NSTS Bancorp (NSTS) 10-Q 23 Dec 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Dec. 23, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	333-259483
Entity Registrant Name	NSTS Bancorp, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-2522769
Entity Address, Address Line One	700 S. Lewis Ave.
Entity Address, City or Town	Waukegan
Entity Address State Or Province	IL
Entity Address, Postal Zip Code	60085
City Area Code	847
Local Phone Number	336-4430
Title of 12(b) Security	Common Stock
No Trading Symbol Flag	true
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0
Entity Central Index Key	0001881592
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Cash and due from banks	$ 1,074	$ 884
Interest-bearing bank deposits	41,663	30,984
Cash and cash equivalents	42,737	31,868
Time deposits with other financial institutions	5,701	12,436
Securities available for sale	96,994	81,620
Federal Home Loan Bank stock (FHLB)	550	512
Loans held for sale	972	1,972
Loans, net of unearned income	96,934	99,325
Allowance for loan losses	(783)	(870)
Loans, net	96,151	98,455
Premises and equipment, net	5,131	5,213
Accrued interest receivable	630	672
Bank-owned life insurance (BOLI)	9,024	8,890
Other assets	1,991	581
Total assets	259,881	242,219
Deposits:
Noninterest bearing	12,308	9,734
Interest-bearing
Demand and NOW checking	19,933	16,365
Money market	49,941	50,143
Savings	48,537	42,250
Time deposits over $250,000	9,897	10,705
Other time deposits	64,500	57,207
Total deposits	205,116	186,404
Escrow deposits	945	1,519
Other borrowings	5,000	4,000
Accrued expenses and other liabilities	2,872	3,571
Total liabilities	213,933	195,494
Members' equity:
Retained earnings	45,322	45,320
Accumulated other comprehensive income, net	626	1,405
Total members' equity	45,948	46,725
Total liabilities and members' equity	$ 259,881	$ 242,219

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest income:
Loans, including fees	$ 853	$ 985	$ 2,662	$ 3,109
Securities
Taxable	268	251	846	889
Tax-exempt	59	60	180	211
Federal funds sold and other	7	8	16	122
Time deposits with other financial institutions	11	80	59	325
FHLB Stock	3	3	10	9
Total interest income	1,201	1,387	3,773	4,665
Interest expense:
Deposits	225	343	716	1,183
Net interest income	976	1,044	3,057	3,482
(Release of) provision for loan losses	(12)	90	5	310
Net interest income after provision for loan losses	988	954	3,052	3,172
Noninterest income:
Gain on sale of mortgage loans	71	246	316	392
Gain on sale of securities	131		131	59
Rental income on office building	11	11	32	32
Service charges on deposits	74	64	216	191
Increase in cash surrender value of BOLI	46	46	134	136
Other	40	57	142	118
Total noninterest income	373	424	971	928
Noninterest expense:
Salaries and employee benefits	824	938	2,515	2,737
Equipment and occupancy	168	167	509	519
Data processing	136	152	464	398
Advertising	15	11	53	51
Supervisory fees and assessments	32	32	95	85
Loan expenses	27	41	99	100
Foreclosure and other real estate owned expenses	14	3	22	6
Other	140	254	512	730
Total noninterest expense	1,356	1,598	4,269	4,626
Income (losses) before income taxes	5	(220)	(246)	(526)
Income tax benefit	(12)	(245)	(248)	(327)
Net income (losses)	$ 17	$ 25	$ 2	$ (199)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Losses) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated Statements of Comprehensive Income (Losses)
Net income (losses)	$ 17	$ 25	$ 2	$ (199)
Unrealized net holding gain (loss) on securities
Unrealized net holding gain on securities arising during period, net of realized gains on sales	79	376	(1,090)	1,554
Tax effect	(23)	(107)	311	(443)
Other comprehensive (loss) income, net of taxes	56	269	(779)	1,111
Comprehensive (loss) income	$ 73	$ 294	$ (777)	$ 912

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Losses) (unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated Statements of Comprehensive Income (Losses)
Realized gains on sales	$ 131,000	$ 0	$ 131,000	$ 59,000

Consolidated Statements of Memb

Consolidated Statements of Members' Equity (unaudited) - USD ($) $ in Thousands	Retained earnings	Accumulated other comprehensive income (loss)	Total
Beginning balance at Dec. 31, 2019	$ 45,431	$ 333	$ 45,764
Net income (losses)	(199)		(199)
Change in net unrealized gain (loss) on securities available for sale, net		1,111	1,111
Ending balance at Sep. 30, 2020	45,232	1,444	46,676
Beginning balance at Jun. 30, 2020	45,107	1,175	46,382
Net income (losses)	25		25
Change in net unrealized gain (loss) on securities available for sale, net		269	269
Ending balance at Sep. 30, 2020	45,232	1,444	46,676
Beginning balance at Dec. 31, 2020	45,320	1,405	46,725
Net income (losses)	2		2
Change in net unrealized gain (loss) on securities available for sale, net		(779)	(779)
Ending balance at Sep. 30, 2021	45,322	626	45,948
Beginning balance at Jun. 30, 2021	45,305	570	45,875
Net income (losses)	17		17
Change in net unrealized gain (loss) on securities available for sale, net		56	56
Ending balance at Sep. 30, 2021	$ 45,322	$ 626	$ 45,948

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income (losses)	$ 2	$ (199)
Adjustments to reconcile net income (losses) to net cash provided by operating activities:
Depreciation	202	219
Securities amortization and accretion, net	972	580
Loans originated for sale	(14,078)	(25,212)
Proceeds from sales of loans held for sale	15,393	20,631
Gain on sale of mortgage loans	(316)	(392)
Gain on sale of investments	(131)	(59)
Gain on transfer to OREO	(15)
Provision for loan losses	5	310
Earnings on bank owned life insurance	(134)	(136)
Increase in accrued interest receivable and other assets	(925)	(106)
Net increase (decrease) in accrued expenses and other liabilities	(698)	359
Net cash provided by (used in) operating activities	277	(4,005)
Cash flows from investing activities:
Net decrease (increase) in portfolio loans	2,112	(1,561)
Principal repayments on mortgage-backed securities	12,937	9,399
Purchases of securities available for sale	(39,056)	(25,282)
Maturities and calls of securities available for sale	2,045	1,465
Sale of securities available for sale	6,769	12,112
Sale of OREO	68
Purchase of Federal Home Loan Bank stock	(38)
Decrease in time deposits with other financial institutions, net	6,735	5,975
Purchases of premises and equipment, net	(120)	(45)
Net cash (used in) provided by investing activities	(8,548)	2,063
Cash flows from financing activities:
Net change in deposits	18,712	(1,341)
Net change in escrow deposits	(574)	(742)
Repayment of FHLB Advance	(4,000)
Proceeds from FHLB Advance	5,000	4,000
Net cash provided by financing activities	19,138	1,917
Net change in cash and cash equivalents	10,867	(25)
Cash and cash equivalents at beginning of period	31,868	32,379
Cash and cash equivalents at end of period	42,737	32,354
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	732	$ 1,222
Noncash activity:
Loans transferred to OREO	$ 187

