Richmond Mutual Bancorporation (RMBI) 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 10, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-38956
Entity Registrant Name	RICHMOND MUTUAL BANCORPORATION, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	36-4926041
Entity Address, Address Line One	31 North 9th Street
Entity Address, City or Town	Richmond
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47374
City Area Code	765
Local Phone Number	962-2581
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	RMBI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,795,238
Registrant CIK	0001767837
Fiscal Year End	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 12,772,784	$ 8,473,558
Interest-bearing demand deposits	6,578,777	14,564,587
Cash and cash equivalents	19,351,561	23,038,145
Investment securities - available for sale	279,744,683	357,537,845
Investment securities - held to maturity	7,359,705	9,040,825
Loans held for sale	78,000	557,500
Loans and leases, net of allowance for losses of $12,556,000 and $12,108,000, respectively	915,464,191	832,846,017
Premises and equipment, net	13,775,644	14,347,088
Federal Home Loan Bank stock	9,902,300	9,992,400
Interest receivable	3,960,596	4,192,827
Mortgage-servicing rights	1,738,700	1,646,509
Cash surrender value of life insurance	3,652,045	3,619,140
Other assets	23,578,593	10,821,445
Total assets	1,278,606,018	1,267,639,741
Liabilities
Noninterest-bearing deposits	114,779,593	114,302,794
Interest-bearing deposits	843,860,760	785,872,606
Total deposits	958,640,353	900,175,400
Federal Home Loan Bank advances	187,000,000	180,000,000
Advances by borrowers for taxes and insurance	599,985	531,030
Interest payable	676,184	258,032
Other liabilities	6,717,141	6,193,944
Total liabilities	1,153,633,663	1,087,158,406
Commitments and Contingent Liabilities	0	0
Stockholders' Equity
Common stock	118,024	124,002
Additional paid-in capital	105,945,726	114,339,810
Retained earnings	86,495,710	80,157,893
Unearned employee stock ownership plan (ESOP)	(12,376,872)	(12,928,359)
Accumulated other comprehensive loss	(55,210,233)	(1,212,011)
Total stockholders' equity	124,972,355	180,481,335
Total liabilities and stockholders' equity	$ 1,278,606,018	$ 1,267,639,741

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets - Parenthetical - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for loan and lease losses	$ 12,556,000	$ 12,108,000
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, shares issued (in shares)	11,802,424	12,400,195
Common stock, shares outstanding (in shares)	11,802,424	12,400,195

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest Income
Loans and leases	$ 11,302,066	$ 10,437,783	$ 32,250,396	$ 30,161,755
Investment securities	1,832,459	1,456,124	5,234,954	3,714,207
Other	35,588	6,581	74,696	19,559
Total interest income	13,170,113	11,900,488	37,560,046	33,895,521
Interest Expense
Deposits	1,798,748	1,253,901	4,322,229	3,662,562
Borrowings	858,592	688,533	2,122,778	2,083,095
Total interest expense	2,657,340	1,942,434	6,445,007	5,745,657
Net Interest Income	10,512,773	9,958,054	31,115,039	28,149,864
Provision for losses on loans and leases	200,000	500,000	600,000	1,430,000
Net Interest Income After Provision for Losses on Loans and Leases	10,312,773	9,458,054	30,515,039	26,719,864
Noninterest Income
Service charges on deposit accounts	259,948	236,204	742,905	629,425
Card fee income	298,191	266,497	877,974	783,700
Loan and lease servicing fees	235,973	(181,498)	441,912	(38,210)
Net gains on securities (includes $0, $17,887, $0, and $55,799, respectively, related to accumulated other comprehensive income reclassifications)	0	17,887	0	55,799
Net gains on loan and lease sales	116,155	556,664	580,919	2,090,892
Other income	273,376	249,184	831,771	791,648
Total noninterest income	1,183,643	1,144,938	3,475,481	4,313,254
Noninterest Expenses
Salaries and employee benefits	4,710,284	4,217,780	13,676,443	12,977,382
Net occupancy expenses	336,270	321,473	1,047,582	945,806
Equipment expenses	317,814	334,187	951,781	985,951
Data processing fees	743,526	512,917	1,970,350	1,601,704
Deposit insurance expense	86,000	76,000	248,000	211,000
Printing and office supplies	45,155	44,705	140,222	122,516
Legal and professional fees	376,323	302,528	1,059,685	937,569
Advertising expense	85,050	103,118	281,045	268,988
Bank service charges	42,495	39,327	103,253	99,074
Real estate owned expense	14,248	4,329	22,534	15,031
Loss on sale of real estate owned	0	0	847	1,278
Other expenses	965,508	887,939	2,712,418	2,535,140
Total noninterest expenses	7,722,673	6,844,303	22,214,160	20,701,439
Income Before Income Tax Expense	3,773,743	3,758,689	11,776,360	10,331,679
Provision for income taxes (includes $0, $3,756, $0, and $11,718, respectively, related to income tax expense from reclassification of items)	615,515	676,414	2,115,198	1,905,571
Net Income	$ 3,158,228	$ 3,082,275	$ 9,661,162	$ 8,426,108
Earnings Per Share
Basic (in USD per share)	$ 0.30	$ 0.28	$ 0.89	$ 0.74
Diluted (in USD per share)	$ 0.29	$ 0.27	$ 0.87	$ 0.72

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income - Parenthetical - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Accumulated other comprehensive loss reclassifications	$ 0	$ 17,887	$ 0	$ 55,799
Provision for income tax expense from reclassification of items	$ 0	$ 3,756	$ 0	$ 11,718

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,158,228	$ 3,082,275	$ 9,661,162	$ 8,426,108
Other Comprehensive (Loss) Income
Unrealized (loss) gain on available-for-sale securities, net of tax (benefit) expense of $(4,245,908), $(774,714), $(14,353,958), and $(1,310,569), respectively.	(15,972,703)	(2,914,399)	(53,998,222)	(4,930,236)
Less: reclassification adjustment for realized gains included in net income, net of tax expense of $0, $3,756, $0, and $11,718, respectively.	0	14,131	0	44,081
Other comprehensive income, net of tax	(15,972,703)	(2,928,530)	(53,998,222)	(4,974,317)
Comprehensive (Loss) Income	$ (12,814,475)	$ 153,745	$ (44,337,060)	$ 3,451,791

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive (Loss) Income - Parenthetical - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Available for sale securities income tax expense (benefit)	$ (4,245,908)	$ (774,714)	$ (14,353,958)	$ (1,310,569)
Reclassification adjustment income tax expense (benefit)	$ 0	$ 3,756	$ 0	$ 11,718

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020		13,193,760
Beginning balance at Dec. 31, 2020	$ 192,712,708	$ 131,938	$ 124,246,425	$ 78,290,113	$ (13,664,373)	$ 3,708,605
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,426,108			8,426,108
Other comprehensive loss	(4,974,317)					(4,974,317)
ESOP shares earned	580,576		28,391		552,185
Granting of restricted stock awards (in shares)		4,000
Granting of restricted stock awards	0	$ 40	(40)
Stock based compensation	1,423,236		1,423,236
Exercised (in shares)		12,116
Exercise of stock options	127,581	$ 121	127,460
Common stock dividends	(8,478,392)			(8,478,392)
Repurchase of common stock (in shares)		(777,692)
Repurchase of common stock	(11,179,801)	$ (7,777)	(11,172,024)
Ending balance (in shares) at Sep. 30, 2021		12,432,184
Ending balance at Sep. 30, 2021	178,637,699	$ 124,322	114,653,448	78,237,829	(13,112,188)	(1,265,712)
Beginning balance (in shares) at Jun. 30, 2021		12,684,977
Beginning balance at Jun. 30, 2021	182,569,310	$ 126,850	118,118,524	75,957,135	(13,296,017)	1,662,818
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,082,275			3,082,275
Other comprehensive loss	(2,928,530)					(2,928,530)
ESOP shares earned	207,062		23,233		183,829
Stock based compensation	387,853		387,853
Exercised (in shares)		12,116
Exercise of stock options	127,581	$ 121	127,460
Common stock dividends	(801,581)			(801,581)
Repurchase of common stock (in shares)		(264,909)
Repurchase of common stock	(4,006,271)	$ (2,649)	(4,003,622)
Ending balance (in shares) at Sep. 30, 2021		12,432,184
Ending balance at Sep. 30, 2021	178,637,699	$ 124,322	114,653,448	78,237,829	(13,112,188)	(1,265,712)
Beginning balance (in shares) at Dec. 31, 2021		12,400,195
Beginning balance at Dec. 31, 2021	180,481,335	$ 124,002	114,339,810	80,157,893	(12,928,359)	(1,212,011)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9,661,162			9,661,162
Other comprehensive loss	(53,998,222)					(53,998,222)
ESOP shares earned	621,540		70,053		551,487
Stock based compensation	$ 1,150,898		1,150,898
Exercised (in shares)	0
Common stock dividends	$ (3,323,345)			(3,323,345)
Repurchase of common stock (in shares)		(597,771)
Repurchase of common stock	(9,621,013)	$ (5,978)	(9,615,035)
Ending balance (in shares) at Sep. 30, 2022		11,802,424
Ending balance at Sep. 30, 2022	124,972,355	$ 118,024	105,945,726	86,495,710	(12,376,872)	(55,210,233)
Beginning balance (in shares) at Jun. 30, 2022		11,848,113
Beginning balance at Jun. 30, 2022	138,944,756	$ 118,481	106,200,912	84,423,594	(12,560,701)	(39,237,530)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,158,228			3,158,228
Other comprehensive loss	(15,972,703)					(15,972,703)
ESOP shares earned	187,815		3,986		183,829
Stock based compensation	387,840		387,840
Common stock dividends	(1,086,112)			(1,086,112)
Repurchase of common stock (in shares)		(45,689)
Repurchase of common stock	(647,469)	$ (457)	(647,012)
Ending balance (in shares) at Sep. 30, 2022		11,802,424
Ending balance at Sep. 30, 2022	$ 124,972,355	$ 118,024	$ 105,945,726	$ 86,495,710	$ (12,376,872)	$ (55,210,233)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Stockholders' Equity - Parenthetical - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividend (in USD per share)	$ 0.10	$ 0.07	$ 0.30	$ 0.71

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities
Net income	$ 9,661,162	$ 8,426,108
Items not requiring (providing) cash
Provision for loan losses	600,000	1,430,000
Depreciation and amortization	798,950	858,190
Deferred income tax	(191,231)	(393,026)
Stock based compensation	1,150,898	1,423,236
Investment securities amortization, net	1,209,698	1,977,350
Investment securities gains	0	(55,799)
Net gains on loan and lease sales	(580,919)	(2,090,892)
Loss on sale of real estate owned	847	1,278
Accretion of loan origination fees	(1,276,232)	(2,530,686)
Amortization of mortgage-servicing rights	177,063	320,193
ESOP shares expense	621,540	580,576
Increase in cash surrender value of life insurance	(32,905)	(69,994)
Loans originated for sale	(26,627,670)	(65,375,624)
Proceeds on loans sold	26,148,170	64,292,174
Net change in
Interest receivable	232,231	691,833
Other assets	1,762,400	(3,470,593)
Other liabilities	523,197	(2,659,207)
Interest payable	418,152	(23,304)
Net cash provided by operating activities	14,595,351	3,331,813
Investing Activities
Purchases of securities available for sale	(19,441,154)	(176,924,319)
Proceeds from maturities and paydowns of securities available for sale	27,668,608	49,817,156
Proceeds from sales of securities available for sale	0	5,296,929
Proceeds from maturities and paydowns of securities held to maturity	1,672,451	2,664,935
Net change in loans	(80,718,636)	(56,209,011)
Proceeds from sales of real estate owned	84,652	30,270
Purchases of premises and equipment	(227,506)	(192,612)
Change in FHLB stock	90,100	(492,800)
Net cash used in investing activities	(70,871,485)	(176,009,452)
Net change in
Demand and savings deposits	18,906,312	62,873,251
Certificates of deposit	39,558,641	68,338,184
Advances by borrowers for taxes and insurance	68,955	65,664
Proceeds from FHLB advances	207,000,000	134,000,000
Repayment of FHLB advances	(200,000,000)	(102,000,000)
Repurchase of common stock	(9,621,013)	(11,179,801)
Proceeds from stock option exercises	0	127,581
Dividends paid	(3,323,345)	(8,478,392)
Net cash provided by financing activities	52,589,550	143,746,487
Net Change in Cash and Cash Equivalents	(3,686,584)	(28,931,152)
Cash and Cash Equivalents, Beginning of Period	23,038,145	48,768,457
Cash and Cash Equivalents, End of Period	19,351,561	19,837,305
Additional Cash Flows and Supplementary Information
Interest paid	6,026,855	5,768,961
Transfers from loans to other real estate owned	$ 126,000	$ 0

