SSB Bancorp (SSBP) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 13, 2020
Cover [Abstract]
Entity Registrant Name	SSB Bancorp, Inc.
Entity Central Index Key	0001716188
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,279,191
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 7,708,313	$ 10,610,445
Interest-bearing deposits with other financial institutions	28,455,956	11,270,343
Cash and cash equivalents	36,164,269	21,880,788
Certificates of deposit	3,955,000	2,465,000
Securities available for sale	7,475,676	9,849,599
Securities held to maturity (fair value of $2,422, and $3,932, respectively)	2,374	3,879
Loans	167,382,846	157,295,376
Allowance for loan losses	(1,521,026)	(1,183,261)
Net loans	165,861,820	156,112,115
Accrued interest receivable	1,132,240	673,026
Federal Home Loan Bank stock, at cost	3,849,200	2,924,600
Premises and equipment, net	4,210,761	4,234,676
Bank-owned life insurance	3,317,083	3,249,430
Deferred tax asset, net	251,407	296,955
Other assets	1,134,609	941,669
TOTAL ASSETS	227,354,439	202,631,737
Deposits:
Noninterest-bearing demand	12,459,130	5,519,219
Interest-bearing demand	30,744,537	18,218,407
Money market	36,951,284	30,129,370
Savings	1,911,716	1,314,513
Time	80,731,928	93,839,220
Total deposits	162,798,595	149,020,729
Federal Home Loan Bank advances	24,250,000	31,374,500
Paycheck Protection Program Liquidity Facility advances	17,292,786
Advances by borrowers for taxes and insurance	206,674	712,189
Accrued interest payable	288,725	331,133
Other liabilities	317,305	309,988
TOTAL LIABILITIES	205,154,085	181,748,539
STOCKHOLDERS' EQUITY
Preferred Stock: $0.01 par value per share: 5,000,000 shares authorized and no shares issued or outstanding
Common Stock: 20,000,000 shares authorized and 2,276,891 shares issued and outstanding at $0.01 par value	22,769	22,769
Paid-in capital	8,740,925	8,707,184
Retained earnings	14,030,864	12,951,846
Unearned Employee Stock Ownership Plan (ESOP)	(760,131)	(793,180)
Accumulated other comprehensive income (loss)	165,927	(5,421)
TOTAL STOCKHOLDERS' EQUITY	22,200,354	20,883,198
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 227,354,439	$ 202,631,737

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Fair value of held-to-maturity securities	$ 2,422	$ 3,932
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	2,276,891	2,276,891
Common stock, shares outstanding	2,276,891	2,276,891
Common stock, par value	$ 0.01	$ 0.01

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
INTEREST INCOME
Loans, including fees	$ 1,955,900	$ 1,927,847	$ 5,871,635	$ 5,599,418
Interest-bearing deposits with other financial institutions	41,465	64,691	187,839	225,805
Certificates of deposit	25,260	18,795	70,681	29,993
Investment securities:
Taxable	84,363	88,971	249,355	284,799
Exempt from federal income tax	3,389	6,880	12,165	22,389
Total interest income	2,110,377	2,107,184	6,391,675	6,162,404
INTEREST EXPENSE
Deposits	598,911	738,586	1,952,918	2,155,630
Federal Home Loan Bank advances and other bank obligations	189,969	225,762	604,214	647,510
Total interest expense	788,880	964,348	2,557,132	2,803,140
NET INTEREST INCOME	1,321,497	1,142,836	3,834,543	3,359,264
Provision for loan losses	99,999	53,000	340,299	148,500
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	1,221,498	1,089,836	3,494,244	3,210,764
NONINTEREST INCOME
Securities gains, net			35,567	50,593
Gain on sale of loans	629,200	85,485	1,409,595	221,946
Loan servicing fees	69,098	42,485	164,211	122,162
Earnings on bank-owned life insurance	22,838	16,549	67,652	49,112
Other	22,854	13,862	54,402	45,409
Total noninterest income	743,990	158,381	1,731,427	489,222
NONINTEREST EXPENSE
Salaries and employee benefits	676,328	518,544	1,858,570	1,579,202
Occupancy	87,067	94,440	316,965	294,278
Professional fees	151,694	167,427	453,826	430,712
Federal deposit insurance	45,000	44,500	133,000	153,500
Data processing	119,427	119,227	320,925	326,123
Director fees	35,995	33,194	99,583	97,142
Contributions and donations	14,775	16,750	42,075	53,469
Other	189,434	133,963	547,115	399,295
Total noninterest expense	1,319,720	1,128,045	3,772,059	3,333,721
Income before income taxes	645,768	120,172	1,453,612	366,265
Provision for income taxes	169,716	30,619	374,594	59,429
NET INCOME	$ 476,052	$ 89,553	$ 1,079,018	$ 306,836
EARNINGS PER COMMON SHARE
Basic	$ 0.22	$ 0.04	$ 0.50	$ 0.14
Diluted	$ 0.22	$ 0.04	$ 0.50	$ 0.14
AVERAGE COMMON SHARES OUTSTANDING
Basic	2,176,919	2,167,659	2,174,400	2,166,221
Diluted	2,176,919	2,167,659	2,174,400	2,166,442
DIVIDENDS DECLARED PER COMMON SHARE
COMPREHENSIVE INCOME	$ 507,261	$ 49,448	$ 1,250,366	$ 394,363

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 476,052	$ 89,553	$ 1,079,018	$ 306,836
Other comprehensive income (loss):
Net change in unrealized gain (loss) on available-for-sale securities	39,505	(50,766)	252,463	161,387
Income tax effect	(8,296)	10,661	(53,017)	(33,891)
Reclassification adjustment for net securities (gains) losses recognized in income			(35,567)	(50,593)
Income tax effect included in provision for income taxes			7,469	10,624
Other comprehensive income (loss), net of tax	31,209	(40,105)	171,348	87,527
Total comprehensive income	$ 507,261	$ 49,448	$ 1,250,366	$ 394,363

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Unearned Employee Stock Ownership Plan [Member]	Accumulated Other Comprehensive (Gain) Loss [Member]	Total
Balance at Dec. 31, 2018	$ 22,483	$ 8,692,971	$ 12,515,501	$ (837,245)	$ (74,623)	$ 20,319,087
Net income			436,345			436,345
Other comprehensive income					69,202	69,202
Refund on offering expenses		1,005				1,005
Stock compensation plan	286	20,875				21,161
Amortization of ESOP		(7,667)		44,065		36,398
Balance at Dec. 31, 2019	22,769	8,707,184	12,951,846	(793,180)	(5,421)	20,883,198
Net income			1,079,018			1,079,018
Other comprehensive income					171,348	171,348
Stock compensation plan		43,050				43,050
Amortization of ESOP		(9,309)		33,049		23,740
Balance at Sep. 30, 2020	$ 22,769	$ 8,740,925	$ 14,030,864	$ (760,131)	$ 165,927	$ 22,200,354

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
OPERATING ACTIVITIES
Net income	$ 476,052	$ 89,553	$ 1,079,018	$ 306,836	$ 436,345
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	99,999	53,000	340,299	148,500
Depreciation			178,488	127,543
Net amortization of investment securities			82,023	30,163
Loss (gain) on sale of portfolio loans			(85,758)	12,178
Origination of loans held for sale			(38,676,995)	(8,340,950)
Proceeds from sale of loans			40,086,590	8,575,074
Gain on sale of loans			(1,409,595)	(234,124)
Gain on other real estate owned				(380)
Amortization (accretion) of net deferred loan origination costs			(27,171)	52,832
Gain on sale of investments			(35,567)	(50,593)
Increase in accrued interest receivable			(459,214)	(36,602)
Increase (decrease) in accrued interest payable			(42,408)	31,055
Stock compensation expense			43,050	9,662
Amortization of ESOP			23,740	27,827
Increase in bank owned life insurance			(67,653)	(49,112)
Other, net			(234,978)	255,282
Net cash provided by operating activities			793,869	865,191
INVESTING ACTIVITIES
Purchase of certificates of deposit			(1,979,000)	(2,217,000)
Redemption of certificates of deposit			489,000	348,000
Investment securities available for sale:
Purchases			(2,596,548)	(3,582,107)
Proceeds from sales			1,044,000	2,943,675
Proceeds from principal repayments, calls, and maturities			4,096,911	1,303,279
Investment securities held to maturity:
Proceeds from principal repayments, calls, and maturities			1,505	1,878
Redemption of Federal Home Loan Bank stock			610,800	168,200
Purchase of Federal Home Loan Bank stock			(1,535,400)	(362,500)
Purchases of loans			(8,903,507)	(2,388,950)
Decrease (increase) in loans receivable, net			(6,876,509)	(2,072,356)
Proceeds from sale of portfolio loans			5,802,941	3,569,527
Proceeds from sale of other real estate owned			44,397	60,312
Net cash (used in) investing activities			(9,951,025)	(2,293,807)
FINANCING ACTIVITIES
Increase in deposits, net			13,777,866	11,920,071
Decrease in advances by borrowers for taxes and insurance			(505,515)	(292,971)
Proceeds from PPPLF advances			17,307,882
Repayment of PPPLF advances			(15,096)
Refund on offering expenses				1,005
Repayment of Federal Home Loan Bank advances			(7,124,500)
Net cash provided by financing activities			23,440,637	11,628,105
Increase in cash and cash equivalents			14,283,481	10,199,489
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD			21,880,788	9,034,070	9,034,070
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 36,164,269	$ 19,233,559	36,164,269	19,233,559	$ 21,880,788
Cash paid during the year for:
Interest			2,514,724	2,772,085
Income taxes			256,000
Noncash investing activities:
Loans held for investment transferred to loans held for sale			$ 5,717,183	$ 3,581,705

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION SSB Bancorp, Inc. SSB Bancorp, Inc. (the “Company”) was incorporated on August 17, 2017 to serve as the subsidiary stock holding company for SSB Bank upon the reorganization of SSB Bank into a mutual holding company structure (the “Reorganization”). The Reorganization was completed effective January 24, 2018, with SSB Bank becoming the wholly-owned subsidiary of SSB Bancorp, Inc., and SSB Bancorp, Inc. becoming the majority-owned subsidiary of SSB Bancorp, MHC. In connection with the Reorganization, the Company sold 1,011,712 shares of common stock at an offering price of $10 per share. The Company’s stock began being quoted for listing on the OTC Pink Market on January 25, 2018, under the symbol “SSBP”. Also, in connection with the Reorganization, SSB Bank established an employee stock ownership plan (the “ESOP”), which purchased 88,131 shares of the Company’s common stock at a price of $10 per share. In the Reorganization, the Company also issued 1,236,538 shares of its common stock to SSB Bancorp, MHC. SSB Bank SSB Bank (the “Bank”) provides a variety of financial services to individuals and corporate customers through its offices in Pittsburgh, Pennsylvania. The Bank’s primary deposit products are passbook savings accounts, money market accounts, and certificates of deposit. Its primary lending products are commercial mortgage loan and single-family residential loans. The Bank is subject to regulation and supervision by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking and Securities. The interim consolidated financial statements at September 30, 2020, and for the three and nine months ended September 30, 2020 and 2019, are unaudited and reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Such adjustments are the only adjustments reflected in the accompanying interim financial statements. The results of operations for the three and nine months ended September 30, 2020, are not necessarily indicative of the results to be achieved for the remainder of the year ending December 31, 2020, or any other period. The financial statements at December 31, 2019, are derived from the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Balance Sheet and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. For further information, refer to the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The consolidated financial statements include the accounts of SSB Bancorp, Inc. and the Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.

Recent Accounting Standards

Recent Accounting Standards	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standards	2. RECENT ACCOUNTING STANDARDS On April 5, 2012, the Jumpstart Our Business Startups Act (the “JOBS Act”) was signed into law. The JOBS Act contains provisions that among other things, reduce certain reporting requirements for qualifying public companies and define an “emerging growth company.” As an emerging growth company, the Company may delay adoption of new or revised financial accounting standards until such date that the standards are required to be adopted by non-issuer companies. If such standards would not apply to non-issuer companies, no deferral would be applicable. We have elected to take advantage of the benefits of extended transition periods. Accordingly, our consolidated financial statements may not be comparable to those of public companies that adopt the new or revised financial accounting standards as of an earlier date. The effective dates of the following recent accounting standards reflect those that relate to non-issuer companies. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). On January 1, 2019, the Company adopted ASU 2014-09 Revenue from Contracts with Customers Revenue Recognition On December 31, 2019, the Company adopted ASU No. 2016-02 “Leases (Topic 842)” and subsequent amendments thereto, which requires the Company to recognize most leases onto the balance sheet. The Company adopted the standard under a modified retrospective approach as of the date of adoption and elected to apply several of the available practical expedients, including: ● Carry over of historical lease determination and lease classification conclusions ● Carry over of historical initial direct cost balances for existing leases ● Accounting for lease and non-lease components in contracts in which the Company is a lessee as a single lease component Adoption of the leasing standard resulted in the recognition of operating right-of-use assets of $4,957 and operating lease liabilities of $4,957 as of September 30, 2020. These amounts were determined based on the present value of remaining minimum lease payments, discounted using the Company’s incremental borrowing rate as of the date of adoption. There was no material impact to the timing of expense or income recognition in the Company’s Consolidated Income Statement. Prior periods were not restated and continue to be presented under legacy GAAP. Disclosures about the Company’s leasing activities are presented in Note 16 – Leases

Securities Available for Sale

Securities Available for Sale	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Securities Available for Sale	3. SECURITIES AVAILABLE FOR SALE The amortized cost, gross unrealized gains and losses, and fair values of securities available for sale are as follows: September 30, 2020 (unaudited) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 2,231,569 $ 6,110 $ (6,662 ) $ 2,231,017 Obligations of state and political subdivisions 1,254,735 38,580 - 1,293,315 Corporate bonds 3,779,740 171,604 - 3,951,344 Total $ 7,266,044 $ 216,294 $ (6,662 ) $ 7,475,676 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 5,303,817 $ 19,894 $ (42,383 ) $ 5,281,328 Obligations of state and political subdivisions 1,363,535 2,174 (4 ) 1,365,705 Corporate bonds 3,189,510 24,963 (11,907 ) 3,202,566 Total $ 9,856,862 $ 47,031 $ (54,294 ) $ 9,849,599 The amortized cost and fair value of investment securities available for sale by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities provide for periodic payments of principal and interest and have contractual maturities ranging from less than 1 year to 30 years. Due to expected repayment terms being significantly less than the underlying mortgage pool contractual maturities, estimated lives of these securities could be significantly shorter. September 30, 2020 (unaudited) Amortized Fair Cost Value Due within one year or less $ 100,008 100,169 Due after one year through five years 1,839,162 1,886,613 Due after five years through ten years 3,125,461 3,287,985 Due after ten years 2,201,413 2,200,909 Total $ 7,266,044 $ 7,475,676 There were no sales of investment securities in the three months ended September 30, 2020, or in the three months ended September 30, 2019. For the nine months ended September 30, 2020, there were 2 corporate bonds sold with a total amortized cost of $1,008,433 and an associated gain on sale of $35,567. The proceeds of the sale were $1,044,000. For the nine months ended September 30, 2019, there were 6 corporate bonds sold with a total amortized cost of $2,751,221 and an associated gain on sale of $49,454. The proceeds of the sale were $2,800,675. There was also 1 municipal bond sold with an amortized cost of $141,861 and an associated gain on sale of $1,139. The proceeds of the sale were $143,000.

