Mid-Southern Bancorp (MSVB) 10-Q 12 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-38491
Entity Registrant Name	Mid-Southern Bancorp, Inc.
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	82-4821705
Entity Address, Address Line One	300 North Water Street
Entity Address, City or Town	Salem
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47167
City Area Code	812
Local Phone Number	883-2639
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	MSVB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,885,039
Entity Central Index Key	0001734875
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 1,249	$ 979
Interest-bearing deposits with banks	3,222	4,705
Cash and cash equivalents	4,471	5,684
Securities available for sale, at fair value	101,559	105,351
Securities held to maturity	13	17
Loans, net of allowance for credit losses of $2,324 and $1,692, respectively	147,198	144,379
Federal Home Loan Bank stock, at cost	1,778	1,778
Foreclosed real estate	16
Premises and equipment	2,156	2,150
Accrued interest receivable:
Loans	443	437
Securities	599	886
Cash value of life insurance	3,839	3,826
Other assets	4,296	4,710
Total Assets	266,368	269,218
Deposits:
Noninterest-bearing	27,936	28,232
Interest-bearing	177,701	177,832
Total deposits	205,637	206,064
Borrowings	25,000	29,000
Accrued interest payable	82	12
Accrued expenses and other liabilities	706	820
Total Liabilities	231,425	235,896
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, 1,000,000 shares authorized, $0.01 par value, no shares issued and outstanding
Common stock, 30,000,000 shares authorized, $0.01 par value, 3,565,430 shares issued and 2,885,039 shares outstanding (2,885,039 in 2022)	36	36
Additional paid-in-capital	30,800	30,777
Retained earnings, substantially restricted	24,611	24,916
Accumulated other comprehensive loss	(9,006)	(10,831)
Unearned ESOP shares	(1,497)	(1,524)
Unearned stock compensation plan	(407)	(458)
Treasury stock, at cost - 680,391 shares (680,391 in 2022)	(9,594)	(9,594)
Total Stockholders' Equity	34,943	33,322
Total Liabilities and Stockholders' Equity	$ 266,368	$ 269,218

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Allowance for loan losses	$ 2,324	$ 1,692
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	30,000,000	30,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	3,565,430	3,565,430
Common stock, shares outstanding	2,885,039	2,885,039
Treasury stock, shares	680,391	680,391

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
INTEREST INCOME
Loans, including fees	$ 1,721	$ 1,315
Investment securities:
Mortgage-backed securities	190	104
Municipal tax exempt	413	381
Other debt securities	115	75
Federal Home Loan Bank dividends	27	4
Interest-bearing deposits with banks and time deposits	17	4
Total interest income	2,483	1,883
INTEREST EXPENSE
Deposits	346	107
Borrowings	277	43
Total interest expense	623	150
Net interest income	1,860	1,733
Provision for credit losses	52
Net interest income after provision for credit losses	1,808	1,733
NONINTEREST INCOME
Fees and commission	253	261
Brokered loan fees	15	43
Net loss on sales of securities available for sale	(27)
Increase in cash value of life insurance	14	14
Other income	12	11
Total noninterest income	244	285
NONINTEREST EXPENSE
Compensation and benefits	891	833
Occupancy and equipment	161	138
Data processing	211	118
Professional fees	169	144
Directors' compensation	89	81
Stockholders' meeting expense	18	18
Supervisory examinations	15	18
Deposit insurance premiums	20	16
Marketing and business development	26	22
Other expenses	149	129
Total noninterest expense	1,749	1,517
Income before income taxes	303	501
Income tax (benefit) expense	(37)	34
Net Income	$ 340	$ 467
Earnings per common share:
Basic (in dollars per share)	$ 0.13	$ 0.17
Diluted (in dollars per share)	$ 0.13	$ 0.17
Deposit account service charges
NONINTEREST INCOME
Fees and commission	$ 91	$ 81
ATM and debit card fee income
NONINTEREST INCOME
Fees and commission	$ 139	$ 136

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net Income	$ 340	$ 467
Unrealized gains (losses) on securities available for sale:
Net unrealized holding gains (losses) arising during the period	2,403	(7,837)
Income tax (expense) benefit	(598)	1,949
Net of tax amount	1,805	(5,888)
Reclassification adjustment for realized losses included in net income during the period	(27)
Income tax benefit	7
Net of tax amount	(20)
Other Comprehensive Income (Loss), net of tax	1,825	(5,888)
Total Comprehensive Income (Loss)	$ 2,165	$ (5,421)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings Impact of adoption	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unearned ESOP Shares	Unearned Stock Compensation Plan	Treasury Stock	Impact of adoption	Total
Balances at Dec. 31, 2021	$ 36	$ 30,694		$ 23,527	$ 2,096	$ (1,649)	$ (473)			$ 46,529
Treasury Stock, beginning balance at Dec. 31, 2021								$ (7,702)
Net income				467						467
Other comprehensive loss					(5,888)					(5,888)
Cash dividends				(113)						(113)
ESOP shares committed to be released		13				26				39
Purchase of treasury shares								(241)		(241)
Forfeiture of unearned stock awards							2	(2)
Exercise of stock options		(8)						111		103
Stock compensation expense		13					41			54
Balances at Mar. 31, 2022	36	30,712		23,881	(3,792)	(1,623)	(430)			40,950
Treasury Stock, ending balance at Mar. 31, 2022								(7,834)
Balances (ASC 326) at Dec. 31, 2022			$ (481)						$ (481)
Balances at Dec. 31, 2022	36	30,777		24,916	(10,831)	(1,524)	(458)			33,322
Treasury Stock, beginning balance at Dec. 31, 2022								(9,594)		(9,594)
Net income				340						340
Other comprehensive loss					1,825					1,825
Cash dividends				(164)						(164)
ESOP shares committed to be released		7				27				34
Stock compensation expense		16					51			67
Balances at Mar. 31, 2023	$ 36	$ 30,800		$ 24,611	$ (9,006)	$ (1,497)	$ (407)			34,943
Treasury Stock, ending balance at Mar. 31, 2023								$ (9,594)		$ (9,594)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Cash dividend, per share amount	$ 0.06	$ 0.04
Treasury stock, shares, acquired		16,117

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 340,000	$ 467,000
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of premiums and accretion of discounts on securities, net	92,000	123,000
Provision for credit losses	52,000
Stock compensation expense	67,000	54,000
Depreciation expense	48,000	45,000
ESOP compensation expense	34,000	39,000
Deferred income taxes	(19,000)	(32,000)
Increase in cash value of life insurance	(14,000)	(14,000)
Net loss on sales of securities available for sale	27,000
Decrease in accrued interest receivable	281,000	58,000
Increase in accrued interest payable	70,000
Net change in other assets and liabilities	(183,000)	(101,000)
Net Cash Provided By Operating Activities	795,000	639,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of securities available for sale		(23,119,000)
Principal collected on mortgage-backed securities available for sale	972,000	2,932,000
Proceeds from maturities of securities available for sale	1,030,000	2,109,000
Proceeds from sales of securities available for sale	4,101,000
Principal collected on mortgage-backed securities held to maturity	4,000	1,000
Proceeds from redemption of Federal Home Loan Bank Stock		57,000
Net (increase) decrease in loans receivable	(3,470,000)	(4,738,000)
Purchase of premises and equipment	(54,000)	(40,000)
Investment in cash value of life insurance		(2,000)
Net Cash Provided By (Used In) Investing Activities	2,583,000	(22,800,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	(427,000)	12,774,000
Repayments to Federal Home Loan Bank	(29,000,000)
Proceeds from Federal Reserve	25,000,000
Proceeds from the exercise of stock options		103,000
Purchase of treasury stock		(241,000)
Cash dividends paid	(164,000)	(113,000)
Net Cash Provided By (Used In) Financing Activities	(4,591,000)	12,523,000
Net Decrease in Cash and Cash Equivalents	(1,213,000)	(9,638,000)
Cash and cash equivalents at beginning of year	5,684,000	16,379,000
Cash and Cash Equivalents at End of Period	4,471,000	6,741,000
Supplemental Disclosures of Cash Flow Information
Interest	$ 553,000	$ 150,000

Presentation of Interim Informa

Presentation of Interim Information	3 Months Ended
	Mar. 31, 2023
Presentation of Interim Information
Presentation of Interim Information	1. Presentation of Interim Information Mid-Southern Bancorp, Inc., (the "Company") was incorporated in January 2018 and became the holding company for Mid-Southern Savings Bank, FSB (the "Bank"), on July 11, 2018, upon the completion of the Bank’s conversion from the mutual holding company ownership structure and the Company’s related public stock offering. Please see Note 2 – Conversion and Stock Issuance for more information. The accompanying unaudited consolidated financial statements and notes have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by U.S. Generally Accepted Accounting Principles ("GAAP") for complete financial statements. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K filed with the SEC on March 24, 2023 ("2022 Form 10-K"). In the opinion of management, the unaudited consolidated financial statements include all adjustments considered necessary for a fair presentation of the unaudited interim consolidated financial statements in accordance with GAAP. All of these adjustments are of a normal, recurring nature. Such adjustments are the only adjustments included in the unaudited consolidated financial statements. Interim results are not necessarily indicative of results for a full year or any other period. The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. All material intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications had no effect on net income or stockholders’ equity. In preparing the unaudited consolidated financial statements, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the allowance for credit losses, the valuation of foreclosed real estate and the underlying collateral of individually analyzed loans, deferred tax assets, and the fair value of financial instruments. On April 5, 2012, the Jumpstart Our Business Startups Act ("JOBS Act") was signed into law. The JOBS Act contains provisions that, among other things, reduce certain reporting requirements for qualifying public companies. As an "emerging growth company" we may delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. We intend to take advantage of the benefits of this extended transition period. Accordingly, our consolidated financial statements may not be comparable to companies that comply with such new or revised accounting standards. ​

