Provident Bancorp (PVBC) 10-Q 8 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 04, 2019
Document and Entity Information
Entity Registrant Name	Provident Bancorp, Inc. /MD/
Entity Central Index Key	0001778784
Trading Symbol	pvbc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		19,484,493
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 13,729	$ 10,941
Short-term investments	25,238	17,672
Cash and cash equivalents	38,967	28,613
Investments in available-for-sale securities (at fair value)	45,328	51,403
Federal Home Loan Bank stock, at cost	1,636	2,650
Loans, net	926,281	835,528
Bank owned life insurance	26,752	26,226
Premises and equipment, net	24,057	16,086
Other real estate owned	1,740	1,676
Accrued interest receivable	2,567	2,638
Deferred tax asset, net	6,347	6,437
Other assets	4,690	2,822
Total assets	1,078,365	974,079
Deposits:
Noninterest-bearing	235,082	195,293
Interest-bearing	662,198	572,803
Total deposits	897,280	768,096
Borrowings	29,983	68,022
Operating lease liabilities	3,881
Other liabilities	11,370	12,377
Total liabilities	942,514	848,495
Shareholders' equity:
Preferred stock; authorized 50,000 shares: no shares issued and outstanding
Common stock, no par value: 30,000,000 shares authorized; 9,658,284 shares issued, 9,621,822 shares outstanding at September 30, 2019 and 9,662,181 shares issued, 9,625,719 shares outstanding at December 31, 2018	0	0
Additional paid-in capital	46,911	45,895
Retained earnings	91,609	83,351
Accumulated other comprehensive income (loss)	559	(255)
Unearned compensation - ESOP	(2,440)	(2,619)
Treasury stock: 36,462 shares	(788)	(788)
Total shareholders' equity	135,851	125,584
Total liabilities and shareholders' equity	$ 1,078,365	$ 974,079

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
CONSOLIDATED BALANCE SHEETS
Preferred stock, shares authorized	50,000	50,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	9,658,284	9,662,181
Common stock, shares outstanding	9,621,822	9,625,719
Treasury stock, shares	36,462	36,462

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest and dividend income:
Interest and fees on loans	$ 12,841	$ 10,219	$ 36,810	$ 29,420
Interest and dividends on securities	406	411	1,230	1,256
Interest on short-term investments	69	203	136	287
Total interest and dividend income	13,316	10,833	38,176	30,963
Interest expense:
Interest on deposits	1,691	1,225	4,659	3,154
Interest on borrowings	568	204	1,701	522
Total interest expense	2,259	1,429	6,360	3,676
Net interest and dividend income	11,057	9,404	31,816	27,287
Provision for loan losses	833	1,421	3,649	2,715
Net interest and dividend income after provision for loan losses	10,224	7,983	28,167	24,572
Noninterest income:
Gain on sale of securities, net			113
Bank owned life insurance income	175	172	525	515
Other income	11	5	47	43
Total noninterest income	1,040	1,059	3,142	3,190
Noninterest expense:
Salaries and employee benefits	4,478	4,150	13,046	12,583
Occupancy expense	373	456	1,567	1,323
Equipment expense	105	118	320	361
Data processing	188	200	542	597
Marketing expense	115	54	239	168
Professional fees	120	274	1,038	851
Directors' compensation	188	141	557	467
Other	893	830	2,780	2,660
Total noninterest expense	6,460	6,223	20,089	19,010
Income before income tax expense	4,804	2,819	11,220	8,752
Income tax expense	1,295	741	2,962	2,262
Net income	$ 3,509	$ 2,078	$ 8,258	$ 6,490
Earnings per share:
Basic (in dollars per share)	$ 0.38	$ 0.22	$ 0.89	$ 0.70
Diluted (in dollars per share)	$ 0.37	$ 0.22	$ 0.88	$ 0.70
Weighted Average Shares:
Basic (in shares)	9,294,821	9,247,367	9,281,073	9,233,760
Diluted (in shares)	9,383,497	9,355,410	9,338,413	9,309,712
Customer service fees on deposit accounts
Noninterest income:
Fees and commission	$ 404	$ 380	$ 1,089	$ 1,081
Service charges and fees - other
Noninterest income:
Fees and commission	$ 450	$ 502	$ 1,368	$ 1,551

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 3,509	$ 2,078	$ 8,258	$ 6,490
Other comprehensive income (loss):
Unrealized holding gains (losses)	227	(411)	1,203	(1,717)
Reclassification adjustment for realized gains in net income			(113)
Unrealized gain (loss)	227	(411)	1,090	(1,717)
Income tax effect	(52)	100	(276)	428
Net of tax amount	175	(311)	814	(1,289)
Total comprehensive income	$ 3,684	$ 1,767	$ 9,072	$ 5,201

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Shares of Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unearned Compensation ESOP	Treasury Stock	Total
Balance at Dec. 31, 2017		$ 44,592	$ 74,047	$ 589	$ (2,857)	$ (594)	$ 115,777
Balance (in shares) at Dec. 31, 2017	9,628,796
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			6,490				6,490
Other comprehensive (loss) income			0	(1,289)			(1,289)
Stock-based compensation expense		695	$ 0				695
Restricted stock award grants (in shares)	4,862		0
Exercise of stock options			$ (21)			21
Exercise of stock options (in shares)	1,010
ESOP shares earned		285	0		178		463
Balance at Sep. 30, 2018		45,572	80,516	(700)	(2,679)	(573)	122,136
Balance (in shares) at Sep. 30, 2018	9,634,668
Balance at Jun. 30, 2018		45,250	78,459	(389)	(2,738)	(594)	119,988
Balance (in shares) at Jun. 30, 2018	9,628,796
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		0	2,078	0	0	0	2,078
Other comprehensive (loss) income		0	0	(311)	0	0	(311)
Stock-based compensation expense		$ 215	$ 0	$ 0	$ 0	$ 0	$ 215
Restricted stock award grants (in shares)	4,862	0	0	0	0	0	0
Exercise of stock options		$ 0	$ (21)	$ 0	$ 0	$ 21	$ 0
Exercise of stock options (in shares)	1,010
ESOP shares earned		107	0	0	59	0	166
Balance at Sep. 30, 2018		45,572	80,516	(700)	(2,679)	(573)	122,136
Balance (in shares) at Sep. 30, 2018	9,634,668
Balance at Dec. 31, 2018		45,895	83,351	(255)	(2,619)	(788)	125,584
Balance (in shares) at Dec. 31, 2018	9,625,719
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			8,258				8,258
Other comprehensive (loss) income			0	814			814
Stock-based compensation expense		755	$ 0				755
Restricted stock award grants (in shares)	(3,897)
Restricted stock award grant forfeiture (in shares)			0
ESOP shares earned		261	$ 0		179		440
Balance at Sep. 30, 2019		46,911	91,609	559	(2,440)	(788)	135,851
Balance (in shares) at Sep. 30, 2019	9,621,822
Balance at Jun. 30, 2019		46,567	88,100	384	(2,500)	(788)	131,763
Balance (in shares) at Jun. 30, 2019	9,621,822
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		0	3,509	0	0	0	3,509
Other comprehensive (loss) income		0	0	175	0	0	175
Stock-based compensation expense		245	0	0	0	0	245
ESOP shares earned		99	0	0	60	0	159
Balance at Sep. 30, 2019		$ 46,911	$ 91,609	$ 559	$ (2,440)	$ (788)	$ 135,851
Balance (in shares) at Sep. 30, 2019	9,621,822

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income		$ 8,258	$ 6,490
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities premiums, net of accretion		129	215
ESOP expense		440	463
Gain on sale of securities, net		(113)
Change in deferred loan fees, net		761	101
Provision for loan losses		3,649	2,715
Depreciation and amortization		960	550
Gain on disposals of premises and equipment		(9)	0
Decrease (increase) in accrued interest receivable		71	(239)
Deferred tax benefit		(185)	0
Share-based compensation expense		755	695
Increase in cash surrender value of life insurance		(526)	(515)
Principal repayments of operating lease obligations		(57)	0
Increase in other assets		(1,868)	(478)
(Decrease) increase in other liabilities		(905)	2,073
Net cash provided by operating activities		11,360	12,070
Cash flows from investing activities:
Purchases of available-for-sale securities		(13,729)	0
Proceeds from sales of available-for-sale securities		13,565	0
Proceeds from pay downs, maturities and calls of available-for-sale securities		7,313	7,022
Redemption (purchase) of Federal Home Loan Bank stock		1,014	(71)
Loan originations and purchases, net of paydowns		(95,163)	(43,970)
Additions to premises and equipment		(5,172)	(1,079)
Additions to assets held-for-sale		0	(147)
Proceeds from the sale of equipment		85	0
Additions to other real estate owned		(64)	0
Net cash used in investing activities		(92,151)	(38,245)
Cash flows from financing activities:
Net increase in demand deposits, NOW and savings accounts		111,907	12,189
Net increase (decrease) increase in time deposits		17,277	(10,776)
Proceeds from advances from Federal Home Loan Bank			10,000
Net change in short-term borrowings		(38,039)	(6,939)
Net cash provided by financing activities		91,145	4,474
Net increase (decrease) in cash and cash equivalents		10,354	(21,701)
Cash and cash equivalents at beginning of period		28,613
Cash and cash equivalents at end of period		38,967	25,988
Supplemental disclosures:
Interest paid		6,359	3,716
Income taxes paid		3,369	2,520
Recognition of right-of-use assets in premises and equipment (1)	[1]	3,836
Recognition of operating lease liabilities	[1]	3,938
Reclassification of accrued rent from other liabilities to premises and equipment (1)	[1]	102
Assets held-for-sale transferred to premises and equipment		$ 0	$ 3,433
[1]	Adoption of ASU 2016-02, Leases (Note 15)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Basis of Presentation
Basis of Presentation	(1) Basis of Presentation The accompanying unaudited financial statements of Provident Bancorp, Inc., a Massachusetts corporation (the “Company”), were prepared in accordance with the instructions for Form 10‑Q and with Regulation S-X and do not include information or footnotes necessary for a complete presentation of the financial condition, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, in the opinion of management, all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three and nine-month periods ended September 30, 2019 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. Certain amounts in 2018 have been reclassified to be consistent with the 2019 consolidated financial statement presentation, and had no effect on the net income reported in the consolidated statement of income. These financial statements should be read in conjunction with the annual financial statements and notes thereto included in the annual report on Form 10‑K the Company filed with the Securities and Exchange Commission on March 14, 2019. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary, The Provident Bank (the “Bank”), and the Bank’s wholly owned subsidiaries, Provident Security Corporation and 5 Market Street Security Corporation. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account. All significant inter-company balances and transactions have been eliminated in consolidation.