Securities Held to Maturity

Securities Held to Maturity	9 Months Ended
	Sep. 30, 2020
Valuation Allowance Amortized Into Interest Income
Securities Held to Maturity	4. SECURITIES HELD TO MATURITY The amortized cost, gross unrealized gains and losses, and fair values of securities held to maturity are as follows: September 30, 2020 (unaudited) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 2,374 $ 48 $ - $ 2,422 Total $ 2,374 $ 48 $ - $ 2,422 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 3,879 $ 53 $ - $ 3,932 Total $ 3,879 $ 53 $ - $ 3,932 The amortized cost and fair value of mortgage-backed securities by contractual maturity are shown below. Mortgage-backed securities provide for periodic payments of principal and interest and have contractual maturities ranging up to 8 years. Due to expected repayment terms being less than the underlying mortgage pool contractual maturities, estimated lives of these securities could be significantly shorter. September 30, 2020 (unaudited) Amortized Fair Cost Value Due within one year or less $ 665 $ 665 Due after one year through five years 640 648 Due after five years through nine years 1,069 1,109 Total $ 2,374 $ 2,422

Unrealized Losses on Securities

Unrealized Losses on Securities	9 Months Ended
	Sep. 30, 2020
Other Real Estate Owned Fair Value Disclosure
Unrealized Losses on Securities	5. UNREALIZED LOSSES ON SECURITIES The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position: September 30, 2020 (unaudited) Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Mortgage-backed securities in government-sponsored entities $ 1,747,155 $ (6,662 ) $ - $ - $ 1,747,155 $ (6,662 ) Obligations of state and political subdivisions - - - - - - Corporate bonds - - - - - - Total $ 1,747,155 $ (6,662 ) $ - $ - $ 1,747,155 $ (6,662 ) December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Mortgage-backed securities in government-sponsored entities $ 3,005,336 $ (40,992 ) $ 273,818 $ (1,391 ) $ 3,279,154 $ (42,383 ) Obligations of state and political subdivisions 24,996 (4 ) - - 24,996 (4 ) Corporate bonds 2,068,955 (11,907 ) - - 2,068,955 (11,907 ) Total $ 5,099,287 $ (52,903 ) $ 273,818 $ (1,391 ) $ 5,373,105 $ (54,294 ) Management reviews the Company’s investment positions monthly. There were 6 investments that were temporarily impaired as of September 30, 2020, with aggregate depreciation of 0.1 percent of the Company’s amortized cost basis. There were 11 investments that were temporarily impaired as of December 31, 2019, with aggregate depreciation of 0.6 percent of the Company’s amortized cost basis. Management has asserted that at September 30, 2020 and December 31, 2019, the declines disclosed in the above table represent temporary declines and the Company does not intend to sell and does not believe it will be required to sell these securities before recovery of their cost basis, which may be at maturity. The Company has concluded that any impairment of its investment securities portfolio disclosed in the above table is not other-than-temporary and the declines are the result of interest rate changes, sector credit rating changes, or company-specific rating changes that are not expected to result in the non-collection of principal and interest during the period.

Loans

Loans	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Loans	6. LOANS The Company’s loan portfolio summarized by category is as follows: September 30, December 31, 2020 2019 (unaudited) Mortgage loans: One-to-four family $ 67,431,099 $ 70,511,775 Commercial 49,890,849 57,117,861 117,321,948 127,629,636 Commercial and industrial 44,389,902 23,990,540 Consumer 6,114,586 5,690,941 167,826,436 157,311,117 Third-party loan acquisition and other net origination costs (310,452 ) 147,441 Discount on loans previously held for sale (133,138 ) (163,182 ) Allowance for loan losses (1,521,026 ) (1,183,261 ) Total $ 165,861,820 $ 156,112,115 The Company’s primary business activity is with customers located in Pittsburgh and surrounding communities. The Company’s loan portfolio consists predominantly of one-to-four family mortgage and commercial mortgage loans. These loans are typically secured by first-lien positions on the respective real estate properties and are subject to the Company’s underwriting policies. During the normal course of business, the Company may sell a portion of a loan as a participation loan in order to manage portfolio risk. In order to be eligible for sales treatment, all cash flows from the loan must be divided proportionately, the rights of each loan holder must have the same priority, the loan holders must have no recourse to the transferor other than standard representations and warranties, and no loan holder can have the right to pledge or exchange the entire loan. The Company sold $13.8 million and $9.9 million in participation loans as of September 30, 2020 and December 31, 2019, respectively, to other financial institutions. The increase was due to a $5.7 million loan pool that was participated during the nine months ended September 30, 2020. As of September 30, 2020, and December 31, 2019, all these loans were being serviced by the Company.

Allowance for Loan Losses

Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Allowance for Loan Losses	7. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses reflects management’s estimate of loan losses inherent in the loan portfolio at the balance sheet date. The following tables present, by portfolio segment, the changes in the allowance for loan losses and the recorded investment in loans for the three and nine months ended September 30, 2020 (unaudited) and 2019 (unaudited), respectively: Mortgage Commercial Consumer Three months ended One-to-Four Mortgage and and September 30, 2020: Family Commercial Industrial HELOC Total Allowance for loan losses: Beginning balance $ 621,527 $ 442,659 $ 291,790 $ 67,585 $ 1,423,561 Charge-offs - - - (2,534 ) (2,534 ) Recoveries - - - - - Provision (credit) 83,118 10,310 (1,053 ) 7,624 99,999 Ending balance $ 704,645 $ 452,969 $ 290,737 $ 72,675 $ 1,521,026 Three months ended Mortgage Commercial Consumer Allowance for loan losses: Beginning balance $ 446,697 $ 386,720 $ 276,496 $ 47,196 $ 1,157,109 Charge-offs - - (50,652 ) - (50,652 ) Recoveries - - - - - Provision (credit) (28,069 ) 106,147 (4,155 ) (20,923 ) 53,000 Ending balance $ 418,628 $ 492,867 $ 221,689 $ 26,273 $ 1,159,457 Nine months ended Mortgage Commercial Consumer Allowance for loan losses: Beginning balance $ 543,090 $ 443,897 $ 170,769 $ 25,505 $ 1,183,261 Charge-offs - - - (2,534 ) (2,534 ) Recoveries - - - - - Provision (credit) 161,555 9,072 119,968 49,704 340,299 Ending balance $ 704,645 $ 452,969 $ 290,737 $ 72,675 $ 1,521,026 Nine months ended Mortgage Commercial Consumer Allowance for loan losses: Beginning balance $ 422,539 $ 393,900 $ 263,721 $ 44,765 $ 1,124,925 Charge-offs (28,268 ) (22,932 ) (50,652 ) (13,189 ) (115,041 ) Recoveries - - 1,073 - 1,073 Provision (credit) 24,357 121,899 7,547 (5,303 ) 148,500 Ending balance $ 418,628 $ 492,867 $ 221,689 $ 26,273 $ 1,159,457 The following tables summarize the loan portfolio and allowance for loan losses by the primary segments of the loan portfolio as of September 30, 2020 (unaudited), and December 31, 2019. Mortgage One-to-Four Family Mortgage Commercial Commercial and Industrial Consumer and HELOC Total September 30, 2020 Allowance for loan losses: Loans deemed impaired $ 226,509 $ 40,029 $ - $ 8,607 $ 275,145 Loans not deemed impaired 478,136 412,940 290,737 64,068 1,245,881 Ending Balance $ 704,645 $ 452,969 $ 290,737 $ 72,675 $ 1,521,026 September 30, 2020 Loans: Loans deemed impaired $ 3,666,672 $ 2,603,114 $ 1,618,200 $ 150,092 $ 8,038,078 Loans not deemed impaired 63,764,427 47,287,735 42,771,702 5,964,494 159,788,358 Ending Balance $ 67,431,099 $ 49,890,849 $ 44,389,902 $ 6,114,586 $ 167,826,436 Mortgage One-to-Four Family Mortgage Commercial Commercial and Industrial Consumer and HELOC Total December 31, 2019 Allowance for loan losses: Loans deemed impaired $ 43,180 $ - $ - $ - $ 43,180 Loans not deemed impaired 499,910 443,897 170,769 25,505 1,140,081 Ending Balance $ 543,090 $ 443,897 $ 170,769 $ 25,505 $ 1,183,261 December 31, 2019 Loans: Loans deemed impaired $ 3,912,297 $ 2,472,890 $ 1,398,286 $ 188,060 $ 7,971,533 Loans not deemed impaired 66,599,478 54,644,971 22,592,254 5,502,881 149,339,584 Ending Balance $ 70,511,775 $ 57,117,861 $ 23,990,540 $ 5,690,941 $ 157,311,117 The following tables present impaired loans by class as of September 30, 2020, and December 31, 2019, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary. September 30, 2020 (unaudited) December 31, 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no allowance recorded: Mortgage loans: One-to-four family $ 2,153,472 $ 2,669,430 $ - $ 3,753,813 $ 3,785,265 $ - Commercial 1,597,110 1,606,218 - 2,472,890 2,497,469 - Commercial and Industrial 1,618,200 1,635,286 - 1,398,286 1,465,938 - Consumer and HELOC 150,092 158,341 - 188,060 194,255 - With an allowance recorded: Mortgage loans: One-to-four family 1,513,200 1,515,745 226,509 158,484 158,547 43,180 Commercial 1,006,004 1,034,020 40,029 - - - Commercial and Industrial - - - - - - Consumer and HELOC - - 8,607 - - - Total mortgage loans: One-to-four family 3,666,672 4,185,175 226,509 3,912,297 3,943,812 43,180 Commercial 2,603,114 2,640,238 40,029 2,472,890 2,497,469 - Commercial and Industrial 1,618,200 1,635,286 - 1,398,286 1,465,938 - Consumer and HELOC 150,092 158,341 8,607 188,060 194,255 - Total $ 8,038,078 $ 8,619,040 $ 275,145 $ 7,971,533 $ 8,101,474 $ 43,180 The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 (unaudited) (unaudited) Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no allowance recorded: Mortgage loans: One-to-four family $ 2,169,928 $ 25,242 $ 3,592,680 $ 12,468 Commercial 1,589,065 22,583 2,292,069 13,511 Commercial and industrial 1,618,200 24,105 541,458 - Consumer and HELOC 151,268 1,209 6,195 - With an allowance recorded: Mortgage loans: One-to-four family 1,514,346 16,457 161,372 766 Commercial 985,620 7,500 - - Commercial and industrial - - - - Consumer and HELOC - - - - Total mortgage loans: One-to-four family 3,684,274 41,699 3,754,052 13,234 Commercial 2,574,685 30,083 2,292,069 13,511 Commercial and industrial 1,618,200 24,105 541,458 - Consumer and HELOC 151,268 1,209 6,195 - Total $ 8,028,427 $ 97,096 $ 6,593,774 $ 26,745 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 (unaudited) (unaudited) Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no allowance recorded: Mortgage loans: One-to-four family $ 2,329,534 $ 43,041 $ 2,655,914 $ 42,401 Commercial 1,553,074 59,962 2,044,432 37,417 Commercial and industrial 1,618,257 88,600 284,259 - Consumer and HELOC 153,595 4,752 6,195 - With an allowance recorded: Mortgage loans: One-to-four family 1,474,758 34,873 163,879 2,372 Commercial 968,159 7,500 - - Commercial and industrial - - - - Consumer and HELOC 16,146 - - - Total mortgage loans: One-to-four family 3,804,292 77,914 2,819,793 44,773 Commercial 2,521,233 67,462 2,044,432 37,417 Commercial and industrial 1,618,257 88,600 284,259 - Consumer and HELOC 169,741 4,752 6,195 - Total $ 8,113,523 $ 238,728 $ 5,154,679 $ 82,190 Aging Analysis of Past-Due Loans by Class Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories at the dates indicated: September 30, 2020 (unaudited) 30-59 Days 60-89 Days Past 90 Days or Greater Total Past Total Loans 90 Days or Greater Past Due And Past Due Due Past Due Due Current Receivable Still Accruing Mortgage loans: One-to-four family $ 296,689 - 1,136,268 1,432,957 $ 65,998,142 $ 67,431,099 $ - Commercial 665,250 - 848,685 1,513,935 48,376,914 49,890,849 656,176 Commercial and industrial - - 220,000 220,000 44,169,902 44,389,902 - Consumer and HELOC 87,015 - - 87,015 6,027,571 6,114,586 - Total $ 1,048,954 $ - $ 2,204,953 $ 3,253,907 $ 164,572,529 $ 167,826,436 $ 656,176 December 31, 2019 90 Days 90 Days or 30-59 Days 60-89 Days or Greater Total Past Total Loans Greater Still Past Due Past Due Past Due Due Current Receivable Accruing Mortgage loans: One-to-four family $ 338,997 856,490 1,799,005 2,994,492 $ 67,517,283 $ 70,511,775 $ - Commercial 280,198 138,256 823,417 1,241,871 55,875,990 57,117,861 645,201 Commercial and industrial 32,261 220,000 - 252,261 23,738,279 23,990,540 - Consumer and HELOC 4,512 - 38,864 43,376 5,647,565 5,690,941 - Total $ 655,968 $ 1,214,746 $ 2,661,286 $ 4,532,000 $ 152,779,117 $ 157,311,117 $ 645,201 The decrease in total past due of $1.3 million from December 31, 2019 to September 30, 2020 was primarily due to addition of personnel specializing in collections. The volume of past-due loans has been trending downward since the hiring of the new personnel. The following table presents the loans on nonaccrual status, by class, at the dates indicated: September 30, December 31, 2020 2019 (unaudited) Mortgage loans: One-to-four family $ 1,743,765 $ 2,045,845 Commercial 249,375 1,055,876 Commercial and industrial 219,914 74,864 Consumer and HELOC 896 38,864 Total $ 2,213,950 $ 3,215,449 Credit Quality Information The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to their credit risk. The Company uses a nine-grade internal loan rating system for commercial mortgage loans and commercial and industrial loans as follows: ● Loans rated 1, 2, 3, 4, and 5: ● Loans rated 6: ● Loans rated 7: ● Loans rated 8: ● Loans rated 9: The risk category of loans by class is as follows at the dates indicated: September 30, 2020 (unaudited) December 31, 2019 Mortgage Commercial and Mortgage Commercial and Commercial Industrial Commercial Industrial Loans rated 1 - 5 $ 47,426,565 $ 42,704,132 $ 54,749,767 $ 23,848,823 Loans rated 6 16,285 1,543,337 24,658 - Loans rated 7 2,447,999 142,433 2,343,436 141,717 Ending balance $ 49,890,849 $ 44,389,902 $ 57,117,861 $ 23,990,540 There were no loans classified as doubtful or loss at September 30, 2020, or December 31, 2019. For one-to-four family mortgage loans and consumer and HELOC loans, the Company evaluates credit quality based on whether the loan is considered to be performing or nonperforming. Loans are generally considered to be nonperforming when they are placed on nonaccrual or become 90 days past due. The following table presents the balances of loans by class based on payment performance: September 30, 2020 (unaudited) December 31, 2019 Mortgage Consumer Mortgage Consumer One-to-Four and One-to-Four and Family HELOC Family HELOC Performing $ 65,687,334 $ 6,113,690 $ 68,465,930 $ 5,652,077 Nonperforming 1,743,765 896 2,045,845 38,864 Total $ 67,431,099 $ 6,114,586 $ 70,511,775 $ 5,690,941 Troubled Debt Restructurings There was one loan modified as a troubled debt restructuring during the nine months ended September 30, 2020. The loan was a one-to-four family mortgage loan with a balance of $323,140 at the date of the modification. The concession granted by the Company was an extension of the maturity date and a decrease in the interest rate. There were no loans modified as troubled debt restructurings during the nine months ended September 30, 2019. As of September 30, 2020, and December 31, 2019, the Company allocated $204,202 and $43,180, respectively, within the allowance for loan losses related to all loans modified as troubled debt restructurings. The Company had three loans modified as a troubled debt restructuring in the preceding 12 months that subsequently defaulted in the nine months ended September 30, 2020. The three defaulted troubled debt restructurings are commercial and industrial loans totaling $1,323,422. As of September 30, 2020, the three commercial and industrial loans were classified as “special mention,” which classification carries greater weight when calculating the allowance for loan losses. At September 30, 2020, management believes a full recovery of principal will be made on these loans. The Company had no loans modified as troubled debt restructurings in the preceding 12 months that subsequently defaulted in the three months ended September 30, 2020.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2020
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Employee Stock Ownership Plan	8. EMPLOYEE STOCK OWNERSHIP PLAN The Bank established a tax qualified Employee Stock Ownership Plan (“ESOP”) for the benefit of its employees in conjunction with the Reorganization effective on January 24, 2018. Eligible employees become 20% vested in their accounts after two years of service, 40% after three years of service, 60% after four years of service, 80% after five years of service, and 100% after six years of service, or earlier, upon death, disability or attainment of normal retirement age. The ESOP purchased 88,131 shares of Company common stock, which was funded by a loan from the Company. Unreleased ESOP shares collateralize the loan payable, and the cost of the shares is recorded as a contra-equity account in the stockholders’ equity of the Company. Shares are to be released as debt payments are made by the ESOP to the loan. The ESOP’s sources of repayment of the loan can include dividends, if any, on the unallocated stock held by the ESOP and discretionary contributions from the Company to the ESOP and earnings thereon. Compensation expense is equal to the fair value of the shares committed to be released and unallocated ESOP shares are excluded from outstanding shares for purposes of computing earnings per share. During the three and nine months ended September 30, 2020, the Company recognized $7,678 and $23,740, respectively, in compensation expense.