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Notes to the Unaudited Consolidated Financial Statements Note 1: Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements (“the financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and conform to practices within the banking industry. The accounting policies followed in the preparation of the interim consolidated financial statements are consistent with those used in the preparation of the annual financial statements. The interim consolidated financial statements reflect all normal and recurring adjustments that are necessary, in the opinion of management, for fair statement of results for the interim periods presented. Results for the period ended September 30, 2021, are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Nature of Operations NSTS Bancorp, Inc. was formed to serve as the stock holding company for North Shore Trust and Savings (the “Bank”) in connection with the conversion of North Shore Trust and Savings, NSTS Financial Corporation and North Shore MHC (collectively, the “Company,” “we” or “our”), into the stock form of organization. As of September 30, 2021, the reorganization had not been completed and the NSTS Bancorp, Inc. had no assets or liabilities and had not conducted any business activities other than organizational activities. Accordingly, the unaudited financial statements and other financial information contained in this Quarterly Report on Form 10-Q relate solely to the consolidated financial results of North Shore MHC, NSTS Financial Corporation and North Shore Trust and Savings. The unaudited financial statements and other financial information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements, and related notes, of North Shore MHC at and for the year ended December 31, 2020 contained in the NSTS Bancorp, Inc.’s definitive prospectus dated November 10, 2021 (the “Prospectus”), as filed with the Securities and Exchange Commission pursuant to Securities Act Rule 424(b)(3) on November 12, 2021. The Bank operates primarily in the northern suburbs of Chicago, Illinois. The Bank offers a variety of financial services to customers in the surrounding community. Financial services consist primarily of 1-4 family mortgage loans, savings accounts, and certificate of deposit accounts. There are no significant concentrations of loans to any one industry or customer. The Bank’s exposure to credit risk is significantly affected by changes in the economy in the Bank’s market area. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 the reported amounts of revenue and expenses during the reporting period. Actual results may vary from those estimates. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral. The Bank’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Bank to recognize additional losses based on their judgments of information available to them at the time of their examination. Due to these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. Additional material estimates that are particularly susceptible to significant change in the near term include the determination of the valuation allowance on deferred tax assets and the valuation of investment securities and the related tax effect. Comprehensive Income (Losses) Comprehensive income includes net income (losses) and other changes in net worth which bypass the statement of operations. For all periods presented, other comprehensive income includes only one additional component, the change in unrealized gains on available-for-sale investment securities. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents includes cash on hand and amounts due from banks, including cash items in process of clearing. Time Deposits with Other Financial Institutions Time deposits with other financial institutions are carried at cost and generally mature within the next two years. Investment Securities Securities are classified as available-for-sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss). Discounts are accreted into interest income over the estimated life of the related security and premiums are amortized into income over the earlier of the call date or weighted average life of the related security using the level yield method. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. Securities available-for-sale are securities that are intended to be held for indefinite periods of time, but which may not be held to maturity. These securities may be used as a part of the Bank’s asset/liability management strategy and may be sold in response to changes in interest rates, deterioration of issuer’s creditworthiness, or due to a desire to increase capital or liquidity. The Bank conducts a periodic review of available-for-sale securities with declines in fair value below their cost to evaluate if the impairment is other than temporary. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than amortized cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Credit-related impairments of debt securities are recorded through earnings, and any impairment as a result of other factors is included in accumulated other comprehensive income. Federal Home Loan Bank of Chicago Stock The Bank, as a member of the Federal Home Loan Bank of Chicago (FHLB), is required to maintain an investment in capital stock of the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market price and is carried at cost of $550,000 and $512,000 at September 30, 2021 and December 31, 2020, respectively, and is evaluated for impairment at each reporting date. Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights released. Gains or losses are recognized through earnings. Loans The Bank’s loan portfolio includes segments for mortgage loans and consumer loans. Mortgage loans include classes for 1-4 family, multi-family, and commercial. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for charge offs, the allowance for loan losses, and any deferred fees or costs on originated loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment to the related loan yield using the interest method, adjusted for prepayments. The accrual of interest on all loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until the loans qualify for return to accrual. Loans are returned to accrual status when payment of all the principal and interest amounts contractually due is reasonably assured. Allowance for Loan Losses The allowance for loan losses (the “allowance”) is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general and allocated components, as further described below. General Component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: first mortgage loans and consumer and other loans. Management uses an average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards, and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Mortgage Loans Loans in this segment are made to individuals and commercial borrowers. The loans are secured by real estate with the Bank typically in a first lien position. The Bank generally does not originate loans with a loan-to-value ratio greater than 80% unless mortgage insurance is obtained and generally does not grant loans that would be classified as subprime upon origination. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Consumer Loans Loans in this segment are generally to individuals and are supported by non-real estate collateral, such as deposit accounts and personal property. Unsecured loans are also included in this segment. Repayment is dependent on the credit quality of the individual borrower or borrowers. Allocated Component The allocated component relates to loans that are classified as impaired. Based on internal ratings, loans are evaluated for impairment on a loan-by-loan basis. Impairment is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all circumstances surrounding the loan and borrower, including the length of the delay, reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the amount of principal and interest owed. The Bank periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (TDR). All TDRs are classified as impaired and management performs an impairment analysis at the time of restructuring. Premises and Equipment Land is stated at cost. Property, improvements, and equipment are stated at cost less accumulated depreciation. Depreciation is determined under the straight-line method over the following estimated useful lives of assets: ​ ​ ​ ​ Land improvements 3 - 10 years Office building and improvements ​ 10 - 40 years Furniture and equipment 3 - 10 years ​ Income Taxes We record our tax provision or benefit on an interim basis using the estimated annual effective tax rate. This rate is applied to the current period ordinary income or loss to determine the income tax provision or benefit allocated to the interim period. The estimated annual effective tax rate may be significantly affected by nondeductible expenses and certain tax preference items. Adjustments to the estimated annual effective income tax rate are recognized in the period during which such estimates are revised. Deferred taxes are recognized using the asset/liability method. Deferred tax assets are recognized for deductible temporary differences, operating loss and tax credit carryforwards; deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the financial statement amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceed the amount measured as described above, if any, is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet, along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits, if any, are classified as additional income taxes in the statement of operations. Bank management believes that the Bank maintains no uncertain tax positions for tax reporting purposes and accordingly, no liability is required to be recorded. The Bank is subject to U.S. federal income tax as well as income tax of the States of Illinois and Wisconsin. Other Real Estate Owned Property acquired in satisfaction of debt or through foreclosure is carried at the lower of cost or market value less estimated costs to sell. At foreclosure, if the fair value of the property acquired is less than the recorded investment in the related loan, a reduction in the carrying amount of the loan is recognized with a charge to the allowance for loan losses. The cost of carrying the assets subsequent to foreclosure and any decrease in the market value occurring after that date are charged to operating expenses as incurred. Bank-owned Life Insurance The Bank purchased life insurance policies on certain key executives. Bank-owned life insurance is recorded at the amount estimated to be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due which are probable at settlement. Service Charges on Deposits Service charges on deposits represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue, or some other individual attribute-based revenue. Revenue is recognized when the Bank’s performance obligation is completed, which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time performance obligations are satisfied. Accounting Developments Accounting for Leases The FASB amended its standard related to the accounting for leases. Under the new standard, lessees will now be required to recognize substantially all leases on the balance sheet as both a right-of-use asset and a liability. The standard has two types of leases for income statement recognition purposes: operating leases and finance leases. Operating leases will result in the recognition of a single lease expense on a straight-line basis over the lease term similar to the treatment for operating leases under existing standards. Finance leases will result in an accelerated expense similar to the accounting for capital leases under existing standards. The determination of lease classification as operating or finance will be done in a manner similar to existing standards. The new standard also contains amended guidance regarding the identification of embedded leases in service contracts and the identification of lease and non-lease components in an arrangement. The new standard is effective for annual periods beginning after December 15, 2021, and any interim periods within annual reporting periods that begin after December 15, 2022. The Bank has reviewed the amendment and determined it will not have a material impact on the Bank’s financial statements. Accounting for Financial Instruments – Credit Losses The FASB issued ASU No. 2016-13, Financial Instruments— Credit Losses (Topic 326) The CECL model utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to-maturity securities, and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. For available for-sale securities where fair value is less than cost, credit-related impairment, if any, will be recognized in an allowance for credit losses and adjusted each period for changes in expected credit risk. This model replaces the multiple existing impairment models, which generally require that a loss be incurred before it is recognized. The CECL model represents a significant change from existing practice and may result in material changes to the Bank’s accounting for financial instruments. The Bank is evaluating the effect ASU 2016-13 will have on its consolidated financial statements and related disclosures. The impact of the ASU will depend upon the final standard (as amended), the state of the economy, and the nature of the Bank’s portfolios at the date of adoption. For the Bank, the new standard is effective January 2023.

Securities

Securities	9 Months Ended
	Sep. 30, 2021
Securities
Securities	Note 2: Securities The amortized cost and estimated fair value of debt securities at September 30, 2021 and December 31, 2020, by contractual maturity, are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without any penalties, therefore, these securities have been included in the below table based on average remaining life. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed ​ Collateralized ​ ​ ​ ​ ​ U.S. government ​ Municipal ​ residential ​ mortgage ​ Total available-for- September 30, 2021 agency obligations obligations obligations obligations sale ​ (Dollars in thousands) 1 year or less ​ $ — $ 1,231 $ 456 $ 1,071 ​ $ 2,758 1 to 5 years ​ 3,938 ​ 3,777 ​ 31,185 ​ 17,535 ​ 56,435 5 to 10 years ​ 6,507 ​ 2,867 ​ 13,837 ​ 9,984 ​ 33,195 After 10 years ​ — ​ 2,970 ​ — ​ 1,636 ​ 4,606 Fair value ​ 10,445 ​ 10,845 ​ 45,478 ​ 30,226 ​ 96,994 Gross unrealized gains ​ 163 ​ 464 ​ 426 ​ 441 ​ 1,494 Gross unrealized losses ​ (39) ​ (12) ​ (309) ​ (259) ​ (619) Amortized cost ​ $ 10,321 ​ $ 10,393 ​ $ 45,361 ​ $ 30,044 ​ $ 96,119 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed ​ Collateralized ​ ​ ​ ​ ​ U.S. government ​ Municipal ​ residential ​ mortgage ​ Total available-for- December 31, 2020 agency obligations obligations obligations obligations sale ​ (Dollars in thousands) 1 year or less ​ $ 1,000 $ 768 $ 1,443 $ 383 ​ $ 3,594 1 to 5 years ​ 4,862 ​ 3,726 ​ 34,486 ​ 14,452 ​ 57,526 5 to 10 years ​ 1,285 ​ 4,354 ​ 7,165 ​ 5,564 ​ 18,368 After 10 years ​ — ​ 2,132 ​ — ​ — ​ 2,132 Fair value ​ 7,147 ​ 10,980 ​ 43,094 ​ 20,399 ​ 81,620 Gross unrealized gains ​ 154 ​ 518 ​ 884 ​ 534 ​ 2,090 Gross unrealized losses ​ (17) ​ (18) ​ (22) ​ (66) ​ (123) Amortized cost ​ $ 7,010 $ 10,480 $ 42,232 $ 19,931 ​ $ 79,653 ​ As of September 30, 2021, and December 31, 2020, no securities were pledged to secure public deposits or for other purposes as required or permitted by law. Information pertaining to securities with gross unrealized losses at September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ (Dollars in thousands) ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agency obligations ​ $ 2,383 $ 23 $ 1,154 $ 16 $ 3,537 ​ $ 39 Municipal obligations ​ — ​ — ​ 242 ​ 12 ​ 242 ​ 12 Mortgage-backed residential obligations ​ 19,537 ​ 284 ​ 2,213 ​ 25 ​ 21,750 ​ 309 Collateralized mortgage obligations ​ 18,762 ​ 259 ​ — ​ — ​ 18,762 ​ 259 Total ​ $ 40,682 $ 566 $ 3,609 $ 53 $ 44,291 ​ $ 619 December 31, 2020 ​ ​ ​ ​ ​ ​ U.S. government agency obligations ​ $ 1,284 $ 17 $ — $ — $ 1,284 ​ $ 17 Municipal obligations ​ — ​ — ​ 238 ​ 18 ​ 238 ​ 18 Mortgage-backed residential obligations ​ 5,265 ​ 17 ​ 1,170 ​ 5 ​ 6,435 ​ 22 Collateralized mortgage obligations ​ 8,694 ​ 66 ​ 241 ​ — ​ 8,935 ​ 66 Total ​ $ 15,243 $ 100 $ 1,649 $ 23 $ 16,892 ​ $ 123 ​ At September 30, 2021 and December 31, 2020, certain investment securities were in unrealized loss positions. Some investment securities have declined in value but do not presently represent realized losses. Unrealized losses on investment securities have not been recognized into income because the issuers’ bonds are of high credit quality, the Bank has the intent and ability to hold the securities for the foreseeable future, and the declines in fair value are primarily due to market volatility. The fair values are expected to recover as the bonds approach their maturity dates. The following table provides a summary of the proceeds from sales of securities available-for-sale, as well as gross gains and losses, for the periods presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Proceeds from sales of securities available-for-sale ​ $ 6,769 ​ $ — ​ $ 6,769 ​ $ 12,112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross realized gains ​ 131 ​ — ​ 131 ​ 114 Gross realized losses ​ — ​ — ​ — ​ (55) ​

