Provident Bancorp (PVBC) 10-Q 13 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 06, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-39090
Entity Registrant Name	Provident Bancorp, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	84-4132422
Entity Address, Address Line One	5 Market Street
Entity Address, City or Town	Amesbury
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01913
City Area Code	978
Local Phone Number	834-8555
Title of 12(b) Security	Common stock
Trading Symbol	PVBC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,335,142
Entity Central Index Key	0001778784
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 17,560	$ 11,830
Short-term investments	115,313	71,989
Cash and cash equivalents	132,873	83,819
Debt securities available-for-sale (at fair value)	34,629	32,215
Federal Home Loan Bank stock, at cost	895	895
Loans, net of allowance for loan losses of $19,032 and $18,518 as of March 31, 2021 and December 31, 2020, respectively	1,308,136	1,314,810
Bank owned life insurance	36,903	36,684
Premises and equipment, net	14,655	14,716
Accrued interest receivable	6,456	6,371
Right-of-use assets	4,219	4,258
Other assets	13,126	12,013
Total assets	1,551,892	1,505,781
Deposits:
Noninterest-bearing	431,028	383,079
Interest-bearing	854,196	854,349
Total deposits	1,285,224	1,237,428
Long-term borrowings	13,500	13,500
Operating lease liabilities	4,463	4,488
Other liabilities	14,563	14,509
Total liabilities	1,317,750	1,269,925
Shareholders' equity:
Preferred stock; authorized 50,000 shares: no shares issued and outstanding
Common stock, $0.01 par value, 100,000,000 shares authorized; 18,574,127 and 19,047,544 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	186	191
Additional paid in capital	133,981	139,450
Retained earnings	108,273	104,508
Accumulated other comprehensive income	873	1,058
Unearned compensation - ESOP	(9,171)	(9,351)
Total shareholders' equity	234,142	235,856
Total liabilities and shareholders' equity	$ 1,551,892	$ 1,505,781

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS [Abstract]
Loans, net of allowance for loan losses	$ 19,032	$ 18,518
Preferred stock, shares authorized	50,000	50,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	18,574,127	19,047,544
Common stock, shares outstanding	18,574,127	19,047,544

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest and dividend income:
Interest and fees on loans	$ 15,697	$ 13,760
Interest and dividends on debt securities available-for-sale	169	258
Interest on short-term investments	23	71
Total interest and dividend income	15,889	14,089
Interest expense:
Interest on deposits	911	1,646
Interest on borrowings	70	371
Total interest expense	981	2,017
Net interest and dividend income	14,908	12,072
Provision for loan losses	753	3,099
Net interest and dividend income after provision for loan losses	14,155	8,973
Noninterest income:
Customer service fees on deposit accounts	379	352
Service charges and fees - other	350	460
Bank owned life insurance income	219	179
Other income	70	19
Total noninterest income	1,018	1,010
Noninterest expense:
Salaries and employee benefits	6,477	5,402
Occupancy expense	412	441
Equipment expense	122	137
Deposit insurance	106	31
Data processing	321	225
Marketing expense	37	64
Professional fees	431	386
Directors' compensation	254	194
Software depreciation and implemenation	246	200
Write down of other assets and receivables		500
Other	807	726
Total noninterest expense	9,213	8,306
Income before income tax expense	5,960	1,677
Income tax expense	1,663	446
Net income	$ 4,297	$ 1,231
Earnings per share:
Basic	$ 0.25	$ 0.07
Diluted	$ 0.24	$ 0.07
Weighted Average Shares:
Basic	17,263,759	18,115,970
Diluted	17,558,160	18,261,282

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 4,297	$ 1,231
Other comprehensive income:
Unrealized holding (losses) gains arising during the period on debt securities available-for-sale	(244)	10
Unrealized gain	(244)	10
Income tax effect	59	(27)
Total other comprehensive loss	(185)	(17)
Comprehensive income	$ 4,112	$ 1,214

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Unearned Compensation ESOP [Member]	Total
Balance at Dec. 31, 2019	$ 195	$ 146,174	$ 94,159	$ 458	$ (10,053)	$ 230,933
Balance (in shares) at Dec. 31, 2019	19,473,818
Net income			1,231			1,231
Other comprehensive loss				(17)		(17)
Stock-based compensation expense, net of forfeitures		261				261
Restricted stock award grant forfeiture (in shares)	2,430
ESOP shares earned		65			185	250
Balance at Mar. 31, 2020	$ 195	146,500	95,390	441	(9,868)	232,658
Balance (in shares) at Mar. 31, 2020	19,476,248
Balance at Dec. 31, 2020	$ 191	139,450	104,508	1,058	(9,351)	235,856
Balance (in shares) at Dec. 31, 2020	19,047,544
Net income			4,297			4,297
Dividends declared			(532)			(532)
Other comprehensive loss				(185)		(185)
Stock-based compensation expense, net of forfeitures		604				604
Repurchase of common stock	$ (5)	(6,177)				(6,182)
Repurchase of common stock (in shares)	(473,215)
Shares surrendered related to tax withholdings on restricted stock awards		(2)				(2)
Shares surrendered related to tax withholdings on restricted stock awards (in shares)	(202)
ESOP shares earned		106			180	286
Balance at Mar. 31, 2021	$ 186	$ 133,981	$ 108,273	$ 873	$ (9,171)	$ 234,142
Balance (in shares) at Mar. 31, 2021	18,574,127

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2021$ / shares
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Abstract]
Dividends declared, per share	$ 0.03

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 4,297	$ 1,231
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities premiums, net of accretion	51	78
ESOP expense	286	250
Change in deferred loan fees, net	864	494
Provision for loan losses	753	3,099
Depreciation and amortization	252	266
Increase in accrued interest receivable	(85)	(132)
Deferred tax benefit	(634)
Share-based compensation expense	604	261
Bank owned life insurance income	(219)	(179)
Principal repayments of operating lease obligations	(25)	(15)
(Increase) decrease in other assets	(419)	25
Increase (decrease) in other liabilities	54	(1,275)
Net cash provided by operating activities	5,779	4,103
Cash flows from investing activities:
Purchases of debt securities available-for-sale	(5,038)
Proceeds from pay downs, maturities and calls of debt securities available-for-sale	2,329	2,641
Purchase of Federal Home Loan Bank stock		(1,320)
Loan originations and purchases, net of paydowns	5,057	(106,917)
Cash paid for mortgage warehouse asset purchase, net		(66,962)
Additions to premises and equipment	(153)	(420)
Net cash used in investing activities	2,195	(172,978)
Cash flows from financing activities:
Net increase in noninterest-bearing accounts	47,949	22,639
Net (decrease) in interest-bearing accounts	(153)	20,988
Repurchase of common stock	(6,182)
Cash dividends paid on common stock	(532)
Net change in short-term borrowings		100,012
Shares surrendered related to tax withholdings on restricted stock awards	(2)
Net cash provided by financing activities	41,080	143,639
Net increase (decrease) in cash and cash equivalents	49,054	(25,236)
Cash and cash equivalents at beginning of period	83,819	59,658
Cash and cash equivalents at end of period	132,873	34,422
Supplemental disclosures:
Interest paid	981	2,017
Income taxes paid	$ 423	329
Reclassification of premises and equipment to other assets		3
Recognition of right-of-use assets		693
Recognition of operating lease liabilities		$ 693

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation The accompanying unaudited financial statements of Provident Bancorp, Inc., a Maryland 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-month period ended March 31, 2021 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. Certain amounts in 2020 have been reclassified to be consistent with the 2021 consolidated financial statement presentation and had no effect on the net income reported in the consolidated statements 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 (the “SEC”) on March 26, 2021. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary, The Provident Bank (“BankProv” or 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	3 Months Ended
	Mar. 31, 2021
Corporate Structure [Abstract]
Corporate Structure	(2) Corporate Structure The Company is a Maryland corporation whose primary purpose is to act as the holding company for the Bank. 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 two loan production offices in Boston, Massachusetts and Ponte Vedra, Florida. Our primary deposit products are checking, savings and term certificate accounts and our primary lending products are commercial mortgages and commercial loans. BankProv is a commercial bank for corporate clients, specializing in offering adaptive and technology-first banking solutions to niche markets, including cryptocurrency, renewable energy, fin-tech and search fund lending.

