Provident Bancorp (PVBC) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 03, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Period End Date	Mar. 31, 2024
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		17,656,412
Entity Central Index Key	0001778784

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 21,341	$ 22,200
Short-term investments	169,510	198,132
Cash and cash equivalents	190,851	220,332
Debt securities available-for-sale (at fair value)	27,912	28,571
Federal Home Loan Bank stock, at cost	3,605	4,056
Total loans	1,356,580	1,342,729
Allowance for credit losses - loans	(16,006)	(21,571)
Net loans	1,340,574	1,321,158
Bank owned life insurance	45,037	44,735
Premises and equipment, net	12,835	12,986
Accrued interest receivable	5,921	6,090
Right-of-use assets	3,739	3,780
Deferred tax asset, net	13,048	14,461
Other assets	15,236	14,140
Total assets	1,658,758	1,670,309
Deposits:
Noninterest-bearing	310,343	308,769
Interest-bearing	1,021,735	1,022,453
Total deposits	1,332,078	1,331,222
Borrowings:
Short-term borrowings	80,000	95,000
Long-term borrowings	9,663	9,697
Total borrowings	89,663	104,697
Operating lease liabilities	4,142	4,171
Other liabilities	5,632	8,317
Total liabilities	1,431,515	1,448,407
Shareholders' equity:
Preferred stock; $.01 par value, 50,000 shares authorized: no shares issued and outstanding
Common stock, $0.01 par value, 100,000,000 shares authorized; 17,659,146 and 17,677,479 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	177	177
Additional paid-in capital	124,415	124,129
Retained earnings	111,266	106,285
Accumulated other comprehensive loss	(1,602)	(1,496)
Unearned compensation - ESOP	(7,013)	(7,193)
Total shareholders' equity	227,243	221,902
Total liabilities and shareholders' equity	$ 1,658,758	$ 1,670,309

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
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	17,659,146	17,677,479
Common stock, shares outstanding	17,659,146	17,677,479

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest and dividend income:
Interest and fees on loans	$ 20,069	$ 20,006
Interest and dividends on debt securities available-for-sale	237	238
Interest on short-term investments	1,729	383
Total interest and dividend income	22,035	20,627
Interest expense:
Interest on deposits	9,340	3,901
Interest on short-term borrowings	178	824
Interest on long-term borrowings	31	86
Total interest expense	9,549	4,811
Net interest and dividend income	12,486	15,816
Credit loss (benefit) expense - loans	(5,543)	2,935
Credit loss benefit - off-balance sheet credit exposures	(38)	(1,156)
Total credit loss (benefit) expense	(5,581)	1,779
Net interest and dividend income after credit loss (benefit) expense	18,067	14,037
Noninterest income:
Customer service fees on deposit accounts	674	979
Service charges and fees - other	309	451
Bank owned life insurance income	302	266
Other income	71	251
Total noninterest income	1,356	1,947
Noninterest expense:
Salaries and employee benefits	8,145	8,544
Occupancy expense	443	421
Equipment expense	152	144
Deposit insurance	333	278
Data processing	413	361
Marketing expense	18	83
Professional fees	1,314	1,403
Directors' compensation	174	200
Software depreciation and implementation	543	417
Insurance expense	301	452
Service fees	242	236
Other	657	672
Total noninterest expense	12,735	13,211
Income before income tax expense	6,688	2,773
Income tax expense	1,707	670
Net income	$ 4,981	$ 2,103
Earnings per share:
Basic	$ 0.30	$ 0.13
Diluted	$ 0.30	$ 0.13
Weighted Average Shares:
Basic	16,669,451	16,530,627
Diluted	16,720,653	16,531,266

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 4,981	$ 2,103
Other comprehensive (loss) income:
Unrealized holding (losses) gains arising during the period on debt securities available-for-sale	(139)	819
Unrealized (loss) gain	(139)	819
Income tax effect	33	(188)
Total comprehensive (loss) income	(106)	631
Comprehensive income	$ 4,875	$ 2,734

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] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Unearned Compensation ESOP [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Balance at Dec. 31, 2022	$ 177	$ 122,847	$ 696	$ 94,630	$ (2,200)	$ (7,912)	$ 696	$ 207,542
Balance (in shares) at Dec. 31, 2022	17,669,698
Net income				2,103				2,103
Dividends forfeited				3				3
Other comprehensive income (loss)					631			631
Stock-based compensation expense, net of forfeitures		319						319
Restricted stock award grants, net of forfeitures		(2)						(2)
Restricted stock award grants, net of forfeitures (in shares)	16,337
Stock options exercised, net		(27)						(27)
Stock options exercised, net (in shares)	7,783
ESOP shares earned		7				180		187
Balance at Mar. 31, 2023	$ 177	123,144		97,432	(1,569)	(7,732)		211,452
Balance (in shares) at Mar. 31, 2023	17,693,818
Balance at Dec. 31, 2022	$ 177	122,847	$ 696	94,630	(2,200)	(7,912)	$ 696	$ 207,542
Balance (in shares) at Dec. 31, 2022	17,669,698
Repurchase of common stock (in shares)								0
Balance at Dec. 31, 2023	$ 177	124,129		106,285	(1,496)	(7,193)		$ 221,902
Balance (in shares) at Dec. 31, 2023	17,677,479
Net income				4,981				4,981
Other comprehensive income (loss)					(106)			(106)
Stock-based compensation expense, net of forfeitures		261						261
Restricted stock award grants, net of forfeitures		(20)						$ (20)
Restricted stock award grants, net of forfeitures (in shares)	(18,333)
Repurchase of common stock (in shares)								0
ESOP shares earned		45				180		$ 225
Balance at Mar. 31, 2024	$ 177	$ 124,415		$ 111,266	$ (1,602)	$ (7,013)		$ 227,243
Balance (in shares) at Mar. 31, 2024	17,659,146

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 4,981	$ 2,103
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net of accretion	33	40
ESOP expense	225	187
Change in deferred loan fees, net	(277)	(610)
(Benefit) provision for credit losses	(5,581)	1,779
Depreciation and amortization	278	268
Net gain on other repossessed assets		(145)
Decrease in accrued interest receivable	169	761
Deferred tax expense	1,446	664
Share-based compensation expense	261	319
Bank-owned life insurance income	(302)	(266)
Principal repayments of operating lease liabilities	(29)	(27)
Net increase in other assets	(1,096)	(3,735)
Net decrease in other liabilities	(2,647)	(4,404)
Net cash used in operating activities	(2,539)	(3,066)
Cash flows from investing activities:
Proceeds from pay downs, maturities and calls of debt securities available-for-sale	487	635
Redemption (purchase) of Federal Home Loan Bank stock	451	1,171
Loan originations net of principal collections	(13,596)	92,920
Proceeds from other repossessed asset sales		6,196
Additions to premises and equipment	(86)	(87)
Net cash (used in) provided by investing activities	(12,744)	100,835
Cash flows from financing activities:
Net increase (decrease) in noninterest-bearing accounts	1,574	(59,390)
Net (decrease) increase in interest-bearing accounts	(718)	183,729
Net cash dividends forfeited on common stock		3
Payments from exercise of stock options, net		(27)
Net change in short-term borrowings	(15,000)	(58,500)
Repayments of Federal Home Loan Bank long-term advances	(34)	(33)
Shares surrendered related to tax withholdings on restricted stock awards	(20)	(2)
Net cash (used in) provided by financing activities	(14,198)	65,780
Net (decrease) increase in cash and cash equivalents	(29,481)	163,549
Cash and cash equivalents at beginning of year	220,332	80,629	$ 80,629
Cash and cash equivalents at end of year	190,851	244,178	$ 220,332
Supplemental disclosures:
Interest paid	9,328	3,919
Income taxes paid	$ 108	$ 128

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation The accompanying unaudited financial statements of Provident Bancorp, Inc. (the “Company”) were prepared in accordance with the instructions for Form 10-Q and with Regulation S-X and do not include information or footnotes necessary for a complete presentation of the financial condition, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, in the opinion of management, all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three-month period ended March 31, 2024 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. 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 28, 2024. 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, and 5 Market Street Security Corporation. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account.

Corporate Structure

Corporate Structure	3 Months Ended
	Mar. 31, 2024
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 its main office in Amesbury, Massachusetts, as well as two branch offices in the Northeastern Massachusetts area, three branch offices in Southeastern New Hampshire and one branch located in Bedford, New Hampshire. The Bank also has a loan production office in Ponte Vedra, Florida. BankProv is a Massachusetts-chartered stock savings bank that offers both traditional and technology-driven banking solutions to its consumer and commercial customers. The Bank’s primary deposit products are checking, savings, and term certificate accounts and its primary lending products are commercial real estate, commercial, and mortgage warehouse loans.

Risks and Uncertainties

Risks and Uncertainties	3 Months Ended
	Mar. 31, 2024
Risks and Uncertainties [Abstract]
Risks and Uncertainties	(3) Risks and Uncertainties Current Banking Environment Industry events have led to a greater focus by financial institutions, investors and regulators on liquidity positions of and funding sources for financial institutions, the composition of their deposits, including the amount of uninsured deposits, the amount of accumulated other comprehensive loss, capital levels and interest rate risk management. The Company believes it is well insulated from the fallout resulting from the market turmoil due to the following considerations:  The Bank’s deposit and loan portfolios were and continue to be well-diversified;  The Bank is a member of the Depositors Insurance Fund, a private industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation limits;  We have access to multiple funding sources and sufficient capacity to borrow, if needed. As of March 31, 2024 between the Federal Home Loan Bank of Boston and the Federal Reserve Bank of Boston’s ("FRB") borrower-in-custody (“BIC”) program, we had the ability to borrow $ 416.6 million, of which $ 89.7 million was outstanding as of that date;  Our securities portfolio represented 1.7 % of total assets as of March 31, 2024 and the accumulated other comprehensive loss on the portfolio was $ 1.6 million, or 0.7 % of shareholders’ equity as of that date. 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. Based on our ability to borrow, cash position and low deposit outflows there is no expected reliance on security sales to meet operational needs.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	(4) Recent Accounting Pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures (“ASU 2023-09”) , to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires annual disclosure of specific categories in the rate reconciliation table and separate disclosure for reconciling items that exceed a quantitative threshold. ASU 2023-09 also requires annual disclosure of the amount of income taxes paid disaggregated by federal, state, and foreign taxes, and separately, the amount of income taxes paid disaggregated by individual taxing jurisdictions in which income taxes paid exceed a quantitative threshold. ASU 2023-09 is effective for the Company for fiscal years beginning after December 15, 2024 with early adoption permitted. The Company is currently evaluating the impact of this Accounting Standard Update with respect to its consolidated financial statements.

