Northeast Community Bancorp (NECB) 10-Q 28 Jun 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Jun. 28, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity Registrant Name	NorthEast Community Bancorp, Inc.
Entity File Number	333-253982
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	86-3173858
Entity Address State Or Province	NY
Entity Address, Address Line One	325 Hamilton Avenue
Entity Address, City or Town	White Plains
Entity Address, Postal Zip Code	10601
City Area Code	914
Local Phone Number	684-2500
Title of 12(b) Security	None
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0
Entity Central Index Key	0001847398
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and amounts due from depository institutions	$ 4,509	$ 7,613
Interest-bearing deposits	51,357	61,578
Cash and cash equivalents	55,866	69,191
Certificates of deposit	100	100
Equity Securities	10,178	10,332
Securities available-for-sale, at fair value	2	2
Securities held-to-maturity (fair value of $7,038 and $7,519, respectively)	6,939	7,382
Loans receivable	835,766	824,708
Deferred loan (fees) costs, net	252	113
Allowance for loan losses	(5,102)	(5,088)
Net loans	830,916	819,733
Premises and equipment, net	18,927	18,675
Investments in restricted stock, at cost	1,595	1,595
Bank owned life insurance	24,838	24,691
Accrued interest receivable	3,887	3,838
Goodwill	651	651
Real estate owned	1,996	1,996
Property held for investment	1,509	1,518
Right of Use Assets - Operating	2,962	3,094
Right of Use Assets - Financing	362	363
Other assets	4,421	5,060
Total assets	965,149	968,221
Deposits:
Non-interest bearing	223,000	221,371
Interest bearing	542,004	550,335
Total deposits	765,004	771,706
Advance payments by borrowers for taxes and insurance	2,473	2,258
Federal Home Loan Bank advances	28,000	28,000
Lease Liability - Operating	2,989	3,115
Lease Liability - Financing	469	460
Accounts payable and accrued expenses	9,188	8,857
Total liabilities	808,123	814,396
Stockholders' equity:
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none issued
Common stock, $0.01 par value; 19,000,000 shares authorized; 13,225,000 shares issued; and 12,194,611 shares outstanding at March 31, 2021 and December 31, 2020, respectively	132	132
Additional paid-in capital	56,932	56,901
Unearned Employee Stock Ownership Plan ("ESOP") shares	(1,231)	(1,296)
Treasury stock - at cost, 1,030,389 shares at March 31, 2021 and December 31, 2020, respectively	(7,032)	(7,032)
Retained earnings	108,408	105,305
Accumulated other comprehensive loss	(183)	(185)
Total stockholders' equity	157,026	153,825
Total liabilities and stockholders' equity	$ 965,149	$ 968,221

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited)
Securities held-to-maturity, fair value	$ 7,038	$ 7,519
Allowance for loan losses	$ 5,102	$ 5,088
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	19,000,000	19,000,000
Common stock, shares issued	13,225,000	13,225,000
Common stock, shares outstanding	12,194,611	12,194,611
Treasury stock, shares	1,030,389	1,030,389

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
INTEREST INCOME:
Loans	$ 11,727	$ 12,244
Interest-earning deposits	10	320
Securities - taxable	83	115
Total Interest Income	11,820	12,679
INTEREST EXPENSE:
Deposits	1,282	3,063
Borrowings	174	156
Financing Lease	9	9
Total Interest Expense	1,465	3,228
Net Interest Income	10,355	9,451
Provision for loan loss	17	14
Net Interest Income after Provision for Loan Losses	10,338	9,437
NON-INTEREST INCOME:
Other loan fees and service charges	322	270
Earnings on bank owned life insurance	147	156
Investment advisory fees	118	114
Unrealized gain (loss) on equity securities	(155)	206
Other	11	136
Total Non-Interest Income	443	882
NON-INTEREST EXPENSES:
Salaries and employee benefits	3,657	3,277
Occupancy expense	573	478
Equipment	249	217
Outside data processing	487	425
Advertising	24	52
Real estate owned expense	41	47
Other	1,523	1,572
Total Non-Interest Expenses	6,554	6,068
INCOME BEFORE PROVISION FOR INCOME TAXES	4,227	4,251
PROVISION FOR INCOME TAXES	982	995
NET INCOME	$ 3,245	$ 3,256
EARNINGS PER COMMON SHARE - BASIC AND DILUTED	$ 0.27	$ 0.27
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED	12,068	12,042
DIVIDENDS DECLARED PER COMMON SHARE	$ 0.03	$ 0.03

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net Income		$ 3,245	$ 3,256
Reclassification adjustments out of accumulated other comprehensive loss:
Amortization of prior service cost(1)	[1]		4
Amortization of actuarial loss(1)	[1]	8	4
Actuarial gain arising during period		(6)	(4)
Total		2	4
Income tax effect(2)	[2]	1	6
Total other comprehensive (loss) income		3	10
Total Comprehensive Income		$ 3,248	$ 3,266
[1]	Amounts are included in salaries and employees benefits in the audited consolidated statements of operations as part of net periodic pension cost. See Note 16 for further information.
[2]	Amounts are included in provision for income taxes in the audited consolidated statements of operations.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid- in Capital	Unearned ESOP Shares	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Total
Balance at beginning of period at Dec. 31, 2019	$ 132	$ 56,902	$ (1,555)	$ 93,767	$ (7,032)	$ (101)	$ 142,113
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				3,256			3,256
Other comprehensive loss						10	10
Cash dividend declared				(361)			(361)
ESOP shares earned		8	65				73
Balance at end of period at Mar. 31, 2020	132	56,910	(1,490)	96,662	(7,032)	(91)	145,091
Balance at beginning of period at Dec. 31, 2020	132	56,901	(1,296)	105,305	(7,032)	(185)	153,825
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				3,245			3,245
Other comprehensive loss						3	3
Cash dividend declared				(144)			(144)
ESOP shares earned		32	65				97
Balance at end of period at Mar. 31, 2021	$ 132	$ 56,933	$ (1,231)	$ 108,406	$ (7,032)	$ (182)	$ 157,026

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited)
Cash dividend declared per share	$ 0.03	$ 0.03

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities:
Net income	$ 3,245	$ 3,256
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of securities premiums and discounts, net	(1)	(1)
Provision for loan losses	17	14
Depreciation	294	249
Net accretion of deferred loan fees and costs	(10)	(34)
Deferred income tax expense	(203)	(19)
Unrealized gain (loss) recognized on equity securities	155	(206)
Earnings on bank owned life insurance	(147)	(156)
ESOP compensation expense	97	73
Increase in accrued interest receivable	(49)	(249)
Decrease in other assets	984	2,524
Increase (Decrease) in accounts payable and accrued expenses	216	(1,643)
Net Cash Provided by Operating Activities	4,598	3,808
Cash Flows from Investing Activities:
Net increase in loans	(11,190)	(39,913)
Principal repayments on securities available-for-sale		1
Principal repayments on securities held-to-maturity	444	288
Net (Purchase) redemptions of restricted stock		(315)
Purchases of premises and equipment	(547)	(307)
Net Cash Used in Investing Activities	(11,293)	(40,246)
Cash Flows from Financing Activities:
Net (decrease) increase in deposits	(6,702)	(54,562)
Proceeds from FHLB of NY advances		7,000
Increase (Decrease) in advance payments by borrowers for taxes and insurance	215	(173)
Cash dividends paid	(143)	(360)
Net Cash (Used in) Provided by Financing Activities	(6,630)	(48,095)
Net Decrease in Cash and Cash Equivalents	(13,325)	(84,533)
Cash and Cash Equivalents - Beginning	69,191	127,675
Cash and Cash Equivalents - Ending	55,866	43,142
Supplementary Cash Flows Information:
Income taxes paid	76	75
Interest paid	1,490	3,228
Supplementary Disclosure of Non-Cash Investing and Financing Activities:
Dividends declared and not paid	$ 144	$ 361

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1 — Summary of Significant Accounting Policies The following is a description of the Company’s business and significant accounting and reporting policies: Nature of Business: Northeast Community Bancorp, Inc. (the “Company”) is a Federally-chartered corporation that was organized to be a mid-tier holding company for Northeast Community Bank (the “Bank”) in conjunction with the Bank’s reorganization from a mutual savings bank to a mutual holding company structure on July 5, 2006. The Bank is a New York State-chartered savings bank and completed its conversion from a federally-chartered savings bank effective as of the close of business on June 29, 2012. The Company’s primary activity is the ownership and operation of the Bank. The Bank is headquartered in White Plains, New York. The Bank was founded in 1934 and is a community oriented financial institution dedicated to serving the financial services needs of individuals and businesses within its market area. The Bank currently conducts business through its nine branch offices located in Bronx, New York, Orange, Rockland and Westchester Counties in New York and Essex, Middlesex and Norfolk Counties in Massachusetts and three loan production offices located in White Plains, New York, New City, New York and Danvers, Massachusetts. The Bank’s principal business consists of originating primarily construction loans and, to a lesser extent, commercial and industrial loans and multifamily and mixed-use residential real estate loans and non-residential real estate loans. The Bank offers a variety of retail deposit products to the general public in the areas surrounding its main office and its branch offices, with interest rates that are competitive with those of similar products offered by other financial institutions operating in its market area. The Bank also utilizes borrowings as a source of funds. The Bank’s revenues are derived primarily from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities. The Bank also generates revenues from other income including deposit fees, service charges and investment advisory fees. The Bank also offers investment advisory and financial planning services under the name Harbor West Wealth Management Group, a division of the Bank, through a networking arrangement with a registered broker-dealer and investment advisor. New England Commercial Properties LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2007 to facilitate the purchase or lease of real property by the Bank. New England Commercial Properties, LLC currently owns one foreclosed property located in Pennsylvania. NECB Financial Services Group, LLC (“NECB Financial”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in the third quarter of 2012 as a complement to Harbor West Wealth Management Group to sell life insurance and fixed rate annuities. NECB Financial is licensed in the States of New York and Connecticut. 72 West Eckerson LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2015 to facilitate the purchase or lease of real property by the Bank and currently owns the branch locations in Spring Valley, New York and Monroe, New York. 166 Route 59 Realty LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the property for a proposed branch located in Airmont, New York. Principal of Consolidations: The accompanying unaudited consolidated financial statements include the accounts of the Company, the Bank, NECP, NECB Financial, 72 West Eckerson, and 166 Route 59 Realty (collectively the “Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant inter-company accounts and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company and its subsidiaries conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements have been condensed or omitted pursuant to such rules and regulations. The unaudited consolidated interim financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the prospectus of NorthEast Community Bancorp, Inc., filed with the SEC pursuant to Rule 424(b)(3) on May 24, 2021. In the opinion of the Company, all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the operating results for the interim periods have been included. The results of operations for periods of less than a year are not necessarily indicative of results for the full year. 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 financial statements, and reported amounts of revenue and expenses during the reporting period. Estimates that are particularly susceptible to change in the near term, including novel coronavirus (“COVID-19”) related changes, are used in connection with the determination of the allowance for loan losses, the review of the need for a valuation allowance of the Company’s deferred tax assets and the fair value of financial instruments. COVID-19: The Company continues to monitor the impact of COVID-19 and considers these disruptions to be temporary. If the disruptions continue, this might have an adverse effect on the Company’s results of operations, financial position, and liquidity in 2021. Further, a decrease in the results of future operations might place a strain on the Company’s regulatory capital ratios.

Mutual Holding Company Reorgani

Mutual Holding Company Reorganization and Regulatory Matters	3 Months Ended
	Mar. 31, 2021
Mutual Holding Company Reorganization and Regulatory Matters
Mutual Holding Company Reorganization and Regulatory Matters	Note 2 — Mutual Holding Company Reorganization and Regulatory Capital The Company and the Bank are subject to regulatory capital requirements promulgated by the federal banking agencies. The Federal Reserve establishes capital requirements, including well capitalized standards, for the consolidated financial holding company, and the FDIC has similar requirements for the Company’s subsidiary bank. Prior to January 1, 2015, quantitative measures were established by regulation to ensure capital adequacy which required the Bank to maintain minimum amounts and ratios of Total, Tier 1 capital (as defined by regulations) to risk-weighted assets (as defined), and of Core tier 1 capital to adjusted total assets (as defined). Effective January 1, 2015, the Company adopted the Basel III final rule. Based on the Company’s capital levels and statement of condition composition at December 31, 2020, the implementation of the new rule had no material impact on our regulatory capital level or ratios at the Bank level. The new rule established limits at the Company level and increased the minimum Tier 1 capital to risk based assets requirement from 4% to 6% of risk-weighted assets; established a new common equity Tier 1 capital; and assigned a higher risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The new rule has a capital conservation buffer requirement that was phased in at a rate of 0.625% annually beginning January 1, 2016 through January 1, 2020, when full capital conservation buffer requirement of 2.50% became effective. The Bank met all capital adequacy requirements to which it was subject as of March 31, 2021 and December 31, 2020. The following table presents information about the Bank’s capital levels at the dates presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Regulatory Capital Requirements ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ For Classification as ​ ​ Actual ​ Adequacy(1) ​ Well-Capitalized ​ Amount Ratio Amount Ratio Amount Ratio ​ ​ (Dollars in Thousands) As of March 31, 2021: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 147,809 14.04 % $ $≥84,248 ≥8.00 % $ $≥105,310 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 142,735 13.55 ​ ≥63,186 ≥6.00 ​ ≥84,248 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 142,735 13.55 ​ ≥47,389 ≥4.50 ​ ≥68,451 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 142,735 14.96 ​ ≥38,174 ≥4.00 ​ ≥47,717 ≥5.00 ​ As of December 31, 2020: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 143,021 13.72 % $ $≥83,399 ≥8.00 % $ $≥104.249 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 137,962 13.23 ​ ≥62,550 ≥6.00 ​ ≥83,399 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 137,962 13.23 ​ ≥46,912 ≥4.50 ​ ≥67,762 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 137,962 14.79 ​ ≥37,304 ≥4.00 ​ ≥46,629 ≥5.00 ​ (1) Ratios do not include the capital conservation buffer. Based on the most recent notification by the FDIC, the Bank was categorized as “well capitalized” under the regulatory framework for prompt corrective action. There have been no conditions or events that have occurred since notification that management believes have changed the Bank’s category.

