Bogota Financial (BSBK) 10-Q 23 Dec 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Dec. 20, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	Bogota Financial Corp.
Entity Central Index Key	0001787414
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, State or Province	NJ
Entity Incorporation, State or Country Code	MD
Entity Common Stock, Shares Outstanding		0

Consolidated Statements Of Fina

Consolidated Statements Of Financial Condition - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Assets [Abstract]
Cash and due from banks	$ 7,045,570	$ 5,744,106
Interest-bearing deposits in other banks	25,721,781	18,773,496
Cash and cash equivalents	32,767,351	24,517,602
Securities available for sale	11,946,633	13,599,806
Securities held to maturity (fair value of $52,979,846 and $68,802,922, respectively)	52,479,688	70,048,579
Loans, net of allowance of $2,016,175 and $1,976,175, respectively	536,543,577	526,669,660
Premises and equipment, net	4,155,682	4,656,903
Federal Home Loan Bank (FHLB) stock	6,208,500	4,684,300
Accrued interest receivable	1,972,360	1,946,768
Bank owned life insurance	17,309,247	17,004,105
Other assets	2,249,153	1,880,815
Total Assets	665,632,191	665,008,538
Liabilities
Non-interest bearing	13,002,497	12,500,091
Interest bearing	461,352,333	497,793,237
Total Deposits	474,354,830	510,293,328
FHLB advances	108,898,206	74,638,690
Advance payments by borrowers for taxes and insurance	4,556,900	4,332,611
Other liabilities	3,688,188	3,266,141
Total liabilities	591,498,124	592,530,770
Equity
Retained earnings	74,504,703	72,794,887
Accumulated other comprehensive loss	(370,636)	(317,119)
Total equity	74,134,067	72,477,768
Total liabilities and equity	$ 665,632,191	$ 665,008,538

Consolidated Statements Of Fi_2

Consolidated Statements Of Financial Condition (Parenthetical) - USD ($)	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Fair value of Securities Maturities	$ 52,979,846		$ 68,802,922
Allowance For Loan	$ 2,016,175	$ 2,016,175	$ 1,976,175	$ 1,976,175	$ 1,976,175	$ 1,976,175

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest income
Loans	$ 5,136,299	$ 4,763,057	$ 15,147,160	$ 14,363,997
Securities
Taxable	441,557	489,299	1,383,258	1,378,028
Tax-exempt	11,836	39,267	77,787	79,186
Other interest-earning assets	215,048	222,543	659,842	615,234
Total interest income	5,804,740	5,514,166	17,268,047	16,436,445
Interest expense
Deposits	2,485,223	1,969,616	7,433,088	5,352,228
FHLB advances	568,740	288,262	1,487,479	884,325
Total interest expense	3,053,963	2,257,878	8,920,567	6,236,553
Net interest income	2,750,777	3,256,288	8,347,480	10,199,892
Provision for loan losses
Net interest income after provision for loan losses	2,750,777	3,256,288	8,347,480	10,199,892
Non-interest income
Fees and service charges	25,447	19,970	85,887	97,723
Bank owned life insurance	102,880	114,386	305,142	344,440
Other	3,885	7,435	20,860	30,008
Total non-interest income	132,212	141,791	411,889	472,171
Non-interest expense
Salaries and employee benefits	1,229,834	1,148,288	3,704,454	3,407,577
Occupancy and equipment	162,945	168,272	513,517	526,071
FDIC insurance assessment	14,161	52,682	75,296	146,574
Data processing	83,915	218,637	820,958	658,044
Advertising	65,000	60,000	185,000	180,000
Director fees	160,651	165,557	498,596	506,442
Professional Fees	85,500	53,000	208,000	176,000
Other	136,762	218,125	554,078	608,348
Total non-interest expense	1,938,768	2,084,561	6,559,899	6,209,056
Income before income taxes	944,221	1,313,518	2,199,470	4,463,007
Income tax expense	273,207	374,596	558,367	1,175,006
Net income	$ 671,014	$ 938,922	$ 1,641,103	$ 3,288,001

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 671,014	$ 938,922	$ 1,641,103	$ 3,288,001
Unrealized gains/losses on securities available for sale:
Unrealized holding (loss) gain arising during the period	(16,035)	(6,864)	41,227	(73,538)
Tax effect, income (benefit) tax expense	4,508	1,930	(11,589)	20,672
Net of tax	(11,527)	(4,934)	29,638	(52,866)
Defined benefit retirement plans:
Net gain arising during the period including changes in assumptions
Reclassification adjustment for amortization of prior service cost and net gain/loss included in salaries and employee benefits	(20,058)		(20,058)
Tax effect, income tax benefit	5,616		5,616
Net of tax	(14,442)		(14,442)
Total other comprehensive income (loss)	(25,969)	(4,934)	15,196	(52,866)
Comprehensive income	$ 645,046	$ 933,988	$ 1,656,299	$ 3,235,135

Consolidated Statements Of Equi

Consolidated Statements Of Equity - USD ($)	Total	Retained Earnings [Member]	Accumulates Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ 68,308,489	$ 68,658,210	$ (349,721)
Net income	1,244,876	1,244,876
Other comprehensive income	(37,137)		(37,137)
Ending balance at Mar. 31, 2018	69,516,228	69,903,086	(386,858)
Beginning balance at Dec. 31, 2017	68,308,489	68,658,210	(349,721)
Net income	3,288,001
Other comprehensive income	(52,866)
Ending balance at Sep. 30, 2018	71,543,623	71,946,211	(402,588)
Beginning balance at Mar. 31, 2018	69,516,228	69,903,086	(386,858)
Net income	1,104,203	1,104,203
Other comprehensive income	(10,765)		(10,765)
Ending balance at Jun. 30, 2018	70,609,636	71,007,289	(397,653)
Net income	938,922	938,922
Other comprehensive income	(4,934)		(4,935)
Ending balance at Sep. 30, 2018	71,543,623	71,946,211	(402,588)
Beginning balance at Dec. 31, 2018	72,477,768	72,794,887	(317,119)
Net income	361,818	361,818
Other comprehensive income	13,201		13,201
Reclassification of the stranded tax effects from the enactment of the Tax Cuts and Jobs Act		68,713	(68,713)
Ending balance at Mar. 31, 2019	72,852,787	73,225,418	(372,631)
Beginning balance at Dec. 31, 2018	72,477,768	72,794,887	(317,119)
Net income	1,641,103
Other comprehensive income	15,196
Ending balance at Sep. 30, 2019	74,134,067	74,504,703	(370,636)
Beginning balance at Mar. 31, 2019	72,852,787	73,225,418	(372,631)
Net income	608,271	608,271
Other comprehensive income	27,965		27,965
Ending balance at Jun. 30, 2019	73,489,023	73,833,689	(344,666)
Net income	671,014	671,014
Other comprehensive income	(25,969)		(25,970)
Ending balance at Sep. 30, 2019	$ 74,134,067	$ 74,504,703	$ (370,636)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flow - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 1,641,103	$ 3,288,001
Adjustments to reconcile net income to net cash from operating activities:
Depreciation of premises and equipment	227,638	234,451
Amortization of deferred loan fees	306,297	367,973
Amortization of premiums and accretion of discounts on securities, net	105,269	159,510
Deferred income tax benefit	4,255	20,812
Increase in cash surrender value of bank owned life insurance	(305,142)	(344,440)
Changes in:
Accrued interest receivable	(25,592)	(159,144)
Net changes in other assets	(77,280)	(794,983)
Net changes in other liabilities	424,281	567,140
Net cash provided by operating activities	2,300,829	3,339,320
Cash flows from investing activities
Purchases of securities available for sale	(497,500)	(4,030,000)
Purchases of securities held to maturity	(2,051,895)	(16,185,517)
Maturities, calls, and repayments of securities available for sale	2,179,766	1,760,280
Maturities, calls, and repayments of securities held to maturity	19,527,652	6,526,169
Net (increase) decrease in loans	(10,180,214)	12,905,793
Purchases of premises and equipment	(49,996)	(576,047)
Purchase of FHLB Stock	(4,195,300)	(1,012,903)
Redemption of FHLB stock	2,671,100	2,258,903
Net cash provided by investing activities	7,403,613	1,646,678
Cash flows from financing activities
Net (decrease) increase in deposits	(35,938,498)	25,140,183
Net (decrease) increase in short-term FHLB advances	(40,000,000)	3,500,000
Proceeds from long-term FHLB non-repo advances	77,000,000
Repayments of long-term FHLB non-repo advances	(2,740,484)	(23,875,086)
Repayments of long-term FHLB repo advances		(7,000,000)
Net increase in advance payments from borrowers for taxes and insurance	224,289	1,170,582
Net cash used in financing activities	(1,454,693)	(1,064,321)
Net increase in cash and cash equivalents	8,249,749	3,921,677
Cash and cash equivalents at beginning of year	24,517,602	22,558,312
Cash and cash equivalents at September 30.	32,767,351	26,479,989
Supplemental cash flow information
Income taxes paid	603,000	2,130,000
Interest paid	$ 8,920,567	$ 6,236,553

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation Bogota Securities Corp. was formed on August 14, 2014 for the purpose of buying, selling and holding investment securities. Bogota Properties, LLC was inactive at September 30, 2019 and December 31, 2018. The Bank generally grants residential, commercial and consumer loans to, and accepts deposits from, customers in New Jersey. The debtors’ ability to repay the loans is dependent upon the region’s economy and the borrowers’ circumstances. The Bank is also subject to the regulations of certain federal and state agencies and undergoes periodic examination by those regulatory authorities. Use of Estimates Basis of Presentation S-X The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and disclosures provided, and actual results could differ. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures necessary for the fair presentation of the accompanying consolidated financial statements have been included. . Newly Issued, Not Yet Effective Accounting Pronouncements ASU 2016-01, 825-10): Liabilities. ASU 2016-01, available-for-sale. 8 In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) for the bank In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses 2016-13 the bank for 2 2022 2016-13 Adopted effective Accounting Pronouncements: 2018-02, Income Statement- Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. Existing GAAP required recognition of the tax rate change effects on the DTA revaluation as an adjustment to income tax expense. As a result the AOCI contained the stranded amounts from prior periods at the previous tax rate. ASU 2018-12 On January 1, 2019, the Bank adopted ASU 2014-09 Revenue from Contracts with Customers (Topic 606) non-interest deposits. The amendments allow for one of two transition methods: full retrospective or modified retrospective. The full retrospective approach requires application to all periods presented. The modified retrospective transition requires application to uncompleted contracts at the date of adoption. Periods prior to the date of adoption are not retrospectively revised, but a cumulative effect is recognized at the date of initial application on uncompleted contracts. The Bank adopted the new revenue guidance using the modified retrospective approach. There was no significant change upon adoption of the standard, as the new standard did not materially change the way the Bank currently records revenue and as such, no cumulative effect adjustment was recorded.

