Provident Bancorp (PVBC) 10-Q 17 Jan 23 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Jan. 06, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Period End Date	Sep. 30, 2022
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		17,669,698
Entity Central Index Key	0001778784

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 40,870	$ 22,470
Short-term investments	115,044	130,645
Cash and cash equivalents	155,914	153,115
Debt securities available-for-sale (at fair value)	29,168	36,837
Federal Home Loan Bank stock, at cost	3,413	785
Loans held for sale		22,846
Loans, net of allowance for loan losses of $29,046 and $19,496 as of September 30, 2022 and December 2021, respectively	1,478,451	1,433,803
Bank owned life insurance	43,347	42,569
Premises and equipment, net	13,767	14,258
Other repossessed assets	10,451
Accrued interest receivable	5,973	5,703
Right-of-use assets	3,981	4,102
Other assets	29,219	15,265
Total assets	1,773,684	1,729,283
Deposits:
Noninterest-bearing	662,291	626,587
Interest-bearing	809,218	833,308
Total deposits	1,471,509	1,459,895
Borrowings:
Short-term borrowings	67,000
Long-term borrowings	13,500	13,500
Total borrowings	80,500	13,500
Operating lease liabilities	4,308	4,387
Other liabilities	13,389	17,719
Total liabilities	1,569,706	1,495,501
Shareholders' equity:
Preferred stock; authorized 50,000 shares: no shares issued and outstanding
Common stock, $0.01 par value, 100,000,000 shares authorized; 17,738,957 and 17,854,649 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	177	179
Additional paid-in capital	122,412	123,498
Retained earnings	91,915	118,087
Accumulated other comprehensive (loss) income	(2,434)	649
Unearned compensation - ESOP	(8,092)	(8,631)
Total shareholders' equity	203,978	233,782
Total liabilities and shareholders' equity	$ 1,773,684	$ 1,729,283

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS [Abstract]
Loans, allowance for loan losses	$ 29,046	$ 19,496
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	17,738,957	17,854,649
Common stock, shares outstanding	17,738,957	17,854,649

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest and dividend income:
Interest and fees on loans	$ 20,147	$ 16,084	$ 56,917	$ 47,079
Interest and dividends on debt securities available-for-sale	203	183	576	538
Interest on short-term investments	357	69	816	121
Total interest and dividend income	20,707	16,336	58,309	47,738
Interest expense:
Interest on deposits	846	760	1,777	2,510
Interest on short-term borrowings	34		34
Interest on long-term borrowings	72	72	213	213
Total interest expense	952	832	2,024	2,723
Net interest and dividend income	19,755	15,504	56,285	45,015
Provision for loan losses	56,310	232	57,398	2,654
Net interest and dividend (loss) income after provision for loan losses	(36,555)	15,272	(1,113)	42,361
Noninterest income:
Customer service fees on deposit accounts	789	485	1,989	1,297
Service charges and fees - other	222	818	1,050	1,606
Bank owned life insurance income	264	509	778	951
(Loss) gain on loans sold, net	(12)		272	9
Other income	76	11	122	81
Total noninterest income	1,339	1,823	4,211	3,944
Noninterest expense:
Salaries and employee benefits	7,653	7,136	22,164	20,317
Occupancy expense	450	449	1,287	1,278
Equipment expense	147	128	428	377
Deposit insurance	161	124	466	341
Data processing	347	320	1,026	955
Marketing expense	66	36	263	154
Professional fees	736	410	2,173	1,310
Directors' compensation	255	259	776	774
Software depreciation and implementation	398	255	1,019	742
Write down of other assets and receivables		225	395	225
Insurance expense	448	38	1,343	110
Other repossessed assets expense	145		145
Other	1,243	688	3,318	2,226
Total noninterest expense	12,049	10,068	34,803	28,809
(Loss) income before income tax (benefit) expense	(47,265)	7,027	(31,705)	17,496
Income tax (benefit) expense	(11,956)	1,940	(7,540)	4,946
Net (loss) income	$ (35,309)	$ 5,087	$ (24,165)	$ 12,550
(Loss) Earnings per share:
Basic	$ (2.15)	$ 0.31	$ (1.47)	$ 0.74
Diluted	$ (2.15)	$ 0.30	$ (1.47)	$ 0.72
Weighted Average Shares:
Basic	16,456,274	16,637,852	16,477,933	16,870,674
Diluted	16,456,274	17,235,852	16,477,933	17,344,147

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract]
Net (loss) income	$ (35,309)	$ 5,087	$ (24,165)	$ 12,550
Other comprehensive income:
Unrealized holding losses arising during the period on debt securities available-for-sale	(1,009)	(88)	(4,010)	(172)
Unrealized loss	(1,009)	(88)	(4,010)	(172)
Income tax effect	231	22	927	47
Total other comprehensive loss	(778)	(66)	(3,083)	(125)
Comprehensive (loss) income	$ (36,087)	$ 5,021	$ (27,248)	$ 12,425

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 (Loss) Income [Member]	Unearned Compensation ESOP [Member]	Total
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 (loss) income			12,550			12,550
Dividends declared			(1,895)			(1,895)
Other comprehensive loss				(125)		(125)
Stock-based compensation expense, net		1,978				1,978
Restricted stock award grants, net of forfeitures (in shares)	60,000
Repurchase of common stock	$ (12)	(18,120)				(18,132)
Repurchase of common stock (in shares)	(1,226,976)
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)
Stock options exercised, net		22				22
Stock options exercised, net (in shares)	9,393
ESOP shares earned		469			540	1,009
Balance at Sep. 30, 2021	$ 179	123,797	115,163	933	(8,811)	231,261
Balance (in shares) at Sep. 30, 2021	17,889,759
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 (loss) income						16,100
Balance at Dec. 31, 2021	$ 179	123,498	118,087	649	(8,631)	233,782
Balance (in shares) at Dec. 31, 2021	17,854,649
Balance at Jun. 30, 2021	$ 182	128,666	110,752	999	(8,991)	231,608
Balance (in shares) at Jun. 30, 2021	18,246,136
Net (loss) income			5,087			5,087
Dividends declared			(676)			(676)
Other comprehensive loss				(66)		(66)
Stock-based compensation expense, net		700				700
Repurchase of common stock	$ (3)	(5,764)				(5,767)
Repurchase of common stock (in shares)	(357,877)
Stock options exercised, net		13				13
Stock options exercised, net (in shares)	1,500
ESOP shares earned		182			180	362
Balance at Sep. 30, 2021	$ 179	123,797	115,163	933	(8,811)	231,261
Balance (in shares) at Sep. 30, 2021	17,889,759
Balance at Dec. 31, 2021	$ 179	123,498	118,087	649	(8,631)	233,782
Balance (in shares) at Dec. 31, 2021	17,854,649
Net (loss) income			(24,165)			(24,165)
Dividends declared			(2,007)			(2,007)
Other comprehensive loss				(3,083)		(3,083)
Stock-based compensation expense, net		1,393				1,393
Restricted stock award grants, net of forfeitures (in shares)	49,355
Repurchase of common stock	$ (2)	(2,858)				$ (2,860)
Repurchase of common stock (in shares)	(180,434)
Purchase by ESOP (in shares)						89,758
Shares surrendered related to tax withholdings on restricted stock awards		(40)				$ (40)
Shares surrendered related to tax withholdings on restricted stock awards (in shares)	(2,517)
Stock options exercised, net		(108)				(108)
Stock options exercised, net (in shares)	17,904
ESOP shares earned		527			539	1,066
Balance at Sep. 30, 2022	$ 177	122,412	91,915	(2,434)	(8,092)	203,978
Balance (in shares) at Sep. 30, 2022	17,738,957
Balance at Jun. 30, 2022	$ 177	121,770	127,890	(1,656)	(8,272)	239,909
Balance (in shares) at Jun. 30, 2022	17,718,522
Net (loss) income			(35,309)			(35,309)
Dividends declared			(666)			(666)
Other comprehensive loss				(778)		(778)
Stock-based compensation expense, net		480				$ 480
Restricted stock award grants, net of forfeitures (in shares)	19,435
Repurchase of common stock (in shares)						0
Stock options exercised, net		8				$ 8
Stock options exercised, net (in shares)	1,000
ESOP shares earned		154			180	334
Balance at Sep. 30, 2022	$ 177	$ 122,412	$ 91,915	$ (2,434)	$ (8,092)	$ 203,978
Balance (in shares) at Sep. 30, 2022	17,738,957

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Abstract]
Dividends declared, per share	$ 0.04	$ 0.04	$ 0.12	$ 0.11

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net (loss) income	$ (35,309)	$ 5,087	$ (24,165)	$ 12,550	$ 16,100	$ 12,100
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization of securities premiums, net of accretion			146	136
ESOP expense	334	362	1,066	1,009
Change in deferred loan fees, net			123	639
Provision for loan losses	56,310	232	57,398	2,654
Depreciation and amortization			817	760
(Increase) Decrease in accrued interest receivable			(270)	1,301
Deferred tax benefit			(7,752)	(863)
Share-based compensation expense			1,393	1,978
Bank-owned life insurance income			(778)	(664)
Proceeds from death benefit on cash surrender value for bank-owned life insurance				(287)
Principal repayments of operating lease obligations			(79)	(75)
Gain on loans sold, net			(272)
Net increase in other assets			(5,274)	(1,642)
Net (decrease) increase in other liabilities			(4,330)	496
Net cash provided by operating activities			18,023	17,992
Cash flows from investing activities:
Purchases of debt securities available-for-sale				(10,639)
Proceeds from pay downs, maturities and calls of debt securities available-for-sale			3,513	6,644
(Purchase) Redemption of Federal Home Loan Bank stock			(2,628)	110
Loan originations and purchases, net of paydowns			(107,901)	(10,968)
Proceeds from loan sales			15,839
Proceeds from principal repayments on loans held for sale			2,560
Additions to premises and equipment			(206)	(290)
Proceeds from distribution of bank owned life insurance				809
Net cash used in investing activities			(88,823)	(14,334)
Cash flows from financing activities:
Net increase in noninterest-bearing accounts			35,704	111,760
Net (decrease) increase in interest-bearing accounts			(24,090)	11,931
Cash dividends paid on common stock			(2,007)	(1,895)
(Payments) Proceeds from exercise of stock options, net			(108)	22
Net change in short-term borrowings			67,000
Shares surrendered related to tax withholdings on restricted stock awards			(40)	(2)
Repurchase of common stock			(2,860)	(18,132)
Net cash provided by financing activities			73,599	103,684
Net increase in cash and cash equivalents			2,799	107,342
Cash and cash equivalents at beginning of period			153,115	83,819	83,819
Cash and cash equivalents at end of period	$ 155,914	$ 191,161	155,914	191,161	$ 153,115	$ 83,819
Supplemental disclosures:
Interest paid			2,023	2,723
Income taxes paid			4,771	6,804
Reclassification of loans held for sale to loans held for investment			9,599
Loans transferred to other repossessed assets			$ 10,451

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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- and nine-month periods ended September 30, 2022 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. Certain amounts in 2021 have been reclassified to be consistent with the 2022 consolidated financial statement presentation, which 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 24, 2022. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary BankProv (the “Bank”), and the Bank’s wholly owned subsidiaries, Provident Security Corporation, 5 Market Street Security Corporation, and Prov 1, LLC. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account. Prov 1, LLC was established to facilitate the sale of assets held as debt previously contracted. All significant inter-company balances and transactions have been eliminated in consolidation.

Corporate Structure

Corporate Structure	9 Months Ended
	Sep. 30, 2022
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. The Bank’s primary deposit products are checking, savings, and term certificate accounts and its primary lending products are commercial mortgages, commercial, and mortgage warehouse loans. BankProv is also a commercial bank for corporate clients, specializing in offering adaptive and technology-first banking solutions to niche markets.