Debt Securities

Debt Securities	3 Months Ended
	Mar. 31, 2024
Debt Securities [Abstract]
Debt Securities	(5) Debt Securities Debt securities are classified as available-for-sale when they might be sold before maturity. Debt securities available-for-sale are valued at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. The following tables summarize the amortized cost, allowance for credit losses, and fair value of debt securities available-for-sale at March 31, 2024 and December 31, 2023 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: Amortized Gross Gross Allowance Cost Unrealized Unrealized for Credit Fair (In thousands) Basis Gains Losses Losses Value March 31, 2024 State and municipal $ 11,758 $ 4 $ 442 $ — $ 11,320 Asset-backed securities 8,255 — 769 — 7,486 Government mortgage-backed securities 9,976 — 870 — 9,106 Total debt securities available-for-sale $ 29,989 $ 4 $ 2,081 $ — $ 27,912 Amortized Gross Gross Allowance Cost Unrealized Unrealized for Credit Fair (In thousands) Basis Gains Losses Losses Value December 31, 2023 State and municipal $ 11,785 $ 14 $ 399 $ — $ 11,400 Asset-backed securities 8,319 — 784 — 7,535 Government mortgage-backed securities 10,405 — 769 — 9,636 Total debt securities available-for-sale $ 30,509 $ 14 $ 1,952 $ — $ 28,571 Interest income includes amortization of purchase premium or discount . Premiums and discounts on securities are generally amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Premiums on callable debt securities are amortized to their earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. There were no realized gains or losses on sales and calls of securities during the three months ended March 31, 2024 or 2023. Securities with carrying amounts of $ 7.7 million and $ 8.1 million were pledged to secure available borrowings with the Federal Home Loan Bank at March 31, 2024 and December 31, 2023, respectively. The scheduled maturities of debt securities at March 31, 2024 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 in one year $ 554 $ 545 Due after one year through five years 599 601 Due after five years through ten years 1,425 1,426 Due after ten years 9,180 8,748 Government mortgage-backed securities 9,976 9,106 Asset-backed securities 8,255 7,486 $ 29,989 $ 27,912 At the time a debt security is placed on non-accrual status, generally when any principal or interest payments become 90 days or more delinquent or if full collection of interest or principal becomes uncertain, interest accrued but not received is reversed against interest income. There were no debt securities on non-accrual status and therefore there was no accrued interest related to debt securities reversed against interest income for the three months ended March 31, 2024 or 2023. The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or longer are as follows at March 31, 2024 and December 31, 2023: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses March 31, 2024 Temporarily impaired securities: State and municipal $ 1,305 $ 4 $ 7,206 $ 438 $ 8,511 $ 442 Asset-backed securities 1,775 43 5,711 726 7,486 769 Government mortgage-backed securities 1,380 10 7,726 860 9,106 870 Total temporarily impaired debt securities $ 4,460 $ 57 $ 20,643 $ 2,024 $ 25,103 $ 2,081 December 31, 2023 Temporarily impaired securities: State and municipal $ — $ — $ 7,269 $ 399 $ 7,269 $ 399 Asset-backed securities 1,802 16 5,733 768 7,535 784 Government mortgage-backed securities — — 9,574 769 9,574 769 Total temporarily impaired debt securities $ 1,802 $ 16 $ 22,576 $ 1,936 $ 24,378 $ 1,952 The Company expects to recover its amortized cost basis on all debt securities. Furthermore, the Company does not intend to sell nor does it anticipate that it will be required to sell these securities in an unrealized loss position as of March 31, 2024, prior to this recovery. The Company’s ability and intent to hold these securities until recovery is supported by the Company’ strong capital and liquidity positions as well as its historically low portfolio turnover. The following summarizes, by investment security type, the basis for the conclusion that the debt securities in an unrealized loss position were not other-than-temporarily impaired at Mach 31, 2024: State and municipal securities: At March 31, 2024, 13 of the 19 securities in the Company’s portfolio of state and municipal securities were in unrealized loss positions. Aggregate unrealized losses represented 4.9 % of the amortized cost of state and municipal securities in unrealized loss positions. The Company continually monitors the state and municipal securities sector of the market carefully and periodically evaluates the appropriate level of exposure to the market. At this time, the Company feels the securities in this portfolio carry minimal risk of default and the Company is appropriately compensated for that risk. There were no material underlying downgrades during the quarter. All securities are performing. Asset-backed securities: At March 31, 2024, all five of the securities in the Company’s portfolio of asset-backed securities were in unrealized loss positions. Aggregate unrealized losses represented 9.3 % of the amortized cost of asset-backed securities in unrealized loss positions. The U.S. Small Business Administration (“SBA”) guarantees the contractual cash flows of all of the Company’s asset-backed securities. The securities are investment grade rated and there are no material underlying credit downgrades during the quarter. All securities are performing. Government mortgage-backed securities: At March 31, 2024, all 29 of the securities in the Company’s portfolio of government mortgage-backed securities were in unrealized loss positions. Aggregate unrealized losses represented 8.7 % of the amortized cost of government mortgage-backed securities in unrealized loss positions. The Federal National Mortgage Association (“FNMA”), Federal Home Loan Mortgage Corporation (“FHLMC”), and Government National Mortgage Association (“GNMA”) guarantee the contractual cash flows of all of the Company’s mortgage-backed securities. The securities are investment grade rated and there are no material underlying credit downgrades during the quarter. All securities are performing. Allowance for Credit Losses – Available-For-Sale Securities: For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through a provision for credit losses charged to earnings. For debt securities available-for-sale that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Changes in the allowance for credit losses are recorded as credit loss expense (or reversal). Losses are charged against the allowance when management believes the uncollectibility of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on available-for-sale debt securities totaled $ 168,000 at March 31, 2024 and is excluded from the estimate of credit losses.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses for Loans	3 Months Ended
	Mar. 31, 2024
Loans and Allowance for Credit Losses for Loans [Abstract]
Loans and Allowance for Credit Losses for Loans	(6) Loans and Allowance for Credit Losses for Loans Loans: A summary of loans is as follows: March 31, December 31, (In thousands) 2024 2023 Commercial real estate $ 478,293 $ 468,928 Construction and land development 76,785 77,851 Residential real estate 6,932 7,169 Mortgage warehouse 212,389 166,567 Commercial 164,789 176,124 Enterprise value 407,233 433,633 Digital asset 10,071 12,289 Consumer 88 168 1,356,580 1,342,729 Allowance for credit losses on loans ( 16,006 ) ( 21,571 ) Net loans $ 1,340,574 $ 1,321,158 Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost net of the allowance for credit losses for loans. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts and deferred loan fees and costs. Accrued interest receivable on loans totaled $ 5.8 million and $ 5.9 million at March 31, 2024 and December 31, 2023, respectively, and was reported as accrued interest receivable on the Consolidated Balance Sheets and is excluded from the estimate of credit losses. Interest income is accrued on unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using either the level-yield or straight-line method without anticipating prepayments. At the time a loan is place on non-accrual, generally at 90 days past due, or earlier if collection of principal or interest is considered doubtful, all interest accrued but not received is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Allowance for Credit Losses for Loans: The allowance for credit losses for loans (“ACLL”) is a valuation account that is deducted from the amortized cost basis of the loans to present the net amount expected to be collected. Loans are charged off against the allowance when management believes the un-collectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance and do not exceed the aggregate of amounts previously charged-off. The Company employs a process and methodology to estimate the ACLL that evaluates both quantitative and qualitative factors. The methodology for evaluating quantitative factors involves pooling loans into portfolio segments for loans that share similar risk characteristics. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. The Company has identified the following portfolio segments: Commercial real estate: Loans in this segment are primarily income-producing properties throughout Massachusetts and New Hampshire. The underlying cash flows generated by the properties can be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, can have an effect on the credit quality in this segment. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction and land development: Loans in this segment primarily include speculative and pre-sold real estate development loans for which payment is derived from sale of the property and a conversion of the construction loans to permanent loans for which payment is then derived from cash flows of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions. Residential real estate: All loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. We no longer originate residential real estate loans, and previously we did not typically originate loans with a loan-to-value ratio greater than 80% or grant subprime loans. Loans with loan to value ratios greater than 80% required the purchase of private mortgage insurance. Mortgage warehouse: Loans in this segment are primarily facility lines to non-bank mortgage origination companies. The underlying collateral of these loans are residential real estate loans. Loans are originated by the mortgage companies for sale into secondary markets, which is typically within 15 days of the loan closing. The primary source of repayment is the cash flow upon the sale of the loans. The credit risk associated with this type of lending is the risk that the mortgage companies are unable to sell the loans. Commercial: Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, can have an effect on the credit quality in this segment. Enterprise value: Loans in this segment are made to small- and medium-size businesses in a senior secure position and are generally secured by the enterprise value of the business. The enterprise value consists of the going concern value of the business and takes into account the value of business assets (both tangible and intangible). Repayment is expected from the cash flows of the business. Economic and industry specific conditions can have an effect on the credit quality of this segment. Digital asset: We no longer originate digital asset loans. Loans in this segment were made to businesses in the digital asset space and are generally secured by digital asset mining equipment or by the United States dollar value of digital currency assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, resultant decreased consumer spending as well as decreases in the value of digital currency can have an effect on the credit quality of this segment. Consumer: Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower. Management estimates the ACLL balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as portfolio mix, delinquency levels, or term as well as for changes in economic conditions, such as changes in unemployment rates, property values, gross domestic product (“GDP”), home pricing index (“HPI”), or other relevant factors. Incorporated in the estimate for the ACLL is consideration of qualitative factors, which include the following for all loan pools:  Changes in lending policies and procedures, including changes in underwriting standards and collections, charge offs, and recovery practices.  Changes in the experience, depth, and ability of lending management.  Changes in the quality of the organization's loan review system.  The existence and effect of any concentrations of credit and changes in the levels of such concentrations.  The effect of other external factors (i.e. legal and regulatory requirements) on the level of estimated credit losses. In addition to the above, the mortgage warehouse pool includes a qualitative factor for changes in international, national, regional, and local conditions as the ACLL model for this loan pool does not apply an economic regression model in the calculation of the historical loss rate. The determination of qualitative factors involves significant judgment. The allowance for unfunded commitments is maintained at a level by the Company to be sufficient to absorb expected lifetime losses related to unfunded credit facilities (including unfunded loan commitments and letters of credit). The Company measures the ACLL using the following methods: Portfolio Segment Measurement Method Loss Driver Commercial real estate Discounted cash flow National unemployment rate, national GDP Construction and land development Discounted cash flow National unemployment rate, national GDP Residential real estate Discounted cash flow National unemployment rate, national HPI Mortgage warehouse Remaining life method Not applicable Commercial Discounted cash flow National unemployment rate, national GDP Enterprise value Discounted cash flow National unemployment rate, national GDP Digital asset Discounted cash flow National unemployment rate, national GDP Consumer Discounted cash flow National unemployment rate, national GDP When the discounted cash flow method is used to determine the allowance for credit losses, management adjusts the effective interest rate used to discount expected cash flows to incorporate expected prepayments. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a restructuring will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. When the remaining life method is used to determine the allowance for credit losses, a calculated loss rate is applied to the pool of loans based on the remaining life expectation of the pool. The remaining life expectation is based on management’s reasonable expectation at the reporting date. Loans that do not share risk characteristics, whether or not they are performing in accordance with their loan terms, are evaluated on an individual basis. Loans evaluated individually are not included in the collective evaluation. The Company will individually evaluate a loan when, based on current information and events, it is probable that it will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in making this determination include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Insignificant payment delays and payment shortfalls generally are not considered reason enough to individually analyze a loan. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. When management determines that a loan should be individually analyzed, expected credit losses are based on either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral at the reporting date, adjusted for selling costs, as appropriate. The following table presents the activity in the allowance for credit losses for loans by portfolio segment for the three months ended March 31, 2024 and 2023: Commercial Construction real and land Residential Mortgage Enterprise Digital (In thousands) estate development real estate warehouse Commercial value asset Consumer Total Balance at December 31, 2023 $ 4,471 $ 407 $ 75 $ 42 $ 2,493 $ 8,166 $ 5,915 $ 2 $ 21,571 Charge-offs — — — — ( 5 ) — — ( 18 ) ( 23 ) Recoveries — — — — — — — 1 1 Provision (credit) 50 ( 18 ) ( 3 ) 12 ( 210 ) ( 1,599 ) ( 3,791 ) 16 ( 5,543 ) Balance at March 31, 2024 $ 4,521 $ 389 $ 72 $ 54 $ 2,278 $ 6,567 $ 2,124 $ 1 $ 16,006 Balance at December 31, 2022 $ 5,062 $ 909 $ 43 $ 213 $ 3,582 $ 7,712 $ 10,493 $ 55 $ 28,069 Impact of adopting ASC 326 ( 745 ) ( 513 ) 18 ( 159 ) ( 711 ) ( 270 ) ( 157 ) ( 51 ) ( 2,588 ) Charge-offs — — — — ( 41 ) ( 3,560 ) — ( 16 ) ( 3,617 ) Recoveries — — — — 10 — — 3 13 Provision (credit) ( 68 ) 74 ( 4 ) ( 16 ) ( 225 ) 6,279 ( 3,117 ) 12 2,935 Balance at March 31, 2023 $ 4,249 $ 470 $ 57 $ 38 $ 2,615 $ 10,161 $ 7,219 $ 3 $ 24,812 The following table presents loan delinquencies by portfolio segment at March 31, 2024 and December 31, 2023: 90 Days Total 30 - 59 60 - 89 or More Past Total Total (In thousands) Days Days Past Due Due Current Loans March 31, 2024 Commercial real estate $ 761 $ — $ — $ 761 $ 477,532 $ 478,293 Construction and land development — — — — 76,785 76,785 Residential real estate 69 — 211 280 6,652 6,932 Mortgage warehouse — — — — 212,389 212,389 Commercial 96 — 1,729 1,825 162,964 164,789 Enterprise value 999 — — 999 406,234 407,233 Digital asset — — — — 10,071 10,071 Consumer — — 2 2 86 88 Total $ 1,925 $ — $ 1,942 $ 3,867 $ 1,352,713 $ 1,356,580 December 31, 2023 Commercial real estate $ 18,226 $ — $ — $ 18,226 $ 450,702 $ 468,928 Construction and land development — — — — 77,851 77,851 Residential real estate — — 236 236 6,933 7,169 Mortgage warehouse — — — — 166,567 166,567 Commercial 5 100 1,813 1,918 174,206 176,124 Enterprise value 3,348 — — 3,348 430,285 433,633 Digital asset — — — — 12,289 12,289 Consumer 2 3 4 9 159 168 Total $ 21,581 $ 103 $ 2,053 $ 23,737 $ 1,318,992 $ 1,342,729 The following table presents the amortized cost basis of loans on non-accrual and loans past due over 89 days but still accruing as of March 31, 2024 and December 31, 2023: Non-accrual 90 Days With No or More Allowance Non-accrual Past Due (In thousands) for Credit Loss Loans and Accruing March 31, 2024 Residential real estate $ — $ 357 $ — Commercial 1,923 1,923 Digital asset — 10,071 — Consumer — 1 — Total $ 1,923 $ 12,352 $ — December 31, 2023 Residential real estate $ — $ 376 $ — Commercial 1,857 1,857 Enterprise value — 1,991 — Digital asset — 12,289 — Consumer — 4 — Total $ 1,857 $ 16,517 $ — The Company did no t recognize interest income on nonaccrual loans during the three months ended March 31, 2024 or 2023. The following tables present the amortized cost basis of collateral-dependent loans by class as of March 31, 2024 and December 31, 2023: Commercial Cryptocurrency Real Business Mining Rigs (In thousands) Estate Assets and Other (1) March 31, 2024 Commercial real estate $ 19,694 $ — $ — Commercial — 1,718 — Digital asset — — 10,071 $ 19,694 $ 1,718 $ 10,071 December 31, 2023 Commercial real estate $ 19,693 $ — $ — Commercial — 1,652 — Enterprise value — 1,991 — Digital asset — — 12,289 $ 19,693 $ 3,643 $ 12,289 (1) Other collateral includes the United States dollar value of Bitcoin held in control accounts, an interest in a joint venture partnership, as well as cash accounts held at the Bank. Occasionally, the Company modifies loans to borrowers experiencing financial difficulty by providing the following modifications: principal forgiveness, other-than-insignificant payment delays, term extensions, interest rate reductions, or a combination of modifications. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses on loans. In some cases, the Company provides multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. The following table presents the amortized cost basis of loans at March 31, 2024 and 2023 that were both experiencing financial difficulty and modified during the three months ended March 31 2024 and 2023, respectively, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented below: (Dollars in thousands) Other-Than-Insignificant Payment Delay Combination Term Extension and Other-Than-Insignificant Payment Delay Total Class of Financing Receivable Total Class of Financing Receivable March 31, 2024 Commercial real estate $ 1,785 $ 18,227 $ 20,012 4.18 % Commercial 1,816 — 1,816 1.10 Total $ 3,601 $ 18,227 $ 21,828 1.61 March 31, 2023 Enterprise value $ 3,506 $ — $ — 0.80 % Total $ 3,506 $ — $ — 0.26 The Company has not committed to lend any additional funds to a borrower experiencing financial difficulty whose loans had been modified during the three months ended March 31, 2024. At March 31, 2023 the Company had committed to lend $ 50,000 based on fund availability through a then existent line or credit to the borrower who had received a modification due to financial difficulty during the three months ended March 31, 2023. The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended: Weighted-Average Other-Than-Insignificant Payment Delay Combination Weighted-Average Term Extension and Other-Than-Insignificant Payment Delay Months Months Months March 31, 2024 Commercial real estate 5.47 6.00 6.00 Commercial 3.00 — — March 31, 2023 Enterprise value 10.00 — — The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified to borrowers experiencing financial difficulty in the twelve months preceding March 31, 2024 and 2023: 90 Days Total Total 30 - 59 60 - 89 or More Past (In thousands) Current Days Days Past Due Due March 31, 2024 Commercial real estate $ 20,012 $ — $ — $ — $ — Commercial 1,830 — — — — Enterprise value 17,587 — — — — Digital asset 10,071 — — — — Total $ 49,500 $ — $ — $ — $ — March 31, 2023 Enterprise value 3,506 — — — — Total $ 3,506 $ — $ — $ — $ — As of March 31, 2024 and 2023, there were no subsequent defaults related to loans modified within the preceding 12 months. Credit Quality Information The Company utilizes a seven grade internal loan risk rating system for commercial real estate, construction and land development, commercial, enterprise value and digital asset 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, commercial, enterprise value and digital asset 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. Based on the most recent analysis performed, the risk category of loans by class of loans and their corresponding gross write offs for the three months ended March 31, 2024 is as follows: Term Loans at Amortized Cost by Origination Year (In thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Loans Total Commercial real estate Pass $ 12,093 $ 35,249 $ 55,084 $ 106,431 $ 29,684 $ 187,511 $ 19,269 $ — $ 445,321 Special mention — — — — — 6,203 — — 6,203 Substandard — — — — 1,048 25,302 419 — 26,769 Total commercial real estate 12,093 35,249 55,084 106,431 30,732 219,016 19,688 — 478,293 Commercial real estate Current period gross write offs — — — — — — — — — Construction and land development Pass 834 4,217 51,357 17,265 — 1,425 1,687 — 76,785 Total construction and land development 834 4,217 51,357 17,265 — 1,425 1,687 — 76,785 Construction and land development Current period gross write offs — — — — — — — — — Residential real estate Pass — — — — 5 4,019 2,561 — 6,585 Substandard — — — — — 280 67 — 347 Total residential real estate — — — — 5 4,299 2,628 — 6,932 Residential real estate Current period gross write offs — — — — — — — — — Mortgage Warehouse Pass — — — — — — 212,389 — 212,389 Total mortgage warehouse — — — — — — 212,389 — 212,389 Mortgage warehouse Current period gross write offs — — — — — — — — — Commercial Pass 692 6,193 13,678 49,754 11,171 38,141 31,226 — 150,855 Special mention — — — — — 7,147 2,801 — 9,948 Substandard — — — 205 — 3,556 225 — 3,986 Total commercial 692 6,193 13,678 49,959 11,171 48,844 34,252 — 164,789 Commercial Current period gross write offs — — — — — 5 — — 5 Enterprise Value Pass 4,443 83,352 83,657 107,871 42,498 24,490 12,064 — 358,375 Special mention — — 14,813 10,547 5,880 3,555 1,961 — 36,756 Substandard — — 741 521 1,826 1,469 7,545 — 12,102 Total enterprise value 4,443 83,352 99,211 118,939 50,204 29,514 21,570 — 407,233 Enterprise value Current period gross write offs — — — — — — — — — Digital asset Substandard — — 10,071 — — — — — 10,071 Total digital asset — — 10,071 — — — — — 10,071 Digital asset Current period gross write offs — — — — — — — — — Consumer Not formally rated — — — — — 47 41 — 88 Total consumer — — — — — 47 41 — 88 Consumer Current period gross write offs 11 — — — — 7 — — 18 Total loans $ 18,062 $ 129,011 $ 229,401 $ 292,594 $ 92,112 $ 303,145 $ 292,255 $ — $ 1,356,580 Total current period gross write offs $ 11 $ — $ — $ — $ — $ 12 $ — $ — $ 23 The following table presents the risk category of loans by class of loans as of December 31, 2023 and their corresponding gross write offs for the year then ended: Term Loans at Amortized Cost by Origination Year (In thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Loans Total Commercial real estate Pass $ 35,966 $ 50,608 $ 107,593 $ 30,236 $ 59,578 $ 132,219 $ 19,617 $ — $ 435,817 Special mention — — — — 2,898 3,373 — — 6,271 Substandard — — — 1,048 4,436 21,356 — — 26,840 Total commercial real estate 35,966 50,608 107,593 31,284 66,912 156,948 19,617 — 468,928 Commercial real estate Current period gross write offs — — 1 — — — — — 1 Construction and land development Pass 3,701 54,925 17,015 — — 1,429 781 — 77,851 Total construction and land development 3,701 54,925 17,015 — — 1,429 781 — 77,851 Construction and land development Current period gross write offs — — — — — — — — — Residential real estate Pass — — — 5 179 3,183 2,579 871 6,817 Substandard — — — — — 284 68 — 352 Total residential real estate — — — 5 179 3,467 2,647 871 7,169 Residential real estate Current period gross write offs — — — — — — — — — Mortgage Warehouse Pass — — — — — — 166,567 — 166,567 Total mortgage warehouse — — — — — — 166,567 — 166,567 Mortgage warehouse Current period gross write offs — — — — — — — — — Commercial Pass 6,398 14,000 48,922 13,233 16,491 22,483 37,920 28 159,475 Special mention — — — — — 9,932 2,674 — 12,606 Substandard — — 205 — 1,815 1,798 225 — 4,043 Total commercial 6,398 14,000 49,127 13,233 18,306 34,213 40,819 28 176,124 Commercial Current period gross write offs — — — — 102 67 — — 169 Enterprise Value Pass 85,412 97,942 119,126 48,427 23,186 3,346 16,026 — 393,465 Special mention — 11,768 4,838 2,424 753 3,001 1,619 — 24,403 Substandard 1,991 790 1,464 1,870 1,595 — 8,055 — 15,765 Total enterprise value 87,403 110,500 125,428 52,721 25,534 6,347 25,700 — 433,633 Enterprise value Current period gross write offs — 3,561 — 2 — 1,225 — — 4,788 Digital asset Substandard — 12,289 — — — — — — 12,289 Total digital asset — 12,289 — — — — — — 12,289 Digital asset Current period gross write offs — — — — — — — — — Consumer Not formally rated — — — — — 121 45 2 168 Special mention — — — — — — — — — Total consumer — — — — — 121 45 2 168 Consumer Current period gross write offs 30 — — — — 15 — — 45 Total loans $ 133,468 $ 242,322 $ 299,163 $ 97,243 $ 110,931 $ 202,525 $ 256,176 $ 901 $ 1,342,729 Total current period gross write offs $ 30 $ 3,561 $ 1 $ 2 $ 102 $ 1,307 $ — $ — $ 5,003

Deposits

Deposits	3 Months Ended
	Mar. 31, 2024
Deposits [Abstract]
Deposits	(7) Deposits A summary of deposit balances, by type is as follows: At At March 31, December 31, (Dollars in thousands) 2024 2023 Noninterest-bearing: Demand $ 310,343 $ 308,769 Interest-bearing: NOW 66,019 93,812 Regular savings 258,776 231,593 Money market deposits 450,596 456,408 Certificates of deposit: Certificate accounts of $250,000 or more 34,151 24,680 Certificate accounts less than $250,000 212,193 215,960 Total interest-bearing 1,021,735 1,022,453 Total deposits $ 1,332,078 $ 1,331,222 At March 31, 2024 and December 31, 2023, the aggregate amount of brokered certificates of deposit was $ 170.0 million and $ 180.0 million, respectively. All the Company’s brokered certificates of deposit are in amounts less than $250,000 as of both periods presented.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2024
Borrowings [Abstract]
Borrowings	(8) Borrowings Advances consist of funds borrowed from the Federal Home Loan Bank (the “FHLB”). Maturities of advances from the FHLB as of March 31, 2024 are summarized as follows: (In thousands) Fiscal Year-End 2024 $ 80,100 2025 5,136 2026 138 2027 139 2028 141 Thereafter 4,009 Total $ 89,663 Borrowings from the FHLB are secured by qualified collateral, consisting primarily of certain commercial real estate loans, qualified mortgage-backed government securities and certain loans with mortgages secured by one- to four-family properties. At March 31, 2024, borrowings from the FHLB consisted of overnight advances of $ 80.0 million and advances with original maturities more than one year of $ 9.7 million. The interest rate on the overnight advance was 5.55 % at March 31, 2024. The interest rates on FHLB long-term advances ranged from 1.21 % to 1.32 %, with a weighted average interest rate of 1.28 % at March 31, 2024. At March 31, 2024, the Company had the ability to borrow $ 120.1 million from the FHLB, of which $ 89.7 million was outstanding as of that date. Borrowings from the FRB BIC program are secured by a Uniform Commercial Code financing statement on qualified collateral, consisting of certain commercial loans. There were no outstanding FRB borrowings at March 31, 2024, and as of that date the Company had the ability to borrow $ 296.5 million.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements [Abstract]
Fair Value Measurements	(9) Fair Value Measurements The Company reports certain assets at fair value in accordance with GAAP, which defines fair value and establishes a framework for measuring fair value in accordance with generally accepted accounting principles. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Basis of Fair Value Measurements  Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;  Level 2 – Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability;  Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). An asset’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Fair Values of Assets Measured on a Recurring Basis The Company’s investments in state and municipal, asset-backed and government mortgage-backed debt securities available-for-sale are generally classified within Level 2 of the fair value hierarchy. For these investments, the Company obtains fair value measurements from independent pricing services. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument’s terms and conditions. The following summarizes financial instruments measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023: Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 March 31, 2024 State and municipal $ 11,320 $ — $ 11,320 $ — Asset-backed securities 7,486 — 7,486 — Government mortgage-backed securities 9,106 — 9,106 — Totals $ 27,912 $ — $ 27,912 $ — December 31, 2023 State and municipal $ 11,400 $ — $ 11,400 $ — Asset-backed securities 7,535 — 7,535 — Government mortgage-backed securities 9,636 — 9,636 — Totals $ 28,571 $ — $ 28,571 $ — 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 loans were adjusted to fair value, less cost to sell, of the underlying collateral securing these loans resulting in losses. The loss is not recorded directly as an adjustment to current earnings, but rather as a component in determining the allowance for loan losses. Fair value was measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties. The following summarizes assets measured at fair value on a nonrecurring basis at March 31, 2024 and December 31, 2023: Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 March 31, 2024 Loans Digital asset $ 7,946 $ — $ — $ 7,946 Totals $ 7,946 $ — $ — $ 7,946 December 31, 2023 Loans Enterprise value $ 891 $ — $ — $ 891 Digital asset 6,373 — — 6,373 Totals $ 7,264 $ — $ — $ 7,264 The following is a summary of the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis at March 31, 2024 and December 31, 2023: (In thousands) Fair Value Valuation Technique Unobservable Input Range March 31, 2024 Loans Digital asset $ 7,946 Asset valuation Comparable asset evaluations 0 % - 2 % December 31, 2023 Loans Enterprise value $ 891 Business or collateral valuation Comparable company or collateral evaluations 0 % - 26 % Digital asset 6,373 Asset valuation Comparable asset evaluations 0 % - 25 % At March 31, 2024, the contractual balance of digital asset loans measured at fair value on a nonrecurring basis was $ 12.7 million, net of reserves of $ 2.1 million, interest paid to principal of $ 2.5 million, and deferred fees and costs of $ 101,000 . At December 31, 2023, the contractual balance of loans measured at fair value on a nonrecurring basis was $ 2.0 million, net of reserves of $ 1.1 million, interest paid to principal of $ 12,000 , and deferred fees and costs of $ 3,000 for the enterprise value segment and $ 14.4 million, net of reserves of $ 5.9 million, interest paid to principal of $ 2.1 million, and deferred fees and costs of $ 101,000 for the digital asset segment. Fair Values of Financial Instruments GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate that value. Certain financial instruments and all nonfinancial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying amounts and estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, are as follows at March 31, 2024 and December 31, 2023: Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total March 31, 2024 Financial assets: Cash and cash equivalents $ 190,851 $ 190,851 $ — $ — $ 190,851 Available-for-sale debt securities 27,912 — 27,912 — 27,912 Federal Home Loan Bank of Boston stock 3,605 N/A N/A N/A N/A Loans, net 1,340,574 — — 1,281,975 1,281,975 Accrued interest receivable 5,921 — 5,921 — 5,921 Financial liabilities: Deposits 1,332,078 — 1,332,191 — 1,332,191 Borrowings 89,663 — 89,705 — 89,705 December 31, 2023 Financial assets: Cash and cash equivalents $ 220,332 $ 220,332 $ — $ — $ 220,332 Available-for-sale debt securities 28,571 — 28,571 — 28,571 Federal Home Loan Bank of Boston stock 4,056 N/A N/A N/A N/A Loans, net 1,321,158 — — 1,279,421 1,279,421 Accrued interest receivable 6,090 — 6,090 — 6,090 Financial liabilities: Deposits 1,331,222 — 1,331,701 — 1,331,701 Borrowings 104,697 — 104,765 — 104,765

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2024
Regulatory Capital [Abstract]
Regulatory Capital	(10) Regulatory Capital The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The Bank is subject to capital regulations that require a Common Equity Tier 1 (“CET1”) capital ratio of 4.5 %, a minimum Tier 1 capital to risk-weighted assets ratio of 6.0 %, a minimum total capital to risk-weighted assets ratio of 8.0 % and a minimum Tier 1 leverage ratio of 4.0 %. CET1 generally consists of common stock and retained earnings, subject to applicable adjustments and deductions. In order to be considered “well capitalized,” the Bank must maintain a CET1 capital ratio of 6.5 % and a Tier 1 ratio of 8.0 %, a total risk-based capital ratio of 10 % and a Tier 1 leverage ratio of 5.0 %. As of March 31, 2024 and December 31, 2023, the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. Applicable regulations limit capital distributions and certain discretionary bonus payments to management if the institution does not hold a “capital conservation buffer” consisting of 2.5 % of common equity Tier 1 capital to risk-weighted asset above the amount necessary to meet its minimum risk-based capital requirements. At March 31, 2024, 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 federal law. As of March 31, 2024, the Bank has not opted into the CBLR framework. The Bank’s actual capital amounts and ratios at March 31, 2024 and December 31, 2023 are summarized as follows: To Be Well Capitalized Under Actual For Capital Prompt Corrective Capital Adequacy Purposes Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2024 Total Capital (to Risk Weighted Assets) $ 216,045 14.12 % $ 122,424 > 8.0 % $ 153,030 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 199,754 13.05 91,818 > 6.0 122,424 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 199,754 13.05 68,864 > 4.5 99,470 > 6.5 Tier 1 Capital (to Average Assets) 199,754 12.68 62,993 > 4.0 78,741 > 5.0 December 31, 2023 Total Capital (to Risk Weighted Assets) $ 212,992 14.02 % $ 121,525 > 8.0 % $ 151,907 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 193,968 12.77 91,144 > 6.0 121,525 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 193,968 12.77 68,358 > 4.5 98,739 > 6.5 Tier 1 Capital (to Average Assets) 193,968 11.59 66,924 > 4.0 83,655 > 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; and 2. The MHC’s ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the 2019 prospectus plus the MHC’s net assets (excluding its ownership of the Company). The Company and the Bank are not permitted to pay dividends on their capital stock if the shareholders’ equity of the Company, or the shareholder’s equity of the Bank, would be reduced below the amount of the respective liquidation accounts. The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation accounts. Other Restrictions The Company’s principal source of funds for dividend payments is dividends received from the Bank. Federal and state banking regulations restrict the amount of dividends that may be paid in a year, without prior approval of regulatory agencies, to the 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 three months ended March 31, 2024, the Bank reported net income of $ 4.9 million. For the years ended December 31, 2023 and 2022, the Bank reported net income of $ 10.7 million and a net loss of $ 21.5 million, respectively. There were no dividends paid during the three months ended March 31, 2024. 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. As of March 31, 2024, the Company had repurchased 1,145,479 shares of its outstanding common stock under this program, however, the Company did no t repurchase any shares of its outstanding common stock under this program during the three months ended March 31, 2024 and the year ended December 31, 2023.

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Mar. 31, 2024
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan	(11) Employee Stock Ownership Plan The Bank established an employee stock ownership plan (the “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 5.00 %. 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: March 31, 2024 December 31, 2023 Allocated 641,288 551,530 Committed to be allocated 22,439 89,758 Unallocated 875,141 897,580 Total 1,538,868 1,538,868 The fair value of unallocated shares was approximately $ 8.0 million at March 31, 2024. Total compensation expense recognized in connection with the ESOP for the three months ended March 31, 2024 and 2023 was $ 225,000 and $ 187,000 , respectively.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Common Share [Abstract]
Earnings Per Common Share	(12) Earnings Per Common Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares (computed using the treasury method) that would have been outstanding if all potentially dilutive common stock equivalents were issued during the period. Unallocated ESOP shares, treasury stock and unvested restricted stock is not deemed outstanding for earnings per share calculations. Three Months Ended (Dollars in thousands, except per share March 31, March 31, dollar amounts) 2024 2023 Net Income attributable to common shareholders $ 4,981 $ 2,103 Average number of common shares issued 17,665,391 17,686,055 Less: Average unallocated ESOP shares ( 882,623 ) ( 972,380 ) Average unvested restricted stock ( 113,317 ) ( 183,048 ) Average number of common shares outstanding to calculate basic earnings per common share 16,669,451 16,530,627 Effect of dilutive unvested restricted stock and stock option awards 51,202 639 Average number of common shares outstanding to calculate diluted earnings per common share 16,720,653 16,531,266 Earnings per common share: Basic $ 0.30 $ 0.13 Diluted $ 0.30 $ 0.13 Stock options for 844,887 and 1,486,071 shares of common stock were not considered in computing diluted earnings per common share for the three months ended March 31, 2024 and 2023, 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	3 Months Ended
	Mar. 31, 2024
Share-Based Compensation [Abstract]
Share-Based Compensation	(13) Share-Based Compensation The Company maintains the Provident Bancorp, Inc. 2020 Equity Incentive Plan (the “2020 Equity Plan”) and the Provident Bancorp, Inc. 2016 Equity Incentive Plan (the “2016 Equity Plan”, and 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 three to five years . The Company has elected to recognize forfeitures of awards as they occur. 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. There were no options granted during the three months ended March 31, 2024. A summary of the status of the Company’s stock option grants for the three months ended March 31, 2024 is presented below: Stock Option Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2023 1,188,763 $ 10.99 Granted — — Forfeited ( 40,850 ) 11.93 Expired — — Exercised — — Outstanding at March 31, 2024 1,147,913 $ 10.96 5.18 $ 157,000 Outstanding and expected to vest at March 31, 2024 1,147,913 $ 10.96 5.18 $ 157,000 Vested and Exercisable at March 31, 2024 773,911 $ 10.53 3.95 $ 157,000 Unrecognized compensation cost $ 1,322,000 Weighted average remaining recognition period (years) 2.80 For the three months ended March 31, 2024 and 2023, expense for the stock options was $ 130,000 and $ 155,000 , respectively. There were no options exercised during the three months ended March 31, 2024. The intrinsic value of and tax benefit from options exercised was $ 97,000 and $ 27,000 , respectively, for the three months ended March 31, 2023. Restricted Stock Shares issued upon the granting of restricted stock may be either from 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 three months ended March 31, 2024: Weighted Number of Average Shares Grant Price Unvested restricted stock awards at December 31, 2023 145,921 $ 12.37 Granted — — Forfeited ( 16,340 ) 11.93 Vested ( 7,945 ) 11.57 Unvested restricted stock awards at March 31, 2024 121,636 $ 12.48 Unrecognized compensation cost $ 1,253,000 Weighted average remaining recognition period (years) 2.59 For the three months ended March 31, 2024 and 2023, expense for the restricted stock awards was $ 131,000 and $ 164,000 , respectively. The tax benefit from restricted awards was $ 40,000 and $ 51,000 for the three months ended March 31, 2024 and 2023, respectively. The total fair value of shares vested during the three months ended March 31, 2024 and 2023 was $ 84,000 and $ 44,000 , respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	(14) Leases The Company recognized right-of-use (“ROU”) assets totaling $ 3.7 million at March 31, 2024 and $ 3.8 million at December 31, 2023, and operating lease liabilities totaling $ 4.1 million and $ 4.2 million at March 31, 2023 and December 31, 2023, 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 and are expensed as incurred. For the three months ended March 31, 2024 and 2023, rent expense for the operating leases totaled $ 79,000 . The following table presents information regarding the Company’s operating leases: March 31, December 31, 2024 2023 Weighted-average discount rate 3.63 % 3.62 % Range of lease expiration dates 0 - 12 years 1 - 12 years Range of lease renewal options 0 - 20 years 0 - 20 years Weighted-average remaining lease term 25.7 years 25.8 years The following table presents the undiscounted annual lease payments under the terms of the Company’s operating leases at March 31, 2024 and December 31, 2023, including a reconciliation to the present value of operating lease liabilities recognized in the Consolidated Balance Sheets: (In thousands) March 31, 2024 December 31, 2023 2024 $ 203 $ 270 2025 280 280 2026 291 291 2027 293 293 2028 208 208 Years thereafter 5,533 5,533 Total lease payments 6,808 6,875 Less imputed interest ( 2,666 ) ( 2,704 ) Total lease liabilities $ 4,142 $ 4,171 The lease liabilities recognized include certain lease extensions as it is expected that the Company will use substantially all lease renewal options.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue Recognition [Abstract]
Revenue Recognition	(15) Revenue Recognition Revenue from contracts with customers in the scope of Accounting Standards Codification (“ASC Topic 606”) is measured based on the consideration specified in the contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue from contracts with customers when it satisfies its performance obligations. The Company’s performance obligations are generally satisfied as services are rendered and can either be satisfied at a point in time or over time. Unsatisfied performance obligations at the report date are not material to our consolidated financial statements. The Company recognizes revenue that is transactional in nature and such revenue is earned at a point in time. Revenue that is recognized at a point in time includes card interchange fees (fee income related to debit card transactions), ATM fees, wire transfer fees, overdraft charge fees, and stop-payment and returned check fees. Additionally, revenue is collected from loan fees, such as letters of credit, line renewal fees and application fees. Such revenue is derived from transactional information and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer’s transaction.

Qualified Affordable Housing Pr

Qualified Affordable Housing Project Investments	3 Months Ended
	Mar. 31, 2024
Qualified Affordable Housing Project Investments [Abstract]
Qualified Affordable Housing Project Investments	(16) Qualified Affordable Housing Project Investments The Bank invests in qualified affordable housing projects. At March 31, 2024 and December 31, 2023, the balance of the investment for qualified affordable housing projects was $ 5.9 million and $ 6.1 million, respectively. These balances are reflected in the other assets line on the Consolidated Balance Sheets. Under the proportional amortization method, the Company recognized amortization expense of $ 178,000 and tax credits of $ 218,000 for the three months ended March 31, 2024. For the three months ended March 31, 2023, the Company recognized amortization expense of $ 1.2 million and tax credits of $ 1.5 million.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	(17) Subsequent Events Digital Asset Loans At March 31, 2024, the Bank held $ 10.1 million in digital asset loans, consisting of one relationship whose carrying value, net of a $ 2.1 million specific reserve for credit losses, was $ 8.0 million. On April 4, 2024, the Bank executed a settlement to exit this relationship, resulting in the Bank charging off the $ 2.1 million reserve and eliminating the Bank’s digital asset loan segment. The proposed amounts, and expected charge off, were largely determinable as of quarter end, though uncertainty remained regarding the transaction.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2024
Basis of Presentation [Abstract]
Basis of Accounting	The accompanying unaudited financial statements of Provident Bancorp, Inc. (the “Company”) were prepared in accordance with the instructions for Form 10-Q and with Regulation S-X and do not include information or footnotes necessary for a complete presentation of the financial condition, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, in the opinion of management, all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three-month period ended March 31, 2024 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. 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 28, 2024. 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, and 5 Market Street Security Corporation. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policy)	3 Months Ended
	Mar. 31, 2024
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures (“ASU 2023-09”) , to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires annual disclosure of specific categories in the rate reconciliation table and separate disclosure for reconciling items that exceed a quantitative threshold. ASU 2023-09 also requires annual disclosure of the amount of income taxes paid disaggregated by federal, state, and foreign taxes, and separately, the amount of income taxes paid disaggregated by individual taxing jurisdictions in which income taxes paid exceed a quantitative threshold. ASU 2023-09 is effective for the Company for fiscal years beginning after December 15, 2024 with early adoption permitted. The Company

Revenue Recognition (Policy)

Revenue Recognition (Policy)	3 Months Ended
	Mar. 31, 2024
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.

Debt Securities (Tables)

Debt Securities (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Securities [Abstract]
Summary of Amortized Cost and Fair Value of Securities Available-for-Sale	Amortized Gross Gross Allowance Cost Unrealized Unrealized for Credit Fair (In thousands) Basis Gains Losses Losses Value March 31, 2024 State and municipal $ 11,758 $ 4 $ 442 $ — $ 11,320 Asset-backed securities 8,255 — 769 — 7,486 Government mortgage-backed securities 9,976 — 870 — 9,106 Total debt securities available-for-sale $ 29,989 $ 4 $ 2,081 $ — $ 27,912 Amortized Gross Gross Allowance Cost Unrealized Unrealized for Credit Fair (In thousands) Basis Gains Losses Losses Value December 31, 2023 State and municipal $ 11,785 $ 14 $ 399 $ — $ 11,400 Asset-backed securities 8,319 — 784 — 7,535 Government mortgage-backed securities 10,405 — 769 — 9,636 Total debt securities available-for-sale $ 30,509 $ 14 $ 1,952 $ — $ 28,571
Schedule of Maturities of Debt Securities	Available-for-Sale Amortized Fair (In thousands) Cost Value Due in one year $ 554 $ 545 Due after one year through five years 599 601 Due after five years through ten years 1,425 1,426 Due after ten years 9,180 8,748 Government mortgage-backed securities 9,976 9,106 Asset-backed securities 8,255 7,486 $ 29,989 $ 27,912
Schedule of Aggregate Fair Value and Unrealized Losses of Securities	Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses March 31, 2024 Temporarily impaired securities: State and municipal $ 1,305 $ 4 $ 7,206 $ 438 $ 8,511 $ 442 Asset-backed securities 1,775 43 5,711 726 7,486 769 Government mortgage-backed securities 1,380 10 7,726 860 9,106 870 Total temporarily impaired debt securities $ 4,460 $ 57 $ 20,643 $ 2,024 $ 25,103 $ 2,081 December 31, 2023 Temporarily impaired securities: State and municipal $ — $ — $ 7,269 $ 399 $ 7,269 $ 399 Asset-backed securities 1,802 16 5,733 768 7,535 784 Government mortgage-backed securities — — 9,574 769 9,574 769 Total temporarily impaired debt securities $ 1,802 $ 16 $ 22,576 $ 1,936 $ 24,378 $ 1,952

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses for Loans (Tables)	3 Months Ended
	Mar. 31, 2024
Loans and Allowance for Credit Losses for Loans [Abstract]
Schedule of Loans	March 31, December 31, (In thousands) 2024 2023 Commercial real estate $ 478,293 $ 468,928 Construction and land development 76,785 77,851 Residential real estate 6,932 7,169 Mortgage warehouse 212,389 166,567 Commercial 164,789 176,124 Enterprise value 407,233 433,633 Digital asset 10,071 12,289 Consumer 88 168 1,356,580 1,342,729 Allowance for credit losses on loans ( 16,006 ) ( 21,571 ) Net loans $ 1,340,574 $ 1,321,158
Schedule of Allowance for Loan Losses and Related Loan Balances by Portfolio Segment	Commercial Construction real and land Residential Mortgage Enterprise Digital (In thousands) estate development real estate warehouse Commercial value asset Consumer Total Balance at December 31, 2023 $ 4,471 $ 407 $ 75 $ 42 $ 2,493 $ 8,166 $ 5,915 $ 2 $ 21,571 Charge-offs — — — — ( 5 ) — — ( 18 ) ( 23 ) Recoveries — — — — — — — 1 1 Provision (credit) 50 ( 18 ) ( 3 ) 12 ( 210 ) ( 1,599 ) ( 3,791 ) 16 ( 5,543 ) Balance at March 31, 2024 $ 4,521 $ 389 $ 72 $ 54 $ 2,278 $ 6,567 $ 2,124 $ 1 $ 16,006 Balance at December 31, 2022 $ 5,062 $ 909 $ 43 $ 213 $ 3,582 $ 7,712 $ 10,493 $ 55 $ 28,069 Impact of adopting ASC 326 ( 745 ) ( 513 ) 18 ( 159 ) ( 711 ) ( 270 ) ( 157 ) ( 51 ) ( 2,588 ) Charge-offs — — — — ( 41 ) ( 3,560 ) — ( 16 ) ( 3,617 ) Recoveries — — — — 10 — — 3 13 Provision (credit) ( 68 ) 74 ( 4 ) ( 16 ) ( 225 ) 6,279 ( 3,117 ) 12 2,935 Balance at March 31, 2023 $ 4,249 $ 470 $ 57 $ 38 $ 2,615 $ 10,161 $ 7,219 $ 3 $ 24,812
Schedule of Loan Delinquencies by Portfolio Segment	90 Days Total 30 - 59 60 - 89 or More Past Total Total (In thousands) Days Days Past Due Due Current Loans March 31, 2024 Commercial real estate $ 761 $ — $ — $ 761 $ 477,532 $ 478,293 Construction and land development — — — — 76,785 76,785 Residential real estate 69 — 211 280 6,652 6,932 Mortgage warehouse — — — — 212,389 212,389 Commercial 96 — 1,729 1,825 162,964 164,789 Enterprise value 999 — — 999 406,234 407,233 Digital asset — — — — 10,071 10,071 Consumer — — 2 2 86 88 Total $ 1,925 $ — $ 1,942 $ 3,867 $ 1,352,713 $ 1,356,580 December 31, 2023 Commercial real estate $ 18,226 $ — $ — $ 18,226 $ 450,702 $ 468,928 Construction and land development — — — — 77,851 77,851 Residential real estate — — 236 236 6,933 7,169 Mortgage warehouse — — — — 166,567 166,567 Commercial 5 100 1,813 1,918 174,206 176,124 Enterprise value 3,348 — — 3,348 430,285 433,633 Digital asset — — — — 12,289 12,289 Consumer 2 3 4 9 159 168 Total $ 21,581 $ 103 $ 2,053 $ 23,737 $ 1,318,992 $ 1,342,729
Schedule of Non-Accrual Loans and Loan Past Due Over 89 Days But Still Accruing	Non-accrual 90 Days With No or More Allowance Non-accrual Past Due (In thousands) for Credit Loss Loans and Accruing March 31, 2024 Residential real estate $ — $ 357 $ — Commercial 1,923 1,923 Digital asset — 10,071 — Consumer — 1 — Total $ 1,923 $ 12,352 $ — December 31, 2023 Residential real estate $ — $ 376 $ — Commercial 1,857 1,857 Enterprise value — 1,991 — Digital asset — 12,289 — Consumer — 4 — Total $ 1,857 $ 16,517 $ —
Schedule of Amortized Cost Basis of Collateral Dependent Loans	Commercial Cryptocurrency Real Business Mining Rigs (In thousands) Estate Assets and Other (1) March 31, 2024 Commercial real estate $ 19,694 $ — $ — Commercial — 1,718 — Digital asset — — 10,071 $ 19,694 $ 1,718 $ 10,071 December 31, 2023 Commercial real estate $ 19,693 $ — $ — Commercial — 1,652 — Enterprise value — 1,991 — Digital asset — — 12,289 $ 19,693 $ 3,643 $ 12,289 (1) Other collateral includes the United States dollar value of Bitcoin held in control accounts, an interest in a joint venture partnership, as well as cash accounts held at the Bank.
Schedule of Loans Modifies to Borrowers in Financial Distress	The following table presents the amortized cost basis of loans at March 31, 2024 and 2023 that were both experiencing financial difficulty and modified during the three months ended March 31 2024 and 2023, respectively, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented below: (Dollars in thousands) Other-Than-Insignificant Payment Delay Combination Term Extension and Other-Than-Insignificant Payment Delay Total Class of Financing Receivable Total Class of Financing Receivable March 31, 2024 Commercial real estate $ 1,785 $ 18,227 $ 20,012 4.18 % Commercial 1,816 — 1,816 1.10 Total $ 3,601 $ 18,227 $ 21,828 1.61 March 31, 2023 Enterprise value $ 3,506 $ — $ — 0.80 % Total $ 3,506 $ — $ — 0.26 The Company has not committed to lend any additional funds to a borrower experiencing financial difficulty whose loans had been modified during the three months ended March 31, 2024. At March 31, 2023 the Company had committed to lend $ 50,000 based on fund availability through a then existent line or credit to the borrower who had received a modification due to financial difficulty during the three months ended March 31, 2023. The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended: Weighted-Average Other-Than-Insignificant Payment Delay Combination Weighted-Average Term Extension and Other-Than-Insignificant Payment Delay Months Months Months March 31, 2024 Commercial real estate 5.47 6.00 6.00 Commercial 3.00 — — March 31, 2023 Enterprise value 10.00 — — The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified to borrowers experiencing financial difficulty in the twelve months preceding March 31, 2024 and 2023: 90 Days Total Total 30 - 59 60 - 89 or More Past (In thousands) Current Days Days Past Due Due March 31, 2024 Commercial real estate $ 20,012 $ — $ — $ — $ — Commercial 1,830 — — — — Enterprise value 17,587 — — — — Digital asset 10,071 — — — — Total $ 49,500 $ — $ — $ — $ — March 31, 2023 Enterprise value 3,506 — — — — Total $ 3,506 $ — $ — $ — $ —
Schedule of Most Recent Analysis Performed, the Risk Category of Loans	Term Loans at Amortized Cost by Origination Year (In thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Loans Total Commercial real estate Pass $ 12,093 $ 35,249 $ 55,084 $ 106,431 $ 29,684 $ 187,511 $ 19,269 $ — $ 445,321 Special mention — — — — — 6,203 — — 6,203 Substandard — — — — 1,048 25,302 419 — 26,769 Total commercial real estate 12,093 35,249 55,084 106,431 30,732 219,016 19,688 — 478,293 Commercial real estate Current period gross write offs — — — — — — — — — Construction and land development Pass 834 4,217 51,357 17,265 — 1,425 1,687 — 76,785 Total construction and land development 834 4,217 51,357 17,265 — 1,425 1,687 — 76,785 Construction and land development Current period gross write offs — — — — — — — — — Residential real estate Pass — — — — 5 4,019 2,561 — 6,585 Substandard — — — — — 280 67 — 347 Total residential real estate — — — — 5 4,299 2,628 — 6,932 Residential real estate Current period gross write offs — — — — — — — — — Mortgage Warehouse Pass — — — — — — 212,389 — 212,389 Total mortgage warehouse — — — — — — 212,389 — 212,389 Mortgage warehouse Current period gross write offs — — — — — — — — — Commercial Pass 692 6,193 13,678 49,754 11,171 38,141 31,226 — 150,855 Special mention — — — — — 7,147 2,801 — 9,948 Substandard — — — 205 — 3,556 225 — 3,986 Total commercial 692 6,193 13,678 49,959 11,171 48,844 34,252 — 164,789 Commercial Current period gross write offs — — — — — 5 — — 5 Enterprise Value Pass 4,443 83,352 83,657 107,871 42,498 24,490 12,064 — 358,375 Special mention — — 14,813 10,547 5,880 3,555 1,961 — 36,756 Substandard — — 741 521 1,826 1,469 7,545 — 12,102 Total enterprise value 4,443 83,352 99,211 118,939 50,204 29,514 21,570 — 407,233 Enterprise value Current period gross write offs — — — — — — — — — Digital asset Substandard — — 10,071 — — — — — 10,071 Total digital asset — — 10,071 — — — — — 10,071 Digital asset Current period gross write offs — — — — — — — — — Consumer Not formally rated — — — — — 47 41 — 88 Total consumer — — — — — 47 41 — 88 Consumer Current period gross write offs 11 — — — — 7 — — 18 Total loans $ 18,062 $ 129,011 $ 229,401 $ 292,594 $ 92,112 $ 303,145 $ 292,255 $ — $ 1,356,580 Total current period gross write offs $ 11 $ — $ — $ — $ — $ 12 $ — $ — $ 23 The following table presents the risk category of loans by class of loans as of December 31, 2023 and their corresponding gross write offs for the year then ended: Term Loans at Amortized Cost by Origination Year (In thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Revolving Loans Converted to Term Loans Total Commercial real estate Pass $ 35,966 $ 50,608 $ 107,593 $ 30,236 $ 59,578 $ 132,219 $ 19,617 $ — $ 435,817 Special mention — — — — 2,898 3,373 — — 6,271 Substandard — — — 1,048 4,436 21,356 — — 26,840 Total commercial real estate 35,966 50,608 107,593 31,284 66,912 156,948 19,617 — 468,928 Commercial real estate Current period gross write offs — — 1 — — — — — 1 Construction and land development Pass 3,701 54,925 17,015 — — 1,429 781 — 77,851 Total construction and land development 3,701 54,925 17,015 — — 1,429 781 — 77,851 Construction and land development Current period gross write offs — — — — — — — — — Residential real estate Pass — — — 5 179 3,183 2,579 871 6,817 Substandard — — — — — 284 68 — 352 Total residential real estate — — — 5 179 3,467 2,647 871 7,169 Residential real estate Current period gross write offs — — — — — — — — — Mortgage Warehouse Pass — — — — — — 166,567 — 166,567 Total mortgage warehouse — — — — — — 166,567 — 166,567 Mortgage warehouse Current period gross write offs — — — — — — — — — Commercial Pass 6,398 14,000 48,922 13,233 16,491 22,483 37,920 28 159,475 Special mention — — — — — 9,932 2,674 — 12,606 Substandard — — 205 — 1,815 1,798 225 — 4,043 Total commercial 6,398 14,000 49,127 13,233 18,306 34,213 40,819 28 176,124 Commercial Current period gross write offs — — — — 102 67 — — 169 Enterprise Value Pass 85,412 97,942 119,126 48,427 23,186 3,346 16,026 — 393,465 Special mention — 11,768 4,838 2,424 753 3,001 1,619 — 24,403 Substandard 1,991 790 1,464 1,870 1,595 — 8,055 — 15,765 Total enterprise value 87,403 110,500 125,428 52,721 25,534 6,347 25,700 — 433,633 Enterprise value Current period gross write offs — 3,561 — 2 — 1,225 — — 4,788 Digital asset Substandard — 12,289 — — — — — — 12,289 Total digital asset — 12,289 — — — — — — 12,289 Digital asset Current period gross write offs — — — — — — — — — Consumer Not formally rated — — — — — 121 45 2 168 Special mention — — — — — — — — — Total consumer — — — — — 121 45 2 168 Consumer Current period gross write offs 30 — — — — 15 — — 45 Total loans $ 133,468 $ 242,322 $ 299,163 $ 97,243 $ 110,931 $ 202,525 $ 256,176 $ 901 $ 1,342,729 Total current period gross write offs $ 30 $ 3,561 $ 1 $ 2 $ 102 $ 1,307 $ — $ — $ 5,003

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2024
Deposits [Abstract]
Schedule of Deposit Balances by Type	At At March 31, December 31, (Dollars in thousands) 2024 2023 Noninterest-bearing: Demand $ 310,343 $ 308,769 Interest-bearing: NOW 66,019 93,812 Regular savings 258,776 231,593 Money market deposits 450,596 456,408 Certificates of deposit: Certificate accounts of $250,000 or more 34,151 24,680 Certificate accounts less than $250,000 212,193 215,960 Total interest-bearing 1,021,735 1,022,453 Total deposits $ 1,332,078 $ 1,331,222

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2024
Borrowings [Abstract]
Schedule of Maturities of Advances from FHLB	(In thousands) Fiscal Year-End 2024 $ 80,100 2025 5,136 2026 138 2027 139 2028 141 Thereafter 4,009 Total $ 89,663

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements [Abstract]
Schedule of Assets Measured at Fair Value on a Recurring Basis	Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 March 31, 2024 State and municipal $ 11,320 $ — $ 11,320 $ — Asset-backed securities 7,486 — 7,486 — Government mortgage-backed securities 9,106 — 9,106 — Totals $ 27,912 $ — $ 27,912 $ — December 31, 2023 State and municipal $ 11,400 $ — $ 11,400 $ — Asset-backed securities 7,535 — 7,535 — Government mortgage-backed securities 9,636 — 9,636 — Totals $ 28,571 $ — $ 28,571 $ —
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis	Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total Level 1 Level 2 Level 3 March 31, 2024 Loans Digital asset $ 7,946 $ — $ — $ 7,946 Totals $ 7,946 $ — $ — $ 7,946 December 31, 2023 Loans Enterprise value $ 891 $ — $ — $ 891 Digital asset 6,373 — — 6,373 Totals $ 7,264 $ — $ — $ 7,264
Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis	(In thousands) Fair Value Valuation Technique Unobservable Input Range March 31, 2024 Loans Digital asset $ 7,946 Asset valuation Comparable asset evaluations 0 % - 2 % December 31, 2023 Loans Enterprise value $ 891 Business or collateral valuation Comparable company or collateral evaluations 0 % - 26 % Digital asset 6,373 Asset valuation Comparable asset evaluations 0 % - 25 %
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading	Carrying Fair Value (In thousands) Amount Level 1 Level 2 Level 3 Total March 31, 2024 Financial assets: Cash and cash equivalents $ 190,851 $ 190,851 $ — $ — $ 190,851 Available-for-sale debt securities 27,912 — 27,912 — 27,912 Federal Home Loan Bank of Boston stock 3,605 N/A N/A N/A N/A Loans, net 1,340,574 — — 1,281,975 1,281,975 Accrued interest receivable 5,921 — 5,921 — 5,921 Financial liabilities: Deposits 1,332,078 — 1,332,191 — 1,332,191 Borrowings 89,663 — 89,705 — 89,705 December 31, 2023 Financial assets: Cash and cash equivalents $ 220,332 $ 220,332 $ — $ — $ 220,332 Available-for-sale debt securities 28,571 — 28,571 — 28,571 Federal Home Loan Bank of Boston stock 4,056 N/A N/A N/A N/A Loans, net 1,321,158 — — 1,279,421 1,279,421 Accrued interest receivable 6,090 — 6,090 — 6,090 Financial liabilities: Deposits 1,331,222 — 1,331,701 — 1,331,701 Borrowings 104,697 — 104,765 — 104,765

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2024
Regulatory Capital [Abstract]
Schedule of Bank's Actual Capital Amounts and Ratios	To Be Well Capitalized Under Actual For Capital Prompt Corrective Capital Adequacy Purposes Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2024 Total Capital (to Risk Weighted Assets) $ 216,045 14.12 % $ 122,424 > 8.0 % $ 153,030 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 199,754 13.05 91,818 > 6.0 122,424 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 199,754 13.05 68,864 > 4.5 99,470 > 6.5 Tier 1 Capital (to Average Assets) 199,754 12.68 62,993 > 4.0 78,741 > 5.0 December 31, 2023 Total Capital (to Risk Weighted Assets) $ 212,992 14.02 % $ 121,525 > 8.0 % $ 151,907 > 10.0 % Tier 1 Capital (to Risk Weighted Assets) 193,968 12.77 91,144 > 6.0 121,525 > 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 193,968 12.77 68,358 > 4.5 98,739 > 6.5 Tier 1 Capital (to Average Assets) 193,968 11.59 66,924 > 4.0 83,655 > 5.0

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Tables)	3 Months Ended
	Mar. 31, 2024
Employee Stock Ownership Plan [Abstract]
Schedule of Shares Held by the ESOP	March 31, 2024 December 31, 2023 Allocated 641,288 551,530 Committed to be allocated 22,439 89,758 Unallocated 875,141 897,580 Total 1,538,868 1,538,868

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Common Share [Abstract]
Schedule of Earnings Per Share	Three Months Ended (Dollars in thousands, except per share March 31, March 31, dollar amounts) 2024 2023 Net Income attributable to common shareholders $ 4,981 $ 2,103 Average number of common shares issued 17,665,391 17,686,055 Less: Average unallocated ESOP shares ( 882,623 ) ( 972,380 ) Average unvested restricted stock ( 113,317 ) ( 183,048 ) Average number of common shares outstanding to calculate basic earnings per common share 16,669,451 16,530,627 Effect of dilutive unvested restricted stock and stock option awards 51,202 639 Average number of common shares outstanding to calculate diluted earnings per common share 16,720,653 16,531,266 Earnings per common share: Basic $ 0.30 $ 0.13 Diluted $ 0.30 $ 0.13

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Compensation [Abstract]
Schedule of Stock Option Grants Activity	Stock Option Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2023 1,188,763 $ 10.99 Granted — — Forfeited ( 40,850 ) 11.93 Expired — — Exercised — — Outstanding at March 31, 2024 1,147,913 $ 10.96 5.18 $ 157,000 Outstanding and expected to vest at March 31, 2024 1,147,913 $ 10.96 5.18 $ 157,000 Vested and Exercisable at March 31, 2024 773,911 $ 10.53 3.95 $ 157,000 Unrecognized compensation cost $ 1,322,000 Weighted average remaining recognition period (years) 2.80
Schedule of Activity in Restricted Stock Awards Under the Equity Plan	Weighted Number of Average Shares Grant Price Unvested restricted stock awards at December 31, 2023 145,921 $ 12.37 Granted — — Forfeited ( 16,340 ) 11.93 Vested ( 7,945 ) 11.57 Unvested restricted stock awards at March 31, 2024 121,636 $ 12.48 Unrecognized compensation cost $ 1,253,000 Weighted average remaining recognition period (years) 2.59

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Information Regarding Operating Leases	March 31, December 31, 2024 2023 Weighted-average discount rate 3.63 % 3.62 % Range of lease expiration dates 0 - 12 years 1 - 12 years Range of lease renewal options 0 - 20 years 0 - 20 years Weighted-average remaining lease term 25.7 years 25.8 years
Schedule of Maturities of Lease Liabilities	(In thousands) March 31, 2024 December 31, 2023 2024 $ 203 $ 270 2025 280 280 2026 291 291 2027 293 293 2028 208 208 Years thereafter 5,533 5,533 Total lease payments 6,808 6,875 Less imputed interest ( 2,666 ) ( 2,704 ) Total lease liabilities $ 4,142 $ 4,171

Risks and Uncertainties (Narrat

Risks and Uncertainties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Additional borrowing capacity of Federal Home Loan Bank of Boston and the Federal Reserve Bank of Boston	$ 416,600
Outstanding borrowing capacity of Federal Home Loan Bank of Boston and the Federal Reserve Bank of Boston	$ 89,700
Securities Portfolio, Percent Of Total Assets	1.70%
Accumulated other comprehensive loss	$ 1,602	$ 1,496
Accumulated other comprehensive loss, percent	0.70%

Debt Securities (Narrative) (De

Debt Securities (Narrative) (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) item	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
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	7,700,000		$ 8,100,000
Investments in available-for-sale securities (at fair value)	27,912,000		28,571,000
Interest Receivable	5,921,000		6,090,000
Nonperforming Financial Instruments [Member]
Debt Securities, Available-for-sale [Line Items]
Investments in available-for-sale securities (at fair value)	0	$ 0
Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Interest Receivable	$ 168,000
State And Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Securities in portfolio | item	19
Securities in portfolio, unrealized loss position | item	13
Percent of amortized cost	4.90%
Investments in available-for-sale securities (at fair value)	$ 11,320,000		11,400,000
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Percent of amortized cost	9.30%
Investments in available-for-sale securities (at fair value)	$ 7,486,000		7,535,000
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Securities in portfolio, unrealized loss position | item	29
Percent of amortized cost	8.70%
Investments in available-for-sale securities (at fair value)	$ 9,106,000		$ 9,636,000

Debt Securities (Summary of Amo

Debt Securities (Summary of Amortized Cost and Fair Value of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 29,989	$ 30,509
Gross Unrealized Gains	4	14
Gross Unrealized Losses	2,081	1,952
Debt securities available-for-sale (at fair value)	27,912	28,571
State And Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	11,758	11,785
Gross Unrealized Gains	4	14
Gross Unrealized Losses	442	399
Debt securities available-for-sale (at fair value)	11,320	11,400
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	8,255	8,319
Gross Unrealized Losses	769	784
Debt securities available-for-sale (at fair value)	7,486	7,535
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	9,976	10,405
Gross Unrealized Losses	870	769
Debt securities available-for-sale (at fair value)	$ 9,106	$ 9,636

Debt Securities (Schedule of Ma

Debt Securities (Schedule of Maturities of Debt Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-Sale, Amortized Cost
Due in one year	$ 554
Due after one year through five years	599
Due after five years through ten years	1,425
Due after ten years	9,180
Amortized Cost Basis	29,989	$ 30,509
Available-for-Sale, Fair Value
Due in one year	545
Due after one year through five years	601
Due after five years through ten years	1,426
Due after ten years	8,748
Debt securities available-for-sale (at fair value)	27,912	28,571
Government Mortgage-Backed Securities [Member]
Available-for-Sale, Amortized Cost
Amortized Cost Basis	9,976	10,405
Available-for-Sale, Fair Value
Debt securities available-for-sale (at fair value)	9,106	9,636
Asset-Backed Securities [Member]
Available-for-Sale, Amortized Cost
Amortized Cost Basis	8,255	8,319
Available-for-Sale, Fair Value
Debt securities available-for-sale (at fair value)	$ 7,486	$ 7,535

Debt Securities (Schedule of Ag

Debt Securities (Schedule of Aggregate Fair Value and Unrealized Losses of Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 4,460	$ 1,802
Unrealized Losses, Less than 12 Months	57	16
Fair Value, 12 Months or Longer	20,643	22,576
Unrealized Losses, 12 Months or Longer	2,024	1,936
Fair Value, Total	25,103	24,378
Unrealized Losses, Total	2,081	1,952
State And Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	1,305
Unrealized Losses, Less than 12 Months	4
Fair Value, 12 Months or Longer	7,206	7,269
Unrealized Losses, 12 Months or Longer	438	399
Fair Value, Total	8,511	7,269
Unrealized Losses, Total	442	399
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	1,775	1,802
Unrealized Losses, Less than 12 Months	43	16
Fair Value, 12 Months or Longer	5,711	5,733
Unrealized Losses, 12 Months or Longer	726	768
Fair Value, Total	7,486	7,535
Unrealized Losses, Total	769	784
Government Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	1,380
Unrealized Losses, Less than 12 Months	10
Fair Value, 12 Months or Longer	7,726	9,574
Unrealized Losses, 12 Months or Longer	860	769
Fair Value, Total	9,106	9,574
Unrealized Losses, Total	$ 870	$ 769

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses for Loans (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Commitments to lend additional funds	$ 50,000
Interest income on nonaccrual loans	0	$ 0
Accrued interest receivable	5,921,000		$ 6,090,000
Loans, Excluded From Estimate Of Credit Losses [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Accrued interest receivable	$ 5,800,000		$ 5,900,000

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses for Loans (Schedule of Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	$ 1,356,580	$ 1,342,729
Allowance for credit losses - loans	(16,006)	(21,571)	$ (24,812)	$ (28,069)
Net loans	1,340,574	1,321,158
Commercial Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	478,293	468,928
Allowance for credit losses - loans	(4,521)	(4,471)	(4,249)	(5,062)
Construction And Land Development [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	76,785	77,851
Allowance for credit losses - loans	(389)	(407)	(470)	(909)
Residential Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	6,932	7,169
Allowance for credit losses - loans	(72)	(75)	(57)	(43)
Mortgage Warehouse [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	212,389	166,567
Allowance for credit losses - loans	(54)	(42)	(38)	(213)
Commercial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	164,789	176,124
Allowance for credit losses - loans	(2,278)	(2,493)	(2,615)	(3,582)
Enterprise Value [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	407,233	433,633
Allowance for credit losses - loans	(6,567)	(8,166)	(10,161)	(7,712)
Digital Asset [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	10,071	12,289
Allowance for credit losses - loans	(2,124)	(5,915)	(7,219)	(10,493)
Net loans	8,000
Consumer [Member]
Loans and Leases Receivable Disclosure [Line Items]
Gross loans	88	168
Allowance for credit losses - loans	$ (1)	$ (2)	$ (3)	$ (55)

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses for Loans (Schedule of Allowance for Loan Losses and Related Loan Balances by Portfolio Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	$ 21,571	$ 28,069	$ 28,069
Charge-offs	(23)	(3,617)	(5,003)
Recoveries	1	13
Provision (credit)	(5,543)	2,935
Financing Receivable, Allowance for Credit Loss, Ending Balance	16,006	24,812	21,571
Commercial Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	4,471	5,062	5,062
Charge-offs			(1)
Provision (credit)	50	(68)
Financing Receivable, Allowance for Credit Loss, Ending Balance	4,521	4,249	4,471
Construction And Land Development [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	407	909	909
Provision (credit)	(18)	74
Financing Receivable, Allowance for Credit Loss, Ending Balance	389	470	407
Residential Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	75	43	43
Provision (credit)	(3)	(4)
Financing Receivable, Allowance for Credit Loss, Ending Balance	72	57	75
Mortgage Warehouse [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	42	213	213
Provision (credit)	12	(16)
Financing Receivable, Allowance for Credit Loss, Ending Balance	54	38	42
Commercial [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	2,493	3,582	3,582
Charge-offs	(5)	(41)	(169)
Recoveries		10
Provision (credit)	(210)	(225)
Financing Receivable, Allowance for Credit Loss, Ending Balance	2,278	2,615	2,493
Enterprise Value [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	8,166	7,712	7,712
Charge-offs		(3,560)	(4,788)
Provision (credit)	(1,599)	6,279
Financing Receivable, Allowance for Credit Loss, Ending Balance	6,567	10,161	8,166
Digital Asset [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	5,915	10,493	10,493
Provision (credit)	(3,791)	(3,117)
Financing Receivable, Allowance for Credit Loss, Ending Balance	2,124	7,219	5,915
Consumer [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	2	55	55
Charge-offs	(18)	(16)	(45)
Recoveries	1	3
Provision (credit)	16	12
Financing Receivable, Allowance for Credit Loss, Ending Balance	$ 1	3	2
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(2,588)	(2,588)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(745)	(745)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Construction And Land Development [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(513)	(513)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Residential Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		18	18
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Mortgage Warehouse [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(159)	(159)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(711)	(711)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Enterprise Value [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(270)	(270)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Digital Asset [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		(157)	(157)
Revision of Prior Period, Accounting Standards Update, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		$ (51)	$ (51)

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses for Loans (Schedule of Loan Delinquencies by Portfolio Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 1,356,580	$ 1,342,729
30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,925	21,581
60 - 89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total		103
90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,942	2,053
Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	3,867	23,737
Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,352,713	1,318,992
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	478,293	468,928
Commercial Real Estate [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	761	18,226
Commercial Real Estate [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	761	18,226
Commercial Real Estate [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	477,532	450,702
Construction And Land Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	76,785	77,851
Construction And Land Development [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	76,785	77,851
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	6,932	7,169
Residential Real Estate [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	69
Residential Real Estate [Member] | 90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	211	236
Residential Real Estate [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	280	236
Residential Real Estate [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	6,652	6,933
Mortgage Warehouse [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	212,389	166,567
Mortgage Warehouse [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	212,389	166,567
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	164,789	176,124
Commercial [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	96	5
Commercial [Member] | 60 - 89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total		100
Commercial [Member] | 90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,729	1,813
Commercial [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,825	1,918
Commercial [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	162,964	174,206
Enterprise Value [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	407,233	433,633
Enterprise Value [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	999	3,348
Enterprise Value [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	999	3,348
Enterprise Value [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	406,234	430,285
Digital Asset [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	10,071	12,289
Digital Asset [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	10,071	12,289
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	88	168
Consumer [Member] | 30 - 59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total		2
Consumer [Member] | 60 - 89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total		3
Consumer [Member] | 90 Days Or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	2	4
Consumer [Member] | Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	2	9
Consumer [Member] | Total Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 86	$ 159

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses for Loans (Schedule of Non-Accrual Loans and Loan Past Due Over 89 Days But Still Accruing) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual With No Allowance For Credit Loss	$ 1,923	$ 1,857
Nonaccrual Loans	12,352	16,517
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans		376
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual With No Allowance For Credit Loss	1,923	1,857
Nonaccrual Loans	1,923	1,857
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans	357
Enterprise Value [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans		1,991
Digital Asset [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans	10,071	12,289
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Nonaccrual Loans	$ 1	$ 4

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses for Loans (Schedule of Amortized Cost Basis of Collateral Dependent Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 1,340,574	$ 1,321,158
Total	1,356,580	1,342,729
Commercial Real Estate, Collateral [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	19,694	19,693
Business Assets [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,718	3,643
Cryptocurrency Mining Rigs And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	10,071	12,289
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	478,293	468,928
Commercial Real Estate [Member] | Commercial Real Estate, Collateral [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	19,694	19,693
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	164,789	176,124
Commercial [Member] | Business Assets [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,718	1,652
Enterprise Value [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	407,233	433,633
Enterprise Value [Member] | Business Assets [Member]
Financing Receivable, Recorded Investment [Line Items]
Total		1,991
Digital Asset [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,000
Total	10,071	12,289
Digital Asset [Member] | Cryptocurrency Mining Rigs And Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	$ 10,071	$ 12,289

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses for Loans (Schedule of Loans Modifies to Borrowers in Financial Distress) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 21,828
Total Class of Financing Receivable	1.61%	0.26%
Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 3,601	$ 3,506
Combination Term Extension And Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	18,227
Commercial Real Estate [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 20,012
Total Class of Financing Receivable	4.18%
Commercial Real Estate [Member] | Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 1,785
Commercial Real Estate [Member] | Combination Term Extension And Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	18,227
Commercial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 1,816
Total Class of Financing Receivable	1.10%
Commercial [Member] | Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 1,816
Enterprise Value [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Class of Financing Receivable		0.80%
Enterprise Value [Member] | Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total		$ 3,506

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses for Loans (Schedule of Financial Effect of Loan Modifications) (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Commercial Real Estate [Member] | Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Term	5 months 14 days
Commercial Real Estate [Member] | Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Term	6 months
Commercial Real Estate [Member] | Interest Rate Reduction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Term	6 months
Commercial [Member] | Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Term	3 months
Enterprise Value [Member] | Other-Than-Insignificant Payment Delay [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Term		10 months

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses for Loans (Schedule of Loans that have Modified to Borrowers Experiencing Financial Difficulty) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Recorded Investment [Line Items]
Total	$ 21,828
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	20,012
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,816
Total Current [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	49,500	$ 3,506
Total Current [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	20,012
Total Current [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,830
Total Current [Member] | Enterprise Value [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	17,587	$ 3,506
Total Current [Member] | Digital Asset [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	$ 10,071

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses for Loans (Schedule of Most Recent Analysis Performed, the Risk Category of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	$ 18,062		$ 133,468
Fiscal Year Before Current Fiscal Year	129,011		242,322
Two Years Before Current Fiscal Year	229,401		299,163
Three Years Before Current Fiscal Year	292,594		97,243
Four Years Before Current Fiscal Year	92,112		110,931
Prior	303,145		202,525
Revolving Loans Amortized Cost	292,255		256,176
Revolving Loans Converted to Term Loans			901
Total	1,356,580		1,342,729
Current Fiscal Year	11		30
Fiscal Year Before Current Fiscal Year			3,561
Two Years Before Current Fiscal Year			1
Three Years Before Current Fiscal Year			2
Four Years Before Current Fiscal Year			102
Prior	12		1,307
Financing Receivable, Allowance for Credit Loss, Writeoff	23	$ 3,617	5,003
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	12,093		35,966
Fiscal Year Before Current Fiscal Year	35,249		50,608
Two Years Before Current Fiscal Year	55,084		107,593
Three Years Before Current Fiscal Year	106,431		31,284
Four Years Before Current Fiscal Year	30,732		66,912
Prior	219,016		156,948
Revolving Loans Amortized Cost	19,688		19,617
Total	478,293		468,928
Two Years Before Current Fiscal Year			1
Financing Receivable, Allowance for Credit Loss, Writeoff			1
Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	12,093		35,966
Fiscal Year Before Current Fiscal Year	35,249		50,608
Two Years Before Current Fiscal Year	55,084		107,593
Three Years Before Current Fiscal Year	106,431		30,236
Four Years Before Current Fiscal Year	29,684		59,578
Prior	187,511		132,219
Revolving Loans Amortized Cost	19,269		19,617
Total	445,321		435,817
Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Four Years Before Current Fiscal Year			2,898
Prior	6,203		3,373
Total	6,203		6,271
Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Three Years Before Current Fiscal Year			1,048
Four Years Before Current Fiscal Year	1,048		4,436
Prior	25,302		21,356
Revolving Loans Amortized Cost	419
Total	26,769		26,840
Construction And Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	834		3,701
Fiscal Year Before Current Fiscal Year	4,217		54,925
Two Years Before Current Fiscal Year	51,357		17,015
Three Years Before Current Fiscal Year	17,265
Prior	1,425		1,429
Revolving Loans Amortized Cost	1,687		781
Total	76,785		77,851
Construction And Land Development [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	834		3,701
Fiscal Year Before Current Fiscal Year	4,217		54,925
Two Years Before Current Fiscal Year	51,357		17,015
Three Years Before Current Fiscal Year	17,265
Prior	1,425		1,429
Revolving Loans Amortized Cost	1,687		781
Total	76,785		77,851
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Three Years Before Current Fiscal Year			5
Four Years Before Current Fiscal Year	5		179
Prior	4,299		3,467
Revolving Loans Amortized Cost	2,628		2,647
Revolving Loans Converted to Term Loans			871
Total	6,932		7,169
Residential Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Three Years Before Current Fiscal Year			5
Four Years Before Current Fiscal Year	5		179
Prior	4,019		3,183
Revolving Loans Amortized Cost	2,561		2,579
Revolving Loans Converted to Term Loans			871
Total	6,585		6,817
Residential Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Prior	280		284
Revolving Loans Amortized Cost	67		68
Total	347		352
Mortgage Warehouse [Member]
Financing Receivable, Recorded Investment [Line Items]
Revolving Loans Amortized Cost	212,389		166,567
Total	212,389		166,567
Mortgage Warehouse [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Revolving Loans Amortized Cost	212,389		166,567
Total	212,389		166,567
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	692		6,398
Fiscal Year Before Current Fiscal Year	6,193		14,000
Two Years Before Current Fiscal Year	13,678		49,127
Three Years Before Current Fiscal Year	49,959		13,233
Four Years Before Current Fiscal Year	11,171		18,306
Prior	48,844		34,213
Revolving Loans Amortized Cost	34,252		40,819
Revolving Loans Converted to Term Loans			28
Total	164,789		176,124
Four Years Before Current Fiscal Year			102
Prior	5		67
Financing Receivable, Allowance for Credit Loss, Writeoff	5	41	169
Commercial [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	692		6,398
Fiscal Year Before Current Fiscal Year	6,193		14,000
Two Years Before Current Fiscal Year	13,678		48,922
Three Years Before Current Fiscal Year	49,754		13,233
Four Years Before Current Fiscal Year	11,171		16,491
Prior	38,141		22,483
Revolving Loans Amortized Cost	31,226		37,920
Revolving Loans Converted to Term Loans			28
Total	150,855		159,475
Commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Prior	7,147		9,932
Revolving Loans Amortized Cost	2,801		2,674
Total	9,948		12,606
Commercial [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Two Years Before Current Fiscal Year			205
Three Years Before Current Fiscal Year	205
Four Years Before Current Fiscal Year			1,815
Prior	3,556		1,798
Revolving Loans Amortized Cost	225		225
Total	3,986		4,043
Enterprise Value [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	4,443		87,403
Fiscal Year Before Current Fiscal Year	83,352		110,500
Two Years Before Current Fiscal Year	99,211		125,428
Three Years Before Current Fiscal Year	118,939		52,721
Four Years Before Current Fiscal Year	50,204		25,534
Prior	29,514		6,347
Revolving Loans Amortized Cost	21,570		25,700
Total	407,233		433,633
Fiscal Year Before Current Fiscal Year			3,561
Three Years Before Current Fiscal Year			2
Prior			1,225
Financing Receivable, Allowance for Credit Loss, Writeoff		3,560	4,788
Enterprise Value [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year	4,443		85,412
Fiscal Year Before Current Fiscal Year	83,352		97,942
Two Years Before Current Fiscal Year	83,657		119,126
Three Years Before Current Fiscal Year	107,871		48,427
Four Years Before Current Fiscal Year	42,498		23,186
Prior	24,490		3,346
Revolving Loans Amortized Cost	12,064		16,026
Total	358,375		393,465
Enterprise Value [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Fiscal Year Before Current Fiscal Year			11,768
Two Years Before Current Fiscal Year	14,813		4,838
Three Years Before Current Fiscal Year	10,547		2,424
Four Years Before Current Fiscal Year	5,880		753
Prior	3,555		3,001
Revolving Loans Amortized Cost	1,961		1,619
Total	36,756		24,403
Enterprise Value [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Current Fiscal Year			1,991
Fiscal Year Before Current Fiscal Year			790
Two Years Before Current Fiscal Year	741		1,464
Three Years Before Current Fiscal Year	521		1,870
Four Years Before Current Fiscal Year	1,826		1,595
Prior	1,469
Revolving Loans Amortized Cost	7,545		8,055
Total	12,102		15,765
Digital Asset [Member]
Financing Receivable, Recorded Investment [Line Items]
Fiscal Year Before Current Fiscal Year			12,289
Two Years Before Current Fiscal Year	10,071
Total	10,071		12,289
Digital Asset [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Fiscal Year Before Current Fiscal Year			12,289
Two Years Before Current Fiscal Year	10,071
Total	10,071		12,289
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Prior	47		121
Revolving Loans Amortized Cost	41		45
Revolving Loans Converted to Term Loans			2
Total	88		168
Current Fiscal Year	11		30
Prior	7		15
Financing Receivable, Allowance for Credit Loss, Writeoff	18	$ 16	45
Consumer [Member] | Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Prior	47		121
Revolving Loans Amortized Cost	41		45
Revolving Loans Converted to Term Loans			2
Total	$ 88		$ 168

Deposits (Narrative) (Details)

Deposits (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Deposits [Abstract]
Brokered certificates of deposit	$ 170	$ 180

Deposits (Schedule of Deposit B

Deposits (Schedule of Deposit Balances by Type) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deposits [Abstract]
Demand	$ 310,343	$ 308,769
NOW	66,019	93,812
Regular savings	258,776	231,593
Money market deposits	450,596	456,408
Certificate accounts of $250,000 or more	34,151	24,680
Certificate accounts less than $250,000	212,193	215,960
Total interest-bearing	1,021,735	1,022,453
Total deposits	$ 1,332,078	$ 1,331,222