Corporate Structure

Corporate Structure	9 Months Ended
	Sep. 30, 2019
Corporate Structure
Corporate Structure	(2) Corporate Structure The Company was a Massachusetts-chartered corporation organized for the purpose of owning all of the outstanding capital stock of The Provident Bank (the “Bank”). Provident Bancorp, the Company’s mutual holding company (the “MHC”), owned approximately 52.3% of the Company’s stock. On June 5, 2019, the Board of Trustees of Provident Bancorp (“MHC”) and the Board of Directors of the Company adopted a Plan of Conversion and Reorganization (the “Plan”). Pursuant to the Plan, the MHC has converted from the mutual holding company form of organization to the fully public form. The MHC merged into the Company, and the MHC no longer exists. The Company has merged into a new Maryland corporation named Provident Bancorp, Inc. As part of the conversion, the MHC’s ownership interest of the Company was offered for sale in a public offering. The existing publicly held shares of the Company, which represent the remaining ownership interest in the Company, were exchanged for new shares of common stock of Provident Bancorp, Inc., the new Maryland Corporation. The exchange ratio ensured that immediately after the conversion and public offering, the public shareholders of the Company own the same aggregate percentage of Provident Bancorp, Inc. common stock that they owned immediately prior to that time (excluding shares purchased in the stock offering and cash received in lieu of fractional shares), adjusted to reflect assets held by the MHC. The conversion and offering were completed October16, 2019 and, as a result, all of the capital stock of The Provident Bank is owned by Provident Bancorp, Inc., the Maryland corporation. The Plan provides for the establishment, upon the completion of the conversion, of special “liquidation accounts” for the benefit of certain depositors of The Provident Bank in an amount equal to the MHC’s ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the prospectus plus the MHC’s net assets (excluding its ownership of the Company). Following the completion of the conversion, the Company and The Provident Bank are not permitted to pay dividends on their capital stock if the shareholders’ equity of Provident Bancorp, Inc., the Maryland corporation, or the shareholder’s equity of The Provident Bank, would be reduced below the amount of the liquidation accounts. The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation accounts. Direct costs of the conversion and public offering were deferred and reduce the proceeds from the shares sold in the public offering. Costs of $819,000 have been incurred related to the conversion as of September 30, 2019. Because the conversion and offering were completed after September 30, 2019, financial and other information is that of the Company, unless indicated. The Bank, headquartered in Amesbury, Massachusetts operates its business from seven banking offices located in Amesbury and Newburyport, Massachusetts and Portsmouth, Exeter, Bedford, and Seabrook, New Hampshire. The Bank also has four loan production offices in Boston, Hingham, and Dedham, Massachusetts and Portsmouth, New Hampshire. The Bank provides a variety of financial services to individuals and small businesses. Its primary deposit products are checking, savings and term certificate accounts and its primary lending products are commercial mortgages and commercial loans.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Recent Accounting Pronouncements
Recent Accounting Pronouncements	(3) Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The amendments in this update require lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases. Accounting by lessors will remain largely unchanged. The guidance was effective for the Company on January 1, 2019. In July 2018, the FASB issued 2018-11, which allows a modified retrospective transition where the lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented or as a cumulative effect adjustment as of the date of adoption. The Company adopted ASU 2016-02 on January 1, 2019 as a cumulative effect adjustment as of that date. The Company’s assets and liabilities increased by $3.8 million at the adoption date (see Note 15). In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): “Measurement of Credit Losses on Financial Instruments.” The ASU changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that will replace today’s “incurred loss” model and can result in the earlier recognition of credit losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except that the losses will be recognized as an allowance. On October 16, 2019, FASB approved a delay on the implementation until January 2023 for smaller reporting companies as defined by the SEC. The amendments in this update will be effective for the Company on January 1, 2023. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is currently evaluating the impact of its pending adoption of this guidance on the Company’s financial statements. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (subtopic 310-20): “Premium Amortization on Purchased Callable Debt Securities.” This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments were effective for the Company on January 1, 2019. The Company adopted this guidance on January 1, 2019 and there was no impact on the Company’s financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): “Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. This ASU will be effective for the Company on January 1, 2020. As the guidance only revises disclosure requirements, the adoption of this guidance is not expected to have a material impact on the Company’s financial statements.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2019
Investment Securities
Investment Securities	(4) Investment Securities The following summarizes the amortized cost of investment securities classified as available-for-sale and their approximate fair values at September 30, 2019 and December 31, 2018: Amortized Gross Gross Cost Unrealized Unrealized Fair (In thousands) Basis Gains Losses Value September 30, 2019 State and municipal securities $ 10,824 $ 436 $ — $ 11,260 Asset-backed securities 5,676 126 2 5,800 Government mortgage-backed securities 28,100 256 88 28,268 Total available-for-sale securities $ 44,600 $ 818 $ 90 $ 45,328 December 31, 2018 State and municipal securities $ 20,118 $ 272 $ 135 $ 20,255 Asset-backed securities 6,512 — 141 6,371 Government mortgage-backed securities 25,135 138 496 24,777 Total available-for-sale securities $ 51,765 $ 410 $ 772 $ 51,403 The scheduled maturities of debt securities were as follows at September 30, 2019: Available-for-Sale Amortized Fair (In thousands) Cost Value Due after one year through five years 605 606 Due after five years through ten years 1,520 1,535 Due after ten years 8,699 9,119 Government mortgage-backed securities 28,100 28,268 Asset-backed securities 5,676 5,800 $ 44,600 $ 45,328 The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or longer are as follows at September 30, 2019 and December 31, 2018: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses September 30, 2019 Temporarily impaired securities: Asset-backed securities $ 608 $ 2 $ — $ — $ 608 $ 2 Government mortgage-backed securities 3,898 13 5,830 75 9,728 88 Total temporarily impaired securities $ 4,506 $ 15 $ 5,830 $ 75 $ 10,336 $ 90 December 31, 2018 Temporarily impaired securities: State and municipal securities $ 6,137 $ 115 $ 597 $ 20 $ 6,734 $ 135 Asset-backed securities 3,833 98 2,538 43 6,371 141 Government mortgage-backed securities 2,864 32 14,152 464 17,016 496 Total temporarily impaired securities $ 12,834 $ 245 $ 17,287 $ 527 $ 30,121 $ 772 Government mortgage-backed and asset-backed securities : Management believes that no individual unrealized loss at September 30, 2019 represents an other-than-temporary impairment (OTTI) because the decline in fair value of these securities is primarily attributable to changes in market interest rates and not credit quality, and because the Company has the intent and ability to hold these investments until market price recovery or maturity.

Loans

Loans	9 Months Ended
	Sep. 30, 2019
Loans
Loans	(5) Loans A summary of loans is as follows: At At September 30, December 31, (Dollars in thousands) 2019 2018 Amount Percent Amount Percent Commercial real estate $ 412,214 43.82 % $ 364,867 43.00 % Commercial 422,972 44.96 % 361,782 42.64 % Residential real estate 49,073 5.22 % 57,361 6.76 % Construction and land development 41,139 4.37 % 44,606 5.26 % Consumer 15,305 1.63 % 19,815 2.34 % 940,703 100.00 % 848,431 100.00 % Allowance for loan losses (12,437) (11,680) Deferred loan fees, net (1,985) (1,223) Net loans $ 926,281 $ 835,528 The following tables set forth information regarding the activity in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2019 and 2018: For the three months ended September 30, Construction Commercial Residential Real and Land (In thousands) Real Estate Commercial Estate Development Consumer Unallocated Total Allowance for loan losses: Balance at June 30, 2019 $ 4,579 $ 5,289 $ 231 $ 649 $ 928 $ 114 $ 11,790 Charge-offs — — — — (240) — (240) Recoveries — 20 3 — 31 — 54 Provision (credit) 366 339 (6) 15 63 56 833 Balance at September 30, 2019 $ 4,945 $ 5,648 $ 228 $ 664 $ 782 $ 170 $ 12,437 Balance at June 30, 2018 $ 4,106 $ 4,512 $ 282 $ 968 $ 735 $ 27 $ 10,630 Charge-offs (790) (50) — — (128) — (968) Recoveries — 26 2 — 23 — 51 Provision (credit) 969 272 (22) 25 200 (23) 1,421 Balance at September 30, 2018 $ 4,285 $ 4,760 $ 262 $ 993 $ 830 $ 4 $ 11,134 For the nine months ended September 30, Construction Commercial Residential Real and Land (In thousands) Real Estate Commercial Estate Development Consumer Unallocated Total Allowance for loan losses: Balance at December 31, 2018 $ 4,152 $ 5,742 $ 251 $ 738 $ 710 $ 87 $ 11,680 Charge-offs — (2,223) — — (787) — (3,010) Recoveries — 35 7 — 76 — 118 Provision (credit) 793 2,094 (30) (74) 783 83 3,649 Balance at September 30, 2019 $ 4,945 $ 5,648 $ 228 $ 664 $ 782 $ 170 $ 12,437 Balance at December 31, 2017 $ 4,483 $ 3,280 $ 300 $ 965 $ 649 $ 80 $ 9,757 Charge-offs (790) (101) — — (526) — (1,417) Recoveries — 27 2 — 50 — 79 Provision (credit) 592 1,554 (40) 28 657 (76) 2,715 Balance at September 30, 2018 $ 4,285 $ 4,760 $ 262 $ 993 $ 830 $ 4 $ 11,134 The following table sets forth information regarding the allowance for loan losses and related loan balances by segment at September 30, 2019 and December 31, 2018: Construction Commercial Residential Real and Land (In thousands) Real Estate Commercial Estate Development Consumer Unallocated Total September 30, 2019 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 133 $ — $ — $ — $ — $ 133 Ending balance: Collectively evaluated for impairment 4,945 5,515 228 664 782 170 12,304 Total allowance for loan losses ending balance $ 4,945 $ 5,648 $ 228 $ 664 $ 782 $ 170 $ 12,437 Loans: Ending balance: Individually evaluated for impairment $ 2,399 $ 3,902 $ 184 $ 216 $ — $ 6,701 Ending balance: Collectively evaluated for impairment 409,815 419,070 48,889 40,923 15,305 934,002 Total loans ending balance $ 412,214 $ 422,972 $ 49,073 $ 41,139 $ 15,305 $ 940,703 December 31, 2018 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 62 $ 1,039 $ — $ — $ — $ — $ 1,101 Ending balance: Collectively evaluated for impairment 4,090 4,703 251 738 710 87 10,579 Total allowance for loan losses ending balance $ 4,152 $ 5,742 $ 251 $ 738 $ 710 $ 87 $ 11,680 Loans: Ending balance: Individually evaluated for impairment $ 1,853 $ 5,291 $ 388 $ — $ — $ 7,532 Ending balance: Collectively evaluated for impairment 363,014 356,491 56,973 44,606 19,815 840,899 Total loans ending balance $ 364,867 $ 361,782 $ 57,361 $ 44,606 $ 19,815 $ 848,431 The following tables set forth information regarding non-accrual loans and loan delinquencies by portfolio segment at September 30, 2019 and December 31, 2018: 90 Days 90 Days Total or More 30 - 59 60 - 89 or More Past Total Total Past Due Non-accrual (In thousands) Days Days Past Due Due Current Loans and Accruing Loans September 30, 2019 Commercial real estate $ — $ — $ 781 $ 781 $ 411,433 $ 412,214 $ — $ 1,123 Commercial 116 — 238 354 422,618 422,972 — 3,519 Residential real estate 261 — 735 996 48,077 49,073 — 1,049 Construction and land development — — 216 216 40,923 41,139 — 216 Consumer 94 87 80 261 15,044 15,305 — 80 Total $ 471 $ 87 $ 2,050 $ 2,608 $ 938,095 $ 940,703 $ — $ 5,987 December 31, 2018 Commercial real estate $ 742 $ — $ 519 $ 1,261 $ 363,606 $ 364,867 $ — $ 519 Commercial 40 — 3,167 3,207 358,575 361,782 — 4,830 Residential real estate 321 223 30 574 56,787 57,361 850 Construction and land development — — — — 44,606 44,606 — — Consumer 62 46 59 167 19,648 19,815 — 62 Total $ 1,165 $ 269 $ 3,775 $ 5,209 $ 843,222 $ 848,431 $ — $ 6,261 Information about the Company’s impaired loans by portfolio segment was as follows at and for the nine months ended September 30, 2019 and at and for the year ended December 31, 2018: Unpaid Average Interest Recorded Principal Related Recorded Income (In thousands) Investment Balance Allowance Investment Recognized September 30, 2019 With no related allowance recorded: Commercial real estate $ 2,399 $ 2,406 $ — $ 2,442 $ 45 Commercial 1,995 2,133 — 2,397 20 Residential real estate 184 184 — 334 15 Construction and land development 216 216 — 216 — Consumer — — — — — Total impaired with no related allowance 4,794 4,939 — 5,389 80 With an allowance recorded: Commercial real estate — — — — — Commercial 1,907 1,981 133 3,133 — Residential real estate — — — — — Construction and land development — — — — — Consumer — — — — — Total impaired with an allowance recorded 1,907 1,981 133 3,133 — Total Commercial real estate 2,399 2,406 — 2,442 45 Commercial 3,902 4,114 133 5,530 20 Residential real estate 184 184 — 334 15 Construction and land development 216 216 — 216 — Consumer — — — — — Total impaired loans $ 6,701 $ 6,920 $ 133 $ 8,522 $ 80 December 31, 2018 With no related allowance recorded: Commercial real estate $ 1,334 $ 1,334 $ — $ 5,614 $ 69 Commercial 4,050 4,110 — 4,894 38 Residential real estate 388 388 — 396 20 Construction and land development — — — — — Consumer — — — — — Total impaired with no related allowance 5,772 5,832 — 10,904 127 With an allowance recorded: Commercial real estate 519 519 62 519 — Commercial 1,241 1,267 1,039 1,695 52 Residential real estate — — — — — Construction and land development — — — — — Consumer — — — — — Total impaired with an allowance recorded 1,760 1,786 1,101 2,214 52 Total Commercial real estate 1,853 1,853 62 6,133 69 Commercial 5,291 5,377 1,039 6,589 90 Residential real estate 388 388 — 396 20 Construction and land development — — — — — Consumer — — — — — Total impaired loans $ 7,532 $ 7,618 $ 1,101 $ 13,118 $ 179 The following summarizes troubled debt restructurings entered into during the nine months ended September 30, 2019: Pre-Modification Post-Modification Outstanding Outstanding Recorded Recorded (Dollars in thousands) Number of Contracts Investment Investment September 30, 2019 Troubled debt restructurings: Commercial 1 $ 1,963 $ 1,963 1 $ 1,963 $ 1,963 In the nine months ended September 30, 2019, the Company approved one troubled debt restructuring totaling $1.9 million. This commercial loan was placed on an extended 12-month interest-only period with re-amortization to follow. An impairment analysis was performed and a specific reserve of $133,000 was allocated to this relationship. There were no troubled debt restructurings during the nine months ended September 30, 2018. The following tables present the Company’s loans by risk rating and portfolio segment at September 30, 2019 and December 31, 2018: Construction Commercial Real Residential Real and Land (In thousands) Estate Commercial Estate Development Consumer Total September 30, 2019 Grade: Pass $ 387,921 $ 406,968 $ — $ 41,061 $ — $ 835,950 Special mention 5,188 11,463 — — — 16,651 Substandard 19,105 4,541 1,199 78 — 24,923 Not formally rated — — 47,874 — 15,305 63,179 Total $ 412,214 $ 422,972 $ 49,073 $ 41,139 $ 15,305 $ 940,703 December 31, 2018 Grade: Pass $ 356,415 $ 339,079 $ — $ 44,606 $ — $ 740,100 Special mention 6,531 11,339 — — — 17,870 Substandard 1,921 10,447 571 — — 12,939 Doubtful — 917 — — — 917 Not formally rated — — 56,790 — 19,815 76,605 Total $ 364,867 $ 361,782 $ 57,361 $ 44,606 $ 19,815 $ 848,431 Credit Quality Information The Company utilizes a seven grade internal loan risk rating system for commercial real estate, construction and land development, and commercial loans as follows: Loans rated 1‑3 : Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 4 : 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 5 : 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 Company will sustain some loss if the weakness is not corrected. Loans rated 6 : 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 7 : Loans in this category are considered uncollectible “loss” and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate, construction and land development, and commercial loans. For residential real estate and consumer loans, the Company initially assesses credit quality based upon the borrower’s ability to pay and rates such loans as pass. Subsequent risk rating downgrades are based upon the borrower’s payment activity.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2019
Deposits
Deposits	(6) Deposits A summary of deposit balances, by type is as follows: September 30, December 31, (In thousands) 2019 2018 NOW and demand $ 323,225 $ 332,064 Regular savings 201,883 109,322 Money market deposits 257,499 229,314 Total non-certificate accounts 782,607 670,700 Certificate accounts of $250,000 or more 17,804 14,164 Certificate accounts less than $250,000 96,869 83,232 Total certificate accounts 114,673 97,396 Total deposits $ 897,280 $ 768,096 In connection with the Company’s second-step conversion and related stock offering, cash proceeds of $86.9 million from stock subscription deposits were received during the third quarter of 2019 and are included as savings deposits as of September 30, 2019.