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial information is unaudited and has been prepared from the consolidated financial statements of Richmond Mutual Bancorporation, Inc., and its wholly owned direct and indirect subsidiaries, First Bank Richmond, First Insurance Management, Inc., and FB Richmond Holdings, Inc. References in this document to Richmond Mutual Bancorporation refer to Richmond Mutual Bancorporation, Inc. References to “we,” “us,” and “our” or the “Company” refers to Richmond Mutual Bancorporation and its wholly-owned direct and indirect subsidiaries, First Bank Richmond, First Insurance Management, Inc., FB Richmond Holdings, Inc. and FB Richmond Properties, Inc., unless the context otherwise requires. First Bank Richmond is an Indiana state-chartered commercial bank headquartered in Richmond, Indiana and the wholly owned banking subsidiary of Richmond Mutual Bancorporation. First Bank Richmond provides full banking services through its seven full- and one limited-service offices located in Cambridge City (1), Centerville (1), Richmond (5) and Shelbyville (1), Indiana, its five full-service offices located in Piqua (2), Sidney (2) and Troy (1), Ohio, and its loan production office in Columbus, Ohio. Administrative, trust and wealth management services are conducted through First Bank Richmond's Corporate Office/Financial Center located in Richmond, Indiana. As an Indiana-chartered commercial bank, First Bank Richmond is subject to regulation by the IDFI and the FDIC. First Insurance Management, Inc., a wholly-owned subsidiary of the Company which was formed and began operations in June 2022, is a Nevada-based captive insurance company that insures against certain risks unique to the operations of the Company and its subsidiaries and for which insurance may not be currently available or economically feasible in today's insurance marketplace. First Insurance Management, Inc. is subject to the regulations of the State of Nevada and undergoes periodic examinations by the Nevada Division of Insurance. FB Richmond Holdings, Inc., a wholly-owned subsidiary of First Bank Richmond which was formed and began operations in April 2020, is a Nevada corporation that holds and manages substantially all of First Bank Richmond's investment portfolio. FB Richmond Holdings, Inc. has one active subsidiary, FB Richmond Properties, Inc., a Delaware corporation which holds loans on behalf of the Bank. The accompanying unaudited condensed consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include information or note disclosures necessary for a complete presentation of financial position, results of operations, and cash flows in conformity with generally accepted accounting principles. Accordingly, these financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 30, 2022 (SEC File No. 001-38956). However, in the opinion of management, all adjustments which are necessary for a fair presentation of the consolidated financial statements have been included. Those adjustments consist only of normal recurring adjustments. The results of operations for the period are not necessarily indicative of the results to be expected for the full year. Loans For all loan classes, the accrual of interest is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. For all loan classes, the entire balance of the loan is considered past due if the minimum payment contractually required to be paid is not received by the contractual due date. For all loan classes, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. The Company charges off residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance, which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value, less costs to sell when the loan is 120 days past due, charge-off of unsecured open-end loans when the loan is 90 days past due, and charge down to the net realizable value when other secured loans are 90 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. For all classes, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status. When cash payments are received on impaired loans in each loan class, the Company records the payment as interest income unless collection of the remaining recorded principal amount is doubtful, at which time payments are used to reduce the principal balance of the loan. Troubled debt restructured loans recognize interest income on an accrual basis at the renegotiated rate if the loan is in compliance with the modified terms, no principal reduction has been granted and the loan has demonstrated the ability to perform in accordance with the renegotiated terms for a period of at least six months.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	Accounting Pronouncements In March 2020, the novel coronavirus disease of 2019 ("COVID-19") was identified as a global pandemic and began affecting the health of large populations around the world. As a result of the spread of COVID-19, economic uncertainties arose which can ultimately affect the financial position, results of operations and cash flows of the Company, as well as the Company's customers. In response to economic concerns over COVID-19, in March 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was passed into law by the U.S. Congress. The CARES Act included relief for individual Americans, health care workers, small businesses and certain industries hit hard by the COVID-19 pandemic. The 2021 Consolidated Appropriations Act , passed by Congress in December 2020, extended certain provisions of the CARES Act affecting the Company into 2022. The CARES Act included several provisions designed to help financial institutions like the Company in working with their customers. Section 4013 of the CARES Act, as extended, allows a financial institution to elect to suspend generally accepted accounting principles and regulatory determinations with respect to qualifying loan modifications related to COVID-19 that would otherwise be categorized as a troubled debt restructuring ("TDR") until January 1, 2022. The Company has taken advantage of this provision to extend certain payment modifications to loan customers in need. As of September 30, 2022 the Company had no loans outstanding that were modified under the CARES Act guidance. The CARES Act also approved the Paycheck Protection Program ("PPP"), administered by the Small Business Administration ("SBA") with funding provided by financial institutions. The 2021 Consolidated Appropriations Act approved a new round of PPP loans in 2021. The PPP provides loans to eligible businesses through financial institutions like First Bank Richmond, with loans being eligible for forgiveness of some or all of the principal amount by the SBA if the borrower meets certain requirements. The SBA guarantees repayment of the loans if the borrower's loan is not forgiven and is then not repaid by the member. The Company earns a 1% interest rate on PPP loans, plus a processing fee from the SBA for processing and originating a loan. The Company originated $38.2 million in PPP loans during 2021, of which $1.2 million were outstanding at September 30, 2022. The Jumpstart Our Business Startups Act (the "JOBS Act"), enacted in April 2012, has made numerous changes to the federal securities laws to facilitate access to capital markets. Under the JOBS Act, a company with total annual gross revenues of less than $1.07 billion during its most recently completed fiscal year qualifies as an “emerging growth company.” The Company qualifies as and has elected to be an emerging growth company under the JOBS Act. An emerging growth company may elect to comply with new or amended accounting pronouncements in the same manner as a private company, but must make such election when the company is first required to file a registration statement. Such an election is irrevocable during the period a company is an emerging growth company. The Company has elected to comply with new or amended accounting pronouncements in the same manner as a private company. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments-Credit Losses (Topic 326). The ASU is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief”. This ASU provides transition relief for entities adopting the FASB’s credit losses standard, ASU 2016-13 and allows companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option for certain financial instruments. In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments”. ASU No. 2019-04 clarifies certain aspects of accounting for credit losses, hedging activities, and financial instruments. In October 2019, the FASB voted to extend the implementation of ASU No. 2016-13 for certain financial institutions including smaller reporting companies. As a result, ASU 2016-13 will be effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company is evaluating its current expected credit loss ("CECL") methodology on the loan and investment portfolios to identify the necessary modifications in accordance with ASU 2016-13. A CECL implementation team consisting of management from multiple areas of the Company have been involved in evaluating loss estimation methods and application of these methods to the specific segments and subsegments of the loan portfolio. Management has been actively monitoring FASB developments and evaluating the use of the different methods allowed. Due to continuing development of our methodology, additional time is required to quantify the effect of CECL on the Company's Consolidated Financial Statements. The Company continues to refine its modeling and will finalize a method or methods of adoption in time for the effective date. In March 2022 the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminates the accounting guidance for troubled debt restructured loans (“TDRs”) by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. This ASU will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, upon the Company’s adoption of the amendments in ASU 2016-13, which is commonly referred to as the current expected credit loss methodology. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU applies to contracts, hedging relationships and other transactions that reference LIBOR or other rate references expected to be discontinued because of reference rate reform. The ASU permits an entity to make necessary modifications to eligible contracts or transactions without requiring contract remeasurement or reassessment of a previous accounting determination. This ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company does not expect the adoption of ASU No. 2020-04 to have a material impact on its consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-08, “Receivables – Nonrefundable Fees and Other Costs”. ASU No. 2020-08 clarifies that the Company should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. ASU No. 2020-08 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The adoption of ASU No. 2020-08 did not have a material impact on the Company's consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . ASU No. 2019-12 provides that state franchise or similar taxes that are based, at least in part on an entity’s income, be included in an entity’s income tax recognized as income-based taxes. The ASU further clarifies that the effect of any change in tax laws or rates used in the computation of the annual effective tax rate are required to be reflected in the first interim period that includes the enactment date of the legislation. Technical changes to eliminate exceptions to Topic 740 related to intra-period tax allocations for entities with losses from continuing operations, deferred tax liabilities related to change in ownership of foreign entities, and interim-period tax allocations for businesses with losses where the losses are expected to be realized. The amendments in ASU No. 2019-12 are effective for public business entities with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted ASU No. 2019-12 on January 1, 2021. The adoption of ASU No. 2019-12 did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . This ASU contains some technical adjustments related to the fair value disclosure requirements of public companies. Included in this ASU is the additional disclosure requirement of unrealized In February 2016, the FASB issued ASU No. 2016-02, Leases

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: September 30, 2022 Amortized Gross Gross Fair Available for sale U.S. treasury securities $ 396 $ — $ 2 $ 394 SBA Pools 7,073 2 624 6,451 Federal agencies 15,000 — 2,483 12,517 State and municipal obligations 171,709 — 41,769 129,940 Mortgage-backed securities - government-sponsored enterprises (GSE) residential 143,954 — 23,442 120,512 Corporate obligations 11,500 — 1,569 9,931 349,632 2 69,889 279,745 Held to maturity State and municipal obligations 7,360 16 266 7,110 7,360 16 266 7,110 Total investment securities $ 356,992 $ 18 $ 70,155 $ 286,855 December 31, 2021 Amortized Gross Gross Fair Available for sale SBA Pools $ 8,691 $ 29 $ 107 $ 8,613 Federal agencies 15,000 — 274 14,726 State and municipal obligations 166,489 2,261 1,298 167,452 Mortgage-backed securities - government-sponsored enterprises (GSE) residential 164,629 712 2,831 162,510 Corporate obligations 4,250 2 28 4,224 Equity securities 13 — — 13 359,072 3,004 4,538 357,538 Held to maturity State and municipal obligations 9,041 147 2 9,186 9,041 147 2 9,186 Total investment securities $ 368,113 $ 3,151 $ 4,540 $ 366,724 The amortized cost and fair value of securities at September 30, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available for Sale Held to Maturity Amortized Fair Amortized Fair Within one year $ 1,875 $ 1,864 $ 1,779 $ 1,764 One to five years 13,099 12,027 3,776 3,654 Five to ten years 42,462 37,468 915 901 After ten years 148,242 107,874 890 791 205,678 159,233 7,360 7,110 Mortgage-backed securities –GSE residential 143,954 120,512 — — Totals $ 349,632 $ 279,745 $ 7,360 $ 7,110 Securities with a carrying value of $168,356,000 and $136,463,000 were pledged at September 30, 2022 and December 31, 2021, respectively, to secure certain deposits and for other purposes as permitted or required by law. There were no sales of securities available for sale for the three and nine months ended September 30, 2022. Proceeds from sales of securities available for sale for the three and nine months ended September 30, 2021 were $1,316,000 and $5,297,000, respectively. Gross gains were recognized on the sale of securities available-for-sale for the three and nine months ended September 30, 2021 of $18,000 and $56,000, respectively. There were no gross losses recognized on the sale of securities available for sale for the three and nine months ended September 30, 2021. Certain investments in debt securities, as reflected in the table below, are reported in the condensed consolidated financial statements and notes at an amount less than their historical cost. Total fair value of these investments at September 30, 2022 and December 31, 2021 was $285,249,000 and $223,842,000, respectively, which is approximately 99% and 61% of the Company’s aggregated available-for-sale and held-to-maturity investment portfolio at those dates, respectively. These declines primarily resulted from changes in market interest rates since their purchase. Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. Should the impairment of any other securities become other-than-temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. The following tables show the Company’s investments by gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021: Description of September 30, 2022 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale U.S. Treasury Securities $ 394 $ 2 $ — $ — $ 394 $ 2 SBA Pools 2,033 252 3,827 372 5,860 624 Federal agencies 1,712 288 10,805 2,195 12,517 2,483 State and municipal obligations 78,093 17,636 51,283 24,133 129,376 41,769 Mortgage-backed securities - GSE residential 55,301 7,962 65,211 15,480 120,512 23,442 Corporate obligations 8,197 1,303 1,734 266 9,931 1,569 Total available-for-sale 145,730 27,443 132,860 42,446 278,590 69,889 Held-to-maturity State and municipal obligations 6,247 259 412 7 6,659 266 Total temporarily impaired securities $ 151,977 $ 27,702 $ 133,272 $ 42,453 $ 285,249 $ 70,155 Description of December 31, 2021 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale SBA Pools $ 2,838 $ 81 $ 3,214 $ 26 $ 6,052 $ 107 Federal agencies 14,726 274 — — 14,726 274 State and municipal obligations 74,235 1,044 7,809 254 82,044 1,298 Mortgage-backed securities - GSE residential 111,104 2,576 6,523 255 117,627 2,831 Corporate obligations 2,972 28 — — 2,972 28 Total available-for-sale 205,875 4,003 17,546 535 223,421 4,538 Held-to-maturity State and municipal obligations 421 2 — — 421 2 Total temporarily impaired securities $ 206,296 $ 4,005 $ 17,546 $ 535 $ 223,842 $ 4,540 Federal Agency Obligations. The unrealized losses on the Company’s investments in direct obligations of U.S. federal agencies were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2022. SBA Pools and Mortgage-Backed Securities - GSE Residential. The unrealized losses on the Company’s investment in mortgage-backed securities and SBA pools were caused by interest rate changes and illiquidity. The Company expects to recover the amortized cost basis over the term of the securities. Because the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2022. State, Municipal, and Corporate Obligations. The unrealized losses on the Company’s investments in securities of state and municipal obligations were caused by interest rate changes and illiquidity. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company

Loans, Leases and Allowance

Loans, Leases and Allowance	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Loans, Leases and Allowance	Loans, Leases and Allowance The following table shows the composition of the loan and lease portfolio at September 30, 2022 and December 31, 2021: September 30, December 31, Commercial mortgage $ 282,758 $ 261,202 Commercial and industrial 96,720 99,682 Construction and development 140,035 93,678 Multi-family 107,640 107,421 Residential mortgage 141,162 134,155 Home equity 9,750 7,146 Direct financing leases 129,884 126,762 Consumer 20,806 15,905 928,755 845,951 Less Allowance for loan and lease losses 12,556 12,108 Deferred loan fees 735 997 $ 915,464 $ 832,846 The following tables present the activity in the allowance for loan and lease losses for the three and nine months ended September 30, 2022 and 2021: Balance, beginning of period Provision (credit) for losses Charge-offs Recoveries Balance, end of period Three Months Ended September 30, 2022: Commercial mortgage $ 4,804 $ (36) $ — $ 7 $ 4,775 Commercial and industrial 1,504 (105) — 26 1,425 Construction and development 2,423 565 — — 2,988 Multi-family 2,046 (254) — — 1,792 Residential mortgage 196 5 (17) 6 190 Home equity 34 — — — 34 Leases 1,139 (59) (105) 112 1,087 Consumer 235 84 (60) 6 265 Total $ 12,381 $ 200 $ (182) $ 157 $ 12,556 Nine Months Ended September 30, 2022: Commercial mortgage $ 4,742 $ (15) $ — $ 48 $ 4,775 Commercial and industrial 1,639 (277) — 63 1,425 Construction and development 2,286 702 — — 2,988 Multi-family 1,875 (83) — — 1,792 Residential mortgage 263 (81) (17) 25 190 Home equity 29 5 — — 34 Leases 1,079 182 (304) 130 1,087 Consumer 195 167 (114) 17 265 Total $ 12,108 $ 600 $ (435) $ 283 $ 12,556 Balance, beginning of period Provision (credit) for losses Charge-offs Recoveries Balance, end of period Three Months Ended September 30, 2021: Commercial mortgage $ 4,517 $ 156 $ (25) $ 7 $ 4,655 Commercial and industrial 1,951 (214) — 21 1,758 Construction and development 2,009 88 — — 2,097 Multi-family 1,353 273 — — 1,626 Residential mortgage 368 138 (80) 16 442 Home equity 23 5 — — 28 Leases 1,010 59 (31) 9 1,047 Consumer 200 (5) (8) 9 196 Total $ 11,431 $ 500 $ (144) $ 62 $ 11,849 Nine Months Ended September 30, 2021: Commercial mortgage $ 4,628 $ 33 $ (25) $ 19 $ 4,655 Commercial and industrial 2,271 (580) (3) 70 1,758 Construction and development 1,068 1,029 — — 2,097 Multi-family 1,039 587 — — 1,626 Residential mortgage 323 126 (80) 73 442 Home equity 18 10 — — 28 Leases 1,054 201 (396) 188 1,047 Consumer 185 24 (83) 70 196 Total $ 10,586 $ 1,430 $ (587) $ 420 $ 11,849 The following tables present the balance in the allowance for loan and lease losses and the recorded investment in loans and leases based on portfolio segment and impairment method as of September 30, 2022 and December 31, 2021: Allowance for loan and lease losses: Loans and leases: Individually evaluated for impairment Collectively evaluated for impairment Balance Individually evaluated for impairment Collectively evaluated for impairment Balance As of September 30, 2022: Commercial mortgage $ — $ 4,775 $ 4,775 $ — $ 282,758 $ 282,758 Commercial and industrial 296 1,129 1,425 963 95,757 96,720 Construction and development 750 2,238 2,988 4,900 135,135 140,035 Multi-family — 1,792 1,792 — 107,640 107,640 Residential mortgage — 190 190 114 141,048 141,162 Home equity — 34 34 — 9,750 9,750 Leases — 1,087 1,087 — 129,884 129,884 Consumer — 265 265 — 20,806 20,806 Total $ 1,046 $ 11,510 $ 12,556 $ 5,977 $ 922,778 $ 928,755 Allowance for loan and lease losses: Loans and leases: Individually evaluated for impairment Collectively evaluated for impairment Balance Individually evaluated for impairment Collectively evaluated for impairment Balance As of December 31, 2021: Commercial mortgage $ — $ 4,742 $ 4,742 $ 128 $ 261,074 $ 261,202 Commercial and industrial 299 1,340 1,639 995 98,687 99,682 Construction and development 750 1,536 2,286 4,900 88,778 93,678 Multi-family — 1,875 1,875 — 107,421 107,421 Residential mortgage — 263 263 119 134,036 134,155 Home equity — 29 29 — 7,146 7,146 Leases — 1,079 1,079 — 126,762 126,762 Consumer — 195 195 — 15,905 15,905 Total $ 1,049 $ 11,059 $ 12,108 $ 6,142 $ 839,809 $ 845,951 The Company rates all loans and leases by credit quality using the following designations: Grade 1 – Exceptional Exceptional loans and leases are top-quality loans to individuals whose financial credentials are well known to the Company. These loans and leases have excellent sources of repayment, are well documented and/or virtually free of risk (i.e., CD secured loans). Grade 2 – Quality Loans and Leases These loans and leases have excellent sources of repayment with no identifiable risk of collection, and they conform in all respects to Company policy and Indiana Department of Financial Institutions (“IDFI”) and Federal Deposit Insurance Corporation (“FDIC”) regulations. Documentation exceptions are minimal or are in the process of being corrected and are not of a type that could subsequently expose the Company to risk of loss. Grade 3 – Acceptable Loans This category is for “average” quality loans and leases. These loans and leases have adequate sources of repayment with little identifiable risk of collection and they conform to Company policy and IDFI/FDIC regulations. Grade 4 – Acceptable but Monitored Loans and leases in this category may have a greater than average risk due to financial weakness or uncertainty but do not appear to require classification as special mention or substandard loans. Loans and leases rated “4” need to be monitored on a regular basis to ascertain that the reasons for placing them in this category do not advance or worsen. Grade 5 – Special Mention Loans and leases in this category have 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 lease or in the Company’s credit position at some future date. Special Mention loans and leases are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. This special mention rating is designed to identify a specific level of risk and concern about an asset’s quality. Although a special mention loan or leases has a higher probability of default than a pass rated loan or lease, its default is not imminent. Grade 6 – Substandard Loans and leases in this category are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans and leases so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Substandard loans and leases have a high probability of payment default, or they have other well-defined weaknesses. Such loans and leases have a distinct potential for loss; however, an individual loan’s or lease’s potential for loss does not have to be distinct for the loan or lease to be rated substandard. The following are examples of situations that might cause a loan or lease to be graded a “6”: • Cash flow deficiencies (losses) jeopardize future loan or lease payments. • Sale of non-collateral assets has become a primary source of loan or lease repayment. • The relationship has deteriorated to the point that sale of collateral is now the Company’s primary source of repayment, unless this was the original source of loan or lease repayment. • The borrower is bankrupt or for any other reason future repayment is dependent on court action. Grade 7 – Doubtful A loan or lease classified as doubtful has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly questionable and improbable. A doubtful loan or lease has a high probability of total or substantial loss. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. Because of high probability of loss, nonaccrual accounting treatment will be required for doubtful loans and leases. Grade 8 – Loss Loans and leases classified loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan or lease has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan or lease even though partial recovery may be effected in the future. No material changes have been made to the risk characteristics pertaining to the loan and lease portfolio contained in the Company's 2021 Form 10-K. The following tables present the credit risk profile of the Company’s loan and lease portfolio based on rating category and payment activity as of September 30, 2022 and December 31, 2021: Pass Special Mention Substandard Doubtful Loss Total As of September 30, 2022: Commercial mortgage $ 279,529 $ 3,229 $ — $ — $ — $ 282,758 Commercial and industrial 88,283 7,474 963 — — 96,720 Construction and development 135,135 — 4,900 — — 140,035 Multi-family 107,640 — — — — 107,640 Residential mortgage 139,340 — 1,822 — — 141,162 Home equity 9,692 — 58 — — 9,750 Leases 129,553 173 125 33 — 129,884 Consumer 20,717 — 89 — — 20,806 Total $ 909,889 $ 10,876 $ 7,957 $ 33 $ — $ 928,755 Pass Special Mention Substandard Doubtful Loss Total As of December 31, 2021: Commercial mortgage $ 256,043 $ 5,031 $ 128 $ — $ — $ 261,202 Commercial and industrial 91,082 7,191 1,409 — — 99,682 Construction and development 88,778 — 4,900 — — 93,678 Multi-family 107,421 — — — — 107,421 Residential mortgage 132,223 — 1,932 — — 134,155 Home equity 7,097 — 49 — — 7,146 Leases 126,707 — 13 42 — 126,762 Consumer 15,883 — 22 — — 15,905 Total $ 825,234 $ 12,222 $ 8,453 $ 42 $ — $ 845,951 The following tables present the Company’s loan and lease portfolio aging analysis of the recorded investment in loans and leases as of September 30, 2022 and December 31, 2021: September 30, 2022 Delinquent Loans and Leases Current Total Total Loans 30-59 Days 60-89 Days 90 Days and Total Past Commercial mortgage $ — $ — $ — $ — $ 282,758 $ 282,758 $ — Commercial and industrial 28 551 367 946 95,774 96,720 — Construction and development 84 — 4,900 4,984 135,051 140,035 — Multi-family — — — — 107,640 107,640 — Residential mortgage 386 299 1,822 2,507 138,655 141,162 1,709 Home equity — 19 30 49 9,701 9,750 30 Leases 135 63 54 252 129,632 129,884 54 Consumer 119 31 89 239 20,567 20,806 89 Totals $ 752 $ 963 $ 7,262 $ 8,977 $ 919,778 $ 928,755 $ 1,882 December 31, 2021 Delinquent Loans and Leases Current Total Total Loans 30-59 Days 60-89 Days 90 Days and Total Past Commercial mortgage $ 29 $ — $ 128 $ 157 $ 261,045 $ 261,202 $ — Commercial and industrial 33 579 366 978 98,704 99,682 — Construction and development 55 96 4,900 5,051 88,627 93,678 — Multi-family — — — — 107,421 107,421 — Residential mortgage 710 174 1,932 2,816 131,339 134,155 1,813 Home equity 131 — 12 143 7,003 7,146 12 Leases 144 82 — 226 126,536 126,762 — Consumer 59 30 22 111 15,794 15,905 22 Totals $ 1,161 $ 961 $ 7,360 $ 9,482 $ 836,469 $ 845,951 $ 1,847 The following tables present the Company’s impaired loans and specific valuation allowance at September 30, 2022 and December 31, 2021: September 30, 2022 Recorded Unpaid Specific Impaired loans without a specific valuation allowance Commercial and industrial $ 367 $ 567 $ — Residential mortgage 114 242 — $ 481 $ 809 $ — Impaired loans with a specific valuation allowance Commercial and industrial $ 596 $ 643 $ 296 Construction and development 4,900 4,900 750 $ 5,496 $ 5,543 $ 1,046 Total impaired loans Commercial and industrial $ 963 $ 1,210 $ 296 Construction and development 4,900 4,900 750 Residential mortgage 114 242 — Total impaired loans $ 5,977 $ 6,352 $ 1,046 December 31, 2021 Recorded Unpaid Specific Impaired loans without a specific valuation allowance Commercial mortgage $ 128 $ 199 $ — Commercial and industrial 367 566 — Residential mortgage 119 244 — $ 614 $ 1,009 $ — Impaired loans with a specific valuation allowance Commercial and industrial $ 628 $ 658 $ 299 Construction and development 4,900 4,900 750 $ 5,528 $ 5,558 $ 1,049 Total impaired loans Commercial mortgage $ 128 $ 199 $ — Commercial and industrial 995 1,224 299 Construction and development 4,900 4,900 750 Residential mortgage 119 244 — Total impaired loans $ 6,142 $ 6,567 $ 1,049 The following tables present the Company’s average investment in impaired loans and leases, and interest income recognized for the three and nine months ended September 30, 2022 and 2021: Average Interest Three Months Ended September 30, 2022: Total impaired loans Commercial and industrial $ 967 $ 6 Construction and development 4,900 — Residential mortgage 115 1 Total impaired loans and leases $ 5,982 $ 7 Average Interest Nine Months Ended September 30, 2022: Total impaired loans Commercial mortgage $ 61 $ 12 Commercial and industrial 976 18 Construction and development 4,900 — Residential mortgage 117 3 Total impaired loans and leases $ 6,054 $ 33 Average Interest Three Months Ended September 30, 2021: Total impaired loans Commercial mortgage $ 171 $ 13 Commercial and industrial 1,022 13 Construction and development 4,900 — Residential mortgage 190 4 Total impaired loans and leases $ 6,283 $ 30 Average Interest Nine Months Ended September 30, 2021: Total impaired loans Commercial mortgage $ 124 $ 23 Commercial and industrial 1,054 24 Construction and development 3,675 — Residential mortgage 185 7 Total impaired loans and leases $ 5,038 $ 54 The following table presents the Company’s nonaccrual loans and leases at September 30, 2022 and December 31, 2021: September 30, December 31, Commercial mortgage $ — $ 128 Commercial and industrial 962 995 Construction 4,900 4,900 Residential mortgage 114 119 Leases 33 42 Total nonaccrual loans and leases $ 6,009 $ 6,184 During the three and nine months ended September 30, 2022 and 2021, there were no newly classified TDRs. For the three and nine months ended September 30, 2022 and 2021, the Company recorded no charge-offs related to TDRs. As of September 30, 2022 and December 31, 2021, TDRs had a related allowance of $46,000 and $49,000, respectively. During the three and nine months ended September 30, 2022, there were no TDRs for which there was a payment default within the first 12 months of the modification. At September 30, 2022 and December 31, 2021, the balance of real estate owned included $68,000 and $27,000, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At September 30, 2022 and December 31, 2021, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $1.0 million and $885,000, respectively. The following lists the components of the net investment in direct financing leases: September 30, December 31, Total minimum lease payments to be received $ 142,893 $ 140,214 Initial direct costs 7,807 7,035 150,700 147,249 Less: Unearned income (20,816) (20,487) Net investment in direct finance leases $ 129,884 $ 126,762 There were no leases serviced by the Company for the benefit of others at September 30, 2022 and December 31, 2021. Certain leases have been sold from time to time by the Company with partial recourse. The Company estimates and records its obligation based upon historical loss percentages. At both September 30, 2022 and December 31, 2021, the Company did not have any recorded recourse obligations on leases sold. The following table summarizes the future minimum lease payments receivable subsequent to September 30, 2022: Remainder of 2022 $ 14,836 2023 49,991 2024 37,928 2025 24,283 2026 12,729 Thereafter 3,126 $ 142,893

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs supported by little or no market activity that are significant to the fair value of the assets or liabilities Recurring Measurements The following tables present the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and December 31, 2021: Fair Value Measurements Using Fair Quoted Prices Significant Significant September 30, 2022 Available-for-sale securities U.S. Treasury securities $ 394 $ — $ 394 $ — SBA Pools 6,451 — 6,451 — Federal agencies 12,517 — 12,517 — State and municipal obligations 129,940 — 129,940 — Mortgage-backed securities - GSE residential 120,512 — 120,512 — Corporate obligations 9,931 — 9,931 — $ 279,745 $ — $ 279,745 $ — Fair Value Measurements Using Fair Quoted Prices Significant Significant December 31, 2021 Available-for-sale securities SBA Pools $ 8,613 $ — $ 8,613 $ — Federal agencies 14,726 — 14,726 — State and municipal obligations 167,452 — 167,452 — Mortgage-backed securities - GSE residential 162,510 — 162,510 — Corporate obligations 4,224 — 4,224 — Equity securities 13 13 — — $ 357,538 $ 13 $ 357,525 $ — Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the nine months ended September 30, 2022. Available-for-Sale Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy, which includes equity securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Level 2 securities include agency securities, obligations of state and political subdivisions, and mortgage-backed securities. Matrix pricing is a mathematical technique widely used in the banking industry to value investment securities without relying exclusively on quoted prices for specific investment securities but rather relying on the investment securities’ relationship to other benchmark quoted investment securities. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Nonrecurring Measurements The following table presents the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and December 31, 2021: Fair Value Measurements Using Fair Quoted Prices Significant Significant September 30, 2022 Impaired loans, collateral dependent $ 300 $ — $ — $ 300 Mortgage-servicing rights 1,739 — — 1,739 December 31, 2021 Impaired loans, collateral dependent $ 4,587 $ — $ — $ 4,587 Mortgage-servicing rights 1,647 — — 1,647 Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Collateral-Dependent Impaired Loans, Net of ALLL The estimated fair value of collateral-dependent impaired loans is based on the appraised fair value of the collateral, less estimated cost to sell. Collateral-dependent impaired loans are classified within Level 3 of the fair value hierarchy. The Company considers the appraisal or evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral-dependent loans are obtained when the loan is determined to be collateral-dependent and subsequently as deemed necessary by management. Appraisals are reviewed for accuracy and consistency by management. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to consider lack of marketability and estimated cost to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts and estimates are developed by management by comparison to historical results. Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for determining the amount of impairment include estimating fair value using the fair value of the collateral for collateral-dependent loans. Mortgage-Servicing Rights Mortgage-servicing rights do not trade in an active, open market with readily observable prices. Accordingly, fair value is estimated using discounted cash flow models having significant inputs of discount rate, prepayment speed and default rate. Due to the nature of the valuation inputs, mortgage-servicing rights are classified within Level 3 of the hierarchy. Mortgage-servicing rights are tested for impairment on a quarterly basis based on an independent valuation. The valuation is reviewed by management for accuracy and for potential impairment. Unobservable (Level 3) Inputs The following tables present the fair value measurement of assets recognized in the accompanying consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and December 31, 2021: Fair Value at September 30, Valuation Unobservable Range Collateral-dependent impaired loans $ 300 Appraisal Marketability discount 0 - 44% Mortgage-servicing rights $ 1,739 Discounted cash flow Discount rate 10% Fair Value at December 31, Valuation Unobservable Range Collateral-dependent impaired loans $ 4,587 Appraisal Marketability discount 0 - 39% Mortgage-servicing rights $ 1,647 Discounted cash flow Discount rate 10% Fair Value of Financial Instruments The following tables present estimated fair values of the Company’s financial instruments at September 30, 2022 and December 31, 2021: Fair Value Measurements Using Carrying Quoted Prices Significant Significant September 30, 2022 Financial assets Cash and cash equivalents $ 19,352 $ 19,352 $ — $ — Available-for-sale securities 279,745 — 279,745 — Held-to-maturity securities 7,360 — 7,110 — Loans held for sale 78 — — 69 Loans and leases receivable, net 915,464 — — 850,950 Federal Reserve and FHLB stock 9,902 — 9,902 — Interest receivable 3,961 — 3,961 — Financial liabilities Deposits 958,640 — 950,221 — FHLB advances 187,000 — 181,294 — Interest payable 676 — 676 — Fair Value Measurements Using Carrying Quoted Prices Significant Significant December 31, 2021 Financial assets Cash and cash equivalents $ 23,038 $ 23,038 $ — $ — Available-for-sale securities 357,538 13 357,525 — Held-to-maturity securities 9,041 — 9,186 — Loans held for sale 558 — — 555 Loans and leases receivable, net 832,846 — — 833,975 Federal Reserve and FHLB stock 9,992 — 9,992 — Interest receivable 4,193 — 4,193 — Financial liabilities Deposits 900,175 — 900,528 — FHLB advances 180,000 — 185,065 — Interest payable 258 — 258 —

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	Earnings per ShareBasic EPS is computed by dividing net income allocated to common stock by the weighted average number of common shares outstanding during the period which excludes the participating securities. Diluted EPS includes the dilutive effect of additional potential common shares from stock compensation awards, but excludes awards considered participating securities. ESOP shares are not considered outstanding for EPS until they are earned. The following table presents the computation of basic and diluted EPS for the periods indicated: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Net income $ 3,158 $ 3,082 Shares outstanding for Basic EPS: Average shares outstanding 11,823,889 12,499,455 Less: average restricted stock award shares not vested 261,291 348,395 Less: average unearned ESOP Shares 924,154 978,260 Shares outstanding for Basic EPS 10,638,444 11,172,800 Additional Dilutive Shares 197,173 300,652 Shares outstanding for Diluted EPS 10,835,617 11,473,452 Basic Earnings Per Share $ 0.30 $ 0.28 Diluted Earnings Per Share $ 0.29 $ 0.27 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Net income $ 9,661 $ 8,426 Shares outstanding for Basic EPS: Average shares outstanding 12,071,247 12,837,793 Less: average restricted stock award shares not vested 318,722 404,509 Less: average unearned ESOP Shares 937,580 991,686 Shares outstanding for Basic EPS 10,814,945 11,441,598 Additional Dilutive Shares 331,684 244,137 Shares outstanding for Diluted EPS 11,146,629 11,685,735 Basic Earnings Per Share $ 0.89 $ 0.74 Diluted Earnings Per Share $ 0.87 $ 0.72

Benefit Plans

Benefit Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans 401(k) The Company has a retirement savings 401(k) plan, in which substantially all employees may participate. The Company matches employees' contributions at the rate of 50 percent for the first six percent of base salary contributed by participants. The Company’s expense for the plan was $62,000, $170,000, $49,000, and $165,000 for the three and nine months ended September 30, 2022 and 2021, respectively. Employee Stock Ownership Plan As part of the reorganization and related stock offering, the Company established an Employee Stock Ownership Plan, or ESOP, covering substantially all employees. The ESOP acquired 1,082,130 shares of Company common stock at an average price of $13.59 per share on the open market with funds provided by a loan from the Company. Dividends on unallocated shares used to repay the loan for the Company are recorded as a reduction of the loan or accrued interest, as applicable. Dividends on allocated shares paid to participants are reported as compensation expense. Unearned ESOP shares which have not yet been allocated to ESOP participants are excluded from the computation of average shares outstanding for earnings per share calculation. Accordingly, $12,376,872 and $12,928,359 of common stock acquired by the ESOP was shown as a reduction of stockholders’ equity at September 30, 2022 and December 31, 2021, respectively. Shares are released to participants proportionately as the loan is repaid. ESOP expense for the three and nine months ended September 30, 2022 and 2021 was $188,000, $622,000, $207,000, and $581,000, respectively. September 30, December 31, Earned ESOP shares 171,356 130,775 Unearned ESOP shares 910,774 951,355 Total ESOP shares 1,082,130 1,082,130 Quoted per share price $ 13.43 $ 16.05 Fair value of earned shares $ 2,301 $ 2,099 Fair value of unearned shares $ 12,232 $ 15,269 Richmond Mutual Bancorporation, Inc. 2020 Equity Incentive Plan On September 15, 2020, the Company's stockholders approved the Richmond Mutual Bancorporation, Inc. 2020 Equity Incentive Plan ("2020 EIP") which provides for the grant to eligible participants of up to (i) 1,352,662 shares of Company common stock to be issued upon the exercise of stock options and stock appreciation rights and (ii) 541,065 shares of Company common stock to participants as restricted stock awards (which may be in the form of shares of common stock or share units giving the participant the right to receive shares of common stock at a specified future date). Restricted Stock Awards . On October 1, 2020, the Company awarded 449,086 shares of common stock under the 2020 EIP with a grant date fair value of $10.53 per share (total fair value of $4.7 million at issuance) to eligible participants. On April 1, 2021, the Company awarded an additional 4,000 shares of common stock under the 2020 EIP with a grant date fair value of $13.86 (total fair value of $55,000 at issuance) to eligible participants. These awards vest in five equal annual installments with the first vesting occurring on June 30, 2021. Forfeited shares may be awarded to other eligible recipients in future grants until the 2020 EIP terminates in September 2030. The following table summarizes the restricted stock awards activity in the 2020 EIP during the nine months ended September 30, 2022. Nine Months Ended September 30, 2022 Number of Restricted Shares Weighted Average Grant Date Fair Value Non-vested, beginning of period 348,395 $ 10.56 Granted — — Vested (87,104) 10.56 Forfeited — — Non-vested, September 30, 2022 261,291 10.56 Total compensation cost recognized in the income statement for restricted stock awards during the three and nine months ended September 30, 2022 was $232,000 and $688,000, respectively, and the related tax benefit recognized was $49,000 and $144,000, respectively. As of September 30, 2022, unrecognized compensation expense related to restricted stock awards was $2.5 million. Stock Option Plan. On October 1, 2020, the Company awarded options to purchase 1,095,657 of common stock under the 2020 EIP with an exercise price of $10.53 per share, the fair value of a share of the Company's common stock on the date of grant, to eligible participants. On April 1, 2021, the Company awarded options to purchase 8,000 shares of common stock under the 2020 EIP with an exercise price of $13.86 per share, the fair value of a share of the Company's common stock on the date of the grant, to eligible participants. These options awarded vest in five equal annual installments with the first vesting occurring on June 30, 2021. Forfeited options may be awarded to other eligible recipients in future grants until the 2020 EIP terminates in September 2030. The following table summarizes the stock option activity in the 2020 EIP during the nine months ended September 30, 2022. Nine Months Ended September 30, 2022 Number of Shares Weighted-Average Exercise Price Balance at beginning of period 1,050,961 $ 10.56 Granted — — Exercised — — Forfeited/expired — — Balance, September 30, 2022 1,050,961 10.56 Exercisable at end of period 413,120 $ 10.56 The fair value of options granted is estimated on the date of the grant using a Black Scholes model with the following assumptions: April 1, 2021 Dividend yields 1.90 % Volatility factors of expected market price of common stock 26.98 % Risk-free interest rates 1.16 % Expected life of options 6.1 years A summary of the status of the Company stock option shares as of September 30, 2022 is presented below. Shares Weighted Average Grant Date Fair Value Non-vested, beginning of year 850,458 $ 2.91 Vested (212,617) 2.91 Granted — — Forfeited — — Non-vested, September 30, 2022 637,841 $ 2.91 Total compensation cost recognized in the income statement for option-based payment arrangements for the three and nine months ended September 30, 2022 was $156,000 and $463,000, respectively, and the related tax benefit recognized was $17,000 and $51,000, respectively. As of September 30, 2022, unrecognized compensation expense related to the stock option awards was $1.7 million.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventSubsequent to September 30, 2022 through November 10, 2022, the Company purchased 7,186 shares of the Company's common stock pursuant to its existing stock repurchase programs, leaving 1,133,388 shares available for future repurchase.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Loans	Loans For all loan classes, the accrual of interest is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. For all loan classes, the entire balance of the loan is considered past due if the minimum payment contractually required to be paid is not received by the contractual due date. For all loan classes, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. The Company charges off residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance, which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value, less costs to sell when the loan is 120 days past due, charge-off of unsecured open-end loans when the loan is 90 days past due, and charge down to the net realizable value when other secured loans are 90 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. For all classes, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status. When cash payments are received on impaired loans in each loan class, the Company records the payment as interest income unless collection of the remaining recorded principal amount is doubtful, at which time payments are used to reduce the principal balance of the loan. Troubled debt restructured loans recognize interest income on an accrual basis at the renegotiated rate if the loan is in compliance with the modified terms, no principal reduction has been granted and the loan has demonstrated the ability to perform in accordance with the renegotiated terms for a period of at least six months.
Accounting Pronouncements	Accounting Pronouncements In March 2020, the novel coronavirus disease of 2019 ("COVID-19") was identified as a global pandemic and began affecting the health of large populations around the world. As a result of the spread of COVID-19, economic uncertainties arose which can ultimately affect the financial position, results of operations and cash flows of the Company, as well as the Company's customers. In response to economic concerns over COVID-19, in March 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was passed into law by the U.S. Congress. The CARES Act included relief for individual Americans, health care workers, small businesses and certain industries hit hard by the COVID-19 pandemic. The 2021 Consolidated Appropriations Act , passed by Congress in December 2020, extended certain provisions of the CARES Act affecting the Company into 2022. The CARES Act included several provisions designed to help financial institutions like the Company in working with their customers. Section 4013 of the CARES Act, as extended, allows a financial institution to elect to suspend generally accepted accounting principles and regulatory determinations with respect to qualifying loan modifications related to COVID-19 that would otherwise be categorized as a troubled debt restructuring ("TDR") until January 1, 2022. The Company has taken advantage of this provision to extend certain payment modifications to loan customers in need. As of September 30, 2022 the Company had no loans outstanding that were modified under the CARES Act guidance. The CARES Act also approved the Paycheck Protection Program ("PPP"), administered by the Small Business Administration ("SBA") with funding provided by financial institutions. The 2021 Consolidated Appropriations Act approved a new round of PPP loans in 2021. The PPP provides loans to eligible businesses through financial institutions like First Bank Richmond, with loans being eligible for forgiveness of some or all of the principal amount by the SBA if the borrower meets certain requirements. The SBA guarantees repayment of the loans if the borrower's loan is not forgiven and is then not repaid by the member. The Company earns a 1% interest rate on PPP loans, plus a processing fee from the SBA for processing and originating a loan. The Company originated $38.2 million in PPP loans during 2021, of which $1.2 million were outstanding at September 30, 2022. The Jumpstart Our Business Startups Act (the "JOBS Act"), enacted in April 2012, has made numerous changes to the federal securities laws to facilitate access to capital markets. Under the JOBS Act, a company with total annual gross revenues of less than $1.07 billion during its most recently completed fiscal year qualifies as an “emerging growth company.” The Company qualifies as and has elected to be an emerging growth company under the JOBS Act. An emerging growth company may elect to comply with new or amended accounting pronouncements in the same manner as a private company, but must make such election when the company is first required to file a registration statement. Such an election is irrevocable during the period a company is an emerging growth company. The Company has elected to comply with new or amended accounting pronouncements in the same manner as a private company. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments-Credit Losses (Topic 326). The ASU is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief”. This ASU provides transition relief for entities adopting the FASB’s credit losses standard, ASU 2016-13 and allows companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option for certain financial instruments. In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments”. ASU No. 2019-04 clarifies certain aspects of accounting for credit losses, hedging activities, and financial instruments. In October 2019, the FASB voted to extend the implementation of ASU No. 2016-13 for certain financial institutions including smaller reporting companies. As a result, ASU 2016-13 will be effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company is evaluating its current expected credit loss ("CECL") methodology on the loan and investment portfolios to identify the necessary modifications in accordance with ASU 2016-13. A CECL implementation team consisting of management from multiple areas of the Company have been involved in evaluating loss estimation methods and application of these methods to the specific segments and subsegments of the loan portfolio. Management has been actively monitoring FASB developments and evaluating the use of the different methods allowed. Due to continuing development of our methodology, additional time is required to quantify the effect of CECL on the Company's Consolidated Financial Statements. The Company continues to refine its modeling and will finalize a method or methods of adoption in time for the effective date. In March 2022 the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminates the accounting guidance for troubled debt restructured loans (“TDRs”) by creditors while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the ASU requires public business entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases. This ASU will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, upon the Company’s adoption of the amendments in ASU 2016-13, which is commonly referred to as the current expected credit loss methodology. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU applies to contracts, hedging relationships and other transactions that reference LIBOR or other rate references expected to be discontinued because of reference rate reform. The ASU permits an entity to make necessary modifications to eligible contracts or transactions without requiring contract remeasurement or reassessment of a previous accounting determination. This ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company does not expect the adoption of ASU No. 2020-04 to have a material impact on its consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-08, “Receivables – Nonrefundable Fees and Other Costs”. ASU No. 2020-08 clarifies that the Company should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. ASU No. 2020-08 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The adoption of ASU No. 2020-08 did not have a material impact on the Company's consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . ASU No. 2019-12 provides that state franchise or similar taxes that are based, at least in part on an entity’s income, be included in an entity’s income tax recognized as income-based taxes. The ASU further clarifies that the effect of any change in tax laws or rates used in the computation of the annual effective tax rate are required to be reflected in the first interim period that includes the enactment date of the legislation. Technical changes to eliminate exceptions to Topic 740 related to intra-period tax allocations for entities with losses from continuing operations, deferred tax liabilities related to change in ownership of foreign entities, and interim-period tax allocations for businesses with losses where the losses are expected to be realized. The amendments in ASU No. 2019-12 are effective for public business entities with fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted ASU No. 2019-12 on January 1, 2021. The adoption of ASU No. 2019-12 did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . This ASU contains some technical adjustments related to the fair value disclosure requirements of public companies. Included in this ASU is the additional disclosure requirement of unrealized In February 2016, the FASB issued ASU No. 2016-02, Leases
Federal Agencies	Federal Agency Obligations. The unrealized losses on the Company’s investments in direct obligations of U.S. federal agencies were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2022.
Mortgage-Backed Securities - GSE Residential and SBA Pools	.  The unrealized losses on the Company’s investment in mortgage-backed securities and SBA pools were caused by interest rate changes and illiquidity.  The Company expects to recover the amortized cost basis over the term of the securities.  Because the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2022.
State and Municipal Obligations	State, Municipal, and Corporate Obligations. The unrealized losses on the Company’s investments in securities of state and municipal obligations were caused by interest rate changes and illiquidity. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company
Credit Quality Indicators and Characteristics	The Company rates all loans and leases by credit quality using the following designations: Grade 1 – Exceptional Exceptional loans and leases are top-quality loans to individuals whose financial credentials are well known to the Company. These loans and leases have excellent sources of repayment, are well documented and/or virtually free of risk (i.e., CD secured loans). Grade 2 – Quality Loans and Leases These loans and leases have excellent sources of repayment with no identifiable risk of collection, and they conform in all respects to Company policy and Indiana Department of Financial Institutions (“IDFI”) and Federal Deposit Insurance Corporation (“FDIC”) regulations. Documentation exceptions are minimal or are in the process of being corrected and are not of a type that could subsequently expose the Company to risk of loss. Grade 3 – Acceptable Loans This category is for “average” quality loans and leases. These loans and leases have adequate sources of repayment with little identifiable risk of collection and they conform to Company policy and IDFI/FDIC regulations. Grade 4 – Acceptable but Monitored Loans and leases in this category may have a greater than average risk due to financial weakness or uncertainty but do not appear to require classification as special mention or substandard loans. Loans and leases rated “4” need to be monitored on a regular basis to ascertain that the reasons for placing them in this category do not advance or worsen. Grade 5 – Special Mention Loans and leases in this category have 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 lease or in the Company’s credit position at some future date. Special Mention loans and leases are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. This special mention rating is designed to identify a specific level of risk and concern about an asset’s quality. Although a special mention loan or leases has a higher probability of default than a pass rated loan or lease, its default is not imminent. Grade 6 – Substandard Loans and leases in this category are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans and leases so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Substandard loans and leases have a high probability of payment default, or they have other well-defined weaknesses. Such loans and leases have a distinct potential for loss; however, an individual loan’s or lease’s potential for loss does not have to be distinct for the loan or lease to be rated substandard. The following are examples of situations that might cause a loan or lease to be graded a “6”: • Cash flow deficiencies (losses) jeopardize future loan or lease payments. • Sale of non-collateral assets has become a primary source of loan or lease repayment. • The relationship has deteriorated to the point that sale of collateral is now the Company’s primary source of repayment, unless this was the original source of loan or lease repayment. • The borrower is bankrupt or for any other reason future repayment is dependent on court action. Grade 7 – Doubtful A loan or lease classified as doubtful has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly questionable and improbable. A doubtful loan or lease has a high probability of total or substantial loss. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. Because of high probability of loss, nonaccrual accounting treatment will be required for doubtful loans and leases. Grade 8 – Loss Loans and leases classified loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan or lease has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan or lease even though partial recovery may be effected in the future. No material changes have been made to the risk characteristics pertaining to the loan and lease portfolio contained in the Company's 2021 Form 10-K.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs supported by little or no market activity that are significant to the fair value of the assets or liabilities

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: September 30, 2022 Amortized Gross Gross Fair Available for sale U.S. treasury securities $ 396 $ — $ 2 $ 394 SBA Pools 7,073 2 624 6,451 Federal agencies 15,000 — 2,483 12,517 State and municipal obligations 171,709 — 41,769 129,940 Mortgage-backed securities - government-sponsored enterprises (GSE) residential 143,954 — 23,442 120,512 Corporate obligations 11,500 — 1,569 9,931 349,632 2 69,889 279,745 Held to maturity State and municipal obligations 7,360 16 266 7,110 7,360 16 266 7,110 Total investment securities $ 356,992 $ 18 $ 70,155 $ 286,855 December 31, 2021 Amortized Gross Gross Fair Available for sale SBA Pools $ 8,691 $ 29 $ 107 $ 8,613 Federal agencies 15,000 — 274 14,726 State and municipal obligations 166,489 2,261 1,298 167,452 Mortgage-backed securities - government-sponsored enterprises (GSE) residential 164,629 712 2,831 162,510 Corporate obligations 4,250 2 28 4,224 Equity securities 13 — — 13 359,072 3,004 4,538 357,538 Held to maturity State and municipal obligations 9,041 147 2 9,186 9,041 147 2 9,186 Total investment securities $ 368,113 $ 3,151 $ 4,540 $ 366,724
Schedule of Investments Classified by Contractual Maturity Date	The amortized cost and fair value of securities at September 30, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available for Sale Held to Maturity Amortized Fair Amortized Fair Within one year $ 1,875 $ 1,864 $ 1,779 $ 1,764 One to five years 13,099 12,027 3,776 3,654 Five to ten years 42,462 37,468 915 901 After ten years 148,242 107,874 890 791 205,678 159,233 7,360 7,110 Mortgage-backed securities –GSE residential 143,954 120,512 — — Totals $ 349,632 $ 279,745 $ 7,360 $ 7,110
Schedule of Unrealized Gain (Loss) on Investments	The following tables show the Company’s investments by gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021: Description of September 30, 2022 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale U.S. Treasury Securities $ 394 $ 2 $ — $ — $ 394 $ 2 SBA Pools 2,033 252 3,827 372 5,860 624 Federal agencies 1,712 288 10,805 2,195 12,517 2,483 State and municipal obligations 78,093 17,636 51,283 24,133 129,376 41,769 Mortgage-backed securities - GSE residential 55,301 7,962 65,211 15,480 120,512 23,442 Corporate obligations 8,197 1,303 1,734 266 9,931 1,569 Total available-for-sale 145,730 27,443 132,860 42,446 278,590 69,889 Held-to-maturity State and municipal obligations 6,247 259 412 7 6,659 266 Total temporarily impaired securities $ 151,977 $ 27,702 $ 133,272 $ 42,453 $ 285,249 $ 70,155 Description of December 31, 2021 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale SBA Pools $ 2,838 $ 81 $ 3,214 $ 26 $ 6,052 $ 107 Federal agencies 14,726 274 — — 14,726 274 State and municipal obligations 74,235 1,044 7,809 254 82,044 1,298 Mortgage-backed securities - GSE residential 111,104 2,576 6,523 255 117,627 2,831 Corporate obligations 2,972 28 — — 2,972 28 Total available-for-sale 205,875 4,003 17,546 535 223,421 4,538 Held-to-maturity State and municipal obligations 421 2 — — 421 2 Total temporarily impaired securities $ 206,296 $ 4,005 $ 17,546 $ 535 $ 223,842 $ 4,540

Loans, Leases and Allowance (Ta

Loans, Leases and Allowance (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table shows the composition of the loan and lease portfolio at September 30, 2022 and December 31, 2021: September 30, December 31, Commercial mortgage $ 282,758 $ 261,202 Commercial and industrial 96,720 99,682 Construction and development 140,035 93,678 Multi-family 107,640 107,421 Residential mortgage 141,162 134,155 Home equity 9,750 7,146 Direct financing leases 129,884 126,762 Consumer 20,806 15,905 928,755 845,951 Less Allowance for loan and lease losses 12,556 12,108 Deferred loan fees 735 997 $ 915,464 $ 832,846
Schedule of Financing Receivable, Allowance for Credit Loss	The following tables present the activity in the allowance for loan and lease losses for the three and nine months ended September 30, 2022 and 2021: Balance, beginning of period Provision (credit) for losses Charge-offs Recoveries Balance, end of period Three Months Ended September 30, 2022: Commercial mortgage $ 4,804 $ (36) $ — $ 7 $ 4,775 Commercial and industrial 1,504 (105) — 26 1,425 Construction and development 2,423 565 — — 2,988 Multi-family 2,046 (254) — — 1,792 Residential mortgage 196 5 (17) 6 190 Home equity 34 — — — 34 Leases 1,139 (59) (105) 112 1,087 Consumer 235 84 (60) 6 265 Total $ 12,381 $ 200 $ (182) $ 157 $ 12,556 Nine Months Ended September 30, 2022: Commercial mortgage $ 4,742 $ (15) $ — $ 48 $ 4,775 Commercial and industrial 1,639 (277) — 63 1,425 Construction and development 2,286 702 — — 2,988 Multi-family 1,875 (83) — — 1,792 Residential mortgage 263 (81) (17) 25 190 Home equity 29 5 — — 34 Leases 1,079 182 (304) 130 1,087 Consumer 195 167 (114) 17 265 Total $ 12,108 $ 600 $ (435) $ 283 $ 12,556 Balance, beginning of period Provision (credit) for losses Charge-offs Recoveries Balance, end of period Three Months Ended September 30, 2021: Commercial mortgage $ 4,517 $ 156 $ (25) $ 7 $ 4,655 Commercial and industrial 1,951 (214) — 21 1,758 Construction and development 2,009 88 — — 2,097 Multi-family 1,353 273 — — 1,626 Residential mortgage 368 138 (80) 16 442 Home equity 23 5 — — 28 Leases 1,010 59 (31) 9 1,047 Consumer 200 (5) (8) 9 196 Total $ 11,431 $ 500 $ (144) $ 62 $ 11,849 Nine Months Ended September 30, 2021: Commercial mortgage $ 4,628 $ 33 $ (25) $ 19 $ 4,655 Commercial and industrial 2,271 (580) (3) 70 1,758 Construction and development 1,068 1,029 — — 2,097 Multi-family 1,039 587 — — 1,626 Residential mortgage 323 126 (80) 73 442 Home equity 18 10 — — 28 Leases 1,054 201 (396) 188 1,047 Consumer 185 24 (83) 70 196 Total $ 10,586 $ 1,430 $ (587) $ 420 $ 11,849 The following tables present the balance in the allowance for loan and lease losses and the recorded investment in loans and leases based on portfolio segment and impairment method as of September 30, 2022 and December 31, 2021: Allowance for loan and lease losses: Loans and leases: Individually evaluated for impairment Collectively evaluated for impairment Balance Individually evaluated for impairment Collectively evaluated for impairment Balance As of September 30, 2022: Commercial mortgage $ — $ 4,775 $ 4,775 $ — $ 282,758 $ 282,758 Commercial and industrial 296 1,129 1,425 963 95,757 96,720 Construction and development 750 2,238 2,988 4,900 135,135 140,035 Multi-family — 1,792 1,792 — 107,640 107,640 Residential mortgage — 190 190 114 141,048 141,162 Home equity — 34 34 — 9,750 9,750 Leases — 1,087 1,087 — 129,884 129,884 Consumer — 265 265 — 20,806 20,806 Total $ 1,046 $ 11,510 $ 12,556 $ 5,977 $ 922,778 $ 928,755 Allowance for loan and lease losses: Loans and leases: Individually evaluated for impairment Collectively evaluated for impairment Balance Individually evaluated for impairment Collectively evaluated for impairment Balance As of December 31, 2021: Commercial mortgage $ — $ 4,742 $ 4,742 $ 128 $ 261,074 $ 261,202 Commercial and industrial 299 1,340 1,639 995 98,687 99,682 Construction and development 750 1,536 2,286 4,900 88,778 93,678 Multi-family — 1,875 1,875 — 107,421 107,421 Residential mortgage — 263 263 119 134,036 134,155 Home equity — 29 29 — 7,146 7,146 Leases — 1,079 1,079 — 126,762 126,762 Consumer — 195 195 — 15,905 15,905 Total $ 1,049 $ 11,059 $ 12,108 $ 6,142 $ 839,809 $ 845,951
Schedule of Financing Receivable Credit Quality Indicators	The following tables present the credit risk profile of the Company’s loan and lease portfolio based on rating category and payment activity as of September 30, 2022 and December 31, 2021: Pass Special Mention Substandard Doubtful Loss Total As of September 30, 2022: Commercial mortgage $ 279,529 $ 3,229 $ — $ — $ — $ 282,758 Commercial and industrial 88,283 7,474 963 — — 96,720 Construction and development 135,135 — 4,900 — — 140,035 Multi-family 107,640 — — — — 107,640 Residential mortgage 139,340 — 1,822 — — 141,162 Home equity 9,692 — 58 — — 9,750 Leases 129,553 173 125 33 — 129,884 Consumer 20,717 — 89 — — 20,806 Total $ 909,889 $ 10,876 $ 7,957 $ 33 $ — $ 928,755 Pass Special Mention Substandard Doubtful Loss Total As of December 31, 2021: Commercial mortgage $ 256,043 $ 5,031 $ 128 $ — $ — $ 261,202 Commercial and industrial 91,082 7,191 1,409 — — 99,682 Construction and development 88,778 — 4,900 — — 93,678 Multi-family 107,421 — — — — 107,421 Residential mortgage 132,223 — 1,932 — — 134,155 Home equity 7,097 — 49 — — 7,146 Leases 126,707 — 13 42 — 126,762 Consumer 15,883 — 22 — — 15,905 Total $ 825,234 $ 12,222 $ 8,453 $ 42 $ — $ 845,951
Schedule of Loans Classified by Aging Analysis	The following tables present the Company’s loan and lease portfolio aging analysis of the recorded investment in loans and leases as of September 30, 2022 and December 31, 2021: September 30, 2022 Delinquent Loans and Leases Current Total Total Loans 30-59 Days 60-89 Days 90 Days and Total Past Commercial mortgage $ — $ — $ — $ — $ 282,758 $ 282,758 $ — Commercial and industrial 28 551 367 946 95,774 96,720 — Construction and development 84 — 4,900 4,984 135,051 140,035 — Multi-family — — — — 107,640 107,640 — Residential mortgage 386 299 1,822 2,507 138,655 141,162 1,709 Home equity — 19 30 49 9,701 9,750 30 Leases 135 63 54 252 129,632 129,884 54 Consumer 119 31 89 239 20,567 20,806 89 Totals $ 752 $ 963 $ 7,262 $ 8,977 $ 919,778 $ 928,755 $ 1,882 December 31, 2021 Delinquent Loans and Leases Current Total Total Loans 30-59 Days 60-89 Days 90 Days and Total Past Commercial mortgage $ 29 $ — $ 128 $ 157 $ 261,045 $ 261,202 $ — Commercial and industrial 33 579 366 978 98,704 99,682 — Construction and development 55 96 4,900 5,051 88,627 93,678 — Multi-family — — — — 107,421 107,421 — Residential mortgage 710 174 1,932 2,816 131,339 134,155 1,813 Home equity 131 — 12 143 7,003 7,146 12 Leases 144 82 — 226 126,536 126,762 — Consumer 59 30 22 111 15,794 15,905 22 Totals $ 1,161 $ 961 $ 7,360 $ 9,482 $ 836,469 $ 845,951 $ 1,847
Schedule of Impaired Financing Receivables	The following tables present the Company’s impaired loans and specific valuation allowance at September 30, 2022 and December 31, 2021: September 30, 2022 Recorded Unpaid Specific Impaired loans without a specific valuation allowance Commercial and industrial $ 367 $ 567 $ — Residential mortgage 114 242 — $ 481 $ 809 $ — Impaired loans with a specific valuation allowance Commercial and industrial $ 596 $ 643 $ 296 Construction and development 4,900 4,900 750 $ 5,496 $ 5,543 $ 1,046 Total impaired loans Commercial and industrial $ 963 $ 1,210 $ 296 Construction and development 4,900 4,900 750 Residential mortgage 114 242 — Total impaired loans $ 5,977 $ 6,352 $ 1,046 December 31, 2021 Recorded Unpaid Specific Impaired loans without a specific valuation allowance Commercial mortgage $ 128 $ 199 $ — Commercial and industrial 367 566 — Residential mortgage 119 244 — $ 614 $ 1,009 $ — Impaired loans with a specific valuation allowance Commercial and industrial $ 628 $ 658 $ 299 Construction and development 4,900 4,900 750 $ 5,528 $ 5,558 $ 1,049 Total impaired loans Commercial mortgage $ 128 $ 199 $ — Commercial and industrial 995 1,224 299 Construction and development 4,900 4,900 750 Residential mortgage 119 244 — Total impaired loans $ 6,142 $ 6,567 $ 1,049 The following tables present the Company’s average investment in impaired loans and leases, and interest income recognized for the three and nine months ended September 30, 2022 and 2021: Average Interest Three Months Ended September 30, 2022: Total impaired loans Commercial and industrial $ 967 $ 6 Construction and development 4,900 — Residential mortgage 115 1 Total impaired loans and leases $ 5,982 $ 7 Average Interest Nine Months Ended September 30, 2022: Total impaired loans Commercial mortgage $ 61 $ 12 Commercial and industrial 976 18 Construction and development 4,900 — Residential mortgage 117 3 Total impaired loans and leases $ 6,054 $ 33 Average Interest Three Months Ended September 30, 2021: Total impaired loans Commercial mortgage $ 171 $ 13 Commercial and industrial 1,022 13 Construction and development 4,900 — Residential mortgage 190 4 Total impaired loans and leases $ 6,283 $ 30 Average Interest Nine Months Ended September 30, 2021: Total impaired loans Commercial mortgage $ 124 $ 23 Commercial and industrial 1,054 24 Construction and development 3,675 — Residential mortgage 185 7 Total impaired loans and leases $ 5,038 $ 54
Schedule of Financing Receivable, Nonaccrual	The following table presents the Company’s nonaccrual loans and leases at September 30, 2022 and December 31, 2021: September 30, December 31, Commercial mortgage $ — $ 128 Commercial and industrial 962 995 Construction 4,900 4,900 Residential mortgage 114 119 Leases 33 42 Total nonaccrual loans and leases $ 6,009 $ 6,184
Schedule of Direct Financing Lease, Lease Income	The following lists the components of the net investment in direct financing leases: September 30, December 31, Total minimum lease payments to be received $ 142,893 $ 140,214 Initial direct costs 7,807 7,035 150,700 147,249 Less: Unearned income (20,816) (20,487) Net investment in direct finance leases $ 129,884 $ 126,762
Schedule of Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity	The following table summarizes the future minimum lease payments receivable subsequent to September 30, 2022: Remainder of 2022 $ 14,836 2023 49,991 2024 37,928 2025 24,283 2026 12,729 Thereafter 3,126 $ 142,893

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets Measured on Recurring Basis	The following tables present the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and December 31, 2021: Fair Value Measurements Using Fair Quoted Prices Significant Significant September 30, 2022 Available-for-sale securities U.S. Treasury securities $ 394 $ — $ 394 $ — SBA Pools 6,451 — 6,451 — Federal agencies 12,517 — 12,517 — State and municipal obligations 129,940 — 129,940 — Mortgage-backed securities - GSE residential 120,512 — 120,512 — Corporate obligations 9,931 — 9,931 — $ 279,745 $ — $ 279,745 $ — Fair Value Measurements Using Fair Quoted Prices Significant Significant December 31, 2021 Available-for-sale securities SBA Pools $ 8,613 $ — $ 8,613 $ — Federal agencies 14,726 — 14,726 — State and municipal obligations 167,452 — 167,452 — Mortgage-backed securities - GSE residential 162,510 — 162,510 — Corporate obligations 4,224 — 4,224 — Equity securities 13 13 — — $ 357,538 $ 13 $ 357,525 $ —
Schedule of Fair Value Measurements, Nonrecurring	The following table presents the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and December 31, 2021: Fair Value Measurements Using Fair Quoted Prices Significant Significant September 30, 2022 Impaired loans, collateral dependent $ 300 $ — $ — $ 300 Mortgage-servicing rights 1,739 — — 1,739 December 31, 2021 Impaired loans, collateral dependent $ 4,587 $ — $ — $ 4,587 Mortgage-servicing rights 1,647 — — 1,647
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables present the fair value measurement of assets recognized in the accompanying consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and December 31, 2021: Fair Value at September 30, Valuation Unobservable Range Collateral-dependent impaired loans $ 300 Appraisal Marketability discount 0 - 44% Mortgage-servicing rights $ 1,739 Discounted cash flow Discount rate 10% Fair Value at December 31, Valuation Unobservable Range Collateral-dependent impaired loans $ 4,587 Appraisal Marketability discount 0 - 39% Mortgage-servicing rights $ 1,647 Discounted cash flow Discount rate 10%
Schedule of Fair Value of Financial Instruments	The following tables present estimated fair values of the Company’s financial instruments at September 30, 2022 and December 31, 2021: Fair Value Measurements Using Carrying Quoted Prices Significant Significant September 30, 2022 Financial assets Cash and cash equivalents $ 19,352 $ 19,352 $ — $ — Available-for-sale securities 279,745 — 279,745 — Held-to-maturity securities 7,360 — 7,110 — Loans held for sale 78 — — 69 Loans and leases receivable, net 915,464 — — 850,950 Federal Reserve and FHLB stock 9,902 — 9,902 — Interest receivable 3,961 — 3,961 — Financial liabilities Deposits 958,640 — 950,221 — FHLB advances 187,000 — 181,294 — Interest payable 676 — 676 — Fair Value Measurements Using Carrying Quoted Prices Significant Significant December 31, 2021 Financial assets Cash and cash equivalents $ 23,038 $ 23,038 $ — $ — Available-for-sale securities 357,538 13 357,525 — Held-to-maturity securities 9,041 — 9,186 — Loans held for sale 558 — — 555 Loans and leases receivable, net 832,846 — — 833,975 Federal Reserve and FHLB stock 9,992 — 9,992 — Interest receivable 4,193 — 4,193 — Financial liabilities Deposits 900,175 — 900,528 — FHLB advances 180,000 — 185,065 — Interest payable 258 — 258 —

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the computation of basic and diluted EPS for the periods indicated: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Net income $ 3,158 $ 3,082 Shares outstanding for Basic EPS: Average shares outstanding 11,823,889 12,499,455 Less: average restricted stock award shares not vested 261,291 348,395 Less: average unearned ESOP Shares 924,154 978,260 Shares outstanding for Basic EPS 10,638,444 11,172,800 Additional Dilutive Shares 197,173 300,652 Shares outstanding for Diluted EPS 10,835,617 11,473,452 Basic Earnings Per Share $ 0.30 $ 0.28 Diluted Earnings Per Share $ 0.29 $ 0.27 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Net income $ 9,661 $ 8,426 Shares outstanding for Basic EPS: Average shares outstanding 12,071,247 12,837,793 Less: average restricted stock award shares not vested 318,722 404,509 Less: average unearned ESOP Shares 937,580 991,686 Shares outstanding for Basic EPS 10,814,945 11,441,598 Additional Dilutive Shares 331,684 244,137 Shares outstanding for Diluted EPS 11,146,629 11,685,735 Basic Earnings Per Share $ 0.89 $ 0.74 Diluted Earnings Per Share $ 0.87 $ 0.72

Benefit Plans (Tables)

Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Stock Ownership Plan (ESOP) Disclosures	ESOP expense for the three and nine months ended September 30, 2022 and 2021 was $188,000, $622,000, $207,000, and $581,000, respectively. September 30, December 31, Earned ESOP shares 171,356 130,775 Unearned ESOP shares 910,774 951,355 Total ESOP shares 1,082,130 1,082,130 Quoted per share price $ 13.43 $ 16.05 Fair value of earned shares $ 2,301 $ 2,099 Fair value of unearned shares $ 12,232 $ 15,269
Schedule of Restricted Stock Awards	The following table summarizes the restricted stock awards activity in the 2020 EIP during the nine months ended September 30, 2022. Nine Months Ended September 30, 2022 Number of Restricted Shares Weighted Average Grant Date Fair Value Non-vested, beginning of period 348,395 $ 10.56 Granted — — Vested (87,104) 10.56 Forfeited — — Non-vested, September 30, 2022 261,291 10.56
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following table summarizes the stock option activity in the 2020 EIP during the nine months ended September 30, 2022. Nine Months Ended September 30, 2022 Number of Shares Weighted-Average Exercise Price Balance at beginning of period 1,050,961 $ 10.56 Granted — — Exercised — — Forfeited/expired — — Balance, September 30, 2022 1,050,961 10.56 Exercisable at end of period 413,120 $ 10.56
Fair Value Measurement Inputs and Valuation Techniques	The fair value of options granted is estimated on the date of the grant using a Black Scholes model with the following assumptions: April 1, 2021 Dividend yields 1.90 % Volatility factors of expected market price of common stock 26.98 % Risk-free interest rates 1.16 % Expected life of options 6.1 years
Schedule of Nonvested Share Activity	A summary of the status of the Company stock option shares as of September 30, 2022 is presented below. Shares Weighted Average Grant Date Fair Value Non-vested, beginning of year 850,458 $ 2.91 Vested (212,617) 2.91 Granted — — Forfeited — — Non-vested, September 30, 2022 637,841 $ 2.91

Basis of Presentation (Details)

Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Past due interest accrual period (in days)	90 days
Minimum satisfaction performance period of nonaccrual loans (in months)	6 months

Accounting Pronouncements (Deta

Accounting Pronouncements (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 contract	Sep. 30, 2022 USD ($) loan contract	Sep. 30, 2021 contract	Dec. 31, 2021 USD ($)
Financing Receivable, Impaired [Line Items]
Number of loan and leases modified | contract	0	0	0	0
PPP Loans Outstanding	$ 915,464,191		$ 915,464,191		$ 832,846,017
Paycheck Protection Program
Financing Receivable, Impaired [Line Items]
PPP Loans issued			38,200,000
PPP Loans Outstanding	$ 1,200,000		$ 1,200,000
CARES Act
Financing Receivable, Impaired [Line Items]
Number of loan and leases modified | loan			0

Investment Securities_ Marketab

Investment Securities: Marketable Securities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Available for sale
Investment securities - available for sale	$ 279,744,683	$ 357,537,845
Equity securities, available-for-sale, amortized cost		13,000
Equity securities, available-for-sale, gross unrealized gain		0
Equity securities, available-for-sale, gross unrealized loss		0
Equity securities, available-for-sale, fair value		13,000
Equity securities
Debt securities, available-for-sale, and equity securities, amortized cost	349,632,000	359,072,000
Debt securities, available-for-sale, and equity securities, gross unrealized gains	2,000	3,004,000
Debt securities, available-for-sale, and equity securities, gross unrealized losses	69,889,000	4,538,000
Debt securities, available-for-sale, and equity securities, fair value	279,745,000	357,538,000
Held to maturity
Investment securities - held to maturity	7,359,705	9,040,825
Debt securities, held-to-maturity, accumulated unrecognized gain	16,000	147,000
Debt securities, held-to-maturity, accumulated unrecognized losses	266,000	2,000
Debt securities, held-to-maturity, fair value	7,110,000	9,186,000
Debt securities, available-for-sale and held-to-maturity, and equity securities, amortized cost	356,992,000	368,113,000
Debt securities, available-for-sale and held-to-maturity, and equity securities, gross unrealized gains	18,000	3,151,000
Debt securities, available-for-sale and held-to-maturity, and equity securities, gross unrealized losses	70,155,000	4,540,000
Debt securities, available-for-sale and held-to-maturity, and equity securities, fair value	286,855,000	366,724,000
U.S. Treasury securities
Available for sale
Available for sale, Amortized Cost	396,000
Debt securities, available for sale, gross unrealized gain	0
Debt securities, available for sale, gross unrealized loss	2,000
Investment securities - available for sale	394,000
SBA Pools
Available for sale
Available for sale, Amortized Cost	7,073,000	8,691,000
Debt securities, available for sale, gross unrealized gain	2,000	29,000
Debt securities, available for sale, gross unrealized loss	624,000	107,000
Investment securities - available for sale	6,451,000	8,613,000
Federal agencies
Available for sale
Available for sale, Amortized Cost	15,000,000	15,000,000
Debt securities, available for sale, gross unrealized gain	0	0
Debt securities, available for sale, gross unrealized loss	2,483,000	274,000
Investment securities - available for sale	12,517,000	14,726,000
State and municipal obligations
Available for sale
Available for sale, Amortized Cost	171,709,000	166,489,000
Debt securities, available for sale, gross unrealized gain	0	2,261,000
Debt securities, available for sale, gross unrealized loss	41,769,000	1,298,000
Investment securities - available for sale	129,940,000	167,452,000
Held to maturity
Investment securities - held to maturity	7,360,000	9,041,000
Debt securities, held-to-maturity, accumulated unrecognized gain	16,000	147,000
Debt securities, held-to-maturity, accumulated unrecognized losses	266,000	2,000
Debt securities, held-to-maturity, fair value	7,110,000	9,186,000
Mortgage-backed securities - government-sponsored enterprises (GSE) residential
Available for sale
Available for sale, Amortized Cost	143,954,000	164,629,000
Debt securities, available for sale, gross unrealized gain	0	712,000
Debt securities, available for sale, gross unrealized loss	23,442,000	2,831,000
Investment securities - available for sale	120,512,000	162,510,000
Corporate obligations
Available for sale
Available for sale, Amortized Cost	11,500,000	4,250,000
Debt securities, available for sale, gross unrealized gain	0	2,000
Debt securities, available for sale, gross unrealized loss	1,569,000	28,000
Investment securities - available for sale	$ 9,931,000	$ 4,224,000

Investment Securities_ Investme

Investment Securities: Investments Classified by Contractual Maturity Date (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Amortized Cost
Debt securities, available-for-sale, amortized cost, within one year	$ 1,875,000
Debt securities, available-for-sale, amortized cost, one to five years	13,099,000
Debt securities, available-for-sale, amortized cost, five to ten years	42,462,000
Debt securities, available-for-sale, amortized cost, after ten years	148,242,000
Debt securities, available for sale, amortized cost	205,678,000
Debt securities, available for sale, amortized cost, mortgage backed securities -GSE residential	143,954,000
Fair Value
Debt securities, available-for-sale, fair value, within one year	1,864,000
Debt securities, available-for-sale, fair value, one to five years	12,027,000
Debt securities, available-for-sale, fair value, five to ten years	37,468,000
Debt securities, available-for-sale, fair value, after ten years	107,874,000
Debt securities, available for sale, fair value	159,233,000
Debt securities, available for sale, fair value, mortgage backed securities -GSE residential	120,512,000
Amortized Cost
Held-to-Maturity, amortized cost, within one year	1,779,000
Held-to-Maturity, amortized cost, one to five years	3,776,000
Held-to-Maturity, amortized cost, five to ten years	915,000
Held-to-Maturity, amortized cost, after ten years	890,000
Held-to-maturity, amortized cost	7,360,000
Held-to-Maturity, amortized cost, mortgage backed securities -GSE residential	0
Fair Value
Held-to-Maturity, fair value, within one year	1,764,000
Held-to-Maturity, fair value, one to five years	3,654,000
Held-to-Maturity, fair value, five to ten years	901,000
Held-to-Maturity, fair value, after ten years	791,000
Held-to-Maturity, fair value	7,110,000
Held-to-Maturity, fair value, mortgage backed securities -GSE residential	0
Debt securities, available-for-sale, and equity securities, amortized cost	349,632,000	$ 359,072,000
Debt securities, available-for-sale, and equity securities, fair value	279,745,000	357,538,000
Investment securities - held to maturity	7,359,705	9,040,825
Debt securities, held-to-maturity, fair value	$ 7,110,000	$ 9,186,000

Investment Securities_ Market_2

Investment Securities: Marketable Securities (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities pledged as security, carrying value	$ 168,356,000		$ 168,356,000		$ 136,463,000
Proceeds from sales of securities available for sale	0	$ 1,316,000	0	$ 5,296,929
Available-for-sale securities, gross realized gains		18,000		56,000
Available-for-sale securities, gross realized losses		$ 0		$ 0
Investments reported at less than historical cost, fair value	$ 285,249,000		$ 285,249,000		$ 223,842,000
Investments reported at less than historical cost as percentage of total securities			99%		61%

Investment Securities_ Unrealiz

Investment Securities: Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	$ 145,730	$ 205,875
Available-for-sale, less than 12 months, unrealized loss	27,443	4,003
Available-for-sale, 12 months or more, fair value	132,860	17,546
Available-for-sale, 12 months or more, unrealized losses	42,446	535
Available-for-sale, total unrealized losses	278,590	223,421
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	69,889	4,538
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss [Abstract]
Temporarily impaired securities, less than 12 months, fair value	151,977	206,296
Temporarily impaired securities, less than 12 months, unrealized loss	27,702	4,005
Temporarily impaired securities, 12 months or more, fair value	133,272	17,546
Temporarily impaired securities, 12 months or more, unrealized losses	42,453	535
Temporarily impaired securities, total fair value	285,249	223,842
Temporarily impaired securities, total unrealized losses	70,155	4,540
U.S. Treasury securities
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	394
Available-for-sale, less than 12 months, unrealized loss	2
Available-for-sale, 12 months or more, fair value	0
Available-for-sale, 12 months or more, unrealized losses	0
Available-for-sale, total unrealized losses	394
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	2
SBA Pools
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	2,033	2,838
Available-for-sale, less than 12 months, unrealized loss	252	81
Available-for-sale, 12 months or more, fair value	3,827	3,214
Available-for-sale, 12 months or more, unrealized losses	372	26
Available-for-sale, total unrealized losses	5,860	6,052
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	624	107
Federal agencies
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	1,712	14,726
Available-for-sale, less than 12 months, unrealized loss	288	274
Available-for-sale, 12 months or more, fair value	10,805	0
Available-for-sale, 12 months or more, unrealized losses	2,195	0
Available-for-sale, total unrealized losses	12,517	14,726
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	2,483	274
State and municipal obligations
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	78,093	74,235
Available-for-sale, less than 12 months, unrealized loss	17,636	1,044
Available-for-sale, 12 months or more, fair value	51,283	7,809
Available-for-sale, 12 months or more, unrealized losses	24,133	254
Available-for-sale, total unrealized losses	129,376	82,044
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	41,769	1,298
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss [Abstract]
Held-to-maturity, less than 12 months, fair value	6,247	421
Held-to-maturity, less than 12 months, unrealized losses	259	2
Held-to-maturity, 12 months or more, fair value	412	0
Held-to-maturity, 12 months or more, unrealized losses	7	0
Held-to-maturity, total fair value	6,659	421
Held-to-maturity, total unrealized losses	266	2
Mortgage-backed securities - government-sponsored enterprises (GSE) residential
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	55,301	111,104
Available-for-sale, less than 12 months, unrealized loss	7,962	2,576
Available-for-sale, 12 months or more, fair value	65,211	6,523
Available-for-sale, 12 months or more, unrealized losses	15,480	255
Available-for-sale, total unrealized losses	120,512	117,627
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	23,442	2,831
Corporate obligations
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale, less than 12 months, fair value	8,197	2,972
Available-for-sale, less than 12 months, unrealized loss	1,303	28
Available-for-sale, 12 months or more, fair value	1,734	0
Available-for-sale, 12 months or more, unrealized losses	266	0
Available-for-sale, total unrealized losses	9,931	2,972
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 1,569	$ 28

Loans, Leases and Allowance_ Sc

Loans, Leases and Allowance: Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	$ 928,755,000		$ 845,951,000
Allowance for loan and lease losses	12,556,000	$ 12,381,000	12,108,000	$ 11,849,000	$ 11,431,000	$ 10,586,000
Deferred loan fees	735,000		997,000
Outstanding balance	915,464,191		832,846,017
Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	282,758,000		261,202,000
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	96,720,000		99,682,000
Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	140,035,000		93,678,000
Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	107,640,000		107,421,000
Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	141,162,000		134,155,000
Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	9,750,000		7,146,000
Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	129,884,000		126,762,000
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	$ 20,806,000		$ 15,905,000

Loans, Leases and Allowance_ Fi

Loans, Leases and Allowance: Financing Receivable, Allowance for Credit Loss (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Allowance for loan losses:
Allowance for loan losses, beginning balance	$ 12,381,000	$ 11,431,000	$ 12,108,000	$ 10,586,000
Provision (credit) for losses	200,000	500,000	600,000	1,430,000
Charge-offs	(182,000)	(144,000)	(435,000)	(587,000)
Recoveries	157,000	62,000	283,000	420,000
Allowance for loan losses, ending balance	12,556,000	11,849,000	12,556,000	11,849,000
Allowance for loan losses, individually evaluated for impairment	1,046,000		1,046,000		$ 1,049,000
Allowance for loan losses, collectively evaluated for impairment	11,510,000		11,510,000		11,059,000
Allowance for loan losses, balance	12,556,000	11,849,000	12,556,000	11,849,000	12,108,000
Loans, individually evaluated for impairment	5,977,000		5,977,000		6,142,000
Loans, collectively evaluated for impairment	922,778,000		922,778,000		839,809,000
Total Portfolio Loans and Leases	928,755,000		928,755,000		845,951,000
Commercial mortgage
Allowance for loan losses:
Allowance for loan losses, beginning balance	4,804,000	4,517,000	4,742,000	4,628,000
Provision (credit) for losses	(36,000)	156,000	(15,000)	33,000
Charge-offs	0	(25,000)	0	(25,000)
Recoveries	7,000	7,000	48,000	19,000
Allowance for loan losses, ending balance	4,775,000	4,655,000	4,775,000	4,655,000
Allowance for loan losses, individually evaluated for impairment	0		0		0
Allowance for loan losses, collectively evaluated for impairment	4,775,000		4,775,000		4,742,000
Allowance for loan losses, balance	4,775,000	4,655,000	4,775,000	4,655,000	4,742,000
Loans, individually evaluated for impairment	0		0		128,000
Loans, collectively evaluated for impairment	282,758,000		282,758,000		261,074,000
Total Portfolio Loans and Leases	282,758,000		282,758,000		261,202,000
Commercial and industrial
Allowance for loan losses:
Allowance for loan losses, beginning balance	1,504,000	1,951,000	1,639,000	2,271,000
Provision (credit) for losses	(105,000)	(214,000)	(277,000)	(580,000)
Charge-offs	0	0	0	(3,000)
Recoveries	26,000	21,000	63,000	70,000
Allowance for loan losses, ending balance	1,425,000	1,758,000	1,425,000	1,758,000
Allowance for loan losses, individually evaluated for impairment	296,000		296,000		299,000
Allowance for loan losses, collectively evaluated for impairment	1,129,000		1,129,000		1,340,000
Allowance for loan losses, balance	1,425,000	1,758,000	1,425,000	1,758,000	1,639,000
Loans, individually evaluated for impairment	963,000		963,000		995,000
Loans, collectively evaluated for impairment	95,757,000		95,757,000		98,687,000
Total Portfolio Loans and Leases	96,720,000		96,720,000		99,682,000
Construction and development
Allowance for loan losses:
Allowance for loan losses, beginning balance	2,423,000	2,009,000	2,286,000	1,068,000
Provision (credit) for losses	565,000	88,000	702,000	1,029,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Allowance for loan losses, ending balance	2,988,000	2,097,000	2,988,000	2,097,000
Allowance for loan losses, individually evaluated for impairment	750,000		750,000		750,000
Allowance for loan losses, collectively evaluated for impairment	2,238,000		2,238,000		1,536,000
Allowance for loan losses, balance	2,988,000	2,097,000	2,988,000	2,097,000	2,286,000
Loans, individually evaluated for impairment	4,900,000		4,900,000		4,900,000
Loans, collectively evaluated for impairment	135,135,000		135,135,000		88,778,000
Total Portfolio Loans and Leases	140,035,000		140,035,000		93,678,000
Multi-family
Allowance for loan losses:
Allowance for loan losses, beginning balance	2,046,000	1,353,000	1,875,000	1,039,000
Provision (credit) for losses	(254,000)	273,000	(83,000)	587,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Allowance for loan losses, ending balance	1,792,000	1,626,000	1,792,000	1,626,000
Allowance for loan losses, individually evaluated for impairment	0		0		0
Allowance for loan losses, collectively evaluated for impairment	1,792,000		1,792,000		1,875,000
Allowance for loan losses, balance	1,792,000	1,626,000	1,792,000	1,626,000	1,875,000
Loans, individually evaluated for impairment	0		0		0
Loans, collectively evaluated for impairment	107,640,000		107,640,000		107,421,000
Total Portfolio Loans and Leases	107,640,000		107,640,000		107,421,000
Residential mortgage
Allowance for loan losses:
Allowance for loan losses, beginning balance	196,000	368,000	263,000	323,000
Provision (credit) for losses	5,000	138,000	(81,000)	126,000
Charge-offs	(17,000)	(80,000)	(17,000)	(80,000)
Recoveries	6,000	16,000	25,000	73,000
Allowance for loan losses, ending balance	190,000	442,000	190,000	442,000
Allowance for loan losses, individually evaluated for impairment	0		0		0
Allowance for loan losses, collectively evaluated for impairment	190,000		190,000		263,000
Allowance for loan losses, balance	190,000	442,000	190,000	442,000	263,000
Loans, individually evaluated for impairment	114,000		114,000		119,000
Loans, collectively evaluated for impairment	141,048,000		141,048,000		134,036,000
Total Portfolio Loans and Leases	141,162,000		141,162,000		134,155,000
Home equity
Allowance for loan losses:
Allowance for loan losses, beginning balance	34,000	23,000	29,000	18,000
Provision (credit) for losses	0	5,000	5,000	10,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Allowance for loan losses, ending balance	34,000	28,000	34,000	28,000
Allowance for loan losses, individually evaluated for impairment	0		0		0
Allowance for loan losses, collectively evaluated for impairment	34,000		34,000		29,000
Allowance for loan losses, balance	34,000	28,000	34,000	28,000	29,000
Loans, individually evaluated for impairment	0		0		0
Loans, collectively evaluated for impairment	9,750,000		9,750,000		7,146,000
Total Portfolio Loans and Leases	9,750,000		9,750,000		7,146,000
Leases
Allowance for loan losses:
Allowance for loan losses, beginning balance	1,139,000	1,010,000	1,079,000	1,054,000
Provision (credit) for losses	(59,000)	59,000	182,000	201,000
Charge-offs	(105,000)	(31,000)	(304,000)	(396,000)
Recoveries	112,000	9,000	130,000	188,000
Allowance for loan losses, ending balance	1,087,000	1,047,000	1,087,000	1,047,000
Allowance for loan losses, individually evaluated for impairment	0		0		0
Allowance for loan losses, collectively evaluated for impairment	1,087,000		1,087,000		1,079,000
Allowance for loan losses, balance	1,087,000	1,047,000	1,087,000	1,047,000	1,079,000
Loans, individually evaluated for impairment	0		0		0
Loans, collectively evaluated for impairment	129,884,000		129,884,000		126,762,000
Total Portfolio Loans and Leases	129,884,000		129,884,000		126,762,000
Consumer
Allowance for loan losses:
Allowance for loan losses, beginning balance	235,000	200,000	195,000	185,000
Provision (credit) for losses	84,000	(5,000)	167,000	24,000
Charge-offs	(60,000)	(8,000)	(114,000)	(83,000)
Recoveries	6,000	9,000	17,000	70,000
Allowance for loan losses, ending balance	265,000	196,000	265,000	196,000
Allowance for loan losses, individually evaluated for impairment	0		0		0
Allowance for loan losses, collectively evaluated for impairment	265,000		265,000		195,000
Allowance for loan losses, balance	265,000	$ 196,000	265,000	$ 196,000	195,000
Loans, individually evaluated for impairment	0		0		0
Loans, collectively evaluated for impairment	20,806,000		20,806,000		15,905,000
Total Portfolio Loans and Leases	$ 20,806,000		$ 20,806,000		$ 15,905,000

Loans, Leases and Allowance_ _2

Loans, Leases and Allowance: Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	$ 928,755	$ 845,951
Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	282,758	261,202
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	96,720	99,682
Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	140,035	93,678
Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	107,640	107,421
Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	141,162	134,155
Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	9,750	7,146
Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	129,884	126,762
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	20,806	15,905
Pass
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	909,889	825,234
Pass | Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	279,529	256,043
Pass | Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	88,283	91,082
Pass | Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	135,135	88,778
Pass | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	107,640	107,421
Pass | Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	139,340	132,223
Pass | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	9,692	7,097
Pass | Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	129,553	126,707
Pass | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	20,717	15,883
Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	10,876	12,222
Special Mention | Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	3,229	5,031
Special Mention | Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	7,474	7,191
Special Mention | Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Special Mention | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Special Mention | Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Special Mention | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Special Mention | Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	173	0
Special Mention | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Substandard
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	7,957	8,453
Substandard | Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	128
Substandard | Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	963	1,409
Substandard | Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	4,900	4,900
Substandard | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Substandard | Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	1,822	1,932
Substandard | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	58	49
Substandard | Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	125	13
Substandard | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	89	22
Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	33	42
Doubtful | Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Doubtful | Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Doubtful | Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Doubtful | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Doubtful | Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Doubtful | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Doubtful | Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	33	42
Doubtful | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Commercial mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Construction and development
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Residential mortgage
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Direct financing leases
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	0	0
Loss | Consumer
Loans and Leases Receivable Disclosure [Line Items]
Portfolio loans	$ 0	$ 0

Loans, Leases and Allowance_ _3

Loans, Leases and Allowance: Schedule of Loans Classified by Aging Analysis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Portfolio loans	$ 928,755	$ 845,951
Total Loans and Leases > 90 Days Accruing	1,882	1,847
Commercial mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	282,758	261,202
Total Loans and Leases > 90 Days Accruing	0	0
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Portfolio loans	96,720	99,682
Total Loans and Leases > 90 Days Accruing	0	0
Construction and development
Financing Receivable, Past Due [Line Items]
Portfolio loans	140,035	93,678
Total Loans and Leases > 90 Days Accruing	0	0
Multi-family
Financing Receivable, Past Due [Line Items]
Portfolio loans	107,640	107,421
Total Loans and Leases > 90 Days Accruing	0	0
Residential mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	141,162	134,155
Total Loans and Leases > 90 Days Accruing	1,709	1,813
Home equity
Financing Receivable, Past Due [Line Items]
Portfolio loans	9,750	7,146
Total Loans and Leases > 90 Days Accruing	30	12
Direct financing leases
Financing Receivable, Past Due [Line Items]
Portfolio loans	129,884	126,762
Total Loans and Leases > 90 Days Accruing	54	0
Consumer
Financing Receivable, Past Due [Line Items]
Portfolio loans	20,806	15,905
Total Loans and Leases > 90 Days Accruing	89	22
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Portfolio loans	752	1,161
30-59 Days Past Due | Commercial mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	29
30-59 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Portfolio loans	28	33
30-59 Days Past Due | Construction and development
Financing Receivable, Past Due [Line Items]
Portfolio loans	84	55
30-59 Days Past Due | Multi-family
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	0
30-59 Days Past Due | Residential mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	386	710
30-59 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	131
30-59 Days Past Due | Direct financing leases
Financing Receivable, Past Due [Line Items]
Portfolio loans	135	144
30-59 Days Past Due | Consumer
Financing Receivable, Past Due [Line Items]
Portfolio loans	119	59
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Portfolio loans	963	961
60-89 Days Past Due | Commercial mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	0
60-89 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Portfolio loans	551	579
60-89 Days Past Due | Construction and development
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	96
60-89 Days Past Due | Multi-family
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	0
60-89 Days Past Due | Residential mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	299	174
60-89 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Portfolio loans	19	0
60-89 Days Past Due | Direct financing leases
Financing Receivable, Past Due [Line Items]
Portfolio loans	63	82
60-89 Days Past Due | Consumer
Financing Receivable, Past Due [Line Items]
Portfolio loans	31	30
90 Days and Over
Financing Receivable, Past Due [Line Items]
Portfolio loans	7,262	7,360
90 Days and Over | Commercial mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	128
90 Days and Over | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Portfolio loans	367	366
90 Days and Over | Construction and development
Financing Receivable, Past Due [Line Items]
Portfolio loans	4,900	4,900
90 Days and Over | Multi-family
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	0
90 Days and Over | Residential mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	1,822	1,932
90 Days and Over | Home equity
Financing Receivable, Past Due [Line Items]
Portfolio loans	30	12
90 Days and Over | Direct financing leases
Financing Receivable, Past Due [Line Items]
Portfolio loans	54	0
90 Days and Over | Consumer
Financing Receivable, Past Due [Line Items]
Portfolio loans	89	22
Total Past Due
Financing Receivable, Past Due [Line Items]
Portfolio loans	8,977	9,482
Total Past Due | Commercial mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	157
Total Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Portfolio loans	946	978
Total Past Due | Construction and development
Financing Receivable, Past Due [Line Items]
Portfolio loans	4,984	5,051
Total Past Due | Multi-family
Financing Receivable, Past Due [Line Items]
Portfolio loans	0	0
Total Past Due | Residential mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	2,507	2,816
Total Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Portfolio loans	49	143
Total Past Due | Direct financing leases
Financing Receivable, Past Due [Line Items]
Portfolio loans	252	226
Total Past Due | Consumer
Financing Receivable, Past Due [Line Items]
Portfolio loans	239	111
Current
Financing Receivable, Past Due [Line Items]
Portfolio loans	919,778	836,469
Current | Commercial mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	282,758	261,045
Current | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Portfolio loans	95,774	98,704
Current | Construction and development
Financing Receivable, Past Due [Line Items]
Portfolio loans	135,051	88,627
Current | Multi-family
Financing Receivable, Past Due [Line Items]
Portfolio loans	107,640	107,421
Current | Residential mortgage
Financing Receivable, Past Due [Line Items]
Portfolio loans	138,655	131,339
Current | Home equity
Financing Receivable, Past Due [Line Items]
Portfolio loans	9,701	7,003
Current | Direct financing leases
Financing Receivable, Past Due [Line Items]
Portfolio loans	129,632	126,536
Current | Consumer
Financing Receivable, Past Due [Line Items]
Portfolio loans	$ 20,567	$ 15,794

Loans, Leases and Allowance_ Im

Loans, Leases and Allowance: Impaired Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Recorded Balance
Loans without a specific valuation allowance, recorded balance	$ 481	$ 614
Loans with a specific valuation allowance, recorded balance	5,496	5,528
Total impaired loans, recorded balance	5,977	6,142
Unpaid Principal Balance
Loans without a specific valuation allowance, unpaid principal balance	809	1,009
Loans with a specific valuation allowance, unpaid principal balance	5,543	5,558
Total impaired loans, unpaid principal balance	6,352	6,567
Loans with a specific valuation allowance	1,046	1,049
Commercial mortgage
Recorded Balance
Loans without a specific valuation allowance, recorded balance		128
Total impaired loans, recorded balance		128
Unpaid Principal Balance
Loans without a specific valuation allowance, unpaid principal balance		199
Total impaired loans, unpaid principal balance		199
Loans with a specific valuation allowance		0
Commercial and industrial
Recorded Balance
Loans without a specific valuation allowance, recorded balance	367	367
Loans with a specific valuation allowance, recorded balance	596	628
Total impaired loans, recorded balance	963	995
Unpaid Principal Balance
Loans without a specific valuation allowance, unpaid principal balance	567	566
Loans with a specific valuation allowance, unpaid principal balance	643	658
Total impaired loans, unpaid principal balance	1,210	1,224
Loans with a specific valuation allowance	296	299
Construction and development
Recorded Balance
Loans with a specific valuation allowance, recorded balance	4,900	4,900
Total impaired loans, recorded balance	4,900	4,900
Unpaid Principal Balance
Loans with a specific valuation allowance, unpaid principal balance	4,900	4,900
Total impaired loans, unpaid principal balance	4,900	4,900
Loans with a specific valuation allowance	750	750
Residential mortgage
Recorded Balance
Loans without a specific valuation allowance, recorded balance	114	119
Total impaired loans, recorded balance	114	119
Unpaid Principal Balance
Loans without a specific valuation allowance, unpaid principal balance	242	244
Total impaired loans, unpaid principal balance	242	244
Loans with a specific valuation allowance	$ 0	$ 0

Loans, Leases and Allowance_ _4

Loans, Leases and Allowance: Financing Receivable, Nonaccrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Average Investment in Impaired Loans and Leases	$ 5,982	$ 6,283	$ 6,054	$ 5,038
Interest Income Recognized	7	30	33	54
Total nonaccrual loans and leases	6,009		6,009		$ 6,184
Commercial mortgage
Financing Receivable, Past Due [Line Items]
Average Investment in Impaired Loans and Leases		171	61	124
Interest Income Recognized		13	12	23
Total nonaccrual loans and leases	0		0		128
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Average Investment in Impaired Loans and Leases	967	1,022	976	1,054
Interest Income Recognized	6	13	18	24
Total nonaccrual loans and leases	962		962		995
Construction and development
Financing Receivable, Past Due [Line Items]
Average Investment in Impaired Loans and Leases	4,900	4,900	4,900	3,675
Interest Income Recognized	0	0	0	0
Construction
Financing Receivable, Past Due [Line Items]
Total nonaccrual loans and leases	4,900		4,900		4,900
Residential mortgage
Financing Receivable, Past Due [Line Items]
Average Investment in Impaired Loans and Leases	115	190	117	185
Interest Income Recognized	1	$ 4	3	$ 7
Total nonaccrual loans and leases	114		114		119
Leases
Financing Receivable, Past Due [Line Items]
Total nonaccrual loans and leases	$ 33		$ 33		$ 42

Loans, Leases and Allowance_ Tr

Loans, Leases and Allowance: Troubled Debt Restructuring (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract	Dec. 31, 2021 USD ($)
Receivables [Abstract]
Number of loan and leases modified | contract	0	0	0	0
Troubled debt restructuring, write-down	$ 0	$ 0	$ 0	$ 0
Troubled debt restructurings related allowance	46,000		46,000		$ 49,000
Troubled debt restructuring, subsequent default payments	$ 0		$ 0

Loans, Leases and Allowance_ Re

Loans, Leases and Allowance: Real Estate Owned and Foreclosed Real Estate Policy (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Foreclosed residential real estate with physical possession	$ 68	$ 27
Consumer mortgage loans secured by residential real estate properties in process of foreclosure	$ 1,000	$ 885

Loans, Leases and Allowance_ Di

Loans, Leases and Allowance: Direct Financing Lease, Lease Income (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Total minimum lease payments to be received	$ 142,893	$ 140,214
Initial direct costs	7,807	7,035
Direct financing lease revenue	150,700	147,249
Less: Unearned income	(20,816)	(20,487)
Net investment in direct finance leases	$ 129,884	$ 126,762

Loans, Leases and Allowance_ Le

Loans, Leases and Allowance: Leases Serviced for the Benefit of Others (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Leases serviced for the benefit of others	$ 0	$ 0
Recorded recourse obligation on leases sold with recourse	$ 0	$ 0

Loans, Leases and Allowance_ _5

Loans, Leases and Allowance: Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Receivables [Abstract]
Remainder of 2022	$ 14,836
2023	49,991
2024	37,928
2025	24,283
2026	12,729
Thereafter	3,126
Payments to be received	$ 142,893

Fair Value of Financial Instr_3

Fair Value of Financial Instruments: Fair Value, Assets Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	$ 279,745	$ 357,538
U.S. Treasury securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	394
SBA Pools
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	6,451	8,613
Federal agencies
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	12,517	14,726
State and municipal obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	129,940	167,452
Mortgage-backed securities - government-sponsored enterprises (GSE) residential
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	120,512	162,510
Corporate obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	9,931	4,224
Equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure		13
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	13
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | SBA Pools
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Federal agencies
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | State and municipal obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities - government-sponsored enterprises (GSE) residential
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure		13
Significant Other Observable Inputs (Level 2)
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	279,745	357,525
Significant Other Observable Inputs (Level 2) | U.S. Treasury securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	394
Significant Other Observable Inputs (Level 2) | SBA Pools
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	6,451	8,613
Significant Other Observable Inputs (Level 2) | Federal agencies
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	12,517	14,726
Significant Other Observable Inputs (Level 2) | State and municipal obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	129,940	167,452
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities - government-sponsored enterprises (GSE) residential
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	120,512	162,510
Significant Other Observable Inputs (Level 2) | Corporate obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	9,931	4,224
Significant Other Observable Inputs (Level 2) | Equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure		0
Significant Unobservable Inputs (Level 3)
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Unobservable Inputs (Level 3) | U.S. Treasury securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0
Significant Unobservable Inputs (Level 3) | SBA Pools
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Unobservable Inputs (Level 3) | Federal agencies
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Unobservable Inputs (Level 3) | State and municipal obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities - government-sponsored enterprises (GSE) residential
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Unobservable Inputs (Level 3) | Corporate obligations
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	$ 0	0
Significant Unobservable Inputs (Level 3) | Equity securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments: Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Nonrecurring | Mortgage-servicing rights
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	$ 1,739	$ 1,647
Fair Value, Nonrecurring | Impaired loans, collateral dependent
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	300	4,587
Fair Value, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	279,745	357,538
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Nonrecurring | Mortgage-servicing rights
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Nonrecurring | Impaired loans, collateral dependent
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	13
Significant Other Observable Inputs (Level 2) | Fair Value, Nonrecurring | Mortgage-servicing rights
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Other Observable Inputs (Level 2) | Fair Value, Nonrecurring | Impaired loans, collateral dependent
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	0	0
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	279,745	357,525
Significant Unobservable Inputs (Level 3) | Fair Value, Nonrecurring | Mortgage-servicing rights
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	1,739	1,647
Significant Unobservable Inputs (Level 3) | Fair Value, Nonrecurring | Impaired loans, collateral dependent
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	300	4,587
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets, fair value disclosure	$ 0	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments: Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Mortgage-servicing rights	$ 1,738,700	$ 1,646,509
Significant Unobservable Inputs (Level 3)
Fair Value, Option, Quantitative Disclosures [Line Items]
Collateral-dependent impaired loans	300,000	4,587,000
Mortgage-servicing rights	$ 1,739,000	$ 1,647,000
Significant Unobservable Inputs (Level 3) | Discount rate | Discounted cash flow
Fair Value, Option, Quantitative Disclosures [Line Items]
Mortgage-servicing rights, Measurement Input	0.10	0.10
Minimum | Significant Unobservable Inputs (Level 3) | Marketability discount | Appraisal
Fair Value, Option, Quantitative Disclosures [Line Items]
Collateral-dependent impaired loans, measurement input	0	0
Maximum | Significant Unobservable Inputs (Level 3) | Marketability discount | Appraisal
Fair Value, Option, Quantitative Disclosures [Line Items]
Collateral-dependent impaired loans, measurement input	0.44	0.39

Fair Value of Financial Instr_6

Fair Value of Financial Instruments: Schedule of Fair Value of Financial Instruments (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Held-to-maturity securities	$ 7,110,000	$ 9,186,000
FHLB advances	187,000,000	180,000,000
Quoted Prices in Active Markets for Identical Assets (Level 1) | Financial assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	19,352,000	23,038,000
Available-for-sale securities	0	13,000
Held-to-maturity securities	0	0
Loans held for sale	0	0
Loans and leases receivable, net	0	0
Federal Reserve and FHLB stock	0	0
Interest receivable	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Financial liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Deposits	0	0
FHLB advances	0	0
Interest payable	0	0
Significant Other Observable Inputs (Level 2) | Financial assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	0	0
Available-for-sale securities	279,745,000	357,525,000
Held-to-maturity securities	7,110,000	9,186,000
Loans held for sale	0	0
Loans and leases receivable, net	0	0
Federal Reserve and FHLB stock	9,902,000	9,992,000
Interest receivable	3,961,000	4,193,000
Significant Other Observable Inputs (Level 2) | Financial liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Deposits	950,221,000	900,528,000
FHLB advances	181,294,000	185,065,000
Interest payable	676,000	258,000
Significant Unobservable Inputs (Level 3) | Financial assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	0	0
Available-for-sale securities	0	0
Held-to-maturity securities	0	0
Loans held for sale	69,000	555,000
Loans and leases receivable, net	850,950,000	833,975,000
Federal Reserve and FHLB stock	0	0
Interest receivable	0	0
Significant Unobservable Inputs (Level 3) | Financial liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Deposits	0	0
FHLB advances	0	0
Interest payable	0	0
Carrying Value | Financial assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	19,352,000	23,038,000
Available-for-sale securities	279,745,000	357,538,000
Held-to-maturity securities	7,360,000	9,041,000
Loans held for sale	78,000	558,000
Loans and leases receivable, net	915,464,000	832,846,000
Federal Reserve and FHLB stock	9,902,000	9,992,000
Interest receivable	3,961,000	4,193,000
Carrying Value | Financial liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Deposits	958,640,000	900,175,000
FHLB advances	187,000,000	180,000,000
Interest payable	$ 676,000	$ 258,000

Earnings per Share_ Schedule of

Earnings per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ 3,158	$ 3,082	$ 9,661	$ 8,426
Average shares outstanding (in shares)	11,823,889	12,499,455	12,071,247	12,837,793
Less: average restricted stock award shares not vested (in shares)	261,291	348,395	318,722	404,509
Less: average unearned ESOP Shares (in shares)	924,154	978,260	937,580	991,686
Shares outstanding for Basic EPS (in shares)	10,638,444	11,172,800	10,814,945	11,441,598
Additional dilutive shares (in shares)	197,173	300,652	331,684	244,137
Shares outstanding for diluted EPS (in shares)	10,835,617	11,473,452	11,146,629	11,685,735
Basic earnings per share (in USD per share)	$ 0.30	$ 0.28	$ 0.89	$ 0.74
Diluted earnings per share (in USD per share)	$ 0.29	$ 0.27	$ 0.87	$ 0.72

Benefit Plans_ Narrative (Detai

Benefit Plans: Narrative (Details)				3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 01, 2021 USD ($) $ / shares shares	Oct. 01, 2020 USD ($) $ / shares shares	Jul. 01, 2020 $ / shares shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2021 installment	Sep. 15, 2020 shares
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer matching contribution, percent of employees' gross pay						50%
Defined contribution plan, employer matching contribution, percent of match						6%
Defined contribution plan, administrative expense				$ 62,000	$ 49,000	$ 170,000	$ 165,000
Total ESOP shares (in shares) | shares			1,082,130	1,082,130		1,082,130		1,082,130
Quoted per share price (in USD per share) | $ / shares			$ 13.59			$ 13.43		$ 16.05
Value of ESOP shares				$ 12,376,872		$ 12,376,872		$ 12,928,359
Share-based payment arrangement, expense				(187,815)	$ (207,062)	$ (621,540)	$ (580,576)
Granted (in shares) | shares						0
Grant date fair value (in USD per share) | $ / shares						$ 0
Restricted Stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Grant date fair value (in USD per share) | $ / shares						$ 0
2020 Equity Incentive Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Granted (in shares) | shares	8,000	1,095,657
Grant date fair value (in USD per share) | $ / shares	$ 13.86	$ 10.53
2020 Equity Incentive Plan | Stock option
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Common shares authorized (in shares) | shares										1,352,662
Stock options vesting installments | installment									5
Share-based payment arrangement, expense				156,000		$ 463,000
Tax benefit recognized				17,000		51,000
Unrecognized compensation expense				1,700,000		1,700,000
2020 Equity Incentive Plan | Restricted Stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Common shares authorized (in shares) | shares										541,065
Common shares awarded (in shares) | shares	4,000	449,086
Grant date fair value (in USD per share) | $ / shares	$ 13.86	$ 10.53
Total market value	$ 55,000	$ 4,700,000
Stock options vesting installments | installment									5
Share-based payment arrangement, expense				232,000		688,000
Tax benefit recognized				49,000		144,000
Unrecognized compensation expense				$ 2,500,000		$ 2,500,000

Benefit Plans_ Employee Stock O

Benefit Plans: Employee Stock Ownership Plan (ESOP) Disclosures (Details) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 01, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Retirement Benefits [Abstract]
ESOP shares expense		$ 188,000	$ 207,000	$ 621,540	$ 580,576
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Earned ESOP shares (in shares)		171,356		171,356		130,775
Unearned ESOP shares (in shares)		910,774		910,774		951,355
Total ESOP shares (in shares)	1,082,130	1,082,130		1,082,130		1,082,130
Quoted per share price (in USD per share)	$ 13.59			$ 13.43		$ 16.05
Fair value of earned shares		$ 2,301,000		$ 2,301,000		$ 2,099,000
Fair value of unearned shares		$ 12,232,000		$ 12,232,000		$ 15,269,000

Benefit Plans_ Restricted Stock

Benefit Plans: Restricted Stock Activity (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Restricted Shares
Nonvested, beginning balance (in shares) | shares	348,395
Granted (in shares) | shares	0
Vested (in shares) | shares	(87,104)
Forfeited (in shares) | shares	0
Nonvested, ending balance (in shares) | shares	261,291
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in UDS per share) | $ / shares	$ 10.56
Granted (in USD per share) | $ / shares	0
Vested (in USD per share) | $ / shares	10.56
Forfeited (in USD per share) | $ / shares	0
Nonvested, ending balance (in UDS per share) | $ / shares	$ 10.56

Benefit Plans_ Stock Option Act

Benefit Plans: Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	1,050,961
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Forfeited/expired (in shares) | shares	0
Ending balance (in shares) | shares	1,050,961
Exercisable at end of year (in shares) | shares	413,120
Weighted-Average Exercise Price
Balance at beginning of year (in USD per share) | $ / shares	$ 10.56
Grant date fair value (in USD per share) | $ / shares	0
Exercised (in USD per share) | $ / shares	0
Forfeited/expired (in USD per share) | $ / shares	0
Balance at end of year (in USD per share) | $ / shares	10.56
Exercisable at end of year (in USD per share) | $ / shares	$ 10.56

Benefit Plans_ Fair Value Measu

Benefit Plans: Fair Value Measurement of Stock Options (Details)	Apr. 01, 2021
Retirement Benefits [Abstract]
Dividend yields	1.90%
Volatility factors of expected market price of common stock	26.98%
Risk-free interest rates	1.16%
Expected life of options (in years)	6 years 1 month 6 days

Benefit Plans_ Stock Option Sta

Benefit Plans: Stock Option Status (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Non-vested, beginning of year (in shares) | shares	850,458
Vested (in shares) | shares	(212,617)
Granted (in shares) | shares	0
Forfeited (in shares) | shares	0
Non-vested, end of year (in shares) | shares	637,841
Weighted Average Grant Date Fair Value
Non-vested, beginning of year (in USD per share) | $ / shares	$ 2.91
Vested (in USD per share) | $ / shares	2.91
Granted (in USD per share) | $ / shares	0
Forfeited (in USD per share) | $ / shares	0
Non-vested, end of year (in USD per share) | $ / shares	$ 2.91

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event	1 Months Ended
	Nov. 10, 2022 shares
Subsequent Event [Line Items]
Shares repurchased (in shares)	7,186
Remaining number of shares authorized to be repurchased (in shares)	1,133,388