Affinity Bancshares (AFBI) 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Trading Symbol	AFBI
Entity Registrant Name	Affinity Bancshares, Inc.
Entity Central Index Key	0001823406
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		6,634,189
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-39914
Entity Tax Identification Number	82-1147778
Entity Address, Address Line One	3175 Highway 278
Entity Address, City or Town	Covington
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30014
City Area Code	770
Local Phone Number	786-7088
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Incorporation, State or Country Code	MD
Document Quarterly Report	true
Document Transition Report	false
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 6,887	$ 16,239
Interest-earning deposits in other depository institutions	33,619	95,537
Cash and cash equivalents	40,506	111,776
Investment securities available-for-sale	41,878	48,557
Other investments	1,025	2,476
Loans, net	641,062	575,825
Other real estate owned	3,538	3,538
Premises and equipment, net	4,069	3,783
Bank owned life insurance	15,637	15,377
Intangible assets	18,606	18,749
Other assets	10,069	8,007
Total assets	776,390	788,088
Liabilities:
Non-interest-bearing checking	204,781	193,940
Interest-bearing checking	93,235	91,387
Market rate checking	160,377	145,969
Savings accounts	88,840	86,745
Certificates of deposit	98,784	96,758
Total deposits	646,017	614,799
Federal Home Loan Bank advances	10,000	48,988
Accrued interest payable and other liabilities	5,152	3,333
Total liabilities	661,169	667,120
Stockholders' equity:
Preferred stock (10,000,000 shares authorized, no shares outstanding at September 30, 2022 and December 31, 2021)
Common stock (par value $0.01 per share, 40,000,000 shares authorized; 6,634,885 issued and outstanding at September 30, 2022 and 6,872,634 issued and outstanding at December 31, 2021)	66	69
Additional paid in capital	63,288	68,038
Unearned ESOP shares	(4,847)	(5,004)
Retained earnings	63,658	58,223
Accumulated other comprehensive loss	(6,944)	(358)
Total stockholders' equity	115,221	120,968
Total liabilities and stockholders' equity	$ 776,390	$ 788,088

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	6,634,885	6,872,634
Common stock, shares outstanding	6,634,885	6,872,634
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income:
Loans, including fees		$ 7,734,000	$ 7,332,000	$ 22,013,000	$ 24,424,000
Investment securities		301,000	237,000	857,000	529,000
Interest-earning deposits		189,000	53,000	286,000	134,000
Total interest income		8,224,000	7,622,000	23,156,000	25,087,000
Interest expense:
Deposits		625,000	629,000	1,612,000	2,110,000
Borrowings		73,000	132,000	(874,000)	365,000
Total interest expense		698,000	761,000	738,000	2,475,000
Net interest income before provision for loan losses		7,526,000	6,861,000	22,418,000	22,612,000
Provision for loan losses		187,000	225,000	654,000	975,000
Net interest income after provision for loan losses		7,339,000	6,636,000	21,764,000	21,637,000
Noninterest income:
Service charges on deposit accounts		420,000	416,000	1,205,000	1,126,000
Other		173,000	355,000	631,000	980,000
Total noninterest income		593,000	771,000	1,836,000	2,106,000
Noninterest expenses:
Salaries and employee benefits		3,187,000	2,777,000	9,219,000	7,797,000
Occupancy		675,000	633,000	1,798,000	2,329,000
Advertising		128,000	116,000	326,000	296,000
Data processing		486,000	520,000	1,476,000	1,518,000
Writedown of premises and equipment			14,000		888,000
FHLB prepayment penalties				647,000
Other		1,014,000	967,000	3,019,000	2,764,000
Total noninterest expenses		5,490,000	5,027,000	16,485,000	15,592,000
Income before income taxes		2,442,000	2,380,000	7,115,000	8,151,000
Income tax expense		581,000	575,000	1,680,000	1,896,000
Net income		$ 1,861,000	$ 1,805,000	$ 5,435,000	$ 6,255,000
Weighted average common shares outstanding
Basic		6,652,811	6,872,634	6,683,052	6,931,128
Diluted		6,752,152	6,965,636	6,782,393	7,024,130
Basic earnings per share		$ 0.28	$ 0.26	$ 0.81	$ 0.90
Diluted earnings per share	[1]	$ 0.27	$ 0.26	$ 0.80	$ 0.89
[1] Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year-to-date earnings per share data.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,861	$ 1,805	$ 5,435	$ 6,255
Other comprehensive (loss) income:
Net unrealized (loss) gain on available-for-sale securities, net of taxes of $(629), $29, $(2,230) and $(96)	(1,855)	82	(6,586)	(273)
Total other comprehensive (loss) income	(1,855)	82	(6,586)	(273)
Total comprehensive (loss) income	$ 6	$ 1,887	$ (1,151)	$ 5,982

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive (Loss) Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net unrealized (loss) gain on available-for-sale securities, tax	$ (629)	$ 29	$ (2,230)	$ (96)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock	[1]	Additional Paid In Capital	Treasury Stock	Unearned ESOP Shares	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2020	$ 80,785	$ 69		$ 33,628	$ (1,268)	$ (2,453)	$ 50,650	$ 159
ESOP loan payment and release of ESOP shares	57			5		52
Stock-based compensation expense	110			110
Change in unrealized gain (loss) on investment securities available- for-sale	(278)							(278)
Issuance of common stock (less stock offering expenses of $1,699)	32,448			32,448
Issuance of shares and loan to ESOP				2,961		(2,961)
Treasury stock retired				(1,268)	1,268
Net income	2,132						2,132
Ending balance at Mar. 31, 2021	115,254	69		67,884		(5,362)	52,782	(119)
Beginning balance at Dec. 31, 2020	80,785	69		33,628	$ (1,268)	(2,453)	50,650	159
Net income	6,255
Ending balance at Sep. 30, 2021	119,703	69		67,899		(5,056)	56,905	(114)
Beginning balance at Mar. 31, 2021	115,254	69		67,884		(5,362)	52,782	(119)
ESOP loan payment and release of ESOP shares	65			13		52
Stock-based compensation expense	75			75
Change in unrealized gain (loss) on investment securities available- for-sale	(77)							(77)
Net income	2,318						2,318
Ending balance at Jun. 30, 2021	117,635	69		67,972		(5,310)	55,100	(196)
ESOP loan payment and release of ESOP shares	71			(183)		254
Stock-based compensation expense	110			110
Change in unrealized gain (loss) on investment securities available- for-sale	82							82
Net income	1,805						1,805
Ending balance at Sep. 30, 2021	119,703	69		67,899		(5,056)	56,905	(114)
Beginning balance at Dec. 31, 2021	120,968	69		68,038		(5,004)	58,223	(358)
ESOP loan payment and release of ESOP shares	81			29		52
Stock-based compensation expense	113			113
Change in unrealized gain (loss) on investment securities available- for-sale	(2,653)							(2,653)
Common stock repurchase	(3,942)	(3)		(3,939)
Net income	1,791						1,791
Ending balance at Mar. 31, 2022	116,358	66		64,241		(4,952)	60,014	(3,011)
Beginning balance at Dec. 31, 2021	120,968	69		68,038		(5,004)	58,223	(358)
Net income	5,435
Ending balance at Sep. 30, 2022	115,221	66		63,288		(4,847)	63,658	(6,944)
Beginning balance at Mar. 31, 2022	116,358	66		64,241		(4,952)	60,014	(3,011)
ESOP loan payment and release of ESOP shares	79			26		53
Stock-based compensation expense	66			66
Change in unrealized gain (loss) on investment securities available- for-sale	(2,078)							(2,078)
Common stock repurchase	(837)	(1)		(836)
Net income	1,783						1,783
Ending balance at Jun. 30, 2022	115,371	65		63,497		(4,899)	61,797	(5,089)
ESOP loan payment and release of ESOP shares	77			25		52
Issuance of restricted stock awards	78	1		77
Stock-based compensation expense	203			203
Change in unrealized gain (loss) on investment securities available- for-sale	(1,855)							(1,855)
Common stock repurchase	(514)			(514)
Net income	1,861						1,861
Ending balance at Sep. 30, 2022	$ 115,221	$ 66		$ 63,288		$ (4,847)	$ 63,658	$ (6,944)
[1] Amounts concerning shares related to periods prior to the date of the Conversion (January 20, 2021) have been restated to give the retroactive recognition to the exchange ratio applied in the Conversion ( 0.90686 -to-one).

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Statement of Stockholders' Equity [Abstract]
Stock offering expense	$ 1,699	[1]
[1] Amounts concerning shares related to periods prior to the date of the Conversion (January 20, 2021) have been restated to give the retroactive recognition to the exchange ratio applied in the Conversion ( 0.90686 -to-one).

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net income		$ 5,435	$ 6,255
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and (accretion) amortization		(329)	527
Stock-based compensation expense		460	295
Provision for loan losses		654	975	$ 1,075
ESOP expense		237	193
Net gain on sale and writedown of other real estate owned			(127)
Increase in cash surrender value of bank owned life insurance		(260)	(274)
Loss on writedown of premises and equipment	$ 14		888
Change in:
Accrued interest receivable and other assets		168	3,119
Accrued interest payable and other liabilities		1,850	1,302
Net cash provided by operating activities		8,215	13,153
Cash flows from investing activities:
Purchases of investment securities available-for-sale		(5,701)	(23,674)
Purchases of premises and equipment		(930)	(577)
Proceeds from paydowns of investment securities available-for-sale		3,428	3,102
Purchases of other investments		(1,130)	(1,412)
Proceeds from sales of other investments		2,581	533
Proceeds from bank owned life insurance death claim			300
Net change in loans		(65,665)	28,090
Proceeds from sales of other real estate owned			1,420
Net cash (used in) provided by investing activities		(67,417)	7,782
Cash flows from financing activities:
Net change in deposits		31,225	(24,913)
Stock repurchase		(5,293)
Proceeds from FHLB advances		105,000	35,000
Repayment of FHLB advances		(143,000)	(5,000)
Repayment of PPPLF borrowings			(100,813)
Repayment of holding company loan			(5,000)
Proceeds from stock offering			37,108
Stock offering expenses			(1,699)
Funding of ESOP			(2,961)
Net cash used in financing activities		(12,068)	(68,278)
Net change in cash and cash equivalents		(71,270)	(47,343)
Cash and cash equivalents at beginning of period		111,776	178,253	178,253
Cash and cash equivalents at end of period	$ 130,910	40,506	130,910	$ 111,776
Supplemental disclosures of cash flow information:
Cash paid for income taxes		1,019	2,405
Cash paid for interest		$ 1,788	$ 2,552

