CBM Bancorp (CBMB) 10-K 27 Mar 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 24, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	CBM BANCORP, INC.
Entity Central Index Key	0001742089
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Address, State or Province	MD
Title of 12(b) Security	Common stock
Trading Symbol	CBMB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		3,873,242
Entity Public Float			$ 58,401,600
Entity Voluntary Filers	No
Document Annual Report	true

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 787,050	$ 1,071,335
Interest-bearing deposits in other banks	5,200,071	17,775,425
Cash and cash equivalents	5,987,121	18,846,760
Time deposits in other banks	7,935,811	6,944,000
Securities available for sale, at fair value	37,090,591	37,447,423
Federal Home Loan Bank stock, at cost	300,400	245,200
Loans held for sale	1,730,430	211,107
Loans, net of unearned fees	159,624,611	143,508,813
Allowance for loan losses	(1,379,150)	(1,188,352)
Net loans	158,245,461	142,320,461
Accrued interest receivable	655,146	695,928
Bank-owned life insurance	4,723,825	4,609,357
Premises and equipment, net	1,828,666	1,924,518
Foreclosed real estate	845,000	865,000
Deferred income taxes	724,658	900,994
Prepaid expenses and other assets	334,470	402,344
Total assets	220,401,579	215,413,092
Liabilities
Noninterest-bearing deposits	19,780,866	18,111,318
Interest-bearing deposits	136,660,007	135,638,917
Total deposits	156,440,873	153,750,235
Advances by borrowers for taxes and insurance	538,516	477,781
Federal Home Loan Bank advances	2,500,000
Accounts payable and other liabilities	986,814	838,301
Total liabilities	160,466,203	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 4,208,505 shares at December 31, 2019 and 4,232,000 shares at December 31, 2018	42,085	42,320
Additional paid in capital	41,210,056	40,987,146
Retained earnings	23,243,847	22,336,134
Employee Stock Ownership Plan	(2,708,480)	(3,047,040)
2019 Equity Incentive Plan	(2,357,994)
Accumulated other comprehensive income	505,862	28,215
Total stockholders' equity	59,935,376	60,346,775
Total liabilities and stockholders' equity	$ 220,401,579	$ 215,413,092

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Dec. 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	4,208,505	4,232,000
Common stock, outstanding	4,208,505	4,232,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest and dividend income
Interest and fees on loans	$ 7,292,886	$ 6,766,843
Interest and dividends on investments	1,746,375	935,486
Total interest income	9,039,261	7,702,329
Interest expense
Interest on deposits	1,401,673	977,826
Interest on borrowings	1,874
Total interest expense	1,403,547	977,826
Net interest income	7,635,714	6,724,503
Provision for loan losses	175,000	575,000
Net interest income after provision for loan losses	7,460,714	6,149,503
Non-interest income
Service fees on deposit accounts	128,732	133,650
Income from bank-owned life insurance	114,468	127,661
Gain on sale of loans held for sale	215,436	187,048
Other non-interest income	133,351	137,355
Total non-interest income	591,987	581,200
Non-interest expense
Salaries, director fees and employee benefits	4,216,292	3,682,363
Premises and equipment	429,783	443,844
Data processing	557,889	538,246
Professional fees	548,164	300,517
FDIC premiums and regulatory assessments	95,314	115,046
Marketing	108,574	117,623
Provision for losses and costs on foreclosed real estate	36,216	14,522
Other operating expenses	784,487	622,415
Total non-interest expense	6,776,719	5,834,576
Income before income taxes	1,275,982	896,127
Income tax expense	368,269	223,005
Net income	$ 907,713	$ 673,122
Earnings per common share
Basic	$ 0.23	$ 0.17
Diluted	$ 0.23	$ 0.17

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 907,713	$ 673,122
Other comprehensive income
Unrealized gain on investment securities available for sale	658,982	64,991
Transfer of held to maturity securities to available for sale, at fair value		56,276
Income tax expense relating to investment securities available for sale	(181,335)	(33,370)
Other comprehensive income	477,647	87,897
Total comprehensive income	$ 1,385,360	$ 761,019

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Unearned ESOP Shares	Unearned RSA Shares	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ 21,603,330			$ 21,653,191			$ (49,861)
Net income	673,122			673,122
Other comprehensive (loss) income	87,897						87,897
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from accumulated other comprehensive loss				9,821			(9,821)
Issuance of common stock	40,939,748	$ 42,320	$ 40,897,428
Stock purchased by the ESOP	(3,385,600)				$ (3,385,600)
ESOP shares committed to be released	428,278		89,718		338,560
Ending balance at Dec. 31, 2018	60,346,775	42,320	40,987,146	22,336,134	(3,047,040)		28,215
Net income	907,713			907,713
Other comprehensive (loss) income	477,647						477,647
ESOP shares committed to be released	462,134		123,574		338,560
Repurchase of common stock for 2019 Equity Incentive Plan	(2,357,994)					$ (2,357,994)
Stock based compensation	431,646		431,646
Repurchase of common stock	(332,545)	(235)	(332,310)
Ending balance at Dec. 31, 2019	$ 59,935,376	$ 42,085	$ 41,210,056	$ 23,243,847	$ (2,708,480)	$ (2,357,994)	$ 505,862

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 907,713	$ 673,122
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion of securities	26,812	(4,666)
Gain on sale of loans held for sale	(215,436)	(187,048)
Originations of loans held for sale	(10,385,957)	(7,314,627)
Proceeds from sales of loans held for sale	9,082,070	8,508,918
Amortization of net deferred loan origination fees	(267,817)	(87,810)
Provision for loan losses	175,000	575,000
Decrease (increase) in accrued interest receivable	40,782	(169,117)
Increase in cash surrender value of life insurance	(114,468)	(124,167)
Depreciation and amortization	158,898	163,432
Loss on disposal of premises and equipment	1,689	6,105
Loss on writedown of foreclosed real estate	20,000
ESOP compensation expense	462,134	428,278
Stock based compensation expense	431,646
Deferred income tax	(4,999)	147,437
Decrease (increase) in prepaid expenses and other assets	67,874	(12,727)
Increase (decrease) in accounts payable and other liabilities	148,513	(108,226)
Net cash provided by operating activities	534,454	2,493,904
Cash flows from investing activities:
Net purchases of time deposits in other banks	(991,811)	(1,984,000)
Proceeds from maturities, payments and calls of available for sale securities	18,610,391	1,377,632
Proceeds from maturities, payments and calls of held to maturity securities		480,094
Purchases of available for sale securities	(17,621,389)	(28,932,102)
Purchases of Federal Home Loan Bank stock	(55,200)	(3,100)
Net increase in loans	(15,832,183)	(3,760,585)
Proceeds from redemption of bank owned life insurance		882,278
Purchases of premises and equipment	(64,735)	(201,867)
Proceeds from sale of premises and equipment		34,750
Net cash used in investing activities	(15,954,927)	(32,106,900)
Cash flows from financing activities:
Net increase (decrease) in deposits	2,690,638	(1,036,169)
Net increase (decrease) in advances by borrowers	60,735	(88,495)
Net increase in borrowings	2,500,000
Proceeds from issuance of common stock		40,939,748
Purchase of ESOP shares		(3,385,600)
Repurchase of common stock for 2019 Equity Incentive Plan	(2,357,994)
Repurchase common stock	(332,545)
Net cash provided by financing activities	2,560,834	36,429,484
Net (decrease) increase in cash and cash equivalents	(12,859,639)	6,816,488
Cash and cash equivalents, beginning balance	18,846,760	12,030,272
Cash and cash equivalents, ending balance	5,987,121	18,846,760
Supplemental disclosure of cash flows information:
Cash paid for interest	1,403,270	977,805
Cash paid for income taxes	$ 190,000	38,800
Supplemental disclosure of noncash investing and financing activities:
Transfer of held to maturity securities to available for sale, at fair value		$ 2,923,932

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 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, its 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. 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 and interest-bearing 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 Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates 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, 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 non-interest 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 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 December 31, 2019 and 2018, $122,118 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 Leasehold improvements 10 15 Furniture, fixtures and equipment 3 10 Automobile 5 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. Stock-Based Compensation Compensation cost is recognized for stock options and restricted stock awards (“RSA”) issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for RSAs. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. 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 and ESOP shares committed to be released 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 In the ordinary course of business, the Bank has entered into off-balance 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 Concentrations of Credit Risk The Bank had approximately $0 and $128,000 in deposits in other financial institutions in excess of amounts insured by the FDIC, as of December 31, 2019 and 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. Emerging Growth Company The Company, as an emerging growth company (“EGC”), has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Recent Accounting Pronouncements ASU - Revenue from Contracts with Customers (Topic ). ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606) ASU 2016-02, ASU 2016-13, Financial Instruments – Credit Losses

Securities

Securities	12 Months Ended
	Dec. 31, 2019
Securities	Note 2. Securities The amortized cost and estimated fair value of securities classified as available for sale and held to maturity at December 31, 2019 and 2018, are as follows: December 31, 2019 Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities available for sale U.S. Government and Federal Agency obligations $ 9,472,370 $ 76,651 $ 4,679 $ 9,544,342 Residential mortgage-backed securities 25,415,647 638,856 43,964 26,010,539 Municipal securities 1,504,664 31,046 — 1,535,710 $ 36,392,681 $ 746,553 $ 48,643 $ 37,090,591 December 31, 2018 Amortized 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 December 31, 2019 and 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. December 31, 2019 Securities Available for Sale Amortized Fair Value Due in one year or less $ 1,000,000 $ 998,407 Due after one year through five years 9,474,467 9,560,135 Due five years to ten years 502,567 521,510 Due after ten years — — Mortgage-backed, in monthly installments 25,415,647 26,010,539 $ 36,392,681 $ 37,090,591 December 31, 2018 Securities Available for Sale Amortized 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 December 31, 2019 and 2018 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: December 31, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Gross Fair Value Gross Fair Value Gross Securities available for sale U.S. Government and Federal Agency obligations $ — $ — $ 1,995,321 $ 4,679 $ 1,995,321 $ 4,679 Residential mortgage-backed securities 4,862,213 43,964 — — 4,862,213 43,964 $ 4,862,213 $ 43,964 $ 1,995,321 $ 4,679 $ 6,857,534 $ 48,643 December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Gross Fair Value Gross Fair Value Gross 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 securities — — 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 December 31, 2019, the Bank held seven investments with gross unrealized losses totaling $48,643. 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 December 31, 2019 and 2018.

Loans

Loans	12 Months Ended
	Dec. 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 December 31, 2019 and 2018 were as follows: 2019 2018 Real estate loans One-to $ 74,655,376 $ 70,197,875 Home equity loans and lines of credit 7,488,348 7,547,195 Construction and land development 9,260,520 8,232,067 Nonresidential 61,012,514 51,904,782 Total real estate loans 152,416,758 137,881,919 Other loans Commercial 6,946,372 5,250,815 Consumer 522,566 529,283 Total other loans 7,468,938 5,780,098 Total loans 159,885,696 143,662,017 Net deferred loan origination fees and costs (261,085 ) (153,204 ) Allowance for loan losses (1,379,150 ) (1,188,352 ) Total loans, net $ 158,245,461 $ 142,320,461 Overdraft deposits are reclassified as consumer loans and are included in the total loans on the balance sheet. Overdrafts were $25,714 and $7,824 at December 31, 2019 and 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 debt-to-income non-conforming. • Home equity loans and lines of credit one-to • Construction and land development • Nonresidential real estate loans – non-owner Non-owner • Commercial loans • Consumer loans

