CBM Bancorp (CBMB) 10-Q 15 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 15, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	CBM BANCORP, INC.
Entity Central Index Key	0001742089
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	CBMB
Entity Common Stock, Shares Outstanding		4,232,000
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	true

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 909,221	$ 1,071,335
Interest-bearing deposits in other banks	10,705,785	17,775,425
Cash and cash equivalents	11,615,006	18,846,760
Time deposits in other banks	7,441,752	6,944,000
Securities available for sale, at fair value	43,089,426	37,447,423
Federal Home Loan Bank stock, at cost	279,100	245,200
Loans held for sale	466,524	211,107
Loans, net of unearned fees	146,178,327	143,508,813
Allowance for loan losses	(1,278,352)	(1,188,352)
Net loans	144,899,975	142,320,461
Accrued interest receivable	762,658	695,928
Bank-owned life insurance	4,627,873	4,609,357
Premises and equipment, net	1,888,862	1,924,518
Foreclosed real estate	865,000	865,000
Deferred income taxes	795,292	900,994
Prepaid expenses and other assets	461,174	402,344
Total assets	217,192,642	215,413,092
Liabilities
Noninterest-bearing deposits	18,400,153	18,111,318
Interest-bearing deposits	135,992,610	135,638,917
Total deposits	154,392,763	153,750,235
Advances by borrowers for taxes and insurance	847,209	477,781
Accounts payable and other liabilities	935,907	838,301
Total liabilities	156,175,879	155,066,317
Commitments and contingencies
Stockholders' Equity
Preferred stock, $.01 par value; authorized 1,000,000 shares; none issued
Common stock, $.01 par value; authorized 24,000,000 shares; issued and outstanding 4,232,000 shares at March 31, 2019 and December 31, 2018	42,320	42,320
Additional paid in capital	41,011,268	40,987,146
Retained earnings	22,608,157	22,336,134
Unearned ESOP shares	(2,962,400)	(3,047,040)
Accumulated other comprehensive income	317,418	28,215
Total stockholders' equity	61,016,763	60,346,775
Total liabilities and stockholders' equity	$ 217,192,642	$ 215,413,092

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	1,000,000	1,000,000
Preferred stock, issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	24,000,000	24,000,000
Common stock, issued	4,232,000	4,232,000
Common stock, outstanding	4,232,000	4,232,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interest and dividend income
Interest and fees on loans	$ 1,727,283	$ 1,645,619
Interest and dividends on investments	453,221	134,895
Total interest income	2,180,504	1,780,514
Interest expense
Interest on deposits	316,037	214,539
Total interest expense	316,037	214,539
Net interest income	1,864,467	1,565,975
Provision for loan losses	90,000	75,000
Net interest income after provision for loan losses	1,774,467	1,490,975
Non-interest income
Service fees on deposit accounts	28,392	34,060
Income from bank-owned life insurance	18,516	21,653
Gain on sale of loans held for sale	15,246	65,592
Other non-interest income	30,120	29,994
Total non-interest income	92,274	151,299
Non-interest expense
Salaries, director fees and employee benefits	885,844	780,880
Premises and equipment	119,053	105,163
Data processing	139,893	136,211
Professional fees	122,688	76,371
FDIC premiums and regulatory assessments	30,215	29,547
Marketing	23,184	36,384
Other operating expenses	178,405	141,551
Total non-interest expense	1,499,282	1,306,107
Income before income taxes	367,459	336,167
Income tax expense	95,436	80,162
Net income	$ 272,023	$ 256,005
Earnings per common share
Basic	$ 0.07
Diluted	$ 0.07

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 272,023	$ 256,005
Other comprehensive income (loss)
Unrealized gain (loss) on investment securities available for sale	398,996	(64,722)
Income tax (expense) benefit relating to investment securities available for sale	(109,793)	17,811
Other comprehensive income (loss)	289,203	(46,911)
Total comprehensive income	$ 561,226	$ 209,094

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ 21,603,330			$ 21,653,191		$ (49,861)
Net income	256,005			256,005
Other comprehensive (loss) income	(46,911)					(46,911)
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from accumulated other comprehensive loss				9,821		(9,821)
Ending balance at Mar. 31, 2018	21,812,424			21,919,017		(106,593)
Beginning balance at Dec. 31, 2018	60,346,775	$ 42,320	$ 40,987,146	22,336,134	$ (3,047,040)	28,215
Net income	272,023			272,023
Other comprehensive (loss) income	289,203					289,203
ESOP shares committed to be released	108,762		24,122		84,640
Ending balance at Mar. 31, 2019	$ 61,016,763	$ 42,320	$ 41,011,268	$ 22,608,157	$ (2,962,400)	$ 317,418

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 272,023	$ 256,005
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion of securities	6,770	(1,329)
Gain on sale of loans held for sale	(15,246)	(65,592)
Originations of loans held for sale	(1,237,156)	(2,431,564)
Proceeds from sales of loans held for sale	996,985	3,055,280
Amortization of deferred loan origination costs, net of fees	(23,122)	(17,331)
Provision for loan losses	90,000	75,000
(Increase) decrease in accrued interest receivable	(66,730)	47,093
Increase in cash surrender value of life insurance	(18,516)	(18,158)
Depreciation and amortization	42,211	39,405
ESOP compensation expense	108,762
Deferred income tax (benefit)	(4,091)	80,162
Increase in prepaid expenses and other assets	(58,830)	(82,300)
Increase (decrease) in accounts payable and other liabilities	97,606	(57,824)
Net cash provided by operating activities	190,666	878,847
Cash flows from investing activities:
Net (purchases) maturities of time deposits in other banks	(497,752)	1,240,000
Purchases of available for sale securities	(8,037,204)
Proceeds from maturities, payments and calls of available for sale securities	2,787,427
Proceeds from maturities, payments and calls of held to maturity securities		137,879
Purchases of Federal Home Loan Bank stock	(33,900)	(3,100)
Net increase in loans	(2,646,392)	(987,929)
Proceeds from redemption of bank owned life insurance		882,278
Purchases of premises and equipment	(6,555)	(11,814)
Net cash (used in) provided by investing activities	(8,434,376)	1,257,314
Cash flows from financing activities:
Net increase in deposits	642,528	1,583,229
Net increase in advances by borrowers	369,428	401,081
Net cash provided by financing activities	1,011,956	1,984,310
Net (decrease) increase in cash and cash equivalents	(7,231,754)	4,120,471
Cash and cash equivalents, beginning balance	18,846,760	12,030,272
Cash and cash equivalents, ending balance	11,615,006	16,150,743
Supplemental disclosure of cash flows information:
Cash paid for interest	$ 315,927	$ 214,440

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Significant Accounting Policies	Note 1. Significant Accounting Policies Basis of Presentation Pursuant to the terms and conditions of a plan of conversion and reorganization, adopted by its Board of Directors and approved by its members, Banks of the Chesapeake, M.H.C. converted from the mutual holding company corporate structure to the public stock holding company structure as follows: CBM Bancorp, Inc. (“CBM Bancorp” or “Company”) was incorporated on May 22, 2018 to serve as the successor holding company for Chesapeake Bank of Maryland (“Bank”),which was at that time the wholly owned subsidiary of Banks of the Chesapeake, M.H.C. On September 27, 2018, in accordance with the plan of conversion and reorganization, CBM Bancorp became the parent holding company for the Bank and Banks of the Chesapeake, M.H.C. merged with and into CBM Bancorp, with the Company as the surviving corporation. Upon consummation of the merger, Banks of the Chesapeake, M.H.C. ceased to exist. The conversion and reorganization was accomplished through the sale and issuance of 4,232,000 shares of common stock at a price of $10.00 per share, through which the Company received proceeds of approximately $40.9 million, net of offering expenses of approximately $1.4 million. Approximately 50% of the net proceeds of the offering, or $20.5 million was contributed by the Company to the Bank in return for 100% of the issued and outstanding shares of common stock of the Bank. In connection with the conversion and reorganization, the Bank’s Board of Directors adopted an employee stock ownership plan (the “ESOP”) which subscribed for 8% of the sum of the number of shares, or 338,560 shares of common stock sold in the offering. The plan of conversion and reorganization provided for the establishment of a liquidation account by CBM Bancorp for the benefit of eligible account holders in an amount equal to the value of the net assets of Banks of the Chesapeake, M.H.C. as of the date of the latest statement of financial condition of Banks of the Chesapeake, M.H.C. prior to the consummation of the conversion and reorganization. The plan of conversion and reorganization also provided for the establishment of a parallel liquidation account in the Bank to support the CBM Bancorp liquidation account in the event CBM Bancorp does not have sufficient assets to fund its obligations under the CBM Bancorp liquidation account. In the unlikely event that the Bank were to liquidate after the conversion and reorganization, all claims of creditors, including those of depositors, would be paid first. However, except with respect to the liquidation account to be established in CBM Bancorp, depositors’ claims would be solely for the principal amount of their deposit accounts plus accrued interest. Depositors generally would not have an interest in the value of the assets of the Bank or CBM Bancorp above that amount. Pursuant to the plan of conversion and reorganization, after two years from the date of conversion and reorganization, and upon the written request of the Federal Reserve Board, CBM Bancorp will transfer, or upon the prior written approval of the Federal Reserve Board, CBM Bancorp may transfer, the liquidation account and the depositors’ interests in such account to the Bank, and the liquidation account shall thereupon be subsumed into the liquidation account of the Bank. The Company may not pay a dividend on, or repurchase any of, it capital stock, if the effect thereof would cause retained earnings to be reduced below the liquidation account amount or regulatory capital requirements. In addition, the Company is subject to certain other regulations restricting the payment of dividends on, and the repurchase of, its capital stock. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Operating results for the three months ended March 31, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019, or any other period. For further information, refer to the Bank’s annual audited consolidated financial statements and related notes for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K dated March 27, 2019. Nature of Operations CBM Bancorp, Inc.’s primary business is the ownership and operation of the Bank, a community-oriented federal stock savings bank regulated by the Office of the Comptroller of the Currency. The Bank’s primary business activity is the acceptance of deposits from the general public and using the proceeds for loan originations and investments. The Bank is subject to competition from other financial institutions. The Bank is subject to the regulations of certain federal agencies and undergoes periodic examinations by the regulatory authorities. The accounting and reporting policies of CBM Bancorp, Inc. and Chesapeake Bank of Maryland conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to general practices in the banking industry. The more significant policies follow: Principles of Consolidation The consolidated financial statements include the accounts of CBM Bancorp, Inc. and the Bank, its wholly owned subsidiary. Material intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for losses on loans, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and the valuation of deferred tax assets. In connection with the determination of the allowances for loan losses and foreclosed real estate, management obtains independent appraisals for significant properties. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash and balances due from banks, interest-bearing deposits in other banks and federal funds sold. Generally federal funds are sold as overnight investments. Time Deposits in Other Banks The Bank uses financial instruments to supplement the investment securities portfolio. Interest income is recognized as earned. Purchase premiums and discounts are recognized as part of interest income using the interest method over the terms of the investments. Realized gains and losses on the sale of time deposits in other banks are included in earnings based on the trade date and are determined using the specific identification method. Time deposits in other banks are not marked to market. Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designation as of each balance sheet date. Securities that the Bank has the positive intent and ability to hold to maturity are classified as held to maturity and are reported at amortized cost (including amortization of premium or accretion of discount). Securities classified as available for sale are carried at fair value and are those securities that the Bank intends to hold for an indefinite period of time but not necessarily to maturity. Unrealized gains and losses are reported as increases or decreases in other comprehensive income. Realized gains and losses, determined on the basis of the cost of the specific securities sold, are included in earnings on a trade date basis. Premiums and discounts are recognized in interest income using a method which approximates the interest method over the terms of the securities. Declines in the fair value of available for sale securities below their cost that are deemed to be other than temporary, if any, are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value Federal Home Loan Bank Stock Federal Home Loan Bank of Atlanta (“FHLB”) stock is an equity interest in the FHLB, which does not have a readily determinable fair value for purposes of Generally Accepted Accounting Standards related to Accounting for Certain Investments in Debt and Equity Securities, because its ownership is restricted and it lacks a market. FHLB stock represents the required investment in the common stock of the Federal Home Loan Bank of Atlanta according to a predetermined formula. FHLB stock can be sold back only at par value of $100 per share and only to the FHLB or another member institution. As of March 31, 2019 and December 31, 2018, the Bank owned shares totaling $279,100 and $245,200, respectively. Loans Held for Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value. Fair value is derived from secondary market quotations for similar instruments. Gains and losses on loan sales are recorded in non-interest income, and loan origination fees, net of certain direct origination costs are deferred at origination of the loan and are recognized in non-interest income upon sale of the loan. The Bank’s current practice is to sell residential mortgage loans on a servicing released basis, and, therefore, it has no intangible asset recorded for the value of such servicing. Interest on loans held for sale is credited to income based on the principal amounts outstanding. The Bank enters into commitments to originate residential mortgage loans whereby the interest rate on the loan is determined prior to funding (i.e., rate lock commitment). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between the issuance of a loan commitment and closing and sale of the loan generally ranges from 30 to 90 days. The Bank protects itself from changes in interest rates through the use of best efforts forward delivery commitments, whereby the investor commits to purchase a loan at a price representing a premium on the day the borrower commits to an interest rate with the intent that they buyer/investor has assumed the interest rate risk on the loan. As a result, the Bank is not generally exposed to losses on loans sold utilizing best efforts, nor will it realize gains related to rate lock commitments due to changes in interest rates. Loans held for sale that are not ultimately sold, but instead are placed into the Bank’s portfolio, are reclassified as loans held for investment and recorded at fair value. Loans Loans are generally carried at the amount of unpaid principal, less the allowance for loan losses and adjusted for deferred loan origination fees and costs, which are recognized over the term of the loan as an adjustment to yield using a method that approximates the interest method. Interest on loans is accrued based on the principal amounts outstanding. It is the Bank’s policy to discontinue the accrual of interest when the principal or interest is delinquent for 90 days or more, or if collection of principal and interest in full is in doubt. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. The carrying value of impaired loans is based on the present value of the loan’s expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral. Impaired loans also include certain loans that have been modified in a troubled debt restructuring (“TDR”) to make concessions to help a borrower remain current on the loan and/or to avoid foreclosure. These concessions typically result from the Bank’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Generally nonaccrual loans that are modified and are considered TDRs are classified as nonperforming at the time of the restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to earnings. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Bank maintains the allowance at a level believed, to the best of management’s knowledge, to cover all known and inherent losses in the portfolio that are both probable and reasonable to estimate at each reporting date. The evaluation process by portfolio segment includes, among other things, an analysis of delinquency trends, non-performing loan trends, the level of charge-offs and recoveries, prior loss experience, total loans outstanding, the volume of loan originations, the type, size and geographic concentration of the loans, the value of collateral securing the loan, the borrower’s ability to repay and repayment performance, the number of loans requiring heightened management oversight, local economic conditions and industry experience. The establishment of the allowance for loan losses is significantly affected by management’s judgment and uncertainties, and there is likelihood that different amounts would be reported under different conditions or assumptions. The Office of the Comptroller of the Currency as an integral part of its examination process periodically reviews the allowance for loan losses and may require the Bank to make additional provisions for estimated loan losses based upon judgments different from those of management. The Bank’s policies, consistent with regulatory guidelines, provide for the classification of loans and other assets that are considered to be of lesser quality as substandard, doubtful, or loss assets. An asset is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard assets include those assets characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Assets (or portions of assets) classified as loss, are those considered uncollectible and of such little value that their recognition as assets is not justified. Assets that do not expose us to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve close attention, are required to be designated as special mention. While the Bank utilizes available information to recognize losses on loans, future additions to the allowances for loan losses may be necessary based on changes in economic conditions, particularly in its’ market area primarily in the state of Maryland. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Actual loan losses may be significantly more than the allowance for loan and lease losses the Bank has established, which could have a material negative effect on our consolidated financial statements. Bank-Owned Life Insurance (“BOLI”) The Bank maintains life insurance policies on certain present and former directors. These policies are split-dollar or director insurance policies. Under the split-dollar insurance policies, the Bank pays the premiums and upon the death of the insured, the Bank will receive an amount equal to the premiums paid on the policy from the policy date to the date of death. Any remaining proceeds will be paid to the beneficiary. If the policy is surrendered before the date of death, the Bank will receive the lesser of the cash surrender value or the sum of the premiums paid on the policy from the policy date to the date of surrender. Under the director insurance policies, the Bank receives the cash surrender value if the policy is surrendered, or receives all benefits payable upon the death of the insured. As of March 31, 2019, and December 31, 2018, $126,201 and $129,775, respectively, was included in other liabilities related to the split-dollar insurance policies. Premises and Equipment Land is carried at cost. Property and equipment is carried at cost less accumulated depreciation. Depreciation is computed on the straight-line method over estimated useful lives of assets. Amortization of leasehold improvements is recognized on a straight-line basis over the term of the lease or the life of the improvement, whichever is shorter. The cost of maintenance and repairs is charged to expense as incurred whereas improvements are capitalized. The range of estimated useful lives for premises and equipment are as follows: Buildings and land improvements 5 - 50 years Leasehold improvements 10 - 15 years Furniture, fixtures and equipment 3 - 10 years Automobile 5 years Foreclosed Real Estate Real estate acquired through foreclosure or other means is recorded at the fair value of the related real estate collateral at the transfer date less estimated selling costs. Losses incurred at the time of the acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated fair value of the property are included in noninterest expense. Costs to maintain foreclosed real estate are expensed as incurred. Employee Stock Ownership Plan (“ESOP”) Compensation expense is recognized based on the current market price of shares committed to be released to employees. All shares released and committed to be released are deemed outstanding for purposes of earnings per share calculations. Dividends declared and paid on allocated shares held by the ESOP are charged to retained earnings. The value of unearned shares to be allocated to ESOP participants for future services not yet performed is reflected as a reduction of stockholders’ equity. Dividends declared on unallocated shares held by the ESOP are recorded as a reduction of the ESOP’s loan payment to the Company. Income Taxes The provision for income taxes includes taxes payable for the current year and deferred income taxes. Deferred income taxes are provided for the temporary differences between financial and taxable income. Deferred income taxes and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management it is more likely than not that some portion of the deferred tax asset will not be realized. Deferred tax assets and liabilities are adjusted through earnings for the effects of changes in tax laws and rates on the date of enactment. Earnings per Common Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Weighted average shares include allocated ESOP shares but exclude unallocated ESOP shares. Diluted earnings per share includes additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Off-Balance Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. These commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized on the balance sheet. Such financial instruments are recorded when they are funded. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments is represented by the contractual amount of these instruments. The Bank uses the same credit policies for these instruments as it does for the on-balance sheet instruments. Concentrations of Credit Risk The Bank had approximately $1,288,000 and approximately $128,000 in deposits in other financial institutions in excess of amounts insured by the FDIC, as of March 31, 2019 and December 31, 2018, respectively. The Bank’s management considers this a normal business risk. The Bank also maintains accounts with brokerage firms containing securities. These balances are insured up to $500,000 by the Securities Investor Protection Corporation. Recent Accounting Pronouncements ASU 2016-02, Leases (Topic 842) . This ASU provides certain targeted improvements to align lessor accounting with the lessee accounting model. This update will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, including interim reporting periods within that reporting period, for public business entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain an emerging growth company (“EGC”), we will adopt the amendments in this update beginning after December 15, 2019, and interim periods with fiscal years beginning after December 15, 2019. A modified retrospective approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The adoption of this ASU is not expected to have a material effect on the Company’s consolidated financial position, results of operations or cash flows. ASU 2016-13, Financial Instruments – Credit Losses . The ASU sets forth a “current expected credit loss” (CECL) model which requires the Bank to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, for public business entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain an EGC, we will adopt the amendments in this update beginning after December 15, 2020, including interim periods within those fiscal years. Entities will apply the standard’s provisions as a cumulative-effect (i.e., modified retrospective approach). The Company has begun to gather loan information and consider acceptable methodologies to comply with this ASU. The Company’s initial evaluation indicates that the provisions of this ASU are expected to impact its consolidated financial statements, in particular the level of reserve for loan losses. The Company is continuing to evaluate and assess the impact of the adoption of this ASU on its consolidated financial statements. ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20)—Premium Amortization on Purchased Callable Debt Securities.

