Northeast Community Bancorp (NECB) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 13, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-40589
Entity Registrant Name	NorthEast Community Bancorp, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	86-3173858
Entity Address, Address Line One	325 Hamilton Avenue
Entity Address, City or Town	White Plains
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	10601
City Area Code	914
Local Phone Number	684-2500
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NECB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,377,936
Entity Central Index Key	0001847398
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and amounts due from depository institutions	$ 9,091	$ 8,344
Interest-bearing deposits	165,593	143,925
Total cash and cash equivalents	174,684	152,269
Certificates of deposit	100	100
Equity securities	19,309	19,943
Securities available-for-sale, at fair value	1	1
Securities held-to-maturity (fair value of $15,790 and $17,620, respectively)	17,639	17,880
Loans receivable	1,007,040	972,851
Deferred loan costs, net	512	484
Allowance for loan losses	(5,328)	(5,242)
Net loans	1,002,224	968,093
Premises and equipment, net	25,491	23,907
Investments in restricted stock, at cost	1,254	1,569
Bank owned life insurance	25,439	25,291
Accrued interest receivable	4,743	4,283
Goodwill	651	651
Real estate owned	1,996	1,996
Property held for investment	1,472	1,481
Right of Use Assets-Operating	2,430	2,564
Right of Use Assets-Financing	358	359
Other assets	3,568	4,683
Total assets	1,281,359	1,225,070
Deposits:
Non-interest bearing	381,276	330,853
Interest bearing	610,662	596,311
Total deposits	991,938	927,164
Advance payments by borrowers for taxes and insurance	2,271	1,884
Federal Home Loan Bank advances	21,000	28,000
Lease Liability-Operating	2,474	2,604
Lease Liability-Financing	505	496
Accounts payable and accrued expenses	8,798	13,540
Total liabilities	1,026,986	973,688
Stockholders' equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 75,000,000 shares authorized; 16,377,936 shares issued; and 16,377,936 shares outstanding	164	164
Additional paid-in capital	145,376	145,335
Unearned Employee Stock Ownership Plan ("ESOP") shares	(8,084)	(8,301)
Retained earnings	117,037	114,323
Accumulated other comprehensive loss	(120)	(139)
Total stockholders' equity	254,373	251,382
Total liabilities and stockholders' equity	$ 1,281,359	$ 1,225,070

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Securities held-to-maturity, fair value	$ 15,790	$ 17,620
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	16,377,936	16,377,936
Common stock, shares outstanding	16,377,936	16,377,936

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
INTEREST INCOME:
Loans	$ 13,061	$ 11,727
Interest-earning deposits	54	10
Securities	158	83
Total Interest Income	13,273	11,820
INTEREST EXPENSE:
Deposits	1,178	1,282
Borrowings	161	174
Financing lease	9	9
Total Interest Expense	1,348	1,465
Net Interest Income	11,925	10,355
Provision for loan loss		17
Net Interest Income after Provision for Loan Losses	11,925	10,338
NON-INTEREST INCOME:
Other loan fees and service charges	391	322
Earnings on bank owned life insurance	148	147
Investment advisory fees	137	118
Unrealized loss on equity securities	(634)	(155)
Other	16	11
Total Non-Interest Income	58	443
NON-INTEREST EXPENSES:
Salaries and employee benefits	3,828	3,657
Occupancy expense	603	573
Equipment	290	249
Outside data processing	436	487
Advertising	54	24
Real estate owned expense	31	41
Other	1,978	1,523
Total Non-Interest Expenses	7,220	6,554
INCOME BEFORE PROVISION FOR INCOME TAXES	4,763	4,227
PROVISION FOR INCOME TAXES	1,118	982
NET INCOME	$ 3,645	$ 3,245
EARNINGS PER COMMON SHARE-BASIC (in dollars per share)	$ 0.23	$ 0.20
EARNINGS PER COMMON SHARE-DILUTED (in dollars per share)	$ 0.23	$ 0.20
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-BASIC (in shares)	15,523	16,171
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-DILUTED (in shares)	15,523	16,171

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical)	3 Months Ended
	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF INCOME
Exchange ratio	1.3400

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income		$ 3,645	$ 3,245
Reclassification adjustments out of accumulated other comprehensive income:
Amortization of actuarial loss	[1]	7	8
Actuarial gain arising during period		17	(6)
Total		24	2
Income tax effect	[2]	(5)	1
Total other comprehensive income		19	3
Total Comprehensive Income		$ 3,664	$ 3,248
[1]	¹Amounts are included in salaries and employees benefits in the audited consolidated statements of income as part of net periodic pension cost. See Note 9 for further information.
[2]	²Amounts are included in provision for income taxes in the audited consolidated statements of income.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 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, 2020	$ 132	$ 56,901	$ (1,296)	$ 105,305	$ (7,032)	$ (185)	$ 153,825
Balance at beginning of period (shares) at Dec. 31, 2020	17,721,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				3,245			3,245
Other comprehensive income						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
Balance at end of period (shares) at Mar. 31, 2021	17,721,500
Balance at beginning of period at Dec. 31, 2021	$ 164	145,335	(8,301)	114,323		(139)	251,382
Balance at beginning of period (shares) at Dec. 31, 2021	16,377,936
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				3,645			3,645
Other comprehensive income						19	19
Cash dividend declared				(931)			(931)
ESOP shares earned		41	217				258
Balance at end of period at Mar. 31, 2022	$ 164	$ 145,376	$ (8,084)	$ 117,037		$ (120)	$ 254,373
Balance at end of period (shares) at Mar. 31, 2022	16,377,936

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parentheticals)	3 Months Ended
	Mar. 31, 2022$ / shares	Mar. 31, 2021$ / shares
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Cash dividend declared per share	$ 0.06	$ 0.02
Exchange ratio	1.3400

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income	$ 3,645	$ 3,245
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization (accretion) of securities premiums and discounts, net	1	(1)
Provision for loan loss		17
Depreciation	299	294
Net amortization (accretion) of deferred loan fees and costs	132	(10)
Deferred income tax expense	(26)	(203)
Unrealized loss recognized on equity securities	634	155
Earnings on bank owned life insurance	(148)	(147)
ESOP compensation expense	258	97
Increase in accrued interest receivable	(460)	(49)
Decrease in other assets	1,285	984
Increase (decrease) in accounts payable - loan closing	(2,616)	1,647
Increase (decrease) in accounts payable and accrued expenses	(2,176)	(1,431)
Net Cash Provided by Operating Activities	828	4,598
Cash Flows from Investing Activities:
Net increase in loans	(34,514)	(11,190)
Proceeds from sale of loan	251
Principal repayments on securities held-to-maturity	240	444
Net redemptions of restricted stock	315
Purchases of premises and equipment	(1,883)	(547)
Net Cash Used in Investing Activities	(35,591)	(11,293)
Cash Flows from Financing Activities:
Net increase (decrease) in deposits	64,774	(6,702)
Repayment of FHLB of NY advances	(7,000)
Increase in advance payments by borrowers for taxes and insurance	387	215
Cash dividends paid	(983)	(143)
Net Cash Provided by (Used in) Financing Activities	57,178	(6,630)
Net Increase (Decrease) in Cash and Cash Equivalents	22,415	(13,325)
Cash and Cash Equivalents - Beginning	152,269	69,191
Cash and Cash Equivalents - Ending	174,684	55,866
Supplementary Cash Flows Information:
Income taxes paid		76
Interest paid	1,322	1,490
Supplementary Disclosure of Non-Cash Investing and Financing Activities:
Dividends declared and not paid	$ 983	$ 144

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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 Maryland corporation that was incorporated in May 2021 to be the successor to NorthEast Community Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”), upon completion of the second-step conversion of NorthEast Community Bank (the “Bank”) from the two-tier mutual holding company structure to the stock holding company structure. NorthEast Community Bancorp, MHC was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. The second-step conversion was completed on July 12, 2021, at which time the Company sold, for gross proceeds of per share. As part of the second-step conversion, each of the existing outstanding shares of Mid-Tier Holding Company common stock owned by persons other than NorthEast Community Bancorp, MHC was converted into ​ 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 ten branch offices located in Bronx, New York, Orange, Rockland and Westchester Counties in New York and Essex, Middlesex and Norfolk Counties in Massachusetts and two loan production offices located in White Plains, New York, and New City, New York. 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 (“NECP”), 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 (“72 West Eckerson”), 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 Bank branch locations in Spring Valley, New York and Monroe, New York. 166 Route 59 Realty LLC (“166 Route 59 Realty”), 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 the Bank branch located in Airmont, New York. 3 Winterton Realty LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the property for a Bank branch located in Bloomingburg, 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, 166 Route 59 Realty, and 3 Winterton Realty LLC (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 Company’s annual report on Form 10-K for the year ended December 31, 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 or any other period. Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the 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 2022. Further, a decrease in the results of future operations might place a strain on the Company’s regulatory capital ratios.