Conversion and Stock Issuance

Conversion and Stock Issuance	3 Months Ended
	Mar. 31, 2023
Conversion and Stock Issuance
Conversion and Stock Issuance	2. Conversion and Stock Issuance The Company, an Indiana corporation, was organized by Mid-Southern, M.H.C. (the “MHC") and the Bank in connection with the MHC’s plan of conversion from mutual to stock form of ownership (the "Conversion"). Upon consummation of the Conversion, which occurred on July 11, 2018, the Company became the holding company for the Bank and now owns all of the issued and outstanding shares of the Bank’s common stock.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2023
Investment Securities
Investment Securities	3. Investment Securities Investment securities have been classified in the consolidated balance sheets according to management’s intent. Debt securities held by the Company include U.S. Treasury and other U.S. government agency obligations, mortgage-backed securities and other debt securities issued by the Government National Mortgage Association ("GNMA"), a U.S. government agency, mortgage-backed securities and collateralized mortgage obligations issued by the Federal National Mortgage Association ("FNMA") and the Federal Home Loan Mortgage Corporation ("FHLMC"), which are government-sponsored enterprises. Mortgage-backed securities ("MBS") represent participating interests in pools of long-term first mortgage loans originated and serviced by the issuers of the securities. Collateralized mortgage obligations ("CMO") are complex mortgage-backed securities that restructure the cash flows and risks of the underlying mortgage collateral. The Company also holds debt securities issued by municipalities and political subdivisions of state and local governments. Investment securities at March 31, 2023 and December 31, 2022 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ (In thousands) ​ Amortized ​ Unrealized ​ Unrealized ​ Fair March 31, 2023 Cost Gains Losses Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ Agency MBS ​ $ 12,950 ​ $ — ​ $ 1,742 ​ $ 11,208 Agency CMO ​ 20,564 ​ ​ 43 ​ ​ 2,088 ​ ​ 18,519 ​ ​ 33,514 ​ ​ 43 ​ ​ 3,830 ​ ​ 29,727 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ 9,843 ​ ​ — ​ ​ 316 ​ ​ 9,527 U.S. Government agency obligations ​ 1,983 ​ ​ — ​ ​ 130 ​ ​ 1,853 Municipal obligations ​ 68,206 ​ ​ 74 ​ ​ 7,828 ​ ​ 60,452 ​ ​ ​ 80,032 ​ ​ 74 ​ ​ 8,274 ​ ​ 71,832 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale ​ $ 113,546 ​ $ 117 ​ $ 12,104 ​ $ 101,559 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency MBS ​ $ 13 ​ $ — ​ $ — ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities held to maturity ​ $ 13 ​ $ — ​ $ — ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency MBS ​ $ 13,257 ​ $ — ​ $ 1,868 ​ $ 11,389 Agency CMO ​ 21,233 ​ ​ 18 ​ ​ 2,257 ​ ​ 18,994 ​ ​ 34,490 ​ ​ 18 ​ ​ 4,125 ​ ​ 30,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ 9,840 ​ ​ — ​ ​ 401 ​ ​ 9,439 U.S. Government agency obligations ​ 1,996 ​ ​ — ​ ​ 183 ​ ​ 1,813 Municipal obligations ​ 73,442 ​ ​ 18 ​ ​ 9,744 ​ ​ 63,716 ​ ​ ​ 85,278 ​ ​ 18 ​ ​ 10,328 ​ ​ 74,968 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale ​ $ 119,768 ​ $ 36 ​ $ 14,453 ​ $ 105,351 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency MBS ​ $ 17 ​ $ — ​ $ — ​ $ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities held to maturity ​ $ 17 ​ $ — ​ $ — ​ $ 17 ​ The amortized cost and fair value of debt securities as of March 31, 2023, by contractual maturity, are shown below. Expected maturities of MBS and CMO may differ from contractual maturities because the mortgages underlying the obligations may be prepaid without penalty. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ Amortized Fair Amortized Fair (In thousands) ​ Cost ​ Value ​ Cost ​ Value Due in one year or less ​ $ 4,586 ​ $ 4,481 ​ $ — ​ $ — Due after one year through five years ​ 11,208 ​ ​ 10,801 ​ ​ — ​ ​ — Due after five years through ten years ​ 4,313 ​ ​ 4,090 ​ ​ — ​ ​ — Due after ten years ​ 59,925 ​ ​ 52,460 ​ ​ — ​ ​ — ​ ​ 80,032 ​ ​ 71,832 ​ ​ — ​ ​ — MBS and CMO ​ 33,514 ​ ​ 29,727 ​ ​ 13 ​ ​ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 113,546 ​ $ 101,559 ​ $ 13 ​ $ 13 ​ Information pertaining to investment securities available for sale with gross unrealized losses at March 31, 2023, aggregated by investment category and the length of time that individual investment securities have been in a continuous position, follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Gross (Dollars in thousands) ​ Investment ​ Fair ​ Unrealized March 31, 2023 ​ Positions ​ Value ​ Losses Securities available for sale: ​ ​ Continuous loss position less than 12 months: ​ ​ Agency CMO ​ 4 ​ $ 1,144 $ 16 Municipal obligations ​ 10 ​ ​ 5,287 ​ ​ 236 Total less than 12 months ​ 14 ​ ​ 6,431 ​ ​ 252 ​ ​ ​ ​ ​ ​ ​ ​ ​ Continuous loss position more than 12 months: ​ ​ ​ ​ ​ U.S. Treasury securities 6 ​ 9,527 ​ 316 U.S. Government agency obligations 1 ​ 1,852 ​ 130 Agency MBS 13 ​ 11,208 ​ 1,742 Agency CMO 15 ​ 15,948 ​ 2,072 Municipal obligations 82 ​ 45,997 ​ 7,592 Total more than 12 months 117 ​ 84,532 ​ 11,852 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 131 ​ $ 90,963 ​ $ 12,104 ​ Information pertaining to investment securities available for sale with gross unrealized losses at December 31, 2022, aggregated by investment category and the length of time that individual investment securities have been in a continuous loss position, follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Gross (Dollars in thousands) ​ Investment ​ Fair ​ Unrealized December 31, 2022 Positions Value Losses Securities available for sale: ​ ​ Continuous loss position less than 12 months: ​ ​ U.S. Treasury securities ​ 6 ​ $ 9,439 ​ $ 401 U.S. Government agency obligations ​ 1 ​ ​ 1,812 ​ ​ 183 Agency MBS ​ 8 ​ ​ 4,701 ​ ​ 559 Agency CMO ​ 8 ​ ​ 4,212 ​ ​ 204 Municipal obligations 89 ​ ​ 46,971 ​ ​ 6,309 Total less than 12 months ​ 112 ​ ​ 67,135 ​ ​ 7,656 ​ ​ ​ ​ ​ ​ ​ ​ ​ Continuous loss position more than 12 months: ​ ​ ​ ​ ​ ​ ​ Agency MBS 5 ​ ​ 6,687 ​ ​ 1,309 Agency CMO 12 ​ ​ 13,357 ​ ​ 2,053 Municipal obligations 25 ​ ​ 12,588 ​ ​ 3,435 Total more than 12 months 42 ​ ​ 32,632 ​ ​ 6,797 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 154 ​ $ 99,767 ​ $ 14,453 ​ At March 31, 2023, the Company had no debt securities in the held to maturity classification in a loss position. The debt securities available for sale in a loss position were 89.6% and 94.7% of the Company’s total available for sale securities portfolio at March 31, 2023 and December 31, 2022, respectively. All of the debt securities in a loss position at March 31, 2023 were backed by residential first mortgage loans or were obligations issued by federal or local government-sponsored enterprises. These unrealized losses occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase. The Company does not consider available-for-sale securities with unrealized losses at March 31, 2023 to be experiencing credit losses and recognized no resulting allowance for credit losses. It is more likely than not that the Company will not be required to sell these investments before recovery of the amortized cost basis, which may be the maturity dates of the securities. During the three-month period ended March 31, 2023, the Company realized gross losses of $27,000 on the sale of available for sale municipal securities. There were no securities sales during the three-month period ended March 31, 2022. ​ At March 31, 2023, U.S. agency mortgage-backed available for sale investment securities with a par value of $28.5 million were pledged as collateral for an advance from the Federal Reserve through the Bank Term Funding Program (“BTFP”). There were no investment securities pledged as collateral for any purpose as of December 31, 2022.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2023
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses	4. Loans and Allowance for Credit Losses The Company’s loan and allowance for credit loss policies are as follows: Loans Held for Investment. A substantial portion of the loan portfolio is represented by mortgage loans to customers in southern Indiana. The ability of the Company’s customers to honor their contracts is dependent upon the real estate and general economic conditions in this area. Loan origination and commitment fees, as well as certain direct costs of underwriting and closing loans, are deferred and amortized as a yield adjustment to interest income over the lives of the related loans using the interest method. Amortization of net deferred loan fees is discontinued when a loan is placed on nonaccrual status. Nonaccrual Loans. A loan is restored to accrual status when all principal and interest payments are brought current and the borrower has demonstrated the ability to make future payments of principal and interest as scheduled, which generally requires that the borrower demonstrate a period of performance of at least six consecutive months. Allowance for Credit Losses on Loans. On January 1, 2023, the Company implemented Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326) as amended by ASU 2018-19, ASU 2019-04, ASU 2019-05 and ASU 2022-02 (collectively “ASC 326”), commonly referred to as the current expected credit loss methodology (“CECL”). Under the CECL model, the allowance for credit losses on loans represents a valuation allowance estimated at each balance sheet date in accordance with GAAP that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loan portfolio. As a result, the opening balances for the allowance for credit losses increased by $557,000 as of January 1, 2023. The adoption reduced the Company’s retained earnings on a tax-effected basis of $425,000, with no impact on earnings. The Company measures expected credit losses for its portfolio segments utilizing the Weighted Average Remaining Maturity (“WARM”) allowance for credit losses methodology. The WARM methodology uses an average loss rate for each loan segment and applies that rate to future expected outstanding balances of that segment. The Company selected the WARM methodology given the loan portfolio’s current size and complexity. The Company has elected to exclude accrued interest receivable and net deferred fees from its calculation of the allowance for credit losses. The Company uses a disciplined process and methodology to evaluate the allowance for credit losses on loans on at least a quarterly basis that is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are individually evaluated or loans otherwise classified as doubtful or substandard. For such loans that are classified as individually analyzed, an allowance is established when the discounted cash flows or collateral value of the individually analyzed loan is lower than the carrying value of that loan. The general component covers non-classified loans and classified loans that are not individually analyzed. Such loans are pooled by portfolio segment and losses are modeled using annualized historical loss experience adjusted for qualitative factors. The historical loss experience is determined by portfolio segment and is based on the Company’s actual loss history since 2008 unless the historical loss experience is not considered indicative of the level of risk in the remaining balance of a particular portfolio segment, in which case an adjustment is determined by management. The Company’s historical loss experience is then adjusted for qualitative factors that are reviewed on a quarterly basis. Management’s determination of the allowance for credit losses on loans considers changes and trends in the following qualitative loss factors: lending policies and procedures, including underwriting standards and collection, charge-off and recovery practices and management experience, national and local economic conditions, new loan trends, past due and nonaccrual loans, loan reviews, collateral values, credit concentrations and other internal and external factors such as competition, legal and regulatory changes. Each loan pool’s historical loss rate is adjusted based on positive or negative changes in the qualitative loss factor. This adjustment determines the adjusted loss rate used in management’s allowance for credit loss adequacy calculation. Management exercises significant judgment in evaluating the relevant historical loss experience and the qualitative factors. Management also monitors the differences between estimated and actual incurred loan losses for individually analyzed loans in order to evaluate the effectiveness of the estimation process and make any changes in the methodology as necessary. The following portfolio segments are considered in the allowance for credit losses analysis: one-to-four family residential real estate, multi-family residential real estate, construction, commercial real estate, commercial business, and consumer loans. Residential real estate loans primarily consist of loans to individuals for the purchase or refinance of their primary residence, with a smaller portion of the segment secured by non-owner-occupied residential investment properties and multi-family residential investment properties. Also, included within the residential real estate loan portfolio are home equity loans and junior lien loans, which are secured by liens on the borrower’s personal residence. The risks associated with residential real estate loans are closely correlated to the local housing market and general economic conditions, as repayment of the loans is primarily dependent on the borrower’s or tenant’s personal cash flow and employment status. The Company’s construction loan portfolio consists of single-family residential properties, multi-family properties and commercial projects, and includes both owner-occupied and speculative investment properties. Risks inherent in construction lending are related to the market value of the property held as collateral, the cost and timing of constructing or improving a property, the borrower’s ability to use funds generated by a project to service a loan until a project is completed, movements in interest rates and the real estate market during the construction phase, and the ability of the borrower to obtain permanent financing. Commercial real estate loans are comprised of loans secured by various types of collateral including office buildings, warehouses, retail space and mixed-use buildings located in the Company’s primary lending area. Risks related to commercial real estate lending are related to the market value of the property taken as collateral, the underlying cash flows and general economic condition of the local real estate market. Repayment of these loans is generally dependent on the ability of the borrower to attract tenants at lease rates or general business operating cash flows that provide for adequate debt service and can be impacted by local economic conditions which impact vacancy rates and the general level of business activity. The Company generally obtains loan guarantees from financially capable parties for commercial real estate loans. Commercial business loans include lines of credit to businesses, term loans and letters of credit secured by business assets such as equipment, accounts receivable, inventory, or other assets excluding real estate and are generally made to finance capital expenditures or fund operations. Commercial loans contain risks related to the value of the collateral securing the loan and the repayment is primarily dependent upon the financial success and viability of the borrower. As with commercial real estate loans, the Company generally obtains loan guarantees from financially capable parties for commercial business loans. Consumer loans consist primarily of home improvement loans, automobile and truck loans, boat loans, mobile home loans, loans secured by savings deposits, and other personal loans. The risks associated with these loans are related to the local housing market and local economic conditions including the unemployment level. Allowance for Credit Losses on Unfunded Loan Commitments. The following table summarizes the total impact of the adoption of ASC 326 on January 1, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 ,2023 ​ As reported under Pre-ASC 326 Impact of ASC 326 (In thousands) ​ ASC 326 ​ Adoption ​ Adoption Allowance for credit losses on loans: ​ ​ ​ One-to-four family residential ​ $ 717 ​ $ 705 ​ $ 12 Multi-family residential ​ 389 ​ 86 ​ 303 Construction ​ ​ 101 ​ ​ 18 ​ ​ 83 Commercial real estate ​ 775 ​ 650 ​ 125 Commercial business ​ 207 ​ 199 ​ 8 Consumer ​ 60 ​ 34 ​ 26 Total allowance for credit losses on loans ​ $ 2,249 ​ $ 1,692 ​ $ 557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total allowance for credit losses on unfunded loan commitments ​ $ 73 ​ $ — ​ $ 73 ​ Loan Charge-Offs. losses as discussed above. Specific reserves are not considered charge-offs in management’s evaluation of the general component of the allowance for credit losses because they are estimates and the outcome of the loan relationship is undetermined. Consumer loans not secured by real estate are typically charged off at 90 days past due, or earlier if deemed uncollectible, unless the loans are in the process of collection. Overdrafts are charged off after 60 days past due. A charge-off is typically recorded on a loan secured by real estate when the property is foreclosed upon when the carrying value of the loan exceeds the property’s fair value less the estimated costs to sell. Individually Analyzed Loans. Values for individually evaluated collateral dependent loans are generally based on appraisals obtained from independent licensed real estate appraisers, with adjustments applied for estimated costs to sell the property, costs to complete unfinished or repair damaged property and other factors. New appraisals or valuations are generally obtained for all significant properties (if the value is estimated to exceed $100,000) when a loan is individually analyzed. Subsequent appraisals are obtained or an internal evaluation is prepared annually, or more frequently if management believes there has been a significant change in the market value of a collateral property securing a collateral dependent individually analyzed loan. In instances where it is not deemed necessary to obtain a new appraisal, management bases its evaluation on the original appraisal with adjustments for current conditions based on management’s assessment of market factors and inspection of the property. At March 31, 2023, the Company had $16,000 in foreclosed residential real estate properties where physical possession has occurred. The Company did not have any foreclosed residential real estate properties where physical possession had occurred at December 31, 2022. At March 31, 2023, there were five loans with an amortized cost of $168,000 that are secured by residential real estate property for which formal foreclosure proceedings are in process. The amortized cost of loans collateralized by residential real estate property in the process of foreclosure was $116,000 at December 31, 2022. Loans at March 31, 2023 and December 31, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (In thousands) ​ 2023 ​ 2022 Real estate mortgage loans: ​ ​ One-to-four family residential ​ $ 66,100 ​ $ 64,747 Multi-family residential ​ 8,660 ​ 8,271 Construction ​ ​ 4,559 ​ ​ 7,847 Commercial real estate ​ 54,349 ​ 48,590 Commercial business loans ​ 14,143 ​ 14,675 Consumer loans ​ 1,865 ​ 2,077 Total loans ​ 149,676 ​ 146,207 ​ ​ ​ ​ ​ ​ ​ Deferred loan origination fees and costs, net ​ (154) ​ (136) Allowance for credit losses on loans ​ (2,324) ​ (1,692) ​ ​ ​ ​ ​ ​ ​ Loans, net ​ $ 147,198 ​ $ 144,379 ​ ​ The following table provides the components of the Company’s recorded investment in loans at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Recorded Investment in Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal loan balance ​ $ 64,747 ​ $ 8,271 ​ $ 7,847 ​ $ 48,590 ​ $ 14,675 ​ $ 2,077 ​ $ 146,207 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable ​ 178 ​ 14 ​ ​ 19 ​ ​ 182 ​ ​ 36 ​ ​ 8 ​ ​ 437 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred loan fees/costs ​ 13 ​ (24) ​ ​ (32) ​ ​ (106) ​ ​ (24) ​ ​ 37 ​ ​ (136) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 64,938 ​ $ 8,261 ​ $ 7,834 ​ $ 48,666 ​ $ 14,687 ​ $ 2,122 ​ $ 146,508 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Investment in Loans as Evaluated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated ​ $ 490 ​ $ — ​ $ — ​ $ 125 ​ $ 279 ​ $ — ​ $ 894 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collectively evaluated ​ 64,448 ​ 8,261 ​ ​ 7,834 ​ ​ 48,541 ​ ​ 14,408 ​ ​ 2,122 ​ ​ 145,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 64,938 ​ $ 8,261 ​ $ 7,834 ​ $ 48,666 ​ $ 14,687 ​ $ 2,122 ​ $ 146,508 ​ An analysis of the allowance for credit losses on loans as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated ​ $ 21 ​ $ — ​ $ — ​ $ — ​ $ 14 ​ $ — ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collectively evaluated ​ 684 ​ 86 ​ ​ 18 ​ ​ 650 ​ ​ 185 ​ ​ 34 ​ ​ 1,657 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 705 ​ $ 86 ​ $ 18 ​ $ 650 ​ $ 199 ​ $ 34 ​ $ 1,692 ​ ​ An analysis of the changes in the allowance for credit losses on loans for the three months ended March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 705 ​ $ 86 ​ $ 18 ​ $ 650 ​ $ 199 ​ $ 34 ​ $ 1,692 Impact of adopting ASC 326 ​ 12 ​ ​ 303 ​ ​ 83 ​ ​ 125 ​ ​ 8 ​ ​ 26 ​ ​ 557 Provisions ​ 4 ​ ​ 25 ​ ​ (41) ​ ​ 104 ​ ​ (13) ​ ​ (1) ​ ​ 78 Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (5) ​ ​ (5) Recoveries ​ 2 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 723 ​ $ 414 ​ $ 60 ​ $ 879 ​ $ 194 ​ $ 54 ​ $ 2,324 ​ An analysis of the changes in the allowance for credit losses on loans for the three months ended March 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 873 ​ $ 102 ​ $ 25 ​ $ 363 ​ $ 127 ​ $ 33 ​ $ 1,523 Provisions ​ (93) ​ ​ (8) ​ ​ (5) ​ ​ 112 ​ ​ (7) ​ ​ 1 ​ ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (4) ​ ​ (4) Recoveries ​ 2 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 782 ​ $ 94 ​ $ 20 ​ $ 475 ​ $ 120 ​ $ 31 ​ $ 1,522 ​ The following table summarizes the amortized cost and allowance for credit losses allocated to loans which are collaterally dependent to determine expected credit losses as of March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocated ​ Real Estate Other Total Allowance ​ ​ (In thousands) One-to-four family residential ​ $ 464 ​ $ — ​ $ 464 ​ $ 21 Commercial real estate ​ 113 ​ ​ — ​ ​ 113 ​ ​ — Commercial business ​ — ​ ​ 261 ​ ​ 261 ​ ​ 10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 577 ​ $ 261 ​ $ 838 ​ $ 31 ​ ​ The following table summarizes the Company’s individually analyzed loans for the three-month period ended March 31, 2022. The Company did not recognize any interest income on individually analyzed loans using the cash receipts method of accounting for the three-month period ended March 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, 2022 ​ ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Investment Recognized ​ ​ ​ Loans with no related allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 717 ​ $ — Commercial real estate ​ ​ 100 ​ ​ 1 Commercial business ​ ​ — ​ ​ — Consumer ​ ​ 1 ​ ​ — ​ ​ $ 818 ​ $ 1 ​ ​ ​ ​ ​ ​ ​ Loans with an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 245 ​ $ 3 Commercial real estate ​ ​ 68 ​ ​ 1 Commercial business ​ ​ 326 ​ ​ 4 Consumer ​ ​ — ​ ​ — ​ ​ $ 639 ​ $ 8 ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 962 ​ $ 3 Commercial real estate ​ ​ 168 ​ ​ 2 Commercial business ​ ​ 326 ​ ​ 4 Consumer ​ ​ 1 ​ ​ — ​ ​ $ 1,457 ​ $ 9 ​ ​ The following table summarizes the Company’s individually analyzed loans as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ ​ ​ ​ ​ Unpaid ​ ​ ​ ​ Recorded ​ Principal ​ Related ​ Investment Balance Allowance ​ ​ (In thousands) Loans with no related allowance recorded: ​ ​ ​ One-to-four family residential ​ $ 762 ​ $ 820 ​ $ — Commercial real estate ​ 60 ​ 60 ​ — Commercial business ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ ​ $ 822 ​ $ 880 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans with an allowance recorded: ​ ​ ​ ​ ​ One-to-four family residential ​ $ 267 ​ $ 274 ​ $ 21 Commercial real estate ​ 66 ​ 68 ​ — Commercial business ​ 279 ​ 279 ​ 14 Consumer ​ — ​ — ​ — ​ ​ $ 612 ​ $ 621 ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 1,029 ​ $ 1,094 ​ $ 21 Commercial real estate ​ 126 ​ 128 ​ — Commercial business ​ 279 ​ 279 ​ 14 Consumer ​ — ​ — ​ — ​ ​ $ 1,434 ​ $ 1,501 ​ $ 35 ​ The following table presents the amortized cost of nonaccrual loans and loans past due over 90 days and still accruing at March 31, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At March 31, 2023 ​ At December 31, 2022 ​ ​ ​ ​ ​ Nonaccrual ​ Loans 90+ ​ ​ ​ ​ Nonaccrual ​ Loans 90+ ​ ​ ​ ​ ​ Loans ​ Days ​ ​ ​ ​ Loans ​ Days ​ ​ Nonaccrual ​ Without an ​ Past Due ​ Nonaccrual ​ Without an ​ Past Due ​ Loans Allowance Still Accruing Loans Allowance Still Accruing ​ (In thousands) One-to-four family residential ​ $ 612 ​ $ 171 $ — $ 732 $ 193 $ — Construction ​ 146 ​ — ​ — ​ — ​ — ​ — Commercial real estate ​ 320 ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 1,078 ​ $ 171 ​ $ — ​ $ 732 ​ $ 193 ​ $ — ​ ​ The following tables present the aging of the amortized cost of loans at March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 Days ​ 60 ‑ 89 Days ​ 90 Days ​ Total ​ Accruing ​ Nonaccrual ​ Total ​ Current Past Due Past Due Past Due Past Due Loans Loans Loans ​ ​ (In thousands) March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 65,022 ​ $ 466 ​ $ — ​ $ — ​ $ 466 ​ $ 65,488 ​ $ 612 ​ $ 66,100 Multi-family residential ​ 8,660 ​ — ​ — ​ — ​ — ​ 8,660 ​ — ​ 8,660 Construction ​ 4,413 ​ — ​ — ​ — ​ — ​ 4,413 ​ 146 ​ 4,559 Commercial real estate ​ 53,976 ​ 53 ​ — ​ — ​ 53 ​ 54,029 ​ 320 ​ 54,349 Commercial business ​ 14,143 ​ — ​ — ​ — ​ — ​ 14,143 ​ — ​ 14,143 Consumer ​ 1,846 ​ 19 ​ — ​ — ​ 19 ​ 1,865 ​ — ​ 1,865 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 148,060 ​ $ 538 ​ $ — ​ $ — ​ $ 538 ​ $ 148,598 ​ $ 1,078 ​ $ 149,676 ​ The following tables present the aging of the recorded investment in loans at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 Days ​ 60 ‑ 89 Days ​ 90 Days ​ Total ​ Accruing ​ Nonaccrual ​ Total ​ Current Past Due Past Due Past Due Past Due Loans Loans Loans ​ ​ (In thousands) December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 63,610 ​ $ 596 ​ $ — ​ $ — ​ $ 596 ​ $ 64,206 ​ $ 732 ​ $ 64,938 Multi-family residential ​ 8,261 ​ — ​ — ​ — ​ — ​ 8,261 ​ — ​ 8,261 Construction ​ 7,834 ​ — ​ — ​ — ​ — ​ 7,834 ​ — ​ 7,834 Commercial real estate ​ 48,222 ​ 444 ​ — ​ — ​ 444 ​ 48,666 ​ — ​ 48,666 Commercial business ​ 14,676 ​ 11 ​ — ​ — ​ 11 ​ 14,687 ​ — ​ 14,687 Consumer ​ 2,122 ​ — ​ — ​ — ​ — ​ 2,122 ​ — ​ 2,122 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 144,725 ​ $ 1,051 ​ $ — ​ $ — ​ $ 1,051 ​ $ 145,776 ​ $ 732 ​ $ 146,508 ​ 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, public information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company classifies loans based on credit risk at least quarterly. The Company uses the following regulatory definitions for risk ratings: Pass Special Mention Substandard Doubtful Loss ​ ​ The following table shows the amortized cost of loans, segregated by portfolio segment, risk category and year of origination as of March 31, 2023 and gross charge-offs for the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Loans ​ Total ​ ​ (In thousands) One-to-four family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,611 ​ $ 13,417 ​ $ 10,554 ​ $ 6,491 ​ $ 2,782 ​ $ 26,300 ​ $ 4,333 ​ $ 65,488 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 612 ​ ​ — ​ ​ 612 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total one-to-four family residential ​ ​ 1,611 ​ ​ 13,417 ​ ​ 10,554 ​ ​ 6,491 ​ ​ 2,782 ​ ​ 26,912 ​ ​ 4,333 ​ ​ 66,100 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Multi-family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 498 ​ ​ 2,395 ​ ​ 3,107 ​ ​ 2,210 ​ ​ — ​ ​ 450 ​ ​ — ​ ​ 8,660 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total multi-family residential ​ ​ 498 ​ ​ 2,395 ​ ​ 3,107 ​ ​ 2,210 ​ ​ — ​ ​ 450 ​ ​ — ​ ​ 8,660 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 1,246 ​ ​ 481 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,686 ​ ​ 4,413 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ 146 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 146 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total construction ​ ​ 1,246 ​ ​ 481 ​ ​ 146 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,686 ​ ​ 4,559 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 3,260 ​ ​ 19,101 ​ ​ 8,796 ​ ​ 4,389 ​ ​ 3,085 ​ ​ 8,084 ​ ​ 3,931 ​ ​ 50,646 Special mention ​ ​ — ​ — ​ ​ 3,383 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,383 Substandard ​ — ​ — ​ ​ 320 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 320 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total commercial real estate ​ ​ 3,260 ​ ​ 19,101 ​ ​ 12,499 ​ ​ 4,389 ​ ​ 3,085 ​ ​ 8,084 ​ ​ 3,931 ​ ​ 54,349 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 490 ​ ​ 1,842 ​ ​ 7,783 ​ ​ 260 ​ ​ 192 ​ ​ 335 ​ ​ 3,241 ​ ​ 14,143 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total commercial business ​ ​ 490 ​ ​ 1,842 ​ ​ 7,783 ​ ​ 260 ​ ​ 192 ​ ​ 335 ​ ​ 3,241 ​ ​ 14,143 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 188 ​ ​ 763 ​ ​ 678 ​ ​ 110 ​ ​ 48 ​ ​ 16 ​ ​ 62 ​ ​ 1,865 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total consumer ​ ​ 188 ​ ​ 763 ​ ​ 678 ​ ​ 110 ​ ​ 48 ​ ​ 16 ​ ​ 62 ​ ​ 1,865 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5 ​ ​ 5 Total loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 7,293 ​ $ 37,999 ​ $ 30,918 ​ $ 13,460 ​ $ 6,107 ​ $ 35,185 ​ $ 14,253 ​ $ 145,215 Special mention ​ ​ — ​ — ​ ​ 3,383 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,383 Substandard ​ — ​ — ​ ​ 466 ​ ​ — ​ ​ — ​ ​ 612 ​ ​ — ​ ​ 1,078 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total loans ​ $ 7,293 ​ $ 37,999 ​ $ 34,767 ​ $ 13,460 ​ $ 6,107 ​ $ 35,797 ​ $ 14,253 ​ $ 149,676 Current period gross charge-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5 ​ $ 5 ​ ​ The following table presents the recorded investment in loans by risk category as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to- Multi- ​ ​ ​ ​ ​ ​ ​ ​ ​ Four Family ​ Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Pass ​ $ 64,206 ​ $ 8,261 ​ $ 7,834 ​ $ 45,256 ​ $ 14,687 ​ $ 2,122 ​ $ 142,366 Special mention ​ — ​ — ​ — ​ 3,410 ​ — ​ — ​ 3,410 Substandard ​ 732 ​ — ​ — ​ — ​ — ​ — ​ 732 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — Loss ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 64,938 ​ $ 8,261 ​ $ 7,834 ​ $ 48,666 ​ $ 14,687 ​ $ 2,122 ​ $ 146,508 ​ Loan Modification Disclosures Pursuant to ASU 2022-02 Financial Instruments – Credit Losses (Topic 326) – Troubled Debt Restructurings and Vintage Disclosures There were no loans that were both experiencing financial difficulty and modified as defined under ASU 2022-02 during the three months ended March 31, 2023. Troubled Debt Restructuring (“TDR”) Disclosures Prior to the Adoption of ASU 2022-02 A TDR can involve loans remaining on nonaccrual, moving to nonaccrual, or continuing on accrual status, depending on the individual facts and circumstances of the restructuring. A TDR on nonaccrual status is restored to accrual status when the borrower has demonstrated the ability to make future payments in accordance with the restructured terms, including consistent and timely payments for at least six consecutive months in accordance with the restructured terms. The following table summarizes the Company’s TDRs by accrual status as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Related ​ ​ Accruing ​ Nonaccrual ​ Total ​ Allowance ​ ​ (In thousands) One-to-four family residential ​ $ 298 ​ $ 85 ​ $ 383 ​ $ 21 Commercial real estate ​ 125 ​ — ​ 125 ​ — Commercial business ​ 279 ​ — ​ 279 ​ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 702 ​ $ 85 ​ $ 787 ​ $ 35 ​ At December 31, 2022 there were no commitments to lend additional funds to debtors whose loan terms have been modified in a TDR (both accruing and nonaccruing). There were no TDRs that were restructured during the three months ended March 31, 2022. There were no principal charge-offs recorded as a result of TDRs and there was no specific allowance for loan credit losses related to TDRs modified during the three-month period ended March 31, 2022. There were no TDRs modified within the previous 12 months for which there was a subsequent payment default (defined as the loan becoming more than 90 days past due, being moved to nonaccrual status, or the collateral being foreclosed upon) during the three-month period ended March 31, 2022. In the event that a TDR subsequently defaults, the Company evaluates the restructuring for possible impairment. As a result, the related allowance for credit losses may be increased or charge-offs may be taken to reduce the carrying amount of the loan.

