ECB Bancorp (ECBK) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 08, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Registrant Name	ECB Bancorp, Inc.
Entity Central Index Key	0001914605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		9,388,678
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ECBK
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-41456
Entity Tax Identification Number	88-1502079
Entity Address, Address Line One	419 Broadway
Entity Address, City or Town	Everett
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02149
City Area Code	617
Local Phone Number	387-1110
Entity Incorporation, State or Country Code	MD

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 3,430	$ 3,123
Short-term investments	93,957	58,927
Total cash and cash equivalents	97,387	62,050
Interest-bearing time deposits		300
Investments in available-for-sale securities (at fair value)	5,006	5,001
Investments in held-to-maturity securities, at cost (fair values of $65,844 at September 30, 2023 (unaudited) and $69,707 at December 31, 2022)	74,869	77,591
Loans, net of allowance for credit losses of $8,292 as of September 30, 2023 (unaudited) and $7,200 as of December 31, 2022	997,359	885,674
Federal Home Loan Bank stock, at cost	9,571	7,293
Premises and equipment, net	3,729	3,698
Accrued interest receivable	3,390	2,632
Deferred tax asset, net	4,687	4,344
Bank-owned life insurance	14,367	14,067
Other assets	3,397	1,812
Total assets	1,213,762	1,064,462
Deposits:
Noninterest-bearing	84,785	84,903
Interest-bearing	727,746	633,246
Total deposits	812,531	718,149
Federal Home Loan Bank advances	224,000	174,000
Other liabilities	11,719	9,583
Total liabilities	1,048,250	901,732
Shareholders' Equity:
Preferred Stock, par value $0.01; Authorized: 1,000,000 shares; Issued and outstanding: 0 shares; and 0 shares, respectively
Common Stock, par value $0.01; Authorized: 30,000,000 shares; Issued and outstanding: 9,195,989 shares and 9,175,247 shares, respectively	92	92
Additional Paid in Capital	88,807	89,286
Retained earnings	83,066	80,076
Accumulated other comprehensive income	246	249
Unallocated common shares held by the Employee Stock Ownership Plan	(6,699)	(6,973)
Total shareholders' equity	165,512	162,730
Total liabilities and shareholders' equity	$ 1,213,762	$ 1,064,462

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Fair value of investments in held-to-maturity securities	$ 65,844	$ 69,707
Allowance for loan losses	$ 8,292	$ 7,200
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	30,000,000	30,000,000
Common Stock, Shares, Issued	9,195,989	9,175,247
Common Stock, Shares, Outstanding	9,195,989	9,175,247

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest and dividend income:
Interest and fees on loans	$ 12,313	$ 7,150	$ 35,362	$ 18,095
Interest and dividends on securities	723	360	1,950	1,022
Other interest income	1,130	251	2,567	355
Total interest and dividend income	14,166	7,761	39,879	19,472
Interest expense:
Interest on deposits	5,843	1,025	14,815	2,332
Interest on Federal Home Loan Bank advances	2,237	197	6,213	310
Total interest expense	8,080	1,222	21,028	2,642
Net interest and dividend income	6,086	6,539	18,851	16,830
(Benefit) provision for credit losses	(184)	925	696	1,800
Net interest and dividend income after (benefit) provision for credit losses	6,270	5,614	18,155	15,030
Noninterest income:
Customer service fees	123	114	371	326
Income from bank-owned life insurance	175	90	372	731
Net gain on sales of loans	9	16	13	84
Other income	15	8	35	28
Total noninterest income	322	228	791	1,169
Noninterest expense:
Salaries and employee benefits	2,914	2,679	8,623	6,960
Director compensation	139	108	379	325
Occupancy and equipment expense	243	190	695	561
Data processing	275	222	810	624
Computer software and licensing	88	78	216	180
Advertising and promotions	201	236	576	511
Professional fees	304	176	962	560
Federal Deposit Insurance Corporation deposit insurance	206	54	613	163
Charitable contributions	7	3,214	17	3,249
Other expense	434	346	1,125	928
Total noninterest expense	4,811	7,303	14,016	14,061
Income (loss) before income tax expense	1,781	(1,461)	4,930	2,138
Income tax expense (benefit)	440	(426)	1,263	394
Net income (loss)	$ 1,341	$ (1,035)	$ 3,667	$ 1,744
Earnings Per Share [Abstract]
Weighted average shares outstanding, basic	8,486,577	8,445,615	8,485,936	8,445,615
Weighted average shares outstanding, diluted	8,486,577	8,445,615	8,485,936	8,445,615
Basic earnings (loss) per share	$ 0.16	$ (0.12)	$ 0.43	$ 0.21
Diluted earnings (loss) per share	$ 0.16	$ (0.12)	$ 0.43	$ 0.21

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,341	$ (1,035)	$ 3,667	$ 1,744
Other comprehensive (loss) income, net of tax:
Net unrealized holding (loss) gain on securities available-for-sale	(2)	2	(3)	(17)
Other comprehensive (loss) income, net of tax	(2)	2	(3)	(17)
Comprehensive income (loss)	$ 1,339	$ (1,033)	$ 3,664	$ 1,727

Statements of Changes in Shareh

Statements of Changes in Shareholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect Accounting Adjustment	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect Accounting Adjustment	Accumulated Other Comprehensive Loss	Unallocated Common Stock Held by ESOP
Beginning balance at Dec. 31, 2021	$ 77,273				$ 77,356		$ (83)
Net income (loss)	1,744				1,744
Other comprehensive income (loss), net of tax	(17)						(17)
Proceeds of stock offering and issuance of common shares	79,247		$ 82	$ 79,165
Proceeds of stock offering and issuance of common shares, shares			8,181,227
Issuance of common shares donated to the Everett Co-operative Bank Charitable Foundation	$ 2,600		$ 3	2,597
Issuance of common shares donated to the Everett Co-operative Bank Charitable Foundation, shares			260,000
Purchase of common shares by the ESOP			$ 7	7,333				$ (7,340)
Purchase of common shares by the ESOP, Shares	734,020		734,020
ESOP shares committed to be released	$ 215			63				152
Ending balance at Sep. 30, 2022	161,062		$ 92	89,158	79,100		(100)	(7,188)
Ending Balance, shares at Sep. 30, 2022			9,175,247
Beginning balance at Jun. 30, 2022	80,033				80,135		(102)
Net income (loss)	(1,035)				(1,035)
Other comprehensive income (loss), net of tax	2						2
Proceeds of stock offering and issuance of common shares	79,247		$ 82	79,165
Proceeds of stock offering and issuance of common shares, shares			8,181,227
Issuance of common shares donated to the Everett Co-operative Bank Charitable Foundation	$ 2,600		$ 3	2,597
Issuance of common shares donated to the Everett Co-operative Bank Charitable Foundation, shares			260,000
Purchase of common shares by the ESOP			$ 7	7,333				(7,340)
Purchase of common shares by the ESOP, Shares	734,020		734,020
ESOP shares committed to be released	$ 215			63				152
Ending balance at Sep. 30, 2022	161,062		$ 92	89,158	79,100		(100)	(7,188)
Ending Balance, shares at Sep. 30, 2022			9,175,247
Beginning balance at Dec. 31, 2022	$ 162,730	$ (677)	$ 92	89,286	80,076	$ (677)	249	(6,973)
Beginning Balance, shares at Dec. 31, 2022	9,175,247		9,175,247
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Net income (loss)	$ 3,667				3,667
Other comprehensive income (loss), net of tax	(3)						(3)
ESOP shares committed to be released	365			91				274
Repurchase of common stock	(590)		$ 1	589
Repurchase of common stock, Shares			(49,242)
Restricted stock awards issued			$ 1	(1)
Restricted stock awards issued, shares			69,984
Stock-based compensation	20			20
Ending balance at Sep. 30, 2023	$ 165,512		$ 92	88,807	83,066		246	(6,699)
Ending Balance, shares at Sep. 30, 2023	9,195,989		9,195,989
Beginning balance at Jun. 30, 2023	$ 164,629		$ 92	89,355	81,725		248	(6,791)
Beginning Balance, shares at Jun. 30, 2023			9,175,247
Net income (loss)	1,341				1,341
Other comprehensive income (loss), net of tax	(2)						(2)
ESOP shares committed to be released	114			22				92
Repurchase of common stock	(590)		$ 1	589
Repurchase of common stock, Shares			(49,242)
Restricted stock awards issued			$ 1	(1)
Restricted stock awards issued, shares			69,984
Stock-based compensation	20			20
Ending balance at Sep. 30, 2023	$ 165,512		$ 92	$ 88,807	$ 83,066		$ 246	$ (6,699)
Ending Balance, shares at Sep. 30, 2023	9,195,989		9,195,989