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Nature of Operations	(1) Nature of Operations Affinity Bancshares, Inc. (the “Company”) is a savings and loan holding company headquartered in Covington, Georgia. The Company has one operating subsidiary, Affinity Bank (the “Bank”, and formerly named “Newton Federal Bank”), a federally chartered savings association, conducting banking activities primarily in Newton County, Georgia and surrounding counties and in Cobb and Fulton Counties, Georgia and surrounding counties, and originating dental practice loans and indirect automobile loans throughout the Southeastern United States. The Bank offers such customary banking services as consumer and commercial checking accounts, savings accounts, certificates of deposit, mortgage, commercial and consumer loans, including indirect automobile loans, money transfers and a variety of other banking services. The Company was incorporated in September 2020 to be the successor corporation to Community First Bancshares, Inc., a federal corporation, upon completion of the second-step mutual-to-stock conversion (the “Conversion”) of Community First Bancshares, MHC, the top tier mutual holding company of Community First Bancshares, Inc. Community First Bancshares, Inc. was the former mid-tier holding company for the Bank (formerly named Newton Federal Bank). Prior to completion of the Conversion, approximately 54 % of the shares of common stock of Community First Bancshares, Inc. were owned by Community First Bancshares, MHC. In conjunction with the Conversion, Community First Bancshares, Inc. was merged into Affinity Bancshares, Inc. (and ceased to exist) and Affinity Bancshares, Inc. became its successor holding company for Newton Federal Bank. Reorganization On January 20, 2021, the Company completed the Conversion of Community First Bancshares, MHC, the top tier mutual holding company of Community First Bancshares, Inc. Community First Bancshares, Inc. was the former mid-tier holding company for Affinity Bank (formerly named Newton Federal Bank). Prior to completion of the Conversion, approximately 54 % of the shares of common stock of Community First Bancshares, Inc. were owned by Community First Bancshares, MHC. In conjunction with the Conversion, Community First Bancshares, Inc. was merged into Affinity Bancshares, Inc. (and ceased to exist) and Affinity Bancshares, Inc. became its successor holding company for Newton Federal Bank. As part of the Conversion, on January 20, 2021, the Company raised gross proceeds of $ 37.1 million by selling a total of 3,701,509 shares of common stock at $ 10.00 per share in a stock offering. The Company utilized $ 3.0 million of the proceeds to fund an addition to its Employee Stock Ownership Plan (“ESOP”) loan for the acquisition of additional shares at $ 10.00 per share. Expenses incurred related to the offering were $ 1.7 million and have been recorded against offering proceeds. The Company invested $ 16.3 million of the net proceeds it received from the sale into the Bank’s operations and has retained the remaining amount for general corporate purposes. Concurrent with the completion of the stock offering, each share of Community First Bancshares, Inc. common stock owned by public stockholders (stockholders other than Community First Bancshares, MHC) was exchanged for 0.90686 shares of Company common stock. All share amounts have been adjusted for the conversion, including outstanding restricted stock and stock options. Basis of Presentation The accompanying unaudited consolidated financial statements and notes thereto contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly, in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the financial position of the Company as of September 30, 2022 and the results of its operations and its cash flows for the periods presented. The interim consolidated financial information should be read in conjunction with the audited financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The results of operations for the three months and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for a full year or for any other period. Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of acquired loans, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income. Summary of Significant Accounting Policies – The accounting and reporting policies of the Company conform to GAAP and general practices within the banking industry. There have been no material changes or developments in the application of principles or in our evaluation of the accounting estimates and the underlying assumptions or methodologies that we believe to be Critical Accounting Policies as disclosed in the Company’s financial statements for the year ended December 31, 2021 included in the Company’s Form 10-K. Earnings per Share Basic earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of shares adjusted for the dilutive effect of common stock awards (outstanding stock options), if any. Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands except per share data) Net income $ 1,861 $ 1,805 $ 5,435 $ 6,255 Weighted average common shares outstanding 6,652,811 6,872,634 6,683,052 6,931,128 Effect of dilutive common stock awards 99,341 93,002 99,341 93,002 Diluted weighted average common shares outstanding 6,752,152 6,965,636 6,782,393 7,024,130 Basic earnings per common share $ 0.28 $ 0.26 $ 0.81 $ 0.90 Diluted earnings per common share* $ 0.27 $ 0.26 $ 0.80 $ 0.89 * Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year-to-date earnings per share data. There were 234,954 anti-dilutive options for the three months and nine months ended September 30, 2022 and there were no anti-dilutive options for the three months and nine months ended September 30, 2021. Recent Accounting Pronouncements ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This ASU sets forth a “current expected credit loss” ("CECL") model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supported forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. On October 16, 2019, the Financial Accounting Standards Board ("FASB") voted to extend the delay of the effective date of this ASU for smaller reporting companies, such as the Company, until fiscal years beginning after December 15, 2022. The Company is in the process of working with a third party vendor using their software solution to assist with adoption. The Company is also currently gathering necessary data to implement this change and is continuing to assess the impact of the adoption of this ASU on its consolidated financial statements . Based on our analysis, the Company estimates a 5 - 15 % increase to its aggregate reserve levels upon adoption of the current expected credit losses standard on January 1, 2023; however, this estimate is based on current economic conditions, forecasts, and our existing loan portfolio at September 30, 2022, and the estimate is likely to change between now and adoption.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Securities	(2) Investment Securities Investment securities available-for-sale at September 30, 2022 and December 31, 2021 are as follows: (in thousands) Amortized Gross Gross Estimated September 30, 2022 Cost Gains Losses Fair Value U.S. Treasury securities $ 5,097 $ — $ ( 820 ) $ 4,277 Municipal securities - tax exempt 535 — ( 132 ) $ 403 Municipal securities - taxable 2,529 — ( 490 ) $ 2,039 U. S. Government sponsored enterprises 11,837 — ( 3,387 ) $ 8,450 Government agency mortgage-backed securities 21,061 — ( 3,565 ) $ 17,496 Corporate securities 10,115 — ( 902 ) $ 9,213 Total $ 51,174 $ — $ ( 9,296 ) $ 41,878 December 31, 2021 U.S. Treasury securities $ 5,068 $ 5 $ ( 23 ) $ 5,050 Municipal securities - tax exempt 540 — ( 4 ) 536 Municipal securities - taxable 796 — ( 6 ) 790 U. S. Government sponsored enterprises 11,837 — ( 295 ) 11,542 Government agency mortgage-backed securities 21,371 200 ( 232 ) 21,339 Corporate securities 9,425 20 ( 145 ) 9,300 Total $ 49,037 $ 225 $ ( 705 ) $ 48,557 There were 38 securities in an unrealized loss position as of September 30, 2022 for less than 12 months. There were 27 securities in an unrealized loss position for 12 months or greater as of September 30, 2022 . The unrealized losses on the debt securities arose due to changing interest rates and market conditions and are considered to be temporary because of acceptable investment grades and are reviewed regularly. Four of the securities are agency bonds and five are U.S. Treasury bonds, so all of these are direct obligations of the U.S. Government. Thirty-nine of the securities are mortgage backed bonds that have the direct or implied backing of the U.S. Government. Four of the bonds are municipal securities and the remaining 13 securities are corporate securities that are either trust preferred securities or subordinated debentures where the Bank performs a credit review regularly and such review has raised no concerns. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost basis which may be at maturity. The amortized cost and estimated fair value of investment securities available-for-sale at September 30, 2022, by contractual maturity, are shown below. Maturities of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with or without call or prepayment penalties. Therefore, these securities are not included in the maturity categories. (in thousands) Amortized Estimated Cost Fair Value U.S. Treasury securities Within 1 year $ — — Greater than 1 to 5 years — — Greater than 5 to 10 years 5,097 4,277 Greater than 10 years — — Municipal securities - tax exempt Within 1 year — — Greater than 1 to 5 years — — Greater than 5 to 10 years — — Greater than 10 years 535 403 Municipal securities - taxable Within 1 year — — Greater than 1 to 5 years — — Greater than 5 to 10 years 1,278 1,063 Greater than 10 years 1,251 976 Government agency securities Within 1 year — — Greater than 1 to 5 years — — Greater than 5 to 10 years 2,022 1,571 Greater than 10 years 9,815 6,879 Corporate securities Within 1 year — — Greater than 1 to 5 years 496 470 Greater than 5 to 10 years 9,119 8,318 Greater than 10 years 500 425 30,113 24,382 Government agency mortgage-backed securities 21,061 17,496 Total $ 51,174 $ 41,878 No securities were sold during the three months or nine months ended September 30, 2022 or 2021. Securities with a carrying value of approximately $ 4.7 million and $ 2.8 million were pledged to secure public deposits at September 30, 2022 and December 31, 2021 , respectively.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Loans and Allowance for Loan Losses	(3) Loans and Allowance for Loan Losses Major classifications of loans, by collateral code, at September 30, 2022 and December 31, 2021 are summarized as follows: (in thousands) September 30, 2022 December 31, 2021 Commercial (secured by real estate - owner occupied) $ 160,164 $ 158,662 Commercial (secured by real estate - non-owner occupied) 138,351 104,042 Commercial and industrial 149,855 152,835 Paycheck Protection Program loans — 17,883 Construction, land and acquisition & development 42,881 16,317 Residential mortgage 1-4 family 52,904 63,065 Consumer installment 106,228 71,580 Total 650,383 584,384 Less allowance for loan losses ( 9,321 ) ( 8,559 ) Total loans, net $ 641,062 $ 575,825 The Bank grants loans and extensions of credit to individuals and a variety of firms and corporations located primarily in the Atlanta, Georgia MSA. A substantial portion of the loan portfolio is collateralized by improved and unimproved real estate and is dependent upon the real estate market. With the acquisition of Affinity Bank, the Bank enhanced its lending within professional markets, with a primary focus on the dental industry in Georgia and adjoining states. The majority of these loans are commercial and industrial credits for practice acquisitions and equipment financing with the remainder being owner-occupied real estate. The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is an economic stimulus bill signed into law on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States. The creation of the Paycheck Protection Program (PPP) enacted under the CARES Act provides forgivable loans to small businesses for payroll obligations, emergency grants to cover immediate operating costs, and a mechanism for loan forgiveness by the Small Business Administration should all criteria be met. The Bank received SBA authorization for 730 and 1,171 PPP loans totaling $ 66.1 million and $ 130.3 million for the years ended December 31, 2021 and 2020, respectively. These loans are fully guaranteed by the Small Business Administration, and almost all have been paid off by forgiveness. Qualifying loans in the amount of $ 393.9 million and $ 343.6 million were pledged to secure the line of credit from the Federal Home Loan Bank of Atlanta (“FHLB”) at September 30, 2022 and December 31, 2021, respectively. The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of and for the nine months ended September 30, 2022 and as of December 31, 2021: (in thousands) September 30, 2022 Commercial Commercial Commercial Paycheck Construction, Residential Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 2,701 $ 1,980 $ 2,242 $ — $ 162 $ 502 $ 969 $ 3 $ 8,559 Provision ( 606 ) 137 103 — 516 ( 183 ) 678 9 654 Charge-offs — — ( 26 ) — — — ( 74 ) — ( 100 ) Recoveries 123 — 20 — — 39 26 — 208 Ending balance $ 2,218 $ 2,117 $ 2,339 $ — $ 678 $ 358 $ 1,599 $ 12 $ 9,321 Ending allowance attributable to Individually evaluated $ 1 $ 1 $ — $ — $ — $ 7 $ — $ — $ 9 Collectively evaluated 2,217 2,116 2,339 — 678 351 1,599 12 9,312 Total ending allowance $ 2,218 $ 2,117 2,339 $ — $ 678 $ 358 $ 1,599 $ 12 $ 9,321 Loans: Individually evaluated $ 89 $ 3,304 $ — $ — $ — $ 2,475 $ — $ — $ 5,868 Collectively evaluated 160,075 135,047 149,855 — 42,881 50,429 106,228 — 644,515 Total loans $ 160,164 $ 138,351 $ 149,855 $ — $ 42,881 $ 52,904 $ 106,228 $ — $ 650,383 December 31, 2021 Allowance for loan losses: Beginning balance $ 1,913 $ 1,171 $ 1,320 $ — $ 224 $ 970 $ 719 $ 44 $ 6,361 Provision ( 519 ) 809 1,119 — ( 62 ) ( 541 ) 310 ( 41 ) 1,075 Charge-offs — — ( 234 ) — — — ( 76 ) — ( 310 ) Recoveries 1,307 — 37 — — 73 16 — 1,433 Ending balance $ 2,701 $ 1,980 $ 2,242 $ — $ 162 $ 502 $ 969 $ 3 $ 8,559 Ending allowance attributable to Individually evaluated $ — $ 1 $ 1 $ — $ — $ 5 $ — $ — $ 7 Collectively evaluated 2,701 1,979 2,241 — 162 497 969 3 8,552 Total ending allowance $ 2,701 $ 1,980 $ 2,242 $ — $ 162 $ 502 $ 969 $ 3 $ 8,559 Loans: Individually evaluated $ 95 $ 3,387 $ 753 $ — $ — $ 2,992 $ 1 $ — $ 7,228 Collectively evaluated 158,567 100,655 152,082 17,883 16,317 60,073 71,579 — 577,156 Total loans $ 158,662 $ 104,042 $ 152,835 $ 17,883 $ 16,317 $ 63,065 $ 71,580 $ — $ 584,384 (1) Includes PPP loans that are fully guaranteed by the SBA; thus no allowance for loan losses has been allocated to these loans. The Bank individually evaluates all loans for impairment that are on nonaccrual status or are rated substandard (as described below). Additionally, all troubled debt restructurings are evaluated for impairment. A loan is considered impaired when, based on current events and circumstances, it is probable that all amounts due according to the contractual terms of the loan will not be collected. Impaired loans are measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, at the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. Interest payments received on impaired loans are applied as a reduction of the outstanding principal balance. Impaired loans at September 30, 2022 and December 31, 2021 were as follows: (in thousands) September 30, 2022 Recorded Unpaid Allocated Average Interest With no related allowance recorded: Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ — Commercial (secured by real estate - non-owner occupied) 3,122 3,122 — 3,161 — Commercial and industrial — — — — — Paycheck Protection Program — — — — — Construction, land and acquisition & development — — — — — Residential mortgage 1,581 1,581 — 1,636 5 Consumer installment — — — — — 4,703 4,703 — 4,797 5 With an allowance recorded: Commercial (secured by real estate - owner occupied) $ 89 $ 89 $ 1 $ 93 $ 4 Commercial (secured by real estate - non-owner occupied) 182 182 1 186 8 Commercial and industrial — — — — — Construction, land and acquisition & development — — — — — Residential mortgage 894 894 7 922 18 Consumer installment — — — — — 1,165 1,165 9 1,201 30 Total impaired loans $ 5,868 $ 5,867 $ 9 $ 5,998 $ 35 December 31, 2021 With no related allowance recorded: Commercial (secured by real estate - owner occupied) $ 95 $ 95 $ — $ 100 $ 6 Commercial (secured by real estate - non-owner occupied) 3,199 3,199 — 3,177 45 Commercial and industrial 388 421 — 458 — Paycheck Protection Program — — — — — Construction, land and acquisition & development — — — — — Residential mortgage 2,052 2,052 — 2,110 31 Consumer installment 1 1 — 3 — 5,735 5,768 — 5,848 82 With an allowance recorded: Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ — Commercial (secured by real estate - non-owner occupied) 188 189 1 192 12 Commercial and industrial 365 365 1 379 — Construction, land and acquisition & development — — — — — Residential mortgage 940 941 5 960 60 Consumer installment — — — — — 1,493 1,495 7 1,531 72 Total impaired loans $ 7,228 $ 7,263 $ 7 $ 7,379 $ 154 The following table presents the aging of the recorded investment in past due loans, as well as the recorded investment in nonaccrual loans, as of September 30, 2022 and December 31, 2021 by class of loans: (in thousands) September 30, 2022 30 -59 60- 89 90 Days Total Accruing Loans Nonaccrual Current Total Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ 89 $ 160,075 $ 160,164 Commercial (secured by real estate - non-owner occupied) — — — — 3,354 134,997 138,351 Commercial and industrial — — — — 100 149,755 149,855 Paycheck Protection Program — — — — — — — Construction, land and acquisition & — — — — — 42,881 42,881 Residential mortgage 897 537 — 1,434 3,302 48,168 52,904 Consumer installment 399 12 — 411 172 105,645 106,228 Total $ 1,296 $ 549 $ $ 1,845 $ 7,017 $ 641,521 $ 650,383 December 31, 2021 Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ — $ 158,662 $ 158,662 Commercial (secured by real estate - non-owner occupied) — — — — 3,200 100,842 104,042 Commercial and industrial 338 — — 338 813 151,684 152,835 Paycheck Protection Program — — — — — 17,883 17,883 Construction, land and acquisition & — — — — — 16,317 16,317 Residential mortgage 3,547 1,148 — 4,695 2,873 55,497 63,065 Consumer installment 271 25 — 296 125 71,159 71,580 Total $ 4,156 $ 1,173 $ — $ 5,329 $ 7,011 $ 572,044 $ 584,384 There was no new troubled debt restructuring during the nine months ended September 30, 2022 or 2021 . No troubled debt restructurings subsequently defaulted during the nine months ended September 30, 2022 or 2021. The Bank has allocated an allowance for loan losses of approximately $ 9,000 and $ 6,000 to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2022 and December 31, 2021, respectively. 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. This analysis is performed on a continuous basis. The Bank uses the following definitions for its risk ratings: Special Mention. Loans have potential weaknesses that may, if not corrected, weaken or inadequately protect the Bank's credit position at some future date. Weaknesses are generally the result of deviation from prudent lending practices, such as over advances on collateral. Credits in this category should, within a 12-month period, move to Pass if improved or drop to Substandard if poor trends continue. Substandard. Inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Loans have a well-defined weakness or weaknesses such as primary source of repayment is gone or severely impaired or cash flow is insufficient to reduce debt. There is a distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful. Loans have the same weaknesses as those classified Substandard, with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable. The likelihood of a loss on an asset or portion of an asset classified Doubtful is high. Loss. Loans considered uncollectible and of such little value that the continuance as a Bank asset is not warranted. This does not mean that the loan has no recovery or salvage value, but rather the asset should be charged off even though partial recovery may be possible in the future. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of September 30, 2022 and December 31, 2021, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (in thousands) September 30, 2022 Pass Special Substandard Doubtful/ Total Commercial (secured by real estate - owner occupied) $ 159,706 $ 369 $ 89 $ — $ 160,164 Commercial (secured by real estate - non-owner occupied) 132,691 2,306 3,354 — 138,351 Commercial and industrial 149,755 — 100 — 149,855 Paycheck Protection Program — — — — — Construction, land and acquisition & development 42,881 — — — 42,881 Residential mortgage 49,658 — 3,246 — 52,904 Consumer installment 106,056 — 172 — 106,228 Total $ 640,747 $ 2,675 $ 6,961 $ — $ 650,383 December 31, 2021 Pass Special Substandard Doubtful/ Total Commercial (secured by real estate - owner occupied) $ 158,272 $ 390 $ — $ — $ 158,662 Commercial (secured by real estate - non-owner occupied) 98,269 2,352 3,421 — 104,042 Commercial and industrial 151,983 — 852 — 152,835 Paycheck Protection Program 17,883 — — — 17,883 Construction, land and acquisition & development 16,005 312 — — 16,317 Residential mortgage 59,080 — 3,985 — 63,065 Consumer installment 71,440 — 140 — 71,580 Total $ 572,932 $ 3,054 $ 8,398 $ — $ 584,384