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances	9 Months Ended
	Sep. 30, 2019
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances	(7) Federal Home Loan Bank Advances Borrowings from the Federal Home Loan Bank (the “FHLB”) are secured by a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one to four family properties, certain commercial real estate loans and other qualified assets. Maturities of advances from the FHLB as of September 30, 2019 are summarized as follows: (In thousands) Fiscal Year-End Dollar Amount 2019 $ 4,997 2020 11,486 2021 5,000 2023 8,500 Total $ 29,983

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Measurements
Fair Value Measurements	(8) Fair Value Measurements The Company reports certain assets at fair value in accordance with GAAP, which defines fair value and establishes a framework for measuring fair value in accordance with generally accepted accounting principles. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Basis of Fair Value Measurements · Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; · Level 2 - Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability; · Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). An asset’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Fair Values of Assets Measured on a Recurring Basis The Company’s investments in state and municipal, asset-backed and government mortgage-backed available-for-sale securities are generally classified within Level 2 of the fair value hierarchy. For these investments, the Company obtains fair value measurements from independent pricing services. The fair value measurements consider observable data that may include 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. The following summarizes financial instruments measured at fair value on a recurring basis at September 30, 2019 and December 31, 2018: Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2019 State and municipal securities $ 11,260 $ — $ 11,260 $ — Asset-backed securities 5,800 — 5,800 — Mortgage-backed securities 28,268 — 28,268 — Totals $ 45,328 $ — $ 45,328 $ — December 31, 2018 State and municipal securities $ 20,255 $ — $ 20,255 $ — Asset-backed securities 6,371 — 6,371 — Mortgage-backed securities 24,777 — 24,777 — Totals $ 51,403 $ — $ 51,403 $ — Fair Values of Assets Measured on a Non-Recurring Basis The Company's only assets measured at fair value on a nonrecurring basis are loans identified as impaired for which a write-off or specific reserve has been recorded, and other real estate owned. Certain impaired loans of the Company are reported at the fair value of the underlying collateral, less estimated selling costs. The Company classifies impaired loans as Level 3 in the fair value hierarchy. Collateral values are estimated using Level 2 inputs based upon appraisals of similar properties obtained from a third party, but can be adjusted and therefore classified as Level 3. The Company classifies other real estate owned as Level 2 in the fair value hierarchy if the Company has received a purchase and sales agreement. The following summarizes assets measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018: Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2019 Impaired loans $ 1,986 $ — $ — $ 1,986 Other real estate owned 1,740 — 1,740 — December 31, 2018 Impaired loans $ 659 $ — $ — $ 659 Other real estate owned 1,676 — 1,676 — The following is a summary of the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018: (In thousands) Fair Value Valuation Technique Unobservable Input September 30, 2019 Impaired loans $ 1,986 Business valuation Comparable company evaluations December 31, 2018 Impaired loans $ 659 Real estate appraisals and business valuation Discount for dated appraisals and comparable company evaluations

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
Fair Value of Financial Instruments
Fair Value of Financial Instruments	(9) Fair Value of Financial Instruments GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Certain financial instruments and all nonfinancial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying amounts and estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, are as follows at September 30, 2019 and December 31, 2018: Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total September 30, 2019 Financial assets: Cash and cash equivalents $ 38,967 $ 38,967 $ — $ — $ 38,967 Available-for-sale securities 45,328 — 45,328 — 45,328 Federal Home Loan Bank of Boston stock 1,636 1,636 — — 1,636 Loans, net 926,281 — — 924,719 924,719 Accrued interest receivable 2,567 — 2,567 — 2,567 Financial liabilities: Deposits 897,280 — — 898,145 898,145 Borrowings 29,983 — 30,349 — 30,349 December 31, 2018 Financial assets: Cash and cash equivalents $ 28,613 $ 28,613 $ — $ — $ 28,613 Available-for-sale securities 51,403 — 51,403 — 51,403 Federal Home Loan Bank of Boston stock 2,650 2,650 — — 2,650 Loans, net 835,528 — — 827,090 827,090 Accrued interest receivable 2,638 — 2,638 — 2,638 Financial liabilities: Deposits 768,096 — — 768,010 768,010 Borrowings 68,022 — 67,846 — 67,846