Statements of Changes in Shar_2

Statements of Changes in Shareholders' Equity (unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Stock offering costs		$ 2.6		$ 2.6
Purchase of common shares by the ESOP, Shares		734,020		734,020
ESOP shares committed to be released, shares	9,251	15,195	27,451	15,195

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 3,667	$ 1,744
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net	9	153
Provision for credit losses	696	1,800
Change in deferred loan costs/fees	(29)	(169)
Gain on sales of loans, net	(13)	(84)
Proceeds from sales of loans	359	5,824
Loans originated for sale, net	(346)	(4,439)
Depreciation and amortization expense	205	223
Increase in accrued interest receivable	(758)	(556)
Increase in accrued interest payable	548	247
Increase in bank-owned life insurance	(300)	(301)
Gain from life insurance policy death benefit	(72)	(430)
Deferred income tax benefit	(76)	(1,045)
Issuance of common shares donated to the Everett Co-operative Bank Charitable Foundation	0	2,600
ESOP expense	365	215
Stock-based compensation expense	20	0
Increase in other assets	(1,513)	(1,624)
Increase in other liabilities	1,041	582
Net cash provided by operating activities	3,803	4,740
Cash flows from investing activities:
Purchases of held-to-maturity securities	(2,437)	(11,704)
Proceeds from paydowns and maturities of held-to-maturity securities	5,141	7,150
Purchase of interest-bearing time deposits	0	(300)
Proceeds from maturities of interest bearing time deposits	300	0
Purchase of Federal Home Loan Bank Stock	(3,204)	(3,084)
Redemption of Federal Home Loan Bank stock	926	1,819
Loan originations and principal collections, net	(103,487)	(212,760)
Purchase of loans	(9,262)	(7,059)
Recoveries of loans previously charged off	1	1
Capital expenditures	(236)	(177)
Proceeds from life insurance policy death benefit	0	896
Net cash used in investing activities	(112,258)	(225,218)
Cash flows from financing activities:
Net (decrease) increase in demand deposits, NOW and savings accounts	(27,794)	13,468
Net increase in time deposits	122,176	67,527
Proceeds from long-term Federal Home Loan Bank advances	185,000	20,000
Repayments of long-term Federal Home Loan Bank advances	(80,000)	0
Net change in short-term Federal Home Loan Bank advances	(55,000)	21,475
Net proceeds from issuance of common stock	0	79,247
Common stock repurchased	(590)	0
Net cash provided by financing activities	143,792	201,717
Net increase (decrease) in cash and cash equivalents	35,337	(18,761)
Cash and cash equivalents at beginning of year	62,050	52,975
Cash and cash equivalents at end of period	97,387	34,214
Supplemental disclosures:
Interest paid	20,480	2,395
Income taxes paid	1,931	1,595
Noncash activities:
Transfer of bank-owned life insurance to other assets	72	0
Effect of the adoption of ASU 2016-13 - Allowance for credit losses	182	0
Effect of the adoption of ASU 2016-13 - Deferred income taxes	266	0
Effect of the adoption of ASU 2016-13 - Other liabilities	$ 761	$ 0

Conversion

Conversion	9 Months Ended
	Sep. 30, 2023
Conversion Disclosure [Abstract]
Conversion	NOTE 1 - CONVERSION On March 9, 2022, the Board of Directors of Everett Co-operative Bank (the "Bank") adopted a Plan of Conversion under which the Bank would convert from a Massachusetts mutual co-operative bank into a Massachusetts stock co-operative bank and become the wholly owned subsidiary of a newly chartered stock holding company, ECB Bancorp, Inc. (the “Holding Company”). The Plan of Conversion received all of the approvals of various regulatory agencies and the Plan of Conversion was approved by the required vote of more than two-thirds of the Bank’s depositors present and voting at a special meeting of depositors held on May 5, 2022. The Bank’s mutual to stock conversion and the Company’s stock offering were consummated on July 27, 2022. In the offering, the Company sold 8,915,247 shares of common stock at a per share price of $ 10.00 for gross offering proceeds of $ 89.2 million. Additionally, the Company contributed 260,000 shares and $ 600,000 in cash to the Everett Co-operative Bank Charitable Foundation (the “Foundation”). The Bank has established a Liquidation Account in an amount equal to the net worth of the Bank as of the date of the latest consolidated statement of financial condition contained in the final prospectus distributed in connection with the Company's stock offering. The function of the Liquidation Account is to establish a priority on liquidation of the Bank. The Liquidation Account will be maintained by the Bank for the benefit of the eligible account holders who continue to maintain deposit accounts with the Bank following the conversion. Each eligible account holder shall, with respect to each deposit account, hold a related inchoate interest in a portion of the Liquidation Account balance, in relation to each deposit account balance at the eligibility record date, or to such balance as it may be subsequently reduced, as hereinafter provided. The initial Liquidation Account balance shall not be increased, and shall be subject to downward adjustment to the extent of any downward adjustment of any subaccount balance of any eligible account holder in accordance with the regulations of the Division of Banks of the Commonwealth of Massachusetts. In the unlikely event of a complete liquidation of the Bank (and only in such event), following all liquidation payments to creditors (including those to depositors to the extent of their deposit accounts) each eligible account holder shall be entitled to receive a liquidating distribution from the Liquidation Account, in the amount of the then-adjusted subaccount balances for his or her deposit accounts then held, before any liquidating distribution may be made to any holder of the Bank’s capital stock. The Bank may not declare or pay a cash dividend on its outstanding capital stock if the effect thereof would cause its regulatory capital to be reduced below the amount required to maintain the Liquidation Account and under FDIC rules and regulations.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 2 – BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of ECB Bancorp, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The consolidated financial statements of ECB Bancorp, Inc. (referred to herein as "the Company," “we,” “us,” or “our”) include the balances and results of operations of the Company and the Bank, its wholly-owned subsidiary, as well as First Everett Securities Corporation, a wholly-owned subsidiary of the Bank. Intercompany transactions and balances are eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the Company's financial position as of September 30, 2023 and the results of operations and cash flows for the interim periods ended September 30, 2023 and 2022. All interim amounts have not been audited, and the results of operations for the interim periods herein are not necessarily indicative of the results of operations to be expected for the fiscal year. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2022 and accompanying notes thereto included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The Company qualifies as an emerging growth company (“EGC”) under the Jumpstart Our Business Startups Act of 2012 and has elected to defer the adoption of new or revised accounting standards until the nonpublic company effective dates. As such, the Company will adopt standards on the nonpublic company effective dates until such time that we no longer qualify as an EGC. Certain previously reported amounts have been reclassified to conform to the current period’s presentation. RECENT ACCOUNTING STANDARDS ASU 2016-13 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments Effective January 1, 2023 , the Company adopted Accounting Standards Update (ASU) 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments. In addition, this update makes changes to the accounting for credit-related impairment of available for sale debt securities by eliminating other-than-temporary impairment charges. Following the expected loss model, credit-related losses on available for sale debt securities will be reflected as a valuation allowance for credit losses on those securities. The Company adopted Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Accordingly, a cumulative effect transition adjustment amounting to $ 677,000 decreased the opening balance of retained earnings, effective January 1, 2023. Prior periods have not been restated and continue to be presented under the incurred loss model. A summary of the financial statement impact upon adoption of Topic 326 is as follows: Financial Statement Impact of Adoption Balance Transition Balance 12/31/2022 Adjustment 1/1/2023 (In Thousands) Assets: Allowance for credit losses on loans $ 7,200 $ 182 $ 7,382 Deferred tax asset, net 4,344 266 4,610 Liabilities Allowance for credit losses on off balance sheet credit exposures $ 402 $ 761 $ 1,163 Effective January 1, 2023 , the Company adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures . Update No. 2022-02 applies to public entities that have adopted ASC Topic 326. The amendments in this update eliminate the existing accounting guidance for troubled debt restructures ("TDRs") by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors and instead requires that an entity evaluate whether a modification represents a new loan or a continuation of an existing loan. The amendments also enhance disclosure requirements for certain loans refinancing and restructuring by creditors when a borrower is experiencing financial difficulty. ASU 2022-02 also requires additional disclosure of current period gross write-offs by year of origination for financing receivables to be included in the entity's vintage disclosure, as currently required under Topic 326.