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2022
Regulatory Capital
Regulatory Capital	Note 2 — 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, 2021, the implementation of the new rule had no material impact on our regulatory capital level or ratios at the Bank level. The 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 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 Federal Reserve Board has provided a “small bank holding company” exception to its consolidated capital requirements, and legislation and the related issuance of regulations by the Federal Reserve Board has increased the threshold for the exception to $3.0 billion. As a result, the Company is not subject to the capital requirements until such time as its consolidated assets exceed $3.0 billion. The Bank met all capital adequacy requirements to which it was subject as of March 31, 2022 and December 31, 2021. 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, 2022: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 201,243 15.03 % $ ≥107,099 ≥8.00 % $ ≥133,874 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 195,944 14.64 ​ ≥80,324 ≥6.00 ​ ≥107,099 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 195,944 14.64 ​ ≥60,243 ≥4.50 ​ ≥87,018 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 195,944 16.03 ​ ≥48,897 ≥4.00 ​ ≥61,121 ≥5.00 ​ As of December 31, 2021: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 196,155 15.28 % $ ≥102,702 ≥8.00 % $ ≥128,377 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 190,941 14.87 ​ ≥77,026 ≥6.00 ​ ≥102,702 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 190,941 14.87 ​ ≥57,770 ≥4.50 ​ ≥83,445 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 190,941 16.79 ​ ≥45,486 ≥4.00 ​ ≥56,857 ≥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, 2022
Equity Securities
Equity Securities	Note 3 — Equity Securities The following table is the schedule of equity securities at March 31, 2022 and December 31, 2021. 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, ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Equity Securities, at Fair Value ​ $ 19,309 ​ $ 19,943 ​ ​ The following is a summary of unrealized gains recognized in net income on equity securities during the three months ended March 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss recognized on equity securities during the period ​ $ (634) ​ $ (155) ​ Less: Net losses realized on the sale of equity securities during the period ​ ​ — ​ ​ — ​ Unrealized net loss recognized on equity securities held at the reporting date ​ $ (634) ​ $ (155) ​ ​

Securities Available-for-Sale

Securities Available-for-Sale	3 Months Ended
	Mar. 31, 2022
Securities Available-for-Sale
Securities Available-for-Sale	Note 4 — Securities Available-for-Sale The following table summarizes the Company’s portfolio of securities available-for-sale at March 31, 2022 and December 31, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ There were no sales of securities available-for-sale as of March 31, 2022 and December 31, 2021. Contractual final maturities of mortgage-backed securities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ Amortized Cost Fair Value ​ ​ (In Thousands) Due after one year but within five years ​ $ 1 ​ $ 1 ​ ​ $ 1 ​ $ 1 ​ 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, 2022 and December 31, 2021, the Company had no unrealized loss.

Securities Held-to-Maturity

Securities Held-to-Maturity	3 Months Ended
	Mar. 31, 2022
Securities Held-to-Maturity
Securities Held-to-Maturity	Note 5 — Securities Held-to-Maturity The following table summarizes the Company’s portfolio of securities held-to-maturity at March 31, 2022 and December 31, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 10,013 ​ $ — ​ $ 1,495 ​ $ 8,518 Mortgage-backed securities – residential: ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ 621 ​ $ 11 ​ $ — ​ $ 632 Federal Home Loan Mortgage Corporation ​ 1,038 ​ — ​ 58 ​ 980 Federal National Mortgage Association ​ 2,595 ​ — ​ 114 ​ 2,481 Collateralized mortgage obligations – GSE ​ 3,372 ​ — ​ 193 ​ 3,179 ​ ​ $ 7,626 ​ $ 11 ​ $ 365 ​ $ 7,272 ​ ​ $ 17,639 ​ $ 11 ​ $ 1,860 ​ $ 15,790 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 10,017 ​ $ 7 ​ $ 267 ​ $ 9,757 Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 656 ​ $ 19 ​ $ — ​ $ 675 Federal Home Loan Mortgage Corporation ​ 1,059 ​ — ​ 5 ​ 1,054 Federal National Mortgage Association ​ 2,695 ​ 23 ​ 6 ​ 2,712 Collateralized mortgage obligations – GSE ​ 3,453 ​ 18 ​ 49 ​ 3,422 ​ ​ $ 7,863 ​ $ 60 ​ $ 60 ​ $ 7,863 ​ ​ $ 17,880 ​ $ 67 ​ $ 327 ​ $ 17,620 ​ Contractual final maturities of mortgage-backed securities and municipal bonds were as follows at March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ Amortized ​ Fair ​ Cost Value ​ (In Thousands) Due within one year ​ $ 538 ​ $ 725 Due after one but within five years ​ 1,774 ​ 2,073 Due after five but within ten years ​ 1,664 ​ 1,737 Due after ten years ​ 13,663 ​ 11,255 ​ ​ $ 17,639 ​ $ 15,790 ​ 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, 2022: ​ ​ ​ ​ ​ ​ Municipal Bonds ​ $ 7,936 ​ $ 1,495 ​ $ — ​ $ — ​ $ 7,936 ​ $ 1,495 Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 980 ​ $ 58 ​ $ — ​ $ — ​ $ 980 ​ $ 58 Federal National Mortgage Association ​ ​ 1,882 ​ ​ 114 ​ ​ — ​ ​ — ​ ​ 1,882 ​ ​ 114 Collateralized mortgage obligations – GSE ​ ​ 3,179 ​ ​ 193 ​ ​ — ​ ​ — ​ ​ 3,179 ​ ​ 193 ​ ​ ​ 6,041 ​ ​ 365 ​ ​ — ​ ​ — ​ ​ 6,041 ​ ​ 365 ​ ​ $ 13,977 ​ $ 1,860 ​ $ — ​ $ — ​ $ 13,977 ​ $ 1,860 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021: ​ ​ ​ ​ ​ ​ Municipal Bonds ​ $ 9,134 ​ $ 267 ​ $ — ​ $ — ​ $ 9,134 ​ $ 267 Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1,004 ​ $ 5 ​ $ — ​ $ — ​ $ 1,004 ​ $ 5 Federal National Mortgage Association ​ ​ 2,035 ​ ​ 6 ​ ​ — ​ ​ — ​ ​ 2,035 ​ ​ 6 Collateralized mortgage obligations – GSE ​ ​ 907 ​ ​ 49 ​ ​ — ​ ​ — ​ ​ 907 ​ ​ 49 ​ ​ ​ 3,946 ​ ​ 60 ​ ​ — ​ ​ — ​ ​ 3,946 ​ ​ 60 ​ ​ $ 13,080 ​ $ 327 ​ $ — ​ $ — ​ $ 13,080 ​ $ 327 ​ At March 31, 2022, eight mortgage-backed securities and four municipal bonds had unrealized loss due to interest rate volatility. Management concluded that the unrealized loss reflected above was temporary in nature since the unrealized loss was related primarily to market interest rates for the mortgage-backed security and discounted yields for the municipal bonds, and not related to the underlying credit quality of the issuers of the securities. Additionally, the Company has the ability and intent to hold the securities for the time necessary to recover the amortized cost. At December 31, 2021, there was

Loans Receivable and the Allowa

Loans Receivable and the Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2022
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 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, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Residential real estate: ​ ​ ​ One-to-four family ​ $ 7,223 ​ $ 7,189 ​ Multi-family ​ 75,458 ​ 84,425 ​ Mixed-use ​ 26,418 ​ 28,744 ​ Total residential real estate ​ 109,099 ​ 120,358 ​ Non-residential real estate ​ 45,358 ​ 50,016 ​ Construction ​ 736,689 ​ 683,830 ​ Commercial and industrial ​ 115,450 ​ 118,378 ​ Consumer ​ 444 ​ 269 ​ Total Loans ​ 1,007,040 ​ 972,851 ​ Allowance for loan losses ​ (5,328) ​ (5,242) ​ Deferred loan (fees) costs, net ​ 512 ​ 484 ​ ​ ​ $ 1,002,224 ​ $ 968,093 ​ ​ Loans serviced for the benefit of others totaled approximately $13,511,000 and $14,610,000 at March 31, 2022 and December 31, 2021, respectively. The value of mortgage servicing rights was not material at March 31, 2022 and December 31, 2021. 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 2022 or 2021. The Company had no loans to related parties at March 31, 2022 and December 31, 2021. In addition, the Company did not originate any loans to related parties in 2022 or 2021. The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the statement of financial condition 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 allocation of the allowance for loan losses and loans receivable by loan class and impairment method at March 31, 2022 and December 31, 2021: At March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 510 ​ $ 340 ​ $ 3,392 ​ $ 958 ​ $ 17 ​ $ 111 ​ $ 5,328 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 510 ​ $ 340 ​ $ 3,392 ​ $ 958 ​ $ 17 ​ $ 111 ​ $ 5,328 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 109,099 ​ $ 45,358 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ — ​ $ 1,007,040 Ending balance: individually evaluated for impairment ​ $ 865 ​ $ 766 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,631 Ending balance: collectively evaluated for impairment ​ $ 108,234 ​ $ 44,592 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ — ​ $ 1,005,409 ​ ​ At December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 120,358 ​ $ 50,016 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ — ​ $ 972,851 Ending balance: individually evaluated for impairment ​ $ 876 ​ $ 746 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,622 Ending balance: collectively evaluated for impairment ​ $ 119,482 ​ $ 49,270 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ — ​ $ 971,229 ​ ​ The activity in the allowance for loan loss by loan class for the three months ended March 31, 2022 and 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2021 ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Charge-offs ​ — ​ — ​ — ​ — ​ (10) ​ — ​ (10) Recoveries ​ 43 ​ 53 ​ — ​ — ​ — ​ — ​ 96 Provision (Benefit) ​ (104) ​ (94) ​ 249 ​ (15) ​ 17 ​ (53) ​ — Balance - March 31, 2022 ​ $ 510 ​ $ 340 ​ $ 3,392 ​ $ 958 ​ $ 17 ​ $ 111 ​ $ 5,328 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2020 ​ $ 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 ​ ​ During both the three months ended March 31, 2022 and 2021, the provision expenses recorded for construction loans were primarily attributed to the increased loan balances. The credit provision recorded during both three-month periods for other loan segments was due to decreased loan balances. The following table shows our recorded investment, unpaid principal balance and allocated allowance for loan losses for loans that were considered impaired as of and for the periods presented: As of and for the Three months Ended March 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2022 ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2022 ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ $ 865 ​ $ 865 ​ $ — ​ $ 871 ​ $ 6 Non-residential real estate ​ 766 ​ 833 ​ — ​ 756 ​ 10 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 1,631 ​ 1,698 ​ — ​ 1,627 ​ 16 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 865 ​ 865 ​ — ​ 871 ​ 6 Non-residential real estate ​ 766 ​ 833 ​ — ​ 756 ​ 10 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 1,631 ​ $ 1,698 ​ $ — ​ $ 1,627 ​ $ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 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 ​ $ 876 ​ $ 876 ​ $ — ​ $ 1,986 ​ $ 86 Non-residential real estate ​ 746 ​ 813 ​ — ​ 3,891 ​ ​ 36 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 1,622 ​ 1,689 ​ — ​ 5,877 ​ 122 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 876 ​ 876 ​ — ​ 1,986 ​ 86 Non-residential real estate ​ 746 ​ 813 ​ — ​ 3,891 ​ 36 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 1,622 ​ $ 1,689 ​ $ — ​ $ 5,877 ​ $ 122 ​ There was no nonaccrual loans as of March 31, 2022 and December 31, 2021. The Company did not recognize any interest income on non-accrual loans during the three months ended March 31, 2022 and 2021. 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, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 7,223 ​ $ 7,223 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 75,458 ​ 75,458 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 26,418 ​ 26,418 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 45,358 ​ 45,358 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 736,689 ​ 736,689 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 115,450 ​ 115,450 ​ — Consumer ​ — ​ — ​ — ​ — ​ 444 ​ 444 ​ — ​ ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,007,040 ​ $ 1,007,040 ​ $ — ​ Age Analysis of Past Due Loans as of December 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 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 7,189 ​ $ 7,189 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 84,425 ​ 84,425 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 28,744 ​ 28,744 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 50,016 ​ 50,016 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 683,830 ​ 683,830 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 118,378 ​ 118,378 ​ — Consumer ​ — ​ — ​ — ​ — ​ 269 ​ 269 ​ — ​ ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 972,851 ​ $ 972,851 ​ $ — ​ 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, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ Pass ​ $ 109,099 ​ $ 44,592 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ 1,006,274 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ 766 ​ — ​ — ​ — ​ 766 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 109,099 ​ $ 45,358 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ 1,007,040 ​ Credit Risk Profile by Internally Assigned Grade as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ Pass ​ $ 120,358 ​ $ 49,270 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ 972,105 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ 746 ​ — ​ — ​ — ​ 746 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 120,358 ​ $ 50,016 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ 972,851 ​ 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, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ Number of ​ Recorded ​ Number of ​ Recorded ​ ​ contracts Investment contracts Investment ​ ​ ​ (Dollars in Thousands) ​ Residential Real Estate - Mixed-use 2 ​ $ 865 2 ​ $ 876 ​ Non-residential real estate 2 ​ 766 2 ​ 746 ​ Total performing 4 ​ $ 1,631 4 ​ $ 1,622 ​ ​ The following is a summary of interest foregone on loans classified as a TDR for the three month periods ended March 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2022 2021 ​ ​ (In Thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms ​ $ 24 ​ $ 44 Less: Interest income included in the results of operations ​ 22 ​ 30 Total foregone interest ​ $ 2 ​ $ 14 ​ There were no loans modified that were deemed to be a TDR during the three months ended March 31, 2022 and 2021. During the three months ended March 31, 2022 and 2021, 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) January 1, 2022 or (2) 60 days after the President declares a termination of the COVID-19 national emergency were 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, 2022, we had