SECURITIES AVAILABLE FOR SALE

SECURITIES AVAILABLE FOR SALE	9 Months Ended
	Sep. 30, 2019
Available-for-sale Securities
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
SECURITIES AVAILABLE FOR SALE	NOTE 2 – SECURITIES AVAILABLE FOR SALE The following table summarizes the amortized cost, fair value, and gross unrealized gains and losses of securities available for sale at September 30, 2019 and December 31, 2018: Amortized Gross Gross Fair September 30, 2019 (unaudited) Corporate bonds due in: One through five years $ 5,526,043 $ 28,396 $ (6,244 ) $ 5,548,195 Five through ten years 350,000 — (1,300 ) 348,700 MBSs – residential 5,919,166 130,572 — 6,049,738 Total $ 11,795,209 $ 158,968 $ (7,544 ) $ 11,946,633 Amortized Gross Gross Fair December 31, 2018 Corporate bonds due in: One through five years $ 5,311,813 $ 15,700 $ (34,519 ) $ 5,292,994 Five through ten years 1,345,749 6,865 (22,290 ) 1,330,324 MBSs – residential 6,832,048 160,222 (15,782 ) 6,976,488 Total $ 13,489,610 $ 182,787 $ (72,591 ) $ 13,599,806 MBSs include Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Government National Mortgage Association (“GNMA”) securities, all of which are U.S. government sponsored agencies. There were no sales of securities during the three months and nine months ended September 30, 2019 and September 30, 2018. The age of unrealized losses and the fair value of related securities as of September 30, 2019 and December 31, 2018 were as follows: Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Value Unrealized Fair Value Unrealized September 30, 2019 (unaudited) Corporate bonds $ 348,700 $ (1,300 ) $ 1,003,417 $ (6,244 ) $ 1,352,117 $ (7,544 ) MBSs – residential — — — — — — Total $ 348,700 $ (1,300 ) $ 1,003,417 $ (6,244 ) $ 1,352,117 $ (7,544 ) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Value Unrealized Fair Value Unrealized December 31, 2018 Corporate bonds $ 3,968,269 $ (56,809 ) $ — $ — $ 3,968,269 $ (56,809 ) MBSs – residential 875,258 (15,782 ) — — 875,258 (15,782 ) Total $ 4,843,527 $ (72,591 ) $ — $ — $ 4,843,527 $ (72,591 ) Unrealized losses on corporate bonds available for sale have not been recognized into income because the issuer bonds are of high credit quality, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. At September 30, 2019 and December 31, 2018, 100% of the MBSs were issued by U.S. government-sponsored entities and agencies, primarily FNMA and FHLMC, institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Bank does not have the intent to sell these MBSs and it is likely that it will not be required to sell the securities before their anticipated recovery, the Bank does not consider these securities to be other-than-temporary impaired at September 30, 2019 and December 31, 2018. At September 30, 2019 and December 31, 2018, securities available for sale with a carrying amount of $0 and $1,208,934, respectively, were pledged to secure repurchase agreements at the FHLB (see Note 7). At September 30, 2019 and December 31, 2018, securities available for sale with a carrying value of $278,281 and $331,270, respectively, were pledged to secure public deposits.

SECURITIES HELD TO MATURITY

SECURITIES HELD TO MATURITY	9 Months Ended
	Sep. 30, 2019
Held-to-maturity Securities
Marketable Securities [Line Items]
SECURITIES HELD TO MATURITY	NOTE 3 – SECURITIES HELD TO MATURITY The following table summarizes the amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity at September 30, 2019 and December 31, 2018: Amortized Gross Gross Fair September 30, 2019 (unaudited) U.S . One through five years $ 7,449,513 $ — $ (28,413 ) $ 7,421,100 Corporate bonds due in: Five through ten years 5,436,849 159,730 — 5,596,579 Municipal obligations due in: One through five years 2,290,855 18,665 — 2,309,520 MBSs: Residential 12,381,566 121,268 (39,793 ) 12,463,041 Commercial 24,920,905 288,567 (19,866 ) 25,189,606 Total $ 52,479,688 $ 588,230 $ (88,072 ) $ 52,979,846 Amortized Gross Gross Fair December 31, 2018 U.S . One through five years $ 17,673,603 $ — $ (191,118 ) $ 17,482,485 Corporate bonds due in: Five through ten years 4,004,426 18,319 (61,593 ) 3,961,152 Municipal obligations due in: One through five years 8,135,032 — (32,581 ) 8,102,451 MBSs: Residential 14,804,434 57,105 (301,650 ) 14,559,889 Commercial 25,431,084 6,649 (740,788 ) 24,696,945 Total $ 70,048,579 $ 82,073 $ (1,327,730 ) $ 68,802,922 MBSs include FHLMC, FNMA and GNMA securities, all of which are U.S. government sponsored agencies. The age of unrecognized losses and the fair value of related securities were as follows: Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Value Unrecognized Fair Value Unrecognized September 30, 2019 (unaudited) U.S. Government-sponsored agencies $ — $ — $ 7,421,100 $ (28,413 ) $ 7,421,100 $ (28,413 ) MBSs – residential 2,682,615 (8,508 ) 1,622,831 (31,285 ) 4,305,446 (39,793 ) MBSs – commercial 4,022,507 (19,866 ) — — 4,022,507 (19,866 ) Total $ 6,705,122 $ (28,374 ) $ 9,043,931 $ (59,698 ) $ 15,749,053 $ (88,072 ) Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Value Unrecognized Fair Value Unrecognized December 31, 2018 U.S. Government-sponsored agencies $ 7,218,382 $ (5,891 ) $ 10,264,103 $ (185,227 ) $ 17,482,485 $ (191,118 ) Corporate bonds — — 1,438,407 (61,593 ) 1,438,407 (61,593 ) Municipal obligations 6,686,311 (10,842 ) 1,416,140 (21,739 ) 8,102,451 (32,581 ) MBSs – residential 1,289,961 (8,679 ) 10,429,486 (292,971 ) 11,719,447 (301,650 ) MBSs – commercial 1,826,592 (12,427 ) 21,257,626 (728,361 ) 23,084,218 (740,788 ) Total $ 17,021,246 $ (37,839 ) $ 44,805,762 $ (1,289,891 ) $ 61,827,008 $ (1,327,730 ) Unrecognized losses have not been recognized into income because the issuers of the securities are of high credit quality, management does not intend to sell and it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. The fair value is expected to recover as the securities approach maturity. At September 30, 2019 and December 31, 2018, securities held to maturity with a carrying amount of $14,596,888 and $23,058,995, respectively, were pledged to secure repurchase agreements at the FHLBNY (see Note 7). At September 30, 2019 and December 31, 2018, securities held to maturity with a carrying value of $4,098,846 and $23,789,123, respectively were pledged to secure public deposits.