Investments in Securities

Investments in Securities	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in Securities	NOTE 3 – INVESTMENTS IN SECURITIES Allowance for Credit Losses - Available for Sale Securities The Company's available for sale securities are carried at fair value. For available for sale securities in an unrealized loss position, management will first evaluate whether there is intent to sell, or if it is more likely than not that the Company will be required to sell a security prior to anticipated recovery of its amortized cost basis. If either of these criteria are met, the Company will record a write-down of the security's amortized cost basis to fair value through income. For those available for sale securities which do not meet the intent or requirement to sell criteria, management will evaluate whether the decline in fair value is a result of credit related matters or other factors. In performing this assessment, Management considers the creditworthiness of the issuer including whether the security is guaranteed by the U.S. Federal Government or other government agency, the extent to which fair value is less than amortized cost, and changes in credit rating during the period, among other factors. If this assessment indicates the existence of credit losses, the security will be written down to fair value, as determined by a discounted cash flow analysis. To the extent the estimated cash flows do not support the amortized cost, the deficiency is considered to be due to credit loss and is recognized in earnings. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense. Losses are charged against the allowance when the uncollectibility of a security is confirmed, or when either of the aforementioned criteria surrounding intent or requirement to sell have been met. Allowance for Credit Losses - Held to Maturity Securities The Company measures expected credit losses on held to maturity securities on a collective basis by major security type. Management classifies the held-to maturity portfolio into the following major security types: U.S. Government Sponsored Enterprises, U.S. Treasury, Agency Mortgage-Backed Securities, and Corporate Bonds. Investments in securities have been classified in the consolidated balance sheets according to management’s intent. The following tables summarize the amortized cost, allowance for credit losses, and fair value of securities and their corresponding amounts of unrealized gains and losses at the dates indicated: Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Held-to-maturity: Cost Gains Losses Losses Value (in thousands) September 30, 2023 Debt securities issued by U.S. government-sponsored enterprises $ 10,220 $ — $ ( 523 ) $ — $ 9,697 Mortgage-backed securities 47,687 1 ( 7,368 ) — 40,320 Corporate bonds 11,585 — ( 1,080 ) — 10,505 U.S. Treasury securities 5,377 — ( 55 ) — 5,322 Total held-to-maturity securities $ 74,869 $ 1 $ ( 9,026 ) $ — $ 65,844 December 31, 2022 Debt securities issued by U.S. government-sponsored enterprises $ 11,213 $ 6 $ ( 578 ) $ — $ 10,641 Mortgage-backed securities 51,864 3 ( 6,181 ) — 45,686 Corporate bonds 11,612 — ( 1,041 ) — 10,571 U.S. Treasury securities 2,902 — ( 93 ) — 2,809 Total held-to-maturity securities $ 77,591 $ 9 $ ( 7,893 ) $ — $ 69,707 Substantially all held to maturity securities held by the Company are guaranteed by the U.S. federal government or other government sponsored agencies and have a long history of no credit losses. As a result, management has determined these securities to have a zero loss expectation and therefore the Company did not record a provision for estimated credit losses on any held to maturity securities during the three and nine months ended September 30, 2023. The Company's investments in corporate bonds are deemed “investment grade” and (a) the Company does not intend to sell these securities before recovery and (b) it is more likely than not that the Company will not be required to sell these securities before recovery. The Company does not expect to suffer a credit loss as of September 30, 2023. Excluded from the table above is accrued interest on held to maturity securities of $ 265,000 a nd $ 267,000 at September 30, 2023 and December 31, 2022, respectively, which is included within accrued interest receivable in the Consolidated Balance Sheets. Addi tionally, the Company did no t record any write-offs of accrued interest income on held to maturity securities for the three and nine months ended September 30, 2023. No securities held by the Company were delinquent on contractual payments at September 30, 2023, nor were any securities placed on non-accrual status for the three and nine months then ended. Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Available-for-sale Cost Gains Losses Losses Value (in thousands) September 30, 2023 Debt securities Corporate bonds $ 5,000 $ 6 $ — $ — $ 5,006 Total available-for-sale securities $ 5,000 $ 6 $ — $ — $ 5,006 December 31, 2022 Debt securities Corporate bonds $ 4,991 $ 10 $ — $ — $ 5,001 Total available-for-sale securities $ 4,991 $ 10 $ — $ — $ 5,001 The Company did not record a provision for estimated credit losses on any available for sale securities for the three and nine months ended September 30, 2023 . Excluded from the table above is accrued interest on available for sale securities of $ 57,000 and $ 49,000 at September 30, 2023 and December 31, 2022 , respectively, which is included within accrued interest receivable in the Consolidated Balance Sheets. Additionally, the Company did no t record any write-offs of accrued interest income on available for sale securities for the three and nine months ended September 30, 2023 . No securities held by the Company were delinquent on contractual payments at September 30, 2023 , no r were any securities placed on non-accrual status for the three and nine months then ended. The actual maturities of certain available for sale or held to maturity securities may differ from the contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. A schedule of the contractual maturities of available for sale and held to maturity securities as of September 30, 2023 is presented below: Available- for-sale Held-to-maturity Fair Amortized Fair Value Cost Value (in thousands) Within 1 year $ 5,006 $ 7,267 $ 7,183 After 1 year through 5 years — 21,672 20,324 After 5 years through 10 years — 3,538 3,068 After 10 years — 42,392 35,269 Total $ 5,006 $ 74,869 $ 65,844 When securities are sold, the adjusted cost of the specific security sold is used to compute the gain or loss on the sale. There were no sales of securities during the three and nine months ended September 30, 2023 and 2022. T he carrying value of securities pledged to secure advances from the Federal Home Loan Bank of Boston (“FHLBB”) was $ 63.3 million and $ 63.0 million as of September 30, 2023 and December 31, 2022, respectively. The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more, and have no allowance for credit losses, are as follows as of September 30, 2023 and December 31, 2022: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) September 30, 2023 Held to Maturity: Debt securities issued by U.S. government-sponsored enterprises $ 2,723 $ ( 23 ) $ 6,974 $ ( 500 ) $ 9,697 $ ( 523 ) Mortgage-backed securities 7,442 ( 275 ) 32,748 ( 7,093 ) 40,190 ( 7,368 ) Corporate bonds - - 10,505 ( 1,080 ) 10,505 ( 1,080 ) U.S. Treasury securities 2,476 ( 1 ) 2,846 ( 54 ) 5,322 ( 55 ) Total temporarily impaired securities $ 12,641 $ ( 299 ) $ 53,073 $ ( 8,727 ) $ 65,714 $ ( 9,026 ) December 31, 2022 Held to Maturity: Debt securities issued by U.S. government-sponsored enterprises $ 2,847 $ ( 40 ) $ 5,046 $ ( 538 ) $ 7,893 $ ( 578 ) Mortgage-backed securities 20,795 ( 1,294 ) 24,710 ( 4,887 ) 45,505 ( 6,181 ) Corporate bonds 10,571 ( 1,041 ) - - 10,571 ( 1,041 ) U.S. Treasury securities 2,809 ( 93 ) - - 2,809 ( 93 ) Total temporarily impaired securities $ 37,022 $ ( 2,468 ) $ 29,756 $ ( 5,425 ) $ 66,778 $ ( 7,893 ) Management evaluates securities for expected credit losses at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. At September 30, 2023 , four debt securities issued by U.S. government-sponsored enterprises, fifty-two mortgage backed securities, seven corporate bonds and two U.S. treasury securities had unrealized losses with aggregate depreciation of 5.1 %, 15.5 %, 9.3 % and 1.0 %, respectively, from the Company’s amortized cost basis. These unrealized losses relate to changes in market interest rates since acquiring the securities. As management has the intent and ability to hold debt securities until maturity or cost recovery, no allowance for credit losses on securities is deemed necessary as of September 30, 2023 .