Regulatory Capital

Regulatory Capital	9 Months Ended
	Sep. 30, 2019
Regulatory Capital
Regulatory Capital	8.0 % $ 99,688 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 127,275 12.77 $ 59,813 > 6.0 79,750 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 127,275 12.77 $ 44,860 > 4.5 64,797 > 6.5 Tier 1 Capital (to Average Assets) 127,275 12.00 $ 42,413 > 4.0 53,016 > 5.0 December 31, 2018 Total Capital (to Risk Weighted Assets) $ 128,939 14.55 % $ 70,891 > 8.0 % $ 88,614 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 117,855 13.30 53,168 > 6.0 70,891 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 117,855 13.30 39,876 > 4.5 57,599 > 6.5 Tier 1 Capital (to Average Assets) 117,855 12.69 37,157 > 4.0 46,446 > 5.0 As a result of the recently enacted Economic Growth, Regulatory Relief, and Consumer Protection Act, the federal banking agencies, including the FDIC, were required to establish for qualifying institutions with assets of less than $10 billion of assets a “community bank leverage ratio” of between 8% to 10% tangible equity/consolidated assets. Institutions with capital levels meeting or exceeding the specified requirement will be considered to comply with the applicable regulatory capital requirements, including all risk-based requirements. A final rule issued by the federal regulators established a 9% community bank leverage ratio minimum for institutions to opt into the alternative framework, effective March 31, 2020. From time to time, the Company may use capital management tools such as cash dividends and common share repurchases. In January 2017, the Company received a non-objection from the Federal Reserve Board to adopt a stock repurchase program for up to 625,015 shares of its common stock, or approximately 6.6% of the current outstanding shares. Through September 30, 2019, the Company had repurchased at an average price of $21.57 per share, a total of 37,471 shares out of the 625,015 shares authorized for repurchase under the Company’s repurchase program. Liquidation Account Upon the completion of the Company’s stock offering in 2015, a special “liquidation account” was established for the benefit of certain depositors of the Bank in an amount equal to the percentage ownership interest in the equity of the Company to be held by persons other than the MHC as of the date of the latest balance sheet contained in the prospectus utilized in connection with the offering. The Company is not permitted to pay dividends on its capital stock if the Company’s shareholders’ equity would be reduced below the amount of the liquidation account. The liquidation account is reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation account." id="sjs-B4">(10) Regulatory Capital The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Effective January 1, 2015 (with a phase-in period of two to four years for certain components), the Bank became subject to capital regulations adopted by the Federal Deposit Insurance Corporation ("FDIC"), which implement the Basel III regulatory capital reforms and the changes required by the Dodd-Frank Act. The regulations require a new Common Equity Tier 1 (“CET1”) capital ratio of 4.5%, a minimum Tier 1 capital to risk-weighted assets ratio of 6.0%, a minimum total capital to risk-weighted assets ratio of 8.0% and a minimum Tier 1 leverage ratio of 4.0%. CET1 generally consists of common stock and retained earnings, subject to applicable adjustments and deductions. Under new prompt corrective action regulations, in order to be considered “well capitalized,” the Bank must maintain a CET1 capital ratio of 6.5% and a Tier 1 ratio of 8.0%, a total risk based capital ratio of 10% and a Tier 1 leverage ratio of 5.0%. As of September 30, 2019 and December 31, 2018, the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. In addition to establishing the minimum regulatory capital requirements, the regulations limit capital distributions and certain discretionary bonus payments to management if the institution does not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital to risk-weighted asset above the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer requirement began being phased in starting on January 1, 2016 at 0.625% of risk-weighted assets and increased each year until fully implemented at 2.5% on January 1, 2019. At September 30, 2019, the Bank exceeded the fully phased in regulatory requirement for the capital conservation buffer. The Bank’s actual capital amounts and ratios are presented in the following table. To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio September 30, 2019 Total Capital (to Risk Weighted Assets) $ 139,712 14.01 % $ 79,750 > 8.0 % $ 99,688 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 127,275 12.77 $ 59,813 > 6.0 79,750 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 127,275 12.77 $ 44,860 > 4.5 64,797 > 6.5 Tier 1 Capital (to Average Assets) 127,275 12.00 $ 42,413 > 4.0 53,016 > 5.0 December 31, 2018 Total Capital (to Risk Weighted Assets) $ 128,939 14.55 % $ 70,891 > 8.0 % $ 88,614 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 117,855 13.30 53,168 > 6.0 70,891 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 117,855 13.30 39,876 > 4.5 57,599 > 6.5 Tier 1 Capital (to Average Assets) 117,855 12.69 37,157 > 4.0 46,446 > 5.0 As a result of the recently enacted Economic Growth, Regulatory Relief, and Consumer Protection Act, the federal banking agencies, including the FDIC, were required to establish for qualifying institutions with assets of less than $10 billion of assets a “community bank leverage ratio” of between 8% to 10% tangible equity/consolidated assets. Institutions with capital levels meeting or exceeding the specified requirement will be considered to comply with the applicable regulatory capital requirements, including all risk-based requirements. A final rule issued by the federal regulators established a 9% community bank leverage ratio minimum for institutions to opt into the alternative framework, effective March 31, 2020. From time to time, the Company may use capital management tools such as cash dividends and common share repurchases. In January 2017, the Company received a non-objection from the Federal Reserve Board to adopt a stock repurchase program for up to 625,015 shares of its common stock, or approximately 6.6% of the current outstanding shares. Through September 30, 2019, the Company had repurchased at an average price of $21.57 per share, a total of 37,471 shares out of the 625,015 shares authorized for repurchase under the Company’s repurchase program. Liquidation Account Upon the completion of the Company’s stock offering in 2015, a special “liquidation account” was established for the benefit of certain depositors of the Bank in an amount equal to the percentage ownership interest in the equity of the Company to be held by persons other than the MHC as of the date of the latest balance sheet contained in the prospectus utilized in connection with the offering. The Company is not permitted to pay dividends on its capital stock if the Company’s shareholders’ equity would be reduced below the amount of the liquidation account. The liquidation account is reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation account.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2019
Employee Stock Ownership Plan
Employee Stock Ownership Plan	(11) Employee Stock Ownership Plan The Bank maintains an Employee Stock Ownership Plan (“ESOP”) to provide eligible employees the opportunity to own Company stock. This plan is a tax-qualified retirement plan for the benefit of Bank employees. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax limits. The number of shares committed to be released per year through 2029 is 23,810. The Company loaned funds to the ESOP to purchase 357,152 shares of the Company’s common stock at a price of $10.00 per share. The loan is payable annually over 15 years at a rate per annum equal to the Prime Rate as of December 31 (5.50% at December 31, 2018). Loan payments are principally funded by cash contributions from the Bank. Shares held by the ESOP include the following: September 30, 2019 December 31, 2018 Allocated 95,240 71,430 Committed to be allocated 17,858 23,810 Unallocated 244,054 261,912 Total 357,152 357,152 The fair value of unallocated shares was approximately $5.9 million at September 30, 2019. Total compensation expense recognized in connection with the ESOP for the three months ended September 30, 2019 and 2018 was $159,000 and $166,000, respectively. Total compensation expense recognized for the nine months ended September 30, 2019 and 2018 was $440,000 and $463,000, respectively.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Common Share
Earnings Per Common Share	(12) Earnings Per Common Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares (computed using the treasury method) that would have been outstanding if all potentially dilutive common stock equivalents were issued during the period. Unallocated ESOP shares, treasury stock and unvested restricted stock is not deemed outstanding for earnings per share calculations. Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share amounts) 2019 2018 2019 2018 Net Income attributable to common shareholders $ 3,509 $ 2,078 $ 8,258 $ 4,412 Average number of common shares issued 9,658,284 9,660,543 9,659,569 9,658,405 Less: average unallocated ESOP shares (255,742) (274,452) (262,923) (280,274) average unvested restricted stock (71,439) (110,230) (79,291) (115,659) average treasury stock acquired (36,282) (28,494) (36,282) (28,712) Average number of common shares outstanding to calculate basic earnings per common share 9,294,821 9,247,367 9,281,073 9,233,760 Effect of dilutive unvested restricted stock and stock option awards 88,676 108,043 57,340 75,952 Average number of common shares outstanding to calculate diluted earnings per common share 9,383,497 9,355,410 9,338,413 9,309,712 Earnings per common share: Basic $ 0.38 $ 0.22 $ 0.89 $ 0.70 Diluted $ 0.37 $ 0.22 $ 0.88 $ 0.70

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-Based Compensation
Share-Based Compensation	(13) Share-Based Compensation Under the Provident Bancorp, Inc. 2016 Equity Incentive Plan (the "Equity Plan"), the Company may grant options, restricted stock, restricted units or performance awards to its directors, officers and employees. Both incentive stock options and non-qualified stock options may be granted under the Equity Plan, with the total shares reserved for options equaling 446,440. The exercise price of each option equals the market price of the Company’s stock on the date of grant and the term of each option is generally ten years. The total number of shares reserved for restricted stock or restricted units is 178,575. Options and other awards vest ratably over five years. Expense related to options and restricted stock granted to directors is recognized in directors’ compensation within non-interest expense. Stock Options The fair value of each option is estimated on the date of the grant using the Black-Scholes option-pricing model with the following assumptions: · Volatility is based on peer group volatility because the Company does not have a sufficient trading history. · Expected life represents the period of time that the option is expected to be outstanding, taking into account the contractual term, and the vesting period. · The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for a period equivalent to the expected life of the option. A summary of the status of the Company’s stock option grants for the nine months ended September 30, 2019, is presented in the table below: Weighted Average Weighted Average Remaining Contractual Aggregate Intrinsic Stock Option Awards Exercise Price Term (years) Value Outstanding at December 31, 2018 396,438 $ 17.89 Granted — Forfeited — Exercised — Outstanding at September 30, 2019 396,438 $ 17.89 $ 2,435,000 Outstanding and expected to vest at September 30, 2019 396,438 $ 17.89 $ 2,435,000 Vested and Exercisable at September 30, 2019 153,706 $ 17.65 $ 980,000 Unrecognized compensation cost $ 929,000 Weighted average remaining recognition period (years) For the three months ended September 30, 2019 and 2018, total expense for the stock options was $103,000 and $94,000, respectively. For the nine months ended September 30, 2019 and 2018, total expense for the stock options was $304,000 and $295,000, respectively. Restricted Stock Shares issued upon the granting of restricted stock may be either authorized but unissued shares or reacquired shares held by the Company. Any shares forfeited because vesting requirements are not met will again be available for issuance under the Equity Plan. The fair market value of shares awarded, based on the market prices at the date of grant, is recorded as unearned compensation and amortized over the applicable vesting period. The following table presents the activity in restricted stock awards under the Equity Plan for the nine months ended September 30, 2019: Unvested Restricted Weighted Average Stock Awards Grant Date Price Unvested restricted stock awards at January 1, 2019 98,073 $ 18.13 Granted — Forfeited — Vested (972) 27.20 Unvested restricted stock awards at September 30, 2019 97,101 $ 18.04 Unrecognized compensation cost $ 1,273,000 Weighted average remaining recognition period (years) For the three months ended September 30, 2019 and 2018, total expense for the restricted stock awards was $142,000 and $121,000, respectively. For the nine months ended September 30, 2019 and 2018, total expense for the restricted stock awards was $451,000 and $400,000, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies
Commitments and Contingencies	(14) Commitments and Contingencies Litigation In April 2018, the Bank conducted a foreclosure sale of certain real and personal property which secured four non-accruing loans originally made by the Bank. The aggregate outstanding principal balance of these loans was approximately $7.5 million, of which (a) approximately $4.9 million was due and owing to the Bank and (b) approximately $2.6 million was due and owing to another financial institution who purchased participation interests in certain of these loans (the “Participant”). The Bank received approximately $8.3 million in proceeds from this foreclosure sale. The U.S. Small Business Administration (“SBA”), which also made a secured loan to the same obligors, disputed the Bank’s retention of, and claimed priority to, a portion of the proceeds generated from this foreclosure sale, alleging a breach of contract and sought monetary damages in the approximate amount of $2.0 million. As previously disclosed, we had segregated into a separate deposit account the entire amount in dispute, including the amount that would be provided to the participating institution. In June 2019, we settled this matter with the SBA and the participating institution for the amounts we had segregated and the settlement did not have a significant impact on our financial condition or results of operations.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases
Leases	(15) Leases Effective January 1, 2019, the Company adopted ASU No. 2016-02, Leases (Topic 842) . This standard required the Company to recognize on the balance sheet right-of-use assets and lease liabilities, which approximate the present value of the Company’s remaining lease payments. As of September 30, 2019, the Company recognized right-of-use assets and operating lease liabilities totaling $3.7 million and $3.9 million, respectively. The right-of-use assets are included in the total for premises and equipment net. In July 2018, the FASB issued ASU No. 2018-11 , which provided a practical expedient package for lessees. The Company has elected to use the expedient package and did not reassess whether any existing contracts contain leases; did not reassess the lease classification for existing leases; and did not reassess initial direct costs for any existing leases. As a result, all leases are considered operating leases. The Company’s leases do not provide an implicit rate so an incremental borrowing rate based on the information available at adoption date was used in determining the present value of future payments. The lease liabilities recognized by the Company represent three leased branch locations. The Company’s leases have remaining initial contractual lease terms ranging from nine months to 16.5 years. The Company terminated the lease on the Hampton, New Hampshire branch effective May 2019; therefore, the Company chose to account for this lease using the short-term lease exemption and did not apply the new accounting guidance to this lease. Some of the Company’s leases include options to extend the lease for up to 20 years. The lease liabilities recognized include certain lease extensions as it is expected that the Company will use substantially all lease renewal options. Rent expense for the operating leases has been straight lined for the remaining lease term. For the three and nine months ended September 30, 2019, rent expense for the three operating leases totaled $72,000 and $215,000, respectively. The maturities of the annual cash flows for the Company’s lease liabilities and other information as of September 30, 2019 are summarized as follows: (Dollars in thousands) Fiscal Year-End Dollar Amount 2019 $ 41 2020 165 2021 172 2022 172 2023 172 Thereafter 6,461 Total lease payments 7,183 Less imputed interest (3,302) Total lease liabilities $ 3,881 Weighted-average remaining lease term – operating leases 32.2 years Weighted-average discount rate – operating leases 3.78%