Equity Securities

Equity Securities	3 Months Ended
	Mar. 31, 2021
Equity Securities
Equity Securities	Note 3 — Equity Securities The following table is the schedule of Equity Securities at March 31, 2021 and December 31, 2020. The Equity Securities consists of our investment in a market-rate bond mutual fund that invests in high quality fixed income bonds, mainly government agency securities whose proceeds are designed to positively impact community development throughout the United States. The mutual fund focuses exclusively on providing Affordable Housing for Low- and Moderate-Income borrowers and renters, including those in Majority Minority Census Tracts. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Equity Securities, at Fair Value ​ $ 10,178 ​ $ 10,332 ​ ​ The following is a summary of unrealized gains recognized in net income on equity securities during the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Unrealized net gain (loss) recognized during the reporting period ​ ​ ​ ​ ​ ​ ​ on equity securities still held at the reporting date ​ $ (155) ​ $ 206 ​ ​

Securities Available-for-Sale

Securities Available-for-Sale	3 Months Ended
	Mar. 31, 2021
Securities Available-for-Sale
Securities Available-for-Sale	Note 4 — Securities Available-for-Sale The following table summarized the Company’s portfolio of securities available-for-sale at March 31, 2021 and December 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ There were no sales of securities available-for-sale as of March 31, 2021 and December 31, 2020. Contractual final maturities of mortgage-backed securities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ Amortized Cost Fair Value ​ ​ (In Thousands) Due after one year but with five years ​ $ 2 ​ $ 2 ​ ​ $ 2 ​ $ 2 ​ The maturities shown above are based upon contractual final maturity. Actual maturities will differ from contractual maturities due to scheduled monthly repayments and due to the underlying borrowers having the right to prepay their obligations. At March 31, 2021 and December 31, 2020, the Company had no unrealized loss.

Securities Held-to-Maturity

Securities Held-to-Maturity	3 Months Ended
	Mar. 31, 2021
Securities Held-to-Maturity
Securities Held-to-Maturity	Note 5 — Securities Held-to-Maturity The following table summarized the Company’s portfolio of securities held-to-maturity at March 31, 2021 and December 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 4,189 ​ $ — ​ $ — ​ $ 4,189 Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 835 ​ $ 26 ​ $ — ​ $ 861 Federal Home Loan Mortgage Corporation ​ 57 ​ — ​ 1 ​ 56 Federal National Mortgage Association ​ 959 ​ 35 ​ — ​ 994 Collateralized mortgage obligations – GSE ​ 899 ​ 39 ​ — ​ 938 ​ ​ $ 2,750 ​ $ 100 ​ $ 1 ​ $ 2,849 ​ ​ $ 6,939 ​ $ 100 ​ $ 1 ​ $ 7,038 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 4,189 ​ $ — ​ $ — ​ $ 4,189 Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 933 ​ $ 25 ​ $ — ​ $ 958 Federal Home Loan Mortgage Corporation ​ 59 ​ — ​ 1 ​ 58 Federal National Mortgage Association ​ 1,097 ​ 45 ​ — ​ 1,142 Collateralized mortgage obligations – GSE ​ 1,104 ​ 68 ​ — ​ 1,172 ​ ​ $ 3,193 ​ 138 ​ 1 ​ $ 3,330 ​ ​ $ 7,382 ​ $ 138 ​ $ 1 ​ $ 7,519 ​ Contractual final maturities of mortgage-backed securities and municipal bonds were as follows at March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Amortized ​ Fair ​ Cost Value ​ (In Thousands) Due within one year ​ $ 4,150 ​ $ 4,175 Due after one but within five years ​ 949 ​ 949 Due after five but within ten years ​ — ​ — Due after ten years ​ 1,840 ​ 1,914 ​ ​ $ 6,939 ​ $ 7,038 ​ The maturities shown above are based upon contractual final maturity. Actual maturities will differ from contractual maturities due to scheduled monthly repayments and due to the underlying borrowers having the right to prepay their obligations. The age of unrealized losses and the fair value of related securities held-to-maturity were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) March 31, 2021: ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ $ 42 ​ $ 1 ​ ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ $ 42 ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) December 31, 2020: ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 42 ​ $ 1 ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ ​ $ 42 ​ $ 1 ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ At March 31, 2021, one mortgage-backed security had unrealized loss. Management concluded that the unrealized loss reflected above for the mortgage-backed security was temporary in nature since the loss was related primarily to market interest rates and not related to the underlying credit quality of the issuer of the security. Additionally, the Company has the ability and intent to hold the security for the time necessary to recover the amortized cost. At December 31, 2020, there was one mortgage-backed security with unrealized loss.

Loans Receivable and the Allowa

Loans Receivable and the Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2021
Loans Receivable and the Allowance for Loan Losses
Loans Receivable and the Allowance for Loan Losses	Note 6 — Loans Receivable and the Allowance for Loan Losses Loans are stated at unpaid principal balances plus net deferred loan origination fees and costs less an allowance for loan losses. Interest on loans receivable is recorded on the accrual basis. An allowance for uncollected interest is established on loans where management has determined that the borrowers may be unable to meet contractual principal and/or interest obligations or where interest or principal is 90 days or more past due, unless the loans are well secured with a reasonable expectation of collection. When a loan is placed on nonaccrual, an allowance for uncollected interest is established and charged against current income. Thereafter, interest income is not recognized unless the financial condition and payment record of the borrower warrant the recognition of interest income. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Interest on loans that have been restructured is accrued according to the renegotiated terms. Net loan origination fees and costs are deferred and amortized into interest income over the contractual lives of the related loans by use of the level yield method. Past due status of loans is based upon the contractual due date. Prepayment penalties received on loans which pay in full prior to the scheduled maturity are included in interest income in the period the prepayment penalties are collected. ​ The composition of loans were as follows at March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Residential real estate: ​ ​ ​ One-to-four family ​ $ 5,708 ​ $ 6,170 ​ Multi-family ​ 90,022 ​ 90,506 ​ Mixed-use ​ 29,113 ​ 30,508 ​ Total residential real estate ​ 124,843 ​ 127,184 ​ Non-residential real estate ​ 57,981 ​ 60,665 ​ Construction ​ 563,239 ​ 545,788 ​ Commercial and industrial ​ 89,602 ​ 90,577 ​ Overdrafts ​ 62 ​ 452 ​ Consumer ​ 39 ​ 42 ​ Total Loans ​ 835,766 ​ 824,708 ​ Allowance for loan losses ​ (5,102) ​ (5,088) ​ Deferred loan (fees) costs, net ​ 252 ​ 113 ​ ​ ​ $ 830,916 ​ $ 819,733 ​ ​ Loans serviced for the benefit of others totaled approximately $7,920,000 and $11,876,000 at March 31, 2021 and December 31, 2020, respectively. The value of mortgage servicing rights was not material at March 31, 2021 and December 31, 2020. The Company did not issue Payroll Protection Program (“PPP”) loans associated with the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (the “CARES Act”) in 2021 or 2020. The Company had no loans to related parties at March 31, 2021 and December 31, 2020. In addition, the Company did not originate any loans to related parties in 2021 or 2020. The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions, and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The following tables summarize the distribution of the allowance for loan losses and loans receivable by loan class and impairment method at March 31, 2021 and December 31, 2020: At March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Overdraft Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 699 ​ $ 501 ​ $ 3,144 ​ $ 756 ​ $ — ​ $ 2 ​ $ — ​ $ 5,102 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 699 ​ $ 501 ​ $ 3,144 ​ $ 756 ​ $ — ​ $ 2 ​ $ — ​ $ 5,102 Loans receivable: ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 124,843 ​ $ 57,981 ​ $ 563,239 ​ $ 89,602 ​ $ 39 ​ $ 62 ​ $ — ​ $ 835,766 Ending balance: individually evaluated for impairment ​ $ 1,995 ​ $ 4,340 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,335 Ending balance: collectively evaluated for impairment ​ $ 122,848 ​ $ 53,641 ​ $ 563,239 ​ $ 89,602 ​ $ 39 ​ $ 62 ​ $ — ​ $ 829,431 ​ At December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Overdraft ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 707 ​ $ 519 ​ $ 3,068 ​ $ 774 ​ $ — ​ $ 20 ​ $ — ​ $ 5,088 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 707 ​ $ 519 ​ $ 3,068 ​ $ 774 ​ $ — ​ $ 20 ​ $ — ​ $ 5,088 Loans receivable: ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 127,184 ​ $ 60,665 ​ $ 545,788 ​ $ 90,577 ​ $ 42 ​ $ 452 ​ $ — ​ $ 824,708 Ending balance: individually evaluated for impairment ​ $ 2,009 ​ $ 4,461 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,470 Ending balance: collectively evaluated for impairment ​ $ 125,175 ​ $ 56,204 ​ $ 545,788 ​ $ 90,577 ​ $ 42 ​ $ 452 ​ $ — ​ $ 818,238 ​ The activity in the allowance for loan loss by loan class for the three months ended March 31, 2021 and 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Overdraft Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - January 1, 2021 ​ $ 707 ​ $ 519 ​ $ 3,068 ​ $ 774 ​ $ — ​ $ 20 ​ $ — ​ $ 5,088 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ (11) ​ — ​ (11) Recoveries ​ — ​ — ​ — ​ — ​ — ​ 8 ​ — ​ 8 Provision (Benefit) ​ (8) ​ (18) ​ 76 ​ (18) ​ — ​ (15) ​ — ​ 17 Balance - March 31, 2021 ​ $ 699 ​ $ 501 ​ $ 3,144 ​ $ 756 ​ $ — ​ $ 2 ​ $ — ​ $ 5,102 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Overdraft ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ Balance - January 1, 2020 ​ $ 605 ​ $ 503 ​ $ 2,692 ​ $ 566 ​ $ — ​ $ 71 ​ $ 174 ​ $ 4,611 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ (1) ​ — ​ (1) Recoveries ​ 1 ​ — ​ — ​ 15 ​ — ​ — ​ — ​ 16 Provision (Benefit) ​ — ​ — ​ 8 ​ 6 ​ — ​ — ​ — ​ 14 Balance - March 31, 2020 ​ $ 606 ​ $ 503 ​ $ 2,700 ​ $ 587 ​ $ — ​ $ 70 ​ $ 174 ​ $ 4,640 ​ The following table shows our recorded investment, unpaid principal balance and allocated allowance for loan losses for loans that were considered impaired at: As of and for the Three Months Ended March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2021 ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ $ 1,995 ​ $ 1,995 ​ $ — ​ $ 2,002 ​ $ 21 Non-residential real estate ​ 4,340 ​ 4,340 ​ — ​ 4,401 ​ 9 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 6,335 ​ 6,335 ​ — ​ 6,403 ​ 30 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 1,995 ​ 1,995 ​ — ​ 2,002 ​ 21 Non-residential real estate ​ 4,340 ​ 4,340 ​ — ​ 4,401 ​ 9 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 6,335 ​ $ 6,335 ​ $ — ​ $ 6,403 ​ $ 30 ​ As of and for the Year Ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2020 ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ $ 2,009 ​ $ 2,009 ​ $ — ​ $ 2,666 ​ $ 87 Non-residential real estate ​ 4,461 ​ 4,526 ​ — ​ 4,371 ​ 50 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 6,470 ​ 6,535 ​ — ​ 7,037 ​ 137 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 2,009 ​ 2,009 ​ — ​ 2,666 ​ 87 Non-residential real estate ​ 4,461 ​ 4,526 ​ — ​ 4,371 ​ 50 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 6,470 ​ $ 6,535 ​ $ — ​ $ 7,037 ​ $ 137 ​ The following table sets forth the composition of our nonaccrual loans at the dates indicated. Loans Receivable on Nonaccrual Status as of March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ ​ (In Thousands) Non-residential real estate ​ 3,577 ​ 3,572 ​ ​ $ 3,577 ​ $ 3,572 ​ The Company did not recognize any interest income on non-accrual loans during the three months ended March 31, 2021 and 2020. Interest income that would have been recorded had the loans been on accrual status would have amounted to approximately $57,000 and $70,000 for the three months ended March 31, 2021 and 2020, respectively. The Company is not committed to lend additional funds to borrowers whose loans have been placed on non-accrual status. The following tables provide information about delinquencies in our loan portfolio at the dates indicated. Age Analysis of Past Due Loans as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment > ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,708 ​ $ 5,708 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 90,022 ​ 90,022 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 29,113 ​ 29,113 ​ — Non-residential real estate ​ — ​ — ​ 3,577 ​ 3,577 ​ 54,404 ​ 57,981 ​ — Construction loans ​ — ​ 606 ​ — ​ 606 ​ 562,633 ​ 563,239 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 89,602 ​ 89,602 ​ — Overdrafts ​ — ​ — ​ — ​ — ​ 62 ​ 62 ​ — Consumer ​ — ​ — ​ — ​ — ​ 39 ​ 39 ​ — ​ ​ $ — ​ $ 606 ​ $ 3,577 ​ $ 4,183 ​ $ 831,583 ​ $ 835,766 ​ $ — ​ Age Analysis of Past Due Loans as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ > 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,170 ​ $ 6,170 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 90,506 ​ 90,506 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 30,508 ​ 30,508 ​ — Non-residential real estate ​ — ​ — ​ 3,572 ​ 3,572 ​ 57,093 ​ 60,665 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 545,788 ​ 545,788 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 90,577 ​ 90,577 ​ — Overdrafts ​ — ​ — ​ — ​ — ​ 452 ​ 452 ​ — Consumer ​ — ​ — ​ — ​ — ​ 42 ​ 42 ​ — ​ ​ $ — ​ $ — ​ $ 3,572 ​ $ 3,572 ​ $ 821,136 ​ $ 824,708 ​ $ — ​ The following tables provide certain information related to the credit quality of our loan portfolio. Credit Risk Profile by Internally Assigned Grade as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Overdrafts Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 124,843 ​ $ 54,404 ​ $ 563,239 ​ $ 89,317 ​ $ 39 ​ $ 62 ​ $ 831,904 Special Mention ​ — ​ — ​ — ​ 285 ​ — ​ — ​ 285 Substandard ​ — ​ 3,577 ​ — ​ — ​ — ​ — ​ 3,577 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 124,843 ​ $ 57,981 ​ $ 563,239 ​ $ 89,602 ​ $ 39 ​ $ 62 ​ $ 835,766 ​ Credit Risk Profile by Internally Assigned Grade as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Overdrafts Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 127,184 ​ $ 56,943 ​ $ 545,788 ​ $ 90,276 ​ $ 42 ​ $ 452 ​ $ 820,685 Special Mention ​ — ​ — ​ — ​ 301 ​ — ​ — ​ 301 Substandard ​ — ​ 3,722 ​ — ​ — ​ — ​ — ​ 3,722 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 127,184 ​ $ 60,665 ​ $ 545,788 ​ $ 90,577 ​ $ 42 ​ 452 ​ $ 824,708 ​ Troubled Debt Restructuring: The following table shows our recorded investment for loans classified as a troubled debt restructuring (a “TDR”) that are performing according to their restructured terms at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2021 ​ 2020 ​ ​ ​ Number of ​ Recorded ​ Number of ​ Recorded ​ ​ contracts Investment contracts Investment ​ ​ ​ (Dollars in Thousands) ​ Multi-family 1 ​ $ 1,089 1 ​ $ 1,098 ​ Mixed-use 2 ​ 905 2 ​ 911 ​ Non-residential real estate 2 ​ 762 2 ​ 739 ​ Total performing 5 ​ $ 2,756 5 ​ $ 2,748 ​ ​ The following is a summary of interest foregone on loans classified as a TDR for the periods ended March 31, 2021 and March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ ​ (In Thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms ​ $ 44 ​ $ 46 Less: Interest income included in the results of operations ​ 30 ​ 31 Total foregone interest ​ $ 14 ​ $ 15 ​ There were no loans modified that were deemed to be a TDR during the three months ended March 31, 2021 and 2020. During the three months ended March 31, 2021 and 2020, none of the loans that were modified during the previous twelve months had defaulted. ​ The CARES Act includes a provision for the Company to opt out of applying the “troubled-debt restructuring” (“TDR”) accounting guidance in ASC 310- 40 for certain loan modifications. Loan modifications made between March 1, 2020 and the earlier of  (1) December 30, 2020 or (2) 60 days after the President declares a termination of the COVID-19 national emergency are eligible for this relief if the related loans were not more than 30 days past due as of December 31, 2020. As of March 31, 2021, we had