Credit Quality of Loans and the

Credit Quality of Loans and the Allowance for Loan Losses	12 Months Ended
	Dec. 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 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 Loans are automatically placed on non-accrual non-accrual non-accrual charge-off The following tables summarize the activity in the allowance for losses for the years ended December 31, 2019 and 2018 and the distribution of the allowance for loan losses and loans receivable by loan portfolio class and impairment method as of December 31, 2019 and 2018. As of December 31, 2019 One –to Four-Family Home Equity Construction and Land Nonresidential Commercial Consumer Unallocated Total Beginning Balance $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Charge-offs (90,111 ) — (11,000 ) — — — — (101,111 ) Recoveries — 2,439 — 114,470 — — — 116,909 Provision 176,935 (8,673 ) 5,371 (57,048 ) 26,692 281 31,442 175,000 Ending Balance $ 331,605 $ 62,603 $ 179,541 $ 683,453 $ 55,571 $ 6,950 $ 59,427 $ 1,379,150 Ending balance: individually evaluated for impairment $ — $ 681 $ — $ — $ — $ — $ — $ 681 Ending balance: collectively evaluated for impairment $ 331,605 $ 61,922 $ 179,541 $ 683,453 $ 55,571 $ 6,950 $ 59,427 $ 1,378,469 Loans: Ending balance $ 74,655,376 $ 7,488,348 $ 9,260,520 $ 61,012,514 $ 6,946,372 $ 522,566 $ 159,885,696 Ending balance: individually evaluated for impairment $ 337,984 $ 116,721 $ 791,625 $ 1,581,818 $ — $ — $ 2,828,148 Ending balance: collectively evaluated for impairment $ 74,317,392 $ 7,371,627 $ 8,468,895 $ 59,430,696 $ 6,946,372 $ 522,566 $ 157,057,548 As of December 31, 2018 One –to Four-Family Home Equity Construction and Land 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 • Special mention • Substandard • Doubtful non-accrual • Loss charged-off 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 December 31, 2019 and 2018: December 31, 2019 One-to Four-Family Home Equity Loans and Lines of Credit Construction Nonresidential Grade: Pass $ 73,856,550 $ 7,412,069 $ 8,468,895 $ 59,430,696 Special Mention 460,842 — — — Substandard 337,984 76,279 791,625 1,581,818 Doubtful — — — — $ 74,655,376 $ 7,488,348 $ 9,260,520 $ 61,012,514 Commercial Consumer Totals Grade: Pass $ 6,946,372 $ 522,566 $ 156,637,148 Special Mention — — 460,842 Substandard — — 2,787,706 Doubtful — — — $ 6,946,372 $ 522,566 $ 159,885,696 December 31, 2018 One-to Four-Family Home Equity Loans and Lines of Credit Construction 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 December 31, 2019 and 2018: December 31, 2019 Loans 30-59 Days Loans 60-89 Days Loans 90 or More Days Past Due Total Past Current Loans Total Loans Recorded Nonaccrual Real estate loans: One-to $ 220,316 $ — $ 337,984 $ 558,300 $ 74,097,076 $ 74,655,376 $ — $ 337,984 Home equity loans and lines of credit 169,329 — 76,279 245,608 7,242,740 7,488,348 — 76,279 Construction and land development — — 75,728 75,728 9,184,792 9,260,520 — 75,728 Nonresidential — — — — 61,012,514 61,012,514 — — Other loans: Commercial 31,510 — — 31,510 6,914,862 6,946,372 — — Consumer 24,759 — — 24,759 497,807 522,566 — — Total loans $ 445,914 $ — $ 489,991 $ 935,905 $ 158,949,791 $ 159,885,696 $ — $ 489,991 December 31, 2018 Loans 30-59 Days Loans 60-89 Days Loans 90 or More Days Past Due Total Past Current Loans Total Loans Recorded Nonaccrual Real estate loans: One-to $ 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 December 31, 2019 and 2018 there were no seven non-accrual ten non-accrual 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 years ended December 31, 2019 and 2018: December 31, 2019 Recorded Unpaid Related Average Interest With no related allowance recorded: One-to $ 337,984 $ 342,345 $ — $ 342,907 $ 11,765 Home equity loans and lines of credit 76,279 76,279 — 82,117 2,727 Construction and land development 791,625 802,625 — 836,264 54,478 Nonresidential 1,581,818 1,581,818 — 1,609,744 61,141 With an allowance recorded: Home equity loans and lines of credit $ 40,442 $ 40,442 $ 681 $ 43,136 $ 2,964 Total One-to $ 337,984 $ 342,345 — $ 342,907 $ 11,765 Home equity loans and lines of credit 116,721 116,721 681 125,252 5,691 Construction and land development 791,625 802,625 — 836,264 54,478 Nonresidential 1,581,818 1,581,818 — 1,609,744 61,141 December 31, 2018 Recorded Unpaid Related Average Interest With no related allowance recorded: One-to $ 585,047 $ 650,982 $ — $ 655,706 $ 22,214 Home equity loans and lines of credit 84,965 84,965 — 86,032 3,197 Nonresidential 484,223 872,655 — 860,518 26,452 With an allowance recorded: Home equity loans and lines of credit $ 45,830 $ 45,869 $ 2,089 $ 47,479 $ 2,743 Construction and land development 86,728 86,728 6,074 87,542 3,916 Total One-to $ 585,047 $ 650,982 $ — $ 655,706 $ 22,214 Home equity loans and lines of credit 130,795 130,834 2,089 133,511 5,940 Construction and land development 86,728 86,728 6,074 87,542 3,916 Nonresidential 484,223 872,655 — 860,518 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 December 31, 2019 and 2018 are as follows: December 31, 2019 Number of Performing Nonperforming Total One-to — $ — $ — $ — Home equity loans and lines of credit 1 40,442 — 40,442 Construction and land development — — — — Nonresidential — — — — Commercial — — — — Consumer — — — — 1 $ 40,442 $ — $ 40,442 December 31, 2018 Number of Performing Nonperforming Total One-to 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 one two charged-off no 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.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2019
Premises and Equipment	Note 5. Premises and Equipment Premises and equipment at December 31, 2019 and 2018, were as follows: 2019 2018 Cost Land $ 619,926 $ 619,926 Buildings and land improvements 2,713,105 2,683,447 Leasehold improvements 157,819 147,429 Furniture, fixtures, and equipment 923,541 911,404 Total 4,414,391 4,362,206 Less: accumulated depreciation (2,585,725 ) (2,437,688 ) $ 1,828,666 $ 1,924,518 Depreciation expense totaled $158,898 and $163,432 for the years ended December 31, 2019 and 2018, respectively. The Bank has an operating lease for one Year Ending December 31, Payments 2020 31,590 2021 31,906 2022 32,226 $ 95,722 Total rent expense for leased property totaled $34,664 for each of the years ended December 31, 2019 and December 31, 2018.

Foreclosed Real Estate

Foreclosed Real Estate	12 Months Ended
	Dec. 31, 2019
Foreclosed Real Estate	Note 6. Foreclosed Real Estate At December 31, 2019 and 2018, the Bank had $845,000 and $865,000, respectively, in foreclosed real estate. The Bank did not dispose of any foreclosed real estate during the years ended December 31, 2019 and 2018. The following table summarizes changes in foreclosed real estate for the years ended December 31, 2019 and 2018, which are measured on a nonrecurring basis using significant unobservable, Level 3, inputs: 2019 2018 Balance, beginning of period $ 865,000 $ 865,000 Write-down of foreclosed real estate (20,000 ) — Balance, end of period $ 845,000 $ 865,000 At December 31, 2019 there were no two one no

Deposits

Deposits	12 Months Ended
	Dec. 31, 2019
Deposits	Note 7. Deposits Deposits as of December 31, 2019 and 2018 are summarized as follows: 2019 2018 Noninterest-bearing demand $ 19,780,866 $ 18,111,318 Interest-bearing demand 23,779,145 23,354,687 Money market 10,242,323 11,775,372 Savings 24,295,700 24,881,515 Certificates of deposit 78,342,839 75,627,343 Total deposits $ 156,440,873 $ 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 $14,113,578 and $11,415,706 at December 31, 2019 and 2018, respectively. At December 31, 2019, certificates of deposit and their remaining maturities were as follows: December 31, 2020 $ 27,378,762 2021 21,243,979 2022 14,240,137 2023 8,924,905 2024 6,555,056 $ 78,342,839 Deposit balances of officers and directors totaled $419,857 and $730,168 at December 31, 2019 and 2018, respectively.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2019
Borrowings	Note 8. Borrowings The Bank has advances outstanding from the Federal Home Loan Bank of Atlanta (“FHLB”). A schedule of borrowings is as follows: December 31, 2019 Advance Amount Rate Maturity Date $ 2,500,000 1.78 % 12/17/2020 The Bank has an agreement with the 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 December 31, 2019 and 2018, the Bank had total credit availability of approximately $55,100,000 and $54,400,000, respectively, and remaining credit availability of approximately $52,600,000 one-to The Bank also has a $2,000,000 unsecured federal funds line of credit available with another financial institution, for which no

Employee Stock Ownership Plan

Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2019
Employee Stock Ownership Plan	Note 9. 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 interest rate on the ESOP loan is fixed at 5.25%. 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. ESOP compensation 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 A summary of ESOP shares is as follows: 2019 2018 Shares allocated to employees 67,326 33,856 Unearned shares 270,848 304,704 Total ESOP shares 338,174 338,560 Fair value of unearned shares $ 3,824,374 $ 3,814,894

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Taxes	Note 10. Income Taxes The income tax provision reflected in the statements of income consisted of the following components for the years ended December 31, 2019 and 2018: 2019 2018 Income tax expense Current tax expense Federal $ 311,651 $ 75,568 State 61,617 — Total current 373,268 75,568 Deferred tax (benefit) expense Federal (31,896 ) 101,882 State 26,897 45,555 Total deferred (benefit) expense (4,999 ) 147,437 Total income tax expense $ 368,269 $ 223,005 A reconciliation of tax computed at the Federal statutory tax rate of 21% to the actual tax expense for the years ended December 31, 2019 and 2018, are as follows: 2019 2018 Tax at Federal statutory rate $ 267,956 $ 188,186 Tax effect of: Bank owned life insurance (25,646 ) (33,775 ) Nondeductible expenses 5,012 4,198 Stock-based compensation expense 44,921 18,841 State income taxes, net of federal benefit 76,026 45,555 Income tax expense $ 368,269 $ 223,005 A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2019 and 2018, are as follows: 2019 2018 Tax at Federal statutory rate 21.0 % 21.0 % Tax effect of: Bank owned life insurance (2.0 ) (3.8 ) Nondeductible expenses 0.4 0.5 Stock-based compensation expense 3.5 2.1 State income taxes, net of federal benefit 5.9 5.1 Income tax expense 28.8 % 24.9 % The components of the net deferred tax asset at December 31, 2019 and 2018, were as follows: 2019 2018 Deferred income tax assets: Deferred compensation $ 88,477 $ 90,243 2019 Equity Incentive Plan compensation 93,920 — Net operating loss carryforward — 36,796 Nonaccrual interest 4,932 9,921 Capitalized foreclosed asset expenses 318,856 416,302 Allowance for loan losses 423,536 364,153 929,721 917,415 Deferred income tax liabilities: Unrealized gain on securities 192,047 10,712 Accumulated depreciation 8,405 1,098 Federal Home Loan Bank stock dividends 4,611 4,611 205,063 16,421 Net deferred income tax asset $ 724,658 $ 900,994 The Company maintains $1,453,708 of its retained earnings as a reserve for loan losses for tax purposes. This amount has not been charged against earnings and is a restriction on retained earnings. If this balance in the reserve account is used for anything but losses on mortgage loans or payment of special assessment taxes, it will be subject to federal income taxes. The Company follows the FASB Accounting Standards Codification, which provides guidance on accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return, and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of December 31, 2019, the Company had no uncertain tax positions that qualify for either recognition or disclosure in the Company’s financial statements. The Company’s policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense in the financial statements. No interest and penalties were recorded during the period ended December, 31 2019. Generally, the tax years before 2016 are no longer subject to examination by federal, state or local taxing authorities.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2019
Benefit Plans	Note 11. Benefit Plans Deferred Compensation Arrangements The Bank has deferred compensation agreements with former directors and officers. Under the agreements, participants will be paid deferred compensation funded in part by the proceeds in excess of the cash surrender value of life insurance policies. The Bank recognizes the increase in cash surrender value of the insurance policies as income, which amounted to $114,468 and $124,167 during the years ended December 31, 2019 and 2018, respectively. The Bank’s index retirement benefit plan was converted to a supplemental retirement plan which pays equal annual installments to the plan participants upon retirement. Participants are entitled to receive their retirement benefits commencing thirty Supplemental Executive Retirement Plan The Bank has a Supplemental Executive Retirement Plan (“SERP”), which provides supplemental retirement benefits to the Chief Executive Officer of the Bank. The SERP provides for annual payments of $30,000 for ten Total deferred compensation expense recognized during the years ended December 31, 2019 and 2018 was $47,951 and $44,127, respectively. Defined Contribution Retirement Plan The Bank established a 401(k) plan covering substantially all of its employees. In order to participate, employees must be 18 years of age and have completed one one-to-one