COVID-19

COVID-19	3 Months Ended
	Mar. 31, 2021
COVID-19 [Abstract]
COVID-19	(3) COVID-19 Since the distribution of COVID-19 vaccinations began in December, significant progress has been made to combat the spread of the virus and as a result, there has been an uptick in economic activity, particularly those industries that had been most heavily impacted by the economic downturn caused by the COVID-19 pandemic. Despite the progress, COVID-19 has caused significant disruption in the U.S. economy and has adversely impacted a broad range of industries in which the Company’s customers operate which could impair their ability to fulfill their financial obligations. It is not possible to know the full extent of these impacts as of the date of this filing, detailed below are potentially material items of which we are aware. Congress, the President, and the Board of Governors of the Federal Reserve System (the “Federal Reserve”) have taken several actions designed to cushion the economic fallout. Most notably, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), a $2 trillion legislative package, was signed into law at the end of March 2020. The goal of the CARES Act is to prevent a severe economic downturn through various measures, including direct financial aid to American families and economic stimulus to significantly impacted industry sectors. Section 4013 of the CARES Act, “Temporary Relief from Troubled Debt Restructurings,” provides banks the option to temporarily suspend certain requirements under U.S. GAAP related to trouble debt restructurings (TDR) for a limited period of time to account for the effects of COVID-19. Additionally, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was enacted on December 27, 2020, providing for a second round of PPP loans (“PPP-2”). Also on December 27, 2020, the Consolidated Appropriations Act (“CAA”) was signed into law. Section 541 of the CAA extends the provision in Section 4013 of the CARES Act, “Temporary Relief from Troubled Debt Restructurings”, to January 1, 2022. The Federal Reserve also took actions to mitigate the economic impact of the COVID-19 pandemic, including cutting the federal funds rate 150 basis points and targeting a 0 to 25 basis point rate. In addition to the general impact of the COVID-19 pandemic, certain provisions of the CARES Act as well as other legislative and regulatory relief efforts are expected to have a material impact on the Company’s operations. The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the Economic Aid Act) amended the PPP by extending the authority of the SBA to guarantee loans and the ability of PPP lenders to disburse PPP loans until March 31, 2021. The PPP Extension Act of 2021, which was enacted on March 30, 2021, extends the PPP application deadline to May 31, 2021, and provides the SBA additional time to process applications through June 30, 2021. Financial position and results of operations In keeping with the guidance from regulators, the Company continues to work with COVID-19 affected customers to waive fees from a variety of sources, such as, but not limited to, insufficient funds, account maintenance, minimum balance, and ATM fees. These reductions in fees are thought to be temporary in conjunction with the length of the expected COVID-19 related economic crisis. Management continues to monitor and measure the impact on its assets and operations. In addition, the Company is actively working with COVID-19 affected borrowers, in accordance with the guidance from regulators, to defer payments, interest and fees. Management continues to monitor and measure the impact and potential future impact on operations. Allowance for loan losses Continued uncertainty regarding the severity and duration of the COVID-19 pandemic and related economic effects will continue to affect the accounting for credit losses, which could cause the provision for loan losses to increase. It also is possible that asset quality could worsen, expenses associated with collection efforts could increase and loan charge-offs could increase. The Company is actively participating in the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”), providing loans to small businesses negatively impacted by the COVID-19 pandemic. PPP loans are fully guaranteed by the U.S. government; if that should change, the Company could be required to increase its allowance for loan losses through an additional provision for loan losses charged to earnings. In accordance with guidance issued by federal banking agencies, the Company is actively working with borrowers that may be unable to meet contractual obligations due to the effects of COVID-19 by providing modifications to allow for deferral of interest or principal and interest payments on an as-needed and case-by-case basis. In order to mitigate the risk associated with these modifications the Company has incorporated covenants that require borrowers to submit quarterly financial statements, prohibit them from distributing funds to any owner or stockholder (with the exception of payroll) and also prohibit them from making any payments on debt owed to subordinated debt holders for the duration of their modification. If borrowers are unable to return to their normal payment plan following their modification period, the Company could be required to increase its allowance for loan losses through an additional provision for loan losses charged to earnings. Valuation Valuation and fair value measurement challenges may occur. For example, COVID-19 could cause a further and sustained decline in the financial markets or the occurrence of what management would deem a valuation triggering event that could result in an impairment charge to earnings, such as our investment securities.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	(4) Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 the current “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 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 eliminated, added and modified certain disclosure requirements for fair value measurements. Among the changes, entities are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The Company adopted the provision of ASU 2018-13 effective January 1, 2020 and the adoption did not have a material impact on the consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes (“ASU 2019-12”) . This ASU simplifies the accounting for income taxes and is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. Certain provisions under ASU 2019-12 require prospective application, some require modified retrospective application through a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption, while other provisions require retrospective application to all periods presented in the consolidated financial statements upon adoption. The Company adopted the provision of ASU 2019-12 effective January 1, 2021 and the adoption did not have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) , to ease the potential burden in accounting for recognizing the effects of reference rate reform on financial reporting. Such challenges include the accounting and operational implications for contract modifications and hedge accounting. The provisions in ASU 2020-04 provide optional expedients and exceptions for applying GAAP to loan and lease agreements, contracts, hedging relationships, and other transactions affected by reference rate reform. These provisions apply to contract modifications that reference LIBOR or another reference rate expected to be discounted because of reference rate reform. Qualifying modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification would be considered "minor" so that any existing unamortized deferred loan origination fees and costs would carry forward and continue to be amortized. Qualifying modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for hedge accounting. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022, with adoption permitted as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected, the amendments must be applied prospectively for all eligible contract modifications. The Company is currently evaluating the effect that this ASU will have on the Company’s consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-08, Receivables (Topic 310) – Nonrefundable Fees and Other Costs (“ASU 2020-08”) , to provide further clarification and update the previously issued guidance in ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) Premium Amortization on Purchased Callable Debt Securities” (“ASU 2017-08”) . ASU 2017-08 shortened the amortization period for certain callable debt securities purchased at a premium by requiring that the premium be amortized to the earliest call date. The Company early adopted the provisions of ASU 2017-08, effective January 1, 2017. ASU 2017-08 requires that at each reporting period, to the extent that the amortized cost of an individual callable debt security exceeds the amount repayable by the issuer at the next call date, the excess premium should be amortized to the next call date. ASU 2020-08 is effective for fiscal years ending after December 15, 2020 and early adoption was not permitted. The provisions under ASU 2020-08 are required to be applied prospectively. The Company adopted the provision of ASU 2020-08 effective January 1, 2021 and the adoption did not have a material impact on the consolidated financial statements.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2021
Investment Securities [Abstract]
Investment Securities	(5) Investment Securities The following summarizes the amortized cost and fair value of securities available-for-sale at March 31, 2021 and December 31, 2020 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: Amortized Gross Gross Cost Unrealized Unrealized Fair (In thousands) Basis Gains Losses Value March 31, 2021 State and municipal securities $ 9,872 $ 538 $ — $ 10,410 Asset-backed securities 9,235 196 — 9,431 Government mortgage-backed securities 14,366 430 8 14,788 Total debt securities available-for-sale $ 33,473 $ 1,164 $ 8 $ 34,629 December 31, 2020 State and municipal securities $ 10,211 $ 683 $ — $ 10,894 Asset-backed securities 4,432 278 — 4,710 Government mortgage-backed securities 16,172 449 10 16,611 Total debt securities available-for-sale $ 30,815 $ 1,410 $ 10 $ 32,215 The scheduled maturities of debt securities at March 31, 2021 are summarized in the table below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be repaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary. Available-for-Sale Amortized Fair (In thousands) Cost Value Due after one year through five years $ 591 $ 636 Due after five years through ten years 912 917 Due after ten years 8,369 8,857 Government mortgage-backed securities 14,366 14,788 Asset-backed securities 9,235 9,431 $ 33,473 $ 34,629 There were no realized gains or losses on sales and calls during the three months ended March 31, 2021 or March 31, 2020. Securities with carrying amounts of $ 19.2 million and $ 21.3 million were pledged to secure available borrowings with the Federal Reserve Bank and Federal Home Loan Bank at March 31, 2021 and December 31, 2020, respectively. Other-than-temporary impairment assessment: Management assesses whether the decline in fair value of investment securities is other-than-temporary on a regular basis. Unrealized losses on debt securities may occur from current market conditions, increases in interest rates since the time of purchase, a structural change in an investment, volatility of earnings of a specific issuer, or deterioration in credit quality of the issuer. Management evaluates impairments in value both qualitatively and quantitatively to assess whether they are other-than-temporary. 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 March 31, 2021 and December 31, 2020: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses March 31, 2021 Temporarily impaired securities: Government mortgage-backed securities $ — $ — $ 750 $ 8 $ 750 $ 8 Total temporarily impaired debt securities $ — $ — $ 750 $ 8 $ 750 $ 8 December 31, 2020 Temporarily impaired securities: Government mortgage-backed securities $ — $ — $ 817 $ 10 $ 817 $ 10 Total temporarily impaired debt securities $ — $ — $ 817 $ 10 $ 817 $ 10 Government mortgage-backed securities : The gross unrealized losses on government mortgage-backed securities were primarily attributable to relative changes in interest rates since the time of purchase. Management believes that the unrealized losses on these debt security holdings are a function of changes in investment spreads and interest rate movements and not changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. Furthermore, the Company does not intend to sell these securities and it is not more-likely-than-not that the Company will be required to sell these securities before recovery of their cost basis, which may be maturity. Therefore, management does not consider these investments to be other-than-temporarily impaired at March 31, 2021.