Loans, Allowance for Credit Los

Loans, Allowance for Credit Losses and Credit Quality	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Loans, Allowance for Credit Losses and Credit Quality	NOTE 4 – LOANS, ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY Loans Loans that the Company has the intent and ability to hold until maturity or payoff are carried at amortized cost (net of the allowance for credit losses). Amortized cost is the principal amount outstanding, adjusted by partial charge-offs and net of deferred loan costs or fees. For originated loans, loan fees and certain direct origination costs are deferred and amortized into interest income over the contractual life of the loan using the level-yield method. When a loan is paid off, the unamortized portion is recognized in interest income. Interest income on loans is accrued based upon the daily principal amount outstanding except for loans on nonaccrual status. As a general rule, loans more than 90 days past due with respect to principal or interest are classified as nonaccrual loans, or sooner if management considers such action to be prudent. However, loans that are more than 90 days past due may be kept on an accruing status if the loan is well secured and in the process of collection. Income accruals are suspended on all nonaccrual loans in a timely manner and all previously accrued and uncollected interest is reversed against current income. A loan can be returned to accrual status when collectibility of principal and interest is reasonably assured and the loan has performed for a period of time, generally six months. When doubt exists as to the collectability of a loan, any payments received are applied to reduce the amortized cost of the loan to the extent necessary to eliminate such doubt. For all loan portfolios, a charge-off occurs when the Company determines that a specific loan, or portion thereof, is uncollectible. This determination is made based on management's review of specific facts and circumstances of the individual loan, including the expected cash flows to repay the loan, the value of the collateral and the ability and willingness of any guarantors to perform. Allowance for Credit Losses - Loans Held for Investment The allowance for credit losses is established based upon the Company's current estimate of expected lifetime credit losses on loans measured at amortized cost. Credit losses are charged against the allowance when management's assessments confirm that the Company will not collect the full amortized cost basis of a loan. Subsequent recoveries, if any, are credited to the allowance. Under the CECL methodology, the Company estimates credit losses for financial assets on a collective basis for loans sharing similar risk characteristics using a quantitative model combined with an assessment of certain qualitative factors designed to address forecast risk and model risk inherent in the quantitative model output. The quantitative model utilizes a loss factor based approach to estimate expected credit losses, which are derived from internal historical and industry loss experience. The model estimates expected credit losses using loan level data over the estimated life of the exposure, considering the effect of prepayments. Economic forecasts are incorporated into the estimate over a reasonable and supportable forecast period, beyond which is a reversion to the historical long-run average. Management has determined a reasonable and supportable period of 12 months, and a reversion period of 12 months, to be appropriate for purposes of estimating expected credit losses. The qualitative risk factors impacting the expected risk of loss within the portfolio include the following: • Lending policies and procedures • Economic and business conditions • Nature and volume of loans • Changes in management • Changes in credit quality • Changes in loan review system • Changes to underlying collateral values • Concentrations of credit risk • Other external factors Loans that do not share similar risk characteristics with any pools of assets are subject to individual assessment and are removed from the collectively assessed pools to avoid double counting. For the loans that will be individually assessed, the Company will use either a discounted cash flow (“DCF”) approach or a fair value of collateral approach. The latter approach will be used for loans deemed to be collateral dependent or when foreclosure is probable. Accrued interest receivable amounts are excluded from balances of loans held at amortized cost and are included within accrued interest receivable in the consolidated balance sheets. Management has elected not to measure an allowance for credit losses on these amounts as the Company employs a timely write-off policy. Consistent with the Company's policy for nonaccrual loans, accrued interest receivable is typically written off when loans reach 90 days past due and are placed on nonaccrual status. In the ordinary course of business, the Company enters into commitments to extend credit. Such financial instruments are recorded in the financial statements when they are funded. The credit risk associated with these commitments is evaluated in a manner similar to the allowance for credit losses. The reserve for unfunded lending commitments is included in other liabilities in the consolidated balance sheets. Loans consisted of the following as of the dates indicated: At September 30, At December 31, 2023 2022 Amount Percent Amount Percent (Dollars in thousands) Real estate loans: One-to-four family residential $ 395,290 39.3 % $ 355,381 39.8 % Multi-family 281,192 28.0 % 241,951 27.1 % Commercial 185,657 18.5 % 156,212 17.5 % Home equity lines of credit and loans 33,407 3.3 % 27,783 3.1 % Construction 101,615 10.1 % 107,317 12.0 % Other loans: Commercial loans 8,471 0.8 % 4,266 0.5 % Consumer 248 0.0 % 222 0.0 % 1,005,880 100.0 % 893,132 100.0 % Less: Net deferred loan fees ( 229 ) ( 258 ) Allowance for credit losses ( 8,292 ) ( 7,200 ) Total loans, net $ 997,359 $ 885,674 Certain directors and executive officers of the Company and companies in which they have a significant ownership interest are also customers of the Bank. Total outstanding loan balances to such persons and their companies amounted to $ 889,000 and $ 943,000 as of September 30, 2023 and December 31, 2022 , respectively. The following table sets forth the activity for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (in thousands) (in thousands) Beginning Balance $ 909 $ 1,223 $ 943 $ 1,257 New Loans — — — — Advances — 75 — 375 Paydowns ( 20 ) ( 325 ) ( 54 ) ( 659 ) Ending Balance $ 889 $ 973 $ 889 $ 973 The carrying value of loans pledged to secure advances from the FHLBB were $ 558.3 million and $ 333.5 million as of September 30, 2023 and December 31, 2022, respectively. The following tables set forth information regarding the allowance for credit losses as of and for the three and nine months ended September 30, 2023: For the three months ended September 30, 2023 (in thousands) Beginning Charge-offs Recoveries Provision (benefit) Ending (1) Real estate loans: One-to-four family residential $ 1,980 $ - $ - $ 40 $ 2,020 Multi-family 2,150 - - 79 2,229 Commercial 2,348 - - ( 154 ) 2,194 Home equity lines of credit and loans 203 - - 4 207 Construction 1,570 - - ( 126 ) 1,444 Other loans: Commercial loans 218 - - ( 21 ) 197 Consumer 1 ( 1 ) 1 - 1 Total $ 8,470 $ ( 1 ) $ 1 $ ( 178 ) $ 8,292 For the nine months ended September 30, 2023 (in thousands) Beginning Cumulative effect accounting adjustment (2) Charge-offs Recoveries Provision Ending (1) Real estate loans: One-to-four family residential $ 1,703 $ 130 $ - $ - $ 187 $ 2,020 Multi-family 1,839 77 - - 313 2,229 Commercial 1,797 145 - - 252 2,194 Home equity lines of credit and loans 194 ( 20 ) - - 33 207 Construction 1,286 136 - - 22 1,444 Other loans: Commercial loans 60 34 - - 103 197 Consumer 1 - ( 1 ) 1 - 1 Unallocated 320 ( 320 ) - - - - Total $ 7,200 $ 182 $ ( 1 ) $ 1 $ 910 $ 8,292 (1) Balances of accrued interest receivable excluded from amortized cost and the calculation of allowance for credit losses amounted to $ 2.9 million as of September 30, 2023. (2) Represents an adjustment needed to reflect the cumulative day one impact pursuant to the Company's adoption of Accounting Standards Update 2016-13. The adjustment for the nine months ended September 30, 2023 represents a $ 182,000 increase to the allowance attributable to the change in accounting methodology for estimating the allowance for credit losses resulting from the Company's adoption of the standard. The following table shows the age analysis of past due loans as of the date indicated: 30–59 Days 60–89 Days 90 Days Total Total Total 90 days (in thousands) As of September 30, 2023 Real estate loans: One-to-four family residential $ 507 $ — $ 274 $ 781 $ 394,509 $ 395,290 $ — Multi-family — — — — 281,192 281,192 — Commercial — — — — 185,657 185,657 — Home equity lines of credit and loans 97 8 16 121 33,286 33,407 — Construction — — — — 101,615 101,615 — Other loans: Commercial — — — — 8,471 8,471 — Consumer — — — — 248 248 — $ 604 $ 8 $ 290 $ 902 $ 1,004,978 $ 1,005,880 $ — The following table shows information regarding