Loans and allowance for loan lo

Loans and allowance for loan losses	9 Months Ended
	Sep. 30, 2021
Loans and allowance for loan losses
Loans and allowance for loan losses	Note 3: Loans and allowance for loan losses A summary of loans by major category as of September 30, 2021 and December 31, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ (Dollars in thousands) First mortgage loans ​ ​ 1-4 family residential ​ $ 87,184 ​ $ 87,197 Multi-family ​ 4,221 ​ 5,737 Commercial ​ 4,453 ​ 5,340 Total first mortgage loans ​ 95,858 ​ 98,274 Consumer loans ​ 324 ​ 385 Total loans ​ 96,182 ​ 98,659 Net deferred loan costs ​ 752 ​ 666 Allowance for loan losses ​ (783) ​ (870) Total loans, net ​ $ 96,151 ​ $ 98,455 ​ First mortgage loans serviced for others are not included in the accompanying balance sheets. The unpaid principal balance of these loans totaled $16.9 million and $16.0 million at September 30, 2021 and December 31, 2020, respectively. Custodial escrow balances maintained in connection with the loans serviced were $142,000 and $268,000 at September 30, 2021 and December 31, 2020, respectively. In the normal course of business, loans are made to directors and officers of the Bank (related parties). The terms of these loans, including interest rate and collateral, are similar to those prevailing for comparable transactions with other customers and do not involve more than a normal risk of collectability. At September 30, 2021 and December 31, 2020, such borrowers were indebted to the Bank in the aggregate amount of $687,000 and $928,000, respectively. Changes in the allowance for loan losses and the related loan balance information as of and for the three and nine months ended September 30, 2021 and 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Three months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 695 ​ $ 52 ​ $ 25 ​ $ 10 ​ $ — ​ $ 792 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 3 ​ — ​ — ​ — ​ — ​ 3 Net recoveries (charge-offs) ​ 3 ​ — ​ — ​ — ​ — ​ 3 (Release of) provision for loan losses ​ 1 ​ (13) ​ — ​ — ​ — ​ (12) Ending balance ​ $ 679 ​ $ 39 ​ $ 25 ​ $ 10 ​ $ 30 ​ $ 783 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Three months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 538 ​ $ 24 ​ $ 13 ​ $ 1 ​ $ 40 ​ $ 616 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 3 ​ — ​ — ​ — ​ — ​ 3 Net recoveries ​ 3 ​ — ​ — ​ — ​ — ​ 3 (Release of) provision for loan losses ​ 18 ​ — ​ (1) ​ — ​ 73 ​ 90 Ending balance ​ $ 559 ​ $ 24 ​ $ 12 ​ $ 1 ​ $ 113 ​ $ 709 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Nine months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 798 ​ $ 29 ​ $ 38 ​ $ 5 ​ $ — ​ $ 870 Charge-offs ​ — ​ — ​ — ​ (99) ​ — ​ (99) Recoveries ​ 7 ​ — ​ — ​ — ​ — ​ 7 Net recoveries (charge-offs) ​ 7 ​ — ​ — ​ (99) ​ — ​ (92) Provision for loan losses ​ (126) ​ 10 ​ (13) ​ 104 ​ 30 ​ 5 Ending balance ​ $ 679 ​ $ 39 ​ $ 25 ​ $ 10 ​ $ 30 ​ $ 783 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Nine months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 361 ​ $ 10 ​ $ 9 ​ $ 8 ​ $ — ​ $ 388 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 11 ​ — ​ — ​ — ​ — ​ 11 Net recoveries ​ 11 ​ — ​ — ​ — ​ — ​ 11 Provision for loan losses ​ 187 ​ 14 ​ 3 ​ (7) ​ 113 ​ 310 Ending balance ​ $ 559 ​ $ 24 ​ $ 12 ​ $ 1 ​ $ 113 ​ $ 709 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collectively evaluated ​ Individually evaluated ​ Total ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ Recorded ​ ​ ​ ​ Recorded ​ ​ Allowance for ​ investment in ​ Allowance for ​ investment in ​ Allowance for ​ investment in ​ ​ loan losses ​ loans ​ loan losses ​ loans ​ loan losses ​ loans ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ 555 ​ $ 85,205 ​ $ 124 ​ $ 1,979 ​ $ 679 ​ $ 87,184 Multi-family ​ 39 ​ ​ 4,221 ​ ​ — ​ ​ — ​ ​ 39 ​ 4,221 Commercial ​ 25 ​ ​ 4,453 ​ ​ — ​ ​ — ​ ​ 25 ​ 4,453 Consumer ​ 10 ​ ​ 324 ​ ​ — ​ ​ — ​ ​ 10 ​ 324 Unallocated ​ 30 ​ ​ — ​ ​ 30 ​ ​ ​ ​ ​ Total ​ $ 659 ​ $ 94,203 ​ $ 124 ​ $ 1,979 ​ $ 783 ​ $ 96,182 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ 648 ​ $ 84,774 ​ $ 150 ​ $ 2,423 ​ $ 798 ​ $ 87,197 Multi-family ​ 29 ​ ​ 5,737 ​ ​ — ​ ​ — ​ ​ 29 ​ 5,737 Commercial ​ 38 ​ ​ 5,340 ​ ​ — ​ ​ — ​ ​ 38 ​ 5,340 Consumer ​ 5 ​ ​ 286 ​ ​ — ​ ​ 99 ​ ​ 5 ​ 385 Total ​ $ 720 ​ $ 96,137 ​ $ 150 ​ $ 2,522 ​ $ 870 ​ $ 98,659 ​ The Bank evaluates collectability based on payment activity and other factors. The Bank uses a graded loan rating system as a means of identifying potential problem loans, as follows: Pass Loans in these categories are performing as expected with low to average risk. Special Mention Loans in this category are internally designated by management as “watch loans.” These loans are starting to show signs of potential weakness and are closely monitored by management. Substandard Loans in this category are internally designated by management as “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the paying capacity of the obligors or the current net worth of the collateral pledged. Substandard loans present a distinct possibility that the Bank will sustain losses if such weaknesses are not corrected. Doubtful Loans classified as doubtful have all the weaknesses inherent in those designated as “substandard” with the added characteristic that the weaknesses may make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. On an annual basis, or more often if needed, the Bank formally reviews the ratings on commercial loans. In addition, the Bank engages an independent third party to review a significant portion of the commercial loan portfolio. Management uses the results of the independent review as part of its annual review process. The following table presents loan balances based on risk rating as of September 30, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful Total loans ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ 1-4 family residential ​ $ 86,670 $ 409 $ 105 $ — ​ $ 87,184 Multi-family ​ 4,221 — — — ​ 4,221 Commercial ​ 4,453 — — — ​ 4,453 Consumer ​ 324 — — — ​ 324 Total ​ $ 95,668 $ 409 $ 105 $ — ​ $ 96,182 December 31, 2020 ​ ​ 1-4 family residential ​ $ 86,500 $ 417 $ 280 $ — ​ $ 87,197 Multi-family ​ 5,737 — — — ​ 5,737 Commercial ​ 5,340 — — — ​ 5,340 Consumer ​ 286 99 — — ​ 385 Total ​ $ 97,863 $ 516 $ 280 $ — ​ $ 98,659 ​ The aging of the Bank’s loan portfolio as of September 30, 2021 and December 31, 2020, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater than ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days Past ​ ​ ​ ​ Total Past Due ​ ​ ​ ​ ​ ​ ​ ​ 31-89 Days Past Due ​ Due and ​ ​ ​ ​ and Non- ​ ​ ​ ​ Total Loan ​ ​ and Accruing ​ Accruing ​ Non-Accrual ​ Accrual ​ Current ​ Balance ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ — $ 43 $ 105 $ 148 $ 87,036 ​ $ 87,184 Multi-family ​ — ​ — ​ — ​ — ​ 4,221 ​ 4,221 Commercial ​ — ​ — ​ — ​ — ​ 4,453 ​ 4,453 Consumer ​ — ​ — ​ — ​ — ​ 324 ​ 324 Total ​ $ — $ 43 $ 105 $ 148 $ 96,034 ​ $ 96,182 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ — $ 75 $ 280 $ 355 $ 86,842 ​ $ 87,197 Multi-family ​ — ​ — ​ — ​ — ​ 5,737 ​ 5,737 Commercial ​ — ​ — ​ — ​ — ​ 5,340 ​ 5,340 Consumer ​ 99 ​ — ​ — ​ 99 ​ 286 ​ 385 Total ​ $ 99 $ 75 $ 280 $ 454 $ 98,205 ​ $ 98,659 ​ Loans individually evaluated for impairment as of September 30, 2021 and December 31, 2020, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment Unpaid principal balance Related allowance ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ With no related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 1,135 $ 1,457 ​ $ — Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total ​ $ 1,135 $ 1,457 ​ $ — With a related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 844 $ 854 ​ $ 124 Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total ​ $ 844 $ 854 ​ $ 124 Balance at September 30, 2021 ​ $ 1,979 $ 2,311 ​ $ 124 December 31, 2020 ​ ​ ​ With no related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 1,348 $ 1,676 ​ $ — Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ 99 ​ 99 ​ — Total ​ $ 1,447 $ 1,775 ​ $ — With a related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 1,075 $ 1,120 ​ $ 150 Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total ​ $ 1,075 $ 1,120 ​ $ 150 Balance at December 31, 2020 ​ $ 2,522 $ 2,895 ​ $ 150 ​ The average recorded investment and interest income recognized for the loans individually evaluated for impairment for the three months ended September 30, 2021 and 2020, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Average recorded ​ ​ ​ ​ investment ​ Interest income recognized ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 1,141 ​ $ 15 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,141 ​ $ 15 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 850 ​ $ 10 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 850 ​ $ 10 Balance for the three months ended September 30, 2021 ​ $ 1,991 ​ $ 25 September 30, 2020 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 974 ​ $ 13 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 974 ​ $ 13 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 1,092 ​ $ 13 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,092 ​ $ 13 Balance for the three months ended September 30, 2020 ​ $ 2,066 ​ $ 26 ​ The average recorded investment and interest income recognized for the loans individually evaluated for impairment for the nine months ended September 30, 2021 and 2020, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Average recorded ​ ​ ​ ​ investment ​ Interest income recognized ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 1,155 ​ $ 52 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,155 ​ $ 52 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 860 ​ $ 29 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 860 ​ $ 29 Balance for the nine months ended September 30, 2021 ​ $ 2,015 ​ $ 81 September 30, 2020 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 988 ​ $ 39 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 988 ​ $ 39 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 1,100 ​ $ 37 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,100 ​ $ 37 Balance for the nine months ended September 30, 2020 ​ $ 2,088 ​ $ 76 ​ Troubled debt restructurings provide for modifications to repayment terms; more specifically, modifications to loan interest rates. Management performs an impairment analysis at the time of restructuring and periodically thereafter. Any reserve required is recorded through a provision to the allowance for loan losses. There were no new troubled debt restructurings during the three and nine months ended September 30, 2021 or 2020. In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed into law. Among other things, the CARES Act suspends the requirements related to accounting for TDRs for certain loan modifications related to the COVID-19 pandemic. The Bank has minimal direct exposure to consumer, commercial, and other small businesses that may be negatively impacted by COVID-19, but management has analyzed and increased the qualitative factors in these and other loan categories for incurred, but not yet identified loan losses attributable to COVID-19. As of September 30, 2021, management did not see significant disruption with existing customers related to COVID-19. However, Management did grant customer requests to defer payments on 50 loans with unpaid balances of $9.7 million between March 2020 and September 2021. As of September 30, 2021, two loans remain in deferral with unpaid balances of $127,000. Management has also assisted small businesses that could benefit from the CARES Act, particularly in the SBA’s Paycheck Protection Program (“PPP”). As of September 30, 2021, the Company had approximately $71,000 of outstanding loans to small businesses under this program. The loans are guaranteed by the SBA and loan proceeds to borrowers are forgivable by the SBA if certain criteria are met.