Real Estate Owned ("REO")

Real Estate Owned ("REO")	3 Months Ended
	Mar. 31, 2022
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 at March 31, 2022 and December 31, 2021, 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 $31,000 and $41,000 for the three months ended March 31, 2022 and 2021, respectively.

Federal Home Loan Bank of New Y

Federal Home Loan Bank of New York ("FHLB") Advances	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ Amount ​ Interest Rate ​ Amount ​ Interest Rate ​ ​ ​ (Dollars in Thousands) ​ Advances maturing in: ​ ​ ​ ​ One year or less ​ $ 7,000 ​ 2.83 % $ 7,000 ​ 2.79 % ​ After one to three years ​ ​ 7,000 2.86 % ​ 14,000 2.85 % ​ After five years (due 2030) ​ 7,000 1.61 % 7,000 1.61 % ​ ​ ​ $ 21,000 2.43 % $ 28,000 2.52 % ​ ​ At March 31, 2022, 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, 2022, 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, 2022, these unpledged qualifying mortgage loans were not pledged to any company other than the FHLB. At March 31, 2022, the Company had the ability to borrow

Benefits Plans

Benefits Plans	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2022 2021 ​ ​ (Dollars In Thousands) Net periodic pension expense: ​ ​ ​ Service cost ​ $ 30 ​ $ 33 Interest cost ​ 14 ​ 10 Actuarial loss recognized ​ 7 ​ 8 Total net periodic pension expense included in other non-interest expenses ​ $ 51 ​ $ 51 ​ Unrecognized net loss of $7,000 and $8,000 for the three months ended March 31, 2022 and 2021, respectively, were 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 Expenses of $119,000 and $95,000 for the three months ended March 31, 2022 and 2021, respectively, were recorded for this plan and are reflected in the Consolidated Statements of Income under Salaries and Employee Benefits. Stock-Based Deferral Plan In June 2021, the Company established a stock-based deferral plan for eligible key executives and members of the Board of Directors of the Company to elect to defer compensation received from the Company for their services and make deemed investments of that deferred compensation in shares of the Company’s common stock. At March 31, 2022, the Company did not have any obligations under the plan. 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 and three months ended March 31, 2022 and 2021. Employee Stock Ownership Plan (“ESOP”) In conjunction with the Mid-Tier Holding Company’s public stock offering in 2006, the Bank established an ESOP for all eligible employees (substantially all full-time employees). The ESOP borrowed per share. The loan from the Mid-Tier Holding Company, which has been assumed by the Company, carries an interest rate of In conjunction with the Company’s second-step conversion offering, on July 12, 2021, the ESOP borrowed $7,827,260 from the Company and used those funds to acquire 782,726 shares of Company common stock at $10.00 per share. The loan from the Company carries an interest rate equal to 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 loans by using dividends paid, if any, on the shares of Company common stock it owns. The balance remaining on the first ESOP loan was $1,703,000 at March 31, 2022 and December 31, 2021. 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 the terms of the ESOP loans, approximately 2,894 shares for the ESOP loan made in 2006 and approximately 4,348 shares for the ESOP loan made in 2021 are committed to be released respectively. 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 totaled approximately $258,000 and $97,000 for the three months ended March 31, 2022 and 2021, respectively. Dividends on unallocated shares, which totaled approximately $52,000 and $5,000 for the three months ended March 31, 2022 and 2021, are recorded as a reduction of the ESOP loan. Dividends on allocated shares, which totaled approximately $36,000 and $12,000 for the three months ended March 31, 2022 and 2021, respectively, are charged to retained earnings. ESOP shares are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2022 ​ 2021 ​ Allocated shares ​ ​ 607,922 ​ 521,012 ​ Shares committed to be released ​ ​ 21,730 ​ 86,910 ​ Unearned shares ​ ​ 847,757 ​ 869,487 ​ Total ESOP Shares ​ ​ 1,477,409 ​ 1,477,409 ​ Less allocated shares distributed to former or retired employees ​ ​ (106,369) ​ (106,369) ​ Total ESOP Shares Held by Trustee ​ ​ 1,371,040 ​ 1,371,040 ​ Fair value of unearned shares ​ $ 10,371,251 ​ $ 9,677,390 ​ ​

Leases

Leases	3 Months Ended
	Mar. 31, 2022
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 In accordance with ASC 842, 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. 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, 2022 and December 31, 2021, the quantitative data relating to the Company’s leases are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2022 ​ 2021 Finance Lease Amounts: ​ ​ ​ ROU asset ​ $ 358 ​ $ 359 ​ Lease liability ​ $ 505 ​ $ 496 ​ Operating Lease Amounts: ​ ​ ​ ​ ROU assets ​ $ 2,430 ​ $ 2,564 ​ Lease liabilities ​ $ 2,474 ​ $ 2,604 ​ Weighted-average remaining lease term ​ ​ ​ Finance lease ​ 95 years ​ 95 years ​ Operating leases ​ 6.91 ​ 7.02 ​ Weighted-average discount rate ​ ​ ​ Finance lease ​ 9.50 % 9.50 % Operating leases ​ 1.19 % 1.22 % ​ The components of lease expense and cash flow information related to leases as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2022 2021 ​ ​ (Dollars In Thousands) ​ Finance Lease Cost ​ ​ ​ ​ ​ ​ ​ Amortization of ROU asset ​ $ 1 ​ $ 1 ​ Interest on lease liability ​ $ 9 ​ $ 9 ​ Operating Lease Costs ​ $ 142 ​ $ 142 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Finance lease ​ $ — ​ $ — ​ Operating leases ​ $ 138 ​ $ 135 ​ ​ Maturities of lease liabilities at March 31, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2022 ​ $ 411 ​ $ 23 2023 ​ 423 ​ 30 2024 ​ 333 ​ 30 2025 ​ 302 ​ 30 2026 ​ 235 ​ 31 Thereafter ​ 875 ​ 4,055 Total lease payments ​ $ 2,579 ​ $ 4,199 Interest ​ (105) ​ (3,694) Lease liability ​ $ 2,474 ​ $ 505 ​