Deposits

Deposits	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Deposits	(4) Deposits The aggregate amounts of certificates of deposit of $250,000 or more, the standard FDIC deposit insurance coverage limit per depositor, were approximately $ 17.1 million at September 30, 2022 and $ 22.6 million at December 31, 2021 .

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Borrowings	(5) Borrowings The following FHLB advances, which required monthly or quarterly interest payments, were outstanding at September 30, 2022: Advance Date Advance Interest Rate Maturity Rate Call Feature 8/24/2022 $ 10,000,000 2.70 % 10/24/2022 Fixed N/A $ 10,000,000 There were FHLB advances totaling $ 49.0 million consisting of advances with a book value of $ 48.0 million and a fair value adjustment of $ 1.0 million as of December 31, 2021. At September 30, 2022 and December 31, 2021 , the FHLB advances were collateralized by certain loans which totaled approximately $ 393.9 million and $ 343.6 million, and by the Company’s investment in FHLB stock which totaled approximately $ 775,000 and $ 2.2 million at September 30, 2022 and December 31, 2021 . Acquired FHLB advances totaling $ 49.0 million were paid off during the nine months ended September 30, 2022 . We were able to accrete to income the remaining $ 1.0 million fair value adjustment associated with these acquired advances. This decreased our interest expense for the nine months ended September 30, 2022 to $ 738,000 . We also incurred $ 647,000 of prepayment penalties during the nine months ended September 30, 2022 in connection with the payoff of the acquired advances. The Company had one FHLB letter of credit of $ 5.0 million and $ 8.0 million, used to collateralize public deposits, outstanding at September 30, 2022 and December 31, 2021, respectively. The Company has a Federal Funds unsecured line of credit with Texas Independent Bankers Bank (TIB) of $ 20.0 million. No amount was borrowed under this line as of September 30, 2022 .

