,221

Investment Securities (Amorti_2

Investment Securities (Amortized cost and fair value of held to maturity investment securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 425	$ 518
Fair Value	422
Mortgage-Backed Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	425	518
Gross Unrealized Gains	1	1
Gross Unrealized (Losses)	(4)	(12)
Fair Value	$ 422	$ 507

Investment Securities (Schedule

Investment Securities (Schedule of contractual maturity of available for sale investment securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available for Sale: Amortized Cost
After One Year Through Five Years	$ 129
After Five Years Through Ten Years	1,480
After Ten Years	5,078
Amortized Cost	6,687	$ 4,260
Available for Sale: Fair Value
After One Year Through Five Years	129
After Five Years Through Ten Years	1,479
After Ten Years	5,102
Fair Value	$ 6,710	$ 4,221

Investment Securities (Schedu_2

Investment Securities (Schedule of contractual maturity of held to maturity investment securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Held to Maturity: Amortized Cost
After Five Years Through Ten Years	$ 238
After Ten Years	187
Amortized Cost	425	$ 518
Held to Maturity: Fair Value
After Five Years Through Ten Years	237
After Ten Years	185
Fair Value	$ 422

Investment Securities (Schedu_3

Investment Securities (Schedule of unrealized loss position of available for sale investment securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available-for-sale, Fair Value:
Less Than 12 Months, Fair Value	$ 3,068
12 Months or Longer, Fair Value	1,258
Total, Fair Value	4,326
Available-for-sale, Unrealized Loss:
Less Than 12 Months, Unrealized Loss	12
12 Months or Longer, Unrealized Loss	17
Total, Unrealized Loss	29
U.S. Government Agency - SBA pools
Available-for-sale, Fair Value:
Less Than 12 Months, Fair Value	1,434
Total, Fair Value	1,434
Available-for-sale, Unrealized Loss:
Less Than 12 Months, Unrealized Loss	9
Total, Unrealized Loss	9
Mortgage-Backed Securities
Available-for-sale, Fair Value:
Less Than 12 Months, Fair Value	1,634	$ 549
12 Months or Longer, Fair Value	1,258	2,526
Total, Fair Value	2,892	3,075
Available-for-sale, Unrealized Loss:
Less Than 12 Months, Unrealized Loss	3	3
12 Months or Longer, Unrealized Loss	17	74
Total, Unrealized Loss	$ 20	$ 77

Investment Securities (Schedu_4

Investment Securities (Schedule of unrealized loss position of held to maturity investment securities) (Details) - Mortgage-Backed Securities - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Held-to-maturity, Fair Value:
Less Than 12 Months, Fair Value	$ 0	$ 0
12 Months or Longer, Fair Value	352	418
Total, Fair Value	352	418
Held-to-maturity, Unrealized Loss:
Less Than 12 Months, Unrealized Loss	0	0
12 Months or Longer, Unrealized Loss	4	12
Total, Unrealized Loss	$ 4	$ 12

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Loan Losses (Schedule of loans receivable) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 106,365	$ 100,282
Less: Net Deferred Loan Fees	(360)	(380)
Loans in Process	(1,587)	(1,601)
Allowance for Loan Losses	(756)	(768)	$ (756)
Net Loans	103,662	97,533
Real Estate | Secured by One-to four family residential properties Owner-occupied
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	53,977	52,956
Real Estate | Secured by One-to four family residential properties Non-owner-occupied
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	14,536	13,485
Real Estate | Secured by One-to four family residential properties Home Equity Lines of Credit
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	3,790	2,973
Real Estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	22,627	21,868
Allowance for Loan Losses	(95)	(113)	(94)
Real Estate | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,288	2,211
Allowance for Loan Losses	(19)	(23)	(56)
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	4,241	2,947
Allowance for Loan Losses	(19)	(16)	(8)
Real Estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,115	1,524
Allowance for Loan Losses	(6)	(5)	(4)
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,534	1,964
Allowance for Loan Losses	(89)	(83)	(48)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	257	354
Allowance for Loan Losses	$ (23)	$ (9)	$ (1)

