CBM Bancorp (CBMB) 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Nov. 10, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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
Title of 12(b) Security	Common stock
Trading Symbol	CBMB
Security Exchange Name	NASDAQ
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		3,713,058
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38680
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	83-1095537
Entity Address, Address Line One	2001 East Joppa Road
Entity Address, City or Town	Baltimore
Entity Address, Postal Zip Code	21234
Entity Address, State or Province	MD
City Area Code	410
Local Phone Number	665-7600

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 483,036	$ 787,050
Interest-bearing deposits in other banks	32,679,107	5,200,071
Cash and cash equivalents	33,162,143	5,987,121
Time deposits in other banks	6,943,845	7,935,811
Securities available for sale, at fair value	19,263,462	37,090,591
Federal Home Loan Bank stock, at cost	410,900	300,400
Loans held for sale	4,061,870	1,730,430
Loans, net of unearned fees	160,896,761	159,624,611
Allowance for loan losses	(1,726,942)	(1,379,150)
Net loans	159,169,819	158,245,461
Accrued interest receivable	725,651	655,146
Bank-owned life insurance	4,812,942	4,723,825
Premises and equipment, net	1,759,728	1,828,666
Foreclosed real estate	775,000	845,000
Deferred income taxes	747,417	724,658
Prepaid expenses and other assets	352,801	334,470
Total assets	232,185,578	220,401,579
Liabilities
Noninterest-bearing deposits	31,793,786	19,780,866
Interest-bearing deposits	140,591,163	136,660,007
Total deposits	172,384,949	156,440,873
Advances by borrowers for taxes and insurance	643,518	538,516
Federal Home Loan Bank advances	5,000,000	2,500,000
Accounts payable and other liabilities	900,627	986,814
Total liabilities	178,929,094	160,466,203
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; authorized 1,000,000 shares; none issued
Common stock, $0.01 par value; authorized 24,000,000 shares; issued and outstanding 3,714,058 shares at September 30, 2020 and 4,208,505 shares at December 31, 2019	37,141	42,085
Additional paid in capital	34,837,661	41,210,056
Retained earnings	22,009,818	23,243,847
Unearned common stock held by:
Employee Stock Ownership Plan	(2,454,560)	(2,708,480)
2019 Equity Incentive Plan	(1,908,570)	(2,357,994)
Accumulated other comprehensive income	734,994	505,862
Total stockholders’ equity	53,256,484	59,935,376
Total liabilities and stockholders’ equity	$ 232,185,578	$ 220,401,579

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
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	3,714,058	4,208,505
Common stock, outstanding	3,714,058	4,208,505

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest and dividend income
Interest and fees on loans	$ 1,882,330	$ 1,848,479	$ 5,827,693	$ 5,400,671
Interest and dividends on investments	220,289	468,301	794,116	1,386,236
Total interest income	2,102,619	2,316,780	6,621,809	6,786,907
Interest expense
Interest on deposits	351,986	367,558	1,076,092	1,030,152
Interest on borrowings	17,776		53,937
Total interest expense	369,762	367,558	1,130,029	1,030,152
Net interest income	1,732,857	1,949,222	5,491,780	5,756,755
Provision for (reversal of) loan losses	25,000	(60,000)	350,000	90,000
Net interest income after provision for (reversal of) loan losses	1,707,857	2,009,222	5,141,780	5,666,755
Non-interest income
Service fees on deposit accounts	23,569	33,828	81,774	92,068
Income from bank-owned life insurance	51,471	57,933	89,117	95,561
Gain on sale of loans held for sale	341,450	29,661	628,268	63,933
Gain on sale of investment securities			143,223
Other non-interest income	36,340	33,462	96,789	100,239
Total non-interest income	452,830	154,884	1,039,171	351,801
Non-interest expense
Salaries, director fees and employee benefits	1,164,394	1,122,656	3,510,758	3,055,194
Premises and equipment	109,045	105,580	320,426	330,986
Data processing	143,430	140,979	427,848	419,559
Professional fees	141,519	140,315	389,172	425,452
FDIC premiums and regulatory assessments	24,662	18,722	57,836	76,648
Marketing	19,887	25,524	49,204	97,881
Provision for losses and costs on foreclosed real estate	3,820	4,040	81,810	33,214
Other operating expenses	187,536	187,603	532,097	565,319
Total non-interest expense	1,794,293	1,745,419	5,369,151	5,004,253
Income before income taxes	366,394	418,687	811,800	1,014,303
Income tax expense	115,552	116,980	256,579	268,218
Net income	$ 250,842	$ 301,707	$ 555,221	$ 746,085
Earnings per common share
Basic	$ 0.07	$ 0.08	$ 0.15	$ 0.19
Diluted	$ 0.07	$ 0.08	$ 0.15	$ 0.19

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 250,842	$ 301,707	$ 555,221	$ 746,085
Other comprehensive (loss) income
Unrealized (loss) gain on investment securities available for sale	(50,353)	(24,776)	459,344	666,443
Reclassification adjustment for realized gain on investment securities available for sale included in net income			(143,223)
Total unrealized (loss) gain on investment securities available for sale	(50,353)	(24,776)	316,121	666,443
Income tax benefit (expense) relating to investment securities available for sale	13,855	6,818	(86,989)	(183,388)
Other comprehensive (loss) income	(36,498)	(17,958)	229,132	483,055
Total comprehensive income	$ 214,344	$ 283,749	$ 784,353	$ 1,229,140

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
Balance at Dec. 31, 2018	$ 60,346,775	$ 42,320	$ 40,987,146	$ 22,336,134	$ (3,047,040)		$ 28,215
Net income	746,085			746,085
Other comprehensive income (loss)	483,055						483,055
ESOP shares to be released	340,253		86,333		253,920
Repurchase of common stock for 2019 Equity Incentive Plan	(1,409,321)					$ (1,409,321)
Stock based compensation	260,476		260,476
Balance at Sep. 30, 2019	60,767,323	42,320	41,333,955	23,082,219	(2,793,120)	(1,409,321)	511,270
Balance at Jun. 30, 2019	61,108,329	42,320	41,131,468	22,780,512	(2,877,760)	(497,439)	529,228
Net income	301,707			301,707
Other comprehensive income (loss)	(17,958)						(17,958)
ESOP shares to be released	115,957		31,317		84,640
Repurchase of common stock for 2019 Equity Incentive Plan	(911,882)					(911,882)
Stock based compensation	171,170		171,170
Balance at Sep. 30, 2019	60,767,323	42,320	41,333,955	23,082,219	(2,793,120)	(1,409,321)	511,270
Balance at Dec. 31, 2019	59,935,376	42,085	41,210,056	23,243,847	(2,708,480)	(2,357,994)	505,862
Net income	555,221			555,221
Other comprehensive income (loss)	229,132						229,132
Cash dividends $0.50 per share	(1,789,250)			(1,789,250)
ESOP shares to be released	325,017		71,097		253,920
Vesting of restricted stock awards			(449,424)			449,424
Repurchase of common stock	(6,526,595)	(4,944)	(6,521,651)
Stock based compensation	527,583		527,583
Balance at Sep. 30, 2020	53,256,484	37,141	34,837,661	22,009,818	(2,454,560)	(1,908,570)	734,994
Balance at Jun. 30, 2020	53,771,553	37,988	35,650,867	21,758,976	(2,539,200)	(1,908,570)	771,492
Net income	250,842			250,842
Other comprehensive income (loss)	(36,498)						(36,498)
ESOP shares to be released	104,953		20,313		84,640
Repurchase of common stock	(1,018,340)	(847)	(1,017,493)
Stock based compensation	183,974		183,974
Balance at Sep. 30, 2020	$ 53,256,484	$ 37,141	$ 34,837,661	$ 22,009,818	$ (2,454,560)	$ (1,908,570)	$ 734,994

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	9 Months Ended
	Sep. 30, 2020$ / shares
Cash paid, dividends per share	$ 0.50
Retained Earnings
Cash paid, dividends per share	$ 0.50

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 555,221	$ 746,085
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion of securities	38,447	39,773
Gain on sale of loans held for sale	(628,268)	(63,933)
Originations of loans held for sale	(25,481,939)	(4,957,118)
Proceeds from sales of loans held for sale	23,778,767	3,478,575
Gain on sale of investment securities	(143,223)
Amortization of deferred loan origination costs, net of fees	(218,621)	(196,565)
Provision for loan losses	350,000	90,000
Increase in accrued interest receivable	(70,505)	(1,704)
Increase in cash surrender value of life insurance	(89,117)	(95,561)
Depreciation and amortization	108,397	121,459
ESOP compensation expense	325,017	340,253
Stock based compensation expense	527,583	260,476
Writedown of foreclosed real estate	70,000	20,000
Deferred income tax benefit, net	(109,748)	17,681
Increase in prepaid expenses and other assets	(18,331)	(187,792)
Decrease in accounts payable and other liabilities	(86,187)	203,745
Net cash used in operating activities	(1,092,507)	(184,626)
Cash flows from investing activities:
Net maturities (purchases) of time deposits in other banks	992,000	(1,736,000)
Purchases of available for sale securities		(17,621,389)
Proceeds from maturities, payments and calls of available for sale securities	10,935,223	13,921,440
Proceeds from sales of investment securities	7,312,769
Purchases of Federal Home Loan Bank stock	(110,500)	(33,900)
Net increase in loans	(1,055,737)	(3,298,042)
Purchases of premises and equipment	(39,459)	(46,449)
Net cash provided by (used in) investing activities	18,034,296	(8,814,340)
Cash flows from financing activities:
Net increase in deposits	15,944,076	1,497,315
Net increase in advances by borrowers	105,002	217,548
Net increase in FHLB advances	2,500,000
Repurchase common stock	(6,526,595)	(1,409,321)
Cash dividends on common stock	(1,789,250)
Net cash provided by financing activities	10,233,233	305,542
Net increase (decrease) in cash and cash equivalents	27,175,022	(8,693,424)
Cash and cash equivalents, beginning balance	5,987,121	18,846,760
Cash and cash equivalents, ending balance	33,162,143	10,153,336
Supplemental disclosure of cash flows information:
Cash paid for interest	1,130,708	1,030,031
Cash paid for income taxes	$ 525,000	$ 190,000

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	CBM Bancorp, Inc. No te 1. Significant Accounting Policies Basis of Presentation 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. Note 1. Significant Accounting Policies (Continued) The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Operating results for the three and nine months ended September 30, 2020, are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or any other period. For further information, refer to the Bank’s annual audited consolidated financial statements and related notes for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K dated March 27, 2020. 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 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 U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the 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. Note 1. Significant Accounting Policies (Continued) Time Deposits in Other Banks The Bank uses financial instruments to supplement the investment securities portfolio. Interest income is recognized as earned. Purchase premiums and discounts are recognized as part of interest income using the interest method over the terms of the investments. Realized gains and losses on the sale of time deposits in other banks are included in earnings based on the trade date and are determined using the specific identification method. Time deposits in other banks are not marked to market. Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designation as of each balance sheet date. Securities that the Bank has the positive intent and ability to hold to maturity are classified as held to maturity and are reported at amortized cost (including amortization of premium or accretion of discount). Securities classified as available for sale are carried at fair value and are those securities that the Bank intends to hold for an indefinite period of time but not necessarily to maturity. Unrealized gains and losses are reported as increases or decreases in other comprehensive income. Realized gains and losses, determined on the basis of the cost of the specific securities sold, are included in earnings on a trade date basis. Premiums and discounts are recognized in interest income using a method which approximates the interest method over the terms of the securities. Declines in the fair value of available for sale securities below their cost that are deemed to be other than temporary, if any, are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Federal Home Loan Bank Stock Federal Home Loan Bank of Atlanta (“FHLB”) stock is an equity interest in the FHLB, which does not have a readily determinable fair value for purposes of U.S. GAAP 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 income, and loan origination fees, net of certain direct origination costs are deferred at origination of the loan and are recognized in non-interest income upon sale of the loan. The Bank’s current practice is to sell residential mortgage loans on a servicing released basis, and, therefore, it has no intangible asset recorded for the value of such servicing. Interest on loans held for sale is credited to income based on the principal amounts outstanding. Note 1. Significant Accounting Policies (Continued) 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. The fair value of rate lock commitments was considered immaterial at September 30, 2020 and December 31, 2019 and an adjustment was not recorded. Loans held for sale that are not ultimately sold, but instead are placed into the Bank’s portfolio, are reclassified as loans held for investment and recorded at fair value. Loans Loans are generally carried at the amount of unpaid principal, less the allowance for loan losses and adjusted for deferred loan origination fees and costs, which are recognized over the term of the loan as an adjustment to yield using a method that approximates the interest method. Interest on loans is accrued based on the principal amounts outstanding. It is the Bank’s policy to discontinue the accrual of interest when the principal or interest is delinquent for 90 days or more, or if collection of principal and interest in full is in doubt. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. The carrying value of impaired loans is based on the present value of the loan’s expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral. Impaired loans also include certain loans that have been modified in a troubled debt restructuring (“TDR”) to make concessions to help a borrower remain current on the loan and/or to avoid foreclosure. These concessions typically result from the Bank’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Generally, nonaccrual loans that are modified and are considered TDRs are classified as nonperforming at the time of the restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to earnings. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Bank maintains the allowance at a level believed, to the best of management’s knowledge, to cover all known and inherent losses in the portfolio that are both probable and reasonable to estimate at each reporting date. The evaluation process by portfolio segment includes, among other things, an analysis of delinquency trends, non-performing loan trends, the level of charge-offs and recoveries, prior loss experience, total loans outstanding, the volume of loan originations, the type, size and geographic concentration of the loans, the value of collateral securing the loan, the borrower’s ability to repay and repayment performance, the number of loans requiring heightened management oversight, local economic conditions and industry experience. Note 1. Significant Accounting Policies (Continued) 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 September 30, 2020 and December 31, 2019, $121,570 and $122,118, respectively, was included in other liabilities related to the split-dollar insurance policies. Note 1. Significant Accounting Policies (Continued) Premises and Equipment Land is carried at cost. Property and equipment is carried at cost less accumulated depreciation. Depreciation is computed on the straight-line method over estimated useful lives of assets. Amortization of leasehold improvements is recognized on a straight-line basis over the term of the lease or the life of the improvement, whichever is shorter. The cost of maintenance and repairs is charged to expense as incurred whereas improvements are capitalized. The range of estimated useful lives for premises and equipment are as follows: Buildings and land improvements 5 - 50 years Leasehold improvements 10 - 15 years Furniture, fixtures and equipment 3 - 10 years Automobile 5 years Foreclosed Real Estate Real estate acquired through foreclosure or other means is recorded at the fair value of the related real estate collateral at the transfer date less estimated selling costs. Losses incurred at the time of the acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated fair value of the property are included in noninterest expense. Costs to maintain foreclosed real estate are expensed as incurred. Employee Stock Ownership Plan 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. Note 1. Significant Accounting Policies (Continued) 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 In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. These commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized on the balance sheet. Such financial instruments are recorded when they are funded. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments is represented by the contractual amount of these instruments. The Bank uses the same credit policies for these instruments as it does for the on-balance sheet instruments. Concentrations of Credit Risk The Bank did not have deposits in other financial institutions in excess of amounts insured by the FDIC, as of September 30, 2020 and December 31, 2019. The Bank’s management considers deposits in excess of amounts insured by the FDIC to be 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. Coronavirus Aid, Relief, and Economic Security Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law. The CARES Act creates a forbearance program for federally backed mortgage loans, protects borrowers from negative credit reporting due to loan accommodations related to the National Emergency, and provides financial institutions the option to temporarily suspend certain requirements under U.S. GAAP related to TDRs for a limited period of time to account for the effects of COVID-19. Recent Accounting Pronouncements ASU 2016-02, Leases (Topic 842) . This ASU provides certain targeted improvements to align lessor accounting with the lessee accounting model. This update will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, including interim reporting periods within that reporting period, for public business entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain a smaller reporting company, we will adopt the amendments in this update beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. A modified retrospective approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The adoption of this ASU is not expected to have a material effect on the Company’s consolidated financial position, results of operations or cash flows. Note 1. Significant Accounting Policies (Continued) ASU 2016-13, Financial Instruments – Credit Losses . The ASU sets forth a “current expected credit loss” (CECL) model which requires the Bank to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. Entities will apply the standard’s provisions as a cumulative-effect (i.e., modified retrospective approach). The Company has begun to gather loan information and consider acceptable methodologies to comply with this ASU. The Company’s initial evaluation indicates that the provisions of this ASU are expected to impact its consolidated financial statements, in particular the level of reserve for loan losses and is continuing to evaluate and assess the impact of the adoption of this ASU on its consolidated financial statements. On October 16, 2019, the FASB approved its proposal to delay the effective date for smaller reporting companies, as defined by the SEC, and other non-SEC reporting entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain a smaller reporting company, we will adopt the amendments in this update beginning after December 15, 2022, including interim periods within those fiscal years.