Securities

Securities	3 Months Ended
	Mar. 31, 2019
Securities	Note 2. Securities The amortized cost and estimated fair value of securities classified as available for sale at March 31, 2019 and December 31, 2018, are as follows: March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government and Federal Agency obligations $ 21,252,762 $ 107,809 $ 47,966 $ 21,312,605 Residential mortgage-backed securities 19,893,086 372,446 201 20,265,331 Municipal securities 1,505,655 6,419 584 1,511,490 $ 42,651,503 $ 486,674 $ 48,751 $ 43,089,426 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government and Federal Agency obligations $ 18,264,805 $ 45,850 $ 90,583 $ 18,220,072 Residential mortgage-backed securities 17,637,729 111,837 4,580 17,744,986 Municipal securities 1,505,962 — 23,597 1,482,365 $ 37,408,496 $ 157,687 $ 118,760 $ 37,447,423 The amortized cost and estimated fair value of securities as of March 31, 2019 and December 31, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2019 Securities Available for Sale Amortized Cost Fair Value Due in one year or less $ 3,815,589 $ 3,819,158 Due after one year through five years 17,457,680 17,500,241 Due five years to ten years 1,485,148 1,504,696 Due after ten years — — Mortgage-backed, in monthly installments 19,893,086 20,265,331 $ 42,651,503 $ 43,089,426 December 31, 2018 Securities Available for Sale Amortized Cost Fair Value Due in one year or less $ 1,000,000 $ 989,119 Due after one year through five years 14,453,375 14,391,553 Due five years to ten years 4,317,392 4,321,765 Due after ten years — — Mortgage-backed, in monthly installments 17,637,729 17,744,986 $ 37,408,496 $ 37,447,423 Securities with gross unrealized losses at March 31, 2019 and December 31, 2018 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: March 31, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities Available for Sale U.S. Government and Federal Agency obligations $ — $ — $ 4,451,167 $ 47,966 $ 4,451,167 $ 47,966 Residential mortgage-backed securities 215,394 201 — — 215,394 201 Municipal obligations — — 1,002,160 584 1,002,160 584 $ 215,394 $ 201 $ 5,453,327 $ 48,550 $ 5,668,721 $ 48,751 December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities Available for Sale U.S. Government and Federal Agency obligations $ 963,945 $ 63 $ 4,408,553 $ 90,520 $ 5,372,498 $ 90,583 Residential mortgage-backed securities 2,838,108 4,580 — — 2,838,108 4,580 Municipal obligations — — 1,482,365 23,597 1,482,365 23,597 $ 3,802,053 $ 4,643 $ 5,890,918 $ 114,117 $ 9,692,971 $ 118,760 The unrealized losses that existed were a result of market changes in interest rates since the original purchase. Management systematically evaluates investment securities for other-than-temporary declines in fair value on a quarterly basis. This analysis requires management to consider various factors, which include (1) duration and magnitude of the decline in value, (2) the financial condition of the issuer or issuers and (3) structure of the security. The Bank transferred during 2018 its entire held to maturity portfolio of residential mortgage-backed securities to available for sale. The securities were transferred at a fair market value of $2,923,932 with a corresponding adjustment to accumulated other comprehensive income in the amount of $56,276 to account for the unrealized gain in the investment securities at the date of transfer. The Bank is prohibited from classifying any investments as held to maturity for the next two years. At March 31, 2019, the Bank held eight investments with gross unrealized losses totaling $48,751. At December 31, 2018, the Bank held twelve investments with gross unrealized losses totaling $118,760. An impairment loss is recognized in earnings if any of the following are true: (1) the Bank intends to sell the debt security; (2) it is more likely than not that the Bank will be required to sell the security before recovery of its amortized cost basis; or (3) the Bank does not expect to recover the entire amortized cost basis of the security. In situations where the Bank intends to sell or when it is more likely than not that the Bank will be required to sell the security, the entire impairment loss must be recognized in earnings. In all other situations, only the portion of the impairment loss representing the credit loss must be recognized in earnings, with the remaining portion being recognized in equity as a component of other comprehensive income, net of deferred tax. There were no securities pledged as of March 31, 2019 and December 31, 2018.

Loans

Loans	3 Months Ended
	Mar. 31, 2019
Loans	Note 3. Loans The Bank makes loans to customers primarily in the Baltimore Metropolitan Area and its surrounding counties. The principal loan portfolio segment balances at March 31, 2019 and December 31, 2018 were as follows: March 31, December 31, 2019 2018 Real estate loans One-to four-family $ 70,401,955 $ 70,197,875 Home equity loans and lines of credit 7,291,555 7,547,195 Construction and land development 9,831,129 8,232,067 Nonresidential 52,909,540 51,904,782 Total real estate loans 140,434,179 137,881,919 Other loans Commercial 5,390,814 5,250,815 Consumer 496,036 529,283 Total other loans 5,886,850 5,780,098 Total loans 146,321,029 143,662,017 Net deferred loan origination fees and costs (142,702 ) (153,204 ) Allowance for loan losses (1,278,352 ) (1,188,352 ) Total loans, net $ 144,899,975 $ 142,320,461 Overdraft deposits are reclassified as consumer loans and are included in the total loans on the balance sheet. Overdrafts were $4,644 and $7,824 at March 31, 2019 and December 31, 2018, respectively. Portfolio segments The Bank currently manages its credit products and respective exposure to credit losses by the following specific portfolio segments (classes) which are levels at which the Bank develops and documents its systematic methodology to determine the allowance for loan losses attributable to each respective portfolio segment. The segments are: • One-to four-family real estate loans – This residential real estate category contains permanent mortgage loans and construction permanent mortgage loans to consumers secured by residential real estate. Residential real estate loans are evaluated for the adequacy of repayment sources at the time of approval, based upon measures including credit scores, debt-to-income ratios, and collateral values. Loans may either be conforming or non-conforming. • Home equity loans and lines of credit – This residential real estate category includes mortgage loans and lines of credit secured by one-to four-family residential real estate. These loans are typically secured with second mortgages on the homes. • Construction and land development – Commercial acquisition, development and construction loans are intended to finance the construction of commercial and residential properties and include loans for the acquisition and development of land. Construction loans represent a higher degree of risk than permanent real estate loans and may be affected by a variety of factors such as the borrower’s ability to control costs and adhere to time schedules and the risk that constructed units may not be absorbed by the market within the anticipated time frame or at the anticipated price. The loan commitment on these loans often includes an interest reserve that allows the lender to periodically advance loan funds to pay interest charges on the outstanding balance of the loan. • Nonresidential real estate loans – Nonresidential real estate loans consist of commercial permanent mortgage loans and commercial construction permanent mortgage loans secured by owner occupied and non-owner occupied properties. Owner occupied commercial property loans involve a variety of property types to conduct the borrower’s operations. The primary source of repayment for this type of loan is the cash flow from the business and is based upon the borrower’s financial health and ability of the borrower and the business to repay. Non-owner occupied commercial property loans involve investment properties for warehouse, retail, and office space with a history of occupancy and cash flow. This real estate category contains commercial mortgage loans to the developers and owners of commercial real estate where the borrower intends to operate or sell the property at a profit and use the income stream or proceeds from the sale to repay the loan. • Commercial loans Commercial loans are made to provide funds for equipment and general corporate needs. Repayment of the loan primarily uses the funds obtained from the operation of the borrower’s business. Commercial loans also include lines of credit that are utilized to finance a borrower’s short-term credit needs and/or finance a percentage of eligible receivables and inventory. • Consumer loans – This category of loans includes primarily installment loans, personal lines of credit. Consumer loans include installment loans used by customers to purchase automobiles, boats and recreational vehicles.