nonaccrual loans as of the dates indicated: As of September 30, 2023 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 With Allowance for Credit Losses Without Allowance for Credit Losses Total Interest Income Recognized Interest Income Recognized (in thousands) Real estate loans: One-to-four family residential $ — $ 1,195 $ 1,195 $ 12 $ 26 Multi-family — — — — — Commercial — — — — — Home equity lines of credit and loans — 16 16 — — Construction — — — — — Other loans: Commercial — — — — — Consumer — — — — — Total nonaccrual loans $ — $ 1,211 $ 1,211 $ 12 $ 26 Credit Quality Information The Company utilizes a seven grade internal loan rating system for multi-family and commercial real estate, construction, commercial loans and certain residential and home equity lines of credit as follows: Loans rated 1 – 3: Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 4: Loans in this category are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 5: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Bank will sustain some loss if the weakness is not corrected. Loans rated 6: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Loans rated 7: Loans in this category are considered uncollectible (loss) and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial loans with aggregate potential outstanding balances of $ 500,000 or more, and all commercial real estate loans (including multi-family and construction loans as well as residential and home equity line of credit loans to commercial borrowers) with aggregate potential outstanding balances of $ 1.0 million or more. For loans that are not formally rated, the Company initially assesses credit quality based upon the borrower’s ability to pay and subsequently monitors these loans based on the borrower’s payment activity. The following table details the amortized cost balances of the Company's loan portfolios, presented by credit quality indicator and origination year as of September 30, 2023: Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total 2023 2022 2021 2020 2019 Prior As of September 30, 2023 (in thousands) One-to-four family residential Pass $ 2,956 $ 36,791 $ 15,626 $ 5,206 $ 4,268 $ 9,320 $ — $ — $ 74,167 Special Mention — — — 810 — 457 — — 1,267 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 35,886 89,996 73,559 52,081 7,482 60,852 — — 319,856 Total $ 38,842 $ 126,787 $ 89,185 $ 58,097 $ 11,750 $ 70,629 $ — $ — $ 395,290 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Multi-family Pass $ 40,732 $ 195,365 $ 24,872 $ 8,942 $ — $ 10,031 $ 1,050 $ — $ 280,992 Special Mention 200 — — — — — — — 200 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) — — — — — — — — — Total $ 40,932 $ 195,365 $ 24,872 $ 8,942 $ — $ 10,031 $ 1,050 $ — $ 281,192 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate Pass $ 32,013 $ 72,933 $ 24,286 $ 16,663 $ 4,096 $ 31,970 $ 3,696 $ — $ 185,657 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) — — — — — — — — — Total $ 32,013 $ 72,933 $ 24,286 $ 16,663 $ 4,096 $ 31,970 $ 3,696 $ — $ 185,657 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Home equity lines of credit and loans Pass $ 327 $ — $ — $ — $ — $ — $ 6,252 $ — $ 6,579 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 377 37 12 — 67 41 25,734 560 26,828 Total $ 704 $ 37 $ 12 $ — $ 67 $ 41 $ 31,986 $ 560 $ 33,407 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction Pass $ 20,653 $ 54,145 $ 18,883 $ — $ 2,006 $ 2,988 $ — $ — $ 98,675 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 1,303 1,637 — — — — — — 2,940 Total $ 21,956 $ 55,782 $ 18,883 $ — $ 2,006 $ 2,988 $ — $ — $ 101,615 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial loans Pass $ 3,402 $ 3,454 $ 440 $ 40 $ 87 $ 159 $ 817 $ — $ 8,399 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) — — 72 — — — — — 72 Total $ 3,402 $ 3,454 $ 512 $ 40 $ 87 $ 159 $ 817 $ — $ 8,471 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 38 40 48 — — 74 48 — 248 Total $ 38 $ 40 $ 48 $ — $ — $ 74 $ 48 $ — $ 248 Current-period gross charge-offs (2) $ 1 $ — $ — $ — $ — $ — $ — $ — $ — (1) There was one home equity line of credit loan originated prior to 2019 with an amortized cost of $ 16,000 that is not formally rated and was on non-accrual as of September 30, 2023. All other loans not formally rated were accruing as of September 30, 2023. (2) Gross charge-off disclosures are made starting in the period of adoption and prospectively. At September 30, 2023 , the Company had one consumer mortgage loan secured by residential real estate property in the process of foreclosure with a carrying amount of $ 110,000 . For the three and nine months ended September 30, 2023 , the Company did no t provide loan restructurings involving borrowers that are experiencing financial difficulty. Prior Period Disclosures Pre Adoption of ASC 326 The following tables set forth information regarding the allowance for loan losses for the three and nine months ended September 30, 2022: For the three months ended September 30, 2022 (in thousands) Beginning Charge-offs Recoveries Provision Ending Real estate loans: One-to-four family residential $ 1,469 $ - $ - $ 183 $ 1,652 Multi-family 779 - - 386 1,165 Commercial 1,353 - - 201 1,554 Home equity lines of credit and loans 193 - 1 10 204 Construction 950 - - 131 1,081 Other loans: Commercial loans 46 - - 14 60 Consumer 1 - - - 1 Unallocated 320 - - - 320 Total $ 5,111 $ - $ 1 $ 925 $ 6,037 For the nine months ended September 30, 2022 (in thousands) Beginning Charge-offs Recoveries Provision Ending Real estate loans: One-to-four family residential $ 1,271 $ - $ - $ 381 $ 1,652 Multi-family 417 - - 748 1,165 Commercial 1,099 - - 455 1,554 Home equity lines of credit and loans 185 - 1 18 204 Construction 855 - - 226 1,081 Other loans: Commercial loans 60 - - - 60 Consumer 2 - - ( 1 ) 1 Unallocated 347 - - ( 27 ) 320 Total $ 4,236 $ - $ 1 $ 1,800 $ 6,037 The following table sets forth information regarding the allowance for loan losses and portfolio evaluation method as of December 31, 2022: As of December 31, 2022 (in thousands) Allowance for loans individually Allowance for loans collectively Total allowance for loan losses Loans individually Loans collectively Real estate loans: One-to-four family residential $ - $ 1,703 $ 1,703 $ 656 $ 354,725 Multi-family - 1,839 1,839 - 241,951 Commercial - 1,797 1,797 - 156,212 Home equity lines of credit and loans - 194 194 - 27,783 Construction - 1,286 1,286 - 107,317 Other loans: Commercial loans - 60 60 - 4,266 Consumer - 1 1 - 222 Unallocated - 320 320 - - Total $ - $ 7,200 $ 7,200 $ 656 $ 892,476 The following table shows the age analysis of past due financing receivables as of the date indicated: 30–59 Days 60–89 Days 90 Days Total Total Total 90 days Loans on (in thousands) As of December 31, 2022 Real estate loans: One-to-four family residential $ — $ — $ 189 $ 189 $ 355,192 $ 355,381 $ — $ 656 Multi-family — — — — 241,951 241,951 — — Commercial — — — — 156,212 156,212 — — Home equity lines of credit and loans — — — — 27,783 27,783 — — Construction — — — — 107,317 107,317 — — Other loans: Commercial — — — — 4,266 4,266 — — Consumer — — — — 222 222 — — $ — $ — $ 189 $ 189 $ 892,943 $ 893,132 $ — $ 656 The following table presents the Bank’s loans by credit quality indicator as of December 31, 2022: Real Estate Home Equity Residential Multi-family Commercial Lines of Credit Construction Commercial Consumer Total (In Thousands) As of December 31, 2022 Grade Pass $ 63,817 $ 241,951 $ 156,212 $ 2,995 $ 103,272 $ 4,266 $ — $ 572,513 Special mention 467 — — — — — — 467 Substandard — — — — — — — — Doubtful — — — — — — — — Loans not 291,097 — — 24,788 4,045 — 222 320,152 $ 355,381 $ 241,951 $ 156,212 $ 27,783 $ 107,317 $ 4,266 $ 222 $ 893,132 Information about loans that meet the definition of an impaired loan in Accounting Standards Codification (ASC) 310-10-35 is as follows as of and for the three and nine months ended September 30, 2022: As of September 30, 2022 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) September 30, 2022 With no related allowance recorded: One-to-four family residential $ 699 $ 699 $ — $ 701 $ 29 $ 694 $ 41 Home equity lines of credit and loans — — — — — 33 1 Total impaired loans $ 699 $ 699 $ — $ 701 $ 29 $ 727 $ 42 There were no impaired loans with an allowance recorded as of or during the nine months ended September 30, 2022. Information about loans that meet the definition of an impaired loan in Accounting Standards Codification (ASC) 310-10-35 is as follows as of December 31, 2022: As of December 31, 2022 Recorded Investment Unpaid Principal Balance Related Allowance (in thousands) December 31, 2022 With no related allowance recorded: One-to-four family residential $ 656 $ 656 $ — Total impaired loans $ 656 $ 656 $ — There were no impaired loans with an allowance recorded as of December 31, 2022. There were no consumer mortgage loans secured by residential real estate in the process of foreclosure as of December 31, 2022. During three and nine months ended September 30, 2022 , there were no loans that were modified in a troubled debt restructuring and there were no loans modified as TDR loans that subsequently defaulted within one year of the modification.