Loans

Loans	3 Months Ended
	Mar. 31, 2021
Loans [Abstract]
Loans	(6) Loans A summary of loans is as follows: At At March 31, December 31, (In thousands) 2021 2020 Commercial real estate $ 435,034 $ 438,949 Commercial (1) 585,352 565,976 Residential real estate 29,901 32,785 Construction and land development 33,778 28,927 Consumer 4,136 5,547 Mortgage warehouse 244,066 265,379 1,332,267 1,337,563 Allowance for loan losses ( 19,032 ) ( 18,518 ) Deferred loan fees, net (2) ( 5,099 ) ( 4,235 ) Net loans $ 1,308,136 $ 1,314,810 (1) Includes $ 57.5 million and $ 41.8 million in PPP loans at March 31, 2021 and December 31, 2020, respectively. (2) Includes $ 1.7 million and $ 933,000 in deferred fees related to PPP loans at March 31, 2021 and December 31, 2020, respectively. The following tables set forth information regarding the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2021 and 2020: (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Unallocated Total Allowance for loan losses: Balance at December 31, 2020 $ 6,095 $ 10,543 $ 184 $ 447 $ 586 $ 663 $ — $ 18,518 Charge-offs ( 150 ) ( 43 ) — — ( 156 ) — — ( 349 ) Recoveries 81 — — — 29 — — 110 Provision (credit) 76 1,012 ( 29 ) 5 ( 14 ) ( 297 ) — 753 Balance at March 31, 2021 $ 6,102 $ 11,512 $ 155 $ 452 $ 445 $ 366 $ — $ 19,032 Balance at December 31, 2019 $ 6,104 $ 6,086 $ 254 $ 749 $ 650 $ — $ 1 $ 13,844 Charge-offs — ( 97 ) — — ( 229 ) — — ( 326 ) Recoveries — 7 4 — 46 — — 57 Provision (credit) 395 1,765 ( 45 ) 40 582 296 66 3,099 Balance at March 31, 2020 $ 6,499 $ 7,761 $ 213 $ 789 $ 1,049 $ 296 $ 67 $ 16,674 The following table sets forth information regarding the allowance for loan losses and related loan balances by portfolio segment at March 31, 2021 and December 31, 2020: (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total March 31, 2021 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 3,410 $ — $ — $ — $ — $ 3,410 Ending balance: Collectively evaluated for impairment 6,102 8,102 155 452 445 366 15,622 Total allowance for loan losses ending balance $ 6,102 $ 11,512 $ 155 $ 452 $ 445 $ 366 $ 19,032 Loans (1): Ending balance: Individually evaluated for impairment $ 20,886 $ 6,713 $ 161 $ — $ — $ — $ 27,760 Ending balance: Collectively evaluated for impairment 414,148 578,639 29,740 33,778 4,136 244,066 1,304,507 Total loans ending balance $ 435,034 $ 585,352 $ 29,901 $ 33,778 $ 4,136 $ 244,066 $ 1,332,267 (1) Balances represent gross loans. The difference between gross loans versus recorded investment, which would consist of unpaid principal balance, net of charge-offs, interest payments received applied to principal and unamortized deferred loan origination fees and costs, is not material. (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total December 31, 2020 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 2,024 $ — $ — $ — $ — $ 2,024 Ending balance: Collectively evaluated for impairment 6,095 8,519 184 447 586 663 16,494 Total allowance for loan losses ending balance $ 6,095 $ 10,543 $ 184 $ 447 $ 586 $ 663 $ 18,518 Loans (1): Ending balance: Individually evaluated for impairment $ 21,039 $ 4,458 $ 162 $ — $ — $ — $ 25,659 Ending balance: Collectively evaluated for impairment 417,910 561,518 32,623 28,927 5,547 265,379 1,311,904 Total loans ending balance $ 438,949 $ 565,976 $ 32,785 $ 28,927 $ 5,547 $ 265,379 $ 1,337,563 (1) Balances represent gross loans. The difference between gross loans versus recorded investment, which would consist of unpaid principal balance, net of charge-offs, interest payments received applied to principal and unamortized deferred loan origination fees and costs, is not material. The following tables set forth information regarding non-accrual loans and loan delinquencies by portfolio segment at March 31, 2021 and December 31, 2020: 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 March 31, 2021 Commercial real estate $ — $ — $ — $ — $ 435,034 $ 435,034 $ — $ — Commercial 53 — 247 300 585,052 585,352 — 6,469 Residential real estate 80 345 747 1,172 28,729 29,901 — 969 Construction and land development — — — — 33,778 33,778 — — Consumer 4 26 16 46 4,090 4,136 — 17 Mortgage warehouse — — — — 244,066 244,066 — — Total $ 137 $ 371 $ 1,010 $ 1,518 $ 1,330,749 $ 1,332,267 $ — $ 7,455 December 31, 2020 Commercial real estate $ — $ — $ — $ — $ 438,949 $ 438,949 $ — $ — Commercial 4,358 — 291 4,649 561,327 565,976 — 4,198 Residential real estate 255 346 1,030 1,631 31,154 32,785 — 1,156 Construction and land development — — — — 28,927 28,927 — — Consumer 61 21 64 146 5,401 5,547 — 65 Mortgage warehouse — — — — 265,379 265,379 — — Total $ 4,674 $ 367 $ 1,385 $ 6,426 $ 1,331,137 $ 1,337,563 $ — $ 5,419 The following tables provide information with respect to the Company’s impaired loans: March 31, 2021 December 31, 2020 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: Commercial real estate $ 20,886 $ 21,108 $ — $ 21,039 $ 21,312 $ — Commercial 473 512 — 434 441 — Residential real estate 161 161 — 162 162 — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with no related allowance 21,520 21,781 — 21,635 21,915 — With an allowance recorded: Commercial real estate — — — — — — Commercial 6,240 6,910 3,410 4,024 4,605 2,024 Residential real estate — — — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with an allowance recorded 6,240 6,910 3,410 4,024 4,605 2,024 Total Commercial real estate 20,886 21,108 — 21,039 21,312 — Commercial 6,713 7,422 3,410 4,458 5,046 2,024 Residential real estate 161 161 — 162 162 — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired loans $ 27,760 $ 28,691 $ 3,410 $ 25,659 $ 26,520 $ 2,024 Three Months Ended March 31, 2021 2020 Average Interest Average Interest Recorded Income Recorded Income (In thousands) Investment Recognized Investment Recognized With no related allowance recorded: Commercial real estate $ 20,961 $ 183 $ 2,041 $ 19 Commercial 502 3 694 6 Residential real estate 162 2 165 3 Construction and land development — — 165 — Consumer — — — — Mortgage warehouse — — — — Total impaired with no related allowance 21,625 188 3,065 28 With an allowance recorded: Commercial real estate — — 20,403 211 Commercial 6,295 2 2,480 1 Residential real estate — — — — Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with an allowance recorded 6,295 2 22,883 212 Total Commercial real estate 20,961 183 22,444 230 Commercial 6,797 5 3,174 7 Residential real estate 162 2 165 3 Construction and land development — — 165 — Consumer — — — — Mortgage warehouse — — — — Total impaired loans $ 27,920 $ 190 $ 25,948 $ 240 Troubled debt restructurings: Loans are considered to be troubled debt restructurings (“TDRs”) when the Company has granted concessions to a borrower due to the borrower’s financial condition that it otherwise would not have considered. These concessions may include modifications of the terms of the debt such as deferral of payments, extension of maturity, reduction of principal balance, reduction of the stated interest rate other than normal market rate adjustments, or a combination of these concessions. Debt may be bifurcated with separate terms for each tranche of the restructured debt. Restructuring of a loan in lieu of aggressively enforcing the collection of the loan may benefit the Company by increasing the ultimate probability of collection. Restructured loans are classified as accruing or non-accruing based on management’s assessment of the collectability of the loan. Loans which are already on nonaccrual status at the time of the restructuring generally remain on nonaccrual status for approximately six months before management considers such loans for return to accruing status. Accruing restructured loans are placed into nonaccrual status if and when the borrower fails to comply with the restructured terms and management deems it unlikely that the borrower will return to a status of compliance in the near term. TDRs are reported as such for at least one year from the date of the restructuring. In years after the restructuring, TDRs are removed from this classification if the restructuring did not involve a below-market rate concession and the loan is not deemed to be impaired based on the terms specified in the restructuring agreement. The following tables summarize TDRs entered into during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (Dollars in thousands) Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled debt restructurings: Commercial 3 $ 1,868 $ 1,868 7 $ 18,646 $ 20,146 3 $ 1,868 $ 1,868 7 $ 18,646 $ 20,146 During the three months ended March 31, 2021, the Company approved three TDRs all related to one commercial relationship. A troubled debt restructuring was completed to provide the borrower with a three month principal and interest deferral through April 2021. As of December 31, 2020, this loan was deemed impaired, placed on non-accrual status and specific reserves of $ 1.8 million were allocated. During the three months ended March 31, 2021 the specific reserves were reduced to $ 1.7 million due to a decrease in the loan balance. As of March 31, 2021, this commercial relationship remained on non-accrual status. During the three months ended March 31, 2020, the Company approved seven TDRs for one commercial real estate loan relationship totaling $ 20.1 million. The Bank analyzed the relationship and modified the relationship as follows:  $ 16.5 million was placed on interest-only payments for three years at a reduced rate;  $ 2.1 million was restructured to amortize and pay out over a 10 -year term at a reduced rate; and  $ 1.5 million was advanced for necessary capital expenditures. The advance was placed on interest-only payments for three years at a reduced rate. Upon completion of the restructuring in the first quarter of 2020, the commercial relationship was placed on non-accrual status and after demonstrating the ability to pay the loan under the restructured terms, it was taken off non-accrual status in the fourth quarter of 2020 and specific reserves of $ 1.2 million were removed due to sufficient collateral. As of March 31, 2021, these loans were paying in accordance with the restructured terms and no new specific reserves have been attributed to the relationship. The total recorded investment in TDRs was $ 23.3 million at March 31, 2021 and December 31, 2020. As of March 31, 2021, there were no significant commitments to lend additional funds to borrowers whose loans had been restructured. Additionally, the Company is working with borrowers impacted by COVID-19 and providing modifications to allow for deferral of interest or principal and interest payments on an as-needed and case-by-case basis. These modifications are excluded from troubled debt restructuring classification under Section 4013 of the CARES Act or under applicable interagency guidance of the federal banking regulators. As previously noted, loan modifications and payment deferrals as a result of COVID-19 that meet the criteria established under Section 4013 of the CARES Act or under applicable interagency guidance of the federal banking regulators are excluded from evaluation of TDR classification and will continue to be reported as current during the payment deferral period. The Company’s policy is to continue to accrue interest during the deferral period. Loans not meeting the CARES Act or regulatory guidance are evaluated for TDR and non-accrual treatment under the Company’s existing policies and procedures. Loan modifications made pursuant to the CARES Act or interagency guidance that were in payment deferral at March 31, 2021 and December 31, 2020 totaled approximately $ 44.4 million and $ 44.0 million, respectively. At March 31, 2021, there were eight commercial real estate loans that amounted to $ 16.0 million, 26 commercial and industrial loans that amounted to $ 19.1 million, and one construction loan that amounted to $ 9.3 million that were in payment deferral pursuant to the CARES Act or interagency guidance. There were no consumer, residential or mortgage warehouse loans that were in payment deferral at March 31, 2021 based on modifications made pursuant to the CARES Act or interagency guidance. At December 31, 2020 there were eight commercial real estate loans that amounted to $ 12.4 million, 28 commercial and industrial loans that amounted to $ 22.4 million, one construction and land development loan that amounted to $ 9.0 million, and one residential mortgage loan that amounted to $ 177,000 that were in payment deferral pursuant to the CARES Act or interagency guidance. There were no consumer or mortgage warehouse loans that were in payment deferral at December 31, 2020 based on modifications made pursuant to the CARES Act or interagency guidance. The following tables present the Company’s loans by risk rating and portfolio segment at March 31, 2021 and December 31, 2020: (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total March 31, 2021 Grade: Pass $ 399,075 $ 551,157 $ — $ 32,740 $ — $ 244,066 $ 1,227,038 Special mention 16,253 16,679 — — — — 32,932 Substandard 19,706 13,211 962 1,038 — — 34,917 Doubtful — 4,305 — — — — 4,305 Not formally rated — — 28,939 — 4,136 — 33,075 Total $ 435,034 $ 585,352 $ 29,901 $ 33,778 $ 4,136 $ 244,066 $ 1,332,267 December 31, 2020 Grade: Pass $ 401,541 $ 538,449 $ — $ 28,927 $ — $ 265,379 $ 1,234,296 Special mention 17,702 13,625 — — — — 31,327 Substandard 19,706 13,902 1,560 — — — 35,168 Not formally rated — — 31,225 — 5,547 — 36,772 Total $ 438,949 $ 565,976 $ 32,785 $ 28,927 $ 5,547 $ 265,379 $ 1,337,563 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. On an annual basis, or more often if needed, the Company completes a credit recertification on all mortgage warehouse originators. 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. Ongoing monitoring is based upon the borrower’s payment activity. Consumer loans are not formally rated.

Deposits

Deposits	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Deposits	(7) Deposits A summary of deposit balances, by type is as follows: March 31, December 31, (In thousands) 2021 2020 NOW and demand $ 584,684 $ 554,095 Regular savings 155,399 151,341 Money market deposits 386,842 353,793 Total non-certificate accounts 1,126,925 1,059,229 Certificate accounts of $250,000 or more 5,186 5,167 Certificate accounts less than $250,000 153,113 173,032 Total certificate accounts 158,299 178,199 Total deposits $ 1,285,224 $ 1,237,428

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2021
Borrowings [Abstract]
Borrowings	(8) Borrowings Advances consist of funds borrowed from the Federal Home Loan Bank (the “FHLB”). Maturities of advances from the FHLB as of March 31, 2021 are summarized as follows: (In thousands) Fiscal Year-End 2023 $ 8,500 2025 5,000 Total $ 13,500 Borrowings from the FHLB, which aggregated $ 13.5 million at March 31, 2021, 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 loans and qualified mortgage-backed government securities. The interest rates on FHLB advances ranged from 1.21 % to 3.01 %, and the weighted average interest rate on FHLB advances was 2.11 % at March 31, 2021. All the FHLB borrowings at March 31, 2021 are long-term with an original maturity of more than one year .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	(9) 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. The Company used the following methods and significant assumptions to estimate fair value: Cash and cash equivalents : The carrying amounts of cash and cash equivalents approximate fair values. Debt Securities Available-For-Sale : Fair values for investments are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments or pricing models. See Note 15 for further details. Loans receivable : Fair values are based on an exit price notion in which an orderly transaction would take place between market participants at the measurement date under current market conditions. Accrued interest receivable : The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities : The fair values disclosed for deposits (e.g., interest and non-interest checking, savings, and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Borrowings : Fair values of Federal Reserve Bank (“FRB”) Discount Window and Federal Home Loan Bank advances are estimated using discounted cash flow analyses based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Off-balance sheet instruments : The fair value of commitments to originate loans is estimated using the fees currently charged to enter similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments and the unadvanced portions of loans, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligation with the counterparties at the reporting date. Fair Values of Assets Measured on a Recurring Basis The Company’s investments in state and municipal, asset-backed and government mortgage-backed debt securities available-for-sale 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 March 31, 2021 and December 31, 2020: Fair Value Measurements at Reporting Date Using Significant Significant Other Observable Unobservable Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 March 31, 2021 State and municipal securities $ 10,410 $ — $ 10,410 $ — Asset-backed securities 9,431 — 9,431 — Mortgage-backed securities 14,788 — 14,788 — Totals $ 34,629 $ — $ 34,629 $ — December 31, 2020 State and municipal securities $ 10,894 $ — $ 10,894 $ — Asset-backed securities 4,710 — 4,710 — Mortgage-backed securities 16,611 — 16,611 — Totals $ 32,215 $ — $ 32,215 $ — Fair Values of Assets Measured on a Non-Recurring Basis The Company may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from the application of lower-of-cost-or market accounting or write-downs of individual assets. Certain impaired loans were adjusted to fair value, less cost to sell, of the underlying collateral securing these loans resulting in losses. The loss is not recorded directly as an adjustment to current earnings, but rather as a component in determining the allowance for loan losses. Fair value was measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties. The following summarizes assets measured at fair value on a nonrecurring basis at March 31, 2021 and December 31, 2020: 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 March 31, 2021 Impaired loans Commercial $ 2,830 $ — $ — $ 2,830 Totals $ 2,830 $ — $ — $ 2,830 December 31, 2020 Impaired loans Commercial $ 2,000 — $ — $ 2,000 Totals $ 2,000 $ — $ — $ 2,000 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 March 31, 2021 and December 31, 2020: (In thousands) Fair Value Valuation Technique Unobservable Input Range March 31, 2021 Impaired loans Commercial $ 2,830 Business valuation Comparable company evaluations 5 % - 10 % December 31, 2020 Impaired loans Commercial $ 2,000 Business valuation Comparable company evaluations — The carrying amount of impaired commercial loans measured at fair value on a nonrecurring basis was $ 6.2 million and $ 4.0 million with specific reserves of $ 3.4 million and $ 2.0 million at March 31, 2021 and December 31, 2020, respectively. Fair Values 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 March 31, 2021 and December 31, 2020: Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total March 31, 2021 Financial assets: Cash and cash equivalents $ 132,873 $ 132,873 $ — $ — $ 132,873 Available-for-sale debt securities 34,629 — 34,629 — 34,629 Federal Home Loan Bank of Boston stock 895 N/A N/A N/A N/A Loans, net 1,308,136 — — 1,316,830 1,316,830 Accrued interest receivable 6,456 — 6,456 — 6,456 Financial liabilities: Deposits 1,285,224 — 1,285,513 — 1,285,513 Borrowings 13,500 — 13,957 — 13,957 December 31, 2020 Financial assets: Cash and cash equivalents $ 83,819 $ 83,819 $ — $ — $ 83,819 Available-for-sale debt securities 32,215 — 32,215 — 32,215 Federal Home Loan Bank of Boston stock 895 N/A N/A N/A N/A Loans, net 1,314,810 — — 1,321,143 1,321,143 Accrued interest receivable 6,371 — 6,371 — 6,371 Financial liabilities: Deposits 1,237,428 — 1,237,867 — 1,237,867 Borrowings 13,500 — 14,016 — 14,016