Credit Quality of Loans and the

Credit Quality of Loans and the Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2019
Credit Quality of Loans and the Allowance for Loan Losses	Note 4. Credit Quality of Loans and the Allowance for Loan Losses The allowance for loan losses is maintained at a level to provide for losses that are probable and can be reasonably estimated. Management’s periodic evaluation of the adequacy of the allowance is based on the Bank’s past loan loss experience, known and inherent losses in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change, including the amounts and timing of future cash flows expected to be received on impaired loans. The allowance consists of specific, general, and unallocated components. The specific component relates to loans that are classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. Determinations as to the classification of assets and the amount of loss allowances are subject to review by our principal federal regulator, the Office of the Comptroller of the Currency, which can require that we establish additional loss allowances. The Bank regularly reviews its asset portfolio to determine whether any assets require classification in accordance with applicable regulations. A loan is considered past due or delinquent when a contractual payment is not paid on the day it is due. A loan in considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for all loans secured by real estate by the fair value of the collateral if the loan is collateral dependent. If the loan repayment is not deemed collateral dependent, impairment is measured on the net present value of the expected discounted future cash flows. Loans are automatically placed on non-accrual status when payment of principal or interest is more than 90 days delinquent. Loans are also placed on non-accrual status if collection of principal or interest in full is in doubt or if the loan has been restructured. When loans are placed on non-accrual status, unpaid accrued interest is fully reversed, and further income is recognized only to the extent received. The loan may be returned to accrual status if unpaid principal and interest are repaid so that the loan is less than 90 days delinquent. The Bank’s charge-off policy states after all collection efforts have been exhausted, the loan is deemed to be a loss and the amount has been determined, the loss amount will be charged to the allowance for loan losses. The following tables summarize the activity in the allowance for losses for the three months ended March 31, 2019 2018 and for the year ended December 31, 2018 and the distribution of the allowance for loan losses and loans receivable by loan portfolio class and impairment method as of March 31, 2019, March 31, 2018 and December 31, 2018. As of March 31, 2019 One–to Four-Family Home Equity Loans and Lines of Credit Construction and Land Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses: Beginning Balance – January 1, 2019 $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Charge-offs — — — — — — — — Recoveries — — — — — — — — Provision 61,263 (7,115 ) 33,825 5,068 770 (369 ) (3,442 ) 90,000 Ending Balance – March 31, 2019 $ 306,044 $ 61,722 $ 218,995 $ 631,099 $ 29,649 $ 6,300 $ 24,543 $ 1,278,352 Ending balance: individually evaluated for impairment $ 61,125 $ 1,541 $ 6,074 $ — $ — $ — $ — $ 68,740 Ending balance: collectively evaluated for impairment $ 244,919 $ 60,181 $ 212,921 $ 631,099 $ 29,649 $ 6,300 $ 24,543 $ 1,209,612 Loans: Ending balance $ 70,401,955 $ 7,291,555 $ 9,831,129 $ 52,909,540 $ 5,390,814 $ 496,036 $ 146,321,029 Ending balance: individually evaluated for impairment $ 661,784 $ 127,200 $ 86,728 $ 484,223 $ — $ — $ 1,359,935 Ending balance: collectively evaluated for impairment $ 69,740,171 $ 7,164,355 $ 9,744,401 $ 52,425,317 $ 5,390,814 $ 496,036 $ 144,961,094 As of March 31, 2018 One –to Four-Family Home Equity Construction and Land Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses: Beginning Balance – January 1, 2018 $ 238,148 $ 83,129 $ 173,167 $ 446,576 $ 44,199 $ 15,933 $ 37,253 $ 1,038,405 Charge-offs (30,000 ) — — — — — — (30,000 ) Recoveries — — 8,299 — — — — 8,299 Provision 51,071 (8,518 ) 4,940 34,805 (17,675 ) 250 10,127 75,000 Ending Balance – March 31, 2018 $ 259,219 $ 74,611 $ 186,406 $ 481,381 $ 26,524 $ 16,183 $ 47,380 $ 1,091,704 Ending balance: individually evaluated for impairment $ 59,152 $ 20,124 $ — $ — $ — $ 6,052 $ — $ 85,328 Ending balance: collectively evaluated for impairment $ 200,067 $ 54,487 $ 186,406 $ 481,381 $ 26,524 $ 10,131 $ 47,380 $ 1,006,376 Loans: Ending balance $ 69,628,606 $ 9,181,975 $ 9,477,151 $ 47,545,898 $ 4,822,632 $ 536,178 $ 141,192,440 Ending balance: individually evaluated for impairment $ 670,266 $ 66,662 $ 123,338 $ — $ — $ 6,052 $ 866,318 Ending balance: collectively evaluated for impairment $ 68,958,340 $ 9,115,313 $ 9,353,813 $ 47,545,898 $ 4,822,632 $ 530,126 $ 140,326,122 As of December 31, 2018 One –to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Beginning Balance $ 238,148 $ 83,129 $ 173,167 $ 446,576 $ 44,199 $ 15,933 $ 37,253 $ 1,038,405 Charge-offs (88,000 ) (12,013 ) — (335,000 ) — (5,901 ) — (440,914 ) Recoveries 7,562 — 8,299 — — — — 15,861 Provision 87,071 (2,279 ) 3,704 514,455 (15,320 ) (3,363 ) (9,268 ) 575,000 Ending Balance $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Ending balance: individually evaluated for impairment $ — $ 2,089 $ 6,074 $ — $ — $ — $ — $ 8,163 Ending balance: collectively evaluated for impairment $ 244,781 $ 66,748 $ 179,096 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,180,189 Loans: Ending balance $ 70,197,875 $ 7,547,195 $ 8,232,067 $ 51,904,782 $ 5,250,815 $ 529,283 $ 143,662,017 Ending balance: individually evaluated for impairment $ 585,047 $ 130,795 $ 86,728 $ 484,223 $ — $ — $ 1,286,793 Ending balance: collectively evaluated for impairment $ 69,612,828 $ 7,416,400 $ 8,145,339 $ 51,420,559 $ 5,250,815 $ 529,283 $ 142,375,224 As part of the ongoing monitoring of the credit quality of the Bank’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grade of classified loans, net chargeoffs, nonperforming loans, credit scores, and the general economic conditions in the Bank’s market area. The Bank utilizes an internal rating system to monitor the credit quality of the overall loan portfolio. A description of the general characteristics is as follows: • Pass – A pass loan is considered of sufficient quality to preclude a special mention or an adverse rating. Pass assets are generally well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral. The pass classification also includes watch credits which have all of the characteristics of a pass loan, but warrant more than the normal level of supervision. • Special mention – A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Bank’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. • Substandard – A substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well defined weakness, or weaknesses, that jeopardize the collection or liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. This will be the measurement for determining if a loan is impaired. • Doubtful – A doubtful loan has all of the weaknesses inherent in a substandard credit with the added factor that the weaknesses make the collection or liquidation in full, on the basis of current information, conditions and values, highly questionable and improbable. Loans in this category must be placed on non-accrual status and all payments applied to principal recapture. Doubtful classification should be used only when a distinct possibility of loss exists. When identified, adequate loss should be recorded for the specific assets. It is not necessary to classify an entire credit doubtful when collection of a specific portion appears highly probable. • Loss – A loan classified as loss is considered uncollectable and of such little value that continuance as a loan in unjustified. A loss classification does not mean that the credit has absolutely no value; partial recoveries may be received in the future. Amounts classified as loss must be charged-off in the period in which they are deemed uncollectible. When assets are classified as impaired, the Bank allocates a portion of the related general loss allowances to such assets as the Bank deems prudent. Determinations as to the classification of assets and the amount of loss allowances are subject to review by our principal federal regulator, the Office of the Comptroller of the Currency, which can require that we establish additional loss allowances. The Bank regularly reviews its asset portfolio to determine whether any assets require classification in accordance with applicable regulations. The following table is a summary of the loan portfolio quality indicators by loan class recorded investment as of March 31, 2019 and December 31, 2018: March 31, 2019 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Grade: Pass $ 69,740,171 $ 7,208,670 $ 8,953,892 $ 50,802,673 Special Mention 82,817 36,805 790,509 1,622,644 Substandard 578,967 46,080 86,728 484,223 Doubtful — — — — $ 70,401,955 $ 7,291,555 $ 9,831,129 $ 52,909,540 Commercial Consumer Totals Grade: Pass $ 5,390,814 $ 496,036 $ 142,592,256 Special Mention — — 2,532,775 Substandard — — 1,195,998 Doubtful — — — $ 5,390,814 $ 496,036 $ 146,321,029 December 31, 2018 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Grade: Pass $ 69,499,216 $ 7,462,230 $ 7,351,165 $ 49,781,890 Special Mention 113,612 — 794,174 1,638,669 Substandard 585,047 84,965 86,728 484,223 Doubtful — — — — $ 70,197,875 $ 7,547,195 $ 8,232,067 $ 51,904,782 Commercial Consumer Totals Grade: Pass $ 5,250,815 $ 529,283 $ 139,874,599 Special Mention — — 2,546,455 Substandard — — 1,240,963 Doubtful — — — $ 5,250,815 $ 529,283 $ 143,662,017 The following table sets forth certain information with respect to our loan portfolio delinquencies by loan class and amount as of March 31, 2019 and December 31, 2018: March 31, 2019 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment > 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ 227,312 $ — $ 340,652 $ 567,964 $ 69,833,991 $ 70,401,955 $ — $ 579,810 Home equity loans and lines of credit 46,080 — — 46,080 7,245,475 7,291,555 — 82,885 Construction and land development 790,509 — 86,728 877,237 8,953,892 9,831,129 — 86,728 Nonresidential 1,568,409 — 484,223 2,052,632 50,856,908 52,909,540 — 484,223 Other loans: Commercial — — — — 5,390,814 5,390,814 — — Consumer 137 — — 137 495,899 496,036 — — Total loans $ 2,632,447 $ — $ 911,603 $ 3,544,050 $ 142,776,979 $ 146,321,029 $ — $ 1,233,646 December 31, 2018 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ 101,183 $ 158,134 $ 343,651 $ 602,968 $ 69,594,907 $ 70,197,875 $ — $ 585,047 Home equity loans and lines of credit 35,606 — 48,005 83,611 7,463,584 7,547,195 — 84,965 Construction and land development 86,728 — — 86,728 8,145,339 8,232,067 — 86,728 Nonresidential — — 484,223 484,223 51,420,559 51,904,782 — 484,223 Other loans: Commercial — — — — 5,250,815 5,250,815 — — Consumer 233 — — 233 529,050 529,283 — — Total loans $ 223,750 $ 158,134 $ 875,879 $ 1,257,763 $ 142,404,254 $ 143,662,017 $ — $ 1,240,963 At March 31, 2019 and December 31, 2018 there were no loans 90 days past due and still accruing interest. At March 31, 2019, the Bank had ten loans on non-accrual status with foregone interest in the amount of $45,952. At December 31, 2018, the Bank had ten loans on non-accrual status with foregone interest in the amount of $36,054. The Bank accounts for impaired loans under generally accepted accounting principles. An impaired loan generally is one for which it is probable, based on current information, that the lender will not collect all the amounts due under the contractual terms of the loan. Loans are individually evaluated for impairment. When the Bank classifies a problem asset as impaired, it provides a specific reserve for that portion of the asset that is deemed uncollectible based on the present value of expected future cash flows discounted at the loan’s original effective interest rate, or based on the loan’s observable market price or fair value of the collateral if the loan is collateral dependent. The following table is a summary of impaired loans for the three months ended March 31, 2019 and 2018 and the year ended and December 31, 2018: Impaired Loans at March 31, 2019 Three Months Ended March 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to four-family $ 459,430 $ 463,756 $ — $ 462,049 $ 5,301 Home equity loans and lines of credit 82,885 82,885 — 83,925 1,934 Nonresidential 484,223 871,107 — 484,223 — With an allowance recorded: One-to four-family $ 202,354 $ 263,605 $ 61,125 $ 202,601 $ 1,337 Home equity loans and lines of credit 44,315 44,315 1,541 45,073 875 Construction and land development 86,728 86,728 6,074 86,728 — Total One-to four-family $ 661,784 $ 727,361 $ 61,125 $ 664,650 $ 6,638 Home equity loans and lines of credit 127,200 127,200 1,541 128,998 2,809 Construction and land development 86,728 86,728 6,074 86,728 — Nonresidential 484,223 871,107 — 484,223 — Impaired Loans at March 31, 2018 Three Months Ended March 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to four-family $ 490,473 $ 501,540 $ — $ 507,550 $ 7,425 Construction and land development 123,338 128,832 — 123,338 — With an allowance recorded: One-to four-family $ 179,793 $ 183,958 $ 59,152 $ 180,212 $ 1,916 Home equity loans and lines of credit 66,662 66,810 20,124 67,997 1,229 Consumer 6,052 6,093 6,052 6,165 158 Total One-to four-family $ 670,266 $ 685,498 $ 59,152 $ 687,762 $ 9,341 Home equity loans and lines of credit 66,662 66,810 20,124 67,997 1,229 Construction and land development 123,338 128,832 — 123,338 — Consumer 6,052 6,093 6,052 6,165 158 December 31, 2018 Recorded Unpaid Principal Related Average Recorded Interest Income Investment Balance Allowance Investment Recognized With no related allowance recorded: One-to four-family $ 585,047 $ 650,982 $ — $ 622,738 $ 22,214 Home equity loans and lines of credit 84,965 84,965 — 86,032 3,197 Nonresidential 484,223 872,655 — 847,383 26,452 With an allowance recorded: Home equity loans and lines of credit $ 45,830 $ 45,869 $ 2,089 $ 47,459 $ 2,743 Construction and land development 86,728 86,728 6,074 87,542 3,916 Total One-to four-family $ 585,047 $ 650,982 $ — $ 622,738 $ 22,214 Home equity loans and lines of credit 130,795 130,834 2,089 133,491 5,940 Construction and land development 86,728 86,728 6,074 87,542 3,916 Nonresidential 484,223 872,655 — 847,383 26,452 Impaired loans also include certain loans that have been modified in a troubled debt restructuring (a “TDR”) to make concessions to help a borrower remain current on the loan and/or to avoid foreclosure. These concessions typically result from the Bank’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Generally nonaccrual loans that are modified and are considered TDRs are classified as nonperforming at the time of the restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. A summary of TDRs at March 31, 2019 and December 31, 2018 are as follows: March 31, 2019 Number of Contracts Performing Nonperforming Total One-to four-family 1 $ — $ 120,380 $ 120,380 Home equity loans and lines of credit 1 44,315 — 44,315 Construction and land development — — — — Nonresidential — — — — Commercial — — — — Consumer — — — — 2 $ 44,315 $ 120,380 $ 164,695 December 31, 2018 Number of Contracts Performing Nonperforming Total One-to four-family 1 $ — $ 120,380 $ 120,380 Home equity loans and lines of credit 1 45,830 — 45,830 Construction and land development — — — — Nonresidential — — — — Commercial — — — — Consumer — — — — 2 $ 45,830 $ 120,380 $ 166,210 The Bank had two TDRs at March 31, 2019 totaling $164,695 and two TDRs at December 31, 2018 totaling $166,210. The Bank has no commitments to loan additional funds to borrowers whose loans have been modified. There were no nonperforming TDRs reclassified to nonperforming loans during the three months ended March 31, 2019 and 2018. A default is considered to have occurred once the TDR is past due 90 days or more, or it has been placed on nonaccrual. If loans modified in a TDR subsequently default, the Bank evaluates the loan for possible further impairment. The allowance may be increased, adjustments may be made in the allocation of the allowance, or partial charge-offs may be taken to further write-down the carrying value of the loan.

Foreclosed Real Estate

Foreclosed Real Estate	3 Months Ended
	Mar. 31, 2019
Foreclosed Real Estate	Note 5. Foreclosed Real Estate At both March 31, 2019 and December 31, 2018, the Bank had $865,000 in foreclosed real estate. The Bank did not dispose of any foreclosed real estate during the three months ended March 31, 2019 and March 31, 2018 and the twelve months ended December 31, 2018. The following table summarizes changes in foreclosed real estate for the three months ended March 31, 2019 and 2018 and for the year ended December 31, 2018, which are measured on a nonrecurring basis using significant unobservable, Level 3, inputs: March 31, December 31, 2019 2018 2018 Balance, beginning of period $ 865,000 $ 865,000 $ 865,000 Transfer to foreclosed real estate — — — Proceeds from sale of foreclosed real estate — — — Gain (loss) on sale of foreclosed real estate — — — Write-down of foreclosed real estate — — — Balance, end of period $ 865,000 $ 865,000 $ 865,000 At March 31, 2019 there were two residential real estate loans totaling $183,529 in the process of foreclosure. At December 31, 2018 there were two residential real estate loans totaling $184,228 and one nonresidential real estate loan totaling $484,223 in the process of foreclosure. At March 31, 2019 and December 31, 2018, there were no residential real estate properties included in foreclosed real estate.