Other Real Estate Owned

Other Real Estate Owned	9 Months Ended
	Sep. 30, 2021
Other Real Estate Owned
Other Real Estate Owned	Note 4: Other Real Estate Owned At September 30, 2021 and December 31, 2020, the balance of other real estate owned was $118,000 and $0, respectively. The following table represents the movement in OREO during the periods presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, Nine months ended September 30, ​ ​ ​ 2021 ​ ​ 2020 ​ ​ 2021 ​ ​ 2020 ​ ​ (Dollars in thousands) Transfer of loan to OREO ​ $ 118 ​ $ — ​ $ 187 ​ $ — Sale of OREO ​ 68 ​ — ​ 68 ​ — Gross gain realized on transfer to OREO ​ 9 ​ — ​ 15 ​ — Gross gain realized on sale of OREO ​ — ​ — ​ — ​ — ​ The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process is $60,000 and $111,000, as of September 30, 2021 and December 31, 2020, respectively.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2021
Deposits.
Deposits	Note 5: Deposits As of September 30, 2021, for years below ended September 30, the scheduled maturities of time deposits are as follows: ​ ​ ​ ​ ​ For the 12 months ended ​ ​ ​ September 30, Amount ​ ​ (Dollars in thousands) 2022 ​ $ 39,392 2023 ​ 14,765 2024 ​ 10,282 2025 ​ 5,695 2026 and beyond ​ 4,263 Total ​ $ 74,397 ​ In the normal course of business, deposit accounts are held by directors and executive officers of the Bank (related parties). The terms for these accounts, including interest rates, fees, and other attributes, are similar to those prevailing for comparable transactions with other customers and do not involve more than the normal level of risk associated with deposit accounts. At September 30, 2021 and December 31, 2020, total deposits held by directors and officers of the Bank were $1.6 million and $4.3 million, respectively.

Other Borrowings

Other Borrowings	9 Months Ended
	Sep. 30, 2021
Other Borrowings.
Other Borrowings	Note 6: Other Borrowings On May 21, 2021, the Bank obtained a non-interest bearing FHLB advance totaling $5.0 million. This advance is collateralized by loans pledged to the FHLB and matures on May 21, 2022. Additionally, on May 21, 2021, the Bank repaid the existing non-interest bearing FHLB advance totaling $4.0 million that was due on May 24, 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Measurements
Fair Value Measurements	Note 7: Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs supported by little or no market activity and are significant to the fair value of the assets or liabilities An asset’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at September 30, 2021 or December 31, 2020. Available-for-Sale Securities (Recurring) Where quoted market prices are available in an active market, securities such as U.S. Treasuries, would be classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities would be classified within Level 3 of the hierarchy. Other Real Estate Owned (Nonrecurring) The Bank records other real estate owned at fair value less costs to sell. Fair value is commonly based on recent real estate appraisals which are typically updated no less frequently than annually. These appraisals usually utilize a single valuation approach or may use a combination of approaches including comparable sales and the income approach. Adjustments may be made in the appraisal process by the independent appraisers to adjust for differences between comparable sales and income data available. Other real estate owned properties are evaluated on an annual basis for additional impairment and adjusted accordingly. Impaired Loans (Nonrecurring) Impaired loans are recorded at fair value on a nonrecurring basis. The fair value of loans is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Impaired loans that are valued based on the present value of future cash flows are not considered in the fair value hierarchy. The following table presents the Bank’s assets that are measured at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of September 30, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ Fair Value Level 1 Level 2 Level 3 ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ Securities Available-for-sale ​ ​ ​ ​ U.S. government agency obligations ​ $ 10,445 $ — $ 10,445 ​ $ — Municipal obligations ​ 10,845 ​ — ​ 10,845 ​ — Mortgage-backed residential obligations ​ 45,478 ​ — ​ 45,478 ​ — Collateralized mortgage obligations ​ 30,226 ​ — ​ 30,226 ​ — Loans held for sale ​ 972 ​ — ​ 972 ​ — Total ​ $ 97,966 $ — $ 97,966 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ Securities Available-for-sale ​ ​ ​ ​ U.S. government agency obligations ​ $ 7,147 $ — $ 7,147 ​ $ — Municipal obligations ​ 10,980 ​ — ​ 10,980 ​ — Mortgage-backed residential obligations ​ 43,094 ​ — ​ 43,094 ​ — Collateralized mortgage obligations ​ 20,399 ​ — ​ 20,399 ​ — Loans held for sale ​ 1,972 ​ — ​ 1,972 ​ — Total ​ $ 83,592 $ — $ 83,592 ​ $ — ​ The Bank may be required, from time to time, to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with accounting principles generally accepted in the United States of America. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis and the valuation techniques used to measure nonrecurring Level 3 fair value measurements as of September 30, 2021 and December 31, 2020, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ Impaired loans ​ $ 721 — — $ 721 OREO ​ ​ 118 — — ​ 118 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Impaired loans ​ $ 925 — — $ 925 ​ The numerical range of unobservable inputs for the valuation assumptions used in calculating the amounts disclosed above is not meaningful to this presentation.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 8: Fair Value of Financial Instruments Financial instruments are classified within the fair value hierarchy using the methodologies described in Note 13 – Fair Value Measurements. The following disclosures include financial instruments that are not carried at fair value on the Consolidated Balance Sheets. The carrying value of short-term financial instruments approximates the fair value of these instruments. These financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. Under the fair value hierarchy, cash and cash equivalents as well as non-interest-bearing deposit accounts are classified as Level 1. Time deposits with other financial institutions, FHLB stock, escrow deposits, and accrued interest receivable and payable are classified as Level 2. The carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ Amount Level 1 Level 2 Level 3 Fair Value ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ Loans, net ​ $ 96,151 ​ $ — ​ $ 98,483 ​ $ — ​ $ 98,483 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing deposits ​ $ 192,808 ​ $ — ​ $ 191,318 ​ $ — ​ $ 191,318 FHLB Advance ​ ​ 5,000 ​ ​ — ​ ​ 5,009 ​ ​ — ​ ​ 5,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ Loans, net ​ $ 98,455 ​ $ — ​ $ 102,034 ​ $ — ​ $ 102,034 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing deposits ​ $ 176,670 ​ $ — ​ $ 177,280 ​ $ — ​ $ 177,280 FHLB Advance ​ ​ 4,000 ​ ​ — ​ ​ 4,012 ​ ​ — ​ ​ 4,012 ​