Risks and Uncertainties _ Digit

Risks and Uncertainties – Digital Asset Lending and Other Repossessed Assets	9 Months Ended
	Sep. 30, 2022
Risks and Uncertainties – Digital Asset Lending and Other Repossessed Assets [Abstract]
Risks and Uncertainties – Digital Asset Lending and Other Repossessed Assets	(3) Risks and Uncertainties – Digital Asset Lending and Other Repossessed Assets On September 30, 2022, the Bank repossessed cryptocurrency mining rigs in exchange for the forgiveness of a $ 27.4 million loan relationship. Upon repossession, the assets were written down through an $ 11.3 million charge-off through allowance for loan losses on September 30, 2022. Due to continued volatility in the Bitcoin markets, the Company evaluated subsequent events and took an additional charge-off through the allowance for loan losses in the amount $ 5.6 million. The repossessed cryptocurrency mining rigs were reported as other repossessed assets at their fair value less costs to sell, establishing a new cost basis in the amount of $ 10.5 million on the September 30, 2022 Consolidated Balance Sheets. These other repossessed assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure a valuation allowance related to the other repossessed assets would be recorded through expense and operating costs (if any) are expensed. The estimates and assumptions that went into the valuation of the mining rigs held as repossessed assets, were based on market data and sales recorded by the Company during the quarter ended December 31, 2022. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The Bitcoin markets as well as the markets for cryptocurrency mining rigs are highly volatile and speculative and subject to a variety of risks, including market and liquidity risks. Changes in market driven factors, among others, could have a material impact on the values reported at September 30, 2022. In the event of further deterioration in the value of cryptocurrency mining rigs, the Company could recognize additional increases in the provision for loan losses and the allowance for loan losses related to loans collateralized by cryptocurrency mining rigs. In addition, the Company would also likely see increases in loan workout expenses related to the portfolio of loans secured by cryptocurrency mining rigs as well as expenses related to other repossessed assets.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
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.” Commonly referred to as “CECL”, t he 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. In October 2019, FASB approved a delay in the implementation until January 2023 for smaller reporting companies as defined by the SEC. The amendments in this update were effective for the Company on January 1, 2023. As previously disclosed, the Company formed a cross-functional working group to work through its implementation of CECL. The Company has completed its selection of the modeling methods, has run parallel processes and is in the final review stages of completing its documentation including third party model validations. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326) – Trouble Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) , which eliminates the accounting guidance on trouble debt restructurings (“TDRs”) for creditors in Accounting Standards Codification (“ASC”) 310-40 and amends the guidance on “vintage disclosures” to require disclosures of current-period gross write-offs by year of origination. The ASC also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. ASU 2022 - 02 was effective for the Company on January 1, 2023 in conjunction with the adoption of ASU No. 2016-13. The Company is in the final stages of completing its evaluation, however, the adoption is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) - 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 has formed a cross-functional working group to lead the transition from LIBOR. As of January 1, 2022, the Company no longer originated loans tied to LIBOR. For existing agreements that reference LIBOR, that Company has included fallback language and is actively working on converting these agreements to reference an alternative index. The Company does not expect that this ASU will have a material impact on the Company’s consolidated financial statements. In March 2022, the SEC released Staff Accounting Bulletin No. 121 (“SAB 121”) , which provides interpretive guidance regarding accounting for obligations to safeguard crypto-assets an entity holds for its platform users. The interpretive guidance requires an entity to recognize a liability on its balance sheet to reflect the obligation to safeguard the crypto-assets held for its platform users, along with a corresponding asset, both of which are measured at fair value. SAB 121 also requires disclosure of the nature and amount of crypto assets being safeguarded, how the fair value is determined, an entity’s accounting policy for safeguarding liabilities and corresponding assets and may require other information about risks and uncertainties arising from the entity’s safeguarding activities. SAB 121 is effective no later than the first interim or annual period ending after June 15, 2022, with retrospective application as of the beginning of the fiscal year. The Company has completed an evaluation and concluded that it does not have a safeguarding obligation under SAB 121 for the digital asset collateral associated with its loans and therefore the accounting and disclosures do not apply.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2022
Investment Securities [Abstract]
Investment Securities	(5) Investment Securities The following summarizes the amortized cost of investment securities classified as available-for-sale and their approximate fair values at September 30, 2022 and December 31, 2021: Amortized Gross Gross Cost Unrealized Unrealized Fair (In thousands) Basis Gains Losses Value September 30, 2022 State and municipal securities $ 11,922 $ 2 $ 1,085 $ 10,839 Asset-backed securities 7,416 — 928 6,488 Government mortgage-backed securities 12,988 — 1,147 11,841 Total debt securities available-for-sale $ 32,326 $ 2 $ 3,160 $ 29,168 December 31, 2021 State and municipal securities $ 12,002 $ 625 $ 36 $ 12,591 Asset-backed securities 8,141 118 4 8,255 Government mortgage-backed securities 15,842 208 59 15,991 Total debt securities available-for-sale $ 35,985 $ 951 $ 99 $ 36,837 The scheduled maturities of debt securities at September 30, 2022 are summarized in the table below. Actual maturities of asset and mortgage-backed securities may differ from contractual maturities because the assets and mortgages underlying the securities may be repaid without any penalties. Because asset- and 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 $ 573 $ 553 Due after five years through ten years 1,170 1,154 Due after ten years 10,179 9,132 Government mortgage-backed securities 12,988 11,841 Asset-backed securities 7,416 6,488 $ 32,326 $ 29,168 There were no realized gains or losses on sales and calls of securities during the nine months ended September 30, 2022 or September 30, 2021. Securities with carrying amounts of $ 10.5 million and $ 14.4 million were pledged to secure available borrowings with the Federal Home Loan Bank at September 30, 2022 and December 31, 2021, 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 September 30, 2022 and December 31, 2021: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses September 30, 2022 Temporarily impaired securities: State and municipal securities $ 10,238 $ 1,085 $ — $ — $ 10,238 $ 1,085 Asset-backed securities 6,488 928 — — 6,488 928 Government mortgage-backed securities 7,956 444 3,885 703 11,841 1,147 Total temporarily impaired debt securities $ 24,682 $ 2,457 $ 3,885 $ 703 $ 28,567 $ 3,160 December 31, 2021 Temporarily impaired securities: State and municipal $ 2,950 $ 36 $ — $ — $ 2,950 $ 36 Asset-backed securities 4,797 4 — — 4,797 4 Government mortgage-backed securities 5,022 54 113 5 5,135 59 Total temporarily impaired debt securities $ 12,769 $ 94 $ 113 $ 5 $ 12,882 $ 99 The gross unrealized losses were primarily attributable to 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 September 30, 2022.

Loans

Loans	9 Months Ended
	Sep. 30, 2022
Loans [Abstract]
Loans	(6) Loans A summary of loans is as follows: At At September 30, December 31, 2022 2021 (In thousands) Amount Amount Commercial real estate $ 446,977 $ 432,275 Commercial (1) 767,426 726,241 Residential real estate 8,902 812 Construction and land development 70,212 42,800 Consumer 562 1,519 Mortgage warehouse 217,653 253,764 1,511,732 1,457,411 Allowance for loan losses ( 29,046 ) ( 19,496 ) Deferred loan fees, net ( 4,235 ) ( 4,112 ) Net loans $ 1,478,451 $ 1,433,803 (1) Includes $ 82.5 million and $ 120.5 million in loans to digital asset companies at September 30, 2022 and December 31, 2021, respectively. Included in those balances were $ 47.5 million and $ 49.5 million in loans secured by cryptocurrency mining rigs at September 30, 2022 and December 31, 2021, respectively . The following tables set forth information regarding the activity in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2022 and 2021: For the three months ended September 30, (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total Allowance for loan losses: Balance at June 30, 2022 $ 4,890 $ 13,001 $ 14 $ 738 $ 89 $ 240 $ 18,972 Charge-offs — ( 46,350 ) — — ( 17 ) — ( 46,367 ) Recoveries — 126 — — 5 — 131 Provision (credit) 129 56,036 31 147 ( 10 ) ( 23 ) 56,310 Balance at September 30, 2022 $ 5,019 $ 22,813 $ 45 $ 885 $ 67 $ 217 $ 29,046 Balance at June 30, 2021 $ 5,753 $ 12,396 $ 141 $ 445 $ 336 $ 341 $ 19,412 Charge-offs — ( 1,570 ) — — ( 37 ) — ( 1,607 ) Recoveries — 88 — — 17 — 105 Provision (credit) ( 267 ) 573 ( 32 ) ( 8 ) ( 68 ) 34 232 Balance at September 30, 2021 $ 5,486 $ 11,487 $ 109 $ 437 $ 248 $ 375 $ 18,142 For the nine months ended September 30, (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total Allowance for loan losses: Balance at December 31, 2021 $ 4,935 $ 13,495 $ 38 $ 479 $ 168 $ 381 $ 19,496 Charge-offs — ( 48,039 ) — — ( 52 ) — ( 48,091 ) Recoveries — 219 — — 24 — 243 Provision (credit) 84 57,138 7 406 ( 73 ) ( 164 ) 57,398 Balance at September 30, 2022 $ 5,019 $ 22,813 $ 45 $ 885 $ 67 $ 217 $ 29,046 Balance at December 31, 2020 $ 6,095 $ 10,543 $ 184 $ 447 $ 586 $ 663 $ 18,518 Charge-offs ( 150 ) ( 2,979 ) — — ( 228 ) — ( 3,357 ) Recoveries 81 185 2 — 59 — 327 Provision (credit) ( 540 ) 3,738 ( 77 ) ( 10 ) ( 169 ) ( 288 ) 2,654 Balance at September 30, 2021 $ 5,486 $ 11,487 $ 109 $ 437 $ 248 $ 375 $ 18,142 The following table sets forth information regarding the allowance for loan losses and related loan balances by portfolio segment at September 30, 2022 and December 31, 2021: (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total September 30, 2022 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 2,879 $ — $ — $ — $ — $ 2,879 Ending balance: Collectively evaluated for impairment 5,019 19,934 45 885 67 217 26,167 Total allowance for loan losses ending balance $ 5,019 $ 22,813 $ 45 $ 885 $ 67 $ 217 $ 29,046 Loans (1): Ending balance: Individually evaluated for impairment $ 20,188 $ 21,329 $ 156 $ — $ — $ — $ 41,673 Ending balance: Collectively evaluated for impairment 426,789 746,097 8,746 70,212 562 217,653 1,470,059 Total loans ending balance $ 446,977 $ 767,426 $ 8,902 $ 70,212 $ 562 $ 217,653 $ 1,511,732 (1) Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amounts presented and 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, 2021 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 1,616 $ — $ — $ — $ — $ 1,616 Ending balance: Collectively evaluated for impairment 4,935 11,879 38 479 168 381 17,880 Total allowance for loan losses ending balance $ 4,935 $ 13,495 $ 38 $ 479 $ 168 $ 381 $ 19,496 Loans (1): Ending balance: Individually evaluated for impairment $ 20,188 $ 3,929 $ — $ — $ — $ — $ 24,117 Ending balance: Collectively evaluated for impairment 412,087 722,312 812 42,800 1,519 253,764 1,433,294 Total loans ending balance $ 432,275 $ 726,241 $ 812 $ 42,800 $ 1,519 $ 253,764 $ 1,457,411 (1) Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amount presented and 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 September 30, 2022 and December 31, 2021: 90 Days 90 Days Total or More 30 - 59 60 - 89 or More Past Total Total Past Due Non-accrual (In thousands) Days Days Past Due Due Current Loans and Accruing Loans September 30, 2022 Commercial real estate $ — $ — $ — $ — $ 446,977 $ 446,977 $ — $ 57 Commercial 6,028 4 263 6,295 761,131 767,426 — 21,210 Residential real estate 333 — 144 477 8,425 8,902 — 300 Construction and land development — — — — 70,212 70,212 — — Consumer 14 5 — 19 543 562 — — Mortgage warehouse — — — — 217,653 217,653 — — Total $ 6,375 $ 9 $ 407 $ 6,791 $ 1,504,941 $ 1,511,732 $ — $ 21,567 December 31, 2021 Commercial real estate $ — $ — $ — $ — $ 432,275 $ 432,275 $ — $ — Commercial 13 111 1,860 1,984 724,257 726,241 — 2,080 Residential real estate — — 555 555 257 812 — 812 Construction and land development — — — — 42,800 42,800 — — Consumer 15 11 — 26 1,493 1,519 — — Mortgage warehouse — — — — 253,764 253,764 — — Total $ 28 $ 122 $ 2,415 $ 2,565 $ 1,454,846 $ 1,457,411 $ — $ 2,892 The following tables provide information with respect to the Company’s impaired loans: September 30, 2022 December 31, 2021 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: Commercial real estate $ 20,188 $ 20,199 $ — $ 20,188 $ 20,339 $ — Commercial 15,107 45,928 — 2,015 2,205 — Residential real estate 156 156 — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with no related allowance 35,451 66,283 — 22,203 22,544 — With an allowance recorded: Commercial real estate — — — — — — Commercial 6,222 6,222 2,879 1,914 3,086 1,616 Residential real estate — — — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with an allowance recorded 6,222 6,222 2,879 1,914 3,086 1,616 Total Commercial real estate 20,188 20,199 — 20,188 20,339 — Commercial 21,329 52,150 2,879 3,929 5,291 1,616 Residential real estate 156 156 — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired loans $ 41,673 $ 72,505 $ 2,879 $ 24,117 $ 25,630 $ 1,616 Three Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income (In thousands) Investment Recognized Investment Recognized With no related allowance recorded: Commercial real estate $ 20,152 $ 159 $ 20,785 $ 166 Commercial 15,108 2 2,107 70 Residential real estate 156 2 159 1 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with no related allowance 35,416 163 23,051 237 With an allowance recorded: Commercial real estate — — — — Commercial 6,222 — 2,438 — Residential real estate — — — — Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with an allowance recorded 6,222 — 2,438 — Total Commercial real estate 20,152 159 20,785 166 Commercial 21,330 2 4,545 70 Residential real estate 156 2 159 1 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired loans $ 41,638 $ 163 $ 25,489 $ 237 Nine Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income (In thousands) Investment Recognized Investment Recognized With no related allowance recorded: Commercial real estate $ 20,174 $ 478 $ 20,815 $ 509 Commercial 15,361 5 2,149 123 Residential real estate 157 5 161 6 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with no related allowance 35,692 488 23,125 638 With an allowance recorded: Commercial real estate — — — — Commercial 6,222 — 2,689 — Residential real estate — — — — Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with an allowance recorded 6,222 — 2,689 — Total Commercial real estate 20,174 478 20,815 509 Commercial 21,583 5 4,838 123 Residential real estate 157 5 161 6 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired loans $ 41,914 $ 488 $ 25,814 $ 638 Troubled debt restructurings: Loans are considered to be 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. There were no new TDRs entered into during the three months ended September 30, 2022 and 2021. The following table summarize TDRs entered into during the nine months ended September 30, 2022 and 2021: Nine Months Ended September 30, 2022 2021 (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 — $ — $ — 3 $ 1,868 $ 1,868 During the nine months ended September 30, 2021, the Company approved three TDRs, all related to one commercial relationship totaling $ 1.9 million. A troubled debt restructuring was completed to provide the borrower with a three-month principal and interest deferral through April 2021; upon review in the second quarter of 2021 an additional three-month principal and interest deferral was granted through August 2021. During the third quarter of 2021, $ 1.6 million relating to this commercial relationship was charged-off with an additional $ 351,000 written off in the first quarter of 2022. As of September 30, 2022, the balance remaining was equal to the estimated net value of the collateral and the relationship remained on non-accrual status. The total recorded investment in TDRs was $ 20.5 million and $ 22.7 million at September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022, there were no material commitments to lend additional funds to borrowers whose loans had been restructured. The following tables present the Company’s loans by risk rating and portfolio segment at September 30, 2022 and December 31, 2021: (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total September 30, 2022 Grade: Pass $ 399,773 $ 641,323 $ — $ 70,212 $ — $ 217,653 $ 1,328,961 Special mention 23,499 94,944 — — — — 118,443 Substandard 23,705 30,896 300 — — — 54,901 Doubtful — 263 — — — — 263 Not formally rated — — 8,602 — 562 — 9,164 Total $ 446,977 $ 767,426 $ 8,902 $ 70,212 $ 562 $ 217,653 $ 1,511,732 December 31, 2021 Grade: Pass $ 383,460 $ 676,081 $ — $ 41,762 $ — $ 253,764 $ 1,355,067 Special mention 29,004 41,921 — — — — 70,925 Substandard 19,811 7,677 812 1,038 — — 29,338 Doubtful — 562 — — — — 562 Not formally rated — — — — 1,519 — 1,519 Total $ 432,275 $ 726,241 $ 812 $ 42,800 $ 1,519 $ 253,764 $ 1,457,411 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 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	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Deposits	(7) Deposits A summary of deposit balances, by type is as follows: At At September 30, December 31, (In thousands) 2022 2021 Noninterest-bearing: Demand $ 662,291 $ 626,587 Interest-bearing: NOW 212,823 197,884 Regular savings 153,602 155,267 Money market deposits 354,252 419,625 Certificates of deposit: Certificate accounts of $250,000 or more 9,808 5,078 Certificate accounts less than $250,000 78,733 55,454 Total interest-bearing 809,218 833,308 Total deposits $ 1,471,509 $ 1,459,895