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 2022 2021 2022 2021 2022 2021 2022 2021 Assets: ​ ​ ​ ​ ​ ​ ​ ​ Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ Mutual funds ​ $ 19,309 ​ $ 19,943 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 19,309 ​ $ 19,943 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ FHLMC ​ — ​ — ​ 1 ​ 1 ​ — ​ — ​ 1 ​ 1 Total assets ​ $ 19,309 ​ $ 19,943 ​ $ 1 ​ $ 1 ​ $ — ​ $ — ​ $ 19,310 ​ $ 19,944 ​ There were no transfers between Level 1 and 2 during the three months ended March 31, 2022 or the year ended December 31, 2021. The Company did not have any liabilities that were carried at fair value on a recurring basis at March 31, 2022 and December 31, 2021. The Company did not have any assets and liabilities that were carried at fair value on a non-recurring basis at March 31, 2022 and December 31, 2021. The methods and assumptions used to estimate fair value at March 31, 2022 and December 31, 2021 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, 2022 and December 31, 2021: 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 March 31, 2022 ​ ​ ​ ​ ​ 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 ​ $ 174,684 ​ $ 174,684 ​ $ 174,684 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 19,309 ​ ​ 19,309 ​ ​ 19,309 ​ ​ — ​ ​ — Securities available for sale ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ — Securities held to maturity ​ ​ 17,639 ​ ​ 15,790 ​ ​ — ​ ​ 15,790 ​ ​ — Loans receivable, net ​ ​ 1,002,224 ​ ​ 995,041 ​ ​ — ​ ​ — ​ ​ 995,041 Investments in restricted stock ​ ​ 1,254 ​ ​ 1,254 ​ ​ — ​ ​ 1,254 ​ ​ — Accrued interest receivable ​ ​ 4,743 ​ ​ 4,743 ​ ​ — ​ ​ 4,743 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 991,938 ​ ​ 990,986 ​ ​ — ​ ​ 990,986 ​ ​ — FHLB of New York advances ​ ​ 21,000 ​ ​ 20,432 ​ ​ — ​ ​ 20,432 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at December 31, 2021 ​ ​ ​ ​ ​ ​ 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 ​ $ 152,269 ​ $ 152,269 ​ $ 152,269 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 19,943 ​ ​ 19,943 ​ ​ 19,943 ​ ​ — ​ ​ — Securities available for sale ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ — Securities held to maturity ​ ​ 17,880 ​ ​ 17,620 ​ ​ — ​ ​ 17,620 ​ ​ — Loans receivable, net ​ ​ 968,093 ​ ​ 968,247 ​ ​ — ​ ​ — ​ ​ 968,247 Investments in restricted stock ​ ​ 1,569 ​ ​ 1,569 ​ ​ — ​ ​ 1,569 ​ ​ — Accrued interest receivable ​ ​ 4,283 ​ ​ 4,283 ​ ​ — ​ ​ 4,283 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 927,164 ​ ​ 929,003 ​ ​ — ​ ​ 929,003 ​ ​ — FHLB of New York advances ​ ​ 28,000 ​ ​ 28,283 ​ ​ — ​ ​ 28,283 ​ ​ — ​

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue Recognition
Revenue Recognition	Note 12 — Revenue Recognition The majority of the Company’s revenues come from interest income and other sources, including loans and securities that are outside the scope of ASC 606, Revenue from Contracts with Customers. The Company’s services that fall within the scope of ASC 606 are presented within noninterest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include deposit service charges on deposits, electronic banking fees and charges income, and investment advisory fees. 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, 2022, 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, 2022 and 2021. Sources of revenue outside the scope of ASC 606 are noted as such: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Non-interest income: ​ ​ ​ ​ Deposit-related fees and charges ​ $ 18 ​ $ 17 ​ Loan-related fees and charges (1) ​ 171 ​ 148 ​ Electronic banking fees and charges ​ 202 ​ 157 ​ Income from bank owned life insurance (1) ​ 148 ​ 147 ​ Investment advisory fees ​ 137 ​ 118 ​ Unrealized gain (loss) on equity securities (1) ​ (634) ​ (155) ​ Miscellaneous (1) ​ 16 ​ 11 ​ Total non-interest income ​ $ 58 ​ $ 443 ​ (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.

Other Non-Interest Expenses

Other Non-Interest Expenses	3 Months Ended
	Mar. 31, 2022
Other Non-Interest Expenses
Other Non-Interest Expenses	Note 13 — Other Non-Interest Expenses The following is an analysis of other non-interest expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Other ​ $ 616 ​ $ 488 ​ Service contracts ​ 257 ​ 229 ​ Consulting expense ​ 258 ​ 209 ​ Telephone ​ 141 ​ 141 ​ Directors compensation ​ 139 ​ 144 ​ Audit and accounting ​ 205 ​ 124 ​ Insurance ​ 82 ​ 73 ​ Director, officer, and employee expense ​ 58 ​ 62 ​ Legal fees ​ 154 ​ 17 ​ Office supplies and stationary ​ 40 ​ 36 ​ Recruiting expense ​ 28 ​ — ​ ​ ​ $ 1,978 ​ $ 1,523 ​ ​

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 14 — 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, 2020-03, and 2022-02 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 2020-04 - 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. ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Nature of Business	Nature of Business: Northeast Community Bancorp, Inc. (the “Company”) is a Maryland corporation that was incorporated in May 2021 to be the successor to NorthEast Community Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”), upon completion of the second-step conversion of NorthEast Community Bank (the “Bank”) from the two-tier mutual holding company structure to the stock holding company structure. NorthEast Community Bancorp, MHC was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. The second-step conversion was completed on July 12, 2021, at which time the Company sold, for gross proceeds of per share. As part of the second-step conversion, each of the existing outstanding shares of Mid-Tier Holding Company common stock owned by persons other than NorthEast Community Bancorp, MHC was converted into ​ 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 ten branch offices located in Bronx, New York, Orange, Rockland and Westchester Counties in New York and Essex, Middlesex and Norfolk Counties in Massachusetts and two loan production offices located in White Plains, New York, and New City, New York. 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 (“NECP”), 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 (“72 West Eckerson”), 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 Bank branch locations in Spring Valley, New York and Monroe, New York. 166 Route 59 Realty LLC (“166 Route 59 Realty”), 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 the Bank branch located in Airmont, New York. 3 Winterton Realty LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the property for a Bank branch located in Bloomingburg, New York.
Principles of Consolidations	Principal of Consolidations: The accompanying unaudited consolidated financial statements include the accounts of the Company, the Bank, NECP, NECB Financial, 72 West Eckerson, 166 Route 59 Realty, and 3 Winterton Realty LLC (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 Company’s annual report on Form 10-K for the year ended December 31, 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 or any other period.
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.
COVID19 Pandemic	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 2022. Further, a decrease in the results of future operations might place a strain on the Company’s regulatory capital ratios.

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2022
Regulatory Capital
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, 2022: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 201,243 15.03 % $ ≥107,099 ≥8.00 % $ ≥133,874 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 195,944 14.64 ​ ≥80,324 ≥6.00 ​ ≥107,099 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 195,944 14.64 ​ ≥60,243 ≥4.50 ​ ≥87,018 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 195,944 16.03 ​ ≥48,897 ≥4.00 ​ ≥61,121 ≥5.00 ​ As of December 31, 2021: ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 196,155 15.28 % $ ≥102,702 ≥8.00 % $ ≥128,377 ≥10.00 % Tier 1 capital (to risk-weighted assets) ​ 190,941 14.87 ​ ≥77,026 ≥6.00 ​ ≥102,702 ≥8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 190,941 14.87 ​ ≥57,770 ≥4.50 ​ ≥83,445 ≥6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 190,941 16.79 ​ ≥45,486 ≥4.00 ​ ≥56,857 ≥5.00 ​ (1) Ratios do not include the capital conservation buffer.

Equity Securities (Tables)

Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Securities
Schedule of equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Equity Securities, at Fair Value ​ $ 19,309 ​ $ 19,943 ​
Schedule of unrealized gains recognized in net income on equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss recognized on equity securities during the period ​ $ (634) ​ $ (155) ​ Less: Net losses realized on the sale of equity securities during the period ​ ​ — ​ ​ — ​ Unrealized net loss recognized on equity securities held at the reporting date ​ $ (634) ​ $ (155) ​

Securities Available-for-Sale (

Securities Available-for-Sale (Tables)	3 Months Ended
	Mar. 31, 2022
Securities Available-for-Sale
Schedule of portfolio of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ $ 1 ​ $ — ​ $ — ​ $ 1
Schedule of contractual final maturities of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ Amortized Cost Fair Value ​ ​ (In Thousands) Due after one year but within five years ​ $ 1 ​ $ 1 ​ ​ $ 1 ​ $ 1

Securities Held-to-Maturity (Ta

Securities Held-to-Maturity (Tables)	3 Months Ended
	Mar. 31, 2022
Securities Held-to-Maturity
Summary of securities held-to-maturity portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 10,013 ​ $ — ​ $ 1,495 ​ $ 8,518 Mortgage-backed securities – residential: ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ 621 ​ $ 11 ​ $ — ​ $ 632 Federal Home Loan Mortgage Corporation ​ 1,038 ​ — ​ 58 ​ 980 Federal National Mortgage Association ​ 2,595 ​ — ​ 114 ​ 2,481 Collateralized mortgage obligations – GSE ​ 3,372 ​ — ​ 193 ​ 3,179 ​ ​ $ 7,626 ​ $ 11 ​ $ 365 ​ $ 7,272 ​ ​ $ 17,639 ​ $ 11 ​ $ 1,860 ​ $ 15,790 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Municipal Bonds ​ $ 10,017 ​ $ 7 ​ $ 267 ​ $ 9,757 Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 656 ​ $ 19 ​ $ — ​ $ 675 Federal Home Loan Mortgage Corporation ​ 1,059 ​ — ​ 5 ​ 1,054 Federal National Mortgage Association ​ 2,695 ​ 23 ​ 6 ​ 2,712 Collateralized mortgage obligations – GSE ​ 3,453 ​ 18 ​ 49 ​ 3,422 ​ ​ $ 7,863 ​ $ 60 ​ $ 60 ​ $ 7,863 ​ ​ $ 17,880 ​ $ 67 ​ $ 327 ​ $ 17,620
Schedule of contractual final maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ Amortized ​ Fair ​ Cost Value ​ (In Thousands) Due within one year ​ $ 538 ​ $ 725 Due after one but within five years ​ 1,774 ​ 2,073 Due after five but within ten years ​ 1,664 ​ 1,737 Due after ten years ​ 13,663 ​ 11,255 ​ ​ $ 17,639 ​ $ 15,790
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, 2022: ​ ​ ​ ​ ​ ​ Municipal Bonds ​ $ 7,936 ​ $ 1,495 ​ $ — ​ $ — ​ $ 7,936 ​ $ 1,495 Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 980 ​ $ 58 ​ $ — ​ $ — ​ $ 980 ​ $ 58 Federal National Mortgage Association ​ ​ 1,882 ​ ​ 114 ​ ​ — ​ ​ — ​ ​ 1,882 ​ ​ 114 Collateralized mortgage obligations – GSE ​ ​ 3,179 ​ ​ 193 ​ ​ — ​ ​ — ​ ​ 3,179 ​ ​ 193 ​ ​ ​ 6,041 ​ ​ 365 ​ ​ — ​ ​ — ​ ​ 6,041 ​ ​ 365 ​ ​ $ 13,977 ​ $ 1,860 ​ $ — ​ $ — ​ $ 13,977 ​ $ 1,860 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021: ​ ​ ​ ​ ​ ​ Municipal Bonds ​ $ 9,134 ​ $ 267 ​ $ — ​ $ — ​ $ 9,134 ​ $ 267 Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1,004 ​ $ 5 ​ $ — ​ $ — ​ $ 1,004 ​ $ 5 Federal National Mortgage Association ​ ​ 2,035 ​ ​ 6 ​ ​ — ​ ​ — ​ ​ 2,035 ​ ​ 6 Collateralized mortgage obligations – GSE ​ ​ 907 ​ ​ 49 ​ ​ — ​ ​ — ​ ​ 907 ​ ​ 49 ​ ​ ​ 3,946 ​ ​ 60 ​ ​ — ​ ​ — ​ ​ 3,946 ​ ​ 60 ​ ​ $ 13,080 ​ $ 327 ​ $ — ​ $ — ​ $ 13,080 ​ $ 327