Capital Ratios

Capital Ratios	9 Months Ended
	Sep. 30, 2021
Capital Ratios
Capital Ratios	Note 9: Capital Ratios ​ The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under accounting principles generally accepted in the United States of America, regulatory reporting requirements and regulatory capital standards. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. ​ Quantitative measures established by regulatory reporting standards to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier I capital to risk-weighted assets, common equity Tier 1 capital to total risk-weighted assets and of Tier I capital to average assets, as such individual components and calculations are defined by related standards. ​ As of September 30, 2021, the most recent notification from the regulators categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification which management believes have changed the Bank’s category. On November 13, 2019, the federal regulators finalized and adopted a regulatory capital rule establishing a new community bank leverage ratio (“CBLR”), which became effective on January 1, 2020. The intent of CBLR is to provide a simple alternative measure of capital adequacy for electing qualifying depository institutions and depository institution holding companies, as directed under the Economic Growth, Relief, and Consumer Protection Act. Under CBLR, if a qualifying depository institution or depository institution holding company elects to use such measure, such institution or holding company will be considered well capitalized if its ratio of Tier 1 capital to average total consolidated assets (i.e., leverage ratio) exceeds 9% subject to a limited two quarter grace period, during which the leverage ratio cannot go 100 basis points below the then applicable threshold, and will not be required to calculate and report risk-based capital ratios. In April 2020, under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the 9% leverage ratio threshold was temporarily reduced to 8% in response to the COVID-19 pandemic. The threshold will increase to 8.5% in 2021 and return to 9% in 2022. The Bank elected to begin using CBLR for the first quarter of 2020. Management believes, as of September 30, 2021, that the Bank met all capital adequacy requirements to which it was subject. ​ The Bank’s actual capital amounts and ratios as of September 30, 2021 and December 31, 2020, are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Required to be ​ ​ Actual ​ Well-Capitalized (1) ​ ​ Amount Ratio Amount Ratio As of September 30, 2021 ​ (Dollars in thousands) Tier 1 capital (to Average Assets) ​ $ 44,276 18.33 % $ 20,528 >8.5 % As of December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to Average Assets) ​ $ 44,256 18.41 % $ 21,636 >8 % ​ (1) As defined by regulatory agencies. Failure to exceed the leverage ratio thresholds required under CBLR in the future, subject to any applicable grace period, would require the Bank to return to the risk-based capital ratio thresholds previously utilized under the fully phased-in Basel III Capital Rules to determine capital adequacy.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	Note 10: Commitments and Contingencies ​ In the ordinary course of business, the Bank has various commitments and contingent liabilities that are not reflected in the accompanying financial statements. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the financial position of the Bank. ​ Financial Instruments The Bank does not engage in the use of interest rate swaps or futures, forwards or option contracts. ​ At September 30, 2021 and December 31, 2020, outstanding commitments to originate loans were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ (Dollars in thousands) Total commitments ​ $ 5,695 ​ $ 5,156 ​ Concentrations of Credit Risk The Bank generally originates single-family residential loans within its primary lending area which is Waukegan, Illinois and the surrounding area. The Bank’s underwriting policies require such loans to be made at approximately 80% loan-to-value, based upon appraised values, unless private mortgage insurance is obtained, or the loan is guaranteed by the government. These loans are secured by the underlying properties. ​ The Bank maintains its cash in deposit accounts at the Federal Reserve Bank or other institutions, the balances of which may exceed federally insured limits. The Bank has not experienced any losses in such accounts. The Bank believes it is not exposed to any significant credit risk on cash and cash equivalents. ​ Interest Rate Risk The Bank assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, fair values of its financial instruments will change when interest rate levels change, and that change may be either favorable or unfavorable to the Bank. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the overall interest rate risk. ​ Litigation Due to the nature of its business activities, the Bank is at times subject to legal action which arises in the normal course of business. In the opinion of management, the ultimate resolution of these matters is not expected to have a material effect on the financial position or results of operations of the Bank.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events
Subsequent Events	Note 11: Subsequent Events We have evaluated the effects of events and transactions through the date of this filing that have occurred subsequent to September 30, 2021. Other than the Plan of Conversion as discussed below, management does not believe there were any material subsequent events during this period that would have required further recognition or disclosure in the unaudited consolidated financial statements included in this report. Plan of Conversion The Boards of Directors of North Shore MHC and NSTS Financial Corporation have adopted the Plan of Conversion. Pursuant to the Plan of Conversion, our organization will convert form the mutual holding company form of organization to the stock form of organization. North Shore MHC will be merged into NSTS Financial Corporation, and North Shore MHC will no longer exist. NSTS Financial Corporation, which owns 100% of North Shore Trust and Savings, will be merged into NSTS Bancorp, Inc. When the conversion is completed, all of the outstanding common stock of North Shore Trust and Savings will be owned by NSTS Bancorp, Inc., and all of the outstanding common stock of NSTS Bancorp, Inc. will be owned by public shareholders. The Securities and Exchange Commission declared NSTS Bancorp, Inc.’s Registration Statement effective on November 10, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Summary of Significant Accounting Policies
Nature of Operations	Nature of Operations NSTS Bancorp, Inc. was formed to serve as the stock holding company for North Shore Trust and Savings (the “Bank”) in connection with the conversion of North Shore Trust and Savings, NSTS Financial Corporation and North Shore MHC (collectively, the “Company,” “we” or “our”), into the stock form of organization. As of September 30, 2021, the reorganization had not been completed and the NSTS Bancorp, Inc. had no assets or liabilities and had not conducted any business activities other than organizational activities. Accordingly, the unaudited financial statements and other financial information contained in this Quarterly Report on Form 10-Q relate solely to the consolidated financial results of North Shore MHC, NSTS Financial Corporation and North Shore Trust and Savings. The unaudited financial statements and other financial information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements, and related notes, of North Shore MHC at and for the year ended December 31, 2020 contained in the NSTS Bancorp, Inc.’s definitive prospectus dated November 10, 2021 (the “Prospectus”), as filed with the Securities and Exchange Commission pursuant to Securities Act Rule 424(b)(3) on November 12, 2021. The Bank operates primarily in the northern suburbs of Chicago, Illinois. The Bank offers a variety of financial services to customers in the surrounding community. Financial services consist primarily of 1-4 family mortgage loans, savings accounts, and certificate of deposit accounts. There are no significant concentrations of loans to any one industry or customer. The Bank’s exposure to credit risk is significantly affected by changes in the economy in the Bank’s market area. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 the reported amounts of revenue and expenses during the reporting period. Actual results may vary from those estimates. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral. The Bank’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Bank to recognize additional losses based on their judgments of information available to them at the time of their examination. Due to these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. Additional material estimates that are particularly susceptible to significant change in the near term include the determination of the valuation allowance on deferred tax assets and the valuation of investment securities and the related tax effect.
Comprehensive Income (Losses)	Comprehensive Income (Losses) Comprehensive income includes net income (losses) and other changes in net worth which bypass the statement of operations. For all periods presented, other comprehensive income includes only one additional component, the change in unrealized gains on available-for-sale investment securities.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents includes cash on hand and amounts due from banks, including cash items in process of clearing.
Time Deposits with Other Financial Institutions	Time Deposits with Other Financial Institutions Time deposits with other financial institutions are carried at cost and generally mature within the next two years.
Investment Securities	Investment Securities Securities are classified as available-for-sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss). Discounts are accreted into interest income over the estimated life of the related security and premiums are amortized into income over the earlier of the call date or weighted average life of the related security using the level yield method. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. Securities available-for-sale are securities that are intended to be held for indefinite periods of time, but which may not be held to maturity. These securities may be used as a part of the Bank’s asset/liability management strategy and may be sold in response to changes in interest rates, deterioration of issuer’s creditworthiness, or due to a desire to increase capital or liquidity. The Bank conducts a periodic review of available-for-sale securities with declines in fair value below their cost to evaluate if the impairment is other than temporary. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than amortized cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Credit-related impairments of debt securities are recorded through earnings, and any impairment as a result of other factors is included in accumulated other comprehensive income.
Federal Home Loan Bank Stock	Federal Home Loan Bank of Chicago Stock The Bank, as a member of the Federal Home Loan Bank of Chicago (FHLB), is required to maintain an investment in capital stock of the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market price and is carried at cost of $550,000 and $512,000 at September 30, 2021 and December 31, 2020, respectively, and is evaluated for impairment at each reporting date.
Loans Held for Sale	Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights released. Gains or losses are recognized through earnings.
Loans	Loans The Bank’s loan portfolio includes segments for mortgage loans and consumer loans. Mortgage loans include classes for 1-4 family, multi-family, and commercial. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for charge offs, the allowance for loan losses, and any deferred fees or costs on originated loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment to the related loan yield using the interest method, adjusted for prepayments. The accrual of interest on all loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until the loans qualify for return to accrual. Loans are returned to accrual status when payment of all the principal and interest amounts contractually due is reasonably assured.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses (the “allowance”) is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general and allocated components, as further described below. General Component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: first mortgage loans and consumer and other loans. Management uses an average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards, and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Mortgage Loans Loans in this segment are made to individuals and commercial borrowers. The loans are secured by real estate with the Bank typically in a first lien position. The Bank generally does not originate loans with a loan-to-value ratio greater than 80% unless mortgage insurance is obtained and generally does not grant loans that would be classified as subprime upon origination. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Consumer Loans Loans in this segment are generally to individuals and are supported by non-real estate collateral, such as deposit accounts and personal property. Unsecured loans are also included in this segment. Repayment is dependent on the credit quality of the individual borrower or borrowers. Allocated Component The allocated component relates to loans that are classified as impaired. Based on internal ratings, loans are evaluated for impairment on a loan-by-loan basis. Impairment is measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all circumstances surrounding the loan and borrower, including the length of the delay, reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the amount of principal and interest owed. The Bank periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (TDR). All TDRs are classified as impaired and management performs an impairment analysis at the time of restructuring.
Premises and Equipment	Premises and Equipment Land is stated at cost. Property, improvements, and equipment are stated at cost less accumulated depreciation. Depreciation is determined under the straight-line method over the following estimated useful lives of assets: ​ ​ ​ ​ Land improvements 3 - 10 years Office building and improvements ​ 10 - 40 years Furniture and equipment 3 - 10 years
Income Taxes	Income Taxes We record our tax provision or benefit on an interim basis using the estimated annual effective tax rate. This rate is applied to the current period ordinary income or loss to determine the income tax provision or benefit allocated to the interim period. The estimated annual effective tax rate may be significantly affected by nondeductible expenses and certain tax preference items. Adjustments to the estimated annual effective income tax rate are recognized in the period during which such estimates are revised. Deferred taxes are recognized using the asset/liability method. Deferred tax assets are recognized for deductible temporary differences, operating loss and tax credit carryforwards; deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the financial statement amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceed the amount measured as described above, if any, is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet, along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits, if any, are classified as additional income taxes in the statement of operations. Bank management believes that the Bank maintains no uncertain tax positions for tax reporting purposes and accordingly, no liability is required to be recorded. The Bank is subject to U.S. federal income tax as well as income tax of the States of Illinois and Wisconsin.
Other Real Estate Owned	Other Real Estate Owned Property acquired in satisfaction of debt or through foreclosure is carried at the lower of cost or market value less estimated costs to sell. At foreclosure, if the fair value of the property acquired is less than the recorded investment in the related loan, a reduction in the carrying amount of the loan is recognized with a charge to the allowance for loan losses. The cost of carrying the assets subsequent to foreclosure and any decrease in the market value occurring after that date are charged to operating expenses as incurred.
Bank-owned Life Insurance	Bank-owned Life Insurance The Bank purchased life insurance policies on certain key executives. Bank-owned life insurance is recorded at the amount estimated to be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due which are probable at settlement.
Service Charges on Deposits	Service Charges on Deposits Service charges on deposits represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue, or some other individual attribute-based revenue. Revenue is recognized when the Bank’s performance obligation is completed, which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time performance obligations are satisfied.
Accounting Developments	Accounting Developments Accounting for Leases The FASB amended its standard related to the accounting for leases. Under the new standard, lessees will now be required to recognize substantially all leases on the balance sheet as both a right-of-use asset and a liability. The standard has two types of leases for income statement recognition purposes: operating leases and finance leases. Operating leases will result in the recognition of a single lease expense on a straight-line basis over the lease term similar to the treatment for operating leases under existing standards. Finance leases will result in an accelerated expense similar to the accounting for capital leases under existing standards. The determination of lease classification as operating or finance will be done in a manner similar to existing standards. The new standard also contains amended guidance regarding the identification of embedded leases in service contracts and the identification of lease and non-lease components in an arrangement. The new standard is effective for annual periods beginning after December 15, 2021, and any interim periods within annual reporting periods that begin after December 15, 2022. The Bank has reviewed the amendment and determined it will not have a material impact on the Bank’s financial statements. Accounting for Financial Instruments – Credit Losses The FASB issued ASU No. 2016-13, Financial Instruments— Credit Losses (Topic 326) The CECL model utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to-maturity securities, and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. For available for-sale securities where fair value is less than cost, credit-related impairment, if any, will be recognized in an allowance for credit losses and adjusted each period for changes in expected credit risk. This model replaces the multiple existing impairment models, which generally require that a loss be incurred before it is recognized. The CECL model represents a significant change from existing practice and may result in material changes to the Bank’s accounting for financial instruments. The Bank is evaluating the effect ASU 2016-13 will have on its consolidated financial statements and related disclosures. The impact of the ASU will depend upon the final standard (as amended), the state of the economy, and the nature of the Bank’s portfolios at the date of adoption. For the Bank, the new standard is effective January 2023.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Summary of Significant Accounting Policies
Summary of Premises and Equipment	​ ​ ​ ​ Land improvements 3 - 10 years Office building and improvements ​ 10 - 40 years Furniture and equipment 3 - 10 years

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2021
Securities
Schedule of amortized cost and estimated fair value of debt securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed ​ Collateralized ​ ​ ​ ​ ​ U.S. government ​ Municipal ​ residential ​ mortgage ​ Total available-for- September 30, 2021 agency obligations obligations obligations obligations sale ​ (Dollars in thousands) 1 year or less ​ $ — $ 1,231 $ 456 $ 1,071 ​ $ 2,758 1 to 5 years ​ 3,938 ​ 3,777 ​ 31,185 ​ 17,535 ​ 56,435 5 to 10 years ​ 6,507 ​ 2,867 ​ 13,837 ​ 9,984 ​ 33,195 After 10 years ​ — ​ 2,970 ​ — ​ 1,636 ​ 4,606 Fair value ​ 10,445 ​ 10,845 ​ 45,478 ​ 30,226 ​ 96,994 Gross unrealized gains ​ 163 ​ 464 ​ 426 ​ 441 ​ 1,494 Gross unrealized losses ​ (39) ​ (12) ​ (309) ​ (259) ​ (619) Amortized cost ​ $ 10,321 ​ $ 10,393 ​ $ 45,361 ​ $ 30,044 ​ $ 96,119 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed ​ Collateralized ​ ​ ​ ​ ​ U.S. government ​ Municipal ​ residential ​ mortgage ​ Total available-for- December 31, 2020 agency obligations obligations obligations obligations sale ​ (Dollars in thousands) 1 year or less ​ $ 1,000 $ 768 $ 1,443 $ 383 ​ $ 3,594 1 to 5 years ​ 4,862 ​ 3,726 ​ 34,486 ​ 14,452 ​ 57,526 5 to 10 years ​ 1,285 ​ 4,354 ​ 7,165 ​ 5,564 ​ 18,368 After 10 years ​ — ​ 2,132 ​ — ​ — ​ 2,132 Fair value ​ 7,147 ​ 10,980 ​ 43,094 ​ 20,399 ​ 81,620 Gross unrealized gains ​ 154 ​ 518 ​ 884 ​ 534 ​ 2,090 Gross unrealized losses ​ (17) ​ (18) ​ (22) ​ (66) ​ (123) Amortized cost ​ $ 7,010 $ 10,480 $ 42,232 $ 19,931 ​ $ 79,653
Schedule of securities with gross unrealized losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ (Dollars in thousands) ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agency obligations ​ $ 2,383 $ 23 $ 1,154 $ 16 $ 3,537 ​ $ 39 Municipal obligations ​ — ​ — ​ 242 ​ 12 ​ 242 ​ 12 Mortgage-backed residential obligations ​ 19,537 ​ 284 ​ 2,213 ​ 25 ​ 21,750 ​ 309 Collateralized mortgage obligations ​ 18,762 ​ 259 ​ — ​ — ​ 18,762 ​ 259 Total ​ $ 40,682 $ 566 $ 3,609 $ 53 $ 44,291 ​ $ 619 December 31, 2020 ​ ​ ​ ​ ​ ​ U.S. government agency obligations ​ $ 1,284 $ 17 $ — $ — $ 1,284 ​ $ 17 Municipal obligations ​ — ​ — ​ 238 ​ 18 ​ 238 ​ 18 Mortgage-backed residential obligations ​ 5,265 ​ 17 ​ 1,170 ​ 5 ​ 6,435 ​ 22 Collateralized mortgage obligations ​ 8,694 ​ 66 ​ 241 ​ — ​ 8,935 ​ 66 Total ​ $ 15,243 $ 100 $ 1,649 $ 23 $ 16,892 ​ $ 123
Schedule of proceeds from sales of securities available-for-sale, as well as gross gains and losses	The following table provides a summary of the proceeds from sales of securities available-for-sale, as well as gross gains and losses, for the periods presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2021 2020 2021 2020 ​ ​ (Dollars in thousands) Proceeds from sales of securities available-for-sale ​ $ 6,769 ​ $ — ​ $ 6,769 ​ $ 12,112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross realized gains ​ 131 ​ — ​ 131 ​ 114 Gross realized losses ​ — ​ — ​ — ​ (55)