Real Estate Owned ("REO")

Real Estate Owned ("REO")	3 Months Ended
	Mar. 31, 2021
Real Estate Owned ("REO")
Real Estate Owned ("REO")	Note 7 — Real Estate Owned (“REO”) The Company owned one foreclosed property valued at approximately $1,996,000 and $1,996,000 at March 31, 2021 and December 31, 2020, respectively, consisting of an office building located in Pennsylvania. The property was acquired through foreclosure in December 2014. Further declines in real estate values may result in impairment charges in the future. Routine holding costs are charged to expense as incurred and improvements to real estate owned that enhance the value of the real estate are capitalized. REO expense recorded in the consolidated statements of income amounted to $41,000 and $47,000 during the three months ended March 31, 2021 and 2020.

Federal Home Loan Bank of New Y

Federal Home Loan Bank of New York ("FHLB") Advances	3 Months Ended
	Mar. 31, 2021
Federal Home Loan Bank of New York ("FHLB") Advances
Federal Home Loan Bank of New York ("FHLB") Advances	Note 8 — Federal Home Loan Bank of New York (“FHLB”) Advances FHLB advances are summarized as follows at March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2021 ​ 2020 ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ Amount ​ Interest Rate ​ Amount ​ Interest Rate ​ ​ ​ (Dollars in Thousands) ​ Advances maturing in: ​ ​ ​ ​ One year or less ​ $ 7,000 ​ 2.79 % $ — ​ — % ​ After one to three years ​ ​ 14,000 2.85 % ​ 14,000 2.81 % ​ After three to four years ​ — — % 7,000 2.86 % ​ After four to five years ​ — — % — — % ​ After five years (due 2030) ​ 7,000 1.61 % 7,000 1.61 % ​ ​ ​ $ 28,000 2.43 % $ 28,000 2.52 % ​ ​ At March 31, 2021, none of the above advances were subject to early call or redemption features. All advances had fixed interest rates and the term of the advance ranges between 2 . At March 31, 2021, the advances were secured by a pledge of the Company’s investment in the capital stock of the FHLB and a blanket assignment of the Company’s otherwise unpledged qualifying mortgage loans. At March 31, 2021, these unpledged qualifying mortgage loans were not pledged to any company other than the FHLB. At March 31, 2021, the Company had the ability to borrow

Benefits Plans

Benefits Plans	3 Months Ended
	Mar. 31, 2021
Benefits Plans
Benefits Plans	​ ​ Note 9 — Benefits Plans Outside Director Retirement Plan (“DRP”) The DRP is an unfunded non-contributory defined benefit pension plan covering all non-employee directors meeting eligibility requirements as specified in the plan document. The following table sets forth information regarding the components of net pension periodic expense measured as of March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ ​ (Dollars In Thousands) Net periodic pension expense: ​ ​ ​ Service cost ​ $ 33 ​ $ 31 Interest cost ​ 10 ​ 10 Actuarial loss recognized ​ 8 ​ 3 Prior service cost recognized ​ — ​ 4 Total net periodic pension expense included in other non-interest expenses ​ $ 51 ​ $ 48 ​ At March 31, 2021 and 2020, unrecognized net loss of $7,000 and $4,000, respectively, was included in accumulated other comprehensive income. Supplemental Executive Retirement Plan (“SERP”) The SERP is a non-contributory defined benefit plan that covers certain officers of the Company. Under the SERP, each of these individuals will be entitled to receive upon retirement an annual benefit paid in monthly installments equal to 50% of his average base salary in the three-year period preceding retirement. Each individual may also retire early and receive a reduced benefit upon the attainment of certain age and years of service combination. Additional terms related to death while employed, death after retirement, disability before retirement and termination of employment are fully described within the plan document. The benefit payment term is the greater of 15 years or the executives remaining life. No benefits next five years During the three months ended March 31, 2021 and 2020, expenses of  $95,000 and $50,000, respectively, were recorded for this plan and are reflected in the Consolidated Statements of Operations under Salaries and Employee Benefits. 401(k) Plan The Company maintains a 401(k) plan for all eligible employees. Participants are permitted to contribute from 1% to 15% of their annual compensation up to the maximum permitted under the Internal Revenue Code. The Company provided no matching contribution during the three months ended March 31, 2021 and 2020. Employee Stock Ownership Plan (“ESOP”) In conjunction with Company’s initial public stock offering, the Bank established an ESOP for all eligible employees (substantially all full-time employees). The ESOP borrowed $5,184,200 from the Company and used those funds to acquire 518,420 shares of Company common stock at $10.00 per share. The loan from the Company carries an interest rate of 8.25% and is repayable in twenty annual installments through 2025. Each year, the Bank makes discretionary contributions to the ESOP equal to the principal and interest payment required on the loan from the Company. The ESOP may further pay down the principal balance of the loan by using dividends paid, if any, on the shares of Company common stock it owns. The balance remaining on the ESOP loan was $2,051,000 and $2,051,000 at March 31, 2021 and December 31, 2020, respectively. Shares purchased with the loan proceeds serve as collateral for the loan and are held in a suspense account for future allocation among ESOP participants. As the loan principal is repaid, shares will be released from the suspense account and become eligible for allocation. The allocation among plan participants will be as described in the ESOP governing document. ESOP shares initially pledged as collateral were recorded as unearned ESOP shares in the stockholders’ equity section of the consolidated statement of financial condition. Thereafter, on a monthly basis over a 240 month period, approximately 2,160 shares are committed to be released and compensation expense is recorded equal to the shares committed to be released multiplied by the average closing price of the Company’s stock during that month. ESOP expense during the three months ended March 31, 2021 and 2020, totaled approximately $97,000 and $72,000, respectively. Dividends on unallocated shares, which totaled approximately $5,000 and $5,000 during three months ended March 31, 2021 and 2020, respectively, are recorded as a reduction of the ESOP loan. Dividends on allocated shares, which totaled approximately $12,000 and $10,000 during March 31, 2021 and December 31, 2020, respectively, are charged to retained earnings. ESOP shares are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2021 ​ 2020 ​ Allocated shares ​ ​ 369,374 ​ 362,894 ​ Shares committed to be released ​ ​ 25,921 ​ 25,921 ​ Unearned shares ​ ​ 103,684 ​ 129,605 ​ Total ESOP Shares ​ ​ 498,979 ​ 518,420 ​ Less allocated shares distributed to former or retired employees ​ ​ (76,509) ​ (76,509) ​ Total ESOP Shares Held by Trustee ​ ​ 422,470 ​ 441,911 ​ Fair value of unearned shares ​ $ 1,658,944 ​ $ 1,684,865 ​ ​

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases
Leases	Note 10 — Leases The Company has operating leases and finance leases all comprised of real estate property. The operating leases comprise substantially all of the Company’s obligations in which the Company is the lessee, with remaining lease terms ranging between 2 5 The Company adopted ASU 2016-02 on January 1. 2019. As a result of the adoption, the Company recognized operating and financing lease assets and corresponding lease liabilities related to office facilities and retail branches. The operating and financing lease assets represent the Company’s right to use an underlying asset for the lease term, and the lease liability represents the Company’s obligation to make lease payments over the lease term. The Company has elected that any short term leases would be expensed as incurred. The operating and financing lease asset and lease liability are determined at the commencement date of the lease based on the present value of the lease payments. Our leases do not provide an implicit interest rate. The company used its incremental borrowing rate, the rate of interest to borrow in a collateralized basis for a similar term, at the lease commencement date. For leases in existence prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. All of the leases are net leases and, therefore, do not contain non-lease components. The Company either pays directly or reimburses the lessor for property and casualty insurance cost and the property taxes assessed on the property, as well as a portion of the common area maintenance associated with the property which are categorized as non-components as outlined in the applicable guidance. At March 31, 2021 and December 31, 2020, the quantitative data relating to the Company’s leases are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2021 ​ 2020 Finance Lease Amounts: ​ ​ ​ ROU asset ​ $ 362 ​ $ 363 ​ Lease liability ​ $ 469 ​ $ 460 ​ Operating Lease Amounts: ​ ​ ​ ​ ROU assets ​ $ 2,962 ​ $ 3,094 ​ Lease liabilities ​ $ 2,989 ​ $ 3,115 ​ Weighted-average remaining lease term ​ ​ ​ Finance lease ​ 95 years ​ 96 years ​ Operating leases ​ 7.45 ​ 7.61 ​ Weighted-average discount rate ​ ​ ​ Finance lease ​ 9.50 % 9.50 % Operating leases ​ 1.27 % 1.34 % ​ The components of lease expense and cash flow information related to leases as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ ​ (Dollars In Thousands) ​ Finance Lease Cost ​ ​ ​ ​ ​ ​ ​ Amortization of ROU asset ​ $ 1 ​ $ 1 ​ Interest on lease liability ​ $ 9 ​ $ 9 ​ Operating Lease Costs ​ $ 142 ​ $ 111 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Finance lease ​ $ — ​ $ — ​ Operating leases ​ $ 135 ​ $ 109 ​ ​ Maturities of lease liabilities at March 31, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2021 ​ $ 410 ​ $ 30 2022 ​ 549 ​ 30 2023 ​ 423 ​ 30 2024 ​ 333 ​ 30 2025 ​ 302 ​ 30 Thereafter ​ 1,110 ​ 4,164 Total lease payments ​ $ 3,127 ​ $ 4,314 Interest ​ (138) ​ (3,845) Lease liability ​ $ 2,989 ​ $ 469 ​