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Loan Losses (Schedule of allowance for credit losses on financing receivables) (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Allowance for Credit Losses:
Beginning Balance	$ 768	$ 756	$ 756
Charge-offs	(18)		(9)
Recoveries	6		16
Provision		5	5
Ending Balance	756		768
Ending Balance: Individually Evaluated for Impairment	85		10
Ending Balance: Collectively Evaluated for Impairment	671		758
Loans Receivable:
Ending Balance	106,365		100,282
Ending Balance: Individually Evaluated for Impairment	836		100
Ending Balance: Collectively Evaluated for Impairment	105,529		100,182
Real Estate | Commercial
Allowance for Credit Losses:
Beginning Balance	113	94	94
Charge-offs	0		(1)
Recoveries	5		3
Provision	(23)		17
Ending Balance	95		113
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	95		113
Loans Receivable:
Ending Balance	22,627		21,868
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	22,627		21,868
Real Estate | Land
Allowance for Credit Losses:
Beginning Balance	23	56	56
Charge-offs	0		0
Recoveries	0		0
Provision	(4)		(33)
Ending Balance	19		23
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	19		23
Loans Receivable:
Ending Balance	2,288		2,211
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	2,288		2,211
Real Estate | One-to-Four Family
Allowance for Credit Losses:
Beginning Balance	519	545	545
Charge-offs	0		0
Recoveries	0		13
Provision	(14)		(39)
Ending Balance	505		519
Ending Balance: Individually Evaluated for Impairment	85		10
Ending Balance: Collectively Evaluated for Impairment	420		509
Loans Receivable:
Ending Balance	72,303		69,414
Ending Balance: Individually Evaluated for Impairment	836		100
Ending Balance: Collectively Evaluated for Impairment	71,467		69,314
Real Estate | Construction
Allowance for Credit Losses:
Beginning Balance	16	8	8
Charge-offs	0		0
Recoveries	0		0
Provision	3		8
Ending Balance	19		16
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	19		16
Loans Receivable:
Ending Balance	4,241		2,947
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	4,241		2,947
Real Estate | Multi-family
Allowance for Credit Losses:
Beginning Balance	5	4	4
Charge-offs	0		0
Recoveries	0		0
Provision	1		1
Ending Balance	6		5
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	6		5
Loans Receivable:
Ending Balance	2,115		1,524
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	2,115		1,524
Consumer
Allowance for Credit Losses:
Beginning Balance	9	1	1
Charge-offs	(18)		(8)
Recoveries	1		0
Provision	31		16
Ending Balance	23		9
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	23		9
Loans Receivable:
Ending Balance	257		354
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	257		354
Commercial
Allowance for Credit Losses:
Beginning Balance	83	$ 48	48
Charge-offs	0		0
Recoveries	0		0
Provision	6		35
Ending Balance	89		83
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	89		83
Loans Receivable:
Ending Balance	2,534		1,964
Ending Balance: Individually Evaluated for Impairment	0		0
Ending Balance: Collectively Evaluated for Impairment	$ 2,534		$ 1,964

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Loan Losses (Schedule of credit risk profile by internally assigned grade) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 106,365	$ 100,282
Pass
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	105,163	99,620
Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Substandard
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,202	662
Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Loss
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Real Estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	22,627	21,868
Real Estate | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,288	2,211
Real Estate | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	72,303	69,414
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	4,241	2,947
Real Estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,115	1,524
Real Estate | Pass | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	22,627	21,868
Real Estate | Pass | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,273	2,189
Real Estate | Pass | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	71,116	68,774
Real Estate | Pass | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	4,241	2,947
Real Estate | Pass | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,115	1,524
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	0	0
Real Estate | Substandard | Land
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	15	22
Real Estate | Substandard | One-to-Four Family
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	1,187	640
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	257	354
Consumer | Pass
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	257	354
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
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,534	1,964
Commercial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	2,534	1,964
Commercial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	0	0
Commercial | Loss
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 0	$ 0