Loans Receivable and the Allo_2

Loans Receivable and the Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2022
Loans Receivable and the Allowance for Loan Losses
Summary of composition of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Residential real estate: ​ ​ ​ One-to-four family ​ $ 7,223 ​ $ 7,189 ​ Multi-family ​ 75,458 ​ 84,425 ​ Mixed-use ​ 26,418 ​ 28,744 ​ Total residential real estate ​ 109,099 ​ 120,358 ​ Non-residential real estate ​ 45,358 ​ 50,016 ​ Construction ​ 736,689 ​ 683,830 ​ Commercial and industrial ​ 115,450 ​ 118,378 ​ Consumer ​ 444 ​ 269 ​ Total Loans ​ 1,007,040 ​ 972,851 ​ Allowance for loan losses ​ (5,328) ​ (5,242) ​ Deferred loan (fees) costs, net ​ 512 ​ 484 ​ ​ ​ $ 1,002,224 ​ $ 968,093 ​
Schedule of analysis of the activity in the allowance for loan losses	At March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 510 ​ $ 340 ​ $ 3,392 ​ $ 958 ​ $ 17 ​ $ 111 ​ $ 5,328 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 510 ​ $ 340 ​ $ 3,392 ​ $ 958 ​ $ 17 ​ $ 111 ​ $ 5,328 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 109,099 ​ $ 45,358 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ — ​ $ 1,007,040 Ending balance: individually evaluated for impairment ​ $ 865 ​ $ 766 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,631 Ending balance: collectively evaluated for impairment ​ $ 108,234 ​ $ 44,592 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ — ​ $ 1,005,409 At December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 120,358 ​ $ 50,016 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ — ​ $ 972,851 Ending balance: individually evaluated for impairment ​ $ 876 ​ $ 746 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,622 Ending balance: collectively evaluated for impairment ​ $ 119,482 ​ $ 49,270 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ — ​ $ 971,229 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2021 ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Charge-offs ​ — ​ — ​ — ​ — ​ (10) ​ — ​ (10) Recoveries ​ 43 ​ 53 ​ — ​ — ​ — ​ — ​ 96 Provision (Benefit) ​ (104) ​ (94) ​ 249 ​ (15) ​ 17 ​ (53) ​ — Balance - March 31, 2022 ​ $ 510 ​ $ 340 ​ $ 3,392 ​ $ 958 ​ $ 17 ​ $ 111 ​ $ 5,328 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2020 ​ $ 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
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, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2022 ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2022 ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ $ 865 ​ $ 865 ​ $ — ​ $ 871 ​ $ 6 Non-residential real estate ​ 766 ​ 833 ​ — ​ 756 ​ 10 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 1,631 ​ 1,698 ​ — ​ 1,627 ​ 16 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 865 ​ 865 ​ — ​ 871 ​ 6 Non-residential real estate ​ 766 ​ 833 ​ — ​ 756 ​ 10 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 1,631 ​ $ 1,698 ​ $ — ​ $ 1,627 ​ $ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 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 ​ $ 876 ​ $ 876 ​ $ — ​ $ 1,986 ​ $ 86 Non-residential real estate ​ 746 ​ 813 ​ — ​ 3,891 ​ ​ 36 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 1,622 ​ 1,689 ​ — ​ 5,877 ​ 122 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate-Multi-family ​ 876 ​ 876 ​ — ​ 1,986 ​ 86 Non-residential real estate ​ 746 ​ 813 ​ — ​ 3,891 ​ 36 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 1,622 ​ $ 1,689 ​ $ — ​ $ 5,877 ​ $ 122
Schedule of age analysis of past due loans	Age Analysis of Past Due Loans as of March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 7,223 ​ $ 7,223 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 75,458 ​ 75,458 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 26,418 ​ 26,418 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 45,358 ​ 45,358 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 736,689 ​ 736,689 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 115,450 ​ 115,450 ​ — Consumer ​ — ​ — ​ — ​ — ​ 444 ​ 444 ​ — ​ ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,007,040 ​ $ 1,007,040 ​ $ — ​ Age Analysis of Past Due Loans as of December 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 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 7,189 ​ $ 7,189 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 84,425 ​ 84,425 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 28,744 ​ 28,744 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 50,016 ​ 50,016 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 683,830 ​ 683,830 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 118,378 ​ 118,378 ​ — Consumer ​ — ​ — ​ — ​ — ​ 269 ​ 269 ​ — ​ ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 972,851 ​ $ 972,851 ​ $ —
Summary of credit risk profile by internally assigned grade	Credit Risk Profile by Internally Assigned Grade as of March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ Pass ​ $ 109,099 ​ $ 44,592 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ 1,006,274 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ 766 ​ — ​ — ​ — ​ 766 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 109,099 ​ $ 45,358 ​ $ 736,689 ​ $ 115,450 ​ $ 444 ​ $ 1,007,040 ​ Credit Risk Profile by Internally Assigned Grade as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ Pass ​ $ 120,358 ​ $ 49,270 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ 972,105 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — Substandard ​ — ​ 746 ​ — ​ — ​ — ​ 746 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 120,358 ​ $ 50,016 ​ $ 683,830 ​ $ 118,378 ​ $ 269 ​ $ 972,851
Schedule of recorded investment for loans classified as Trouble Debt Restructuring (TDR)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ Number of ​ Recorded ​ Number of ​ Recorded ​ ​ contracts Investment contracts Investment ​ ​ ​ (Dollars in Thousands) ​ Residential Real Estate - Mixed-use 2 ​ $ 865 2 ​ $ 876 ​ Non-residential real estate 2 ​ 766 2 ​ 746 ​ Total performing 4 ​ $ 1,631 4 ​ $ 1,622 ​
Summary of interest forgone on loans classified as troubled debt restructurings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2022 2021 ​ ​ (In Thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms ​ $ 24 ​ $ 44 Less: Interest income included in the results of operations ​ 22 ​ 30 Total foregone interest ​ $ 2 ​ $ 14

Federal Home Loan Bank of New_2

Federal Home Loan Bank of New York ("FHLB") Advances (Tables)	3 Months Ended
	Mar. 31, 2022
Federal Home Loan Bank of New York ("FHLB") Advances
Schedule of FHLB advances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ Amount ​ Interest Rate ​ Amount ​ Interest Rate ​ ​ ​ (Dollars in Thousands) ​ Advances maturing in: ​ ​ ​ ​ One year or less ​ $ 7,000 ​ 2.83 % $ 7,000 ​ 2.79 % ​ After one to three years ​ ​ 7,000 2.86 % ​ 14,000 2.85 % ​ After five years (due 2030) ​ 7,000 1.61 % 7,000 1.61 % ​ ​ ​ $ 21,000 2.43 % $ 28,000 2.52 % ​

Benefits Plans (Tables)

Benefits Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Benefits Plans
Schedule of components of net pension periodic expense	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2022 2021 ​ ​ (Dollars In Thousands) Net periodic pension expense: ​ ​ ​ Service cost ​ $ 30 ​ $ 33 Interest cost ​ 14 ​ 10 Actuarial loss recognized ​ 7 ​ 8 Total net periodic pension expense included in other non-interest expenses ​ $ 51 ​ $ 51
Summary of ESOP shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2022 ​ 2021 ​ Allocated shares ​ ​ 607,922 ​ 521,012 ​ Shares committed to be released ​ ​ 21,730 ​ 86,910 ​ Unearned shares ​ ​ 847,757 ​ 869,487 ​ Total ESOP Shares ​ ​ 1,477,409 ​ 1,477,409 ​ Less allocated shares distributed to former or retired employees ​ ​ (106,369) ​ (106,369) ​ Total ESOP Shares Held by Trustee ​ ​ 1,371,040 ​ 1,371,040 ​ Fair value of unearned shares ​ $ 10,371,251 ​ $ 9,677,390 ​

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases
Schedule of Company's leases	At March 31, 2022 and December 31, 2021, the quantitative data relating to the Company’s leases are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2022 ​ 2021 Finance Lease Amounts: ​ ​ ​ ROU asset ​ $ 358 ​ $ 359 ​ Lease liability ​ $ 505 ​ $ 496 ​ Operating Lease Amounts: ​ ​ ​ ​ ROU assets ​ $ 2,430 ​ $ 2,564 ​ Lease liabilities ​ $ 2,474 ​ $ 2,604 ​ Weighted-average remaining lease term ​ ​ ​ Finance lease ​ 95 years ​ 95 years ​ Operating leases ​ 6.91 ​ 7.02 ​ Weighted-average discount rate ​ ​ ​ Finance lease ​ 9.50 % 9.50 % Operating leases ​ 1.19 % 1.22 % ​ The components of lease expense and cash flow information related to leases as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2022 2021 ​ ​ (Dollars In Thousands) ​ Finance Lease Cost ​ ​ ​ ​ ​ ​ ​ Amortization of ROU asset ​ $ 1 ​ $ 1 ​ Interest on lease liability ​ $ 9 ​ $ 9 ​ Operating Lease Costs ​ $ 142 ​ $ 142 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Finance lease ​ $ — ​ $ — ​ Operating leases ​ $ 138 ​ $ 135 ​
Maturities of operating lease liabilities	Maturities of lease liabilities at March 31, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2022 ​ $ 411 ​ $ 23 2023 ​ 423 ​ 30 2024 ​ 333 ​ 30 2025 ​ 302 ​ 30 2026 ​ 235 ​ 31 Thereafter ​ 875 ​ 4,055 Total lease payments ​ $ 2,579 ​ $ 4,199 Interest ​ (105) ​ (3,694) Lease liability ​ $ 2,474 ​ $ 505
Maturities of financing lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2022 ​ $ 411 ​ $ 23 2023 ​ 423 ​ 30 2024 ​ 333 ​ 30 2025 ​ 302 ​ 30 2026 ​ 235 ​ 31 Thereafter ​ 875 ​ 4,055 Total lease payments ​ $ 2,579 ​ $ 4,199 Interest ​ (105) ​ (3,694) Lease liability ​ $ 2,474 ​ $ 505