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures
Fair Value Disclosures	Note 11 — Fair Value Disclosures The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company’s securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company has to record at fair value other assets and liabilities on a non-recurring basis, such as securities held to maturity, impaired loans and other real estate owned. U.S. GAAP has established a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following table sets forth the Company’s assets that are carried at fair value on a recurring basis and the level that was used to determine their fair value at March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Recurring Basis ​ ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, Description 2021 2020 2021 2020 2021 2020 2021 2020 Assets: ​ ​ ​ ​ ​ ​ ​ ​ Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ Mutual funds ​ $ 10,178 ​ $ 10,332 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 10,178 ​ $ 10,332 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ FHLMC ​ — ​ — ​ 2 ​ 2 ​ — ​ — ​ 2 ​ 2 Total assets ​ $ 10,178 ​ $ 10,332 ​ $ 2 ​ $ 2 ​ $ — ​ $ — ​ $ 10,180 ​ $ 10,334 ​ There were no transfers between Level 1 and 2 during the periods March 31, 2021 or December 31, 2020. The Company did not have any liabilities that were carried at fair value on a recurring basis at March 31, 2021 and December 31, 2020. The following table sets forth the Company’s assets that are carried at fair value on a non-recurring basis and the level that was used to determine their fair value, at March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Non-Recurring Basis ​ ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, Description 2021 2020 2021 2020 2021 2020 2021 2020 ​ (In Thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 150 ​ $ — ​ $ 150 Real estate owned ​ — ​ — ​ — ​ — ​ — ​ 1,996 ​ — ​ 1,996 Total assets ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,146 ​ $ — ​ $ 2,146 ​ The following tables present the qualitative information about non-recurring Level 3 fair value measurements of financial instruments at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 ​ Fair Valuation Unobservable ​ Weighted ​ ​ Value ​ Technique ​ Input ​ Range ​ Average ​ ​ (In Thousands) Assets: ​ ​ ​ Impaired loans ​ $ 150 Income approach Capitalization rate 7.50 % 7.50 % Real estate owned ​ 1,996 Income approach Capitalization rate 8.40 % 8.40 % ​ The Company did not have any liabilities that were carried at fair value on a non-recurring basis at March 31, 2021 and December 31, 2020. The methods and assumptions used to estimate fair value at March 31, 2021 and December 31, 2020 are as follows: For real estate owned, fair value is generally determined through independent appraisals or fair value estimations of the underlying properties which generally include various Level 3 inputs which are not identifiable. The appraisals or fair value estimation may be adjusted by management for qualitative reasons and estimated liquidation expenses. Management’s assumptions may include consideration of location and occupancy of the property and current economic conditions. Subsequently, as these properties are actively marketed, the estimated fair values may be periodically adjusted through incremental subsequent write-downs to reflect decreases in estimated values resulting from sales price observations and the impact of changing economic and market conditions. A loan is considered impaired when, based upon current information and events; it is probable that the Company will be unable to collect all scheduled payments in accordance with the contractual terms of the loan. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves, a component of the allowance for loan losses or through partial charge-offs, and as such are carried at the lower of cost or the fair value. Estimates of fair value of the collateral are determined based on a variety of information, including available valuations from certified appraisers for similar assets, present value of discounted cash flows and inputs that are estimated based on commonly used and generally accepted industry liquidation advance rates and estimates and assumptions developed by management. The appraisals may be adjusted by management for estimated liquidation expenses and qualitative factors such as economic conditions. If real estate is not the primary source of repayment, present value of discounted cash flows and estimates using generally accepted industry liquidation advance rates are utilized. Due to the multitude of assumptions, many of which are subjective in nature, and the varying inputs and techniques used by appraisers, the Company recognizes that valuations could differ across a wide spectrum of valuation techniques employed and accordingly, fair value estimates for impaired loans are classified as Level 3. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective year-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each year-end. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at March 31, 2021 and December 31, 2020: Securities Fair values for marketable equity securities are determined by quoted market prices on nationally recognized and foreign securities exchanges (Level 1). Fair values for securities available for sale and held to maturity are determined utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayments speeds, credit information and the security’s terms and conditions, among other things. The carrying amounts and estimated fair value of our financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 55,866 ​ $ 55,866 ​ $ 55,866 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 10,178 ​ ​ 10,178 ​ ​ 10,178 ​ ​ — ​ ​ — Securities available for sale ​ ​ 2 ​ ​ 2 ​ ​ — ​ ​ 2 ​ ​ — Securities held to maturity ​ ​ 6,939 ​ ​ 7,038 ​ ​ — ​ ​ 7,038 ​ ​ — Loans receivable ​ ​ 835,766 ​ ​ 838,734 ​ ​ — ​ ​ — ​ ​ 838,734 Investments in restricted stock ​ ​ 1,595 ​ ​ 1,595 ​ ​ — ​ ​ 1,595 ​ ​ — Accrued interest receivable ​ ​ 3,887 ​ ​ 3,887 ​ ​ — ​ ​ 3,887 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 765,004 ​ ​ 767,816 ​ ​ — ​ ​ 767,816 ​ ​ — FHLB of New York advances ​ ​ 28,000 ​ ​ 28,745 ​ ​ — ​ ​ 28,745 ​ ​ — Accrued interest payable ​ ​ 33 ​ ​ 33 ​ ​ — ​ ​ 33 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 69,191 ​ $ 69,191 ​ $ 69,191 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 10,332 ​ ​ 10,332 ​ ​ 10,332 ​ ​ — ​ ​ — Securities available for sale ​ ​ 2 ​ ​ 2 ​ ​ — ​ ​ 2 ​ ​ — Securities held to maturity ​ ​ 7,382 ​ ​ 7,519 ​ ​ — ​ ​ 7,519 ​ ​ — Loans receivable ​ ​ 819,733 ​ ​ 823,996 ​ ​ — ​ ​ — ​ ​ 823,996 Investments in restricted stock ​ ​ 1,595 ​ ​ 1,595 ​ ​ — ​ ​ 1,595 ​ ​ — Accrued interest receivable ​ ​ 3,838 ​ ​ 3,838 ​ ​ — ​ ​ 3,838 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 771,706 ​ ​ 776,413 ​ ​ — ​ ​ 776,413 ​ ​ — FHLB of New York advances ​ ​ 28,000 ​ ​ 29,292 ​ ​ — ​ ​ 29,292 ​ ​ — Accrued interest payable ​ ​ 8 ​ ​ 8 ​ ​ — ​ ​ 8 ​ ​ — ​

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue Recognition
Revenue Recognition	Note 12 — Revenue Recognition Effective January 1, 2019, the Company adopted Accounting Standards Update (ASU) 2014-09 Revenue from Contracts with Customers The Company, using a modified retrospective transition approach, determined that there was no cumulative effect adjustment to retained earnings as a result of adopting the new standard, nor did the standard have a material impact on our consolidated financial statements including the timing or amounts of revenue recognized. A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as referral fees based month end reports. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of March 31, 2021, the Company did not have any significant contract balances. All of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s sources of noninterest income for the three months ended March 31, 2021 and 2020. Sources of revenue outside the scope of ASC 606 are noted as such: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Non-interest income: ​ ​ ​ ​ Deposit-related fees and charges ​ $ 17 ​ $ 24 ​ Loan-related fees and charges (1) ​ 148 ​ 156 ​ Electronic banking fees and charges ​ 157 ​ 90 ​ (Loss) Gain on disposition of equipment (1) ​ — ​ — ​ Income from bank owned life insurance (1) ​ 147 ​ 156 ​ Investment advisory fees ​ 118 ​ 114 ​ Unrealized gain (loss) on equity securities (1) ​ (155) ​ 206 ​ Miscellaneous (1) ​ 11 ​ 136 ​ Total non-interest income ​ $ 443 ​ $ 882 ​ (1) Not within the scope of ASC 606. A description of the Company’s revenue streams accounted for under ASC 606 is as follows: Service Charges on Deposit Accounts The Company earns fees from deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed at the point in the time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Electronic Banking Fee Income The Company earns interchange fees from debit and credit card holder transactions conducted through various payment networks. Interchange fees from cardholder transactions are recognized daily, concurrently with the transaction processing services provided by an outsourced technology solution. Investment Advisory Fees The Company earns fees from investment advisory and financial planning services under the name of Harbor West Financial Planning Wealth Management, a division of the Company through a networking arrangement with a registered broker-dealer and investment advisor. The registered broker-dealer deducts investment advisory fees and financial planning services fees from the client’s assets under management and remits the fees, net of administrative fees, to the Company on a monthly basis. The Company recognizes the fees into non-interest income upon receipt of the monthly remittances.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 13 — Recent Accounting Pronouncements Accounting Standards Pending Adoption: ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU No. 2016-13 "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which requires credit losses on most financial assets to be measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments but not expected extensions or modifications unless reasonable expectation of a troubled debt restructuring exists) from the date of initial recognition of that instrument. The ASU also replaces the current accounting model for purchased credit impaired loans and debt securities. The allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination ("PCD assets") should be determined in a similar manner to other financial assets measured on an amortized cost basis. Upon initial recognition, the allowance for credit losses is added to the purchase price ("gross up approach") to determine the initial amortized cost basis. The subsequent accounting for PCD assets will use the CECL model described above. The ASU made certain targeted amendments to the existing impairment model for available-for-sale (AFS) debt securities. For an AFS debt security for which there is neither the intent nor a more-likely-than-not requirement to sell, an entity will record credit losses as an allowance rather than a write-down of the amortized cost basis. As amended, ASU No. 2016-13 and any related amending ASUs No. 2019-04, 2019-11, and 2020-03 are effective for entities qualifying as smaller reporting companies for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted for all entities as of the fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. The Company has begun collecting and evaluating data and system requirements to implement this standard. The adoption of this update could have a material impact on the Company’s consolidated results of operations and financial condition. The extent of the impact is still unknown and will depend on many factors, such as the composition of the Company’s loan portfolio and expected loss history at adoption. Management has engaged consultants to assess the preparedness of the Company for evaluating and implementing CECL. ASU 2020-03 - Codification Improvements to Financial Instruments In March 2020, the FASB issued ASU No. 2020-03, “Codification Improvements to Financial Instruments.” This ASU clarifies various financial instruments topics, including the CECL standard issued in 2016. Amendments related to ASU 2016-13 for entities that have not yet adopted that guidance are effective upon adoption of the amendments in ASU 2016-13. Early adoption is not permitted before an entity’s adoption of ASU 2016-13. Other amendments are effective upon issuance of this ASU. See the discussion regarding the adoption of ASU 2016-13 above. ​ ASU 2020-04 - Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848)" which provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships that reference LIBOR or another reference rate expected to be discontinued, subject to meeting certain criteria. Under the new guidance, an entity can elect by accounting topic or industry subtopic to account for the modification of a contract affected by reference rate reform as a continuation of the existing contract, if certain conditions are met. In addition, the new guidance allows an entity to elect on a hedge-by-hedge basis to continue to apply hedge accounting for hedging relationships in which the critical terms change due to reference rate reform, if certain conditions are met. A one-time election to sell and/or transfer held-to-maturity debt securities that reference a rate affected by reference rate reform is also allowed. ASU No. 2020-04 became effective for all entities as of March 12, 2020 and will apply to all LIBOR reference rate modifications through December 31, 2022. ASU 2021-01 - Reference Rate Reform (Topic 848) In January 2021, the FASB issued ASU No. 2021-01, "Reference Rate Reform (Topic 848)". The amendments in this update clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Specifically, certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. Amendments in this update to the expedients and exceptions in Topic 848 capture the incremental consequences of the scope clarification and tailor the existing guidance to derivative instruments affected by the discounting transition. ASU No. 2021-01 became immediately effective for all entities, which may elect to apply the update retrospectively as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively to new modifications from any date within an interim period that includes or is subsequent to the issuance date of ASU No. 2021-01 up to the date that financial statements are available to be issued. In addition, ASU No.2021-01 applies to all contract modifications made through December 31, 2022. We are evaluating the impacts of this ASU and have not yet determined whether LIBOR transition and this ASU will have material effects on our business operations and consolidated financial statements. The amendments in this Update apply to contract modifications that replace a reference rate reform and contemporaneous modifications of other terms related to the replacement of the reference rate.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events
Subsequent Events	Note 14 — Subsequent Events The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Summary of Significant Accounting Policies
Nature of Business	Nature of Business: Northeast Community Bancorp, Inc. (the “Company”) is a Federally-chartered corporation that was organized to be a mid-tier holding company for Northeast Community Bank (the “Bank”) in conjunction with the Bank’s reorganization from a mutual savings bank to a mutual holding company structure on July 5, 2006. The Bank is a New York State-chartered savings bank and completed its conversion from a federally-chartered savings bank effective as of the close of business on June 29, 2012. The Company’s primary activity is the ownership and operation of the Bank. The Bank is headquartered in White Plains, New York. The Bank was founded in 1934 and is a community oriented financial institution dedicated to serving the financial services needs of individuals and businesses within its market area. The Bank currently conducts business through its nine branch offices located in Bronx, New York, Orange, Rockland and Westchester Counties in New York and Essex, Middlesex and Norfolk Counties in Massachusetts and three loan production offices located in White Plains, New York, New City, New York and Danvers, Massachusetts. The Bank’s principal business consists of originating primarily construction loans and, to a lesser extent, commercial and industrial loans and multifamily and mixed-use residential real estate loans and non-residential real estate loans. The Bank offers a variety of retail deposit products to the general public in the areas surrounding its main office and its branch offices, with interest rates that are competitive with those of similar products offered by other financial institutions operating in its market area. The Bank also utilizes borrowings as a source of funds. The Bank’s revenues are derived primarily from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities. The Bank also generates revenues from other income including deposit fees, service charges and investment advisory fees. The Bank also offers investment advisory and financial planning services under the name Harbor West Wealth Management Group, a division of the Bank, through a networking arrangement with a registered broker-dealer and investment advisor. New England Commercial Properties LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2007 to facilitate the purchase or lease of real property by the Bank. New England Commercial Properties, LLC currently owns one foreclosed property located in Pennsylvania. NECB Financial Services Group, LLC (“NECB Financial”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in the third quarter of 2012 as a complement to Harbor West Wealth Management Group to sell life insurance and fixed rate annuities. NECB Financial is licensed in the States of New York and Connecticut. 72 West Eckerson LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2015 to facilitate the purchase or lease of real property by the Bank and currently owns the branch locations in Spring Valley, New York and Monroe, New York. 166 Route 59 Realty LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the property for a proposed branch located in Airmont, New York.
Principles of Consolidation	Principal of Consolidations: The accompanying unaudited consolidated financial statements include the accounts of the Company, the Bank, NECP, NECB Financial, 72 West Eckerson, and 166 Route 59 Realty (collectively the “Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant inter-company accounts and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company and its subsidiaries conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements have been condensed or omitted pursuant to such rules and regulations. The unaudited consolidated interim financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the prospectus of NorthEast Community Bancorp, Inc., filed with the SEC pursuant to Rule 424(b)(3) on May 24, 2021. In the opinion of the Company, all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the operating results for the interim periods have been included. The results of operations for periods of less than a year are not necessarily indicative of results for the full year.
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 financial statements, and reported amounts of revenue and expenses during the reporting period. Estimates that are particularly susceptible to change in the near term, including novel coronavirus (“COVID-19”) related changes, are used in connection with the determination of the allowance for loan losses, the review of the need for a valuation allowance of the Company’s deferred tax assets and the fair value of financial instruments.