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2019
Stock Based Compensation	Note 12. Stock Based Compensation On May 14, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (“2019 Plan”), which was approved at the Annual Meeting of Stockholders. The 2019 Plan allows for up to 169,280 shares to be issued to employees, executive officers or Directors in the form of restricted stock, and up to 423,200 shares to be issued to employees, executive officers or Directors in the form of stock options. At December 31, 2019, there were 161,320 restricted stock awards granted and 368,300 stock option awards granted under the 2019 Plan. Restricted Stock Award The specific terms of each restricted stock award are determined by the Compensation Committee at the date of the grant. Compensation expense is recognized over the vesting period of the awards based on the fair value of the stock at the date of the grant. Participants will vest in their share awards at a rate of 20% per year over a five year period, beginning one year after the date of the plan share award. If service to the Company is terminated for any reason other than death, disability or change in control, the unvested share awards will be forfeited. The 2019 Equity Incentive Plan Trust (“Trust”) has been established to acquire, hold, administer, invest and make distributions from the Trust in accordance with provisions of the Plan and Trust. The Company contributed sufficient funds to the Trust for the Trust to acquire 169,280 shares of common stock which are non-employee non-employee The following table presents a summary of the activity in the Company’s restricted stock for the year ended December 31, 2019: Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2019 — $ — Granted 161,320 13.40 Vested — — Forfeited — — Nonvested at December 31, 2019 161,320 $ 13.40 Fair value of vested shares $ — The following table outlines the vesting schedule of the nonvested restricted stock awards as of December 31, 2019: Year Ending December 31, Number of Restricted Shares 2020 32,264 2021 32,264 2022 32,264 2023 32,264 2024 32,264 161,320 The Company recorded compensation expense related to restricted stock awards of $274,801 during the year ended December 31, 2019. No compensation expense was recorded for the year ended December 31, 2018. As of December 31, 2019, there was $1,886,887 of total unrecognized compensation expense related to nonvested shares granted under the 2019 Plan. The cost is expected to be recognized over a weighted average period of 4.4 years. Stock Options Under the above 2019 Plan, stock options are granted to provide the Company’s directors and key employees with a proprietary interest in the Company as an as incentive to contribute to its success. The Board of Directors of the Company may grant options to eligible employees and non-employee The fair value of options granted to date was determined using the following assumptions as of the grant date. Expected Stock Price Volatility 17.08 % Expected Dividend Yield 0.00 % Expected Term (In Years) 7.0 Risk-Free Rate 2.30 % Fair Value of Options Granted $ 3.35 The following table summarizes the Company’s stock option activity and related information for the year ended December 31, 2019: Shares Weighted Exercise Price Weighted Average Remaining Contractual Outstanding at January 1, 2019 — $ — Granted 368,300 13.40 9.4 Vested — — Forfeited — — Outstanding at December 31, 2019 368,300 $ 13.40 9.4 Fair value of vested shares $ — The Company recorded compensation expense related to stock options of $156,845 during the year ended December 31, 2019. No compensation expense was recorded for the year ended December 31, 2018. As of December 31, 2019 there was $1,076,960 of total unrecognized compensation expense related to nonvested stock options granted under the plan. The cost is expected to be recognized over a weighted average period of 4.4 years. The intrinsic value of a stock option is the amount that the market value of the underlying stock exceeds the exercise price of the option. Based upon a fair market value of $14.12 at December 31, 2019, the options outstanding had an intrinsic value of $265,176.

Stock Repurchases

Stock Repurchases	12 Months Ended
	Dec. 31, 2019
Stock Repurchases	Note 13. Stock Repurchases On May 14, 2019, the Board of Directors authorized the repurchase of up to 169,280 shares of the Company’s outstanding common stock for the Trust in accordance with the 2019 Equity Incentive Plan disclosed in Note 12. The repurchase program was equal to the number of restricted stock awards eligible to be granted in the 2019 Plan. The following table sets forth information in connection with repurchases of the Company’s shares of common stock for the 2019 Plan during the periods listed. Period Total Number Average Price Total Number of Maximum Number of Shares That May May 14 – 31, 2019 2,822 $ 13.69 2,822 166,458 June 1 – 30, 2019 33,135 13.85 35,957 133,323 August 1 – 31, 2019 30,000 13.69 65,957 103,323 September 1 – 30, 2019 36,000 13.92 101,957 67,323 October 1 – 31, 2019 67,323 14.09 169,280 — On December 2, 2019, the Board of Directors authorized a plan to repurchase up to $6,000,000 of the Company’s outstanding common stock. The repurchases will be made during a one-year The following table sets forth information in connection with repurchases of the Company’s shares of common stock during the period listed. Period Total Number Average Price Total Value of Shares Purchased as Maximum Value of December 2 – 31, 2019 23,495 $ 14.15 $ 332,545 $ 5,667,455 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. Basic earnings per share excludes dilution and is computed by dividing net income by weighted average number of common shares outstanding during the period. Dilutive earnings per share reflects the potential dilution that could occur if stock options were exercised and is computed by dividing net income by the dilutive weighted average number of common shares outstanding during the period. Year Ended December 31, 2019 2018 Net income $ 907,713 $ 673,122 Weighted average common shares outstanding, basic 3,942,698 3,893,793 Weighted average common shares outstanding, dilutive 3,949,443 3,893,793 Earnings per common share, basic and diluted $ 0.23 0.17

Regulatory Capital Requirements

Regulatory Capital Requirements	12 Months Ended
	Dec. 31, 2019
Regulatory Capital Requirements	Note 15. 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. 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 December 31, 2019 and 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 December 31, 2019 and 2018 were as follows (dollars in thousands): Actual Minimum Regulatory To Be Well Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of December 31, 2019: Common equity tier 1 capital $ 41,635 27.74 % $ 9,569 ³ 6.375 % $ 9,757 ³ 6.5 % Total risk-based capital 43,054 28.68 % 14,823 ³ 9.875 % 15,010 ³ 10.0 % Tier 1 capital (to risk-weighted assets) 41,635 27.74 % 11,821 ³ 7.875 % 12,008 ³ 8.0 % Tier 1 capital (to average assets) 41,635 19.08 % 8,731 ³ 4.000 % 10,913 ³ 5.0 % As of December 31, 2018: Common equity tier 1 capital $ 39,871 29.67 % $ 8,566 ³ 6.375 % $ 8,734 ³ 6.5 % Total risk-based capital 41,094 30.58 % 13,269 ³ 9.875 % 13,437 ³ 10.0 % Tier 1 capital (to risk-weighted assets) 39,871 29.67 % 10,581 ³ 7.875 % 10,749 ³ 8.0 % Tier 1 capital (to average assets) 39,871 18.45 % 8,643 ³ 4.000 % 10,804 ³ 5.0 %

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Fair Value Measurements	Note 16. 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 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 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 Level 2 Level 3 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 Level 1 Level 2 Level 3 Total December 31, 2019 Securities available for sale: U.S. Government Agency and Federal obligations $ — $ 9,544,342 $ — $ 9,544,342 Residential mortgage-backed securities — 26,010,539 — 26,010,539 Municipal securities — 1,535,710 — 1,535,710 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 Impaired loans Foreclosed real estate Level 1 Level 2 Level 3 Total December 31, 2019 Impaired loans $ — $ — $ 2,827,431 $ 2,827,431 Foreclosed real estate — — 845,000 845,000 December 31, 2018 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 Fair Value Value Technique(s) Unobservable Inputs Range or Rate December 31, 2019 Impaired loans $ 2,827,431 Appraised value Discount to reflect current market conditions 0.00 % Discounted cash flows Discount rates 1.68 % Foreclosed real estate $ 845,000 Appraised value Discount to reflect current market conditions 10.11 % 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 December 31, 2019 Using Carrying Value Quoted (Level 1) Significant (Level 2) Significant (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 5,987 $ 5,987 $ — $ — $ 5,987 Time deposits in other banks 7,936 — 8,127 — 8,127 Securities available for sale 37,091 — 37,091 — 37,091 Federal Home Loan Bank stock 300 — 300 — 300 Loans held for sale 1,730 — 1,823 — 1,823 Loans, net (1) 158,245 — — 161,954 161,954 Foreclosed real estate 845 — — 845 845 Accrued interest receivable 655 — 655 — 655 Financial liabilities: Deposits 156,441 — 145,617 — 145,617 Borrowings 2,500 2,550 2,550 (1) Carrying amount is net of unearned income and the allowance for loan losses. Fair Value Measurements at December 31, 2018 Using Carrying Value Quoted (Level 1) Significant (Level 2) Significant (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 (1) Carrying amount is net of unearned income and the allowance for loan losses.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies	Note 17. Commitments and Contingencies The Bank is required to maintain certain average reserve balances as established by the Federal Reserve Bank. The amounts of this reserve balance for the reserve computation period which was satisfied through the restriction of vault cash held at the Bank’s branches. No additional reserves were required to be maintained at the Federal Reserve Bank of Richmond. The Bank is party to financial instruments with off-balance 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 on-balance off-balance The commitment to originate loans is an agreement to lend to a customer provided there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates and may require the payment of a fee. The Bank expects that a large majority of its commitments will be fulfilled subsequent to the balance sheet date and therefore, represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case Loan commitments representing off-balance December 31, 2019 2018 Commitments to extend credit Residential construction $ 11,893,781 $ 5,921,768 Residential real estate 500,000 130,000 Commercial real estate and other construction 2,834,834 2,146,083 Commitments under available lines of credit Home equity lines of credit 5,301,358 5,519,605 Commercial lines of credit 2,475,839 810,318 Consumer lines of credit 876,623 1,026,057 Letters of credit 491,432 583,604 $ 24,373,867 $ 16,137,435 In the normal course of business, the Bank sells loans in the secondary market. As is customary in such sales, the Bank provides indemnification to the buyer under certain circumstances. This indemnification may include the obligation to repurchase loans or refund fees by the Bank, under certain circumstances. In most cases, repurchases and losses are rare, and no provision is made for losses at the time of the sale. When repurchases and losses are probable and reasonably estimable, a provision is made in the financial statements for such estimated losses. There was no

Condensed Parent Company Only F

Condensed Parent Company Only Financial Information	12 Months Ended
	Dec. 31, 2019
Condensed Parent Company Only Financial Information	Note 18. Condensed Parent Company Only Financial Information Presented below are the condensed statements of financial condition as of December 31, 2019 and 2018, and related condensed statements of operations and condensed statements of cash flows for CBM Bancorp, Inc. for the years ended December 31, 2019 and 2018. Condensed December 31, 2019 December 31, 2018 Assets Cash in bank subsidiary $ 15,034,833 $ 17,364,534 ESOP loan receivable 2,708,480 3,047,040 Investment in bank subsidiary 42,140,741 39,930,627 Other assets 57,454 10,074 Total assets $ 59,941,508 $ 60,352,275 Liabilities and Stockholders’ Equity Liabilities Other liabilities $ 6,132 $ 5,500 Total liabilities 6,132 $ 5,500 Stockholders’ Equity Common stock 42,085 42,320 Additional paid in capital 41,210,056 40,987,146 Retained earnings 23,243,847 22,336,134 Unearned common stock held by: Employee Stock Ownership Plan (2,708,480 ) (3,047,040 ) 2019 Equity Incentive Plan (2,357,994 ) — Accumulated other comprehensive income 505,862 28,215 Total stockholders’ equity 59,935,376 60,346,775 Total liabilities and stockholders’ equity $ 59,941,508 $ 60,352,275 Condensed For the Years Ended December 31, 2019 2018 Interest income Income on ESOP loan $ 159,970 $ 46,262 Interest on bank deposits 271,425 73,173 Total interest income 431,395 119,435 Non-interest Professional fees 233,774 29,200 Other operating expenses 102,388 120,109 Total non-interest 336,162 149,309 Net income (loss) before tax expense (benefit) 95,233 (29,874 ) Income tax expense (benefit) 26,206 6,274 Income (loss) before equity in undistributed earnings of Bank 69,027 (23,600 ) Equity in undistributed earnings of Bank 838,686 696,722 Net income $ 907,713 $ 673,122 Condensed S For the Years Ended December 31, 2019 2018 Cash flows from operating activities: Net income $ 907,713 $ 673,122 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed net income of Bank (838,686 ) (696,722 ) Increase in other assets (47,381 ) (10,074 ) Increase in other liabilities 632 5,500 Net cash provided by (used in) operating activities 22,278 (28,174 ) Cash flows from investing activities: Capital injection into Bank from stock offering — (20,500,000 ) Principal collected on ESOP loan 338,560 338,560 Net cash provided by (used in) investing activities 338,560 (20,161,440 ) Cash flows from financing activities: Proceeds from issuance of common stock — 40,939,748 Purchase of ESOP shares — (3,385,600 ) Repurchase of common stock for 2019 Equity Incentive Plan (2,357,994 ) — Repurchase of common stock (332,545 ) — Net cash (used in) provided by financing activities (2,690,539 ) 37,554,148 Net (decrease) increase in cash and cash equivalents (2,329,701 ) 17,364,534 Cash and cash equivalents, beginning balance 17,364,534 — Cash and cash equivalents, ending balance $ 15,034,833 $ 17,364,534