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2021
Regulatory Capital [Abstract]
Regulatory Capital	(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. The Bank is subject to capital regulations that require a 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. 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 March 31, 2021 and December 31, 2020, the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. Applicable 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. At March 31, 2021, the Bank exceeded the regulatory requirement for the capital conservation buffer. In September 2019, the federal banking agencies adopted a final rule to implement Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, effective January 1, 2020, establishing a community bank leverage ratio (“CBLR”) framework for community banking organizations having total consolidated assets of less than $ 10 billion, having a leverage ratio of greater than 9 %, and satisfying other criteria, such as limitations on the amount of off-balance sheet exposures and on trading assets and liabilities. A community banking organization that qualifies for and elects to use the CBLR framework and that maintains a leverage ratio of greater than 9 % will be considered to have satisfied the generally applicable risk-based and leverage capital requirements in the banking agencies’ generally applicable capital rules and, if applicable, will be considered to have met the well-capitalized ratio requirements for purposes of Section 38 of the Federal Deposit Insurance Act. The CARES Act temporarily lowered the community bank leverage ratio to 8 % through 2020. The CBLR requirement transitioned from 8 % to 8.5 % for calendar year 2021 and will transition to 9 % beginning in 2022. As of March 31, 2021, the Bank has not opted into the CBLR framework. 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 March 31, 2021 Total Capital (to Risk Weighted Assets) $ 204,328 15.17 % $ 107,741 > 8.0 % $ 134,676 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 187,467 13.92 80,805 > 6.0 107,741 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 187,467 13.92 60,604 > 4.5 87,539 > 6.5 Tier 1 Capital (to Average Assets) 187,467 12.28 61,074 > 4.0 76,343 > 5.0 December 31, 2020 Total Capital (to Risk Weighted Assets) $ 199,377 14.60 % $ 109,273 > 8.0 % $ 136,591 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 182,286 13.35 81,955 > 6.0 109,273 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 182,286 13.35 61,466 > 4.5 88,784 > 6.5 Tier 1 Capital (to Average Assets) 182,286 12.37 58,926 > 4.0 73,658 > 5.0 Liquidation Accounts Upon the completion of the Company’s initial stock offering in 2015 and the second step offering in 2019, liquidation accounts were established for the benefit of certain depositors of the Bank in amounts equal to: 1. The percentage ownership interest in the equity of the Company prior to the initial stock offering held by persons other than MHC as of the date of the latest balance sheet contained in the prospectus utilized in connection with the offering. 2. The MHC’s ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the 2019 prospectus plus the MHC’s net assets (excluding its ownership of the Company). The Company and the Bank are not permitted to pay dividends on their capital stock if the shareholders’ equity of the Company, or the shareholder’s equity of the Bank, would be reduced below the amount of the respective 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. Other Restrictions The Company’s principal source of funds for dividend payments is dividends received from the Bank. Federal and state banking regulations restrict the amount of dividends that may be paid in a year, without prior approval of regulatory agencies, to the net income of the Bank for the year plus the retained net income of the previous two years. For the three months ended March 31, 2021 net income of the Bank was $ 4.3 million and for the years ended December 31, 2020 and 2019, $ 12.1 million and $ 10.7 million, respectively, of retained earnings was available to pay dividends. For the three months ended March 31, 2020 net income of the Bank was $ 1.2 million and for the years ended December 31, 2019 and 2018, $ 10.7 million and $ 9.3 million, respectively, of retained earnings was available to pay dividends. The Company may, at times, repurchase its own shares in the open market. Such transactions are subject to the Federal Reserve Board’s notice provisions for stock repurchases. In October 2020, the Company announced its plan to repurchase 1,000,000 shares of its common stock. The repurchase program was adopted following the receipt of non-objection from the Federal Reserve Bank of Boston, and in compliance with applicable state and federal regulations. The Company completed the repurchase of 1,000,000 shares of its common stock under this repurchase program in February 2021. In March 2021, the Company announced its plan to repurchase 1,400,000 shares of its common stock. The repurchase program was adopted following the receipt of non-objection from the Federal Reserve Bank of Boston, and in compliance with applicable state and federal regulations. During the three months ended March 31, 2021, the Company had repurchased 473,215 shares of its outstanding common stock under these programs.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Mar. 31, 2021
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	(11) Employee Stock Ownership Plan The Bank established an ESOP to provide eligible employees the opportunity to own company stock. The plan is a tax-qualified plan for the benefit of all Bank employees. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax law limits. The ESOP acquired a total of 1,538,868 shares between the initial and second-step stock offerings with the proceeds of a loan totaling $ 11.8 million. The loan is payable over 15 years at a rate per annum equal to the prime rate ( 3.25 % as of December 31, 2020). Shares used as collateral to secure the loan are released and available for allocation to eligible employees as the principal and interest on the loan is paid. The number of shares committed to be released per year through 2033 is 89,757 . Shares held by the ESOP include the following: March 31, 2021 December 31, 2020 Allocated 372,014 282,256 Committed to be allocated 22,439 89,758 Unallocated 1,144,415 1,166,854 Total 1,538,868 1,538,868 The fair value of unallocated shares was approximately $ 16.5 million at March 31, 2021. Total compensation expense recognized in connection with the ESOP for the three months ended March 31, 2021 and 2020 was $ 286,000 and $ 250,000 , respectively.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Common Share [Abstract]
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 March 31, (Dollars in thousands, except per share amounts) 2021 2020 Net Income attributable to common shareholders $ 4,297 $ 1,231 Average number of common shares issued 18,774,844 19,476,248 Less: average unallocated ESOP shares ( 1,151,892 ) ( 1,241,654 ) average unvested restricted stock ( 359,193 ) ( 118,624 ) Average number of common shares outstanding to calculate basic earnings per common share 17,263,759 18,115,970 Effect of dilutive unvested restricted stock and stock option awards 294,401 145,312 Average number of common shares outstanding to calculate diluted earnings per common share 17,558,160 18,261,282 Earnings per common share: Basic $ 0.25 $ 0.07 Diluted $ 0.24 $ 0.07 Stock options for 902,505 and 69,998 shares of common stock were not considered in computing diluted earnings per common share for the three months ended March 31, 2021 and 2020, respectively, because they were antidilutive, meaning the exercise price for such options were higher than the average price for the Company for such period.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2021
Stock-Based Compensation [Abstract]
Share-Based Compensation	(13) Share-Based Compensation The shareholders of the Company approved the Provident Bancorp, Inc. 2020 Equity Incentive Plan (the “2020 Equity Plan”) on November 23, 2020, which is in addition to the Provident Bancorp, Inc. 2016 Equity Incentive Plan (the “2016 Equity Plan”), (collectively called the “Equity Incentive Plans”). Under the Equity Incentive Plans 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 Incentive Plans, with 902,344 and 1,021,239 shares reserved for options under the 2016 Equity Plan and 2020 Equity Plan, respectively. The exercise price of each option equals the market price of the Company’s stock on the date of grant and the maximum term of each option is ten years . The total number of shares reserved for restricted stock or restricted units is 360,935 and 408,495 under the 2016 Equity Plan and 2020 Equity Plan, respectively. The value of restricted stock grants is based on the market price of the stock on grant date. Options and awards vest ratably over 3 to 5 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:  Expected volatility is based on historical volatility because the Company’s common stock price.  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 dividend yield assumption is based on the Company’s expectation of dividend payouts.  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 March 31, 2021 is presented in the table below: Stock Option Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2020 1,644,731 $ 10.25 Granted — — Forfeited — — Exercised — — Outstanding at March 31, 2021 1,644,731 $ 10.25 7.72 $ 6,830,010 Outstanding and expected to vest at March 31, 2021 1,644,731 $ 10.25 7.72 $ 6,830,010 Vested and Exercisable at March 31, 2021 628,689 $ 8.81 5.59 $ 3,517,525 Unrecognized compensation cost $ 3,311,000 Weighted average remaining recognition period (years) 4.14 For the three months ended March 31, 2021 and 2020, total expense for the stock options was $ 272,000 and $ 111,000 , 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 three months ended March 31, 2021: Unvested Restricted Stock Awards Weighted Average Grant Date Price Unvested restricted stock awards at December 31, 2020 387,683 $ 11.10 Granted — — Forfeited — — Vested ( 810 ) 12.35 Unvested restricted stock awards at March 31, 2021 386,873 $ 11.10 Unrecognized compensation cost $ 3,844,000 Weighted average remaining recognition period (years) 4.10 For the three months ended March 31, 2021 and 2020, total expense for the restricted stock awards was $ 332,000 and $ 150,000 , respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	(14) Leases The Company recognized right-of-use assets (“ROU”) totaling $ 4.2 million and $ 4.3 million at March 31, 2021 and December 31, 2020, respectively, and operating lease liabilities totaling $ 4.5 million at March 31, 2021 and December 31, 2020. The lease liabilities recognized by the Company represent two leased branch locations and one loan production office. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Variable lease components, such as fair market value adjustments, are expensed as incurred and no included in ROU assets and operating lease liabilities. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For the three months ended March 31, 2021 and 2020, rent expense for the operating leases totaled $ 79,000 and $ 71,000 , respectively. The following table presents information regarding the Company’s operating leases: March 31, December 31, 2021 2020 Weighted-average discount rate 3.55 % 3.54 % Range of lease expiration dates 2 - 14.5 years 2 - 15 years Range of lease renewal options 5 - 20 years 5 - 20 years Weighted-average remaining lease term 27.5 years 27.6 years The following table presents the undiscounted annual lease payments under the terms of the Company's operating leases at March 31, 2021 and December 31, 2020, including a reconciliation to the present value of operating lease liabilities recognized in the Consolidated Balance Sheets: March 31, December 31, Fiscal Year-End 2021 2020 (In thousands) (unaudited) 2021 $ 193 $ 258 2022 261 261 2023 264 264 2024 270 270 2025 280 280 Thereafter 6,325 6,325 Total lease payments 7,593 7,658 Less imputed interest ( 3,130 ) ( 3,170 ) Total lease liabilities $ 4,463 $ 4,488 The lease liabilities recognized include certain lease extensions as it is expected that the Company will use substantially all lease renewal options.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue Recognition [Abstract]
Revenue Recognition	(15) Revenue Recognition Revenue from contracts with customers in the scope of Accounting Standards Codification (“ASC”) ("Topic 606") is measured based on the consideration specified in the contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue from contracts with customers when it satisfies its performance obligations. The Company’s performance obligations are generally satisfied as services are rendered and can either be satisfied at a point in time or over time. Unsatisfied performance obligations at the report date are not material to our consolidated financial statements. The Company recognizes revenue that is transactional in nature and such revenue is earned at a point in time. Revenue that is recognized at a point in time includes card interchange fees (fee income related to debit card transactions), ATM fees, wire transfer fees, overdraft charge fees, and stop-payment and returned check fees. Additionally, revenue is collected from loan fees, such as letters of credit, line renewal fees and application fees. Such revenue is derived from transactional information and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer’s transaction.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2021
Basis of Presentation [Abstract]
Basis of Presentation	The accompanying unaudited financial statements of Provident Bancorp, Inc., a Maryland 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-month period ended March 31, 2021 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. Certain amounts in 2020 have been reclassified to be consistent with the 2021 consolidated financial statement presentation and had no effect on the net income reported in the consolidated statements 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 (the “SEC”) on March 26, 2021. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary, The Provident Bank (“BankProv” or 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 Pronounceme_2