Deposits

Deposits	3 Months Ended
	Mar. 31, 2019
Deposits	Note 6. Deposits Deposits are summarized as follows: March 31, December 31, 2019 2018 Noninterest-bearing demand $ 18,400,153 $ 18,111,318 Interest-bearing demand 23,830,180 23,354,687 Money market 11,186,824 11,775,372 Savings 25,471,758 24,881,515 Certificates of deposit 75,503,848 75,627,343 Total deposits $ 154,392,763 $ 153,750,235 Deposit accounts in the Bank are federally insured up to $250,000 per depositor. The aggregate amount of time deposits with balances of $250,000 or more totaled $11,645,957 and $11,415,706 at March 31, 2019 and December 31, 2018, respectively. At March 31, 2019 and December 31, 2018, certificates of deposit and their remaining maturities were as follows: March 31, 2020 $ 29,874,690 2021 17,448,908 2022 13,063,739 2023 7,235,027 2024 7,881,484 $ 75,503,848 December 31, 2019 $ 31,554,160 2020 16,108,384 2021 12,350,296 2022 7,659,227 2023 7,955,276 $ 75,627,343 Deposit balances of officers and directors totaled $944,211 and $730,168 at March 31, 2019 and December 31, 2018, respectively.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2019
Borrowings	Note 7. Borrowings The Bank has an agreement with the Federal Home Loan Bank of Atlanta (“FHLB”) that allows it to obtain advances secured by assets owned by the Bank. Total advances are limited to 25% of the Bank’s total assets. As of March 31, 2019 and December 31, 2018, the Bank had availability of $53,900,000 and $54,400,000, respectively, with FHLB. As of March 31, 2019 and December 31, 2018, the Bank pledged a portion of its one-to four-family residential mortgages as collateral. The amount of loans that were deemed eligible to pledge as collateral totaled approximately $52,650,000 and $50,320,000 at March 31, 2019 and December 31, 2018, respectively. The Bank had no outstanding advances at March 31, 2019 and December 31, 2018. The Bank also has a $2,000,000 secured federal funds line of credit available with another financial institution, for which no amounts were outstanding as of March 31, 2019 and December 31, 2018.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Mar. 31, 2019
Employee Stock Ownership Plan	Note 8. Employee Stock Ownership Plan In connection with the Bank’s mutual to stock conversion in September 2018, the Bank established the Chesapeake Bank of Maryland Employee Stock Ownership Plan (“ESOP”) for all eligible employees. The ESOP purchased 338,560 shares of Company common stock in the Company’s initial public offering at $10.00 per share with the proceeds of a ten (10) year loan from the Company. The Bank intends to make annual contributions to the ESOP that at a minimum will permit the ESOP to repay the principal and interest due on the ESOP debt. However, the Bank may prepay the principal of the note, partially or in full and without penalty or premium at any time and from time to time without prior notice to the holder. Any dividends declared on Company common stock held by the ESOP and not allocated to the account of a participant can be used to repay the loan. As the ESOP loan is repaid, shares of Company common stock pledged as collateral for the loan are released from the loan suspense account for allocation to Plan participants on the basis of each active participant’s proportional share of compensation. Participants vest 100% in their ESOP allocations after three years of service. In connection with the implementation of the ESOP, participants were given credit for past service with the Bank for vesting purposes. Participants will become fully vested upon age 65, death or disability, a change in control, or termination of the ESOP. Generally, participants will receive distributions from the ESOP upon separation from service. The plan reallocates any unvested shares of common stock forfeited upon termination of employment among the remaining participants in the plan. The ESOP compensation expense for the three months ended March 31, 2019 and 2018 was $108,762 and $0, respectively. This amount represents the average fair market value of the shares of Company common stock allocated or committed to be released as of that date. The difference between the market price and the cost of shares committed to be released is recorded as an adjustment to additional paid-in capital. Dividends, if any, on allocated shares are recorded as a reduction of retained earnings and dividends, if any, on unallocated shares are recorded as a reduction of the debt service. At March 31, 2019, there were 304,704 shares not yet released having an aggregate market value of approximately $3,945,917.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Common Share	Note 9. Earnings Per Common Share Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Net income available to common stockholders is net income to the Company. Unallocated common shares held by the ESOP are not included in the weighted average number of common shares outstanding for purposes of calculating earnings per share until they are committed to be released. The Company has no dilutive potential common shares for the three months ended March 31, 2019. Because the mutual to stock conversion was not completed until September 2018, the earnings per share data are not presented for the three months ended March 31, 2018. Three Months Ended March 31, 2019 Net income $ 272,023 Weighted average common shares outstanding 3,927,296 Earnings per common share, basic and diluted $ 0.07

Regulatory Capital Requirements

Regulatory Capital Requirements	3 Months Ended
	Mar. 31, 2019
Regulatory Capital Requirements	Note 10. Regulatory Capital Requirements The Bank is subject to various regulatory capital requirements administered by Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s consolidated financial statements. These capital requirements were modified in 2013 with the Basel III capital rules, which establish a new comprehensive capital framework for U.S. banking organizations. The Bank became subject to the new rules on January 1, 2015, with a phase-in period for many of the new provisions which was fully phased in on January 1, 2019. As of March 31, 2019, the Company’s capital levels remained characterized as “well-capitalized” under the new rules. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital adequacy guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of Common Equity Tier 1 Capital, Tier 1 Capital, and Total Capital to Risk Weighted Assets and of Tier 1 Capital to Average Assets. Management believes, as of March 31, 2019 and December 31, 2018, all applicable capital adequacy requirements have been met. The most recent notification from the OCC categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum total risk-based capital, Tier 1 capital to risk-weighted assets, and Tier 1 capital to adjusted total assets, ratios. There have been no conditions or events since that notification that management believes have changed the Bank’s category. The actual and required capital amounts and ratios of the Bank as of March 31, 2019 and December 31, 2018 were as follows (dollars in thousands): Actual Minimum To Be Well Capitalized under Basel III Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of March 31, 2019: Common equity tier 1 capital (to risk-weighted assets) $ 40,223 29.48 % $ 8,870 >6.50 % $ 8,870 >6.50 % Total risk-based capital (to risk-weighted assets) 41,536 30.44 % 13,647 >10.0 % 13,647 >10.0 % Tier 1 capital (to risk-weighted assets) 40,223 29.48 % 10,917 > 8.0 % 10,917 >8.0 % Tier 1 capital (to average assets) 40,223 18.62 % 8,640 >4.0 % 10,800 >5.0 % As of December 31, 2018: Common equity tier 1 capital (to risk-weighted assets) $ 39,871 29.67 % $ 8,566 >6.375 % $ 8,734 > % Total risk-based capital (to risk-weighted assets) 41,094 30.58 % 13,269 >9.875 % 13,437 > % Tier 1 capital (to risk-weighted assets) 39,871 29.67 % 10,581 >7.875 % 10,749 ³8.0 % Tier 1 capital (to average assets) 39,871 18.45 % 8,643 >4.000 % 10,804 > %