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 2022 2021 2022 2021 2022 2021 Assets: ​ ​ ​ ​ ​ ​ ​ ​ Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ Mutual funds ​ $ 19,309 ​ $ 19,943 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 19,309 ​ $ 19,943 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ FHLMC ​ — ​ — ​ 1 ​ 1 ​ — ​ — ​ 1 ​ 1 Total assets ​ $ 19,309 ​ $ 19,943 ​ $ 1 ​ $ 1 ​ $ — ​ $ — ​ $ 19,310 ​ $ 19,944
Schedule of carrying amounts and estimated fair value of our financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at March 31, 2022 ​ ​ ​ ​ ​ 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 ​ $ 174,684 ​ $ 174,684 ​ $ 174,684 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 19,309 ​ ​ 19,309 ​ ​ 19,309 ​ ​ — ​ ​ — Securities available for sale ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ — Securities held to maturity ​ ​ 17,639 ​ ​ 15,790 ​ ​ — ​ ​ 15,790 ​ ​ — Loans receivable, net ​ ​ 1,002,224 ​ ​ 995,041 ​ ​ — ​ ​ — ​ ​ 995,041 Investments in restricted stock ​ ​ 1,254 ​ ​ 1,254 ​ ​ — ​ ​ 1,254 ​ ​ — Accrued interest receivable ​ ​ 4,743 ​ ​ 4,743 ​ ​ — ​ ​ 4,743 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 991,938 ​ ​ 990,986 ​ ​ — ​ ​ 990,986 ​ ​ — FHLB of New York advances ​ ​ 21,000 ​ ​ 20,432 ​ ​ — ​ ​ 20,432 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at December 31, 2021 ​ ​ ​ ​ ​ ​ 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 ​ $ 152,269 ​ $ 152,269 ​ $ 152,269 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 19,943 ​ ​ 19,943 ​ ​ 19,943 ​ ​ — ​ ​ — Securities available for sale ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ — Securities held to maturity ​ ​ 17,880 ​ ​ 17,620 ​ ​ — ​ ​ 17,620 ​ ​ — Loans receivable, net ​ ​ 968,093 ​ ​ 968,247 ​ ​ — ​ ​ — ​ ​ 968,247 Investments in restricted stock ​ ​ 1,569 ​ ​ 1,569 ​ ​ — ​ ​ 1,569 ​ ​ — Accrued interest receivable ​ ​ 4,283 ​ ​ 4,283 ​ ​ — ​ ​ 4,283 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 927,164 ​ ​ 929,003 ​ ​ — ​ ​ 929,003 ​ ​ — FHLB of New York advances ​ ​ 28,000 ​ ​ 28,283 ​ ​ — ​ ​ 28,283 ​ ​ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue Recognition
Revenue Recognition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Non-interest income: ​ ​ ​ ​ Deposit-related fees and charges ​ $ 18 ​ $ 17 ​ Loan-related fees and charges (1) ​ 171 ​ 148 ​ Electronic banking fees and charges ​ 202 ​ 157 ​ Income from bank owned life insurance (1) ​ 148 ​ 147 ​ Investment advisory fees ​ 137 ​ 118 ​ Unrealized gain (loss) on equity securities (1) ​ (634) ​ (155) ​ Miscellaneous (1) ​ 16 ​ 11 ​ Total non-interest income ​ $ 58 ​ $ 443 ​ (1) Not within the scope of ASC 606.

Other Non-Interest Expenses (Ta

Other Non-Interest Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Other Non-Interest Expenses
Schedule of other non-interest expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2022 2021 ​ ​ ​ (In Thousands) ​ Other ​ $ 616 ​ $ 488 ​ Service contracts ​ 257 ​ 229 ​ Consulting expense ​ 258 ​ 209 ​ Telephone ​ 141 ​ 141 ​ Directors compensation ​ 139 ​ 144 ​ Audit and accounting ​ 205 ​ 124 ​ Insurance ​ 82 ​ 73 ​ Director, officer, and employee expense ​ 58 ​ 62 ​ Legal fees ​ 154 ​ 17 ​ Office supplies and stationary ​ 40 ​ 36 ​ Recruiting expense ​ 28 ​ — ​ ​ ​ $ 1,978 ​ $ 1,523 ​

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	Jul. 12, 2021USD ($)$ / sharesshares	Mar. 31, 2022USD ($)Officeproperty$ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares
Summary of Significant Accounting Policies
Number of branch offices | Office		10
Number of loan production offices | Office		2
Exchange ratio		1.3400
Goodwill | $		$ 651	$ 651
Accumulated other comprehensive loss | $		$ (120)	$ (139)
Common Stock, Shares Authorized		75,000,000	75,000,000
Common stock, par value | $ / shares		$ 0.01	$ 0.01
Preferred Stock, Shares Authorized		25,000,000	25,000,000
Preferred stock, par value | $ / shares		$ 0.01	$ 0.01
Common stock, shares issued		16,377,936	16,377,936
Common stock, shares outstanding		16,377,936	16,377,936
New England Commercial Properties LLC
Summary of Significant Accounting Policies
Number of foreclosed properties | property		1
NorthEast Community Bank
Summary of Significant Accounting Policies
Gross proceeds | $	$ 97,800
Stock issued	9,784,077
Share price | $ / shares	$ 0.1000
Shares issued upon conversion	1.3400
Exchange ratio	1.3400

Regulatory Capital - Narrative

Regulatory Capital - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021
Mutual Holding Company Reorganization and Regulatory Matters
Dividend declared	$ 931	$ 144
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%

Regulatory Capital - Schedule o

Regulatory Capital - Schedule of capital levels of the bank (Details) $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Actual Capital Amount [Abstract]
Total capital (to risk-weighted assets), Actual amount	$ 201,243	$ 196,155
Total capital (to risk-weighted assets), Minimum Capital Adequacy amount	107,099	102,702
Total capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 133,874	$ 128,377
Actual Capital Ratio [Abstract]
Total capital (to risk-weighted assets), Actual ratio	15.03	15.28
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	$ 195,944	$ 190,941
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy amount	80,324	77,026
Tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 107,099	$ 102,702
Tier 1 capital Ratio [Abstract]
Tier 1 capital (to risk-weighted assets), Actual ratio	14.64	14.87
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	$ 195,944	$ 190,941
Common equity tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy amount	60,243	57,770
Common equity tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 87,018	$ 83,445
Common Equity Tier 1 Capital Ratio [Abstract]
Common equity tier 1 capital (to risk-weighted assets), Actual ratio	14.64	14.87
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	$ 195,944	$ 190,941
Core (Tier 1) capital (to adjusted total assets), Minimum Capital Adequacy amount	48,897	45,486
Core (Tier 1) capital (to adjusted total assets), For Classification as Well-Capitalized amount	$ 61,121	$ 56,857
Core (Tier 1) Capital Ratio [Abstract]
Core (Tier 1) capital (to adjusted total assets), Actual ratio	16.03	16.79
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, 2022	Dec. 31, 2021
Equity Securities
Equity Securities, at Fair Value	$ 19,309	$ 19,943

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, 2022	Mar. 31, 2021
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net loss recognized on equity securities during the period	$ (634)	$ (155)
Unrealized net loss recognized on equity securities held at the reporting date	$ (634)	$ (155)

Securities Available-for-Sale -

Securities Available-for-Sale - Schedule of portfolio of securities available-for-sale (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 1	$ 1
Mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1	1
Fair Value	$ 1	$ 1

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, 2022	Dec. 31, 2021
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	1
Fair Value
Due after one year but with five years, Fair value	$ 1

Securities Available-for-Sale_3

Securities Available-for-Sale - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Securities Available-for-Sale
Unrealized loss	$ 0	$ 0

Securities Held-to-Maturity - P

Securities Held-to-Maturity - Portfolio (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Securities Held-to-Maturity
Amortized Cost	$ 17,639	$ 17,880
Gross Unrealized Gains	11	67
Gross Unrealized Losses	1,860	327
Fair Value	15,790	17,620
Municipal Bonds
Securities Held-to-Maturity
Amortized Cost	10,013	10,017
Gross Unrealized Gains		7
Gross Unrealized Losses	1,495	267
Fair Value	8,518	9,757
Mortgage-backed securities - residential
Securities Held-to-Maturity
Amortized Cost	7,626	7,863
Gross Unrealized Gains	11	60
Gross Unrealized Losses	365	60
Fair Value	7,272	7,863
Government National Mortgage Association
Securities Held-to-Maturity
Amortized Cost	621	656
Gross Unrealized Gains	11	19
Fair Value	632	675
Federal Home Loan Mortgage Corporation
Securities Held-to-Maturity
Amortized Cost	1,038	1,059
Gross Unrealized Losses	58	5
Fair Value	980	1,054
Federal National Mortgage Association
Securities Held-to-Maturity
Amortized Cost	2,595	2,695
Gross Unrealized Gains		23
Gross Unrealized Losses	114	6
Fair Value	2,481	2,712
Collateralized mortgage obligations - GSE
Securities Held-to-Maturity
Amortized Cost	3,372	3,453
Gross Unrealized Gains		18
Gross Unrealized Losses	193	49
Fair Value	$ 3,179	$ 3,422