Securities

Securities	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Securities	N ote 2 . Securities The amortized cost and estimated fair value of securities classified as available for sale at September 30, 2020 and December 31, 2019, are as follows: September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government and Federal Agency obligations $ 3,499,385 $ 68,354 $ — $ 3,567,739 Residential mortgage-backed securities 14,750,047 945,676 — 15,695,723 $ 18,249,432 $ 1,014,030 $ — $ 19,263,462 December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 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 Note 2 . Securities (Continued) Proceeds from the sale of available for sale securities totaled $7,312,769 realizing gross gains of $143,223 for the nine months ended September 30, 2020 . There were no sales of investment securities for the three months ended September 30, 2020 or for the three and nine months ended September 30, 2019. The amortized cost and estimated fair value of securities as of September 30, 2020 and December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2020 Securities Available for Sale Amortized Fair Cost Value Due in one year or less $ — $ — Due after one year through five years 3,499,385 3,567,739 Due five years to ten years — — Due after ten years — — Mortgage-backed, in monthly installments 14,750,047 15,695,723 $ 18,249,432 $ 19,263,462 December 31, 2019 Securities Available for Sale Amortized Fair Cost 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 The Bank did not have any securities with gross unrealized losses at September 30, 2020. Securities with gross unrealized losses at December 31, 2019 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 Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses 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 Note 2. Securities (Continued) At December 31, 2019, the Bank held seven investments with gross unrealized losses totaling $48,643. 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. 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 There were no securities pledged as of September 30, 2020 and December 31, 2019.

Loans

Loans	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Loans	Note 3. Loans The Bank currently manages its credit products and respective exposure to credit losses by the following specific portfolio segments which are levels at which the Bank develops and documents its systematic methodology to determine the allowance for loan losses attributable to each respective portfolio segment. The segments are: • One-to four-family real estate loans – This residential real estate category contains permanent mortgage loans and construction permanent mortgage loans to consumers secured by residential real estate. Residential real estate loans are evaluated for the adequacy of repayment sources at the time of approval, based upon measures including credit scores, debt-to-income ratios, and collateral values. Loans may either be conforming or non-conforming. • Home equity loans and lines of credit – This residential real estate category includes mortgage loans and lines of credit secured by one-to four-family residential real estate. These loans are typically secured with second mortgages on the homes. • Construction and land development – Commercial acquisition, development and construction loans are intended to finance the construction of commercial and residential properties and include loans for the acquisition and development of land. Construction loans represent a higher degree of risk than permanent real estate loans and may be affected by a variety of factors such as the borrower’s ability to control costs and adhere to time schedules and the risk that constructed units may not be absorbed by the market within the anticipated time frame or at the anticipated price. The loan commitment on these loans often includes an interest reserve that allows the lender to periodically advance loan funds to pay interest charges on the outstanding balance of the loan. • Nonresidential real estate loans – Nonresidential real estate loans consist of commercial permanent mortgage loans and commercial construction permanent mortgage loans secured by owner occupied and non-owner occupied properties. Owner occupied commercial property loans involve a variety of property types to conduct the borrower’s operations. The primary source of repayment for this type of loan is the cash flow from the business and is based upon the borrower’s financial health and ability of the borrower and the business to repay. Non-owner occupied commercial property loans involve investment properties for warehouse, retail, and office space with a history of occupancy and cash flow. This real estate category contains commercial mortgage loans to the developers and owners of commercial real estate where the borrower intends to operate or sell the property at a profit and use the income stream or proceeds from the sale to repay the loan. Note 3. (Continued) • Commercial loans - Commercial loans are made to provide funds for equipment and general corporate needs. Repayment of the loan primarily uses the funds obtained from the operation of the borrower’s business. Commercial loans also include lines of credit that are utilized to finance a borrower’s short-term credit needs and/or finance a percentage of eligible receivables and inventory. Commercial loans include Paycheck Protection Program loans. • Consumer loans – This category of loans includes primarily installment loans, personal lines of credit. Consumer loans include installment loans used by customers to purchase automobiles, boats and recreational vehicles. The Bank makes loans to customers primarily in the Baltimore Metropolitan Area and its surrounding counties. The principal loan portfolio segment balances at September 30, 2020 and December 31, 2019 were as follows: September 30, December 31, 2020 2019 Real estate loans One-to four-family $ 68,013,481 $ 74,655,376 Home equity loans and lines of credit 7,129,108 7,488,348 Construction and land development 10,862,487 9,260,520 Nonresidential 59,007,384 61,012,514 Total real estate loans 145,012,460 152,416,758 Other loans Commercial 15,907,233 6,946,372 Consumer 388,058 522,566 Total other loans 16,295,291 7,468,938 Total loans 161,307,751 159,885,696 Net deferred loan origination fees and costs (410,990 ) (261,085 ) Allowance for loan losses (1,726,942 ) (1,379,150 ) Total loans, net $ 159,169,819 $ 158,245,461 Overdraft deposits are reclassified as consumer loans and are included in the total loans on the balance sheet. Overdrafts were $11,940 and $25,714 at September 30, 2020 and December 31, 2019, respectively. Nonresidential real estate loans entail greater risks compared to residential real estate loans because they typically involved larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment of loans secured by income-producing properties typically depends on the successful operation of the company, as repayment of the loan generally is dependent, in large part, on the sufficient income for the property to cover operating expenses and debt service. Changes in economic conditions, such as the COVID-19 pandemic, that are not in the control of the borrower or lender could negatively impact the value of the collateral for the loan or the future cash flow of the property. Additionally, any decline in real estate values may be more pronounced for nonresidential real estate than residential properties. Note 3. Loans (Continued) The following table provides information regarding our nonresidential real estate loans by type at September 30, 2020. Type of Loan Number of Loans Balance Office 30 $ 15,105,392 Retail 17 12,855,719 Warehouse/Industrial 14 9,222,020 Apartment/Multifamily 16 8,253,129 Hotel 5 7,464,660 Other 13 3,989,561 Restaurant 4 1,223,480 Religious/Church Related 4 893,423 103 $ 59,007,384 Paycheck Protection Program The CARES Act authorized the Small Business Administration (“SBA”) to temporarily guarantee loans under a new 7(a) loan program called the Paycheck Protection Program (“PPP”). As a qualified SBA lender, we were automatically authorized to originate PPP loans. An eligible business was able apply for a PPP loan up to the lesser of: (1) 2.5 times its average monthly “payroll costs,” or (2) $10.0 million dollars. PPP loans have: (a) an interest rate of 1.0%, (b) a two-year or five-year loan term to maturity depending on the date of loan origination; and (c) principal and interest payments deferred for six months from the date of disbursement. The SBA will guarantee 100% of the PPP loans made to eligible borrowers. The entire principal amount of the borrower’s PPP loan, including accrued interest, is eligible to be reduced by the loan forgiveness amount under the PPP so long as employee and compensation levels of the business entity are maintained and 60% of the loan proceeds are used for payroll expenses, with the remaining 40% of the loan proceeds used for other qualifying expenses. We limited our investment in PPP loans to 20% of the Bank’s capital or approximately $8.6 million in loans. As of September 30, 2020, we have 101 PPP loan outstanding to qualified borrowers for $8,563,898, with deferred fees relating to PPP loans in the amount of $243,651.