Mutual Holding Company Reorga_2

Mutual Holding Company Reorganization and Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2021
Mutual Holding Company Reorganization and Regulatory Matters
Schedule of bank's capital levels	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Regulatory Capital Requirements ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ For Classification as ​ ​ Actual ​ Adequacy(1) ​ Well-Capitalized ​ Amount Ratio Amount Ratio Amount Ratio ​ ​ (Dollars in Thousands) As of March 31, 2021: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 147,809 14.04 % $ $≥84,248 ≥8.00 % $ $≥105,310 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 142,735 13.55 ​ ≥63,186 ≥6.00 ​ ≥84,248 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 142,735 13.55 ​ ≥47,389 ≥4.50 ​ ≥68,451 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 142,735 14.96 ​ ≥38,174 ≥4.00 ​ ≥47,717 ≥5.00 ​ As of December 31, 2020: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 143,021 13.72 % $ $≥83,399 ≥8.00 % $ $≥104.249 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 137,962 13.23 ​ ≥62,550 ≥6.00 ​ ≥83,399 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 137,962 13.23 ​ ≥46,912 ≥4.50 ​ ≥67,762 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 137,962 14.79 ​ ≥37,304 ≥4.00 ​ ≥46,629 ≥5.00 ​ (1) Ratios do not include the capital conservation buffer.

Equity Securities (Tables)

Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Securities
Schedule of equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Equity Securities, at Fair Value ​ $ 10,178 ​ $ 10,332 ​
Schedule of unrealized gains recognized in net income on equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Unrealized net gain (loss) recognized during the reporting period ​ ​ ​ ​ ​ ​ ​ on equity securities still held at the reporting date ​ $ (155) ​ $ 206 ​

Securities Available-for-Sale (

Securities Available-for-Sale (Tables)	3 Months Ended
	Mar. 31, 2021
Securities Available-for-Sale
Schedule of portfolio of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 2 ​ $ — ​ $ — ​ $ 2 ​ ​ $ 2 ​ $ — ​ $ — ​ $ 2
Schedule of contractual final maturities of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ Amortized Cost Fair Value ​ ​ (In Thousands) Due after one year but with five years ​ $ 2 ​ $ 2 ​ ​ $ 2 ​ $ 2

Securities Held-to-Maturity (Ta

Securities Held-to-Maturity (Tables)	3 Months Ended
	Mar. 31, 2021
Securities Held-to-Maturity
Summary of securities held-to-maturity portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 4,189 ​ $ — ​ $ — ​ $ 4,189 Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 835 ​ $ 26 ​ $ — ​ $ 861 Federal Home Loan Mortgage Corporation ​ 57 ​ — ​ 1 ​ 56 Federal National Mortgage Association ​ 959 ​ 35 ​ — ​ 994 Collateralized mortgage obligations – GSE ​ 899 ​ 39 ​ — ​ 938 ​ ​ $ 2,750 ​ $ 100 ​ $ 1 ​ $ 2,849 ​ ​ $ 6,939 ​ $ 100 ​ $ 1 ​ $ 7,038 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 4,189 ​ $ — ​ $ — ​ $ 4,189 Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 933 ​ $ 25 ​ $ — ​ $ 958 Federal Home Loan Mortgage Corporation ​ 59 ​ — ​ 1 ​ 58 Federal National Mortgage Association ​ 1,097 ​ 45 ​ — ​ 1,142 Collateralized mortgage obligations – GSE ​ 1,104 ​ 68 ​ — ​ 1,172 ​ ​ $ 3,193 ​ 138 ​ 1 ​ $ 3,330 ​ ​ $ 7,382 ​ $ 138 ​ $ 1 ​ $ 7,519
Schedule of contractual final maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Amortized ​ Fair ​ Cost Value ​ (In Thousands) Due within one year ​ $ 4,150 ​ $ 4,175 Due after one but within five years ​ 949 ​ 949 Due after five but within ten years ​ — ​ — Due after ten years ​ 1,840 ​ 1,914 ​ ​ $ 6,939 ​ $ 7,038
Schedule of unrealized losses and the fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) March 31, 2021: ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ $ 42 ​ $ 1 ​ ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ $ 42 ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) December 31, 2020: ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 42 ​ $ 1 ​ $ — ​ $ — ​ $ 42 ​ $ 1 ​ ​ $ 42 ​ $ 1 ​ $ — ​ $ — ​ $ 42 ​ $ 1

Loans Receivable and the Allo_2

Loans Receivable and the Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2021
Loans Receivable and the Allowance for Loan Losses
Summary of composition of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Residential real estate: ​ ​ ​ One-to-four family ​ $ 5,708 ​ $ 6,170 ​ Multi-family ​ 90,022 ​ 90,506 ​ Mixed-use ​ 29,113 ​ 30,508 ​ Total residential real estate ​ 124,843 ​ 127,184 ​ Non-residential real estate ​ 57,981 ​ 60,665 ​ Construction ​ 563,239 ​ 545,788 ​ Commercial and industrial ​ 89,602 ​ 90,577 ​ Overdrafts ​ 62 ​ 452 ​ Consumer ​ 39 ​ 42 ​ Total Loans ​ 835,766 ​ 824,708 ​ Allowance for loan losses ​ (5,102) ​ (5,088) ​ Deferred loan (fees) costs, net ​ 252 ​ 113 ​ ​ ​ $ 830,916 ​ $ 819,733 ​
Schedule of analysis of the activity in the allowance for loan losses	At March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Overdraft Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 699 ​ $ 501 ​ $ 3,144 ​ $ 756 ​ $ — ​ $ 2 ​ $ — ​ $ 5,102 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 699 ​ $ 501 ​ $ 3,144 ​ $ 756 ​ $ — ​ $ 2 ​ $ — ​ $ 5,102 Loans receivable: ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 124,843 ​ $ 57,981 ​ $ 563,239 ​ $ 89,602 ​ $ 39 ​ $ 62 ​ $ — ​ $ 835,766 Ending balance: individually evaluated for impairment ​ $ 1,995 ​ $ 4,340 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,335 Ending balance: collectively evaluated for impairment ​ $ 122,848 ​ $ 53,641 ​ $ 563,239 ​ $ 89,602 ​ $ 39 ​ $ 62 ​ $ — ​ $ 829,431 At December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Overdraft ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 707 ​ $ 519 ​ $ 3,068 ​ $ 774 ​ $ — ​ $ 20 ​ $ — ​ $ 5,088 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 707 ​ $ 519 ​ $ 3,068 ​ $ 774 ​ $ — ​ $ 20 ​ $ — ​ $ 5,088 Loans receivable: ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 127,184 ​ $ 60,665 ​ $ 545,788 ​ $ 90,577 ​ $ 42 ​ $ 452 ​ $ — ​ $ 824,708 Ending balance: individually evaluated for impairment ​ $ 2,009 ​ $ 4,461 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,470 Ending balance: collectively evaluated for impairment ​ $ 125,175 ​ $ 56,204 ​ $ 545,788 ​ $ 90,577 ​ $ 42 ​ $ 452 ​ $ — ​ $ 818,238 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Overdraft Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - January 1, 2021 ​ $ 707 ​ $ 519 ​ $ 3,068 ​ $ 774 ​ $ — ​ $ 20 ​ $ — ​ $ 5,088 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ (11) ​ — ​ (11) Recoveries ​ — ​ — ​ — ​ — ​ — ​ 8 ​ — ​ 8 Provision (Benefit) ​ (8) ​ (18) ​ 76 ​ (18) ​ — ​ (15) ​ — ​ 17 Balance - March 31, 2021 ​ $ 699 ​ $ 501 ​ $ 3,144 ​ $ 756 ​ $ — ​ $ 2 ​ $ — ​ $ 5,102 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Overdraft ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ Balance - January 1, 2020 ​ $ 605 ​ $ 503 ​ $ 2,692 ​ $ 566 ​ $ — ​ $ 71 ​ $ 174 ​ $ 4,611 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ (1) ​ — ​ (1) Recoveries ​ 1 ​ — ​ — ​ 15 ​ — ​ — ​ — ​ 16 Provision (Benefit) ​ — ​ — ​ 8 ​ 6 ​ — ​ — ​ — ​ 14 Balance - March 31, 2020 ​ $ 606 ​ $ 503 ​ $ 2,700 ​ $ 587 ​ $ — ​ $ 70 ​ $ 174 ​ $ 4,640
Summary of recorded investment, unpaid principal balance and allocated allowance for loan losses for loans that were considered impaired	As of and for the Three Months Ended March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2021 ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ $ 1,995 ​ $ 1,995 ​ $ — ​ $ 2,002 ​ $ 21 Non-residential real estate ​ 4,340 ​ 4,340 ​ — ​ 4,401 ​ 9 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 6,335 ​ 6,335 ​ — ​ 6,403 ​ 30 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 1,995 ​ 1,995 ​ — ​ 2,002 ​ 21 Non-residential real estate ​ 4,340 ​ 4,340 ​ — ​ 4,401 ​ 9 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 6,335 ​ $ 6,335 ​ $ — ​ $ 6,403 ​ $ 30 ​ As of and for the Year Ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2020 ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ $ 2,009 ​ $ 2,009 ​ $ — ​ $ 2,666 ​ $ 87 Non-residential real estate ​ 4,461 ​ 4,526 ​ — ​ 4,371 ​ 50 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 6,470 ​ 6,535 ​ — ​ 7,037 ​ 137 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 2,009 ​ 2,009 ​ — ​ 2,666 ​ 87 Non-residential real estate ​ 4,461 ​ 4,526 ​ — ​ 4,371 ​ 50 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 6,470 ​ $ 6,535 ​ $ — ​ $ 7,037 ​ $ 137
Summary of loans receivable on nonaccrual status	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ 2021 2020 ​ ​ (In Thousands) Non-residential real estate ​ 3,577 ​ 3,572 ​ ​ $ 3,577 ​ $ 3,572
Schedule of age analysis of past due loans	Age Analysis of Past Due Loans as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment > ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,708 ​ $ 5,708 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 90,022 ​ 90,022 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 29,113 ​ 29,113 ​ — Non-residential real estate ​ — ​ — ​ 3,577 ​ 3,577 ​ 54,404 ​ 57,981 ​ — Construction loans ​ — ​ 606 ​ — ​ 606 ​ 562,633 ​ 563,239 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 89,602 ​ 89,602 ​ — Overdrafts ​ — ​ — ​ — ​ — ​ 62 ​ 62 ​ — Consumer ​ — ​ — ​ — ​ — ​ 39 ​ 39 ​ — ​ ​ $ — ​ $ 606 ​ $ 3,577 ​ $ 4,183 ​ $ 831,583 ​ $ 835,766 ​ $ — ​ Age Analysis of Past Due Loans as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ > 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 6,170 ​ $ 6,170 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 90,506 ​ 90,506 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 30,508 ​ 30,508 ​ — Non-residential real estate ​ — ​ — ​ 3,572 ​ 3,572 ​ 57,093 ​ 60,665 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 545,788 ​ 545,788 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 90,577 ​ 90,577 ​ — Overdrafts ​ — ​ — ​ — ​ — ​ 452 ​ 452 ​ — Consumer ​ — ​ — ​ — ​ — ​ 42 ​ 42 ​ — ​ ​ $ — ​ $ — ​ $ 3,572 ​ $ 3,572 ​ $ 821,136 ​ $ 824,708 ​ $ —
Summary of credit risk profile by internally assigned grade	Credit Risk Profile by Internally Assigned Grade as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Overdrafts Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 124,843 ​ $ 54,404 ​ $ 563,239 ​ $ 89,317 ​ $ 39 ​ $ 62 ​ $ 831,904 Special Mention ​ — ​ — ​ — ​ 285 ​ — ​ — ​ 285 Substandard ​ — ​ 3,577 ​ — ​ — ​ — ​ — ​ 3,577 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 124,843 ​ $ 57,981 ​ $ 563,239 ​ $ 89,602 ​ $ 39 ​ $ 62 ​ $ 835,766 ​ Credit Risk Profile by Internally Assigned Grade as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Overdrafts Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 127,184 ​ $ 56,943 ​ $ 545,788 ​ $ 90,276 ​ $ 42 ​ $ 452 ​ $ 820,685 Special Mention ​ — ​ — ​ — ​ 301 ​ — ​ — ​ 301 Substandard ​ — ​ 3,722 ​ — ​ — ​ — ​ — ​ 3,722 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 127,184 ​ $ 60,665 ​ $ 545,788 ​ $ 90,577 ​ $ 42 ​ 452 ​ $ 824,708
Schedule of recorded investment for loans classified as Trouble Debt Restructuring (TDR)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2021 ​ 2020 ​ ​ ​ Number of ​ Recorded ​ Number of ​ Recorded ​ ​ contracts Investment contracts Investment ​ ​ ​ (Dollars in Thousands) ​ Multi-family 1 ​ $ 1,089 1 ​ $ 1,098 ​ Mixed-use 2 ​ 905 2 ​ 911 ​ Non-residential real estate 2 ​ 762 2 ​ 739 ​ Total performing 5 ​ $ 2,756 5 ​ $ 2,748 ​
Summary of interest forgone on loans classified as troubled debt restructurings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ ​ (In Thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms ​ $ 44 ​ $ 46 Less: Interest income included in the results of operations ​ 30 ​ 31 Total foregone interest ​ $ 14 ​ $ 15