Stock Compensation Plan

Stock Compensation Plan	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Stock Compensation Plan	9. STOCK COMPENSATION PLAN In May 2019, the Company’s board of directors adopted, and the Company’s shareholders approved, the SSB Bancorp, Inc. 2019 Equity Incentive Plan (the “Plan”) authorizing the grant of options or restricted stock covering 154,229 shares of common stock. The maximum number of shares of stock that may be delivered under the Plan pursuant to the exercise of stock options is 110,164 and the maximum number of shares of stock that may be issued as restricted stock awards, restricted stock units, and performances shares is 44,065. Under the Plan, options or restricted stock can be granted to directors, officers, and employees that provide services to the Company, as selected by the compensation committee of the Board. The option price at which a granted stock option may be exercised will not be less than 100% of the fair market value per share of common stock on the grant date. The maximum term of any option granted under the Plan cannot exceed 10 years. On May 23, 2019, 11,015 shares of restricted stock and 27,540 stock options were awarded to directors under the Plan. The shares of restricted stock and stock options vest at a rate of 20% per year and the vesting commenced on May 23, 2020, and the related expense is being recognized straight-line over the 60-month period. Additionally, on November 20, 2019, 17,626 shares of restricted stock and 44,066 stock options were awarded to certain executives under the Plan. The shares of restricted stock and stock options vest at a rate of 20% per year commencing on November 20, 2020, and the related expense is being recognized straight-line over the 60-month period. At September 30, 2020, there were 15,424 shares of stock and 38,558 stock options available to be issued under the Plan. The following tables summarize transactions regarding the restricted stock under the Plan for the three and nine months ended September 30, 2020. Three months ended September 30, 2020 Weighted average Number of grant date price restricted shares per share Non-vested shares at July 1, 2020 26,438 $ 7.85 Granted - - Vested - - Forfeited - - Non-vested shares at September 30, 2020 26,438 7.85 Nine months ended September 30, 2020 Weighted average Number of grant date price restricted shares per share Non-vested shares at January 1, 2020 28,641 $ 7.89 Granted - - Vested 2,203 8.35 Forfeited - - Non-vested shares at September 30, 2020 26,438 7.85 A summary of the status of the awarded stock options at September 30, 2020, and changes during the three and nine months ended September 30, 2020 is presented in the tables and narrative following: Three months ended September 30, 2020 Shares Weighted Average Exercise Price Weighted Average Fair Value Outstanding at July 1, 2020 71,606 $ 7.89 $ 0.95 Granted - - - Exercised - - - Forfeited - - - Outstanding at September 30, 2020 71,606 7.89 0.95 Exercisable at September 30, 2020 5,508 8.35 0.97 Weighted average of options granted in current year - $ N/A N/A Nine months ended September 30, 2020 Shares Weighted Average Exercise Price Weighted Average Fair Value Outstanding at January 1, 2020 71,606 $ 7.89 $ 0.95 Granted - - - Exercised - - - Forfeited - - - Outstanding at September 30, 2020 71,606 7.89 0.95 Exercisable at September 30, 2020 5,508 8.35 0.97 Weighted average of options granted in current year - $ N/A N/A At September 30, 2020, 5,508 of the 71,606 options outstanding were exercisable. Of the 66,098 options that are not yet exercisable, 22,032 have an exercise price of $8.35, and 44,066 have an exercise price of $7.60. The weighted average remaining contractual life of the 71,606 options is 9.0 years. The fair value of each option grant is estimated on the date of grant using the Binomial or Black-Scholes option pricing model. There were no shares granted during the three months or nine months ended September 30, 2020. The Company uses the modified prospective method for accounting for stock-based compensation. The Company recognized $11,000 and $34,000 of pretax compensation expense related to restricted stock awards in the three and nine months ended September 30, 2020, respectively. The Company recognized $3,000 and $9,000 of pretax compensation expense related to stock option awards in the three and nine months ended September 30, 2020, respectively. As of September 30, 2020, there was $176,000 of unrecognized compensation expense related to restricted stock awards, and $48,000 of unrecognized compensation expense related to stock option awards, that will be recognized over the remaining vesting periods. No stock options had been exercised as of September 30, 2020.

Regulatory Capital Requirements

Regulatory Capital Requirements	9 Months Ended
	Sep. 30, 2020
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Regulatory Capital Requirements	10. REGULATORY CAPITAL REQUIREMENTS The Bank is subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measure of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The net unrealized gain or loss on available for sale securities is not included in computing regulatory capital. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. As of September 30, 2020, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum capital ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed the Bank’s category. Management believes that the Bank meets all capital adequacy requirements to which it is subject. Although the Company is not subject to regulatory capital requirements because its total consolidated assets are less than $3.0 billion, the Company’s actual capital amounts and ratios are presented in the table below. September 30, December 31, 2020 2019 Amount Ratio Amount Ratio (unaudited) Common Equity Tier 1 capital (to risk-weighted assets) Actual $ 22,034,427 14.47 % $ 20,888,619 14.00 % For capital adequacy purposes 6,850,305 4.50 % 6,714,585 4.50 % To be well capitalized 9,894,885 6.50 % 9,698,845 6.50 % Tier 1 capital (to risk-weighted assets) Actual $ 22,034,427 14.47 % $ 20,888,619 14.00 % For capital adequacy purposes 9,133,740 6.00 % 8,952,780 6.00 % To be well capitalized 12,178,320 8.00 % 11,937,040 8.00 % Total capital (to risk-weighted assets) Actual $ 23,555,453 15.47 % $ 22,071,880 14.79 % For capital adequacy purposes 12,178,320 8.00 % 11,937,040 8.00 % To be well capitalized 15,222,900 10.00 % 14,921,300 10.00 % Tier 1 capital (to average assets) Actual $ 22,034,427 9.85 % $ 20,888,619 10.66 % For capital adequacy purposes 8,950,287 4.00 % 7,834,802 4.00 % To be well capitalized 11,187,859 5.00 % 9,793,503 5.00 % The Bank’s actual capital amounts and ratios are presented in the table below. September 30, December 31, 2020 2019 Amount Ratio Amount Ratio (unaudited) Common Equity Tier 1 capital (to risk-weighted assets) Actual $ 18,384,574 12.08 % $ 17,287,045 11.59 % For capital adequacy purposes 6,850,305 4.50 % 6,714,585 4.50 % To be well capitalized 9,894,885 6.50 % 9,698,845 6.50 % Tier 1 capital (to risk-weighted assets) Actual $ 18,384,574 12.08 % $ 17,287,045 11.59 % For capital adequacy purposes 9,133,740 6.00 % 8,952,780 6.00 % To be well capitalized 12,178,320 8.00 % 11,937,040 8.00 % Total capital (to risk-weighted assets) Actual $ 19,905,600 13.08 % $ 18,470,306 12.38 % For capital adequacy purposes 12,178,320 8.00 % 11,937,040 8.00 % To be well capitalized 15,222,900 10.00 % 14,921,300 10.00 % Tier 1 capital (to average assets) Actual $ 18,384,574 8.22 % $ 17,287,045 8.83 % For capital adequacy purposes 8,950,109 4.00 % 7,834,797 4.00 % To be well capitalized 11,187,637 5.00 % 9,793,496 5.00 %

Commitments

Commitments	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments	11. COMMITMENTS In the normal course of business, the Company makes various commitments that are not reflected in the Company’s consolidated financial statements. The Company offers such products to enable its customers to meet their financing objectives. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized on the balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other parties to the financial instruments is represented by the contractual amounts as disclosed. The Company minimizes its exposure to credit loss under these commitments by subjecting them to credit approval and review procedures and collateral requirements as deemed necessary. Off-balance sheet commitments consist of the following: September 30, 2020 (unaudited) Commitments to extend credit $ 9,065,490 Construction unadvanced funds 5,167,309 Unused lines of credit 10,266,618 Letters of credit 4,776,766 $ 29,276,183 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the agreement. These commitments consisted primarily of mortgage loan commitments. The Company uses the same credit policies in making loan commitments and conditional obligations as it does for on-balance sheet instruments. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, as deemed necessary, is based upon management’s credit evaluation in compliance with the Company’s lending policy guidelines. The Company and certain executives are parties to employment agreements that provide for a base salary and certain other benefits. The initial terms of the agreements are for three years with annual renewals thereafter. In the event of the executive’s termination without cause, as defined, the executive will receive a lump-sum cash payment equal to the amount remaining under the contract. Additional benefits are payable upon a change in control, as defined.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. FAIR VALUE MEASUREMENTS The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three broad pricing levels are as follows: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. This hierarchy requires the use of observable market data, when available. Fair values for securities are determined by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark-quoted securities. Fair values of securities determined by quoted prices in active markets, when available, are classified as Level I. At September 30, 2020 and December 31, 2019, fair value measurements were obtained from a third-party pricing service and were not adjusted by management. Transfers are recognized at the end of the reporting period, as applicable. The following tables present the assets reported on the balance sheets at their fair value by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2020 (unaudited) Level I Level II Level III Total Fair value measurements on a recurring basis: Mortgage-backed securities in government-sponsored entities $ - $ 2,231,017 $ - $ 2,231,017 Obligations of state and political subdivisions - 1,293,315 - 1,293,315 Corporate bonds - 3,951,344 - 3,951,344 Mortgage servicing rights - - 610,399 610,399 Impaired loans with reserve - - 2,244,058 2,244,058 December 31, 2019 Level I Level II Level III Total Fair value measurements on a recurring basis: Mortgage-backed securities in government-sponsored entities $ - $ 5,281,328 $ - $ 5,281,328 Obligations of state and political subdivisions - 1,365,705 - 1,365,705 Corporate bonds - 3,202,566 - 3,202,566 Mortgage servicing rights - - 317,939 317,939 Impaired loans with reserve - - 115,304 115,304 September 30, 2020 (unaudited) Level I Level II Level III Total Fair value measurements on a nonrecurring basis: Other real estate owned $ - $ - $ - $ - December 31, 2019 Level I Level II Level III Total Fair value measurements on a nonrecurring basis: Other real estate owned $ - $ - $ 45,000 $ 45,000 Other Real Estate Owned Other real estate owned is measured at fair value, less estimated cost to sell, at the date of foreclosure, which establishes a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management. The assets are carried at fair value, less estimated cost to sell. Income and expense from operations and changes in valuation allowance are included in other noninterest expense. Level III Inputs The following table provides the significant unobservable inputs used in the fair value measurement process for items valued using Level III techniques: Fair Value at Valuation Range September 30, Valuation Unobservable (Weighted 2020 Techniques Inputs Average) (unaudited) Other real estate owned $ - Appraised collateral values Discount for time since appraisal 10 % (10 )% Selling costs 10 % (10 )% Impaired loans with reserve 2,244,058 Discounted cash flows Discount for evaluation 10 % (10 )% Selling costs 10 % (10 )% Mortgage servicing rights 610,399 Discounted cash flows Loan prepayment speeds 8.49% - 10.63 % (10.02 )% Fair Value at Valuation Range December 31, Valuation Unobservable (Weighted 2019 Techniques Inputs Average) Other real estate owned $ 45,000 Appraised collateral values Discount for time since appraisal 10 % (10 )% Selling costs 10 % (10 )% Impaired loans with reserve 115,304 Discounted cash flows Discount for evaluation 10 % (10 )% Selling costs 10 % (10 )% Mortgage servicing rights 317,939 Discounted cash flows Loan prepayment speeds 8.49%-10.52 % (9.38 )% The estimated fair values of the Company’s financial instruments are as follows: September 30, 2020 (unaudited) Carrying Value Fair Value Level I Level II Level III Financial assets: Cash and cash equivalents $ 36,164,269 $ 36,164,269 $ 36,164,269 $ - $ - Certificates of deposit 3,955,000 4,187,000 - 4,187,000 - Investment securities: Available for sale 7,475,676 7,475,676 - 7,475,676 - Held to maturity 2,374 2,422 - 2,422 - Loans, net 165,861,820 174,018,820 - - 174,018,820 Accrued interest receivable 1,132,240 1,132,240 - 1,132,240 - FHLB Stock 3,849,200 3,849,200 - - 3,849,200 Financial liabilities: Deposits 162,798,595 166,010,595 82,066,667 - 83,943,928 FHLB advances 24,250,000 25,702,000 - 25,702,000 - PPPLF advances 17,292,786 17,318,786 - 17,318,786 - Accrued interest payable 288,725 288,725 - 288,725 - December 31, 2019 Carrying Value Fair Value Level I Level II Level III Financial assets: Cash and cash equivalents $ 21,880,788 $ 21,880,788 $ 21,880,788 $ - $ - Certificates of deposit 2,465,000 2,576,000 - 2,576,000 - Investment securities: Available for sale 9,849,599 9,849,599 - 9,849,599 - Held to maturity 3,879 3,932 - 3,932 - Loans, net 156,112,115 163,239,115 - - 163,239,115 Accrued interest receivable 673,026 673,026 - 673,026 - FHLB Stock 2,924,600 2,924,600 - - 2,924,600 Financial liabilities: Deposits 149,020,729 150,700,557 55,206,337 - 95,494,220 FHLB advances 31,374,500 31,773,500 - 31,773,500 - Accrued interest payable 331,133 331,133 - 331,133 - Financial instruments are defined as cash, evidence of an ownership interest in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second entity on potentially favorable or unfavorable terms. Fair value is defined as the amount at which a financial instrument could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. If a quoted market price is available for a financial instrument, the estimated fair value would be calculated based upon the market price per trading unit of the instrument.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Investments, All Other Investments [Abstract]
Fair Value of Financial Instruments	13. FAIR VALUE OF FINANCIAL INSTRUMENTS If no readily available market exists, the fair value estimates for financial instruments should be based upon management’s judgment regarding current economic conditions, interest rate risk, expected cash flows, future estimated losses, and other factors as determined through various option pricing formulas or simulation modeling. Since many of these assumptions result from judgments made by management based upon estimates which are inherently uncertain, the resulting estimated fair values may not be indicative of the amount realizable in the sale of a particular financial instrument. In addition, changes in the assumptions on which the estimated fair values are based may have a significant impact on the resulting estimated fair values. Since certain assets, such as deferred tax assets and premises and equipment, are not considered financial instruments, the estimated fair value of financial instruments would not represent the full value of the Company. Cash and Cash Equivalents, Accrued Interest Receivable, FHLB Stock, and Accrued Interest Payable The fair value is equal to the current carrying value. Certificates of Deposit The fair values of certificates of deposit are based on the discounted value of contractual cash flows. The discount rates are estimated using rates currently offered for similar instruments with similar remaining maturities. Securities Fair values for securities are determined by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark-quoted securities. Fair values of securities determined by quoted prices in active markets, when available, are classified as Level I. Loans, Net The fair value is estimated by discounting future cash flows using current market inputs at which loans with similar terms and qualities would be made to borrowers of similar credit quality. Certain collateral dependent impaired loans have been adjusted to fair value based on the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, along with management’s assumptions in various factors, such as estimated selling costs and discounts for time since last appraised. FHLB Advances and PPPLF Advances The fair value of FHLB advances and PPPLF advances is based on the discounted value of contractual cash flows. The discount rates are estimated using rates currently offered for similar instruments with similar remaining maturities. Deposits The fair values of certificates of deposit are based on the discounted value of contractual cash flows. The discount rates are estimated using rates currently offered for similar instruments with similar remaining maturities. Demand, savings, and money market deposit accounts are valued at the amount payable on demand as of the period end. Commitments These financial instruments are generally not subject to sale, and estimated fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, are not considered material for disclosure. The contractual amounts of unfunded commitments are presented in Note 11.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	14. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax: Net Unrealized Gain (Loss) on Securities Three months ended September 30, 2020 2019 (unaudited) Accumulated other comprehensive income (loss), beginning of period $ 134,718 $ 53,009 Other comprehensive income (loss) on securities before reclassification, net of tax 31,209 (40,105 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax - - Net other comprehensive income (loss) 31,209 (40,105 ) Accumulated other comprehensive income (loss), end of period $ 165,927 $ 12,904 Net Unrealized Gain (Loss) on Securities Nine months ended September 30, 2020 2019 (unaudited) Accumulated other comprehensive income (loss), beginning of period $ (5,421 ) $ (74,623 ) Other comprehensive income (loss) on securities before reclassification, net of tax 199,446 127,496 Amounts reclassified from accumulated other comprehensive income (loss), net of tax (28,098 ) (39,969 ) Net other comprehensive income (loss) 171,348 87,527 Accumulated other comprehensive income (loss), end of period $ 165,927 $ 12,904