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	Note 19. Subsequent Event Our business is dependent upon the ability and willingness of our customers to conduct banking and other financial transactions. The spread of a highly infectious or contagious disease, such as COVID-19, could cause severe disruptions in the United States economy, which could in turn disrupt the business, activities, and operations of our customers, as well as our business and operations. Although we maintain contingency plans for pandemic outbreaks, a spread of COVID-19, or an outbreak of another contagious disease, could also negatively impact the availability of key personnel necessary to conduct our business activities. Such a spread or outbreak could also negatively impact the business and operations of third-party service providers who perform critical services for us. If COVID-19, or another highly infectious or contagious disease, spreads or the response to contain COVID-19 is unsuccessful, we could experience a material adverse effect to our business, financial condition and results of operations.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 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, its 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.
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 and interest-bearing deposits in other banks.
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 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,
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 non-interest 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 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 December 31, 2019 and 2018, $122,118 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 Leasehold improvements 10 15 Furniture, fixtures and equipment 3 10 Automobile 5
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.
Stock-Based Compensation	Stock-Based Compensation Compensation cost is recognized for stock options and restricted stock awards (“RSA”) issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for RSAs. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award.
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 and ESOP shares committed to be released 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 In the ordinary course of business, the Bank has entered into off-balance 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
Concentrations of Credit Risk	Concentrations of Credit Risk The Bank had approximately $0 and $128,000 in deposits in other financial institutions in excess of amounts insured by the FDIC, as of December 31, 2019 and 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.
EmergingGrowthCompany	Emerging Growth Company The Company, as an emerging growth company (“EGC”), has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU - Revenue from Contracts with Customers (Topic ). ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606) ASU 2016-02, ASU 2016-13, Financial Instruments – Credit Losses

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 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 Leasehold improvements 10 15 Furniture, fixtures and equipment 3 10 Automobile 5

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 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 and held to maturity at December 31, 2019 and 2018, are as follows: December 31, 2019 Amortized Gross Unrealized Gains Gross Unrealized Losses Fair Securities available for sale U.S. Government and Federal Agency obligations $ 9,472,370 $ 76,651 $ 4,679 $ 9,544,342 Residential mortgage-backed securities 25,415,647 638,856 43,964 26,010,539 Municipal securities 1,504,664 31,046 — 1,535,710 $ 36,392,681 $ 746,553 $ 48,643 $ 37,090,591 December 31, 2018 Amortized 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 December 31, 2019 and 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. December 31, 2019 Securities Available for Sale Amortized Fair Value Due in one year or less $ 1,000,000 $ 998,407 Due after one year through five years 9,474,467 9,560,135 Due five years to ten years 502,567 521,510 Due after ten years — — Mortgage-backed, in monthly installments 25,415,647 26,010,539 $ 36,392,681 $ 37,090,591 December 31, 2018 Securities Available for Sale Amortized 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 December 31, 2019 and 2018 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: December 31, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Gross Fair Value Gross Fair Value Gross Securities available for sale U.S. Government and Federal Agency obligations $ — $ — $ 1,995,321 $ 4,679 $ 1,995,321 $ 4,679 Residential mortgage-backed securities 4,862,213 43,964 — — 4,862,213 43,964 $ 4,862,213 $ 43,964 $ 1,995,321 $ 4,679 $ 6,857,534 $ 48,643 December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Gross Fair Value Gross Fair Value Gross 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 securities — — 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)	12 Months Ended
	Dec. 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 December 31, 2019 and 2018 were as follows: 2019 2018 Real estate loans One-to $ 74,655,376 $ 70,197,875 Home equity loans and lines of credit 7,488,348 7,547,195 Construction and land development 9,260,520 8,232,067 Nonresidential 61,012,514 51,904,782 Total real estate loans 152,416,758 137,881,919 Other loans Commercial 6,946,372 5,250,815 Consumer 522,566 529,283 Total other loans 7,468,938 5,780,098 Total loans 159,885,696 143,662,017 Net deferred loan origination fees and costs (261,085 ) (153,204 ) Allowance for loan losses (1,379,150 ) (1,188,352 ) Total loans, net $ 158,245,461 $ 142,320,461

Credit Quality of Loans and t_2

Credit Quality of Loans and the Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 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 years ended December 31, 2019 and 2018 and the distribution of the allowance for loan losses and loans receivable by loan portfolio class and impairment method as of December 31, 2019 and 2018. As of December 31, 2019 One –to Four-Family Home Equity Construction and Land Nonresidential Commercial Consumer Unallocated Total Beginning Balance $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Charge-offs (90,111 ) — (11,000 ) — — — — (101,111 ) Recoveries — 2,439 — 114,470 — — — 116,909 Provision 176,935 (8,673 ) 5,371 (57,048 ) 26,692 281 31,442 175,000 Ending Balance $ 331,605 $ 62,603 $ 179,541 $ 683,453 $ 55,571 $ 6,950 $ 59,427 $ 1,379,150 Ending balance: individually evaluated for impairment $ — $ 681 $ — $ — $ — $ — $ — $ 681 Ending balance: collectively evaluated for impairment $ 331,605 $ 61,922 $ 179,541 $ 683,453 $ 55,571 $ 6,950 $ 59,427 $ 1,378,469 Loans: Ending balance $ 74,655,376 $ 7,488,348 $ 9,260,520 $ 61,012,514 $ 6,946,372 $ 522,566 $ 159,885,696 Ending balance: individually evaluated for impairment $ 337,984 $ 116,721 $ 791,625 $ 1,581,818 $ — $ — $ 2,828,148 Ending balance: collectively evaluated for impairment $ 74,317,392 $ 7,371,627 $ 8,468,895 $ 59,430,696 $ 6,946,372 $ 522,566 $ 157,057,548 As of December 31, 2018 One –to Four-Family Home Equity Construction and Land 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 December 31, 2019 and 2018: December 31, 2019 One-to Four-Family Home Equity Loans and Lines of Credit Construction Nonresidential Grade: Pass $ 73,856,550 $ 7,412,069 $ 8,468,895 $ 59,430,696 Special Mention 460,842 — — — Substandard 337,984 76,279 791,625 1,581,818 Doubtful — — — — $ 74,655,376 $ 7,488,348 $ 9,260,520 $ 61,012,514 Commercial Consumer Totals Grade: Pass $ 6,946,372 $ 522,566 $ 156,637,148 Special Mention — — 460,842 Substandard — — 2,787,706 Doubtful — — — $ 6,946,372 $ 522,566 $ 159,885,696 December 31, 2018 One-to Four-Family Home Equity Loans and Lines of Credit Construction 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 December 31, 2019 and 2018: December 31, 2019 Loans 30-59 Days Loans 60-89 Days Loans 90 or More Days Past Due Total Past Current Loans Total Loans Recorded Nonaccrual Real estate loans: One-to $ 220,316 $ — $ 337,984 $ 558,300 $ 74,097,076 $ 74,655,376 $ — $ 337,984 Home equity loans and lines of credit 169,329 — 76,279 245,608 7,242,740 7,488,348 — 76,279 Construction and land development — — 75,728 75,728 9,184,792 9,260,520 — 75,728 Nonresidential — — — — 61,012,514 61,012,514 — — Other loans: Commercial 31,510 — — 31,510 6,914,862 6,946,372 — — Consumer 24,759 — — 24,759 497,807 522,566 — — Total loans $ 445,914 $ — $ 489,991 $ 935,905 $ 158,949,791 $ 159,885,696 $ — $ 489,991 December 31, 2018 Loans 30-59 Days Loans 60-89 Days Loans 90 or More Days Past Due Total Past Current Loans Total Loans Recorded Nonaccrual Real estate loans: One-to $ 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 years ended December 31, 2019 and 2018: December 31, 2019 Recorded Unpaid Related Average Interest With no related allowance recorded: One-to $ 337,984 $ 342,345 $ — $ 342,907 $ 11,765 Home equity loans and lines of credit 76,279 76,279 — 82,117 2,727 Construction and land development 791,625 802,625 — 836,264 54,478 Nonresidential 1,581,818 1,581,818 — 1,609,744 61,141 With an allowance recorded: Home equity loans and lines of credit $ 40,442 $ 40,442 $ 681 $ 43,136 $ 2,964 Total One-to $ 337,984 $ 342,345 — $ 342,907 $ 11,765 Home equity loans and lines of credit 116,721 116,721 681 125,252 5,691 Construction and land development 791,625 802,625 — 836,264 54,478 Nonresidential 1,581,818 1,581,818 — 1,609,744 61,141 December 31, 2018 Recorded Unpaid Related Average Interest With no related allowance recorded: One-to $ 585,047 $ 650,982 $ — $ 655,706 $ 22,214 Home equity loans and lines of credit 84,965 84,965 — 86,032 3,197 Nonresidential 484,223 872,655 — 860,518 26,452 With an allowance recorded: Home equity loans and lines of credit $ 45,830 $ 45,869 $ 2,089 $ 47,479 $ 2,743 Construction and land development 86,728 86,728 6,074 87,542 3,916 Total One-to $ 585,047 $ 650,982 $ — $ 655,706 $ 22,214 Home equity loans and lines of credit 130,795 130,834 2,089 133,511 5,940 Construction and land development 86,728 86,728 6,074 87,542 3,916 Nonresidential 484,223 872,655 — 860,518 26,452
Summary of Troubled Debt Restructuring	A summary of TDRs at December 31, 2019 and 2018 are as follows: December 31, 2019 Number of Performing Nonperforming Total One-to — $ — $ — $ — Home equity loans and lines of credit 1 40,442 — 40,442 Construction and land development — — — — Nonresidential — — — — Commercial — — — — Consumer — — — — 1 $ 40,442 $ — $ 40,442 December 31, 2018 Number of Performing Nonperforming Total One-to 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

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of Premises and Equipment	Premises and equipment at December 31, 2019 and 2018, were as follows: 2019 2018 Cost Land $ 619,926 $ 619,926 Buildings and land improvements 2,713,105 2,683,447 Leasehold improvements 157,819 147,429 Furniture, fixtures, and equipment 923,541 911,404 Total 4,414,391 4,362,206 Less: accumulated depreciation (2,585,725 ) (2,437,688 ) $ 1,828,666 $ 1,924,518
Summary of Minimum Annual Lease Payments	Minimum annual lease payments are as follows: Year Ending December 31, Payments 2020 31,590 2021 31,906 2022 32,226 $ 95,722

Foreclosed Real Estate (Tables)

Foreclosed Real Estate (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Changes in Foreclosed Real Estate	The following table summarizes changes in foreclosed real estate for the years ended December 31, 2019 and 2018, which are measured on a nonrecurring basis using significant unobservable, Level 3, inputs: 2019 2018 Balance, beginning of period $ 865,000 $ 865,000 Write-down of foreclosed real estate (20,000 ) — Balance, end of period $ 845,000 $ 865,000

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Deposits	Deposits as of December 31, 2019 and 2018 are summarized as follows: 2019 2018 Noninterest-bearing demand $ 19,780,866 $ 18,111,318 Interest-bearing demand 23,779,145 23,354,687 Money market 10,242,323 11,775,372 Savings 24,295,700 24,881,515 Certificates of deposit 78,342,839 75,627,343 Total deposits $ 156,440,873 $ 153,750,235
Schedule of Certificates of Deposit and Remaining Maturities	At December 31, 2019, certificates of deposit and their remaining maturities were as follows: December 31, 2020 $ 27,378,762 2021 21,243,979 2022 14,240,137 2023 8,924,905 2024 6,555,056 $ 78,342,839

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Summary of advances outstanding from the federal home loan bank of atlanta	The Bank has advances outstanding from the Federal Home Loan Bank of Atlanta (“FHLB”). A schedule of borrowings is as follows: December 31, 2019 Advance Amount Rate Maturity Date $ 2,500,000 1.78 % 12/17/2020