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2023
Defined Benefit Plan [Abstract]
Employee Benefits	NOTE 5 – EMPLOYEE BENEFITS Pension Plans Defined Benefit Plan The Company provided pension benefits for its employees through membership in the Defined Benefit Plan of the Co-operative Banks Employees Retirement Association (CBERA) (the Plan). The Plan is a multi-employer plan whereby the contributions by each bank are not restricted to provide benefits to the employees of the contributing bank. Each employee reaching the age of 21 and having completed at least one year of service automatically became eligible to participate in the Plan. Participants became vested after completion of six years of eligible service. At the December 15, 2021 Board of Directors meeting, the Directors voted to freeze benefit accruals and withdraw from the CBERA Plan as of April 30, 2022. The Company recorded a liability as of December 31, 2021 and a related expense, each in the amount of $ 2,001,000 , related to this withdrawal. For the three and nine months ended September 30, 2022 , a benefit of $ 0 and $ 582,000 , respectively, was recorded to reflect a reduction in the liability related to the withdrawal from the defined benefit plan. The reduction was primarily driven by increases in interest rates since December 31, 2021, which caused defined benefit plan discount rates to rise. In May of 2022, the final withdrawal liability was determined to be $ 1,419,000 . The Company paid the final amount and has withdrawn from the Plan in the second quarter of 2022. 401(k) Plan The Company has adopted a savings plan which qualifies under Section 401(k) of the Internal Revenue Code and provides for voluntary contributions by participating employees ranging from 1 % to 75 % of their compensation, subject to certain limitations based on federal tax laws. The Company makes matching contributions equal to 100 % of each employee’s voluntary contributions, up to 7 % of the employee’s compensation, as defined. Total expense related to the 401(k) plan for the three and nine months ended September 30, 2023 amounted to $ 120,000 and $ 351,000 , respectively. Total expense related to the 401(k) plan for the three and nine months ended September 30, 2022 amounted to $ 100,000 and $ 280,000 , respectively. Employee Incentive Plan The Company provides an employee incentive plan which is approved annually by the Board of Directors, based on various factors. The employee incentive plan expense for the three and nine months ended September 30, 2023 amounted to $ 363,000 and $ 1,077,000 , respectively. The employee incentive plan expense for the three and nine months ended September 30, 2022 amounted to $ 355,000 and $ 918,000 , respectively. Supplemental Executive Retirement Plan (SERP) The Company formed a SERP for certain executive officers. The SERP provides nonfunded retirement benefits designed to supplement benefits available through the Bank’s other retirement plans for employees. The liability for the SERP amounted to $ 1,022,000 and $ 1,156,000 as of September 30, 2023 and December 31, 2022, respectively. The benefit for the three and nine months ended September 30, 2023 amounted to $ 19,000 and $ 58,000 , respectively. The expense for the three and nine months ended September 30, 2022 amounted to $ 25,000 and $ 76,000 , respectively. Director Fee Continuation Plan (DFCP) Effective January 1, 2017, the Company established a Director Fee Continuation Plan which provides supplemental retirement benefits for directors. Under the DFCP, individuals who are directors as of the effective date of the DFCP are 100 % vested in their benefits. Individuals who become directors after the effective date shall be fully vested in their accounts after having served on the Board of Directors for twelve years. The expense for the three and nine months ended September 30, 2023 amounted to $ 22,000 and $ 66,000 , respectively. The expense for the three and nine months ended September 30, 2022 amounted to $ 32,000 and $ 96,000 , respectively. Supplemental Executive Retirement Agreement On January 1, 2018, the Company entered into a supplemental executive retirement agreement with a named executive officer whereby the Company is obligated to provide post-retirement salary continuation benefits equal to 60 % of the executive officer’s final average compensation, as defined. Benefits are 100 % vested, commence upon retirement, and are payable based on a ten-year certain and life annuity. The liability for the Plan amounted to $ 3,170,000 and $ 3,081,000 as of September 30, 2023 and December 31, 2022, respectively. The expense recognized for the Plan for the three and nine months ended September 30, 2023 amounted to $ 30,000 and $ 89,000 , respectively. The expense recognized for the Plan for the three and nine months ended September 30, 2022 amounted to $ 187,000 and $ 561,000 , respectively. Executive Deferred Compensation Plans In 2021 and 2023, the Company entered into deferred compensation plans with two named executive officers that allow the Company to make contributions to an account for the executive officers each year, as of January 1, based on the prior year’s performance and the Company's intent that the contribution equal 10 % of the executive officers' salaries and bonuses. The Company may make other contributions to the deferred compensation plans, at its discretion, at other times during the year. The expense recognized under the deferred compensation plans for the three and nine months ended September 30, 2023 amounted to $ 41,000 and $ 63,000 , resp ectively. The expense recognized under the deferred compensation plans for the three and nine months ended September 30, 2022 amounted to $ 5,000 and $ 27,000 , respectively. Deferred Compensation Plan for Directors The Company maintains the Everett Co-operative Bank Deferred Compensation Plan for Directors (the “Director Deferred Compensation Plan”) to allow for certain tax planning opportunities and additional retirement income for directors of the Company. All non-employee directors are eligible to participate in the Director Deferred Compensation Plan. Under the Director Deferred Compensation Plan, directors may elect to defer the receipt of up to 100 % of their director fees. Participants are always 100 % vested in their deferred fees and any interest credited to those deferrals. Earnings are credited to a participant’s deferrals each year and are indexed to the highest certificate of deposit rate offered by the Bank on January 1 st of each year. The liability for the Director Deferred Compensation Plan amounted to $ 658,000 and $ 592,000 as of September 30, 2023 and December 31, 2022, respectively. Employment and Change in Control Agreements During 2022, the Company entered into an employment agreement with the Chief Executive Officer and Change in Control agreements with certain executive officers, which provide severance payments in the event of the executive’s involuntary or constructive termination of employment, including upon a termination following a change in control as defined in the agreements. Survivor Benefit Plan The Company entered into Survivor Benefit Plan Participation Agreements with a group of employees whereby the Company is obligated to provide up to two years of recognized compensation, as defined, to the beneficiary if the participant dies while employed by the Company. There was no expense recorded during the three and nine months ended September 30, 2023. The expense recognized for the three and nine months ended September 30, 2022 was $ 0 and $ 166,000 , respectively. Employee Stock Ownership Plan As part of the Initial Public Offering ("IPO") completed on July 27, 2022, the Bank established a tax-qualified Employee Stock Ownership Plan ("ESOP") to provide eligible employees the opportunity to own Company shares. The ESOP borrowed $ 7.3 million from the Company to purchase 734,020 common shares during the IPO. The loan is payable in annual installments over 20 years at an interest rate of 4.75 %. As the loan is repaid to the Company, shares are released and allocated proportionally to eligible participants on the basis of each participant’s proportional share of compensation relative to the compensation of all participants. The unallocated ESOP shares are pledged as collateral on the loan. The Company accounts for its ESOP in accordance with FASB ASC 718-40, Compensation – Stock Compensation. Under this guidance, unreleased shares are deducted from shareholders’ equity as unearned ESOP shares in the accompanying consolidated balance sheets. The Company recognizes compensation expense equal to the fair value of the ESOP shares during the periods in which they are committed to be released. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the difference will be credited or debited to shareholders' equity. As the loan is internally leveraged, the loan receivable from the ESOP to the Company is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated balance sheets. Total compensation expense recognized in connection with the ESOP was $ 114,000 and $ 365,000 for the three and nine months ended September 30, 2023 , respectively. The expense recognized was $ 215,000 for both the three and nine months ended September 30, 2022 . The following table presents share information held by the ESOP: As of September 30, 2023 As of December 31, 2022 (Dollars in thousands) Allocated shares 36,701 36,701 Shares committed to be released 27,451 - Unallocated shares 669,868 697,319 Total shares 734,020 734,020 Fair value of unallocated shares $ 7,353 $ 11,192