Employee Stock Ownership Plan

Employee Stock Ownership Plan	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Employee Stock Ownership Plan	(6) Employee Stock Ownership Plan The Company sponsors an employee stock ownership plan (“ESOP”) that covers all employees who meet certain service requirements. The Company makes annual contributions to the ESOP in amounts as defined by the plan document. These contributions are used to pay debt service and purchase additional shares. Certain ESOP shares are pledged as collateral for debt. As the debt is repaid, shares are released from collateral and allocated to active employees, based on the proportion of debt service paid in the year. In 2017, the ESOP borrowed $ 3.0 million payable to the Company for the purpose of purchasing shares of the Company’s common stock. A total of 295,499 shares were purchased with the loan proceeds as part of the Company’s initial stock offering. In 2021, the ESOP borrowed $ 3.0 million payable to the Company for the purpose of purchasing additional shares of the Company’s common stock. A total of 225,721 shares were purchased with the loan proceeds as part of the Company’s second stock offering. Total ESOP expense for the three months and nine months ended September 30, 2022 and 2021 was approximately $ 77,000 , $ 71,000 , $ 237,000 and $ 193,000 , respectively. The balance of the note payable of the ESOP was approximately $ 5.4 million at September 30, 2022 and December 31, 2021. Because the source of the loan payments is contributions received by the ESOP from the Company, the related note receivable is shown as a reduction of stockholders’ equity. As of September 30, 2022 and December 31, 2021 , 59,000 shares had been released.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Additional General Disclosures [Abstract]
Stock-Based Compensation	(7) Stock-Based Compensation In 2018, shareholders approved the Company’s 2018 Equity Incentive Plan, which authorizes the issuance of up to 133,987 shares of common stock pursuant to restricted stock grants and up to 334,970 shares of common stock pursuant to the exercise of options. Amounts related to periods prior to the date of the Conversion (January 20, 2021) have been restated to give the retroactive recognition to the exchange ratio applied in the Conversion ( 0.90686 -to-one) (see Note 1). In May 2022, shareholders approved the Company’s 2022 Equity Incentive Plan, which authorizes the issuance of up to 148,060 shares of common stock pursuant to restricted stock grants and up to 370,150 shares of common stock pursuant to the exercise of options. A Black-Scholes model is utilized to estimate the fair value of stock option grants, while the market price of the Company’s stock at the date of grant is used to estimate the fair value of restricted stock awards. The weighted average assumptions used in Black-Scholes model for valuing stock option grants were as follows: dividend yield is 0 %, expected volatility is 32.12 %, the risk-free interest rate is 2.84 %, expected average life is 7.32 , and the weighted average per share fair value of options is $ 6.04 . Stock options of 221,500 shares with a weighted average exercise price of $ 14.86 were granted during the nine months ended September 30, 2022. Restricted stock of 114,000 shares with a weighted average grant date value of $ 14.85 were also granted during the nine months ended September 30, 2022. A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Outstanding Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding - December 31, 2021 334,970 $ 9.90 Granted — — Exercise of stock options — — Forfeited — — Outstanding - March 31, 2022 334,970 $ 9.90 7.59 $ 1,009 Exercisable - March 31, 2022 102,475 $ 10.28 8.00 $ 535 Granted 73,500 14.87 Exercise of stock options — — Forfeited — — Outstanding - June 30, 2022 408,470 $ 10.80 7.91 $ 1,696 Exercisable - June 30, 2022 166,779 $ 10.08 7.31 $ 812 Granted 148,000 $ 14.85 Exercise of stock options* — Forfeited 13,399 11.14 Outstanding - September 30, 2022 543,071 $ 11.89 8.15 $ 1,789 Exercisable - September 30, 2022 169,469 $ 10.13 6.91 $ 791 Intrinsic value represents the amount by which the fair market value of the underlying stock exceeds the exercise price of the stock options. A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Weighted Average Grant Date Fair Value Restricted Shares Outstanding Outstanding - December 31, 2021 $ 8.63 93,336 Granted — — Vested — — Forfeited — — Outstanding - March 31, 2022 $ 8.63 93,336 Granted $ 14.87 29,400 Vested* 8.63 ( 26,787 ) Forfeited — — Outstanding - June 30, 2022 $ 10.48 95,949 Granted $ 14.85 84,600 Vested* — — Forfeited 11.14 ( 5,051 ) Outstanding - September 30, 2022 $ 11.97 175,498 * The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable tax withholding requirements at the minimum statutory withholding rate, and accordingly, 3,070 and 2,641 shares were surrendered during the nine months ended September 30, 2022 and 2021. The Company recognized approximately $ 281,000 , $ 110,000 , $ 460,000 and $ 295,000 of stock-based compensation expense during the three months and nine months ended September 30, 2022 and 2021 respectively, associated with its common stock awards granted to directors and officers. This expense is net of approximately $ 47,000 and $ 34,000 during the nine months ended September 30, 2022 and 2021 for shares surrendered to satisfy applicable tax withholding requirements. As of September 30, 2022 , there was approximately $ 3.7 million of unrecognized compensation cost related to equity award grants. The cost is expected to be recognized over the weighted average remaining vesting period of approximately 3.08 years.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Disclosures	(8) Fair Value Measurements and Disclosures The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. From time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans and other real estate owned. These nonrecurring fair value adjustments typically involve application of the lower of cost or market accounting or write-downs of individual assets. Additionally, the Company is required to disclose, but not record, the fair value of other financial instruments. Fair Value Hierarchy The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Following is a description of valuation methodologies used for assets and liabilities recorded at fair value. Cash and Cash Equivalents The carrying value of cash and cash equivalents is a reasonable estimate of fair value. Investment Securities Available-for-Sale Available-for-sale securities are recorded at market value. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, and U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter market funds. Level 2 securities include mortgage-backed securities issued by government sponsored enterprises and state, county and municipal bonds. Securities classified as Level 3 include asset-backed securities in less liquid markets. Other Investments The carrying value of other investments includes FHLB stock and FNBB stock and approximates fair value. Loans The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and a specific reserve may be required to be established within the allowance for loan losses. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance with GAAP. The fair value of impaired loans is estimated using one of three methods, including collateral value, market value of similar debt, and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. In accordance with GAAP, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price, the Company records the impaired loan as nonrecurring Level 2. When an appraised value is used or an appraisal is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the impaired loan as nonrecurring Level 3. For disclosure purposes, the fair value of fixed rate loans which are not considered impaired is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For unimpaired variable rate loans, the carrying amount is a reasonable estimate of fair value for disclosure purposes. Other Real Estate Owned Other real estate properties are adjusted to fair value upon transfer of the loans to other real estate. Subsequently, other real estate assets are carried at fair value less estimated selling costs. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price, the Bank records the other real estate as nonrecurring Level 2. When an appraised value is used or an appraisal is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Bank records the other real estate asset as nonrecurring Level 3. Bank Owned Life Insurance The carrying value of the cash surrender value of life insurance reasonably approximates fair value. Deposits The fair value of savings accounts, interest bearing checking accounts, non-interest bearing checking accounts and market rate checking accounts is the amount payable on demand at the reporting date, while the fair value of fixed maturity certificates of deposit is estimated by discounting the future cash flows using current rates at which comparable certificates would be issued. FHLB Advances The fair value of FHLB fixed-rate borrowings is estimated using discounted cash flows, based on the current incremental borrowing rates for similar types of borrowing arrangements, but since the only advances we have borrowed have a one or two month maturity, the carrying value of the these advances reasonably approximates fair value. Commitments to Extend Credit Commitments to extend credit are short-term and, therefore, the carrying value and the fair value are considered immaterial for disclosure. Assets Recorded at Fair Value on a Recurring Basis The Company’s only assets recorded at fair value on a recurring basis are available-for-sale securities that had fair values of approximately $ 41.9 million and $ 48.6 million at September 30, 2022 and December 31, 2021. They are classified as Level 2. Assets Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2022 and December 31, 2021 (in thousands). September 30, 2022 Level 1 Level 2 Level 3 Total Other real estate owned $ — $ — $ 3,538 $ 3,538 Impaired loans — — 5,859 5,859 Total assets at fair value $ — $ — $ 9,397 $ 9,397 December 31, 2021 Level 1 Level 2 Level 3 Total Other real estate owned $ — $ — $ 3,538 $ 3,538 Impaired loans — — 7,221 7,221 Total assets at fair value $ — $ — $ 10,759 $ 10,759 The carrying amounts and estimated fair values (in thousands) of the Company’s financial instruments at September 30, 2022 and December 31, 2021 are as follows: September 30, 2022 December 31, 2021 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets: Cash and cash equivalents $ 40,506 $ 40,506 $ 111,776 $ 111,776 Investment securities available-for-sale 41,878 41,878 48,557 48,557 Other investments 1,025 1,025 2,476 2,476 Loans, net 641,062 613,341 575,825 581,541 Cash surrender value of life insurance 15,637 15,637 15,377 15,377 Financial liabilities: Deposits 646,017 584,139 614,799 601,036 FHLB advances 10,000 10,000 48,988 48,197 Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include deferred income taxes and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Nature of Operations (Policies)

Nature of Operations (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Reorganization	Reorganization On January 20, 2021, the Company completed the Conversion of Community First Bancshares, MHC, the top tier mutual holding company of Community First Bancshares, Inc. Community First Bancshares, Inc. was the former mid-tier holding company for Affinity Bank (formerly named Newton Federal Bank). Prior to completion of the Conversion, approximately 54 % of the shares of common stock of Community First Bancshares, Inc. were owned by Community First Bancshares, MHC. In conjunction with the Conversion, Community First Bancshares, Inc. was merged into Affinity Bancshares, Inc. (and ceased to exist) and Affinity Bancshares, Inc. became its successor holding company for Newton Federal Bank. As part of the Conversion, on January 20, 2021, the Company raised gross proceeds of $ 37.1 million by selling a total of 3,701,509 shares of common stock at $ 10.00 per share in a stock offering. The Company utilized $ 3.0 million of the proceeds to fund an addition to its Employee Stock Ownership Plan (“ESOP”) loan for the acquisition of additional shares at $ 10.00 per share. Expenses incurred related to the offering were $ 1.7 million and have been recorded against offering proceeds. The Company invested $ 16.3 million of the net proceeds it received from the sale into the Bank’s operations and has retained the remaining amount for general corporate purposes. Concurrent with the completion of the stock offering, each share of Community First Bancshares, Inc. common stock owned by public stockholders (stockholders other than Community First Bancshares, MHC) was exchanged for 0.90686 shares of Company common stock. All share amounts have been adjusted for the conversion, including outstanding restricted stock and stock options.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements and notes thereto contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly, in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the financial position of the Company as of September 30, 2022 and the results of its operations and its cash flows for the periods presented. The interim consolidated financial information should be read in conjunction with the audited financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The results of operations for the three months and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for a full year or for any other period. Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of acquired loans, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income. Summary of Significant Accounting Policies – The accounting and reporting policies of the Company conform to GAAP and general practices within the banking industry. There have been no material changes or developments in the application of principles or in our evaluation of the accounting estimates and the underlying assumptions or methodologies that we believe to be Critical Accounting Policies as disclosed in the Company’s financial statements for the year ended December 31, 2021 included in the Company’s Form 10-K.
Use of Estimates	Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of acquired loans, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income.
Earnings Per Share	Earnings per Share Basic earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are calculated by dividing net income available to common shareholders by the weighted average number of shares adjusted for the dilutive effect of common stock awards (outstanding stock options), if any. Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands except per share data) Net income $ 1,861 $ 1,805 $ 5,435 $ 6,255 Weighted average common shares outstanding 6,652,811 6,872,634 6,683,052 6,931,128 Effect of dilutive common stock awards 99,341 93,002 99,341 93,002 Diluted weighted average common shares outstanding 6,752,152 6,965,636 6,782,393 7,024,130 Basic earnings per common share $ 0.28 $ 0.26 $ 0.81 $ 0.90 Diluted earnings per common share* $ 0.27 $ 0.26 $ 0.80 $ 0.89 * Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year-to-date earnings per share data.
Recent Accounting Pronouncements	Recent Accounting Pronouncements ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This ASU sets forth a “current expected credit loss” ("CECL") model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supported forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. On October 16, 2019, the Financial Accounting Standards Board ("FASB") voted to extend the delay of the effective date of this ASU for smaller reporting companies, such as the Company, until fiscal years beginning after December 15, 2022. The Company is in the process of working with a third party vendor using their software solution to assist with adoption. The Company is also currently gathering necessary data to implement this change and is continuing to assess the impact of the adoption of this ASU on its consolidated financial statements . Based on our analysis, the Company estimates a 5 - 15 % increase to its aggregate reserve levels upon adoption of the current expected credit losses standard on January 1, 2023; however, this estimate is based on current economic conditions, forecasts, and our existing loan portfolio at September 30, 2022, and the estimate is likely to change between now and adoption.