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of ESOP Shares	A summary of ESOP shares is as follows: 2019 2018 Shares allocated to employees 67,326 33,856 Unearned shares 270,848 304,704 Total ESOP shares 338,174 338,560 Fair value of unearned shares $ 3,824,374 $ 3,814,894

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Income Tax Provision	The income tax provision reflected in the statements of income consisted of the following components for the years ended December 31, 2019 and 2018: 2019 2018 Income tax expense Current tax expense Federal $ 311,651 $ 75,568 State 61,617 — Total current 373,268 75,568 Deferred tax (benefit) expense Federal (31,896 ) 101,882 State 26,897 45,555 Total deferred (benefit) expense (4,999 ) 147,437 Total income tax expense $ 368,269 $ 223,005
Schedule of Reconciliation of Tax Computed at Federal Statutory Tax Rate to Actual Tax Expense	A reconciliation of tax computed at the Federal statutory tax rate of 21% to the actual tax expense for the years ended December 31, 2019 and 2018, are as follows: 2019 2018 Tax at Federal statutory rate $ 267,956 $ 188,186 Tax effect of: Bank owned life insurance (25,646 ) (33,775 ) Nondeductible expenses 5,012 4,198 Stock-based compensation expense 44,921 18,841 State income taxes, net of federal benefit 76,026 45,555 Income tax expense $ 368,269 $ 223,005
Schedule of Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Tax Rate	A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2019 and 2018, are as follows: 2019 2018 Tax at Federal statutory rate 21.0 % 21.0 % Tax effect of: Bank owned life insurance (2.0 ) (3.8 ) Nondeductible expenses 0.4 0.5 Stock-based compensation expense 3.5 2.1 State income taxes, net of federal benefit 5.9 5.1 Income tax expense 28.8 % 24.9 %
Schedule of Components of Net Deffered Tax Asset	The components of the net deferred tax asset at December 31, 2019 and 2018, were as follows: 2019 2018 Deferred income tax assets: Deferred compensation $ 88,477 $ 90,243 2019 Equity Incentive Plan compensation 93,920 — Net operating loss carryforward — 36,796 Nonaccrual interest 4,932 9,921 Capitalized foreclosed asset expenses 318,856 416,302 Allowance for loan losses 423,536 364,153 929,721 917,415 Deferred income tax liabilities: Unrealized gain on securities 192,047 10,712 Accumulated depreciation 8,405 1,098 Federal Home Loan Bank stock dividends 4,611 4,611 205,063 16,421 Net deferred income tax asset $ 724,658 $ 900,994

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of the Activity in the Company's Restricted Stock	The following table presents a summary of the activity in the Company’s restricted stock for the year ended December 31, 2019: Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2019 — $ — Granted 161,320 13.40 Vested — — Forfeited — — Nonvested at December 31, 2019 161,320 $ 13.40 Fair value of vested shares $ —
Vesting Schedule of the Nonvested Restricted Stock Awards	The following table outlines the vesting schedule of the nonvested restricted stock awards as of December 31, 2019: Year Ending December 31, Number of Restricted Shares 2020 32,264 2021 32,264 2022 32,264 2023 32,264 2024 32,264 161,320
Share Based Payment Award Stock Options Valuation Assumptions	The fair value of options granted to date was determined using the following assumptions as of the grant date. Expected Stock Price Volatility 17.08 % Expected Dividend Yield 0.00 % Expected Term (In Years) 7.0 Risk-Free Rate 2.30 % Fair Value of Options Granted $ 3.35
Schedule Of Share Based Compensation Stock Options Activity	The following table summarizes the Company’s stock option activity and related information for the year ended December 31, 2019: Shares Weighted Exercise Price Weighted Average Remaining Contractual Outstanding at January 1, 2019 — $ — Granted 368,300 13.40 9.4 Vested — — Forfeited — — Outstanding at December 31, 2019 368,300 $ 13.40 9.4 Fair value of vested shares $ —

Stock Repurchases (Tables)

Stock Repurchases (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Share Repurchase Program	The following table sets forth information in connection with repurchases of the Company’s shares of common stock for the 2019 Plan during the periods listed. Period Total Number Average Price Total Number of Maximum Number of Shares That May May 14 – 31, 2019 2,822 $ 13.69 2,822 166,458 June 1 – 30, 2019 33,135 13.85 35,957 133,323 August 1 – 31, 2019 30,000 13.69 65,957 103,323 September 1 – 30, 2019 36,000 13.92 101,957 67,323 October 1 – 31, 2019 67,323 14.09 169,280 — Period Total Number Average Price Total Value of Shares Purchased as Maximum Value of December 2 – 31, 2019 23,495 $ 14.15 $ 332,545 $ 5,667,455
Schedule of Earnings Per Share	Year Ended December 31, 2019 2018 Net income $ 907,713 $ 673,122 Weighted average common shares outstanding, basic 3,942,698 3,893,793 Weighted average common shares outstanding, dilutive 3,949,443 3,893,793 Earnings per common share, basic and diluted $ 0.23 0.17

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	12 Months Ended
	Dec. 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 December 31, 2019 and 2018 were as follows (dollars in thousands): Actual Minimum Regulatory To Be Well Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of December 31, 2019: Common equity tier 1 capital $ 41,635 27.74 % $ 9,569 ³ 6.375 % $ 9,757 ³ 6.5 % Total risk-based capital 43,054 28.68 % 14,823 ³ 9.875 % 15,010 ³ 10.0 % Tier 1 capital (to risk-weighted assets) 41,635 27.74 % 11,821 ³ 7.875 % 12,008 ³ 8.0 % Tier 1 capital (to average assets) 41,635 19.08 % 8,731 ³ 4.000 % 10,913 ³ 5.0 % As of December 31, 2018: Common equity tier 1 capital $ 39,871 29.67 % $ 8,566 ³ 6.375 % $ 8,734 ³ 6.5 % Total risk-based capital 41,094 30.58 % 13,269 ³ 9.875 % 13,437 ³ 10.0 % Tier 1 capital (to risk-weighted assets) 39,871 29.67 % 10,581 ³ 7.875 % 10,749 ³ 8.0 % Tier 1 capital (to average assets) 39,871 18.45 % 8,643 ³ 4.000 % 10,804 ³ 5.0 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Investment Securities Available for Sale	Fair value measurements on a recurring basis Securities available for sale Level 1 Level 2 Level 3 Total December 31, 2019 Securities available for sale: U.S. Government Agency and Federal obligations $ — $ 9,544,342 $ — $ 9,544,342 Residential mortgage-backed securities — 26,010,539 — 26,010,539 Municipal securities — 1,535,710 — 1,535,710 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 December 31, 2019 Impaired loans $ — $ — $ 2,827,431 $ 2,827,431 Foreclosed real estate — — 845,000 845,000 December 31, 2018 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 Fair Value Value Technique(s) Unobservable Inputs Range or Rate December 31, 2019 Impaired loans $ 2,827,431 Appraised value Discount to reflect current market conditions 0.00 % Discounted cash flows Discount rates 1.68 % Foreclosed real estate $ 845,000 Appraised value Discount to reflect current market conditions 10.11 % 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 December 31, 2019 Using Carrying Value Quoted (Level 1) Significant (Level 2) Significant (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 5,987 $ 5,987 $ — $ — $ 5,987 Time deposits in other banks 7,936 — 8,127 — 8,127 Securities available for sale 37,091 — 37,091 — 37,091 Federal Home Loan Bank stock 300 — 300 — 300 Loans held for sale 1,730 — 1,823 — 1,823 Loans, net (1) 158,245 — — 161,954 161,954 Foreclosed real estate 845 — — 845 845 Accrued interest receivable 655 — 655 — 655 Financial liabilities: Deposits 156,441 — 145,617 — 145,617 Borrowings 2,500 2,550 2,550 (1) Carrying amount is net of unearned income and the allowance for loan losses. Fair Value Measurements at December 31, 2018 Using Carrying Value Quoted (Level 1) Significant (Level 2) Significant (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 (1) Carrying amount is net of unearned income and the allowance for loan losses.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Loan Commitments Representing Off-Balance Sheet Risk	Loan commitments representing off-balance December 31, 2019 2018 Commitments to extend credit Residential construction $ 11,893,781 $ 5,921,768 Residential real estate 500,000 130,000 Commercial real estate and other construction 2,834,834 2,146,083 Commitments under available lines of credit Home equity lines of credit 5,301,358 5,519,605 Commercial lines of credit 2,475,839 810,318 Consumer lines of credit 876,623 1,026,057 Letters of credit 491,432 583,604 $ 24,373,867 $ 16,137,435

Condensed Parent Company Only_2

Condensed Parent Company Only Financial Information (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Condensed Statement of Financial Condition	Condensed December 31, 2019 December 31, 2018 Assets Cash in bank subsidiary $ 15,034,833 $ 17,364,534 ESOP loan receivable 2,708,480 3,047,040 Investment in bank subsidiary 42,140,741 39,930,627 Other assets 57,454 10,074 Total assets $ 59,941,508 $ 60,352,275 Liabilities and Stockholders’ Equity Liabilities Other liabilities $ 6,132 $ 5,500 Total liabilities 6,132 $ 5,500 Stockholders’ Equity Common stock 42,085 42,320 Additional paid in capital 41,210,056 40,987,146 Retained earnings 23,243,847 22,336,134 Unearned common stock held by: Employee Stock Ownership Plan (2,708,480 ) (3,047,040 ) 2019 Equity Incentive Plan (2,357,994 ) — Accumulated other comprehensive income 505,862 28,215 Total stockholders’ equity 59,935,376 60,346,775 Total liabilities and stockholders’ equity $ 59,941,508 $ 60,352,275
Schedule of Condensed Statements of Operations	Condensed For the Years Ended December 31, 2019 2018 Interest income Income on ESOP loan $ 159,970 $ 46,262 Interest on bank deposits 271,425 73,173 Total interest income 431,395 119,435 Non-interest Professional fees 233,774 29,200 Other operating expenses 102,388 120,109 Total non-interest 336,162 149,309 Net income (loss) before tax expense (benefit) 95,233 (29,874 ) Income tax expense (benefit) 26,206 6,274 Income (loss) before equity in undistributed earnings of Bank 69,027 (23,600 ) Equity in undistributed earnings of Bank 838,686 696,722 Net income $ 907,713 $ 673,122
Schedule of Condensed Statements of Cash Flows	Condensed S For the Years Ended December 31, 2019 2018 Cash flows from operating activities: Net income $ 907,713 $ 673,122 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed net income of Bank (838,686 ) (696,722 ) Increase in other assets (47,381 ) (10,074 ) Increase in other liabilities 632 5,500 Net cash provided by (used in) operating activities 22,278 (28,174 ) Cash flows from investing activities: Capital injection into Bank from stock offering — (20,500,000 ) Principal collected on ESOP loan 338,560 338,560 Net cash provided by (used in) investing activities 338,560 (20,161,440 ) Cash flows from financing activities: Proceeds from issuance of common stock — 40,939,748 Purchase of ESOP shares — (3,385,600 ) Repurchase of common stock for 2019 Equity Incentive Plan (2,357,994 ) — Repurchase of common stock (332,545 ) — Net cash (used in) provided by financing activities (2,690,539 ) 37,554,148 Net (decrease) increase in cash and cash equivalents (2,329,701 ) 17,364,534 Cash and cash equivalents, beginning balance 17,364,534 — Cash and cash equivalents, ending balance $ 15,034,833 $ 17,364,534

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail) - USD ($)	Sep. 27, 2018	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Proceeds from sale and issuance of common stock			$ 40,939,748
Repurchase par value of common stock, per share		$ 100
Federal Home Loan Bank stock, at cost		$ 300,400	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")		$ 0	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")		$ 122,118	$ 129,775

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Range of Estimated Useful Lives for Premises and Equipment (Detail)	12 Months Ended
	Dec. 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 ($)	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	$ 36,392,681	$ 37,408,496
Securities Available for Sale, Gross Unrealized Gains	746,553	157,687
Securities Available for Sale, Gross Unrealized Losses	48,643	118,760
Securities Available for Sale, Fair Value	37,090,591	37,447,423
U.S. Government Agency and Federal Obligations
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	9,472,370	18,264,805
Securities Available for Sale, Gross Unrealized Gains	76,651	45,850
Securities Available for Sale, Gross Unrealized Losses	4,679	90,583
Securities Available for Sale, Fair Value	9,544,342	18,220,072
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	25,415,647	17,637,729
Securities Available for Sale, Gross Unrealized Gains	638,856	111,837
Securities Available for Sale, Gross Unrealized Losses	43,964	4,580
Securities Available for Sale, Fair Value	26,010,539	17,744,986
Municipal Securities
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	1,504,664	1,505,962
Securities Available for Sale, Gross Unrealized Gains	31,046
Securities Available for Sale, Gross Unrealized Losses		23,597
Securities Available for Sale, Fair Value	$ 1,535,710	$ 1,482,365