Loans and allowance for loan _2

Loans and allowance for loan losses (Tables)	9 Months Ended
	Sep. 30, 2021
Loans and allowance for loan losses
Summary of loans by major category	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ (Dollars in thousands) First mortgage loans ​ ​ 1-4 family residential ​ $ 87,184 ​ $ 87,197 Multi-family ​ 4,221 ​ 5,737 Commercial ​ 4,453 ​ 5,340 Total first mortgage loans ​ 95,858 ​ 98,274 Consumer loans ​ 324 ​ 385 Total loans ​ 96,182 ​ 98,659 Net deferred loan costs ​ 752 ​ 666 Allowance for loan losses ​ (783) ​ (870) Total loans, net ​ $ 96,151 ​ $ 98,455
Schedule of changes in the allowance for loan losses and the related loan balance information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Three months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 695 ​ $ 52 ​ $ 25 ​ $ 10 ​ $ — ​ $ 792 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 3 ​ — ​ — ​ — ​ — ​ 3 Net recoveries (charge-offs) ​ 3 ​ — ​ — ​ — ​ — ​ 3 (Release of) provision for loan losses ​ 1 ​ (13) ​ — ​ — ​ — ​ (12) Ending balance ​ $ 679 ​ $ 39 ​ $ 25 ​ $ 10 ​ $ 30 ​ $ 783 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Three months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 538 ​ $ 24 ​ $ 13 ​ $ 1 ​ $ 40 ​ $ 616 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 3 ​ — ​ — ​ — ​ — ​ 3 Net recoveries ​ 3 ​ — ​ — ​ — ​ — ​ 3 (Release of) provision for loan losses ​ 18 ​ — ​ (1) ​ — ​ 73 ​ 90 Ending balance ​ $ 559 ​ $ 24 ​ $ 12 ​ $ 1 ​ $ 113 ​ $ 709 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Nine months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 798 ​ $ 29 ​ $ 38 ​ $ 5 ​ $ — ​ $ 870 Charge-offs ​ — ​ — ​ — ​ (99) ​ — ​ (99) Recoveries ​ 7 ​ — ​ — ​ — ​ — ​ 7 Net recoveries (charge-offs) ​ 7 ​ — ​ — ​ (99) ​ — ​ (92) Provision for loan losses ​ (126) ​ 10 ​ (13) ​ 104 ​ 30 ​ 5 Ending balance ​ $ 679 ​ $ 39 ​ $ 25 ​ $ 10 ​ $ 30 ​ $ 783 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ 1-4 family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ residential ​ Multi-family ​ Commercial ​ Consumer ​ Unallocated ​ Total ​ ​ (Dollars in thousands) Nine months ended: ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 361 ​ $ 10 ​ $ 9 ​ $ 8 ​ $ — ​ $ 388 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 11 ​ — ​ — ​ — ​ — ​ 11 Net recoveries ​ 11 ​ — ​ — ​ — ​ — ​ 11 Provision for loan losses ​ 187 ​ 14 ​ 3 ​ (7) ​ 113 ​ 310 Ending balance ​ $ 559 ​ $ 24 ​ $ 12 ​ $ 1 ​ $ 113 ​ $ 709 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collectively evaluated ​ Individually evaluated ​ Total ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ Recorded ​ ​ ​ ​ Recorded ​ ​ Allowance for ​ investment in ​ Allowance for ​ investment in ​ Allowance for ​ investment in ​ ​ loan losses ​ loans ​ loan losses ​ loans ​ loan losses ​ loans ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ 555 ​ $ 85,205 ​ $ 124 ​ $ 1,979 ​ $ 679 ​ $ 87,184 Multi-family ​ 39 ​ ​ 4,221 ​ ​ — ​ ​ — ​ ​ 39 ​ 4,221 Commercial ​ 25 ​ ​ 4,453 ​ ​ — ​ ​ — ​ ​ 25 ​ 4,453 Consumer ​ 10 ​ ​ 324 ​ ​ — ​ ​ — ​ ​ 10 ​ 324 Unallocated ​ 30 ​ ​ — ​ ​ 30 ​ ​ ​ ​ ​ Total ​ $ 659 ​ $ 94,203 ​ $ 124 ​ $ 1,979 ​ $ 783 ​ $ 96,182 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ 648 ​ $ 84,774 ​ $ 150 ​ $ 2,423 ​ $ 798 ​ $ 87,197 Multi-family ​ 29 ​ ​ 5,737 ​ ​ — ​ ​ — ​ ​ 29 ​ 5,737 Commercial ​ 38 ​ ​ 5,340 ​ ​ — ​ ​ — ​ ​ 38 ​ 5,340 Consumer ​ 5 ​ ​ 286 ​ ​ — ​ ​ 99 ​ ​ 5 ​ 385 Total ​ $ 720 ​ $ 96,137 ​ $ 150 ​ $ 2,522 ​ $ 870 ​ $ 98,659
Schedule of loan balances based on risk rating	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass Special Mention Substandard Doubtful Total loans ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ 1-4 family residential ​ $ 86,670 $ 409 $ 105 $ — ​ $ 87,184 Multi-family ​ 4,221 — — — ​ 4,221 Commercial ​ 4,453 — — — ​ 4,453 Consumer ​ 324 — — — ​ 324 Total ​ $ 95,668 $ 409 $ 105 $ — ​ $ 96,182 December 31, 2020 ​ ​ 1-4 family residential ​ $ 86,500 $ 417 $ 280 $ — ​ $ 87,197 Multi-family ​ 5,737 — — — ​ 5,737 Commercial ​ 5,340 — — — ​ 5,340 Consumer ​ 286 99 — — ​ 385 Total ​ $ 97,863 $ 516 $ 280 $ — ​ $ 98,659
Schedule of aging of loan portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater than ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days Past ​ ​ ​ ​ Total Past Due ​ ​ ​ ​ ​ ​ ​ ​ 31-89 Days Past Due ​ Due and ​ ​ ​ ​ and Non- ​ ​ ​ ​ Total Loan ​ ​ and Accruing ​ Accruing ​ Non-Accrual ​ Accrual ​ Current ​ Balance ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ — $ 43 $ 105 $ 148 $ 87,036 ​ $ 87,184 Multi-family ​ — ​ — ​ — ​ — ​ 4,221 ​ 4,221 Commercial ​ — ​ — ​ — ​ — ​ 4,453 ​ 4,453 Consumer ​ — ​ — ​ — ​ — ​ 324 ​ 324 Total ​ $ — $ 43 $ 105 $ 148 $ 96,034 ​ $ 96,182 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ 1-4 family residential ​ $ — $ 75 $ 280 $ 355 $ 86,842 ​ $ 87,197 Multi-family ​ — ​ — ​ — ​ — ​ 5,737 ​ 5,737 Commercial ​ — ​ — ​ — ​ — ​ 5,340 ​ 5,340 Consumer ​ 99 ​ — ​ — ​ 99 ​ 286 ​ 385 Total ​ $ 99 $ 75 $ 280 $ 454 $ 98,205 ​ $ 98,659
Schedule of loans individually evaluated for impairment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded investment Unpaid principal balance Related allowance ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ With no related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 1,135 $ 1,457 ​ $ — Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total ​ $ 1,135 $ 1,457 ​ $ — With a related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 844 $ 854 ​ $ 124 Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total ​ $ 844 $ 854 ​ $ 124 Balance at September 30, 2021 ​ $ 1,979 $ 2,311 ​ $ 124 December 31, 2020 ​ ​ ​ With no related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 1,348 $ 1,676 ​ $ — Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ 99 ​ 99 ​ — Total ​ $ 1,447 $ 1,775 ​ $ — With a related allowance recorded ​ ​ ​ 1-4 family residential ​ $ 1,075 $ 1,120 ​ $ 150 Multi-family ​ — ​ — ​ — Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total ​ $ 1,075 $ 1,120 ​ $ 150 Balance at December 31, 2020 ​ $ 2,522 $ 2,895 ​ $ 150 ​ ​ ​ ​ ​ ​ ​ ​ ​ Average recorded ​ ​ ​ ​ investment ​ Interest income recognized ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 1,141 ​ $ 15 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,141 ​ $ 15 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 850 ​ $ 10 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 850 ​ $ 10 Balance for the three months ended September 30, 2021 ​ $ 1,991 ​ $ 25 September 30, 2020 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 974 ​ $ 13 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 974 ​ $ 13 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 1,092 ​ $ 13 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,092 ​ $ 13 Balance for the three months ended September 30, 2020 ​ $ 2,066 ​ $ 26 ​ ​ ​ ​ ​ ​ ​ ​ ​ Average recorded ​ ​ ​ ​ investment ​ Interest income recognized ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 1,155 ​ $ 52 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,155 ​ $ 52 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 860 ​ $ 29 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 860 ​ $ 29 Balance for the nine months ended September 30, 2021 ​ $ 2,015 ​ $ 81 September 30, 2020 ​ ​ With no related allowance recorded ​ ​ 1-4 family residential ​ $ 988 ​ $ 39 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 988 ​ $ 39 With a related allowance recorded ​ ​ 1-4 family residential ​ $ 1,100 ​ $ 37 Multi-family ​ — ​ — Commercial ​ — ​ — Consumer ​ — ​ — Total ​ $ 1,100 ​ $ 37 Balance for the nine months ended September 30, 2020 ​ $ 2,088 ​ $ 76

Other Real Estate Owned (Tables

Other Real Estate Owned (Tables)	9 Months Ended
	Sep. 30, 2021
Other Real Estate Owned
Schedule of the movement in OREO	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, Nine months ended September 30, ​ ​ ​ 2021 ​ ​ 2020 ​ ​ 2021 ​ ​ 2020 ​ ​ (Dollars in thousands) Transfer of loan to OREO ​ $ 118 ​ $ — ​ $ 187 ​ $ — Sale of OREO ​ 68 ​ — ​ 68 ​ — Gross gain realized on transfer to OREO ​ 9 ​ — ​ 15 ​ — Gross gain realized on sale of OREO ​ — ​ — ​ — ​ —