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Measurements	Note 11. Fair Value Measurements ASC Topic 820 provides a framework for measuring and disclosing fair value under GAAP. ASC Topic 820 requires disclosures about the fair value of assets and liabilities recognized in the balance sheet in periods subsequent to initial recognition, whether the measurements are made on a recurring basis (for example, available-for-sale investment securities) or a nonrecurring basis (for example, impaired loans). ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Bank utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available-for-sale is recorded at fair value on a recurring basis. Additionally, from time to time, the Bank may be required to record at fair value all other assets on a nonrecurring basis, such as loans held for sale, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. ASC Topic 820 establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy is as follows: 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 prices for similar assets and liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market for the asset or liability, for substantially the full term of the financial instrument. Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement and based on the Bank’s own assumptions about market participants’ assumptions. The following is a description of the valuation methods used for instruments measured at fair value as the general classification of such instruments pursuant to the applicable valuation method. Fair value measurements on a recurring basis Securities available for sale – If quoted prices are available in an active market for identical assets, securities are classified within Level 1 of the hierarchy. If quoted market prices are not available, then fair values are estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and securities dare included within Level 2 of the hierarchy. As of March 31, 2019 and December 31, 2018 the Bank has categorized its investment securities available for sale as follows: Level 1 Level 2 Level 3 Total March 31, 2019 Securities available for sale: U.S. Government Agency and Federal Obligations $ — $ 21,312,605 $ — $ 21,312,605 Residential mortgage-backed securities 20,265,331 — 20,265,331 Municipal Securities — 1,511,490 — 1,511,490 December 31, 2018 Securities available for sale: U.S. Government Agency and Federal Obligations $ — $ 18,220,072 $ — $ 18,220,072 Residential mortgage-backed securities 17,744,986 — 17,744,986 Municipal Securities — 1,482,365 — 1,482,365 Fair value measurements on a nonrecurring basis Loans held for sale – The Bank’s loans held for sale are carried at the lower of cost or market. Fair value of loans held for sale is based upon outstanding investor commitments or, in the absence of such commitments, based on current investor yield requirements or third party pricing models and are considered Level 2. Impaired loans – The Bank measures impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values. As of March 31, 2019 and December 31, 2018 the fair values consisted of loan balances of $1,359,935 and $1,286,793 that have been written down by $68,740 and $8,163, respectively, as a result of specific loan loss allowances. Foreclosed real estate – The Bank’s foreclosed real estate is measured at fair value less estimated cost to sell. As of March 31, 2019 and December 31, 2018, the fair value of foreclosed real estate was estimated to be $865,000. Fair value was determined based on offers and/or appraisals. Cost to sell the real estate was based on standard market factors. The Bank has categorized its foreclosed real estate as Level 3. Level 1 Level 2 Level 3 Total March 31, 2019 Loans held for sale $ — $ 466,524 $ — $ 466,524 Impaired loans — — 1,291,195 1,291,195 Foreclosed real estate — — 865,000 865,000 December 31, 2018 Loans held for sale $ — $ 211,107 $ — $ 211,107 Impaired loans — — 1,278,630 1,278,630 Foreclosed real estate — — 865,000 865,000 The following table presents quantitative information about Level 3 fair value measurements for selected financial instruments measured at fair value on a non-recurring basis at March 31, 2019 and December 31, 2018: Fair Value Value Technique(s) Unobservable Inputs Range or Rate Used March 31, 2019 Impaired loans $ 1,291,195 Appraised value Discount to reflect current market conditions 0.00 56.47 Discounted cash flows Discount rates 3.48 Foreclosed real estate $ 865,000 Appraised value Discount to reflect current market conditions 27.92 December 31, 2018 Impaired loans $ 1,278,630 Appraised value Discount to reflect current market conditions 0.00 7.00 Discounted cash flows Discount rates 4.55 Foreclosed real estate $ 865,000 Appraised value Discount to reflect current market conditions 27.92 The remaining financial assets and liabilities are not reported on the balance sheet at fair value on a recurring basis. The calculation of estimated fair values is based on market conditions at a specific point in time and may not reflect current or future fair values. The estimated fair values of the Bank’s financial instruments, whether carried at cost or fair value are as follows: Fair Value Measurements at March 31, 2019 Using Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 11,615 $ 11,615 $ — $ — $ 11,615 Time deposits in other banks 7,442 — 7,474 — 7,474 Securities available for sale 43,089 — 43,089 — 43,089 Federal Home Loan Bank stock 279 — 279 — 279 Loans held for sale 467 — 467 — 467 Loans, net (1) 144,900 — — 144,350 144,350 Foreclosed real estate 865 — — 865 865 Accrued interest receivable 763 — 763 — 763 Financial liabilities: Deposits 154,393 — 134,374 — 134,374 (1) Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion. Fair Value Measurements at December 31, 2018 Using Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 18,847 $ 18,847 $ — $ — $ 18,847 Time deposits in other banks 6,944 — 6,867 — 6,867 Securities available for sale 37,447 — 37,447 — 37,447 Federal Home Loan Bank stock 245 — 245 — 245 Loans held for sale 211 — 211 — 211 Loans, net (1) 142,320 — — 141,563 141,563 Foreclosed real estate 865 — — 865 865 Accrued interest receivable 696 — 696 — 696 Financial liabilities: Deposits 153,750 — 136,090 — 136,090 (2) Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Basis of Presentation	Basis of Presentation Pursuant to the terms and conditions of a plan of conversion and reorganization, adopted by its Board of Directors and approved by its members, Banks of the Chesapeake, M.H.C. converted from the mutual holding company corporate structure to the public stock holding company structure as follows: CBM Bancorp, Inc. (“CBM Bancorp” or “Company”) was incorporated on May 22, 2018 to serve as the successor holding company for Chesapeake Bank of Maryland (“Bank”),which was at that time the wholly owned subsidiary of Banks of the Chesapeake, M.H.C. On September 27, 2018, in accordance with the plan of conversion and reorganization, CBM Bancorp became the parent holding company for the Bank and Banks of the Chesapeake, M.H.C. merged with and into CBM Bancorp, with the Company as the surviving corporation. Upon consummation of the merger, Banks of the Chesapeake, M.H.C. ceased to exist. The conversion and reorganization was accomplished through the sale and issuance of 4,232,000 shares of common stock at a price of $10.00 per share, through which the Company received proceeds of approximately $40.9 million, net of offering expenses of approximately $1.4 million. Approximately 50% of the net proceeds of the offering, or $20.5 million was contributed by the Company to the Bank in return for 100% of the issued and outstanding shares of common stock of the Bank. In connection with the conversion and reorganization, the Bank’s Board of Directors adopted an employee stock ownership plan (the “ESOP”) which subscribed for 8% of the sum of the number of shares, or 338,560 shares of common stock sold in the offering. The plan of conversion and reorganization provided for the establishment of a liquidation account by CBM Bancorp for the benefit of eligible account holders in an amount equal to the value of the net assets of Banks of the Chesapeake, M.H.C. as of the date of the latest statement of financial condition of Banks of the Chesapeake, M.H.C. prior to the consummation of the conversion and reorganization. The plan of conversion and reorganization also provided for the establishment of a parallel liquidation account in the Bank to support the CBM Bancorp liquidation account in the event CBM Bancorp does not have sufficient assets to fund its obligations under the CBM Bancorp liquidation account. In the unlikely event that the Bank were to liquidate after the conversion and reorganization, all claims of creditors, including those of depositors, would be paid first. However, except with respect to the liquidation account to be established in CBM Bancorp, depositors’ claims would be solely for the principal amount of their deposit accounts plus accrued interest. Depositors generally would not have an interest in the value of the assets of the Bank or CBM Bancorp above that amount. Pursuant to the plan of conversion and reorganization, after two years from the date of conversion and reorganization, and upon the written request of the Federal Reserve Board, CBM Bancorp will transfer, or upon the prior written approval of the Federal Reserve Board, CBM Bancorp may transfer, the liquidation account and the depositors’ interests in such account to the Bank, and the liquidation account shall thereupon be subsumed into the liquidation account of the Bank. The Company may not pay a dividend on, or repurchase any of, it capital stock, if the effect thereof would cause retained earnings to be reduced below the liquidation account amount or regulatory capital requirements. In addition, the Company is subject to certain other regulations restricting the payment of dividends on, and the repurchase of, its capital stock. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Operating results for the three months ended March 31, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019, or any other period. For further information, refer to the Bank’s annual audited consolidated financial statements and related notes for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K dated March 27, 2019.
Nature of Operations	Nature of Operations CBM Bancorp, Inc.’s primary business is the ownership and operation of the Bank, a community-oriented federal stock savings bank regulated by the Office of the Comptroller of the Currency. The Bank’s primary business activity is the acceptance of deposits from the general public and using the proceeds for loan originations and investments. The Bank is subject to competition from other financial institutions. The Bank is subject to the regulations of certain federal agencies and undergoes periodic examinations by the regulatory authorities. The accounting and reporting policies of CBM Bancorp, Inc. and Chesapeake Bank of Maryland conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to general practices in the banking industry. The more significant policies follow:
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of CBM Bancorp, Inc. and the Bank, its wholly owned subsidiary. Material intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for losses on loans, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and the valuation of deferred tax assets. In connection with the determination of the allowances for loan losses and foreclosed real estate, management obtains independent appraisals for significant properties.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash and balances due from banks, interest-bearing deposits in other banks and federal funds sold. Generally federal funds are sold as overnight investments.
Time Deposits in Other Banks	Time Deposits in Other Banks The Bank uses financial instruments to supplement the investment securities portfolio. Interest income is recognized as earned. Purchase premiums and discounts are recognized as part of interest income using the interest method over the terms of the investments. Realized gains and losses on the sale of time deposits in other banks are included in earnings based on the trade date and are determined using the specific identification method. Time deposits in other banks are not marked to market.
Investment Securities	Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designation as of each balance sheet date. Securities that the Bank has the positive intent and ability to hold to maturity are classified as held to maturity and are reported at amortized cost (including amortization of premium or accretion of discount). Securities classified as available for sale are carried at fair value and are those securities that the Bank intends to hold for an indefinite period of time but not necessarily to maturity. Unrealized gains and losses are reported as increases or decreases in other comprehensive income. Realized gains and losses, determined on the basis of the cost of the specific securities sold, are included in earnings on a trade date basis. Premiums and discounts are recognized in interest income using a method which approximates the interest method over the terms of the securities. Declines in the fair value of available for sale securities below their cost that are deemed to be other than temporary, if any, are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock Federal Home Loan Bank of Atlanta (“FHLB”) stock is an equity interest in the FHLB, which does not have a readily determinable fair value for purposes of Generally Accepted Accounting Standards related to Accounting for Certain Investments in Debt and Equity Securities, because its ownership is restricted and it lacks a market. FHLB stock represents the required investment in the common stock of the Federal Home Loan Bank of Atlanta according to a predetermined formula. FHLB stock can be sold back only at par value of $100 per share and only to the FHLB or another member institution. As of March 31, 2019 and December 31, 2018, the Bank owned shares totaling $279,100 and $245,200, respectively.
Loans Held for Sale	Loans Held for Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value. Fair value is derived from secondary market quotations for similar instruments. Gains and losses on loan sales are recorded in non-interest income, and loan origination fees, net of certain direct origination costs are deferred at origination of the loan and are recognized in non-interest income upon sale of the loan. The Bank’s current practice is to sell residential mortgage loans on a servicing released basis, and, therefore, it has no intangible asset recorded for the value of such servicing. Interest on loans held for sale is credited to income based on the principal amounts outstanding. The Bank enters into commitments to originate residential mortgage loans whereby the interest rate on the loan is determined prior to funding (i.e., rate lock commitment). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between the issuance of a loan commitment and closing and sale of the loan generally ranges from 30 to 90 days. The Bank protects itself from changes in interest rates through the use of best efforts forward delivery commitments, whereby the investor commits to purchase a loan at a price representing a premium on the day the borrower commits to an interest rate with the intent that they buyer/investor has assumed the interest rate risk on the loan. As a result, the Bank is not generally exposed to losses on loans sold utilizing best efforts, nor will it realize gains related to rate lock commitments due to changes in interest rates. Loans held for sale that are not ultimately sold, but instead are placed into the Bank’s portfolio, are reclassified as loans held for investment and recorded at fair value.
Loans	Loans Loans are generally carried at the amount of unpaid principal, less the allowance for loan losses and adjusted for deferred loan origination fees and costs, which are recognized over the term of the loan as an adjustment to yield using a method that approximates the interest method. Interest on loans is accrued based on the principal amounts outstanding. It is the Bank’s policy to discontinue the accrual of interest when the principal or interest is delinquent for 90 days or more, or if collection of principal and interest in full is in doubt. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. The carrying value of impaired loans is based on the present value of the loan’s expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral. Impaired loans also include certain loans that have been modified in a troubled debt restructuring (“TDR”) to make concessions to help a borrower remain current on the loan and/or to avoid foreclosure. These concessions typically result from the Bank’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Generally nonaccrual loans that are modified and are considered TDRs are classified as nonperforming at the time of the restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to earnings. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Bank maintains the allowance at a level believed, to the best of management’s knowledge, to cover all known and inherent losses in the portfolio that are both probable and reasonable to estimate at each reporting date. The evaluation process by portfolio segment includes, among other things, an analysis of delinquency trends, non-performing loan trends, the level of charge-offs and recoveries, prior loss experience, total loans outstanding, the volume of loan originations, the type, size and geographic concentration of the loans, the value of collateral securing the loan, the borrower’s ability to repay and repayment performance, the number of loans requiring heightened management oversight, local economic conditions and industry experience. The establishment of the allowance for loan losses is significantly affected by management’s judgment and uncertainties, and there is likelihood that different amounts would be reported under different conditions or assumptions. The Office of the Comptroller of the Currency as an integral part of its examination process periodically reviews the allowance for loan losses and may require the Bank to make additional provisions for estimated loan losses based upon judgments different from those of management. The Bank’s policies, consistent with regulatory guidelines, provide for the classification of loans and other assets that are considered to be of lesser quality as substandard, doubtful, or loss assets. An asset is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard assets include those assets characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Assets (or portions of assets) classified as loss, are those considered uncollectible and of such little value that their recognition as assets is not justified. Assets that do not expose us to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve close attention, are required to be designated as special mention. While the Bank utilizes available information to recognize losses on loans, future additions to the allowances for loan losses may be necessary based on changes in economic conditions, particularly in its’ market area primarily in the state of Maryland. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Actual loan losses may be significantly more than the allowance for loan and lease losses the Bank has established, which could have a material negative effect on our consolidated financial statements.
Bank-Owned Life Insurance ("BOLI")	Bank-Owned Life Insurance (“BOLI”) The Bank maintains life insurance policies on certain present and former directors. These policies are split-dollar or director insurance policies. Under the split-dollar insurance policies, the Bank pays the premiums and upon the death of the insured, the Bank will receive an amount equal to the premiums paid on the policy from the policy date to the date of death. Any remaining proceeds will be paid to the beneficiary. If the policy is surrendered before the date of death, the Bank will receive the lesser of the cash surrender value or the sum of the premiums paid on the policy from the policy date to the date of surrender. Under the director insurance policies, the Bank receives the cash surrender value if the policy is surrendered, or receives all benefits payable upon the death of the insured. As of March 31, 2019, and December 31, 2018, $126,201 and $129,775, respectively, was included in other liabilities related to the split-dollar insurance policies.
Premises and Equipment	Premises and Equipment Land is carried at cost. Property and equipment is carried at cost less accumulated depreciation. Depreciation is computed on the straight-line method over estimated useful lives of assets. Amortization of leasehold improvements is recognized on a straight-line basis over the term of the lease or the life of the improvement, whichever is shorter. The cost of maintenance and repairs is charged to expense as incurred whereas improvements are capitalized. The range of estimated useful lives for premises and equipment are as follows: Buildings and land improvements 5 - 50 years Leasehold improvements 10 - 15 years Furniture, fixtures and equipment 3 - 10 years Automobile 5 years
Foreclosed Real Estate	Foreclosed Real Estate Real estate acquired through foreclosure or other means is recorded at the fair value of the related real estate collateral at the transfer date less estimated selling costs. Losses incurred at the time of the acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated fair value of the property are included in noninterest expense. Costs to maintain foreclosed real estate are expensed as incurred.
Employee Stock Ownership Plan (ESOP)	Employee Stock Ownership Plan (“ESOP”) Compensation expense is recognized based on the current market price of shares committed to be released to employees. All shares released and committed to be released are deemed outstanding for purposes of earnings per share calculations. Dividends declared and paid on allocated shares held by the ESOP are charged to retained earnings. The value of unearned shares to be allocated to ESOP participants for future services not yet performed is reflected as a reduction of stockholders’ equity. Dividends declared on unallocated shares held by the ESOP are recorded as a reduction of the ESOP’s loan payment to the Company.
Income Taxes	Income Taxes The provision for income taxes includes taxes payable for the current year and deferred income taxes. Deferred income taxes are provided for the temporary differences between financial and taxable income. Deferred income taxes and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management it is more likely than not that some portion of the deferred tax asset will not be realized. Deferred tax assets and liabilities are adjusted through earnings for the effects of changes in tax laws and rates on the date of enactment.
Earnings per Common Share	Earnings per Common Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Weighted average shares include allocated ESOP shares but exclude unallocated ESOP shares. Diluted earnings per share includes additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance.
Off-Balance Sheet Financial Instruments	Off-Balance Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. These commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized on the balance sheet. Such financial instruments are recorded when they are funded. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments is represented by the contractual amount of these instruments. The Bank uses the same credit policies for these instruments as it does for the on-balance sheet instruments.
Concentrations of Credit Risk	Concentrations of Credit Risk The Bank had approximately $1,288,000 and approximately $128,000 in deposits in other financial institutions in excess of amounts insured by the FDIC, as of March 31, 2019 and December 31, 2018, respectively. The Bank’s management considers this a normal business risk. The Bank also maintains accounts with brokerage firms containing securities. These balances are insured up to $500,000 by the Securities Investor Protection Corporation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU 2016-02, Leases (Topic 842) . This ASU provides certain targeted improvements to align lessor accounting with the lessee accounting model. This update will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, including interim reporting periods within that reporting period, for public business entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain an emerging growth company (“EGC”), we will adopt the amendments in this update beginning after December 15, 2019, and interim periods with fiscal years beginning after December 15, 2019. A modified retrospective approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The adoption of this ASU is not expected to have a material effect on the Company’s consolidated financial position, results of operations or cash flows. ASU 2016-13, Financial Instruments – Credit Losses . The ASU sets forth a “current expected credit loss” (CECL) model which requires the Bank to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, for public business entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain an EGC, we will adopt the amendments in this update beginning after December 15, 2020, including interim periods within those fiscal years. Entities will apply the standard’s provisions as a cumulative-effect (i.e., modified retrospective approach). The Company has begun to gather loan information and consider acceptable methodologies to comply with this ASU. The Company’s initial evaluation indicates that the provisions of this ASU are expected to impact its consolidated financial statements, in particular the level of reserve for loan losses. The Company is continuing to evaluate and assess the impact of the adoption of this ASU on its consolidated financial statements. ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20)—Premium Amortization on Purchased Callable Debt Securities.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Range of Estimated Useful Lives for Premises and Equipment	The range of estimated useful lives for premises and equipment are as follows: Buildings and land improvements 5 - 50 years Leasehold improvements 10 - 15 years Furniture, fixtures and equipment 3 - 10 years Automobile 5 years

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2019
Amortized Cost and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity	The amortized cost and estimated fair value of securities classified as available for sale at March 31, 2019 and December 31, 2018, are as follows: March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government and Federal Agency obligations $ 21,252,762 $ 107,809 $ 47,966 $ 21,312,605 Residential mortgage-backed securities 19,893,086 372,446 201 20,265,331 Municipal securities 1,505,655 6,419 584 1,511,490 $ 42,651,503 $ 486,674 $ 48,751 $ 43,089,426 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government and Federal Agency obligations $ 18,264,805 $ 45,850 $ 90,583 $ 18,220,072 Residential mortgage-backed securities 17,637,729 111,837 4,580 17,744,986 Municipal securities 1,505,962 — 23,597 1,482,365 $ 37,408,496 $ 157,687 $ 118,760 $ 37,447,423
Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity	The amortized cost and estimated fair value of securities as of March 31, 2019 and December 31, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2019 Securities Available for Sale Amortized Cost Fair Value Due in one year or less $ 3,815,589 $ 3,819,158 Due after one year through five years 17,457,680 17,500,241 Due five years to ten years 1,485,148 1,504,696 Due after ten years — — Mortgage-backed, in monthly installments 19,893,086 20,265,331 $ 42,651,503 $ 43,089,426 December 31, 2018 Securities Available for Sale Amortized Cost Fair Value Due in one year or less $ 1,000,000 $ 989,119 Due after one year through five years 14,453,375 14,391,553 Due five years to ten years 4,317,392 4,321,765 Due after ten years — — Mortgage-backed, in monthly installments 17,637,729 17,744,986 $ 37,408,496 $ 37,447,423
Securities with Gross Unrealized Losses	Securities with gross unrealized losses at March 31, 2019 and December 31, 2018 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: March 31, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities Available for Sale U.S. Government and Federal Agency obligations $ — $ — $ 4,451,167 $ 47,966 $ 4,451,167 $ 47,966 Residential mortgage-backed securities 215,394 201 — — 215,394 201 Municipal obligations — — 1,002,160 584 1,002,160 584 $ 215,394 $ 201 $ 5,453,327 $ 48,550 $ 5,668,721 $ 48,751 December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Securities Available for Sale U.S. Government and Federal Agency obligations $ 963,945 $ 63 $ 4,408,553 $ 90,520 $ 5,372,498 $ 90,583 Residential mortgage-backed securities 2,838,108 4,580 — — 2,838,108 4,580 Municipal obligations — — 1,482,365 23,597 1,482,365 23,597 $ 3,802,053 $ 4,643 $ 5,890,918 $ 114,117 $ 9,692,971 $ 118,760

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2019
Summary of Principal Loan Portfolio Segment	The Bank makes loans to customers primarily in the Baltimore Metropolitan Area and its surrounding counties. The principal loan portfolio segment balances at March 31, 2019 and December 31, 2018 were as follows: March 31, December 31, 2019 2018 Real estate loans One-to four-family $ 70,401,955 $ 70,197,875 Home equity loans and lines of credit 7,291,555 7,547,195 Construction and land development 9,831,129 8,232,067 Nonresidential 52,909,540 51,904,782 Total real estate loans 140,434,179 137,881,919 Other loans Commercial 5,390,814 5,250,815 Consumer 496,036 529,283 Total other loans 5,886,850 5,780,098 Total loans 146,321,029 143,662,017 Net deferred loan origination fees and costs (142,702 ) (153,204 ) Allowance for loan losses (1,278,352 ) (1,188,352 ) Total loans, net $ 144,899,975 $ 142,320,461