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Federal Home Loan Bank, Advances [Line Items]
Short-term borrowings	$ 80,000,000	$ 95,000,000
Long-term Debt	9,663,000	9,697,000
Total borrowings	89,663,000	$ 104,697,000
Federal Reserve Bank [Member]
Federal Home Loan Bank, Advances [Line Items]
Total borrowings	0
Federal Reserve Bank, maximum amount available	296,500,000
Federal Home Loan Bank [Member]
Federal Home Loan Bank, Advances [Line Items]
Short-term borrowings	80,000,000
long-term borrowings, with original maturities more than one year	9,700,000
Total borrowings	$ 89,700,000
Interest rates on FHLB advances ranged from	5.55%
Amount available	$ 120,100,000
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	1.32%
Federal Home Loan Bank [Member] | Weighted Average [Member]
Federal Home Loan Bank, Advances [Line Items]
Interest rates on FHLB advances ranged from	1.28%

Borrowings (Schedule of Maturit

Borrowings (Schedule of Maturities of Advances from FHLB) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Borrowings [Abstract]
2024	$ 80,100
2025	5,136
2026	138
2027	139
2028	141
Thereafter	4,009
Total borrowings	$ 89,663	$ 104,697

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income on nonaccrual loans	$ 0	$ 0
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	7,946,000		$ 7,264,000
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	7,946,000		7,264,000
Nonrecurring Basis [Member] | Digital Asset [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	7,946,000		6,373,000
Nonrecurring Basis [Member] | Digital Asset [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	7,946,000		6,373,000
Nonrecurring Basis [Member] | Enterprise Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value			891,000
Nonrecurring Basis [Member] | Enterprise Value [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value			891,000
Carrying Amount [Member] | Nonrecurring Basis [Member] | Digital Asset [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	12,700,000		14,400,000
Reserves	2,100,000		5,900,000
Deferred fees and costs	101,000		101,000
Interest income on nonaccrual loans	$ 2,500,000		2,100,000
Carrying Amount [Member] | Nonrecurring Basis [Member] | Enterprise Value [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value			2,000,000
Reserves			1,100,000
Deferred fees and costs			3,000
Interest income on nonaccrual loans			$ 12,000

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in available-for-sale securities (at fair value)	$ 27,912	$ 28,571
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)	11,320	11,400
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)	7,486	7,535
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)	9,106	9,636
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)	27,912	28,571
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)	11,320	11,400
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)	7,486	7,535
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)	9,106	9,636
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)	27,912	28,571
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)	11,320	11,400
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)	7,486	7,535
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)	$ 9,106	$ 9,636

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - Nonrecurring Basis [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 7,946	$ 7,264
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	7,946	7,264
Enterprise Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value		891
Enterprise Value [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value		891
Digital Asset [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	7,946	6,373
Digital Asset [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 7,946	$ 6,373

Fair Value Measurements (Sche_3

Fair Value Measurements (Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - Nonrecurring Basis [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets, fair value	$ 7,946	$ 7,264
Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets, fair value	7,946	7,264
Digital Asset [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets, fair value	7,946	6,373
Digital Asset [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets, fair value	$ 7,946	$ 6,373
Digital Asset [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%
Digital Asset [Member] | Significant Unobservable Inputs Level 3 [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique	2%	25%
Enterprise Value [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets, fair value		$ 891
Enterprise Value [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets, fair value		$ 891
Enterprise Value [Member] | Significant Unobservable Inputs Level 3 [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique		0%
Enterprise Value [Member] | Significant Unobservable Inputs Level 3 [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Percentage of valuation technique		26%

Fair Value Measurements (Sche_4

Fair Value Measurements (Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments, Held or Issued for Purposes Other Than Trading) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financial assets:
Available-for-sale debt securities	$ 27,912	$ 28,571
Federal Home Loan Bank of Boston stock	3,605	4,056
Loans	1,340,574	1,321,158
Accrued interest receivable	5,921	6,090
Financial liabilities:
Deposits	1,332,078	1,331,222
Borrowings	9,663	9,697
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	190,851	220,332
Available-for-sale debt securities	27,912	28,571
Federal Home Loan Bank of Boston stock	3,605	4,056
Loans	1,340,574	1,321,158
Accrued interest receivable	5,921	6,090
Financial liabilities:
Deposits	1,332,078	1,331,222
Borrowings	89,663	104,697
Fair Value [Member]
Financial assets:
Cash and cash equivalents	190,851	220,332
Available-for-sale debt securities	27,912	28,571
Loans	1,281,975	1,279,421
Accrued interest receivable	5,921	6,090
Financial liabilities:
Deposits	1,332,191	1,331,701
Borrowings	89,705	104,765
Quoted Prices In Active Markets Identical Assets Level 1 [Member] | Fair Value [Member]
Financial assets:
Cash and cash equivalents	190,851	220,332
Significant Other Observable Inputs Level 2 [Member] | Fair Value [Member]
Financial assets:
Available-for-sale debt securities	27,912	28,571
Accrued interest receivable	5,921	6,090
Financial liabilities:
Deposits	1,332,191	1,331,701
Borrowings	89,705	104,765
Significant Unobservable Inputs Level 3 [Member] | Fair Value [Member]
Financial assets:
Loans	$ 1,281,975	$ 1,279,421

Regulatory Capital (Narrative)

Regulatory Capital (Narrative) (Details)	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2021 shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	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
Minimum Tier 1 capital to risk-weighted assets ratio		0.060		0.060
Minimum total capital to risk-weighted assets ratio		0.080		0.080
Minimum Tier 1 leverage ratio		0.040		0.040
CETI capital ratio		0.065		0.065
Tier 1 ratio		0.080		0.080
Total risk based capital ratio		0.10		0.100
Tier 1 leverage ratio		0.05%
Capital conservation buffer		2.50%
Net income (loss)		$ 4,981,000	$ 2,103,000
Stock Repurchased At End Of Period Shares | shares		1,145,479
Repurchase of common stock (in shares) | shares		0		0
Subsidiaries [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Net income (loss)		$ 4,900,000		$ 10,700,000	$ 21,500,000
Dividends paid		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						$ 10,000,000,000
Repurchase Program [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Plan to repurchase (in shares) | shares	1,400,000
Retained Earnings [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Net income (loss)		$ 4,981,000	$ 2,103,000

Regulatory Capital (Schedule of

Regulatory Capital (Schedule of Bank's Actual Capital Amounts and Ratios) (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Regulatory Capital [Abstract]
Total Capital (to Risk Weighted Assets), Actual, Amount	$ 216,045	$ 212,992
Total Capital (to Risk Weighted Assets), Actual, Ratio	0.1412	0.1402
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 122,424	$ 121,525
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	$ 153,030	$ 151,907
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	$ 199,754	$ 193,968
Tier 1 Capital (to Risk Weighted Assets), Actual Capital, Ratio	0.1305	0.1277
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 91,818	$ 91,144
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	$ 122,424	$ 121,525
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	$ 199,754	$ 193,968
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Ratio	0.1305	0.1277
Common Equity Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount	$ 68,864	$ 68,358
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	$ 99,470	$ 98,739
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	$ 199,754	$ 193,968
Tier 1 Capital (to Average Assets), Actual Capital, Ratio	0.1268	0.1159
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Amount	$ 62,993	$ 66,924
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	$ 78,741	$ 83,655
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
	Mar. 31, 2024	Mar. 31, 2023
Employee Stock Ownership Plan [Abstract]
ESOP shares	1,538,868
ESOP payable term	15 years
ESOP prime rate percentage	5%
Purchase by ESOP (in shares)	89,758
Proceeds of a loan	$ 11,800
Fair value of unallocated shares	8,000
Compensation expense	$ 225	$ 187

Employee Stock Ownership Plan_3

Employee Stock Ownership Plan (Schedule of Shares Held by the ESOP) (Details) - shares	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation
Total	1,538,868
Employee Stock Ownership Plan [Member]
Share-Based Compensation
Allocated	641,288	551,530
Committed to be allocated	22,439	89,758
Unallocated	875,141	897,580
Total	1,538,868	1,538,868

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Common Share [Abstract]
Anti-dilutive shares	844,887	1,486,071

Earnings Per Common Share (Sche

Earnings Per Common Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Common Share [Abstract]
Net Income attributable to common shareholders	$ 4,981	$ 2,103
Average number of common shares issued	17,665,391	17,686,055
Less:
Average unallocated ESOP shares	(882,623)	(972,380)
Average unvested restricted stock	(113,317)	(183,048)
Average number of common shares outstanding to calculate basic earnings per common share	16,669,451	16,530,627
Effect of dilutive unvested restricted stock and stock option awards	51,202	639
Average number of common shares outstanding to calculate diluted earnings per common share	16,720,653	16,531,266
Earnings per common share:
Basic (in dollars per share)	$ 0.30	$ 0.13
Diluted (in dollars per share)	$ 0.30	$ 0.13

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation [Line Items]
Granted
Stock Option [Member]
Share-Based Compensation [Line Items]
Share based compensation expenses	$ 130,000	$ 155,000
Intrinsic value of options exercised		97,000
Tax benefit from option exercises		27,000
Stock options exercised, net (in shares)
Restricted Stock [Member]
Share-Based Compensation [Line Items]
Share based compensation expenses	$ 131,000	164,000
Tax benefit from option exercises	40,000	51,000
Fair value of shares vested	$ 84,000	$ 44,000
2016 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Shares reserved	902,344
2016 Equity Plan [Member] | Restricted Stock [Member]
Share-Based Compensation [Line Items]
Shares reserved	360,935
2020 Equity Plan [Member] | Stock Option [Member]
Share-Based Compensation [Line Items]
Shares reserved	1,021,239
2020 Equity Plan [Member] | Restricted Stock [Member]
Share-Based Compensation [Line Items]
Shares reserved	408,495
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 Stock Option Grants Activity) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Stock Option Awards
Granted
Stock Option [Member]
Stock Option Awards
Outstanding, beginning	1,188,763
Forfeited	(40,850)
Exercised
Outstanding, ending	1,147,913
Outstanding and expected to vest at March 31, 2024	1,147,913
Vested and Exercisable at March 31, 2024	773,911
Unrecognized compensation cost | $	$ 1,322
Weighted average remaining recognition period (years)	2 years 9 months 18 days
Weighted Average Exercise Price
Outstanding, beginning | $ / shares	$ 10.99
Forfeited | $ / shares	11.93
Outstanding, ending | $ / shares	10.96
Outstanding and expected to vest at March 31, 2024 | $ / shares	10.96
Vested and Exercisable at March 31, 2024 | $ / shares	$ 10.53
Weighted Average Remaining Contractual Term (years)
Outstanding at March 31, 2024	5 years 2 months 4 days
Outstanding and expected to vest at March 31, 2024	5 years 2 months 4 days
Vested and Exercisable at March 31, 2024	3 years 11 months 12 days
Aggregate Intrinsic Value
Outstanding at March 31, 2024 | $	$ 157,000
Outstanding and expected to vest at March 31, 2024 | $	157,000
Vested and Exercisable at March 31, 2024 | $	$ 157,000

Share-Based Compensation (Sch_2

Share-Based Compensation (Schedule of Activity in Restricted Stock Awards Under the Equity Plan) (Details) - Restricted Stock [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Number of Shares
Unvested restricted stock awards, beginning | shares	145,921
Forfeited | shares	(16,340)
Vested | shares	(7,945)
Unvested restricted stock awards, ending | shares	121,636
Unrecognized compensation cost | $	$ 1,253
Weighted average remaining recognition period (years)	2 years 7 months 2 days
Weighted Average Grant Price
Unvested restricted stock awards, beginning | $ / shares	$ 12.37
Forfeited | $ / shares	11.93
Vested | $ / shares	11.57
Unvested restricted stock awards, ending | $ / shares	$ 12.48

Leases (Narrative) (Details)

Leases (Narrative) (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) item	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Leases [Abstract]
Operating right-of-use assets	$ 3,739,000		$ 3,780,000
Operating lease liabilities	$ 4,142,000		$ 4,171,000
Number of leased branch locations | item	2
Number of leased loan production office | item	1
Operating leases expense	$ 79,000	$ 79,000

Leases (Schedule of Information

Leases (Schedule of Information Regarding Operating Leases) (Details)	Mar. 31, 2024	Dec. 31, 2023
Leases [Line Items]
Weighted-average discount rate	3.63%	3.62%
Weighted-average remaining lease term	25 years 8 months 12 days	25 years 9 months 18 days
Minimum [Member]
Leases [Line Items]
Range of lease expiration dates	0 years	1 year
Range of lease renewal options	0 years	0 years
Maximum [Member]
Leases [Line Items]
Range of lease expiration dates	12 years	12 years
Range of lease renewal options	20 years	20 years

Leases (Schedule of Maturities

Leases (Schedule of Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fiscal Year-End
2024	$ 203	$ 270
2025	280	280
2026	291	291
2027	293	293
2028	208	208
Thereafter	5,533	5,533
Total lease payments	6,808	6,875
Less imputed interest	(2,666)	(2,704)
Total lease liabilities	$ 4,142	$ 4,171

Qualified Affordable Housing _2

Qualified Affordable Housing Project Investments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Qualified Affordable Housing Project Investments [Abstract]
Qualified affordable housing project investments	$ 5,900		$ 6,100
Qualified affordable housing project investments, amortized expense	178	$ 1,200
Qualified affordable housing tax credits	$ 218	$ 1,500

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 04, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Gross loans		$ 1,356,580		$ 1,342,729
Loans, net of allowance for loan losses		16,006	$ 24,812	21,571	$ 28,069
Net loans		1,340,574		1,321,158
Charged-off		23	3,617	5,003
Digital Asset [Member]
Subsequent Event [Line Items]
Gross loans		10,071		12,289
Loans, net of allowance for loan losses		2,124	$ 7,219	$ 5,915	$ 10,493
Net loans		$ 8,000
Subsequent Event [Member] | Digital Asset [Member]
Subsequent Event [Line Items]
Charged-off	$ 2,100

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false