Advances

Advances	3 Months Ended
	Mar. 31, 2023
Advances
Advances	5. Advances At March 31, 2023 and December 31, 2022, the Company had $25.0 million in advances outstanding from the Federal Reserve and $29.0 million in advances outstanding from the FHLB, respectively. On June 27, 2019, the Company borrowed $10.0 million from the FHLB as a putable fixed-rate advance with an original maturity date of June 27, 2024 and bearing an interest rate of 1.73% . On June 27, 2022, the FHLB exercised its put option on this advance. During the three-month period ended March 31, 2023, the Company utilized a series of short-term fixed-rate bullet advances from the FHLB in order to meet daily liquidity requirements and to fund growth in earning assets. The advances had an average term of six days. The following table sets forth information on the short-term FHLB advances during the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, ​ 2023 2022 ​ ​ (Dollars in thousands) Outstanding at period-end ​ $ — ​ $ — Average amount outstanding ​ ​ 20,422 ​ ​ — Maximum amount outstanding at any month-end ​ ​ 26,000 ​ ​ — Weighted average interest rate: ​ ​ ​ ​ During period ​ ​ 4.57 % ​ — End of period ​ ​ — % ​ — ​ In addition, during the three-month period ended March 31, 2023, the Company utilized a $5.0 million line of credit with the FHLB. The following table sets forth information on the FHLB line of credit advances during the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, ​ 2023 2022 ​ ​ (Dollars in thousands) Outstanding at period-end ​ $ — ​ $ — Average amount outstanding ​ ​ 5 ​ ​ — Maximum amount outstanding at any month-end ​ ​ 339 ​ ​ — Weighted average interest rate: ​ ​ ​ ​ During period ​ ​ 4.77 % ​ — End of period ​ ​ — % ​ — ​ The advances are secured under a blanket collateral agreement with the FHLB. At March 31, 2023, the carrying value of mortgage loans pledged as security for advances was $61.8 million. On March 12, 2023, the Federal Reserve created the BTFP to provide additional funding available to eligible depository institutions. The BTFP offers loans of up to one year in length to banks, savings associations, credit unions and other depository institutions which pledge collateral, such as U.S. Treasuries, U.S. agency securities and U.S. agency mortgage-backed securities. The collateral is valued at par, and advances under this program do not include any fees or prepayment penalties. With the introduction of the BTFP, the Company pledged as collateral U.S. agency mortgage-backed securities and borrowed $25.0 million from the BTFP at a fixed rate of 4.37% for a one-year

Supplemental Disclosure for Ear

Supplemental Disclosure for Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Supplemental Disclosure for Earnings Per Share
Supplemental Disclosure for Earnings Per Share	6. Supplemental Disclosure for Earnings Per Share Nonvested restricted stock shares and unallocated ESOP shares are not considered as outstanding for purposes of computing weighted average common shares outstanding. Potential dilutive common shares are excluded from the computation of diluted net income per common share in the periods where the effect would be antidilutive. Excluded from the computation of diluted net income per common share were weighted-average antidilutive shares totaling 89,403 for the three months ended March 31, 2023. No stock options for common stock and no restricted stock awards were excluded from the calculation of diluted net income per common share because their effect was antidilutive for the three-month period ended March 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, ​ 2023 2022 ​ ​ (Dollars in thousands, except per share data) Basic ​ ​ Earnings: ​ ​ Net income ​ $ 340 ​ $ 467 ​ ​ ​ ​ ​ ​ ​ Shares: ​ ​ ​ ​ Weighted average common shares outstanding ​ 2,700,728 ​ 2,811,781 ​ ​ ​ ​ ​ ​ ​ Net income per common share, basic ​ $ 0.13 ​ $ 0.17 ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ Earnings: ​ ​ ​ ​ Net income ​ $ 340 ​ $ 467 ​ ​ ​ ​ ​ ​ ​ Shares: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 2,700,728 ​ 2,811,781 Add: Dilutive effect of stock options ​ 101 ​ 2,519 Add: Dilutive effect of restricted stock ​ — ​ 2,167 ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding, as adjusted ​ 2,700,829 ​ 2,816,467 ​ ​ ​ ​ ​ ​ ​ Net income per common share, diluted ​ $ 0.13 ​ $ 0.17 ​

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Mar. 31, 2023
Employee Stock Ownership Plan
Employee Stock Ownership Plan	7 In connection with the Conversion, the Bank established a leveraged ESOP for eligible employees of the Company and the Bank. The ESOP trust purchased 204,789 shares of Company common stock at the initial public offering price of $10.00 per share financed by a 20-year term loan with the Company. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Company’s discretionary contributions to the ESOP and earnings on ESOP assets. The employer loan and the related interest income are not recognized in the consolidated financial statements as the debt is serviced by employer contributions. Dividends payable on allocated shares are charged to retained earnings and are satisfied by the allocation of cash dividends to participant accounts. Dividends payable on unallocated shares are not considered dividends for financial reporting purposes. Shares held by the ESOP trust are held in a suspense account and allocated to participant accounts as principal and interest payments are made by the ESOP to the Company. Payments of principal and interest are due annually on December 31 st As shares are committed to be released for allocation to participant accounts from collateral, the Company reports compensation expense equal to the average fair value of shares committed to be released during the year with a corresponding credit to stockholders’ equity and the shares become outstanding for earnings per share computations. The compensation expense is accrued throughout the year. Compensation expense recognized for the three-month period ended March 31, 2023 was $34,000. Compensation expense recognized for the three-month period ended March 31, 2022 was $39,000. The ESOP trust held 52,430 allocated shares and 152,359 unallocated shares of Company common stock at March 31, 2023. The fair value of the unallocated shares was $1.7 million at March 31, 2023.