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements of Provident Bancorp, Inc., a Massachusetts corporation (the “Company”), were prepared in accordance with the instructions for Form 10‑Q and with Regulation S-X and do not include information or footnotes necessary for a complete presentation of the financial condition, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, in the opinion of management, all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three and nine-month periods ended September 30, 2019 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. Certain amounts in 2018 have been reclassified to be consistent with the 2019 consolidated financial statement presentation, and had no effect on the net income reported in the consolidated statement of income. These financial statements should be read in conjunction with the annual financial statements and notes thereto included in the annual report on Form 10‑K the Company filed with the Securities and Exchange Commission on March 14, 2019. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary, The Provident Bank (the “Bank”), and the Bank’s wholly owned subsidiaries, Provident Security Corporation and 5 Market Street Security Corporation. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account. All significant inter-company balances and transactions have been eliminated in consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The amendments in this update require lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases. Accounting by lessors will remain largely unchanged. The guidance was effective for the Company on January 1, 2019. In July 2018, the FASB issued 2018-11, which allows a modified retrospective transition where the lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented or as a cumulative effect adjustment as of the date of adoption. The Company adopted ASU 2016-02 on January 1, 2019 as a cumulative effect adjustment as of that date. The Company’s assets and liabilities increased by $3.8 million at the adoption date (see Note 15). In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): “Measurement of Credit Losses on Financial Instruments.” The ASU changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that will replace today’s “incurred loss” model and can result in the earlier recognition of credit losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except that the losses will be recognized as an allowance. On October 16, 2019, FASB approved a delay on the implementation until January 2023 for smaller reporting companies as defined by the SEC. The amendments in this update will be effective for the Company on January 1, 2023. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is currently evaluating the impact of its pending adoption of this guidance on the Company’s financial statements. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (subtopic 310-20): “Premium Amortization on Purchased Callable Debt Securities.” This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments were effective for the Company on January 1, 2019. The Company adopted this guidance on January 1, 2019 and there was no impact on the Company’s financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): “Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. This ASU will be effective for the Company on January 1, 2020. As the guidance only revises disclosure requirements, the adoption of this guidance is not expected to have a material impact on the Company’s financial statements.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Investment Securities
Schedule of amortized cost of investment securities classified as available-for-sale and their approximate fair values	Amortized Gross Gross Cost Unrealized Unrealized Fair (In thousands) Basis Gains Losses Value September 30, 2019 State and municipal securities $ 10,824 $ 436 $ — $ 11,260 Asset-backed securities 5,676 126 2 5,800 Government mortgage-backed securities 28,100 256 88 28,268 Total available-for-sale securities $ 44,600 $ 818 $ 90 $ 45,328 December 31, 2018 State and municipal securities $ 20,118 $ 272 $ 135 $ 20,255 Asset-backed securities 6,512 — 141 6,371 Government mortgage-backed securities 25,135 138 496 24,777 Total available-for-sale securities $ 51,765 $ 410 $ 772 $ 51,403
Schedule of maturities of debt securities	Available-for-Sale Amortized Fair (In thousands) Cost Value Due after one year through five years 605 606 Due after five years through ten years 1,520 1,535 Due after ten years 8,699 9,119 Government mortgage-backed securities 28,100 28,268 Asset-backed securities 5,676 5,800 $ 44,600 $ 45,328
Schedule of aggregate fair value and unrealized losses of securities that have been in a continuous unrealized-loss position	Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses September 30, 2019 Temporarily impaired securities: Asset-backed securities $ 608 $ 2 $ — $ — $ 608 $ 2 Government mortgage-backed securities 3,898 13 5,830 75 9,728 88 Total temporarily impaired securities $ 4,506 $ 15 $ 5,830 $ 75 $ 10,336 $ 90 December 31, 2018 Temporarily impaired securities: State and municipal securities $ 6,137 $ 115 $ 597 $ 20 $ 6,734 $ 135 Asset-backed securities 3,833 98 2,538 43 6,371 141 Government mortgage-backed securities 2,864 32 14,152 464 17,016 496 Total temporarily impaired securities $ 12,834 $ 245 $ 17,287 $ 527 $ 30,121 $ 772

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2019
Loans
Schedule of loans	At At September 30, December 31, (Dollars in thousands) 2019 2018 Amount Percent Amount Percent Commercial real estate $ 412,214 43.82 % $ 364,867 43.00 % Commercial 422,972 44.96 % 361,782 42.64 % Residential real estate 49,073 5.22 % 57,361 6.76 % Construction and land development 41,139 4.37 % 44,606 5.26 % Consumer 15,305 1.63 % 19,815 2.34 % 940,703 100.00 % 848,431 100.00 % Allowance for loan losses (12,437) (11,680) Deferred loan fees, net (1,985) (1,223) Net loans $ 926,281 $ 835,528
Schedule of allowance for loan losses by portfolio segment	For the three months ended September 30, Construction Commercial Residential Real and Land (In thousands) Real Estate Commercial Estate Development Consumer Unallocated Total Allowance for loan losses: Balance at June 30, 2019 $ 4,579 $ 5,289 $ 231 $ 649 $ 928 $ 114 $ 11,790 Charge-offs — — — — (240) — (240) Recoveries — 20 3 — 31 — 54 Provision (credit) 366 339 (6) 15 63 56 833 Balance at September 30, 2019 $ 4,945 $ 5,648 $ 228 $ 664 $ 782 $ 170 $ 12,437 Balance at June 30, 2018 $ 4,106 $ 4,512 $ 282 $ 968 $ 735 $ 27 $ 10,630 Charge-offs (790) (50) — — (128) — (968) Recoveries — 26 2 — 23 — 51 Provision (credit) 969 272 (22) 25 200 (23) 1,421 Balance at September 30, 2018 $ 4,285 $ 4,760 $ 262 $ 993 $ 830 $ 4 $ 11,134 For the nine months ended September 30, Construction Commercial Residential Real and Land (In thousands) Real Estate Commercial Estate Development Consumer Unallocated Total Allowance for loan losses: Balance at December 31, 2018 $ 4,152 $ 5,742 $ 251 $ 738 $ 710 $ 87 $ 11,680 Charge-offs — (2,223) — — (787) — (3,010) Recoveries — 35 7 — 76 — 118 Provision (credit) 793 2,094 (30) (74) 783 83 3,649 Balance at September 30, 2019 $ 4,945 $ 5,648 $ 228 $ 664 $ 782 $ 170 $ 12,437 Balance at December 31, 2017 $ 4,483 $ 3,280 $ 300 $ 965 $ 649 $ 80 $ 9,757 Charge-offs (790) (101) — — (526) — (1,417) Recoveries — 27 2 — 50 — 79 Provision (credit) 592 1,554 (40) 28 657 (76) 2,715 Balance at September 30, 2018 $ 4,285 $ 4,760 $ 262 $ 993 $ 830 $ 4 $ 11,134
Schedule of loan balances by segment	Construction Commercial Residential Real and Land (In thousands) Real Estate Commercial Estate Development Consumer Unallocated Total September 30, 2019 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 133 $ — $ — $ — $ — $ 133 Ending balance: Collectively evaluated for impairment 4,945 5,515 228 664 782 170 12,304 Total allowance for loan losses ending balance $ 4,945 $ 5,648 $ 228 $ 664 $ 782 $ 170 $ 12,437 Loans: Ending balance: Individually evaluated for impairment $ 2,399 $ 3,902 $ 184 $ 216 $ — $ 6,701 Ending balance: Collectively evaluated for impairment 409,815 419,070 48,889 40,923 15,305 934,002 Total loans ending balance $ 412,214 $ 422,972 $ 49,073 $ 41,139 $ 15,305 $ 940,703 December 31, 2018 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 62 $ 1,039 $ — $ — $ — $ — $ 1,101 Ending balance: Collectively evaluated for impairment 4,090 4,703 251 738 710 87 10,579 Total allowance for loan losses ending balance $ 4,152 $ 5,742 $ 251 $ 738 $ 710 $ 87 $ 11,680 Loans: Ending balance: Individually evaluated for impairment $ 1,853 $ 5,291 $ 388 $ — $ — $ 7,532 Ending balance: Collectively evaluated for impairment 363,014 356,491 56,973 44,606 19,815 840,899 Total loans ending balance $ 364,867 $ 361,782 $ 57,361 $ 44,606 $ 19,815 $ 848,431
non-accrual loans and loan delinquencies by portfolio segment	90 Days 90 Days Total or More 30 - 59 60 - 89 or More Past Total Total Past Due Non-accrual (In thousands) Days Days Past Due Due Current Loans and Accruing Loans September 30, 2019 Commercial real estate $ — $ — $ 781 $ 781 $ 411,433 $ 412,214 $ — $ 1,123 Commercial 116 — 238 354 422,618 422,972 — 3,519 Residential real estate 261 — 735 996 48,077 49,073 — 1,049 Construction and land development — — 216 216 40,923 41,139 — 216 Consumer 94 87 80 261 15,044 15,305 — 80 Total $ 471 $ 87 $ 2,050 $ 2,608 $ 938,095 $ 940,703 $ — $ 5,987 December 31, 2018 Commercial real estate $ 742 $ — $ 519 $ 1,261 $ 363,606 $ 364,867 $ — $ 519 Commercial 40 — 3,167 3,207 358,575 361,782 — 4,830 Residential real estate 321 223 30 574 56,787 57,361 850 Construction and land development — — — — 44,606 44,606 — — Consumer 62 46 59 167 19,648 19,815 — 62 Total $ 1,165 $ 269 $ 3,775 $ 5,209 $ 843,222 $ 848,431 $ — $ 6,261
Schedule of impaired loans by portfolio segment	Unpaid Average Interest Recorded Principal Related Recorded Income (In thousands) Investment Balance Allowance Investment Recognized September 30, 2019 With no related allowance recorded: Commercial real estate $ 2,399 $ 2,406 $ — $ 2,442 $ 45 Commercial 1,995 2,133 — 2,397 20 Residential real estate 184 184 — 334 15 Construction and land development 216 216 — 216 — Consumer — — — — — Total impaired with no related allowance 4,794 4,939 — 5,389 80 With an allowance recorded: Commercial real estate — — — — — Commercial 1,907 1,981 133 3,133 — Residential real estate — — — — — Construction and land development — — — — — Consumer — — — — — Total impaired with an allowance recorded 1,907 1,981 133 3,133 — Total Commercial real estate 2,399 2,406 — 2,442 45 Commercial 3,902 4,114 133 5,530 20 Residential real estate 184 184 — 334 15 Construction and land development 216 216 — 216 — Consumer — — — — — Total impaired loans $ 6,701 $ 6,920 $ 133 $ 8,522 $ 80 December 31, 2018 With no related allowance recorded: Commercial real estate $ 1,334 $ 1,334 $ — $ 5,614 $ 69 Commercial 4,050 4,110 — 4,894 38 Residential real estate 388 388 — 396 20 Construction and land development — — — — — Consumer — — — — — Total impaired with no related allowance 5,772 5,832 — 10,904 127 With an allowance recorded: Commercial real estate 519 519 62 519 — Commercial 1,241 1,267 1,039 1,695 52 Residential real estate — — — — — Construction and land development — — — — — Consumer — — — — — Total impaired with an allowance recorded 1,760 1,786 1,101 2,214 52 Total Commercial real estate 1,853 1,853 62 6,133 69 Commercial 5,291 5,377 1,039 6,589 90 Residential real estate 388 388 — 396 20 Construction and land development — — — — — Consumer — — — — — Total impaired loans $ 7,532 $ 7,618 $ 1,101 $ 13,118 $ 179
Schedule of troubled debt restructurings	Pre-Modification Post-Modification Outstanding Outstanding Recorded Recorded (Dollars in thousands) Number of Contracts Investment Investment September 30, 2019 Troubled debt restructurings: Commercial 1 $ 1,963 $ 1,963 1 $ 1,963 $ 1,963
Schedule of loans by risk rating and portfolio segment	Construction Commercial Real Residential Real and Land (In thousands) Estate Commercial Estate Development Consumer Total September 30, 2019 Grade: Pass $ 387,921 $ 406,968 $ — $ 41,061 $ — $ 835,950 Special mention 5,188 11,463 — — — 16,651 Substandard 19,105 4,541 1,199 78 — 24,923 Not formally rated — — 47,874 — 15,305 63,179 Total $ 412,214 $ 422,972 $ 49,073 $ 41,139 $ 15,305 $ 940,703 December 31, 2018 Grade: Pass $ 356,415 $ 339,079 $ — $ 44,606 $ — $ 740,100 Special mention 6,531 11,339 — — — 17,870 Substandard 1,921 10,447 571 — — 12,939 Doubtful — 917 — — — 917 Not formally rated — — 56,790 — 19,815 76,605 Total $ 364,867 $ 361,782 $ 57,361 $ 44,606 $ 19,815 $ 848,431