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
EARNINGS PER COMMON SHARE
Earnings Per Share	15. EARNINGS PER SHARE Earnings per common share for the three and nine months ended September 30, 2020 and 2019, are represented in the following tables. Three months ended Three months ended September 30, 2020 September 30, 2019 (unaudited) Net Income $ 476,052 $ 89,553 Shares outstanding for basic EPS: Average shares outstanding 2,253,658 2,248,805 Less: Average unearned ESOP shares 76,739 81,146 Shares outstanding for basic EPS 2,176,919 2,167,659 Additional dilutive shares - - Shares oustanding for diluted EPS 2,176,919 2,167,659 Basic income per share $ 0.22 $ 0.04 Diluted income per share $ 0.22 $ 0.04 Nine months ended Nine months ended September 30, 2020 September 30, 2019 (unaudited) Net Income $ 1,079,018 $ 306,836 Shares outstanding for basic EPS: Average shares outstanding 2,252,234 2,248,458 Less: Average unearned ESOP shares 77,834 82,237 Shares outstanding for basic EPS 2,174,400 2,166,221 Additional dilutive shares - 221 Shares oustanding for diluted EPS 2,174,400 2,166,442 Basic income per share $ 0.50 $ 0.14 Diluted income per share $ 0.50 $ 0.14

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	16. LEASES Due to the adoption of ASU 2016-02, Leases (Topic 842) The discount rate utilized in calculating the present value of the remaining lease payments for the lease was the Federal Home Loan Bank of Pittsburgh advance rate corresponding to the remaining maturity of the lease. The following table presents the weighted-average lease term and discount rate for the lease outstanding at September 30, 2020. Operating Weighted-average remaining term (years) 0.8 Weighted-average discount rate 1.87 % The following table presents the undiscounted cash flows due to operating leases as of September 30, 2020, along with a reconciliation to the discounted amount recorded on the Consolidated Balance Sheets: Undiscounted cash flows due: Operating Within 1 year $ 5,000 After 1 year but within 2 years - After 2 years - Total undiscounted cash flows 5,000 Discount on cash flows (43 ) Total lease liabilities $ 4,957 Under Topic 842, the lessee can elect to not record on the Consolidated Balance Sheets a lease whose term is 12 months or less and does not include a purchase option that the lessee is reasonably certain to exercise. As of September 30, 2020, the Company had no leases that had a term of 12 months or less. The Company has recorded a right-of-use asset of $4,957 and a lease liability of $4,957 included with premises and equipment and other liabilities, respectively, on the Consolidated Balance Sheet as of September 30, 2020. Rental expense under operating leases totaled $1,500 for the three months ended September 30, 2020 and 2019, and $4,500 for the nine months ended September 30, 2020 and 2019.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2020
Revenue Recognition [Abstract]
Revenue Recognition	17. REVENUE RECOGNITION Due to the Company’s adoption of ASC 606 on January 1, 2019, the Company conforms to the standard framework for recognizing revenue from contracts with customers. Interest income, net securities (losses) gains and bank-owned life insurance are not in scope of ASC 606. For the revenue streams within the scope of ASC 606, including service charges on deposits, electronic banking fees, mortgage banking income, and net gain or loss on sale of other real estate owned, there are no significant judgements related to the amount and timing of revenue recognition. Service Charges on Deposits There are monthly service charges for both commercial and personal banking customers, depending on their account types, which are earned over the month per the related fee schedule based on the customers’ level of deposits. There are also transaction-based fees, which are earned based on specific transactions or customer activity within the customers’ deposit accounts. These are earned at the time the transaction or customer activity occurs. The fees are debited from the customer account. Electronic Banking Fees Interchange fees are earned based on customer transactions. Revenue is recognized when the transaction is settled. The Company does not charge ATM fees. Mortgage Banking Income Income is earned when SSB Bank-originated loans are sold to an investor on the secondary market. The investors offer pricing for loans at least daily. The Company makes commitments to deliver loans when pricing is acceptable. After a salable loan is originated and delivery is committed, the loan is sold, loan documents are delivered to the investor, revenue is recognized, and the loan is derecognized from the Consolidated Balance Sheets. Typically this happens within days of consummation. Mortgage servicing rights are retained in most cases, and the value of the mortgage servicing rights is recognized as revenue at the time of the sale. Net Gain or Loss on Sale of Other Real Estate Owned Net gain or loss is recorded when other real estate owned is sold to a third party and the Company collects substantially all of the consideration to which the Company is entitled in exchange for the transfer of the property. The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and nine months ended September 30, 2020 and 2019: For the three months ended September 30, Revenue Streams Point of revenue recognition 2020 2019 Service charges on deposits At a point in time & over time $ 1,085 $ 2,556 Electronic banking fees At a point in time $ 18,699 $ 8,613 Mortgage banking income At a point in time $ 629,200 $ 85,485 For the nine months ended September 30, Revenue Streams Point of revenue recognition 2020 2019 Service charges on deposits At a point in time & over time $ 5,064 $ 5,985 Electronic banking fees At a point in time $ 39,299 $ 22,143 Mortgage banking income At a point in time $ 1,409,595 $ 234,124

Securities Available for Sale (

Securities Available for Sale (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Securities Available for Sale	The amortized cost, gross unrealized gains and losses, and fair values of securities available for sale are as follows: September 30, 2020 (unaudited) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 2,231,569 $ 6,110 $ (6,662 ) $ 2,231,017 Obligations of state and political subdivisions 1,254,735 38,580 - 1,293,315 Corporate bonds 3,779,740 171,604 - 3,951,344 Total $ 7,266,044 $ 216,294 $ (6,662 ) $ 7,475,676 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 5,303,817 $ 19,894 $ (42,383 ) $ 5,281,328 Obligations of state and political subdivisions 1,363,535 2,174 (4 ) 1,365,705 Corporate bonds 3,189,510 24,963 (11,907 ) 3,202,566 Total $ 9,856,862 $ 47,031 $ (54,294 ) $ 9,849,599
Schedule of Contractual Maturities	Due to expected repayment terms being significantly less than the underlying mortgage pool contractual maturities, estimated lives of these securities could be significantly shorter. September 30, 2020 (unaudited) Amortized Fair Cost Value Due within one year or less $ 100,008 100,169 Due after one year through five years 1,839,162 1,886,613 Due after five years through ten years 3,125,461 3,287,985 Due after ten years 2,201,413 2,200,909 Total $ 7,266,044 $ 7,475,676

Securities Held to Maturity (Ta

Securities Held to Maturity (Tables)	9 Months Ended
	Sep. 30, 2020
Valuation Allowance Amortized Into Interest Income
Schedule of Securities Held to Maturity	The amortized cost, gross unrealized gains and losses, and fair values of securities held to maturity are as follows: September 30, 2020 (unaudited) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 2,374 $ 48 $ - $ 2,422 Total $ 2,374 $ 48 $ - $ 2,422 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Mortgage-backed securities in government-sponsored entities $ 3,879 $ 53 $ - $ 3,932 Total $ 3,879 $ 53 $ - $ 3,932
Schedule of Contractual Maturities	Due to expected repayment terms being less than the underlying mortgage pool contractual maturities, estimated lives of these securities could be significantly shorter. September 30, 2020 (unaudited) Amortized Fair Cost Value Due within one year or less $ 665 $ 665 Due after one year through five years 640 648 Due after five years through nine years 1,069 1,109 Total $ 2,374 $ 2,422

Unrealized Losses on Securiti_2

Unrealized Losses on Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Other Real Estate Owned Fair Value Disclosure
Schedule of Unrealized Loss on Securities	The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position: September 30, 2020 (unaudited) Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Mortgage-backed securities in government-sponsored entities $ 1,747,155 $ (6,662 ) $ - $ - $ 1,747,155 $ (6,662 ) Obligations of state and political subdivisions - - - - - - Corporate bonds - - - - - - Total $ 1,747,155 $ (6,662 ) $ - $ - $ 1,747,155 $ (6,662 ) December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Mortgage-backed securities in government-sponsored entities $ 3,005,336 $ (40,992 ) $ 273,818 $ (1,391 ) $ 3,279,154 $ (42,383 ) Obligations of state and political subdivisions 24,996 (4 ) - - 24,996 (4 ) Corporate bonds 2,068,955 (11,907 ) - - 2,068,955 (11,907 ) Total $ 5,099,287 $ (52,903 ) $ 273,818 $ (1,391 ) $ 5,373,105 $ (54,294 )

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Schedule of Loan Portfolio by Category	The Company’s loan portfolio summarized by category is as follows: September 30, December 31, 2020 2019 (unaudited) Mortgage loans: One-to-four family $ 67,431,099 $ 70,511,775 Commercial 49,890,849 57,117,861 117,321,948 127,629,636 Commercial and industrial 44,389,902 23,990,540 Consumer 6,114,586 5,690,941 167,826,436 157,311,117 Third-party loan acquisition and other net origination costs (310,452 ) 147,441 Discount on loans previously held for sale (133,138 ) (163,182 ) Allowance for loan losses (1,521,026 ) (1,183,261 ) Total $ 165,861,820 $ 156,112,115