Stock-based Compensation Plans

Stock-based Compensation Plans	3 Months Ended
	Mar. 31, 2023
Stock-based Compensation Plans
Stock-based Compensation Plans	8 . Stock-based Compensation Plans The Company’s stock-based compensation plans are described below. 2010 Equity Incentive Plan The Bank had an equity incentive plan (the “2010 Plan”) adopted on July 27, 2010 which was assumed by the Company in connection with the Conversion. Under the 2010 Plan, 127,849 shares of common stock, as adjusted for the Conversion exchange ratio, were approved for awards of stock options and restricted stock. As of March 31, 2023, on an adjusted basis, awards for stock options totaling 78,010 shares and awards for restricted stock totaling 34,250 shares of Company common stock have been granted, net of any forfeitures, to participants in the 2010 Plan. No additional awards may be made under the 2010 Plan. 2019 Equity Incentive Plan In September 2019, the Company’s stockholders approved the 2019 Equity Incentive Plan (the “2019 Plan”) which provides for the award of stock options and restricted stock. Under the 2019 Plan, the Compensation Committee may grant stock options that, upon exercise, result in the issuance of 255,987 shares of common stock and may grant 102,395 shares of restricted stock. At March 31, 2023, awards for stock options totaling 20,900 shares and awards for restricted stock totaling 48,319 shares of the Company common stock have been granted to participants in the 2019 Plan. The vesting dates for stock option awards are determined by the Compensation Committee appointed by the board of directors. All unvested options become exercisable upon an option holder’s death or disability and in the event of a change in control. Option prices may not be less than the fair market value of the underlying stock at the date of the grant of the award. Restricted stock awards generally vest over a period of five years. The Plan provides that unvested restricted stock awards become fully vested upon a holder’s death or disability and in the event of a change in control. Compensation expense is recognized over the requisite service period with a corresponding credit to stockholders' equity. The requisite service period for restricted shares is the vesting period. The fair value of stock options granted is determined at the date of grant using the Black-Scholes option pricing model. Expected volatility is based on historical volatility of the Company's stock. The expected term of options granted represents the period of time that options are expected to be outstanding and is based on the average of the vesting term and the original contractual term as the Company does not have sufficient historical exercise data to provide a reasonable basis on which to estimate the expected term due to the limited period of time its common shares have been publicly traded. The risk-free rate for the expected life of the options is based on the U.S. Treasury yield curve in effect at the time of grant. A summary of option activity as of March 31, 2023, and changes during the three-month period then ended is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Number ​ Weighted ​ Remaining ​ Aggregate ​ ​ of ​ Average Exercise ​ Contractual ​ Intrinsic ​ Shares Price Term Value Outstanding at beginning of year 89,637 $ 13.38 ​ ​ ​ ​ ​ Granted — ​ ​ — ​ ​ ​ ​ ​ Exercised — ​ ​ — ​ ​ ​ ​ ​ Forfeited or expired — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at end of period 89,637 $ 13.38 ​ 7.3 $ 1,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest 89,637 $ 13.38 ​ 7.3 $ 1,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at end of period 60,438 $ 13.37 ​ 6.9 $ 1,000 ​ For the three-month periods ended March 31, 2023 and 2022, the Company recognized $16,000 and $13,000, respectively, in compensation expense related to the stock option plan. At March 31, 2023, there was $94,000 of unrecognized compensation expense related to nonvested stock options. The compensation expense is expected to be recognized over a weighted average period of 2.2 years. A summary of the activity for the Company’s nonvested restricted shares as of March 31, 2023 and changes during the three-month period then ended is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number ​ Average ​ ​ of ​ Grant-Date ​ Shares Fair Value Nonvested at beginning of year 32,839 $ 14.05 Granted — ​ ​ — Vested — ​ ​ — Forfeited — ​ ​ — ​ ​ ​ ​ ​ ​ Nonvested at end of period 32,839 $ 14.05 ​ For the three-month periods ended March 31, 2023 and 2022, the Company recognized $51,000 and $41,000, respectively, in compensation expense related to the restricted stock plans. At March 31, 2023, unrecognized compensation expense related to nonvested restricted shares was $407,000. The compensation expense is expected to be recognized over the remaining weighted average vesting period of 2.5 years.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Measurements
Fair Value Measurements	9 FASB ASC Topic 820 , Fair Value Measurement, Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets Level 2: Inputs to the valuation methodology include quoted market prices for similar assets or liabilities in active markets; quoted market prices for identical or similar assets or liabilities in markets that are not active; or inputs that are derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth on the following page. These valuation methodologies were applied to all of the Company’s financial and nonfinancial assets carried at fair value or the lower of cost or fair value. The table below presents the balances of assets measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022. There were no assets measured at fair value on a nonrecurring basis as of March 31, 2023 and December 31, 2022. The Company had no liabilities measured at fair value as of March 31, 2023 and December 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Level 1 Level 2 Level 3 Total ​ ​ (In thousands) March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets Measured on a Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Agency MBS ​ $ — ​ $ 11,208 ​ $ — ​ $ 11,208 Agency CMO ​ — ​ 18,519 ​ — ​ 18,519 U.S. Treasury securities ​ ​ — ​ ​ 9,527 ​ ​ — ​ ​ 9,527 U.S. Government agency obligations ​ ​ — ​ ​ 1,853 ​ ​ — ​ ​ 1,853 Municipal obligations ​ — ​ 60,452 ​ — ​ 60,452 Total securities available for sale ​ $ — ​ $ 101,559 ​ $ — ​ $ 101,559 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets Measured on a Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Agency MBS ​ $ — ​ $ 11,389 ​ $ — ​ $ 11,389 Agency CMO ​ — ​ 18,994 ​ — ​ 18,994 U.S. Treasury securities ​ — ​ 9,439 ​ — ​ 9,439 U.S. Government agency obligations ​ — ​ 1,813 ​ — ​ 1,813 Municipal obligations ​ — ​ 63,716 ​ — ​ 63,716 Total securities available for sale ​ $ — ​ $ 105,351 ​ $ — ​ $ 105,351 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value is based upon quoted market prices, where available. If quoted market prices are not available, fair value is based on internally developed models or obtained from third parties that primarily use, as inputs, observable market-based parameters or a matrix pricing model that employs the Bond Market Association’s standard calculations for cash flow and price/yield analysis and observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, or the lower of cost or fair value. These adjustments may include unobservable parameters. Any such valuation adjustments have been applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Securities Available for Sale. There have been no changes in the valuation techniques and related inputs used for assets measured at fair value on a recurring and nonrecurring basis during the three months ended March 31, 2023 and 2022. There were no transfers into or out of the Company’s Level 3 financial assets for the three-month periods ended March 31, 2023 and 2022. GAAP requires disclosure of the fair value of financial assets and financial liabilities, whether or not recognized in the balance sheet. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The estimated fair values of the Company’s financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements Using ​ Value Level 1 Level 2 Level 3 ​ ​ (In thousands) March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ Cash and cash equivalents ​ $ 4,471 ​ $ 4,471 ​ $ — ​ $ — Securities available for sale ​ 101,559 ​ — ​ 101,559 ​ — Securities held to maturity ​ 13 ​ — ​ 13 ​ — Loans, net ​ 147,198 ​ — ​ — ​ 143,846 FHLB stock ​ 1,778 ​ N/A ​ N/A ​ N/A Accrued interest receivable ​ 1,042 ​ — ​ 1,042 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ ​ 27,936 ​ ​ 27,936 ​ ​ — ​ ​ — Interest-bearing deposits ​ ​ 177,701 ​ ​ — ​ ​ — ​ ​ 176,244 Advance from Federal Reserve ​ ​ 25,000 ​ ​ — ​ ​ 24,884 ​ ​ — Accrued interest payable ​ ​ 82 ​ ​ — ​ ​ 82 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 5,684 ​ $ 5,684 ​ $ — ​ $ — Securities available for sale ​ 105,351 ​ — ​ 105,351 ​ — Securities held to maturity ​ 17 ​ — ​ 17 ​ — Loans, net ​ 144,379 ​ — ​ — ​ 138,744 FHLB stock ​ 1,778 ​ N/A ​ N/A ​ N/A Accrued interest receivable ​ 1,323 ​ — ​ 1,323 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ 28,232 ​ 28,232 ​ — ​ — Interest-bearing deposits ​ 177,832 ​ — ​ — ​ 175,969 Advance from FHLB ​ ​ 29,000 ​ ​ — ​ ​ 29,000 ​ ​ — Accrued interest payable ​ ​ 12 ​ ​ — ​ ​ 12 ​ ​ — ​

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2023
Revenue from Contracts with Customers
Revenue from Contracts with Customers	10. Revenue from Contracts with Customers ​ Substantially all of the Company’s revenue from contracts with customers in the scope of FASB ASC 606 is recognized within noninterest income. The following table presents the Company’s sources of noninterest income and other income within the scope of FASB ASC 606 for the three months ended March 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2023 ​ 2022 ​ ​ (In thousands) Deposit account service charges ​ $ 91 ​ $ 81 Brokered loan fees ​ ​ 15 ​ ​ 43 ATM and debit card fee income ​ ​ 139 ​ ​ 136 Other income ​ ​ 8 ​ ​ 1 Revenue from contracts with customers ​ ​ 253 ​ ​ 261 ​ ​ ​ ​ ​ ​ ​ Net loss on sales of securities available for sale ​ ​ (27) ​ ​ — Increase in cash surrender value of life insurance ​ ​ 14 ​ ​ 14 Other income ​ ​ 4 ​ ​ 10 Other noninterest income ​ ​ (9) ​ ​ 24 ​ ​ ​ ​ ​ ​ ​ Total noninterest income ​ $ 244 ​ $ 285 ​ A description of the Company’s revenue streams accounted for under FASB ASC 606 follows: Deposit Account Service Charges Brokered Loan Fees ATM and Debit Card Fee Income Other Income

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
Recent Accounting Pronouncements
Recent Accounting Pronouncements	11. Recent Accounting Pronouncements The following are summaries of recently issued or adopted accounting pronouncements that impact the accounting and reporting practices of the Company. The Company is an emerging growth company, and as such will be subject to the effective dates noted for private companies if they differ from the effective dates noted for public companies. In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credits Structures Using the Proportional Amortization Method ​ The Company has determined that all other recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial statements or do not apply to its operations.

Presentation of Interim Infor_2

Presentation of Interim Information (Policies)	3 Months Ended
	Mar. 31, 2023
Presentation of Interim Information
Presentation of Interim Information	Mid-Southern Bancorp, Inc., (the "Company") was incorporated in January 2018 and became the holding company for Mid-Southern Savings Bank, FSB (the "Bank"), on July 11, 2018, upon the completion of the Bank’s conversion from the mutual holding company ownership structure and the Company’s related public stock offering. Please see Note 2 – Conversion and Stock Issuance for more information. The accompanying unaudited consolidated financial statements and notes have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by U.S. Generally Accepted Accounting Principles ("GAAP") for complete financial statements. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K filed with the SEC on March 24, 2023 ("2022 Form 10-K"). In the opinion of management, the unaudited consolidated financial statements include all adjustments considered necessary for a fair presentation of the unaudited interim consolidated financial statements in accordance with GAAP. All of these adjustments are of a normal, recurring nature. Such adjustments are the only adjustments included in the unaudited consolidated financial statements. Interim results are not necessarily indicative of results for a full year or any other period. The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. All material intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications had no effect on net income or stockholders’ equity. In preparing the unaudited consolidated financial statements, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the allowance for credit losses, the valuation of foreclosed real estate and the underlying collateral of individually analyzed loans, deferred tax assets, and the fair value of financial instruments. On April 5, 2012, the Jumpstart Our Business Startups Act ("JOBS Act") was signed into law. The JOBS Act contains provisions that, among other things, reduce certain reporting requirements for qualifying public companies. As an "emerging growth company" we may delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. We intend to take advantage of the benefits of this extended transition period. Accordingly, our consolidated financial statements may not be comparable to companies that comply with such new or revised accounting standards.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2023
Recent Accounting Pronouncements
Recent Accounting Pronouncements	The following are summaries of recently issued or adopted accounting pronouncements that impact the accounting and reporting practices of the Company. The Company is an emerging growth company, and as such will be subject to the effective dates noted for private companies if they differ from the effective dates noted for public companies. In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credits Structures Using the Proportional Amortization Method ​ The Company has determined that all other recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial statements or do not apply to its operations.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investment Securities
Schedule of fair values of debt securities available-for-sale or held-to-maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ (In thousands) ​ Amortized ​ Unrealized ​ Unrealized ​ Fair March 31, 2023 Cost Gains Losses Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ Agency MBS ​ $ 12,950 ​ $ — ​ $ 1,742 ​ $ 11,208 Agency CMO ​ 20,564 ​ ​ 43 ​ ​ 2,088 ​ ​ 18,519 ​ ​ 33,514 ​ ​ 43 ​ ​ 3,830 ​ ​ 29,727 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ 9,843 ​ ​ — ​ ​ 316 ​ ​ 9,527 U.S. Government agency obligations ​ 1,983 ​ ​ — ​ ​ 130 ​ ​ 1,853 Municipal obligations ​ 68,206 ​ ​ 74 ​ ​ 7,828 ​ ​ 60,452 ​ ​ ​ 80,032 ​ ​ 74 ​ ​ 8,274 ​ ​ 71,832 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale ​ $ 113,546 ​ $ 117 ​ $ 12,104 ​ $ 101,559 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency MBS ​ $ 13 ​ $ — ​ $ — ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities held to maturity ​ $ 13 ​ $ — ​ $ — ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency MBS ​ $ 13,257 ​ $ — ​ $ 1,868 ​ $ 11,389 Agency CMO ​ 21,233 ​ ​ 18 ​ ​ 2,257 ​ ​ 18,994 ​ ​ 34,490 ​ ​ 18 ​ ​ 4,125 ​ ​ 30,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ 9,840 ​ ​ — ​ ​ 401 ​ ​ 9,439 U.S. Government agency obligations ​ 1,996 ​ ​ — ​ ​ 183 ​ ​ 1,813 Municipal obligations ​ 73,442 ​ ​ 18 ​ ​ 9,744 ​ ​ 63,716 ​ ​ ​ 85,278 ​ ​ 18 ​ ​ 10,328 ​ ​ 74,968 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale ​ $ 119,768 ​ $ 36 ​ $ 14,453 ​ $ 105,351 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agency MBS ​ $ 17 ​ $ — ​ $ — ​ $ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities held to maturity ​ $ 17 ​ $ — ​ $ — ​ $ 17 ​
Schedule of maturities of debt securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ Amortized Fair Amortized Fair (In thousands) ​ Cost ​ Value ​ Cost ​ Value Due in one year or less ​ $ 4,586 ​ $ 4,481 ​ $ — ​ $ — Due after one year through five years ​ 11,208 ​ ​ 10,801 ​ ​ — ​ ​ — Due after five years through ten years ​ 4,313 ​ ​ 4,090 ​ ​ — ​ ​ — Due after ten years ​ 59,925 ​ ​ 52,460 ​ ​ — ​ ​ — ​ ​ 80,032 ​ ​ 71,832 ​ ​ — ​ ​ — MBS and CMO ​ 33,514 ​ ​ 29,727 ​ ​ 13 ​ ​ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 113,546 ​ $ 101,559 ​ $ 13 ​ $ 13 ​
Schedule of fair value and related unrealized losses of temporarily impaired investment securities, aggregated by investment category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Gross (Dollars in thousands) ​ Investment ​ Fair ​ Unrealized March 31, 2023 ​ Positions ​ Value ​ Losses Securities available for sale: ​ ​ Continuous loss position less than 12 months: ​ ​ Agency CMO ​ 4 ​ $ 1,144 $ 16 Municipal obligations ​ 10 ​ ​ 5,287 ​ ​ 236 Total less than 12 months ​ 14 ​ ​ 6,431 ​ ​ 252 ​ ​ ​ ​ ​ ​ ​ ​ ​ Continuous loss position more than 12 months: ​ ​ ​ ​ ​ U.S. Treasury securities 6 ​ 9,527 ​ 316 U.S. Government agency obligations 1 ​ 1,852 ​ 130 Agency MBS 13 ​ 11,208 ​ 1,742 Agency CMO 15 ​ 15,948 ​ 2,072 Municipal obligations 82 ​ 45,997 ​ 7,592 Total more than 12 months 117 ​ 84,532 ​ 11,852 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 131 ​ $ 90,963 ​ $ 12,104 ​ Information pertaining to investment securities available for sale with gross unrealized losses at December 31, 2022, aggregated by investment category and the length of time that individual investment securities have been in a continuous loss position, follows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Gross (Dollars in thousands) ​ Investment ​ Fair ​ Unrealized December 31, 2022 Positions Value Losses Securities available for sale: ​ ​ Continuous loss position less than 12 months: ​ ​ U.S. Treasury securities ​ 6 ​ $ 9,439 ​ $ 401 U.S. Government agency obligations ​ 1 ​ ​ 1,812 ​ ​ 183 Agency MBS ​ 8 ​ ​ 4,701 ​ ​ 559 Agency CMO ​ 8 ​ ​ 4,212 ​ ​ 204 Municipal obligations 89 ​ ​ 46,971 ​ ​ 6,309 Total less than 12 months ​ 112 ​ ​ 67,135 ​ ​ 7,656 ​ ​ ​ ​ ​ ​ ​ ​ ​ Continuous loss position more than 12 months: ​ ​ ​ ​ ​ ​ ​ Agency MBS 5 ​ ​ 6,687 ​ ​ 1,309 Agency CMO 12 ​ ​ 13,357 ​ ​ 2,053 Municipal obligations 25 ​ ​ 12,588 ​ ​ 3,435 Total more than 12 months 42 ​ ​ 32,632 ​ ​ 6,797 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 154 ​ $ 99,767 ​ $ 14,453 ​