Federal Home Loan Bank of New_2

Federal Home Loan Bank of New York ("FHLB") Advances (Tables)	3 Months Ended
	Mar. 31, 2021
Federal Home Loan Bank of New York ("FHLB") Advances
Schedule of FHLB advances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2021 ​ 2020 ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ Amount ​ Interest Rate ​ Amount ​ Interest Rate ​ ​ ​ (Dollars in Thousands) ​ Advances maturing in: ​ ​ ​ ​ One year or less ​ $ 7,000 ​ 2.79 % $ — ​ — % ​ After one to three years ​ ​ 14,000 2.85 % ​ 14,000 2.81 % ​ After three to four years ​ — — % 7,000 2.86 % ​ After four to five years ​ — — % — — % ​ After five years (due 2030) ​ 7,000 1.61 % 7,000 1.61 % ​ ​ ​ $ 28,000 2.43 % $ 28,000 2.52 % ​

Benefits Plans (Tables)

Benefits Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Benefits Plans
Schedule of components of net pension periodic expense	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ ​ (Dollars In Thousands) Net periodic pension expense: ​ ​ ​ Service cost ​ $ 33 ​ $ 31 Interest cost ​ 10 ​ 10 Actuarial loss recognized ​ 8 ​ 3 Prior service cost recognized ​ — ​ 4 Total net periodic pension expense included in other non-interest expenses ​ $ 51 ​ $ 48
Summary of ESOP shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2021 ​ 2020 ​ Allocated shares ​ ​ 369,374 ​ 362,894 ​ Shares committed to be released ​ ​ 25,921 ​ 25,921 ​ Unearned shares ​ ​ 103,684 ​ 129,605 ​ Total ESOP Shares ​ ​ 498,979 ​ 518,420 ​ Less allocated shares distributed to former or retired employees ​ ​ (76,509) ​ (76,509) ​ Total ESOP Shares Held by Trustee ​ ​ 422,470 ​ 441,911 ​ Fair value of unearned shares ​ $ 1,658,944 ​ $ 1,684,865 ​

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases
Schedule of Company's leases	At March 31, 2021 and December 31, 2020, the quantitative data relating to the Company’s leases are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2021 ​ 2020 Finance Lease Amounts: ​ ​ ​ ROU asset ​ $ 362 ​ $ 363 ​ Lease liability ​ $ 469 ​ $ 460 ​ Operating Lease Amounts: ​ ​ ​ ​ ROU assets ​ $ 2,962 ​ $ 3,094 ​ Lease liabilities ​ $ 2,989 ​ $ 3,115 ​ Weighted-average remaining lease term ​ ​ ​ Finance lease ​ 95 years ​ 96 years ​ Operating leases ​ 7.45 ​ 7.61 ​ Weighted-average discount rate ​ ​ ​ Finance lease ​ 9.50 % 9.50 % Operating leases ​ 1.27 % 1.34 % ​ The components of lease expense and cash flow information related to leases as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2021 2020 ​ ​ (Dollars In Thousands) ​ Finance Lease Cost ​ ​ ​ ​ ​ ​ ​ Amortization of ROU asset ​ $ 1 ​ $ 1 ​ Interest on lease liability ​ $ 9 ​ $ 9 ​ Operating Lease Costs ​ $ 142 ​ $ 111 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Finance lease ​ $ — ​ $ — ​ Operating leases ​ $ 135 ​ $ 109 ​
Maturities of operating lease liabilities	Maturities of lease liabilities at March 31, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2021 ​ $ 410 ​ $ 30 2022 ​ 549 ​ 30 2023 ​ 423 ​ 30 2024 ​ 333 ​ 30 2025 ​ 302 ​ 30 Thereafter ​ 1,110 ​ 4,164 Total lease payments ​ $ 3,127 ​ $ 4,314 Interest ​ (138) ​ (3,845) Lease liability ​ $ 2,989 ​ $ 469
Maturities of financing lease liabilities	​ Maturities of lease liabilities at March 31, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2021 ​ $ 410 ​ $ 30 2022 ​ 549 ​ 30 2023 ​ 423 ​ 30 2024 ​ 333 ​ 30 2025 ​ 302 ​ 30 Thereafter ​ 1,110 ​ 4,164 Total lease payments ​ $ 3,127 ​ $ 4,314 Interest ​ (138) ​ (3,845) Lease liability ​ $ 2,989 ​ $ 469

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures
Assets carried at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Recurring Basis ​ ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, Description 2021 2020 2021 2020 2021 2020 2021 2020 Assets: ​ ​ ​ ​ ​ ​ ​ ​ Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ Mutual funds ​ $ 10,178 ​ $ 10,332 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 10,178 ​ $ 10,332 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ FHLMC ​ — ​ — ​ 2 ​ 2 ​ — ​ — ​ 2 ​ 2 Total assets ​ $ 10,178 ​ $ 10,332 ​ $ 2 ​ $ 2 ​ $ — ​ $ — ​ $ 10,180 ​ $ 10,334
Assets carried at fair value on a non-recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Non-Recurring Basis ​ ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, ​ March 31, ​ December 31, Description 2021 2020 2021 2020 2021 2020 2021 2020 ​ (In Thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 150 ​ $ — ​ $ 150 Real estate owned ​ — ​ — ​ — ​ — ​ — ​ 1,996 ​ — ​ 1,996 Total assets ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,146 ​ $ — ​ $ 2,146
Schedule of qualitative information about non-recurring Level 3 fair value measurements of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 ​ Fair Valuation Unobservable ​ Weighted ​ ​ Value ​ Technique ​ Input ​ Range ​ Average ​ ​ (In Thousands) Assets: ​ ​ ​ Impaired loans ​ $ 150 Income approach Capitalization rate 7.50 % 7.50 % Real estate owned ​ 1,996 Income approach Capitalization rate 8.40 % 8.40 %
Schedule of carrying amounts and estimated fair value of our financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 55,866 ​ $ 55,866 ​ $ 55,866 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 10,178 ​ ​ 10,178 ​ ​ 10,178 ​ ​ — ​ ​ — Securities available for sale ​ ​ 2 ​ ​ 2 ​ ​ — ​ ​ 2 ​ ​ — Securities held to maturity ​ ​ 6,939 ​ ​ 7,038 ​ ​ — ​ ​ 7,038 ​ ​ — Loans receivable ​ ​ 835,766 ​ ​ 838,734 ​ ​ — ​ ​ — ​ ​ 838,734 Investments in restricted stock ​ ​ 1,595 ​ ​ 1,595 ​ ​ — ​ ​ 1,595 ​ ​ — Accrued interest receivable ​ ​ 3,887 ​ ​ 3,887 ​ ​ — ​ ​ 3,887 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 765,004 ​ ​ 767,816 ​ ​ — ​ ​ 767,816 ​ ​ — FHLB of New York advances ​ ​ 28,000 ​ ​ 28,745 ​ ​ — ​ ​ 28,745 ​ ​ — Accrued interest payable ​ ​ 33 ​ ​ 33 ​ ​ — ​ ​ 33 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 69,191 ​ $ 69,191 ​ $ 69,191 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 10,332 ​ ​ 10,332 ​ ​ 10,332 ​ ​ — ​ ​ — Securities available for sale ​ ​ 2 ​ ​ 2 ​ ​ — ​ ​ 2 ​ ​ — Securities held to maturity ​ ​ 7,382 ​ ​ 7,519 ​ ​ — ​ ​ 7,519 ​ ​ — Loans receivable ​ ​ 819,733 ​ ​ 823,996 ​ ​ — ​ ​ — ​ ​ 823,996 Investments in restricted stock ​ ​ 1,595 ​ ​ 1,595 ​ ​ — ​ ​ 1,595 ​ ​ — Accrued interest receivable ​ ​ 3,838 ​ ​ 3,838 ​ ​ — ​ ​ 3,838 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 771,706 ​ ​ 776,413 ​ ​ — ​ ​ 776,413 ​ ​ — FHLB of New York advances ​ ​ 28,000 ​ ​ 29,292 ​ ​ — ​ ​ 29,292 ​ ​ — Accrued interest payable ​ ​ 8 ​ ​ 8 ​ ​ — ​ ​ 8 ​ ​ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue Recognition
Revenue Recognition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2021 2020 ​ ​ ​ (In Thousands) ​ Non-interest income: ​ ​ ​ ​ Deposit-related fees and charges ​ $ 17 ​ $ 24 ​ Loan-related fees and charges (1) ​ 148 ​ 156 ​ Electronic banking fees and charges ​ 157 ​ 90 ​ (Loss) Gain on disposition of equipment (1) ​ — ​ — ​ Income from bank owned life insurance (1) ​ 147 ​ 156 ​ Investment advisory fees ​ 118 ​ 114 ​ Unrealized gain (loss) on equity securities (1) ​ (155) ​ 206 ​ Miscellaneous (1) ​ 11 ​ 136 ​ Total non-interest income ​ $ 443 ​ $ 882 ​ (1) Not within the scope of ASC 606.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)Officeproperty$ / sharesshares	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)$ / sharesshares
Summary of Significant Accounting Policies
Number of branch offices | Office	9
Number of loan production offices | Office	3
Total Interest Income | $	$ 11,820	$ 12,679
Salaries and employee benefits | $	3,657	$ 3,277
Goodwill | $	651		$ 651
Accumulated other comprehensive loss | $	$ (183)		$ (185)
Common stock, shares authorized	19,000,000		19,000,000
Common stock, par value | $ / shares	$ 0.01		$ 0.01
Preferred stock, shares authorized	1,000,000		1,000,000
Preferred stock, par value | $ / shares	$ 0.01		$ 0.01
Common stock, shares issued	13,225,000		13,225,000
Common stock, shares outstanding	12,194,611		12,194,611
Preferred stock, shares issued	0		0
New England Commercial Properties LLC
Summary of Significant Accounting Policies
Number of foreclosed properties | property	1