Recent Accounting Pronouncements (Policy)	3 Months Ended
	Mar. 31, 2021
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 the current “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 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 eliminated, added and modified certain disclosure requirements for fair value measurements. Among the changes, entities are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The Company adopted the provision of ASU 2018-13 effective January 1, 2020 and the adoption did not have a material impact on the consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes (“ASU 2019-12”) . This ASU simplifies the accounting for income taxes and is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. Certain provisions under ASU 2019-12 require prospective application, some require modified retrospective application through a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption, while other provisions require retrospective application to all periods presented in the consolidated financial statements upon adoption. The Company adopted the provision of ASU 2019-12 effective January 1, 2021 and the adoption did not have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) , to ease the potential burden in accounting for recognizing the effects of reference rate reform on financial reporting. Such challenges include the accounting and operational implications for contract modifications and hedge accounting. The provisions in ASU 2020-04 provide optional expedients and exceptions for applying GAAP to loan and lease agreements, contracts, hedging relationships, and other transactions affected by reference rate reform. These provisions apply to contract modifications that reference LIBOR or another reference rate expected to be discounted because of reference rate reform. Qualifying modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification would be considered "minor" so that any existing unamortized deferred loan origination fees and costs would carry forward and continue to be amortized. Qualifying modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for hedge accounting. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022, with adoption permitted as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected, the amendments must be applied prospectively for all eligible contract modifications. The Company is currently evaluating the effect that this ASU will have on the Company’s consolidated financial statements. In October 2020, the FASB issued ASU No. 2020-08, Receivables (Topic 310) – Nonrefundable Fees and Other Costs (“ASU 2020-08”) , to provide further clarification and update the previously issued guidance in ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) Premium Amortization on Purchased Callable Debt Securities” (“ASU 2017-08”) . ASU 2017-08 shortened the amortization period for certain callable debt securities purchased at a premium by requiring that the premium be amortized to the earliest call date. The Company early adopted the provisions of ASU 2017-08, effective January 1, 2017. ASU 2017-08 requires that at each reporting period, to the extent that the amortized cost of an individual callable debt security exceeds the amount repayable by the issuer at the next call date, the excess premium should be amortized to the next call date. ASU 2020-08 is effective for fiscal years ending after December 15, 2020 and early adoption was not permitted. The provisions under ASU 2020-08 are required to be applied prospectively. The Company adopted the provision of ASU 2020-08 effective January 1, 2021 and the adoption did not have a material impact on the consolidated financial statements.

Revenue Recognition (Policy)

Revenue Recognition (Policy)	3 Months Ended
	Mar. 31, 2021
Revenue Recognition [Abstract]
Revenue Recognition	Revenue from contracts with customers in the scope of Accounting Standards Codification (“ASC”) ("Topic 606") is measured based on the consideration specified in the contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue from contracts with customers when it satisfies its performance obligations. The Company’s performance obligations are generally satisfied as services are rendered and can either be satisfied at a point in time or over time. Unsatisfied performance obligations at the report date are not material to our consolidated financial statements. The Company recognizes revenue that is transactional in nature and such revenue is earned at a point in time. Revenue that is recognized at a point in time includes card interchange fees (fee income related to debit card transactions), ATM fees, wire transfer fees, overdraft charge fees, and stop-payment and returned check fees. Additionally, revenue is collected from loan fees, such as letters of credit, line renewal fees and application fees. Such revenue is derived from transactional information and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer’s transaction.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investment Securities [Abstract]
Summary of Amortized Cost and Fair Value of Securities Available-for-Sale	Amortized Gross Gross Cost Unrealized Unrealized Fair (In thousands) Basis Gains Losses Value March 31, 2021 State and municipal securities $ 9,872 $ 538 $ — $ 10,410 Asset-backed securities 9,235 196 — 9,431 Government mortgage-backed securities 14,366 430 8 14,788 Total debt securities available-for-sale $ 33,473 $ 1,164 $ 8 $ 34,629 December 31, 2020 State and municipal securities $ 10,211 $ 683 $ — $ 10,894 Asset-backed securities 4,432 278 — 4,710 Government mortgage-backed securities 16,172 449 10 16,611 Total debt securities available-for-sale $ 30,815 $ 1,410 $ 10 $ 32,215
Schedule of Maturities of Debt Securities	Available-for-Sale Amortized Fair (In thousands) Cost Value Due after one year through five years $ 591 $ 636 Due after five years through ten years 912 917 Due after ten years 8,369 8,857 Government mortgage-backed securities 14,366 14,788 Asset-backed securities 9,235 9,431 $ 33,473 $ 34,629
Schedule of Aggregate Fair Value and Unrealized Losses of Securities	Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses March 31, 2021 Temporarily impaired securities: Government mortgage-backed securities $ — $ — $ 750 $ 8 $ 750 $ 8 Total temporarily impaired debt securities $ — $ — $ 750 $ 8 $ 750 $ 8 December 31, 2020 Temporarily impaired securities: Government mortgage-backed securities $ — $ — $ 817 $ 10 $ 817 $ 10 Total temporarily impaired debt securities $ — $ — $ 817 $ 10 $ 817 $ 10

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2021
Loans [Abstract]
Schedule of Loans	At At March 31, December 31, (In thousands) 2021 2020 Commercial real estate $ 435,034 $ 438,949 Commercial (1) 585,352 565,976 Residential real estate 29,901 32,785 Construction and land development 33,778 28,927 Consumer 4,136 5,547 Mortgage warehouse 244,066 265,379 1,332,267 1,337,563 Allowance for loan losses ( 19,032 ) ( 18,518 ) Deferred loan fees, net (2) ( 5,099 ) ( 4,235 ) Net loans $ 1,308,136 $ 1,314,810 (1) Includes $ 57.5 million and $ 41.8 million in PPP loans at March 31, 2021 and December 31, 2020, respectively. (2) Includes $ 1.7 million and $ 933,000 in deferred fees related to PPP loans at March 31, 2021 and December 31, 2020, respectively.
Schedule of Allowance for Loans and Gross Impaired Loans by Portfolio Segment	(In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Unallocated Total Allowance for loan losses: Balance at December 31, 2020 $ 6,095 $ 10,543 $ 184 $ 447 $ 586 $ 663 $ — $ 18,518 Charge-offs ( 150 ) ( 43 ) — — ( 156 ) — — ( 349 ) Recoveries 81 — — — 29 — — 110 Provision (credit) 76 1,012 ( 29 ) 5 ( 14 ) ( 297 ) — 753 Balance at March 31, 2021 $ 6,102 $ 11,512 $ 155 $ 452 $ 445 $ 366 $ — $ 19,032 Balance at December 31, 2019 $ 6,104 $ 6,086 $ 254 $ 749 $ 650 $ — $ 1 $ 13,844 Charge-offs — ( 97 ) — — ( 229 ) — — ( 326 ) Recoveries — 7 4 — 46 — — 57 Provision (credit) 395 1,765 ( 45 ) 40 582 296 66 3,099 Balance at March 31, 2020 $ 6,499 $ 7,761 $ 213 $ 789 $ 1,049 $ 296 $ 67 $ 16,674
Schedule of Allowance for Loan Losses and Related Loan Balances by Portfolio Segment	(In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total March 31, 2021 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 3,410 $ — $ — $ — $ — $ 3,410 Ending balance: Collectively evaluated for impairment 6,102 8,102 155 452 445 366 15,622 Total allowance for loan losses ending balance $ 6,102 $ 11,512 $ 155 $ 452 $ 445 $ 366 $ 19,032 Loans (1): Ending balance: Individually evaluated for impairment $ 20,886 $ 6,713 $ 161 $ — $ — $ — $ 27,760 Ending balance: Collectively evaluated for impairment 414,148 578,639 29,740 33,778 4,136 244,066 1,304,507 Total loans ending balance $ 435,034 $ 585,352 $ 29,901 $ 33,778 $ 4,136 $ 244,066 $ 1,332,267 (1) Balances represent gross loans. The difference between gross loans versus recorded investment, which would consist of unpaid principal balance, net of charge-offs, interest payments received applied to principal and unamortized deferred loan origination fees and costs, is not material. (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total December 31, 2020 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 2,024 $ — $ — $ — $ — $ 2,024 Ending balance: Collectively evaluated for impairment 6,095 8,519 184 447 586 663 16,494 Total allowance for loan losses ending balance $ 6,095 $ 10,543 $ 184 $ 447 $ 586 $ 663 $ 18,518 Loans (1): Ending balance: Individually evaluated for impairment $ 21,039 $ 4,458 $ 162 $ — $ — $ — $ 25,659 Ending balance: Collectively evaluated for impairment 417,910 561,518 32,623 28,927 5,547 265,379 1,311,904 Total loans ending balance $ 438,949 $ 565,976 $ 32,785 $ 28,927 $ 5,547 $ 265,379 $ 1,337,563 (1) Balances represent gross loans. The difference between gross loans versus recorded investment, which would consist of unpaid principal balance, net of charge-offs, interest payments received applied to principal and unamortized deferred loan origination fees and costs, is not material.
Schedule of 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 March 31, 2021 Commercial real estate $ — $ — $ — $ — $ 435,034 $ 435,034 $ — $ — Commercial 53 — 247 300 585,052 585,352 — 6,469 Residential real estate 80 345 747 1,172 28,729 29,901 — 969 Construction and land development — — — — 33,778 33,778 — — Consumer 4 26 16 46 4,090 4,136 — 17 Mortgage warehouse — — — — 244,066 244,066 — — Total $ 137 $ 371 $ 1,010 $ 1,518 $ 1,330,749 $ 1,332,267 $ — $ 7,455 December 31, 2020 Commercial real estate $ — $ — $ — $ — $ 438,949 $ 438,949 $ — $ — Commercial 4,358 — 291 4,649 561,327 565,976 — 4,198 Residential real estate 255 346 1,030 1,631 31,154 32,785 — 1,156 Construction and land development — — — — 28,927 28,927 — — Consumer 61 21 64 146 5,401 5,547 — 65 Mortgage warehouse — — — — 265,379 265,379 — — Total $ 4,674 $ 367 $ 1,385 $ 6,426 $ 1,331,137 $ 1,337,563 $ — $ 5,419
Schedule of Impaired Loans	March 31, 2021 December 31, 2020 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: Commercial real estate $ 20,886 $ 21,108 $ — $ 21,039 $ 21,312 $ — Commercial 473 512 — 434 441 — Residential real estate 161 161 — 162 162 — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with no related allowance 21,520 21,781 — 21,635 21,915 — With an allowance recorded: Commercial real estate — — — — — — Commercial 6,240 6,910 3,410 4,024 4,605 2,024 Residential real estate — — — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with an allowance recorded 6,240 6,910 3,410 4,024 4,605 2,024 Total Commercial real estate 20,886 21,108 — 21,039 21,312 — Commercial 6,713 7,422 3,410 4,458 5,046 2,024 Residential real estate 161 161 — 162 162 — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired loans $ 27,760 $ 28,691 $ 3,410 $ 25,659 $ 26,520 $ 2,024 Three Months Ended March 31, 2021 2020 Average Interest Average Interest Recorded Income Recorded Income (In thousands) Investment Recognized Investment Recognized With no related allowance recorded: Commercial real estate $ 20,961 $ 183 $ 2,041 $ 19 Commercial 502 3 694 6 Residential real estate 162 2 165 3 Construction and land development — — 165 — Consumer — — — — Mortgage warehouse — — — — Total impaired with no related allowance 21,625 188 3,065 28 With an allowance recorded: Commercial real estate — — 20,403 211 Commercial 6,295 2 2,480 1 Residential real estate — — — — Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with an allowance recorded 6,295 2 22,883 212 Total Commercial real estate 20,961 183 22,444 230 Commercial 6,797 5 3,174 7 Residential real estate 162 2 165 3 Construction and land development — — 165 — Consumer — — — — Mortgage warehouse — — — — Total impaired loans $ 27,920 $ 190 $ 25,948 $ 240
Schedule of Troubled Debt Restructurings	Three Months Ended March 31, 2021 2020 (Dollars in thousands) Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled debt restructurings: Commercial 3 $ 1,868 $ 1,868 7 $ 18,646 $ 20,146 3 $ 1,868 $ 1,868 7 $ 18,646 $ 20,146
Schedule of Loans by Risk Rating and Portfolio Segment	(In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total March 31, 2021 Grade: Pass $ 399,075 $ 551,157 $ — $ 32,740 $ — $ 244,066 $ 1,227,038 Special mention 16,253 16,679 — — — — 32,932 Substandard 19,706 13,211 962 1,038 — — 34,917 Doubtful — 4,305 — — — — 4,305 Not formally rated — — 28,939 — 4,136 — 33,075 Total $ 435,034 $ 585,352 $ 29,901 $ 33,778 $ 4,136 $ 244,066 $ 1,332,267 December 31, 2020 Grade: Pass $ 401,541 $ 538,449 $ — $ 28,927 $ — $ 265,379 $ 1,234,296 Special mention 17,702 13,625 — — — — 31,327 Substandard 19,706 13,902 1,560 — — — 35,168 Not formally rated — — 31,225 — 5,547 — 36,772 Total $ 438,949 $ 565,976 $ 32,785 $ 28,927 $ 5,547 $ 265,379 $ 1,337,563