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]
Schedule of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (In thousands) ​ 2023 ​ 2022 Real estate mortgage loans: ​ ​ One-to-four family residential ​ $ 66,100 ​ $ 64,747 Multi-family residential ​ 8,660 ​ 8,271 Construction ​ ​ 4,559 ​ ​ 7,847 Commercial real estate ​ 54,349 ​ 48,590 Commercial business loans ​ 14,143 ​ 14,675 Consumer loans ​ 1,865 ​ 2,077 Total loans ​ 149,676 ​ 146,207 ​ ​ ​ ​ ​ ​ ​ Deferred loan origination fees and costs, net ​ (154) ​ (136) Allowance for credit losses on loans ​ (2,324) ​ (1,692) ​ ​ ​ ​ ​ ​ ​ Loans, net ​ $ 147,198 ​ $ 144,379 ​
Schedule of components of Company's recorded investment in loans	The following table provides the components of the Company’s recorded investment in loans at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Recorded Investment in Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal loan balance ​ $ 64,747 ​ $ 8,271 ​ $ 7,847 ​ $ 48,590 ​ $ 14,675 ​ $ 2,077 ​ $ 146,207 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable ​ 178 ​ 14 ​ ​ 19 ​ ​ 182 ​ ​ 36 ​ ​ 8 ​ ​ 437 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred loan fees/costs ​ 13 ​ (24) ​ ​ (32) ​ ​ (106) ​ ​ (24) ​ ​ 37 ​ ​ (136) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 64,938 ​ $ 8,261 ​ $ 7,834 ​ $ 48,666 ​ $ 14,687 ​ $ 2,122 ​ $ 146,508 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Investment in Loans as Evaluated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated ​ $ 490 ​ $ — ​ $ — ​ $ 125 ​ $ 279 ​ $ — ​ $ 894 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collectively evaluated ​ 64,448 ​ 8,261 ​ ​ 7,834 ​ ​ 48,541 ​ ​ 14,408 ​ ​ 2,122 ​ ​ 145,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 64,938 ​ $ 8,261 ​ $ 7,834 ​ $ 48,666 ​ $ 14,687 ​ $ 2,122 ​ $ 146,508 ​
Schedule of analysis of allowance for loan losses	An analysis of the allowance for credit losses on loans as of December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Ending allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated ​ $ 21 ​ $ — ​ $ — ​ $ — ​ $ 14 ​ $ — ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collectively evaluated ​ 684 ​ 86 ​ ​ 18 ​ ​ 650 ​ ​ 185 ​ ​ 34 ​ ​ 1,657 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 705 ​ $ 86 ​ $ 18 ​ $ 650 ​ $ 199 ​ $ 34 ​ $ 1,692 ​ ​ An analysis of the changes in the allowance for credit losses on loans for the three months ended March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 705 ​ $ 86 ​ $ 18 ​ $ 650 ​ $ 199 ​ $ 34 ​ $ 1,692 Impact of adopting ASC 326 ​ 12 ​ ​ 303 ​ ​ 83 ​ ​ 125 ​ ​ 8 ​ ​ 26 ​ ​ 557 Provisions ​ 4 ​ ​ 25 ​ ​ (41) ​ ​ 104 ​ ​ (13) ​ ​ (1) ​ ​ 78 Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (5) ​ ​ (5) Recoveries ​ 2 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 723 ​ $ 414 ​ $ 60 ​ $ 879 ​ $ 194 ​ $ 54 ​ $ 2,324 ​ An analysis of the changes in the allowance for credit losses on loans for the three months ended March 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-Four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Family ​ Multi-Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 873 ​ $ 102 ​ $ 25 ​ $ 363 ​ $ 127 ​ $ 33 ​ $ 1,523 Provisions ​ (93) ​ ​ (8) ​ ​ (5) ​ ​ 112 ​ ​ (7) ​ ​ 1 ​ ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (4) ​ ​ (4) Recoveries ​ 2 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 782 ​ $ 94 ​ $ 20 ​ $ 475 ​ $ 120 ​ $ 31 ​ $ 1,522 ​
Schedule of amortized cost and allowance for credit losses allocated to loans	The following table summarizes the amortized cost and allowance for credit losses allocated to loans which are collaterally dependent to determine expected credit losses as of March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocated ​ Real Estate Other Total Allowance ​ ​ (In thousands) One-to-four family residential ​ $ 464 ​ $ — ​ $ 464 ​ $ 21 Commercial real estate ​ 113 ​ ​ — ​ ​ 113 ​ ​ — Commercial business ​ — ​ ​ 261 ​ ​ 261 ​ ​ 10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 577 ​ $ 261 ​ $ 838 ​ $ 31 ​ ​ The following table summarizes the Company’s individually analyzed loans for the three-month period ended March 31, 2022. The Company did not recognize any interest income on individually analyzed loans using the cash receipts method of accounting for the three-month period ended March 31, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, 2022 ​ ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Investment Recognized ​ ​ ​ Loans with no related allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 717 ​ $ — Commercial real estate ​ ​ 100 ​ ​ 1 Commercial business ​ ​ — ​ ​ — Consumer ​ ​ 1 ​ ​ — ​ ​ $ 818 ​ $ 1 ​ ​ ​ ​ ​ ​ ​ Loans with an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 245 ​ $ 3 Commercial real estate ​ ​ 68 ​ ​ 1 Commercial business ​ ​ 326 ​ ​ 4 Consumer ​ ​ — ​ ​ — ​ ​ $ 639 ​ $ 8 ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 962 ​ $ 3 Commercial real estate ​ ​ 168 ​ ​ 2 Commercial business ​ ​ 326 ​ ​ 4 Consumer ​ ​ 1 ​ ​ — ​ ​ $ 1,457 ​ $ 9 ​ ​ The following table summarizes the Company’s individually analyzed loans as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ ​ ​ ​ ​ Unpaid ​ ​ ​ ​ Recorded ​ Principal ​ Related ​ Investment Balance Allowance ​ ​ (In thousands) Loans with no related allowance recorded: ​ ​ ​ One-to-four family residential ​ $ 762 ​ $ 820 ​ $ — Commercial real estate ​ 60 ​ 60 ​ — Commercial business ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ ​ $ 822 ​ $ 880 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans with an allowance recorded: ​ ​ ​ ​ ​ One-to-four family residential ​ $ 267 ​ $ 274 ​ $ 21 Commercial real estate ​ 66 ​ 68 ​ — Commercial business ​ 279 ​ 279 ​ 14 Consumer ​ — ​ — ​ — ​ ​ $ 612 ​ $ 621 ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 1,029 ​ $ 1,094 ​ $ 21 Commercial real estate ​ 126 ​ 128 ​ — Commercial business ​ 279 ​ 279 ​ 14 Consumer ​ — ​ — ​ — ​ ​ $ 1,434 ​ $ 1,501 ​ $ 35 ​
Schedule of recorded investment in nonperforming loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At March 31, 2023 ​ At December 31, 2022 ​ ​ ​ ​ ​ Nonaccrual ​ Loans 90+ ​ ​ ​ ​ Nonaccrual ​ Loans 90+ ​ ​ ​ ​ ​ Loans ​ Days ​ ​ ​ ​ Loans ​ Days ​ ​ Nonaccrual ​ Without an ​ Past Due ​ Nonaccrual ​ Without an ​ Past Due ​ Loans Allowance Still Accruing Loans Allowance Still Accruing ​ (In thousands) One-to-four family residential ​ $ 612 ​ $ 171 $ — $ 732 $ 193 $ — Construction ​ 146 ​ — ​ — ​ — ​ — ​ — Commercial real estate ​ 320 ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 1,078 ​ $ 171 ​ $ — ​ $ 732 ​ $ 193 ​ $ — ​
Schedule of aging of the recorded investment in past due loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 Days ​ 60 ‑ 89 Days ​ 90 Days ​ Total ​ Accruing ​ Nonaccrual ​ Total ​ Current Past Due Past Due Past Due Past Due Loans Loans Loans ​ ​ (In thousands) March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 65,022 ​ $ 466 ​ $ — ​ $ — ​ $ 466 ​ $ 65,488 ​ $ 612 ​ $ 66,100 Multi-family residential ​ 8,660 ​ — ​ — ​ — ​ — ​ 8,660 ​ — ​ 8,660 Construction ​ 4,413 ​ — ​ — ​ — ​ — ​ 4,413 ​ 146 ​ 4,559 Commercial real estate ​ 53,976 ​ 53 ​ — ​ — ​ 53 ​ 54,029 ​ 320 ​ 54,349 Commercial business ​ 14,143 ​ — ​ — ​ — ​ — ​ 14,143 ​ — ​ 14,143 Consumer ​ 1,846 ​ 19 ​ — ​ — ​ 19 ​ 1,865 ​ — ​ 1,865 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 148,060 ​ $ 538 ​ $ — ​ $ — ​ $ 538 ​ $ 148,598 ​ $ 1,078 ​ $ 149,676 ​ The following tables present the aging of the recorded investment in loans at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Over ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 Days ​ 60 ‑ 89 Days ​ 90 Days ​ Total ​ Accruing ​ Nonaccrual ​ Total ​ Current Past Due Past Due Past Due Past Due Loans Loans Loans ​ ​ (In thousands) December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family residential ​ $ 63,610 ​ $ 596 ​ $ — ​ $ — ​ $ 596 ​ $ 64,206 ​ $ 732 ​ $ 64,938 Multi-family residential ​ 8,261 ​ — ​ — ​ — ​ — ​ 8,261 ​ — ​ 8,261 Construction ​ 7,834 ​ — ​ — ​ — ​ — ​ 7,834 ​ — ​ 7,834 Commercial real estate ​ 48,222 ​ 444 ​ — ​ — ​ 444 ​ 48,666 ​ — ​ 48,666 Commercial business ​ 14,676 ​ 11 ​ — ​ — ​ 11 ​ 14,687 ​ — ​ 14,687 Consumer ​ 2,122 ​ — ​ — ​ — ​ — ​ 2,122 ​ — ​ 2,122 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 144,725 ​ $ 1,051 ​ $ — ​ $ — ​ $ 1,051 ​ $ 145,776 ​ $ 732 ​ $ 146,508 ​
Schedule of risk category of loans by recorded investment	​ The following table shows the amortized cost of loans, segregated by portfolio segment, risk category and year of origination as of March 31, 2023 and gross charge-offs for the three months ended March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Loans ​ Total ​ ​ (In thousands) One-to-four family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,611 ​ $ 13,417 ​ $ 10,554 ​ $ 6,491 ​ $ 2,782 ​ $ 26,300 ​ $ 4,333 ​ $ 65,488 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 612 ​ ​ — ​ ​ 612 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total one-to-four family residential ​ ​ 1,611 ​ ​ 13,417 ​ ​ 10,554 ​ ​ 6,491 ​ ​ 2,782 ​ ​ 26,912 ​ ​ 4,333 ​ ​ 66,100 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Multi-family residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 498 ​ ​ 2,395 ​ ​ 3,107 ​ ​ 2,210 ​ ​ — ​ ​ 450 ​ ​ — ​ ​ 8,660 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total multi-family residential ​ ​ 498 ​ ​ 2,395 ​ ​ 3,107 ​ ​ 2,210 ​ ​ — ​ ​ 450 ​ ​ — ​ ​ 8,660 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 1,246 ​ ​ 481 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,686 ​ ​ 4,413 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ 146 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 146 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total construction ​ ​ 1,246 ​ ​ 481 ​ ​ 146 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,686 ​ ​ 4,559 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 3,260 ​ ​ 19,101 ​ ​ 8,796 ​ ​ 4,389 ​ ​ 3,085 ​ ​ 8,084 ​ ​ 3,931 ​ ​ 50,646 Special mention ​ ​ — ​ — ​ ​ 3,383 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,383 Substandard ​ — ​ — ​ ​ 320 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 320 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total commercial real estate ​ ​ 3,260 ​ ​ 19,101 ​ ​ 12,499 ​ ​ 4,389 ​ ​ 3,085 ​ ​ 8,084 ​ ​ 3,931 ​ ​ 54,349 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 490 ​ ​ 1,842 ​ ​ 7,783 ​ ​ 260 ​ ​ 192 ​ ​ 335 ​ ​ 3,241 ​ ​ 14,143 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total commercial business ​ ​ 490 ​ ​ 1,842 ​ ​ 7,783 ​ ​ 260 ​ ​ 192 ​ ​ 335 ​ ​ 3,241 ​ ​ 14,143 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 188 ​ ​ 763 ​ ​ 678 ​ ​ 110 ​ ​ 48 ​ ​ 16 ​ ​ 62 ​ ​ 1,865 Special mention ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total consumer ​ ​ 188 ​ ​ 763 ​ ​ 678 ​ ​ 110 ​ ​ 48 ​ ​ 16 ​ ​ 62 ​ ​ 1,865 Current period gross charge-offs ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5 ​ ​ 5 Total loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 7,293 ​ $ 37,999 ​ $ 30,918 ​ $ 13,460 ​ $ 6,107 ​ $ 35,185 ​ $ 14,253 ​ $ 145,215 Special mention ​ ​ — ​ — ​ ​ 3,383 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,383 Substandard ​ — ​ — ​ ​ 466 ​ ​ — ​ ​ — ​ ​ 612 ​ ​ — ​ ​ 1,078 Doubtful ​ ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Loss ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total loans ​ $ 7,293 ​ $ 37,999 ​ $ 34,767 ​ $ 13,460 ​ $ 6,107 ​ $ 35,797 ​ $ 14,253 ​ $ 149,676 Current period gross charge-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5 ​ $ 5 ​ ​ The following table presents the recorded investment in loans by risk category as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to- Multi- ​ ​ ​ ​ ​ ​ ​ ​ ​ Four Family ​ Family ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Residential ​ Construction ​ Real Estate ​ Business ​ Consumer ​ Total ​ ​ (In thousands) Pass ​ $ 64,206 ​ $ 8,261 ​ $ 7,834 ​ $ 45,256 ​ $ 14,687 ​ $ 2,122 ​ $ 142,366 Special mention ​ — ​ — ​ — ​ 3,410 ​ — ​ — ​ 3,410 Substandard ​ 732 ​ — ​ — ​ — ​ — ​ — ​ 732 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — Loss ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 64,938 ​ $ 8,261 ​ $ 7,834 ​ $ 48,666 ​ $ 14,687 ​ $ 2,122 ​ $ 146,508 ​
Schedule of TDRs by accrual status	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Related ​ ​ Accruing ​ Nonaccrual ​ Total ​ Allowance ​ ​ (In thousands) One-to-four family residential ​ $ 298 ​ $ 85 ​ $ 383 ​ $ 21 Commercial real estate ​ 125 ​ — ​ 125 ​ — Commercial business ​ 279 ​ — ​ 279 ​ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ $ 702 ​ $ 85 ​ $ 787 ​ $ 35 ​
ASC 326
Financing Receivable, Allowance for Credit Losses [Line Items]
Schedule of total impact of the adoption	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 ,2023 ​ As reported under Pre-ASC 326 Impact of ASC 326 (In thousands) ​ ASC 326 ​ Adoption ​ Adoption Allowance for credit losses on loans: ​ ​ ​ One-to-four family residential ​ $ 717 ​ $ 705 ​ $ 12 Multi-family residential ​ 389 ​ 86 ​ 303 Construction ​ ​ 101 ​ ​ 18 ​ ​ 83 Commercial real estate ​ 775 ​ 650 ​ 125 Commercial business ​ 207 ​ 199 ​ 8 Consumer ​ 60 ​ 34 ​ 26 Total allowance for credit losses on loans ​ $ 2,249 ​ $ 1,692 ​ $ 557 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total allowance for credit losses on unfunded loan commitments ​ $ 73 ​ $ — ​ $ 73 ​