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 are summarized as follows: (In thousands) Fiscal Year-End 2022 $ 67,000 2023 8,500 2025 5,000 Total $ 80,500 Borrowings from the FHLB are secured by a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one- to four-family properties, certain commercial loans and qualified mortgage-backed government securities. At September 30, 2022, borrowings from the FHLB consisted of short-term borrowings, with original maturities of less than one year, totaling $ 67.0 million and long-term borrowings, with original maturities more than one year, totaling $ 13.5 million. The interest rate on FHLB short-term borrowings was 3.15 % at September 30, 2022. The interest rates on FHLB long-term advances ranged from 1.21 % to 3.01 %, with a weighted average interest rate of 2.11 % at September 30, 2022 .

Other Repossessed Assets

Other Repossessed Assets	9 Months Ended
	Sep. 30, 2022
Other Repossessed Assets [Abstract]
Other Repossessed Assets	(9) Other Repossessed Assets Activity related to other repossessed assets was as follows: 2022 2021 (In thousands) Amount Amount Balance at January 1, $ — $ — Loans transferred to other repossessed assets 10,451 — Capitalized expenditures — — Direct write-downs — — Sales of other repossessed assets — — Balance at September 30, $ 10,451 $ — On September 30, 2022, the Bank repossessed cryptocurrency mining rigs in exchange for the forgiveness of a $ 27.4 million loan relationship. Upon repossession, the assets were written down through an $ 11.3 million charge off through allowance for loan losses on September 30, 2022. Due to continued volatility in the Bitcoin markets, the Company evaluated subsequent events and took an additional charge-off through the allowance for loan losses in the amount of $ 5.6 million. The repossessed cryptocurrency mining rigs were reported as other repossessed assets at their fair value less costs to sell, establishing a new cost basis in the amount of $ 10.5 million. There was no activity in the valuation allowance recorded for the three- or nine-month periods ended September 30, 2022 or 2021. Expenses related to other repossessed assets include: Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2022 2021 2022 2021 Net loss (gain) on sales $ — $ — $ — $ — Provision for unrealized losses — — — — Operating expenses, net of rental income 145 — 145 — $ 145 $ — $ 145 $ —

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Fair Value Measurements	(10) Fair Value Measurements The Company reports certain assets at fair value in accordance with GAAP, which defines fair value and establishes a framework for measuring fair value in accordance with generally accepted accounting principles. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Basis of Fair Value Measurements  Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;  Level 2 – Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability;  Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). An asset’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Fair Values of Assets Measured on a Recurring Basis The Company’s investments in state and municipal, asset-backed and government mortgage-backed 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 September 30, 2022 and December 31, 2021: Fair Value Measurements at Reporting Date Using Significant Significant Other Observable Unobservable Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2022 State and municipal securities $ 10,839 $ — $ 10,839 $ — Asset-backed securities 6,488 — 6,488 — Government mortgage-backed securities 11,841 — 11,841 — Totals $ 29,168 $ — $ 29,168 $ — December 31, 2021 State and municipal securities $ 12,591 $ — $ 12,591 $ — Asset-backed securities 8,255 — 8,255 — Government mortgage-backed securities 15,991 — 15,991 — Totals $ 36,837 $ — $ 36,837 $ — 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. Other repossessed assets, which consists of repossessed cryptocurrency mining rigs, were accounted for at fair value. Future adjustments, if any, will be recorded directly as an adjustment to current earnings. Fair value was measured using the appraised values of the cryptocurrency mining rigs and adjusted as necessary by management based on unobservable inputs. The following summarizes assets measured at fair value on a nonrecurring basis at September 30, 2022 and December 31, 2021: Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2022 Impaired loans Commercial $ 18,260 $ — $ — $ 18,260 Other repossessed assets 10,451 — — 10,451 Totals $ 28,711 $ — $ — $ 28,711 December 31, 2021 Impaired loans Commercial $ 361 $ — $ — $ 361 Totals $ 361 $ — $ — $ 361 The following is a summary of the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis at September 30, 2022 and December 31, 2021: (In thousands) Fair Value Valuation Technique Unobservable Input Range September 30, 2022 Impaired loans Commercial $ 18,260 Business or collateral valuation Comparable company or collateral evaluations 0 % - 28 % Other repossessed assets 10,451 Asset valuation Comparable asset evaluations 2 % - 5 % December 31, 2021 Impaired loans Commercial $ 361 Business valuation Comparable company evaluations 0 % - 24 % At September 30, 2022, the carrying amount of impaired commercial loans measured at fair value on a nonrecurring basis was $ 51.9 million, net of specific reserves of $ 2.8 million and charge-offs of $ 30.8 million. At December 31, 2021, the carrying amount of impaired commercial loans measured at fair value on a nonrecurring basis was $ 3.2 million, net of specific reserves of $ 1.6 million and charge-offs of $ 1.2 million. On September 30, 2022, the Bank repossessed cryptocurrency mining rigs in exchange for the forgiveness of a $ 27.4 million loan relationship. Upon repossession, the assets were written down through an $ 11.3 million charge off through allowance for loan losses on September 30, 2022. Due to continued volatility in the Bitcoin markets, the Company evaluated subsequent events and took an additional charge-off through the allowance for loan losses in the amount of $ 5.6 million. The repossessed cryptocurrency mining rigs were reported as other repossessed assets at their fair value less costs to sell, establishing a new cost basis in the amount of $ 10.5 million. 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 September 30, 2022 and December 31, 2021: Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total September 30, 2022 Financial assets: Cash and cash equivalents $ 155,914 $ 155,914 $ — $ — $ 155,914 Available-for-sale debt securities 29,168 — 29,168 — 29,168 Federal Home Loan Bank of Boston stock 3,413 N/A N/A N/A N/A Loans, net 1,478,451 — — 1,412,615 1,412,615 Accrued interest receivable 5,973 — 5,973 — 5,973 Other repossessed assets 10,451 — — 10,451 10,451 Financial liabilities: Deposits 1,471,509 — 1,471,535 — 1,471,535 Borrowings 80,500 — 80,070 — 80,070 December 31, 2021 Financial assets: Cash and cash equivalents $ 153,115 $ 153,115 $ — $ — $ 153,115 Available-for-sale debt securities 36,837 — 36,837 — 36,837 Federal Home Loan Bank of Boston stock 785 N/A N/A N/A N/A Loans and loans held for sale, net 1,456,649 — — 1,468,013 1,468,013 Accrued interest receivable 5,703 — 5,703 — 5,703 Financial liabilities: Deposits 1,459,895 — 1,459,841 — 1,459,841 Borrowings 13,500 — 13,698 — 13,698

Regulatory Capital

Regulatory Capital	9 Months Ended
	Sep. 30, 2022
Regulatory Capital [Abstract]
Regulatory Capital	(11) 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 September 30, 2022 and December 31, 2021, 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 September 30, 2022, the Bank exceeded the regulatory requirement for the capital conservation buffer. Federal banking agencies regulations establish 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 Bank did not elect to use 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 September 30, 2022 Total Capital (to Risk Weighted Assets) $ 201,800 12.00 % $ 134,563 > 8.0 % $ 168,204 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 180,676 10.74 100,922 > 6.0 134,563 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 180,676 10.74 75,692 > 4.5 109,333 > 6.5 Tier 1 Capital (to Average Assets) 180,676 10.45 69,165 > 4.0 86,457 > 5.0 December 31, 2021 Total Capital (to Risk Weighted Assets) $ 221,865 14.18 % $ 125,177 > 8.0 % $ 156,472 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 202,369 12.93 93,883 > 6.0 125,177 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 202,369 12.93 70,412 > 4.5 101,706 > 6.5 Tier 1 Capital (to Average Assets) 202,369 12.07 67,072 > 4.0 83,840 > 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 product of (i) the percentage of the stock issued in the initial stock offering in 2015 to persons other than Provident Bancorp, the top tier mutual holding company (“MHC”) of the Company and (ii) the net worth of the mid-tier holding company 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 by the Bank in a year, without prior approval of regulatory agencies, to the amount by which net income of the Bank for the year plus the retained net income of the previous two years exceeds any net loss reported in those respective periods. For the nine months ended September 30, 2022, the Bank reported a net loss of $ 24.2 million, which, netted against net income of $ 16.1 million and $ 12.1 million for the years ended December 31, 2021 and 2020, respectively, resulted in $ 4.0 million of retained earnings that was available to pay dividends. During the nine months ended September 30, 2022, $ 2.0 million was used to pay dividends leaving $ 2.0 million of retained available to pay dividends as of September 30, 2022 without prior regulatory approval. 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 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. The Company did no t repurchase any shares of its outstanding common stock under this program during the three months ended September 30, 2022. During the nine months ended September 30, 2022, the Company repurchased 180,434 shares of its outstanding common stock under this program.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2022
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	(12) 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 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, 2021). 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 89,758 . Shares held by the ESOP include the following: September 30, 2022 December 31, 2021 Allocated 461,772 372,014 Committed to be released 67,318 89,758 Unallocated 1,009,778 1,077,096 Total 1,538,868 1,538,868 The fair value of unallocated shares was approximately $ 14.4 million at September 30, 2022. Total compensation expense recognized in connection with the ESOP for the three months ended September 30, 2022 and 2021 was $ 334,000 and $ 362,000 , respectively. Total compensation expense recognized for the nine months ended September 30, 2022 and 2021 was $ 1.1 million and $ 1.0 million, respectively.

(Loss) Earnings Per Common Shar

(Loss) Earnings Per Common Share	9 Months Ended
	Sep. 30, 2022
(Loss) Earnings Per Common Share [Abstract]
(Loss) Earnings Per Common Share	(13) (Loss) Earnings Per Common Share Basic earnings (loss) per share represents income (loss) available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed in a manner similar to that of basic earnings (loss) 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 (loss) per share calculations. Three Months Ended Nine Months Ended (Dollars in thousands, except per share September 30, September 30, September 30, September 30, dollar amounts) 2022 2021 2022 2021 Net (Loss) Income attributable to common shareholders $ ( 35,309 ) $ 5,087 $ ( 24,165 ) $ 12,550 Average number of common shares issued 17,725,523 18,094,729 17,782,139 18,364,754 Less: average unallocated ESOP shares ( 1,017,339 ) ( 1,107,093 ) ( 1,039,560 ) ( 1,129,315 ) average unvested restricted stock ( 251,910 ) ( 349,784 ) ( 264,646 ) ( 364,765 ) Average number of common shares outstanding to calculate basic earnings per common share 16,456,274 16,637,852 16,477,933 16,870,674 Effect of dilutive unvested restricted stock and stock option awards — 598,000 — 473,473 Average number of common shares outstanding to calculate diluted earnings per common share 16,456,274 17,235,852 16,477,933 17,344,147 (Loss) Earnings per common share: Basic $ ( 2.15 ) $ 0.31 $ ( 1.47 ) $ 0.74 Diluted $ ( 2.15 ) $ 0.30 $ ( 1.47 ) $ 0.72 Diluted earnings per share for the three and nine months ended September 30, 2022 was equal to the basic earnings per share due to the Company’s net loss position. Stock options for 150,000 and 730,115 shares of common stock were not considered in computing diluted earnings per common share for the three months and nine months ended September 30, 2021, respectively, because they were anti-dilutive, 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	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation [Abstract]
Share-Based Compensation	(14) 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 with the 2020 Equity Plan, the “Equity Plans”). Under the Equity 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 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 of 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. The fair value of options granted was determined using the following weighted-average assumptions as of grant date: 2022 Vesting period (years) 5 Expiration date (years) 10 Expected volatility 33.47 % Expected life (years) 7.5 Expected dividend yield 1.01 % Risk free interest rate 2.63 % Fair value per option $ 5.82 A summary of the status of the Company’s stock option grants for the nine months ended September 30, 2022 is presented below: Stock Option Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2021 1,558,963 $ 10.72 Granted 108,360 16.03 Forfeited — — Exercised ( 51,877 ) 9.92 Outstanding at September 30, 2022 1,615,446 $ 11.10 6.79 $ 5,467,000 Outstanding and expected to vest at September 30, 2022 1,615,446 $ 11.10 6.79 $ 5,467,000 Vested and Exercisable at September 30, 2022 808,958 $ 9.64 5.19 $ 3,794,000 Unrecognized compensation cost $ 2,774,000 Weighted average remaining recognition period (years) 3.44 For the three months ended September 30, 2022 and 2021, expense for the stock options was $ 223,000 and $ 316,000 , respectively. For the nine months ended September 30, 2022 and 2021, expense for the stock options was $ 650,000 and $ 892,000 , 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 Plans. 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 Plans for the nine months ended September 30, 2022: Unvested Restricted Stock Awards Weighted Average Grant Date Price Unvested restricted stock awards at December 31, 2021 277,925 $ 12.15 Granted 49,355 15.91 Forfeited — — Vested ( 13,575 ) 14.62 Unvested restricted stock awards at September 30, 2022 313,705 $ 12.63 Unrecognized compensation cost $ 3,243,000 Weighted average remaining recognition period (years) 3.47 For the three months ended September 30, 2022 and 2021, expense for the restricted stock awards was $ 257,000 and $ 384,000 , respectively. For the nine months ended September 30, 2022 and 2021, expense for the restricted stock awards was $ 743,000 and $ 1.1 million, respectively.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	(15) Leases The Company recognized right-of-use assets (“ROU”) totaling $ 4.0 million and $ 4.1 million at September 30, 2022 and December 31, 2021, respectively, and operating lease liabilities totaling $ 4.3 million and $ 4.4 million at September 30, 2022 and December 31, 2021, respectively. 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 are not 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 the leases on a straight-line basis over the lease term. For the nine months ended September 30, 2022 and 2021, rent expense for the operating leases totaled $ 236,000 . The following table presents information regarding the Company’s operating leases: September 30, December 31, 2022 2021 Weighted-average discount rate 3.59 % 3.57 % Range of lease expiration dates 1 - 14 years 1 - 14 years Range of lease renewal options 5 - 20 years 5 - 20 years Weighted-average remaining lease term 26.5 years 27.0 years The following table presents the undiscounted annual lease payments under the terms of the Company’s operating leases at September 30, 2022 and December 31, 2021, including a reconciliation to the present value of operating lease liabilities recognized in the Consolidated Balance Sheets: September 30, December 31, Fiscal Year-End 2022 2021 (In thousands) 2022 $ 65 $ 261 2023 264 264 2024 270 270 2025 280 280 2026 291 291 Thereafter 6,033 6,033 Total lease payments 7,203 7,399 Less imputed interest ( 2,895 ) ( 3,012 ) Total lease liabilities $ 4,308 $ 4,387 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	9 Months Ended
	Sep. 30, 2022
Revenue Recognition [Abstract]
Revenue Recognition	(16) 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	(17) Subsequent Events Other Repossessed Assets On September 30, 2022, the Bank repossessed cryptocurrency mining rigs in exchange for the forgiveness of a $ 27.4 million loan relationship. To determine the value of the repossessed cryptocurrency mining rigs, the Company engaged with a valuation specialist. Their approach to valuing the assets included market value assessments, including review and consideration of actual bids, industry reports, and interviews with equipment dealers actively involved in the Bitcoin mining market. Management reviewed the valuation assessment provided by the specialist and determined the amounts proposed were consistent with expectations and activity as of the date of the valuation. Upon repossession, the assets were written down through an $ 11.3 million charge-off through allowance for loan losses on September 30, 2022. Due to the continued volatility in the Bitcoin markets, the Company evaluated subsequent events and took an additional charge-off through the allowance for loan losses in the amount of $ 5.6 million. The repossessed cryptocurrency mining rigs were reported as other repossessed assets at their fair value less costs to sell, establishing a new cost basis in the amount of $ 10.5 million on the September 30, 2022 Consolidated Balance Sheets. These other repossessed assets are subsequently accounted for at lower cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance will be recorded through expense. Operating costs (if any) after acquisition are expensed. The estimates and assumptions that went into the valuation of the mining rigs held as repossessed assets, were based on market data and sales recorded by the Company during the quarter ended December 31, 2022. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The Bitcoin markets as well as the markets for cryptocurrency mining rigs are highly volatile and speculative and subject to a variety of risks, including market and liquidity risks. Changes in market driven factors, among others, could have a material impact on the values reported at September 30, 2022. Loans Secured by Cryptocurrency Mining Rigs During the quarter ended, September 30, 2022, the recorded investment in impaired commercial loans secured by cryptocurrency mining rigs was $ 51.0 million, which included outstanding principal and unamortized premium. At that time these loans were allocated $ 31.7 million in specific reserves. On December 16, 2022, the Bank entered into an agreement to sell loans at which point the total recorded investment had reduced to $ 50.1 million due to payments made during the fourth quarter of 2022. The sales price for the loans was $ 15.0 million in cash in addition to a replacement loan relationship secured by cryptocurrency mining rigs with a principal balance of $ 6.2 million. The Company had originally planned to hold these loans with specific reserves, but the executed sale and exchange transaction provided evidence about the value of the loans as they existed on the September 30, 2022 Consolidated Balance Sheets. The sale was recorded during the quarter ended December 31, 2022; however, the Company retroactively adjusted the September 30, 2022 financial statements to reflect the $ 29.0 million charge-off that ultimately resulted from the sale and exchange of these loans. In addition, because of the continued volatility in Bitcoin and cryptocurrency mining rigs, the Company has ceased originating new loans secured by cryptocurrency mining rigs.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2022
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- and nine-month periods ended September 30, 2022 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. Certain amounts in 2021 have been reclassified to be consistent with the 2022 consolidated financial statement presentation, which 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 24, 2022. The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary BankProv (the “Bank”), and the Bank’s wholly owned subsidiaries, Provident Security Corporation, 5 Market Street Security Corporation, and Prov 1, LLC. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account. Prov 1, LLC was established to facilitate the sale of assets held as debt previously contracted. All significant inter-company balances and transactions have been eliminated in consolidation.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policy)	9 Months Ended
	Sep. 30, 2022
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.” Commonly referred to as “CECL”, t he 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. In October 2019, FASB approved a delay in the implementation until January 2023 for smaller reporting companies as defined by the SEC. The amendments in this update were effective for the Company on January 1, 2023. As previously disclosed, the Company formed a cross-functional working group to work through its implementation of CECL. The Company has completed its selection of the modeling methods, has run parallel processes and is in the final review stages of completing its documentation including third party model validations. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326) – Trouble Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) , which eliminates the accounting guidance on trouble debt restructurings (“TDRs”) for creditors in Accounting Standards Codification (“ASC”) 310-40 and amends the guidance on “vintage disclosures” to require disclosures of current-period gross write-offs by year of origination. The ASC also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. ASU 2022 - 02 was effective for the Company on January 1, 2023 in conjunction with the adoption of ASU No. 2016-13. The Company is in the final stages of completing its evaluation, however, the adoption is not expected to have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) - 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 has formed a cross-functional working group to lead the transition from LIBOR. As of January 1, 2022, the Company no longer originated loans tied to LIBOR. For existing agreements that reference LIBOR, that Company has included fallback language and is actively working on converting these agreements to reference an alternative index. The Company does not expect that this ASU will have a material impact on the Company’s consolidated financial statements. In March 2022, the SEC released Staff Accounting Bulletin No. 121 (“SAB 121”) , which provides interpretive guidance regarding accounting for obligations to safeguard crypto-assets an entity holds for its platform users. The interpretive guidance requires an entity to recognize a liability on its balance sheet to reflect the obligation to safeguard the crypto-assets held for its platform users, along with a corresponding asset, both of which are measured at fair value. SAB 121 also requires disclosure of the nature and amount of crypto assets being safeguarded, how the fair value is determined, an entity’s accounting policy for safeguarding liabilities and corresponding assets and may require other information about risks and uncertainties arising from the entity’s safeguarding activities. SAB 121 is effective no later than the first interim or annual period ending after June 15, 2022, with retrospective application as of the beginning of the fiscal year. The Company has completed an evaluation and concluded that it does not have a safeguarding obligation under SAB 121 for the digital asset collateral associated with its loans and therefore the accounting and disclosures do not apply.

Revenue Recognition (Policy)

Revenue Recognition (Policy)	9 Months Ended
	Sep. 30, 2022
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)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 State and municipal securities $ 11,922 $ 2 $ 1,085 $ 10,839 Asset-backed securities 7,416 — 928 6,488 Government mortgage-backed securities 12,988 — 1,147 11,841 Total debt securities available-for-sale $ 32,326 $ 2 $ 3,160 $ 29,168 December 31, 2021 State and municipal securities $ 12,002 $ 625 $ 36 $ 12,591 Asset-backed securities 8,141 118 4 8,255 Government mortgage-backed securities 15,842 208 59 15,991 Total debt securities available-for-sale $ 35,985 $ 951 $ 99 $ 36,837
Schedule of Maturities of Debt Securities	Available-for-Sale Amortized Fair (In thousands) Cost Value Due after one year through five years $ 573 $ 553 Due after five years through ten years 1,170 1,154 Due after ten years 10,179 9,132 Government mortgage-backed securities 12,988 11,841 Asset-backed securities 7,416 6,488 $ 32,326 $ 29,168
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 September 30, 2022 Temporarily impaired securities: State and municipal securities $ 10,238 $ 1,085 $ — $ — $ 10,238 $ 1,085 Asset-backed securities 6,488 928 — — 6,488 928 Government mortgage-backed securities 7,956 444 3,885 703 11,841 1,147 Total temporarily impaired debt securities $ 24,682 $ 2,457 $ 3,885 $ 703 $ 28,567 $ 3,160 December 31, 2021 Temporarily impaired securities: State and municipal $ 2,950 $ 36 $ — $ — $ 2,950 $ 36 Asset-backed securities 4,797 4 — — 4,797 4 Government mortgage-backed securities 5,022 54 113 5 5,135 59 Total temporarily impaired debt securities $ 12,769 $ 94 $ 113 $ 5 $ 12,882 $ 99

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2022
Loans [Abstract]
Schedule of Loans	At At September 30, December 31, 2022 2021 (In thousands) Amount Amount Commercial real estate $ 446,977 $ 432,275 Commercial (1) 767,426 726,241 Residential real estate 8,902 812 Construction and land development 70,212 42,800 Consumer 562 1,519 Mortgage warehouse 217,653 253,764 1,511,732 1,457,411 Allowance for loan losses ( 29,046 ) ( 19,496 ) Deferred loan fees, net ( 4,235 ) ( 4,112 ) Net loans $ 1,478,451 $ 1,433,803 (1) Includes $ 82.5 million and $ 120.5 million in loans to digital asset companies at September 30, 2022 and December 31, 2021, respectively. Included in those balances were $ 47.5 million and $ 49.5 million in loans secured by cryptocurrency mining rigs at September 30, 2022 and December 31, 2021, respectively .
Schedule of Allowance for Loans and Gross Impaired Loans by Portfolio Segment	For the three months ended September 30, (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total Allowance for loan losses: Balance at June 30, 2022 $ 4,890 $ 13,001 $ 14 $ 738 $ 89 $ 240 $ 18,972 Charge-offs — ( 46,350 ) — — ( 17 ) — ( 46,367 ) Recoveries — 126 — — 5 — 131 Provision (credit) 129 56,036 31 147 ( 10 ) ( 23 ) 56,310 Balance at September 30, 2022 $ 5,019 $ 22,813 $ 45 $ 885 $ 67 $ 217 $ 29,046 Balance at June 30, 2021 $ 5,753 $ 12,396 $ 141 $ 445 $ 336 $ 341 $ 19,412 Charge-offs — ( 1,570 ) — — ( 37 ) — ( 1,607 ) Recoveries — 88 — — 17 — 105 Provision (credit) ( 267 ) 573 ( 32 ) ( 8 ) ( 68 ) 34 232 Balance at September 30, 2021 $ 5,486 $ 11,487 $ 109 $ 437 $ 248 $ 375 $ 18,142 For the nine months ended September 30, (In thousands) Commercial Real Estate Commercial Residential Real Estate Construction and Land Development Consumer Mortgage Warehouse Total Allowance for loan losses: Balance at December 31, 2021 $ 4,935 $ 13,495 $ 38 $ 479 $ 168 $ 381 $ 19,496 Charge-offs — ( 48,039 ) — — ( 52 ) — ( 48,091 ) Recoveries — 219 — — 24 — 243 Provision (credit) 84 57,138 7 406 ( 73 ) ( 164 ) 57,398 Balance at September 30, 2022 $ 5,019 $ 22,813 $ 45 $ 885 $ 67 $ 217 $ 29,046 Balance at December 31, 2020 $ 6,095 $ 10,543 $ 184 $ 447 $ 586 $ 663 $ 18,518 Charge-offs ( 150 ) ( 2,979 ) — — ( 228 ) — ( 3,357 ) Recoveries 81 185 2 — 59 — 327 Provision (credit) ( 540 ) 3,738 ( 77 ) ( 10 ) ( 169 ) ( 288 ) 2,654 Balance at September 30, 2021 $ 5,486 $ 11,487 $ 109 $ 437 $ 248 $ 375 $ 18,142
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 September 30, 2022 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 2,879 $ — $ — $ — $ — $ 2,879 Ending balance: Collectively evaluated for impairment 5,019 19,934 45 885 67 217 26,167 Total allowance for loan losses ending balance $ 5,019 $ 22,813 $ 45 $ 885 $ 67 $ 217 $ 29,046 Loans (1): Ending balance: Individually evaluated for impairment $ 20,188 $ 21,329 $ 156 $ — $ — $ — $ 41,673 Ending balance: Collectively evaluated for impairment 426,789 746,097 8,746 70,212 562 217,653 1,470,059 Total loans ending balance $ 446,977 $ 767,426 $ 8,902 $ 70,212 $ 562 $ 217,653 $ 1,511,732 (1) Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amounts presented and 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, 2021 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ — $ 1,616 $ — $ — $ — $ — $ 1,616 Ending balance: Collectively evaluated for impairment 4,935 11,879 38 479 168 381 17,880 Total allowance for loan losses ending balance $ 4,935 $ 13,495 $ 38 $ 479 $ 168 $ 381 $ 19,496 Loans (1): Ending balance: Individually evaluated for impairment $ 20,188 $ 3,929 $ — $ — $ — $ — $ 24,117 Ending balance: Collectively evaluated for impairment 412,087 722,312 812 42,800 1,519 253,764 1,433,294 Total loans ending balance $ 432,275 $ 726,241 $ 812 $ 42,800 $ 1,519 $ 253,764 $ 1,457,411 (1) Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amount presented and 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 September 30, 2022 Commercial real estate $ — $ — $ — $ — $ 446,977 $ 446,977 $ — $ 57 Commercial 6,028 4 263 6,295 761,131 767,426 — 21,210 Residential real estate 333 — 144 477 8,425 8,902 — 300 Construction and land development — — — — 70,212 70,212 — — Consumer 14 5 — 19 543 562 — — Mortgage warehouse — — — — 217,653 217,653 — — Total $ 6,375 $ 9 $ 407 $ 6,791 $ 1,504,941 $ 1,511,732 $ — $ 21,567 December 31, 2021 Commercial real estate $ — $ — $ — $ — $ 432,275 $ 432,275 $ — $ — Commercial 13 111 1,860 1,984 724,257 726,241 — 2,080 Residential real estate — — 555 555 257 812 — 812 Construction and land development — — — — 42,800 42,800 — — Consumer 15 11 — 26 1,493 1,519 — — Mortgage warehouse — — — — 253,764 253,764 — — Total $ 28 $ 122 $ 2,415 $ 2,565 $ 1,454,846 $ 1,457,411 $ — $ 2,892
Schedule of Impaired Loans	September 30, 2022 December 31, 2021 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: Commercial real estate $ 20,188 $ 20,199 $ — $ 20,188 $ 20,339 $ — Commercial 15,107 45,928 — 2,015 2,205 — Residential real estate 156 156 — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with no related allowance 35,451 66,283 — 22,203 22,544 — With an allowance recorded: Commercial real estate — — — — — — Commercial 6,222 6,222 2,879 1,914 3,086 1,616 Residential real estate — — — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired with an allowance recorded 6,222 6,222 2,879 1,914 3,086 1,616 Total Commercial real estate 20,188 20,199 — 20,188 20,339 — Commercial 21,329 52,150 2,879 3,929 5,291 1,616 Residential real estate 156 156 — — — — Construction and land development — — — — — — Consumer — — — — — — Mortgage warehouse — — — — — — Total impaired loans $ 41,673 $ 72,505 $ 2,879 $ 24,117 $ 25,630 $ 1,616 Three Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income (In thousands) Investment Recognized Investment Recognized With no related allowance recorded: Commercial real estate $ 20,152 $ 159 $ 20,785 $ 166 Commercial 15,108 2 2,107 70 Residential real estate 156 2 159 1 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with no related allowance 35,416 163 23,051 237 With an allowance recorded: Commercial real estate — — — — Commercial 6,222 — 2,438 — Residential real estate — — — — Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with an allowance recorded 6,222 — 2,438 — Total Commercial real estate 20,152 159 20,785 166 Commercial 21,330 2 4,545 70 Residential real estate 156 2 159 1 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired loans $ 41,638 $ 163 $ 25,489 $ 237 Nine Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income (In thousands) Investment Recognized Investment Recognized With no related allowance recorded: Commercial real estate $ 20,174 $ 478 $ 20,815 $ 509 Commercial 15,361 5 2,149 123 Residential real estate 157 5 161 6 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with no related allowance 35,692 488 23,125 638 With an allowance recorded: Commercial real estate — — — — Commercial 6,222 — 2,689 — Residential real estate — — — — Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired with an allowance recorded 6,222 — 2,689 — Total Commercial real estate 20,174 478 20,815 509 Commercial 21,583 5 4,838 123 Residential real estate 157 5 161 6 Construction and land development — — — — Consumer — — — — Mortgage warehouse — — — — Total impaired loans $ 41,914 $ 488 $ 25,814 $ 638
Schedule of Troubled Debt Restructurings	Nine Months Ended September 30, 2022 2021 (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 — $ — $ — 3 $ 1,868 $ 1,868
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 September 30, 2022 Grade: Pass $ 399,773 $ 641,323 $ — $ 70,212 $ — $ 217,653 $ 1,328,961 Special mention 23,499 94,944 — — — — 118,443 Substandard 23,705 30,896 300 — — — 54,901 Doubtful — 263 — — — — 263 Not formally rated — — 8,602 — 562 — 9,164 Total $ 446,977 $ 767,426 $ 8,902 $ 70,212 $ 562 $ 217,653 $ 1,511,732 December 31, 2021 Grade: Pass $ 383,460 $ 676,081 $ — $ 41,762 $ — $ 253,764 $ 1,355,067 Special mention 29,004 41,921 — — — — 70,925 Substandard 19,811 7,677 812 1,038 — — 29,338 Doubtful — 562 — — — — 562 Not formally rated — — — — 1,519 — 1,519 Total $ 432,275 $ 726,241 $ 812 $ 42,800 $ 1,519 $ 253,764 $ 1,457,411

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Schedule of Deposit Balances by Type	At At September 30, December 31, (In thousands) 2022 2021 Noninterest-bearing: Demand $ 662,291 $ 626,587 Interest-bearing: NOW 212,823 197,884 Regular savings 153,602 155,267 Money market deposits 354,252 419,625 Certificates of deposit: Certificate accounts of $250,000 or more 9,808 5,078 Certificate accounts less than $250,000 78,733 55,454 Total interest-bearing 809,218 833,308 Total deposits $ 1,471,509 $ 1,459,895

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Borrowings [Abstract]
Schedule of Maturities of Advances from FHLB	(In thousands) Fiscal Year-End 2022 $ 67,000 2023 8,500 2025 5,000 Total $ 80,500

Other Repossessed Assets (Table

Other Repossessed Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Other Repossessed Assets [Abstract]
Activity Related To Other Repossessed Assets	2022 2021 (In thousands) Amount Amount Balance at January 1, $ — $ — Loans transferred to other repossessed assets 10,451 — Capitalized expenditures — — Direct write-downs — — Sales of other repossessed assets — — Balance at September 30, $ 10,451 $ —
Expense Related To Other Repossessed Assets	Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2022 2021 2022 2021 Net loss (gain) on sales $ — $ — $ — $ — Provision for unrealized losses — — — — Operating expenses, net of rental income 145 — 145 — $ 145 $ — $ 145 $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 State and municipal securities $ 10,839 $ — $ 10,839 $ — Asset-backed securities 6,488 — 6,488 — Government mortgage-backed securities 11,841 — 11,841 — Totals $ 29,168 $ — $ 29,168 $ — December 31, 2021 State and municipal securities $ 12,591 $ — $ 12,591 $ — Asset-backed securities 8,255 — 8,255 — Government mortgage-backed securities 15,991 — 15,991 — Totals $ 36,837 $ — $ 36,837 $ —
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis	Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 September 30, 2022 Impaired loans Commercial $ 18,260 $ — $ — $ 18,260 Other repossessed assets 10,451 — — 10,451 Totals $ 28,711 $ — $ — $ 28,711 December 31, 2021 Impaired loans Commercial $ 361 $ — $ — $ 361 Totals $ 361 $ — $ — $ 361
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 September 30, 2022 Impaired loans Commercial $ 18,260 Business or collateral valuation Comparable company or collateral evaluations 0 % - 28 % Other repossessed assets 10,451 Asset valuation Comparable asset evaluations 2 % - 5 % December 31, 2021 Impaired loans Commercial $ 361 Business valuation Comparable company evaluations 0 % - 24 %
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading	Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total September 30, 2022 Financial assets: Cash and cash equivalents $ 155,914 $ 155,914 $ — $ — $ 155,914 Available-for-sale debt securities 29,168 — 29,168 — 29,168 Federal Home Loan Bank of Boston stock 3,413 N/A N/A N/A N/A Loans, net 1,478,451 — — 1,412,615 1,412,615 Accrued interest receivable 5,973 — 5,973 — 5,973 Other repossessed assets 10,451 — — 10,451 10,451 Financial liabilities: Deposits 1,471,509 — 1,471,535 — 1,471,535 Borrowings 80,500 — 80,070 — 80,070 December 31, 2021 Financial assets: Cash and cash equivalents $ 153,115 $ 153,115 $ — $ — $ 153,115 Available-for-sale debt securities 36,837 — 36,837 — 36,837 Federal Home Loan Bank of Boston stock 785 N/A N/A N/A N/A Loans and loans held for sale, net 1,456,649 — — 1,468,013 1,468,013 Accrued interest receivable 5,703 — 5,703 — 5,703 Financial liabilities: Deposits 1,459,895 — 1,459,841 — 1,459,841 Borrowings 13,500 — 13,698 — 13,698

Regulatory Capital (Tables)

Regulatory Capital (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 Total Capital (to Risk Weighted Assets) $ 201,800 12.00 % $ 134,563 > 8.0 % $ 168,204 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 180,676 10.74 100,922 > 6.0 134,563 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 180,676 10.74 75,692 > 4.5 109,333 > 6.5 Tier 1 Capital (to Average Assets) 180,676 10.45 69,165 > 4.0 86,457 > 5.0 December 31, 2021 Total Capital (to Risk Weighted Assets) $ 221,865 14.18 % $ 125,177 > 8.0 % $ 156,472 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 202,369 12.93 93,883 > 6.0 125,177 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 202,369 12.93 70,412 > 4.5 101,706 > 6.5 Tier 1 Capital (to Average Assets) 202,369 12.07 67,072 > 4.0 83,840 > 5.0

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	9 Months Ended
	Sep. 30, 2022
Employee Stock Ownership Plan [Abstract]
Schedule of Shares Held by the ESOP	September 30, 2022 December 31, 2021 Allocated 461,772 372,014 Committed to be released 67,318 89,758 Unallocated 1,009,778 1,077,096 Total 1,538,868 1,538,868

(Loss) Earnings Per Common Sh_2

(Loss) Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
(Loss) Earnings Per Common Share [Abstract]
Schedule of Earning per Share	Three Months Ended Nine Months Ended (Dollars in thousands, except per share September 30, September 30, September 30, September 30, dollar amounts) 2022 2021 2022 2021 Net (Loss) Income attributable to common shareholders $ ( 35,309 ) $ 5,087 $ ( 24,165 ) $ 12,550 Average number of common shares issued 17,725,523 18,094,729 17,782,139 18,364,754 Less: average unallocated ESOP shares ( 1,017,339 ) ( 1,107,093 ) ( 1,039,560 ) ( 1,129,315 ) average unvested restricted stock ( 251,910 ) ( 349,784 ) ( 264,646 ) ( 364,765 ) Average number of common shares outstanding to calculate basic earnings per common share 16,456,274 16,637,852 16,477,933 16,870,674 Effect of dilutive unvested restricted stock and stock option awards — 598,000 — 473,473 Average number of common shares outstanding to calculate diluted earnings per common share 16,456,274 17,235,852 16,477,933 17,344,147 (Loss) Earnings per common share: Basic $ ( 2.15 ) $ 0.31 $ ( 1.47 ) $ 0.74 Diluted $ ( 2.15 ) $ 0.30 $ ( 1.47 ) $ 0.72

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation [Abstract]
Schedule of Fair Value of Options Granted Assumptions	2022 Vesting period (years) 5 Expiration date (years) 10 Expected volatility 33.47 % Expected life (years) 7.5 Expected dividend yield 1.01 % Risk free interest rate 2.63 % Fair value per option $ 5.82
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, 2021 1,558,963 $ 10.72 Granted 108,360 16.03 Forfeited — — Exercised ( 51,877 ) 9.92 Outstanding at September 30, 2022 1,615,446 $ 11.10 6.79 $ 5,467,000 Outstanding and expected to vest at September 30, 2022 1,615,446 $ 11.10 6.79 $ 5,467,000 Vested and Exercisable at September 30, 2022 808,958 $ 9.64 5.19 $ 3,794,000 Unrecognized compensation cost $ 2,774,000 Weighted average remaining recognition period (years) 3.44
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, 2021 277,925 $ 12.15 Granted 49,355 15.91 Forfeited — — Vested ( 13,575 ) 14.62 Unvested restricted stock awards at September 30, 2022 313,705 $ 12.63 Unrecognized compensation cost $ 3,243,000 Weighted average remaining recognition period (years) 3.47

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Information Regarding Operating Leases	September 30, December 31, 2022 2021 Weighted-average discount rate 3.59 % 3.57 % Range of lease expiration dates 1 - 14 years 1 - 14 years Range of lease renewal options 5 - 20 years 5 - 20 years Weighted-average remaining lease term 26.5 years 27.0 years
Schedule of Maturities of Lease Liabilities	September 30, December 31, Fiscal Year-End 2022 2021 (In thousands) 2022 $ 65 $ 261 2023 264 264 2024 270 270 2025 280 280 2026 291 291 Thereafter 6,033 6,033 Total lease payments 7,203 7,399 Less imputed interest ( 2,895 ) ( 3,012 ) Total lease liabilities $ 4,308 $ 4,387

Corporate Structure (Narrative)

Corporate Structure (Narrative) (Details)	9 Months Ended
	Sep. 30, 2022 item
Corporate Structure [Abstract]
Number of banking offices	7
Number of loan production offices	2

Risks and Uncertainties _ Dig_2

Risks and Uncertainties – Digital Asset Lending and Other Repossessed Assets (Narrative) (Details) - USD ($) $ in Thousands	4 Months Ended	9 Months Ended
	Jan. 17, 2023	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Unusual Risk or Uncertainty [Line Items]
Repossessed cryptocurrency mining rigs in exchange for loan forgiveness, amount		$ 27,400
Written down assets through charge to allowance for loan losses		11,300
Other repossessed assets		$ 10,451
Subsequent Event [Member]
Unusual Risk or Uncertainty [Line Items]
Written down assets through charge to allowance for loan losses	$ 5,600

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
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	$ 10,500,000		$ 14,400,000

Investment Securities (Summary

Investment Securities (Summary of Amortized Cost and Fair Value of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 32,326	$ 35,985
Gross Unrealized Gains	2	951
Gross Unrealized Losses	3,160	99
Fair Value	29,168	36,837
State And Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	11,922	12,002
Gross Unrealized Gains	2	625
Gross Unrealized Losses	1,085	36
Fair Value	10,839	12,591
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	7,416	8,141
Gross Unrealized Gains		118
Gross Unrealized Losses	928	4
Fair Value	6,488	8,255
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	12,988	15,842
Gross Unrealized Gains		208
Gross Unrealized Losses	1,147	59
Fair Value	$ 11,841	$ 15,991

Investment Securities (Schedule

Investment Securities (Schedule of Maturities of Debt Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Available-for-Sale, Amortized Cost
Due after one year through five years	$ 573
Due after five years through ten years	1,170
Due after ten years	10,179
Amortized Cost Basis	32,326	$ 35,985
Available-for-Sale, Fair Value
Due after one year through five years	553
Due after five years through ten years	1,154
Due after ten years	9,132
Fair Value	29,168	36,837
Government Mortgage-Backed Securities [Member]
Available-for-Sale, Amortized Cost
Amortized Cost Basis	12,988	15,842
Available-for-Sale, Fair Value
Fair Value	11,841	15,991
Asset-Backed Securities [Member]
Available-for-Sale, Amortized Cost
Amortized Cost Basis	7,416	8,141
Available-for-Sale, Fair Value
Fair Value	$ 6,488	$ 8,255

Investment Securities (Schedu_2

Investment Securities (Schedule of Aggregate Fair Value and Unrealized Losses of Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 24,682	$ 12,769
Unrealized Losses, Less than 12 Months	2,457	94
Fair Value, 12 Months or Longer	3,885	113
Unrealized Losses, 12 Months or Longer	703	5
Fair Value, Total	28,567	12,882
Unrealized Losses, Total	3,160	99
State And Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	10,238	2,950
Unrealized Losses, Less than 12 Months	1,085	36
Fair Value, Total	10,238	2,950
Unrealized Losses, Total	1,085	36
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	6,488	4,797
Unrealized Losses, Less than 12 Months	928	4
Fair Value, Total	6,488	4,797
Unrealized Losses, Total	928	4
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	7,956	5,022
Unrealized Losses, Less than 12 Months	444	54
Fair Value, 12 Months or Longer	3,885	113
Unrealized Losses, 12 Months or Longer	703	5
Fair Value, Total	11,841	5,135
Unrealized Losses, Total	$ 1,147	$ 59

Loans (Narrative) (Details)

Loans (Narrative) (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2022 USD ($) contract	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($) contract	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($) contract	Dec. 31, 2021 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of TDR | contract	0		0		3
Troubled debt restructurings	$ 20,500,000		$ 1,900,000	$ 20,500,000	$ 1,900,000	$ 22,700,000
Charged-off				$ 11,300,000
Commercial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of TDR | contract					3
Trouble Debt Restructurings, Commercial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Charged-off		$ 351,000	$ 1,600,000

Loans (Schedule of Loans) (Deta

Loans (Schedule of Loans) (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1]	$ 1,511,732		$ 1,457,411
Allowance for loan losses		(29,046)	$ (18,972)	(19,496)	$ (18,142)	$ (19,412)	$ (18,518)
Deferred loan fees, net		(4,235)		(4,112)
Net loans		1,478,451		1,433,803
Commercial Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1]	446,977		432,275
Allowance for loan losses		(5,019)	(4,890)	(4,935)	(5,486)	(5,753)	(6,095)
Commercial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1],[2]	767,426		726,241
Allowance for loan losses		(22,813)	(13,001)	(13,495)	(11,487)	(12,396)	(10,543)
Commercial [Member] | Loans Secured By Cryptocurrency Mining Rigs [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount		47,500		49,500
Commercial [Member] | Digital Asset [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount		82,500		120,500
Residential Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1]	8,902		812
Allowance for loan losses		(45)	(14)	(38)	(109)	(141)	(184)
Construction And Land Development [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1]	70,212		42,800
Allowance for loan losses		(885)	(738)	(479)	(437)	(445)	(447)
Consumer [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1]	562		1,519
Allowance for loan losses		(67)	(89)	(168)	(248)	(336)	(586)
Mortgage Warehouse [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans, amount	[1]	217,653		253,764
Allowance for loan losses		$ (217)	$ (240)	$ (381)	$ (375)	$ (341)	$ (663)
[1] Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amounts presented and 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. Includes $ 82.5 million and $ 120.5 million in loans to digital asset companies at September 30, 2022 and December 31, 2021, respectively. Included in those balances were $ 47.5 million and $ 49.5 million in loans secured by cryptocurrency mining rigs at September 30, 2022 and December 31, 2021, respectively

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 18,972	$ 19,412	$ 19,496	$ 18,518
Charge-offs	(46,367)	(1,607)	(48,091)	(3,357)
Recoveries	131	105	243	327
Provision (credit)	56,310	232	57,398	2,654
Ending balance	29,046	18,142	29,046	18,142
Commercial Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,890	5,753	4,935	6,095
Charge-offs				(150)
Recoveries				81
Provision (credit)	129	(267)	84	(540)
Ending balance	5,019	5,486	5,019	5,486
Commercial [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	13,001	12,396	13,495	10,543
Charge-offs	(46,350)	(1,570)	(48,039)	(2,979)
Recoveries	126	88	219	185
Provision (credit)	56,036	573	57,138	3,738
Ending balance	22,813	11,487	22,813	11,487
Residential Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	14	141	38	184
Charge-offs
Recoveries				2
Provision (credit)	31	(32)	7	(77)
Ending balance	45	109	45	109
Construction And Land Development [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	738	445	479	447
Charge-offs
Recoveries
Provision (credit)	147	(8)	406	(10)
Ending balance	885	437	885	437
Consumer [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	89	336	168	586
Charge-offs	(17)	(37)	(52)	(228)
Recoveries	5	17	24	59
Provision (credit)	(10)	(68)	(73)	(169)
Ending balance	67	248	67	248
Mortgage Warehouse [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	240	341	381	663
Charge-offs
Recoveries
Provision (credit)	(23)	34	(164)	(288)
Ending balance	$ 217	$ 375	$ 217	$ 375

Loans (Schedule of Allowance _2

Loans (Schedule of Allowance for Loan Losses and Related Loan Balances by Portfolio Segment) (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Allowance for loan losses:
Ending balance: Individually evaluated for impairment		$ 2,879		$ 1,616
Ending balance: Collectively evaluated for impairment		26,167		17,880
Total allowance for loan losses ending balance		29,046	$ 18,972	19,496	$ 18,142	$ 19,412	$ 18,518
Loans:
Ending balance: Individually evaluated for impairment	[1]	41,673		24,117
Ending balance: Collectively evaluated for impairment	[1]	1,470,059		1,433,294
Total Loans	[1]	1,511,732		1,457,411
Commercial Real Estate [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment		5,019		4,935
Total allowance for loan losses ending balance		5,019	4,890	4,935	5,486	5,753	6,095
Loans:
Ending balance: Individually evaluated for impairment	[1]	20,188		20,188
Ending balance: Collectively evaluated for impairment	[1]	426,789		412,087
Total Loans	[1]	446,977		432,275
Commercial [Member]
Allowance for loan losses:
Ending balance: Individually evaluated for impairment		2,879		1,616
Ending balance: Collectively evaluated for impairment		19,934		11,879
Total allowance for loan losses ending balance		22,813	13,001	13,495	11,487	12,396	10,543
Loans:
Ending balance: Individually evaluated for impairment	[1]	21,329		3,929
Ending balance: Collectively evaluated for impairment	[1]	746,097		722,312
Total Loans	[1],[2]	767,426		726,241
Residential Real Estate [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment		45		38
Total allowance for loan losses ending balance		45	14	38	109	141	184
Loans:
Ending balance: Individually evaluated for impairment	[1]	156
Ending balance: Collectively evaluated for impairment	[1]	8,746		812
Total Loans	[1]	8,902		812
Construction And Land Development [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment		885		479
Total allowance for loan losses ending balance		885	738	479	437	445	447
Loans:
Ending balance: Collectively evaluated for impairment	[1]	70,212		42,800
Total Loans	[1]	70,212		42,800
Consumer [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment		67		168
Total allowance for loan losses ending balance		67	89	168	248	336	586
Loans:
Ending balance: Collectively evaluated for impairment	[1]	562		1,519
Total Loans	[1]	562		1,519
Mortgage Warehouse [Member]
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment		217		381
Total allowance for loan losses ending balance		217	$ 240	381	$ 375	$ 341	$ 663
Loans:
Ending balance: Collectively evaluated for impairment	[1]	217,653		253,764
Total Loans	[1]	$ 217,653		$ 253,764
[1] Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amounts presented and 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. Includes $ 82.5 million and $ 120.5 million in loans to digital asset companies at September 30, 2022 and December 31, 2021, respectively. Included in those balances were $ 47.5 million and $ 49.5 million in loans secured by cryptocurrency mining rigs at September 30, 2022 and December 31, 2021, respectively

Loans (Schedule of Non-Accrual

Loans (Schedule of Non-Accrual Loans and Loan Delinquencies by Portfolio Segment) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	$ 1,511,732	$ 1,457,411
Nonaccrual Loans	21,567	2,892
30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	6,375	28
60 - 89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	9	122
90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	407	2,415
Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	6,791	2,565
Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	1,504,941	1,454,846
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	446,977	432,275
Nonaccrual Loans	57
Commercial Real Estate [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	446,977	432,275
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	767,426	726,241
Nonaccrual Loans	21,210	2,080
Commercial [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	6,028	13
Commercial [Member] | 60 - 89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	4	111
Commercial [Member] | 90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	263	1,860
Commercial [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	6,295	1,984
Commercial [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	761,131	724,257
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	8,902	812
Nonaccrual Loans	300	812
Residential Real Estate [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	333
Residential Real Estate [Member] | 90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	144	555
Residential Real Estate [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	477	555
Residential Real Estate [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	8,425	257
Construction And Land Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	70,212	42,800
Construction And Land Development [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	70,212	42,800
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	562	1,519
Consumer [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	14	15
Consumer [Member] | 60 - 89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	5	11
Consumer [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	19	26
Consumer [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	543	1,493
Mortgage Warehouse [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	217,653	253,764
Mortgage Warehouse [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	$ 217,653	$ 253,764

Loans (Schedule of Impaired Loa

Loans (Schedule of Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
With no related allowance recorded:
Recorded Investment	$ 35,451		$ 35,451		$ 22,203
Unpaid Principal Balance	66,283		66,283		22,544
Average Recorded Investment	35,416	$ 23,051	35,692	$ 23,125
Interest Income Recognized	163	237	488	638
With an allowance recorded:
Recorded Investment	6,222		6,222		1,914
Unpaid Principal Balance	6,222		6,222		3,086
Average Recorded Investment	6,222	2,438	6,222	2,689
Total
Recorded Investment	41,673		41,673		24,117
Unpaid Principal Balance	72,505		72,505		25,630
Related Allowance	2,879		2,879		1,616
Average Recorded Investment	41,638	25,489	41,914	25,814
Interest Income Recognized	163	237	488	638
Commercial Real Estate [Member]
With no related allowance recorded:
Recorded Investment	20,188		20,188		20,188
Unpaid Principal Balance	20,199		20,199		20,339
Average Recorded Investment	20,152	20,785	20,174	20,815
Interest Income Recognized	159	166	478	509
Total
Recorded Investment	20,188		20,188		20,188
Unpaid Principal Balance	20,199		20,199		20,339
Average Recorded Investment	20,152	20,785	20,174	20,815
Interest Income Recognized	159	166	478	509
Commercial [Member]
With no related allowance recorded:
Recorded Investment	15,107		15,107		2,015
Unpaid Principal Balance	45,928		45,928		2,205
Average Recorded Investment	15,108	2,107	15,361	2,149
Interest Income Recognized	2	70	5	123
With an allowance recorded:
Recorded Investment	6,222		6,222		1,914
Unpaid Principal Balance	6,222		6,222		3,086
Average Recorded Investment	6,222	2,438	6,222	2,689
Total
Recorded Investment	21,329		21,329		3,929
Unpaid Principal Balance	52,150		52,150		5,291
Related Allowance	2,879		2,879		$ 1,616
Average Recorded Investment	21,330	4,545	21,583	4,838
Interest Income Recognized	2	70	5	123
Residential Real Estate [Member]
With no related allowance recorded:
Recorded Investment	156		156
Unpaid Principal Balance	156		156
Average Recorded Investment	156	159	157	161
Interest Income Recognized	2	1	5	6
Total
Recorded Investment	156		156
Unpaid Principal Balance	156		156
Average Recorded Investment	156	159	157	161
Interest Income Recognized	$ 2	$ 1	$ 5	$ 6

Loans (Schedule of Troubled Deb

Loans (Schedule of Troubled Debt Restructurings) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 contract	Sep. 30, 2021 contract	Sep. 30, 2021 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	0	0	3
Pre-Modification Outstanding Recorded Investment			$ 1,868
Post-Modification Outstanding Recorded Investment			$ 1,868
Commercial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract			3
Pre-Modification Outstanding Recorded Investment			$ 1,868
Post-Modification Outstanding Recorded Investment			$ 1,868

Loans (Schedule of Loans by Ris

Loans (Schedule of Loans by Risk Rating and Portfolio Segment) (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment [Line Items]
Total Loans	[1]	$ 1,511,732	$ 1,457,411
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		1,328,961	1,355,067
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		118,443	70,925
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		54,901	29,338
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		263	562
Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		9,164	1,519
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	[1]	446,977	432,275
Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		399,773	383,460
Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		23,499	29,004
Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		23,705	19,811
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	[1],[2]	767,426	726,241
Commercial [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		641,323	676,081
Commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		94,944	41,921
Commercial [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		30,896	7,677
Commercial [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		263	562
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	[1]	8,902	812
Residential Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		300	812
Residential Real Estate [Member] | Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		8,602
Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	[1]	70,212	42,800
Construction And Land Development [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		70,212	41,762
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	[1]	562	1,519
Consumer [Member] | Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		562	1,519
Mortgage Warehouse [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	[1]	217,653	253,764
Mortgage Warehouse [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans		$ 217,653	$ 253,764
[1] Balances represent gross loans net of charge-offs and interest payments received and applied to principal. The difference between the amounts presented and 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. Includes $ 82.5 million and $ 120.5 million in loans to digital asset companies at September 30, 2022 and December 31, 2021, respectively. Included in those balances were $ 47.5 million and $ 49.5 million in loans secured by cryptocurrency mining rigs at September 30, 2022 and December 31, 2021, respectively

Deposits (Schedule of Deposit B

Deposits (Schedule of Deposit Balances by Type) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Noninterest-bearing:
Demand	$ 662,291	$ 626,587
Interest-bearing:
NOW	212,823	197,884
Regular savings	153,602	155,267
Money market deposits	354,252	419,625
Certificates of deposit:
Certificate accounts of $250,000 or more	9,808	5,078
Certificate accounts less than $250,000	78,733	55,454
Total interest-bearing	809,218	833,308
Total deposits	$ 1,471,509	$ 1,459,895

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Federal Home Loan Bank, Advances [Line Items]
Short-term borrowings	$ 67,000
Interest rate, short-term borrowings	3.15%
Long-term Debt	$ 13,500	$ 13,500
Federal Home Loan Bank [Member] | Minimum [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates on FHLB advances ranged from	1.21%
Federal Home Loan Bank [Member] | Maximum [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates on FHLB advances ranged from	3.01%
Federal Home Loan Bank [Member] | 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	Sep. 30, 2022	Dec. 31, 2021
Borrowings [Abstract]
2022	$ 67,000
2023	8,500
2025	5,000
Total borrowings	$ 80,500	$ 13,500

Other Repossessed Assets (Narra

Other Repossessed Assets (Narrative) (Details) - USD ($)	4 Months Ended	9 Months Ended
	Jan. 17, 2023	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Repossessed Cryptocurrency Mining Rigs In Exchange For Loan Forgiveness, Amount		$ 27,400,000
Charged-off		11,300,000
Other repossessed assets		10,451,000
Valuation allowance for other repossessed assets		$ 0		$ 0
Subsequent Event [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Charged-off	$ 5,600,000

Other Repossessed Assets (Activ

Other Repossessed Assets (Activity Related To Other Repossessed Assets) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Other Repossessed Assets [Abstract]
Balance at January 1,
Loans transferred to other repossessed assets	10,451
Capitalized expenditures
Direct write-downs
Sale of other repossessed assets
Balance at September 30,	$ 10,451

Other Repossessed Assets (Expen

Other Repossessed Assets (Expense Related To Other Repossessed Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Repossessed Assets [Abstract]
Net loss (gain) on sales
Provision for unrealized losses
Operating expenses, net of rental income	145		145
Other repossessed assets expense	$ 145		$ 145

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Repossessed Assets	$ 10,451
Repossessed cryptocurrency mining rigs in exchange for loan forgiveness, amount	27,400
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	28,711	361
Nonrecurring Basis [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	28,711	361
Nonrecurring Basis [Member] | Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	18,260	361
Nonrecurring Basis [Member] | Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	18,260	361
Nonrecurring Basis [Member] | Commercial [Member] | Significant Unobservable Inputs Level 3 [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	18,260	361
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Repossessed Assets	10,451
Carrying Amount [Member] | Nonrecurring Basis [Member] | Commercial [Member] | Significant Unobservable Inputs Level 3 [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	51,900	3,200
Reserves	2,800	1,600
Charge offs	$ 30,800	$ 1,200

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	$ 29,168	$ 36,837
State And Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	10,839	12,591
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)	6,488	8,255
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)	11,841	15,991
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)	29,168	36,837
Recurring Basis [Member] | State And Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	10,839	12,591
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)	6,488	8,255
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)	11,841	15,991
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)	29,168	36,837
Recurring Basis [Member] | Significant Other Observable Inputs Level 2 [Member] | State And Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	10,839	12,591
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)	6,488	8,255
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)	$ 11,841	$ 15,991

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	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 28,711	$ 361
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	28,711	361
Commercial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	18,260	361
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	18,260	361
Impaired Loans [Member] | Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	18,260	$ 361
Other Repossessed Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	10,451
Other Repossessed Assets [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 10,451

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	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 28,711	$ 361
Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	28,711	361
Commercial [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	18,260	361
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 18,260	$ 361
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	0%	0%
Commercial [Member] | Significant Unobservable Inputs Level 3 [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	28%	24%
Impaired Loans [Member] | Commercial [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 18,260	$ 361
Other Repossessed Assets [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	10,451
Other Repossessed Assets [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Impaired loans Fair Value	$ 10,451
Other Repossessed Assets [Member] | Significant Unobservable Inputs Level 3 [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	2%
Other Repossessed Assets [Member] | Significant Unobservable Inputs Level 3 [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	5%

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	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financial assets:
Debt securities available-for-sale	$ 29,168	$ 36,837
Federal Home Loan Bank of Boston stock	3,413	785
Loans, net	1,478,451	1,433,803
Accrued interest receivable	5,973	5,703
Other repossessed assets	10,451
Financial liabilities:
Deposits	1,471,509	1,459,895
Borrowings	13,500	13,500
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	155,914	153,115
Debt securities available-for-sale	29,168	36,837
Federal Home Loan Bank of Boston stock	3,413	785
Loans, net	1,478,451	1,456,649
Accrued interest receivable	5,973	5,703
Other repossessed assets	10,451
Financial liabilities:
Deposits	1,471,509	1,459,895
Borrowings	80,500	13,500
Fair Value [Member]
Financial assets:
Cash and cash equivalents	155,914	153,115
Debt securities available-for-sale	29,168	36,837
Loans, net	1,412,615	1,468,013
Accrued interest receivable	5,973	5,703
Other repossessed assets	10,451
Financial liabilities:
Deposits	1,471,535	1,459,841
Borrowings	80,070	13,698
Quoted Prices In Active Markets Identical Assets Level 1 [Member] | Fair Value [Member]
Financial assets:
Cash and cash equivalents	155,914	153,115
Significant Other Observable Inputs Level 2 [Member] | Fair Value [Member]
Financial assets:
Debt securities available-for-sale	29,168	36,837
Accrued interest receivable	5,973	5,703
Financial liabilities:
Deposits	1,471,535	1,459,841
Borrowings	80,070	13,698
Significant Unobservable Inputs Level 3 [Member] | Fair Value [Member]
Financial assets:
Loans, net	1,412,615	$ 1,468,013
Other repossessed assets	$ 10,451

Regulatory Capital (Narrative)

Regulatory Capital (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2021 shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 01, 2020 USD ($)
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		0.05%		0.05%
Capital conservation buffer				2.50%
Net (loss) income		$ (35,309)	$ 5,087	$ (24,165)	$ 12,550	$ 16,100	$ 12,100
Dividends paid				2,000
Dividends available		4,000		4,000
Available after dividend payment		$ 2,000		$ 2,000
Repurchase of common stock (in shares) | shares		0
Growth Act [Member] | Minimum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR leverage ratio								9%
Growth Act [Member] | Maximum [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CBLR total consolidated assets								$ 10,000,000
Common Stock [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Repurchase of common stock (in shares) | shares			357,877	180,434	1,226,976
Retained Earnings [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Net (loss) income		$ (35,309)	$ 5,087	$ (24,165)	$ 12,550
Repurchase Program [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Plan to repurchase (in shares) | shares	1,400,000
Repurchase of common stock (in shares) | shares				180,434

Regulatory Capital (Schedule of

Regulatory Capital (Schedule of Bank's Actual Capital Amounts and Ratios) (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Regulatory Capital [Abstract]
Total Capital (to Risk Weighted Assets), Actual, Amount	$ 201,800	$ 221,865
Total Capital (to Risk Weighted Assets), Actual, Ratio	0.1200	0.1418
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 134,563	$ 125,177
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	$ 168,204	$ 156,472
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	$ 180,676	$ 202,369
Tier 1 Capital (to Risk Weighted Assets), Actual Capital, Ratio	0.1074	0.1293
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 100,922	$ 93,883
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	$ 134,563	$ 125,177
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	$ 180,676	$ 202,369
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1074	0.1293
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 75,692	$ 70,412
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	$ 109,333	$ 101,706
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	$ 180,676	$ 202,369
Tier 1 Capital (to Average Assets), Actual Capital, Ratio	0.1045	0.1207
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Amount	$ 69,165	$ 67,072
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	$ 86,457	$ 83,840
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	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
ESOP shares	1,538,868		1,538,868		1,538,868
ESOP prime rate percentage					3.25%
Purchase by ESOP (in shares)			89,758
Fair value of unallocated shares	$ 14,400		$ 14,400
Compensation expense	$ 334	$ 362	$ 1,066	$ 1,009
Old Provident [Member]
ESOP shares	1,538,868		1,538,868
Proceeds of a loan			$ 11,800
ESOP payable term			15 years

Employee Stock Ownership Plans

Employee Stock Ownership Plans (Schedule of Shares Held by the ESOP) (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Share-Based Compensation
Allocated	461,772	372,014
Committed to be allocated	67,318	89,758
Unallocated	1,009,778	1,077,096
Total	1,538,868	1,538,868

(Loss) Earnings Per Common Sh_3

(Loss) Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
(Loss) Earnings Per Common Share [Abstract]
Anti-dilutive shares	150,000	730,115

(Loss) Earnings Per Common Sh_4

(Loss) Earnings Per Common Share (Schedule of Earning per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
(Loss) Earnings Per Common Share [Abstract]
Net (Loss) Income attributable to common shareholders	$ (35,309)	$ 5,087	$ (24,165)	$ 12,550
Average number of common shares issued	17,725,523	18,094,729	17,782,139	18,364,754
Less:
average unallocated ESOP shares	(1,017,339)	(1,107,093)	(1,039,560)	(1,129,315)
average unvested restricted stock	(251,910)	(349,784)	(264,646)	(364,765)
Average number of common shares outstanding to calculate basic earnings per common share	16,456,274	16,637,852	16,477,933	16,870,674
Effect of dilutive unvested restricted stock and stock option awards		598,000		473,473
Average number of common shares outstanding to calculate diluted earnings per common share	16,456,274	17,235,852	16,477,933	17,344,147
(Loss) Earnings per common share:
Basic (in dollars per share)	$ (2.15)	$ 0.31	$ (1.47)	$ 0.74
Diluted (in dollars per share)	$ (2.15)	$ 0.30	$ (1.47)	$ 0.72

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock Option [Member]
Share-Based Compensation [Line Items]
Options expiration period			10 years
Vesting period (years)			5 years
Share based compensation expenses	$ 223	$ 316	$ 650	$ 892
Restricted Stock [Member]
Share-Based Compensation [Line Items]
Share based compensation expenses	$ 257	$ 384	$ 743	$ 1,100
2016 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Shares reserved	902,344		902,344
2016 Equity Plan [Member] | Restricted Stock [Member]
Share-Based Compensation [Line Items]
Shares reserved	360,935		360,935
2020 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Shares reserved	1,021,239		1,021,239
2020 Equity Plan [Member] | Restricted Stock [Member]
Share-Based Compensation [Line Items]
Shares reserved	408,495		408,495
2016 And 2020 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Options expiration period			10 years
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 Fair Value of Options Granted Assumptions) (Details) - Stock Option [Member]	9 Months Ended
	Sep. 30, 2022 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)	5 years
Expiration date (years)	10 years
Expected volatility	33.47%
Expected life (years)	7 years 6 months
Expected dividend yield	1.01%
Risk free interest rate	2.63%
Fair value per option	$ 5.82

Share-Based Compensation (Sch_2

Share-Based Compensation (Schedule of Stock Option Grants Activity) (Details) - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022
Stock Option Awards
Outstanding, beginning	1,558,963
Granted	108,360
Forfeited
Exercised	(51,877)
Outstanding, ending	1,615,446
Outstanding and expected to vest at September 30, 2022	1,615,446
Vested and Exercisable at September 30, 2022	808,958
Unrecognized compensation cost	$ 2,774
Weighted average remaining recognition period (years)	3 years 5 months 8 days
Weighted Average Exercise Price
Outstanding, beginning	$ 10.72
Granted	16.03
Forfeited
Exercised	9.92
Outstanding, ending	11.10
Outstanding and expected to vest at September 30, 2022	11.10
Vested and Exercisable at September 30, 2022	$ 9.64
Weighted Average Remaining Contractual Term (years)
Outstanding at September 30, 2022	6 years 9 months 14 days
Outstanding and expected to vest at September 30, 2022	6 years 9 months 14 days
Vested and Exercisable at September 30, 2022	5 years 2 months 8 days
Aggregate Intrinsic Value
Outstanding at September 30, 2022	$ 5,467,000
Outstanding and expected to vest at September 30, 2022	5,467,000
Vested and Exercisable at September 30, 2022	$ 3,794,000

Share-Based Compensation (Sch_3

Share-Based Compensation (Schedule of Activity in Restricted Stock Awards Under the Equity Plan) (Details) - Restricted Stock [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Number of Shares
Unvested restricted stock awards, beginning | shares	277,925
Granted | shares	49,355
Forfeited | shares
Vested | shares	(13,575)
Unvested restricted stock awards, ending | shares	313,705
Unrecognized compensation cost | $	$ 3,243
Weighted average remaining recognition period (years)	3 years 5 months 19 days
Weighted Average Grant Price
Unvested restricted stock awards, beginning | $ / shares	$ 12.15
Granted | $ / shares	15.91
Forfeited | $ / shares
Vested | $ / shares	14.62
Unvested restricted stock awards, ending | $ / shares	$ 12.63

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) item	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Leases [Abstract]
Operating right-of-use assets	$ 3,981		$ 4,102
Operating lease liabilities	$ 4,308		$ 4,387
Number of leased branch locations | item	2
Number of leased loan production office | item	1
Operating leases expense	$ 236	$ 236

Leases (Schedule of Information

Leases (Schedule of Information Regarding Operating Leases) (Details)	Sep. 30, 2022	Dec. 31, 2021
Leases [Line Items]
Weighted-average discount rate	3.59%	3.57%
Weighted-average remaining lease term	26 years 6 months	27 years
Minimum [Member]
Leases [Line Items]
Range of lease expiration dates	1 year	1 year
Range of lease renewal options	5 years	5 years
Maximum [Member]
Leases [Line Items]
Range of lease expiration dates	14 years	14 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	Sep. 30, 2022	Dec. 31, 2021
Fiscal Year-End
2022	$ 65	$ 261
2023	264	264
2024	270	270
2025	280	280
2026	291	291
Thereafter	6,033	6,033
Total lease payments	7,203	7,399
Less imputed interest	(2,895)	(3,012)
Total lease liabilities	$ 4,308	$ 4,387

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		4 Months Ended	9 Months Ended
	Dec. 16, 2022	Dec. 31, 2022	Sep. 30, 2022	Jan. 17, 2023	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Recorded Investment			$ 41,673		$ 41,673	$ 24,117
Repossessed cryptocurrency mining rigs in exchange for loan forgiveness, amount					27,400
Written down assets through charge to allowance for loan losses					11,300
Other repossessed assets			10,451		10,451
Subsequent Event [Member]
Subsequent Event [Line Items]
Agreement to sell loans secured by digital asset mining rigs	$ 50,100
Cash received from sale of loans	15,000
Principal balance of replacement loan secured by digital asset mining rigs	$ 6,200
Written down assets through charge to allowance for loan losses				$ 5,600
Retroactively Adjusted [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Written down assets through charge to allowance for loan losses		$ 29,000
Cryptocurrency Mining Rigs [Member]
Subsequent Event [Line Items]
Recorded Investment			51,000		$ 51,000
Incurred charge from specific reserve taken from loans secured by digital asset mining rigs			$ 31,700