LOANS

LOANS	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
LOANS	NOTE 4 – LOANS Loans are summarized as follows at September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 (unaudited) Real estate: Residential $ 384,759,708 $ 376,304,160 Commercial and multi-family real estate 123,121,421 123,220,556 Construction 1,110,157 2,338,647 Commercial and industrial 2,379,584 1,267,313 Consumer: Home equity and other 27,188,882 25,515,159 Total loans 538,559,752 528,645,835 Allowance for loan losses (2,016,175 ) (1,976,175 ) Net loans $ 536,543,577 $ 526,669,660 The Bank has granted loans to officers and directors of the Bank. At September 30, 2019 and December 31, 2018, such loans totaled approximately $787,420 and $809,956, respectively. The following table presents the activity in the allowance for loan losses by portfolio segments for the three and . Residential Commercial Construction Consumer Commercial Total Three months September 30, 2019 (unaudited) Allowance for loan losses: Beginning balance $ 1,300,675 $ 600,000 $ 12,500 $ 94,000 $ 9,000 $ 2,016,175 Provision for loan losses (credit) 37,400 (38,000 ) 500 100 — — Recoveries — — — — — — Total ending allowance balance $ 1,338,075 $ 562,000 $ 13,000 $ 94,100 $ 9,000 $ 2,016,175 September 30, 2018 (unaudited) Allowance for loan losses: Beginning balance $ 1,322,175 $ 551,000 $ 12,000 $ 91,000 $ — $ 1,976,175 Provision for loan losses (credit) 17,400 (23,900 ) 1,600 (100 ) 5,000 — Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,339,575 $ 527,100 $ 13,600 $ 90,900 $ 5,000 $ 1,976,175 Residential Commercial Construction Consumer Commercial Total Nine months September 30, 2019 (unaudited) Allowance for loan losses: Beginning balance $ 1,266,175 $ 607,000 $ 9,000 $ 89,000 $ 5,000 $ 1,976,175 Provision for loan losses (credit) 31,900 (45,000 ) 4,000 5,100 4,000 — Loans charged off — — — — — — Recoveries 40,000 — — — — 40,000 Total ending allowance balance $ 1,338,075 $ 562,000 $ 13,000 $ 94,100 $ 9,000 $ 2,016,175 September 30, 2018 (unaudited) Allowance for loan losses: Beginning balance $ 1,248,400 $ 620,775 $ 12,000 $ 95,000 $ — $ 1,976,175 Provision for loan losses (credit) 91,175 (93,675 ) 1,600 (4,100 ) 5,000 — Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,339,575 $ 527,100 $ 13,600 $ 90,900 $ 5,000 $ 1,976,175 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segments and based on impairment method as of September 30, 2019 and December 31, 2018: Residential Commercial Construction Consumer Commercial Total September 30, 2019 (unaudited) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,338,075 562,000 13,000 94,100 9,000 2,016,175 Total ending allowance balance $ 1,338,075 $ 562,000 $ 13,000 $ 94,100 $ 9,000 $ 2,016,175 Loans: Loans individually evaluated for impairment $ 1,196,462 $ — $ — $ 41,883 $ — $ 1,238,345 Loans collectively evaluated for impairment 383,563,246 123,121,421 1,110,157 27,146,999 2,379,584 537,321,407 Total ending loan balance $ 384,759,708 $ 123,121,421 $ 1,110,157 $ 27,188,882 $ 2,379,584 $ 538,559,752 December 31, 2018 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,266,175 607,000 9,000 89,000 5,000 1,976,175 Total ending allowance balance $ 1,266,175 $ 607,000 $ 9,000 $ 89,000 $ 5,000 $ 1,976,175 Loans: Loans individually evaluated for impairment $ 1,186,317 $ — $ — $ 22,152 $ — $ 1,208,469 Loans collectively evaluated for impairment 375,117,843 123,220,556 2,338,647 25,493,007 1,267,313 527,437,366 Total ending loan balance $ 376,304,160 $ 123,220,556 $ 2,338,647 $ 25,515,159 $ 1,267,313 $ 528,645,835 Impaired loans as of and for the nine As of 2019 As of (unaudited) Year-end $ 1,238,345 $ 1,208,469 Year-end — — Total $ 1,238,345 $ 1,208,469 Amount of the allowance for loan losses allocated $ — $ — Average of individually impaired loans during the year 1,228,146 1,899,786 Interest income recognized during impairment and cash-basis interest income recognized for the nine months ended September 30, 2019 and 2018 and for the year ended December 31, 2018 was nominal. The Bank has five five no no four Nonaccrual loans and loans past due 90 days or more still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following table presents the recorded investment in nonaccrual and loans past due 90 days or more and still on accrual by class of loans as of September 30, 2019 and December 31, 2018: Nonaccrual Loans Past September 30, 2019 (unaudited) Residential $ 515,311 $ — Commercial and multi-family — — Consumer 41,884 — Total $ 557,195 $ — December 31, 2018 Residential $ 959,232 $ — Commercial and multi-family — — Consumer 22,152 — Total $ 981,384 $ — The following table presents the aging of the recorded investment in past due loans as of September 30, 2019 and December 31, 2018, by class of loans: 30-59 60-89 Greater Total Loans Not Total September 30, 2019 (unaudited) Residential $ — $ 119,139 $ 515,311 $ 634,450 $ 384,125,258 $ 384,759,708 Commercial and multi-family — — — — 123,121,421 123,121,421 Construction — — — — 1,110,157 1,110,157 Commercial and industrial — — — — 2,379,584 2,379,584 Consumer 19,732 — 22,152 41,884 27,146,998 27,188,882 Total $ 19,732 $ 119,139 $ 537,463 $ 676,334 $ 537,883,418 $ 538,559,752 December 31, 2018 Residential $ 388,611 $ — $ 636,612 $ 1,025,223 $ 375,278,937 $ 376,304,160 Commercial and multi-family — — — — 123,220,556 123,220,556 Construction — — — — 2,338,647 2,338,647 Commercial and industrial — — — — 1,267,313 1,267,313 Consumer — — 22,152 22,152 25,493,007 25,515,159 Total $ 388,611 $ — $ 658,764 $ 1,047,375 $ 527,598,460 $ 528,645,835 Loans greater than 89 days past due are considered to be nonperforming. Credit Quality Indicators The Bank categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Bank analyzes loans individually by classifying the loans as to credit risk. Commercial and multi-family real estate, commercial and industrial and construction loans are graded on an annual basis. Residential and consumer loans are primarily evaluated based on performance. Refer to the immediately preceding table for the aging of the recorded investment of these loan segments. The Bank uses the following definitions for risk ratings: Special Mention Substandard Doubtful Loans not meeting the criteria above are considered to be Pass rated loans. Based on the most recent analysis performed, the risk category of loans by class is as follows: Pass Special Mention Substandard Doubtful Totals September 30, 2019 (unaudited) Residential $ 383,350,805 $ 268,566 $ 1,140,337 $ — $ 384,759,708 Commercial and multi-family 121,683,131 1,259,720 178,570 — 123,121,421 Construction 1,110,157 — — — 1,110,157 Commercial and industrial 2,379,584 — — — 2,379,584 Consumer 27,188,882 22,152 58,132 — 27,188,882 Total $ 535,632,275 $ 1,550,438 $ 1,377,039 $ — $ 538,559,752 December 31, 2018 Residential $ 375,117,843 $ 271,475 $ 914,842 $ — $ 376,304,160 Commercial and multi-family 121,756,420 1,464,136 — — 123,220,556 Construction 2,338,647 — — — 2,338,647 Commercial and industrial 1,267,313 — — — 1,267,313 Consumer 25,451,080 64,079 — — 25,515,159 Total $ 525,931,303 $ 1,799,690 $ 914,842 $ — $ 528,645,835

REGULATORY CAPITAL MATTERS

REGULATORY CAPITAL MATTERS	9 Months Ended
	Sep. 30, 2019
Banking and Thrift [Abstract]
REGULATORY CAPITAL MATTERS	NOTE 5 – REGULATORY CAPITAL MATTERS Banks are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance , and % Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If only adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At September 30, 2019 and at December 31, 2018, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the Bank’s category. Actual and required capital amounts (in thousands) and ratios are presented below at September 30, 2019 and December 31, 2018. Actual For Capital Adequacy To Be Well Capitalized (Dollars in Thousands) Amount Ratio Amount Ratio Amount Ratio September 30, 2019 (unaudited): Total capital to risk weighted assets $ 76,520 18.47 % $ 33,142 8.00 % $ 41,428 10.00 % Tier 1 (Core) capital 74,505 17.98 24,857 6.00 33,142 8.00 Tier 1 Common Equity to risk weighted assets 74,505 17.98 18,643 4.50 26,928 6.50 Tier 1 (Core) capital to average assets 74,505 11.26 16,571 4.00 20,714 5.00 December 31, 2018: Total capital to risk weighted assets $ 74,770 18.34 % $ 32,620 8.00 % $ 40,776 10.00 % Tier 1 (Core) capital 72,794 17.85 24,465 6.00 32,620 8.00 Tier 1 Common Equity to risk weighted assets 72,794 17.85 18,349 4.50 26,504 6.50 Tier 1 (Core) capital to average assets 72,794 11.19 26,022 4.00 32,528 5.00

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 The Bank is a party to financial instruments with off-balance The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance The Bank had outstanding firm commitments, all of which expire within two months, to originate, or purchase participation interests in, loans at September 30, 2019 and December 31, 2018 is as follows: September 30, December 31, Fixed Rate (unaudited) Residential mortgage loans $ 9,597,592 $ 1,916,750 Commercial real estate 3,862,500 1,228,000 Commercial and industrial 3,991,844 5,000,000 Home equity 888,000 — Total $ 18,339,936 $ 8,144,750 September 30, December 31, Variable Rate (unaudited) Residential mortgage loans $ 3,651,750 $ 1,912,000 Construction (residential) — — Home equity 209,300 750,000 Total $ 3,861,050 $ 2,662,000 Commitments to make loans are generally made for periods of 90 days or less. The fixed rate loan commitments have interest rates ranging from 3.25% to 6.00% At September 30, 2019 and December 31, 2018, undisbursed funds from approved lines of credit under a homeowners’ equity lending program amounted to approximately $40,598,165 and $38,489,682, respectively. At September 30, 2019 and December 31, 2018, undisbursed funds from approved lines of credit under a business line of credit program amounted to $423,590 and $727,696, respectively. Unless they are specifically cancelled by notice from the Bank, these funds represent firm commitments available to the respective borrowers on demand. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case The Bank leases certain Bank properties and equipment under operating leases. Rent expense was $9,629 and $9,000 for the three months ended September 30, 2019 and 2018, respectively. Rent expense was $27,839 and $27,000 for the nine months ended September 30, 2019 and 2018 , respectively.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE	NOTE 7 Fair value is 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. There are three levels of inputs that may be used to measure fair values: Level 1 Level 2 Level 3 The Bank used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: The Bank’s available-for-sale available-for-sale Assets measured at fair value on a recurring basis are summarized below: Carrying Quoted Prices in Significant Other Significant As of September 30, 2019 (unaudited) Securities available for sale: Corporate bonds $ 5,896,895 $ — $ 5,896,895 $ — MBSs - residential 6,049,738 — 6,049,738 — $ 11,946,633 $ — $ 11,946,633 $ — As of December 31, 2018 Securities available for sale: Corporate bonds $ 6,623,318 $ — $ 6,623,318 $ — MBSs - residential 6,976,488 — 6,976,488 — $ 13,599,806 $ — $ 13,599,806 $ — There were no transfers between level 1 and level 2 during the thre e and The carrying amounts and estimated fair values of financial instruments, at September 30, 2019 December 31, 2018, are as follows: Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) September 30, 2019 Financial instruments - asset s Cash and due from banks $ 7,046 $ 7,046 $ 7,046 $ — $ — Interest – bearing deposits in other 25,722 25,722 25,722 — — Investment securities held-to-maturity 52,480 52,980 — 52,980 — Loans 536,544 538,842 — — 538,842 Accrued interest receivable 1,972 1,972 305 1,667 Financial instruments - liabilities Certificates of deposit 383,170 383,630 — 383,630 — Borrowings 108,898 108,752 — 108,752 — Accrued interest payable 525 525 525 Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2018 Financial instruments - asset s Cash and due from banks $ 5,744 $ 5,744 $ 5,744 $ — $ — Interest – bearing deposits in other 18,773 18,773 18,773 — — Investment securities held-to-maturity 70,049 68,803 — 68,803 — Loans 526,670 519,261 — — 519,261 Accrues interest receivable 1,947 1,947 388 1,559 Financial instruments - liabilities Certificates of deposit 385,597 384,346 — 384,346 — Borrowings 74,639 74,450 — 74,450 — Accrued interest payable 568 568 568 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: Carrying amount is the estimated fair value for cash and cash equivalents, accrued interest receivable and payable, demand deposits, short-term debt, and variable rate loans or deposits that reprice frequently and fully. The methods for determining the fair values for securities were described previously. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. Fair value of FHLB advances is based on current rates for similar financing. It was not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability. The fair value of off-balance