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2021
Deposits.
Schedule of scheduled maturities of time deposits	​ ​ ​ ​ ​ For the 12 months ended ​ ​ ​ September 30, Amount ​ ​ (Dollars in thousands) 2022 ​ $ 39,392 2023 ​ 14,765 2024 ​ 10,282 2025 ​ 5,695 2026 and beyond ​ 4,263 Total ​ $ 74,397

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Measurements
Schedule of assets that are measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ Fair Value Level 1 Level 2 Level 3 ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ Securities Available-for-sale ​ ​ ​ ​ U.S. government agency obligations ​ $ 10,445 $ — $ 10,445 ​ $ — Municipal obligations ​ 10,845 ​ — ​ 10,845 ​ — Mortgage-backed residential obligations ​ 45,478 ​ — ​ 45,478 ​ — Collateralized mortgage obligations ​ 30,226 ​ — ​ 30,226 ​ — Loans held for sale ​ 972 ​ — ​ 972 ​ — Total ​ $ 97,966 $ — $ 97,966 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ Securities Available-for-sale ​ ​ ​ ​ U.S. government agency obligations ​ $ 7,147 $ — $ 7,147 ​ $ — Municipal obligations ​ 10,980 ​ — ​ 10,980 ​ — Mortgage-backed residential obligations ​ 43,094 ​ — ​ 43,094 ​ — Collateralized mortgage obligations ​ 20,399 ​ — ​ 20,399 ​ — Loans held for sale ​ 1,972 ​ — ​ 1,972 ​ — Total ​ $ 83,592 $ — $ 83,592 ​ $ —
Schedule of assets that are measured at fair value on a nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ Impaired loans ​ $ 721 — — $ 721 OREO ​ ​ 118 — — ​ 118 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Impaired loans ​ $ 925 — — $ 925

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value of Financial Instruments
Schedule of carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ Amount Level 1 Level 2 Level 3 Fair Value ​ ​ (Dollars in thousands) September 30, 2021 ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ Loans, net ​ $ 96,151 ​ $ — ​ $ 98,483 ​ $ — ​ $ 98,483 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing deposits ​ $ 192,808 ​ $ — ​ $ 191,318 ​ $ — ​ $ 191,318 FHLB Advance ​ ​ 5,000 ​ ​ — ​ ​ 5,009 ​ ​ — ​ ​ 5,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ Loans, net ​ $ 98,455 ​ $ — ​ $ 102,034 ​ $ — ​ $ 102,034 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Interest-bearing deposits ​ $ 176,670 ​ $ — ​ $ 177,280 ​ $ — ​ $ 177,280 FHLB Advance ​ ​ 4,000 ​ ​ — ​ ​ 4,012 ​ ​ — ​ ​ 4,012

Capital Ratios (Tables)

Capital Ratios (Tables)	9 Months Ended
	Sep. 30, 2021
Capital Ratios
Summary of Bank's actual capital amounts and ratios	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum Required to be ​ ​ Actual ​ Well-Capitalized (1) ​ ​ Amount Ratio Amount Ratio As of September 30, 2021 ​ (Dollars in thousands) Tier 1 capital (to Average Assets) ​ $ 44,276 18.33 % $ 20,528 >8.5 % As of December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 capital (to Average Assets) ​ $ 44,256 18.41 % $ 21,636 >8 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies
Summary of outstanding commitments to originate loans	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 ​ ​ (Dollars in thousands) Total commitments ​ $ 5,695 ​ $ 5,156

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies
Quoted market price	$ 0
Federal Home Loan Bank, carried cost	$ 550,000	$ 512,000
Loan Terms	90 days
Loan to value percentage	80.00%
Uncertain tax positions	$ 0
Tax liability	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Premises and Equipment (Details)	9 Months Ended
	Sep. 30, 2021
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Office building and improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Office building and improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years

Securities - Amortized cost and

Securities - Amortized cost and estimated fair value of debt securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale, 1 year or less	$ 2,758	$ 3,594
Total available-for-sale, 1 to 5 years	56,435	57,526
Total available-for-sale, 5 to 10 years	33,195	18,368
Total available-for-sale, After 10 years	4,606	2,132
Total available-for-sale, Fair value	96,994	81,620
Total available-for-sale, Gross unrealized gains	1,494	2,090
Total available-for-sale, Gross unrealized losses	(619)	(123)
Total available-for-sale, Amortized cost	96,119	79,653
U.S. government agency obligations
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale, 1 year or less		1,000
Total available-for-sale, 1 to 5 years	3,938	4,862
Total available-for-sale, 5 to 10 years	6,507	1,285
Total available-for-sale, Fair value	10,445	7,147
Total available-for-sale, Gross unrealized gains	163	154
Total available-for-sale, Gross unrealized losses	(39)	(17)
Total available-for-sale, Amortized cost	10,321	7,010
Municipal obligations
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale, 1 year or less	1,231	768
Total available-for-sale, 1 to 5 years	3,777	3,726
Total available-for-sale, 5 to 10 years	2,867	4,354
Total available-for-sale, After 10 years	2,970	2,132
Total available-for-sale, Fair value	10,845	10,980
Total available-for-sale, Gross unrealized gains	464	518
Total available-for-sale, Gross unrealized losses	(12)	(18)
Total available-for-sale, Amortized cost	10,393	10,480
Mortgage-backed residential obligations
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale, 1 year or less	456	1,443
Total available-for-sale, 1 to 5 years	31,185	34,486
Total available-for-sale, 5 to 10 years	13,837	7,165
Total available-for-sale, Fair value	45,478	43,094
Total available-for-sale, Gross unrealized gains	426	884
Total available-for-sale, Gross unrealized losses	(309)	(22)
Total available-for-sale, Amortized cost	45,361	42,232
Collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale, 1 year or less	1,071	383
Total available-for-sale, 1 to 5 years	17,535	14,452
Total available-for-sale, 5 to 10 years	9,984	5,564
Total available-for-sale, After 10 years	1,636
Total available-for-sale, Fair value	30,226	20,399
Total available-for-sale, Gross unrealized gains	441	534
Total available-for-sale, Gross unrealized losses	(259)	(66)
Total available-for-sale, Amortized cost	$ 30,044	$ 19,931

Securities - Information pertai

Securities - Information pertaining to securities with gross unrealized losses2 (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 40,682	$ 15,243
Less than 12 Months, Unrealized Losses	566	100
12 Months or Longer, Fair Value	3,609	1,649
12 Months or Longer, Unrealized Losses	53	23
Total, Fair Value	44,291	16,892
Total, Unrealized Losses	619	123
U.S. government agency obligations
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	2,383	1,284
Less than 12 Months, Unrealized Losses	23	17
12 Months or Longer, Fair Value	1,154
12 Months or Longer, Unrealized Losses	16
Total, Fair Value	3,537	1,284
Total, Unrealized Losses	39	17
Municipal obligations
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
12 Months or Longer, Fair Value	242	238
12 Months or Longer, Unrealized Losses	12	18
Total, Fair Value	242	238
Total, Unrealized Losses	12	18
Mortgage-backed residential obligations
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	19,537	5,265
Less than 12 Months, Unrealized Losses	284	17
12 Months or Longer, Fair Value	2,213	1,170
12 Months or Longer, Unrealized Losses	25	5
Total, Fair Value	21,750	6,435
Total, Unrealized Losses	309	22
Collateralized mortgage obligations
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	18,762	8,694
Less than 12 Months, Unrealized Losses	259	66
12 Months or Longer, Fair Value		241
Total, Fair Value	18,762	8,935
Total, Unrealized Losses	$ 259	$ 66

Securities - Proceeds from sale

Securities - Proceeds from sales of securities available-for-sale (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Securities
Proceeds from sales of securities available-for-sale	$ 6,769	$ 6,769	$ 12,112
Gross realized gains	$ 131	$ 131	114
Gross realized losses			$ (55)

Loans and allowance for loan _3

Loans and allowance for loan losses (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Balance	$ 96,182,000		$ 98,659,000
Net deferred loan costs	752,000		666,000
Allowance for loan losses	(783,000)	$ (792,000)	(870,000)	$ (709,000)	$ (616,000)	$ (388,000)
Loans, net	96,151,000		98,455,000
Custodial escrow balances maintained in connection with the foregoing loan servicing	142,000		268,000
Amount of loans made to directors and officers	687,000		928,000
First mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Balance	95,858,000		98,274,000
First mortgage loans | 1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Balance	87,184,000		87,197,000
Allowance for loan losses	(679,000)	(695,000)	(798,000)	(559,000)	(538,000)	(361,000)
First mortgage loans | Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Balance	4,221,000		5,737,000
Allowance for loan losses	(39,000)	(52,000)	(29,000)	(24,000)	(24,000)	(10,000)
First mortgage loans | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Balance	4,453,000		5,340,000
Allowance for loan losses	(25,000)	(25,000)	(38,000)	(12,000)	(13,000)	(9,000)
First mortgage loans | Others
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	16,900,000		16,000,000
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Balance	324,000		385,000
Allowance for loan losses	$ (10,000)	$ (10,000)	$ (5,000)	$ (1,000)	$ (1,000)	$ (8,000)

Loans and allowance for loan _4

Loans and allowance for loan losses - Changes in the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 792	$ 616	$ 870	$ 388
Charge-offs			(99)
Recoveries	3	3	7	11
Net recoveries (charge-offs)	3	3	(92)	11
Provision for loan losses	(12)	90	5	310
Ending balance	783	709	783	709
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated, Allowance for loan losses	659		659		$ 720
Collectively evaluated, Recorded investment in loans	94,203		94,203		96,137
Individually evaluated, Allowance for loan losses	124		124		150
Individually evaluated, Recorded investment in loans	1,979		1,979		2,522
Total, Allowance for loan losses	783	709	783	709	870
Total, Recorded investment in loans	96,182		96,182		98,659
First mortgage loans
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Total, Recorded investment in loans	95,858		95,858		98,274
First mortgage loans | 1-4 family residential
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	695	538	798	361
Recoveries	3	3	7	11
Net recoveries (charge-offs)	3	3	7	11
Provision for loan losses	1	18	(126)	187
Ending balance	679	559	679	559
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated, Allowance for loan losses	555		555		648
Collectively evaluated, Recorded investment in loans	85,205		85,205		84,774
Individually evaluated, Allowance for loan losses	124		124		150
Individually evaluated, Recorded investment in loans	1,979		1,979		2,423
Total, Allowance for loan losses	679	559	679	559	798
Total, Recorded investment in loans	87,184		87,184		87,197
First mortgage loans | Multi-family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	52	24	29	10
Provision for loan losses	(13)		10	14
Ending balance	39	24	39	24
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated, Allowance for loan losses	39		39		29
Collectively evaluated, Recorded investment in loans	4,221		4,221		5,737
Total, Allowance for loan losses	39	24	39	24	29
Total, Recorded investment in loans	4,221		4,221		5,737
First mortgage loans | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	25	13	38	9
Provision for loan losses		(1)	(13)	3
Ending balance	25	12	25	12
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated, Allowance for loan losses	25		25		38
Collectively evaluated, Recorded investment in loans	4,453		4,453		5,340
Total, Allowance for loan losses	25	12	25	12	38
Total, Recorded investment in loans	4,453		4,453		5,340
Consumer loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10	1	5	8
Charge-offs			(99)
Net recoveries (charge-offs)			(99)
Provision for loan losses			104	(7)
Ending balance	10	1	10	1
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated, Allowance for loan losses	10		10		5
Collectively evaluated, Recorded investment in loans	324		324		286
Individually evaluated, Recorded investment in loans					99
Total, Allowance for loan losses	10	1	10	1	5
Total, Recorded investment in loans	324		324		$ 385
Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		40
Provision for loan losses		73	30	113
Ending balance	30	113	30	113
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated, Allowance for loan losses	30		30
Individually evaluated, Allowance for loan losses	30		30
Total, Allowance for loan losses	$ 30	$ 113	$ 30	$ 113