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Schedule of Changes in Allowance for Loan Losses and Recorded Investment in Loans	The following tables present, by portfolio segment, the changes in the allowance for loan losses and the recorded investment in loans for the three and nine months ended September 30, 2020 (unaudited) and 2019 (unaudited), respectively: Mortgage Commercial Consumer Three months ended One-to-Four Mortgage and and September 30, 2020: Family Commercial Industrial HELOC Total Allowance for loan losses: Beginning balance $ 621,527 $ 442,659 $ 291,790 $ 67,585 $ 1,423,561 Charge-offs - - - (2,534 ) (2,534 ) Recoveries - - - - - Provision (credit) 83,118 10,310 (1,053 ) 7,624 99,999 Ending balance $ 704,645 $ 452,969 $ 290,737 $ 72,675 $ 1,521,026 Three months ended Mortgage Commercial Consumer Allowance for loan losses: Beginning balance $ 446,697 $ 386,720 $ 276,496 $ 47,196 $ 1,157,109 Charge-offs - - (50,652 ) - (50,652 ) Recoveries - - - - - Provision (credit) (28,069 ) 106,147 (4,155 ) (20,923 ) 53,000 Ending balance $ 418,628 $ 492,867 $ 221,689 $ 26,273 $ 1,159,457 Nine months ended Mortgage Commercial Consumer Allowance for loan losses: Beginning balance $ 543,090 $ 443,897 $ 170,769 $ 25,505 $ 1,183,261 Charge-offs - - - (2,534 ) (2,534 ) Recoveries - - - - - Provision (credit) 161,555 9,072 119,968 49,704 340,299 Ending balance $ 704,645 $ 452,969 $ 290,737 $ 72,675 $ 1,521,026 Nine months ended Mortgage Commercial Consumer Allowance for loan losses: Beginning balance $ 422,539 $ 393,900 $ 263,721 $ 44,765 $ 1,124,925 Charge-offs (28,268 ) (22,932 ) (50,652 ) (13,189 ) (115,041 ) Recoveries - - 1,073 - 1,073 Provision (credit) 24,357 121,899 7,547 (5,303 ) 148,500 Ending balance $ 418,628 $ 492,867 $ 221,689 $ 26,273 $ 1,159,457
Schedule of Primary Segments of Loan Portfolio	The following tables summarize the loan portfolio and allowance for loan losses by the primary segments of the loan portfolio as of September 30, 2020 (unaudited), and December 31, 2019. Mortgage One-to-Four Family Mortgage Commercial Commercial and Industrial Consumer and HELOC Total September 30, 2020 Allowance for loan losses: Loans deemed impaired $ 226,509 $ 40,029 $ - $ 8,607 $ 275,145 Loans not deemed impaired 478,136 412,940 290,737 64,068 1,245,881 Ending Balance $ 704,645 $ 452,969 $ 290,737 $ 72,675 $ 1,521,026 September 30, 2020 Loans: Loans deemed impaired $ 3,666,672 $ 2,603,114 $ 1,618,200 $ 150,092 $ 8,038,078 Loans not deemed impaired 63,764,427 47,287,735 42,771,702 5,964,494 159,788,358 Ending Balance $ 67,431,099 $ 49,890,849 $ 44,389,902 $ 6,114,586 $ 167,826,436 Mortgage One-to-Four Family Mortgage Commercial Commercial and Industrial Consumer and HELOC Total December 31, 2019 Allowance for loan losses: Loans deemed impaired $ 43,180 $ - $ - $ - $ 43,180 Loans not deemed impaired 499,910 443,897 170,769 25,505 1,140,081 Ending Balance $ 543,090 $ 443,897 $ 170,769 $ 25,505 $ 1,183,261 December 31, 2019 Loans: Loans deemed impaired $ 3,912,297 $ 2,472,890 $ 1,398,286 $ 188,060 $ 7,971,533 Loans not deemed impaired 66,599,478 54,644,971 22,592,254 5,502,881 149,339,584 Ending Balance $ 70,511,775 $ 57,117,861 $ 23,990,540 $ 5,690,941 $ 157,311,117
Schedule of Impaired Loans by Class	The following tables present impaired loans by class as of September 30, 2020, and December 31, 2019, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary. September 30, 2020 (unaudited) December 31, 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no allowance recorded: Mortgage loans: One-to-four family $ 2,153,472 $ 2,669,430 $ - $ 3,753,813 $ 3,785,265 $ - Commercial 1,597,110 1,606,218 - 2,472,890 2,497,469 - Commercial and Industrial 1,618,200 1,635,286 - 1,398,286 1,465,938 - Consumer and HELOC 150,092 158,341 - 188,060 194,255 - With an allowance recorded: Mortgage loans: One-to-four family 1,513,200 1,515,745 226,509 158,484 158,547 43,180 Commercial 1,006,004 1,034,020 40,029 - - - Commercial and Industrial - - - - - - Consumer and HELOC - - 8,607 - - - Total mortgage loans: One-to-four family 3,666,672 4,185,175 226,509 3,912,297 3,943,812 43,180 Commercial 2,603,114 2,640,238 40,029 2,472,890 2,497,469 - Commercial and Industrial 1,618,200 1,635,286 - 1,398,286 1,465,938 - Consumer and HELOC 150,092 158,341 8,607 188,060 194,255 - Total $ 8,038,078 $ 8,619,040 $ 275,145 $ 7,971,533 $ 8,101,474 $ 43,180
Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income	The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 (unaudited) (unaudited) Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no allowance recorded: Mortgage loans: One-to-four family $ 2,169,928 $ 25,242 $ 3,592,680 $ 12,468 Commercial 1,589,065 22,583 2,292,069 13,511 Commercial and industrial 1,618,200 24,105 541,458 - Consumer and HELOC 151,268 1,209 6,195 - With an allowance recorded: Mortgage loans: One-to-four family 1,514,346 16,457 161,372 766 Commercial 985,620 7,500 - - Commercial and industrial - - - - Consumer and HELOC - - - - Total mortgage loans: One-to-four family 3,684,274 41,699 3,754,052 13,234 Commercial 2,574,685 30,083 2,292,069 13,511 Commercial and industrial 1,618,200 24,105 541,458 - Consumer and HELOC 151,268 1,209 6,195 - Total $ 8,028,427 $ 97,096 $ 6,593,774 $ 26,745 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 (unaudited) (unaudited) Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no allowance recorded: Mortgage loans: One-to-four family $ 2,329,534 $ 43,041 $ 2,655,914 $ 42,401 Commercial 1,553,074 59,962 2,044,432 37,417 Commercial and industrial 1,618,257 88,600 284,259 - Consumer and HELOC 153,595 4,752 6,195 - With an allowance recorded: Mortgage loans: One-to-four family 1,474,758 34,873 163,879 2,372 Commercial 968,159 7,500 - - Commercial and industrial - - - - Consumer and HELOC 16,146 - - - Total mortgage loans: One-to-four family 3,804,292 77,914 2,819,793 44,773 Commercial 2,521,233 67,462 2,044,432 37,417 Commercial and industrial 1,618,257 88,600 284,259 - Consumer and HELOC 169,741 4,752 6,195 - Total $ 8,113,523 $ 238,728 $ 5,154,679 $ 82,190
Schedule of Classes of Loan Portfolio by Aging	The following tables present the classes of the loan portfolio summarized by the aging categories at the dates indicated: September 30, 2020 (unaudited) 30-59 Days 60-89 Days Past 90 Days or Greater Total Past Total Loans 90 Days or Greater Past Due And Past Due Due Past Due Due Current Receivable Still Accruing Mortgage loans: One-to-four family $ 296,689 - 1,136,268 1,432,957 $ 65,998,142 $ 67,431,099 $ - Commercial 665,250 - 848,685 1,513,935 48,376,914 49,890,849 656,176 Commercial and industrial - - 220,000 220,000 44,169,902 44,389,902 - Consumer and HELOC 87,015 - - 87,015 6,027,571 6,114,586 - Total $ 1,048,954 $ - $ 2,204,953 $ 3,253,907 $ 164,572,529 $ 167,826,436 $ 656,176 December 31, 2019 90 Days 90 Days or 30-59 Days 60-89 Days or Greater Total Past Total Loans Greater Still Past Due Past Due Past Due Due Current Receivable Accruing Mortgage loans: One-to-four family $ 338,997 856,490 1,799,005 2,994,492 $ 67,517,283 $ 70,511,775 $ - Commercial 280,198 138,256 823,417 1,241,871 55,875,990 57,117,861 645,201 Commercial and industrial 32,261 220,000 - 252,261 23,738,279 23,990,540 - Consumer and HELOC 4,512 - 38,864 43,376 5,647,565 5,690,941 - Total $ 655,968 $ 1,214,746 $ 2,661,286 $ 4,532,000 $ 152,779,117 $ 157,311,117 $ 645,201
Schedule of Loans on Nonaccrual Status	The following table presents the loans on nonaccrual status, by class, at the dates indicated: September 30, December 31, 2020 2019 (unaudited) Mortgage loans: One-to-four family $ 1,743,765 $ 2,045,845 Commercial 249,375 1,055,876 Commercial and industrial 219,914 74,864 Consumer and HELOC 896 38,864 Total $ 2,213,950 $ 3,215,449
Schedule of Risk Category of Loans	The risk category of loans by class is as follows at the dates indicated: September 30, 2020 (unaudited) December 31, 2019 Mortgage Commercial and Mortgage Commercial and Commercial Industrial Commercial Industrial Loans rated 1 - 5 $ 47,426,565 $ 42,704,132 $ 54,749,767 $ 23,848,823 Loans rated 6 16,285 1,543,337 24,658 - Loans rated 7 2,447,999 142,433 2,343,436 141,717 Ending balance $ 49,890,849 $ 44,389,902 $ 57,117,861 $ 23,990,540
Schedule of Balances of Loans by Class Based on Payment Performance	The following table presents the balances of loans by class based on payment performance: September 30, 2020 (unaudited) December 31, 2019 Mortgage Consumer Mortgage Consumer One-to-Four and One-to-Four and Family HELOC Family HELOC Performing $ 65,687,334 $ 6,113,690 $ 68,465,930 $ 5,652,077 Nonperforming 1,743,765 896 2,045,845 38,864 Total $ 67,431,099 $ 6,114,586 $ 70,511,775 $ 5,690,941

Stock Compensation Plan (Tables

Stock Compensation Plan (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Schedule of Nonvested Restricted Stock Under Plan	The following tables summarize transactions regarding the restricted stock under the Plan for the three and nine months ended September 30, 2020. Three months ended September 30, 2020 Weighted average Number of grant date price restricted shares per share Non-vested shares at July 1, 2020 26,438 $ 7.85 Granted - - Vested - - Forfeited - - Non-vested shares at September 30, 2020 26,438 7.85 Nine months ended September 30, 2020 Weighted average Number of grant date price restricted shares per share Non-vested shares at January 1, 2020 28,641 $ 7.89 Granted - - Vested 2,203 8.35 Forfeited - - Non-vested shares at September 30, 2020 26,438 7.85
Schedule of Stock Option Activity	A summary of the status of the awarded stock options at September 30, 2020, and changes during the three and nine months ended September 30, 2020 is presented in the tables and narrative following: Three months ended September 30, 2020 Shares Weighted Average Exercise Price Weighted Average Fair Value Outstanding at July 1, 2020 71,606 $ 7.89 $ 0.95 Granted - - - Exercised - - - Forfeited - - - Outstanding at September 30, 2020 71,606 7.89 0.95 Exercisable at September 30, 2020 5,508 8.35 0.97 Weighted average of options granted in current year - $ N/A N/A Nine months ended September 30, 2020 Shares Weighted Average Exercise Price Weighted Average Fair Value Outstanding at January 1, 2020 71,606 $ 7.89 $ 0.95 Granted - - - Exercised - - - Forfeited - - - Outstanding at September 30, 2020 71,606 7.89 0.95 Exercisable at September 30, 2020 5,508 8.35 0.97 Weighted average of options granted in current year - $ N/A N/A

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	9 Months Ended
	Sep. 30, 2020
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Schedule of Actual Capital Amounts and Ratios	Although the Company is not subject to regulatory capital requirements because its total consolidated assets are less than $3.0 billion, the Company’s actual capital amounts and ratios are presented in the table below. September 30, December 31, 2020 2019 Amount Ratio Amount Ratio (unaudited) Common Equity Tier 1 capital (to risk-weighted assets) Actual $ 22,034,427 14.47 % $ 20,888,619 14.00 % For capital adequacy purposes 6,850,305 4.50 % 6,714,585 4.50 % To be well capitalized 9,894,885 6.50 % 9,698,845 6.50 % Tier 1 capital (to risk-weighted assets) Actual $ 22,034,427 14.47 % $ 20,888,619 14.00 % For capital adequacy purposes 9,133,740 6.00 % 8,952,780 6.00 % To be well capitalized 12,178,320 8.00 % 11,937,040 8.00 % Total capital (to risk-weighted assets) Actual $ 23,555,453 15.47 % $ 22,071,880 14.79 % For capital adequacy purposes 12,178,320 8.00 % 11,937,040 8.00 % To be well capitalized 15,222,900 10.00 % 14,921,300 10.00 % Tier 1 capital (to average assets) Actual $ 22,034,427 9.85 % $ 20,888,619 10.66 % For capital adequacy purposes 8,950,287 4.00 % 7,834,802 4.00 % To be well capitalized 11,187,859 5.00 % 9,793,503 5.00 % The Bank’s actual capital amounts and ratios are presented in the table below. September 30, December 31, 2020 2019 Amount Ratio Amount Ratio (unaudited) Common Equity Tier 1 capital (to risk-weighted assets) Actual $ 18,384,574 12.08 % $ 17,287,045 11.59 % For capital adequacy purposes 6,850,305 4.50 % 6,714,585 4.50 % To be well capitalized 9,894,885 6.50 % 9,698,845 6.50 % Tier 1 capital (to risk-weighted assets) Actual $ 18,384,574 12.08 % $ 17,287,045 11.59 % For capital adequacy purposes 9,133,740 6.00 % 8,952,780 6.00 % To be well capitalized 12,178,320 8.00 % 11,937,040 8.00 % Total capital (to risk-weighted assets) Actual $ 19,905,600 13.08 % $ 18,470,306 12.38 % For capital adequacy purposes 12,178,320 8.00 % 11,937,040 8.00 % To be well capitalized 15,222,900 10.00 % 14,921,300 10.00 % Tier 1 capital (to average assets) Actual $ 18,384,574 8.22 % $ 17,287,045 8.83 % For capital adequacy purposes 8,950,109 4.00 % 7,834,797 4.00 % To be well capitalized 11,187,637 5.00 % 9,793,496 5.00 %

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Off-Balance Sheet Commitments	Off-balance sheet commitments consist of the following: September 30, 2020 (unaudited) Commitments to extend credit $ 9,065,490 Construction unadvanced funds 5,167,309 Unused lines of credit 10,266,618 Letters of credit 4,776,766 $ 29,276,183