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 8 The components of accumulated other comprehensive loss included in equity (net of tax) as of the three and nine months ended September 30, 2019 and 2018 is as follows: Unrealized gain and losses on available for sale Benefit plans Total Three Months September 30, 2019 (unaudited) Beginning balance at July 1, 2019 $ 120,386 $ (465,052 ) $ (344,666 ) Other comprehensive gain (loss) (11,528 ) (14,442 ) (25,970 ) Amounts reclassified — — — Net period comprehensive income (11,528 ) (14,442 ) (25,970 ) Ending balance $ 108,858 $ (479,494 ) $ (370,636 ) September 30, 2018 (unaudited) Beginning balance at July 1, 2018 $ 96,689 $ (494,342 ) $ (397,653 ) Other comprehensive (loss) gain before reclassification (4,935 ) — (4,935 ) Amounts reclassified — — — Net period comprehensive income (4,935 ) — (4,935 ) Ending balance $ 91,754 $ (494,342 ) $ (402,588 ) Unrealized gain and losses on available for sale Benefit plans Total Nine months September 30, 2019 (unaudited) Beginning balance at January 1, 2019 $ 50,561 $ (367,680 ) $ (317,119 ) Reclassification of stranded tax effects 28,659 (97,372 ) (68,713 ) Beginning balance at January 1, 2019, as adjusted 79,222 (465,052 ) (385,830 ) Other comprehensive gain (loss) 29,636 (14,442 ) 15,194 Ending balance $ 108,858 $ (479,494 ) $ (370,636 ) September (unaudited) Beginning balance at January 1, 2018 $ 144,621 $ (494,342 ) $ (349,721 ) Other comprehensive (loss) gain before reclassification (52,867 ) — (52,867 ) Amounts reclassified — — — Net period comprehensive income (52,867 ) — (52,867 ) Ending balance $ 91,754 $ (494,342 ) $ (402,588 )

PLAN OF MUTUAL HOLDING REORGANI

PLAN OF MUTUAL HOLDING REORGANIZATION AND MINORITY STOCK ISSUANCE	9 Months Ended
	Sep. 30, 2019
Plan Of Mutual Holding Reorganization And Minority Stock Issuance [Abstract]
PLAN OF MUTUAL HOLDING REORGANIZATION AND MINORITY STOCK ISSUANCE	NOTE 9 — PLAN OF MUTUAL HOLDING REORGANIZATION AND MINORITY STOCK ISSUANCE On September 9, 2019, the Board of Directors of the Bank adopted a Plan of Mutual Holding Company Reorganization and Minority Stock Issuance (the “Plan”). The Plan , must be approved by the affirmative vote of at least a majority of the total votes eligible to be cast by the voting depositors of the Bank at a special meeting. Pursuant to the Plan, the Bank proposes to reorganize into a mutual holding company form of ownership. The Bank will convert to a stock savings bank and issue all of its outstanding stock to a new holding company, which will be named Bogota Financial Corp. Pursuant to the Plan, the new holding company will sell stock to the public, with the total offering value and number of shares of common stock based upon an independent appraiser’s valuation. The stock will be priced at $10.00 per share. In addition, the Bank’s Board of Directors will adopt an employee stock ownership plan (“ESOP”), which intends purch a has been has offered The costs of the reorganization and the issuing of the common stock will be deferred and deducted from the sales proceeds of the offering. If the conversion is unsuccessful, all deferred costs will be charged to operations. As of September 30, 2019, $465,634 in reorganization costs had been incurred.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation Bogota Securities Corp. was formed on August 14, 2014 for the purpose of buying, selling and holding investment securities. Bogota Properties, LLC was inactive at September 30, 2019 and December 31, 2018. The Bank generally grants residential, commercial and consumer loans to, and accepts deposits from, customers in New Jersey. The debtors’ ability to repay the loans is dependent upon the region’s economy and the borrowers’ circumstances. The Bank is also subject to the regulations of certain federal and state agencies and undergoes periodic examination by those regulatory authorities.
Use of Estimates	Use of Estimates
Basis of Presentation	Basis of Presentation S-X The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and disclosures provided, and actual results could differ. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures necessary for the fair presentation of the accompanying consolidated financial statements have been included. .
Newly Issued, Not Yet Effective Accounting Pronouncements	Newly Issued, Not Yet Effective Accounting Pronouncements ASU 2016-01, 825-10): Liabilities. ASU 2016-01, available-for-sale. 8 In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) for the bank In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses 2016-13 the bank for 2 2022 2016-13 Adopted effective Accounting Pronouncements: 2018-02, Income Statement- Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. Existing GAAP required recognition of the tax rate change effects on the DTA revaluation as an adjustment to income tax expense. As a result the AOCI contained the stranded amounts from prior periods at the previous tax rate. ASU 2018-12 On January 1, 2019, the Bank adopted ASU 2014-09 Revenue from Contracts with Customers (Topic 606) non-interest deposits. The amendments allow for one of two transition methods: full retrospective or modified retrospective. The full retrospective approach requires application to all periods presented. The modified retrospective transition requires application to uncompleted contracts at the date of adoption. Periods prior to the date of adoption are not retrospectively revised, but a cumulative effect is recognized at the date of initial application on uncompleted contracts. The Bank adopted the new revenue guidance using the modified retrospective approach. There was no significant change upon adoption of the standard, as the new standard did not materially change the way the Bank currently records revenue and as such, no cumulative effect adjustment was recorded.

SECURITIES AVAILABLE FOR SALE (

SECURITIES AVAILABLE FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of amortized cost, fair value, and gross unrealized gains and losses of securities available for sale	The following table summarizes the amortized cost, fair value, and gross unrealized gains and losses of securities available for sale at September 30, 2019 and December 31, 2018: Amortized Gross Gross Fair September 30, 2019 (unaudited) Corporate bonds due in: One through five years $ 5,526,043 $ 28,396 $ (6,244 ) $ 5,548,195 Five through ten years 350,000 — (1,300 ) 348,700 MBSs – residential 5,919,166 130,572 — 6,049,738 Total $ 11,795,209 $ 158,968 $ (7,544 ) $ 11,946,633 Amortized Gross Gross Fair December 31, 2018 Corporate bonds due in: One through five years $ 5,311,813 $ 15,700 $ (34,519 ) $ 5,292,994 Five through ten years 1,345,749 6,865 (22,290 ) 1,330,324 MBSs – residential 6,832,048 160,222 (15,782 ) 6,976,488 Total $ 13,489,610 $ 182,787 $ (72,591 ) $ 13,599,806
Summary of debt securities available for sale and unrealized loss position	The age of unrealized losses and the fair value of related securities as of September 30, 2019 and December 31, 2018 were as follows: Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Value Unrealized Fair Value Unrealized September 30, 2019 (unaudited) Corporate bonds $ 348,700 $ (1,300 ) $ 1,003,417 $ (6,244 ) $ 1,352,117 $ (7,544 ) MBSs – residential — — — — — — Total $ 348,700 $ (1,300 ) $ 1,003,417 $ (6,244 ) $ 1,352,117 $ (7,544 ) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Value Unrealized Fair Value Unrealized December 31, 2018 Corporate bonds $ 3,968,269 $ (56,809 ) $ — $ — $ 3,968,269 $ (56,809 ) MBSs – residential 875,258 (15,782 ) — — 875,258 (15,782 ) Total $ 4,843,527 $ (72,591 ) $ — $ — $ 4,843,527 $ (72,591 )

SECURITIES HELD TO MATURITY (Ta

SECURITIES HELD TO MATURITY (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity	The following table summarizes the amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity at September 30, 2019 and December 31, 2018: Amortized Gross Gross Fair September 30, 2019 (unaudited) U.S . One through five years $ 7,449,513 $ — $ (28,413 ) $ 7,421,100 Corporate bonds due in: Five through ten years 5,436,849 159,730 — 5,596,579 Municipal obligations due in: One through five years 2,290,855 18,665 — 2,309,520 MBSs: Residential 12,381,566 121,268 (39,793 ) 12,463,041 Commercial 24,920,905 288,567 (19,866 ) 25,189,606 Total $ 52,479,688 $ 588,230 $ (88,072 ) $ 52,979,846 Amortized Gross Gross Fair December 31, 2018 U.S . One through five years $ 17,673,603 $ — $ (191,118 ) $ 17,482,485 Corporate bonds due in: Five through ten years 4,004,426 18,319 (61,593 ) 3,961,152 Municipal obligations due in: One through five years 8,135,032 — (32,581 ) 8,102,451 MBSs: Residential 14,804,434 57,105 (301,650 ) 14,559,889 Commercial 25,431,084 6,649 (740,788 ) 24,696,945 Total $ 70,048,579 $ 82,073 $ (1,327,730 ) $ 68,802,922
Summary of debt securities held to maturity and unrealized loss position	The age of unrecognized losses and the fair value of related securities were as follows: Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Value Unrecognized Fair Value Unrecognized September 30, 2019 (unaudited) U.S. Government-sponsored agencies $ — $ — $ 7,421,100 $ (28,413 ) $ 7,421,100 $ (28,413 ) MBSs – residential 2,682,615 (8,508 ) 1,622,831 (31,285 ) 4,305,446 (39,793 ) MBSs – commercial 4,022,507 (19,866 ) — — 4,022,507 (19,866 ) Total $ 6,705,122 $ (28,374 ) $ 9,043,931 $ (59,698 ) $ 15,749,053 $ (88,072 ) Less Than 12 Months 12 Months or More Total Fair Unrecognized Fair Value Unrecognized Fair Value Unrecognized December 31, 2018 U.S. Government-sponsored agencies $ 7,218,382 $ (5,891 ) $ 10,264,103 $ (185,227 ) $ 17,482,485 $ (191,118 ) Corporate bonds — — 1,438,407 (61,593 ) 1,438,407 (61,593 ) Municipal obligations 6,686,311 (10,842 ) 1,416,140 (21,739 ) 8,102,451 (32,581 ) MBSs – residential 1,289,961 (8,679 ) 10,429,486 (292,971 ) 11,719,447 (301,650 ) MBSs – commercial 1,826,592 (12,427 ) 21,257,626 (728,361 ) 23,084,218 (740,788 ) Total $ 17,021,246 $ (37,839 ) $ 44,805,762 $ (1,289,891 ) $ 61,827,008 $ (1,327,730 )