Credit Quality of Loans and the

Credit Quality of Loans and the Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Credit Quality of Loans and the Allowance for Loan Losses	Note 4 . Credit Quality of Loans and the Allowance for Loan Losses The allowance for loan losses is maintained at a level to provide for losses that are probable and can be reasonably estimated. Management’s periodic evaluation of the adequacy of the allowance is based on the Bank’s past loan loss experience, known and inherent losses in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change, including the amounts and timing of future cash flows expected to be received on impaired loans. The allowance consists of specific, general, and unallocated components. The specific component relates to loans that are classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. Determinations as to the classification of assets and the amount of loss allowances are subject to review by our principal federal regulator, the Office of the Comptroller of the Currency, which can require that we establish additional loss allowances. The Bank regularly reviews its asset portfolio to determine whether any assets require classification in accordance with applicable regulations. Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) A loan is considered past due or delinquent when a contractual payment is not paid on the day it is due. A loan in considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for all loans secured by real estate by the fair value of the collateral if the loan is collateral dependent. If the loan repayment is not deemed collateral dependent, impairment is measured on the net present value of the expected discounted future cash flows. Loans are automatically placed on non-accrual status when payment of principal or interest is more than 90 days delinquent. Loans are also placed on non-accrual status if collection of principal or interest in full is in doubt or if the loan has been restructured. When loans are placed on non-accrual status, unpaid accrued interest is fully reversed, and further income is recognized only to the extent received. The loan may be returned to accrual status if unpaid principal and interest are repaid so that the loan is less than 90 days delinquent. The Bank’s charge-off policy states after all collection efforts have been exhausted, the loan is deemed to be a loss and the amount has been determined, the loss amount will be charged to the allowance for loan losses. The following tables summarize the activity in the allowance for losses for the three and nine months ended September 30, 2020 and 2019 and for the year ended December 31, 2019 and the distribution of the allowance for loan losses and loans receivable by loan portfolio class and impairment method as of September 30, 2020, September 30, 2019 and December 31, 2019. Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) As of September 30, 2020 One –to Four- Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses Beginning Balance – July 1, 2020 $ 392,464 $ 69,399 $ 203,512 $ 865,760 $ 90,880 $ 5,173 $ 73,663 $ 1,700,851 Charge-offs — — — — — — — — Recoveries — 1,091 — — — — — 1,091 Provision (34,396) (4,460 ) 33,290 29,089 3,963 (749 ) (1,737 ) 25,000 Ending Balance – September 30, 2020 $ 358,068 $ 66,030 $ 236,802 $ 894,849 $ 94,843 $ 4,424 $ 71,926 $ 1,726,942 Beginning Balance – January 1, 2020 $ 331,605 $ 62,603 $ 179,541 $ 683,453 $ 55,571 $ 6,950 $ 59,427 $ 1,379,150 Charge-offs — — (263 ) — — (3,633 ) — (3,896 ) Recoveries — 1,688 — — — — — 1,688 Provision 26,463 1,739 57,524 211,396 39,272 1,107 12,499 350,000 Ending Balance – September 30, 2020 $ 358,068 $ 66,030 $ 236,802 $ 894,849 $ 94,843 $ 4,424 $ 71,926 $ 1,726,942 Ending balance: individually evaluated for impairment $ — $ 270 $ — $ — $ — $ — $ — $ 270 Ending balance: collectively evaluated for impairment $ 358,068 $ 65,760 $ 236,802 $ 894,849 $ 94,843 $ 4,424 $ 71,926 $ 1,726,672 Loans: Ending balance $ 68,013,481 $ 7,129,108 $ 10,862,487 $ 59,007,384 $ 15,907,233 $ 388,058 $ 161,307,751 Ending balance: individually evaluated for impairment $ 453,557 $ 58,152 $ — $ — $ — $ — $ 511,709 Ending balance: collectively evaluated for impairment $ 67,559,924 $ 7,070,956 $ 10,862,487 $ 59,007,384 $ 15,907,233 $ 388,058 $ 160,796,042 Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) As of September 30, 2019 One –to Four- Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses: Beginning Balance – July 1, 2019 $ 340,637 $ 60,589 $ 165,934 $ 583,285 $ 55,079 $ 6,404 $ 76,588 $ 1,288,516 Charge-offs (40,275 ) — — — — — — (40,275 ) Recoveries — — — 114,470 — — — 114,470 Reversal of provision 21,542 (5,436 ) 17,464 (94,637 ) (1,527 ) 504 2,090 (60,000 ) Ending Balance – September 30, 2019 $ 321,904 $ 55,153 $ 183,398 $ 603,118 $ 53,552 $ 6,908 $ 78,678 $ 1,302,711 Beginning Balance – January 1, 2019 $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Charge-offs (90,111 ) — — — — — — (90,111 ) Recoveries — — — 114,470 — — — 114,470 Provision 167,234 (13,684 ) (1,772 ) (137,383 ) 24,673 239 50,693 90,000 Ending Balance – September 30, 2019 $ 321,904 $ 55,153 $ 183,398 $ 603,118 $ 53,552 $ 6,908 $ 78,678 $ 1,302,711 Ending balance: individually evaluated for impairment $ — $ 737 $ 13,184 $ — $ — $ — $ — $ 13,921 Ending balance: collectively evaluated for impairment $ 321,904 $ 54,416 $ 170,214 $ 603,118 $ 53,552 $ 6,908 $ 78,678 $ 1,288,790 Loans: Ending balance $ 70,415,865 $ 6,889,663 $ 9,089,247 $ 53,585,416 $ 6,694,040 $ 543,943 $ 147,218,174 Ending balance: individually evaluated for impairment $ 310,585 $ 87,601 $ 826,438 $ 1,592,485 $ — $ — $ 2,817,109 Ending balance: collectively evaluated for impairment $ 70,105,280 $ 6,802,062 $ 8,262,809 $ 51,992,931 $ 6,694,040 $ 543,943 $ 144,401,065 Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) As of December 31 One –to Four- Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Beginning Balance – January 1, 2019 $ 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 – December 31, 2019 $ 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 Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) As part of the ongoing monitoring of the credit quality of the Bank’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grade of classified loans, net chargeoffs, nonperforming loans, credit scores, and the general economic conditions in the Bank’s market area. The Bank utilizes an internal rating system to monitor the credit quality of the overall loan portfolio. A description of the general characteristics is as follows: • Pass – A pass loan is considered of sufficient quality to preclude a special mention or an adverse rating. Pass assets are generally well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral. The pass classification also includes watch credits which have all of the characteristics of a pass loan but warrant more than the normal level of supervision. • Special mention – A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Bank’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. • Substandard – A substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the collection or liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. This will be the measurement for determining if a loan is impaired. • Doubtful – A doubtful loan has all of the weaknesses inherent in a substandard credit with the added factor that the weaknesses make the collection or liquidation in full, on the basis of current information, conditions and values, highly questionable and improbable. Loans in this category must be placed on non-accrual status and all payments applied to principal recapture. Doubtful classification should be used only when a distinct possibility of loss exists. When identified, adequate loss should be recorded for the specific assets. It is not necessary to classify an entire credit doubtful when collection of a specific portion appears highly probable. • Loss – A loan classified as loss is considered uncollectable and of such little value that continuance as a loan in unjustified. A loss classification does not mean that the credit has absolutely no value; partial recoveries may be received in the future. Amounts classified as loss must be charged-off in the period in which they are deemed uncollectible. When assets are classified as impaired, the Bank allocates a portion of the related general loss allowances to such assets as the Bank deems prudent. Determinations as to the classification of assets and the amount of loss allowances are subject to review by our principal federal regulator, the Office of the Comptroller of the Currency, which can require that we establish additional loss allowances. The Bank regularly reviews its asset portfolio to determine whether any assets require classification in accordance with applicable regulations. Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) The following table is a summary of the loan portfolio quality indicators by loan class recorded investment as of September September 30, 2020 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Grade: Pass $ 67,559,924 $ 7,107,800 $ 10,862,487 $ 59,007,384 Special Mention — — — — Substandard 453,557 21,308 — — Doubtful — — — — $ 68,013,481 $ 7,129,108 $ 10,862,487 $ 59,007,384 Commercial Consumer Totals Grade: Pass $ 15,907,233 $ 388,058 $ 160,832,886 Special Mention — — — Substandard — — 474,865 Doubtful — — — $ 15,907,233 $ 388,058 $ 161,307,751 December 31, 2019 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development 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 Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) The following table sets forth certain information with respect to our loan portfolio delinquencies by loan class and amount as of September September 30, 2020 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment > 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ — $ — $ 180,974 $ 180,974 $ 67,832,507 $ 68,013,481 $ — $ 453,557 Home equity loans and lines of credit — — — — 7, 129,108 7,129,108 — 21,308 Construction and land development — — — — 10,862,487 10,862,487 — — Nonresidential — — — — 59,007,384 59,007,384 — — Other loans: Commercial — — — — 15,907,233 15,907,233 — — Consumer — — — — 388,058 388,058 — — Total loans $ — $ — $ 180,974 $ 180,974 $ 161,126,777 $ 161,307,751 $ — $ 474,865 December 31, 2019 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment > 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ 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 Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) At September 30, 2020 and December 31, 2019 there were no loans 90 days past due and still accruing interest. At September 30, 2020, the Bank had six loans on non-accrual status with foregone interest in the amount of $9,085. At December 31, 2019, the Bank had seven loans on non-accrual status with foregone interest in the amount of $17,925. The CARES Act provided financial institutions the option, which the Bank has elected to apply, to temporarily suspend certain requirements under U.S. GAAP relating to TDRs for a limited period of time to account for the effects of COVID-19. Financial institutions were encouraged to work prudently with borrowers who are or may be unable to meet their contractual obligations because of the effects of COVID-19. Financial institutions generally do not need to categorize a COVID-19 related short-term modification as a TDR as long as the borrower was not experiencing financial difficulty prior to the effects of COVID-19. As of September 30, 2020, the Bank had received and approved requests to modify 61 loans due to the effects of COVID-19. The Bank’s modifications primarily consist of interest only payments with the deferral of principal for up to six months, dependent on the borrower and their financial situation. The breakdown of loan modifications due to the effects of COVID-19 by loan category is as follows: Number of loans Balance Real estate loans One-to four-family 21 $ 4,125,400 Home equity loans and lines of credit 3 262,854 Construction and land development 3 1,307,555 Nonresidential 24 18,442,953 Total real estate loans 51 24,138,762 Other loans Commercial 8 1,798,718 Consumer 2 53,959 Total other loans 10 1,852,677 Total loans 61 $ 25,991,439 Of the 61 loans modified due to the effects of COVID-19, all loans were in compliance with their loan modification agreements at September 30, 2020. The Bank accounts for impaired loans under U.S.GAAP 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. Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) The following table is a summary of impaired loans for the three and nine months ended September 30 Three Months Ended Nine Months Ended Impaired Loans at September 30, 2020 September 30, 2020 September 30, 2020 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance recorded: One-to four-family $ 453,557 $ 456,743 $ — $ 462,253 $ 8,183 $ 465,420 $ 17,363 Home equity loans and lines of credit 21,308 21,308 — 22,110 423 22,339 593 With an allowance recorded: Home equity loans and lines of credit $ 36,844 $ 36,844 $ 270 $ 36,851 $ 586 $ 38,643 $ 1,733 Total One-to four-family $ 453,557 $ 456,743 $ — $ 462,253 $ 8,183 $ 465,420 $ 17,363 Home equity loans and lines of credit 58,152 58,152 270 58,961 1,009 60,982 2,326 Three Months Ended Nine Months Ended Impaired Loans at September 30, 2019 September 30, 2019 September 30, 2019 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance recorded: One-to four-family $ 310,585 $ 314,605 $ — $ 311,238 $ 1,882 $ 314,072 $ 7,997 Home equity loans and lines of credit 46,080 46,080 — 46,080 668 47,043 1,408 Construction and land development 739,710 739,710 — 750,741 14,145 766,942 42,085 Nonresidential 1,592,485 1,592,485 — 1,600,167 16,673 1,615,077 49,542 With an allowance recorded: Home equity loans and lines of credit $ 41,521 $ 41,521 $ 737 $ 42,362 $ 659 $ 43,676 $ 2,202 Construction and land development 86,728 86,728 13,184 86,728 — 86,728 — Total One-to four-family $ 310,585 $ 314,605 $ — $ 311,238 $ 1,882 $ 314,072 $ 7,997 Home equity loans and lines of credit 87,601 87,601 737 88,441 659 90,718 3,610 Construction and land development 826,438 826,438 13,184 837,469 14,145 853,670 42,085 Nonresidential 1,592,485 1,592,485 — 1,600,167 16,673 1,615,077 49,542 Note 4. Credit Quality of Loans and the Allowance for Loan Losses (Continued) Impaired Loans at December 31, 2019 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded: One-to four-family $ 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 four-family $ 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 Impaired loans also include certain loans that have been modified in 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 September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 Number of Contracts Performing Nonperforming Total Home equity loans and lines of credit 1 $ 36,844 $ — $ 36,844 December 31, 2019 Number of Contracts Performing Nonperforming Total Home equity loans and lines of credit 1 $ 40,442 $ — $ 40,442 The Bank had one TDR at September 30, 2020 totaling $36,844 and one TDR at December 31, 2019 totaling $40,442. The Bank has no commitments to loan additional funds to borrowers whose loans have been modified. There were no nonperforming TDRs reclassified to nonperforming loans during the three and nine months ended September A default is considered to have occurred once the TDR is past due 90 days or more, or it has been placed on nonaccrual. If loans modified in a TDR subsequently default, the Bank evaluates the loan for possible further impairment. The allowance may be increased, adjustments may be made in the allocation of the allowance, or partial charge-offs may be taken to further write-down the carrying value of the loan

Foreclosed Real Estate

Foreclosed Real Estate	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Foreclosed Real Estate	Note 5 . Foreclosed Real Estate At September 30, 2020 and December 31, 2019, the Bank had $775,000 and $845,000 in foreclosed real estate, respectively. The Bank did not dispose of any foreclosed real estate during the three and nine months ended September 30, 2020 and 2019 and the twelve months ended December 31, 2019. Note 5. Foreclosed Real Estate (Continued) The following table summarizes changes in foreclosed real estate for the nine months ended September 30, 2020 and 2019 and for the year ended December 31, 2019, which are measured on a nonrecurring basis using significant unobservable, Level 3, inputs: September 30, December 31, 2020 2019 2019 Balance, beginning of period $ 845,000 $ 865,000 $ 865,000 Write-down of foreclosed real estate (70,000) (20,000) (20,000) Balance, end of period $ 775,000 $ 845,000 $ 845,000 At September 30, 2020 there were no residential real estate loans in the process of foreclosure. At December 31, 2019 there were no residential real estate loans in the process of foreclosure. At September 30, 2020 and December 31, 2019, there were no residential real estate properties included in foreclosed real estate.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2020
Deposits [Abstract]
Deposits	Note 6 . Deposits Deposits are summarized as follows: September 30, 2020 December 31, 2019 Noninterest-bearing demand $ 31,793,786 $ 19,780,866 Interest-bearing demand 25,094,527 23,779,145 Money market 10,092,514 10,242,323 Savings 26,482,046 24,295,700 Certificates of deposit 78,922,076 78,342,839 Total deposits $ 172,384,949 $ 156,440,873 Deposit accounts in the Bank are federally insured up to $250,000 per depositor. The aggregate amount of certificates of deposit with balances of $250,000 or more totaled $17,232,194 and $14,113,578 at September 30, 2020 and December 31, 2019, respectively. At September 30, 2020 certificates of deposit and their remaining maturities were as follows: September 30, 2021 $ 36,677,340 2022 17,436,787 2023 12,531,165 2024 7,150,190 2025 5,126,594 $ 78,922,076 Deposit balances of officers and directors totaled $957,418 and $419,857 at September 30, 2020 and December 31, 2019, respectively.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Borrowings	Note 7 . Borrowings The Bank has advances outstanding from the FHLB. A schedule of borrowings is as follows: September 30, 2020 December 31, 2019 Advance Amount Rate Maturity Date Advance Amount Rate Maturity Date $ 5,000,000 0.95 % 03/06/2023 $ 2,500,000 1.78 % — $ 5,000,000 $ 2,500,000 The advance at December 31, 2019 was an overnight advance that was repaid in March 2020. The Bank has an agreement with the Federal Home Loan Bank of Atlanta (“FHLB”) that allows it to obtain advances secured by assets owned by the Bank. Total advances are limited to 25% of the Bank’s total assets. As of September 30, 2020 and December 31, 2019, the Bank had availability of $58,700,000 and $55,100,000, respectively, and remaining credit availability of approximately $53,700,000 and $52,600,000, respectively, with FHLB. As of September 30, 2020 and December 31, 2019, the Bank pledged a portion of its one-to four-family residential mortgages as collateral. The amount of loans that were deemed eligible to pledge as collateral totaled approximately $50,800,000 and $52,700,000 at September 30, 2020 and December 31, 2019, respectively. The Bank also has a $2,000,000 unsecured federal funds line of credit available with another financial institution, for which no amounts were outstanding as of September 30, 2020 and December 31, 2019.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock Ownership Plan	Note 8. Employee Stock Ownership Plan In connection with the Bank’s mutual to stock conversion in September 2018, the Bank established the Chesapeake Bank of Maryland ESOP for all eligible employees. The Bank intends to make annual contributions to the ESOP that at a minimum will permit the ESOP to repay the principal and interest due on the ESOP debt. However, the Bank may prepay the principal of the note, partially or in full and without penalty or premium at any time and from time to time without prior notice to the holder. Any dividends declared on Company common stock held by the ESOP and not allocated to the account of a participant can be used to repay the loan. As the ESOP loan is repaid, shares of Company common stock pledged as collateral for the loan are released from the loan suspense account for allocation to Plan participants on the basis of each active participant’s proportional share of compensation. Participants vest 100% in their ESOP allocations after three years of service. In connection with the implementation of the ESOP, participants were given credit for past service with the Bank for vesting purposes. Participants will become fully vested upon age 65, death or disability, a change in control, or termination of the ESOP. Generally, participants will receive distributions from the ESOP upon separation from service. The plan reallocates any unvested shares of common stock forfeited upon termination of employment among the remaining participants in the plan. The ESOP compensation expense was $104,953 and $325,017 and for the three and nine months ended September 30, 2020 and $115,957 and $340,253 for the three and nine months ended September 30, 2019. This amount represents the average fair market value of the shares of Company common stock allocated or committed to be released as of that date. The difference between the market price and the cost of shares committed to be released is recorded as an adjustment to additional paid-in capital. Dividends, if any, on allocated shares are recorded as a reduction of retained earnings and dividends, if any, on unallocated shares are recorded as a reduction of the debt service. At September 30, 2020, there were 270,848 shares not yet released having an aggregate market value of approximately $3,320,596.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	Note 9. 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 September 30, 2020, there were 169,280 restricted stock awards granted and 423,200 stock option awards granted under the 2019 Plan. Restricted Stock 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 is held in the Trust subject to the restricted stock award vesting requirements. 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. The following table presents a summary of the activity in the Company’s restricted stock for the periods ended: September 30, 2020 Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2020 161,320 $ 13.40 Granted 7,960 11.90 Vested (32,265 ) 13.40 Forfeited — — Nonvested at September 137,015 $ 13.31 Fair value of vested shares $ 395,569 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 $ — Note 9. Stock Based Compensation (Continued) The following table outlines the vesting schedule of the nonvested restricted stock awards as of September 30, 2020: Year Ending December 31, Number of Restricted Shares 2020 — 2021 32,265 2022 32,265 2023 37,041 2024 33,852 2025 1,592 137,015 The Company recorded compensation expense related to restricted stock awards of $113,450 and $330,566 during the three months and nine months ended September 30, 2020 and $108,973 and $165,828 during the three and nine months ended September 30, 2019. As of September 30, 2020, there was $1,651,045 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 3.7 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 directors based on these factors. The 2019 Plan participants will vest in their options at a rate no more rapid than 20% per year over a five-year period, beginning one year after the grant date of the option. Vested options will have an exercise period of ten years commencing on the date of grant. If service to the Company is terminated for any reason other than death, disability or change in control, the unvested options shall be forfeited. The Company recognizes compensation expense during the vesting period based on the fair value of the option on the date of the grant. The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on historical data. The Company uses historical data to estimate option exercise and post-vesting termination behavior. The expected term of the options granted represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury rate equal to the expected term of the option at the time of the grant. The fair value of options granted to date was determined using the following assumptions as of the grant date. Grant Date May 14, 2019 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 Grant Date May 21, 2020 Expected Stock Price Volatility 23.07% Expected Dividend Yield 0.00% Expected Term (In Years) 7.0 Risk-Free Rate 0.68% Fair Value of Options Granted $ 3.07 Note 9. Stock Based Compensation (Continued) The following table summarizes the Company’s stock option activity and related information for the periods ended: September 30, 2020 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at January 1, 2020 368,300 $ 13.40 8.7 Granted 54,900 11.90 9.7 Exercised — — — Forfeited — — — Outstanding at September 30, 2020 423,200 $ 13.21 8.8 Fair value of vested shares $ 903,072 December 31, 2019 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at January 1, 2019 — $ — Granted 368,300 13.40 9.4 Exercised — — — 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 $70,524 and $197,017 during the three and nine months ended September 30, 2020 and $62,197 and $94,648 during the three and nine months ended September 30, 2019. As of September 30, 2020, there was $1,048,486 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 3.8 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 $12.26 at September 30, 2020, the intrinsic value of the stock is currently less than the weighted average exercise price of the option.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Common Stock	Note 10. Common Stock 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. The repurchase program was equal to the number of restricted stock shares eligible to be granted in the 2019 Plan and 169,280 shares were repurchased during the year ending December 31, 2019. 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 period on the open market, in privately negotiated transactions, or in such other manner as will comply with applicable policy, laws and regulations. Note 10. Common Stock (Continued) The following table sets forth information in connection with repurchases of the Company’s shares of common stock during the periods listed, including the nine months ended September 30, 2020. Period Total Number of Shares Purchased Average Price Paid per Share Total Value of Shares Purchased as Part of Publicly Announced Plans Maximum Value of Shares That May Yet Be Purchased Under the Plan January 1 – 31, 2020 76,675 $ 14.23 $ 1,423,565 $ 4,576,435 February 1 – 29, 2020 7,500 14.34 1,531,121 4,468,879 March 1 – 31, 2020 262,588 13.55 5,089,565 910,435 April 1 – 30, 2020 8,084 11.38 5,181,581 818,419 May 1 – 31, 2020 21,700 11.94 5,440,665 559,335 June 1 – 30, 2020 33,200 12.05 5,840,800 159,200 July 1 – 31, 2020 12,900 12.19 5,998,057 1,943 August 1 – 31, 2020 161 12.07 6,000,000 — On August 18, 2020, upon completion of the previous plan dated December 31, 2019, the Board of Directors authorized a plan to repurchase up to an additional $3,500,000 of the Company’s outstanding common stock. The repurchases will be made during a one-year period on the open market, in privately negotiated transactions, or in such other manner as will comply with applicable policy, laws and regulations. Period Total Number of Shares Purchased Average Price Paid per Share Total Value of Shares Purchased as Part of Publicly Announced Plans Maximum Value of Shares That May Yet Be Purchased Under the Plan August 1 – 31, 2020 19,864 $ 12.03 $ 239,063 $ 3,260,937 September 1 – 30, 2020 51,500 12.04 859,140 2,640,860