Securities - Amortized Cost a_2

Securities - Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, Amortized Cost	$ 1,000,000	$ 1,000,000
Due after one year through five years, Amortized Cost	9,474,467	14,453,375
Due five years to ten years, Amortized Cost	502,567	4,317,392
Securities Available for Sale, Amortized Cost	36,392,681	37,408,496
Due in one year or less, Fair Value	998,407	989,119
Due after one year through five years, Fair Value	9,560,135	14,391,553
Due five years to ten years, Fair Value	521,510	4,321,765
Securities Available for Sale, Fair Value	37,090,591	37,447,423
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Securities Available for Sale, Amortized Cost	25,415,647	17,637,729
Securities Available for Sale, Fair Value	$ 26,010,539	$ 17,744,986

Securities - Securities with Gr

Securities - Securities with Gross Unrealized Losses (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Fair Value, Less than 12 Months	$ 4,862,213	$ 3,802,053
Gross Unrealized Losses, Less than 12 Months	43,964	4,643
Fair Value, 12 Months or Greater	1,995,321	5,890,918
Gross Unrealized Losses, 12 Months or Greater	4,679	114,117
Securities Available for Sale, Fair Value	6,857,534	9,692,971
Securities Available for Sale, Gross Unrealized Losses	48,643	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	1,995,321	4,408,553
Gross Unrealized Losses, 12 Months or Greater	4,679	90,520
Securities Available for Sale, Fair Value	1,995,321	5,372,498
Securities Available for Sale, Gross Unrealized Losses	4,679	90,583
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Fair Value, Less than 12 Months	4,862,213	2,838,108
Gross Unrealized Losses, Less than 12 Months	43,964	4,580
Securities Available for Sale, Fair Value	4,862,213	2,838,108
Securities Available for Sale, Gross Unrealized Losses	$ 43,964	4,580
Municipal Securities
Marketable Securities [Line Items]
Fair Value, 12 Months or Greater		1,482,365
Gross Unrealized Losses, 12 Months or Greater		23,597
Securities Available for Sale, Fair Value		1,482,365
Securities Available for Sale, Gross Unrealized Losses		$ 23,597

Securities - Additional Informa

Securities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 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 gain (loss)	$ 48,643	(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 ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lease and Investment Commitments [Line Items]
Total loans	$ 159,885,696	$ 143,662,017
Net deferred loan origination fees	(261,085)	(153,204)
Allowance for loan losses	(1,379,150)	(1,188,352)	$ (1,038,405)
Net loans	158,245,461	142,320,461
Real Estate Loan
Lease and Investment Commitments [Line Items]
Total loans	152,416,758	137,881,919
Real Estate Loan | One-to Four-Family
Lease and Investment Commitments [Line Items]
Total loans	74,655,376	70,197,875
Real Estate Loan | Home Equity Loans and Lines of Credit
Lease and Investment Commitments [Line Items]
Total loans	7,488,348	7,547,195
Real Estate Loan | Construction and Land Development
Lease and Investment Commitments [Line Items]
Total loans	9,260,520	8,232,067
Real Estate Loan | Nonresidential
Lease and Investment Commitments [Line Items]
Total loans	61,012,514	51,904,782
Other Loans
Lease and Investment Commitments [Line Items]
Total loans	7,468,938	5,780,098
Other Loans | Commercial
Lease and Investment Commitments [Line Items]
Total loans	6,946,372	5,250,815
Other Loans | Consumer
Lease and Investment Commitments [Line Items]
Total loans	$ 522,566	$ 529,283

Loans - Additional Information

Loans - Additional Information (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Lease and Investment Commitments [Line Items]
Total loans	$ 159,885,696	$ 143,662,017
Overdraft Consumer Loan
Lease and Investment Commitments [Line Items]
Total loans	$ 25,714	$ 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 ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	$ 1,188,352	$ 1,038,405
Charge-offs	(101,111)	(440,914)
Recoveries	116,909	15,861
(Reversal) provision	175,000	575,000
Ending Balance	1,379,150	1,188,352
Ending balance: individually evaluated for impairment	681	8,163
Ending balance: collectively evaluated for impairment	1,378,469	1,180,189
Ending balance	159,885,696	143,662,017
Ending balance: individually evaluated for impairment	2,828,148	1,286,793
Ending balance: collectively evaluated for impairment	157,057,548	142,375,224
One-to-Four-Family
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	244,781	238,148
Charge-offs	(90,111)	(88,000)
Recoveries		7,562
(Reversal) provision	176,935	87,071
Ending Balance	331,605	244,781
Ending balance: collectively evaluated for impairment	331,605	244,781
Ending balance	74,655,376	70,197,875
Ending balance: individually evaluated for impairment	337,984	585,047
Ending balance: collectively evaluated for impairment	74,317,392	69,612,828
Home Equity Loans and Lines of Credit
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	68,837	83,129
Charge-offs		(12,013)
Recoveries	2,439
(Reversal) provision	(8,673)	(2,279)
Ending Balance	62,603	68,837
Ending balance: individually evaluated for impairment	681	2,089
Ending balance: collectively evaluated for impairment	61,922	66,748
Ending balance	7,488,348	7,547,195
Ending balance: individually evaluated for impairment	116,721	130,795
Ending balance: collectively evaluated for impairment	7,371,627	7,416,400
Construction and Land Development
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	185,170	173,167
Charge-offs	(11,000)
Recoveries		8,299
(Reversal) provision	5,371	3,704
Ending Balance	179,541	185,170
Ending balance: individually evaluated for impairment		6,074
Ending balance: collectively evaluated for impairment	179,541	179,096
Ending balance	9,260,520	8,232,067
Ending balance: individually evaluated for impairment	791,625	86,728
Ending balance: collectively evaluated for impairment	8,468,895	8,145,339
Nonresidential
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	626,031	446,576
Charge-offs		(335,000)
Recoveries	114,470
(Reversal) provision	(57,048)	514,455
Ending Balance	683,453	626,031
Ending balance: collectively evaluated for impairment	683,453	626,031
Ending balance	61,012,514	51,904,782
Ending balance: individually evaluated for impairment	1,581,818	484,223
Ending balance: collectively evaluated for impairment	59,430,696	51,420,559
Commercial
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	28,879	44,199
(Reversal) provision	26,692	(15,320)
Ending Balance	55,571	28,879
Ending balance: collectively evaluated for impairment	55,571	28,879
Ending balance	6,946,372	5,250,815
Ending balance: collectively evaluated for impairment	6,946,372	5,250,815
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	6,669	15,933
Charge-offs		(5,901)
(Reversal) provision	281	(3,363)
Ending Balance	6,950	6,669
Ending balance: individually evaluated for impairment		0
Ending balance: collectively evaluated for impairment	6,950	6,669
Ending balance	522,566	529,283
Ending balance: individually evaluated for impairment		0
Ending balance: collectively evaluated for impairment	522,566	529,283
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	27,985	37,253
(Reversal) provision	31,442	(9,268)
Ending Balance	59,427	27,985
Ending balance: collectively evaluated for impairment	$ 59,427	$ 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 ($)	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 159,885,696	$ 143,662,017
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	156,637,148	139,874,599
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	460,842	2,546,455
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,787,706	1,240,963
One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total loans	74,655,376	70,197,875
One-to-Four-Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	73,856,550	69,499,216
One-to-Four-Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	460,842	113,612
One-to-Four-Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	337,984	585,047
Home Equity Loans and Lines of Credit
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,488,348	7,547,195
Home Equity Loans and Lines of Credit | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,412,069	7,462,230
Home Equity Loans and Lines of Credit | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	76,279	84,965
Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total loans	9,260,520	8,232,067
Construction and Land Development | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	8,468,895	7,351,165
Construction and Land Development | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans		794,174
Construction and Land Development | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	791,625	86,728
Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total loans	61,012,514	51,904,782
Nonresidential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	59,430,696	49,781,890
Nonresidential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans		1,638,669
Nonresidential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,581,818	484,223
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total loans	6,946,372	5,250,815
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	6,946,372	5,250,815
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total loans	522,566	529,283
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 522,566	$ 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 ($)	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	$ 935,905	$ 1,257,763
Current Loans	158,949,791	142,404,254
Total Loans	159,885,696	143,662,017
Recorded Investment > 90 Days and Accruing
Nonaccrual Loans	489,991	1,240,963
One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	558,300	602,968
Current Loans	74,097,076	69,594,907
Total Loans	74,655,376	70,197,875
Recorded Investment > 90 Days and Accruing
Nonaccrual Loans	337,984	585,047
Home Equity Loans and Lines of Credit
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	245,608	83,611
Current Loans	7,242,740	7,463,584
Total Loans	7,488,348	7,547,195
Nonaccrual Loans	76,279	84,965
Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	75,728	86,728
Current Loans	9,184,792	8,145,339
Total Loans	9,260,520	8,232,067
Nonaccrual Loans	75,728	86,728
Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans		484,223
Current Loans	61,012,514	51,420,559
Total Loans	61,012,514	51,904,782
Nonaccrual Loans	0	484,223
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	31,510
Current Loans	6,914,862	5,250,815
Total Loans	6,946,372	5,250,815
Nonaccrual Loans	0
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	24,759	233
Current Loans	497,807	529,050
Total Loans	522,566	529,283
Nonaccrual Loans	0
Loans 30-59 Days Past Due
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	445,914	223,750
Loans 30-59 Days Past Due | One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	220,316	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	169,329	35,606
Loans 30-59 Days Past Due | Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans		86,728
Loans 30-59 Days Past Due | Commercial
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	31,510
Loans 30-59 Days Past Due | Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	24,759	233
Loans 60-89 Days Past Due
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	0	158,134
Loans 60-89 Days Past Due | One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	0	158,134
Loans 90 or More Days Past Due
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	489,991	875,879
Loans 90 or More Days Past Due | One-to-Four-Family
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	337,984	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	76,279	48,005
Loans 90 or More Days Past Due | Construction and Land Development
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans	$ 75,728
Loans 90 or More Days Past Due | Nonresidential
Financing Receivable, Recorded Investment [Line Items]
Total Past Due Loans		$ 484,223

Credit Quality of Loans and t_6

Credit Quality of Loans and the Allowance for Loan Losses - Additional Information (Detail)	12 Months Ended
	Dec. 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	7	10
Financing receivable recorded investment non accrual status, forgone interest	$ 17,925	$ 36,054
Recorded investment 90 days and accruing interest | Loans	0	0
Number of TDR | TDR	1	2
Financing receivable modifications recorded investment	$ 40,442	$ 166,210
Financing receivables impaired troubled debt restructuring write down	49,836	58,000
Nonperforming loan	$ 0	120,380
Total Loss On Trouble Debt Restructuring		$ 107,836