Nature of Operations (Tables)

Nature of Operations (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Calculations for Basic and Diluted Earnings Per Common Share	Presented below are the calculations for basic and diluted earnings per common share. Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands except per share data) Net income $ 1,861 $ 1,805 $ 5,435 $ 6,255 Weighted average common shares outstanding 6,652,811 6,872,634 6,683,052 6,931,128 Effect of dilutive common stock awards 99,341 93,002 99,341 93,002 Diluted weighted average common shares outstanding 6,752,152 6,965,636 6,782,393 7,024,130 Basic earnings per common share $ 0.28 $ 0.26 $ 0.81 $ 0.90 Diluted earnings per common share* $ 0.27 $ 0.26 $ 0.80 $ 0.89

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities Available-for-Sale	Investment securities available-for-sale at September 30, 2022 and December 31, 2021 are as follows: (in thousands) Amortized Gross Gross Estimated September 30, 2022 Cost Gains Losses Fair Value U.S. Treasury securities $ 5,097 $ — $ ( 820 ) $ 4,277 Municipal securities - tax exempt 535 — ( 132 ) $ 403 Municipal securities - taxable 2,529 — ( 490 ) $ 2,039 U. S. Government sponsored enterprises 11,837 — ( 3,387 ) $ 8,450 Government agency mortgage-backed securities 21,061 — ( 3,565 ) $ 17,496 Corporate securities 10,115 — ( 902 ) $ 9,213 Total $ 51,174 $ — $ ( 9,296 ) $ 41,878 December 31, 2021 U.S. Treasury securities $ 5,068 $ 5 $ ( 23 ) $ 5,050 Municipal securities - tax exempt 540 — ( 4 ) 536 Municipal securities - taxable 796 — ( 6 ) 790 U. S. Government sponsored enterprises 11,837 — ( 295 ) 11,542 Government agency mortgage-backed securities 21,371 200 ( 232 ) 21,339 Corporate securities 9,425 20 ( 145 ) 9,300 Total $ 49,037 $ 225 $ ( 705 ) $ 48,557
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Available-for-Sale by Contractual Maturity	The amortized cost and estimated fair value of investment securities available-for-sale at September 30, 2022, by contractual maturity, are shown below. Maturities of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with or without call or prepayment penalties. Therefore, these securities are not included in the maturity categories. (in thousands) Amortized Estimated Cost Fair Value U.S. Treasury securities Within 1 year $ — — Greater than 1 to 5 years — — Greater than 5 to 10 years 5,097 4,277 Greater than 10 years — — Municipal securities - tax exempt Within 1 year — — Greater than 1 to 5 years — — Greater than 5 to 10 years — — Greater than 10 years 535 403 Municipal securities - taxable Within 1 year — — Greater than 1 to 5 years — — Greater than 5 to 10 years 1,278 1,063 Greater than 10 years 1,251 976 Government agency securities Within 1 year — — Greater than 1 to 5 years — — Greater than 5 to 10 years 2,022 1,571 Greater than 10 years 9,815 6,879 Corporate securities Within 1 year — — Greater than 1 to 5 years 496 470 Greater than 5 to 10 years 9,119 8,318 Greater than 10 years 500 425 30,113 24,382 Government agency mortgage-backed securities 21,061 17,496 Total $ 51,174 $ 41,878

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Summary of Major Classifications of Loans	Major classifications of loans, by collateral code, at September 30, 2022 and December 31, 2021 are summarized as follows: (in thousands) September 30, 2022 December 31, 2021 Commercial (secured by real estate - owner occupied) $ 160,164 $ 158,662 Commercial (secured by real estate - non-owner occupied) 138,351 104,042 Commercial and industrial 149,855 152,835 Paycheck Protection Program loans — 17,883 Construction, land and acquisition & development 42,881 16,317 Residential mortgage 1-4 family 52,904 63,065 Consumer installment 106,228 71,580 Total 650,383 584,384 Less allowance for loan losses ( 9,321 ) ( 8,559 ) Total loans, net $ 641,062 $ 575,825
Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method	The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of and for the nine months ended September 30, 2022 and as of December 31, 2021: (in thousands) September 30, 2022 Commercial Commercial Commercial Paycheck Construction, Residential Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 2,701 $ 1,980 $ 2,242 $ — $ 162 $ 502 $ 969 $ 3 $ 8,559 Provision ( 606 ) 137 103 — 516 ( 183 ) 678 9 654 Charge-offs — — ( 26 ) — — — ( 74 ) — ( 100 ) Recoveries 123 — 20 — — 39 26 — 208 Ending balance $ 2,218 $ 2,117 $ 2,339 $ — $ 678 $ 358 $ 1,599 $ 12 $ 9,321 Ending allowance attributable to Individually evaluated $ 1 $ 1 $ — $ — $ — $ 7 $ — $ — $ 9 Collectively evaluated 2,217 2,116 2,339 — 678 351 1,599 12 9,312 Total ending allowance $ 2,218 $ 2,117 2,339 $ — $ 678 $ 358 $ 1,599 $ 12 $ 9,321 Loans: Individually evaluated $ 89 $ 3,304 $ — $ — $ — $ 2,475 $ — $ — $ 5,868 Collectively evaluated 160,075 135,047 149,855 — 42,881 50,429 106,228 — 644,515 Total loans $ 160,164 $ 138,351 $ 149,855 $ — $ 42,881 $ 52,904 $ 106,228 $ — $ 650,383 December 31, 2021 Allowance for loan losses: Beginning balance $ 1,913 $ 1,171 $ 1,320 $ — $ 224 $ 970 $ 719 $ 44 $ 6,361 Provision ( 519 ) 809 1,119 — ( 62 ) ( 541 ) 310 ( 41 ) 1,075 Charge-offs — — ( 234 ) — — — ( 76 ) — ( 310 ) Recoveries 1,307 — 37 — — 73 16 — 1,433 Ending balance $ 2,701 $ 1,980 $ 2,242 $ — $ 162 $ 502 $ 969 $ 3 $ 8,559 Ending allowance attributable to Individually evaluated $ — $ 1 $ 1 $ — $ — $ 5 $ — $ — $ 7 Collectively evaluated 2,701 1,979 2,241 — 162 497 969 3 8,552 Total ending allowance $ 2,701 $ 1,980 $ 2,242 $ — $ 162 $ 502 $ 969 $ 3 $ 8,559 Loans: Individually evaluated $ 95 $ 3,387 $ 753 $ — $ — $ 2,992 $ 1 $ — $ 7,228 Collectively evaluated 158,567 100,655 152,082 17,883 16,317 60,073 71,579 — 577,156 Total loans $ 158,662 $ 104,042 $ 152,835 $ 17,883 $ 16,317 $ 63,065 $ 71,580 $ — $ 584,384 (1) Includes PPP loans that are fully guaranteed by the SBA; thus no allowance for loan losses has been allocated to these loans.
Summary of Impaired Loans	Impaired loans at September 30, 2022 and December 31, 2021 were as follows: (in thousands) September 30, 2022 Recorded Unpaid Allocated Average Interest With no related allowance recorded: Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ — Commercial (secured by real estate - non-owner occupied) 3,122 3,122 — 3,161 — Commercial and industrial — — — — — Paycheck Protection Program — — — — — Construction, land and acquisition & development — — — — — Residential mortgage 1,581 1,581 — 1,636 5 Consumer installment — — — — — 4,703 4,703 — 4,797 5 With an allowance recorded: Commercial (secured by real estate - owner occupied) $ 89 $ 89 $ 1 $ 93 $ 4 Commercial (secured by real estate - non-owner occupied) 182 182 1 186 8 Commercial and industrial — — — — — Construction, land and acquisition & development — — — — — Residential mortgage 894 894 7 922 18 Consumer installment — — — — — 1,165 1,165 9 1,201 30 Total impaired loans $ 5,868 $ 5,867 $ 9 $ 5,998 $ 35 December 31, 2021 With no related allowance recorded: Commercial (secured by real estate - owner occupied) $ 95 $ 95 $ — $ 100 $ 6 Commercial (secured by real estate - non-owner occupied) 3,199 3,199 — 3,177 45 Commercial and industrial 388 421 — 458 — Paycheck Protection Program — — — — — Construction, land and acquisition & development — — — — — Residential mortgage 2,052 2,052 — 2,110 31 Consumer installment 1 1 — 3 — 5,735 5,768 — 5,848 82 With an allowance recorded: Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ — Commercial (secured by real estate - non-owner occupied) 188 189 1 192 12 Commercial and industrial 365 365 1 379 — Construction, land and acquisition & development — — — — — Residential mortgage 940 941 5 960 60 Consumer installment — — — — — 1,493 1,495 7 1,531 72 Total impaired loans $ 7,228 $ 7,263 $ 7 $ 7,379 $ 154
Summary of Recorded Investment in Past Due Loans, as Well as Nonaccrual Loans	The following table presents the aging of the recorded investment in past due loans, as well as the recorded investment in nonaccrual loans, as of September 30, 2022 and December 31, 2021 by class of loans: (in thousands) September 30, 2022 30 -59 60- 89 90 Days Total Accruing Loans Nonaccrual Current Total Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ 89 $ 160,075 $ 160,164 Commercial (secured by real estate - non-owner occupied) — — — — 3,354 134,997 138,351 Commercial and industrial — — — — 100 149,755 149,855 Paycheck Protection Program — — — — — — — Construction, land and acquisition & — — — — — 42,881 42,881 Residential mortgage 897 537 — 1,434 3,302 48,168 52,904 Consumer installment 399 12 — 411 172 105,645 106,228 Total $ 1,296 $ 549 $ $ 1,845 $ 7,017 $ 641,521 $ 650,383 December 31, 2021 Commercial (secured by real estate - owner occupied) $ — $ — $ — $ — $ — $ 158,662 $ 158,662 Commercial (secured by real estate - non-owner occupied) — — — — 3,200 100,842 104,042 Commercial and industrial 338 — — 338 813 151,684 152,835 Paycheck Protection Program — — — — — 17,883 17,883 Construction, land and acquisition & — — — — — 16,317 16,317 Residential mortgage 3,547 1,148 — 4,695 2,873 55,497 63,065 Consumer installment 271 25 — 296 125 71,159 71,580 Total $ 4,156 $ 1,173 $ — $ 5,329 $ 7,011 $ 572,044 $ 584,384
Summary of Risk Category of Loans by Class of Loans	Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of September 30, 2022 and December 31, 2021, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (in thousands) September 30, 2022 Pass Special Substandard Doubtful/ Total Commercial (secured by real estate - owner occupied) $ 159,706 $ 369 $ 89 $ — $ 160,164 Commercial (secured by real estate - non-owner occupied) 132,691 2,306 3,354 — 138,351 Commercial and industrial 149,755 — 100 — 149,855 Paycheck Protection Program — — — — — Construction, land and acquisition & development 42,881 — — — 42,881 Residential mortgage 49,658 — 3,246 — 52,904 Consumer installment 106,056 — 172 — 106,228 Total $ 640,747 $ 2,675 $ 6,961 $ — $ 650,383 December 31, 2021 Pass Special Substandard Doubtful/ Total Commercial (secured by real estate - owner occupied) $ 158,272 $ 390 $ — $ — $ 158,662 Commercial (secured by real estate - non-owner occupied) 98,269 2,352 3,421 — 104,042 Commercial and industrial 151,983 — 852 — 152,835 Paycheck Protection Program 17,883 — — — 17,883 Construction, land and acquisition & development 16,005 312 — — 16,317 Residential mortgage 59,080 — 3,985 — 63,065 Consumer installment 71,440 — 140 — 71,580 Total $ 572,932 $ 3,054 $ 8,398 $ — $ 584,384

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Federal Home Loan Bank of Atlanta (FHLB) Advances	The following FHLB advances, which required monthly or quarterly interest payments, were outstanding at September 30, 2022: Advance Date Advance Interest Rate Maturity Rate Call Feature 8/24/2022 $ 10,000,000 2.70 % 10/24/2022 Fixed N/A $ 10,000,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Additional General Disclosures [Abstract]
Summary of Stock Option Activity	A summary of the Company’s stock option activity is summarized below. Stock Options Option Shares Outstanding Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding - December 31, 2021 334,970 $ 9.90 Granted — — Exercise of stock options — — Forfeited — — Outstanding - March 31, 2022 334,970 $ 9.90 7.59 $ 1,009 Exercisable - March 31, 2022 102,475 $ 10.28 8.00 $ 535 Granted 73,500 14.87 Exercise of stock options — — Forfeited — — Outstanding - June 30, 2022 408,470 $ 10.80 7.91 $ 1,696 Exercisable - June 30, 2022 166,779 $ 10.08 7.31 $ 812 Granted 148,000 $ 14.85 Exercise of stock options* — Forfeited 13,399 11.14 Outstanding - September 30, 2022 543,071 $ 11.89 8.15 $ 1,789 Exercisable - September 30, 2022 169,469 $ 10.13 6.91 $ 791
Summary of Restricted Stock Activity	A summary of the Company’s restricted stock activity is summarized below. Restricted Stock Weighted Average Grant Date Fair Value Restricted Shares Outstanding Outstanding - December 31, 2021 $ 8.63 93,336 Granted — — Vested — — Forfeited — — Outstanding - March 31, 2022 $ 8.63 93,336 Granted $ 14.87 29,400 Vested* 8.63 ( 26,787 ) Forfeited — — Outstanding - June 30, 2022 $ 10.48 95,949 Granted $ 14.85 84,600 Vested* — — Forfeited 11.14 ( 5,051 ) Outstanding - September 30, 2022 $ 11.97 175,498 * The terms of the restricted stock agreements permit the surrender of shares to the Company upon vesting in order to satisfy applicable tax withholding requirements at the minimum statutory withholding rate, and accordingly, 3,070 and 2,641 shares were surrendered during the nine months ended September 30, 2022 and 2021.