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Note 11 . Earnings Per Common Share Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Net income available to common stockholders is net income to the Company. Unallocated common shares held by the ESOP are not included in the weighted average number of common shares outstanding for purposes of calculating earnings per share until they are committed to be released. 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. Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net income $ 250,842 $ 301,707 $ 555,221 $ 746,085 Weighted average common shares outstanding - basic 3,510,483 3,927,296 3,628,449 3,927,296 Weighted average common shares outstanding - dilutive 3,510,483 3,943,080 3,628,449 3,943,080 Earnings per common share, basic and diluted $ 0.07 $ 0.08 $ 0.15 $ 0.19

Regulatory Capital Requirements

Regulatory Capital Requirements	9 Months Ended
	Sep. 30, 2020
Banking And Thrift Disclosure [Abstract]
Regulatory Capital Requirements	N ote 1 2 . Regulatory Capital Requirements The Bank is subject to various regulatory capital requirements administered by Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s consolidated financial statements. These capital requirements were modified in 2013 with the Basel III capital rules, which establish a new comprehensive capital framework for U.S. banking organizations. The Bank became subject to the new rules on January 1, 2015, with a phase-in period for many of the new provisions which was fully phased in on January 1, 2019. As of September 30, 2020, the Company’s capital levels remained characterized as “well-capitalized” under the new rules. 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 September 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 September Actual Minimum Regulatory Capital Ratios under Basel III To Be Well Capitalized under Basel III Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of September 30, 2020: Common equity tier 1 capital (to risk-weighted assets) $ 43,028 27.33 % $ 10,234 >6.50% $ 10,234 >6.50% Total risk-based capital (to risk-weighted assets) 44,800 28.46 % 15,744 >10.0% 15,744 >10.0% Tier 1 capital (to risk-weighted assets) 43,028 27.33 % 12,595 > 8.0 % 12,595 >8.0 % Tier 1 capital (to average assets) 43,028 18.28 % 9,417 > 4.0 % 11,772 >5.0 % As of December 31, 2019: Common equity tier 1 capital (to risk-weighted assets) $ 41,635 27.74 % $ 9,569 >6.375% $ 9,757 >6.50% Total risk-based capital (to risk-weighted assets) 43,054 28.68 % 14,823 >9.875% 15,010 >10.0% Tier 1 capital (to risk-weighted assets) 41,635 27.74 % 11,821 >7.875% 12,008 >8.0 % Tier 1 capital (to average assets) 41,635 19.08 % 8,731 >4.000% 10,913 >5.0 %

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 1 3 . Fair Value Measurements ASC Topic 820 provides a framework for measuring and disclosing fair value under U.S. GAAP. ASC Topic 820 requires disclosures about the fair value of assets and liabilities recognized in the balance sheet in periods subsequent to initial recognition, whether the measurements are made on a recurring basis (for example, available-for-sale investment securities) or a nonrecurring basis (for example, impaired loans). ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Bank utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available-for-sale is recorded at fair value on a recurring basis. Additionally, from time to time, the Bank may be required to record at fair value all other assets on a nonrecurring basis, such as loans held for sale, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. ASC Topic 820 establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy is as follows: Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market for the asset or liability, for substantially the full term of the financial instrument. Note 13. Fair Value Measurements (Continued) Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement and based on the Bank’s own assumptions about market participants’ assumptions. The following is a description of the valuation methods used for instruments measured at fair value as the general classification of such instruments pursuant to the applicable valuation method. Fair value measurements on a recurring basis Securities available for sale – If quoted prices are available in an active market for identical assets, securities are classified within Level 1 of the hierarchy. If quoted market prices are not available, then fair values are estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and securities dare included within Level 2 of the hierarchy. As of September 30, 2020 and December 31, 2019 the Bank has categorized its investment securities available for sale as follows: Level 1 Level 2 Level 3 Total September 30, 2020 Securities available for sale: U.S. Government Agency and Federal Obligations $ — $ 3,567,739 $ — $ 3,567,739 Residential mortgage-backed securities 15,695,723 — 15,695,723 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 Fair value measurements on a nonrecurring basis Impaired loans – The Bank measures impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values. As of September 30, 2020 and December 31, 2019 the fair values consisted of loan balances of $511,709 and $2,828,148 that have been written down by $270 and $681, respectively, as a result of specific loan loss allowances. Foreclosed real estate – The Bank’s foreclosed real estate is measured at fair value less estimated cost to sell. As of September 30, 2020 and December 31, 2019, the fair value of foreclosed real estate was estimated to be $775,000 and $845,000, respectively. Fair value was determined based on offers and/or appraisals. Cost to sell the real estate was based on standard market factors. The Bank has categorized its foreclosed real estate as Level 3. Level 1 Level 2 Level 3 Total September 30, 2020 Impaired loans $ — $ — $ 511,439 $ 511,439 Foreclosed real estate — — 775,000 775,000 December 31, 2019 Impaired loans $ — $ — $ 2,827,467 $ 2,827,467 Foreclosed real estate — — 845,000 845,000 Note 13. Fair Value Measurements (Continued) The following table presents quantitative information about Level 3 fair value measurements for selected financial instruments measured at fair value on a non-recurring basis at September 30, 2020 and December 31, 2019: Fair Value Value Technique(s) Unobservable Inputs Range or Rate Used September 30, 2020 Impaired loans $ 511,439 Appraised value Discount to reflect current market conditions 0.00 % Discounted cash flows Discount rates 7.50 % Foreclosed real estate $ 775,000 Appraised value Discount to reflect current market conditions 10.92 % December 31, 2019 Impaired loans $ 2,827,467 Appraised value Discount to reflect current market conditions 0.00 % Discounted cash flows Discount rates 7.50 % Foreclosed real estate $ 845,000 Appraised value Discount to reflect current market conditions 10.11 % 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 September Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 33,162 $ 33,162 $ — $ — $ 33,162 Time deposits in other banks 6,944 — 7,264 — 7,264 Securities available for sale 19,263 — 19,263 — 19,263 Federal Home Loan Bank stock 411 — 411 — 411 Loans held for sale 4,062 — 4,168 — 4,168 Loans, net (1) 159,170 — — 163,272 163,272 Accrued interest receivable 726 — 726 — 726 Financial liabilities: Deposits 172,385 — 167,206 — 167,206 Borrowings 5,000 — 5,191 — 5,191 (1) Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion. Note 13. Fair Value Measurements (Continued) Fair Value Measurements at December 31, 2019 Using Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 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 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. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation 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. Note 1. Significant Accounting Policies (Continued) The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Operating results for the three and nine months ended September 30, 2020, are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or any other period. For further information, refer to the Bank’s annual audited consolidated financial statements and related notes for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K dated March 27, 2020.
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 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 U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the 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
Investment Securities	Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designation as of each balance sheet date. Securities that the Bank has the positive intent and ability to hold to maturity are classified as held to maturity and are reported at amortized cost (including amortization of premium or accretion of discount). Securities classified as available for sale are carried at fair value and are those securities that the Bank intends to hold for an indefinite period of time but not necessarily to maturity. Unrealized gains and losses are reported as increases or decreases in other comprehensive income. Realized gains and losses, determined on the basis of the cost of the specific securities sold, are included in earnings on a trade date basis. Premiums and discounts are recognized in interest income using a method which approximates the interest method over the terms of the securities. Declines in the fair value of available for sale securities below their cost that are deemed to be other than temporary, if any, are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock 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 income, and loan origination fees, net of certain direct origination costs are deferred at origination of the loan and are recognized in non-interest income upon sale of the loan. The Bank’s current practice is to sell residential mortgage loans on a servicing released basis, and, therefore, it has no intangible asset recorded for the value of such servicing. Interest on loans held for sale is credited to income based on the principal amounts outstanding. The Bank enters into commitments to originate residential mortgage loans whereby the interest rate on the loan is determined prior to funding (i.e., rate lock commitment). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between the issuance of a loan commitment and closing and sale of the loan generally ranges from 30 to 90 days. The Bank protects itself from changes in interest rates through the use of best efforts forward delivery commitments, whereby the investor commits to purchase a loan at a price representing a premium on the day the borrower commits to an interest rate with the intent that they buyer/investor has assumed the interest rate risk on the loan. As a result, the Bank is not generally exposed to losses on loans sold utilizing best efforts, nor will it realize gains related to rate lock commitments due to changes in interest rates. The fair value of rate lock commitments was considered immaterial at September 30, 2020 and December 31, 2019 and an adjustment was not recorded. Loans held for sale that are not ultimately sold, but instead are placed into the Bank’s portfolio, are reclassified as loans held for investment and recorded at fair value.
Loans	Loans Loans are generally carried at the amount of unpaid principal, less the allowance for loan losses and adjusted for deferred loan origination fees and costs, which are recognized over the term of the loan as an adjustment to yield using a method that approximates the interest method. Interest on loans is accrued based on the principal amounts outstanding. It is the Bank’s policy to discontinue the accrual of interest when the principal or interest is delinquent for 90 days or more, or if collection of principal and interest in full is in doubt. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. The carrying value of impaired loans is based on the present value of the loan’s expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral. Impaired loans also include certain loans that have been modified in a troubled debt restructuring (“TDR”) to make concessions to help a borrower remain current on the loan and/or to avoid foreclosure. These concessions typically result from the Bank’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Generally, nonaccrual loans that are modified and are considered TDRs are classified as nonperforming at the time of the restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is established through a provision for loan losses charged to earnings. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. The Bank maintains the allowance at a level believed, to the best of management’s knowledge, to cover all known and inherent losses in the portfolio that are both probable and reasonable to estimate at each reporting date. The evaluation process by portfolio segment includes, among other things, an analysis of delinquency trends, non-performing loan trends, the level of charge-offs and recoveries, prior loss experience, total loans outstanding, the volume of loan originations, the type, size and geographic concentration of the loans, the value of collateral securing the loan, the borrower’s ability to repay and repayment performance, the number of loans requiring heightened management oversight, local economic conditions and industry experience. The establishment of the allowance for loan losses is significantly affected by management’s judgment and uncertainties, and there is likelihood that different amounts would be reported under different conditions or assumptions. The Office of the Comptroller of the Currency as an integral part of its examination process periodically reviews the allowance for loan losses and may require the Bank to make additional provisions for estimated loan losses based upon judgments different from those of management. The Bank’s policies, consistent with regulatory guidelines, provide for the classification of loans and other assets that are considered to be of lesser quality as substandard, doubtful, or loss assets. An asset is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard assets include those assets characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Assets (or portions of assets) classified as loss, are those considered uncollectible and of such little value that their recognition as assets is not justified. Assets that do not expose us to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve close attention, are required to be designated as special mention. While the Bank utilizes available information to recognize losses on loans, future additions to the allowances for loan losses may be necessary based on changes in economic conditions, particularly in its’ market area primarily in the state of Maryland. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Actual loan losses may be significantly more than the allowance for loan and lease losses the Bank has established, which could have a material negative effect on our consolidated financial statements.
Bank-Owned Life Insurance ("BOLI")	Bank-Owned Life Insurance (“BOLI”) The Bank maintains life insurance policies on certain present and former directors. These policies are split-dollar or director insurance policies. Under the split-dollar insurance policies, the Bank pays the premiums and upon the death of the insured, the Bank will receive an amount equal to the premiums paid on the policy from the policy date to the date of death. Any remaining proceeds will be paid to the beneficiary. If the policy is surrendered before the date of death, the Bank will receive the lesser of the cash surrender value or the sum of the premiums paid on the policy from the policy date to the date of surrender. Under the director insurance policies, the Bank receives the cash surrender value if the policy is surrendered or receives all benefits payable upon the death of the insured. As of September 30, 2020 and December 31, 2019, $121,570 and $122,118, respectively, was included in other liabilities related to the split-dollar insurance policies.
Premises and Equipment	Premises and Equipment Land is carried at cost. Property and equipment is carried at cost less accumulated depreciation. Depreciation is computed on the straight-line method over estimated useful lives of assets. Amortization of leasehold improvements is recognized on a straight-line basis over the term of the lease or the life of the improvement, whichever is shorter. The cost of maintenance and repairs is charged to expense as incurred whereas improvements are capitalized. The range of estimated useful lives for premises and equipment are as follows: Buildings and land improvements 5 - 50 years Leasehold improvements 10 - 15 years Furniture, fixtures and equipment 3 - 10 years Automobile 5 years
Foreclosed Real Estate	Foreclosed Real Estate Real estate acquired through foreclosure or other means is recorded at the fair value of the related real estate collateral at the transfer date less estimated selling costs. Losses incurred at the time of the acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated fair value of the property are included in noninterest expense. Costs to maintain foreclosed real estate are expensed as incurred.
Employee Stock Ownership Plan	Employee Stock Ownership Plan 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 Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. These commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized on the balance sheet. Such financial instruments are recorded when they are funded. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments is represented by the contractual amount of these instruments. The Bank uses the same credit policies for these instruments as it does for the on-balance sheet instruments.
Concentrations of Credit Risk	Concentrations of Credit Risk The Bank did not have deposits in other financial institutions in excess of amounts insured by the FDIC, as of September 30, 2020 and December 31, 2019. The Bank’s management considers deposits in excess of amounts insured by the FDIC to be 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.
Coronavirus Aid, Relief, and Economic Security Act	Coronavirus Aid, Relief, and Economic Security Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law. The CARES Act creates a forbearance program for federally backed mortgage loans, protects borrowers from negative credit reporting due to loan accommodations related to the National Emergency, and provides financial institutions the option to temporarily suspend certain requirements under U.S. GAAP related to TDRs for a limited period of time to account for the effects of COVID-19.
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU 2016-02, Leases (Topic 842) . This ASU provides certain targeted improvements to align lessor accounting with the lessee accounting model. This update will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, including interim reporting periods within that reporting period, for public business entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain a smaller reporting company, we will adopt the amendments in this update beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. A modified retrospective approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The adoption of this ASU is not expected to have a material effect on the Company’s consolidated financial position, results of operations or cash flows. Note 1. Significant Accounting Policies (Continued) ASU 2016-13, Financial Instruments – Credit Losses . The ASU sets forth a “current expected credit loss” (CECL) model which requires the Bank to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. Entities will apply the standard’s provisions as a cumulative-effect (i.e., modified retrospective approach). The Company has begun to gather loan information and consider acceptable methodologies to comply with this ASU. The Company’s initial evaluation indicates that the provisions of this ASU are expected to impact its consolidated financial statements, in particular the level of reserve for loan losses and is continuing to evaluate and assess the impact of the adoption of this ASU on its consolidated financial statements. On October 16, 2019, the FASB approved its proposal to delay the effective date for smaller reporting companies, as defined by the SEC, and other non-SEC reporting entities. As the Company will take advantage of the extended transition period for complying with new or revised accounting standards assuming we remain a smaller reporting company, we will adopt the amendments in this update beginning after December 15, 2022, including interim periods within those fiscal years.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of Range of Estimated Useful Lives for Premises and Equipment	The range of estimated useful lives for premises and equipment are as follows: Buildings and land improvements 5 - 50 years Leasehold improvements 10 - 15 years Furniture, fixtures and equipment 3 - 10 years Automobile 5 years