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Loan Losses (Schedule of aged analysis of past due loans receivables) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2,230	$ 2,419
Current	103,299	97,763
Nonaccrual Status	836	100
Total Loans Receivable	106,365	100,282
30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,230	2,419
90 Days and Over Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		0
Real Estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	222
Current	22,627	21,646
Nonaccrual Status	0	0
Total Loans Receivable	22,627	21,868
Real Estate | Commercial | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	222
Real Estate | Commercial | 90 Days and Over 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	51	15
Current	2,237	2,196
Nonaccrual Status	0	0
Total Loans Receivable	2,288	2,211
Real Estate | Land | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	51	15
Real Estate | Land | 90 Days and Over Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | 1-4 family residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,135	2,116
Current	69,332	67,198
Nonaccrual Status	836	100
Total Loans Receivable	72,303	69,414
Real Estate | 1-4 family residential | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,135	2,116
Real Estate | 1-4 family residential | 90 Days and Over Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		0
Real Estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	4,241	2,947
Nonaccrual Status	0	0
Total Loans Receivable	4,241	2,947
Real Estate | Construction | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate | Construction | 90 Days and Over 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
Current	2,115	1,524
Nonaccrual Status	0	0
Total Loans Receivable	2,115	1,524
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 | 90 Days and Over 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	44	66
Current	213	288
Nonaccrual Status	0	0
Total Loans Receivable	257	354
Consumer | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	44	66
Consumer | 90 Days and Over 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
Current	2,534	1,964
Nonaccrual Status	0	0
Total Loans Receivable	2,534	1,964
Commercial | 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial | 90 Days and Over Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Loan Losses (Schedule of impaired loans) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Loans with an allowance recorded:
Allowance for Loan Losses Allocated	$ 85	$ 10
Total Impaired Loans:
Recorded Investment	836	100
Unpaid Principal Balance	836	100
Allowance for Loan Losses Allocated	85	10
Average Recorded Investment	845	99
Interest Income Recognized	0	0
Real Estate
Loans with an allowance recorded:
Recorded Investment		0
Unpaid Principal Balance		0
Average Recorded Investment		0
Interest Income Recognized		0
Real Estate | Commercial
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Allowance for Loan Losses Allocated	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:
Allowance for Loan Losses Allocated	0	0
Real Estate | Land
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Allowance for Loan Losses Allocated	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:
Allowance for Loan Losses Allocated	0	0
Real Estate | 1-4 family residential
Loans with an allowance recorded:
Recorded Investment	836	100
Unpaid Principal Balance	836	100
Allowance for Loan Losses Allocated	85	10
Average Recorded Investment	845	99
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:
Allowance for Loan Losses Allocated	85	10
Real Estate | Multi-family
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Allowance for Loan Losses Allocated	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:
Allowance for Loan Losses Allocated	0	0
Real Estate | Construction
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Allowance for Loan Losses Allocated	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:
Allowance for Loan Losses Allocated	0	0
Consumer and Commercial
Loans with an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Allowance for Loan Losses Allocated	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:
Allowance for Loan Losses Allocated	$ 0	$ 0

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Loan Losses (Schedule of troubled debt restructuring) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)loan	Dec. 31, 2018USD ($)loan
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Number of Loans | loan	2	0
Pre- Modification Outstanding Recorded Investment	$ 725	$ 0
Post-Modification Outstanding Recorded Investment	$ 678	$ 0