Mutual Holding Company Reorga_3

Mutual Holding Company Reorganization and Regulatory Matters - Narrative (Details)	Mar. 31, 2021	Dec. 31, 2020
Mutual Holding Company Reorganization and Regulatory Matters
Percentage of minimum Tier 1 capital to risk based assets	6	6
Percentage of risk weight	150.00%
Minimum
Mutual Holding Company Reorganization and Regulatory Matters
Percentage of minimum Tier 1 capital to risk based assets	4
Percentage of capital conservation buffer	0.625%
Maximum
Mutual Holding Company Reorganization and Regulatory Matters
Percentage of minimum Tier 1 capital to risk based assets	6
Percentage of capital conservation buffer	2.50%

Mutual Holding Company Reorga_4

Mutual Holding Company Reorganization and Regulatory Matters - Schedule of bank's capital levels (Details)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Actual Capital Amount [Abstract]
Total capital (to risk-weighted assets), Actual amount	$ 147,809,000	$ 143,021,000
Total capital (to risk-weighted assets), Minimum Capital Adequacy amount	84,248,000	83,399,000
Total capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 105,310,000	$ 104,249
Actual Capital Ratio [Abstract]
Total capital (to risk-weighted assets), Actual ratio	14.04	13.72
Total capital (to risk-weighted assets), Minimum Capital Adequacy ratio	8	8
Total capital (to risk-weighted assets), For Classification as Well-Capitalized ratio	10	10
Tier 1 capital Amount [Abstract]
Tier 1 capital (to risk-weighted assets), Actual amount	$ 142,735,000	$ 137,962,000
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy amount	63,186,000	62,550,000
Tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 84,248,000	$ 83,399,000
Tier 1 capital Ratio [Abstract]
Tier 1 capital (to risk-weighted assets), Actual ratio	13.55	13.23
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy ratio	6	6
Tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized ratio	8	8
Common Equity Tier 1 Capital Amount [Abstract]
Common equity tier 1 capital (to risk-weighted assets), Actual amount	$ 142,735,000	$ 137,962,000
Common equity tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy amount	47,389,000	46,912,000
Common equity tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 68,451,000	$ 67,762,000
Common Equity Tier 1 Capital Ratio [Abstract]
Common equity tier 1 capital (to risk-weighted assets), Actual ratio	13.55	13.23
Common equity tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy ratio	4.50	4.50
Common equity tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized ratio	6.50	6.50
Core (Tier 1) Capital Amount [Abstract]
Core (Tier 1) capital (to adjusted total assets), Actual amount	$ 142,735,000	$ 137,962,000
Core (Tier 1) capital (to adjusted total assets), Minimum Capital Adequacy amount	38,174,000	37,304,000
Core (Tier 1) capital (to adjusted total assets), For Classification as Well-Capitalized amount	$ 47,717,000	$ 46,629,000
Core (Tier 1) Capital Ratio [Abstract]
Core (Tier 1) capital (to adjusted total assets), Actual ratio	14.96	14.79
Core (Tier 1) capital (to adjusted total assets), Minimum Capital Adequacy ratio	4	4
Core (Tier 1) capital (to adjusted total assets), For Classification as Well-Capitalized ratio	5	5

Equity Securities - Schedule of

Equity Securities - Schedule of equity securities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Equity Securities
Equity Securities, at Fair Value	$ 10,178	$ 10,332

Equity Securities - Schedule _2

Equity Securities - Schedule of unrealized gains recognized in net income on equity securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity Securities
Unrealized net gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$ (155)	$ 206

Securities Available-for-Sale -

Securities Available-for-Sale - Schedule of portfolio of securities available-for-sale (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 2	$ 2
Mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2	2
Fair Value	2	2
Mortgage-backed securities - residential | Federal Home Loan Mortgage Corporation
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2	2
Fair Value	$ 2	$ 2

Securities Available-for-Sale_2

Securities Available-for-Sale - Schedule of contractual final maturities of securities available-for-sale (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales of securities available-for-sale	$ 0	$ 0
Mortgage-backed securities - residential
Amortized Cost
Due after one year but with five years, Amortized cost	2
Fair Value
Due after one year but with five years, Fair value	$ 2

Securities Available-for-Sale_3

Securities Available-for-Sale - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Securities Available-for-Sale
Unrealized loss	$ 0	$ 0

Securities Held-to-Maturity - P

Securities Held-to-Maturity - Portfolio (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Securities Held-to-Maturity
Amortized Cost	$ 6,939	$ 7,382
Gross Unrealized Gains	100	138
Gross Unrealized Losses	1	1
Fair Value	7,038	7,519
Municipal Bonds
Securities Held-to-Maturity
Amortized Cost	4,189	4,189
Fair Value	4,189	4,189
Mortgage-backed securities - residential
Securities Held-to-Maturity
Amortized Cost	2,750	3,193
Gross Unrealized Gains	100	138
Gross Unrealized Losses	1	1
Fair Value	2,849	3,330
Government National Mortgage Association
Securities Held-to-Maturity
Amortized Cost	835	933
Gross Unrealized Gains	26	25
Fair Value	861	958
Federal Home Loan Mortgage Corporation
Securities Held-to-Maturity
Amortized Cost	57	59
Gross Unrealized Losses	1	1
Fair Value	56	58
Federal National Mortgage Association
Securities Held-to-Maturity
Amortized Cost	959	1,097
Gross Unrealized Gains	35	45
Fair Value	994	1,142
Collateralized mortgage obligations - GSE
Securities Held-to-Maturity
Amortized Cost	899	1,104
Gross Unrealized Gains	39	68
Fair Value	$ 938	$ 1,172

Securities Held-to-Maturity - C

Securities Held-to-Maturity - Contractual final maturities (Details) $ in Thousands	Mar. 31, 2021USD ($)
Amortized Cost
Due within one year	$ 4,150
Due after one but within five years	949
Due after ten years	1,840
Amortized Cost	6,939
Fair Value
Due within one year	4,175
Due after one but within five years	949
Due after ten years	1,914
Fair Value	$ 7,038

Securities Held-to-Maturity - A

Securities Held-to-Maturity - Age of unrealized losses and the fair value (Details) $ in Thousands	Mar. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Fair Value
Less than 12 Months		$ 42
12 Months or More	$ 42
Total	42	42
Gross Unrealized Losses
Less than 12 Months		1
12 Months or More	1
Total	$ 1	$ 1
Number of securities with unrealized loss | security	1	1
Federal Home Loan Mortgage Corporation
Fair Value
Less than 12 Months		$ 42
12 Months or More	$ 42
Total	42	42
Gross Unrealized Losses
Less than 12 Months		1
12 Months or More	1
Total	$ 1	$ 1

Loans Receivable and the Allo_3

Loans Receivable and the Allowance for Loan Losses - Summary of composition of loans (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Loans Receivable and the Allowance for Loan Losses
Loans receivable	$ 835,766	$ 824,708
Allowance for loan losses	(5,102)	(5,088)	$ (4,640)	$ (4,611)
Deferred loan (fees) costs, net	252	113
Net loans	830,916	819,733
Residential real estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable	124,843	127,184
Allowance for loan losses	(699)	(707)	(606)	(605)
Residential real estate | One-to-four family
Loans Receivable and the Allowance for Loan Losses
Loans receivable	5,708	6,170
Residential real estate | Multi-family
Loans Receivable and the Allowance for Loan Losses
Loans receivable	90,022	90,506
Residential real estate | Mixed-use
Loans Receivable and the Allowance for Loan Losses
Loans receivable	29,113	30,508
Non-residential real estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable	57,981	60,665
Allowance for loan losses	(501)	(519)	(503)	(503)
Construction
Loans Receivable and the Allowance for Loan Losses
Loans receivable	563,239	545,788
Allowance for loan losses	(3,144)	(3,068)	(2,700)	(2,692)
Commercial and industrial
Loans Receivable and the Allowance for Loan Losses
Loans receivable	89,602	90,577
Allowance for loan losses	(756)	(774)	(587)	(566)
Overdrafts
Loans Receivable and the Allowance for Loan Losses
Loans receivable	62	452
Allowance for loan losses	(2)	(20)	$ (70)	$ (71)
Consumer
Loans Receivable and the Allowance for Loan Losses
Loans receivable	$ 39	$ 42

Loans Receivable and the Allo_4

Loans Receivable and the Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Loans Receivable and the Allowance for Loan Losses
Loans serviced for the benefit of others	$ 7,920	$ 11,876
Loans to related parties	$ 0	$ 0

Loans Receivable and the Allo_5

Loans Receivable and the Allowance for Loan Losses - Schedule of analysis of the activity in the allowance for loan losses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	$ 5,102	$ 5,088
Ending balance	835,766	824,708
Ending balance: individually evaluated for impairment	6,335	6,470
Ending balance: collectively evaluated for impairment	829,431	818,238
Residential real estate
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	699	707
Ending balance	124,843	127,184
Ending balance: individually evaluated for impairment	1,995	2,009
Ending balance: collectively evaluated for impairment	122,848	125,175
Non-residential real estate
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	501	519
Ending balance	57,981	60,665
Ending balance: individually evaluated for impairment	4,340	4,461
Ending balance: collectively evaluated for impairment	53,641	56,204
Construction
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	3,144	3,068
Ending balance	563,239	545,788
Ending balance: collectively evaluated for impairment	563,239	545,788
Commercial and industrial
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	756	774
Ending balance	89,602	90,577
Ending balance: collectively evaluated for impairment	89,602	90,577
Consumer
Allowance for loan losses:
Ending balance	39	42
Ending balance: collectively evaluated for impairment	39	42
Overdrafts
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	2	20
Ending balance	62	452
Ending balance: collectively evaluated for impairment	$ 62	$ 452

Loans Receivable and the Allo_6

Loans Receivable and the Allowance for Loan Losses - Schedule of analysis of the activity in the allowance for loan loss by loan class (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Allowance for loan losses:
Beginning balance	$ 5,088	$ 4,611
Charge-offs	(11)	(1)
Recoveries	8	16
Provision for loan losses	17	14
Ending balance	5,102	4,640
Residential real estate
Allowance for loan losses:
Beginning balance	707	605
Recoveries		1
Provision for loan losses	(8)
Ending balance	699	606
Non-residential real estate
Allowance for loan losses:
Beginning balance	519	503
Provision for loan losses	(18)
Ending balance	501	503
Construction
Allowance for loan losses:
Beginning balance	3,068	2,692
Provision for loan losses	76	8
Ending balance	3,144	2,700
Commercial and industrial
Allowance for loan losses:
Beginning balance	774	566
Recoveries		15
Provision for loan losses	(18)	6
Ending balance	756	587
Overdrafts
Allowance for loan losses:
Beginning balance	20	71
Charge-offs	(11)	(1)
Recoveries	8
Provision for loan losses	(15)
Ending balance	$ 2	70
Unallocated
Allowance for loan losses:
Beginning balance		174
Ending balance		$ 174

Loans Receivable and the Allo_7

Loans Receivable and the Allowance for Loan Losses - Summary of recorded investment, unpaid principal balance and allocated allowance (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Recorded Investment
Recorded Investment, With no related allowance	$ 6,335	$ 6,470
Recorded Investment	6,335	6,470
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	6,335	6,535
Unpaid Principal Balance	6,335	6,535
Average Recorded Investment
Average Recorded Investment, With no related allowance	6,403	7,037
Average Recorded Investment	6,403	7,037
Interest Income Recognized
Interest Income Recognized, With no related allowance	30	137
Interest Income Recognized	30	137
Residential real estate | Multi-family
Recorded Investment
Recorded Investment, With no related allowance	1,995	2,009
Recorded Investment	1,995	2,009
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	1,995	2,009
Unpaid Principal Balance	1,995	2,009
Average Recorded Investment
Average Recorded Investment, With no related allowance	2,002	2,666
Average Recorded Investment	2,002	2,666
Interest Income Recognized
Interest Income Recognized, With no related allowance	21	87
Interest Income Recognized	21	87
Non-residential real estate
Recorded Investment
Recorded Investment, With no related allowance	4,340	4,461
Recorded Investment	4,340	4,461
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	4,340	4,526
Unpaid Principal Balance	4,340	4,526
Average Recorded Investment
Average Recorded Investment, With no related allowance	4,401	4,371
Average Recorded Investment	4,401	4,371
Interest Income Recognized
Interest Income Recognized, With no related allowance	9	50
Interest Income Recognized	$ 9	$ 50