Advances (Tables)

Advances (Tables)	3 Months Ended
	Mar. 31, 2023
Advances
Schedule of federal home loan bank	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, ​ 2023 2022 ​ ​ (Dollars in thousands) Outstanding at period-end ​ $ — ​ $ — Average amount outstanding ​ ​ 20,422 ​ ​ — Maximum amount outstanding at any month-end ​ ​ 26,000 ​ ​ — Weighted average interest rate: ​ ​ ​ ​ During period ​ ​ 4.57 % ​ — End of period ​ ​ — % ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, ​ 2023 2022 ​ ​ (Dollars in thousands) Outstanding at period-end ​ $ — ​ $ — Average amount outstanding ​ ​ 5 ​ ​ — Maximum amount outstanding at any month-end ​ ​ 339 ​ ​ — Weighted average interest rate: ​ ​ ​ ​ During period ​ ​ 4.77 % ​ — End of period ​ ​ — % ​ — ​

Supplemental Disclosure for E_2

Supplemental Disclosure for Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Disclosure for Earnings Per Share
Schedule of supplemental disclosure for earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, ​ 2023 2022 ​ ​ (Dollars in thousands, except per share data) Basic ​ ​ Earnings: ​ ​ Net income ​ $ 340 ​ $ 467 ​ ​ ​ ​ ​ ​ ​ Shares: ​ ​ ​ ​ Weighted average common shares outstanding ​ 2,700,728 ​ 2,811,781 ​ ​ ​ ​ ​ ​ ​ Net income per common share, basic ​ $ 0.13 ​ $ 0.17 ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ Earnings: ​ ​ ​ ​ Net income ​ $ 340 ​ $ 467 ​ ​ ​ ​ ​ ​ ​ Shares: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 2,700,728 ​ 2,811,781 Add: Dilutive effect of stock options ​ 101 ​ 2,519 Add: Dilutive effect of restricted stock ​ — ​ 2,167 ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding, as adjusted ​ 2,700,829 ​ 2,816,467 ​ ​ ​ ​ ​ ​ ​ Net income per common share, diluted ​ $ 0.13 ​ $ 0.17

Stock-based Compensation Plans

Stock-based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2023
Stock-based Compensation Plans
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Number ​ Weighted ​ Remaining ​ Aggregate ​ ​ of ​ Average Exercise ​ Contractual ​ Intrinsic ​ Shares Price Term Value Outstanding at beginning of year 89,637 $ 13.38 ​ ​ ​ ​ ​ Granted — ​ ​ — ​ ​ ​ ​ ​ Exercised — ​ ​ — ​ ​ ​ ​ ​ Forfeited or expired — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at end of period 89,637 $ 13.38 ​ 7.3 $ 1,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and expected to vest 89,637 $ 13.38 ​ 7.3 $ 1,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at end of period 60,438 $ 13.37 ​ 6.9 $ 1,000 ​
Schedule of nonvested restricted shares activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number ​ Average ​ ​ of ​ Grant-Date ​ Shares Fair Value Nonvested at beginning of year 32,839 $ 14.05 Granted — ​ ​ — Vested — ​ ​ — Forfeited — ​ ​ — ​ ​ ​ ​ ​ ​ Nonvested at end of period 32,839 $ 14.05 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Measurements
Schedule of assets measured at fair value on a recurring and nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Level 1 Level 2 Level 3 Total ​ ​ (In thousands) March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets Measured on a Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Agency MBS ​ $ — ​ $ 11,208 ​ $ — ​ $ 11,208 Agency CMO ​ — ​ 18,519 ​ — ​ 18,519 U.S. Treasury securities ​ ​ — ​ ​ 9,527 ​ ​ — ​ ​ 9,527 U.S. Government agency obligations ​ ​ — ​ ​ 1,853 ​ ​ — ​ ​ 1,853 Municipal obligations ​ — ​ 60,452 ​ — ​ 60,452 Total securities available for sale ​ $ — ​ $ 101,559 ​ $ — ​ $ 101,559 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets Measured on a Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Agency MBS ​ $ — ​ $ 11,389 ​ $ — ​ $ 11,389 Agency CMO ​ — ​ 18,994 ​ — ​ 18,994 U.S. Treasury securities ​ — ​ 9,439 ​ — ​ 9,439 U.S. Government agency obligations ​ — ​ 1,813 ​ — ​ 1,813 Municipal obligations ​ — ​ 63,716 ​ — ​ 63,716 Total securities available for sale ​ $ — ​ $ 105,351 ​ $ — ​ $ 105,351 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements Using ​ Value Level 1 Level 2 Level 3 ​ ​ (In thousands) March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ Cash and cash equivalents ​ $ 4,471 ​ $ 4,471 ​ $ — ​ $ — Securities available for sale ​ 101,559 ​ — ​ 101,559 ​ — Securities held to maturity ​ 13 ​ — ​ 13 ​ — Loans, net ​ 147,198 ​ — ​ — ​ 143,846 FHLB stock ​ 1,778 ​ N/A ​ N/A ​ N/A Accrued interest receivable ​ 1,042 ​ — ​ 1,042 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ ​ 27,936 ​ ​ 27,936 ​ ​ — ​ ​ — Interest-bearing deposits ​ ​ 177,701 ​ ​ — ​ ​ — ​ ​ 176,244 Advance from Federal Reserve ​ ​ 25,000 ​ ​ — ​ ​ 24,884 ​ ​ — Accrued interest payable ​ ​ 82 ​ ​ — ​ ​ 82 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 5,684 ​ $ 5,684 ​ $ — ​ $ — Securities available for sale ​ 105,351 ​ — ​ 105,351 ​ — Securities held to maturity ​ 17 ​ — ​ 17 ​ — Loans, net ​ 144,379 ​ — ​ — ​ 138,744 FHLB stock ​ 1,778 ​ N/A ​ N/A ​ N/A Accrued interest receivable ​ 1,323 ​ — ​ 1,323 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ 28,232 ​ 28,232 ​ — ​ — Interest-bearing deposits ​ 177,832 ​ — ​ — ​ 175,969 Advance from FHLB ​ ​ 29,000 ​ ​ — ​ ​ 29,000 ​ ​ — Accrued interest payable ​ ​ 12 ​ ​ — ​ ​ 12 ​ ​ —

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contracts with Customers
Summary of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2023 ​ 2022 ​ ​ (In thousands) Deposit account service charges ​ $ 91 ​ $ 81 Brokered loan fees ​ ​ 15 ​ ​ 43 ATM and debit card fee income ​ ​ 139 ​ ​ 136 Other income ​ ​ 8 ​ ​ 1 Revenue from contracts with customers ​ ​ 253 ​ ​ 261 ​ ​ ​ ​ ​ ​ ​ Net loss on sales of securities available for sale ​ ​ (27) ​ ​ — Increase in cash surrender value of life insurance ​ ​ 14 ​ ​ 14 Other income ​ ​ 4 ​ ​ 10 Other noninterest income ​ ​ (9) ​ ​ 24 ​ ​ ​ ​ ​ ​ ​ Total noninterest income ​ $ 244 ​ $ 285 ​

Investment Securities - Availab

Investment Securities - Available of sale (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Securities available for sale:
Amortized Cost	$ 113,546	$ 119,768
Gross Unrealized Gains	117	36
Gross Unrealized Losses	12,104	14,453
Fair Value	101,559	105,351
Agency MBS
Securities available for sale:
Amortized Cost	12,950	13,257
Gross Unrealized Losses	1,742	1,868
Fair Value	11,208	11,389
Agency CMO
Securities available for sale:
Amortized Cost	20,564	21,233
Gross Unrealized Gains	43	18
Gross Unrealized Losses	2,088	2,257
Fair Value	18,519	18,994
MBS and CMO
Securities available for sale:
Amortized Cost	33,514	34,490
Gross Unrealized Gains	43	18
Gross Unrealized Losses	3,830	4,125
Fair Value	29,727	30,383
Other debt securities
Securities available for sale:
Amortized Cost	80,032	85,278
Gross Unrealized Gains	74	18
Gross Unrealized Losses	8,274	10,328
Fair Value	71,832	74,968
U.S. Treasury securities
Securities available for sale:
Amortized Cost	9,843	9,840
Gross Unrealized Losses	316	401
Fair Value	9,527	9,439
U.S. Government agency obligations
Securities available for sale:
Amortized Cost	1,983	1,996
Gross Unrealized Losses	130	183
Fair Value	1,853	1,813
Municipal obligations
Securities available for sale:
Amortized Cost	68,206	73,442
Gross Unrealized Gains	74	18
Gross Unrealized Losses	7,828	9,744
Fair Value	$ 60,452	$ 63,716

Investment Securities - Held to

Investment Securities - Held to maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Securities held to maturity:
Amortized Cost	$ 13	$ 17
Fair Value	13	17
Agency MBS
Securities held to maturity:
Amortized Cost	13	17
Fair Value	$ 13	$ 17

Investment Securities - Amortiz

Investment Securities - Amortized cost and fair value of debt securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Available for Sale Amortized Cost
Due in one year or less, Amortized Cost	$ 4,586
Due after one year through five years, Amortized Cost	11,208
Due after five years through ten years, Amortized Cost	4,313
Due after ten years, Amortized Cost	59,925
Available for Sale, Amortized Cost	80,032
Amortized Cost	113,546	$ 119,768
Available for Sale Fair Value
Due in one year or less, Fair Value	4,481
Due after one year through five years, Fair Value	10,801
Due after five years through ten years, Fair Value	4,090
Due after ten years, Fair Value	52,460
Available for Sale, Fair value	71,832
Fair Value	101,559	105,351
MBS and CMO
Available for Sale Amortized Cost
Amortized Cost	33,514	34,490
Available for Sale Fair Value
Fair Value	$ 29,727	$ 30,383

Investment Securities - Contrac

Investment Securities - Contractual maturity of held to maturity securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Held to Maturity, Amortized Cost
Amortized Cost	$ 13	$ 17
Held to Maturity, Fair Value
Fair Value	13	$ 17
MBS and CMO
Held to Maturity, Amortized Cost
Amortized Cost	13
Held to Maturity, Fair Value
Fair Value	$ 13

Investment Securities - Investm

Investment Securities - Investment securities available for sale with gross unrealized loss (Details) $ in Thousands	Mar. 31, 2023 USD ($) position	Dec. 31, 2022 USD ($) position
Securities available for sale:
Continuous loss position less than 12 months: Number of Investment Positions | position	14	112
Continuous loss position less than 12 months: Fair Value	$ 6,431	$ 67,135
Continuous loss position less than 12 months: Gross Unrealized Losses	$ 252	$ 7,656
Continuous loss position more than 12 months: Number of Investment Positions | position	117	42
Continuous loss position more than 12 months: Fair Value	$ 84,532	$ 32,632
Continuous loss position more than 12 months: Gross Unrealized Losses	$ 11,852	$ 6,797
Total securities available for sale: Number of Investment Positions | position	131	154
Total securities available for sale: Fair Value	$ 90,963	$ 99,767
Total securities available for sale: Gross Unrealized Losses	$ 12,104	$ 14,453
U.S. Treasury securities
Securities available for sale:
Continuous loss position less than 12 months: Number of Investment Positions | position		6
Continuous loss position less than 12 months: Fair Value		$ 9,439
Continuous loss position less than 12 months: Gross Unrealized Losses		$ 401
Continuous loss position more than 12 months: Number of Investment Positions | position	6
Continuous loss position more than 12 months: Fair Value	$ 9,527
Continuous loss position more than 12 months: Gross Unrealized Losses	$ 316
U.S. Government agency obligations
Securities available for sale:
Continuous loss position less than 12 months: Number of Investment Positions | position		1
Continuous loss position less than 12 months: Fair Value		$ 1,812
Continuous loss position less than 12 months: Gross Unrealized Losses		$ 183
Continuous loss position more than 12 months: Number of Investment Positions | position	1
Continuous loss position more than 12 months: Fair Value	$ 1,852
Continuous loss position more than 12 months: Gross Unrealized Losses	$ 130
Agency MBS
Securities available for sale:
Continuous loss position less than 12 months: Number of Investment Positions | position		8
Continuous loss position less than 12 months: Fair Value		$ 4,701
Continuous loss position less than 12 months: Gross Unrealized Losses		$ 559
Continuous loss position more than 12 months: Number of Investment Positions | position	13	5
Continuous loss position more than 12 months: Fair Value	$ 11,208	$ 6,687
Continuous loss position more than 12 months: Gross Unrealized Losses	$ 1,742	$ 1,309
Agency CMO
Securities available for sale:
Continuous loss position less than 12 months: Number of Investment Positions | position	4	8
Continuous loss position less than 12 months: Fair Value	$ 1,144	$ 4,212
Continuous loss position less than 12 months: Gross Unrealized Losses	$ 16	$ 204
Continuous loss position more than 12 months: Number of Investment Positions | position	15	12
Continuous loss position more than 12 months: Fair Value	$ 15,948	$ 13,357
Continuous loss position more than 12 months: Gross Unrealized Losses	$ 2,072	$ 2,053
Municipal obligations
Securities available for sale:
Continuous loss position less than 12 months: Number of Investment Positions | position	10	89
Continuous loss position less than 12 months: Fair Value	$ 5,287	$ 46,971
Continuous loss position less than 12 months: Gross Unrealized Losses	$ 236	$ 6,309
Continuous loss position more than 12 months: Number of Investment Positions | position	82	25
Continuous loss position more than 12 months: Fair Value	$ 45,997	$ 12,588
Continuous loss position more than 12 months: Gross Unrealized Losses	$ 7,592	$ 3,435