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets Reported on Balance Sheets Fair Value on Recurring Basis	The following tables present the assets reported on the balance sheets at their fair value by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2020 (unaudited) Level I Level II Level III Total Fair value measurements on a recurring basis: Mortgage-backed securities in government-sponsored entities $ - $ 2,231,017 $ - $ 2,231,017 Obligations of state and political subdivisions - 1,293,315 - 1,293,315 Corporate bonds - 3,951,344 - 3,951,344 Mortgage servicing rights - - 610,399 610,399 Impaired loans with reserve - - 2,244,058 2,244,058 December 31, 2019 Level I Level II Level III Total Fair value measurements on a recurring basis: Mortgage-backed securities in government-sponsored entities $ - $ 5,281,328 $ - $ 5,281,328 Obligations of state and political subdivisions - 1,365,705 - 1,365,705 Corporate bonds - 3,202,566 - 3,202,566 Mortgage servicing rights - - 317,939 317,939 Impaired loans with reserve - - 115,304 115,304
Schedule of Assets Reported on Balance Sheets Fair Value on Nonrecurring Basis	September 30, 2020 (unaudited) Level I Level II Level III Total Fair value measurements on a nonrecurring basis: Other real estate owned $ - $ - $ - $ - December 31, 2019 Level I Level II Level III Total Fair value measurements on a nonrecurring basis: Other real estate owned $ - $ - $ 45,000 $ 45,000
Schedule of Significant Unobservable Inputs Used in Fair Value Measurement Process	The following table provides the significant unobservable inputs used in the fair value measurement process for items valued using Level III techniques: Fair Value at Valuation Range September 30, Valuation Unobservable (Weighted 2020 Techniques Inputs Average) (unaudited) Other real estate owned $ - Appraised collateral values Discount for time since appraisal 10 % (10 )% Selling costs 10 % (10 )% Impaired loans with reserve 2,244,058 Discounted cash flows Discount for evaluation 10 % (10 )% Selling costs 10 % (10 )% Mortgage servicing rights 610,399 Discounted cash flows Loan prepayment speeds 8.49% - 10.63 % (10.02 )% Fair Value at Valuation Range December 31, Valuation Unobservable (Weighted 2019 Techniques Inputs Average) Other real estate owned $ 45,000 Appraised collateral values Discount for time since appraisal 10 % (10 )% Selling costs 10 % (10 )% Impaired loans with reserve 115,304 Discounted cash flows Discount for evaluation 10 % (10 )% Selling costs 10 % (10 )% Mortgage servicing rights 317,939 Discounted cash flows Loan prepayment speeds 8.49%-10.52 % (9.38 )%
Schedule of Estimated Fair Values of Company's Financial Instruments	The estimated fair values of the Company’s financial instruments are as follows: September 30, 2020 (unaudited) Carrying Value Fair Value Level I Level II Level III Financial assets: Cash and cash equivalents $ 36,164,269 $ 36,164,269 $ 36,164,269 $ - $ - Certificates of deposit 3,955,000 4,187,000 - 4,187,000 - Investment securities: Available for sale 7,475,676 7,475,676 - 7,475,676 - Held to maturity 2,374 2,422 - 2,422 - Loans, net 165,861,820 174,018,820 - - 174,018,820 Accrued interest receivable 1,132,240 1,132,240 - 1,132,240 - FHLB Stock 3,849,200 3,849,200 - - 3,849,200 Financial liabilities: Deposits 162,798,595 166,010,595 82,066,667 - 83,943,928 FHLB advances 24,250,000 25,702,000 - 25,702,000 - PPPLF advances 17,292,786 17,318,786 - 17,318,786 - Accrued interest payable 288,725 288,725 - 288,725 - December 31, 2019 Carrying Value Fair Value Level I Level II Level III Financial assets: Cash and cash equivalents $ 21,880,788 $ 21,880,788 $ 21,880,788 $ - $ - Certificates of deposit 2,465,000 2,576,000 - 2,576,000 - Investment securities: Available for sale 9,849,599 9,849,599 - 9,849,599 - Held to maturity 3,879 3,932 - 3,932 - Loans, net 156,112,115 163,239,115 - - 163,239,115 Accrued interest receivable 673,026 673,026 - 673,026 - FHLB Stock 2,924,600 2,924,600 - - 2,924,600 Financial liabilities: Deposits 149,020,729 150,700,557 55,206,337 - 95,494,220 FHLB advances 31,374,500 31,773,500 - 31,773,500 - Accrued interest payable 331,133 331,133 - 331,133 -

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax: Net Unrealized Gain (Loss) on Securities Three months ended September 30, 2020 2019 (unaudited) Accumulated other comprehensive income (loss), beginning of period $ 134,718 $ 53,009 Other comprehensive income (loss) on securities before reclassification, net of tax 31,209 (40,105 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax - - Net other comprehensive income (loss) 31,209 (40,105 ) Accumulated other comprehensive income (loss), end of period $ 165,927 $ 12,904 Net Unrealized Gain (Loss) on Securities Nine months ended September 30, 2020 2019 (unaudited) Accumulated other comprehensive income (loss), beginning of period $ (5,421 ) $ (74,623 ) Other comprehensive income (loss) on securities before reclassification, net of tax 199,446 127,496 Amounts reclassified from accumulated other comprehensive income (loss), net of tax (28,098 ) (39,969 ) Net other comprehensive income (loss) 171,348 87,527 Accumulated other comprehensive income (loss), end of period $ 165,927 $ 12,904

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
EARNINGS PER COMMON SHARE
Schedule of Computation of Earnings Per Share	Earnings per common share for the three and nine months ended September 30, 2020 and 2019, are represented in the following tables. Three months ended Three months ended September 30, 2020 September 30, 2019 (unaudited) Net Income $ 476,052 $ 89,553 Shares outstanding for basic EPS: Average shares outstanding 2,253,658 2,248,805 Less: Average unearned ESOP shares 76,739 81,146 Shares outstanding for basic EPS 2,176,919 2,167,659 Additional dilutive shares - - Shares oustanding for diluted EPS 2,176,919 2,167,659 Basic income per share $ 0.22 $ 0.04 Diluted income per share $ 0.22 $ 0.04 Nine months ended Nine months ended September 30, 2020 September 30, 2019 (unaudited) Net Income $ 1,079,018 $ 306,836 Shares outstanding for basic EPS: Average shares outstanding 2,252,234 2,248,458 Less: Average unearned ESOP shares 77,834 82,237 Shares outstanding for basic EPS 2,174,400 2,166,221 Additional dilutive shares - 221 Shares oustanding for diluted EPS 2,174,400 2,166,442 Basic income per share $ 0.50 $ 0.14 Diluted income per share $ 0.50 $ 0.14

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Weighted-Average Lease Term and Discount Rate	The following table presents the weighted-average lease term and discount rate for the lease outstanding at September 30, 2020. Operating Weighted-average remaining term (years) 0.8 Weighted-average discount rate 1.87 %
Schedule of Undiscounted Cash Flows Due to Operating Leases	The following table presents the undiscounted cash flows due to operating leases as of September 30, 2020, along with a reconciliation to the discounted amount recorded on the Consolidated Balance Sheets: Undiscounted cash flows due: Operating Within 1 year $ 5,000 After 1 year but within 2 years - After 2 years - Total undiscounted cash flows 5,000 Discount on cash flows (43 ) Total lease liabilities $ 4,957

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue Recognition [Abstract]
Schedule of Point of Revenue Recognition and Income Recognized	The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and nine months ended September 30, 2020 and 2019: For the three months ended September 30, Revenue Streams Point of revenue recognition 2020 2019 Service charges on deposits At a point in time & over time $ 1,085 $ 2,556 Electronic banking fees At a point in time $ 18,699 $ 8,613 Mortgage banking income At a point in time $ 629,200 $ 85,485 For the nine months ended September 30, Revenue Streams Point of revenue recognition 2020 2019 Service charges on deposits At a point in time & over time $ 5,064 $ 5,985 Electronic banking fees At a point in time $ 39,299 $ 22,143 Mortgage banking income At a point in time $ 1,409,595 $ 234,124

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Details Narrative) - $ / shares	Jan. 25, 2018	Jan. 25, 2018	Jan. 24, 2018	Sep. 30, 2020
Nature Of Operations And Basis Of Presentation [Line Items]
Number of shares purchase for employee stock ownership program				88,131
Plan of Mutual Holding Company Reorganization and Minority Stock Issuance [Member]
Nature Of Operations And Basis Of Presentation [Line Items]
Number of common stock share issued			1,011,712
Stock price per share			$ 10
Plan of Mutual Holding Company Reorganization and Minority Stock Issuance [Member] | Employee Stock Option [Member]
Nature Of Operations And Basis Of Presentation [Line Items]
Stock price per share	$ 10	$ 10
Number of shares purchase for employee stock ownership program		88,131
Plan of Mutual Holding Company Reorganization and Minority Stock Issuance [Member] | Subsidiaries [Member]
Nature Of Operations And Basis Of Presentation [Line Items]
Number of common stock share issued	1,236,538

Recent Accounting Standards (De

Recent Accounting Standards (Details Narrative) - Accounting Standards Update 2016-02 [Member]	Sep. 30, 2020USD ($)
Operating right-of-use assets	$ 4,957
Operating lease liabilities	$ 4,957

Securities Available for Sale_2

Securities Available for Sale (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale	$ 1,044,000	$ 2,943,675
2 Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, amortized cost basis	1,008,433
Associated gain on sale of securities available for sale	35,567
Proceeds from sale	$ 1,044,000
6 Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, amortized cost basis		2,751,221
Associated gain on sale of securities available for sale		49,454
Proceeds from sale		2,800,675
1 Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, amortized cost basis		141,861
Associated gain on sale of securities available for sale		1,139
Proceeds from sale		$ 143,000
Mortgage-backed Securities in Government-Sponsored Entities [Member] | Minimum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual maturities range in years	1 year
Mortgage-backed Securities in Government-Sponsored Entities [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Contractual maturities range in years	30 years

Securities Available for Sale -

Securities Available for Sale - Schedule of Securities Available for Sale (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 7,266,044	$ 9,856,862
Gross Unrealized Gains	216,294	47,031
Gross Unrealized Losses	(6,662)	(54,294)
Fair Value	7,475,676	9,849,599
Mortgage-backed Securities in Government-Sponsored Entities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,231,569	5,303,817
Gross Unrealized Gains	6,110	19,894
Gross Unrealized Losses	(6,662)	(42,383)
Fair Value	2,231,017	5,281,328
Obligations of State and Political Subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,254,735	1,363,535
Gross Unrealized Gains	38,580	2,174
Gross Unrealized Losses		(4)
Fair Value	1,293,315	1,365,705
Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,779,740	3,189,510
Gross Unrealized Gains	171,604	24,963
Gross Unrealized Losses		(11,907)
Fair Value	$ 3,951,344	$ 3,202,566

Securities Available for Sale_3

Securities Available for Sale - Schedule of Contractual Maturities (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Amortized Cost: Due within one year or less	$ 100,008
Amortized Cost: Due after one year through five years	1,839,162
Amortized Cost: Due after five years through ten years	3,125,461
Amortized Cost: Due after ten years	2,201,413
Amortized Cost: Total	7,266,044	$ 9,856,862
Fair Value: Due within one year or less	100,169
Fair Value: Due after one year through five years	1,886,613
Fair Value: Due after five years through ten years	3,287,985
Fair Value: Due after ten years	2,200,909
Fair Value: Total	$ 7,475,676	$ 9,849,599

Securities Held to Maturity (De

Securities Held to Maturity (Details Narrative)	9 Months Ended
	Sep. 30, 2020
Mortgage-backed Securities in Government-Sponsored Entities [Member]
Contractual maturities range in years	Contractual maturities ranging up to 8 years.

Securities Held to Maturity - S

Securities Held to Maturity - Schedule of Securities Held to Maturity (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,374	$ 3,879
Gross Unrealized Gains	48	53
Gross Unrealized Losses
Fair Value	2,422	3,932
Mortgage-backed Securities in Government-Sponsored Entities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,374	3,879
Gross Unrealized Gains	48	53
Gross Unrealized Losses
Fair Value	$ 2,422	$ 3,932

Securities Held to Maturity -_2

Securities Held to Maturity - Schedule of Contractual Maturities (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost	$ 2,374	$ 3,879
Fair Value	2,422	3,932
Mortgage-backed Securities in Government-Sponsored Entities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized cost, Due within one year or less	665
Amortized cost, Due after one year through five years	640
Amortized cost, Due after five years through nine years	1,069
Amortized cost	2,374	3,879
Fair Value, Due within one year or less	665
Fair Value, Due after one year through five years	648
Fair Value, Due after five years through nine years	1,109
Fair Value	$ 2,422	$ 3,932

Unrealized Losses on Securiti_3

Unrealized Losses on Securities (Details Narrative) - Integer	Sep. 30, 2020	Dec. 31, 2019
Number of temporarily impaired investments securities	6	11
Company's Amortized Cost Basis [Member]
Threshold limit of aggregate depreciation	0.10%	0.60%

Unrealized Losses on Securiti_4

Unrealized Losses on Securities - Schedule of Unrealized Loss on Securities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Investment Securities [Line Items]
Less than Twelve Months, Fair Value	$ 1,747,155	$ 5,099,287
Less Than Twelve Months, Gross Unrealized Losses	(6,662)	(52,903)
Twelve Months or Greater, Fair Value		273,818
Twelve Months or Greater, Gross Unrealized Losses		(1,391)
Total, Fair Value	1,747,155	5,373,105
Total, Gross Unrealized Losses	(6,662)	(54,294)
Mortgage-backed Securities in Government-Sponsored Entities [Member]
Schedule Of Investment Securities [Line Items]
Less than Twelve Months, Fair Value	1,747,155	3,005,336
Less Than Twelve Months, Gross Unrealized Losses	(6,662)	(40,992)
Twelve Months or Greater, Fair Value		273,818
Twelve Months or Greater, Gross Unrealized Losses		(1,391)
Total, Fair Value	1,747,155	3,279,154
Total, Gross Unrealized Losses	(6,662)	(42,383)
Obligations of State and Political Subdivisions [Member]
Schedule Of Investment Securities [Line Items]
Less than Twelve Months, Fair Value		24,996
Less Than Twelve Months, Gross Unrealized Losses		(4)
Twelve Months or Greater, Fair Value
Twelve Months or Greater, Gross Unrealized Losses
Total, Fair Value		24,996
Total, Gross Unrealized Losses		(4)
Corporate Bonds [Member]
Schedule Of Investment Securities [Line Items]
Less than Twelve Months, Fair Value		2,068,955
Less Than Twelve Months, Gross Unrealized Losses		(11,907)
Twelve Months or Greater, Fair Value
Twelve Months or Greater, Gross Unrealized Losses
Total, Fair Value		2,068,955
Total, Gross Unrealized Losses		$ (11,907)

Loans (Details Narrative)

Loans (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Loans sold	$ 13,800,000	$ 9,900,000
Increase in loan	$ 5,700,000

Loans - Schedule of Loan Portfo

Loans - Schedule of Loan Portfolio by Category (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Loans, Gross	$ 167,826,436		$ 157,311,117
Third-party loan acquisition and other net origination costs	(310,452)		147,441
Discount on loans previously held for sale	(133,138)		(163,182)
Allowance for loan losses	(1,521,026)	$ (1,423,561)	(1,183,261)	$ (1,159,457)	$ (1,157,109)	$ (1,124,925)
Total	165,861,820		156,112,115
Mortgage Loans One-to-Four Family [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans, Gross	67,431,099		70,511,775
Mortgage Loans Commercial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans, Gross	49,890,849		57,117,861
Mortgage Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans, Gross	117,321,948		127,629,636
Commercial and Industrial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans, Gross	44,389,902		23,990,540
Allowance for loan losses	(290,737)	$ (291,790)	(170,769)	$ (221,689)	$ (276,496)	$ (263,721)
Consumer [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans, Gross	$ 6,114,586		$ 5,690,941

Allowance for Loan Losses (Deta

Allowance for Loan Losses (Details Narrative)	9 Months Ended
	Sep. 30, 2020USD ($)Integer	Dec. 31, 2019USD ($)
Financing Receivable, Impaired [Line Items]
Number of loans | Integer	3
Recorded investment of all loans modified as troubled debt restructurings	$ 204,202	$ 43,180
One Large Commercial and Industrial Relationships [Member]
Financing Receivable, Impaired [Line Items]
Increase in total past due	$ 1,300,000
One-to-Four Family Mortgage Loan [Member]
Financing Receivable, Impaired [Line Items]
Number of loans | Integer	1
Troubled debt restructuring modification balance	$ 323,140
Commercial and Industrial Loans [Member]
Financing Receivable, Impaired [Line Items]
Number of loans | Integer	3
Troubled debt restructuring modification balance	$ 1,323,422