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Amortized Cost and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity	The amortized cost and estimated fair value of securities classified as available for sale at September 30, 2020 and December 31, 2019, are as follows: September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government and Federal Agency obligations $ 3,499,385 $ 68,354 $ — $ 3,567,739 Residential mortgage-backed securities 14,750,047 945,676 — 15,695,723 $ 18,249,432 $ 1,014,030 $ — $ 19,263,462 December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 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
Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity	The amortized cost and estimated fair value of securities as of September 30, 2020 and December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2020 Securities Available for Sale Amortized Fair Cost Value Due in one year or less $ — $ — Due after one year through five years 3,499,385 3,567,739 Due five years to ten years — — Due after ten years — — Mortgage-backed, in monthly installments 14,750,047 15,695,723 $ 18,249,432 $ 19,263,462 December 31, 2019 Securities Available for Sale Amortized Fair Cost 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
Securities with Gross Unrealized Losses	The Bank did not have any securities with gross unrealized losses at September 30, 2020. Securities with gross unrealized losses at December 31, 2019 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 Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses 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

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
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 September 30, 2020 and December 31, 2019 were as follows: September 30, December 31, 2020 2019 Real estate loans One-to four-family $ 68,013,481 $ 74,655,376 Home equity loans and lines of credit 7,129,108 7,488,348 Construction and land development 10,862,487 9,260,520 Nonresidential 59,007,384 61,012,514 Total real estate loans 145,012,460 152,416,758 Other loans Commercial 15,907,233 6,946,372 Consumer 388,058 522,566 Total other loans 16,295,291 7,468,938 Total loans 161,307,751 159,885,696 Net deferred loan origination fees and costs (410,990 ) (261,085 ) Allowance for loan losses (1,726,942 ) (1,379,150 ) Total loans, net $ 159,169,819 $ 158,245,461
Summary Of Type Wise Nonresidential Real Estate Loans	Note 3. Loans (Continued) The following table provides information regarding our nonresidential real estate loans by type at September 30, 2020. Type of Loan Number of Loans Balance Office 30 $ 15,105,392 Retail 17 12,855,719 Warehouse/Industrial 14 9,222,020 Apartment/Multifamily 16 8,253,129 Hotel 5 7,464,660 Other 13 3,989,561 Restaurant 4 1,223,480 Religious/Church Related 4 893,423 103 $ 59,007,384

Credit Quality of Loans and t_2

Credit Quality of Loans and the Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2020
Summary of Allowance for Loan Losses and Loans Receivable by Loan Portfolio Class and Impairment Method	The following tables summarize the activity in the allowance for losses for the three and nine months ended September 30, 2020 and 2019 and for the year ended December 31, 2019 and the distribution of the allowance for loan losses and loans receivable by loan portfolio class and impairment method as of September 30, 2020, September 30, 2019 and December 31, 2019. As of September 30, 2020 One –to Four- Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses Beginning Balance – July 1, 2020 $ 392,464 $ 69,399 $ 203,512 $ 865,760 $ 90,880 $ 5,173 $ 73,663 $ 1,700,851 Charge-offs — — — — — — — — Recoveries — 1,091 — — — — — 1,091 Provision (34,396) (4,460 ) 33,290 29,089 3,963 (749 ) (1,737 ) 25,000 Ending Balance – September 30, 2020 $ 358,068 $ 66,030 $ 236,802 $ 894,849 $ 94,843 $ 4,424 $ 71,926 $ 1,726,942 Beginning Balance – January 1, 2020 $ 331,605 $ 62,603 $ 179,541 $ 683,453 $ 55,571 $ 6,950 $ 59,427 $ 1,379,150 Charge-offs — — (263 ) — — (3,633 ) — (3,896 ) Recoveries — 1,688 — — — — — 1,688 Provision 26,463 1,739 57,524 211,396 39,272 1,107 12,499 350,000 Ending Balance – September 30, 2020 $ 358,068 $ 66,030 $ 236,802 $ 894,849 $ 94,843 $ 4,424 $ 71,926 $ 1,726,942 Ending balance: individually evaluated for impairment $ — $ 270 $ — $ — $ — $ — $ — $ 270 Ending balance: collectively evaluated for impairment $ 358,068 $ 65,760 $ 236,802 $ 894,849 $ 94,843 $ 4,424 $ 71,926 $ 1,726,672 Loans: Ending balance $ 68,013,481 $ 7,129,108 $ 10,862,487 $ 59,007,384 $ 15,907,233 $ 388,058 $ 161,307,751 Ending balance: individually evaluated for impairment $ 453,557 $ 58,152 $ — $ — $ — $ — $ 511,709 Ending balance: collectively evaluated for impairment $ 67,559,924 $ 7,070,956 $ 10,862,487 $ 59,007,384 $ 15,907,233 $ 388,058 $ 160,796,042 As of September 30, 2019 One –to Four- Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Allowance for loans losses: Beginning Balance – July 1, 2019 $ 340,637 $ 60,589 $ 165,934 $ 583,285 $ 55,079 $ 6,404 $ 76,588 $ 1,288,516 Charge-offs (40,275 ) — — — — — — (40,275 ) Recoveries — — — 114,470 — — — 114,470 Reversal of provision 21,542 (5,436 ) 17,464 (94,637 ) (1,527 ) 504 2,090 (60,000 ) Ending Balance – September 30, 2019 $ 321,904 $ 55,153 $ 183,398 $ 603,118 $ 53,552 $ 6,908 $ 78,678 $ 1,302,711 Beginning Balance – January 1, 2019 $ 244,781 $ 68,837 $ 185,170 $ 626,031 $ 28,879 $ 6,669 $ 27,985 $ 1,188,352 Charge-offs (90,111 ) — — — — — — (90,111 ) Recoveries — — — 114,470 — — — 114,470 Provision 167,234 (13,684 ) (1,772 ) (137,383 ) 24,673 239 50,693 90,000 Ending Balance – September 30, 2019 $ 321,904 $ 55,153 $ 183,398 $ 603,118 $ 53,552 $ 6,908 $ 78,678 $ 1,302,711 Ending balance: individually evaluated for impairment $ — $ 737 $ 13,184 $ — $ — $ — $ — $ 13,921 Ending balance: collectively evaluated for impairment $ 321,904 $ 54,416 $ 170,214 $ 603,118 $ 53,552 $ 6,908 $ 78,678 $ 1,288,790 Loans: Ending balance $ 70,415,865 $ 6,889,663 $ 9,089,247 $ 53,585,416 $ 6,694,040 $ 543,943 $ 147,218,174 Ending balance: individually evaluated for impairment $ 310,585 $ 87,601 $ 826,438 $ 1,592,485 $ — $ — $ 2,817,109 Ending balance: collectively evaluated for impairment $ 70,105,280 $ 6,802,062 $ 8,262,809 $ 51,992,931 $ 6,694,040 $ 543,943 $ 144,401,065 As of December 31 One –to Four- Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Commercial Consumer Unallocated Total Beginning Balance – January 1, 2019 $ 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 – December 31, 2019 $ 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
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 September September 30, 2020 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development Nonresidential Grade: Pass $ 67,559,924 $ 7,107,800 $ 10,862,487 $ 59,007,384 Special Mention — — — — Substandard 453,557 21,308 — — Doubtful — — — — $ 68,013,481 $ 7,129,108 $ 10,862,487 $ 59,007,384 Commercial Consumer Totals Grade: Pass $ 15,907,233 $ 388,058 $ 160,832,886 Special Mention — — — Substandard — — 474,865 Doubtful — — — $ 15,907,233 $ 388,058 $ 161,307,751 December 31, 2019 One-to Four-Family Home Equity Loans and Lines of Credit Construction and Land Development 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
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 September September 30, 2020 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment > 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ — $ — $ 180,974 $ 180,974 $ 67,832,507 $ 68,013,481 $ — $ 453,557 Home equity loans and lines of credit — — — — 7, 129,108 7,129,108 — 21,308 Construction and land development — — — — 10,862,487 10,862,487 — — Nonresidential — — — — 59,007,384 59,007,384 — — Other loans: Commercial — — — — 15,907,233 15,907,233 — — Consumer — — — — 388,058 388,058 — — Total loans $ — $ — $ 180,974 $ 180,974 $ 161,126,777 $ 161,307,751 $ — $ 474,865 December 31, 2019 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Recorded Investment > 90 Days and Accruing Nonaccrual Loans Real estate loans: One-to four-family $ 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
Summary of Troubled Debt Restructuring	A summary of TDRs at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 Number of Contracts Performing Nonperforming Total Home equity loans and lines of credit 1 $ 36,844 $ — $ 36,844 December 31, 2019 Number of Contracts Performing Nonperforming Total Home equity loans and lines of credit 1 $ 40,442 $ — $ 40,442
Summary of Impaired Loans	The following table is a summary of impaired loans for the three and nine months ended September 30 Three Months Ended Nine Months Ended Impaired Loans at September 30, 2020 September 30, 2020 September 30, 2020 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance recorded: One-to four-family $ 453,557 $ 456,743 $ — $ 462,253 $ 8,183 $ 465,420 $ 17,363 Home equity loans and lines of credit 21,308 21,308 — 22,110 423 22,339 593 With an allowance recorded: Home equity loans and lines of credit $ 36,844 $ 36,844 $ 270 $ 36,851 $ 586 $ 38,643 $ 1,733 Total One-to four-family $ 453,557 $ 456,743 $ — $ 462,253 $ 8,183 $ 465,420 $ 17,363 Home equity loans and lines of credit 58,152 58,152 270 58,961 1,009 60,982 2,326 Three Months Ended Nine Months Ended Impaired Loans at September 30, 2019 September 30, 2019 September 30, 2019 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance recorded: One-to four-family $ 310,585 $ 314,605 $ — $ 311,238 $ 1,882 $ 314,072 $ 7,997 Home equity loans and lines of credit 46,080 46,080 — 46,080 668 47,043 1,408 Construction and land development 739,710 739,710 — 750,741 14,145 766,942 42,085 Nonresidential 1,592,485 1,592,485 — 1,600,167 16,673 1,615,077 49,542 With an allowance recorded: Home equity loans and lines of credit $ 41,521 $ 41,521 $ 737 $ 42,362 $ 659 $ 43,676 $ 2,202 Construction and land development 86,728 86,728 13,184 86,728 — 86,728 — Total One-to four-family $ 310,585 $ 314,605 $ — $ 311,238 $ 1,882 $ 314,072 $ 7,997 Home equity loans and lines of credit 87,601 87,601 737 88,441 659 90,718 3,610 Construction and land development 826,438 826,438 13,184 837,469 14,145 853,670 42,085 Nonresidential 1,592,485 1,592,485 — 1,600,167 16,673 1,615,077 49,542 Impaired Loans at December 31, 2019 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded: One-to four-family $ 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 four-family $ 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
Extended Maturity
Summary of Troubled Debt Restructuring	The breakdown of loan modifications due to the effects of COVID-19 by loan category is as follows: Number of loans Balance Real estate loans One-to four-family 21 $ 4,125,400 Home equity loans and lines of credit 3 262,854 Construction and land development 3 1,307,555 Nonresidential 24 18,442,953 Total real estate loans 51 24,138,762 Other loans Commercial 8 1,798,718 Consumer 2 53,959 Total other loans 10 1,852,677 Total loans 61 $ 25,991,439

Foreclosed Real Estate (Tables)

Foreclosed Real Estate (Tables)	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Schedule of Changes in Foreclosed Real Estate	Note 5. Foreclosed Real Estate (Continued) The following table summarizes changes in foreclosed real estate for the nine months ended September 30, 2020 and 2019 and for the year ended December 31, 2019, which are measured on a nonrecurring basis using significant unobservable, Level 3, inputs: September 30, December 31, 2020 2019 2019 Balance, beginning of period $ 845,000 $ 865,000 $ 865,000 Write-down of foreclosed real estate (70,000) (20,000) (20,000) Balance, end of period $ 775,000 $ 845,000 $ 845,000

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2020
Deposits [Abstract]
Schedule of Deposits	Deposits are summarized as follows: September 30, 2020 December 31, 2019 Noninterest-bearing demand $ 31,793,786 $ 19,780,866 Interest-bearing demand 25,094,527 23,779,145 Money market 10,092,514 10,242,323 Savings 26,482,046 24,295,700 Certificates of deposit 78,922,076 78,342,839 Total deposits $ 172,384,949 $ 156,440,873
Schedule of Certificates of Deposit and Remaining Maturities	At September 30, 2020 certificates of deposit and their remaining maturities were as follows: September 30, 2021 $ 36,677,340 2022 17,436,787 2023 12,531,165 2024 7,150,190 2025 5,126,594 $ 78,922,076