Credit Quality of Loans and t_2

Credit Quality of Loans and the Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2019
Summary of Allowance for Loan Losses and Loans Receivable by Loan Portfolio Class and Impairment Method	The following tables summarize the activity in the allowance for losses for the three months ended March 31, 2019 2018 and for the year ended December 31, 2018 and the distribution of the allowance for loan losses and loans receivable by loan portfolio class and impairment method as of March 31, 2019, March 31, 2018 and December 31, 2018. As of March 31, 2019 One–to Four-Family Home Equity Loans and Lines of Credit Construction and Land Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses: Beginning Balance – January 1, 2019 $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Charge-offs — — — — — — — — Recoveries — — — — — — — — Provision 61,263 (7,115 ) 33,825 5,068 770 (369 ) (3,442 ) 90,000 Ending Balance – March 31, 2019 $ 306,044 $ 61,722 $ 218,995 $ 631,099 $ 29,649 $ 6,300 $ 24,543 $ 1,278,352 Ending balance: individually evaluated for impairment $ 61,125 $ 1,541 $ 6,074 $ — $ — $ — $ — $ 68,740 Ending balance: collectively evaluated for impairment $ 244,919 $ 60,181 $ 212,921 $ 631,099 $ 29,649 $ 6,300 $ 24,543 $ 1,209,612 Loans: Ending balance $ 70,401,955 $ 7,291,555 $ 9,831,129 $ 52,909,540 $ 5,390,814 $ 496,036 $ 146,321,029 Ending balance: individually evaluated for impairment $ 661,784 $ 127,200 $ 86,728 $ 484,223 $ — $ — $ 1,359,935 Ending balance: collectively evaluated for impairment $ 69,740,171 $ 7,164,355 $ 9,744,401 $ 52,425,317 $ 5,390,814 $ 496,036 $ 144,961,094 As of March 31, 2018 One –to Four-Family Home Equity Construction and Land Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses: Beginning Balance – January 1, 2018 $ 238,148 $ 83,129 $ 173,167 $ 446,576 $ 44,199 $ 15,933 $ 37,253 $ 1,038,405 Charge-offs (30,000 ) — — — — — — (30,000 ) Recoveries — — 8,299 — — — — 8,299 Provision 51,071 (8,518 ) 4,940 34,805 (17,675 ) 250 10,127 75,000 Ending Balance – March 31, 2018 $ 259,219 $ 74,611 $ 186,406 $ 481,381 $ 26,524 $ 16,183 $ 47,380 $ 1,091,704 Ending balance: individually evaluated for impairment $ 59,152 $ 20,124 $ — $ — $ — $ 6,052 $ — $ 85,328 Ending balance: collectively evaluated for impairment $ 200,067 $ 54,487 $ 186,406 $ 481,381 $ 26,524 $ 10,131 $ 47,380 $ 1,006,376 Loans: Ending balance $ 69,628,606 $ 9,181,975 $ 9,477,151 $ 47,545,898 $ 4,822,632 $ 536,178 $ 141,192,440 Ending balance: individually evaluated for impairment $ 670,266 $ 66,662 $ 123,338 $ — $ — $ 6,052 $ 866,318 Ending balance: collectively evaluated for impairment $ 68,958,340 $ 9,115,313 $ 9,353,813 $ 47,545,898 $ 4,822,632 $ 530,126 $ 140,326,122 As of December 31, 2018 One –to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Beginning Balance $ 238,148 $ 83,129 $ 173,167 $ 446,576 $ 44,199 $ 15,933 $ 37,253 $ 1,038,405 Charge-offs (88,000 ) (12,013 ) — (335,000 ) — (5,901 ) — (440,914 ) Recoveries 7,562 — 8,299 — — — — 15,861 Provision 87,071 (2,279 ) 3,704 514,455 (15,320 ) (3,363 ) (9,268 ) 575,000 Ending Balance $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Ending balance: individually evaluated for impairment $ — $ 2,089 $ 6,074 $ — $ — $ — $ — $ 8,163 Ending balance: collectively evaluated for impairment $ 244,781 $ 66,748 $ 179,096 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,180,189 Loans: Ending balance $ 70,197,875 $ 7,547,195 $ 8,232,067 $ 51,904,782 $ 5,250,815 $ 529,283 $ 143,662,017 Ending balance: individually evaluated for impairment $ 585,047 $ 130,795 $ 86,728 $ 484,223 $ — $ — $ 1,286,793 Ending balance: collectively evaluated for impairment $ 69,612,828 $ 7,416,400 $ 8,145,339 $ 51,420,559 $ 5,250,815 $ 529,283 $ 142,375,224
Summary of Loan Portfolio Quality Indicators by Loan Class Recorded Investment	The following table is a summary of the loan portfolio quality indicators by loan class recorded investment as of March 31, 2019 and December 31, 2018: March 31, 2019 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Grade: Pass $ 69,740,171 $ 7,208,670 $ 8,953,892 $ 50,802,673 Special Mention 82,817 36,805 790,509 1,622,644 Substandard 578,967 46,080 86,728 484,223 Doubtful — — — — $ 70,401,955 $ 7,291,555 $ 9,831,129 $ 52,909,540 Commercial Consumer Totals Grade: Pass $ 5,390,814 $ 496,036 $ 142,592,256 Special Mention — — 2,532,775 Substandard — — 1,195,998 Doubtful — — — $ 5,390,814 $ 496,036 $ 146,321,029 December 31, 2018 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Grade: Pass $ 69,499,216 $ 7,462,230 $ 7,351,165 $ 49,781,890 Special Mention 113,612 — 794,174 1,638,669 Substandard 585,047 84,965 86,728 484,223 Doubtful — — — — $ 70,197,875 $ 7,547,195 $ 8,232,067 $ 51,904,782 Commercial Consumer Totals Grade: Pass $ 5,250,815 $ 529,283 $ 139,874,599 Special Mention — — 2,546,455 Substandard — — 1,240,963 Doubtful — — — $ 5,250,815 $ 529,283 $ 143,662,017
Summary of Loan Portfolio Delinquencies	The following table sets forth certain information with respect to our loan portfolio delinquencies by loan class and amount as of March 31, 2019 and December 31, 2018: March 31, 2019 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment > 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ 227,312 $ — $ 340,652 $ 567,964 $ 69,833,991 $ 70,401,955 $ — $ 579,810 Home equity loans and lines of credit 46,080 — — 46,080 7,245,475 7,291,555 — 82,885 Construction and land development 790,509 — 86,728 877,237 8,953,892 9,831,129 — 86,728 Nonresidential 1,568,409 — 484,223 2,052,632 50,856,908 52,909,540 — 484,223 Other loans: Commercial — — — — 5,390,814 5,390,814 — — Consumer 137 — — 137 495,899 496,036 — — Total loans $ 2,632,447 $ — $ 911,603 $ 3,544,050 $ 142,776,979 $ 146,321,029 $ — $ 1,233,646 December 31, 2018 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ 101,183 $ 158,134 $ 343,651 $ 602,968 $ 69,594,907 $ 70,197,875 $ — $ 585,047 Home equity loans and lines of credit 35,606 — 48,005 83,611 7,463,584 7,547,195 — 84,965 Construction and land development 86,728 — — 86,728 8,145,339 8,232,067 — 86,728 Nonresidential — — 484,223 484,223 51,420,559 51,904,782 — 484,223 Other loans: Commercial — — — — 5,250,815 5,250,815 — — Consumer 233 — — 233 529,050 529,283 — — Total loans $ 223,750 $ 158,134 $ 875,879 $ 1,257,763 $ 142,404,254 $ 143,662,017 $ — $ 1,240,963
Summary of Impaired Loans	The following table is a summary of impaired loans for the three months ended March 31, 2019 and 2018 and the year ended and December 31, 2018: Impaired Loans at March 31, 2019 Three Months Ended March 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to four-family $ 459,430 $ 463,756 $ — $ 462,049 $ 5,301 Home equity loans and lines of credit 82,885 82,885 — 83,925 1,934 Nonresidential 484,223 871,107 — 484,223 — With an allowance recorded: One-to four-family $ 202,354 $ 263,605 $ 61,125 $ 202,601 $ 1,337 Home equity loans and lines of credit 44,315 44,315 1,541 45,073 875 Construction and land development 86,728 86,728 6,074 86,728 — Total One-to four-family $ 661,784 $ 727,361 $ 61,125 $ 664,650 $ 6,638 Home equity loans and lines of credit 127,200 127,200 1,541 128,998 2,809 Construction and land development 86,728 86,728 6,074 86,728 — Nonresidential 484,223 871,107 — 484,223 — Impaired Loans at March 31, 2018 Three Months Ended March 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to four-family $ 490,473 $ 501,540 $ — $ 507,550 $ 7,425 Construction and land development 123,338 128,832 — 123,338 — With an allowance recorded: One-to four-family $ 179,793 $ 183,958 $ 59,152 $ 180,212 $ 1,916 Home equity loans and lines of credit 66,662 66,810 20,124 67,997 1,229 Consumer 6,052 6,093 6,052 6,165 158 Total One-to four-family $ 670,266 $ 685,498 $ 59,152 $ 687,762 $ 9,341 Home equity loans and lines of credit 66,662 66,810 20,124 67,997 1,229 Construction and land development 123,338 128,832 — 123,338 — Consumer 6,052 6,093 6,052 6,165 158 December 31, 2018 Recorded Unpaid Principal Related Average Recorded Interest Income Investment Balance Allowance Investment Recognized With no related allowance recorded: One-to four-family $ 585,047 $ 650,982 $ — $ 622,738 $ 22,214 Home equity loans and lines of credit 84,965 84,965 — 86,032 3,197 Nonresidential 484,223 872,655 — 847,383 26,452 With an allowance recorded: Home equity loans and lines of credit $ 45,830 $ 45,869 $ 2,089 $ 47,459 $ 2,743 Construction and land development 86,728 86,728 6,074 87,542 3,916 Total One-to four-family $ 585,047 $ 650,982 $ — $ 622,738 $ 22,214 Home equity loans and lines of credit 130,795 130,834 2,089 133,491 5,940 Construction and land development 86,728 86,728 6,074 87,542 3,916 Nonresidential 484,223 872,655 — 847,383 26,452
Summary of Troubled Debt Restructuring	A summary of TDRs at March 31, 2019 and December 31, 2018 are as follows: March 31, 2019 Number of Contracts Performing Nonperforming Total One-to four-family 1 $ — $ 120,380 $ 120,380 Home equity loans and lines of credit 1 44,315 — 44,315 Construction and land development — — — — Nonresidential — — — — Commercial — — — — Consumer — — — — 2 $ 44,315 $ 120,380 $ 164,695 December 31, 2018 Number of Contracts Performing Nonperforming Total One-to four-family 1 $ — $ 120,380 $ 120,380 Home equity loans and lines of credit 1 45,830 — 45,830 Construction and land development — — — — Nonresidential — — — — Commercial — — — — Consumer — — — — 2 $ 45,830 $ 120,380 $ 166,210

Foreclosed Real Estate (Tables)

Foreclosed Real Estate (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Changes in Foreclosed Real Estate	The following table summarizes changes in foreclosed real estate for the three months ended March 31, 2019 and 2018 and for the year ended December 31, 2018, which are measured on a nonrecurring basis using significant unobservable, Level 3, inputs: March 31, December 31, 2019 2018 2018 Balance, beginning of period $ 865,000 $ 865,000 $ 865,000 Transfer to foreclosed real estate — — — Proceeds from sale of foreclosed real estate — — — Gain (loss) on sale of foreclosed real estate — — — Write-down of foreclosed real estate — — — Balance, end of period $ 865,000 $ 865,000 $ 865,000

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Deposits	Deposits are summarized as follows: March 31, December 31, 2019 2018 Noninterest-bearing demand $ 18,400,153 $ 18,111,318 Interest-bearing demand 23,830,180 23,354,687 Money market 11,186,824 11,775,372 Savings 25,471,758 24,881,515 Certificates of deposit 75,503,848 75,627,343 Total deposits $ 154,392,763 $ 153,750,235
Schedule of Certificates of Deposit and Remaining Maturities	At March 31, 2019 and December 31, 2018, certificates of deposit and their remaining maturities were as follows: March 31, 2020 $ 29,874,690 2021 17,448,908 2022 13,063,739 2023 7,235,027 2024 7,881,484 $ 75,503,848 December 31, 2019 $ 31,554,160 2020 16,108,384 2021 12,350,296 2022 7,659,227 2023 7,955,276 $ 75,627,343

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Earnings Per Share	Three Months Ended March 31, 2019 Net income $ 272,023 Weighted average common shares outstanding 3,927,296 Earnings per common share, basic and diluted $ 0.07

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Actual and Required Capital Amounts and Ratios of the Bank	The actual and required capital amounts and ratios of the Bank as of March 31, 2019 and December 31, 2018 were as follows (dollars in thousands): Actual Minimum To Be Well Capitalized under Basel III Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of March 31, 2019: Common equity tier 1 capital (to risk-weighted assets) $ 40,223 29.48 % $ 8,870 >6.50 % $ 8,870 >6.50 % Total risk-based capital (to risk-weighted assets) 41,536 30.44 % 13,647 >10.0 % 13,647 >10.0 % Tier 1 capital (to risk-weighted assets) 40,223 29.48 % 10,917 > 8.0 % 10,917 >8.0 % Tier 1 capital (to average assets) 40,223 18.62 % 8,640 >4.0 % 10,800 >5.0 % As of December 31, 2018: Common equity tier 1 capital (to risk-weighted assets) $ 39,871 29.67 % $ 8,566 >6.375 % $ 8,734 > % Total risk-based capital (to risk-weighted assets) 41,094 30.58 % 13,269 >9.875 % 13,437 > % Tier 1 capital (to risk-weighted assets) 39,871 29.67 % 10,581 >7.875 % 10,749 ³8.0 % Tier 1 capital (to average assets) 39,871 18.45 % 8,643 >4.000 % 10,804 > %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Investment Securities Available for Sale	Fair value measurements on a recurring basis Securities available for sale – If quoted prices are available in an active market for identical assets, securities are classified within Level 1 of the hierarchy. If quoted market prices are not available, then fair values are estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and securities dare included within Level 2 of the hierarchy. As of March 31, 2019 and December 31, 2018 the Bank has categorized its investment securities available for sale as follows: Level 1 Level 2 Level 3 Total March 31, 2019 Securities available for sale: U.S. Government Agency and Federal Obligations $ — $ 21,312,605 $ — $ 21,312,605 Residential mortgage-backed securities 20,265,331 — 20,265,331 Municipal Securities — 1,511,490 — 1,511,490 December 31, 2018 Securities available for sale: U.S. Government Agency and Federal Obligations $ — $ 18,220,072 $ — $ 18,220,072 Residential mortgage-backed securities 17,744,986 — 17,744,986 Municipal Securities — 1,482,365 — 1,482,365
Schedule of Foreclosed Real Estate	The Bank has categorized its foreclosed real estate as Level 3. Level 1 Level 2 Level 3 Total March 31, 2019 Loans held for sale $ — $ 466,524 $ — $ 466,524 Impaired loans — — 1,291,195 1,291,195 Foreclosed real estate — — 865,000 865,000 December 31, 2018 Loans held for sale $ — $ 211,107 $ — $ 211,107 Impaired loans — — 1,278,630 1,278,630 Foreclosed real estate — — 865,000 865,000
Schedule of Financial Instruments Measured at Fair Value on Non-Recurring Basis	The following table presents quantitative information about Level 3 fair value measurements for selected financial instruments measured at fair value on a non-recurring basis at March 31, 2019 and December 31, 2018: Fair Value Value Technique(s) Unobservable Inputs Range or Rate Used March 31, 2019 Impaired loans $ 1,291,195 Appraised value Discount to reflect current market conditions 0.00 56.47 Discounted cash flows Discount rates 3.48 Foreclosed real estate $ 865,000 Appraised value Discount to reflect current market conditions 27.92 December 31, 2018 Impaired loans $ 1,278,630 Appraised value Discount to reflect current market conditions 0.00 7.00 Discounted cash flows Discount rates 4.55 Foreclosed real estate $ 865,000 Appraised value Discount to reflect current market conditions 27.92
Schedule of Estimated Fair Values of the Bank's Financial Instruments	The estimated fair values of the Bank’s financial instruments, whether carried at cost or fair value are as follows: Fair Value Measurements at March 31, 2019 Using Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 11,615 $ 11,615 $ — $ — $ 11,615 Time deposits in other banks 7,442 — 7,474 — 7,474 Securities available for sale 43,089 — 43,089 — 43,089 Federal Home Loan Bank stock 279 — 279 — 279 Loans held for sale 467 — 467 — 467 Loans, net (1) 144,900 — — 144,350 144,350 Foreclosed real estate 865 — — 865 865 Accrued interest receivable 763 — 763 — 763 Financial liabilities: Deposits 154,393 — 134,374 — 134,374 (1) Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion. Fair Value Measurements at December 31, 2018 Using Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 18,847 $ 18,847 $ — $ — $ 18,847 Time deposits in other banks 6,944 — 6,867 — 6,867 Securities available for sale 37,447 — 37,447 — 37,447 Federal Home Loan Bank stock 245 — 245 — 245 Loans held for sale 211 — 211 — 211 Loans, net (1) 142,320 — — 141,563 141,563 Foreclosed real estate 865 — — 865 865 Accrued interest receivable 696 — 696 — 696 Financial liabilities: Deposits 153,750 — 136,090 — 136,090 (2) Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion.