Fair Value of Financial State_3

Fair Value of Financial Statements (Schedule of assets and liabilities measured at fair value on a recurring basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 6,710	$ 4,221
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,710	4,221
Recurring basis | U.S. Government Agency - SBA pools
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,440	0
Recurring basis | Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,270	4,221
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Government Agency - SBA pools
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Recurring basis | 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 | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,710	4,221
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. Government Agency - SBA pools
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,440	0
Recurring basis | Significant Other Observable Inputs (Level 2) | Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,270	4,221
Recurring basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. Government Agency - SBA pools
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Recurring basis | 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 State_4

Fair Value of Financial Statements (Schedule of assets and liabilities measured at fair value on a non - recurring basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Total	$ 10,854	$ 8,001
Significant Other Observable Inputs (Level 2)
Assets
Total	9,273	7,410
Significant Unobservable Inputs (Level 3)
Assets
Total	105,791	99,643
Nonrecurring Basis
Assets
Impaired Loans	751	90
Repossessed Assets	0	0
Total	751	90
Nonrecurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Impaired Loans	0	0
Repossessed Assets	0	0
Total	0	0
Nonrecurring Basis | Significant Other Observable Inputs (Level 2)
Assets
Impaired Loans	751	90
Repossessed Assets	0	0
Total	751	90
Nonrecurring Basis | Significant Unobservable Inputs (Level 3)
Assets
Impaired Loans	0	0
Repossessed Assets	0	0
Total	$ 0	$ 0

Fair Value of Financial State_5

Fair Value of Financial Statements (Schedule of carrying amounts and estimated fair values financial instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Carrying Amount
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	$ 10,854	$ 8,001
Securities-Available for Sale	6,710	4,221
Securities-Held to Maturity	425	518
Other Equity Securities	821	802
Cash Value of Life Insurance	2,141	2,102
Loans Held for Sale		580
Loans-Net	103,662	97,533
Total	124,613	113,757
Financial Liabilities:
Deposits	89,941	77,297
Borrowed Funds	16,328	16,822
Financial Liabilities	106,269	94,119
Fair Value
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	10,854	8,001
Securities-Available for Sale	6,710	4,221
Securities-Held to Maturity	422	507
Other Equity Securities	821	802
Cash Value of Life Insurance	2,141	2,102
Loans Held for Sale		580
Loans-Net	104,970	98,841
Total	125,918	115,054
Financial Liabilities:
Deposits	91,227	76,754
Borrowed Funds	16,416	16,677
Financial Liabilities	107,643	93,431
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	10,854	8,001
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	0
Loans-Net	0	0
Total	10,854	8,001
Financial Liabilities:
Deposits	0	0
Borrowed Funds	0	0
Financial Liabilities	0	0
Significant Other Observable Inputs (Level 2)
Financial Assets:
Cash, Short-Term Investments and Federal Funds Sold	0	0
Securities-Available for Sale	6,710	4,221
Securities-Held to Maturity	422	507
Other Equity Securities	0	0
Cash Value of Life Insurance	2,141	2,102
Loans Held for Sale	0	580
Loans-Net	0	0
Total	9,273	7,410
Financial Liabilities:
Deposits	0	0
Borrowed Funds	16,416	16,677
Financial Liabilities	16,416	16,677
Significant Unobservable Inputs (Level 3)
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	821	802
Cash Value of Life Insurance	0	0
Loans Held for Sale	0	0
Loans-Net	104,970	98,841
Total	105,791	99,643
Financial Liabilities:
Deposits	91,227	76,754
Borrowed Funds	0	0
Financial Liabilities	$ 91,227	$ 76,754

Change in Corporate Structure (

Change in Corporate Structure (Details) $ / shares in Units, $ in Millions	Jul. 12, 2017USD ($)$ / sharesshares
Change In Corporate Form [Line Items]
Stock issued price per share on mutual-to-stock conversion | $ / 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%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income available to common shareholders	$ 83		$ 182
Denominator:
Weighted average common shares outstanding	1,598,975		1,635,020
Less: Average unallocated ESOP shares	121,670		121,670
Weighted average shares	1,477,305		1,513,350
Effect of dilutive securities:
Restrictive Stock	12,692		9,958
Stock Options	0		0
Weighted average common shares outstanding - assuming dilution	1,489,997		1,523,308
Basic earnings per common share (in dollars per share)	$ 0.06	$ 0.05	$ 0.12	$ 0.21
Diluted earnings per common share (in dollars per share)	$ 0.06	$ 0.05	$ 0.12	$ 0.21