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of advances outstanding from the federal home loan bank of atlanta	The Bank has advances outstanding from the FHLB. A schedule of borrowings is as follows: September 30, 2020 December 31, 2019 Advance Amount Rate Maturity Date Advance Amount Rate Maturity Date $ 5,000,000 0.95 % 03/06/2023 $ 2,500,000 1.78 % — $ 5,000,000 $ 2,500,000

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
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 periods ended: September 30, 2020 Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2020 161,320 $ 13.40 Granted 7,960 11.90 Vested (32,265 ) 13.40 Forfeited — — Nonvested at September 137,015 $ 13.31 Fair value of vested shares $ 395,569 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 September 30, 2020: Year Ending December 31, Number of Restricted Shares 2020 — 2021 32,265 2022 32,265 2023 37,041 2024 33,852 2025 1,592 137,015
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. Grant Date May 14, 2019 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 Grant Date May 21, 2020 Expected Stock Price Volatility 23.07% Expected Dividend Yield 0.00% Expected Term (In Years) 7.0 Risk-Free Rate 0.68% Fair Value of Options Granted $ 3.07
Schedule Of Share Based Compensation Stock Options Activity	The following table summarizes the Company’s stock option activity and related information for the periods ended: September 30, 2020 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at January 1, 2020 368,300 $ 13.40 8.7 Granted 54,900 11.90 9.7 Exercised — — — Forfeited — — — Outstanding at September 30, 2020 423,200 $ 13.21 8.8 Fair value of vested shares $ 903,072 December 31, 2019 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at January 1, 2019 — $ — Granted 368,300 13.40 9.4 Exercised — — — Forfeited — — — Outstanding at December 31, 2019 368,300 $ 13.40 9.4 Fair value of vested shares $ —

Common Stock (Tables)

Common Stock (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Share Repurchase Program	The following table sets forth information in connection with repurchases of the Company’s shares of common stock during the periods listed, including the nine months ended September 30, 2020. Period Total Number of Shares Purchased Average Price Paid per Share Total Value of Shares Purchased as Part of Publicly Announced Plans Maximum Value of Shares That May Yet Be Purchased Under the Plan January 1 – 31, 2020 76,675 $ 14.23 $ 1,423,565 $ 4,576,435 February 1 – 29, 2020 7,500 14.34 1,531,121 4,468,879 March 1 – 31, 2020 262,588 13.55 5,089,565 910,435 April 1 – 30, 2020 8,084 11.38 5,181,581 818,419 May 1 – 31, 2020 21,700 11.94 5,440,665 559,335 June 1 – 30, 2020 33,200 12.05 5,840,800 159,200 July 1 – 31, 2020 12,900 12.19 5,998,057 1,943 August 1 – 31, 2020 161 12.07 6,000,000 — On August 18, 2020, upon completion of the previous plan dated December 31, 2019, the Board of Directors authorized a plan to repurchase up to an additional $3,500,000 of the Company’s outstanding common stock. The repurchases will be made during a one-year period on the open market, in privately negotiated transactions, or in such other manner as will comply with applicable policy, laws and regulations. Period Total Number of Shares Purchased Average Price Paid per Share Total Value of Shares Purchased as Part of Publicly Announced Plans Maximum Value of Shares That May Yet Be Purchased Under the Plan August 1 – 31, 2020 19,864 $ 12.03 $ 239,063 $ 3,260,937 September 1 – 30, 2020 51,500 12.04 859,140 2,640,860

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net income $ 250,842 $ 301,707 $ 555,221 $ 746,085 Weighted average common shares outstanding - basic 3,510,483 3,927,296 3,628,449 3,927,296 Weighted average common shares outstanding - dilutive 3,510,483 3,943,080 3,628,449 3,943,080 Earnings per common share, basic and diluted $ 0.07 $ 0.08 $ 0.15 $ 0.19

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	9 Months Ended
	Sep. 30, 2020
Banking And Thrift Disclosure [Abstract]
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 September Actual Minimum Regulatory Capital Ratios under Basel III To Be Well Capitalized under Basel III Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of September 30, 2020: Common equity tier 1 capital (to risk-weighted assets) $ 43,028 27.33 % $ 10,234 >6.50% $ 10,234 >6.50% Total risk-based capital (to risk-weighted assets) 44,800 28.46 % 15,744 >10.0% 15,744 >10.0% Tier 1 capital (to risk-weighted assets) 43,028 27.33 % 12,595 > 8.0 % 12,595 >8.0 % Tier 1 capital (to average assets) 43,028 18.28 % 9,417 > 4.0 % 11,772 >5.0 % As of December 31, 2019: Common equity tier 1 capital (to risk-weighted assets) $ 41,635 27.74 % $ 9,569 >6.375% $ 9,757 >6.50% Total risk-based capital (to risk-weighted assets) 43,054 28.68 % 14,823 >9.875% 15,010 >10.0% Tier 1 capital (to risk-weighted assets) 41,635 27.74 % 11,821 >7.875% 12,008 >8.0 % Tier 1 capital (to average assets) 41,635 19.08 % 8,731 >4.000% 10,913 >5.0 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Investment Securities Available for Sale	As of September 30, 2020 and December 31, 2019 the Bank has categorized its investment securities available for sale as follows: Level 1 Level 2 Level 3 Total September 30, 2020 Securities available for sale: U.S. Government Agency and Federal Obligations $ — $ 3,567,739 $ — $ 3,567,739 Residential mortgage-backed securities 15,695,723 — 15,695,723 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
Schedule of Foreclosed Real Estate	The Bank has categorized its foreclosed real estate as Level 3. Level 1 Level 2 Level 3 Total September 30, 2020 Impaired loans $ — $ — $ 511,439 $ 511,439 Foreclosed real estate — — 775,000 775,000 December 31, 2019 Impaired loans $ — $ — $ 2,827,467 $ 2,827,467 Foreclosed real estate — — 845,000 845,000
Schedule of Financial Instruments Measured at Fair Value on Non-Recurring Basis	The following table presents quantitative information about Level 3 fair value measurements for selected financial instruments measured at fair value on a non-recurring basis at September 30, 2020 and December 31, 2019: Fair Value Value Technique(s) Unobservable Inputs Range or Rate Used September 30, 2020 Impaired loans $ 511,439 Appraised value Discount to reflect current market conditions 0.00 % Discounted cash flows Discount rates 7.50 % Foreclosed real estate $ 775,000 Appraised value Discount to reflect current market conditions 10.92 % December 31, 2019 Impaired loans $ 2,827,467 Appraised value Discount to reflect current market conditions 0.00 % Discounted cash flows Discount rates 7.50 % Foreclosed real estate $ 845,000 Appraised value Discount to reflect current market conditions 10.11 %
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 September Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 33,162 $ 33,162 $ — $ — $ 33,162 Time deposits in other banks 6,944 — 7,264 — 7,264 Securities available for sale 19,263 — 19,263 — 19,263 Federal Home Loan Bank stock 411 — 411 — 411 Loans held for sale 4,062 — 4,168 — 4,168 Loans, net (1) 159,170 — — 163,272 163,272 Accrued interest receivable 726 — 726 — 726 Financial liabilities: Deposits 172,385 — 167,206 — 167,206 Borrowings 5,000 — 5,191 — 5,191 (1) Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion. Fair Value Measurements at December 31, 2019 Using Carrying Value Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value (dollars in thousands) Financial assets: Cash and cash equivalents $ 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 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. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion.

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail) - USD ($)	Sep. 27, 2018	Sep. 30, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Repurchase par value of common stock, per share		$ 100
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	$ 0
Balances in brokerage firms, insured		500,000
Other Liabilities
Summary Of Significant Accounting Policies [Line Items]
Bank owned life insurance ("BOLI")		$ 121,570	$ 122,118
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%

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Range of Estimated Useful Lives for Premises and Equipment (Detail)	9 Months Ended
	Sep. 30, 2020
Buildings and land improvements | Minimum
Property Plant And Equipment [Line Items]
Property Plant And Equipment	5 years
Buildings and land improvements | 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 | Minimum
Property Plant And Equipment [Line Items]
Property Plant And Equipment	3 years
Furniture, fixtures and equipment | Maximum
Property Plant And Equipment [Line Items]
Property Plant And Equipment	10 years
Automobile | 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 ($)	Sep. 30, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	$ 18,249,432	$ 36,392,681
Securities Available for Sale, Gross Unrealized Gains	1,014,030	746,553
Securities Available for Sale, Gross Unrealized Losses		48,643
Securities Available for Sale, Fair Value	19,263,462	37,090,591
U.S. Government Agency and Federal Obligations
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	3,499,385	9,472,370
Securities Available for Sale, Gross Unrealized Gains	68,354	76,651
Securities Available for Sale, Gross Unrealized Losses		4,679
Securities Available for Sale, Fair Value	3,567,739	9,544,342
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost	14,750,047	25,415,647
Securities Available for Sale, Gross Unrealized Gains	945,676	638,856
Securities Available for Sale, Gross Unrealized Losses		43,964
Securities Available for Sale, Fair Value	$ 15,695,723	26,010,539
Municipal Securities
Marketable Securities [Line Items]
Securities Available for Sale, Amortized Cost		1,504,664
Securities Available for Sale, Gross Unrealized Gains		31,046
Securities Available for Sale, Fair Value		$ 1,535,710

Securities - Additional Informa

Securities - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Marketable Securities [Line Items]
Proceeds from Sale of Available-for-sale Securities			$ 7,312,769
Available-for-sale Securities, Realized Gain			143,223
Gross unrealized gain (loss)					$ 48,643
Securities pledged	$ 0		0		$ 0
Municipal Securities
Marketable Securities [Line Items]
Proceeds from Sale of Available-for-sale Securities	$ 0	$ 0	7,312,769	$ 0
Available-for-sale Securities, Realized Gain			$ 143,223

Securities - Amortized Cost a_2

Securities - Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, Amortized Cost		$ 1,000,000
Due after one year through five years, Amortized Cost	$ 3,499,385	9,474,467
Due five years to ten years, Amortized Cost		502,567
Securities Available for Sale, Amortized Cost	18,249,432	36,392,681
Due in one year or less, Fair Value		998,407
Due after one year through five years, Fair Value	3,567,739	9,560,135
Due five years to ten years, Fair Value		521,510
Securities Available for Sale, Fair Value	19,263,462	37,090,591
Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Securities Available for Sale, Amortized Cost	14,750,047	25,415,647
Securities Available for Sale, Fair Value	$ 15,695,723	$ 26,010,539

Securities - Securities with Gr

Securities - Securities with Gross Unrealized Losses (Detail)	Dec. 31, 2019USD ($)
Marketable Securities [Line Items]
Fair Value, Less than 12 Months	$ 4,862,213
Gross Unrealized Losses, Less than 12 Months	43,964
Fair Value, 12 Months or Greater	1,995,321
Gross Unrealized Losses, 12 Months or Greater	4,679
Securities Available for Sale, Fair Value	6,857,534
Securities Available for Sale, Gross Unrealized Losses	48,643
U.S. Government and Federal Agency obligations
Marketable Securities [Line Items]
Fair Value, 12 Months or Greater	1,995,321
Gross Unrealized Losses, 12 Months or Greater	4,679
Securities Available for Sale, Fair Value	1,995,321
Securities Available for Sale, Gross Unrealized Losses	4,679
Residential Mortgage-Backed Securities
Marketable Securities [Line Items]
Fair Value, Less than 12 Months	4,862,213
Gross Unrealized Losses, Less than 12 Months	43,964
Securities Available for Sale, Fair Value	4,862,213
Securities Available for Sale, Gross Unrealized Losses	$ 43,964

Loans - Summary of Principal Lo

Loans - Summary of Principal Loan Portfolio Segment (Detail) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Lease And Investment Commitments [Line Items]
Total loans	$ 161,307,751		$ 159,885,696	$ 147,218,174
Net deferred loan origination fees and costs	(410,990)		(261,085)
Allowance for loan losses	(1,726,942)	$ (1,700,851)	(1,379,150)	$ (1,302,711)	$ (1,288,516)	$ (1,188,352)
Net loans	159,169,819		158,245,461
Non Residential Real Estate Loan
Lease And Investment Commitments [Line Items]
Net loans	59,007,384
Real Estate Loan
Lease And Investment Commitments [Line Items]
Total loans	145,012,460		152,416,758
Real Estate Loan | Residential One To Four Family
Lease And Investment Commitments [Line Items]
Total loans	68,013,481		74,655,376
Real Estate Loan | Home Equity Lines Of Credit
Lease And Investment Commitments [Line Items]
Total loans	7,129,108		7,488,348
Real Estate Loan | Construction Loans
Lease And Investment Commitments [Line Items]
Total loans	10,862,487		9,260,520
Real Estate Loan | Non Residential Real Estate Loan
Lease And Investment Commitments [Line Items]
Total loans	59,007,384		61,012,514
Other Loan
Lease And Investment Commitments [Line Items]
Total loans	16,295,291		7,468,938
Other Loan | Commercial Portfolio Segment
Lease And Investment Commitments [Line Items]
Total loans	15,907,233		6,946,372
Other Loan | Consumer Portfolio Segment
Lease And Investment Commitments [Line Items]
Total loans	$ 388,058		$ 522,566

Loans - Additional Information

Loans - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020USD ($)Application	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)
Lease And Investment Commitments [Line Items]
Total loans	$ 161,307,751	$ 159,885,696	$ 147,218,174
Loans and Leases Receivable, Net Amount	159,169,819	158,245,461
Deferred fees	(410,990)	(261,085)
Overdraft Consumer Loan
Lease And Investment Commitments [Line Items]
Total loans	$ 11,940	$ 25,714
Paycheck Protection Program Loan
Lease And Investment Commitments [Line Items]
Lending of loan terms and conditions	As a qualified SBA lender, we were automatically authorized to originate PPP loans. An eligible business was able apply for a PPP loan up to the lesser of: (1) 2.5 times its average monthly “payroll costs,” or (2) $10.0 million dollars. PPP loans have: (a) an interest rate of 1.0%, (b) a two-year or five-year loan term to maturity depending on the date of loan origination; and (c) principal and interest payments deferred for six months from the date of disbursement. The SBA will guarantee 100% of the PPP loans made to eligible borrowers. The entire principal amount of the borrower’s PPP loan, including accrued interest, is eligible to be reduced by the loan forgiveness amount under the PPP so long as employee and compensation levels of the business entity are maintained and 60% of the loan proceeds are used for payroll expenses, with the remaining 40% of the loan proceeds used for other qualifying expenses.
Number of loan applications received | Application	101
Loans and Leases Receivable, Net Amount	$ 8,563,898
Deferred fees	$ 243,651
Paycheck Protection Program Loan | Maximum
Lease And Investment Commitments [Line Items]
Investment for lending of loan	20.00%
Amount of investment for lending of loan	$ 8,600,000