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail) - USD ($)	Sep. 27, 2018	Mar. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Repurchase par value of common stock, per share		$ 100
Federal Home Loan Bank stock, at cost		$ 279,100	$ 245,200
Loans, number of days in delinquency for interest accrual to discontinue		90 days
Deposits in other financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation ("FDIC")		$ 1,288,000	128,000
Balances in brokerage firms, insured		$ 500,000
Fixed Rate Residential Mortgage [Member] | Minimum
Summary Of Significant Accounting Policies [Line Items]
Loan, time period between issuance of loan commitment and closing and sale of the loan		30 days
Fixed Rate Residential Mortgage [Member] | Maximum
Summary Of Significant Accounting Policies [Line Items]
Loan, time period between issuance of loan commitment and closing and sale of the loan		90 days
CBM Bancorp, Inc. [Member]
Summary Of Significant Accounting Policies [Line Items]
Sale and issuance of common stock	4,232,000
Sale and issuance of common stock, per share	$ 10
Proceeds from sale and issuance of common stock	$ 40,900,000
Offering expenses	1,400,000
Proceeds from offerings	$ 20,500,000
Proceeds from offerings, Percent	50.00%
Percent of issued and outstanding common stock	100.00%
Number of shares sold under ESOP	338,560
Number of shares sold under ESOP, as percentage	8.00%
Other Liabilities
Summary Of Significant Accounting Policies [Line Items]
Bank owned life insurance ("BOLI")		$ 126,201	$ 129,775

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Range of Estimated Useful Lives for Premises and Equipment (Detail)	3 Months Ended
	Mar. 31, 2019
Buildings and land improvements [Member] | Minimum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	5 years
Buildings and land improvements [Member] | Maximum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	50 years
Leasehold Improvements | Minimum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	10 years
Leasehold Improvements | Maximum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	15 years
Furniture, fixtures and equipment [Member] | Minimum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	3 years
Furniture, fixtures and equipment [Member] | Maximum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	10 years
Automobiles | Maximum
Property, Plant and Equipment [Line Items]
Property Plant And Equipment	5 years

Securities - Amortized Cost and

Securities - Amortized Cost and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	$ 42,651,503	$ 37,408,496
Securities Available for Sale, Gross Unrealized Gains	486,674	157,687
Securities Available for Sale, Gross Unrealized Losses	48,751	118,760
Securities Available for Sale, Fair Value	43,089,426	37,447,423
U.S. Government Agency and Federal Obligations
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	21,252,762	18,264,805
Securities Available for Sale, Gross Unrealized Gains	107,809	45,850
Securities Available for Sale, Gross Unrealized Losses	47,966	90,583
Securities Available for Sale, Fair Value	21,312,605	18,220,072
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	19,893,086	17,637,729
Securities Available for Sale, Gross Unrealized Gains	372,446	111,837
Securities Available for Sale, Gross Unrealized Losses	201	4,580
Securities Available for Sale, Fair Value	20,265,331	17,744,986
Municipal Securities
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	1,505,655	1,505,962
Securities Available for Sale, Gross Unrealized Gains	6,419
Securities Available for Sale, Gross Unrealized Losses	584	23,597
Securities Available for Sale, Fair Value	$ 1,511,490	$ 1,482,365

Securities - Amortized Cost a_2

Securities - Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, Amortized Cost	$ 3,815,589	$ 1,000,000
Due after one year through five years, Amortized Cost	17,457,680	14,453,375
Due five years to ten years, Amortized Cost	1,485,148	4,317,392
Securities Available for Sale, Amortized Cost	42,651,503	37,408,496
Due in one year or less, Fair Value	3,819,158	989,119
Due after one year through five years, Fair Value	17,500,241	14,391,553
Due five years to ten years, Fair Value	1,504,696	4,321,765
Securities Available for Sale, Fair Value	43,089,426	37,447,423
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Securities Available for Sale, Amortized Cost	19,893,086	17,637,729
Securities Available for Sale, Fair Value	$ 20,265,331	$ 17,744,986

Securities - Securities with Gr

Securities - Securities with Gross Unrealized Losses (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Fair Value, Less than 12 Months	$ 215,394	$ 3,802,053
Gross Unrealized Losses, Less than 12 Months	201	4,643
Fair Value, 12 Months or Greater	5,453,327	5,890,918
Gross Unrealized Losses, 12 Months or Greater	48,550	114,117
Securities Available for Sale, Fair Value	5,668,721	9,692,971
Securities Available for Sale, Gross Unrealized Losses	48,751	118,760
U.S. Government and Federal Agency obligations
Marketable Securities [Line Items]
Fair Value, Less than 12 Months		963,945
Gross Unrealized Losses, Less than 12 Months		63
Fair Value, 12 Months or Greater	4,451,167	4,408,553
Gross Unrealized Losses, 12 Months or Greater	47,966	90,520
Securities Available for Sale, Fair Value	4,451,167	5,372,498
Securities Available for Sale, Gross Unrealized Losses	47,966	90,583
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Fair Value, Less than 12 Months	215,394	2,838,108
Gross Unrealized Losses, Less than 12 Months	201	4,580
Securities Available for Sale, Fair Value	215,394	2,838,108
Securities Available for Sale, Gross Unrealized Losses	201	4,580
Municipal Securities
Marketable Securities [Line Items]
Fair Value, 12 Months or Greater	1,002,160	1,482,365
Gross Unrealized Losses, 12 Months or Greater	584	23,597
Securities Available for Sale, Fair Value	1,002,160	1,482,365
Securities Available for Sale, Gross Unrealized Losses	$ 584	$ 23,597

Securities - Additional Informa

Securities - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Transfer of held to maturity securities to available for sale, at fair value	$ 56,276
Gross unrealized losses	48,751	$ 118,760
Securities pledged	0	$ 0
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Transfer of held to maturity securities to available for sale, at fair value	$ 2,923,932

Loans - Summary of Principal Lo

Loans - Summary of Principal Loan Portfolio Segment (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Lease and Investment Commitments [Line Items]
Total loans	$ 146,321,029	$ 143,662,017	$ 141,192,440
Net deferred loan origination fees and costs	(142,702)	(153,204)
Allowance for loan losses	(1,278,352)	(1,188,352)	$ (1,091,704)	$ (1,038,405)
Net loans	144,899,975	142,320,461
Real Estate Loan
Lease and Investment Commitments [Line Items]
Total loans	140,434,179	137,881,919
Real Estate Loan | One-to Four-Family
Lease and Investment Commitments [Line Items]
Total loans	70,401,955	70,197,875
Real Estate Loan | Home Equity Loans and Lines of Credit
Lease and Investment Commitments [Line Items]
Total loans	7,291,555	7,547,195
Real Estate Loan | Construction and Land Development
Lease and Investment Commitments [Line Items]
Total loans	9,831,129	8,232,067
Real Estate Loan | Nonresidential
Lease and Investment Commitments [Line Items]
Total loans	52,909,540	51,904,782
Other Loans
Lease and Investment Commitments [Line Items]
Total loans	5,886,850	5,780,098
Other Loans | Commercial
Lease and Investment Commitments [Line Items]
Total loans	5,390,814	5,250,815
Other Loans | Consumer
Lease and Investment Commitments [Line Items]
Total loans	$ 496,036	$ 529,283

Loans - Additional Information

Loans - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Lease and Investment Commitments [Line Items]
Total loans	$ 146,321,029	$ 143,662,017	$ 141,192,440
Overdraft Consumer Loan
Lease and Investment Commitments [Line Items]
Total loans	$ 4,644	$ 7,824

Credit Quality of Loans and t_3

Credit Quality of Loans and the Allowance for Loan Losses - Summary of Allowance for Loan Losses and Loans Receivable by Loan Portfolio Class and Impairment Method (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	$ 1,188,352	$ 1,038,405	$ 1,038,405
Charge-offs		(30,000)	(440,914)
Recoveries		8,299	15,861
Provision	90,000	75,000	575,000
Ending Balance	1,278,352	1,091,704	1,188,352
Ending balance: individually evaluated for impairment	68,740	85,328	8,163
Ending balance: collectively evaluated for impairment	1,209,612	1,006,376	1,180,189
Ending balance	146,321,029	141,192,440	143,662,017
Ending balance: individually evaluated for impairment	1,359,935	866,318	1,286,793
Ending balance: collectively evaluated for impairment	144,961,094	140,326,122	142,375,224
One-to-Four-Family
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	244,781	238,148	238,148
Charge-offs		(30,000)	(88,000)
Recoveries			7,562
Provision	61,263	51,071	87,071
Ending Balance	306,044	259,219	244,781
Ending balance: individually evaluated for impairment	61,125	59,152
Ending balance: collectively evaluated for impairment	244,919	200,067	244,781
Ending balance	70,401,955	69,628,606	70,197,875
Ending balance: individually evaluated for impairment	661,784	670,266	585,047
Ending balance: collectively evaluated for impairment	69,740,171	68,958,340	69,612,828
Home Equity Loans and Lines of Credit
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	68,837	83,129	83,129
Charge-offs			(12,013)
Provision	(7,115)	(8,518)	(2,279)
Ending Balance	61,722	74,611	68,837
Ending balance: individually evaluated for impairment	1,541	20,124	2,089
Ending balance: collectively evaluated for impairment	60,181	54,487	66,748
Ending balance	7,291,555	9,181,975	7,547,195
Ending balance: individually evaluated for impairment	127,200	66,662	130,795
Ending balance: collectively evaluated for impairment	7,164,355	9,115,313	7,416,400
Construction and Land Development
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	185,170	173,167	173,167
Recoveries		8,299	8,299
Provision	33,825	4,940	3,704
Ending Balance	218,995	186,406	185,170
Ending balance: individually evaluated for impairment	6,074		6,074
Ending balance: collectively evaluated for impairment	212,921	186,406	179,096
Ending balance	9,831,129	9,477,151	8,232,067
Ending balance: individually evaluated for impairment	86,728	123,338	86,728
Ending balance: collectively evaluated for impairment	9,744,401	9,353,813	8,145,339
Nonresidential
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	626,031	446,576	446,576
Charge-offs			(335,000)
Provision	5,068	34,805	514,455
Ending Balance	631,099	481,381	626,031
Ending balance: collectively evaluated for impairment	631,099	481,381	626,031
Ending balance	52,909,540	47,545,898	51,904,782
Ending balance: individually evaluated for impairment	484,223		484,223
Ending balance: collectively evaluated for impairment	52,425,317	47,545,898	51,420,559
Commercial
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	28,879	44,199	44,199
Provision	770	(17,675)	(15,320)
Ending Balance	29,649	26,524	28,879
Ending balance: collectively evaluated for impairment	29,649	26,524	28,879
Ending balance	5,390,814	4,822,632	5,250,815
Ending balance: collectively evaluated for impairment	5,390,814	4,822,632	5,250,815
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	6,669	15,933	15,933
Charge-offs			(5,901)
Provision	(369)	250	(3,363)
Ending Balance	6,300	16,183	6,669
Ending balance: individually evaluated for impairment		6,052
Ending balance: collectively evaluated for impairment	6,300	10,131	6,669
Ending balance	496,036	536,178	529,283
Ending balance: individually evaluated for impairment		6,052
Ending balance: collectively evaluated for impairment	496,036	530,126	529,283
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	27,985	37,253	37,253
Provision	(3,442)	10,127	(9,268)
Ending Balance	24,543	47,380	27,985
Ending balance: collectively evaluated for impairment	$ 24,543	$ 47,380	$ 27,985

Credit Quality of Loans and t_4

Credit Quality of Loans and the Allowance for Loan Losses - Summary of Loan Portfolio Quality Indicators by Loan Class Recorded Investment (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 146,321,029	$ 143,662,017	$ 141,192,440
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	142,592,256	139,874,599
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,532,775	2,546,455
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,195,998	1,240,963
One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total loans	70,401,955	70,197,875	69,628,606
One-to-Four-Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	69,740,171	69,499,216
One-to-Four-Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	82,817	113,612
One-to-Four-Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	578,967	585,047
Home Equity Loans and Lines of Credit
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,291,555	7,547,195	9,181,975
Home Equity Loans and Lines of Credit | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,208,670	7,462,230
Home Equity Loans and Lines of Credit | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	36,805
Home Equity Loans and Lines of Credit | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	46,080	84,965
Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total loans	9,831,129	8,232,067	9,477,151
Construction and Land Development | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	8,953,892	7,351,165
Construction and Land Development | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	790,509	794,174
Construction and Land Development | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	86,728	86,728
Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total loans	52,909,540	51,904,782	47,545,898
Nonresidential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	50,802,673	49,781,890
Nonresidential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,622,644	1,638,669
Nonresidential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	484,223	484,223
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,390,814	5,250,815	4,822,632
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,390,814	5,250,815
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total loans	496,036	529,283	$ 536,178
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 496,036	$ 529,283

Credit Quality of Loans and t_5

Credit Quality of Loans and the Allowance for Loan Losses - Summary of Loan Portfolio Delinquencies (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	$ 3,544,050	$ 1,257,763
Current Loans	142,776,979	142,404,254
Total Loans	146,321,029	143,662,017
Nonaccrual Loans	1,233,646	1,240,963
One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	567,964	602,968
Current Loans	69,833,991	69,594,907
Total Loans	70,401,955	70,197,875
Nonaccrual Loans	579,810	585,047
Home Equity Loans and Lines of Credit
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	46,080	83,611
Current Loans	7,245,475	7,463,584
Total Loans	7,291,555	7,547,195
Nonaccrual Loans	82,885	84,965
Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	877,237	86,728
Current Loans	8,953,892	8,145,339
Total Loans	9,831,129	8,232,067
Nonaccrual Loans	86,728	86,728
Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	2,052,632	484,223
Current Loans	50,856,908	51,420,559
Total Loans	52,909,540	51,904,782
Nonaccrual Loans	484,223	484,223
Commercial
Financing Receivable, Recorded Investment [Line Items]
Current Loans	5,390,814	5,250,815
Total Loans	5,390,814	5,250,815
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	137	233
Current Loans	495,899	529,050
Total Loans	496,036	529,283
Loans 30-59 Days Past Due
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	2,632,447	223,750
Loans 30-59 Days Past Due | One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	227,312	101,183
Loans 30-59 Days Past Due | Home Equity Loans and Lines of Credit
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	46,080	35,606
Loans 30-59 Days Past Due | Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	790,509	86,728
Loans 30-59 Days Past Due | Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	1,568,409
Loans 30-59 Days Past Due | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	137	233
Loans 60-89 Days Past Due
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans		158,134
Loans 60-89 Days Past Due | One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans		158,134
Loans 90 or More Days Past Due
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	911,603	875,879
Loans 90 or More Days Past Due | One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	340,652	343,651
Loans 90 or More Days Past Due | Home Equity Loans and Lines of Credit
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans		48,005
Loans 90 or More Days Past Due | Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	86,728
Loans 90 or More Days Past Due | Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	$ 484,223	$ 484,223