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Nonrecurring Basis	Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2022 and December 31, 2021 (in thousands). September 30, 2022 Level 1 Level 2 Level 3 Total Other real estate owned $ — $ — $ 3,538 $ 3,538 Impaired loans — — 5,859 5,859 Total assets at fair value $ — $ — $ 9,397 $ 9,397 December 31, 2021 Level 1 Level 2 Level 3 Total Other real estate owned $ — $ — $ 3,538 $ 3,538 Impaired loans — — 7,221 7,221 Total assets at fair value $ — $ — $ 10,759 $ 10,759
Schedule of Carrying Amounts and Estimated Fair Values of Company's Financial Instruments	The carrying amounts and estimated fair values (in thousands) of the Company’s financial instruments at September 30, 2022 and December 31, 2021 are as follows: September 30, 2022 December 31, 2021 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets: Cash and cash equivalents $ 40,506 $ 40,506 $ 111,776 $ 111,776 Investment securities available-for-sale 41,878 41,878 48,557 48,557 Other investments 1,025 1,025 2,476 2,476 Loans, net 641,062 613,341 575,825 581,541 Cash surrender value of life insurance 15,637 15,637 15,377 15,377 Financial liabilities: Deposits 646,017 584,139 614,799 601,036 FHLB advances 10,000 10,000 48,988 48,197

Nature of Operations - Addition

Nature of Operations - Additional Information (Details) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Jan. 20, 2021 USD ($) $ / shares shares	Sep. 30, 2022 shares	Sep. 30, 2021 shares	Sep. 30, 2022 shares	Sep. 30, 2021 shares	Sep. 30, 2020
Basis Of Presentation [Line Items]
Sale of stock, gross proceeds	$ 37.1
Sale of stock, number of common stock issued | shares	3,701,509
Sale of stock, price per share | $ / shares	$ 10
Cash contributions to Employee Stock Ownership Plan ("ESOP")	$ 3
Employee stock ownership plan per share | $ / shares	$ 10
Offering expenses	$ 1.7
Amount invested in bank operations	$ 16.3
Common stock exchange ratio	0.90686
Minimum | ASU 2016-13
Basis Of Presentation [Line Items]
Estimated increase to aggregated reserve levels upon adoption				5%
Maximum | ASU 2016-13
Basis Of Presentation [Line Items]
Estimated increase to aggregated reserve levels upon adoption				15%
Stock Options
Basis Of Presentation [Line Items]
Options to purchase shares excluded from calculation of diluted earnings per common share | shares		234,954	0	234,954	0
Community First Bancshares, MHC
Basis Of Presentation [Line Items]
Common stock ownership percentage	54%					54%

Nature of Operations - Schedule

Nature of Operations - Schedule of Calculations for Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net income		$ 1,861	$ 1,783	$ 1,791	$ 1,805	$ 2,318	$ 2,132	$ 5,435	$ 6,255
Weighted average common shares outstanding		6,652,811			6,872,634			6,683,052	6,931,128
Effect of dilutive common stock awards		99,341			93,002			99,341	93,002
Diluted weighted average common shares outstanding		6,752,152			6,965,636			6,782,393	7,024,130
Basic earnings per common share		$ 0.28			$ 0.26			$ 0.81	$ 0.90
Diluted earnings per common share	[1]	$ 0.27			$ 0.26			$ 0.80	$ 0.89
[1] Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year-to-date earnings per share data.

Investment Securities - Schedul

Investment Securities - Schedule of Investment Securities Available-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	$ 51,174	$ 49,037
Investment securities available-for-sale, Gross Unrealized Gains		225
Investment securities available-for-sale, Gross Unrealized Losses	(9,296)	(705)
Investment securities available-for-sale, Estimated Fair Value	41,878	48,557
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	5,097	5,068
Investment securities available-for-sale, Gross Unrealized Gains		5
Investment securities available-for-sale, Gross Unrealized Losses	(820)	(23)
Investment securities available-for-sale, Estimated Fair Value	4,277	5,050
Municipal Securities - Tax Exempt
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	535	540
Investment securities available-for-sale, Gross Unrealized Losses	(132)	(4)
Investment securities available-for-sale, Estimated Fair Value	403	536
Municipal Securities - Taxable
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	2,529	796
Investment securities available-for-sale, Gross Unrealized Losses	(490)	(6)
Investment securities available-for-sale, Estimated Fair Value	2,039	790
Government Agency Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	21,061	21,371
Investment securities available-for-sale, Gross Unrealized Gains		200
Investment securities available-for-sale, Gross Unrealized Losses	(3,565)	(232)
Investment securities available-for-sale, Estimated Fair Value	17,496	21,339
U.S. Government Sponsored Enterprises
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	11,837	11,837
Investment securities available-for-sale, Gross Unrealized Losses	(3,387)	(295)
Investment securities available-for-sale, Estimated Fair Value	8,450	11,542
Corporate Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	10,115	9,425
Investment securities available-for-sale, Gross Unrealized Gains		20
Investment securities available-for-sale, Gross Unrealized Losses	(902)	(145)
Investment securities available-for-sale, Estimated Fair Value	$ 9,213	$ 9,300

Investment Securities - Additio

Investment Securities - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) Security	Sep. 30, 2021 Security	Sep. 30, 2022 USD ($) Security	Sep. 30, 2021 Security	Dec. 31, 2021 USD ($)
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Number of available-for-sale securities in unrealized loss position less than 12 months	38		38
Number of available-for-sale securities in unrealized loss position 12 months or greater	27		27
Sales of available-for-sale securities	0	0	0	0
Debt Securities, Available-for-sale | $	$ 41,878		$ 41,878		$ 48,557
Collateral Pledged
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Debt Securities, Available-for-sale | $	$ 4,700		$ 4,700		$ 2,800
Government Agency Securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Number of available-for-sale securities in unrealized loss position less than 12 months	4		4
U.S. Treasury Strip Bonds
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Number of available-for-sale securities in unrealized loss position less than 12 months	5		5
Government Agency Mortgage-Backed Securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Number of available-for-sale securities in unrealized loss position less than 12 months	39		39
Municipal Securities - Tax Exempt
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Number of available-for-sale securities in unrealized loss position less than 12 months	4		4
Corporate Securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Number of available-for-sale securities in unrealized loss position less than 12 months	13		13

Investment Securities - Sched_2

Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Available-for-Sale by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	$ 51,174	$ 49,037
Investment securities available-for-sale, Estimated Fair Value	41,878	48,557
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, within 1 year, Amortized Cost	0
Investment securities available-for-sale, Greater than 1 to 5 years, Amortized Cost	0
Investment securities available-for-sale, Greater than 5 to 10 years, Amortized Cost	5,097
Investment securities available-for-sale, Greater than 10 years, Amortized Cost	0
Investment securities available-for-sale, Amortized Cost	5,097	5,068
Investment securities available-for-sale, within 1 year, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 1 to 5 years, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 5 to 10 years, Estimated Fair Value	4,277
Investment securities available-for-sale, Greater than10 years, Estimated Fair Value	0
Investment securities available-for-sale, Estimated Fair Value	4,277	5,050
Municipal Securities - Tax Exempt
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, within 1 year, Amortized Cost	0
Investment securities available-for-sale, Greater than 1 to 5 years, Amortized Cost	0
Investment securities available-for-sale, Greater than 5 to 10 years, Amortized Cost	0
Investment securities available-for-sale, Greater than 10 years, Amortized Cost	535
Investment securities available-for-sale, Amortized Cost	535	540
Investment securities available-for-sale, within 1 year, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 1 to 5 years, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 5 to 10 years, Estimated Fair Value	0
Investment securities available-for-sale, Greater than10 years, Estimated Fair Value	403
Investment securities available-for-sale, Estimated Fair Value	403	536
Municipal Securities - Taxable
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, within 1 year, Amortized Cost	0
Investment securities available-for-sale, Greater than 1 to 5 years, Amortized Cost	0
Investment securities available-for-sale, Greater than 5 to 10 years, Amortized Cost	1,278
Investment securities available-for-sale, Greater than 10 years, Amortized Cost	1,251
Investment securities available-for-sale, Amortized Cost	2,529	796
Investment securities available-for-sale, within 1 year, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 1 to 5 years, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 5 to 10 years, Estimated Fair Value	1,063
Investment securities available-for-sale, Greater than10 years, Estimated Fair Value	976
Investment securities available-for-sale, Estimated Fair Value	2,039	790
Government Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, within 1 year, Amortized Cost	0
Investment securities available-for-sale, Greater than 1 to 5 years, Amortized Cost	0
Investment securities available-for-sale, Greater than 5 to 10 years, Amortized Cost	2,022
Investment securities available-for-sale, Greater than 10 years, Amortized Cost	9,815
Investment securities available-for-sale, within 1 year, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 1 to 5 years, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 5 to 10 years, Estimated Fair Value	1,571
Investment securities available-for-sale, Greater than10 years, Estimated Fair Value	6,879
Corporate Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, within 1 year, Amortized Cost	0
Investment securities available-for-sale, Greater than 1 to 5 years, Amortized Cost	496
Investment securities available-for-sale, Greater than 5 to 10 years, Amortized Cost	9,119
Investment securities available-for-sale, Greater than 10 years, Amortized Cost	500
Investment securities available-for-sale, Amortized Cost	10,115	9,425
Investment securities available-for-sale, within 1 year, Estimated Fair Value	0
Investment securities available-for-sale, Greater than 1 to 5 years, Estimated Fair Value	470
Investment securities available-for-sale, Greater than 5 to 10 years, Estimated Fair Value	8,318
Investment securities available-for-sale, Greater than10 years, Estimated Fair Value	425
Investment securities available-for-sale, Estimated Fair Value	9,213	9,300
U.S. Treasury Securities, Municipal Securities - Tax Exempt, Municipal Securities - Taxable, Government Agency Securities, Corporate Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	30,113
Investment securities available-for-sale, Estimated Fair Value	24,382
Government Agency Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Investment securities available-for-sale, Amortized Cost	21,061	21,371
Investment securities available-for-sale, Estimated Fair Value	$ 17,496	$ 21,339

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses - Summary of Major Classifications of Loans (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		$ 650,383	$ 584,384
Less allowance for loan losses		(9,321)	(8,559)	$ (6,361)
Total loans, net		641,062	575,825
Commercial (Secured by Real Estate - Owner Occupied)
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		160,164	158,662
Less allowance for loan losses		(2,218)	(2,701)	(1,913)
Commercial (Secured by Real Estate - Non-owner Occupied)
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		138,351	104,042
Less allowance for loan losses		(2,117)	(1,980)	(1,171)
Commercial and Industrial
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		149,855	152,835
Paycheck Protection Program Loans
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross	[1]		17,883
Less allowance for loan losses		0	0
Construction, Land and Acquisition & Development
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		42,881	16,317
Less allowance for loan losses		(678)	(162)	(224)
Residential Mortgage 1-4 Family
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		52,904	63,065
Consumer Installment
Loans And Leases Receivable Disclosure [Line Items]
Total loans, gross		106,228	71,580
Less allowance for loan losses		$ (1,599)	$ (969)	$ (719)
[1] Includes PPP loans that are fully guaranteed by the SBA; thus no allowance for loan losses has been allocated to these loans.