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2019
Deposits
Schedule of deposit balances by type	September 30, December 31, (In thousands) 2019 2018 NOW and demand $ 323,225 $ 332,064 Regular savings 201,883 109,322 Money market deposits 257,499 229,314 Total non-certificate accounts 782,607 670,700 Certificate accounts of $250,000 or more 17,804 14,164 Certificate accounts less than $250,000 96,869 83,232 Total certificate accounts 114,673 97,396 Total deposits $ 897,280 $ 768,096

Federal Home Loan Bank Advanc_2

Federal Home Loan Bank Advances (Tables)	9 Months Ended
	Sep. 30, 2019
Federal Home Loan Bank Advances
Schedule of maturities of advances from the FHLB	(In thousands) Fiscal Year-End Dollar Amount 2019 $ 4,997 2020 11,486 2021 5,000 2023 8,500 Total $ 29,983

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Measurements
Schedule of financial instruments measured at fair value on a recurring basis	Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2019 State and municipal securities $ 11,260 $ — $ 11,260 $ — Asset-backed securities 5,800 — 5,800 — Mortgage-backed securities 28,268 — 28,268 — Totals $ 45,328 $ — $ 45,328 $ — December 31, 2018 State and municipal securities $ 20,255 $ — $ 20,255 $ — Asset-backed securities 6,371 — 6,371 — Mortgage-backed securities 24,777 — 24,777 — Totals $ 51,403 $ — $ 51,403 $ —
Schedule of assets measured at fair value on a nonrecurring basis	Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2019 Impaired loans $ 1,986 $ — $ — $ 1,986 Other real estate owned 1,740 — 1,740 — December 31, 2018 Impaired loans $ 659 $ — $ — $ 659 Other real estate owned 1,676 — 1,676 —
Schedule of valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis	(In thousands) Fair Value Valuation Technique Unobservable Input September 30, 2019 Impaired loans $ 1,986 Business valuation Comparable company evaluations December 31, 2018 Impaired loans $ 659 Real estate appraisals and business valuation Discount for dated appraisals and comparable company evaluations

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value of Financial Instruments
Schedule of carrying amounts and estimated fair values of financial instruments, held or issued for purposes other than trading	Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total September 30, 2019 Financial assets: Cash and cash equivalents $ 38,967 $ 38,967 $ — $ — $ 38,967 Available-for-sale securities 45,328 — 45,328 — 45,328 Federal Home Loan Bank of Boston stock 1,636 1,636 — — 1,636 Loans, net 926,281 — — 924,719 924,719 Accrued interest receivable 2,567 — 2,567 — 2,567 Financial liabilities: Deposits 897,280 — — 898,145 898,145 Borrowings 29,983 — 30,349 — 30,349 December 31, 2018 Financial assets: Cash and cash equivalents $ 28,613 $ 28,613 $ — $ — $ 28,613 Available-for-sale securities 51,403 — 51,403 — 51,403 Federal Home Loan Bank of Boston stock 2,650 2,650 — — 2,650 Loans, net 835,528 — — 827,090 827,090 Accrued interest receivable 2,638 — 2,638 — 2,638 Financial liabilities: Deposits 768,096 — — 768,010 768,010 Borrowings 68,022 — 67,846 — 67,846

Regulatory Capital (Table)

Regulatory Capital (Table)	9 Months Ended
	Sep. 30, 2019
Regulatory Capital
Schedule of Bank's actual capital amounts and ratios	To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio September 30, 2019 Total Capital (to Risk Weighted Assets) $ 139,712 14.01 % $ 79,750 > 8.0 % $ 99,688 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 127,275 12.77 $ 59,813 > 6.0 79,750 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 127,275 12.77 $ 44,860 > 4.5 64,797 > 6.5 Tier 1 Capital (to Average Assets) 127,275 12.00 $ 42,413 > 4.0 53,016 > 5.0 December 31, 2018 Total Capital (to Risk Weighted Assets) $ 128,939 14.55 % $ 70,891 > 8.0 % $ 88,614 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 117,855 13.30 53,168 > 6.0 70,891 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 117,855 13.30 39,876 > 4.5 57,599 > 6.5 Tier 1 Capital (to Average Assets) 117,855 12.69 37,157 > 4.0 46,446 > 5.0

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	9 Months Ended
	Sep. 30, 2019
Employee Stock Ownership Plan
Schedule of shares held by the ESOP	September 30, 2019 December 31, 2018 Allocated 95,240 71,430 Committed to be allocated 17,858 23,810 Unallocated 244,054 261,912 Total 357,152 357,152

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Common Share
Schedule of earning per share	Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share amounts) 2019 2018 2019 2018 Net Income attributable to common shareholders $ 3,509 $ 2,078 $ 8,258 $ 4,412 Average number of common shares issued 9,658,284 9,660,543 9,659,569 9,658,405 Less: average unallocated ESOP shares (255,742) (274,452) (262,923) (280,274) average unvested restricted stock (71,439) (110,230) (79,291) (115,659) average treasury stock acquired (36,282) (28,494) (36,282) (28,712) Average number of common shares outstanding to calculate basic earnings per common share 9,294,821 9,247,367 9,281,073 9,233,760 Effect of dilutive unvested restricted stock and stock option awards 88,676 108,043 57,340 75,952 Average number of common shares outstanding to calculate diluted earnings per common share 9,383,497 9,355,410 9,338,413 9,309,712 Earnings per common share: Basic $ 0.38 $ 0.22 $ 0.89 $ 0.70 Diluted $ 0.37 $ 0.22 $ 0.88 $ 0.70

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-Based Compensation
Schedule of stock option grants activity	Weighted Average Weighted Average Remaining Contractual Aggregate Intrinsic Stock Option Awards Exercise Price Term (years) Value Outstanding at December 31, 2018 396,438 $ 17.89 Granted — Forfeited — Exercised — Outstanding at September 30, 2019 396,438 $ 17.89 $ 2,435,000 Outstanding and expected to vest at September 30, 2019 396,438 $ 17.89 $ 2,435,000 Vested and Exercisable at September 30, 2019 153,706 $ 17.65 $ 980,000 Unrecognized compensation cost $ 929,000 Weighted average remaining recognition period (years)
Schedule of activity in restricted stock awards under the Equity Plan	Unvested Restricted Weighted Average Stock Awards Grant Date Price Unvested restricted stock awards at January 1, 2019 98,073 $ 18.13 Granted — Forfeited — Vested (972) 27.20 Unvested restricted stock awards at September 30, 2019 97,101 $ 18.04 Unrecognized compensation cost $ 1,273,000 Weighted average remaining recognition period (years)

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases
Schedule of lease labilities and other information	The maturities of the annual cash flows for the Company’s lease liabilities and other information as of September 30, 2019 are summarized as follows: (Dollars in thousands) Fiscal Year-End Dollar Amount 2019 $ 41 2020 165 2021 172 2022 172 2023 172 Thereafter 6,461 Total lease payments 7,183 Less imputed interest (3,302) Total lease liabilities $ 3,881 Weighted-average remaining lease term – operating leases 32.2 years Weighted-average discount rate – operating leases 3.78%

Corporate Structure (Details)

Corporate Structure (Details)	Sep. 30, 2019USD ($)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Deferred Offering Costs	$ 819,000
Mutual Holding Company Mhc
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Percentage of ownership of mutual holding company	52.30%

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) $ in Millions	Feb. 29, 2016USD ($)
Recent Accounting Pronouncements
Increased assets and liabilities	$ 3.8

Investment Securities - Amortiz

Investment Securities - Amortized cost (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 44,600	$ 51,765
Gross Unrealized Gains	818	410
Gross Unrealized Losses	90	772
Fair Value	45,328	51,403
State and municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	10,824	20,118
Gross Unrealized Gains	436	272
Gross Unrealized Losses	0	135
Fair Value	11,260	20,255
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	5,676	6,512
Gross Unrealized Gains	126	0
Gross Unrealized Losses	2	141
Fair Value	5,800	6,371
Government mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	28,100	25,135
Gross Unrealized Gains	256	138
Gross Unrealized Losses	88	496
Fair Value	$ 28,268	$ 24,777

Investment Securities - Maturit

Investment Securities - Maturities of debt securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available-for-Sale, Amortized Cost
Due after one year through five years	$ 605
Due after five years through ten years	1,520
Due after ten years	8,699
Amortized Cost	44,600	$ 51,765
Available-for-Sale, Fair Value
Due after one year through five years	606
Due after five years through ten years	1,535
Due after ten years	9,119
Fair Value	45,328	51,403
Government mortgage-backed securities
Available-for-Sale, Amortized Cost
Amortized Cost	28,100	25,135
Available-for-Sale, Fair Value
Fair Value	28,268	24,777
Asset-backed securities
Available-for-Sale, Amortized Cost
Amortized Cost	5,676	6,512
Available-for-Sale, Fair Value
Fair Value	$ 5,800	$ 6,371

Investment Securities - Aggrega

Investment Securities - Aggregate fair value and unrealized losses of securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 4,506	$ 12,834
Unrealized Losses, Less than 12 Months	15	245
Fair Value, 12 Months or Longer	5,830	17,287
Unrealized Losses, 12 Months or Longer	75	527
Fair Value, Total	10,336	30,121
Unrealized Losses, Total	90	772
State and municipal securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months		6,137
Unrealized Losses, Less than 12 Months		115
Fair Value, 12 Months or Longer		597
Unrealized Losses, 12 Months or Longer		20
Fair Value, Total		6,734
Unrealized Losses, Total		135
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	608	3,833
Unrealized Losses, Less than 12 Months	2	98
Fair Value, 12 Months or Longer		2,538
Unrealized Losses, 12 Months or Longer		43
Fair Value, Total	608	6,371
Unrealized Losses, Total	2	141
Government mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	3,898	2,864
Unrealized Losses, Less than 12 Months	13	32
Fair Value, 12 Months or Longer	5,830	14,152
Unrealized Losses, 12 Months or Longer	75	464
Fair Value, Total	9,728	17,016
Unrealized Losses, Total	$ 88	$ 496

Loans - Summary (Details)

Loans - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, Amount	$ 940,703		$ 848,431
Gross loans, Percent	100.00%		100.00%
Allowance for loan losses	$ (12,437)	$ (11,790)	$ (11,680)	$ (11,134)	$ (10,630)	$ (9,757)
Deferred loan fees, net	(1,985)		(1,223)
Net loans	926,281		835,528
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, Amount	$ 412,214		$ 364,867
Gross loans, Percent	43.82%		43.00%
Allowance for loan losses	$ (4,945)	(4,579)	$ (4,152)	(4,285)	(4,106)	(4,483)
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, Amount	$ 422,972		$ 361,782
Gross loans, Percent	44.96%		42.64%
Allowance for loan losses	$ (5,648)	(5,289)	$ (5,742)	(4,760)	(4,512)	(3,280)
Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, Amount	$ 49,073		$ 57,361
Gross loans, Percent	5.22%		6.76%
Allowance for loan losses	$ (228)	(231)	$ (251)	(262)	(282)	(300)
Construction and land development
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, Amount	$ 41,139		$ 44,606
Gross loans, Percent	4.37%		5.26%
Allowance for loan losses	$ (664)	(649)	$ (738)	(993)	(968)	(965)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, Amount	$ 15,305		$ 19,815
Gross loans, Percent	1.63%		2.34%
Allowance for loan losses	$ (782)	$ (928)	$ (710)	$ (830)	$ (735)	$ (649)