Credit Quality of Loans and t_7

Credit Quality of Loans and the Allowance for Loan Losses - Summary Of Impaired Loans (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Home Equity Loans and Lines of Credit
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 76,279	$ 84,965
Unpaid Principal Balance	76,279	84,965
Average Recorded Investment	82,117	86,032
Interest Income Recognized	2,727	3,197
Recorded Investment	40,442	45,830
Unpaid Principal Balance	40,442	45,869
Related Allowance	681	2,089
Average Recorded Investment	43,136	47,479
Interest Income Recognized	2,964	2,743
Recorded Investment	116,721	130,795
Unpaid Principal Balance	116,721	130,834
Related Allowance	681	2,089
Average Recorded Investment	125,252	133,511
Interest Income Recognized	5,691	5,940
Nonresidential
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,581,818	484,223
Unpaid Principal Balance	1,581,818	872,655
Average Recorded Investment	1,609,744	860,518
Interest Income Recognized	61,141	26,452
Recorded Investment	1,581,818	484,223
Unpaid Principal Balance	1,581,818	872,655
Average Recorded Investment	1,609,744	860,518
Interest Income Recognized	61,141	26,452
One-to-Four-Family
Financing Receivable, Impaired [Line Items]
Recorded Investment	337,984	585,047
Unpaid Principal Balance	342,345	650,982
Average Recorded Investment	342,907	655,706
Interest Income Recognized	11,765	22,214
Recorded Investment	337,984	585,047
Unpaid Principal Balance	342,345	650,982
Average Recorded Investment	342,907	655,706
Interest Income Recognized	11,765	22,214
Construction and Land Development
Financing Receivable, Impaired [Line Items]
Recorded Investment	791,625
Unpaid Principal Balance	802,625
Average Recorded Investment	836,264
Interest Income Recognized	54,478
Recorded Investment		86,728
Unpaid Principal Balance		86,728
Related Allowance		6,074
Average Recorded Investment		87,542
Interest Income Recognized		3,916
Recorded Investment	791,625	86,728
Unpaid Principal Balance	802,625	86,728
Related Allowance		6,074
Average Recorded Investment	836,264	87,542
Interest Income Recognized	$ 54,478	$ 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)	12 Months Ended
	Dec. 31, 2019USD ($)TDR	Dec. 31, 2018USD ($)TDR
Financing Receivable, Modifications [Line Items]
Number of Contracts | TDR	1	2
Performing	$ 40,442	$ 45,830
Nonperforming	0	120,380
Total	$ 40,442	$ 166,210
One-to-Four-Family
Financing Receivable, Modifications [Line Items]
Number of Contracts | TDR		1
Nonperforming		$ 120,380
Total		$ 120,380
Home Equity Loans and Lines of Credit
Financing Receivable, Modifications [Line Items]
Number of Contracts | TDR	1	1
Performing	$ 40,442	$ 45,830
Total	$ 40,442	$ 45,830

Premises and Equipment - Summar

Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Premises and equipment	$ 4,414,391	$ 4,362,206
Less: accumulated depreciation	(2,585,725)	(2,437,688)
Premises and equipment, net	1,828,666	1,924,518
Land
Property, Plant and Equipment [Line Items]
Premises and equipment	619,926	619,926
Buildings and Land Improvements
Property, Plant and Equipment [Line Items]
Premises and equipment	2,713,105	2,683,447
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Premises and equipment	157,819	147,429
Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Premises and equipment	$ 923,541	$ 911,404

Premises and Equipment - Additi

Premises and Equipment - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)Branch	Dec. 31, 2018USD ($)
Depreciation expense	$ 158,898	$ 163,432
Lease Expiration Date	Dec. 31, 2022
Number Of Leased Bank Branches | Branch	1
Operating Leases, Rent Expense	$ 34,664	$ 34,664

Premises and Equipment - Summ_2

Premises and Equipment - Summary of Minimum Annual Lease Payments (Detail)	Dec. 31, 2019USD ($)
2020	$ 31,590
2021	31,906
2022	32,226
Operating Leases, Future Minimum Payments Due	$ 95,722

Foreclosed Real Estate - Additi

Foreclosed Real Estate - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)Loans	Dec. 31, 2018USD ($)Loans	Dec. 31, 2017USD ($)
Real Estate [Line Items]
Foreclosed real estate amount	$ 845,000	$ 865,000	$ 865,000
Loan in process of foreclosure	$ 0	$ 0
Residential Real Estate
Real Estate [Line Items]
Number of loans in the process of foreclosure | Loans	2
Number of properties included in foreclosed real estate | Loans	0	0
Non Residential Real Estate
Real Estate [Line Items]
Number of loans in the process of foreclosure | Loans	1
Residential First Mortgage
Real Estate [Line Items]
Loan in process of foreclosure	$ 184,228
Non Residential Mortgage Loan
Real Estate [Line Items]
Loan in process of foreclosure	$ 484,223

Foreclosed Real Estate - Schedu

Foreclosed Real Estate - Schedule of Changes in Foreclosed Real Estate (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Line Items]
Balance, beginning of period	$ 865,000	$ 865,000
Write-down of foreclosed real estate	(20,000)
Balance, end of period	$ 845,000	$ 865,000

Deposits - Schedule of Deposits

Deposits - Schedule of Deposits (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deposits [Line Items]
Noninterest-bearing demand	$ 19,780,866	$ 18,111,318
Interest-bearing demand	23,779,145	23,354,687
Money market	10,242,323	11,775,372
Savings	24,295,700	24,881,515
Certificates of deposit	78,342,839	75,627,343
Total deposits	$ 156,440,873	$ 153,750,235

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deposit accounts, federally insured	$ 250,000
Time deposits with balances of $250,000 or more	14,113,578	$ 11,415,706
Deposit balances	156,440,873	153,750,235
Officers and Directors
Deposit balances	$ 419,857	$ 730,168

Deposits - Schedule of Certific

Deposits - Schedule of Certificates of Deposit and Remaining Maturities (Detail)	Dec. 31, 2019USD ($)
Schedule of Maturities of Time Deposits [Line Items]
2020	$ 27,378,762
2021	21,243,979
2022	14,240,137
2023	8,924,905
2024	6,555,056
Certificate of deposit	$ 78,342,839

Borrowings - Schedule of Outsta

Borrowings - Schedule of Outstanding the Federal Home Loan Bank Of AtlantaBorrowings (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)
Debt Disclosure [Abstract]
Advance amount	$ 2,500,000
Rate	1.78%
Maturity Date	Dec. 17, 2020

Borrowings - Additional informa

Borrowings - Additional information (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Federal Home Loan Bank, advances limit as percentage of total assets	25.00%
Total Credit Federal Home Loan Bank, available amount	$ 55,100,000	$ 54,400,000
Federal Home Loan Bank, available amount	52,600,000	54,400,000
Federal home loan bank advances eligible amount to pledge as collateral	52,700,000	50,300,000
Federal Home Loan Bank, advances outstanding		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 ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Common stock per share	$ 0.01	$ 0.01
ESOP compensation expense	$ 462,134	$ 428,278
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
Interest rate on ESOP loan	5.25%
Employee stock ownership plan, vesting period	3 years
Employee stock ownership plan, vesting percentage	100.00%
ESOP compensation expense	$ 462,134	$ 428,278

Employee Stock Ownership Plan_2

Employee Stock Ownership Plan - Summary of ESOP Shares (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares allocated to employees	67,326	33,856
Unearned shares	270,848	304,704
Total ESOP shares	338,174	338,560
Fair value of unearned shares	$ 3,824,374	$ 3,814,894

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Current tax expense
Federal	$ 311,651	$ 75,568
State	61,617
Total current	373,268	75,568
Deferred tax expense
Federal	(31,896)	101,882
State	26,897	45,555
Total deferred	(4,999)	147,437
Total income tax expense	$ 368,269	$ 223,005

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Federal tax rate	21.00%	21.00%
Retained earnings reserve for loan losses	$ 1,453,708

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Tax Computed at Federal Statutory Tax Rate to Actual Tax Expense (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation Of Income Tax Expense Benefit And Statutory Federal Tax Rate [Line Items]
Tax at Federal statutory rate	$ 267,956	$ 188,186
Bank owned life insurance	(25,646)	(33,775)
Nondeductible expenses	5,012	4,198
Stock-based compensation expense	44,921	18,841
State income taxes, net of federal benefit	76,026	45,555
Income tax expense	$ 368,269	$ 223,005

Income Taxes - Schedule of Re_2

Income Taxes - Schedule of Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Tax at Federal statutory rate	21.00%	21.00%
Bank owned life insurance	(2.00%)	(3.80%)
Nondeductible expenses	0.40%	0.50%
Stock-based compensation expense	3.50%	2.10%
State income taxes, net of federal benefit	5.90%	5.10%
Income tax expense	28.80%	24.90%

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Net Deferred Tax Asset (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
Deferred compensation	$ 88,477	$ 90,243
2019 Equity Incentive Plan compensation	93,920
Net operating loss carryforward		36,796
Nonaccrual interest	4,932	9,921
Capitalized foreclosed asset expenses	318,856	416,302
Allowance for loan losses	423,536	364,153
Deferred Tax Assets, Gross, Total	929,721	917,415
Deferred income tax liabilities:
Unrealized gain on securities	192,047	10,712
Accumulated depreciation	8,405	1,098
Federal Home Loan Bank stock dividends	4,611	4,611
Deferred Tax Liabilities, Gross, Total	205,063	16,421
Net deferred income tax asset	$ 724,658	$ 900,994

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail)	Jan. 01, 2018	Dec. 31, 2019USD ($)Age	Dec. 31, 2018USD ($)
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Increase in cash surrender value of life insurance policies		$ 114,468	$ 124,167
Retirement benefit plan, benefit commencement period following normal retirement date		30 days
Supplemental Employee Retirement Plan
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Deferred compensation expense		$ 47,951	44,127
Defined Contribution 401 K Plan
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Age required for eligibility		18 years
Eligibility period		1 year
Deferred compensation plan, description	the plan provides for the Company to make contributions which will match employee deferrals on a one-to-one basis up to 3% of an employee’s eligible compensation and an additional of 50% of the next 2% of an employee’s eligible compensation for a total maximum employer contribution of 4%.
Eligible compensation contribution by employee percentage	3.00%
Second eligible compensation contribution by employee percentage	2.00%
Defined contribution plan, employers matching contribution, annual vesting percentage	100.00%
Defined contribution plan, discretionary contribution amount		$ 76,147	80,307
Maximum | Defined Contribution 401 K Plan
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Matching contribution provided percentage	4.00%
Director | Supplemental Employee Retirement Plan
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Retirement benefit plan,accrued liabilities		121,044	175,414
Chief Executive Officer
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Supplemental executive retirement plan, annual payments		$ 30,000
Supplemental executive retirement plan, payment period		10 years
Supplemental executive retirement plan, retirement age | Age		65
Chief Executive Officer | Supplemental Employee Retirement Plan
Schedule Of Defined Benefit Plans Disclosures [Line Items]
Retirement benefit plan,accrued liabilities		$ 200,483	$ 152,532
Supplemental executive retirement plan, annual payments		$ 30,000
Supplemental executive retirement plan, payment period		10 years
Supplemental executive retirement plan, retirement age | Age		65

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($)	May 14, 2019	Dec. 31, 2019
Share Based Payment Award Options Granted		368,300
Share Based Payment Award Options Granted Weighted Average Grant Date Fair Value		$ 3.35
2019 Equity Incentive Plan Trust
Number Of Shares Available to Acquired Subject To Vesting Of Restricted Shares	169,280
Share Based Payments Awards Maximum Grants Percentage Description		The 2019 Plan provides that grants to each employee and non-employee director shall not exceed 25% and 5% of the shares available under the 2019 Plan, respectively. Shares awarded to non-employee directors in the aggregate shall not exceed 30% of the shares available under the 2019 Plan.
Restricted Stock
Share based Payment Award Vesting Rights Percentage	20.00%
Restricted Stock | 2019 Equity Incentive Plan Trust
Share Based Payment Award Number Of Shares Authorized	169,280
Share Based Payment Award Equity Instruments Other Than Options Granted		161,320
Employee Stock Option
Share Based Compensation Expense		$ 156,845
Unrecognized compensation expense related to nonvested shares granted		$ 1,076,960
Compensation Cost Not Yet Recognized Period For Recognition		4 years 4 months 24 days
Share Based Payment Award Options Granted Weighted Average Grant Date Fair Value		$ 14.12
Share Based Payment Award Options Outstanding Intrinsic Value		$ 265,176
Employee Stock Option | 2019 Equity Incentive Plan Trust
Share Based Payment Award Number Of Shares Authorized	423,200
Share Based Payment Award Options Granted		368,300
Share based Payment Award Vesting Rights Percentage	20.00%
Restricted Stock Units (RSUs)
Share Based Payment Award Equity Instruments Other Than Options Granted		161,320
Share Based Compensation Expense		$ 274,801
Unrecognized compensation expense related to nonvested shares granted		$ 1,886,887
Compensation Cost Not Yet Recognized Period For Recognition		4 years 4 months 24 days

Stock Based Compensation - Summ

Stock Based Compensation - Summary of the Activity in the Company's Restricted Stock (Detail) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Granted, Shares | shares	161,320
Nonvested ending balance, Shares | shares	161,320
Granted, Weighted Average Grant Date Fair Value | $ / shares	$ 13.40
Nonvested ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 13.40

Stock Based Compensation - Vest

Stock Based Compensation - Vesting Schedule of the Nonvested Restricted Stock Awards (Detail) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2019shares
Nonvested restricted stock awards	161,320
2020
Nonvested restricted stock awards	32,264
2021
Nonvested restricted stock awards	32,264
2022
Nonvested restricted stock awards	32,264
2023
Nonvested restricted stock awards	32,264
2024
Nonvested restricted stock awards	32,264