Loans and Allowance for Loan _4

Loans and Allowance for Loan Losses - Additional Information (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) Contract	Sep. 30, 2021 USD ($) Contract	Dec. 31, 2021 USD ($) Loan	Dec. 31, 2020 USD ($) Loan
Financing Receivable Recorded Investment Past Due [Line Items]
Troubled debt restructurings that have subsequently defaulted, recorded investment	$ 0	$ 0
Troubled Debt Restructurings that have Subsequently Defaulted, Number of Contracts | Contract	0	0
Allowance for loan losses	$ 9,321,000		$ 8,559,000	$ 6,361,000
Qualifying Loans Pledged | Federal Home Loan Bank
Financing Receivable Recorded Investment Past Due [Line Items]
Qualifying loans pledged to secure the line of credit from FHLB	393,900,000		343,600,000
Modified Loan Terms
Financing Receivable Recorded Investment Past Due [Line Items]
Allowance for loan losses	$ 9,000		$ 6,000
Small Business Administration
Financing Receivable Recorded Investment Past Due [Line Items]
Number of paycheck protection program loans | Loan			730	1,171
Paycheck protection program loans			$ 66,100,000	$ 130,300,000

Loans and Allowance for Loan _5

Loans and Allowance for Loan Losses - Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Allowance for loan losses:
Beginning balance		$ 8,559	$ 6,361	$ 6,361
Provision		654	975	1,075
Charge-offs		(100)		(310)
Recoveries		208		1,433
Ending balance		9,321		8,559
Ending allowance attributable to loans:
Individually evaluated for impairment		9		7
Collectively evaluated for impairment		9,312		8,552
Ending balance		9,321		8,559
Loans:
Individually evaluated for impairment		5,868		7,228
Collectively evaluated for impairment		644,515		577,156
Total loans		650,383		584,384
Commercial (Secured by Real Estate - Owner Occupied)
Allowance for loan losses:
Beginning balance		2,701	1,913	1,913
Provision		(606)		(519)
Recoveries		123		1,307
Ending balance		2,218		2,701
Ending allowance attributable to loans:
Individually evaluated for impairment		1
Collectively evaluated for impairment		2,217		2,701
Ending balance		2,218		2,701
Loans:
Individually evaluated for impairment		89		95
Collectively evaluated for impairment		160,075		158,567
Total loans		160,164		158,662
Commercial (Secured by Real Estate - Non-owner Occupied)
Allowance for loan losses:
Beginning balance		1,980	1,171	1,171
Provision		137		809
Ending balance		2,117		1,980
Ending allowance attributable to loans:
Individually evaluated for impairment		1		1
Collectively evaluated for impairment		2,116		1,979
Ending balance		2,117		1,980
Loans:
Individually evaluated for impairment		3,304		3,387
Collectively evaluated for impairment		135,047		100,655
Total loans		138,351		104,042
Commercial and Industrial
Allowance for loan losses:
Beginning balance		2,242	1,320	1,320
Provision		(103)		1,119
Charge-offs		(26)		(234)
Recoveries		20		37
Ending balance		2,339		2,242
Ending allowance attributable to loans:
Individually evaluated for impairment				1
Collectively evaluated for impairment		2,339		2,241
Ending balance		2,339		2,242
Loans:
Individually evaluated for impairment				753
Collectively evaluated for impairment		149,855		152,082
Total loans		149,855		152,835
Paycheck Protection Program
Allowance for loan losses:
Beginning balance		0
Ending balance		0		0
Ending allowance attributable to loans:
Ending balance		0		0
Loans:
Collectively evaluated for impairment	[1]			17,883
Total loans	[1]			17,883
Construction, Land and Acquisition & Development
Allowance for loan losses:
Beginning balance		162	224	224
Provision		516		(62)
Ending balance		678		162
Ending allowance attributable to loans:
Collectively evaluated for impairment		678		162
Ending balance		678		162
Loans:
Collectively evaluated for impairment		42,881		16,317
Total loans		42,881		16,317
Residential Mortgage
Allowance for loan losses:
Beginning balance		502	970	970
Provision		(183)		(541)
Recoveries		39		73
Ending balance		358		502
Ending allowance attributable to loans:
Individually evaluated for impairment		7		5
Collectively evaluated for impairment		351		497
Ending balance		358		502
Loans:
Individually evaluated for impairment		2,475		2,992
Collectively evaluated for impairment		50,429		60,073
Total loans		52,904		63,065
Consumer Installment
Allowance for loan losses:
Beginning balance		969	719	719
Provision		678		310
Charge-offs		(74)		(76)
Recoveries		26		16
Ending balance		1,599		969
Ending allowance attributable to loans:
Collectively evaluated for impairment		1,599		969
Ending balance		1,599		969
Loans:
Individually evaluated for impairment				1
Collectively evaluated for impairment		106,228		71,579
Total loans		106,228		71,580
Unallocated
Allowance for loan losses:
Beginning balance		3	$ 44	44
Provision		9		(41)
Ending balance		12		3
Ending allowance attributable to loans:
Collectively evaluated for impairment		12		3
Ending balance		$ 12		$ 3
[1] Includes PPP loans that are fully guaranteed by the SBA; thus no allowance for loan losses has been allocated to these loans.

Loans and Allowance for Loan _6

Loans and Allowance for Loan Losses - Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses	$ 9,321	$ 8,559	$ 6,361
Paycheck Protection Program Loans
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses	$ 0	$ 0

Loans and Allowance for Loan _7

Loans and Allowance for Loan Losses - Summary of Impaired Loans (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable Impaired [Line Items]
Recorded Investment, With no related allowance recorded	$ 4,703	$ 5,735
Unpaid Principal Balance, With no related allowance recorded	4,703	5,768
Average Recorded Investment, With no related allowance recorded	4,797	5,848
Interest Income Recognized, With no related allowance recorded	5	82
Recorded Investment, With an allowance recorded	1,165	1,493
Unpaid Principal Balance, With an allowance recorded	1,165	1,495
Allocated Related Allowance, With an allowance recorded	9	7
Average Recorded Investment, With an allowance recorded	1,201	1,531
Interest Income Recognized, With an allowance recorded	30	72
Total impaired loans, Recorded Investment	5,868	7,228
Total impaired loans, Unpaid Principal Balance	5,867	7,263
Total impaired loans, Allocated Related Allowance	9	7
Total impaired loans, Average Recorded Investment	5,998	7,379
Total impaired loans, Interest Income Recognized	35	154
Commercial (Secured by Real Estate - Owner Occupied)
Financing Receivable Impaired [Line Items]
Recorded Investment, With no related allowance recorded		95
Unpaid Principal Balance, With no related allowance recorded		95
Average Recorded Investment, With no related allowance recorded		100
Interest Income Recognized, With no related allowance recorded		6
Recorded Investment, With an allowance recorded	89
Unpaid Principal Balance, With an allowance recorded	89
Allocated Related Allowance, With an allowance recorded	1
Average Recorded Investment, With an allowance recorded	93
Interest Income Recognized, With an allowance recorded	4
Commercial (Secured by Real Estate - Non-owner Occupied)
Financing Receivable Impaired [Line Items]
Recorded Investment, With no related allowance recorded	3,122	3,199
Unpaid Principal Balance, With no related allowance recorded	3,122	3,199
Average Recorded Investment, With no related allowance recorded	3,161	3,177
Interest Income Recognized, With no related allowance recorded		45
Recorded Investment, With an allowance recorded	182	188
Unpaid Principal Balance, With an allowance recorded	182	189
Allocated Related Allowance, With an allowance recorded	1	1
Average Recorded Investment, With an allowance recorded	186	192
Interest Income Recognized, With an allowance recorded	8	12
Commercial and Industrial
Financing Receivable Impaired [Line Items]
Recorded Investment, With no related allowance recorded		388
Unpaid Principal Balance, With no related allowance recorded		421
Average Recorded Investment, With no related allowance recorded		458
Recorded Investment, With an allowance recorded		365
Unpaid Principal Balance, With an allowance recorded		365
Allocated Related Allowance, With an allowance recorded		1
Average Recorded Investment, With an allowance recorded		379
Residential Mortgage
Financing Receivable Impaired [Line Items]
Recorded Investment, With no related allowance recorded	1,581	2,052
Unpaid Principal Balance, With no related allowance recorded	1,581	2,052
Average Recorded Investment, With no related allowance recorded	1,636	2,110
Interest Income Recognized, With no related allowance recorded	5	31
Recorded Investment, With an allowance recorded	894	940
Unpaid Principal Balance, With an allowance recorded	894	941
Allocated Related Allowance, With an allowance recorded	7	5
Average Recorded Investment, With an allowance recorded	922	960
Interest Income Recognized, With an allowance recorded	$ 18	60
Consumer Installment
Financing Receivable Impaired [Line Items]
Recorded Investment, With no related allowance recorded		1
Unpaid Principal Balance, With no related allowance recorded		1
Average Recorded Investment, With no related allowance recorded		$ 3

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses - Summary of Recorded Investment in Past Due Loans, as Well as Nonaccrual Loans (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Financing Receivable Recorded Investment Past Due [Line Items]
Total		$ 650,383	$ 584,384
Nonaccrual		7,017	7,011
30 -59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		1,296	4,156
60- 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		549	1,173
Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		1,845	5,329
Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		641,521	572,044
Commercial (Secured by Real Estate - Owner Occupied)
Financing Receivable Recorded Investment Past Due [Line Items]
Total		160,164	158,662
Nonaccrual		89
Commercial (Secured by Real Estate - Owner Occupied) | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		160,075	158,662
Commercial (Secured by Real Estate - Non-owner Occupied)
Financing Receivable Recorded Investment Past Due [Line Items]
Total		138,351	104,042
Nonaccrual		3,354	3,200
Commercial (Secured by Real Estate - Non-owner Occupied) | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		134,997	100,842
Commercial and Industrial
Financing Receivable Recorded Investment Past Due [Line Items]
Total		149,855	152,835
Nonaccrual		100	813
Commercial and Industrial | 30 -59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total			338
Commercial and Industrial | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total			338
Commercial and Industrial | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		149,755	151,684
Paycheck Protection Program
Financing Receivable Recorded Investment Past Due [Line Items]
Total	[1]		17,883
Paycheck Protection Program | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total			17,883
Construction, Land and Acquisition & Development
Financing Receivable Recorded Investment Past Due [Line Items]
Total		42,881	16,317
Construction, Land and Acquisition & Development | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		42,881	16,317
Residential Mortgage
Financing Receivable Recorded Investment Past Due [Line Items]
Total		52,904	63,065
Nonaccrual		3,302	2,873
Residential Mortgage | 30 -59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		897	3,547
Residential Mortgage | 60- 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		537	1,148
Residential Mortgage | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		1,434	4,695
Residential Mortgage | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		48,168	55,497
Consumer Installment
Financing Receivable Recorded Investment Past Due [Line Items]
Total		106,228	71,580
Nonaccrual		172	125
Consumer Installment | 30 -59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		399	271
Consumer Installment | 60- 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		12	25
Consumer Installment | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total		411	296
Consumer Installment | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total		$ 105,645	$ 71,159
[1] Includes PPP loans that are fully guaranteed by the SBA; thus no allowance for loan losses has been allocated to these loans.