Allowance for Loan Losses - Sch

Allowance for Loan Losses - Schedule of Changes in Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses Beginning balance	$ 1,423,561	$ 1,157,109	$ 1,183,261	$ 1,124,925
Allowance for loan losses Charge-offs	(2,534)	(50,652)	(2,534)	(115,041)
Allowance for loan losses Recoveries				1,073
Allowance for loan losses Provision (credit)	99,999	53,000	340,299	148,500
Allowance for loan losses Ending balance	1,521,026	1,159,457	1,521,026	1,159,457
Mortgage One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses Beginning balance	621,527	446,697	543,090	422,539
Allowance for loan losses Charge-offs				(28,268)
Allowance for loan losses Recoveries
Allowance for loan losses Provision (credit)	83,118	(28,069)	161,555	24,357
Allowance for loan losses Ending balance	704,645	418,628	704,645	418,628
Mortgage Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses Beginning balance	442,659	386,720	443,897	393,900
Allowance for loan losses Charge-offs				(22,932)
Allowance for loan losses Recoveries
Allowance for loan losses Provision (credit)	10,310	106,147	9,072	121,899
Allowance for loan losses Ending balance	452,969	492,867	452,969	492,867
Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses Beginning balance	291,790	276,496	170,769	263,721
Allowance for loan losses Charge-offs		(50,652)		(50,652)
Allowance for loan losses Recoveries				1,073
Allowance for loan losses Provision (credit)	(1,053)	(4,155)	119,968	7,547
Allowance for loan losses Ending balance	290,737	221,689	290,737	221,689
Consumer and HELOC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses Beginning balance	67,585	47,196	25,505	44,765
Allowance for loan losses Charge-offs	(2,534)		(2,534)	(13,189)
Allowance for loan losses Recoveries
Allowance for loan losses Provision (credit)	7,624	(20,923)	49,704	(5,303)
Allowance for loan losses Ending balance	$ 72,675	$ 26,273	$ 72,675	$ 26,273

Allowance for Loan Losses - S_2

Allowance for Loan Losses - Schedule of Primary Segments of Loan Portfolio (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	$ 1,521,026	$ 1,423,561	$ 1,183,261	$ 1,159,457	$ 1,157,109	$ 1,124,925
Loans	167,826,436		157,311,117
Loans Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	275,145		43,180
Loans	8,038,078		7,971,533
Loans Not Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	1,245,881		1,140,081
Loans	159,788,358		149,339,584
Mortgage One-to-Four Family [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	704,645	621,527	543,090	418,628	446,697	422,539
Loans	67,431,099		70,511,775
Mortgage One-to-Four Family [Member] | Loans Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	226,509		43,180
Loans	3,666,672		543,090
Mortgage One-to-Four Family [Member] | Loans Not Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	478,136		499,910
Loans	63,764,427		66,599,478
Mortgage Commercial [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	452,969	442,659	443,897	492,867	386,720	393,900
Loans	49,890,849		57,117,861
Mortgage Commercial [Member] | Loans Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	40,029
Loans	2,603,114		443,897
Mortgage Commercial [Member] | Loans Not Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	412,940		443,897
Loans	47,287,735		54,644,971
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	290,737	291,790	170,769	221,689	276,496	263,721
Loans	44,389,902		23,990,540
Commercial and Industrial [Member] | Loans Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses
Loans	1,618,200		1,398,286
Commercial and Industrial [Member] | Loans Not Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	290,737		170,769
Loans	42,771,702		22,592,254
Consumer and HELOC [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	72,675	$ 67,585	25,505	$ 26,273	$ 47,196	$ 44,765
Loans	6,114,586		5,690,941
Consumer and HELOC [Member] | Loans Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	8,607
Loans	150,092		170,769
Consumer and HELOC [Member] | Loans Not Deemed Impaired [Member]
Financing Receivable, Impaired [Line Items]
Allowance for loan losses	64,068		25,505
Loans	$ 5,964,494		$ 5,502,881

Allowance for Loan Losses - S_3

Allowance for Loan Losses - Schedule of Impaired Loans by Class (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 8,038,078	$ 7,971,533
Unpaid Principal Balance	8,619,040	8,101,474
Related Allowance	275,145	43,180
Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Recorded Investment	2,153,472	3,753,813
With no allowance recorded: Unpaid Principal Balance	2,669,430	3,785,265
With no allowance recorded: Related Allowance
With an allowance recorded: Recorded Investment	1,513,200	158,484
With an allowance recorded: Unpaid Principal Balance	1,515,745	158,547
With an allowance recorded: Related Allowance	226,509	43,180
Recorded Investment	3,666,672	3,912,297
Unpaid Principal Balance	4,185,175	3,943,812
Related Allowance	226,509	43,180
Mortgage Loans Commercial [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Recorded Investment	1,597,110	2,472,890
With no allowance recorded: Unpaid Principal Balance	1,606,218	2,497,469
With no allowance recorded: Related Allowance
With an allowance recorded: Recorded Investment	1,006,004
With an allowance recorded: Unpaid Principal Balance	1,034,020
With an allowance recorded: Related Allowance	40,029
Recorded Investment	2,603,114	2,472,890
Unpaid Principal Balance	2,640,238	2,497,469
Related Allowance	40,029
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Recorded Investment	1,618,200	1,398,286
With no allowance recorded: Unpaid Principal Balance	1,635,286	1,465,938
With no allowance recorded: Related Allowance
With an allowance recorded: Recorded Investment
With an allowance recorded: Unpaid Principal Balance
With an allowance recorded: Related Allowance
Recorded Investment	1,618,200	1,398,286
Unpaid Principal Balance	1,635,286	1,465,938
Related Allowance
Consumer and HELOC [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Recorded Investment	150,092	188,060
With no allowance recorded: Unpaid Principal Balance	158,341	194,255
With no allowance recorded: Related Allowance
With an allowance recorded: Recorded Investment
With an allowance recorded: Unpaid Principal Balance
With an allowance recorded: Related Allowance	8,607
Recorded Investment	150,092	188,060
Unpaid Principal Balance	158,341	194,255
Related Allowance	$ 8,607

Allowance for Loan Losses - S_4

Allowance for Loan Losses - Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	$ 8,028,427	$ 6,593,774	$ 8,113,523	$ 5,154,679
Interest Income Recognized	97,096	26,745	238,728	82,190
Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Average Recorded Investment	2,169,928	3,592,680	2,329,534	2,655,914
With no allowance recorded: Interest Income Recognized	25,242	12,468	43,041	42,401
With an allowance recorded: Average Recorded Investment	1,514,346	161,372	1,474,758	163,879
With an allowance recorded: Interest Income Recognized	16,457	766	34,873	2,372
Average Recorded Investment	3,684,274	3,754,052	3,804,292	2,819,793
Interest Income Recognized	41,699	13,234	77,914	44,773
Mortgage Loans Commercial [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Average Recorded Investment	1,589,065	2,292,069	1,553,074	2,044,432
With no allowance recorded: Interest Income Recognized	22,583	13,511	59,962	37,417
With an allowance recorded: Average Recorded Investment	985,620		968,159
With an allowance recorded: Interest Income Recognized	7,500		7,500
Average Recorded Investment	2,574,685	2,292,069	2,521,233	2,044,432
Interest Income Recognized	30,083	13,511	67,462	37,417
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Average Recorded Investment	1,618,200	541,458	1,618,257	284,259
With no allowance recorded: Interest Income Recognized	24,105		88,600
With an allowance recorded: Average Recorded Investment
With an allowance recorded: Interest Income Recognized
Average Recorded Investment	1,618,200	541,458	1,618,257	284,259
Interest Income Recognized	24,105		88,600
Consumer and HELOC [Member]
Financing Receivable, Impaired [Line Items]
With no allowance recorded: Average Recorded Investment	151,268	6,195	153,595	6,195
With no allowance recorded: Interest Income Recognized	1,209		4,752
With an allowance recorded: Average Recorded Investment			16,146
With an allowance recorded: Interest Income Recognized
Average Recorded Investment	151,268	6,195	169,741	6,195
Interest Income Recognized	$ 1,209		$ 4,752

Allowance for Loan Losses - S_5

Allowance for Loan Losses - Schedule of Classes of Loan Portfolio by Aging (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 3,253,907	$ 4,532,000
Current	164,572,529	152,779,117
Total Loans Receivable	167,826,436	157,311,117
90 Days or Greater Past Due and Still Accruing	656,176	645,201
Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,432,957	2,994,492
Current	65,998,142	67,517,283
Total Loans Receivable	67,431,099	70,511,775
90 Days or Greater Past Due and Still Accruing
Mortgage Loans Commercial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,513,935	1,241,871
Current	48,376,914	55,875,990
Total Loans Receivable	49,890,849	57,117,861
90 Days or Greater Past Due and Still Accruing	656,176	645,201
Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	220,000	252,261
Current	44,169,902	23,738,279
Total Loans Receivable	44,389,902	23,990,540
90 Days or Greater Past Due and Still Accruing
Consumer and HELOC [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	87,015	43,376
Current	6,027,571	5,647,565
Total Loans Receivable	6,114,586	5,690,941
90 Days or Greater Past Due and Still Accruing
30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,048,954	655,968
30 to 59 Days Past Due [Member] | Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	296,689	338,997
30 to 59 Days Past Due [Member] | Mortgage Loans Commercial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	665,250	280,198
30 to 59 Days Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		32,261
30 to 59 Days Past Due [Member] | Consumer and HELOC [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	87,015	4,512
60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		1,214,746
60 to 89 Days Past Due [Member] | Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		856,490
60 to 89 Days Past Due [Member] | Mortgage Loans Commercial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		138,256
60 to 89 Days Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		220,000
60 to 89 Days Past Due [Member] | Consumer and HELOC [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
90 Days or Greater Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	2,204,953	2,661,286
90 Days or Greater Past Due [Member] | Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,136,268	1,799,005
90 Days or Greater Past Due [Member] | Mortgage Loans Commercial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	848,685	823,417
90 Days or Greater Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	220,000
90 Days or Greater Past Due [Member] | Consumer and HELOC [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		$ 38,864

Allowance for Loan Losses - S_6

Allowance for Loan Losses - Schedule of Loans on Nonaccrual Status (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Loans on nonaccrual status	$ 2,213,950	$ 3,215,449
Mortgage Loans One-to-Four Family [Member]
Financing Receivable, Past Due [Line Items]
Loans on nonaccrual status	1,743,765	2,045,845
Mortgage Loans Commercial [Member]
Financing Receivable, Past Due [Line Items]
Loans on nonaccrual status	249,375	1,055,876
Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Loans on nonaccrual status	219,914	74,864
Consumer and HELOC [Member]
Financing Receivable, Past Due [Line Items]
Loans on nonaccrual status	$ 896	$ 38,864

Allowance for Loan Losses - S_7

Allowance for Loan Losses - Schedule of Risk Category of Loans (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	$ 167,826,436	$ 157,311,117
Mortgage Commercial [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	49,890,849	57,117,861
Mortgage Commercial [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	47,426,565	54,749,767
Mortgage Commercial [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	16,285	24,658
Mortgage Commercial [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	2,447,999	2,343,436
Commercial and Industrial [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	44,389,902	23,990,540
Commercial and Industrial [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	42,704,132	23,848,823
Commercial and Industrial [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	1,543,337
Commercial and Industrial [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	$ 142,433	$ 141,717

Allowance for Loan Losses - S_8

Allowance for Loan Losses - Schedule of Balances of Loans by Class Based on Payment Performance (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	$ 167,826,436	$ 157,311,117
Mortgage One-to-Four Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	67,431,099	70,511,775
Consumer and HELOC [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	6,114,586	5,690,941
Performing Financial Instruments [Member] | Mortgage One-to-Four Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	65,687,334	68,465,930
Performing Financial Instruments [Member] | Consumer and HELOC [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	6,113,690	5,652,077
Nonperforming Financial Instruments [Member] | Mortgage One-to-Four Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	1,743,765	2,045,845
Nonperforming Financial Instruments [Member] | Consumer and HELOC [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans Receivable	$ 896	$ 38,864

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares purchase for employee stock ownership plan		88,131
Compensation expense	$ 7,678	$ 23,740
Employee Stock Option [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		20.00%
Vesting period		2 years
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		40.00%
Vesting period		3 years
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		60.00%
Vesting period		4 years
Employee Stock Option [Member] | Share Based Compensation Award Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		80.00%
Vesting period		5 years
Employee Stock Option [Member] | Share Based Compensation Award Tranche Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		100.00%
Vesting period		6 years

Stock Compensation Plan (Detail

Stock Compensation Plan (Details Narrative) - USD ($)	May 23, 2019	May 31, 2019	Sep. 30, 2020	Sep. 30, 2020
Exercise of stock options
Stock options outstanding were exercisable			5,508	5,508
Stock options outstanding not yet exercisable			22,032	22,032
Exercise price of stock options			$ 8.35	$ 8.35
Weighted average remaining contractual life				9 years
Pretax compensation expense			$ 7,678	$ 23,740
Stock Options [Member]
Pretax compensation expense			3,000	9,000
Unrecognized compensation expense			48,000	48,000
Restricted Stock [Member]
Pretax compensation expense			11,000	34,000
Unrecognized compensation expense			$ 176,000	$ 176,000
2019 Equity Incentive Plan [Member]
Authorizing the grant of options or restricted stock		154,229
Exercise of stock options		110,164
Maximum number of shares of stock issued as restricted stock awards, restricted stock units, or performances shares		44,065
Stock option, description		The option price at which a granted stock option may be exercised will not be less than 100% of the fair market value per share of common stock on the grant date. The maximum term of any option granted under the Plan cannot exceed 10 years.
Shares of restricted stock and stock options vesting percentage	20.00%
2019 Equity Incentive Plan [Member] | Directors [Member] | Stock Options [Member]
Number of shares awarded	27,540
Stock options available to be issued			38,558	38,558
2019 Equity Incentive Plan [Member] | Directors [Member] | Stock Options [Member] | November 20, 2020 [Member]
Number of shares awarded	44,066
Stock options outstanding were exercisable			66,098	66,098
Stock options outstanding not yet exercisable			44,066	44,066
Exercise price of stock options			$ 7.60	$ 7.60
2019 Equity Incentive Plan [Member] | Directors [Member] | Restricted Stock [Member]
Number of shares awarded	11,015
Stock options available to be issued			15,424	15,424
2019 Equity Incentive Plan [Member] | Directors [Member] | Restricted Stock [Member] | November 20, 2020 [Member]
Number of shares awarded	17,626

Stock Compensation Plan - Sched

Stock Compensation Plan - Schedule of Nonvested Restricted Stock Under Plan (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Number of restricted shares, Non-vested, Beginning	26,438	28,641
Number of restricted shares, Non-vested, Granted
Number of restricted shares, Non-vested, Vested		2,203
Number of restricted shares, Non-vested, Forfeited
Number of restricted shares, Non-vested, Ending	26,438	26,438
Weighted average grant date price per share, Non-vested, Beginning	$ 7.85	$ 7.89
Weighted average grant date price per share, Non-vested, Granted
Weighted average grant date price per share, Non-vested, Vested		8.35
Weighted average grant date price per share, Non-vested, Forfeited
Weighted average grant date price per share, Non-vested, Ending	$ 7.85	$ 7.85