Investment Securities - Additio

Investment Securities - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Debt securities held to maturity with unrealized loss	$ 0
Percentage of deprecation in loss position for available-for-sale debt securities from amortized cost basis	89.60%		94.70%
Realized gross gain loss	$ 27,000	$ 0
Securities available for sale, at fair value	101,559,000		$ 105,351,000
Asset Pledged as Collateral | Federal Reserve Advances
Schedule of Available-for-sale Securities [Line Items]
Par value of pledged securities	28,500,000
Securities available for sale, at fair value			0
Municipal obligations
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, at fair value	60,452,000		63,716,000
MBS and CMO
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, at fair value	29,727,000		30,383,000
Agency MBS
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, at fair value	$ 11,208,000		$ 11,389,000

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses (Details) - USD ($)	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses	$ 2,324,000		$ 1,692,000	$ 1,522,000	$ 1,523,000
Retained earnings on a tax-effected basis	24,611,000		24,916,000
Appraisals or valuations obtained above threshold amount	$ 100,000
ASC 326
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses		$ 2,249,000
ASC 326 | Unfunded loan commitments
Financing Receivable, Allowance for Credit Losses [Line Items]
Unfunded loan commitments		73,000
Impact of adoption | ASC 326
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses		557,000	$ 557,000
Retained earnings on a tax-effected basis		425,000
Impact of adoption | ASC 326 | Unfunded loan commitments
Financing Receivable, Allowance for Credit Losses [Line Items]
Unfunded loan commitments		73,000
Retained earnings on a tax-effected basis		$ 56,000

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Unfunded loan commitment allowances activity (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	$ 2,324		$ 1,692	$ 1,522	$ 1,523
Residential real estate | One-to-four family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	723		705	782	873
Residential real estate | Multi-family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	414		86	94	102
Residential real estate | Construction
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	60		18	20	25
Commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	879		650	475	363
Commercial business
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	194		199	120	127
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans	$ 54		34	$ 31	$ 33
ASC 326
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		$ 2,249
ASC 326 | Unfunded loan commitments
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on unfunded loan commitments		73
ASC 326 | Residential real estate | One-to-four family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		717
ASC 326 | Residential real estate | Multi-family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		389
ASC 326 | Residential real estate | Construction
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		101
ASC 326 | Commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		775
ASC 326 | Commercial business
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		207
ASC 326 | Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		60
As reported
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			1,692
As reported | Residential real estate | One-to-four family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			705
As reported | Residential real estate | Multi-family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			86
As reported | Residential real estate | Construction
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			18
As reported | Commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			650
As reported | Commercial business
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			199
As reported | Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans			$ 34
Pre-adoption | ASC 326
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		557
Pre-adoption | ASC 326 | Unfunded loan commitments
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on unfunded loan commitments		73
Pre-adoption | ASC 326 | Residential real estate | One-to-four family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		12
Pre-adoption | ASC 326 | Residential real estate | Multi-family residential
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		303
Pre-adoption | ASC 326 | Residential real estate | Construction
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		83
Pre-adoption | ASC 326 | Commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		125
Pre-adoption | ASC 326 | Commercial business
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		8
Pre-adoption | ASC 326 | Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Total allowance for credit losses on loans		$ 26

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Foreclosed real estate (Details) - Residential real estate properties	Mar. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($)
Real Estate Owned [Line Items]
Foreclosed real estate	$ 16,000
Number of loans foreclosure | loan	5
Foreclosure in process	$ 168,000	$ 116,000

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Loans, net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Loans and Allowance for Credit Losses
Loans	$ 149,676	$ 146,207
Deferred loan origination fees and costs, net	(154)	(136)
Accrued interest receivable		437
Allowance for credit losses on loans	(2,324)	(1,692)	$ (1,522)	$ (1,523)
Loans, net	147,198	144,379
Construction
Loans and Allowance for Credit Losses
Loans	4,559	7,847
Deferred loan origination fees and costs, net		(32)
Accrued interest receivable		19
Residential real estate | One-to-four family residential
Loans and Allowance for Credit Losses
Loans	66,100	64,747
Deferred loan origination fees and costs, net		13
Accrued interest receivable		178
Allowance for credit losses on loans	(723)	(705)	(782)	(873)
Residential real estate | Multi-family residential
Loans and Allowance for Credit Losses
Loans	8,660	8,271
Deferred loan origination fees and costs, net		(24)
Accrued interest receivable		14
Allowance for credit losses on loans	(414)	(86)	(94)	(102)
Residential real estate | Construction
Loans and Allowance for Credit Losses
Allowance for credit losses on loans	(60)	(18)	(20)	(25)
Commercial real estate
Loans and Allowance for Credit Losses
Loans	54,349	48,590
Deferred loan origination fees and costs, net		(106)
Accrued interest receivable		182
Allowance for credit losses on loans	(879)	(650)	(475)	(363)
Commercial business
Loans and Allowance for Credit Losses
Loans	14,143	14,675
Deferred loan origination fees and costs, net		(24)
Accrued interest receivable		36
Allowance for credit losses on loans	(194)	(199)	(120)	(127)
Consumer
Loans and Allowance for Credit Losses
Loans	1,865	2,077
Deferred loan origination fees and costs, net		37
Accrued interest receivable		8
Allowance for credit losses on loans	$ (54)	$ (34)	$ (31)	$ (33)

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses - Components of Company's recorded investment in loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost:
Principal loan balance	$ 149,676	$ 146,207
Accrued interest receivable	443	437
Net deferred loan fees/ costs	(154)	(136)
Total amortized cost	149,676	146,508
Amortized Cost as Evaluated for Impairment:
Individually evaluated for impairment		894
Collectively evaluated for impairment		145,614
Total amortized cost	149,676	146,508
Construction
Amortized Cost:
Principal loan balance	4,559	7,847
Net deferred loan fees/ costs		(32)
Total amortized cost		7,834
Amortized Cost as Evaluated for Impairment:
Collectively evaluated for impairment		7,834
Total amortized cost		7,834
Residential real estate | One-to-four family residential
Amortized Cost:
Principal loan balance	66,100	64,747
Net deferred loan fees/ costs		13
Total amortized cost	66,100	64,938
Amortized Cost as Evaluated for Impairment:
Individually evaluated for impairment		490
Collectively evaluated for impairment		64,448
Total amortized cost	66,100	64,938
Residential real estate | Multi-family residential
Amortized Cost:
Principal loan balance	8,660	8,271
Net deferred loan fees/ costs		(24)
Total amortized cost	8,660	8,261
Amortized Cost as Evaluated for Impairment:
Collectively evaluated for impairment		8,261
Total amortized cost	8,660	8,261
Residential real estate | Construction
Amortized Cost:
Total amortized cost	4,559	7,834
Amortized Cost as Evaluated for Impairment:
Total amortized cost	4,559	7,834
Commercial real estate
Amortized Cost:
Principal loan balance	54,349	48,590
Net deferred loan fees/ costs		(106)
Total amortized cost	54,349	48,666
Amortized Cost as Evaluated for Impairment:
Individually evaluated for impairment		125
Collectively evaluated for impairment		48,541
Total amortized cost	54,349	48,666
Commercial business
Amortized Cost:
Principal loan balance	14,143	14,675
Net deferred loan fees/ costs		(24)
Total amortized cost	14,143	14,687
Amortized Cost as Evaluated for Impairment:
Individually evaluated for impairment		279
Collectively evaluated for impairment		14,408
Total amortized cost	14,143	14,687
Consumer
Amortized Cost:
Principal loan balance	1,865	2,077
Net deferred loan fees/ costs		37
Total amortized cost	1,865	2,122
Amortized Cost as Evaluated for Impairment:
Collectively evaluated for impairment		2,122
Total amortized cost	$ 1,865	$ 2,122

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses - Analysis of allowance for loan losses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Ending allowance balance attributable to loans:
Total amortized cost	$ 2,324	$ 1,692	$ 1,522	$ 1,523
Ending allowance balance attributable to loans. before adoption:
Individually evaluated for impairment		35
Collectively evaluated for impairment		1,657
Total amortized cost	2,324	1,692	1,522	1,523
Residential real estate | One-to-four family residential
Ending allowance balance attributable to loans:
Total amortized cost	723	705	782	873
Ending allowance balance attributable to loans. before adoption:
Individually evaluated for impairment		21
Collectively evaluated for impairment		684
Total amortized cost	723	705	782	873
Residential real estate | Multi-family residential
Ending allowance balance attributable to loans:
Total amortized cost	414	86	94	102
Ending allowance balance attributable to loans. before adoption:
Collectively evaluated for impairment		86
Total amortized cost	414	86	94	102
Residential real estate | Construction
Ending allowance balance attributable to loans:
Total amortized cost	60	18	20	25
Ending allowance balance attributable to loans. before adoption:
Collectively evaluated for impairment		18
Total amortized cost	60	18	20	25
Commercial real estate
Ending allowance balance attributable to loans:
Total amortized cost	879	650	475	363
Ending allowance balance attributable to loans. before adoption:
Collectively evaluated for impairment		650
Total amortized cost	879	650	475	363
Commercial business
Ending allowance balance attributable to loans:
Total amortized cost	194	199	120	127
Ending allowance balance attributable to loans. before adoption:
Individually evaluated for impairment		14
Collectively evaluated for impairment		185
Total amortized cost	194	199	120	127
Consumer
Ending allowance balance attributable to loans:
Total amortized cost	54	34	31	33
Ending allowance balance attributable to loans. before adoption:
Collectively evaluated for impairment		34
Total amortized cost	$ 54	$ 34	$ 31	$ 33

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses - Analysis of the changes in the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allowance for credit losses on loans:
Beginning balance	$ 1,692	$ 1,523
Provisions	78
Charge-offs	(5)
Recoveries	2
Ending balance	2,324	1,522
Allowance for credit losses on loans, before adoption:
Beginning balance	1,692	1,523
Provision for loan losses	52
Charge-offs		(4)
Recoveries		3
Ending balance	2,324	1,522
Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	557
Allowance for credit losses on loans, before adoption:
Beginning balance	557
Residential real estate | One-to-four family residential
Allowance for credit losses on loans:
Beginning balance	705	873
Provisions	4
Recoveries	2
Ending balance	723	782
Allowance for credit losses on loans, before adoption:
Beginning balance	705	873
Provision for loan losses		(93)
Recoveries		2
Ending balance	723	782
Residential real estate | One-to-four family residential | Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	12
Allowance for credit losses on loans, before adoption:
Beginning balance	12
Residential real estate | Multi-family residential
Allowance for credit losses on loans:
Beginning balance	86	102
Provisions	25
Ending balance	414	94
Allowance for credit losses on loans, before adoption:
Beginning balance	86	102
Provision for loan losses		(8)
Ending balance	414	94
Residential real estate | Multi-family residential | Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	303
Allowance for credit losses on loans, before adoption:
Beginning balance	303
Residential real estate | Construction
Allowance for credit losses on loans:
Beginning balance	18	25
Provisions	(41)
Ending balance	60	20
Allowance for credit losses on loans, before adoption:
Beginning balance	18	25
Provision for loan losses		(5)
Ending balance	60	20
Residential real estate | Construction | Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	83
Allowance for credit losses on loans, before adoption:
Beginning balance	83
Commercial real estate
Allowance for credit losses on loans:
Beginning balance	650	363
Provisions	104
Ending balance	879	475
Allowance for credit losses on loans, before adoption:
Beginning balance	650	363
Provision for loan losses		112
Ending balance	879	475
Commercial real estate | Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	125
Allowance for credit losses on loans, before adoption:
Beginning balance	125
Commercial business
Allowance for credit losses on loans:
Beginning balance	199	127
Provisions	(13)
Ending balance	194	120
Allowance for credit losses on loans, before adoption:
Beginning balance	199	127
Provision for loan losses		(7)
Ending balance	194	120
Commercial business | Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	8
Allowance for credit losses on loans, before adoption:
Beginning balance	8
Consumer
Allowance for credit losses on loans:
Beginning balance	34	33
Provisions	(1)
Charge-offs	(5)
Ending balance	54	31
Allowance for credit losses on loans, before adoption:
Beginning balance	34	33
Provision for loan losses		1
Charge-offs		(4)
Recoveries		1
Ending balance	54	$ 31
Consumer | Impact of adoption | ASC 326
Allowance for credit losses on loans:
Beginning balance	26
Allowance for credit losses on loans, before adoption:
Beginning balance	$ 26

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Impaired loans using the cash receipts method of accounting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2022
Loans with no related allowance recorded, before adoption:
Recorded Investment		$ 822
Unpaid Principal Balance		880
Average Recorded Investment	$ 818
Interest Income Recognized	1
Loans with an allowance recorded, before adoption:
Recorded Investment		612
Unpaid Principal Balance		621
Related Allowance		35
Average Recorded Investment	639
Interest Income Recognized	8
Total Recorded Investment		1,434
Total Unpaid Principal Balance		1,501
Total Related Allowance		35
Total Average Recorded Investment	1,457
Total Interest Income Recognized	9
Residential real estate | One-to-four family residential
Loans with no related allowance recorded, before adoption:
Recorded Investment		762
Unpaid Principal Balance		820
Average Recorded Investment	717
Loans with an allowance recorded, before adoption:
Recorded Investment		267
Unpaid Principal Balance		274
Related Allowance		21
Average Recorded Investment	245
Interest Income Recognized	3
Total Recorded Investment		1,029
Total Unpaid Principal Balance		1,094
Total Related Allowance		21
Total Average Recorded Investment	962
Total Interest Income Recognized	3
Commercial real estate
Loans with no related allowance recorded, before adoption:
Recorded Investment		60
Unpaid Principal Balance		60
Average Recorded Investment	100
Interest Income Recognized	1
Loans with an allowance recorded, before adoption:
Recorded Investment		66
Unpaid Principal Balance		68
Average Recorded Investment	68
Interest Income Recognized	1
Total Recorded Investment		126
Total Unpaid Principal Balance		128
Total Average Recorded Investment	168
Total Interest Income Recognized	2
Commercial business
Loans with an allowance recorded, before adoption:
Recorded Investment		279
Unpaid Principal Balance		279
Related Allowance		14
Average Recorded Investment	326
Interest Income Recognized	4
Total Recorded Investment		279
Total Unpaid Principal Balance		279
Total Related Allowance		$ 14
Total Average Recorded Investment	326
Total Interest Income Recognized	4
Consumer
Loans with no related allowance recorded, before adoption:
Average Recorded Investment	1
Loans with an allowance recorded, before adoption:
Total Average Recorded Investment	$ 1

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses - Nonperforming loans of nonaccrual loans and loans over 90 days past due recorded investment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Loans and Allowance for Credit Losses
Nonaccrual Loans	$ 1,078	$ 732
Loans 90+ Days Past Due Still Accruing	171	193
Construction
Loans and Allowance for Credit Losses
Nonaccrual Loans	146
Residential real estate | One-to-four family residential
Loans and Allowance for Credit Losses
Nonaccrual Loans	612	732
Loans 90+ Days Past Due Still Accruing	171	$ 193
Residential real estate | Construction
Loans and Allowance for Credit Losses
Nonaccrual Loans	146
Commercial real estate
Loans and Allowance for Credit Losses
Nonaccrual Loans	$ 320

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses - Summary of amortized cost and allowance for credit losses (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 838
Allotted Allowance	31
Residential real estate | One-to-four family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	464
Allotted Allowance	21
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	113
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	261
Allotted Allowance	10
Real Estate Sector [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	577
Real Estate Sector [Member] | Residential real estate | One-to-four family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	464
Real Estate Sector [Member] | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	113
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	261
Other [Member] | Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 261