Loans and Allowance for Loan _9

Loans and Allowance for Loan Losses - Summary of Risk Category of Loans by Class of Loans (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Composition Of Loan Portfolio [Line Items]
Total		$ 650,383	$ 584,384
Pass
Composition Of Loan Portfolio [Line Items]
Total		640,747	572,932
Special Mention
Composition Of Loan Portfolio [Line Items]
Total		2,675	3,054
Substandard
Composition Of Loan Portfolio [Line Items]
Total		6,961	8,398
Commercial (Secured by Real Estate - Owner Occupied)
Composition Of Loan Portfolio [Line Items]
Total		160,164	158,662
Commercial (Secured by Real Estate - Owner Occupied) | Pass
Composition Of Loan Portfolio [Line Items]
Total		159,706	158,272
Commercial (Secured by Real Estate - Owner Occupied) | Special Mention
Composition Of Loan Portfolio [Line Items]
Total		369	390
Commercial (Secured by Real Estate - Owner Occupied) | Substandard
Composition Of Loan Portfolio [Line Items]
Total		89
Commercial (Secured by Real Estate - Non-owner Occupied)
Composition Of Loan Portfolio [Line Items]
Total		138,351	104,042
Commercial (Secured by Real Estate - Non-owner Occupied) | Pass
Composition Of Loan Portfolio [Line Items]
Total		132,691	98,269
Commercial (Secured by Real Estate - Non-owner Occupied) | Special Mention
Composition Of Loan Portfolio [Line Items]
Total		2,306	2,352
Commercial (Secured by Real Estate - Non-owner Occupied) | Substandard
Composition Of Loan Portfolio [Line Items]
Total		3,354	3,421
Commercial and Industrial
Composition Of Loan Portfolio [Line Items]
Total		149,855	152,835
Commercial and Industrial | Pass
Composition Of Loan Portfolio [Line Items]
Total		149,755	151,983
Commercial and Industrial | Substandard
Composition Of Loan Portfolio [Line Items]
Total		100	852
Paycheck Protection Program
Composition Of Loan Portfolio [Line Items]
Total	[1]		17,883
Paycheck Protection Program | Pass
Composition Of Loan Portfolio [Line Items]
Total			17,883
Construction, Land and Acquisition & Development
Composition Of Loan Portfolio [Line Items]
Total		42,881	16,317
Construction, Land and Acquisition & Development | Pass
Composition Of Loan Portfolio [Line Items]
Total		42,881	16,005
Construction, Land and Acquisition & Development | Special Mention
Composition Of Loan Portfolio [Line Items]
Total			312
Residential Mortgage
Composition Of Loan Portfolio [Line Items]
Total		52,904	63,065
Residential Mortgage | Pass
Composition Of Loan Portfolio [Line Items]
Total		49,658	59,080
Residential Mortgage | Substandard
Composition Of Loan Portfolio [Line Items]
Total		3,246	3,985
Consumer Installment
Composition Of Loan Portfolio [Line Items]
Total		106,228	71,580
Consumer Installment | Pass
Composition Of Loan Portfolio [Line Items]
Total		106,056	71,440
Consumer Installment | Substandard
Composition Of Loan Portfolio [Line Items]
Total		$ 172	$ 140
[1] Includes PPP loans that are fully guaranteed by the SBA; thus no allowance for loan losses has been allocated to these loans.

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Deposits [Abstract]
Time certificates of deposit in denomination of greater than $250,000	$ 17.1	$ 22.6

Borrowings - Schedule of Federa

Borrowings - Schedule of Federal Home Loan Bank of Atlanta (FHLB) Advances (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Federal Home Loan Bank Advances [Line Items]
Advances from FHLB, Fair Value Adjustment	$ 1,000,000	$ 1,000,000
Federal Home Loan Bank of Atlanta
Federal Home Loan Bank Advances [Line Items]
Advances from FHLB	$ 10,000,000
Federal Home Loan Bank of Atlanta | October 24, 2022
Federal Home Loan Bank Advances [Line Items]
Advances from FHLB, Advance Date	Aug. 24, 2022
Advances from FHLB	$ 10,000,000
Advances from FHLB, Interest Rate	2.70%
Advances from FHLB, Maturity	Oct. 24, 2022
Advances from FHLB, Rate	Fixed
Advances from FHLB, Call Feature	N/A

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Line Of Credit Facility [Line Items]
Federal Home Loan Bank (FHLB) advances	$ 10,000,000		$ 10,000,000		$ 48,988,000
Fair value adjustment	1,000,000		1,000,000		1,000,000
Advances from FHLB collateralized by certain loans	393,900,000		393,900,000		343,600,000
Investment in FHLB stock	775,000		775,000		2,200,000
FHLB advances book value					48,000,000
Repayment of acquired FHLB advances			49,000,000
Interest expense decreased	698,000	$ 761,000	738,000	$ 2,475,000
Line of credit amount outstanding	5,000,000		5,000,000		$ 8,000,000
Prepayment penalties			647,000
Unsecured Federal Funds
Line Of Credit Facility [Line Items]
Line of credit amount outstanding	0		0
Line of credit	$ 20,000,000		$ 20,000,000

Employee Stock Ownership Plan -

Employee Stock Ownership Plan - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jan. 31, 2021	Dec. 31, 2017
Share-Based Payment Arrangement [Abstract]
Note payable balance of ESOP	$ 5,400,000		$ 5,400,000		$ 5,400,000	$ 3,000,000	$ 3,000,000
Shares purchased by ESOP					225,721		295,499
ESOP expense	$ 77,000	$ 71,000	$ 237,000	$ 193,000
ESOP released shares	59,000		59,000		59,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details)	1 Months Ended	3 Months Ended			9 Months Ended
	May 31, 2022 shares	Sep. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Jan. 20, 2021	Dec. 31, 2018 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock exchange ratio							0.90686
Number of stock option grants		148,000	73,500
Stock-based compensation expense | $		$ 281,000		$ 110,000	$ 460,000	$ 295,000
Shares surrendered to satisfy applicable tax withholding requirements | $					47,000	$ 34,000
Unrecognized compensation cost related to equity award grants | $		$ 3,700,000			$ 3,700,000
Unrecognized compensation cost expected remaining vesting period					3 years 29 days
Dividend yield					0%
Expected volatility					32.12%
Risk-free interest rate					2.84%
Expected average life					7 years 3 months 25 days
Weighted average per share fair value | $ / shares		$ 6.04			$ 6.04
Weighted Average Exercise Price, Granted | $ / shares		$ 14.85	$ 14.87
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock grants		84,600	29,400		114,000
Weighted average grant date value, granted | $ / shares		$ 14.85	$ 14.87		$ 14.85
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock option grants					221,500
Weighted Average Exercise Price, Granted | $ / shares					$ 14.86
2018 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock exchange ratio							0.90686
2018 Equity Incentive Plan | Restricted Stock | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved under the plan								133,987
2018 Equity Incentive Plan | Stock Options | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved under the plan								334,970
2022 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved under the plan	148,060
2022 Equity Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock grants	370,150

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Additional General Disclosures [Abstract]
Option Shares Outstanding, Outstanding - Beginning Balance	408,470	334,970	334,970	334,970
Option Shares Outstanding, Grants	148,000	73,500
Option Shares Outstanding, Forfeited	13,399
Option Shares Outstanding, Outstanding - Ending Balance	543,071	408,470	334,970	543,071
Option Shares Outstanding, Exercisable	169,469	166,779	102,475	169,469
Weighted Average Exercise Price, Outstanding - Beginning Balance	$ 10.80	$ 9.90	$ 9.90	$ 9.90
Weighted Average Exercise Price, Granted	14.85	14.87
Weighted Average Exercise Price, Forfeited	11.14
Weighted Average Exercise Price, Outstanding - Ending Balance	11.89	10.80	9.90	11.89
Weighted Average Exercise Price, Exercisable	$ 10.13	$ 10.08	$ 10.28	$ 10.13
Weighted Average Remaining Life (Years), Outstanding	8 years 1 month 24 days	7 years 10 months 28 days	7 years 7 months 2 days
Weighted Average Remaining Life (Years), Exercisable	6 years 10 months 28 days	7 years 3 months 21 days	8 years
Aggregate Intrinsic Value (in thousands), Outstanding	$ 1,789	$ 1,696	$ 1,009	$ 1,789
Aggregate Intrinsic Value (in thousands), Exercisable	$ 791	$ 812	$ 535	$ 791

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock - $ / shares	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Shares Outstanding, Outstanding - Beginning Balance	95,949	93,336	93,336	93,336
Restricted Shares Outstanding, Granted	84,600	29,400		114,000
Restricted Shares Outstanding, Vested		26,787	0
Restricted Shares Outstanding, Forfeited	(5,051)
Restricted Shares Outstanding, Outstanding - Ending Balance	175,498	95,949	93,336	175,498
Weighted Average Grant Date Fair Value, Outstanding - Beginning Balance	$ 10.48	$ 8.63	$ 8.63	$ 8.63
Weighted Average Grant Date Fair Value, Granted	14.85	14.87		14.85
Weighted Average Grant Date Fair Value, Vested		8.63	0
Weighted Average Grant Date Fair Value, Forfeited	11.14
Weighted Average Grant Date Fair Value, Outstanding - Ending Balance	$ 11.97	$ 10.48	$ 8.63	$ 11.97

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock Activity (Parenthetical) (Details) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares applicable tax withholding requirements	3,070	2,641

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment securities available-for-sale, Estimated Fair Value	$ 41,878	$ 48,557
Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment securities available-for-sale, Estimated Fair Value	$ 41,900	$ 48,600

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impaired loans	$ 5,868	$ 7,228
Fair Value, Measurements, Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other real estate owned	3,538	3,538
Impaired loans	5,859	7,221
Total assets at fair value	9,397	10,759
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other real estate owned	3,538	3,538
Impaired loans	5,859	7,221
Total assets at fair value	$ 9,397	$ 10,759

Fair Value Measurements and D_5

Fair Value Measurements and Disclosures - Schedule of Carrying Amounts and Estimated Fair Values of Company's Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial assets:
Investment securities available-for-sale	$ 41,878	$ 48,557
Carrying Amount
Financial assets:
Cash and cash equivalents	40,506	111,776
Investment securities available-for-sale	41,878	48,557
Other investments	1,025	2,476
Loans, net	641,062	575,825
Cash surrender value of life insurance	15,637	15,377
Financial liabilities:
Deposits	646,017	614,799
FHLB advances	10,000	48,988
Estimated Fair Value
Financial assets:
Cash and cash equivalents	40,506	111,776
Investment securities available-for-sale	41,878	48,557
Other investments	1,025	2,476
Loans, net	613,341	581,541
Cash surrender value of life insurance	15,637	15,377
Financial liabilities:
Deposits	584,139	601,036
FHLB advances	$ 10,000	$ 48,197