Stock Compensation Plan - Sch_2

Stock Compensation Plan - Schedule of Stock Option Activity (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Retirement Benefits [Abstract]
Number of shares, Outstanding, Beginning	71,606	71,606
Number of shares, Granted
Number of shares, Exercised
Number of shares, Forfeited
Number of shares, Outstanding, Ending	71,606	71,606
Number of shares, Exercisable, Ending	5,508	5,508
Weighted Average Exercise Price, Outstanding Beginning	$ 7.89	$ 7.89
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Outstanding Ending	7.89	7.89
Weighted Average Exercise Price, Exercisable Ending	8.35	8.35
Weighted average exercise price of options granted in current year
Weighted Average Fair Value, Outstanding Beginning	0.95	0.95
Weighted Average Fair Value, Granted
Weighted Average Fair Value, Exercised
Weighted Average Fair Value, Forfeited
Weighted Average Fair Value, Outstanding Ending	0.95	0.95
Weighted Average Fair Value, Exercisable Ending	0.97	0.97
Weighted average fair value of options granted in current year

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Schedule of Actual Capital Amounts and Ratios (Details)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Company's Actual Capital and Ratios [Member]
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount	$ 22,034,427	$ 20,888,619
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio	0.1447	0.1400
Common equity Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Amount	$ 6,850,305	$ 6,714,585
Common equity Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Ratio	4.50%	4.50%
Common equity Tier 1 capital (to risk-weighted assets), To be well capitalized Amount	$ 9,894,885	$ 9,698,845
Common equity Tier 1 capital (to risk-weighted assets), To be well capitalized Ratio	6.50%	6.50%
Tier 1 capital (to risk-weighted assets), Actual Amount	$ 22,034,427	$ 20,888,619
Tier 1 capital (to risk-weighted assets), Actual Ratio	0.1447	0.1400
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Amount	$ 9,133,740	$ 8,952,780
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Ratio	0.0600	0.0600
Tier 1 capital (to risk-weighted assets), To be well capitalized Amount	$ 12,178,320	$ 11,937,040
Tier 1 capital (to risk-weighted assets), To be well capitalized Ratio	0.0800	0.0800
Total capital (to risk-weighted assets), Actual Amount	$ 23,555,453	$ 22,071,880
Total capital (to risk-weighted assets), Actual Ratio	0.1547	0.1479
Total capital (to risk-weighted assets), For capital adequacy purposes Amount	$ 12,178,320	$ 11,937,040
Total capital (to risk-weighted assets), For capital adequacy purposes Ratio	0.0800	0.0800
Total capital (to risk-weighted assets), To be well capitalized Amount	$ 15,222,900	$ 14,921,300
Total capital (to risk-weighted assets), To be well capitalized Ratio	0.1000	0.1000
Tier 1 capital (to average assets), Actual Amount	$ 22,034,427	$ 20,888,619
Tier 1 capital (to average assets), Actual Ratio	0.0985	0.1066
Tier 1 capital (to average assets), For capital adequacy purposes Amount	$ 8,950,287	$ 7,834,802
Tier 1 capital (to average assets), For capital adequacy purposes Ratio	0.0400	0.0400
Tier 1 capital (to average assets), To be well capitalized Amount	$ 11,187,859	$ 9,793,503
Tier 1 capital (to average assets), To be well capitalized Ratio	0.0500	0.0500
Bank's Actual Capital and Ratios [Member]
Common equity Tier 1 capital (to risk-weighted assets), Actual Amount	$ 18,384,574	$ 17,287,045
Common equity Tier 1 capital (to risk-weighted assets), Actual Ratio	0.1208	0.1159
Common equity Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Amount	$ 6,850,305	$ 6,714,585
Common equity Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Ratio	4.50%	4.50%
Common equity Tier 1 capital (to risk-weighted assets), To be well capitalized Amount	$ 9,894,885	$ 9,698,845
Common equity Tier 1 capital (to risk-weighted assets), To be well capitalized Ratio	6.50%	6.50%
Tier 1 capital (to risk-weighted assets), Actual Amount	$ 18,384,574	$ 17,287,045
Tier 1 capital (to risk-weighted assets), Actual Ratio	0.1208	0.1159
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Amount	$ 9,133,740	$ 8,952,780
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes Ratio	0.0600	0.0600
Tier 1 capital (to risk-weighted assets), To be well capitalized Amount	$ 12,178,320	$ 11,937,040
Tier 1 capital (to risk-weighted assets), To be well capitalized Ratio	0.0800	0.0800
Total capital (to risk-weighted assets), Actual Amount	$ 19,905,600	$ 18,470,306
Total capital (to risk-weighted assets), Actual Ratio	0.1308	0.1238
Total capital (to risk-weighted assets), For capital adequacy purposes Amount	$ 12,178,320	$ 11,937,040
Total capital (to risk-weighted assets), For capital adequacy purposes Ratio	0.0800	0.0800
Total capital (to risk-weighted assets), To be well capitalized Amount	$ 15,222,900	$ 14,921,300
Total capital (to risk-weighted assets), To be well capitalized Ratio	0.1000	0.1000
Tier 1 capital (to average assets), Actual Amount	$ 18,384,574	$ 17,287,045
Tier 1 capital (to average assets), Actual Ratio	0.0822	0.0883
Tier 1 capital (to average assets), For capital adequacy purposes Amount	$ 8,950,109	$ 7,834,797
Tier 1 capital (to average assets), For capital adequacy purposes Ratio	0.0400	0.0400
Tier 1 capital (to average assets), To be well capitalized Amount	$ 11,187,637	$ 9,793,496
Tier 1 capital (to average assets), To be well capitalized Ratio	0.0500	0.0500

Commitments - Schedule of Off-B

Commitments - Schedule of Off-Balance Sheet Commitments (Details)	Sep. 30, 2020USD ($)
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments	$ 29,276,183
Commitments to Extend Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments	9,065,490
Construction Unadvanced Funds [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments	5,167,309
Unused Lines of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments	10,266,618
Letters of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments	$ 4,776,766

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Reported on Balance Sheets Fair Value on Recurring Basis (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 7,475,676	$ 9,849,599
Mortgage-backed Securities in Government-Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,231,017	5,281,328
Obligations of State and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,293,315	1,365,705
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,951,344	3,202,566
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	7,475,676	9,849,599
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities in Government-Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,231,017	5,281,328
Fair Value, Measurements, Recurring [Member] | Obligations of State and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,293,315	1,365,705
Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,951,344	3,202,566
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	610,399	317,939
Fair Value, Measurements, Recurring [Member] | Impaired Loans with Reserve [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,244,058	115,304
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities in Government-Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Obligations of State and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage Servicing Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans with Reserve [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities in Government-Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,231,017	5,281,328
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Obligations of State and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,293,315	1,365,705
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,951,344	3,202,566
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage Servicing Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans with Reserve [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities in Government-Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Obligations of State and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage Servicing Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	610,399	317,939
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans with Reserve [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 2,244,058	$ 115,304

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Assets Reported on Balance Sheets Fair Value on Nonrecurring Basis (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned		$ 45,000
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned		45,000
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned		$ 45,000

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in Fair Value Measurement Process (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, Fair Value		$ 45,000
Impaired loans with reserve, Fair Value	2,244,058	115,304
Mortgage servicing rights, Fair Value	$ 610,399	$ 317,939
Weighted Average [Member] | Valuation Technique Appraised Collateral Values [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.00%	10.00%
Weighted Average [Member] | Valuation Unobservable Inputs Discount For Time Since Appraisal [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.00%	10.00%
Weighted Average One [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	(10.00%)	(10.00%)
Weighted Average Two [Member] | Valuation Unobservable Inputs Selling Costs [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.00%	10.00%
Weighted Average Three [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	(10.00%)	(10.00%)
Weighted Average Four [Member] | Valuation Technique Discounted Cash Flows [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.00%
Weighted Average Four [Member] | Valuation Unobservable Inputs Discount for Evaluation [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.00%	10.00%
Weighted Average Five [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	(10.00%)	(10.00%)
Weighted Average Six [Member] | Valuation Unobservable Inputs Selling Costs [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.00%	10.00%
Weighted Average Seven [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	(10.00%)	(10.00%)
Weighted Average Eight [Member] | Valuation Technique Discounted Cash Flows [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	(10.02%)	(9.38%)
Weighted Average Eight [Member] | Valuation Technique Discounted Cash Flows [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	8.49%	8.49%
Weighted Average Eight [Member] | Valuation Technique Discounted Cash Flows [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.63%	10.52%
Weighted Average Eight [Member] | Valuation Unobservable Inputs Loan Prepayment Speeds [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	(10.02%)	(9.38%)
Weighted Average Eight [Member] | Valuation Unobservable Inputs Loan Prepayment Speeds [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	8.49%	8.49%
Weighted Average Eight [Member] | Valuation Unobservable Inputs Loan Prepayment Speeds [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement Weighted Average rate	10.63%	10.52%

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Estimated Fair Values of Company's Financial Instruments (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets: Certificates of deposit	$ 3,955,000	$ 2,465,000
Investment securities: Available for sale	7,475,676	9,849,599
Investment securities: Held to maturity	2,422	3,932
Investment securities: Accrued interest receivable	1,132,240	673,026
Financial liabilities: Accrued interest payable	288,725	331,133
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets: Cash and cash equivalents	36,164,269	21,880,788
Financial assets: Certificates of deposit
Investment securities: Available for sale
Investment securities: Held to maturity
Investment securities: Loans, net
Investment securities: Accrued interest receivable
Investment securities: FHLB stock
Financial liabilities: Deposits	82,066,667	55,206,337
Financial liabilities: FHLB advances
Financial liabilities: PPPLF advances
Financial liabilities: Accrued interest payable
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets: Cash and cash equivalents
Financial assets: Certificates of deposit	4,187,000	2,576,000
Investment securities: Available for sale	7,475,676	9,849,599
Investment securities: Held to maturity	2,422	3,932
Investment securities: Loans, net
Investment securities: Accrued interest receivable	1,132,240	673,026
Investment securities: FHLB stock
Financial liabilities: Deposits
Financial liabilities: FHLB advances	25,702,000	31,773,500
Financial liabilities: PPPLF advances	17,318,786
Financial liabilities: Accrued interest payable	288,725	331,133
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets: Cash and cash equivalents
Financial assets: Certificates of deposit
Investment securities: Available for sale
Investment securities: Held to maturity
Investment securities: Loans, net	174,018,820	163,239,115
Investment securities: Accrued interest receivable
Investment securities: FHLB stock	3,849,200	2,924,600
Financial liabilities: Deposits	83,943,928	95,494,220
Financial liabilities: FHLB advances
Financial liabilities: PPPLF advances
Financial liabilities: Accrued interest payable
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets: Cash and cash equivalents	36,164,269	21,880,788
Financial assets: Certificates of deposit	3,955,000	2,465,000
Investment securities: Available for sale	7,475,676	9,849,599
Investment securities: Held to maturity	2,374	3,879
Investment securities: Loans, net	165,861,820	156,112,115
Investment securities: Accrued interest receivable	1,132,240	673,026
Investment securities: FHLB stock	3,849,200	2,924,600
Financial liabilities: Deposits	162,798,595	149,020,729
Financial liabilities: FHLB advances	24,250,000	31,374,500
Financial liabilities: PPPLF advances	17,292,786
Financial liabilities: Accrued interest payable	288,725	331,133
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets: Cash and cash equivalents	36,164,269	21,880,788
Financial assets: Certificates of deposit	4,187,000	2,576,000
Investment securities: Available for sale	7,475,676	9,849,599
Investment securities: Held to maturity	2,422	3,932
Investment securities: Loans, net	174,018,820	163,239,115
Investment securities: Accrued interest receivable	1,132,240	673,026
Investment securities: FHLB stock	3,849,200	2,924,600
Financial liabilities: Deposits	166,010,595	150,700,557
Financial liabilities: FHLB advances	25,702,000	31,773,500
Financial liabilities: PPPLF advances	17,318,786
Financial liabilities: Accrued interest payable	$ 288,725	$ 331,133

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period			$ (5,421)
Other comprehensive income (loss) on securities before reclassification, net of tax	$ 39,505	$ (50,766)	252,463	$ 161,387
Amounts reclassified from accumulated other comprehensive income (loss), net of tax			(35,567)	(50,593)
Net other comprehensive income (loss)	31,209	(40,105)	171,348	87,527	$ 69,202
Accumulated other comprehensive income (loss), end of period	165,927		165,927		(5,421)
Net Unrealized Gain (Loss) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning of period	134,718	53,009	(5,421)	(74,623)	(74,623)
Other comprehensive income (loss) on securities before reclassification, net of tax	31,209	(40,105)	199,446	127,496
Amounts reclassified from accumulated other comprehensive income (loss), net of tax			(28,098)	(39,969)
Net other comprehensive income (loss)	31,209	(40,105)	171,348	87,527
Accumulated other comprehensive income (loss), end of period	$ 165,927	$ 12,904	$ 165,927	$ 12,904	$ (5,421)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
EARNINGS PER COMMON SHARE
Net Income	$ 476,052	$ 89,553	$ 1,079,018	$ 306,836	$ 436,345
Average shares outstanding	2,253,658	2,248,805	2,252,234	2,248,458
Less: Average unearned ESOP shares	76,739	81,146	77,834	82,237
Shares outstanding for basic EPS	2,176,919	2,167,659	2,174,400	2,166,221
Additional dilutive shares				221
Shares outstanding for diluted EPS	2,176,919	2,167,659	2,174,400	2,166,442
Basic income per share	$ 0.22	$ 0.04	$ 0.50	$ 0.14
Diluted income per share	$ 0.22	$ 0.04	$ 0.50	$ 0.14

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating leases rental expense	$ 1,500	$ 1,500	$ 4,500	$ 4,500
Other Assets [Member]
Right-of-use asset	4,957		4,957
Other Liabilities [Member]
Lease liability	$ 4,957		$ 4,957

Leases - Schedule of Weighted-A

Leases - Schedule of Weighted-Average Lease Term and Discount Rate (Details)	Sep. 30, 2020
Leases [Abstract]
Weighted-average remaining term (years)	9 months 18 days
Weighted-average discount rate	1.87%

Leases - Schedule of Undiscount

Leases - Schedule of Undiscounted Cash Flows Due to Operating Leases (Details) - Other Liabilities [Member]	Sep. 30, 2020USD ($)
Undiscounted cash flows due: Within 1 year	$ 5,000
Undiscounted cash flows due: After 1 year but within 2 years
Undiscounted cash flows due: After 2 years
Total undiscounted cash flows	5,000
Discount on cash flows	(43)
Total lease liabilities	$ 4,957

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Point of Revenue Recognition and Income Recognized (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Service Charges on Deposits [Member] | At Point in Time and Over Time [Member]
Revenue and income recognized	$ 1,085	$ 2,556	$ 5,064	$ 5,985
Electronic Banking Fees [Member] | At a Point in Time [Member]
Revenue and income recognized	18,699	8,613	39,299	22,143
Mortgage Banking Income [Member] | At a Point in Time [Member]
Revenue and income recognized	$ 629,200	$ 85,485	$ 1,409,595	$ 234,124