Stock-based compensation

Stock-based compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	NOTE 6 - STOCK-BASED COMPENSATION On September 7, 2023, the Company adopted the ECB Bancorp, Inc. 2023 Equity Incentive Plan ("2023 Equity Plan”). The 2023 Equity Plan provides 1,248,133 shares of common stock for equity based compensation awards including restricted stock awards, restricted stock units, stock options, and incentive stock options. As of September 30, 2023 , there were 1,003,189 shares available for future grants. Stock-Based Compensation - Stock Options On September 8, 2023, the Company granted 174,960 stock options to non-employee directors. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model. The following table sets forth information regarding the grant: Date of grant 9/8/2023 Options granted 174,960 Vesting period (years) 5 Expiration date 9/8/2033 Expected volatility (1) 30.17 % Expected term (years) (2) 6.50 Expected dividend yield (3) 0.00 % Risk free rate of return (4) 4.31 % Fair value per option $ 4.74 (1) Expected volatility is based on the standard deviation of the historical volatility of the daily adjusted closing price of a group of peers' shares. (2) Expected term represents the period of time that the option is expected to be outstanding. The Company determined that expected life using the "Simplified Method." (3) Expected dividend yield is determined based on management's expectations regarding issuing dividends in the foreseeable future. (4) The risk-free rate of return is based on the U.S. Treasury yield curve in effect at the time of grant for a period equivalent to the expected term of the option. The following tables represent stock option activities for the periods indicated: Three months ended September 30, 2023 Outstanding and exercisable Non-vested Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Balance at beginning of period - $ - - $ - - $ - - $ - Granted - - - - 174,960 11.80 9.95 - Exercised - - - - - - - - Vested - - - - - - - - Forfeited or expired - - - - - - - - Balance at end of period - $ - - $ - 174,960 $ 11.80 9.95 $ - Nine months ended September 30, 2023 Outstanding and exercisable Non-vested Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Balance at beginning of period - $ - - $ - - $ - - $ - Granted - - - - 174,960 11.80 9.95 - Exercised - - - - - - - - Vested - - - - - - - - Forfeited or expired - - - - - - - - Balance at end of period - $ - - $ - 174,960 $ 11.80 9.95 $ - Stock-Based Compensation - Restricted Stock Awards The restricted stock awards are measured based on grant-date fair value, which reflects the closing price of our stock on the date of grant. Restricted stock awards vest over five years in equal portions beginning on the first anniversary date of the restricted stock award. On September 8, 2023, the Company granted 69,984 restricted stock awards to non-employee directors with a five-year vesting period. The following table represents information regarding non-vested restricted stock award activities for the periods indicated: Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 Number of Shares Weighted-Average Grant Date Fair Value Per Share Number of Shares Weighted-Average Grant Date Fair Value Per Share Balance at beginning of period - $ - - $ - Granted 69,984 11.80 69,984 11.80 Vested - - - - Forfeited - - - - Balance at end of period 69,984 $ 11.80 69,984 $ 11.80 The following table represents the compensation expense and income tax benefit recognized for stock options and restricted stock awards for the periods indicated: Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 (in thousands) Stock-based compensation expense Stock options $ 10 $ 10 Restricted stock awards 10 10 Total stock-based compensation expense $ 20 $ 20 Related tax benefits recognized in earnings $ 6 $ 6 There was no stock-based compensation expense or related income tax benefit recognized for the three and nine months ended September 30, 2022. The following table sets forth the total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized as of September 30, 2023: Amount Weighted average period (in thousands) Stock options $ 819 4.95 Restricted stock awards 816 4.95 Total $ 1,635 There was no unrecognized stock-based compensation expense as of December 31, 2022 .

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 7 - FAIR VALUE MEASUREMENTS ASC 820-10, Fair Value Measurement – Overall, provides a framework for measuring fair value under U.S. GAAP. This guidance also allows an entity the irrevocable option to elect fair value for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. In accordance with ASC 820-10, the Company groups its financial assets and financial liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 – Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities. Level 3 – Valuations for assets and liabilities that are derived from other methodologies, including option pricing models, discounted cash flow models and similar techniques, and are not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets and liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets and financial liabilities carried at fair value for September 30, 2023 and December 31, 2022. The Company’s investment in debt instruments available for sale is generally classified within Level 2 of the fair value hierarchy. For those securities, the Bank obtains fair value measurements from independent pricing services. The fair value measurements consider observable data that considers standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. The Company’s individually assessed collateral dependent loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using appraisals obtained from a third party, and are adjusted for selling costs. These appraised values may be discounted based on management’s historical knowledge, expertise, or changes in the market conditions from time of valuation. For Level 3 inputs, fair values are based upon management’s estimates of the value of the underlying collateral or the present value of the expected cash flows. As of September 30, 2023 and December 31, 2022, the following summarizes assets measured at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Total Quoted Prices Significant Significant in Active Other Unobservable Markets for Observable Inputs Identical Assets Inputs Level 3 Level 1 Level 2 (in thousands) September 30, 2023 Corporate bonds $ 5,006 $ — $ 5,006 $ — $ — Total available for-sale-securities $ 5,006 $ — $ 5,006 $ — December 31, 2022 Corporate bonds $ 5,001 $ — $ 5,001 $ — Total available for-sale-securities $ 5,001 $ — $ 5,001 $ — Under certain circumstances, the Company makes adjustments to its assets and liabilities although they are not measured at fair value on an ongoing basis. As of September 30, 2023 and December 31, 2022, the Bank had no assets or liabilities for which a nonrecurring change in fair value had been recorded. ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. ASU 2016-01 requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. The exit price notion is a market-based measurement of fair value that is represented by the price to sell an asset or transfer a liability in the principal market (or most advantageous market in the absence of a principal market) on the measure ment date. For September 30, 2023 and December 31, 2022, fair values of loans are estimated on an exit price basis incorporating discounts for credit, liquidity and marketability factors. September 30, 2023 Carrying Fair Amount Value Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 97,387 $ 97,387 $ 97,387 $ - $ - Held-to-maturity securities 74,869 65,844 - 65,844 - Federal Home Loan Bank stock 9,571 9,571 - 9,571 - Loans, net 997,359 915,147 - - 915,147 Accrued interest receivable 3,390 3,390 3,390 - - Bank-owned life insurance 14,367 14,367 - 14,367 - Financial liabilities: Deposits, other than certificates of deposit $ 370,508 $ 370,508 $ - $ 370,508 $ - Certificates of deposit 442,023 434,310 - 434,310 - Federal Home Loan Bank advances 224,000 217,282 - 217,282 - Accrued interest payable 1,284 1,284 1,284 - - December 31, 2022 Carrying Fair Amount Value Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 62,050 $ 62,050 $ 62,050 $ - $ - Interest bearing time deposits 300 300 - 300 - Held-to-maturity securities 77,591 69,707 - 69,707 - Federal Home Loan Bank stock 7,293 7,293 - 7,293 - Loans, net 885,674 841,271 - - 841,271 Accrued interest receivable 2,632 2,632 2,632 - - Bank-owned life insurance 14,067 14,067 - 14,067 - Financial liabilities: Deposits, other than certificates of deposit $ 398,302 $ 398,302 $ - $ 398,302 $ - Certificates of deposit 319,847 310,943 - 310,943 - Federal Home Loan Bank advances 174,000 172,427 - 172,427 - Accrued interest payable 736 736 736 - -