Loans - Summary Of Type Wise No

Loans - Summary Of Type Wise Nonresidential Real Estate Loans (Detail)	9 Months Ended
	Sep. 30, 2020USD ($)loan	Dec. 31, 2019USD ($)
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Balance	$ 159,169,819	$ 158,245,461
Non Residential Real Estate Loan
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	103
Balance	$ 59,007,384
Non Residential Real Estate Loan | Office
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	30
Balance	$ 15,105,392
Non Residential Real Estate Loan | Retail
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	17
Balance	$ 12,855,719
Non Residential Real Estate Loan | Warehouse Industrial
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	14
Balance	$ 9,222,020
Non Residential Real Estate Loan | Apartment Multi family
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	16
Balance	$ 8,253,129
Non Residential Real Estate Loan | Hotel
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	5
Balance	$ 7,464,660
Non Residential Real Estate Loan | Other
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	13
Balance	$ 3,989,561
Non Residential Real Estate Loan | Restaurant
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	4
Balance	$ 1,223,480
Non Residential Real Estate Loan | Religious Church Related
Disclosure Of Type Wise Nonresidential Real Estate Loans [Line Items]
Number Of Loans | loan	4
Balance	$ 893,423

Credit Quality of Loans and t_3

Credit Quality of Loans and the Allowance for Loan Losses - Summary of Allowance for Loan Losses and Loans Receivable by Loan Portfolio Class and Impairment Method (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	$ 1,700,851	$ 1,288,516	$ 1,379,150	$ 1,188,352	$ 1,188,352
Charge-offs		(40,275)	(3,896)	(90,111)	(101,111)
Recoveries	1,091	114,470	1,688	114,470	116,909
Provision for loan losses	25,000	(60,000)	350,000	90,000	175,000
Ending Balance – September 30, 2020	1,726,942	1,302,711	1,726,942	1,302,711	1,379,150
Ending balance: individually evaluated for impairment	270	13,921	270	13,921	681
Ending balance: collectively evaluated for impairment	1,726,672	1,288,790	1,726,672	1,288,790	1,378,469
Ending balance	161,307,751	147,218,174	161,307,751	147,218,174	159,885,696
Ending balance: individually evaluated for impairment	511,709	2,817,109	511,709	2,817,109	2,828,148
Ending balance: collectively evaluated for impairment	160,796,042	144,401,065	160,796,042	144,401,065	157,057,548
One-to-Four-Family
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	392,464	340,637	331,605	244,781	244,781
Charge-offs		(40,275)		(90,111)	(90,111)
Provision for loan losses	(34,396)	21,542	26,463	167,234	176,935
Ending Balance – September 30, 2020	358,068	321,904	358,068	321,904	331,605
Ending balance: collectively evaluated for impairment	358,068	321,904	358,068	321,904	331,605
Ending balance	68,013,481	70,415,865	68,013,481	70,415,865	74,655,376
Ending balance: individually evaluated for impairment	453,557	310,585	453,557	310,585	337,984
Ending balance: collectively evaluated for impairment	67,559,924	70,105,280	67,559,924	70,105,280	74,317,392
Home Equity Lines Of Credit
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	69,399	60,589	62,603	68,837	68,837
Recoveries	1,091		1,688		2,439
Provision for loan losses	(4,460)	(5,436)	1,739	(13,684)	(8,673)
Ending Balance – September 30, 2020	66,030	55,153	66,030	55,153	62,603
Ending balance: individually evaluated for impairment	270	737	270	737	681
Ending balance: collectively evaluated for impairment	65,760	54,416	65,760	54,416	61,922
Ending balance	7,129,108	6,889,663	7,129,108	6,889,663	7,488,348
Ending balance: individually evaluated for impairment	58,152	87,601	58,152	87,601	116,721
Ending balance: collectively evaluated for impairment	7,070,956	6,802,062	7,070,956	6,802,062	7,371,627
Construction and Land Development
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	203,512	165,934	179,541	185,170	185,170
Charge-offs			(263)		(11,000)
Provision for loan losses	33,290	17,464	57,524	(1,772)	5,371
Ending Balance – September 30, 2020	236,802	183,398	236,802	183,398	179,541
Ending balance: individually evaluated for impairment		13,184		13,184
Ending balance: collectively evaluated for impairment	236,802	170,214	236,802	170,214	179,541
Ending balance	10,862,487	9,089,247	10,862,487	9,089,247	9,260,520
Ending balance: individually evaluated for impairment		826,438		826,438	791,625
Ending balance: collectively evaluated for impairment	10,862,487	8,262,809	10,862,487	8,262,809	8,468,895
Nonresidential
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	865,760	583,285	683,453	626,031	626,031
Recoveries		114,470		114,470	114,470
Provision for loan losses	29,089	(94,637)	211,396	(137,383)	(57,048)
Ending Balance – September 30, 2020	894,849	603,118	894,849	603,118	683,453
Ending balance: collectively evaluated for impairment	894,849	603,118	894,849	603,118	683,453
Ending balance	59,007,384	53,585,416	59,007,384	53,585,416	61,012,514
Ending balance: individually evaluated for impairment		1,592,485		1,592,485	1,581,818
Ending balance: collectively evaluated for impairment	59,007,384	51,992,931	59,007,384	51,992,931	59,430,696
Commercial Portfolio Segment
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	90,880	55,079	55,571	28,879	28,879
Provision for loan losses	3,963	(1,527)	39,272	24,673	26,692
Ending Balance – September 30, 2020	94,843	53,552	94,843	53,552	55,571
Ending balance: collectively evaluated for impairment	94,843	53,552	94,843	53,552	55,571
Ending balance	15,907,233	6,694,040	15,907,233	6,694,040	6,946,372
Ending balance: collectively evaluated for impairment	15,907,233	6,694,040	15,907,233	6,694,040	6,946,372
Consumer Portfolio Segment
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	5,173	6,404	6,950	6,669	6,669
Charge-offs			(3,633)
Provision for loan losses	(749)	504	1,107	239	281
Ending Balance – September 30, 2020	4,424	6,908	4,424	6,908	6,950
Ending balance: collectively evaluated for impairment	4,424	6,908	4,424	6,908	6,950
Ending balance	388,058	543,943	388,058	543,943	522,566
Ending balance: collectively evaluated for impairment	388,058	543,943	388,058	543,943	522,566
Unallocated
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning Balance – July 1, 2020	73,663	76,588	59,427	27,985	27,985
Provision for loan losses	(1,737)	2,090	12,499	50,693	31,442
Ending Balance – September 30, 2020	71,926	78,678	71,926	78,678	59,427
Ending balance: collectively evaluated for impairment	$ 71,926	$ 78,678	$ 71,926	$ 78,678	$ 59,427

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 ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 161,307,751	$ 159,885,696	$ 147,218,174
Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	160,832,886	156,637,148
Special Mention
Financing Receivable Recorded Investment [Line Items]
Total loans		460,842
Substandard
Financing Receivable Recorded Investment [Line Items]
Total loans	474,865	2,787,706
One-to-Four-Family
Financing Receivable Recorded Investment [Line Items]
Total loans	68,013,481	74,655,376	70,415,865
One-to-Four-Family | Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	67,559,924	73,856,550
One-to-Four-Family | Special Mention
Financing Receivable Recorded Investment [Line Items]
Total loans		460,842
One-to-Four-Family | Substandard
Financing Receivable Recorded Investment [Line Items]
Total loans	453,557	337,984
Home Equity Lines Of Credit
Financing Receivable Recorded Investment [Line Items]
Total loans	7,129,108	7,488,348	6,889,663
Home Equity Lines Of Credit | Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	7,107,800	7,412,069
Home Equity Lines Of Credit | Substandard
Financing Receivable Recorded Investment [Line Items]
Total loans	21,308	76,279
Construction and Land Development
Financing Receivable Recorded Investment [Line Items]
Total loans	10,862,487	9,260,520	9,089,247
Construction and Land Development | Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	10,862,487	8,468,895
Construction and Land Development | Substandard
Financing Receivable Recorded Investment [Line Items]
Total loans		791,625
Nonresidential
Financing Receivable Recorded Investment [Line Items]
Total loans	59,007,384	61,012,514	53,585,416
Nonresidential | Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	59,007,384	59,430,696
Nonresidential | Substandard
Financing Receivable Recorded Investment [Line Items]
Total loans		1,581,818
Commercial Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Total loans	15,907,233	6,946,372	6,694,040
Commercial Portfolio Segment | Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	15,907,233	6,946,372
Consumer Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Total loans	388,058	522,566	$ 543,943
Consumer Portfolio Segment | Pass
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 388,058	$ 522,566

Credit Quality of Loans and t_5

Credit Quality of Loans and the Allowance for Loan Losses - Summary of Loan Portfolio Delinquencies (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans	$ 180,974	$ 935,905
Current Loans	161,126,777	158,949,791
Total Loans	161,307,751	159,885,696
Nonaccrual Loans	474,865	489,991
One-to-Four-Family
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans	180,974	558,300
Current Loans	67,832,507	74,097,076
Total Loans	68,013,481	74,655,376
Nonaccrual Loans	453,557	337,984
Home Equity Lines Of Credit
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		245,608
Current Loans	7,129,108	7,242,740
Total Loans	7,129,108	7,488,348
Nonaccrual Loans	21,308	76,279
Construction and Land Development
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		75,728
Current Loans	10,862,487	9,184,792
Total Loans	10,862,487	9,260,520
Nonaccrual Loans		75,728
Nonresidential
Financing Receivable Recorded Investment [Line Items]
Current Loans	59,007,384	61,012,514
Total Loans	59,007,384	61,012,514
Commercial Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		31,510
Current Loans	15,907,233	6,914,862
Total Loans	15,907,233	6,946,372
Consumer Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		24,759
Current Loans	388,058	497,807
Total Loans	388,058	522,566
Loans 30-59 Days Past Due
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		445,914
Loans 30-59 Days Past Due | One-to-Four-Family
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		220,316
Loans 30-59 Days Past Due | Home Equity Lines Of Credit
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		169,329
Loans 30-59 Days Past Due | Commercial Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		31,510
Loans 30-59 Days Past Due | Consumer Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		24,759
Loans 90 or More Days Past Due
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans	180,974	489,991
Loans 90 or More Days Past Due | One-to-Four-Family
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans	$ 180,974	337,984
Loans 90 or More Days Past Due | Home Equity Lines Of Credit
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		76,279
Loans 90 or More Days Past Due | Construction and Land Development
Financing Receivable Recorded Investment [Line Items]
Total Past Due Loans		$ 75,728

Credit Quality of Loans and t_6

Credit Quality of Loans and the Allowance for Loan Losses - Additional Information (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)loanTDR	Dec. 31, 2019USD ($)loanTDR
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 | loan	6	7
Financing receivable recorded investment non accrual status, forgone interest | $	$ 9,085	$ 17,925
Recorded investment 90 days and accruing interest | loan	0	0
Number of Contracts | loan	61
Total | $	$ 25,991,439
Home Equity Lines Of Credit
Financing Receivable Allowance For Credit Losses [Line Items]
Number of Contracts | TDR	1	1
Total | $	$ 36,844	$ 40,442

Credit Quality of Loans and t_7

Credit Quality of Loans and the Allowance for Loan Losses - Summary Of breakdown of loan modification requests by type (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)loanTDR	Dec. 31, 2019USD ($)TDR
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	61
Balance	$ 25,991,439
Home Equity Lines Of Credit
Financing Receivable Modifications [Line Items]
Number of Contracts | TDR	1	1
Balance	$ 36,844	$ 40,442
Real Estate Loan
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	51
Balance	$ 24,138,762
Real Estate Loan | One-to-Four-Family
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	21
Balance	$ 4,125,400
Real Estate Loan | Home Equity Lines Of Credit
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	3
Balance	$ 262,854
Real Estate Loan | Construction and Land Development
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	3
Balance	$ 1,307,555
Real Estate Loan | Nonresidential
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	24
Balance	$ 18,442,953
Other Loans
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	10
Balance	$ 1,852,677
Other Loans | Commercial Portfolio Segment
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	8
Balance	$ 1,798,718
Other Loans | Consumer Portfolio Segment
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	2
Balance	$ 53,959

Credit Quality of Loans and t_8

Credit Quality of Loans and the Allowance for Loan Losses - Summary Of Impaired Loans (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
One-to-Four-Family
Financing Receivable Impaired [Line Items]
Recorded Investment	$ 453,557	$ 310,585	$ 453,557	$ 310,585	$ 337,984
Unpaid Principal Balance	456,743	314,605	456,743	314,605	342,345
Average Recorded Investment	462,253	311,238	465,420	314,072	342,907
Interest Income Recognized	8,183	1,882	17,363	7,997	11,765
Recorded Investment	453,557	310,585	453,557	310,585	337,984
Unpaid Principal Balance	456,743	314,605	456,743	314,605	342,345
Average Recorded Investment	462,253	311,238	465,420	314,072	342,907
Interest Income Recognized	8,183	1,882	17,363	7,997	11,765
Home Equity Lines Of Credit
Financing Receivable Impaired [Line Items]
Recorded Investment	21,308	46,080	21,308	46,080	76,279
Unpaid Principal Balance	21,308	46,080	21,308	46,080	76,279
Average Recorded Investment	22,110	46,080	22,339	47,043	82,117
Interest Income Recognized	423	668	593	1,408	2,727
Recorded Investment	36,844	41,521	36,844	41,521	40,442
Unpaid Principal Balance	36,844	41,521	36,844	41,521	40,442
Related Allowance	270	737	270	737	681
Average Recorded Investment	36,851	42,362	38,643	43,676	43,136
Interest Income Recognized	586	659	1,733	2,202	2,964
Recorded Investment	58,152	87,601	58,152	87,601	116,721
Unpaid Principal Balance	58,152	87,601	58,152	87,601	116,721
Related Allowance	270	737	270	737	681
Average Recorded Investment	58,961	88,441	60,982	90,718	125,252
Interest Income Recognized	$ 1,009	659	$ 2,326	3,610	5,691
Construction and Land Development
Financing Receivable Impaired [Line Items]
Recorded Investment		739,710		739,710	791,625
Unpaid Principal Balance		739,710		739,710	802,625
Average Recorded Investment		750,741		766,942	836,264
Interest Income Recognized		14,145		42,085	54,478
Recorded Investment		86,728		86,728
Unpaid Principal Balance		86,728		86,728
Related Allowance		13,184		13,184
Average Recorded Investment		86,728		86,728
Recorded Investment		826,438		826,438	791,625
Unpaid Principal Balance		826,438		826,438	802,625
Related Allowance		13,184		13,184
Average Recorded Investment		837,469		853,670	836,264
Interest Income Recognized		14,145		42,085	54,478
Nonresidential
Financing Receivable Impaired [Line Items]
Recorded Investment		1,592,485		1,592,485	1,581,818
Unpaid Principal Balance		1,592,485		1,592,485	1,581,818
Average Recorded Investment		1,600,167		1,615,077	1,609,744
Interest Income Recognized		16,673		49,542	61,141
Recorded Investment		1,592,485		1,592,485	1,581,818
Unpaid Principal Balance		1,592,485		1,592,485	1,581,818
Average Recorded Investment		1,600,167		1,615,077	1,609,744
Interest Income Recognized		$ 16,673		$ 49,542	$ 61,141

Credit Quality of Loans and t_9

Credit Quality of Loans and the Allowance for Loan Losses - Summary Of Troubled Debt Restructuring (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)loanTDR	Dec. 31, 2019USD ($)TDR
Financing Receivable Modifications [Line Items]
Number of Contracts | loan	61
Total	$ 25,991,439
Home Equity Lines Of Credit
Financing Receivable Modifications [Line Items]
Number of Contracts | TDR	1	1
Performing	$ 36,844	$ 40,442
Total	$ 36,844	$ 40,442