Loans and Allowance for Cred_13

Loans and Allowance for Credit Losses - Aging of recorded investment in loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Loans and Allowance for Credit Losses
Loans	$ 149,676	$ 146,207
Total Accruing Loans	148,598	145,776
Nonaccrual Loans	1,078	732
Total amortized cost	149,676	146,508
Total past due
Loans and Allowance for Credit Losses
Loans	538	1,051
30-59 Days Past Due
Loans and Allowance for Credit Losses
Loans	538	1,051
Current
Loans and Allowance for Credit Losses
Loans	148,060	144,725
Construction
Loans and Allowance for Credit Losses
Loans	4,559	7,847
Nonaccrual Loans	146
Total amortized cost		7,834
Residential real estate | One-to-four family residential
Loans and Allowance for Credit Losses
Loans	66,100	64,747
Total Accruing Loans	65,488	64,206
Nonaccrual Loans	612	732
Total amortized cost	66,100	64,938
Residential real estate | One-to-four family residential | Total past due
Loans and Allowance for Credit Losses
Loans	466	596
Residential real estate | One-to-four family residential | 30-59 Days Past Due
Loans and Allowance for Credit Losses
Loans	466	596
Residential real estate | One-to-four family residential | Current
Loans and Allowance for Credit Losses
Loans	65,022	63,610
Residential real estate | Multi-family residential
Loans and Allowance for Credit Losses
Loans	8,660	8,271
Total Accruing Loans	8,660	8,261
Total amortized cost	8,660	8,261
Residential real estate | Multi-family residential | Current
Loans and Allowance for Credit Losses
Loans	8,660	8,261
Residential real estate | Construction
Loans and Allowance for Credit Losses
Total Accruing Loans	4,413	7,834
Nonaccrual Loans	146
Total amortized cost	4,559	7,834
Residential real estate | Construction | Current
Loans and Allowance for Credit Losses
Loans	4,413	7,834
Commercial real estate
Loans and Allowance for Credit Losses
Loans	54,349	48,590
Total Accruing Loans	54,029	48,666
Nonaccrual Loans	320
Total amortized cost	54,349	48,666
Commercial real estate | Total past due
Loans and Allowance for Credit Losses
Loans	53	444
Commercial real estate | 30-59 Days Past Due
Loans and Allowance for Credit Losses
Loans	53	444
Commercial real estate | Current
Loans and Allowance for Credit Losses
Loans	53,976	48,222
Commercial business
Loans and Allowance for Credit Losses
Loans	14,143	14,675
Total Accruing Loans	14,143	14,687
Total amortized cost	14,143	14,687
Commercial business | Total past due
Loans and Allowance for Credit Losses
Loans		11
Commercial business | 30-59 Days Past Due
Loans and Allowance for Credit Losses
Loans		11
Commercial business | Current
Loans and Allowance for Credit Losses
Loans	14,143	14,676
Consumer
Loans and Allowance for Credit Losses
Loans	1,865	2,077
Total Accruing Loans	1,865	2,122
Total amortized cost	1,865	2,122
Consumer | Total past due
Loans and Allowance for Credit Losses
Loans	19
Consumer | 30-59 Days Past Due
Loans and Allowance for Credit Losses
Loans	19
Consumer | Current
Loans and Allowance for Credit Losses
Loans	$ 1,846	$ 2,122

Loans and Allowance for Cred_14

Loans and Allowance for Credit Losses - Amortized cost of loans, segregated by portfolio segment, risk category and year of origination (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Loans and Allowance for Credit Losses
2023	$ 7,293
2022	37,999
2021	34,767
2020	13,460
2019	6,107
Prior	35,797
Revolving	14,253
Total amortized cost	149,676	$ 146,508
Current period gross charge-offs
Revolving	5
Total	5
Pass
Loans and Allowance for Credit Losses
2023	7,293
2022	37,999
2021	30,918
2020	13,460
2019	6,107
Prior	35,185
Revolving	14,253
Total amortized cost	145,215
Special mention
Loans and Allowance for Credit Losses
2021	3,383
Total amortized cost	3,383
Substandard
Loans and Allowance for Credit Losses
2021	466
Prior	612
Total amortized cost	1,078
Construction
Loans and Allowance for Credit Losses
Total amortized cost		7,834
Residential real estate | One-to-four family residential
Loans and Allowance for Credit Losses
2023	1,611
2022	13,417
2021	10,554
2020	6,491
2019	2,782
Prior	26,912
Revolving	4,333
Total amortized cost	66,100	64,938
Residential real estate | One-to-four family residential | Pass
Loans and Allowance for Credit Losses
2023	1,611
2022	13,417
2021	10,554
2020	6,491
2019	2,782
Prior	26,300
Revolving	4,333
Total amortized cost	65,488
Residential real estate | One-to-four family residential | Substandard
Loans and Allowance for Credit Losses
Prior	612
Total amortized cost	612
Residential real estate | Multi-family residential
Loans and Allowance for Credit Losses
2023	498
2022	2,395
2021	3,107
2020	2,210
Prior	450
Total amortized cost	8,660	8,261
Residential real estate | Multi-family residential | Pass
Loans and Allowance for Credit Losses
2023	498
2022	2,395
2021	3,107
2020	2,210
Prior	450
Total amortized cost	8,660
Residential real estate | Construction
Loans and Allowance for Credit Losses
2023	1,246
2022	481
2021	146
Revolving	2,686
Total amortized cost	4,559	7,834
Residential real estate | Construction | Pass
Loans and Allowance for Credit Losses
2023	1,246
2022	481
Revolving	2,686
Total amortized cost	4,413
Residential real estate | Construction | Substandard
Loans and Allowance for Credit Losses
2021	146
Total amortized cost	146
Commercial real estate
Loans and Allowance for Credit Losses
2023	3,260
2022	19,101
2021	12,499
2020	4,389
2019	3,085
Prior	8,084
Revolving	3,931
Total amortized cost	54,349	48,666
Commercial real estate | Pass
Loans and Allowance for Credit Losses
2023	3,260
2022	19,101
2021	8,796
2020	4,389
2019	3,085
Prior	8,084
Revolving	3,931
Total amortized cost	50,646
Commercial real estate | Special mention
Loans and Allowance for Credit Losses
2021	3,383
Total amortized cost	3,383
Commercial real estate | Substandard
Loans and Allowance for Credit Losses
2021	320
Total amortized cost	320
Commercial business
Loans and Allowance for Credit Losses
2023	490
2022	1,842
2021	7,783
2020	260
2019	192
Prior	335
Revolving	3,241
Total amortized cost	14,143	14,687
Commercial business | Pass
Loans and Allowance for Credit Losses
2023	490
2022	1,842
2021	7,783
2020	260
2019	192
Prior	335
Revolving	3,241
Total amortized cost	14,143
Consumer
Loans and Allowance for Credit Losses
2023	188
2022	763
2021	678
2020	110
2019	48
Prior	16
Revolving	62
Total amortized cost	1,865	$ 2,122
Current period gross charge-offs
Revolving	5
Total	5
Consumer | Pass
Loans and Allowance for Credit Losses
2023	188
2022	763
2021	678
2020	110
2019	48
Prior	16
Revolving	62
Total amortized cost	$ 1,865

Loans and Allowance for Cred_15

Loans and Allowance for Credit Losses - Amortized cost in loans by risk category (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 146,508
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	142,366
Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,410
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	732
Residential real estate | One-to-four family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	64,938
Residential real estate | One-to-four family residential | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	64,206
Residential real estate | One-to-four family residential | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	732
Residential real estate | Multi-family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	8,261
Residential real estate | Multi-family residential | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	8,261
Residential real estate | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	7,834
Residential real estate | Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	7,834
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	48,666
Commercial real estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	45,256
Commercial real estate | Special mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,410
Commercial business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	14,687
Commercial business | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	14,687
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,122
Consumer | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 2,122

Loans and Allowance for Cred_16

Loans and Allowance for Credit Losses - Troubled Debt Restructuring by accrual status (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Loans and Allowance for Credit Losses
Accruing	$ 702
Nonaccrual	85
Total	787
Residential real estate | One-to-four family residential
Loans and Allowance for Credit Losses
Accruing	298
Nonaccrual	85
Total	383
Commercial real estate
Loans and Allowance for Credit Losses
Accruing	125
Total	125
Commercial business
Loans and Allowance for Credit Losses
Accruing	279
Total	$ 279

Loans and Allowance for Cred_17

Loans and Allowance for Credit Losses - Modified TDRs (Details)	3 Months Ended
	Mar. 31, 2022 USD ($) loan	Dec. 31, 2022 USD ($)
Loans and Allowance for Credit Losses
Commitments to lend additional funds to debtors		$ 0
Outstanding principal	$ 0
Loans charged-off	0
Allowance for credit loss	$ 0
Number of contracts in default | loan	0

Advances (Details)

Advances (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 20, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 27, 2019
Financial Instruments Owned and Pledged as Collateral [Line Items]
Advances outstanding from the FHLB			$ 29,000
Borrowed amount from the FHLB				$ 10,000
Amount borrowed from Federal Reserve		$ 25,000
Interest rate on FHLB				1.73%
Average term of short-term fixed-rate bullet advances from the FHLB		6 days
Asset Pledged as Collateral [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Carrying value of mortgage loans pledged as security for advances		$ 61,800
Asset Pledged as Collateral [Member] | Federal Reserve Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Par value of pledged securities		28,500
Federal Reserve Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Advances outstanding		$ 25,000
Amount borrowed from Federal Reserve	$ 25,000
Interest rate on FHLB	4.37%
Maturity period, fixed rate	1 year

Advances - Short-term and Long-

Advances - Short-term and Long-term FHLB Advances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Outstanding at period-end		$ 29,000
Utilized amount of line of credit	$ 5,000
FHLB advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Average amount outstanding	5
Maximum amount outstanding at any month-end	$ 339
During period	4.77%
FHLB advances
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Average amount outstanding	$ 20,422
Maximum amount outstanding at any month-end	$ 26,000
During period	4.57%

Supplemental Disclosure for E_3

Supplemental Disclosure for Earnings Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares of common stock excluded from the calculation of diluted net income per common share	89,403
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares of common stock excluded from the calculation of diluted net income per common share		0
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares of common stock excluded from the calculation of diluted net income per common share		0

Supplemental Disclosure for E_4

Supplemental Disclosure for Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings:
Net income	$ 340	$ 467
Shares:
Weighted average common shares outstanding	2,700,728	2,811,781
Net income per common share, basic (in dollars per share)	$ 0.13	$ 0.17
Earnings:
Net income	$ 340	$ 467
Shares:
Weighted average common shares outstanding	2,700,728	2,811,781
Add: Dilutive effect of stock options	101	2,519
Add: Dilutive effect of restricted stock		2,167
Weighted average common shares outstanding, as adjusted	2,700,829	2,816,467
Net income per common share, diluted (in dollars per share)	$ 0.13	$ 0.17

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Stock Ownership Plan
Plan of conversion from mutual to stock form of ownership, number of shares issued	204,789
Purchase price per share for shares issued in plan of conversion	$ 10
Term of loan under ESOP	20 years
ESOP compensation expense	$ 34,000	$ 39,000
Allocated shares	52,430
Unallocated shares	152,359
Value of unallocated shares of common stock	$ 1,700,000

Stock-based Compensation Plan_2

Stock-based Compensation Plans - Additional information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2019	Jul. 27, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to nonvested stock options	$ 94,000
Unrecognized compensation expense related to nonvested restricted shares	407,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 16,000	$ 13,000
Unrecognized compensation expense to be recognized over a weighted-average period	2 years 2 months 12 days
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 51,000	$ 41,000
Unrecognized compensation expense to be recognized over a weighted-average period	2 years 6 months
2010 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares approved for awards of stock options and restricted stock				127,849
2010 Equity Incentive Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards for stock options and restricted stock	78,010
2010 Equity Incentive Plan | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards for stock options and restricted stock	34,250
2019 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares approved for awards of stock options and restricted stock			255,987
Number of restricted stock available for grant			102,395
Vesting period	5 years
2019 Equity Incentive Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards for stock options and restricted stock	20,900
2019 Equity Incentive Plan | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards for stock options and restricted stock	48,319

Stock-based Compensation Plan_3

Stock-based Compensation Plans - Stock option activity (Details) - Stock options	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Number of shares
Outstanding at beginning of year | shares	89,637
Outstanding at end of period | shares	89,637
Vested and expected to vest | shares	89,637
Exercisable at end of period | shares	60,438
Weighted Average Exercise Price
Outstanding at beginning of year | $ / shares	$ 13.38
Outstanding at end of period | $ / shares	13.38
Vested and expected to vest | $ / shares	13.38
Exercisable at end of period | $ / shares	$ 13.37
Weighted Average Remaining Contractual Term	7 years 3 months 18 days
Weighted Average Remaining Contractual Term, options vested and expected to vest	7 years 3 months 18 days
Weighted Average Remaining Contractual Term, options exercisable	6 years 10 months 24 days
Outstanding shares, Aggregate Intrinsic Value | $	$ 1,000
Vested and expected to vest, Aggregate Intrinsic Value | $	1,000
Exercisable at end of period Aggregate Intrinsic Value | $	$ 1,000

Stock-based Compensation Plan_4

Stock-based Compensation Plans - Nonvested restricted shares activity (Details)	Mar. 31, 2023 $ / shares shares
Number of shares
Nonvested at beginning of year | shares	32,839
Nonvested at end of period | shares	32,839
Weighted Average Grant-Date Fair Value
Nonvested at beginning of year | $ / shares	$ 14.05
Nonvested at end of period | $ / shares	$ 14.05

Fair Value Measurements - Fair

Fair Value Measurements - Fair value on a recurring and nonrecurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	$ 101,559	$ 105,351
Liabilities measured at fair value	0	0
Agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	11,208	11,389
Agency CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	18,519	18,994
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	9,527	9,439
U.S. Government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	1,853	1,813
Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	60,452	63,716
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	101,559	105,351
Measured on a Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	101,559	105,351
Measured on a Recurring Basis | Agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	11,208	11,389
Measured on a Recurring Basis | Agency CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	18,519	18,994
Measured on a Recurring Basis | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	9,527	9,439
Measured on a Recurring Basis | U.S. Government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	1,853	1,813
Measured on a Recurring Basis | Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	60,452	63,716
Measured on a Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	101,559	105,351
Measured on a Recurring Basis | Level 2 | Agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	11,208	11,389
Measured on a Recurring Basis | Level 2 | Agency CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	18,519	18,994
Measured on a Recurring Basis | Level 2 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	9,527	9,439
Measured on a Recurring Basis | Level 2 | U.S. Government agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	1,853	1,813
Measured on a Recurring Basis | Level 2 | Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale, Excluding Accrued Interest	60,452	63,716
Measured on a Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value Measurements
Transfers in or out of Level 3 financial assets	$ 0	$ 0

Fair Value Measurements - Estim

Fair Value Measurements - Estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial assets:
Securities available for sale	$ 101,559	$ 105,351
Securities held to maturity	13	17
Loans, net	147,198	144,379
FHLB stock	1,778	1,778
Financial liabilities:
Noninterest-bearing deposits	27,936	28,232
Interest-bearing deposits	177,701	177,832
Accrued interest payable	82	12
Carrying Value
Financial assets:
Cash and cash equivalents	4,471	5,684
Securities available for sale	101,559	105,351
Securities held to maturity	13	17
Loans, net	147,198	144,379
FHLB stock	1,778	1,778
Accrued interest receivable	1,042	1,323
Financial liabilities:
Noninterest-bearing deposits	27,936	28,232
Interest-bearing deposits	177,701	177,832
Advance from FHLB	25,000	29,000
Accrued interest payable	82	12
Level 1
Financial assets:
Cash and cash equivalents	4,471	5,684
Financial liabilities:
Noninterest-bearing deposits	27,936	28,232
Level 2
Financial assets:
Securities available for sale	101,559	105,351
Securities held to maturity	13	17
Accrued interest receivable	1,042	1,323
Financial liabilities:
Advance from FHLB	24,884	29,000
Accrued interest payable	82	12
Level 3
Financial assets:
Loans, net	143,846	138,744
Financial liabilities:
Interest-bearing deposits	$ 176,244	$ 175,969

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 253	$ 261
Net loss on sales of securities available for sale	(27)
Increase in cash surrender value of life insurance	14	14
Other income	4	10
Other noninterest income	(9)	24
Total noninterest income	244	285
Deposit account service charges
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	91	81
Brokered loan fees.
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	43
ATM and debit card fee income
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	139	136
Other income
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 8	$ 1