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Summary of loans receivable	Loans are summarized as follows at September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 (unaudited) Real estate: Residential $ 384,759,708 $ 376,304,160 Commercial and multi-family real estate 123,121,421 123,220,556 Construction 1,110,157 2,338,647 Commercial and industrial 2,379,584 1,267,313 Consumer: Home equity and other 27,188,882 25,515,159 Total loans 538,559,752 528,645,835 Allowance for loan losses (2,016,175 ) (1,976,175 ) Net loans $ 536,543,577 $ 526,669,660
Summary of activity in the allowance for loan losses by portfolio segment	The following table presents the activity in the allowance for loan losses by portfolio segments for the three and . Residential Commercial Construction Consumer Commercial Total Three months September 30, 2019 (unaudited) Allowance for loan losses: Beginning balance $ 1,300,675 $ 600,000 $ 12,500 $ 94,000 $ 9,000 $ 2,016,175 Provision for loan losses (credit) 37,400 (38,000 ) 500 100 — — Recoveries — — — — — — Total ending allowance balance $ 1,338,075 $ 562,000 $ 13,000 $ 94,100 $ 9,000 $ 2,016,175 September 30, 2018 (unaudited) Allowance for loan losses: Beginning balance $ 1,322,175 $ 551,000 $ 12,000 $ 91,000 $ — $ 1,976,175 Provision for loan losses (credit) 17,400 (23,900 ) 1,600 (100 ) 5,000 — Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,339,575 $ 527,100 $ 13,600 $ 90,900 $ 5,000 $ 1,976,175 Residential Commercial Construction Consumer Commercial Total Nine months September 30, 2019 (unaudited) Allowance for loan losses: Beginning balance $ 1,266,175 $ 607,000 $ 9,000 $ 89,000 $ 5,000 $ 1,976,175 Provision for loan losses (credit) 31,900 (45,000 ) 4,000 5,100 4,000 — Loans charged off — — — — — — Recoveries 40,000 — — — — 40,000 Total ending allowance balance $ 1,338,075 $ 562,000 $ 13,000 $ 94,100 $ 9,000 $ 2,016,175 September 30, 2018 (unaudited) Allowance for loan losses: Beginning balance $ 1,248,400 $ 620,775 $ 12,000 $ 95,000 $ — $ 1,976,175 Provision for loan losses (credit) 91,175 (93,675 ) 1,600 (4,100 ) 5,000 — Loans charged off — — — — — — Recoveries — — — — — — Total ending allowance balance $ 1,339,575 $ 527,100 $ 13,600 $ 90,900 $ 5,000 $ 1,976,175
Summary of allowance for loan losses and the recorded investment in loans by portfolio segments	The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segments and based on impairment method as of September 30, 2019 and December 31, 2018: Residential Commercial Construction Consumer Commercial Total September 30, 2019 (unaudited) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,338,075 562,000 13,000 94,100 9,000 2,016,175 Total ending allowance balance $ 1,338,075 $ 562,000 $ 13,000 $ 94,100 $ 9,000 $ 2,016,175 Loans: Loans individually evaluated for impairment $ 1,196,462 $ — $ — $ 41,883 $ — $ 1,238,345 Loans collectively evaluated for impairment 383,563,246 123,121,421 1,110,157 27,146,999 2,379,584 537,321,407 Total ending loan balance $ 384,759,708 $ 123,121,421 $ 1,110,157 $ 27,188,882 $ 2,379,584 $ 538,559,752 December 31, 2018 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,266,175 607,000 9,000 89,000 5,000 1,976,175 Total ending allowance balance $ 1,266,175 $ 607,000 $ 9,000 $ 89,000 $ 5,000 $ 1,976,175 Loans: Loans individually evaluated for impairment $ 1,186,317 $ — $ — $ 22,152 $ — $ 1,208,469 Loans collectively evaluated for impairment 375,117,843 123,220,556 2,338,647 25,493,007 1,267,313 527,437,366 Total ending loan balance $ 376,304,160 $ 123,220,556 $ 2,338,647 $ 25,515,159 $ 1,267,313 $ 528,645,835
Summary of impaired loans	Impaired loans as of and for the nine As of 2019 As of (unaudited) Year-end $ 1,238,345 $ 1,208,469 Year-end — — Total $ 1,238,345 $ 1,208,469 Amount of the allowance for loan losses allocated $ — $ — Average of individually impaired loans during the year 1,228,146 1,899,786
Summary of recorded investment in nonaccrual and past due	The following table presents the recorded investment in nonaccrual and loans past due 90 days or more and still on accrual by class of loans as of September 30, 2019 and December 31, 2018: Nonaccrual Loans Past September 30, 2019 (unaudited) Residential $ 515,311 $ — Commercial and multi-family — — Consumer 41,884 — Total $ 557,195 $ — December 31, 2018 Residential $ 959,232 $ — Commercial and multi-family — — Consumer 22,152 — Total $ 981,384 $ —
Summary of aging of loans receivable by portfolio segment	The following table presents the aging of the recorded investment in past due loans as of September 30, 2019 and December 31, 2018, by class of loans: 30-59 60-89 Greater Total Loans Not Total September 30, 2019 (unaudited) Residential $ — $ 119,139 $ 515,311 $ 634,450 $ 384,125,258 $ 384,759,708 Commercial and multi-family — — — — 123,121,421 123,121,421 Construction — — — — 1,110,157 1,110,157 Commercial and industrial — — — — 2,379,584 2,379,584 Consumer 19,732 — 22,152 41,884 27,146,998 27,188,882 Total $ 19,732 $ 119,139 $ 537,463 $ 676,334 $ 537,883,418 $ 538,559,752 December 31, 2018 Residential $ 388,611 $ — $ 636,612 $ 1,025,223 $ 375,278,937 $ 376,304,160 Commercial and multi-family — — — — 123,220,556 123,220,556 Construction — — — — 2,338,647 2,338,647 Commercial and industrial — — — — 1,267,313 1,267,313 Consumer — — 22,152 22,152 25,493,007 25,515,159 Total $ 388,611 $ — $ 658,764 $ 1,047,375 $ 527,598,460 $ 528,645,835
Summary of loans receivable by credit quality risk	Based on the most recent analysis performed, the risk category of loans by class is as follows: Pass Special Mention Substandard Doubtful Totals September 30, 2019 (unaudited) Residential $ 383,350,805 $ 268,566 $ 1,140,337 $ — $ 384,759,708 Commercial and multi-family 121,683,131 1,259,720 178,570 — 123,121,421 Construction 1,110,157 — — — 1,110,157 Commercial and industrial 2,379,584 — — — 2,379,584 Consumer 27,188,882 22,152 58,132 — 27,188,882 Total $ 535,632,275 $ 1,550,438 $ 1,377,039 $ — $ 538,559,752 December 31, 2018 Residential $ 375,117,843 $ 271,475 $ 914,842 $ — $ 376,304,160 Commercial and multi-family 121,756,420 1,464,136 — — 123,220,556 Construction 2,338,647 — — — 2,338,647 Commercial and industrial 1,267,313 — — — 1,267,313 Consumer 25,451,080 64,079 — — 25,515,159 Total $ 525,931,303 $ 1,799,690 $ 914,842 $ — $ 528,645,835

REGULATORY CAPITAL MATTERS (Tab

REGULATORY CAPITAL MATTERS (Tables)	9 Months Ended
	Sep. 30, 2019
Banking and Thrift [Abstract]
Summary of regulatory capital requirements and ratios	Actual and required capital amounts (in thousands) and ratios are presented below at September 30, 2019 and December 31, 2018. Actual For Capital Adequacy To Be Well Capitalized (Dollars in Thousands) Amount Ratio Amount Ratio Amount Ratio September 30, 2019 (unaudited): Total capital to risk weighted assets $ 76,520 18.47 % $ 33,142 8.00 % $ 41,428 10.00 % Tier 1 (Core) capital 74,505 17.98 24,857 6.00 33,142 8.00 Tier 1 Common Equity to risk weighted assets 74,505 17.98 18,643 4.50 26,928 6.50 Tier 1 (Core) capital to average assets 74,505 11.26 16,571 4.00 20,714 5.00 December 31, 2018: Total capital to risk weighted assets $ 74,770 18.34 % $ 32,620 8.00 % $ 40,776 10.00 % Tier 1 (Core) capital 72,794 17.85 24,465 6.00 32,620 8.00 Tier 1 Common Equity to risk weighted assets 72,794 17.85 18,349 4.50 26,504 6.50 Tier 1 (Core) capital to average assets 72,794 11.19 26,022 4.00 32,528 5.00