Credit Quality of Loans and t_6

Credit Quality of Loans and the Allowance for Loan Losses - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)LoansTDR	Dec. 31, 2018USD ($)LoansTDR
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans past due and still accruing interest period	90 days	90 days
Number of loans on non accrual of interest status | Loans	10	10
Financing receivable recorded investment non accrual status, forgone interest | $	$ 45,952	$ 36,054
Recorded investment 90 days and accruing interest | Loans	0	0
Number of TDR | TDR	2	2
Financing receivable modifications recorded investment | $	$ 164,695	$ 166,210

Credit Quality of Loans and t_7

Credit Quality of Loans and the Allowance for Loan Losses - Summary Of Impaired Loans (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Home Equity Loans and Lines of Credit
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 82,885		$ 84,965
Unpaid Principal Balance	82,885		84,965
Average Recorded Investment	83,925		86,032
Interest Income Recognized	1,934		3,197
Recorded Investment	44,315	$ 66,662	45,830
Unpaid Principal Balance	44,315	66,810	45,869
Related Allowance	1,541	20,124	2,089
Average Recorded Investment	45,073	67,997	47,459
Interest Income Recognized	875	1,229	2,743
Recorded Investment	127,200	66,662	130,795
Unpaid Principal Balance	127,200	66,810	130,834
Related Allowance	1,541	20,124	2,089
Average Recorded Investment	128,998	67,997	133,491
Interest Income Recognized	2,809	1,229	5,940
Nonresidential
Financing Receivable, Impaired [Line Items]
Recorded Investment	484,223		484,223
Unpaid Principal Balance	871,107		872,655
Average Recorded Investment	484,223		847,383
Interest Income Recognized			26,452
Recorded Investment	484,223		484,223
Unpaid Principal Balance	871,107		872,655
Average Recorded Investment	484,223		847,383
Interest Income Recognized			26,452
One-to-Four-Family
Financing Receivable, Impaired [Line Items]
Recorded Investment	459,430	490,473	585,047
Unpaid Principal Balance	463,756	501,540	650,982
Average Recorded Investment	462,049	507,550	622,738
Interest Income Recognized	5,301	7,425	22,214
Recorded Investment	202,354	179,793
Unpaid Principal Balance	263,605	183,958
Related Allowance	61,125	59,152
Average Recorded Investment	202,601	180,212
Interest Income Recognized	1,337	1,916
Recorded Investment	661,784	670,266	585,047
Unpaid Principal Balance	727,361	685,498	650,982
Related Allowance	61,125	59,152
Average Recorded Investment	664,650	687,762	622,738
Interest Income Recognized	6,638	9,341	22,214
Consumer
Financing Receivable, Impaired [Line Items]
Recorded Investment		6,052
Unpaid Principal Balance		6,093
Related Allowance		6,052
Average Recorded Investment		6,165
Interest Income Recognized		158
Recorded Investment		6,052
Unpaid Principal Balance		6,093
Related Allowance		6,052
Average Recorded Investment		6,165
Interest Income Recognized		158
Construction and Land Development
Financing Receivable, Impaired [Line Items]
Recorded Investment		123,338
Unpaid Principal Balance		128,832
Average Recorded Investment		123,338
Recorded Investment	86,728		86,728
Unpaid Principal Balance	86,728		86,728
Related Allowance	6,074		6,074
Average Recorded Investment	86,728		87,542
Interest Income Recognized			3,916
Recorded Investment	86,728	123,338	86,728
Unpaid Principal Balance	86,728	128,832	86,728
Related Allowance	6,074		6,074
Average Recorded Investment	$ 86,728	123,338	87,542
Interest Income Recognized		$ 0	$ 3,916

Credit Quality of Loans and t_8

Credit Quality of Loans and the Allowance for Loan Losses - Summary Of Troubled Debt Restructuring (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)TDR	Dec. 31, 2018USD ($)TDR
Financing Receivable, Modifications [Line Items]
Number of Contracts | TDR	2	2
Performing	$ 44,315	$ 45,830
Nonperforming	120,380	120,380
Total	$ 164,695	$ 166,210
One-to-Four-Family
Financing Receivable, Modifications [Line Items]
Number of Contracts | TDR	1	1
Nonperforming	$ 120,380	$ 120,380
Total	$ 120,380	$ 120,380
Home Equity Loans and Lines of Credit
Financing Receivable, Modifications [Line Items]
Number of Contracts | TDR	1	1
Performing	$ 44,315	$ 45,830
Total	$ 44,315	$ 45,830

Foreclosed Real Estate - Additi

Foreclosed Real Estate - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2019USD ($)Loans	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)Loans	Dec. 31, 2017USD ($)
Real Estate [Line Items]
Foreclosed real estate amount	$ 865,000	$ 865,000	$ 865,000	$ 865,000
Proceeds from disposal of foreclosed real estate	$ 0	$ 0	$ 0
Residential Real Estate
Real Estate [Line Items]
Number of loans in the process of foreclosure | Loans	2		2
Number of properties included in foreclosed real estate | Loans	0		0
Residential First Mortgage
Real Estate [Line Items]
Loan in process of foreclosure	$ 183,529		$ 184,228
Non Residential Mortgage Loan
Real Estate [Line Items]
Loan in process of foreclosure			$ 484,223
Number of loans in the process of foreclosure | Loans			1

Foreclosed Real Estate - Schedu

Foreclosed Real Estate - Schedule of Changes in Foreclosed Real Estate (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Real Estate [Line Items]
Balance, beginning of period	$ 865,000	$ 865,000	$ 865,000
Balance, end of period	$ 865,000	$ 865,000	$ 865,000

Deposits - Schedule of Deposits

Deposits - Schedule of Deposits (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Deposits [Line Items]
Noninterest-bearing demand	$ 18,400,153	$ 18,111,318
Interest-bearing demand	23,830,180	23,354,687
Money market	11,186,824	11,775,372
Savings	25,471,758	24,881,515
Certificates of deposit	75,503,848	75,627,343
Total deposits	$ 154,392,763	$ 153,750,235

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Deposit accounts, federally insured	$ 250,000
Time deposits with balances of $250,000 or more	11,645,957	$ 11,415,706
Deposit balances	154,392,763	153,750,235
Officers and Directors
Deposit balances	$ 944,211	$ 730,168

Deposits - Schedule of Certific

Deposits - Schedule of Certificates of Deposit and Remaining Maturities (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Schedule of Maturities of Time Deposits [Line Items]
Certificate of deposit, maturities in year 1	$ 29,874,690	$ 31,554,160
Certificate of deposit, maturities in year 2	17,448,908	16,108,384
Certificate of deposit, maturities in year 3	13,063,739	12,350,296
Certificate of deposit, maturities in year 4	7,235,027	7,659,227
Certificate of deposit, maturities in year 5	7,881,484	7,955,276
Certificate of deposit	$ 75,503,848	$ 75,627,343

Borrowings - Additional informa

Borrowings - Additional information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Federal Home Loan Bank, advances limit as percentage of total assets	25.00%
Federal Home Loan Bank, available amount	$ 53,900,000	$ 54,400,000
Federal home loan bank advances eligible amount to pledge as collateral	52,650,000	50,320,000
Federal Home Loan Bank, advances outstanding	0	0
Line of credit facility, maximum borrowing capacity	2,000,000	2,000,000
Line of credit outstanding	$ 0	$ 0

Employee Stock Ownership Plan -

Employee Stock Ownership Plan - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Common stock per share	$ 0.01		$ 0.01
ESOP compensation expense	$ 108,762
ESOP
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Stock issued during period purchased shares, ESOP	338,560
Common stock per share	$ 10
Employee stock ownership plan, loan period description	The Company's initial public offering at $10.00 per share with the proceeds of a ten (10) year loan from the Company.
Employee stock ownership plan, vesting period	3 years
Employee stock ownership plan, vesting percentage	100.00%
ESOP compensation expense	$ 108,762	$ 0
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares	304,704
Employee stock ownership plan (ESOP), number of suspense value	$ 3,945,917

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019shares
Dilutive potential common shares	0

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Earnings Per Share (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 272,023	$ 256,005
Weighted average common shares outstanding	3,927,296
Earnings per common share, basic and diluted	$ 0.07

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Schedule of Actual and Required Capital Amounts and Ratios of the Bank (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier 1 capital (to risk-weighted assets), actual amount	$ 40,223	$ 39,871
Total risk-based capital (to risk-weighted assets), actual amount	41,536	41,094
Tier 1 capital (to risk-weighted assets), actual amount	40,223	39,871
Tier 1 capital (to average assets), actual amount	$ 40,223	$ 39,871
Common equity tier 1 capital (to risk-weighted assets), actual ratio	29.48%	29.67%
Total risk-based capital (to risk-weighted assets), actual ratio	30.44%	30.58%
Tier 1 capital (to risk-weighted assets), actual ratio	29.48%	29.67%
Tier 1 capital (to average assets), actual ratio	18.62%	18.45%
Common equity tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	$ 8,870	$ 8,566
Total risk-based capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	13,647	13,269
Tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	10,917	10,581
Tier 1 capital (to average assets), minimum regulatory capital ratios under Basel III amount	$ 8,640	$ 8,643
Common equity tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	6.50%	6.375%
Total risk-based capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	10.00%	9.875%
Tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	8.00%	7.875%
Tier 1 capital (to average assets), minimum regulatory capital ratios under Basel III ratio	4.00%	4.00%
Common equity tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III	$ 8,870	$ 8,734
Total risk-based capital (to risk-weighted assets), to be well capitalized under Basel III	13,647	13,437
Tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III	10,917	10,749
Tier 1 capital (to average assets), to be well capitalized under Basel III	$ 10,800	$ 10,804
Common equity tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III ratio	6.50%	6.50%
Total risk-based capital (to risk-weighted assets), to be well capitalized under Basel III ratio	10.00%	10.00%
Tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III ratio	8.00%	8.00%
Tier 1 capital (to average assets), to be well capitalized under Basel III ratio	5.00%	5.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Investment Securities Available for Sale (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 43,089,426	$ 37,447,423
U.S. Government Agency and Federal Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	21,312,605	18,220,072
Residential Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	20,265,331	17,744,986
Fair Value Measurements on Recurring Basis | U.S. Government Agency and Federal Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	21,312,605	18,220,072
Fair Value Measurements on Recurring Basis | Residential Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	20,265,331	17,744,986
Fair Value Measurements on Recurring Basis | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,511,490	1,482,365
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	43,089,000	37,447,000
Level 2 | Fair Value Measurements on Recurring Basis | U.S. Government Agency and Federal Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	21,312,605	18,220,072
Level 2 | Fair Value Measurements on Recurring Basis | Residential Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	20,265,331	17,744,986
Level 2 | Fair Value Measurements on Recurring Basis | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 1,511,490	$ 1,482,365

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Fair value of loan balance	$ 1,359,935	$ 1,286,793	$ 866,318
Written down value of loan balance	68,740	8,163	85,328
Foreclosed real estate	$ 865,000	$ 865,000	$ 865,000	$ 865,000

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Foreclosed Real Estate (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 865,000	$ 865,000	$ 865,000	$ 865,000
Fair Value Measurements on Non-Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	466,524	211,107
Impaired loans	1,291,195	1,278,630
Foreclosed real estate	865,000	865,000
Level 2 | Fair Value Measurements on Non-Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	466,524	211,107
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	865,000	865,000
Level 3 | Fair Value Measurements on Non-Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,291,195	1,278,630
Foreclosed real estate	$ 865,000	$ 865,000

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Non-Recurring Basis (Detail)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 865,000	$ 865,000	$ 865,000	$ 865,000
Fair Value Measurements on Non-Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,291,195	1,278,630
Foreclosed real estate	$ 865,000	$ 865,000
Fair Value Measurements on Non-Recurring Basis | Measurement Input, Discount Rate | Appraised Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rates	0.2792	0.2792
Fair Value Measurements on Non-Recurring Basis | Measurement Input, Discount Rate | Discounted Cash Flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rates	0.0348	0.0455
Fair Value Measurements on Non-Recurring Basis | Minimum | Measurement Input, Discount Rate | Appraised Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rates	0	0
Fair Value Measurements on Non-Recurring Basis | Maximum | Measurement Input, Discount Rate | Appraised Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rates	0.5647	0.07

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Estimated Fair Values of the Bank's Financial Instruments (Detail) - USD ($)		Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Financial assets:
Cash and cash equivalents		$ 11,615,006	$ 18,846,760	$ 16,150,743	$ 12,030,272
Time deposits in other banks		7,441,752	6,944,000
Securities available for sale		43,089,426	37,447,423
Federal Home Loan Bank stock		279,100	245,200
Loans held for sale		466,524	211,107
Loans, net		144,899,975	142,320,461
Foreclosed real estate		865,000	865,000	$ 865,000	$ 865,000
Accrued interest receivable		762,658	695,928
Financial liabilities:
Deposits		154,392,763	153,750,235
Level 1
Financial assets:
Cash and cash equivalents		11,615,000	18,847,000
Level 2
Financial assets:
Time deposits in other banks		7,474,000	6,867,000
Securities available for sale		43,089,000	37,447,000
Federal Home Loan Bank stock		279,000	245,000
Loans held for sale		467,000	211,000
Accrued interest receivable		763,000	696,000
Financial liabilities:
Deposits		134,374,000	136,090,000
Level 3
Financial assets:
Loans, net	[1]	144,350,000	141,563,000
Foreclosed real estate		865,000	865,000
Carrying Value
Financial assets:
Cash and cash equivalents		11,615,000	18,847,000
Time deposits in other banks		7,442,000	6,944,000
Securities available for sale		43,089,000	37,447,000
Federal Home Loan Bank stock		279,000	245,000
Loans held for sale		467,000	211,000
Loans, net	[1]	144,900,000	142,320,000
Foreclosed real estate		865,000	865,000
Accrued interest receivable		763,000	696,000
Financial liabilities:
Deposits		154,393,000	153,750,000
Fair Value
Financial assets:
Cash and cash equivalents		11,615,000	18,847,000
Time deposits in other banks		7,474,000	6,867,000
Securities available for sale		43,089,000	37,447,000
Federal Home Loan Bank stock		279,000	245,000
Loans held for sale		467,000	211,000
Loans, net	[1]	144,350,000	141,563,000
Foreclosed real estate		865,000	865,000
Accrued interest receivable		763,000	696,000
Financial liabilities:
Deposits		$ 134,374,000	$ 136,090,000
[1]	Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion.