First Seacoast Bancorp (FSEA) 10-Q 14 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	FSEA
Title of 12(b) Security	Common stock, $0.01 par value per share
Security Exchange Name	NASDAQ
Entity Registrant Name	First Seacoast Bancorp
Entity Central Index Key	0001769267
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		6,029,153
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	X1
Entity Address, Address Line One	633 Central Avenue
Entity Address, City or Town	Dover
Entity Address, State or Province	NH
City Area Code	603
Local Phone Number	742-4680
Entity Address, Postal Zip Code	03820
Entity Tax Identification Number	84-2404519
Entity File Number	001-38985

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 22,674	$ 5,996
Interest bearing time deposits with other banks	2,488	2,488
Securities available-for-sale, at fair value	53,616	55,470
Federal Home Loan Bank stock	1,868	1,796
Total Loans	374,798	368,142
Less allowance for loan losses	(3,404)	(3,342)
Net loans	371,394	364,800
Land, building and equipment, net	4,948	5,078
Bank-owned life insurance	4,376	4,356
Accrued interest receivable	1,351	1,412
Other assets	2,074	1,666
Total assets	464,789	443,062
Deposits:
Non-interest bearing deposits	70,485	64,571
Interest bearing deposits	291,014	262,810
Total deposits	361,499	327,381
Advances from Federal Home Loan Bank	29,032	34,127
Advances from Federal Reserve Bank	9,438	18,195
Mortgagors’ tax escrow	2,045	1,420
Deferred compensation liability	1,581	1,667
Other liabilities	2,178	1,411
Total liabilities	405,773	384,201
Stockholders' Equity:
Preferred Stock, $.01 par value, 10,000,000 shares authorized as of March 31, 2021 and December 31, 2020; none issued and outstanding as of March 31, 2021 and December 31, 2020
Common Stock, $.01 par value, 90,000,000 shares authorized as of March 31, 2021 and December 31, 2020; 6,083,500 shares issued and 6,033,767 shares outstanding at March 31, 2021 and 6,058,024 shares issued and outstanding as of December 31, 2020, respectively	60	61
Additional paid-in capital	25,604	25,606
Equity capital	35,100	34,192
Accumulated other comprehensive income	833	1,381
Treasury stock, at cost: 49,733 and 25,476 shares outstanding as of March 31, 2021 and December 31, 2020, respectively	(465)	(233)
Unearned compensation - ESOP 211,644 and 214,625 shares unallocated at March 31, 2021 and December 31, 2020, respectively	(2,116)	(2,146)
Total stockholders' equity	59,016	58,861
Total liabilities and stockholders' equity	$ 464,789	$ 443,062

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Common stock par value per share	$ 0.01	$ 0.01
Common stock,number of shares authorized	90,000,000	90,000,000
Common stock,number of shares issued	6,083,500	6,058,024
Common stock,number of shares outstanding	6,033,767	6,058,024
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Treasury Stock, Shares outstanding	49,733	25,476
ESOP,Unearned Compensation,Shares	211,644	214,625

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest and dividend income:
Interest and fees on loans	$ 3,668	$ 3,609
Interest on debt securities:
Taxable	42	87
Non-taxable	222	190
Total interest on debt securities	264	277
Dividends		42
Total interest and dividend income	3,932	3,928
Interest expense:
Interest on deposits	179	514
Interest on borrowings	86	276
Total interest expense	265	790
Net interest and dividend income	3,667	3,138
Provision for loan losses	60	115
Net interest and dividend income after provision for loan losses	3,607	3,023
Noninterest income:
Customer service fees	233	232
Gain on sale of loans	40	52
Securities gains, net	203	114
Income from bank-owned life insurance	20	4
Loan servicing income (loss)	83	(25)
Investment services fees	55	47
Other income	15	15
Total noninterest income	649	439
Noninterest expense:
Salaries and employee benefits	1,866	1,990
Director compensation	62	58
Occupancy expense	167	153
Equipment expense	141	144
Marketing	60	91
Data processing	319	267
Deposit insurance fees	30	30
Professional fees and assessments	205	196
Debit card fees	42	49
Employee travel and education expenses	16	32
Other expense	184	172
Total noninterest expense	3,092	3,182
Income before income tax expense	1,164	280
Income tax expense	256	23
Net income	$ 908	$ 257
Earnings per share:
Basic	$ 0.16	$ 0.04
Diluted	$ 0.16	$ 0.04
Weighted Average Shares:
Basic	5,837,665	5,859,932
Diluted	5,837,665	5,859,932

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 908	$ 257
Other comprehensive income (loss), net of income taxes:
Unrealized holding (losses) gains on securities available-for-sale arising during the period net of income taxes of $(252) and $94, respectively	(678)	253
Reclassification adjustment for gains and losses and net amortization or accretion on securities available-for-sale included in net income net of income taxes of $(17) and $(18), respectively	(46)	(48)
Total unrealized (loss) gain on securities	(724)	205
Change in interest rate swaps net of income taxes of $64 and $-0- respectively	172
Reclassification adjustment for net interest expense on swaps included in net income net of income taxes of $1 and $-0-, respectively	4
Total change in interest rate swaps	176
Other comprehensive income (loss)	(548)	205
Comprehensive income	$ 360	$ 462

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Unrealized holding gains (losses) on securities available-for-sale arising during the period net of income taxes	$ (252)	$ 94
Reclassification adjustment for gains and losses and net amortization or accretion on securities available-for-sale included in net income net of income taxes	(17)	(18)
Change in interest rate swaps net of income taxes	64	0
Reclassification adjustment for net interest expense on swaps included innet income net of income taxes	$ 1	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Equity Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Unearned Compensation ESOP [Member]
Beginning Balance at Dec. 31, 2019	$ 57,066	$ 61	$ 25,636	$ 33,113	$ 521		$ (2,265)
Beginning Balance (shares) at Dec. 31, 2019		6,083,500
Net income	257			257
Other comprehensive income (loss)	205				205
ESOP shares earned - 2,981 shares	26		(3)				29
Ending Balance at Mar. 31, 2020	57,554	$ 61	25,633	33,370	726		(2,236)
Ending Balance (shares) at Mar. 31, 2020		6,083,500
Beginning Balance at Dec. 31, 2020	58,861	$ 61	25,606	34,192	1,381	$ (233)	(2,146)
Beginning Balance (shares) at Dec. 31, 2020		6,058,024
Net income	908			908
Other comprehensive income (loss)	(548)				(548)
Treasury stock activity	$ (233)	$ (1)				(232)
Treasury stock activity (shares)	(24,257)	(24,257)
ESOP shares earned - 2,981 shares	$ 28		(2)				30
Ending Balance at Mar. 31, 2021	$ 59,016	$ 60	$ 25,604	$ 35,100	$ 833	$ (465)	$ (2,116)
Ending Balance (shares) at Mar. 31, 2021		6,033,767

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Statement Of Stockholders Equity [Abstract]
Number of shares committed to be released each year,ESOP	2,981	11,924	2,981

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 908	$ 257
Adjustments to reconcile net income to net cash provided by (used) by operating activities:
ESOP expense	28	26
Depreciation	141	144
Net amortization of bond premium	140	48
Provision for loan losses	60	115
Gain on sale of loans	(40)	(52)
Securities (gains), net	(203)	(114)
Proceeds from loans sold	1,325	3,966
Origination of loans sold	(1,285)	(3,914)
Increase in bank-owned life insurance	(20)	(5)
Increase in deferred fees on loans	(231)	(15)
Deferred tax expense	123	32
Decrease (increase) in accrued interest receivable	61	(4)
(Increase) decrease in other assets	(328)	290
Decrease in deferred compensation liability	(86)	(81)
Increase (decrease) in other liabilities	1,009	(765)
Net cash provided by (used) in operating activities	1,602	(72)
Cash flows from investing activities:
Proceeds from sales, maturities and principal payments received from securities available-for-sale	9,746	15,731
Purchase of securities available-for-sale	(8,822)	(14,103)
Purchase of property and equipment	(11)	(239)
Loan purchases	(2,444)
Loan originations and principal collections, net	(3,981)	(4,311)
Recoveries of loans previously charged off	2
Net purchase of Federal Home Loan Bank stock	(72)	(73)
Proceeds from sales of interest bearing time deposits with other banks		247
Net cash used by investing activities	(5,582)	(2,748)
Cash flows from financing activities:
Net increase in NOW, demand deposits, money market and savings accounts	21,949	1,069
Net increase in certificates of deposit	12,169	40
Increase in mortgagors’ escrow accounts	625	1,304
Treasury stock purchases	(233)
Net cash provided by financing activities	20,658	3,186
Net change in cash and cash equivalents	16,678	366
Cash and cash equivalents at beginning of period	5,996	4,009
Cash and cash equivalents at end of period	22,674	4,375
Cash activities:
Cash paid for interest	279	776
Cash paid for income taxes	3	2
Effect of change in fair value of securities available for sale:
Investment securities available-for-sale	(993)	281
Deferred taxes	269	(76)
Total unrealized (loss) gain on securities	(724)	205
Effect of change in fair value of interest rate swaps:
Interest rate swaps	241
Deferred taxes	(65)
Other comprehensive income (loss)	176
Federal Home Loan Bank Advances [Member]
Cash flows from financing activities:
Proceeds from short-term FHLB advances	5,000	10,680
Proceeds from long-term FHLB advances		20,000
Payments on short-term FHLB advances	(10,095)	$ (29,907)
FRB [Member]
Cash flows from financing activities:
Payments on short-term FHLB advances	$ (8,757)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies The accompanying consolidated financial statements include the accounts of First Seacoast Bancorp (the “Company”), its wholly-owned subsidiary, First Seacoast Bank (the “Bank”), and the Bank’s wholly-owned subsidiary, FSB Service Corporation, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. Basis of Presentation The accompanying unaudited consolidated financial statements of the Company were prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim consolidated financial information, general practices within the banking industry and with instructions for Form 10-Q and Regulation S-X. Accordingly, these interim financial statements do not include all the information or footnotes required by GAAP for annual financial statements. However, in the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of these consolidated financial statements have been included. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results which may be expected for the entire year. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the U.S. Securities and Exchange Commission (“SEC”) on March 26, 2021. Corporate Structure The Company is the federally-chartered holding company for the Bank (formerly named Federal Savings Bank). Effective July 16, 2019, pursuant to a Plan of Reorganization from Mutual Savings Bank to Mutual Holding Company and Stock Issuance Plan (the “Plan of Reorganization”), the Bank reorganized into the mutual holding company structure and the Company completed a concurrent stock offering (collectively, the “Reorganization:”). In the stock offering, the Company sold a total of 2,676,740 shares of common stock, which included 238,473 shares sold to the First Seacoast Bank Employee Stock Ownership Plan (the “ESOP”), at a price of $10.00 per share. In addition, as part of the Reorganization, the Company issued 3,345,925 shares of common stock to First Seacoast Bancorp, MHC (the “MHC”), the Bank’s parent mutual holding company, and 60,835 shares of common stock and $150,000 in cash to First Seacoast Community Foundation, Inc. (the “Foundation”), a charitable foundation formed in connection with the reorganization and dedicated to supporting charitable organizations operating in the Bank’s local community. The Company’s common stock began trading on the NASDAQ Capital Market under the symbol “FSEA” on July 17, 2019. Pursuant to the Plan of Reorganization, the Bank adopted an employee stock ownership plan (“ESOP”), which purchased 238,473 shares of common stock in the stock offering with the proceeds of a loan from the Company. The Bank offers a full range of banking and wealth management services to its customers. The Bank focuses on four core services that center around customer needs. The core services include residential lending, commercial banking, personal banking and wealth management. The Bank offers a full range of commercial and consumer banking services through its network of five full-service branch locations. Investment management services are offered at the Company’s full-service wealth management office in Dover, New Hampshire. The assets held for wealth management customers are not assets of the Company and, accordingly, are not reflected in the accompanying balance sheets. Assets under management totaled approximately $61.0 million and $58.4 million at March 31, 2021 and December 31, 2020, respectively. The Bank is engaged principally in the business of attracting deposits from the public and investing those funds in various types of loans, including residential and commercial real estate, and a variety of commercial and consumer loans. The Bank also invests its deposits and borrowed funds in investment securities. Deposits at the Bank are insured by the Federal Deposit and Insurance Corporation (“FDIC”) for the maximum amount permitted by FDIC regulations. Banking services, the Company’s only reportable operating segment, is managed as a single strategic unit. Recently Adopted Accounting Standards As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. As a result, the Company’s consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards without an extended transition period. As of March 31, 2021, there was no significant difference in the comparability of the Company’s consolidated financial statements as a result of this extended transition period except for the accounting treatment for measuring and recording the Company’s allowance for loan losses. The Company measures and records an allowance for loan losses based upon the incurred loss model while other public companies may be required to calculate their allowance for loan losses based upon the current expected credit loss (“CECL”) model. The CECL approach requires an estimate of the loan loss expected over the life of the loan, while the incurred loss approach delays the recognition of a loan loss until it is probable a loss event has incurred. The Company’s status as an “emerging growth company” will end on the earlier of: (i) the last day of the fiscal year of the Company during which it had total annual gross revenues of $1.07 billion (as adjusted for inflation) or more; (ii) the last day of the fiscal year of the Company following the fifth anniversary of the effective date of the Company’s initial public offering; (which will be December 31, 2024 for the Company) (iii) the date on which the Company has, during the previous three-year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which the Company is deemed to be a “large accelerated filer” under Securities and Exchange Commission regulations (generally, at least $700 million of voting and non-voting equity held by non-affiliates). In August 2017, the FASB issued Accounting Standards Update (ASU) 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The amendments in ASU 2017-12 apply to any entity that elects to apply hedge accounting in accordance with U.S. generally accepted accounting principles (U.S. GAAP). The main changes introduced by ASU 2017-12 eliminate the requirement to separately measure and report hedge ineffectiveness; and requires companies to present all of the elements of hedge accounting that affect earnings in the same income statement line as the hedged item. The standard also permits hedge accounting for strategies for which hedge accounting was not historically permitted and includes new alternatives for measuring the hedged item for fair value hedges of interest rate risk. Furthermore, the standard eases the requirements for effectiveness testing, hedge documentation, applying the critical terms match method, and introduces new alternatives that will permit companies to reduce the risk of material error corrections if they misapply the shortcut method. The adoption of this ASU on January 1, 2021 did not have a material impact on the Company’s consolidated financial statements. Recent Accounting Pronouncements Yet to Be Adopted The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on the Company’s consolidated financial statements. In January 2021, the FASB issued ASU 2021-1, “Reference Rate Reform (Topic 848) (Scope),” which clarifies certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting applied to derivatives that are affected by the discounting transition. This ASU becomes effective immediately for all entities on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final Update, up to the date that financial statements are available to be issued. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2020, the FASB issued ASU No. 2020-05, “Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities,” as a limited deferral of the effective dates, for one year, of ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” and ASU No. 2016-02, “Leases (Topic 842),” to provide immediate, near-term relief for certain entities for whom these ASU’s are either currently or imminently effective as a result of COVID-19. The Company adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” as of January 1, 2019. The Company does not expect the adoption of ASU No. 2016-02, “Leases (Topic 842),” to have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional guidance to ease the potential burden in accounting due to reference rate reform. The guidance in this update provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made, and hedging relationships entered into, on or before December 31, 2022. The Company is currently evaluating its contracts and the optional expedients provided by the new standard. In February 2020, the FASB issued ASU 2020-2, “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842).” This ASU adds an SEC paragraph pursuant to the issuance of SEC SAB Topic No. 119 to the FASB Codification Topic 326 and updates the SEC section of the Codification for the change in the effective dates of Topic 842. This ASU primarily details guidance on what SEC staff would expect a registrant to perform and document when measuring and recording its allowance for credit losses for financial assets recorded at amortized cost. In January 2020, the FASB issued ASU 2020-1, “Investments – Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions Between Topic 321, Topic 323, and T 815 (A Consensus of the Emerging Issues Task Force),” which clarifies the interaction among the accounting standards for equity securities, equity method investments and certain derivatives. This ASU becomes effective for public entities for fiscal years beginning after December 15, 2020 and all other entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies accounting for income taxes by removing specific technical exceptions. The guidance removes the need for companies to analyze whether (1) the exception to the incremental approach for intra-period tax allocation, (2) exceptions to accounting for basis differences when there are ownership changes in foreign investments and (3) the exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses apply in a given period. The amendments in this ASU are effective for smaller reporting companies for fiscal years beginning after December 15, 2021. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments – Credit Losses,” to increase stakeholder awareness of the improvements made to the various amendments to Topic 326 and to clarify certain areas of guidance as companies transition to the new standard. Also, during November 2019, the FASB issued ASU 2019-10, “Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” finalizing various effective date deferrals for private companies, not-for-profit organizations and certain smaller reporting companies applying the credit losses (CECL), leases and hedging standards. The effective date for ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” is deferred to years beginning after December 15, 2022. The effective date for ASU 2016-02, “Leases (Topic 842)” is deferred to fiscal years beginning after December 15, 2021. In April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” to increase stakeholders’ awareness of the amendments and to expedite improvements to the Codification. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments—Credit Losses, Topic 326.” This ASU addresses certain stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. On October 16, 2019, the FASB approved a proposal to delay the implementation of this standard for smaller reporting companies to years beginning after December 15, 2022. Early adoption is permitted. Upon adoption, however, the Company will apply the standard’s provisions as a cumulative effect adjustment to equity capital as of the first reporting period in which the guidance is effective. Upon adoption, the Company expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in the assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. The Company is reviewing the requirements of ASU 2016-13 and is developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. At this time, the Company anticipates the allowance for loan losses will increase as a result of the implementation of this ASU; however, until its evaluation is complete, the magnitude of the increase will be unknown. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which creates a new credit impairment standard for financial assets measured at amortized cost and available-for-sale debt securities. The ASU requires financial assets measured at amortized cost (including loans and held-to-maturity debt securities) to be presented at the net amount expected to be collected, through an allowance for credit losses that are expected to occur over the remaining life of the asset, rather than incurred losses. The ASU requires that credit losses on available-for-sale debt securities be presented as an allowance rather than as a direct write-down. The measurement of credit losses for newly recognized financial assets (other than certain purchased assets) and subsequent changes in the allowance for credit losses are recorded in the statement of income as the amounts expected to be collected change. The ASU was originally to be effective for fiscal years beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2021. In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” extending the implementation date by one year for smaller reporting companies and clarifying that operating lease receivables are outside the scope of Accounting Standards Codification Topic 326. In April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” to increase stakeholders’ awareness of the amendments and to expedite improvements to the Codification. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments—Credit Losses, Topic 326.” This ASU addresses certain stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13, while still providing financial statement users with decision-useful information. On October 16, 2019, the FASB approved a proposal to delay the implementation of this standard for smaller reporting companies to years beginning after December 15, 2022. Early adoption is permitted. Upon adoption, however, the Company will apply the standard’s provisions as a cumulative effect adjustment to equity capital as of the first reporting period in which the guidance is effective. Upon adoption, the Company expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in the assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. The Company is reviewing the requirements of ASU 2016-13 and is developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. At this time, the Company anticipates the allowance for loan losses will increase as a result of the implementation of this ASU; however, until its evaluation is complete, the magnitude of the increase will be unknown.

Cash and Due From Banks

Cash and Due From Banks	3 Months Ended
	Mar. 31, 2021
Cash And Due From Banks [Abstract]
Cash and Due From Banks	2. Cash and Due From Banks At March 31, 2021 and December 31, 2020, cash and due from banks totaled $22.7 million and $6.0 million, respectively. The Company pledged cash collateral to derivative counterparties totaling $525,000 at March 31, 2021 and December 31, 2020. See Note 12 for a discussion of the Company’s derivative and hedging activities.

Securities Available-for-Sale

Securities Available-for-Sale	3 Months Ended
	Mar. 31, 2021
Available For Sale Securities [Abstract]
Securities Available For Sale	3 . Securities Available-for-Sale The amortized cost and fair value of securities available-for-sale, and the corresponding amounts of gross unrealized gains and losses, are as follows as of March 31, 2021 and December 31, 2020: March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in thousands) U.S. Government-sponsored enterprises obligations $ 1,979 $ — $ (90 ) $ 1,889 U.S. Government agency small business administration pools guaranteed by SBA 2,194 27 — 2,221 Collateralized mortgage obligations issued by the FHLMC and FNMA 1,330 7 (3 ) 1,334 Residential mortgage backed securities 10,732 45 (268 ) 10,509 Municipal bonds 36,343 1,457 (137 ) 37,663 $ 52,578 $ 1,536 $ (498 ) $ 53,616 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in thousands) U.S. Government-sponsored enterprises obligations $ 997 $ — $ (24 ) $ 973 U.S. Government agency small business administration pools guaranteed by SBA 2,399 71 — 2,470 Collateralized mortgage obligations issued by the FHLMC 938 11 — 949 Residential mortgage backed securities 5,100 49 (13 ) 5,136 Municipal bonds 44,005 1,944 (7 ) 45,942 $ 53,439 $ 2,075 $ (44 ) $ 55,470 The amortized cost and fair values of available-for-sale securities at March 31, 2021 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (Dollars in thousands) March 31, 2021 Due after one year through five years $ — $ — Due after five years through ten years 2,316 2,236 Due after ten years 36,006 37,316 U.S. Government-sponsored enterprises obligations and municipal bonds $ 38,322 $ 39,552 U.S. Government agency small business pools guaranteed by SBA 2,194 2,221 Collateralized mortgage obligations issued by the FHLMC and FNMA 1,330 1,334 Residential mortgage backed securities 10,732 10,509 Total $ 52,578 $ 53,616 The following is a summary of gross unrealized losses and fair value for those investments with unrealized losses, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 2020: Less than 12 Months More than 12 Months Total Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in thousands) March 31, 2021 U.S. Government sponsored enterprises obligations 3 $ 1,889 $ (90 ) — $ — $ — $ 1,889 $ (90 ) U.S. Government agency small business administration pools guaranteed by SBA — — — — — — — — Collateralized mortgage obligations issued by the FHLMC and FNMA 1 476 (3 ) — — — 476 (3 ) Residential mortgage backed securities 7 8,663 (268 ) — — — 8,663 (268 ) Municipal bonds 12 7,992 (130 ) 4 1,313 (7 ) 9,305 (137 ) 23 $ 19,020 $ (491 ) 4 $ 1,313 $ (7 ) $ 20,333 $ (498 ) December 31, 2020 U.S. Government sponsored enterprises obligations 2 $ 973 $ (24 ) — $ — $ — $ 973 $ (24 ) U.S. Government agency small business administration pools guaranteed by SBA — — — — — — — — Collateralized mortgage obligations issued by the FHLMC — — — — — — — — Residential mortgage backed securities 1 3,102 (13 ) — — — 3,102 (13 ) Municipal bonds 4 2,381 (7 ) — — — 2,381 (7 ) 7 $ 6,456 $ (44 ) — $ — $ — $ 6,456 $ (44 ) In evaluating whether investments have suffered an other-than-temporary decline, management evaluated the amount of the decline compared to cost, the length of time and extent to which fair value has been less than cost, the underlying creditworthiness of the issuer, the fair values exhibited during the year and estimated future fair values. In general, management concluded the declines are due to coupon rates compared to market rates and current economic conditions. The Company does not intend to sell investments with unrealized losses as it is more likely than not that the Company will not be required to sell these investments before recovery of their amortized cost basis. Based on evaluations of the underlying issuers’ financial condition, current trends and economic conditions, management does not believe any securities suffered an other-than-temporary decline in value as of March 31, 2021 or December 31, 2020. Proceeds from sales, maturities, principal payments received and gross realized gains and losses on available for sale securities were as follows for the three months ended: March 31, 2021 2020 (Dollars in thousands) Proceeds from sales, maturities and principal payments received on securities available-for-sale $ 9,746 $ 15,731 Gross realized gains 203 118 Gross realized losses — (4 ) Net realized gains $ 203 $ 114 As of March 31, 2021 or December 31, 2020, there were no holdings that were issued by a single state or political subdivision, which comprised more than 10% of the total fair value of the Company’s available-for-sale securities.

Loans

Loans	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Loans	4 . Loans The Bank’s lending activities are primarily conducted in and around Dover, New Hampshire, and in the areas surrounding its branches. The Bank grants commercial real estate loans, multifamily 5+ dwelling unit loans, commercial and industrial loans, acquisition, development and land loans, 1–4 family residential loans, home equity line of credit loans and consumer loans. Most loans are collateralized by real estate. The ability and willingness of real estate, commercial and construction loan borrowers to honor their repayment commitments is generally dependent on the health of the real estate sector in the borrowers’ geographic area and the general economy. In December 2019, a novel strain of coronavirus (“COVID-19”) was reported and in March 2020, the COVID-19 outbreak was declared a pandemic. On March 27, 2020, the Small Business Administration (“SBA”) established a loan program in response to the COVID-19 pandemic, the Paycheck Protection Program (“PPP”), which was added to the SBA’s 7(a) loan program by of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) (such loans, “PPP loans”). The PPP, a nearly $350 billion program, was designed to aid small- and medium-sized businesses through federally guaranteed SBA loans distributed through banks. On December 27, 2020, the 2021 Consolidated Appropriations Act was signed, which extended relief provisions contained in the CARES act to the earlier of 60 days after the national emergency termination date or January 1, 2022. This legislation also included a $900 billion relief package and the extension of certain relief provisions from the March 2020 CARES Act that were set to expire at the end of 2020, including the extension of the eviction moratorium and $286 billion of additional PPP funds. The Consolidated Appropriations Act also continued to suspend the requirements under GAAP for loan modifications related to the COVID–19 pandemic that would otherwise be categorized as a troubled debt restructuring (“TDR”) and suspend any determination of a loan modified as a result of the effects of the COVID–19 pandemic as being a TDR, including impairment for accounting purposes. During the three months ended March 31, 2021 and the year ended December 31, 2020 the Bank originated 113 and 286 PPP loans, respectively, with aggregate outstanding principal balances of $11.9 million and $33.0 million, respectively. As of March 31, 2021 and December 31, 2020, total PPP loan principal balances of $23.0 million and $21.2 million, respectively, and were included in commercial and industrial loans (C+I). Loans consisted of the following at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (Dollars in thousands) Commercial real estate (CRE) $ 72,992 $ 66,166 Multifamily (MF) 5,965 6,619 Commercial and industrial (C+I) 42,251 45,262 Acquisition, development, and land (ADL) 31,674 23,145 1-4 family residential (RES) 209,798 213,718 Home equity line of credit (HELOC) 8,399 9,583 Consumer (CON) 2,783 2,944 Total loans 373,862 367,437 Net deferred loan costs 936 705 Allowance for loan losses (3,404 ) (3,342 ) Total loans, net $ 371,394 $ 364,800 Changes in the allowance for loan losses (“ALL”) for the three months ended March 31, 2021 and 2020 by portfolio segment are summarized as follows: (Dollars in thousands) CRE MF C+I ADL RES HELOC CON Unallocated Total Balance, December 31, 2020 $ 753 $ 60 $ 267 $ 174 $ 1,656 $ 78 $ 52 $ 302 $ 3,342 Provision for loan losses 160 (21 ) (62 ) 122 (97 ) (11 ) (3 ) (28 ) 60 Charge-offs — — — — — — — — — Recoveries — — 1 — — — 1 — 2 Balance, March 31, 2021 $ 913 $ 39 $ 206 $ 296 $ 1,559 $ 67 $ 50 $ 274 $ 3,404 Balance, December 31, 2019 $ 781 $ 23 $ 350 $ 145 $ 1,503 $ 52 $ 18 $ 3 $ 2,875 Provision for loan losses (4 ) 25 (63 ) (10 ) 140 27 2 (2 ) 115 Charge-offs — — — — — — — — — Recoveries 19 — — — — — — — 19 Balance, March 31, 2020 $ 796 $ 48 $ 287 $ 135 $ 1,643 $ 79 $ 20 $ 1 $ 3,009 As of March 31, 2021 and December 31, 2020, information about loans and the ALL by portfolio segment are summarized below: (Dollars in thousands) CRE MF C+I ADL RES HELOC CON Unallocated Total March 31, 2021 Loan Balances Individually evaluated for impairment $ 343 $ — $ 36 $ — $ 62 $ — $ — $ — $ 441 Collectively evaluated for impairment 72,649 5,965 42,215 31,674 209,736 8,399 2,783 — 373,421 Total $ 72,992 $ 5,965 $ 42,251 $ 31,674 $ 209,798 $ 8,399 $ 2,783 $ — $ 373,862 ALL related to the loans Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 913 39 206 296 1,559 67 50 274 3,404 Total $ 913 $ 39 $ 206 $ 296 $ 1,559 $ 67 $ 50 $ 274 $ 3,404 December 31, 2020 Loan Balances Individually evaluated for impairment $ 117 $ — $ 822 $ — $ 62 $ — $ — $ — $ 1,001 Collectively evaluated for impairment 66,049 6,619 44,440 23,145 213,656 9,583 2,944 — 366,436 Total $ 66,166 $ 6,619 $ 45,262 $ 23,145 $ 213,718 $ 9,583 $ 2,944 $ — $ 367,437 ALL related to the loans Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 753 60 267 174 1,656 78 52 302 3,342 Total $ 753 $ 60 $ 267 $ 174 $ 1,656 $ 78 $ 52 $ 302 $ 3,342 The following is an aged analysis of past due loans by portfolio segment as of March 31, 2021: (Dollars in thousands) 30-59 Days 60-89 Days 90 + Days Total Past Due Current Total Loans Non-Accrual Loans CRE $ — $ — $ — $ — $ 72,992 $ 72,992 $ — MF — — — — 5,965 5,965 — C+I — — — — 42,251 42,251 — ADL — — — — 31,674 31,674 — RES — — 62 62 209,736 209,798 62 HELOC 123 — — 123 8,276 8,399 — CON — — — — 2,783 2,783 — $ 123 $ — $ 62 $ 185 $ 373,677 $ 373,862 $ 62 The following is an aged analysis of past due loans by portfolio segment as of December 31, 2020: (Dollars in thousands) 30-59 Days 60-89 Days 90 + Days Total Past Due Current Total Loans Non-Accrual Loans CRE $ — $ — $ — $ — $ 66,166 $ 66,166 $ — MF — — — — 6,619 6,619 — C+I — — 822 822 44,440 45,262 822 ADL — — — — 23,145 23,145 — RES 42 — 62 104 213,614 213,718 62 HELOC 143 — — 143 9,440 9,583 — CON — — — — 2,944 2,944 — $ 185 $ — $ 884 $ 1,069 $ 366,368 $ 367,437 $ 884 There were no loans collateralized by residential real estate property in the process of foreclosure at March 31, 2021 or December 31, 2020. The following table provides information on impaired loans as of March 31, 2021 and December 31, 2020: (Dollars in thousands) Recorded Carrying Value Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2021 With no related allowance recorded: CRE $ — $ — $ — $ — $ — MF — — — — — C+I — — — — — ADL — — — — — RES 62 62 — 62 — HELOC — — — — — CON — — — — — Total impaired loans $ 62 $ 62 $ — $ 62 $ — December 31, 2020 With no related allowance recorded: CRE $ — $ — $ — $ — $ — MF — — — — — C+I 822 938 — 909 — ADL — — — — — RES 62 62 — 64 5 HELOC — — — — — CON — — — — — Total impaired loans $ 884 $ 1,000 $ — $ 973 $ 5 Credit Quality Information The Bank utilizes a ten-grade internal loan rating system for its commercial real estate, multifamily, commercial and industrial and acquisition, development and land loans. Residential real estate, home equity line of credit and consumer loans are considered “pass” rated loans until they become delinquent. Once delinquent, loans can be rated an 8, 9 or 10 as applicable. Loans rated 1 through 6: Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 7: Loans in this category are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 8: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Bank will sustain some loss if the weakness is not corrected. Loans rated 9: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Loans rated 10: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted and should be charged off. On an annual basis, or more often if needed, the Bank formally reviews the ratings on its commercial and industrial, commercial real estate and multifamily loans. On a periodic basis, the Bank engages an independent third party to review a significant portion of loans within these segments and to assess the credit risk management practices of its commercial lending department. Management uses the results of these reviews as part of its annual review process and overall credit risk administration. On a quarterly basis, the Bank formally reviews the ratings on its applicable residential real estate and home equity loans if they have become classified as non-accrual. Criteria used to determine ratings consist of loan-to-value ratios and days delinquent. The following presents the internal risk rating of loans by portfolio segment as of March 31, 2021: (Dollars in thousands) Pass Special Mention Substandard Total CRE $ 69,900 $ 2,749 $ 343 $ 72,992 MF 5,965 — — 5,965 C+I 41,063 1,152 36 42,251 ADL 31,674 — — 31,674 RES 209,736 — 62 209,798 HELOC 8,399 — — 8,399 CON 2,783 — — 2,783 Total $ 369,520 $ 3,901 $ 441 $ 373,862 The following presents the internal risk rating of loans by portfolio segment as of December 31, 2020: (Dollars in thousands) Pass Special Mention Substandard Total CRE $ 63,191 $ 2,858 $ 117 $ 66,166 MF 6,619 — — 6,619 C+I 41,021 4,083 158 45,262 ADL 23,145 — — 23,145 RES 213,656 — 62 213,718 HELOC 9,583 — — 9,583 CON 2,944 — — 2,944 Total $ 360,159 $ 6,941 $ 337 $ 367,437 In response to the COVID-19 pandemic, the Bank has implemented a short-term loan modification program to provide temporary payment relief to certain of our borrowers who meet the program's qualifications. In April 2020, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, issued an interagency statement titled “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus,” that encourages financial institutions to work prudently with borrowers who are or may be unable to meet their contractual payment obligations due to the effects of the COVID-19 pandemic. The interagency statement was effective immediately and impacted accounting for loan modifications. Under Accounting Standards Codification 310-40, “Receivables – Troubled Debt Restructurings by Creditors (ASC 310-40),” a restructuring of debt constitutes a troubled debt restructuring, or TDR, if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. The regulatory agencies confirmed with the staff of the FASB that short-term modifications made on a good faith basis in response to the COVID-19 pandemic to borrowers who were current prior to any relief, are not to be considered TDRs. These include short-term modifications such as payment deferrals, fee waivers, extensions of repayment terms or other delays in payment that are insignificant. Additionally, Section 4013 of the CARES Act that became law on March 27, 2020 further provided banks with the option to elect either or both of the following, from March 1, 2020 until the earlier of December 31, 2020 or the date that is 60 days after the date on which the national emergency concerning the COVID-19 pandemic declared by the President of the United States under the National Emergencies Act (50 U.S.C. 1601 et seq.) terminates (extended to January 1, 2022 by the 2021 Consolidated Appropriations Act): (i) to suspend the requirements under GAAP for loan modifications related to the COVID–19 pandemic that would otherwise be categorized as a TDR; and/or (ii) to suspend any determination of a loan modified as a result of the effects of the COVID–19 pandemic as being a TDR, including impairment for accounting purposes. If a bank elects a suspension noted above, the suspension (i) will be effective for the term of the loan modification, but solely with respect to any modification, including a forbearance arrangement, an interest rate modification, a repayment plan, and any other similar arrangement that defers or delays the payment of principal or interest, that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019 and (ii) will not apply to any adverse impact on the credit of a borrower that is not related to the COVID–19 pandemic. The Company has applied this guidance to qualifying loan modifications. The program has been offered to both retail and commercial borrowers. The majority of short-term loan modifications for retail loan borrowers consist of deferred payments (which may include principal, interest, and escrow), which are capitalized to the loan balance and recovered through the re-amortization of the monthly payment at the end of the deferral period. For commercial loan borrowers, the majority of short-term modifications consist of allowing the borrower to make interest-only payments with the deferred principal to be due at maturity or repaid as the monthly payment is re-amortized at the next interest reset date as is applicable to the individual loan structure. Alternatively, commercial loan borrowers may defer their full monthly payment similar to the retail loan program outlined above. All loans modified under these programs are maintained on full accrual status during the deferral period. As of March 31, 2021, temporary payment relief continued for 4 loans with aggregate outstanding principal balances of $3.2 million and consists of 1 CRE loan with an aggregate outstanding principal balance of $2.7 million and 3 RES loans with aggregate outstanding principal balances of $446,000. Under the applicable regulatory guidance, none of these loans were considered troubled debt restructurings as of March 31, 2021. Certain directors and executive officers of the Company and companies in which they have significant ownership interests were customers of the Bank. Loans outstanding to these persons and entities at March 31, 2021 and December 31, 2020 were $5.2 million and $5.3 million, respectively.

Loan Servicing

Loan Servicing	3 Months Ended
	Mar. 31, 2021
Transfers And Servicing [Abstract]
Loan Servicing	5 . Loan Servicing Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of such loans were $43.8 million and $45.8 million at March 31, 2021 and December 31, 2020, respectively. Substantially all of these loans were originated by the Bank and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset and are initially recorded at fair value (see Note 13, Fair Value of Assets and Liabilities, for more information). Changes to the balance of mortgage servicing rights are recorded in loan servicing income (loss) in the Company’s consolidated statements of income. The Bank’s mortgage servicing activities include: collecting principal, interest and escrow payments from borrowers; making tax and insurance payments on behalf of borrowers; monitoring delinquencies and executing foreclosure proceedings; and accounting for and remitting principal and interest payments to investors. Loan servicing income (loss), including late and ancillary fees, was $83,000 and ($25,000) for the three months ended March 31, 2021 and 2020, respectively. The Bank’s residential mortgage investor loan servicing portfolio is primarily comprised of fixed rate loans concentrated in the Bank’s market areas. The following summarizes activity in mortgage servicing rights for the three months ended March 31, 2021 and 2020: (Dollars in thousands) 2021 2020 Balance, December 31, $ 273 $ 397 Additions 13 43 Payoffs (14 ) (26 ) Change in fair value due to change in assumptions 57 (72 ) Balance, March 31, $ 329 $ 342

Deposits

Deposits	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Deposits	6 . Deposits Deposits consisted of the following at March 31, 2021 and December 31, 2020: (Dollars in thousands) March 31, 2021 December 31, 2020 NOW and demand deposits $ 174,585 $ 161,336 Money market deposits 73,662 69,320 Savings deposits 52,415 48,057 Time deposits of $250,000 and greater 8,226 10,119 Time deposits less than $250,000 52,611 38,549 $ 361,499 $ 327,381 At March 31, 2021, the scheduled maturities of time deposits were as follows (in thousands): 2021 $ 43,438 2022 12,013 2023 2,123 2024 672 2025 1,645 2026 946 $ 60,837 There were $15.0 million and $-0- of brokered deposits included in time deposits at March 31, 2021 and December 31, 2020, respectively.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Borrowings	7 . Borrowings Federal Home Loan Bank (FHLB A summary of borrowings from the FHLB is as follows: March 31, 2021 Principal Amounts Maturity Dates Interest Rates (Dollars in thousands) $ 5,000 2021 0.37% – fixed 2,262 2022 0.00% – fixed 10,800 2024 0.00% to 1.39% – fixed 10,520 2025 0.00% to 1.35% – fixed 250 2028 0.00% – fixed 200 2030 0.00% – fixed $ 29,032 December 31, 2020 Principal Amounts Maturity Dates Interest Rates (Dollars in thousands) $ 10,095 2021 0.39% (fixed) to 0.42% (variable) 2,262 2022 0.00% – fixed 10,800 2024 0.00% to 1.39% – fixed 10,520 2025 0.00% to 1.35% – fixed 250 2028 0.00% – fixed 200 2030 0.00% – fixed $ 34,127 All borrowings from the FHLB are secured by a blanket security agreement on qualified collateral, principally residential mortgage loans and certain U.S. government sponsored mortgage-backed securities in an aggregate amount equal to outstanding advances. The Bank’s unused remaining available borrowing capacity at the FHLB was approximately $103.2 million and $112.6 million at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 and December 31, 2020, the Bank had sufficient collateral at the FHLB to support its obligations and was in compliance with the FHLB’s collateral pledging program. Included in the above advances at March 31, 2021 and December 31, 2020 is a $10.0 million long-term advance, with an interest rate of 1.39%, which is callable by the FHLB on June 5, 2021 and quarterly thereafter, and a $10.0 million long-term advance, with an interest rate of 1.35%, which is callable by the FHLB on May 10, 2021 and quarterly thereafter. At March 31, 2021 and December 31, 2020 borrowings include $4.0 million of advances through the FHLB’s Jobs for New England program where certain qualifying small business loans that create or preserve jobs, expand woman-, minority- or veteran- owned businesses, or otherwise stimulate the economy in New England communities are offered at an interest rate of 0%. At March 31, 2021, the Bank had an overnight line of credit with the FHLB that may be drawn up to $3.0 million. Additionally, the Bank had a total of $5.0 million of unsecured Fed Funds borrowing lines of credit with two correspondent banks. The entire balance of all these credit facilities was available at March 31, 2021. Federal Reserve Bank of Boston (“FRB” The Bank has established a Paycheck Protection Program Liquidity Facility (“PPPLF”). The PPPLF allowed us to request advances from the FRB. Under the PPPLF, advances are secured by pledges of PPP loans. The interest rate applicable to any advance made under the PPPLF is 35 basis points. As of March 31, 2021, $9.4 million of PPPLF advances are outstanding and collateralized by 47 PPP loans. As of December 31, 2020, $18.2 million of PPPLF advances were outstanding and collateralized by 110 PPP loans. Maturities of PPPLF advances are tied to the maturity of the underlying PPP loan and will be accelerated if the PPP loan is sold or forgiven.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefits	Employee Benefits Employee Stock Ownership Plan The Company established the First Seacoast Bank Employee Stock Ownership Plan (“ESOP”) to provide eligible employees of the Company the opportunity to own Company stock. The ESOP is a tax-qualified retirement plan for the benefit of Company employees. Contributions are allocated to eligible participants based on compensation, subject to federal limits. The number of shares committed to be released per year through 2038 is 11,924. The ESOP funded its purchase of 238,473 shares through a loan from the Company equal to 100% of the aggregate purchase price of the common stock. The ESOP trustee will repay the loan principally through the Bank’s contributions to the ESOP over the remaining loan term that matures on December 31, 2038. At March 31, 2021 and December 31, 2020, the remaining principal balance on the ESOP debt was $2.2 million. Under applicable accounting requirements, the Company records compensation expense for the ESOP equal to fair market value of shares when they are committed to be released from the suspense account to participants’ accounts under the plan. Total compensation expense recognized in connection with the ESOP for the three months ended March 31, 2021 and 2020 was $28,000 and $26,000, respectively. March 31, 2021 December 31, 2020 Shares held by the ESOP include the following: Allocated 23,848 11,924 Committed to be allocated 2,981 11,924 Unallocated 211,644 214,625 Total 238,473 238,473 The fair value of unallocated shares was approximately $2.1 million and $1.9 million at March 31, 2021 and December 31, 2020, respectively. 401(k) Plan The Company sponsors a 401(k) defined contribution plan for substantially all employees pursuant to which employees of the Company could elect to make contributions to the plan subject to Internal Revenue Service limits. The Company made matching and profit-sharing contributions to eligible participants in accordance with plan provisions. The Company’s contributions for the three months ended March 31, 2021 and 2020 were $50,000. Pension Plan The Company participates in the Pentegra Defined Benefit Plan for Financial Institutions (The Pentegra DB Plan), a tax-qualified defined benefit pension plan. The Pentegra DB Plan operates as a multi-employer plan for accounting purposes and as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 The funded status (fair value of plan assets divided by funding target) as of July 1, 2020 is as follows: 2020 Valuation Report 90.76 % (1) (1) Fair value of plan assets reflects any contributions received through June 30, 2020. Based upon the funded status of the Pentegra DB Plan as of July 1, 2020, no funding improvement plan or rehabilitation plan has been implemented or is pending as of March 31, 2021. Total pension plan expense for the three months ended March 31, 2021 and 2020 was $90,000 and $99,000, respectively, and is included in salaries and employee benefits expense in the accompanying consolidated financial statements. The Company did not pay a surcharge to the Pentegra DB Plan during the three months ended March 31, 2021. The Company enacted a “hard freeze” for the Pentegra DB Plan as of December 31, 2018, eliminating all future service-related accruals for participants. Prior to this enactment the Company maintained a “soft freeze” status that continued service-related accruals for its active participants with no new participants permitted into the Pentegra DB Plan. The Company estimates a contribution amount of approximately $360,000 for the fiscal year ending December 31, 2021. Supplemental Executive Retirement Plans Salary Continuation Plan The Company maintains a nonqualified supplemental retirement plan for its current President and former President. The plan provides supplemental retirement benefits payable in installments over a period of years upon retirement or death. The recorded liability at March 31, 2021 and December 31, 2020 relating to this supplemental retirement plan was $615,000 and $607,000, respectively. The discount rate used to determine the Company’s obligation was 5.00%. The projected rate of salary increase for its current President was 3%. The expense of this salary retirement plan was $21,000 and $25,000 for the three months ended March 31, 2021 and 2020, respectively. Executive Supplemental Retirement Plan The recorded liability at March 31, 2021 and December 31, 2020 relating to the supplemental retirement plan for the Bank’s former President was $85,000 and $132,000, respectively. The discount rate used to determine the Company’s obligation was 6.25% at March 31, 2021 and December 31, 2020. The expense of this salary retirement plan was $1,000 and $2,000 for the three months ended March 31, 2021 and 2020, respectively. Endorsement Method Split Dollar Plan The Company has an endorsement method split dollar plan for a former President/Director. The recorded liability at March 31, 2021 and December 31, 2020 relating to this supplemental executive benefit agreement was $34,000. The expense of this supplemental plan was $-0- for the three months ended March 31, 2021 and 2020. Directors Deferred Supplemental Retirement Plan The Company has a supplemental retirement plan for eligible directors that provides for monthly benefits based upon years of service to the Company, subject to certain limitations as set forth in the agreements. The present value of these future payments is being accrued over the estimated period of service. The estimated liability at March 31, 2021 and December 31, 2020 relating to this plan was $516,000 and $573,000, respectively. The discount rate used to determine the Company’s obligation was 6.25% at March 31, 2021 and December 31, 2020. Total supplemental retirement plan expense amounted to $17,000 and $10,000 for the three months ended March 31, 2021 and 2020, respectively. Additionally, the Company has a deferred director’s fee plan, which allows members of the board of directors to defer the receipt of fees that otherwise would be paid to them. At March 31, 2021 and December 31, 2020, the total deferred director’s fees amounted to $332,000 and $321,000, respectively.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2021
Disclosure Of Other Comprehensive Income Loss [Abstract]
Other Comprehensive Income	9 . Other Comprehensive Income The Company reports certain items as “other comprehensive income” (“OCI”) and reflects total comprehensive income in the consolidated financial statements for all periods containing elements of other comprehensive income. The following table presents a reconciliation of the changes in the components of other comprehensive income (loss) for the dates indicated, including the amount of income tax expense allocated to each component of other comprehensive income (loss): (Dollars in thousands) Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Affected Line Item in Statements of Income Gains on securities available for sale $ (203 ) $ (114 ) Securities (gains), net Tax effect 55 31 Income tax expense (148 ) (83 ) Net income Net amortization of premium on securities 140 48 Interest on debt securities Tax effect (38 ) (13 ) Income tax expense 102 35 Net income Net interest expense on swaps 5 — Interest expense on borrowings Tax effect (1 ) — Income tax expense 4 — Net income Total reclassification adjustments $ (42 ) $ (48 )

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2021
Disclosure Of Regulatory Matters [Abstract]
Regulatory Matters	10 . Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below). As of March 31, 2021, the most recent notification from the Office of the Comptroller of the Currency categorized the Bank, as well capitalized under the regulatory framework, for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum capital amounts and ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed the Bank’s category. Management believes that, as of March 31, 2021 and December 31, 2020, the Bank met all capital adequacy requirements to which it is subject, including the capital conservation buffer, at those dates. The following table presents actual and required capital ratios as of March 31, 2021 and December 31, 2020 for the Bank under the Basel Committee on Banking Supervisions capital guidelines for U.S. banks (“Basel III Capital Rules”) as fully phased-in on January 1, 2019. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Minimum Capital Minimum Capital Required For Capital Adequacy Plus Capital Conservation Buffer Actual Requirement Fully Phased-In (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2021 Total Capital (to risk-weighted assets) $ 51,520 17.90 % $ 23,026 8.00 % $ 30,221 10.50 % Tier 1 Capital (to risk-weighted assets) 48,069 16.70 17,270 6.00 24,466 8.50 Tier 1 Capital (to average assets) 48,069 10.87 17,689 4.00 17,689 4.00 Common Equity Tier 1 (to risk-weighted assets) 48,069 16.70 12,953 4.50 20,149 7.00 Minimum Capital Minimum Capital Required For Capital Adequacy Plus Capital Conservation Buffer Actual Requirement Fully Phased-In (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio December 31, 2020 Total Capital (to risk-weighted assets) $ 50,612 17.92 % $ 22,593 8.00 % $ 29,653 10.50 % Tier 1 Capital (to risk-weighted assets) 47,222 16.72 16,945 6.00 24,005 8.50 Tier 1 Capital (to average assets) 47,222 10.59 17,836 4.00 17,836 4.00 Common Equity Tier 1 (to risk-weighted assets) 47,222 16.72 12,709 4.50 19,769 7.00

Common Stock Repurchases

Common Stock Repurchases	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Common Stock Repurchases	11. Common Stock Repurchases On September 23, 2020, the board of directors of the Company authorized the repurchase of up to 136,879 shares of the Company’s outstanding common stock, which equals approximately 2.3% of all shares currently outstanding and approximately 5.0% of the then outstanding shares owned by stockholders other than the MHC. As of March 31, 2021, the Company had repurchased 49,733 shares. The Company holds repurchased shares in its treasury. The Company’s repurchases of its common stock made during the quarter ended March 31, 2021 are set forth in the table below: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that may Yet Be Purchased Under the Plans or Programs January 1, 2021 - January 31, 2021 5,594 $ 8.95 5,594 105,809 February 1, 2021 - February 28, 2021 3,029 9.01 3,029 102,780 March 1, 2021 - March 31, 2021 15,634 9.87 15,634 87,146 Total 24,257 24,257

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	1 2 . Derivatives and Hedging Activities Derivatives are recognized as either assets or liabilities on the balance sheet and are measured at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and resulting designation. The Company utilizes interest rate swap agreements as part of its asset liability management strategy. Interest rate swaps involve the exchange of interest payments at specified intervals between two parties without the exchange of any underlying principal. These derivative instruments are designated as cash flow hedges with changes in the fair value of the derivative recorded in other comprehensive income (loss) and recognized in earnings when the hedged transaction affects earnings. The hedges were determined to be effective and the Company expects the hedges to remain effective during the remaining terms of the swaps. During April 2020, the Company entered into two $5 million notional interest rate swaps that have been designated as cash flow hedges on 90-day advances from FHLB. One agreement is currently active and the other is a forward swap with a start date of April 13, 2021. The purpose of these cash flow hedges is to reduce potential interest rate risk by swapping a variable rate borrowing to a fixed rate. Management deemed it prudent to limit the variability of these interest payments by entering into these interest rate swap agreements. These agreements provide for the Company to receive payments at a variable rate determined by a specific index (three-month LIBOR) in exchange for making payments at a fixed rate. Publication of LIBOR is expected to cease in June of 2023. The swap agreements allow for substitution of an alternative reference rate such as the secured overnight financing rate (“SOFR”) at that time. The changes in the fair value of interest rate swaps are reported in other comprehensive income (loss) and are subsequently reclassified into interest expense in the period that the hedged transactions affect earnings. During the next twelve months, the Company estimates that an additional $25,000 will be reclassified as an increase to interest expense. For the three months ended March 31, 2021, the change in fair value for these derivative instruments was $241,000. At March 31, 2021 and December 31, 2020, the fair value of interest rate swap derivatives resulted in an asset of $104,000 and a liability of $137,000, respectively, and is recorded in other assets and other liabilities, respectively. The following table summarizes the Company’s derivatives associated with its interest rate risk management activities: March 31, 2021 (Dollars in thousands) Start Date Maturity Date Rate Notional Assets Liabilities Debt Hedging Hedging Instruments: Interest Rate Swap 2020 4/13/2020 4/13/2025 0.68% $ 5,000 $ 24 $ — Interest Rate Swap 2021 4/13/2021 4/13/2026 0.74% $ 5,000 $ 80 $ — Total Hedging Instruments $ 10,000 $ 104 $ — Hedged Items: Variability in cash flows related to 90-day FHLB advances N/A $ — $ 5,000 December 31, 2020 (Dollars in thousands) Start Date Maturity Date Rate Notional Assets Liabilities Debt Hedging Hedging Instruments: Interest Rate Swap 2020 4/13/2020 4/13/2025 0.68% $ 5,000 $ — $ 68 Interest Rate Swap 2021 4/13/2021 4/13/2026 0.74% $ 5,000 $ — $ 69 Total Hedging Instruments $ 10,000 $ — $ 137 Hedged Items: Variability in cash flows related to 90-day FHLB advances N/A $ — $ 5,000 The following table summarizes the effect of cash flow hedge accounting on the consolidated statements of income for the three months ended March 31, 2021 and 2020: Location and Amount of Gain or Loss Recognized in Income on Cash Flow Hedging Relationships 2021 2020 (Dollars in thousands) Interest Income (Expense) Other Income (Expense) Interest Income (Expense) Other Income (Expense) The effects of cash flow hedging: Gain (loss) on cash flow hedging relationships: Amount reclassified from AOCI into income $ (5 ) $ — N/A N/A The credit risk associated with these interest rate swaps is the risk of default by the counterparty. To minimize this risk, the Company only enters into interest rate swaps agreements with highly rated counterparties that management believes to be creditworthy. The notional amounts of these agreements do not represent amounts exchanged by the parties and, therefore, are not a measure of the potential loss exposure. Risk management results for the three months ended March 31, 2021, related to the balance sheet hedging of $5.0 million of 90 day FHLB advances, included in borrowings, indicate that the hedge was 100% effective and there was no component of the derivative instruments’ unrealized gain or loss which was excluded from the assessment of hedge effectiveness. The Company’s arrangement with its counterparty requires it to post cash or other assets as collateral for its interest rate swap contracts in a net liability position based on their aggregate fair value and the Company’s credit rating. At March 31, 2021 and December 31, 2020, the Company posted $525,000 of cash to the counterparty as collateral on its interest rate swap contracts which was presented within cash and due from banks on the consolidated balance sheets.

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities	3 Months Ended
	Mar. 31, 2021
Disclosure Of Fair Values Of Assets And Liabilities [Abstract]
Fair Values of Assets and Liabilities	1 3 . Fair Values of Assets and Liabilities Determination of Fair Value The fair value of an asset or liability 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. The Company uses prices and inputs that are current as of the measurement date, including during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from one level to another. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various assets and liabilities. In cases where quoted market prices are not available, fair values are based on estimates using present value of cash flows or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability and reliability of the assumptions used to determine fair value. Level 1 - Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 - Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 - Level 3 inputs are unobservable inputs for the asset or liability. For assets and liabilities, fair value is based upon the lowest level of observable input that is significant to the fair value measurement. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon models that primarily use, as inputs, observable market-based parameters. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value is set forth below. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all the Company’s financial assets and financial liabilities carried at fair value at March 31, 2021 and December 31, 2020. Financial Assets and Financial Liabilities: Financial assets and financial liabilities measured at fair value on a recurring basis include the following: Securities Available-for-Sale : The Company’s investment in U.S. Government-sponsored entities bonds, U.S Government agency small business administration pools guaranteed by the SBA, collateralized mortgage obligations issued by the FHLMC, residential mortgage-backed securities and other municipal bonds is generally classified within Level 2 of the fair value hierarchy. For these securities, the Company obtains fair value measurements from independent pricing services. The fair value measurements consider observable data that may include reported trades, dealer quotes, market spreads, cash flows, the U.S. treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument’s terms and conditions. Mortgage Servicing Rights : Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes interest rate, prepayment speed and default rate assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data (see Note 5 Loan Servicing for more information). These assumptions are inherently sensitive to change as these unobservable inputs are not based on quoted prices in active markets or otherwise observable. Derivative Instruments and Hedges: The valuation of these instruments is determined using the discounted cash flow method on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Total Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Securities available-for-sale: U.S. Government-sponsored enterprises obligations $ 1,889 $ — $ 1,889 $ — U.S Government agency small business administration pools guaranteed by the SBA 2,221 — 2,221 — Collateralized mortgage obligations issued by the FHLMC and FNMA 1,334 — 1,334 — Residential mortgage backed securities 10,509 — 10,509 — Municipal bonds 37,663 — 37,663 — Other assets: Mortgage servicing rights 329 — — 329 Derivatives 104 — 104 — Total Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2020 Securities available-for-sale: U.S. Government-sponsored enterprises obligations $ 973 $ — $ 973 $ — U.S Government agency small business administration pools guaranteed by the SBA 2,470 — 2,470 — Collateralized mortgage obligations issued by the FHLMC 949 — 949 — Residential mortgage backed securities 5,136 — 5,136 — Municipal bonds 45,942 — 45,942 — Other assets: Mortgage servicing rights 273 — — 273 Other Liabilities: Derivatives 137 — 137 — For the three months ended March 31, 2021 and 2020, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: (Dollars in thousands) Mortgage Servicing Rights (1) Balance as of January 1, 2021 $ 273 Included in net income 56 Balance as of March 31, 2021 $ 329 Total unrealized net gains (losses) included in net income related to assets still held as of March 31, 2021 $ — Balance as of January 1, 2020 $ 397 Included in net income (55 ) Balance as of March 31, 2020 $ 342 Total unrealized net gains (losses) included in net income related to assets still held as of March 31, 2020 $ — (1) Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of loan servicing income (loss) in the Company’s consolidated statements of income. For Level 3 assets measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: March 31, 2021 (Dollars in thousands) Valuation Technique Description Range Weighted Average (1) Fair Value Mortgage Servicing Rights Discounted Cash Flow Prepayment Rate 7.43% - 23.10% 15.00% $ 329 Discount Rate 9.00% - 9.00% 9.00% Delinquency Rate 3.81% - 4.79% 4.00% Default Rate 0.08% - 0.14% 0.13% December 31, 2020 (Dollars in thousands) Valuation Technique Description Range Weighted Average (1) Fair Value Mortgage Servicing Rights Discounted Cash Flow Prepayment Rate 14.05% - 29.77% 20.97% $ 273 Discount Rate 9.00% - 9.00% 9.00% Delinquency Rate 3.91% - 5.13% 4.12% Default Rate 0.08% - 0.14% 0.13% (1) Unobservable inputs for mortgage servicing rights were weighted by loan amount. The significant unobservable inputs used in the fair value measurement of the Company’s mortgage servicing rights are the weighted-average prepayment rate, weighted-average discount rate, weighted average delinquency rate and weighted-average default rate. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the prepayment rate and the discount rate are not directly interrelated, they generally move in opposite directions of each other. The Company estimates the fair value of mortgage servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. Observable and unobservable inputs are entered into this model as prescribed by an independent third party to arrive at an estimated fair value. See Note 5, Loan Servicing, for a rollforward of our Level 3 item and related inputs and assumptions used to determine fair value at March 31, 2021. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets measured at fair value on a non-recurring basis during the reported periods may include certain impaired loans reported at the fair value of the underlying collateral. Fair value is measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties. However, the choice of observable data is subject to significant judgment, and there are often adjustments based on judgment in order to make observable data comparable and to consider the impact of time, the condition of properties, interest rates and other market factors on current values. Additionally, commercial real estate appraisals frequently involve discounting of projected cash flows, which relies inherently on unobservable data. Therefore, real estate collateral-related non-recurring fair value measurement adjustments have generally been classified as Level 3. Estimates of fair value used for other collateral supporting commercial loans generally are based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3. Financial Non-Financial Assets and Non-Financial Liabilities: The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Non-financial assets measured at fair value on a non-recurring basis generally include certain foreclosed assets which, upon initial recognition, were remeasured and reported at fair value through a charge-off to the allowance for loan losses and certain foreclosed assets which, subsequent to their initial recognition, are remeasured at fair value through a write-down included in other non-interest expense. There were no foreclosed assets at March 31, 2021 or December 31, 2020. ASC Topic 825, “Financial Instruments,” Summary of Fair Values of Financial Instruments not Carried at Fair Value The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments at March 31, 2021 and December 31, 2020 are as follows: (Dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets: Cash and due from banks $ 22,674 $ 22,674 $ 22,674 $ — $ — Interest-bearing time deposits with other banks 2,488 2,488 — 2,488 — Federal Home Loan Bank stock 1,868 1,868 — 1,868 — Bank-owned life insurance 4,376 4,376 — 4,376 — Loans, net 371,394 371,128 — — 371,128 Accrued interest receivable 1,351 1,351 1,351 — — Financial Liabilities: Deposits $ 361,499 $ 361,693 $ 300,662 $ 61,031 $ — Advances from Federal Home Loan Bank 29,032 29,570 — 29,570 — Advances from Federal Reserve Bank 9,438 9,441 — 9,441 — Mortgagors’ tax escrow 2,045 2,045 — 2,045 — December 31, 2020 Financial Assets: Cash and due from banks $ 5,996 $ 5,996 $ 5,996 $ — $ — Interest-bearing time deposits with other banks 2,488 2,488 — 2,488 — Federal Home Loan Bank stock 1,796 1,796 — 1,796 — Bank-owned life insurance 4,356 4,356 — 4,356 — Loans, net 364,800 365,116 — — 365,116 Accrued interest receivable 1,412 1,412 1,412 — — Financial Liabilities: Deposits $ 327,381 $ 327,696 $ 278,713 $ 48,983 $ — Advances from Federal Home Loan Bank 34,127 34,832 — 34,832 — Advances from Federal Reserve Bank 18,195 18,199 — 18,199 — Mortgagors’ tax escrow 1,420 1,420 — 1,420 —

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	1 4 . Subsequent Events On April 13, 2021, the Company borrowed $5.0 million in 3-month fixed rate advances from the FHLB that will be renewed on a quarterly basis and remain outstanding until April 13, 2026. The renewal date will be on the 13th day of every January, April, July and October, and the interest rate on these quarterly advances is also expected to move closely with changes in the 3-month LIBOR. The Company’s hedging objective is to convert these floating interest payments to a fixed rate on the FHLB advances from July 13, 2021 until April 13, 2026. The Company will meet this objective using a 5-year interest rate swap with a notional amount of $5 million to pay interest at a fixed rate of 0.74% and receive interest at a variable rate equal to the 3-month LIBOR rate. Since the rate paid on the FHLB advances is expected to move closely with changes in the 3-month LIBOR, the Company anticipates that the changes in derivative cash flows will be effective in hedging the changes in FHLB debt cash flows. From April 1, 2021 through May 3, 2021, the Company purchased an additional 4,614 shares of common stock pursuant to its repurchase plan at an average cost of $9.91 per share.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company were prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim consolidated financial information, general practices within the banking industry and with instructions for Form 10-Q and Regulation S-X. Accordingly, these interim financial statements do not include all the information or footnotes required by GAAP for annual financial statements. However, in the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of these consolidated financial statements have been included. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results which may be expected for the entire year. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the U.S. Securities and Exchange Commission (“SEC”) on March 26, 2021.
Corporate Structure	Corporate Structure The Company is the federally-chartered holding company for the Bank (formerly named Federal Savings Bank). Effective July 16, 2019, pursuant to a Plan of Reorganization from Mutual Savings Bank to Mutual Holding Company and Stock Issuance Plan (the “Plan of Reorganization”), the Bank reorganized into the mutual holding company structure and the Company completed a concurrent stock offering (collectively, the “Reorganization:”). In the stock offering, the Company sold a total of 2,676,740 shares of common stock, which included 238,473 shares sold to the First Seacoast Bank Employee Stock Ownership Plan (the “ESOP”), at a price of $10.00 per share. In addition, as part of the Reorganization, the Company issued 3,345,925 shares of common stock to First Seacoast Bancorp, MHC (the “MHC”), the Bank’s parent mutual holding company, and 60,835 shares of common stock and $150,000 in cash to First Seacoast Community Foundation, Inc. (the “Foundation”), a charitable foundation formed in connection with the reorganization and dedicated to supporting charitable organizations operating in the Bank’s local community. The Company’s common stock began trading on the NASDAQ Capital Market under the symbol “FSEA” on July 17, 2019. Pursuant to the Plan of Reorganization, the Bank adopted an employee stock ownership plan (“ESOP”), which purchased 238,473 shares of common stock in the stock offering with the proceeds of a loan from the Company. The Bank offers a full range of banking and wealth management services to its customers. The Bank focuses on four core services that center around customer needs. The core services include residential lending, commercial banking, personal banking and wealth management. The Bank offers a full range of commercial and consumer banking services through its network of five full-service branch locations. Investment management services are offered at the Company’s full-service wealth management office in Dover, New Hampshire. The assets held for wealth management customers are not assets of the Company and, accordingly, are not reflected in the accompanying balance sheets. Assets under management totaled approximately $61.0 million and $58.4 million at March 31, 2021 and December 31, 2020, respectively. The Bank is engaged principally in the business of attracting deposits from the public and investing those funds in various types of loans, including residential and commercial real estate, and a variety of commercial and consumer loans. The Bank also invests its deposits and borrowed funds in investment securities. Deposits at the Bank are insured by the Federal Deposit and Insurance Corporation (“FDIC”) for the maximum amount permitted by FDIC regulations. Banking services, the Company’s only reportable operating segment, is managed as a single strategic unit.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. As a result, the Company’s consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards without an extended transition period. As of March 31, 2021, there was no significant difference in the comparability of the Company’s consolidated financial statements as a result of this extended transition period except for the accounting treatment for measuring and recording the Company’s allowance for loan losses. The Company measures and records an allowance for loan losses based upon the incurred loss model while other public companies may be required to calculate their allowance for loan losses based upon the current expected credit loss (“CECL”) model. The CECL approach requires an estimate of the loan loss expected over the life of the loan, while the incurred loss approach delays the recognition of a loan loss until it is probable a loss event has incurred. The Company’s status as an “emerging growth company” will end on the earlier of: (i) the last day of the fiscal year of the Company during which it had total annual gross revenues of $1.07 billion (as adjusted for inflation) or more; (ii) the last day of the fiscal year of the Company following the fifth anniversary of the effective date of the Company’s initial public offering; (which will be December 31, 2024 for the Company) (iii) the date on which the Company has, during the previous three-year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which the Company is deemed to be a “large accelerated filer” under Securities and Exchange Commission regulations (generally, at least $700 million of voting and non-voting equity held by non-affiliates). In August 2017, the FASB issued Accounting Standards Update (ASU) 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The amendments in ASU 2017-12 apply to any entity that elects to apply hedge accounting in accordance with U.S. generally accepted accounting principles (U.S. GAAP). The main changes introduced by ASU 2017-12 eliminate the requirement to separately measure and report hedge ineffectiveness; and requires companies to present all of the elements of hedge accounting that affect earnings in the same income statement line as the hedged item. The standard also permits hedge accounting for strategies for which hedge accounting was not historically permitted and includes new alternatives for measuring the hedged item for fair value hedges of interest rate risk. Furthermore, the standard eases the requirements for effectiveness testing, hedge documentation, applying the critical terms match method, and introduces new alternatives that will permit companies to reduce the risk of material error corrections if they misapply the shortcut method. The adoption of this ASU on January 1, 2021 did not have a material impact on the Company’s consolidated financial statements.
Recent Accounting Pronouncements Yet to Be Adopted	Recent Accounting Pronouncements Yet to Be Adopted The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on the Company’s consolidated financial statements. In January 2021, the FASB issued ASU 2021-1, “Reference Rate Reform (Topic 848) (Scope),” which clarifies certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting applied to derivatives that are affected by the discounting transition. This ASU becomes effective immediately for all entities on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final Update, up to the date that financial statements are available to be issued. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2020, the FASB issued ASU No. 2020-05, “Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities,” as a limited deferral of the effective dates, for one year, of ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” and ASU No. 2016-02, “Leases (Topic 842),” to provide immediate, near-term relief for certain entities for whom these ASU’s are either currently or imminently effective as a result of COVID-19. The Company adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” as of January 1, 2019. The Company does not expect the adoption of ASU No. 2016-02, “Leases (Topic 842),” to have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional guidance to ease the potential burden in accounting due to reference rate reform. The guidance in this update provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made, and hedging relationships entered into, on or before December 31, 2022. The Company is currently evaluating its contracts and the optional expedients provided by the new standard. In February 2020, the FASB issued ASU 2020-2, “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842).” This ASU adds an SEC paragraph pursuant to the issuance of SEC SAB Topic No. 119 to the FASB Codification Topic 326 and updates the SEC section of the Codification for the change in the effective dates of Topic 842. This ASU primarily details guidance on what SEC staff would expect a registrant to perform and document when measuring and recording its allowance for credit losses for financial assets recorded at amortized cost. In January 2020, the FASB issued ASU 2020-1, “Investments – Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions Between Topic 321, Topic 323, and T 815 (A Consensus of the Emerging Issues Task Force),” which clarifies the interaction among the accounting standards for equity securities, equity method investments and certain derivatives. This ASU becomes effective for public entities for fiscal years beginning after December 15, 2020 and all other entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies accounting for income taxes by removing specific technical exceptions. The guidance removes the need for companies to analyze whether (1) the exception to the incremental approach for intra-period tax allocation, (2) exceptions to accounting for basis differences when there are ownership changes in foreign investments and (3) the exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses apply in a given period. The amendments in this ASU are effective for smaller reporting companies for fiscal years beginning after December 15, 2021. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments – Credit Losses,” to increase stakeholder awareness of the improvements made to the various amendments to Topic 326 and to clarify certain areas of guidance as companies transition to the new standard. Also, during November 2019, the FASB issued ASU 2019-10, “Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” finalizing various effective date deferrals for private companies, not-for-profit organizations and certain smaller reporting companies applying the credit losses (CECL), leases and hedging standards. The effective date for ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” is deferred to years beginning after December 15, 2022. The effective date for ASU 2016-02, “Leases (Topic 842)” is deferred to fiscal years beginning after December 15, 2021. In April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” to increase stakeholders’ awareness of the amendments and to expedite improvements to the Codification. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments—Credit Losses, Topic 326.” This ASU addresses certain stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. On October 16, 2019, the FASB approved a proposal to delay the implementation of this standard for smaller reporting companies to years beginning after December 15, 2022. Early adoption is permitted. Upon adoption, however, the Company will apply the standard’s provisions as a cumulative effect adjustment to equity capital as of the first reporting period in which the guidance is effective. Upon adoption, the Company expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in the assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. The Company is reviewing the requirements of ASU 2016-13 and is developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. At this time, the Company anticipates the allowance for loan losses will increase as a result of the implementation of this ASU; however, until its evaluation is complete, the magnitude of the increase will be unknown. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which creates a new credit impairment standard for financial assets measured at amortized cost and available-for-sale debt securities. The ASU requires financial assets measured at amortized cost (including loans and held-to-maturity debt securities) to be presented at the net amount expected to be collected, through an allowance for credit losses that are expected to occur over the remaining life of the asset, rather than incurred losses. The ASU requires that credit losses on available-for-sale debt securities be presented as an allowance rather than as a direct write-down. The measurement of credit losses for newly recognized financial assets (other than certain purchased assets) and subsequent changes in the allowance for credit losses are recorded in the statement of income as the amounts expected to be collected change. The ASU was originally to be effective for fiscal years beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2021. In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” extending the implementation date by one year for smaller reporting companies and clarifying that operating lease receivables are outside the scope of Accounting Standards Codification Topic 326. In April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” to increase stakeholders’ awareness of the amendments and to expedite improvements to the Codification. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments—Credit Losses, Topic 326.” This ASU addresses certain stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13, while still providing financial statement users with decision-useful information. On October 16, 2019, the FASB approved a proposal to delay the implementation of this standard for smaller reporting companies to years beginning after December 15, 2022. Early adoption is permitted. Upon adoption, however, the Company will apply the standard’s provisions as a cumulative effect adjustment to equity capital as of the first reporting period in which the guidance is effective. Upon adoption, the Company expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in the assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. The Company is reviewing the requirements of ASU 2016-13 and is developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. At this time, the Company anticipates the allowance for loan losses will increase as a result of the implementation of this ASU; however, until its evaluation is complete, the magnitude of the increase will be unknown.

Securities Available-for-Sale (

Securities Available-for-Sale (Tables)	3 Months Ended
	Mar. 31, 2021
Available For Sale Securities [Abstract]
Schedule of amortized cost and fair value of securities available-for-sale	The amortized cost and fair value of securities available-for-sale, and the corresponding amounts of gross unrealized gains and losses, are as follows as of March 31, 2021 and December 31, 2020: March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in thousands) U.S. Government-sponsored enterprises obligations $ 1,979 $ — $ (90 ) $ 1,889 U.S. Government agency small business administration pools guaranteed by SBA 2,194 27 — 2,221 Collateralized mortgage obligations issued by the FHLMC and FNMA 1,330 7 (3 ) 1,334 Residential mortgage backed securities 10,732 45 (268 ) 10,509 Municipal bonds 36,343 1,457 (137 ) 37,663 $ 52,578 $ 1,536 $ (498 ) $ 53,616 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in thousands) U.S. Government-sponsored enterprises obligations $ 997 $ — $ (24 ) $ 973 U.S. Government agency small business administration pools guaranteed by SBA 2,399 71 — 2,470 Collateralized mortgage obligations issued by the FHLMC 938 11 — 949 Residential mortgage backed securities 5,100 49 (13 ) 5,136 Municipal bonds 44,005 1,944 (7 ) 45,942 $ 53,439 $ 2,075 $ (44 ) $ 55,470
Schedule of amortized cost and fair values of available-for-sale securities by contractual maturity	The amortized cost and fair values of available-for-sale securities at March 31, 2021 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (Dollars in thousands) March 31, 2021 Due after one year through five years $ — $ — Due after five years through ten years 2,316 2,236 Due after ten years 36,006 37,316 U.S. Government-sponsored enterprises obligations and municipal bonds $ 38,322 $ 39,552 U.S. Government agency small business pools guaranteed by SBA 2,194 2,221 Collateralized mortgage obligations issued by the FHLMC and FNMA 1,330 1,334 Residential mortgage backed securities 10,732 10,509 Total $ 52,578 $ 53,616
Summary of gross unrealized losses and fair value for those investments with unrealized losses	The following is a summary of gross unrealized losses and fair value for those investments with unrealized losses, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 2020: Less than 12 Months More than 12 Months Total Number of Securities Fair Value Unrealized Losses Number of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in thousands) March 31, 2021 U.S. Government sponsored enterprises obligations 3 $ 1,889 $ (90 ) — $ — $ — $ 1,889 $ (90 ) U.S. Government agency small business administration pools guaranteed by SBA — — — — — — — — Collateralized mortgage obligations issued by the FHLMC and FNMA 1 476 (3 ) — — — 476 (3 ) Residential mortgage backed securities 7 8,663 (268 ) — — — 8,663 (268 ) Municipal bonds 12 7,992 (130 ) 4 1,313 (7 ) 9,305 (137 ) 23 $ 19,020 $ (491 ) 4 $ 1,313 $ (7 ) $ 20,333 $ (498 ) December 31, 2020 U.S. Government sponsored enterprises obligations 2 $ 973 $ (24 ) — $ — $ — $ 973 $ (24 ) U.S. Government agency small business administration pools guaranteed by SBA — — — — — — — — Collateralized mortgage obligations issued by the FHLMC — — — — — — — — Residential mortgage backed securities 1 3,102 (13 ) — — — 3,102 (13 ) Municipal bonds 4 2,381 (7 ) — — — 2,381 (7 ) 7 $ 6,456 $ (44 ) — $ — $ — $ 6,456 $ (44 )
Summary of sales proceeds, principal payments received and gross realized gains and losses on available for sale securities	Proceeds from sales, maturities, principal payments received and gross realized gains and losses on available for sale securities were as follows for the three months ended: March 31, 2021 2020 (Dollars in thousands) Proceeds from sales, maturities and principal payments received on securities available-for-sale $ 9,746 $ 15,731 Gross realized gains 203 118 Gross realized losses — (4 ) Net realized gains $ 203 $ 114

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Loans consisted of the following at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (Dollars in thousands) Commercial real estate (CRE) $ 72,992 $ 66,166 Multifamily (MF) 5,965 6,619 Commercial and industrial (C+I) 42,251 45,262 Acquisition, development, and land (ADL) 31,674 23,145 1-4 family residential (RES) 209,798 213,718 Home equity line of credit (HELOC) 8,399 9,583 Consumer (CON) 2,783 2,944 Total loans 373,862 367,437 Net deferred loan costs 936 705 Allowance for loan losses (3,404 ) (3,342 ) Total loans, net $ 371,394 $ 364,800
Schedule Of Allowance For Loans And Leases Receivable Classification	Changes in the allowance for loan losses (“ALL”) for the three months ended March 31, 2021 and 2020 by portfolio segment are summarized as follows: (Dollars in thousands) CRE MF C+I ADL RES HELOC CON Unallocated Total Balance, December 31, 2020 $ 753 $ 60 $ 267 $ 174 $ 1,656 $ 78 $ 52 $ 302 $ 3,342 Provision for loan losses 160 (21 ) (62 ) 122 (97 ) (11 ) (3 ) (28 ) 60 Charge-offs — — — — — — — — — Recoveries — — 1 — — — 1 — 2 Balance, March 31, 2021 $ 913 $ 39 $ 206 $ 296 $ 1,559 $ 67 $ 50 $ 274 $ 3,404 Balance, December 31, 2019 $ 781 $ 23 $ 350 $ 145 $ 1,503 $ 52 $ 18 $ 3 $ 2,875 Provision for loan losses (4 ) 25 (63 ) (10 ) 140 27 2 (2 ) 115 Charge-offs — — — — — — — — — Recoveries 19 — — — — — — — 19 Balance, March 31, 2020 $ 796 $ 48 $ 287 $ 135 $ 1,643 $ 79 $ 20 $ 1 $ 3,009 As of March 31, 2021 and December 31, 2020, information about loans and the ALL by portfolio segment are summarized below: (Dollars in thousands) CRE MF C+I ADL RES HELOC CON Unallocated Total March 31, 2021 Loan Balances Individually evaluated for impairment $ 343 $ — $ 36 $ — $ 62 $ — $ — $ — $ 441 Collectively evaluated for impairment 72,649 5,965 42,215 31,674 209,736 8,399 2,783 — 373,421 Total $ 72,992 $ 5,965 $ 42,251 $ 31,674 $ 209,798 $ 8,399 $ 2,783 $ — $ 373,862 ALL related to the loans Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 913 39 206 296 1,559 67 50 274 3,404 Total $ 913 $ 39 $ 206 $ 296 $ 1,559 $ 67 $ 50 $ 274 $ 3,404 December 31, 2020 Loan Balances Individually evaluated for impairment $ 117 $ — $ 822 $ — $ 62 $ — $ — $ — $ 1,001 Collectively evaluated for impairment 66,049 6,619 44,440 23,145 213,656 9,583 2,944 — 366,436 Total $ 66,166 $ 6,619 $ 45,262 $ 23,145 $ 213,718 $ 9,583 $ 2,944 $ — $ 367,437 ALL related to the loans Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 753 60 267 174 1,656 78 52 302 3,342 Total $ 753 $ 60 $ 267 $ 174 $ 1,656 $ 78 $ 52 $ 302 $ 3,342
Past Due Financing Receivables	The following is an aged analysis of past due loans by portfolio segment as of March 31, 2021: (Dollars in thousands) 30-59 Days 60-89 Days 90 + Days Total Past Due Current Total Loans Non-Accrual Loans CRE $ — $ — $ — $ — $ 72,992 $ 72,992 $ — MF — — — — 5,965 5,965 — C+I — — — — 42,251 42,251 — ADL — — — — 31,674 31,674 — RES — — 62 62 209,736 209,798 62 HELOC 123 — — 123 8,276 8,399 — CON — — — — 2,783 2,783 — $ 123 $ — $ 62 $ 185 $ 373,677 $ 373,862 $ 62 The following is an aged analysis of past due loans by portfolio segment as of December 31, 2020: (Dollars in thousands) 30-59 Days 60-89 Days 90 + Days Total Past Due Current Total Loans Non-Accrual Loans CRE $ — $ — $ — $ — $ 66,166 $ 66,166 $ — MF — — — — 6,619 6,619 — C+I — — 822 822 44,440 45,262 822 ADL — — — — 23,145 23,145 — RES 42 — 62 104 213,614 213,718 62 HELOC 143 — — 143 9,440 9,583 — CON — — — — 2,944 2,944 — $ 185 $ — $ 884 $ 1,069 $ 366,368 $ 367,437 $ 884
Impaired Financing Receivables	The following table provides information on impaired loans as of March 31, 2021 and December 31, 2020: (Dollars in thousands) Recorded Carrying Value Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2021 With no related allowance recorded: CRE $ — $ — $ — $ — $ — MF — — — — — C+I — — — — — ADL — — — — — RES 62 62 — 62 — HELOC — — — — — CON — — — — — Total impaired loans $ 62 $ 62 $ — $ 62 $ — December 31, 2020 With no related allowance recorded: CRE $ — $ — $ — $ — $ — MF — — — — — C+I 822 938 — 909 — ADL — — — — — RES 62 62 — 64 5 HELOC — — — — — CON — — — — — Total impaired loans $ 884 $ 1,000 $ — $ 973 $ 5
Financing Receivable Credit Quality Indicators	The following presents the internal risk rating of loans by portfolio segment as of March 31, 2021: (Dollars in thousands) Pass Special Mention Substandard Total CRE $ 69,900 $ 2,749 $ 343 $ 72,992 MF 5,965 — — 5,965 C+I 41,063 1,152 36 42,251 ADL 31,674 — — 31,674 RES 209,736 — 62 209,798 HELOC 8,399 — — 8,399 CON 2,783 — — 2,783 Total $ 369,520 $ 3,901 $ 441 $ 373,862 The following presents the internal risk rating of loans by portfolio segment as of December 31, 2020: (Dollars in thousands) Pass Special Mention Substandard Total CRE $ 63,191 $ 2,858 $ 117 $ 66,166 MF 6,619 — — 6,619 C+I 41,021 4,083 158 45,262 ADL 23,145 — — 23,145 RES 213,656 — 62 213,718 HELOC 9,583 — — 9,583 CON 2,944 — — 2,944 Total $ 360,159 $ 6,941 $ 337 $ 367,437

Loan Servicing (Tables)

Loan Servicing (Tables)	3 Months Ended
	Mar. 31, 2021
Transfers And Servicing [Abstract]
Schedule of Servicing Assets at Fair Value	The following summarizes activity in mortgage servicing rights for the three months ended March 31, 2021 and 2020: (Dollars in thousands) 2021 2020 Balance, December 31, $ 273 $ 397 Additions 13 43 Payoffs (14 ) (26 ) Change in fair value due to change in assumptions 57 (72 ) Balance, March 31, $ 329 $ 342

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Deposit Liabilities	Deposits consisted of the following at March 31, 2021 and December 31, 2020: (Dollars in thousands) March 31, 2021 December 31, 2020 NOW and demand deposits $ 174,585 $ 161,336 Money market deposits 73,662 69,320 Savings deposits 52,415 48,057 Time deposits of $250,000 and greater 8,226 10,119 Time deposits less than $250,000 52,611 38,549 $ 361,499 $ 327,381
Maturities of Time Deposits	At March 31, 2021, the scheduled maturities of time deposits were as follows (in thousands): 2021 $ 43,438 2022 12,013 2023 2,123 2024 672 2025 1,645 2026 946 $ 60,837

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank	A summary of borrowings from the FHLB is as follows: March 31, 2021 Principal Amounts Maturity Dates Interest Rates (Dollars in thousands) $ 5,000 2021 0.37% – fixed 2,262 2022 0.00% – fixed 10,800 2024 0.00% to 1.39% – fixed 10,520 2025 0.00% to 1.35% – fixed 250 2028 0.00% – fixed 200 2030 0.00% – fixed $ 29,032 December 31, 2020 Principal Amounts Maturity Dates Interest Rates (Dollars in thousands) $ 10,095 2021 0.39% (fixed) to 0.42% (variable) 2,262 2022 0.00% – fixed 10,800 2024 0.00% to 1.39% – fixed 10,520 2025 0.00% to 1.35% – fixed 250 2028 0.00% – fixed 200 2030 0.00% – fixed $ 34,127

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Schedule of Company Compensation Expense for the ESOP	the Company records compensation expense for the ESOP equal to fair market value of shares when they are committed to be released from the suspense account to participants’ accounts under the plan. March 31, 2021 December 31, 2020 Shares held by the ESOP include the following: Allocated 23,848 11,924 Committed to be allocated 2,981 11,924 Unallocated 211,644 214,625 Total 238,473 238,473
Schedule of Funded Status Valuation Report Percentage	The funded status (fair value of plan assets divided by funding target) as of July 1, 2020 is as follows: 2020 Valuation Report 90.76 % (1)

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Of Other Comprehensive Income Loss [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The Company reports certain items as “other comprehensive income” (“OCI”) and reflects total comprehensive income in the consolidated financial statements for all periods containing elements of other comprehensive income. The following table presents a reconciliation of the changes in the components of other comprehensive income (loss) for the dates indicated, including the amount of income tax expense allocated to each component of other comprehensive income (loss): (Dollars in thousands) Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Affected Line Item in Statements of Income Gains on securities available for sale $ (203 ) $ (114 ) Securities (gains), net Tax effect 55 31 Income tax expense (148 ) (83 ) Net income Net amortization of premium on securities 140 48 Interest on debt securities Tax effect (38 ) (13 ) Income tax expense 102 35 Net income Net interest expense on swaps 5 — Interest expense on borrowings Tax effect (1 ) — Income tax expense 4 — Net income Total reclassification adjustments $ (42 ) $ (48 )
Summary of Changes in Component of OCI	The following tables present the changes in each component of OCI for the periods indicated: (Dollars in thousands) Net Unrealized Gains (Losses) on AFS Securities (1) Net Unrealized Gains (Losses) on Cash Flow Hedges (1) OCI (1) Balance at December 31, 2020 $ 1,481 $ (100 ) $ 1,381 Other comprehensive income (loss) before reclassification (678 ) 172 (506 ) Amounts reclassified from OCI (46 ) 4 (42 ) Other comprehensive income (loss) (724 ) 176 (548 ) Balance at March 31, 2021 $ 757 $ 76 $ 833 Balance at December 31, 2019 $ 521 $ — $ 521 Other comprehensive income before reclassification 253 — 253 Amounts reclassified from OCI (48 ) — (48 ) Other comprehensive income 205 — 205 Balance at March 31, 2020 $ 726 $ — $ 726 (1) All amounts are net of tax

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Of Regulatory Matters [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Minimum Capital Minimum Capital Required For Capital Adequacy Plus Capital Conservation Buffer Actual Requirement Fully Phased-In (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2021 Total Capital (to risk-weighted assets) $ 51,520 17.90 % $ 23,026 8.00 % $ 30,221 10.50 % Tier 1 Capital (to risk-weighted assets) 48,069 16.70 17,270 6.00 24,466 8.50 Tier 1 Capital (to average assets) 48,069 10.87 17,689 4.00 17,689 4.00 Common Equity Tier 1 (to risk-weighted assets) 48,069 16.70 12,953 4.50 20,149 7.00 Minimum Capital Minimum Capital Required For Capital Adequacy Plus Capital Conservation Buffer Actual Requirement Fully Phased-In (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio December 31, 2020 Total Capital (to risk-weighted assets) $ 50,612 17.92 % $ 22,593 8.00 % $ 29,653 10.50 % Tier 1 Capital (to risk-weighted assets) 47,222 16.72 16,945 6.00 24,005 8.50 Tier 1 Capital (to average assets) 47,222 10.59 17,836 4.00 17,836 4.00 Common Equity Tier 1 (to risk-weighted assets) 47,222 16.72 12,709 4.50 19,769 7.00

Common Stock Repurchases (Table

Common Stock Repurchases (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Repurchase of Common Stock	The Company’s repurchases of its common stock made during the quarter ended March 31, 2021 are set forth in the table below: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that may Yet Be Purchased Under the Plans or Programs January 1, 2021 - January 31, 2021 5,594 $ 8.95 5,594 105,809 February 1, 2021 - February 28, 2021 3,029 9.01 3,029 102,780 March 1, 2021 - March 31, 2021 15,634 9.87 15,634 87,146 Total 24,257 24,257

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of the Company's Derivatives Associated with its Interest Rate Risk Management Activities	The following table summarizes the Company’s derivatives associated with its interest rate risk management activities: March 31, 2021 (Dollars in thousands) Start Date Maturity Date Rate Notional Assets Liabilities Debt Hedging Hedging Instruments: Interest Rate Swap 2020 4/13/2020 4/13/2025 0.68% $ 5,000 $ 24 $ — Interest Rate Swap 2021 4/13/2021 4/13/2026 0.74% $ 5,000 $ 80 $ — Total Hedging Instruments $ 10,000 $ 104 $ — Hedged Items: Variability in cash flows related to 90-day FHLB advances N/A $ — $ 5,000
Summary of the Effect of Cash Flow Hedge Accounting	The following table summarizes the effect of cash flow hedge accounting on the consolidated statements of income for the three months ended March 31, 2021 and 2020: Location and Amount of Gain or Loss Recognized in Income on Cash Flow Hedging Relationships 2021 2020 (Dollars in thousands) Interest Income (Expense) Other Income (Expense) Interest Income (Expense) Other Income (Expense) The effects of cash flow hedging: Gain (loss) on cash flow hedging relationships: Amount reclassified from AOCI into income $ (5 ) $ — N/A N/A

Fair Values of Assets and Lia_2

Fair Values of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value, by Balance Sheet Grouping	The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Total Level 1 Level 2 Level 3 (Dollars in thousands) March 31, 2021 Securities available-for-sale: U.S. Government-sponsored enterprises obligations $ 1,889 $ — $ 1,889 $ — U.S Government agency small business administration pools guaranteed by the SBA 2,221 — 2,221 — Collateralized mortgage obligations issued by the FHLMC and FNMA 1,334 — 1,334 — Residential mortgage backed securities 10,509 — 10,509 — Municipal bonds 37,663 — 37,663 — Other assets: Mortgage servicing rights 329 — — 329 Derivatives 104 — 104 — Total Level 1 Level 2 Level 3 (Dollars in thousands) December 31, 2020 Securities available-for-sale: U.S. Government-sponsored enterprises obligations $ 973 $ — $ 973 $ — U.S Government agency small business administration pools guaranteed by the SBA 2,470 — 2,470 — Collateralized mortgage obligations issued by the FHLMC 949 — 949 — Residential mortgage backed securities 5,136 — 5,136 — Municipal bonds 45,942 — 45,942 — Other assets: Mortgage servicing rights 273 — — 273 Other Liabilities: Derivatives 137 — 137 —
Summary of Significant Unobservable Inputs used in Level 3 Assets Measured at Fair Value on Recurring Basis	For Level 3 assets measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: March 31, 2021 (Dollars in thousands) Valuation Technique Description Range Weighted Average (1) Fair Value Mortgage Servicing Rights Discounted Cash Flow Prepayment Rate 7.43% - 23.10% 15.00% $ 329 Discount Rate 9.00% - 9.00% 9.00% Delinquency Rate 3.81% - 4.79% 4.00% Default Rate 0.08% - 0.14% 0.13% December 31, 2020 (Dollars in thousands) Valuation Technique Description Range Weighted Average (1) Fair Value Mortgage Servicing Rights Discounted Cash Flow Prepayment Rate 14.05% - 29.77% 20.97% $ 273 Discount Rate 9.00% - 9.00% 9.00% Delinquency Rate 3.91% - 5.13% 4.12% Default Rate 0.08% - 0.14% 0.13% (1) Unobservable inputs for mortgage servicing rights were weighted by loan amount.
Fair Value Measurements, Recurring and Nonrecurring	The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments at March 31, 2021 and December 31, 2020 are as follows: (Dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets: Cash and due from banks $ 22,674 $ 22,674 $ 22,674 $ — $ — Interest-bearing time deposits with other banks 2,488 2,488 — 2,488 — Federal Home Loan Bank stock 1,868 1,868 — 1,868 — Bank-owned life insurance 4,376 4,376 — 4,376 — Loans, net 371,394 371,128 — — 371,128 Accrued interest receivable 1,351 1,351 1,351 — — Financial Liabilities: Deposits $ 361,499 $ 361,693 $ 300,662 $ 61,031 $ — Advances from Federal Home Loan Bank 29,032 29,570 — 29,570 — Advances from Federal Reserve Bank 9,438 9,441 — 9,441 — Mortgagors’ tax escrow 2,045 2,045 — 2,045 — December 31, 2020 Financial Assets: Cash and due from banks $ 5,996 $ 5,996 $ 5,996 $ — $ — Interest-bearing time deposits with other banks 2,488 2,488 — 2,488 — Federal Home Loan Bank stock 1,796 1,796 — 1,796 — Bank-owned life insurance 4,356 4,356 — 4,356 — Loans, net 364,800 365,116 — — 365,116 Accrued interest receivable 1,412 1,412 1,412 — — Financial Liabilities: Deposits $ 327,381 $ 327,696 $ 278,713 $ 48,983 $ — Advances from Federal Home Loan Bank 34,127 34,832 — 34,832 — Advances from Federal Reserve Bank 18,195 18,199 — 18,199 — Mortgagors’ tax escrow 1,420 1,420 — 1,420 —
Fair Value, Inputs, Level 3 [Member]
Summary of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	For the three months ended March 31, 2021 and 2020, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: (Dollars in thousands) Mortgage Servicing Rights (1) Balance as of January 1, 2021 $ 273 Included in net income 56 Balance as of March 31, 2021 $ 329 Total unrealized net gains (losses) included in net income related to assets still held as of March 31, 2021 $ — Balance as of January 1, 2020 $ 397 Included in net income (55 ) Balance as of March 31, 2020 $ 342 Total unrealized net gains (losses) included in net income related to assets still held as of March 31, 2020 $ — (1) Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of loan servicing income (loss) in the Company’s consolidated statements of income.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	1 Months Ended	3 Months Ended
	Jul. 17, 2019USD ($)shares	Mar. 31, 2021USD ($)Service$ / sharesshares	Dec. 31, 2020USD ($)shares
Accounting Policies [Abstract]
Stock issued during period, initial public offer		2,676,740
Repurchase of share ESOP	238,473
Employee stock ownership price per share | $ / shares		$ 10
Plan of reorganization, description of equity securities issued or to be issued		In addition, as part of the Reorganization, the Company issued 3,345,925 shares of common stock to First Seacoast Bancorp, MHC (the “MHC”), the Bank’s parent mutual holding company, and 60,835 shares of common stock and $150,000 in cash to First Seacoast Community Foundation, Inc. (the “Foundation”), a charitable foundation formed in connection with the reorganization and dedicated to supporting charitable organizations operating in the Bank’s local community. The Company’s common stock began trading on the NASDAQ Capital Market under the symbol “FSEA” on July 17, 2019. Pursuant to the Plan of Reorganization, the Bank adopted an employee stock ownership plan (“ESOP”), which purchased 238,473 shares of common stock in the stock offering with the proceeds of a loan from the Company.
Stock issued to mutual holding company as part of reorganization	3,345,925
Stock issued during period shares to charitable organisations	60,835
Cash transferred to charitable foundation as part of reorganization | $	$ 150,000
ESOP,unearned compensation, shares		238,473	238,473
Number of core services | Service		4
Assets under management | $		$ 61,000,000	$ 58,400,000
Emerging growth of company status		(i) the last day of the fiscal year of the Company during which it had total annual gross revenues of $1.07 billion (as adjusted for inflation) or more; (ii) the last day of the fiscal year of the Company following the fifth anniversary of the effective date of the Company’s initial public offering; (which will be December 31, 2024 for the Company) (iii) the date on which the Company has, during the previous three-year period, issued more than $1.0 billion in non-convertible debt; or (iv) the date on which the Company is deemed to be a “large accelerated filer” under Securities and Exchange Commission regulations (generally, at least $700 million of voting and non-voting equity held by non-affiliates).

Cash and Due From Banks (Additi

Cash and Due From Banks (Additional Information) (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Cash And Due From Banks [Abstract]
Cash and due from banks	$ 22,674	$ 5,996
Cash collateral from counterparties	$ 525,000	$ 525,000

Securities Available-for-Sale -

Securities Available-for-Sale - Schedule of amortized cost and fair value of securities available-for-sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Amortized Cost	$ 52,578	$ 53,439
Gross Unrealized Gains	1,536	2,075
Gross Unrealized Losses	(498)	(44)
Fair Values	53,616	55,470
U.S. Government-sponsored enterprises obligations [Member]
Amortized Cost	1,979	997
Gross Unrealized Losses	(90)	(24)
Fair Values	1,889	973
U.S. Government agency small business administration pools guaranteed by SBA [Member]
Amortized Cost	2,194	2,399
Gross Unrealized Gains	27	71
Fair Values	2,221	2,470
Collateralized mortgage obligations issued by the FHLMC and FNMA [Member]
Amortized Cost	1,330	938
Gross Unrealized Gains	7	11
Gross Unrealized Losses	(3)
Fair Values	1,334	949
Residential mortgage backed securities [Member]
Amortized Cost	10,732	5,100
Gross Unrealized Gains	45	49
Gross Unrealized Losses	(268)	(13)
Fair Values	10,509	5,136
Municipal bonds [Member]
Amortized Cost	36,343	44,005
Gross Unrealized Gains	1,457	1,944
Gross Unrealized Losses	(137)	(7)
Fair Values	$ 37,663	$ 45,942

Securities Available-for-Sale_2

Securities Available-for-Sale - Schedule of amortized cost and fair values of available-for-sale securities by contractual maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Due after five years through ten years, Amortized Cost	$ 2,316
Due after ten years, Amortized Cost	36,006
U.S. Government-sponsored enterprises obligations and municipal bonds, Amortized Cost	38,322
Mortgage-backed securities, Amortized Cost	52,578	$ 53,439
Due after five years through ten years, Fair Value	2,236
Due after ten years, Fair Value	37,316
U.S. Government-sponsored enterprises obligations and municipal bonds, Fair Value	39,552
Mortgage-backed securities, Fair Value	53,616	55,470
U.S. Government agency small business pools guaranteed by SBA [Member]
Mortgage-backed securities, Amortized Cost	2,194	2,399
Mortgage-backed securities, Fair Value	2,221	2,470
Collateralized mortgage obligations issued by the FHLMC and FNMA [Member]
Mortgage-backed securities, Amortized Cost	1,330	938
Mortgage-backed securities, Fair Value	1,334	949
Residential mortgage-backed securities
Mortgage-backed securities, Amortized Cost	10,732	5,100
Mortgage-backed securities, Fair Value	$ 10,509	$ 5,136

Securities Available-for-Sale_3

Securities Available-for-Sale - Summary of gross unrealized losses and fair value for those investments with unrealized losses (Detail) $ in Thousands	Mar. 31, 2021USD ($)Number	Dec. 31, 2020USD ($)Number
Less than 12 Months, Number of Securities | Number	23	7
Less than 12 Months, Fair Value	$ 19,020	$ 6,456
Less than 12 Months, Unrealized Losses	$ (491)	(44)
More than 12 Months, Number of Securities | Number	4
More than 12 Months, Fair Value	$ 1,313
More than 12 Months, Unrealized Losses	(7)
Total, Fair Value	20,333	6,456
Total, Unrealized Losses	$ (498)	$ (44)
U.S. Government-sponsored enterprises obligations [Member]
Less than 12 Months, Number of Securities | Number	3	2
Less than 12 Months, Fair Value	$ 1,889	$ 973
Less than 12 Months, Unrealized Losses	(90)	(24)
Total, Fair Value	1,889	973
Total, Unrealized Losses	$ (90)	$ (24)
Collateralized mortgage obligations issued by the FHLMC and FNMA [Member]
Less than 12 Months, Number of Securities | Number	1
Less than 12 Months, Fair Value	$ 476
Less than 12 Months, Unrealized Losses	(3)
Total, Fair Value	476
Total, Unrealized Losses	$ (3)
Residential mortgage backed securities [Member]
Less than 12 Months, Number of Securities | Number	7	1
Less than 12 Months, Fair Value	$ 8,663	$ 3,102
Less than 12 Months, Unrealized Losses	(268)	(13)
Total, Fair Value	8,663	3,102
Total, Unrealized Losses	$ (268)	$ (13)
Municipal bonds [Member]
Less than 12 Months, Number of Securities | Number	12	4
Less than 12 Months, Fair Value	$ 7,992	$ 2,381
Less than 12 Months, Unrealized Losses	$ (130)	(7)
More than 12 Months, Number of Securities | Number	4
More than 12 Months, Fair Value	$ 1,313
More than 12 Months, Unrealized Losses	(7)
Total, Fair Value	9,305	2,381
Total, Unrealized Losses	$ (137)	$ (7)

Securities Available-for-Sale_4

Securities Available-for-Sale - Summary of sales proceeds, principal payments received and gross realized gains and losses on available for sale securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Available For Sale Securities [Abstract]
Proceeds from sales, maturities and principal payments received from securities available-for-sale	$ 9,746	$ 15,731
Gross realized gains	203	118
Gross realized losses		(4)
Net realized gains	$ 203	$ 114

Securities Available-for-Sale_5

Securities Available-for-Sale - Additional Information (Detail) - Security	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Available For Sale Securities [Abstract]
Number of holdings more than ten percentage of fair value of securities issued by single issuer	0	0

Loans - Additional Information

Loans - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)NumberLoan	Dec. 31, 2020USD ($)Number	Mar. 27, 2020USD ($)
Loans outstanding	$ 5,200,000	$ 5,300,000
Short Term Loan Modification Program [Member]
Temporary payment relief provided for number of loans | Loan	4
Aggregate outstanding principal balance provided for temporary payment relief	$ 3,200,000
Number of loans restructured regulatory | Loan	0
Short Term Loan Modification Program [Member] | Commercial Loan [Member]
Temporary payment relief provided for number of loans | Loan	1
Aggregate outstanding principal balance provided for temporary payment relief	$ 2,700,000
Short Term Loan Modification Program [Member] | Residential Mortgage [Member]
Temporary payment relief provided for number of loans | Loan	3
Aggregate outstanding principal balance provided for temporary payment relief	$ 446,000
Residential Real Estate [Member]
Loans collateralized by real estate	$ 0	$ 0
Paycheck Protection Program [Member]
CARES Act number of guaranteed loans | Number	113	286
CARES Act aggregate guaranteed outstanding loans	$ 11,900,000	$ 33,000,000
CARES Act amount of relief package	900,000,000,000
CARES Act amount of additional loan	286,000,000,000
Paycheck Protection Program [Member] | Commercial and Industrial Loans [Member]
CARES Act aggregate guaranteed outstanding loans	$ 23,000,000	$ 21,200,000	$ 350,000,000,000

Loans - Schedule of Accounts, N

Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Total loans	$ 373,862	$ 367,437	$ 373,862	$ 367,437
Net deferred loan costs	936	705
Allowance for loan losses	(3,404)	(3,342)	(3,009)	(2,875)
Net loans	371,394	364,800
CRE [Member]
Total loans	72,992	66,166	72,992	66,166
Allowance for loan losses	(913)	(753)	(796)	(781)
MF [Member]
Total loans	5,965	6,619	5,965	6,619
Allowance for loan losses	(39)	(60)	(48)	(23)
C+I [Member]
Total loans	42,251	45,262	42,251	45,262
Allowance for loan losses	(206)	(267)	(287)	(350)
ADL [Member]
Total loans	31,674	23,145	31,674	23,145
Allowance for loan losses	(296)	(174)	(135)	(145)
RES [Member]
Total loans	209,798	213,718	209,798	213,718
Allowance for loan losses	(1,559)	(1,656)	(1,643)	(1,503)
HELOC [Member]
Total loans	8,399	9,583	8,399	9,583
Allowance for loan losses	(67)	(78)	(79)	(52)
CON [Member]
Total loans	2,783	2,944	2,783	2,944
Allowance for loan losses	$ (50)	$ (52)	$ (20)	$ (18)

Loans - Transactions In The All

Loans - Transactions In The Allowance For Loan Losses ("ALL") (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Balance	$ 3,342	$ 2,875
Provision for loan losses	60	115
Recoveries	2	19
Balance	3,404	3,009
CRE [Member]
Balance	753	781
Provision for loan losses	160	(4)
Recoveries		19
Balance	913	796
MF [Member]
Balance	60	23
Provision for loan losses	(21)	25
Balance	39	48
C+I [Member]
Balance	267	350
Provision for loan losses	(62)	(63)
Recoveries	1
Balance	206	287
ADL [Member]
Balance	174	145
Provision for loan losses	122	(10)
Balance	296	135
RES [Member]
Balance	1,656	1,503
Provision for loan losses	(97)	140
Balance	1,559	1,643
HELOC [Member]
Balance	78	52
Provision for loan losses	(11)	27
Balance	67	79
CON [Member]
Balance	52	18
Provision for loan losses	(3)	2
Recoveries	1
Balance	50	20
Unallocated [Member]
Balance	302	3
Provision for loan losses	(28)	(2)
Balance	$ 274	$ 1

Loans - Information About Loans

Loans - Information About Loans And The ALL By Portfolio Segment Are Summarized (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Individually evaluated for impairment	$ 441	$ 1,001
Collectively evaluated for impairment	373,421	366,436
Total	373,862	367,437	$ 373,862	$ 367,437
Collectively evaluated for impairment	3,404	3,342
Total	3,404	3,342	3,009	2,875
CRE [Member]
Individually evaluated for impairment	343	117
Collectively evaluated for impairment	72,649	66,049
Total	72,992	66,166	72,992	66,166
Collectively evaluated for impairment	913	753
Total	913	753	796	781
MF [Member]
Collectively evaluated for impairment	5,965	6,619
Total	5,965	6,619	5,965	6,619
Collectively evaluated for impairment	39	60
Total	39	60	48	23
C+I [Member]
Individually evaluated for impairment	36	822
Collectively evaluated for impairment	42,215	44,440
Total	42,251	45,262	42,251	45,262
Collectively evaluated for impairment	206	267
Total	206	267	287	350
ADL [Member]
Collectively evaluated for impairment	31,674	23,145
Total	31,674	23,145	31,674	23,145
Collectively evaluated for impairment	296	174
Total	296	174	135	145
RES [Member]
Individually evaluated for impairment	62	62
Collectively evaluated for impairment	209,736	213,656
Total	209,798	213,718	209,798	213,718
Collectively evaluated for impairment	1,559	1,656
Total	1,559	1,656	1,643	1,503
HELOC [Member]
Collectively evaluated for impairment	8,399	9,583
Total	8,399	9,583	8,399	9,583
Collectively evaluated for impairment	67	78
Total	67	78	79	52
CON [Member]
Collectively evaluated for impairment	2,783	2,944
Total	2,783	2,944	2,783	2,944
Collectively evaluated for impairment	50	52
Total	50	52	20	18
Unallocated [Member]
Collectively evaluated for impairment	274	302
Total	$ 274	$ 302	$ 1	$ 3

Loans - Analysis Of Past Due Lo

Loans - Analysis Of Past Due Loans By Portfolio Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Total Past Due	$ 185	$ 1,069
Current	373,677	366,368
Total	373,862	367,437	$ 373,862	$ 367,437
Non-Accrual Loans	62	884
CRE [Member]
Current	72,992	66,166
Total	72,992	66,166	72,992	66,166
MF [Member]
Current	5,965	6,619
Total	5,965	6,619	5,965	6,619
C+I [Member]
Total Past Due		822
Current	42,251	44,440
Total	42,251	45,262	42,251	45,262
Non-Accrual Loans		822
ADL [Member]
Current	31,674	23,145
Total	31,674	23,145	31,674	23,145
RES [Member]
Total Past Due	62	104
Current	209,736	213,614
Total	209,798	213,718	209,798	213,718
Non-Accrual Loans	62	62
HELOC [Member]
Total Past Due	123	143
Current	8,276	9,440
Total	8,399	9,583	8,399	9,583
CON [Member]
Current	2,783	2,944
Total	2,783	2,944	$ 2,783	$ 2,944
30-59 Days Past Due [Member]
Total Past Due	123	185
30-59 Days Past Due [Member] | RES [Member]
Total Past Due		42
30-59 Days Past Due [Member] | HELOC [Member]
Total Past Due	123	143
Greater than 90 Days [Member]
Total Past Due	62	884
Greater than 90 Days [Member] | C+I [Member]
Total Past Due		822
Greater than 90 Days [Member] | RES [Member]
Total Past Due	$ 62	$ 62

Loans - Provides Information On

Loans - Provides Information On Impaired Loans (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Recorded Carrying Value	$ 62	$ 884
Unpaid Principal Balance	62	1,000
Average Recorded Investment	62	973
Interest Income Recognized		5
C+I [Member]
Recorded Carrying Value		822
Unpaid Principal Balance		938
Average Recorded Investment		909
RES [Member]
Recorded Carrying Value	62	62
Unpaid Principal Balance	62	62
Average Recorded Investment	$ 62	64
Interest Income Recognized		$ 5

Loans - Internal Risk Rating Of

Loans - Internal Risk Rating Of Loans By Portfolio Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Total Loans	$ 373,862	$ 367,437	$ 373,862	$ 367,437
CRE [Member]
Total Loans	72,992	66,166	72,992	66,166
MF [Member]
Total Loans	5,965	6,619	5,965	6,619
C+I [Member]
Total Loans	42,251	45,262	42,251	45,262
ADL [Member]
Total Loans	31,674	23,145	31,674	23,145
RES [Member]
Total Loans	209,798	213,718	209,798	213,718
HELOC [Member]
Total Loans	8,399	9,583	8,399	9,583
CON [Member]
Total Loans	$ 2,783	$ 2,944	2,783	2,944
Pass [Member]
Total Loans			369,520	360,159
Pass [Member] | CRE [Member]
Total Loans			69,900	63,191
Pass [Member] | MF [Member]
Total Loans			5,965	6,619
Pass [Member] | C+I [Member]
Total Loans			41,063	41,021
Pass [Member] | ADL [Member]
Total Loans			31,674	23,145
Pass [Member] | RES [Member]
Total Loans			209,736	213,656
Pass [Member] | HELOC [Member]
Total Loans			8,399	9,583
Pass [Member] | CON [Member]
Total Loans			2,783	2,944
Special Mention [Member]
Total Loans			3,901	6,941
Special Mention [Member] | CRE [Member]
Total Loans			2,749	2,858
Special Mention [Member] | C+I [Member]
Total Loans			1,152	4,083
Substandard [Member]
Total Loans			441	337
Substandard [Member] | CRE [Member]
Total Loans			343	117
Substandard [Member] | C+I [Member]
Total Loans			36	158
Substandard [Member] | RES [Member]
Total Loans			$ 62	$ 62

Loan Servicing - Additional Inf

Loan Servicing - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Transfers And Servicing [Abstract]
Transferred Financial Assets Principal Amount Outstanding	$ 43,800		$ 45,800
Loan servicing income (loss)	$ 83	$ (25)

Loan Servicing - Summary Of Act

Loan Servicing - Summary Of Activity In Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Transfers And Servicing [Abstract]
Balance, beginning of year	$ 273	$ 397
Additions	13	43
Payoffs	(14)	(26)
Change in fair value due to change in assumptions	57	(72)
Balance, end of year	$ 329	$ 342

Deposits - Deposit Liabilities

Deposits - Deposit Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
NOW and demand deposits	$ 174,585	$ 161,336
Money market deposits	73,662	69,320
Savings deposits	52,415	48,057
Time deposits of $250,000 and greater	8,226	10,119
Time deposits less than $250,000	52,611	38,549
Total deposits	$ 361,499	$ 327,381

Deposits - Time Deposit Maturit

Deposits - Time Deposit Maturities (Detail) $ in Thousands	Mar. 31, 2021USD ($)
Deposits [Abstract]
2021	$ 43,438
2022	12,013
2023	2,123
2024	672
2025	1,645
2026	946
Total	$ 60,837

Deposits - Additional informati

Deposits - Additional information (Detail) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Time Deposits [Member]
Brokered deposits	$ 15,000,000	$ 0

Borrowings - Schedule of Federa

Borrowings - Schedule of Federal Home Loan Bank Advances by Branch of FHLB Bank (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Principal Amounts	$ 29,032	$ 34,127
Federal Home Loan Bank Advances One [Member]
Principal Amounts	$ 5,000	$ 10,095
Maturity Dates	2021	2021
Interest Rates	0.37%
Federal Home Loan Bank Advances One [Member] | Minimum [Member]
Interest Rates		0.39%
Federal Home Loan Bank Advances One [Member] | Maximum [Member]
Interest Rates		0.42%
Federal Home Loan Bank Advances Two [Member]
Principal Amounts	$ 2,262	$ 2,262
Maturity Dates	2022	2022
Interest Rates	0.00%	0.00%
Federal Home Loan Bank Advances Three [Member]
Principal Amounts	$ 10,800	$ 10,800
Maturity Dates	2024	2024
Federal Home Loan Bank Advances Three [Member] | Minimum [Member]
Interest Rates	0.00%	0.00%
Federal Home Loan Bank Advances Three [Member] | Maximum [Member]
Interest Rates	1.39%	1.39%
Federal Home Loan Bank Advances Four [Member]
Principal Amounts	$ 10,520	$ 10,520
Maturity Dates	2025	2025
Federal Home Loan Bank Advances Four [Member] | Minimum [Member]
Interest Rates	0.00%	0.00%
Federal Home Loan Bank Advances Four [Member] | Maximum [Member]
Interest Rates	1.35%	1.35%
Federal Home Loan Bank Advances Five [Member]
Principal Amounts	$ 250	$ 250
Maturity Dates	2028	2028
Interest Rates	0.00%	0.00%
Federal Home Loan Bank Advances Six [Member]
Principal Amounts	$ 200	$ 200
Maturity Dates	2030	2030
Interest Rates	0.00%	0.00%

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2021
Banks unused remaining borrowing capacity	$ 103,200	$ 112,600
Advances through FLHB	29,032	34,127
Federal home loan bank maximum borrowing capacity	3,000
Fed Funds borrowing [Member]
Fed funds borrowing capacity	5,000
Paycheck Protection Program Liquidity Facility [Member]
CARES Act loan advances	9,400		$ 18,200
Maturity June 5, 2021 Callable Quarterly [Member]
Longterm Federal Home Loan Bank Advances Noncurrent	$ 10,000	$ 10,000
Interest rate	1.39%	1.39%
Federal home loan bank, advances, callable maturity date	Jun. 5, 2021	Jun. 5, 2021
Maturity May 10, 2021 Callable Quarterly [Member]
Longterm Federal Home Loan Bank Advances Noncurrent	$ 10,000	$ 10,000
Interest rate	1.35%	1.35%
Federal home loan bank, advances, callable maturity date	May 10, 2021	May 10, 2021
New England Program [Member]
Interest rate	0.00%	0.00%
Advances through FLHB	$ 4,000	$ 4,000

Employee Benefits - Additional

Employee Benefits - Additional information (Detail) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 17, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Number of shares committed to be released each year,ESOP		2,981	2,981		11,924
Stock Repurchase	238,473
Employee stock option unallocated shares fair value		$ 2,100,000			$ 1,900,000
Defined Benefit Plan, Plan Assets, Contributions by Employer		50,000	$ 50,000
Deferred Compensation Liability, Current and Noncurrent		1,581,000			1,667,000
Scenario Forecast [Member]
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant				$ 360,000
Pentegra DB Plan [Member]
Pension Cost (Reversal of Cost)		90,000	99,000
Salary Continuation Plan [Member] | Supplemental Employee Retirement Plan [Member]
Liability, Defined Benefit Plan		$ 615,000			607,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		5.00%
Employee Salary Incremental Percent		3.00%
Defined Contribution Plan, Cost		$ 21,000	25,000
Executive Supplemental Retirement Plan [Member] | Supplemental Employee Retirement Plan [Member]
Liability, Defined Benefit Plan		$ 85,000			$ 132,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		6.25%			6.25%
Defined Contribution Plan, Cost		$ 1,000	2,000
Endorsement Method Split Dollar Plan [Member] | Supplemental Employee Retirement Plan [Member]
Pension Cost (Reversal of Cost)		0	0
Liability, Defined Benefit Plan		34,000			$ 34,000
Deferred Directors Supplemental Retirement Plan [Member] | Supplemental Employee Retirement Plan [Member]
Pension Cost (Reversal of Cost)		17,000	10,000
Liability, Defined Benefit Plan		$ 516,000			$ 573,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		6.25%			6.25%
Deferred Compensation Liability, Current and Noncurrent		$ 332,000			$ 321,000
First Seacoast Bank Employee Stock Ownership Plan [Member]
Number of shares committed to be released each year,ESOP		11,924
Employee stock option compensation recognized		$ 28,000	$ 26,000
Employee stock option plan [Member]
Stock Repurchase		238,473
Remaining loan maturity date		Dec. 31, 2038
Percentage of Purchase price common stock		100.00%
Remaining Principal Balance of Debt		$ 2,200,000			$ 2,200,000

Employee Benefits - Schedule of

Employee Benefits - Schedule of Company Compensation Expense for the ESOP (Detail) - shares	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Employee Stock Ownership Plan E S O P Shares In E S O P [Abstract]
Allocated	23,848	11,924
Committed to be allocated	2,981	11,924	2,981
Unallocated	211,644	214,625
Total	238,473	238,473

Employee Benefits - Fair Value

Employee Benefits - Fair Value of Plan Assets Divided by Funding Target (Detail)	Jul. 01, 2020
Pension Plan [Member]
Percentage of funding status	90.76%	[1]
[1]	Fair value of plan assets reflects any contributions received through June 30, 2020.

Other Comprehensive Income - Sc

Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disclosure Of Other Comprehensive Income Loss [Abstract]
Gains on securities available for sale	$ (203)	$ (114)
Tax effect	55	31
Net income (loss)	(148)	(83)
Net amortization of premium on securities	140	48
Tax effect	(38)	(13)
Net income (loss)	102	35
Net interest expense on swaps	5
Tax effect	(1)
Net income (loss)	(4)
Total reclassification adjustments	$ 42	$ 48

Other Comprehensive Income - Su

Other Comprehensive Income - Summary of Changes in Component of OCI (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Balance at the beginning of the period		$ 1,381	$ 521
Other comprehensive income (loss) before reclassification		(506)	253
Amounts reclassified from OCI		(42)	(48)
Other comprehensive income (loss)		(548)	205
Balance at the end of the period		833	726
Net Unrealized Gains (Losses) on AFS Securities [Member]
Balance at the beginning of the period	[1]	1,481	521
Other comprehensive income (loss) before reclassification	[1]	(678)	253
Amounts reclassified from OCI	[1]	(46)	(48)
Other comprehensive income (loss)	[1]	(724)	205
Balance at the end of the period	[1]	757	$ 726
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Balance at the beginning of the period	[1]	(100)
Other comprehensive income (loss) before reclassification	[1]	172
Amounts reclassified from OCI	[1]	4
Other comprehensive income (loss)	[1]	176
Balance at the end of the period	[1]	$ 76
[1]	All amounts are net of tax

Regulatory Matters - Schedule o

Regulatory Matters - Schedule of Regulatory Capital Requirements (Detail) $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Actual, Total Capital (to risk- weighted assets)	$ 51,520	$ 50,612
Actual, Tier 1 Capital (to risk- weighted assets)	48,069	47,222
Actual, Tier 1 Capital (to average assets)	48,069	47,222
Actual, Common Equity Tier 1 (to risk-weighted assets)	$ 48,069	$ 47,222
Actual Ratio, Total Capital (to risk- weighted assets)	0.1790	0.1792
Actual Ratio, Tier 1 Capital (to risk- weighted assets)	0.1670	0.1672
Actual Ratio, Tier 1 Capital (to average assets)	0.1087	0.1059
Actual Ratio, Common Equity Tier 1 (to risk-weighted assets)	0.1670	0.1672
Minimum Capital Requirement, Total Capital (to risk-weighted assets)	$ 23,026	$ 22,593
Minimum Capital Requirement, Tier 1 Capital (to risk-weighted assets)	17,270	16,945
Minimum Capital Requirement, Tier 1 Capital (to average assets)	17,689	17,836
Minimum Capital Requirement, Common Equity Tier 1 (to risk-weighted assets)	$ 12,953	$ 12,709
Minimum Capital Requirement Ratio, Total Capital (to risk-weighted assets)	0.0800	0.0800
Minimum Capital Requirement Ratio, Tier 1 Capital (to risk-weighted assets)	0.0600	0.0600
Minimum Capital Requirement Ratio, Tier 1 Capital (to average assets)	0.0400	0.0400
Minimum Capital Requirement Ratio, Common Equity Tier 1 (to risk-weighted assets)	4.50%	4.50%
Fully Phased In [Member]
Minimum Capital Requirement, Total Capital (to risk-weighted assets)	$ 30,221	$ 29,653
Minimum Capital Requirement, Tier 1 Capital (to risk-weighted assets)	24,466	24,005
Minimum Capital Requirement, Tier 1 Capital (to average assets)	17,689	17,836
Minimum Capital Requirement, Common Equity Tier 1 (to risk-weighted assets)	$ 20,149	$ 19,769
Minimum Capital Requirement Ratio, Total Capital (to risk-weighted assets)	0.1050	0.1050
Minimum Capital Requirement Ratio, Tier 1 Capital (to risk-weighted assets)	0.0850	0.0850
Minimum Capital Requirement Ratio, Tier 1 Capital (to average assets)	0.0400	0.0400
Minimum Capital Requirement Ratio, Common Equity Tier 1 (to risk-weighted assets)	7.00%	7.00%

Common Stock Repurchases (Addit

Common Stock Repurchases (Additional Information) (Detail) - shares	Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Sep. 23, 2020
Equity Class Of Treasury Stock [Line Items]
Number of shares authorized for repurchase	87,146	102,780	105,809
Common Stock [Member]
Equity Class Of Treasury Stock [Line Items]
Percentage of repurchase of Common Stock				2.30%
Equity method investment ownership percentage				5.00%
Number of shares authorized for repurchase	49,733
Common Stock [Member] | Maximum [Member]
Equity Class Of Treasury Stock [Line Items]
Number of shares authorized for repurchase				136,879

Common Stock Repurchases - Sche

Common Stock Repurchases - Schedule of repurchases of common stock (Details) - $ / shares	1 Months Ended			3 Months Ended
	Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Mar. 31, 2021
Equity [Abstract]
Total Number of Shares Purchased	15,634	3,029	5,594	24,257
Average Price Paid per Share	$ 9.87	$ 9.01	$ 8.95
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	15,634	3,029	5,594	24,257
Maximum Number of Shares that may Yet Be Purchased Under the Plans or Programs	87,146	102,780	105,809	87,146

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Additional Information (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)Derivative	Dec. 31, 2020USD ($)
Derivatives Fair Value [Line Items]
Interest rate swaps	$ 241
Cash collateral from counterparties	525,000	$ 525,000
Interest Expense [Member]
Derivatives Fair Value [Line Items]
Interest rate swaps	25,000
Designated as Hedging Instrument | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Notional	10,000	10,000
Interest rate swaps	241,000
Liabilities		137
Designated as Hedging Instrument | Interest Rate Swap [Member] | Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Interest rate swap derivative liability	104,000	137,000
Designated as Hedging Instrument | Interest Rate Swap 2020 [Member]
Derivatives Fair Value [Line Items]
Notional	$ 5,000	$ 5,000
Start Date	Apr. 13, 2020	Apr. 13, 2020
Liabilities		$ 68
Designated as Hedging Instrument | Interest Rate Swap 2021 [Member]
Derivatives Fair Value [Line Items]
Notional	$ 5,000	$ 5,000
Start Date	Apr. 13, 2021	Apr. 13, 2021
Liabilities		$ 69
Cash Flow Hedges on 90-day Advances from FHLB [Member]
Derivatives Fair Value [Line Items]
Liabilities	$ 5,000	$ 5,000
Cash Flow Hedges on 90-day Advances from FHLB [Member] | Designated as Hedging Instrument | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Number of notional interest rate swaps | Derivative	2
Cash Flow Hedges on 90-day Advances from FHLB [Member] | Designated as Hedging Instrument | Interest Rate Swap 2020 [Member]
Derivatives Fair Value [Line Items]
Notional	$ 5,000
Cash Flow Hedges on 90-day Advances from FHLB [Member] | Designated as Hedging Instrument | Interest Rate Swap 2021 [Member]
Derivatives Fair Value [Line Items]
Notional	$ 5,000
Start Date	Apr. 13, 2021
Balance Sheet Hedging
Derivatives Fair Value [Line Items]
Liabilities	$ 5,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Summary of the Company's Derivatives Associated with its Interest Rate Risk Management Activities (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Cash Flow Hedges on 90-day Advances from FHLB [Member]
Derivatives Fair Value [Line Items]
Liabilities	$ 5,000	$ 5,000
Designated as Hedging Instrument | Interest Rate Swap 2020 [Member]
Derivatives Fair Value [Line Items]
Start Date	Apr. 13, 2020	Apr. 13, 2020
Maturity Date	Apr. 13, 2025	Apr. 13, 2025
Rate	0.68%	0.68%
Notional	$ 5,000	$ 5,000
Assets	24
Liabilities		$ 68
Designated as Hedging Instrument | Interest Rate Swap 2020 [Member] | Cash Flow Hedges on 90-day Advances from FHLB [Member]
Derivatives Fair Value [Line Items]
Notional	$ 5,000
Designated as Hedging Instrument | Interest Rate Swap 2021 [Member]
Derivatives Fair Value [Line Items]
Start Date	Apr. 13, 2021	Apr. 13, 2021
Maturity Date	Apr. 13, 2026	Apr. 13, 2026
Rate	0.74%	0.74%
Notional	$ 5,000	$ 5,000
Assets	$ 80
Liabilities		69
Designated as Hedging Instrument | Interest Rate Swap 2021 [Member] | Cash Flow Hedges on 90-day Advances from FHLB [Member]
Derivatives Fair Value [Line Items]
Start Date	Apr. 13, 2021
Notional	$ 5,000
Designated as Hedging Instrument | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Notional	10,000	10,000
Assets	$ 104
Liabilities		$ 137

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Summary of the Effect of Cash Flow Hedge Accounting (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivatives Fair Value [Line Items]
Location and Amount of Gain or Loss Recognized in Income on Cash Flow Hedging Relationships	$ 265	$ 790
Amount Reclassified from AOCI into Income
Derivatives Fair Value [Line Items]
Location and Amount of Gain or Loss Recognized in Income on Cash Flow Hedging Relationships	$ (5)

Fair Values of Assets and Lia_3

Fair Values of Assets and Liabilities - Fair Value, by Balance Sheet Grouping (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Securities available-for-sale:
Securities available-for-sale, at fair value	$ 53,616	$ 55,470
U.S. Government-sponsored enterprises obligations [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	1,889	973
U.S. Government agency small business administration pools guaranteed by SBA [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	2,221	2,470
Collateralized mortgage obligations issued by the FHLMC and FNMA [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	1,334	949
Residential mortgage backed securities [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	10,509	5,136
Municipal bonds [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	37,663	45,942
Fair Value, Measurements, Recurring [Member] | U.S. Government-sponsored enterprises obligations [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	1,889	973
Fair Value, Measurements, Recurring [Member] | U.S. Government agency small business administration pools guaranteed by SBA [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	2,221	2,470
Fair Value, Measurements, Recurring [Member] | Collateralized mortgage obligations issued by the FHLMC and FNMA [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	1,334	949
Fair Value, Measurements, Recurring [Member] | Residential mortgage backed securities [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	10,509	5,136
Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	37,663	45,942
Fair Value, Measurements, Recurring [Member] | Derivative [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	104
Other Liabilities:
Liabilities, Fair Value Disclosure		137
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government-sponsored enterprises obligations [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	1,889	973
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government agency small business administration pools guaranteed by SBA [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	2,221	2,470
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized mortgage obligations issued by the FHLMC and FNMA [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	1,334	949
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential mortgage backed securities [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	10,509	5,136
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal bonds [Member]
Securities available-for-sale:
Securities available-for-sale, at fair value	37,663	45,942
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Derivative [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	104
Other Liabilities:
Liabilities, Fair Value Disclosure		137
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	329	273
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	$ 329	$ 273

Fair Values of Assets and Lia_4

Fair Values of Assets and Liabilities - Summary of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Recurring [Member] - Mortgage-backed securities [Member] - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Beginning Balance	[1]	$ 273	$ 397
Included in net income	[1]	56	(55)
Ending Balance	[1]	$ 329	$ 342
[1]	Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of loan servicing income (loss) in the Company’s consolidated statements of income.

Fair Values of Assets and Lia_5

Fair Values of Assets and Liabilities - Summary of Significant Unobservable Inputs used in Level 3 Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Recurring [Member] $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Mortgage-backed securities [Member]
Mortgage Servicing Rights	[1]	$ 329	$ 273	$ 342	$ 397
Prepayment Rate [Member] | Mortgage-backed securities [Member]
Servicing Asset, Valuation Technique [Extensible List]		us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Mortgage Servicing Rights		$ 329	$ 273
Prepayment Rate [Member] | Minimum [Member]
Mortgage Servicing Rights, Measuring Inputs		7.43	14.05
Prepayment Rate [Member] | Maximum [Member]
Mortgage Servicing Rights, Measuring Inputs		23.10	29.77
Prepayment Rate [Member] | Weighted Average [Member]
Mortgage Servicing Rights, Measuring Inputs	[2]	15	20.97
Mortgage Servicing Rights		Prepayment Rate	Prepayment Rate
Discount Rate [Member] | Minimum [Member]
Mortgage Servicing Rights, Measuring Inputs		9	9
Discount Rate [Member] | Maximum [Member]
Mortgage Servicing Rights, Measuring Inputs		9	9
Discount Rate [Member] | Weighted Average [Member]
Mortgage Servicing Rights, Measuring Inputs	[2]	9	9
Mortgage Servicing Rights		Discount Rate	Discount Rate
Delinquency Rate [Member] | Minimum [Member]
Mortgage Servicing Rights, Measuring Inputs		3.81	3.91
Delinquency Rate [Member] | Maximum [Member]
Mortgage Servicing Rights, Measuring Inputs		4.79	5.13
Delinquency Rate [Member] | Weighted Average [Member]
Mortgage Servicing Rights, Measuring Inputs	[2]	4	4.12
Mortgage Servicing Rights		Delinquency Rate	Delinquency Rate
Default Rate [Member] | Minimum [Member]
Mortgage Servicing Rights, Measuring Inputs		0.08	0.08
Default Rate [Member] | Maximum [Member]
Mortgage Servicing Rights, Measuring Inputs		0.14	0.14
Default Rate [Member] | Weighted Average [Member]
Mortgage Servicing Rights, Measuring Inputs	[2]	0.13	0.13
Mortgage Servicing Rights		Default Rate	Default Rate
[1]	Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of loan servicing income (loss) in the Company’s consolidated statements of income.
[2]	Unobservable inputs for mortgage servicing rights were weighted by loan amount.

Fair Values of Assets and Lia_6

Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-financial assets and liabilities measured at fair value on a recurring basis	$ 0
Foreclosed assets	0	$ 0
Fair Value, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 0	$ 0

Fair Values of Assets and Lia_7

Fair Values of Assets and Liabilities - Fair Value Measurements, Recurring and Nonrecurring (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial Assets:
Cash and due from banks	$ 22,674	$ 5,996
Interest-bearing time deposits with other banks	2,488	2,488
Federal Home Loan Bank stock	1,868	1,796
Bank-owned life insurance	4,376	4,356
Loans, net	371,394	364,800
Accrued interest receivable	1,351	1,412
Financial Liabilities:
Deposits	361,499	327,381
Advances from Federal Home Loan Bank	29,032	34,127
Advances from Federal Reserve Bank	9,438	18,195
Mortgagors’ tax escrow	2,045	1,420
Financial Liabilities:
Advances from Federal Home Loan Bank	29,032	34,127
Cash and due from banks [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	22,674	5,996
Interest-bearing time deposits with other banks [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	2,488	2,488
Federal Home Loan Bank stock [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	1,868	1,796
Bank-owned life insurance [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	4,376	4,356
Loans, net [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	371,128	365,116
Accrued interest receivable [member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	1,351	1,412
Deposits [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	361,693	327,696
Federal Home Loan Bank Borrowings [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	29,570	34,832
FRB [Member]
Financial Liabilities:
Advances from Federal Home Loan Bank	9,441	18,199
Financial Liabilities:
Advances from Federal Home Loan Bank	9,441	18,199
Mortgagors' tax escrow [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	2,045	1,420
Fair Value, Inputs, Level 1 [Member] | Cash and due from banks [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	22,674	5,996
Fair Value, Inputs, Level 1 [Member] | Accrued interest receivable [member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	1,351	1,412
Fair Value, Inputs, Level 1 [Member] | Deposits [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	300,662	278,713
Fair Value, Inputs, Level 2 [Member] | Interest-bearing time deposits with other banks [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	2,488	2,488
Fair Value, Inputs, Level 2 [Member] | Federal Home Loan Bank stock [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	1,868	1,796
Fair Value, Inputs, Level 2 [Member] | Bank-owned life insurance [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	4,376	4,356
Fair Value, Inputs, Level 2 [Member] | Deposits [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	61,031	48,983
Fair Value, Inputs, Level 2 [Member] | Federal Home Loan Bank Borrowings [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	29,570	34,832
Fair Value, Inputs, Level 2 [Member] | FRB [Member]
Financial Liabilities:
Advances from Federal Home Loan Bank	9,441	18,199
Financial Liabilities:
Advances from Federal Home Loan Bank	9,441	18,199
Fair Value, Inputs, Level 2 [Member] | Mortgagors' tax escrow [Member]
Financial Liabilities:
Financial Liabilities Fair Value Disclosure	2,045	1,420
Fair Value, Inputs, Level 3 [Member] | Loans, net [Member]
Assets, Fair Value Disclosure
Assets, Fair Value Disclosure	$ 371,128	$ 365,116

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Apr. 13, 2021	May 03, 2021	Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Advances through FLHB			$ 29,032			$ 34,127
Average Price Paid per Share			$ 9.87	$ 9.01	$ 8.95
Subsequent Event [Member]
Subsequent Event [Line Items]
Advances through FLHB	$ 5,000
FHLB, description of renewal	The renewal date will be on the 13th day of every January, April, July and October, and the interest rate on these quarterly advances is also expected to move closely with changes in the 3-month LIBOR.
London inter bank offered rate term	3 months
Federal home loan bank advances floating rate to fixed due date earliest	Jul. 13, 2021
Federal home loan bank advances floating rate to fixed due date last	Apr. 13, 2026
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of shares authorized for repurchase		4,614
Average Price Paid per Share		$ 9.91
Subsequent Event [Member] | Interest Rate Swap [Member]
Subsequent Event [Line Items]
Interest rate swap, term	5 years
Notional amount	$ 5,000
Fixed interest rate	0.74%
Subsequent Event [Member] | Federal Home Loan Bank Advances [Member]
Subsequent Event [Line Items]
FHLB outstanding date	Apr. 13, 2026