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Summary of outstanding firm commitments	The Bank had outstanding firm commitments, all of which expire within two months, to originate, or purchase participation interests in, loans at September 30, 2019 and December 31, 2018 is as follows: September 30, December 31, Fixed Rate (unaudited) Residential mortgage loans $ 9,597,592 $ 1,916,750 Commercial real estate 3,862,500 1,228,000 Commercial and industrial 3,991,844 5,000,000 Home equity 888,000 — Total $ 18,339,936 $ 8,144,750 September 30, December 31, Variable Rate (unaudited) Residential mortgage loans $ 3,651,750 $ 1,912,000 Construction (residential) — — Home equity 209,300 750,000 Total $ 3,861,050 $ 2,662,000

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2019
Summary of carrying amounts and estimated fair values of financial instruments	The carrying amounts and estimated fair values of financial instruments, at September 30, 2019 December 31, 2018, are as follows: Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) September 30, 2019 Financial instruments - asset s Cash and due from banks $ 7,046 $ 7,046 $ 7,046 $ — $ — Interest – bearing deposits in other 25,722 25,722 25,722 — — Investment securities held-to-maturity 52,480 52,980 — 52,980 — Loans 536,544 538,842 — — 538,842 Accrued interest receivable 1,972 1,972 305 1,667 Financial instruments - liabilities Certificates of deposit 383,170 383,630 — 383,630 — Borrowings 108,898 108,752 — 108,752 — Accrued interest payable 525 525 525 Carrying Fair Fair Value Measurement Placement Amount Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2018 Financial instruments - asset s Cash and due from banks $ 5,744 $ 5,744 $ 5,744 $ — $ — Interest – bearing deposits in other 18,773 18,773 18,773 — — Investment securities held-to-maturity 70,049 68,803 — 68,803 — Loans 526,670 519,261 — — 519,261 Accrues interest receivable 1,947 1,947 388 1,559 Financial instruments - liabilities Certificates of deposit 385,597 384,346 — 384,346 — Borrowings 74,639 74,450 — 74,450 — Accrued interest payable 568 568 568
Fair Value, Recurring
Summary of fair value, assets measured on recurring and nonrecurring basis	Assets measured at fair value on a recurring basis are summarized below: Carrying Quoted Prices in Significant Other Significant As of September 30, 2019 (unaudited) Securities available for sale: Corporate bonds $ 5,896,895 $ — $ 5,896,895 $ — MBSs - residential 6,049,738 — 6,049,738 — $ 11,946,633 $ — $ 11,946,633 $ — As of December 31, 2018 Securities available for sale: Corporate bonds $ 6,623,318 $ — $ 6,623,318 $ — MBSs - residential 6,976,488 — 6,976,488 — $ 13,599,806 $ — $ 13,599,806 $ —

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Summary of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive loss included in equity (net of tax) as of the three and nine months ended September 30, 2019 and 2018 is as follows: Unrealized gain and losses on available for sale Benefit plans Total Three Months September 30, 2019 (unaudited) Beginning balance at July 1, 2019 $ 120,386 $ (465,052 ) $ (344,666 ) Other comprehensive gain (loss) (11,528 ) (14,442 ) (25,970 ) Amounts reclassified — — — Net period comprehensive income (11,528 ) (14,442 ) (25,970 ) Ending balance $ 108,858 $ (479,494 ) $ (370,636 ) September 30, 2018 (unaudited) Beginning balance at July 1, 2018 $ 96,689 $ (494,342 ) $ (397,653 ) Other comprehensive (loss) gain before reclassification (4,935 ) — (4,935 ) Amounts reclassified — — — Net period comprehensive income (4,935 ) — (4,935 ) Ending balance $ 91,754 $ (494,342 ) $ (402,588 ) Unrealized gain and losses on available for sale Benefit plans Total Nine months September 30, 2019 (unaudited) Beginning balance at January 1, 2019 $ 50,561 $ (367,680 ) $ (317,119 ) Reclassification of stranded tax effects 28,659 (97,372 ) (68,713 ) Beginning balance at January 1, 2019, as adjusted 79,222 (465,052 ) (385,830 ) Other comprehensive gain (loss) 29,636 (14,442 ) 15,194 Ending balance $ 108,858 $ (479,494 ) $ (370,636 ) September (unaudited) Beginning balance at January 1, 2018 $ 144,621 $ (494,342 ) $ (349,721 ) Other comprehensive (loss) gain before reclassification (52,867 ) — (52,867 ) Amounts reclassified — — — Net period comprehensive income (52,867 ) — (52,867 ) Ending balance $ 91,754 $ (494,342 ) $ (402,588 )

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Detail)	Jan. 01, 2019USD ($)
Accounting Standards Update 2018-02
Reclassification between retained earnings and accumulated other comprehensive loss	$ 68,713

SECURITIES AVAILABLE FOR SALE -

SECURITIES AVAILABLE FOR SALE - Summary of amortized cost, fair value, and gross unrealized gains and losses of securities available for sale (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Amortized Cost	$ 11,795,209	$ 13,489,610
Gross Unrealized Gains	158,968	182,787
Gross Unrealized Losses	(7,544)	(72,591)
Fair Value	11,946,633	13,599,806
Corporate Debt Securities
Corporate bonds due in One through five years, Amortized Cost	5,526,043	5,311,813
Corporate bonds due in Five through ten, Amortized Cost	350,000	1,345,749
Corporate bonds due in One through five years, Gross Unrealized Gains	28,396	15,700
Corporate bonds due in Five through ten years, Gross Unrealized Gains		6,865
Corporate bonds due in One through five years, Gross Unrealized Losses	(6,244)	(34,519)
Corporate bonds due in Five through ten years, Gross Unrealized Losses	(1,300)	(22,290)
Corporate bonds due in One through five years, Fair Value	5,548,195	5,292,994
Corporate bonds due in Five through ten years, Fair Value	348,700	1,330,324
Residential Mortgage Backed Securities
Amortized Cost	5,919,166	6,832,048
Gross Unrealized Gains	130,572	160,222
Gross Unrealized Losses		(15,782)
Fair Value	$ 6,049,738	$ 6,976,488

SECURITIES AVAILABLE FOR SALE_2

SECURITIES AVAILABLE FOR SALE - Summary of debt securities available for sale and unrealized loss position (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Less Than 12 Months	$ 348,700	$ 4,843,527
Unrealized Losses, Less Than 12 Months	(1,300)	(72,591)
Fair Value, 12 Months or More	1,003,417
Unrealized Losses, 12 Months or More	(6,244)
Fair Value, Total	1,352,117	4,843,527
Unrealized Losses, Total	(7,544)	(72,591)
Corporate Debt Securities
Fair Value, Less Than 12 Months	348,700	3,968,269
Unrealized Losses, Less Than 12 Months	(1,300)	(56,809)
Fair Value, 12 Months or More	1,003,417
Unrealized Losses, 12 Months or More	(6,244)
Fair Value, Total	1,352,117	3,968,269
Unrealized Losses, Total	$ (7,544)	(56,809)
Residential Mortgage Backed Securities
Fair Value, Less Than 12 Months		875,258
Unrealized Losses, Less Than 12 Months		(15,782)
Fair Value, Total		875,258
Unrealized Losses, Total		$ (15,782)

SECURITIES AVAILABLE FOR SALE_3

SECURITIES AVAILABLE FOR SALE - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Sales of available-for-sale securities	$ 0	$ 0	$ 0	$ 0
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | Collateral Pledged
Debt securities, available-for-sale, restricted	0		0		$ 1,208,934
Interest – bearing deposits in other | Collateral Pledged
Debt securities, available-for-sale, restricted	$ 278,281		$ 278,281		$ 331,270
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Percent of MSB Issued	100.00%		100.00%		100.00%

SECURITIES HELD TO MATURITY - S

SECURITIES HELD TO MATURITY - Summary of amortized cost, fair value, and gross unrecognized gains and losses of securities held to maturity (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Amortized Cost	$ 52,479,688	$ 70,048,579
Gross Unrealized Gains	588,230	82,073
Gross Unrealized Losses	(88,072)	(1,327,730)
Fair Value	52,979,846	68,802,922
US Government-sponsored Enterprises Debt Securities
Marketable Securities [Line Items]
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	7,449,513	17,673,603
Debt Securities Held-to-maturity Maturities After One Through Five Years Accumulated Unrecognized Gain	0	0
Debt Securities Held-to-maturity Maturities After One Through Five Years Accumulated Unrecognized Loss	(28,413)	(191,118)
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	7,421,100	17,482,485
Corporate Debt Securities
Marketable Securities [Line Items]
Corporate bonds due in Five through ten years, Amortized Cost	5,436,849	4,004,426
Corporate bonds due in Five through ten years, Gross Unrealized Gains	159,730	18,319
Corporate bonds due in Five through ten years, Gross Unrealized Losses	0	(61,593)
Corporate bonds due in Five through ten years, Fair Value	5,596,579	3,961,152
US States and Political Subdivisions Debt Securities
Marketable Securities [Line Items]
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	2,290,855	8,135,032
Debt Securities Held-to-maturity Maturities After One Through Five Years Accumulated Unrecognized Gain	18,665	0
Debt Securities Held-to-maturity Maturities After One Through Five Years Accumulated Unrecognized Loss	0	(32,581)
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	2,309,520	8,102,451
Residential Mortgage Backed Securities
Marketable Securities [Line Items]
Amortized Cost	12,381,566	14,804,434
Gross Unrealized Gains	121,268	57,105
Gross Unrealized Losses	(39,793)	(301,650)
Fair Value	12,463,041	14,559,889
Commercial Mortgage Backed Securities
Marketable Securities [Line Items]
Amortized Cost	24,920,905	25,431,084
Gross Unrealized Gains	288,567	6,649
Gross Unrealized Losses	(19,866)	(740,788)
Fair Value	$ 25,189,606	$ 24,696,945