Loans and allowance for loan _5

Loans and allowance for loan losses - Loan balances based on risk rating (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 96,182	$ 98,659
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	95,668	97,863
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	409	516
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	105	280
First mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total	95,858	98,274
First mortgage loans | 1-4 family residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total	87,184	87,197
First mortgage loans | 1-4 family residential | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	86,670	86,500
First mortgage loans | 1-4 family residential | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total	409	417
First mortgage loans | 1-4 family residential | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total	105	280
First mortgage loans | Multi-family
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,221	5,737
First mortgage loans | Multi-family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,221	5,737
First mortgage loans | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,453	5,340
First mortgage loans | Commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,453	5,340
Consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total	324	385
Consumer loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 324	286
Consumer loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total		$ 99

Loans and allowance for loan _6

Loans and allowance for loan losses - Aging of the Banks loan portfolio (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Non-accrual	$ 105	$ 280
Total Past Due and Non-Accrual	148	454
Total Loan Balance	96,182	98,659
31-89 Days Past Due and Accruing
Financing Receivable, Past Due [Line Items]
Total Loan Balance		99
Greater than 90 Days Past Due and Accruing
Financing Receivable, Past Due [Line Items]
Total Loan Balance	43	75
Current
Financing Receivable, Past Due [Line Items]
Total Loan Balance	96,034	98,205
First mortgage loans
Financing Receivable, Past Due [Line Items]
Total Loan Balance	95,858	98,274
First mortgage loans | 1-4 family residential
Financing Receivable, Past Due [Line Items]
Non-accrual	105	280
Total Past Due and Non-Accrual	148	355
Total Loan Balance	87,184	87,197
First mortgage loans | 1-4 family residential | Greater than 90 Days Past Due and Accruing
Financing Receivable, Past Due [Line Items]
Total Loan Balance	43	75
First mortgage loans | 1-4 family residential | Current
Financing Receivable, Past Due [Line Items]
Total Loan Balance	87,036	86,842
First mortgage loans | Multi-family
Financing Receivable, Past Due [Line Items]
Total Loan Balance	4,221	5,737
First mortgage loans | Multi-family | Current
Financing Receivable, Past Due [Line Items]
Total Loan Balance	4,221	5,737
First mortgage loans | Commercial
Financing Receivable, Past Due [Line Items]
Total Loan Balance	4,453	5,340
First mortgage loans | Commercial | Current
Financing Receivable, Past Due [Line Items]
Total Loan Balance	4,453	5,340
Consumer loans
Financing Receivable, Past Due [Line Items]
Total Past Due and Non-Accrual		99
Total Loan Balance	324	385
Consumer loans | 31-89 Days Past Due and Accruing
Financing Receivable, Past Due [Line Items]
Total Loan Balance		99
Consumer loans | Current
Financing Receivable, Past Due [Line Items]
Total Loan Balance	$ 324	$ 286

Loans and allowance for loan _7

Loans and allowance for loan losses - Loans individually evaluated for impairment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Recorded Investment
With no related allowance recorded, Recorded investment	$ 1,135		$ 1,135		$ 1,447
With a related allowance recorded, Recorded investment	844		844		1,075
Total	1,979		1,979		2,522
Unpaid principal balance
With no related allowance recorded, Unpaid principal balance	1,457		1,457		1,775
With a related allowance recorded, Unpaid principal balance	854		854		1,120
Total	2,311		2,311		2,895
With a related allowance recorded, Related allowance	124		124		150
Average recorded investment
With no related allowance recorded, Average recorded investment	1,141	$ 974	1,155	$ 988
With a related allowance recorded, Average recorded investment	850	1,092	860	1,100
Total	1,991	2,066	2,015	2,088
Interest income recognized
With no related allowance recorded, Interest income recognized	15	13	52	39
With a related allowance recorded, Interest income recognized	10	13	29	37
Total	25	$ 26	81	76
First mortgage loans | 1-4 family residential
Recorded Investment
With no related allowance recorded, Recorded investment	1,135		1,135		1,348
With a related allowance recorded, Recorded investment	844		844		1,075
Unpaid principal balance
With no related allowance recorded, Unpaid principal balance	1,457		1,457		1,676
With a related allowance recorded, Unpaid principal balance	854		854		1,120
With a related allowance recorded, Related allowance	$ 124		124		150
Average recorded investment
With no related allowance recorded, Average recorded investment			1,155	988
With a related allowance recorded, Average recorded investment			860	1,100
Interest income recognized
With no related allowance recorded, Interest income recognized			52	39
With a related allowance recorded, Interest income recognized			$ 29	$ 37
Consumer loans
Recorded Investment
With no related allowance recorded, Recorded investment					99
Unpaid principal balance
With no related allowance recorded, Unpaid principal balance					$ 99

Loans and allowance for loan _8

Loans and allowance for loan losses - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021USD ($)item	Dec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructuring	$ 0	$ 0
Outstanding amount	$ 96,151,000	$ 98,455,000
PPP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans granted for deferral | item	50
Total unpaid balance of loans granted for deferral	$ 9,700,000
Number of loans remain for deferral | item	2
Total unpaid balance of loans remain for deferral	$ 127,000
Outstanding amount	$ 71,000

Other Real Estate Owned (Detail

Other Real Estate Owned (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Other Real Estate Owned
Other real estate owned	$ 118,000	$ 0
Investment of consumer mortgage loans secured by residential real estate properties	$ 60,000	$ 111,000

Other Real Estate Owned - Movem

Other Real Estate Owned - Movement in OREO (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Other Real Estate Owned
Transfer of loan to OREO	$ 118	$ 187
Other Real Estate, Disposals	68	68
Gross gain realized on transfer to OREO	$ 9	$ 15

Deposits - Scheduled maturities

Deposits - Scheduled maturities of time deposits (Details) $ in Thousands	Sep. 30, 2021USD ($)
Maturities of time deposits
2022	$ 39,392
2023	14,765
2024	10,282
2025	5,695
2026 and beyond	4,263
Total	$ 74,397

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Deposit Liability [Line Items]
Total deposits held by directors and officers	$ 205,116	$ 186,404
Directors and Officers
Deposit Liability [Line Items]
Total deposits held by directors and officers	$ 1,600	$ 4,300

Other Borrowings (Details)

Other Borrowings (Details) - USD ($) $ in Thousands	May 21, 2021	Sep. 30, 2021	Sep. 30, 2020
Other Borrowings.
Proceeds from FHLB Advance	$ 5,000	$ 5,000	$ 4,000
Repayment of FHLB Advance	$ 4,000	$ 4,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	$ 96,994	$ 81,620
U.S. government agency obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	10,445	7,147
Municipal obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	10,845	10,980
Mortgage-backed residential obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	45,478	43,094
Collateralized mortgage obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	30,226	20,399
Recurring
Assets, Fair Value Disclosure [Abstract]
Loans held for sale	972	1,972
Total	97,966	83,592
Recurring | U.S. government agency obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	10,445	7,147
Recurring | Municipal obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	10,845	10,980
Recurring | Mortgage-backed residential obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	45,478	43,094
Recurring | Collateralized mortgage obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	30,226	20,399
Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Loans held for sale	0	0
Total	0	0
Recurring | Level 1 | U.S. government agency obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 1 | Municipal obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 1 | Mortgage-backed residential obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 1 | Collateralized mortgage obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Loans held for sale	972	1,972
Total	97,966	83,592
Recurring | Level 2 | U.S. government agency obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	10,445	7,147
Recurring | Level 2 | Municipal obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	10,845	10,980
Recurring | Level 2 | Mortgage-backed residential obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	45,478	43,094
Recurring | Level 2 | Collateralized mortgage obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	30,226	20,399
Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Loans held for sale	0	0
Total	0	0
Recurring | Level 3 | U.S. government agency obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 3 | Municipal obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 3 | Mortgage-backed residential obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	0	0
Recurring | Level 3 | Collateralized mortgage obligations
Assets, Fair Value Disclosure [Abstract]
Securities available for sale	$ 0	$ 0

Fair Value Measurements - Ass_2

Fair Value Measurements - Assets Measured at Fair Value on a Non-recurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 721	$ 925
OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	118
Level 1 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Level 2 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 2 | OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Level 3 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	721	$ 925
Level 3 | OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 118

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Level 1
Financial assets:
Loans, net	$ 0	$ 0
Financial liabilities:
Interest-bearing deposits	0	0
FHLB Advance	0	0
Level 2
Financial assets:
Loans, net	98,483	102,034
Financial liabilities:
Interest-bearing deposits	191,318	177,280
FHLB Advance	5,009	4,012
Level 3
Financial assets:
Loans, net	0	0
Financial liabilities:
Interest-bearing deposits	0	0
FHLB Advance	0	0
Carrying Amount
Financial assets:
Loans, net	96,151	98,455
Financial liabilities:
Interest-bearing deposits	192,808	176,670
FHLB Advance	5,000	4,000
Estimated Fair Value
Financial assets:
Loans, net	98,483	102,034
Financial liabilities:
Interest-bearing deposits	191,318	177,280
FHLB Advance	$ 5,009	$ 4,012

Capital Ratios (Details)

Capital Ratios (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Amount
Tier 1 capital (to Average Assets), Actual	$ 44,276	$ 44,256
Tier 1 capital (to Average Assets), Minimum Required to be Well-Capitalized	$ 20,528	$ 21,636
Ratio
Tier 1 capital (to Average Assets), Actual	18.33	18.41
Tier 1 capital (to Average Assets), Minimum Required to be Well-Capitalized	8.5	8

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Commitments to originate loans
Other Commitments [Line Items]
Other Commitment	$ 5,695	$ 5,156

Subsequent Events (Details)

Subsequent Events (Details)	Sep. 30, 2021
North Shore Trust and Savings
Subsequent Event [Line Items]
Percentage of interest	100.00%