Foreclosed Real Estate - Additi

Foreclosed Real Estate - Additional Information (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Real Estate [Line Items]
Foreclosed real estate amount | $	$ 775,000	$ 845,000	$ 845,000	$ 865,000
Residential Real Estate
Real Estate [Line Items]
Number of loans in the process of foreclosure	0	0
Number of properties included in foreclosed real estate	0	0

Foreclosed Real Estate - Schedu

Foreclosed Real Estate - Schedule of changes in foreclosed real estate (Detail) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Real Estate [Abstract]
Balance, beginning of period	$ 845,000	$ 865,000	$ 865,000
Write-down of foreclosed real estate	(70,000)	(20,000)	(20,000)
Balance, end of period	$ 775,000	$ 845,000	$ 845,000

Deposits - Schedule of Deposits

Deposits - Schedule of Deposits (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Deposits [Abstract]
Noninterest-bearing deposits	$ 31,793,786	$ 19,780,866
Interest-bearing demand	25,094,527	23,779,145
Money market	10,092,514	10,242,323
Savings	26,482,046	24,295,700
Certificates of deposit	78,922,076	78,342,839
Total deposits	$ 172,384,949	$ 156,440,873

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Deposit accounts, federally insured	$ 250,000
Time deposits with balances of $250,000 or more	17,232,194	$ 14,113,578
Deposit balances	172,384,949	156,440,873
Directors And Officers
Deposit balances	$ 957,418	$ 419,857

Deposits - Schedule of Certific

Deposits - Schedule of Certificates of Deposit and Remaining Maturities (Detail)	Sep. 30, 2020USD ($)
Deposits [Abstract]
2021	$ 36,677,340
2022	17,436,787
2023	12,531,165
2024	7,150,190
2025	5,126,594
Certificate of deposit	$ 78,922,076

Borrowings - Schedule of Outsta

Borrowings - Schedule of Outstanding the Federal Home Loan Bank Of AtlantaBorrowings (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
FHLB Advance One [Member]
Advance amount	$ 5,000,000	$ 2,500,000
Rate	0.95%	1.78%
Maturity Date	Mar. 6, 2023
FHLB Advance Two [Member]
Advance amount	$ 5,000,000	$ 2,500,000

Borrowings - Additional informa

Borrowings - Additional information (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Federal Home Loan Bank, advances limit as percentage of total assets	25.00%	25.00%
Total Credit Federal Home Loan Bank, available amount	$ 58,700,000	$ 55,100,000
Federal Home Loan Bank, available amount	53,700,000	52,600,000
Federal home loan bank advances eligible amount to pledge as collateral	50,800,000	52,700,000
Line of credit facility, maximum borrowing capacity	2,000,000	2,000,000
Line of credit outstanding	$ 0	$ 0

Employee Stock Ownership Plan -

Employee Stock Ownership Plan - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP compensation expense			$ 325,017	$ 340,253
ESOP
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee stock ownership plan, vesting period			3 years
Employee stock ownership plan, vesting percentage			100.00%
ESOP compensation expense	$ 104,953	$ 115,957	$ 325,017	$ 340,253
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares	270,848		270,848
Employee stock ownership plan (ESOP), number of suspense value	$ 3,320,596		$ 3,320,596

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($)	May 21, 2020	May 14, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share Based Payment Award Options Granted Weighted Average Grant Date Fair Value	$ 3.07	$ 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%
Share Based Compensation Expense			$ 113,450	$ 108,973	$ 330,566	$ 165,828
Unrecognized compensation expense related to nonvested shares granted			$ 1,651,045		$ 1,651,045
Compensation Cost Not Yet Recognized Period For Recognition					3 years 8 months 12 days
Restricted Stock | 2019 Equity Incentive Plan Trust
Share Based Payment Award Number Of Shares Authorized		169,280	169,280		169,280
Employee Stock Option
Share Based Compensation Expense			$ 70,524	$ 62,197	$ 197,017	$ 94,648
Unrecognized compensation expense related to nonvested shares granted			$ 1,048,486		$ 1,048,486
Compensation Cost Not Yet Recognized Period For Recognition					3 years 9 months 18 days
Share Based Payment Award Options Granted Weighted Average Grant Date Fair Value					$ 12.26
Employee Stock Option | 2019 Equity Incentive Plan Trust
Share Based Payment Award Number Of Shares Authorized		423,200	423,200		423,200

Stock Based Compensation - Summ

Stock Based Compensation - Summary of the Activity in the Company's Restricted Stock (Detail) - Restricted Stock Units (RSUs) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Nonvested beginning balance, Shares	161,320
Granted, Shares	7,960	161,320
Vested, Shares	(32,265)
Nonvested ending balance, Shares	137,015	161,320
Fair value of vested shares	$ 395,569
Nonvested ,beginning balance, Weighted Average Grant Date Fair Value	$ 13.40
Granted, Weighted Average Grant Date Fair Value	11.90	$ 13.40
Vested, Weighted Average Grant Date Fair Value	13.40
Nonvested ending balance, Weighted Average Grant Date Fair Value	$ 13.31	$ 13.40

Stock Based Compensation - Vest

Stock Based Compensation - Vesting Schedule of the Nonvested Restricted Stock Awards (Detail) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2020shares
Nonvested restricted stock awards	137,015
2021
Nonvested restricted stock awards	32,265
2022
Nonvested restricted stock awards	32,265
2023
Nonvested restricted stock awards	37,041
2024
Nonvested restricted stock awards	33,852
2025
Nonvested restricted stock awards	1,592

Stock Based Compensation - Shar

Stock Based Compensation - Share Based Payment Award Stock Options Valuation Assumptions (Detail) - $ / shares	May 21, 2020	May 14, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Grant Date	May 21, 2020	May 14, 2019
Expected Stock Price Volatility	23.07%	17.08%
Expected Dividend Yield	0.00%	0.00%
Expected Term (In Years)	7 years	7 years
Risk-Free Rate	0.68%	2.30%
Fair Value of Options Granted	$ 3.07	$ 3.35

Stock Based Compensation - Sche

Stock Based Compensation - Schedule Of Share Based Compensation Stock Options Activity (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Outstanding, Shares at Beginning	368,300
Granted, Shares	54,900	368,300
Outstanding, Shares at Ending	423,200	368,300
Fair value of vested shares	$ 903,072
Outstanding, Weighted Average Exercise Price at Beginning	$ 13.40
Granted, Weighted Average Exercise Price	11.90	$ 13.40
Outstanding, Weighted Average Exercise Price at Ending	$ 13.21	$ 13.40
Oustanding, Weighted Average Remaining Contractual Term	8 years 8 months 12 days
Granted, Weighted Average Remaining Contractual Term	9 years 8 months 12 days	9 years 4 months 24 days
Oustanding, Weighted Average Remaining Contractual Term	8 years 9 months 18 days	9 years 4 months 24 days

Common Stock - Additional infor

Common Stock - Additional information (Detail) - shares	Aug. 18, 2020	Dec. 02, 2019	May 14, 2019
Number of Shares Authorized to Repurchase	3,500,000	6,000,000
2019 Equity Incentive Plan Trust
Number of Shares Authorized to Repurchase			169,280
2019 Equity Incentive Plan Trust | Restricted Stock
Number of Shares Authorized to Repurchase			169,280

Common Stock - Schedule of Shar

Common Stock - Schedule of Share Repurchase program (Detail) - $ / shares	1 Months Ended
	Sep. 30, 2020	Aug. 31, 2020	Jul. 31, 2020	Jun. 30, 2020	May 31, 2020	Apr. 30, 2020	Mar. 31, 2020	Feb. 29, 2020	Jan. 31, 2020
Total Number of Shares Purchased		161	12,900	33,200	21,700	8,084	262,588	7,500	76,675
Average Price Paid per Share		$ 12.07	$ 12.19	$ 12.05	$ 11.94	$ 11.38	$ 13.55	$ 14.34	$ 14.23
Additional Paid-In Capital
Total Number of Shares Purchased	51,500	19,864
Average Price Paid per Share	$ 12.04	$ 12.03
2019 Equity Incentive Plan Trust
Total Number of Shares Purchased		6,000,000	5,998,057	5,840,800	5,440,665	5,181,581	5,089,565	1,531,121	1,423,565
Maximum Value of Shares That May Yet Be Purchased Under the Plan			1,943	159,200	559,335	818,419	910,435	4,468,879	4,576,435
2020 Equity Incentive Plan Trust | Additional Paid-In Capital
Total Number of Shares Purchased	859,140	239,063
Maximum Value of Shares That May Yet Be Purchased Under the Plan	2,640,860	3,260,937

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Earnings Per Share (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income	$ 250,842	$ 301,707	$ 555,221	$ 746,085
Weighted average common shares outstanding - basic	3,510,483	3,927,296	3,628,449	3,927,296
Weighted average common shares outstanding - dilutive	3,510,483	3,943,080	3,628,449	3,943,080
Earnings per common share, basic and diluted	$ 0.07	$ 0.08	$ 0.15	$ 0.19

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Schedule of Actual and Required Capital Amounts and Ratios of the Bank (Detail) $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Banking And Thrift Disclosure [Abstract]
Common equity tier 1 capital (to risk-weighted assets), actual amount	$ 43,028	$ 41,635
Total risk-based capital (to risk-weighted assets), actual amount	44,800	43,054
Tier 1 capital (to risk-weighted assets), actual amount	43,028	41,635
Tier 1 capital (to average assets), actual amount	$ 43,028	$ 41,635
Common equity tier 1 capital (to risk-weighted assets), actual ratio	27.33	27.74
Total risk-based capital (to risk-weighted assets), actual ratio	28.46	28.68
Tier 1 capital (to risk-weighted assets), actual ratio	27.33	27.74
Tier 1 capital (to average assets), actual ratio	18.28	19.08
Common equity tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	$ 10,234	$ 9,569
Total risk-based capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	15,744	14,823
Tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III amount	12,595	11,821
Tier 1 capital (to average assets), minimum regulatory capital ratios under Basel III amount	$ 9,417	$ 8,731
Common equity tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	6.50%	6.375%
Total risk-based capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	10	9.875
Tier 1 capital (to risk-weighted assets), minimum regulatory capital ratios under Basel III ratio	8	7.875
Tier 1 capital (to average assets), minimum regulatory capital ratios under Basel III ratio	4	4
Common equity tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III	$ 10,234	$ 9,757
Total risk-based capital (to risk-weighted assets), to be well capitalized under Basel III	15,744	15,010
Tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III	12,595	12,008
Tier 1 capital (to average assets), to be well capitalized under Basel III	$ 11,772	$ 10,913
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	10
Tier 1 capital (to risk-weighted assets), to be well capitalized under Basel III ratio	8	8
Tier 1 capital (to average assets), to be well capitalized under Basel III ratio	5	5

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Investment Securities Available for Sale (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale	$ 19,263,462	$ 37,090,591
U.S. Government Agency and Federal Obligations
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale	3,567,739	9,544,342
Residential Mortgage-Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale	15,695,723	26,010,539
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale	19,263,000	37,091,000
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	3,567,739	9,544,342
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	15,695,723	26,010,539
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
Fair Value Measurements on Recurring Basis | Level 2 | U.S. Government Agency and Federal Obligations
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale	3,567,739	9,544,342
Fair Value Measurements on Recurring Basis | Level 2 | Residential Mortgage-Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale	$ 15,695,723	26,010,539
Fair Value Measurements on Recurring Basis | Level 2 | Municipal Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities available for sale		$ 1,535,710

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair value of loan balance	$ 511,709	$ 2,828,148	$ 2,817,109
Written down value of loan balance	270	681	13,921
Foreclosed real estate	$ 775,000	$ 845,000	$ 845,000	$ 865,000

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Foreclosed Real Estate (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 775,000	$ 845,000	$ 845,000	$ 865,000
Fair Value Measurements on Non-Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impaired loans	511,439	2,827,467
Foreclosed real estate	775,000	845,000
Fair Value Measurements on Non-Recurring Basis | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impaired loans	511,439	2,827,467
Foreclosed real estate	$ 775,000	$ 845,000

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Non-Recurring Basis (Detail)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreclosed real estate	$ 775,000	$ 845,000	$ 845,000	$ 865,000
Fair Value Measurements on Non-Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impaired loans	511,439	2,827,467
Foreclosed real estate	$ 775,000	$ 845,000
Fair Value Measurements on Non-Recurring Basis | Appraised value | Measurement Input, Discount Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rates	0.1092	0.1011
Fair Value Measurements on Non-Recurring Basis | Discounted cash flows | Measurement Input, Discount Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rates	0.0750	0.0750
Fair Value Measurements on Non-Recurring Basis | Minimum [Member] | Appraised value | Measurement Input, Discount Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rates	0	0

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Estimated Fair Values of the Bank's Financial Instruments (Detail) - USD ($)		Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Financial assets:
Cash and cash equivalents		$ 33,162,143	$ 5,987,121	$ 10,153,336	$ 18,846,760
Securities available for sale		19,263,462	37,090,591
Federal Home Loan Bank stock		410,900	300,400
Loans held for sale		4,061,870	1,730,430
Net loans		159,169,819	158,245,461
Accrued interest receivable		725,651	655,146
Financial liabilities:
Deposits		172,384,949	156,440,873
Level 1
Financial assets:
Cash and cash equivalents		33,162,000	5,987,000
Level 2
Financial assets:
Time deposits in other banks		7,264,000	8,127,000
Securities available for sale		19,263,000	37,091,000
Federal Home Loan Bank stock		411,000	300,000
Loans held for sale		4,168,000	1,823,000
Accrued interest receivable		726,000	655,000
Financial liabilities:
Deposits		167,206,000	145,617,000
Borrowings		5,191,000	2,550,000
Level 3
Financial assets:
Net loans	[1]	163,272,000	161,954,000
Carrying Value
Financial assets:
Cash and cash equivalents		33,162,000	5,987,000
Time deposits in other banks		6,944,000	7,936,000
Securities available for sale		19,263,000	37,091,000
Federal Home Loan Bank stock		411,000	300,000
Loans held for sale		4,062,000	1,730,000
Net loans	[1]	159,170,000	158,245,000
Accrued interest receivable		726,000	655,000
Financial liabilities:
Deposits		172,385,000	156,441,000
Borrowings		5,000,000	2,500,000
Fair Value
Financial assets:
Cash and cash equivalents		33,162,000	5,987,000
Time deposits in other banks		7,264,000	8,127,000
Securities available for sale		19,263,000	37,091,000
Federal Home Loan Bank stock		411,000	300,000
Loans held for sale		4,168,000	1,823,000
Net loans	[1]	163,272,000	161,954,000
Accrued interest receivable		726,000	655,000
Financial liabilities:
Deposits		167,206,000	145,617,000
Borrowings		$ 5,191,000	$ 2,550,000
[1]	Carrying amount is net of unearned income and the allowance for loan losses. In accordance with the prospective adoption of ASU No. 2016-01, the fair value of loans was measured using an exit price notion.