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Share-based Arrangements with Employees and Nonemployees [Abstract]
Compensation expense related to the ESOP	$ 28,000	$ 76,000

Equity Incentive Plan (Schedule

Equity Incentive Plan (Schedule of stock option activity) (Details) - Stock option	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at January 1, 2019 | shares	145,825
Granted | shares	0
Exercised | shares	0
Forfeited | shares	0
Expired | shares	0
Options outstanding at September 30, 2019 | shares	145,825
Weighted Average Exercise Price
Options outstanding at January 1, 2019 | $ / shares	$ 12.46
Granted | $ / shares	0
Exercised | $ / shares	0
Forfeited | $ / shares	0
Expired | $ / shares	0
Options outstanding at September 30, 2019 | $ / shares	$ 12.46

Equity Incentive Plan (Schedu_2

Equity Incentive Plan (Schedule of stock option fair value assumptions) (Details) - Stock option	9 Months Ended
	Sep. 30, 2019$ / shares
August 16, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	12.44%
Risk-free interest rate	2.87%
Expected dividend yield	0.00%
Expected life (in years)	10 years
Exercise price for the stock options	$ 12.48
September 18, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	11.94%
Risk-free interest rate	3.05%
Expected dividend yield	0.00%
Expected life (in years)	10 years
Exercise price for the stock options	$ 12.45

Equity Incentive Plan (Schedu_3

Equity Incentive Plan (Schedule of restricted share activity) (Details) - Restricted Stock Awards	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Restricted Stock Awards
Non-vested at January 1, 2019 | shares	66,111
Granted | shares	0
Vested | shares	(12,419)
Forfeited | shares	0
Non-vested at September 30, 2019 | shares	53,692
Weighted Average Fair Value at Grant Date
Non-vested at January 1, 2019 | $ / shares	$ 12.46
Granted | $ / shares	0
Vested | $ / shares	12.46
Forfeited | $ / shares	0
Non-vested at September 30, 2019 | $ / shares	$ 12.46

Equity Incentive Plan (Narrativ

Equity Incentive Plan (Narrative) (Details) - USD ($)	Sep. 18, 2018	Aug. 16, 2018	Sep. 18, 2018	Aug. 16, 2018	Sep. 30, 2019	Aug. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under equity incentive plan						231,437
Management and staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of expiration period	10 years
Exercise price of each option	$ 12.45
Management and staff | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period	7 years
Management and staff | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period	5 years
Members of Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period		5 years
Term of expiration period		10 years
Exercise price of each option		$ 12.48
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense under restricted stock award					$ 660,000
Amount of recognized of share based compensation expense					$ 116,000
Number of restricted shares granted					0
Restricted Stock Awards | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period					7 years
Restricted Stock Awards | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period					5 years
Restricted Stock Awards | Management and staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted shares granted	49,581
Restricted Stock Awards | Members of Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted shares granted		16,530
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under equity incentive plan						165,312
Exercise price of each option					$ 0
Unrecognized compensation expense under stock options					$ 435,000
Amount of recognized of share based compensation expense					77,000
Amount of granted fair value					$ 544,000
Number of stock options exercisable					27,537
Fair value of number of share granted			$ 3.75	$ 3.69
Number of stock options granted					0
Stock option | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period					7 years
Stock option | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award vesting period					5 years
Stock option | Management and staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted	104,500
Stock option | Members of Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted		41,325
Restricted stock awards, restricted stock units and unrestricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under equity incentive plan						66,125