Loans - Summary of allowance fo

Loans - Summary of allowance for loan losses by portfolio segment and loan balances by segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 11,790	$ 10,630	$ 11,680	$ 9,757
Charge-offs	(240)	(968)	(3,010)	(1,417)
Recoveries	54	51	118	79
Provision (credit)	833	1,421	3,649	2,715
Ending balance	12,437	11,134	12,437	11,134
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					$ 133	$ 1,101
Ending balance: Collectively evaluated for impairment					12,304	10,579
Total allowance for loan losses ending balance	11,790	10,630	11,680	9,757	12,437	11,680
Loans:
Ending balance: Individually evaluated for impairment					6,701	7,532
Ending balance: Collectively evaluated for impairment					934,002	840,899
Total loans ending balance					940,703	848,431
Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,579	4,106	4,152	4,483
Charge-offs	0	(790)	0	(790)
Recoveries	0	0	0	0
Provision (credit)	366	969	793	592
Ending balance	4,945	4,285	4,945	4,285
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					0	62
Ending balance: Collectively evaluated for impairment					4,945	4,090
Total allowance for loan losses ending balance	4,579	4,106	4,152	4,483	4,945	4,152
Loans:
Ending balance: Individually evaluated for impairment					2,399	1,853
Ending balance: Collectively evaluated for impairment					409,815	363,014
Total loans ending balance					412,214	364,867
Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5,289	4,512	5,742	3,280
Charge-offs		(50)	(2,223)	(101)
Recoveries	20	26	35	27
Provision (credit)	339	272	2,094	1,554
Ending balance	5,648	4,760	5,648	4,760
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					133	1,039
Ending balance: Collectively evaluated for impairment					5,515	4,703
Total allowance for loan losses ending balance	5,289	4,512	5,742	3,280	5,648	5,742
Loans:
Ending balance: Individually evaluated for impairment					3,902	5,291
Ending balance: Collectively evaluated for impairment					419,070	356,491
Total loans ending balance					422,972	361,782
Residential real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	231	282	251	300
Charge-offs	0	0	0	0
Recoveries	3	2	7	2
Provision (credit)	(6)	(22)	(30)	(40)
Ending balance	228	262	228	262
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					0	0
Ending balance: Collectively evaluated for impairment					228	251
Total allowance for loan losses ending balance	231	282	251	300	228	251
Loans:
Ending balance: Individually evaluated for impairment					184	388
Ending balance: Collectively evaluated for impairment					48,889	56,973
Total loans ending balance					49,073	57,361
Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	649	968	738	965
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (credit)	15	25	(74)	28
Ending balance	664	993	664	993
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					0	0
Ending balance: Collectively evaluated for impairment					664	738
Total allowance for loan losses ending balance	649	968	738	965	664	738
Loans:
Ending balance: Individually evaluated for impairment					216	0
Ending balance: Collectively evaluated for impairment					40,923	44,606
Total loans ending balance					41,139	44,606
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	928	735	710	649
Charge-offs	(240)	(128)	(787)	(526)
Recoveries	31	23	76	50
Provision (credit)	63	200	783	657
Ending balance	782	830	782	830
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					0	0
Ending balance: Collectively evaluated for impairment					782	710
Total allowance for loan losses ending balance	928	735	710	649	782	710
Loans:
Ending balance: Individually evaluated for impairment					0	0
Ending balance: Collectively evaluated for impairment					15,305	19,815
Total loans ending balance					15,305	19,815
Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	114	27	87	80
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (credit)	56	(23)	83	(76)
Ending balance	170	4	170	4
Allowance for loan losses:
Ending balance: Individually evaluated for impairment					0	0
Ending balance: Collectively evaluated for impairment					170	87
Total allowance for loan losses ending balance	$ 114	$ 27	$ 87	$ 80	$ 170	$ 87

Loans - Summary of non accrual

Loans - Summary of non accrual loans and past-due loans by portfolio segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2,608	$ 5,209
Total Current	938,095	843,222
Total Loans	940,703	848,431
90 Days or More Past Due and Accruing	0	0
Non-accrual Loans	5,987	6,261
30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	471	1,165
60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	87	269
90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,050	3,775
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	781	1,261
Total Current	411,433	363,606
Total Loans	412,214	364,867
90 Days or More Past Due and Accruing	0	0
Non-accrual Loans	1,123	519
Commercial real estate | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	742
Commercial real estate | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial real estate | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	781	519
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	354	3,207
Total Current	422,618	358,575
Total Loans	422,972	361,782
90 Days or More Past Due and Accruing	0	0
Non-accrual Loans	3,519	4,830
Commercial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	116	40
Commercial | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	238	3,167
Residential real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	996	574
Total Current	48,077	56,787
Total Loans	49,073	57,361
90 Days or More Past Due and Accruing	0	0
Non-accrual Loans	1,049	850
Residential real estate | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	261	321
Residential real estate | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	223
Residential real estate | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	735	30
Construction and land development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	216	0
Total Current	40,923	44,606
Total Loans	41,139	44,606
90 Days or More Past Due and Accruing	0	0
Non-accrual Loans	216	0
Construction and land development | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction and land development | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction and land development | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	216	0
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	261	167
Total Current	15,044	19,648
Total Loans	15,305	19,815
90 Days or More Past Due and Accruing	0	0
Non-accrual Loans	80	62
Consumer | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	94	62
Consumer | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	87	46
Consumer | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 80	$ 59

Loans - Summary of impaired loa

Loans - Summary of impaired loans by portfolio segment (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
With no related allowance recorded:
Recorded Investment	$ 4,794	$ 5,772
Unpaid Principal Balance	4,939	5,832
Average Recorded Investment	5,389	10,904
Interest Income Recognized	80	127
With an allowance recorded:
Recorded Investment	1,907	1,760
Unpaid Principal Balance	1,981	1,786
Related Allowance	133	1,101
Average Recorded Investment	3,133	2,214
Interest Income Recognized	0	52
Total
Recorded Investment	6,701	7,532
Unpaid Principal Balance	6,920	7,618
Related Allowance	133	1,101
Average Recorded Investment	8,522	13,118
Interest Income Recognized	80	179
Commercial real estate
With no related allowance recorded:
Recorded Investment	2,399	1,334
Unpaid Principal Balance	2,406	1,334
Average Recorded Investment	2,442	5,614
Interest Income Recognized	45	69
With an allowance recorded:
Recorded Investment	0	519
Unpaid Principal Balance	0	519
Related Allowance	0	62
Average Recorded Investment	0	519
Interest Income Recognized	0	0
Total
Recorded Investment	2,399	1,853
Unpaid Principal Balance	2,406	1,853
Related Allowance	0	62
Average Recorded Investment	2,442	6,133
Interest Income Recognized	45	69
Commercial
With no related allowance recorded:
Recorded Investment	1,995	4,050
Unpaid Principal Balance	2,133	4,110
Average Recorded Investment	2,397	4,894
Interest Income Recognized	20	38
With an allowance recorded:
Recorded Investment	1,907	1,241
Unpaid Principal Balance	1,981	1,267
Related Allowance	133	1,039
Average Recorded Investment	3,133	1,695
Interest Income Recognized	0	52
Total
Recorded Investment	3,902	5,291
Unpaid Principal Balance	4,114	5,377
Related Allowance	133	1,039
Average Recorded Investment	5,530	6,589
Interest Income Recognized	20	90
Residential real estate
With no related allowance recorded:
Recorded Investment	184	388
Unpaid Principal Balance	184	388
Average Recorded Investment	334	396
Interest Income Recognized	15	20
With an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total
Recorded Investment	184	388
Unpaid Principal Balance	184	388
Related Allowance	0	0
Average Recorded Investment	334	396
Interest Income Recognized	15	20
Construction and land development
With no related allowance recorded:
Recorded Investment	216	0
Unpaid Principal Balance	216	0
Average Recorded Investment	216	0
Interest Income Recognized	0	0
With an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total
Recorded Investment	216	0
Unpaid Principal Balance	216	0
Related Allowance	0	0
Average Recorded Investment	216	0
Interest Income Recognized	0	0
Consumer
With no related allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
With an allowance recorded:
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Total
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	$ 0	$ 0

Loans - Summary of troubled deb

Loans - Summary of troubled debt restructuring (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)contract
Troubled debt restructuring:
Number of Contracts | contract	1
Pre- Modification Outstanding Recorded Investment	$ 1,963
Post-Modification Outstanding Recorded Investment	$ 1,963
Commercial
Troubled debt restructuring:
Number of Contracts | contract	1
Pre- Modification Outstanding Recorded Investment	$ 1,963
Post-Modification Outstanding Recorded Investment	$ 1,963

Loans - Summary of loans by ris

Loans - Summary of loans by risk rating and portfolio segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 940,703	$ 848,431
Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	835,950	740,100
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	16,651	17,870
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	24,923	12,939
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	917
Not formally rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans	63,179	76,605
Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	412,214	364,867
Commercial real estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	387,921	356,415
Commercial real estate | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	5,188	6,531
Commercial real estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	19,105	1,921
Commercial real estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0
Commercial real estate | Not formally rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	422,972	361,782
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	406,968	339,079
Commercial | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	11,463	11,339
Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,541	10,447
Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	917
Commercial | Not formally rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Residential real estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	49,073	57,361
Residential real estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Residential real estate | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Residential real estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,199	571
Residential real estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0
Residential real estate | Not formally rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans	47,874	56,790
Construction and land development
Financing Receivable, Recorded Investment [Line Items]
Total Loans	41,139	44,606
Construction and land development | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	41,061	44,606
Construction and land development | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Construction and land development | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	78	0
Construction and land development | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0
Construction and land development | Not formally rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	15,305	19,815
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0	0
Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans	0
Consumer | Not formally rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 15,305	$ 19,815

Loans - Additional information

Loans - Additional information (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Loans
Troubled debt restructuring, total	$ 1,900,000
Re-amortization term of commercial loan	12 months
Impairment analysis performed and specific reserve	$ 133,000

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Deposits
NOW and demand	$ 323,225	$ 332,064
Regular savings	201,883	109,322
Money market deposits	257,499	229,314
Total non-certificate accounts	782,607	670,700
Certificate accounts of $250,000 or more	17,804	14,164
Certificate accounts less than $250,000	96,869	83,232
Total certificate accounts	114,673	97,396
Total deposits	$ 897,280	$ 768,096

Deposits - Additional informati

Deposits - Additional information (Details) $ in Millions	3 Months Ended
	Sep. 30, 2019USD ($)
Deposits
Proceeds from stock subscription deposits	$ 86.9

Federal Home Loan Bank Advanc_3

Federal Home Loan Bank Advances (Details) $ in Thousands	Sep. 30, 2019USD ($)
Federal Home Loan Bank Advances
2019	$ 4,997
2020	11,486
2021	5,000
2023	8,500
Total	$ 29,983