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Schedule of Deposit Balances by Type	March 31, December 31, (In thousands) 2021 2020 NOW and demand $ 584,684 $ 554,095 Regular savings 155,399 151,341 Money market deposits 386,842 353,793 Total non-certificate accounts 1,126,925 1,059,229 Certificate accounts of $250,000 or more 5,186 5,167 Certificate accounts less than $250,000 153,113 173,032 Total certificate accounts 158,299 178,199 Total deposits $ 1,285,224 $ 1,237,428

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Borrowings [Abstract]
Schedule of Maturities of Advances from FHLB	(In thousands) Fiscal Year-End 2023 $ 8,500 2025 5,000 Total $ 13,500

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Measurements [Abstract]
Schedule of Assets Measured at Fair Value on a Recurring Basis	Fair Value Measurements at Reporting Date Using Significant Significant Other Observable Unobservable Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 March 31, 2021 State and municipal securities $ 10,410 $ — $ 10,410 $ — Asset-backed securities 9,431 — 9,431 — Mortgage-backed securities 14,788 — 14,788 — Totals $ 34,629 $ — $ 34,629 $ — December 31, 2020 State and municipal securities $ 10,894 $ — $ 10,894 $ — Asset-backed securities 4,710 — 4,710 — Mortgage-backed securities 16,611 — 16,611 — Totals $ 32,215 $ — $ 32,215 $ —
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 March 31, 2021 Impaired loans Commercial $ 2,830 $ — $ — $ 2,830 Totals $ 2,830 $ — $ — $ 2,830 December 31, 2020 Impaired loans Commercial $ 2,000 — $ — $ 2,000 Totals $ 2,000 $ — $ — $ 2,000
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 Range March 31, 2021 Impaired loans Commercial $ 2,830 Business valuation Comparable company evaluations 5 % - 10 % December 31, 2020 Impaired loans Commercial $ 2,000 Business valuation Comparable company evaluations —
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 March 31, 2021 Financial assets: Cash and cash equivalents $ 132,873 $ 132,873 $ — $ — $ 132,873 Available-for-sale debt securities 34,629 — 34,629 — 34,629 Federal Home Loan Bank of Boston stock 895 N/A N/A N/A N/A Loans, net 1,308,136 — — 1,316,830 1,316,830 Accrued interest receivable 6,456 — 6,456 — 6,456 Financial liabilities: Deposits 1,285,224 — 1,285,513 — 1,285,513 Borrowings 13,500 — 13,957 — 13,957 December 31, 2020 Financial assets: Cash and cash equivalents $ 83,819 $ 83,819 $ — $ — $ 83,819 Available-for-sale debt securities 32,215 — 32,215 — 32,215 Federal Home Loan Bank of Boston stock 895 N/A N/A N/A N/A Loans, net 1,314,810 — — 1,321,143 1,321,143 Accrued interest receivable 6,371 — 6,371 — 6,371 Financial liabilities: Deposits 1,237,428 — 1,237,867 — 1,237,867 Borrowings 13,500 — 14,016 — 14,016

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2021
Regulatory Capital [Abstract]
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 March 31, 2021 Total Capital (to Risk Weighted Assets) $ 204,328 15.17 % $ 107,741 > 8.0 % $ 134,676 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 187,467 13.92 80,805 > 6.0 107,741 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 187,467 13.92 60,604 > 4.5 87,539 > 6.5 Tier 1 Capital (to Average Assets) 187,467 12.28 61,074 > 4.0 76,343 > 5.0 December 31, 2020 Total Capital (to Risk Weighted Assets) $ 199,377 14.60 % $ 109,273 > 8.0 % $ 136,591 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 182,286 13.35 81,955 > 6.0 109,273 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 182,286 13.35 61,466 > 4.5 88,784 > 6.5 Tier 1 Capital (to Average Assets) 182,286 12.37 58,926 > 4.0 73,658 > 5.0

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	3 Months Ended
	Mar. 31, 2021
Employee Stock Ownership Plan [Abstract]
Schedule of Shares Held by the ESOP	March 31, 2021 December 31, 2020 Allocated 372,014 282,256 Committed to be allocated 22,439 89,758 Unallocated 1,144,415 1,166,854 Total 1,538,868 1,538,868

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Common Share [Abstract]
Schedule of Earning per Share	Three Months Ended March 31, (Dollars in thousands, except per share amounts) 2021 2020 Net Income attributable to common shareholders $ 4,297 $ 1,231 Average number of common shares issued 18,774,844 19,476,248 Less: average unallocated ESOP shares ( 1,151,892 ) ( 1,241,654 ) average unvested restricted stock ( 359,193 ) ( 118,624 ) Average number of common shares outstanding to calculate basic earnings per common share 17,263,759 18,115,970 Effect of dilutive unvested restricted stock and stock option awards 294,401 145,312 Average number of common shares outstanding to calculate diluted earnings per common share 17,558,160 18,261,282 Earnings per common share: Basic $ 0.25 $ 0.07 Diluted $ 0.24 $ 0.07

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Stock-Based Compensation [Abstract]
Schedule of Stock Option Grants Activity	Stock Option Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2020 1,644,731 $ 10.25 Granted — — Forfeited — — Exercised — — Outstanding at March 31, 2021 1,644,731 $ 10.25 7.72 $ 6,830,010 Outstanding and expected to vest at March 31, 2021 1,644,731 $ 10.25 7.72 $ 6,830,010 Vested and Exercisable at March 31, 2021 628,689 $ 8.81 5.59 $ 3,517,525 Unrecognized compensation cost $ 3,311,000 Weighted average remaining recognition period (years) 4.14
Schedule of Activity in Restricted Stock Awards Under the Equity Plan	Unvested Restricted Stock Awards Weighted Average Grant Date Price Unvested restricted stock awards at December 31, 2020 387,683 $ 11.10 Granted — — Forfeited — — Vested ( 810 ) 12.35 Unvested restricted stock awards at March 31, 2021 386,873 $ 11.10 Unrecognized compensation cost $ 3,844,000 Weighted average remaining recognition period (years) 4.10

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Information Regarding Operating Leases	March 31, December 31, 2021 2020 Weighted-average discount rate 3.55 % 3.54 % Range of lease expiration dates 2 - 14.5 years 2 - 15 years Range of lease renewal options 5 - 20 years 5 - 20 years Weighted-average remaining lease term 27.5 years 27.6 years
Schedule of Maturities of Lease Liabilities	March 31, December 31, Fiscal Year-End 2021 2020 (In thousands) (unaudited) 2021 $ 193 $ 258 2022 261 261 2023 264 264 2024 270 270 2025 280 280 Thereafter 6,325 6,325 Total lease payments 7,593 7,658 Less imputed interest ( 3,130 ) ( 3,170 ) Total lease liabilities $ 4,463 $ 4,488

Corporate Structure (Narrative)

Corporate Structure (Narrative) (Details)	3 Months Ended
	Mar. 31, 2021item
Corporate Structure [Abstract]
Number of banking offices	7
Number of loan production offices	2

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Investment Securities [Abstract]
Realized gains or losses on sales and calls	$ 0	$ 0
Securities pledged to secure available borrowings with the Federal Reserve Bank and Federal Home Loan Bank	$ 19,200,000		$ 21,300,000

Investment Securities (Summary

Investment Securities (Summary of Amortized Cost and Fair Value of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 33,473	$ 30,815
Gross Unrealized Gains	1,164	1,410
Gross Unrealized Losses	8	10
Fair Value	34,629	32,215
State And Municipal [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,872	10,211
Gross Unrealized Gains	538	683
Fair Value	10,410	10,894
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,235	4,432
Gross Unrealized Gains	196	278
Fair Value	9,431	4,710
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,366	16,172
Gross Unrealized Gains	430	449
Gross Unrealized Losses	8	10
Fair Value	$ 14,788	$ 16,611

Investment Securities (Schedule

Investment Securities (Schedule of Maturities of Debt Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available-for-Sale, Amortized Cost
Due after one year through five years	$ 591
Due after five years through ten years	912
Due after ten years	8,369
Amortized Cost	33,473	$ 30,815
Available-for-Sale, Fair Value
Due after one year through five years	636
Due after five years through ten years	917
Due after ten years	8,857
Fair Value	34,629	32,215
Government Mortgage-Backed Securities [Member]
Available-for-Sale, Amortized Cost
Amortized Cost	14,366	16,172
Available-for-Sale, Fair Value
Fair Value	14,788	16,611
Asset-Backed Securities [Member]
Available-for-Sale, Amortized Cost
Amortized Cost	9,235	4,432
Available-for-Sale, Fair Value
Fair Value	$ 9,431	$ 4,710

Investment Securities (Schedu_2

Investment Securities (Schedule of Aggregate Fair Value and Unrealized Losses of Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Fair Value, 12 Months or Longer	$ 750	$ 817
Unrealized Losses, 12 Months or Longer	8	10
Fair Value, Total	750	817
Unrealized Losses, Total	8	10
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, 12 Months or Longer	750	817
Unrealized Losses, 12 Months or Longer	8	10
Fair Value, Total	750	817
Unrealized Losses, Total	$ 8	$ 10

Loans (Narrative) (Details)