SECURITIES HELD TO MATURITY -

SECURITIES HELD TO MATURITY - Summary of debt securities held to maturity and unrealized loss position (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	$ 6,705,122	$ 17,021,246
Unrealized Losses, Less Than 12 Months	(28,374)	(37,839)
Fair Value, 12 Months or More	9,043,931	44,805,762
Unrealized Losses, 12 Months or More	(59,698)	(1,289,891)
Fair Value, Total	15,749,053	61,827,008
Unrealized Losses, Total	(88,072)	(1,327,730)
U.S. Government-sponsored agencies [Member]
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	0	7,218,382
Unrealized Losses, Less Than 12 Months	0	(5,891)
Fair Value, 12 Months or More	7,421,100	10,264,103
Unrealized Losses, 12 Months or More	(28,413)	(185,227)
Fair Value, Total	7,421,100	17,482,485
Unrealized Losses, Total	(28,413)	(191,118)
Corporate bonds
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months		0
Unrealized Losses, Less Than 12 Months		0
Fair Value, 12 Months or More		1,438,407
Unrealized Losses, 12 Months or More		(61,593)
Fair Value, Total		1,438,407
Unrealized Losses, Total		(61,593)
Municipal obligations
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months		6,686,311
Unrealized Losses, Less Than 12 Months		(10,842)
Fair Value, 12 Months or More		1,416,140
Unrealized Losses, 12 Months or More		(21,739)
Fair Value, Total		8,102,451
Unrealized Losses, Total		(32,581)
MBSs – residential
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	2,682,615	1,289,961
Unrealized Losses, Less Than 12 Months	(8,508)	(8,679)
Fair Value, 12 Months or More	1,622,831	10,429,486
Unrealized Losses, 12 Months or More	(31,285)	(292,971)
Fair Value, Total	4,305,446	11,719,447
Unrealized Losses, Total	(39,793)	(301,650)
MBSs – commercial
Marketable Securities [Line Items]
Fair Value, Less Than 12 Months	4,022,507	1,826,592
Unrealized Losses, Less Than 12 Months	(19,866)	(12,427)
Fair Value, 12 Months or More	0	21,257,626
Unrealized Losses, 12 Months or More	0	(728,361)
Fair Value, Total	4,022,507	23,084,218
Unrealized Losses, Total	$ (19,866)	$ (740,788)

SECURITIES HELD TO MATURITY - A

SECURITIES HELD TO MATURITY - Additional Information (Detail) - Collateral Pledged - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Federal Funds Purchased and Securities Sold under Agreements to Repurchase
Debt securities, held to maturity, restricted	$ 14,596,888	$ 23,058,995
Interest-bearing Deposits
Debt securities, held to maturity, restricted	$ 4,098,846	$ 23,789,123

LOANS - Summary of loans receiv

LOANS - Summary of loans receivable (Detail) - USD ($)	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Past Due [Line Items]
Total loans	$ 538,559,752		$ 528,645,835
Allowance for loan losses	(2,016,175)	$ (2,016,175)	(1,976,175)	$ (1,976,175)	$ (1,976,175)	$ (1,976,175)
Net loans	536,543,577		526,669,660
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	2,379,584		1,267,313
Allowance for loan losses	(9,000)	(9,000)	(5,000)	(5,000)
Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	384,759,708		376,304,160
Allowance for loan losses	(1,338,075)	(1,300,675)	(1,266,175)	(1,339,575)	(1,322,175)	(1,248,400)
Commercial and multi-family real estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	123,121,421		123,220,556
Allowance for loan losses	(562,000)	(600,000)	(607,000)	(527,100)	(551,000)	(620,775)
Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	1,110,157		2,338,647
Allowance for loan losses	(13,000)	(12,500)	(9,000)	(13,600)	(12,000)	(12,000)
Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total loans	27,188,882		25,515,159
Allowance for loan losses	$ (94,100)	$ (94,000)	$ (89,000)	$ (90,900)	$ (91,000)	$ (95,000)

LOANS - Summary of activity in

LOANS - Summary of activity in the allowance for loan losses by portfolio segment (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Financing Receivable, Past Due [Line Items]
Beginning balance	$ 2,016,175	$ 1,976,175	$ 1,976,175	$ 1,976,175
Provision for loan losses (credit)
Recoveries			40,000
Ending balance	2,016,175	1,976,175	2,016,175	1,976,175
Commercial Real Estate Portfolio Segment | Residential First Mortgage
Financing Receivable, Past Due [Line Items]
Beginning balance	1,300,675	1,322,175	1,266,175	1,248,400
Provision for loan losses (credit)	37,400	17,400	31,900	91,175
Recoveries			40,000
Ending balance	1,338,075	1,339,575	1,338,075	1,339,575
Commercial Real Estate Portfolio Segment | Commercial and Multi- Family Real Estate
Financing Receivable, Past Due [Line Items]
Beginning balance	600,000	551,000	607,000	620,775
Provision for loan losses (credit)	(38,000)	(23,900)	(45,000)	(93,675)
Ending balance	562,000	527,100	562,000	527,100
Commercial Real Estate Portfolio Segment | Construction
Financing Receivable, Past Due [Line Items]
Beginning balance	12,500	12,000	9,000	12,000
Provision for loan losses (credit)	500	1,600	4,000	1,600
Ending balance	13,000	13,600	13,000	13,600
Consumer Portfolio Segment | Home equity and other
Financing Receivable, Past Due [Line Items]
Beginning balance	94,000	91,000	89,000	95,000
Provision for loan losses (credit)	100	(100)	5,100	(4,100)
Ending balance	94,100	90,900	94,100	90,900
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Beginning balance	9,000		5,000
Provision for loan losses (credit)		5,000	4,000	5,000
Ending balance	$ 9,000	$ 5,000	$ 9,000	$ 5,000

LOANS - Summary of allowance f

LOANS - Summary of allowance for loan losses and the recorded investment in loans by portfolio segments (Detail) - USD ($)	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	$ 2,016,175		$ 1,976,175
Total ending allowance balance	2,016,175	$ 2,016,175	1,976,175	$ 1,976,175	$ 1,976,175	$ 1,976,175
Loans individually evaluated for impairment	1,238,345		1,208,469
Loans collectively evaluated for impairment	537,321,407		527,437,366
Total ending loan balance	538,559,752		528,645,835
Commercial Real Estate Portfolio Segment | Residential First Mortgage
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	1,338,075		1,266,175
Total ending allowance balance	1,338,075	1,300,675	1,266,175	1,339,575	1,322,175	1,248,400
Loans individually evaluated for impairment	1,196,462		1,186,317
Loans collectively evaluated for impairment	383,563,246		375,117,843
Total ending loan balance	384,759,708		376,304,160
Commercial Real Estate Portfolio Segment | Commercial and Multi- Family Real Estate
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	562,000		607,000
Total ending allowance balance	562,000	600,000	607,000	527,100	551,000	620,775
Loans collectively evaluated for impairment	123,121,421		123,220,556
Total ending loan balance	123,121,421		123,220,556
Commercial Real Estate Portfolio Segment | Construction
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	13,000		9,000
Total ending allowance balance	13,000	12,500	9,000	13,600	12,000	12,000
Loans collectively evaluated for impairment	1,110,157		2,338,647
Total ending loan balance	1,110,157		2,338,647
Consumer Portfolio Segment | Home equity and other
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	94,100		89,000
Total ending allowance balance	94,100	94,000	89,000	90,900	$ 91,000	$ 95,000
Loans individually evaluated for impairment	41,883		22,152
Loans collectively evaluated for impairment	27,146,999		25,493,007
Total ending loan balance	27,188,882		25,515,159
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Collectively evaluated for impairment	9,000		5,000
Total ending allowance balance	9,000	$ 9,000	5,000	$ 5,000
Loans collectively evaluated for impairment	2,379,584		1,267,313
Total ending loan balance	$ 2,379,584		$ 1,267,313

LOANS - Summary of impaired loa

LOANS - Summary of impaired loans (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Year-end loans with no related allowance recorded	$ 1,238,345	$ 1,208,469
Total	1,238,345	1,208,469
Average of individually impaired loans during the year	$ 1,228,146	$ 1,899,786

LOANS - Summary of recorded inv

LOANS - Summary of recorded investment in non-accrual and past due (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 557,195	$ 981,384
Commercial Real Estate Portfolio Segment | Residential
Financing Receivable, Past Due [Line Items]
Nonaccrual	515,311	959,232
Consumer Portfolio Segment | Home equity and other
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 41,884	$ 22,152

LOANS - Summary of aging of loa

LOANS - Summary of aging of loans receivable by portfolio segment (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Loans Past Due	$ 676,334	$ 1,047,375
Loans Not Past Due	537,883,418	527,598,460
Total	538,559,752	528,645,835
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	2,379,584	1,267,313
Total	2,379,584	1,267,313
Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due	634,450	1,025,223
Loans Not Past Due	384,125,258	375,278,937
Total	384,759,708	376,304,160
Commercial and multi-family real estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	123,121,421	123,220,556
Total	123,121,421	123,220,556
Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Not Past Due	1,110,157	2,338,647
Total	1,110,157	2,338,647
Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due	41,884	22,152
Loans Not Past Due	27,146,998	25,493,007
Total	27,188,882	25,515,159
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Past Due	19,732	388,611
30-59 Days Past Due | Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due		388,611
30-59 Days Past Due | Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due	19,732
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Past Due	119,139
60-89 Days Past Due | Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due	119,139
Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Past Due	537,463	658,764
Greater than 89 Days Past Due | Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due	515,311	636,612
Greater than 89 Days Past Due | Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Loans Past Due	$ 22,152	$ 22,152

LOANS - Summary of loans rece_2

LOANS - Summary of loans receivable by credit quality risk (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Total	$ 538,559,752	$ 528,645,835
Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	2,379,584	1,267,313
Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	384,759,708	376,304,160
Commercial and multi-family real estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	123,121,421	123,220,556
Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	1,110,157	2,338,647
Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	27,188,882	25,515,159
Pass
Financing Receivable, Past Due [Line Items]
Total	535,632,275	525,931,303
Pass | Commercial Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	2,379,584	1,267,313
Pass | Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	383,350,805	375,117,843
Pass | Commercial and multi-family real estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	121,683,131	121,756,420
Pass | Construction | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	1,110,157	2,338,647
Pass | Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	27,188,882	25,451,080
Special Mention
Financing Receivable, Past Due [Line Items]
Total	1,550,438	1,799,690
Special Mention | Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	268,566	271,475
Special Mention | Commercial and multi-family real estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	1,259,720	1,464,136
Special Mention | Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	22,152	64,079
Substandard
Financing Receivable, Past Due [Line Items]
Total	1,377,039	914,842
Substandard | Residential | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	1,140,337	$ 914,842
Substandard | Commercial and multi-family real estate | Commercial Real Estate Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	178,570
Substandard | Home equity and other | Consumer Portfolio Segment
Financing Receivable, Past Due [Line Items]
Total	$ 58,132