Loans Receivable and the Allo_8

Loans Receivable and the Allowance for Loan Losses - Summary of loans receivable on nonaccrual status (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Loans Receivable on Nonaccrual Status	$ 3,577		$ 3,572
Interest income that would have been recorded had the loans been on accrual status	57	$ 70
Non-residential real estate
Financing Receivable, Past Due [Line Items]
Loans Receivable on Nonaccrual Status	$ 3,577		$ 3,572

Loans Receivable and the Allo_9

Loans Receivable and the Allowance for Loan Losses - Schedule of age analysis of past due loans (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 4,183	$ 3,572
Current	831,583	821,136
Total Loans Receivable	835,766	824,708
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	606
90 Days Or Greater
Financing Receivable, Past Due [Line Items]
Total Past Due	3,577	3,572
Residential real estate
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	124,843	127,184
Residential real estate | One-to-four family
Financing Receivable, Past Due [Line Items]
Current	5,708	6,170
Total Loans Receivable	5,708	6,170
Residential real estate | Multi-family
Financing Receivable, Past Due [Line Items]
Current	90,022	90,506
Total Loans Receivable	90,022	90,506
Residential real estate | Mixed-use
Financing Receivable, Past Due [Line Items]
Current	29,113	30,508
Total Loans Receivable	29,113	30,508
Non-residential real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	3,577	3,572
Current	54,404	57,093
Total Loans Receivable	57,981	60,665
Non-residential real estate | 90 Days Or Greater
Financing Receivable, Past Due [Line Items]
Total Past Due	3,577	3,572
Construction
Financing Receivable, Past Due [Line Items]
Total Past Due	606
Current	562,633	545,788
Total Loans Receivable	563,239	545,788
Construction | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	606
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Current	89,602	90,577
Total Loans Receivable	89,602	90,577
Overdrafts
Financing Receivable, Past Due [Line Items]
Current	62	452
Total Loans Receivable	62	452
Consumer
Financing Receivable, Past Due [Line Items]
Current	39	42
Total Loans Receivable	$ 39	$ 42

Loans Receivable and the All_10

Loans Receivable and the Allowance for Loan Losses - Summary of credit risk profile by internally assigned grade (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	$ 835,766	$ 824,708
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	831,904	820,685
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	285	301
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	3,577	3,722
Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	124,843	127,184
Residential real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	124,843	127,184
Non-residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	57,981	60,665
Non-residential real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	54,404	56,943
Non-residential real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	3,577	3,722
Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	563,239	545,788
Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	563,239	545,788
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	89,602	90,577
Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	89,317	90,276
Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	285	301
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	39	42
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	39	42
Overdrafts
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	62	452
Overdrafts | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	$ 62	$ 452

Loans Receivable and the All_11

Loans Receivable and the Allowance for Loan Losses - Troubled Debt Restructuring (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)loan	Mar. 31, 2020USD ($)loan	Dec. 31, 2020USD ($)loan
Loan and Lease Receivables, Impaired [Abstract]
Interest income that would have been recognized had the loans performed in accordance with their original terms	$ 44	$ 46
Less: Interest income included in the results of operations	30	31
Total foregone interest	$ 14	$ 15
Number of loans modified that were deemed troubled debt restructuring | loan	0	0
Number of loans that had defaulted which were modified in previous twelve months | loan	0	0
Number of financing receivables, modified by CARES act still in deferral status | loan	2
Amount of financing receivables deferral status amount, CARES Act	$ 1,200
Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	5		5
Recorded Investment	$ 2,756		$ 2,748
Residential real estate | Multi-family | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	1		1
Recorded Investment	$ 1,089		$ 1,098
Residential real estate | Mixed-use | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	2		2
Recorded Investment	$ 905		$ 911
Non-residential real estate | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	2		2
Recorded Investment	$ 762		$ 739

Real Estate Owned ("REO") (Deta

Real Estate Owned ("REO") (Details)	3 Months Ended
	Mar. 31, 2021USD ($)property	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Real Estate Owned ("REO")
Number of foreclosed property owned | property	1
Value of foreclosed property owned	$ 1,996,000		$ 1,996,000
REO expense including loss on sales and write-downs	$ 41,000	$ 47,000

Federal Home Loan Bank of New_3

Federal Home Loan Bank of New York ("FHLB") Advances (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Advances maturing in:
One year or less	$ 7,000
After one to three years	14,000	$ 14,000
After three to four years		7,000
After five years (due 2030)	7,000	7,000
FHLB advances	$ 28,000	$ 28,000
Weighted Average Interest Rate
One year or less	2.79%
After two to three years	2.85%	2.81%
After three to four years		2.86%
After five years (due 2030)	1.61%	1.61%
FHLB advances weighted average interest rate (as a percent)	2.43%	2.52%

Federal Home Loan Bank of New_4

Federal Home Loan Bank of New York ("FHLB") Advances - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Federal Home Loan Bank of New York ("FHLB") Advances
Advances subject to early call or redemption features	$ 0
Maximum borrowing capacity	45,800
Outstanding advances	28,000	$ 28,000
FHLB
Federal Home Loan Bank of New York ("FHLB") Advances
Outstanding advances	28,000
Atlantic Community Bankers Bank
Federal Home Loan Bank of New York ("FHLB") Advances
Outstanding advances	$ 8,000
Minimum
Federal Home Loan Bank of New York ("FHLB") Advances
Term of the advance	2 years
Maximum
Federal Home Loan Bank of New York ("FHLB") Advances
Term of the advance	10 years

Benefits Plans - Net periodic p

Benefits Plans - Net periodic pension expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net periodic pension expense:
Unrecognized net gain	$ 7	$ 4
Pension Plan | DRP
Net periodic pension expense:
Service cost	33	31
Interest cost	10	10
Actuarial loss recognized	8	3
Prior service cost recognized		4
Total net periodic pension expense included in other non-interest expenses	$ 51	$ 48

Benefits Plans - Narrative (Det

Benefits Plans - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)installment$ / sharesshares	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Benefits Plans
Balance remaining on the ESOP loan	$ 830,916,000		$ 819,733,000
401 (K) Plan
Benefits Plans
Employers matching contribution (as a percent)	0.00%		0.00%
401 (K) Plan | Minimum
Benefits Plans
Participants maximum contribution (as a percent)	1.00%
401 (K) Plan | Maximum
Benefits Plans
Participants maximum contribution (as a percent)	15.00%
ESOP | Employee Stock Ownership Plan Loan [Member]
Benefits Plans
Expense on defined benefit plan.	$ 97,000	$ 72,000
Amount borrowed from company	$ 5,184,200
Common stock shares acquired | shares	518,420
Share price | $ / shares	$ 10
Interest rate on loans (as a percent)	8.25%
Number of installments of loans receivable | installment	20
Balance remaining on the ESOP loan	$ 2,051,000		$ 2,051,000
Shares committed to be released | shares	2,160
Dividends on unallocated shares reduced from loan	$ 5,000	5,000
Dividends on unallocated shares charged to retained earnings	$ 12,000		$ 10,000
Pension Plan | SERP
Benefits Plans
Term of average base salary preceding retirement	3 years
Monthly installments	50.00%
Expense on defined benefit plan.	$ 95,000	$ 50,000
2022	0
2023	0
2024	0
2025	0
2026	$ 0
Pension Plan | SERP | Minimum
Benefits Plans
Benefit payment term	15 years

Benefits Plans - ESOP shares (D

Benefits Plans - ESOP shares (Details) - Pension Plan - DRP - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Benefits Plans
Allocated shares	$ 369,374	$ 362,894
Shares committed to be released	25,921	25,921
Unearned shares	103,684	129,605
Total ESOP Shares	498,979	518,420
Less allocated shares distributed to former or retired employees	(76,509)	(76,509)
Total ESOP Shares Held by Trustee	422,470	441,911
Fair value of unearned shares	$ 1,658,944	$ 1,684,865

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Mar. 31, 2021
Leases
Finance lease remaining lease terms	96 years
Lessee, Finance Lease, Existence of Option to Extend [true false]	true
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Minimum
Leases
Operating lease remaining lease terms	2 years
Operating lease initial lease terms	5 years
Maximum
Leases
Operating lease remaining lease terms	9 years
Operating lease initial lease terms	10 years

Leases - Schedule of Company's

Leases - Schedule of Company's leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Leases
ROU asset	$ 362		$ 363
Lease liability	469		460
ROU assets	2,962		3,094
Lease liabilities	$ 2,989		$ 3,115
Finance lease	95 years		96 years
Operating leases	7 years 5 months 12 days		7 years 7 months 9 days
Finance lease	9.50%		9.50%
Operating leases	1.27%		1.34%
Amortization of ROU asset	$ 1	$ 1
Interest on lease liability	9	9
Operating Lease Costs	142	111
Operating leases	$ 135	$ 109

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Maturities of Operating lease liabilities
2021	$ 410
2022	549
2023	423
2024	333
2025	302
Thereafter	1,110
Total lease payments	3,127
Interest	(138)
Lease liability	2,989	$ 3,115
Maturities of Finance lease liabilities
2021	30
2022	30
2023	30
2024	30
2025	30
Thereafter	4,164
Total lease payments	4,314
Interest	(3,845)
Lease liability	$ 469	$ 460

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets carried at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfer of Assets from Level 1 to 2	$ 0	$ 0
Transfer of Assets from Level 2 to 1	0	0
Transfer of Liabilities from Level 1 to 2	0	0
Transfer of Liabilities from Level 2 to 1	0	0
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,180	10,334
Total Liabilities	0	0
Recurring | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,178	10,332
Recurring | FHLMC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2	2
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,178	10,332
Level 1 | Recurring | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,178	10,332
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2	2
Level 2 | Recurring | FHLMC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 2	$ 2

Fair Value Disclosures - Asse_2

Fair Value Disclosures - Assets carried at fair value on a non-recurring basis (Details) - Non recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		$ 2,146
Total Liabilities	$ 0	0
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		150
Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		1,996
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		2,146
Level 3 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		150
Level 3 | Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		$ 1,996

Fair Value Disclosures - Qualit

Fair Value Disclosures - Qualitative information about non-recurring Level 3 fair value measurements (Details) - Non recurring $ in Thousands	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 2,146
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	150
Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	1,996
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,146
Level 3 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 150
Level 3 | Impaired loans | Income approach | Capitalization rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held for sale	7.50
Level 3 | Impaired loans | Income approach | Weighted Average | Capitalization rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held for sale	7.50
Level 3 | Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 1,996
Level 3 | Real estate owned | Income approach | Capitalization rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held for sale	8.40
Level 3 | Real estate owned | Income approach | Weighted Average | Capitalization rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held for sale	8.40

Fair Value Disclosures - Carryi

Fair Value Disclosures - Carrying amounts and estimated fair value of our financial instruments (Details) - Non recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		$ 2,146
Carrying Amount | Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 765,004	771,706
Carrying Amount | FHLB of New York advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	28,000	28,000
Carrying Amount | Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	33	8
Carrying Amount | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	55,866	69,191
Carrying Amount | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	100	100
Carrying Amount | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,178	10,332
Carrying Amount | Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2	2
Carrying Amount | Securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	6,939	7,382
Carrying Amount | Loans receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	835,766	819,733
Carrying Amount | Investments in restricted stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,595	1,595
Carrying Amount | Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	3,887	3,838
Fair Value | Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	767,816	776,413
Fair Value | FHLB of New York advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	28,745	29,292
Fair Value | Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	33	8
Fair Value | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	55,866	69,191
Fair Value | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	100	100
Fair Value | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,178	10,332
Fair Value | Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2	2
Fair Value | Securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	7,038	7,519
Fair Value | Loans receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	838,734	823,996
Fair Value | Investments in restricted stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,595	1,595
Fair Value | Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	3,887	3,838
Level 1 | Fair Value | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	55,866	69,191
Level 1 | Fair Value | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,178	10,332
Level 2 | Fair Value | Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	767,816	776,413
Level 2 | Fair Value | FHLB of New York advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	28,745	29,292
Level 2 | Fair Value | Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	33	8
Level 2 | Fair Value | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	100	100
Level 2 | Fair Value | Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2	2
Level 2 | Fair Value | Securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	7,038	7,519
Level 2 | Fair Value | Investments in restricted stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,595	1,595
Level 2 | Fair Value | Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	3,887	3,838
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		2,146
Level 3 | Fair Value | Loans receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 838,734	$ 823,996

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue Recognition
Deposit-related fees and charges	$ 17	$ 24
Loan-related fees and charges	148	156
Electronic banking fees and charges	157	90
Income from bank owned life insurance	147	156
Investment advisory fees	118	114
Unrealized gain (loss) on equity securities	(155)	206
Miscellaneous	11	136
Total Non-Interest Income	$ 443	$ 882