Loans (Narrative) (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2021USD ($)loancontract	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)contract	Dec. 31, 2020USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of TDR | contract	3		7
Troubled debt restructurings		$ 23,300		$ 23,300
Commercial Real Estate One [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of TDR | contract			7
Troubled debt restructurings			$ 20,100
Commercial Real Estate One [Member] | Interest Only [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings			$ 16,500
Period for interest-only at reduced rate			3 years
Commercial Real Estate One [Member] | Restructured To Amortize And Payout [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings			$ 2,100
Commercial Real Estate One [Member] | Restructured To Amortize And Payout [Member] | Minimum [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Pay out period			10 years
Commercial Real Estate One [Member] | Advance For Capital Expenditures [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings			$ 1,500
Period for interest-only at reduced rate			3 years
Commercial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of TDR | contract	3		7
Period for principal and interest deferral	3 months
Specific reserve	$ 1,700	1,200		1,800
CARES Act [Member] | Payment Deferral [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment deferral total	$ 44,400	44,000		$ 44,000
CARES Act [Member] | Commercial Real Estate [Member] | Payment Deferral [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans in payment deferral | loan	8			8
Payment deferral total	$ 16,000	12,400		$ 12,400
CARES Act [Member] | Commercial [Member] | Payment Deferral [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans in payment deferral | loan	26			28
Payment deferral total	$ 19,100	22,400		$ 22,400
CARES Act [Member] | Residential Real Estate [Member] | Payment Deferral [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans in payment deferral | loan				1
Payment deferral total		177		$ 177
CARES Act [Member] | Construction And Land Development [Member] | Payment Deferral [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans in payment deferral | loan	1			1
Payment deferral total	$ 9,300	$ 9,000		$ 9,000
CARES Act [Member] | Consumer, Residential Or Mortgage Warehouse [Member] | Payment Deferral [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans in payment deferral | loan	0

Loans (Schedule of Loans) (Deta

Loans (Schedule of Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	$ 1,332,267	$ 1,337,563
Allowance for loan losses	(19,032)	(18,518)	$ (16,674)	$ (13,844)
Deferred loan fees, net	(5,099)	(4,235)
Net loans	1,308,136	1,314,810
Paycheck Protection Program [Member]
Loans and Leases Receivable Disclosure [Line Items]
Deferred fees	1,700	933
Commercial Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	435,034	438,949
Allowance for loan losses	(6,102)	(6,095)	(6,499)	(6,104)
Commercial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	585,352	565,976
Allowance for loan losses	(11,512)	(10,543)	(7,761)	(6,086)
Commercial [Member] | Paycheck Protection Program [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	57,500	41,800
Residential Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	29,901	32,785
Allowance for loan losses	(155)	(184)	(213)	(254)
Construction And Land Development [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	33,778	28,927
Allowance for loan losses	(452)	(447)	(789)	(749)
Consumer [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	4,136	5,547
Allowance for loan losses	(445)	(586)	(1,049)	(650)
Mortgage Warehouse [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	244,066	265,379
Allowance for loan losses	$ (366)	$ (663)	$ (296)

Loans (Schedule of Allowance fo

Loans (Schedule of Allowance for Loans and Gross Impaired Loans by Portfolio Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 18,518	$ 13,844
Charge-offs	(349)	(326)
Recoveries	110	57
Provision (credit)	753	3,099
Ending balance	19,032	16,674
Commercial Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	6,095	6,104
Charge-offs	(150)
Recoveries	81
Provision (credit)	76	395
Ending balance	6,102	6,499
Commercial [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10,543	6,086
Charge-offs	(43)	(97)
Recoveries		7
Provision (credit)	1,012	1,765
Ending balance	11,512	7,761
Residential Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	184	254
Charge-offs
Recoveries		4
Provision (credit)	(29)	(45)
Ending balance	155	213
Construction And Land Development [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	447	749
Charge-offs
Recoveries
Provision (credit)	5	40
Ending balance	452	789
Consumer [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	586	650
Charge-offs	(156)	(229)
Recoveries	29	46
Provision (credit)	(14)	582
Ending balance	445	1,049
Mortgage Warehouse [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	663
Charge-offs
Recoveries
Provision (credit)	(297)	296
Ending balance	366	296
Unallocated [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		1
Charge-offs
Recoveries
Provision (credit)		66
Ending balance		$ 67

Loans (Schedule of Allowance _2

Loans (Schedule of Allowance for Loan Losses and Related Loan Balances by Portfolio Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	$ 3,410	$ 2,024
Ending balance: Collectively evaluated for impairment	15,622	16,494
Total allowance for loan losses ending balance	19,032	18,518	$ 16,674	$ 13,844
Loans:
Ending balance: Individually evaluated for impairment	27,760	25,659
Ending balance: Collectively evaluated for impairment	1,304,507	1,311,904
Total loans	1,332,267	1,337,563
Commercial Real Estate [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	6,102	6,095
Total allowance for loan losses ending balance	6,102	6,095	6,499	6,104
Loans:
Ending balance: Individually evaluated for impairment	20,886	21,039
Ending balance: Collectively evaluated for impairment	414,148	417,910
Total loans	435,034	438,949
Commercial [Member]
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	3,410	2,024
Ending balance: Collectively evaluated for impairment	8,102	8,519
Total allowance for loan losses ending balance	11,512	10,543	7,761	6,086
Loans:
Ending balance: Individually evaluated for impairment	6,713	4,458
Ending balance: Collectively evaluated for impairment	578,639	561,518
Total loans	585,352	565,976
Residential Real Estate [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	155	184
Total allowance for loan losses ending balance	155	184	213	254
Loans:
Ending balance: Individually evaluated for impairment	161	162
Ending balance: Collectively evaluated for impairment	29,740	32,623
Total loans	29,901	32,785
Construction And Land Development [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	452	447
Total allowance for loan losses ending balance	452	447	789	749
Loans:
Ending balance: Collectively evaluated for impairment	33,778	28,927
Total loans	33,778	28,927
Consumer [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	445	586
Total allowance for loan losses ending balance	445	586	1,049	650
Loans:
Ending balance: Collectively evaluated for impairment	4,136	5,547
Total loans	4,136	5,547
Mortgage Warehouse [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	366	663
Total allowance for loan losses ending balance	366	663	$ 296
Loans:
Ending balance: Collectively evaluated for impairment	244,066	265,379
Total loans	$ 244,066	$ 265,379

Loans (Schedule of Non-Accrual

Loans (Schedule of Non-Accrual Loans and Loan Delinquencies by Portfolio Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,518	$ 6,426
Total Current	1,330,749	1,331,137
Total loans	1,332,267	1,337,563
Non-accrual Loans	7,455	5,419
30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	137	4,674
60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	371	367
90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,010	1,385
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Current	435,034	438,949
Total loans	435,034	438,949
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	300	4,649
Total Current	585,052	561,327
Total loans	585,352	565,976
Non-accrual Loans	6,469	4,198
Commercial [Member] | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	53	4,358
Commercial [Member] | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	247	291
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,172	1,631
Total Current	28,729	31,154
Total loans	29,901	32,785
Non-accrual Loans	969	1,156
Residential Real Estate [Member] | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	80	255
Residential Real Estate [Member] | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	345	346
Residential Real Estate [Member] | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	747	1,030
Construction And Land Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Current	33,778	28,927
Total loans	33,778	28,927
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	46	146
Total Current	4,090	5,401
Total loans	4,136	5,547
Non-accrual Loans	17	65
Consumer [Member] | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	4	61
Consumer [Member] | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	26	21
Consumer [Member] | 90 Days or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	16	64
Mortgage Warehouse [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Current	244,066	265,379
Total loans	$ 244,066	$ 265,379

Loans (Schedule of Impaired Loa

Loans (Schedule of Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
With no related allowance recorded:
Recorded Investment	$ 21,520		$ 21,635
Unpaid Principal Balance	21,781		21,915
Average Recorded Investment	21,625	$ 3,065
Interest Income Recognized	188	28
With an allowance recorded:
Recorded Investment	6,240		4,024
Unpaid Principal Balance	6,910		4,605
Average Recorded Investment	6,295	22,883
Interest Income Recognized	2	212
Total
Recorded Investment	27,760		25,659
Unpaid Principal Balance	28,691		26,520
Related Allowance	3,410		2,024
Average Recorded Investment	27,920	25,948
Interest Income Recognized	190	240
Commercial Real Estate [Member]
With no related allowance recorded:
Recorded Investment	20,886		21,039
Unpaid Principal Balance	21,108		21,312
Average Recorded Investment	20,961	2,041
Interest Income Recognized	183	19
With an allowance recorded:
Average Recorded Investment		20,403
Interest Income Recognized		211
Total
Recorded Investment	20,886		21,039
Unpaid Principal Balance	21,108		21,312
Average Recorded Investment	20,961	22,444
Interest Income Recognized	183	230
Commercial [Member]
With no related allowance recorded:
Recorded Investment	473		434
Unpaid Principal Balance	512		441
Average Recorded Investment	502	694
Interest Income Recognized	3	6
With an allowance recorded:
Recorded Investment	6,240		4,024
Unpaid Principal Balance	6,910		4,605
Average Recorded Investment	6,295	2,480
Interest Income Recognized	2	1
Total
Recorded Investment	6,713		4,458
Unpaid Principal Balance	7,422		5,046
Related Allowance	3,410		2,024
Average Recorded Investment	6,797	3,174
Interest Income Recognized	5	7
Residential Real Estate [Member]
With no related allowance recorded:
Recorded Investment	161		162
Unpaid Principal Balance	161		162
Average Recorded Investment	162	165
Interest Income Recognized	2	3
Total
Recorded Investment	161		162
Unpaid Principal Balance	161		$ 162
Average Recorded Investment	162	165
Interest Income Recognized	$ 2	3
Construction And Land Development [Member]
With no related allowance recorded:
Average Recorded Investment		165
Total
Average Recorded Investment		$ 165

Loans (Schedule of Troubled Deb

Loans (Schedule of Troubled Debt Restructurings) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)contract	Mar. 31, 2020USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	3	7
Pre-Modification Outstanding Recorded Investment	$ 1,868	$ 18,646
Post-Modification Outstanding Recorded Investment	$ 1,868	$ 20,146
Commercial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	3	7
Pre-Modification Outstanding Recorded Investment	$ 1,868	$ 18,646
Post-Modification Outstanding Recorded Investment	$ 1,868	$ 20,146

Loans (Schedule of Loans by Ris

Loans (Schedule of Loans by Risk Rating and Portfolio Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 1,332,267	$ 1,337,563
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,227,038	1,234,296
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	32,932	31,327
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	34,917	35,168
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,305
Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	33,075	36,772
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	435,034	438,949
Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	399,075	401,541
Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	16,253	17,702
Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	19,706	19,706
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	585,352	565,976
Commercial [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	551,157	538,449
Commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	16,679	13,625
Commercial [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	13,211	13,902
Commercial [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,305
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	29,901	32,785
Residential Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	962	1,560
Residential Real Estate [Member] | Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	28,939	31,225
Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	33,778	28,927
Construction And Land Development [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	32,740	28,927
Construction And Land Development [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,038
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,136	5,547
Consumer [Member] | Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,136	5,547
Mortgage Warehouse [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	244,066	265,379
Mortgage Warehouse [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 244,066	$ 265,379

Deposits (Schedule of Deposit B

Deposits (Schedule of Deposit Balances by Type) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
NOW and demand	$ 584,684	$ 554,095
Regular savings	155,399	151,341
Money market deposits	386,842	353,793
Total non-certificate accounts	1,126,925	1,059,229
Certificate accounts of $250,000 or more	5,186	5,167
Certificate accounts less than $250,000	153,113	173,032
Total certificate accounts	158,299	178,199
Total deposits	$ 1,285,224	$ 1,237,428

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) - Federal Home Loan Bank [Member] $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Federal Home Loan Bank, Advances [Line Items]
Aggregate borrowings from FHLB	$ 13.5
Minimum [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates on FHLB advances ranged from	1.21%
Term of FHLB borrowings	1 year
Maximum [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates on FHLB advances ranged from	3.01%
Weighted Average [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates on FHLB advances ranged from	2.11%

Borrowings (Schedule of Maturit

Borrowings (Schedule of Maturities of Advances from FHLB) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Borrowings [Abstract]
2023	$ 8,500
2025	5,000
Total	$ 13,500	$ 13,500

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Nonrecurring Basis [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 2,830	$ 2,000
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,830	2,000
Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,830	2,000
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,830	2,000
Carrying Amount [Member] | Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	6,200	4,000
Reserves	$ 3,400	$ 2,000

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	$ 34,629	$ 32,215
State And Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	10,410	10,894
Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	9,431	4,710
Government Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	14,788	16,611
Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	34,629	32,215
Recurring Basis [Member] | State And Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	10,410	10,894
Recurring Basis [Member] | Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	9,431	4,710
Recurring Basis [Member] | Government Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	14,788	16,611
Recurring Basis [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	34,629	32,215
Recurring Basis [Member] | Significant Other Observable Inputs Level 2 [Member] | State And Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	10,410	10,894
Recurring Basis [Member] | Significant Other Observable Inputs Level 2 [Member] | Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	9,431	4,710
Recurring Basis [Member] | Significant Other Observable Inputs Level 2 [Member] | Government Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	$ 14,788	$ 16,611

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - Nonrecurring Basis [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 2,830	$ 2,000
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,830	2,000
Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,830	2,000
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 2,830	$ 2,000

Fair Value Measurements (Sche_3

Fair Value Measurements (Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - Nonrecurring Basis [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 2,830	$ 2,000
Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	2,830	2,000
Commercial [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	2,830	2,000
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 2,830	$ 2,000
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	5.00%
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	10.00%

Fair Value Measurements (Sche_4

Fair Value Measurements (Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Financial assets:
Cash and cash equivalents	$ 132,873	$ 83,819	$ 34,422	$ 59,658
Available-for-sale debt securities	34,629	32,215
Federal Home Loan Bank of Boston stock	895	895
Loans, net	1,308,136	1,314,810
Accrued interest receivable	6,456	6,371
Financial liabilities:
Deposits	1,285,224	1,237,428
Borrowings	13,500	13,500
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	132,873	83,819
Available-for-sale debt securities	34,629	32,215
Federal Home Loan Bank of Boston stock	895	895
Loans, net	1,308,136	1,314,810
Accrued interest receivable	6,456	6,371
Financial liabilities:
Deposits	1,285,224	1,237,428
Borrowings	13,500	13,500
Fair Value [Member]
Financial assets:
Cash and cash equivalents	132,873	83,819
Available-for-sale debt securities	34,629	32,215
Loans, net	1,316,830	1,321,143
Accrued interest receivable	6,456	6,371
Financial liabilities:
Deposits	1,285,513	1,237,867
Borrowings	13,957	14,016
Quoted Prices In Active Markets Identical Assets Level 1 [Member] | Fair Value [Member]
Financial assets:
Cash and cash equivalents	132,873	83,819
Significant Other Observable Inputs Level 2 [Member] | Fair Value [Member]
Financial assets:
Available-for-sale debt securities	34,629	32,215
Accrued interest receivable	6,456	6,371
Financial liabilities:
Deposits	1,285,513	1,237,867
Borrowings	13,957	14,016
Significant Unobservable Inputs Level 3 [Member] | Fair Value [Member]
Financial assets:
Loans, net	$ 1,316,830	$ 1,321,143

Regulatory Capital (Narrative)

Regulatory Capital (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
	Mar. 31, 2021	Feb. 28, 2021	Oct. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 ("CETI") capital ratio	0.045%			0.045%				0.045%
Minimum Tier 1 capital to risk-weighted assets ratio	0.060			0.060				0.060
Minimum total capital to risk-weighted assets ratio	0.080			0.080				0.080
Minimum Tier 1 leverage ratio	0.040			0.040				0.040
CETI capital ratio	0.065%			0.065%				0.065%
Tier 1 ratio	0.080			0.080				0.080
Total risk based capital ratio	0.10			0.10				0.100
Tier 1 leverage ratio	5.00%			5.00%
Capital conservation buffer				2.50%
CBLR leverage ratio								8.00%
Net income				$ 4,297	$ 1,231
Dividends								$ 12,100		$ 10,700	$ 9,300
Minimum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR leverage ratio								8.00%
Growth Act [Member] | Minimum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR leverage ratio									9.00%
Growth Act [Member] | Maximum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR total consolidated assets									$ 10,000,000
Forecast [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR leverage ratio						9.00%
Forecast [Member] | Maximum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR leverage ratio							8.50%
Common Stock [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Plan to repurchase (in shares)	1,400,000		1,000,000
Repurchase of common stock (in shares)		1,000,000		473,215
Retained Earnings [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Net income				$ 4,297	$ 1,231

Regulatory Capital (Schedule of

Regulatory Capital (Schedule of Bank's Actual Capital Amounts and Ratios) (Details) $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Regulatory Capital [Abstract]
Total Capital (to Risk Weighted Assets), Actual, Amount	$ 204,328	$ 199,377
Total Capital (to Risk Weighted Assets), Actual, Ratio	0.1517	0.1460
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 107,741	$ 109,273
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	0.080	0.080
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 134,676	$ 136,591
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.10	0.100
Tier 1 Capital (to Risk Weighted Assets), Actual Capital, Amount	$ 187,467	$ 182,286
Tier 1 Capital (to Risk Weighted Assets), Actual Capital, Ratio	0.1392	0.1335
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 80,805	$ 81,955
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	0.060	0.060
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 107,741	$ 109,273
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.080	0.080
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 187,467	$ 182,286
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1392	0.1335
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 60,604	$ 61,466
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	0.045%	0.045%
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 87,539	$ 88,784
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.065%	0.065%
Tier 1 Capital (to Average Assets), Actual Capital, Amount	$ 187,467	$ 182,286
Tier 1 Capital (to Average Assets), Actual Capital, Ratio	0.1228	0.1237
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Amount	$ 61,074	$ 58,926
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Ratio	0.040	0.040
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 76,343	$ 73,658
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.050	0.050

Employee Stock Ownership Plan_2

Employee Stock Ownership Plan (Narrative) (Details) - USD ($) $ in Thousands	Oct. 15, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Employee Stock Ownership Plan [Abstract]
ESOP shares		1,538,868		1,538,868
Proceeds of a loan		$ 11,800
ESOP payable term	15 years
ESOP prime rate percentage				3.25%
Number of shares committed to be released per year through 2033		89,757
Fair value of unallocated shares		$ 16,500
Compensation expense		$ 286	$ 250

Employee Stock Ownership Plan_3

Employee Stock Ownership Plan (Schedule of Shares Held by the ESOP) (Details) - shares	Mar. 31, 2021	Dec. 31, 2020
Share-Based Compensation
Allocated	372,014	282,256
Committed to be allocated	22,439	89,758
Unallocated	1,144,415	1,166,854
Total	1,538,868	1,538,868

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Common Share [Abstract]
Anti-dilutive shares	902,505	69,998

Earnings Per Common Share (Sche

Earnings Per Common Share (Schedule of Earning per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Common Share [Abstract]
Net Income attributable to common shareholders	$ 4,297	$ 1,231
Average number of common shares issued	18,774,844	19,476,248
Less:
average unallocated ESOP shares	(1,151,892)	(1,241,654)
average unvested restricted stock	(359,193)	(118,624)
Average number of common shares outstanding to calculate basic earnings per common share	17,263,759	18,115,970
Effect of dilutive unvested restricted stock and stock option awards	294,401	145,312
Average number of common shares outstanding to calculate diluted earnings per common share	17,558,160	18,261,282
Earnings per common share:
Basic (in dollars per share)	$ 0.25	$ 0.07
Diluted (in dollars per share)	$ 0.24	$ 0.07

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock Option [Member]
Share-Based Compensation [Line Items]
Share based compensation expenses	$ 272	$ 111
Restricted Stock [Member]
Share-Based Compensation [Line Items]
Share based compensation expenses	$ 332	$ 150
2016 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Shares reserved	902,344
Options expiration period	10 years
2016 Equity Plan [Member] | Restricted Stock [Member]
Share-Based Compensation [Line Items]
Shares reserved	360,935
2020 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Shares reserved	1,021,239
2020 Equity Plan [Member] | Restricted Stock [Member]
Share-Based Compensation [Line Items]
Shares reserved	408,495
Minimum [Member] | 2016 And 2020 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Vesting period (years)	3 years
Maximum [Member] | 2016 And 2020 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Vesting period (years)	5 years

Share-Based Compensation (Sched

Share-Based Compensation (Schedule of Stock Option Grants Activity) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Stock Option Awards
Outstanding, beginning | shares	1,644,731
Outstanding, ending | shares	1,644,731
Outstanding and expected to vest at March 31, 2021 | shares	1,644,731
Vested and Exercisable at March 31, 2021 | shares	628,689
Unrecognized compensation cost | $	$ 3,311,000
Weighted average remaining recognition period (years)	4 years 1 month 20 days
Weighted Average Exercise Price
Outstanding, beginning | $ / shares	$ 10.25
Outstanding, ending | $ / shares	10.25
Outstanding and expected to vest at March 31, 2021 | $ / shares	10.25
Vested and Exercisable at March 31, 2021 | $ / shares	$ 8.81
Weighted Average Remaining Contractual Term (years)
Outstanding at March 31, 2021	7 years 8 months 19 days
Outstanding and expected to vest at March 31, 2021	7 years 8 months 19 days
Vested and Exercisable at March 31, 2021	5 years 7 months 2 days
Aggregate Intrinsic Value
Outstanding at March 31, 2021 | $	$ 6,830,010
Outstanding and expected to vest at March 31, 2021 | $	6,830,010
Vested and Exercisable at March 31, 2021 | $	$ 3,517,525

Share-Based Compensation (Sch_2

Share-Based Compensation (Schedule of Activity in Restricted Stock Awards Under the Equity Plan) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Number of Shares
Weighted average remaining recognition period (years)	4 years 1 month 20 days
Restricted Stock [Member]
Number of Shares
Unvested restricted stock awards, beginning | shares	387,683
Granted | shares
Forfeited | shares
Vested | shares	(810)
Unvested restricted stock awards, ending | shares	386,873
Unrecognized compensation cost | $	$ 3,844,000
Weighted average remaining recognition period (years)	4 years 1 month 6 days
Weighted Average Grant Price
Unvested restricted stock awards, beginning | $ / shares	$ 11.10
Granted | $ / shares
Forfeited | $ / shares
Vested | $ / shares	12.35
Unvested restricted stock awards, ending | $ / shares	$ 11.10

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)item	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Leases [Abstract]
Operating right-of-use assets	$ 4,219		$ 4,258
Operating lease liabilities	$ 4,463		$ 4,488
Number of leased branch locations | item	2
Number of leased loan production office | item	1
Operating leases expense	$ 79	$ 71

Leases (Schedule of Information

Leases (Schedule of Information Regarding Operating Leases) (Details)	Mar. 31, 2021	Dec. 31, 2020
Leases [Line Items]
Weighted-average discount rate	3.55%	3.54%
Weighted-average remaining lease term	27 years 6 months	27 years 7 months 6 days
Minimum [Member]
Leases [Line Items]
Range of lease expiration dates	2 years	2 years
Range of lease renewal options	5 years	5 years
Maximum [Member]
Leases [Line Items]
Range of lease expiration dates	14 years 6 months	15 years
Range of lease renewal options	20 years	20 years

Leases (Schedule of Maturities

Leases (Schedule of Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fiscal Year-End
2021	$ 193	$ 258
2022	261	261
2023	264	264
2024	270	270
2025	280	280
Thereafter	6,325	6,325
Total lease payments	7,593	7,658
Less imputed interest	(3,130)	(3,170)
Total lease liabilities	$ 4,463	$ 4,488