LOANS - Additional Information

LOANS - Additional Information (Detail)	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)Loan	Sep. 30, 2018Loan	Dec. 31, 2018USD ($)Loan
Financing Receivable, Past Due [Line Items]
Loans receivable from related parties | $	$ 787,420		$ 809,956
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts	4		4
Commercial Real Estate Portfolio Segment | Residential
Financing Receivable, Past Due [Line Items]
Troubled debt restructured loans | $	$ 995,751		$ 1,020,987
Number of troubled debt restructured loans	5		5
Financing Receivable, Modifications, Number of Contracts	0	0

REGULATORY CAPITAL MATTERS - Su

REGULATORY CAPITAL MATTERS - Summary of required capital amounts (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Banking and Thrift [Abstract]
Total capital to risk weighted assets, Actual Amount	$ 76,520	$ 74,770
Tier 1 (Core) capital, Actual Amount	74,505	72,794
Tier 1 Common Equity to risk weighted assets, Actual Amount	74,505	72,794
Tier 1 (Core) capital to average assets, Actual Amount	$ 74,505	$ 72,794
Total capital to risk weighted assets, Actual Ratio	18.47%	18.34%
Tier 1 (Core) capital, Actual Ratio	17.98%	17.85%
Tier 1 Common Equity to risk weighted assets, Actual Ratio	17.98%	17.85%
Tier 1 (Core) capital to average assets, Actual Ratio	11.26%	11.19%
Total capital to risk weighted assets, For Capital Adequacy Purposes Amount	$ 33,142	$ 32,620
Tier 1 (Core) capital, For Capital Adequacy Purposes Amount	24,857	24,465
Tier 1 Common Equity to risk weighted assets, For Capital Adequacy Purposes Amount	18,643	18,349
Tier 1 (Core) capital to average assets, For Capital Adequacy Purposes Amount	$ 16,571	$ 26,022
Total capital to risk weighted assets, For Capital Adequacy Purposes Ratio	8.00%	8.00%
Tier 1 (Core) capital, For Capital Adequacy Purposes Ratio	6.00%	6.00%
Tier 1 Common Equity to risk weighted assets, For Capital Adequacy Purposes Ratio	4.50%	4.50%
Tier 1 (Core) capital to average assets, For Capital Adequacy Purposes Ratio	4.00%	4.00%
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 41,428	$ 40,776
Tier 1 (Core) capital, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	33,142	32,620
Tier 1 Common Equity to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	26,928	26,504
Tier 1 (Core) capital to average assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 20,714	$ 32,528
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	10.00%	10.00%
Tier 1 (Core) capital, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	8.00%	8.00%
Tier 1 Common Equity to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	6.50%	6.50%
Tier 1 (Core) capital to average assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	5.00%	5.00%

REGULATORY CAPITAL MATTERS - Ad

REGULATORY CAPITAL MATTERS - Additional Information (Detail)	Sep. 30, 2019	Dec. 31, 2018
Tier 1 Common equity to risk weighted assets	6.50%	6.50%
Tier 1 capital to risk weighted assets	8.00%	8.00%
Total capital to risk weighted assets	10.00%	10.00%
Percentage of capital buffer	2.50%	1.875%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fixed Rate
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	$ 18,339,936	$ 8,144,750
Fixed Rate | Residential mortgage loans
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	9,597,592	1,916,750
Fixed Rate | Commercial real estate
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	3,862,500	1,228,000
Fixed Rate | Commercial and industrial
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	3,991,844	5,000,000
Fixed Rate | Home equity
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	888,000
Variable Rate
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	3,861,050	2,662,000
Variable Rate | Residential mortgage loans
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	3,651,750	1,912,000
Variable Rate | Home equity
Commitments and contingencies [Line Items]
Fair Value, Concentration of Risk, Commitments	$ 209,300	$ 750,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Commitments and contingencies [Line Items]
Operating leases, rent expense	$ 9,629	$ 9,000	$ 27,839	$ 27,000
Home Equity Loan
Commitments and contingencies [Line Items]
Undisbursed loan funds	40,598,165		40,598,165		$ 38,489,682
Business Line Of Credit
Commitments and contingencies [Line Items]
Undisbursed loan funds	$ 423,590		$ 423,590		$ 727,696
Minimum
Commitments and contingencies [Line Items]
Interest rate	3.25%		3.25%
Maturity term			10 years
Maximum
Commitments and contingencies [Line Items]
Interest rate	6.00%		6.00%
Maturity term			30 years

FAIR VALUE - Summary of assets

FAIR VALUE - Summary of assets measured at fair value on a recurring basis (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	$ 11,946,633	$ 13,599,806
MBSs - residential
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	6,049,738	6,976,488
Fair Value, Recurring Basis | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	11,946,633	13,599,806
Fair Value, Recurring Basis | Significant Other Observable Inputs (Level 2) | Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	5,896,895	6,623,318
Fair Value, Recurring Basis | Significant Other Observable Inputs (Level 2) | MBSs - residential
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	6,049,738	6,976,488
Fair Value, Recurring Basis | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	11,946,633	13,599,806
Fair Value, Recurring Basis | Carrying Value | Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	5,896,895	6,623,318
Fair Value, Recurring Basis | Carrying Value | MBSs - residential
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale	$ 6,049,738	$ 6,976,488

FAIR VALUE - Summary of carryin

FAIR VALUE - Summary of carrying amounts and estimated fair values of financial instruments (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Financial instruments - assets
Investment securities held-to-maturity	$ 52,979,846	$ 68,802,922
Loans	538,842,000	519,261,000
Accrued interest receivable	1,972,360	1,946,768
Financial instruments - liabilities
Certificates of deposit	383,630,000	384,346,000
Borrowings	108,752,000	74,450,000
Accrued interest payable	525,000	568,000
Fair Value Measurement Placement (Level 2)
Financial instruments - assets
Investment securities held-to-maturity	52,980,000	68,803,000
Accrued interest receivable	305,000	388,000
Financial instruments - liabilities
Certificates of deposit	383,630,000	384,346,000
Borrowings	108,752,000	74,450,000
Accrued interest payable	525,000	568,000
Fair Value Measurement Placement (Level 3)
Financial instruments - assets
Loans	538,842,000	519,261,000
Accrued interest receivable	1,667,000	1,559,000
Carrying Value
Financial instruments - assets
Investment securities held-to-maturity	52,480,000	70,049,000
Loans	536,544,000	526,670,000
Accrued interest receivable	1,972,000	1,947,000
Financial instruments - liabilities
Certificates of deposit	383,170,000	385,597,000
Borrowings	108,898,000	74,639,000
Accrued interest payable	525,000	568,000
Cash and due from banks
Financial instruments - assets
Cash and cash equivalents, fair value disclosure	7,046,000	5,744,000
Cash and due from banks | Fair Value Measurement Placement (Level 1)
Financial instruments - assets
Cash and cash equivalents, fair value disclosure	7,046,000	5,744,000
Cash and due from banks | Carrying Value
Financial instruments - assets
Cash and cash equivalents, fair value disclosure	7,046,000	5,744,000
Interest – bearing deposits in other
Financial instruments - assets
Cash and cash equivalents, fair value disclosure	25,722,000	18,773,000
Interest – bearing deposits in other | Fair Value Measurement Placement (Level 1)
Financial instruments - assets
Cash and cash equivalents, fair value disclosure	25,722,000	18,773,000
Interest – bearing deposits in other | Carrying Value
Financial instruments - assets
Cash and cash equivalents, fair value disclosure	$ 25,722,000	$ 18,773,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of accumulated other comprehensive income (loss) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 73,489,023	$ 70,609,636	$ 72,477,768	$ 68,308,489
Net period comprehensive income	645,046	933,988	1,656,299	3,235,135
Ending balance	74,134,067	71,543,623	74,134,067	71,543,623
Unrealized gain and losses on available for sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	120,386	96,689	50,561	144,621
Reclassification of stranded tax effects			28,659
Beginning balance at January 1, 2019, as adjusted			79,222
Other comprehensive gain (loss)	(11,528)		29,636
Other comprehensive (loss) gain before reclassification		(4,935)		(52,867)
Net period comprehensive income	(11,528)	(4,935)		(52,867)
Ending balance	108,858	91,754	108,858	91,754
Benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(465,052)	(494,342)	(367,680)	(494,342)
Reclassification of stranded tax effects			(97,372)
Beginning balance at January 1, 2019, as adjusted			(465,052)
Other comprehensive gain (loss)	(14,442)		(14,442)
Net period comprehensive income	(14,442)
Ending balance	(479,494)	(494,342)	(479,494)	(494,342)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(344,666)	(397,653)	(317,119)	(349,721)
Reclassification of stranded tax effects			(68,713)
Beginning balance at January 1, 2019, as adjusted			(385,830)
Other comprehensive gain (loss)	(25,970)		15,194
Other comprehensive (loss) gain before reclassification		(4,935)		(52,867)
Net period comprehensive income	(25,970)	(4,935)		(52,867)
Ending balance	$ (370,636)	$ (402,588)	$ (370,636)	$ (402,588)

PLAN OF MUTUAL HOLDING REORGA_2

PLAN OF MUTUAL HOLDING REORGANIZATION AND MINORITY STOCK ISSUANCE - Additional Information (Detail) - USD ($)	Sep. 09, 2019	Sep. 30, 2019
Stock price per share	$ 10
ESOP subscription percentage	3.92%
Equity investment ownership percentage by Parent	55.00%
Depositors
Equity investment ownership percentage by depositors	45.00%
Facility Closing
Reorganization costs		$ 465,634