Fair Value Measurements - Finan

Fair Value Measurements - Financial instruments measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	$ 45,328	$ 51,403
State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	11,260	20,255
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	5,800	6,371
Government mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	28,268	24,777
Fair Value Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Fair Value Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	45,328	51,403
Fair Value Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	45,328	51,403
Recurring basis | State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	11,260	20,255
Recurring basis | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	5,800	6,371
Recurring basis | Government mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	28,268	24,777
Recurring basis | Fair Value Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 1 | State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 1 | Government mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	45,328	51,403
Recurring basis | Fair Value Level 2 | State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	11,260	20,255
Recurring basis | Fair Value Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	5,800	6,371
Recurring basis | Fair Value Level 2 | Government mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	28,268	24,777
Recurring basis | Fair Value Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 3 | State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	0	0
Recurring basis | Fair Value Level 3 | Government mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	$ 0	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets measured at fair value on a nonrecurring basis (Details) - Nonrecurring basis - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 1,986	$ 659
Other real estate owned	1,740	1,676
Fair Value Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other real estate owned	0	0
Fair Value Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other real estate owned	1,740	1,676
Fair Value Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,986	659
Other real estate owned	$ 0	$ 0

Fair Value Measurements - Valua

Fair Value Measurements - Valuation methodology and unobservable inputs for Level 3 assets (Details) - Nonrecurring basis - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 1,986	$ 659
Fair Value Level 3
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 1,986	$ 659

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2016
Financial assets:
Cash and cash equivalents	$ 38,967	$ 28,613	$ 25,988	$ 47,689
Available-for-sale securities	45,328	51,403
Federal Home Loan Bank of Boston stock	1,636	2,650
Loans, net	926,281	835,528
Accrued interest receivable	2,567	2,638
Financial liabilities:
Borrowings	29,983	68,022
Carrying Amount
Financial assets:
Cash and cash equivalents	38,967	28,613
Available-for-sale securities	45,328	51,403
Federal Home Loan Bank of Boston stock	1,636	2,650
Loans, net	926,281	835,528
Accrued interest receivable	2,567	2,638
Financial liabilities:
Deposits	897,280	768,096
Borrowings	29,983	68,022
Fair Value
Financial assets:
Cash and cash equivalents	38,967	28,613
Available-for-sale securities	45,328	51,403
Federal Home Loan Bank of Boston stock	1,636	2,650
Loans, net	924,719	827,090
Accrued interest receivable	2,567	2,638
Financial liabilities:
Deposits	898,145	768,010
Borrowings	30,349	67,846
Fair Value Level 1
Financial assets:
Cash and cash equivalents	38,967	28,613
Available-for-sale securities	0	0
Federal Home Loan Bank of Boston stock	1,636	2,650
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Borrowings	0	0
Fair Value Level 2
Financial assets:
Cash and cash equivalents	0	0
Available-for-sale securities	45,328	51,403
Federal Home Loan Bank of Boston stock	0	0
Loans, net	0	0
Accrued interest receivable	2,567	2,638
Financial liabilities:
Deposits	0	0
Borrowings	30,349	67,846
Fair Value Level 3
Financial assets:
Cash and cash equivalents	0	0
Available-for-sale securities	0	0
Federal Home Loan Bank of Boston stock	0	0
Loans, net	924,719	827,090
Accrued interest receivable	0	0
Financial liabilities:
Deposits	898,145	768,010
Borrowings	$ 0	$ 0

Regulatory Capital - Bank's act

Regulatory Capital - Bank's actual capital amounts and ratios (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Regulatory Capital
Total Capital (to Risk Weighted Assets), Actual Capital, Amount	$ 139,712	$ 128,939
Total Capital (to Risk Weighted Assets), Actual Capital, Ratio	14.01%	14.55%
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 79,750	$ 70,891
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	8.00%	8.00%
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 99,688	$ 88,614
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), Actual Capital, Amount	$ 127,275	$ 117,855
Tier 1 Capital (to Risk Weighted Assets), Actual Capital, Ratio	12.77%	13.30%
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 59,813	$ 53,168
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	6.00%	6.00%
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 79,750	$ 70,891
Tier 1 Capital (to Risk Weighted Assets),To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%	8.00%
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 127,275	$ 117,855
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Ratio	12.77%	13.30%
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 44,860	$ 39,876
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	4.50%	4.50%
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 64,797	$ 57,599
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%	6.50%
Tier 1 Capital (to Average Assets), Actual Capital, Amount	$ 127,275	$ 117,855
Tier 1 Capital (to Average Assets), Actual Capital, Ratio	12.00%	12.69%
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Amount	$ 42,413	$ 37,157
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Ratio	4.00%	4.00%
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 53,016	$ 46,446
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%	5.00%

Regulatory Capital - Additional

Regulatory Capital - Additional information (Details) - $ / shares	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Regulatory Capital
Common equity Tier 1 ("CETI") capital ratio	4.50%	4.50%
Minimum Tier 1 capital to risk-weighted assets ratio	6.00%	6.00%
Minimum total capital to risk-weighted assets ratio	8.00%	8.00%
Minimum Tier 1 leverage ratio	4.00%	4.00%
CETI capital ratio	6.50%	6.50%
Tier 1 ratio	8.00%	8.00%
Total risk based capital ratio	10.00%	10.00%
Tier 1 leverage ratio	5.00%	5.00%
Capital conservation buffer above required capital ratios in beginning January 1, 2016	0.625%
Capital conservation buffer fully phased	2.50%
Percentage of stock repurchase plan authorized	6.60%
Number of shares repurchased	37,471
Average cost per share of stock repurchase	$ 21.57
Number of shares authorized to repurchased	625,015

Employee Stock Ownership Plan_2

Employee Stock Ownership Plan (Details) - shares	Sep. 30, 2019	Dec. 31, 2018
Share-Based Compensation
Allocated	95,240	71,430
Committed to be allocated	17,858	23,810
Unallocated	244,054	261,912
Total	357,152	357,152

Employee Stock Ownership Plan -

Employee Stock Ownership Plan - Additional information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Employee Stock Ownership Plan
ESOP shares	357,152		357,152		357,152
Number of shares committed to be released per year through 2029	23,810		23,810
Share price	$ 10		$ 10
ESOP payable term			15 years
ESOP prime rate percentage					5.50%
Fair value of unallocated shares	$ 5,900		$ 5,900
Compensation expense	$ 159	$ 166	$ 440	$ 463

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Common Share
Net Income attributable to common shareholders	$ 3,509	$ 2,078	$ 8,258	$ 4,412
Average number of common shares issued	9,658,284	9,660,543	9,659,569	9,658,405
Less:
average unallocated ESOP shares	(255,742)	(274,452)	(262,923)	(280,274)
average unvested restricted stock	(71,439)	(110,230)	(79,291)	(115,659)
average treasury stock acquired	(36,282)	(28,494)	(36,282)	(28,712)
Average number of common shares outstanding to calculate basic earnings per common share	9,294,821	9,247,367	9,281,073	9,233,760
Effect of dilutive unvested restricted stock and stock option awards	88,676	108,043	57,340	75,952
Average number of common shares outstanding to calculate diluted earnings per common share	9,383,497	9,355,410	9,338,413	9,309,712
Earnings per common share:
Basic (in dollars per share)	$ 0.38	$ 0.22	$ 0.89	$ 0.70
Diluted (in dollars per share)	$ 0.37	$ 0.22	$ 0.88	$ 0.70

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options (Details) - Stock option $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Stock Option Awards
Outstanding at December 31, 2018	396,438
Granted	0
Forfeited	0
Exercised	0
Outstanding at September 30, 2019	396,438
Outstanding and expected to vest at September 30, 2019	396,438
Vested and Exercisable at September 30, 2019	153,706
Unrecognized compensation cost | $	$ 929,000
Weighted average remaining recognition period (years)	2 years 2 months 27 days
Weighted Average Exercise Price
Outstanding at December 31, 2018 | $ / shares	$ 17.89
Outstanding at September 30, 2019 | $ / shares	17.89
Outstanding and expected to vest at September 30, 2019 | $ / shares	17.89
Vested and Exercisable at September 30, 2019 | $ / shares	$ 17.65
Weighted Average Remaining Contractual Term (years)
Outstanding at September 30, 2019	7 years 2 months 27 days
Outstanding and expected to vest at September 30, 2019	7 years 2 months 27 days
Vested and Exercisable at September 30, 2019	7 years 2 months 1 day
Aggregate Intrinsic Value
Outstanding at September 30, 2019 | $	$ 2,435,000
Outstanding and expected to vest at September 30, 2019 | $	2,435,000
Vested and Exercisable at September 30, 2019 | $	$ 980,000

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock (Details) - Restricted stock $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Unvested Restricted Stock Awards
Unvested restricted stock awards at January 1, 2019	98,073
Granted	0
Forfeited	0
Vested	(972)
Unvested restricted stock awards at September 30, 2019	97,101
Unrecognized compensation cost | $	$ 1,273,000
Weighted average remaining recognition period (years)	2 years 2 months 27 days
Weighted Average Grant Date Price
Unvested restricted stock awards at January 1, 2019 | $ / shares	$ 18.13
Vested | $ / shares	27.20
Unvested restricted stock awards at September 30, 2019 | $ / shares	$ 18.04

Share-Based Compensation - Addi

Share-Based Compensation - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock option
Share-Based Compensation
Share based compensation expenses	$ 103,000	$ 94,000	$ 304,000	$ 295,000
Restricted stock
Share-Based Compensation
Share based compensation expenses	$ 142,000	$ 121,000	$ 451,000	$ 400,000
2016 Equity Incentive Plan (the "Equity Plan")
Share-Based Compensation
Options expiration period			10 years
2016 Equity Incentive Plan (the "Equity Plan") | Stock option
Share-Based Compensation
Shares reserved for future issuance	446,440		446,440
Vesting period (years)			5 years
2016 Equity Incentive Plan (the "Equity Plan") | Restricted stock
Share-Based Compensation
Shares reserved for future issuance	178,575		178,575

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Apr. 03, 2018USD ($)
Commitments and Contingencies
Aggregate principal outstanding balance foreclosure sale	$ 7.5
Aggregate principal outstanding balance retain by bank	4.9
Aggregate principal outstanding balance retain by another institution	2.6
Proceeds from sale of foreclosed assets	8.3
Amount retain from proceeds of foreclosure sale	$ 2

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) $ in Thousands	Sep. 30, 2019USD ($)
Fiscal Year-End
Total lease liabilities	$ 3,881
Adopted ASU No. 2016-02, Leases (Topic 842)
Fiscal Year-End
2019	41
2020	165
2021	172
2022	172
2023	172
Thereafter	6,461
Total lease payments	7,183
Less imputed interest	(3,302)
Total lease liabilities	$ 3,881

Leases - Weighted-average (Deta

Leases - Weighted-average (Details) - Adopted ASU No. 2016-02, Leases (Topic 842)	Sep. 30, 2019
Leases [Line Items]
Weighted-average remaining lease term - operating leases	32 years 2 months 12 days
Weighted-average discount rate - operating leases	3.78%

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)item
Leases [Line Items]
Operating lease liabilities	$ 3,881	$ 3,881
Adopted ASU No. 2016-02, Leases (Topic 842)
Leases [Line Items]
Recognized right-of-use assets	3,700	3,700
Operating lease liabilities	3,881	$ 3,881
Number of leases branch location | item		3
Lessee, Operating Lease, Option to Extend		leases include options to extend the lease for up to 20 years
Number of leases | item		3
Operating leases rent expense	$ 72	$ 215
Adopted ASU No. 2016-02, Leases (Topic 842) | Minimum [Member]
Leases [Line Items]
Lessee, Operating Lease, Term of Contract	9 months	9 months
Adopted ASU No. 2016-02, Leases (Topic 842) | Maximum [Member]
Leases [Line Items]
Lessee, Operating Lease, Term of Contract	16 years 6 months	16 years 6 months