Securities Held-to-Maturity - C

Securities Held-to-Maturity - Contractual final maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Amortized Cost
Due within one year	$ 538
Due after one but within five years	1,774
Due after five but within ten years	1,664
Due after ten years	13,663
Amortized Cost	17,639
Fair Value
Due within one year	725
Due after one but within five years	2,073
Due after five but within ten years	1,737
Due after ten years	11,255
Fair Value	$ 15,790

Securities Held-to-Maturity - A

Securities Held-to-Maturity - Age of unrealized losses and the fair value (Details) $ in Thousands	Mar. 31, 2022USD ($)itemsecurity	Dec. 31, 2021USD ($)securityitem
Fair Value
Less than 12 Months	$ 13,977	$ 13,080
Total	13,977	13,080
Gross Unrealized Losses
Less than 12 Months	1,860	327
Total	1,860	327
Federal Home Loan Mortgage Corporation
Fair Value
Less than 12 Months	980	1,004
Total	980	1,004
Gross Unrealized Losses
Less than 12 Months	58	5
Total	58	5
Federal National Mortgage Association
Fair Value
Less than 12 Months	1,882	2,035
Total	1,882	2,035
Gross Unrealized Losses
Less than 12 Months	114	6
Total	114	6
Collateralized mortgage obligations - GSE
Fair Value
Less than 12 Months	3,179	907
Total	3,179	907
Gross Unrealized Losses
Less than 12 Months	193	49
Total	193	49
Mortgage-backed securities - residential
Fair Value
Less than 12 Months	6,041	3,946
Total	6,041	3,946
Gross Unrealized Losses
Less than 12 Months	365	60
Total	$ 365	$ 60
Mortgage-backed securities
Gross Unrealized Losses
Number of securities with unrealized loss | security	8	1
Municipal Bonds
Fair Value
Less than 12 Months	$ 7,936	$ 9,134
Total	7,936	9,134
Gross Unrealized Losses
Less than 12 Months	1,495	267
Total	$ 1,495	$ 267
Number of securities with unrealized loss | item	4	3

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, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans Receivable and the Allowance for Loan Losses
Loans receivable	$ 1,007,040	$ 972,851
Allowance for loan losses	(5,328)	(5,242)	$ (5,102)	$ (5,088)
Deferred loan (fees) costs, net	512	484
Net loans	1,002,224	968,093
Residential real estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable	109,099	120,358
Allowance for loan losses	(510)	(571)	(699)	(707)
Residential real estate | One-to-four family
Loans Receivable and the Allowance for Loan Losses
Loans receivable	7,223	7,189
Residential real estate | Multi-family
Loans Receivable and the Allowance for Loan Losses
Loans receivable	75,458	84,425
Residential real estate | Mixed-use
Loans Receivable and the Allowance for Loan Losses
Loans receivable	26,418	28,744
Non-residential real estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable	45,358	50,016
Allowance for loan losses	(340)	(381)	(501)	(519)
Construction
Loans Receivable and the Allowance for Loan Losses
Loans receivable	736,689	683,830
Allowance for loan losses	(3,392)	(3,143)	(3,144)	(3,068)
Commercial and industrial
Loans Receivable and the Allowance for Loan Losses
Loans receivable	115,450	118,378
Allowance for loan losses	(958)	(973)	(756)	(774)
Consumer
Loans Receivable and the Allowance for Loan Losses
Loans receivable	444	269
Allowance for loan losses	$ (17)	$ (10)	$ (2)	$ (20)

Loans Receivable and the Allo_4

Loans Receivable and the Allowance for Loan Losses - Narrative (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans Receivable and the Allowance for Loan Losses
Loans serviced for the benefit of others	$ 13,511,000	$ 14,610,000
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, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Allowance for loan losses:
Ending balance	$ 5,328	$ 5,242	$ 5,102	$ 5,088
Ending balance: collectively evaluated for impairment	5,328	5,242
Ending balance	1,007,040	972,851
Ending balance: individually evaluated for impairment	1,631	1,622
Ending balance: collectively evaluated for impairment	1,005,409	971,229
Residential real estate
Allowance for loan losses:
Ending balance	510	571	699	707
Ending balance: collectively evaluated for impairment	510	571
Ending balance	109,099	120,358
Ending balance: individually evaluated for impairment	865	876
Ending balance: collectively evaluated for impairment	108,234	119,482
Non-residential real estate
Allowance for loan losses:
Ending balance	340	381	501	519
Ending balance: collectively evaluated for impairment	340	381
Ending balance	45,358	50,016
Ending balance: individually evaluated for impairment	766	746
Ending balance: collectively evaluated for impairment	44,592	49,270
Construction
Allowance for loan losses:
Ending balance	3,392	3,143	3,144	3,068
Ending balance: collectively evaluated for impairment	3,392	3,143
Ending balance	736,689	683,830
Ending balance: collectively evaluated for impairment	736,689	683,830
Commercial and industrial
Allowance for loan losses:
Ending balance	958	973	756	774
Ending balance: collectively evaluated for impairment	958	973
Ending balance	115,450	118,378
Ending balance: collectively evaluated for impairment	115,450	118,378
Consumer
Allowance for loan losses:
Ending balance	17	10	$ 2	$ 20
Ending balance: collectively evaluated for impairment	17	10
Ending balance	444	269
Ending balance: collectively evaluated for impairment	444	269
Unallocated
Allowance for loan losses:
Ending balance	111	164
Ending balance: collectively evaluated for impairment	$ 111	$ 164

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, 2022	Mar. 31, 2021
Allowance for loan losses:
Beginning balance	$ 5,242	$ 5,088
Charge-offs	(10)	(11)
Recoveries	96	8
Provision (Benefit)		17
Ending balance	5,328	5,102
Residential real estate
Allowance for loan losses:
Beginning balance	571	707
Recoveries	43
Provision (Benefit)	(104)	(8)
Ending balance	510	699
Non-residential real estate
Allowance for loan losses:
Beginning balance	381	519
Recoveries	53
Provision (Benefit)	(94)	(18)
Ending balance	340	501
Construction
Allowance for loan losses:
Beginning balance	3,143	3,068
Provision (Benefit)	249	76
Ending balance	3,392	3,144
Commercial and industrial
Allowance for loan losses:
Beginning balance	973	774
Provision (Benefit)	(15)	(18)
Ending balance	958	756
Consumer
Allowance for loan losses:
Beginning balance	10	20
Charge-offs	(10)	(11)
Recoveries		8
Provision (Benefit)	17	(15)
Ending balance	17	$ 2
Unallocated
Allowance for loan losses:
Beginning balance	164
Provision (Benefit)	(53)
Ending balance	$ 111

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, 2022	Mar. 31, 2021	Dec. 31, 2021
Recorded Investment
Recorded Investment, With no related allowance	$ 1,631	$ 6,335	$ 1,622
Recorded Investment	1,631	6,335	1,622
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	1,698	6,335	1,689
Unpaid Principal Balance	1,698	6,335	1,689
Average Recorded Investment
Average Recorded Investment, With no related allowance	1,627	6,403	5,877
Average Recorded Investment	1,627	6,403	5,877
Interest Income Recognized
Interest Income Recognized, With no related allowance	16	30	122
Interest Income Recognized	16	30	122
Residential real estate | Multi-family
Recorded Investment
Recorded Investment, With no related allowance	865	1,995	876
Recorded Investment	865	1,995	876
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	865	1,995	876
Unpaid Principal Balance	865	1,995	876
Average Recorded Investment
Average Recorded Investment, With no related allowance	871	2,002	1,986
Average Recorded Investment	871	2,002	1,986
Interest Income Recognized
Interest Income Recognized, With no related allowance	6	21	86
Interest Income Recognized	6	21	86
Non-residential real estate
Recorded Investment
Recorded Investment, With no related allowance	766	4,340	746
Recorded Investment	766	4,340	746
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	833	4,340	813
Unpaid Principal Balance	833	4,340	813
Average Recorded Investment
Average Recorded Investment, With no related allowance	756	4,401	3,891
Average Recorded Investment	756	4,401	3,891
Interest Income Recognized
Interest Income Recognized, With no related allowance	10	9	36
Interest Income Recognized	$ 10	$ 9	$ 36

Loans Receivable and the Allo_8

Loans Receivable and the Allowance for Loan Losses - Summary of loans receivable on nonaccrual status (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Loans Receivable and the Allowance for Loan Losses
Loans Receivable on Nonaccrual Status	$ 0		$ 0
Interest income from a loan that was in non-accrual status	$ 0	$ 0

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, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Loans receivable	$ 1,007,040	$ 972,851
Current
Financing Receivable, Past Due [Line Items]
Loans receivable	1,007,040	972,851
Residential real estate
Financing Receivable, Past Due [Line Items]
Loans receivable	109,099	120,358
Residential real estate | One-to-four family
Financing Receivable, Past Due [Line Items]
Loans receivable	7,223	7,189
Residential real estate | One-to-four family | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	7,223	7,189
Residential real estate | Multi-family
Financing Receivable, Past Due [Line Items]
Loans receivable	75,458	84,425
Residential real estate | Multi-family | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	75,458	84,425
Residential real estate | Mixed-use
Financing Receivable, Past Due [Line Items]
Loans receivable	26,418	28,744
Residential real estate | Mixed-use | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	26,418	28,744
Non-residential real estate
Financing Receivable, Past Due [Line Items]
Loans receivable	45,358	50,016
Non-residential real estate | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	45,358	50,016
Construction
Financing Receivable, Past Due [Line Items]
Loans receivable	736,689	683,830
Construction | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	736,689	683,830
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans receivable	115,450	118,378
Commercial and industrial | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	115,450	118,378
Consumer
Financing Receivable, Past Due [Line Items]
Loans receivable	444	269
Consumer | Current
Financing Receivable, Past Due [Line Items]
Loans receivable	$ 444	$ 269

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, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	$ 1,007,040	$ 972,851
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	1,006,274	972,105
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	766	746
Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	109,099	120,358
Residential real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	109,099	120,358
Non-residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	45,358	50,016
Non-residential real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	44,592	49,270
Non-residential real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	766	746
Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	736,689	683,830
Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	736,689	683,830
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	115,450	118,378
Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	115,450	118,378
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	444	269
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable	$ 444	$ 269