Stock Based Compensation - Shar

Stock Based Compensation - Share Based Payment Award Stock Options Valuation Assumptions (Detail)	12 Months Ended
	Dec. 31, 2019$ / shares
Expected Stock Price Volatility	17.08%
Expected Dividend Yield	0.00%
Expected Term (In Years)	7 years
Risk-Free Rate	2.30%
Fair Value of Options Granted	$ 3.35

Stock Based Compensation - Sche

Stock Based Compensation - Schedule Of Share Based Compensation Stock Options Activity (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Outstanding, Shares at Beginning
Granted, Shares	368,300
Vested, Shares
Forfeited, Shares
Outstanding, Shares at Ending	368,300
Fair value of vested shares | $
Outstanding, Weighted Average Exercise Price at Beginning | $ / shares
Granted, Weighted Average Exercise Price | $ / shares	13.40
Outstanding, Weighted Average Exercise Price at Ending | $ / shares	$ 13.40
Oustanding, Weighted Average Remaining Contractual Term	9 years 4 months 24 days
Granted, Weighted Average Remaining Contractual Term	9 years 4 months 24 days

Stock Repurchases - Additional

Stock Repurchases - Additional information (Detail) - shares	Dec. 02, 2019	May 14, 2019
Number of Shares Authorized to Repurchase	6,000,000	169,280

Stock Repurchases - Schedule of

Stock Repurchases - Schedule of Share Repurchase program (Detail) - $ / shares	1 Months Ended
	Dec. 31, 2019	Oct. 31, 2019	Sep. 30, 2019	Aug. 31, 2019	Jun. 30, 2019	May 31, 2019
Total Number of Shares Purchased	23,495	67.323	36,000	30,000	33,135	2,822
Average Price Paid per Share	$ 14.15	$ 14.09	$ 13.92	$ 13.69	$ 13.85	$ 13.69
2019 Equity Incentive Plan Trust
Total Number of Shares Purchased	332,545	169.280	101,957	65,957	35,957	2,822
Maximum Number of Shares That May Yet Be Purchased Under the Plan	5,667,455		67,323	103,323	133,323	166,458

Stock Repurchases - Schedule _2

Stock Repurchases - Schedule of Earnings Per Share (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 907,713	$ 673,122
Weighted average common shares outstanding - basic	3,942,698	3,893,793
Weighted average common shares outstanding - dilutive	3,949,443	3,893,793
Earnings per common share, basic and diluted	$ 0.23	$ 0.17

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Schedule of Actual and Required Capital Amounts and Ratios of the Bank (Detail) - USD ($) $ in Thousands	Dec. 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	$ 41,635	$ 39,871
Total risk-based capital (to risk-weighted assets), actual amount	43,054	41,094
Tier 1 capital (to risk-weighted assets), actual amount	41,635	39,871
Tier 1 capital (to average assets), actual amount	$ 41,635	$ 39,871
Common equity tier 1 capital (to risk-weighted assets), actual ratio	27.74%	29.67%
Total risk-based capital (to risk-weighted assets), actual ratio	28.68%	30.58%
Tier 1 capital (to risk-weighted assets), actual ratio	27.74%	29.67%
Tier 1 capital (to average assets), actual ratio	19.08%	18.45%
Common equity tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	$ 9,569	$ 8,566
Total risk-based capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	14,823	13,269
Tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	11,821	10,581
Tier 1 capital (to average assets), minimum regulatory capital ratios under Basel III amount	$ 8,731	$ 8,643
Common equity tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	6.375%	6.375%
Total risk-based capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	9.875%	9.875%
Tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	7.875%	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	$ 9,757	$ 8,734
Total risk-based capital (to risk-weighted assets), to be well capitalized under Basel III	15,010	13,437
Tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III	12,008	10,749
Tier 1 capital (to average assets), to be well capitalized under Basel III	$ 10,913	$ 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%

Regulatory Capital Requiremen_4

Regulatory Capital Requirements - Schedule of Actual and Required Capital Amounts and Ratios of the Bank (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital conservation buffer phase-in ratio	1.875%	1.875%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Investment Securities Available for Sale (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 37,090,591	$ 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	9,544,342	18,220,072
Residential Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	26,010,539	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	9,544,342	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	26,010,539	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	1,535,710	1,482,365
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	37,091,000	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	9,544,342	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	26,010,539	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	$ 1,535,710	$ 1,482,365

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair value of loan balance	$ 2,828,148	$ 1,286,793
Written down value of loan balance	681	8,163
Foreclosed real estate	$ 845,000	$ 865,000	$ 865,000

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Foreclosed Real Estate (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 845,000	$ 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	2,827,431	1,278,630
Foreclosed real estate	845,000	865,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	845,000	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	2,827,431	1,278,630
Foreclosed real estate	$ 845,000	$ 865,000

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Non-Recurring Basis (Detail)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 845,000	$ 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	2,827,431	1,278,630
Foreclosed real estate	$ 845,000	$ 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	10.11	27.92
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	1.68	4.55
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		7

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Estimated Fair Values of the Bank's Financial Instruments (Detail) - USD ($)		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial assets:
Cash and cash equivalents		$ 5,987,121	$ 18,846,760	$ 12,030,272
Securities available for sale		37,090,591	37,447,423
Federal Home Loan Bank stock		300,400	245,200
Loans held for sale		1,730,430	211,107
Loans, net		158,245,461	142,320,461
Foreclosed real estate		845,000	865,000	$ 865,000
Accrued interest receivable		655,146	695,928
Financial liabilities:
Deposits		156,440,873	153,750,235
Level 1
Financial assets:
Cash and cash equivalents		5,987,000	18,847,000
Level 2
Financial assets:
Time deposits in other banks		8,127,000	6,867,000
Securities available for sale		37,091,000	37,447,000
Federal Home Loan Bank stock		300,000	245,000
Loans held for sale		1,823,000	211,000
Accrued interest receivable		655,000	696,000
Financial liabilities:
Deposits		145,617,000	136,090,000
Borrowings		2,550,000
Level 3
Financial assets:
Loans, net	[1]	161,954,000	141,563,000
Foreclosed real estate		845,000	865,000
Carrying Value
Financial assets:
Cash and cash equivalents		5,987,000	18,847,000
Time deposits in other banks		7,936,000	6,944,000
Securities available for sale		37,091,000	37,447,000
Federal Home Loan Bank stock		300,000	245,000
Loans held for sale		1,730,000	211,000
Loans, net	[1]	158,245,000	142,320,000
Foreclosed real estate		845,000	865,000
Accrued interest receivable		655,000	696,000
Financial liabilities:
Deposits		156,441,000	153,750,000
Borrowings		2,500,000
Fair Value
Financial assets:
Cash and cash equivalents		5,987,000	18,847,000
Time deposits in other banks		8,127,000	6,867,000
Securities available for sale		37,091,000	37,447,000
Federal Home Loan Bank stock		300,000	245,000
Loans held for sale		1,823,000	211,000
Loans, net	[1]	161,954,000	141,563,000
Foreclosed real estate		845,000	865,000
Accrued interest receivable		655,000	696,000
Financial liabilities:
Deposits		145,617,000	$ 136,090,000
Borrowings		$ 2,550,000
[1]	Carrying amount is net of unearned income and the allowance for loan losses.

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies [Line Items]
Accrued credit losses for financial instruments with off-balance sheet risk	$ 40,000	$ 35,000
Provision for losses from repurchase	$ 0	$ 0

Commitment and Contingencies _2

Commitment and Contingencies - Schedule of loan Commitments representing off - balance sheet risk (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	$ 24,373,867	$ 16,137,435
Residential Construction Loan
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	11,893,781	5,921,768
Real Estate Loan
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	500,000	130,000
Commercial
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	2,834,834	2,146,083
Home Equity Loan
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	5,301,358	5,519,605
Commercial Line of Credit
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	2,475,839	810,318
Consumer Lines Of Credit
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	876,623	1,026,057
Standby Letters of Credit
Commitments and Letters of Credit [Line Items]
Loan commitments representing off-balance sheet risk	$ 491,432	$ 583,604

Condensed Parent Company Only_3

Condensed Parent Company Only Financial Information - Condensed Statement of Financial Condition (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Total assets	$ 220,401,579	$ 215,413,092
Liabilities
Total liabilities	160,466,203	155,066,317
Stockholders' Equity
Common stock	42,085	42,320
Additional paid in capital	41,210,056	40,987,146
Retained earnings	23,243,847	22,336,134
Employee Stock Ownership Plan	(2,708,480)	(3,047,040)
2019 Equity Incentive Plan	2,357,994
Accumulated other comprehensive income	505,862	28,215
Total stockholders' equity	59,935,376	60,346,775	$ 21,603,330
Total liabilities and stockholders' equity	220,401,579	215,413,092
Parent Company
Assets
Cash in bank subsidiary	15,034,833	17,364,534
ESOP loan receivable	2,708,480	3,047,040
Investment in bank subsidiary	42,140,741	39,930,627
Other assets	57,454	10,074
Total assets	59,941,508	60,352,275
Liabilities
Other liabilities	6,132	5,500
Total liabilities	6,132	5,500
Stockholders' Equity
Common stock	42,085	42,320
Additional paid in capital	41,210,056	40,987,146
Retained earnings	23,243,847	22,336,134
Employee Stock Ownership Plan	(2,708,480)	(3,047,040)
2019 Equity Incentive Plan	(2,357,994)
Accumulated other comprehensive income	505,862	28,215
Total stockholders' equity	59,935,376	60,346,775
Total liabilities and stockholders' equity	$ 59,941,508	$ 60,352,275

Condensed Parent Company Only_4

Condensed Parent Company Only Financial Information - Condensed Statements of Operations (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest income
Interest on bank deposits	$ (5,200,071)	$ (17,775,425)
Total interest income	9,039,261	7,702,329
Non-interest expense
Professional fees	548,164	300,517
Other operating expenses	784,487	622,415
Total non-interest expense	6,776,719	5,834,576
Net income (loss) before tax expense (benefit)	1,275,982	896,127
Income tax expense (benefit)	368,269	223,005
Net income	907,713	673,122
Parent Company
Interest income
Income on ESOP loan	159,970	46,262
Interest on bank deposits	271,425	73,173
Total interest income	431,395	119,435
Non-interest expense
Professional fees	233,774	29,200
Other operating expenses	102,388	120,109
Total non-interest expense	336,162	149,309
Net income (loss) before tax expense (benefit)	95,233	(29,874)
Income tax expense (benefit)	26,206	6,274
Income (loss) before equity in undistributed earnings of Bank	69,027	(23,600)
Equity in undistributed earnings of Bank	838,686	696,722
Net income	$ 907,713	$ 673,122

Condensed Parent Company Only_5

Condensed Parent Company Only Financial Information -Condensed Statement of Cash Flows (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ (907,713)	$ (673,122)
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities	534,454	2,493,904
Cash flows from investing activities:
Net cash used in investing activities	(15,954,927)	(32,106,900)
Cash flows from financing activities:
Proceeds from issuance of common stock		40,939,748
Purchase of ESOP shares		(3,385,600)
Repurchase of common stock for 2019 Equity Incentive Plan	2,357,994
Repurchase of common stock	332,545
Net cash provided by financing activities	2,560,834	36,429,484
Cash and cash equivalents, beginning balance	18,846,760	12,030,272
Cash and cash equivalents, ending balance	5,987,121	18,846,760
Parent Company
Cash flows from operating activities:
Net income	907,713	673,122
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed net income of Bank	(838,686)	(696,722)
Increase in other assets	(47,381)	(10,074)
Increase in other liabilities	632	5,500
Net cash provided by operating activities	22,278	(28,174)
Cash flows from investing activities:
Capital injection into Bank from stock offering		(20,500,000)
Principal collected on ESOP loan	338,560	338,560
Net cash used in investing activities	338,560	(20,161,440)
Cash flows from financing activities:
Proceeds from issuance of common stock		40,939,748
Purchase of ESOP shares		(3,385,600)
Repurchase of common stock for 2019 Equity Incentive Plan	(2,357,994)
Repurchase of common stock	(332,545)
Net cash provided by financing activities	(2,690,539)	37,554,148
Net increase (decrease) in cash and cash equivalents	(2,329,701)	17,364,534
Cash and cash equivalents, beginning balance	17,364,534
Cash and cash equivalents, ending balance	$ 15,034,833	$ 17,364,534