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, 2022USD ($)loan	Mar. 31, 2021USD ($)loan	Dec. 31, 2021USD ($)loan
Loan and Lease Receivables, Impaired [Abstract]
Interest income that would have been recognized had the loans performed in accordance with their original terms | $	$ 24	$ 44
Less: Interest income included in the results of operations | $	22	30
Total foregone interest | $	$ 2	$ 14
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	0
Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	4		4
Recorded Investment | $	$ 1,631		$ 1,622
Residential real estate | Mixed-use | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	2		2
Recorded Investment | $	$ 865		$ 876
Non-residential real estate | Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | loan	2		2
Recorded Investment | $	$ 766		$ 746

Real Estate Owned ("REO") (Deta

Real Estate Owned ("REO") (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)property	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)property
Real Estate Owned ("REO")
Number of foreclosed property owned | property	1		1
Value of foreclosed property owned	$ 1,996		$ 1,996
REO expense including loss on sales and write-downs	$ 31	$ 41

Federal Home Loan Bank of New_3

Federal Home Loan Bank of New York ("FHLB") Advances (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Advances maturing in:
One year or less	$ 7,000	$ 7,000
After one to three years	7,000	14,000
After five years (due 2030)	7,000	7,000
FHLB advances	$ 21,000	$ 28,000
Weighted Average Interest Rate
One year or less	2.83%	2.79%
After one to three years	2.86%	2.85%
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, 2022	Dec. 31, 2021
Federal Home Loan Bank of New York ("FHLB") Advances
Advances subject to early call or redemption features	$ 0
Outstanding advances	21,000	$ 28,000
FHLB
Federal Home Loan Bank of New York ("FHLB") Advances
Maximum borrowing capacity	30,500
Outstanding advances	21,000
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, 2022	Mar. 31, 2021
Net periodic pension expense:
Unrecognized net loss included in accumulated other comprehensive income	$ 7	$ 8
Pension Plan | DRP
Net periodic pension expense:
Service cost	30	33
Interest cost	14	10
Actuarial loss recognized	7	8
Total net periodic pension expense included in other non-interest expenses	$ 51	$ 51

Benefits Plans - Narrative (Det

Benefits Plans - Narrative (Details)	Jul. 12, 2021USD ($)installment$ / sharesshares	Mar. 31, 2022USD ($)installment$ / sharesshares	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Benefits Plans
Balance remaining on the ESOP loan		$ 1,002,224,000		$ 968,093,000
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 2006 | Employee Stock Ownership Plan Loan
Benefits Plans
Expense on defined benefit plan.		$ 258,000	$ 97,000
Amount borrowed from company	$ 7,827,260	$ 5,184,200
Common stock shares acquired | shares	782,726	518,420
Share price | $ / shares	$ 10	$ 10
Interest rate on loans (as a percent)	3.25%	8.25%
Number of installments of loans receivable | installment	15	20
Balance remaining on the ESOP loan		$ 1,703,000		$ 1,703,000
Shares committed to be released | shares		2,894
Dividends on unallocated shares reduced from loan		$ 52,000	5,000
Dividends on unallocated shares charged to retained earnings		$ 36,000	12,000
ESOP 2021 | Employee Stock Ownership Plan Loan
Benefits Plans
Shares committed to be released | shares		4,348
Pension Plan | SERP
Benefits Plans
Term of average base salary preceding retirement		3 years
Monthly installments		50.00%
Expense on defined benefit plan.		$ 119,000	$ 95,000
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, 2022	Dec. 31, 2021
Benefits Plans
Allocated shares	$ 607,922	$ 521,012
Shares committed to be released	21,730	86,910
Unearned shares	847,757	869,487
Total ESOP Shares	1,477,409	1,477,409
Less allocated shares distributed to former or retired employees	(106,369)	(106,369)
Total ESOP Shares Held by Trustee	1,371,040	1,371,040
Fair value of unearned shares	$ 10,371,251	$ 9,677,390

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Mar. 31, 2022
Leases
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Finance lease remaining lease terms	95 years
Lessee, Finance 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 leases of

Leases - Schedule of leases of the Company (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Leases
ROU asset	$ 358		$ 359
Lease liability	505		496
ROU assets	2,430		2,564
Lease liability	2,474		$ 2,604
Amortization of ROU asset	1	$ 1
Interest on lease liability	9	9
Operating Lease Costs	142	142
Operating leases	$ 138	$ 135
Finance lease	95 years		95 years
Operating leases	6 years 10 months 28 days		7 years 7 days
Finance lease	9.50%		9.50%
Operating leases	1.19%		1.22%

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Maturities of Operating lease liabilities
2022	$ 411
2023	423
2024	333
2025	302
2026	235
Thereafter	875
Total lease payments	2,579
Interest	(105)
Lease liability	2,474	$ 2,604
Maturities of Finance lease liabilities
2022	23
2023	30
2024	30
2025	30
2026	31
Thereafter	4,055
Total lease payments	4,199
Interest	(3,694)
Lease liability	$ 505	$ 496

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets carried at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures
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 Disclosures
Total assets	19,310	19,944
Total Liabilities	0	0
Recurring | Mutual funds
Fair Value Disclosures
Total assets	19,309	19,943
Recurring | FHLMC
Fair Value Disclosures
Total assets	1	1
Level 1 | Recurring
Fair Value Disclosures
Total assets	19,309	19,943
Level 1 | Recurring | Mutual funds
Fair Value Disclosures
Total assets	19,309	19,943
Level 2 | Recurring
Fair Value Disclosures
Total assets	1	1
Level 2 | Recurring | FHLMC
Fair Value Disclosures
Total assets	$ 1	$ 1

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, 2022	Dec. 31, 2021
Fair Value Disclosures
Total assets	$ 0	$ 0
Total Liabilities	$ 0	$ 0

Fair Value Disclosures - Qualit

Fair Value Disclosures - Qualitative information about non-recurring Level III fair value measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Non recurring
Fair Value Disclosures
Fair value	$ 0	$ 0

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, 2022	Dec. 31, 2021
Fair Value Disclosures
Total assets	$ 0	$ 0
Carrying Amount | Deposits- liabilities
Fair Value Disclosures
Financial Liabilities	991,938	927,164
Carrying Amount | FHLB of New York advances
Fair Value Disclosures
Financial Liabilities	21,000	28,000
Carrying Amount | Cash and cash equivalents
Fair Value Disclosures
Total assets	174,684	152,269
Carrying Amount | Certificates of deposit.
Fair Value Disclosures
Total assets	100	100
Carrying Amount | Marketable equity securities
Fair Value Disclosures
Total assets	19,309	19,943
Carrying Amount | Securities available for sale
Fair Value Disclosures
Total assets	1	1
Carrying Amount | Securities held to maturity
Fair Value Disclosures
Total assets	17,639	17,880
Carrying Amount | Loans receivable, net
Fair Value Disclosures
Total assets	1,002,224	968,093
Carrying Amount | Investments in restricted stock
Fair Value Disclosures
Total assets	1,254	1,569
Carrying Amount | Accrued interest receivable
Fair Value Disclosures
Total assets	4,743	4,283
Fair Value | Deposits- liabilities
Fair Value Disclosures
Financial Liabilities	990,986	929,003
Fair Value | FHLB of New York advances
Fair Value Disclosures
Financial Liabilities	20,432	28,283
Fair Value | Cash and cash equivalents
Fair Value Disclosures
Total assets	174,684	152,269
Fair Value | Certificates of deposit.
Fair Value Disclosures
Total assets	100	100
Fair Value | Marketable equity securities
Fair Value Disclosures
Total assets	19,309	19,943
Fair Value | Securities available for sale
Fair Value Disclosures
Total assets	1	1
Fair Value | Securities held to maturity
Fair Value Disclosures
Total assets	15,790	17,620
Fair Value | Loans receivable, net
Fair Value Disclosures
Total assets	995,041	968,247
Fair Value | Investments in restricted stock
Fair Value Disclosures
Total assets	1,254	1,569
Fair Value | Accrued interest receivable
Fair Value Disclosures
Total assets	4,743	4,283
Level 1 | Fair Value | Cash and cash equivalents
Fair Value Disclosures
Total assets	174,684	152,269
Level 1 | Fair Value | Marketable equity securities
Fair Value Disclosures
Total assets	19,309	19,943
Level 2 | Fair Value | Deposits- liabilities
Fair Value Disclosures
Financial Liabilities	990,986	929,003
Level 2 | Fair Value | FHLB of New York advances
Fair Value Disclosures
Financial Liabilities	20,432	28,283
Level 2 | Fair Value | Certificates of deposit.
Fair Value Disclosures
Total assets	100	100
Level 2 | Fair Value | Securities available for sale
Fair Value Disclosures
Total assets	1	1
Level 2 | Fair Value | Securities held to maturity
Fair Value Disclosures
Total assets	15,790	17,620
Level 2 | Fair Value | Investments in restricted stock
Fair Value Disclosures
Total assets	1,254	1,569
Level 2 | Fair Value | Accrued interest receivable
Fair Value Disclosures
Total assets	4,743	4,283
Level 3 | Fair Value | Loans receivable, net
Fair Value Disclosures
Total assets	$ 995,041	$ 968,247

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue Recognition
Deposit-related fees and charges	$ 18	$ 17
Loan-related fees and charges	171	148
Electronic banking fees and charges	202	157
Income from bank owned life insurance	148	147
Investment advisory fees	137	118
Unrealized gain (loss) on equity securities	(634)	(155)
Miscellaneous	16	11
Total Non-Interest Income	$ 58	$ 443

Other Non-Interest Expenses (De

Other Non-Interest Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Non-Interest Expenses
Other	$ 616	$ 488
Service contracts	257	229
Consulting expense	258	209
Telephone	141	141
Directors compensation	139	144
Audit and accounting	205	124
Insurance	82	73
Director, officer, and employee expense	58	62
Legal fees	154	17
Office supplies and stationary	40	36
Recruiting expense	28
Other non-interest expenses	$ 1,978	$ 1,523