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8 – COMMITMENTS AND CONTINGENCIES The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held varies but usually includes income producing commercial properties or residential real estate. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance by a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. As of September 30, 2023 and December 31, 2022 , the maximum potential amount of the Company’s obligation was $ 0 and $ 13,000 , respectively, for standby letters of credit. The Company’s outstanding letters of credit generally have a term of less than one year . If a letter of credit is drawn upon, the Company may seek recourse through the customer’s underlying line of credit. If the customer’s line of credit is also in default, the Company may take possession of the collateral, if any, securing the line of credit. Amounts of financial instruments whose contract amounts represent off-balance sheet credit risk are as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 (in thousands) Commitments to originate loans $ 32,696 $ 37,220 Commitments to purchase loans 3,035 6,653 Unadvanced funds on lines of credit 79,871 80,224 Unadvanced funds on construction loans 56,275 72,431 Letters of credit - 13 $ 171,877 $ 196,541 The Bank accrues for credit losses related to off-balance sheet financial instruments. Potential losses on off-balance sheet loan commitments are estimated using the same risk factors used to determine the allowance for credit losses, adjusted for the likelihood that funding will occur. The allowance for off-balance sheet commitments is recorded within other liabilities on the consolidated balance sheets and amounted to $ 949,000 and $ 402,000 as of September 30, 2023 and December 31, 2022, respectively. For the three and nine months ended September 30, 2023 , a benefit of $ 6,000 and $ 214,000 , respectively, was recorded to reflect a reduction in allowance for off-balance sheet commitments. Provision recorded for off-balance sheet commitments was $ 61,000 and $ 120,000 for the three and nine months ended September 30, 2022 , respectively.

Other Comprehensive (Loss) Inco

Other Comprehensive (Loss) Income	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Other Comprehensive (Loss) Income	NOTE 9 – OTHER COMPREHENSIVE (LOSS) INCOME Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the shareholders' equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income. The com ponents of other comprehensive (loss) income and related tax effects are as follows for the three and nine months ended September 30, 2023 and 2022: Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 (in thousands) (in thousands) Unrealized (losses) gains on securities: Net unrealized holding (losses) gains on available-for-sale securities $ ( 2 ) $ 3 $ ( 4 ) $ ( 24 ) Reclassification adjustment for realized gains in net income — — — — ( 2 ) 3 ( 4 ) ( 24 ) Income tax (expense) benefit — ( 1 ) 1 7 Net-of-tax amount ( 2 ) 2 ( 3 ) ( 17 ) Other comprehensive (loss) income, net of tax $ ( 2 ) $ 2 $ ( 3 ) $ ( 17 ) Accumulated other comprehensive income as of September 30, 2023 and December 31, 2022 consists of unrecognized benefit costs, net of taxes, and unrealized holding gains on securities available for sale, net of tax, as follows: As of September 30, 2023 As of December 31, 2022 (in thousands) Net unrealized holding gains on securities available-for-sale, net of tax $ 6 $ 9 Unrecognized SERP costs, net of tax 149 149 Unrecognized director fee continuation plan costs, net of tax 91 91 Accumulated other comprehensive income $ 246 $ 249

Regulatory Matters

Regulatory Matters	9 Months Ended
	Sep. 30, 2023
Regulated Operations [Abstract]
Regulatory Matters	NOTE 10 – REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weighting and other factors. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Management believes, as of September 30, 2023, that the Bank meets all capital adequacy requirements to which it is subject. As of September 30, 2023, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based, Common Equity Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios are presented in the table as of the dates indicated: Minimum For Capital Minimum To Be Well Adequacy Purposes Capitalized Under Plus Capital Prompt Corrective Actual Conservation Buffer Action Provisions Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of September 30, 2023 Total Capital (to Risk Weighted Assets) $ 142,830 16.40 % $ 91,443 10.50 % $ 87,089 10.00 % Tier 1 Capital (to Risk Weighted Assets) 133,589 15.34 % 74,026 8.50 % 69,671 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) 133,589 15.34 % 60,962 7.00 % 56,608 6.50 % Tier 1 Capital (to Average Assets) 133,589 11.14 % 47,955 4.00 % 59,943 5.00 % As of December 31, 2022 Total Capital (to Risk Weighted Assets) $ 138,023 16.40 % $ 88,386 10.50 % $ 84,177 10.00 % Tier 1 Capital (to Risk Weighted Assets) 130,421 15.49 % 71,550 8.50 % 67,342 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) 130,421 15.49 % 58,924 7.00 % 54,715 6.50 % Tier 1 Capital (to Average Assets) 130,421 13.89 % 37,562 4.00 % 46,953 5.00 %

Earnings per Share ("EPS")

Earnings per Share ("EPS")	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings per Share ("EPS")	NOTE 11 - EARNINGS PER SHARE ("EPS") Basic earnings per share is calculated by dividing the income available to common shares by the weighted-average number of common shares outstanding during the period. Diluted earnings per share have been calculated in a manner similar to that of basic earnings per share except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common shares (such as those resulting from the exercise of stock options) were issued during the period, computed using the treasury stock method. There were no securities that had a dilutive effect during the three and nine months ended September 30, 2023 or the three and nine months ended September 30, 2022. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 (in thousands, except per share data) Net income (loss) allocated to common stock $ 1,341 $ ( 1,035 ) $ 3,667 $ 1,744 Weighted-average common shares outstanding used to calculate basic earnings (loss) per common share 8,486,577 8,445,615 8,485,936 8,445,615 Add: Dilutive effect of stock options and restricted stock awards - - - - Weighted-average common shares outstanding used to calculate diluted earnings (loss) per common share 8,486,577 8,445,615 8,485,936 8,445,615 Earnings (loss) per common share Basic $ 0.16 $ ( 0.12 ) $ 0.43 $ 0.21 Diluted $ 0.16 $ ( 0.12 ) $ 0.43 $ 0.21 For the three and nine months ended September 30, 2023, the shares that were anti-dilutive, and therefore excluded from the calculation of diluted earnings per share, included options to purchase 174,960 shares of common stock and 69,984 shares of restricted stock awards. For the three and nine months ended September 30, 2022, there were no anti-dilutive shares.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 12 - SUBSEQUENT EVENTS On October 31, 2023, the Company granted a total of 235,973 restricted stock awards to certain employees pursuant to its 2023 Equity Incentive Plan. The fair value of the stock granted was approximately $ 2.4 million. On October 31, 2023, the Company granted a total of 589,009 stock options to certain employees pursuant to its 2023 Equity Incentive Plan. These options were granted with an exercise price of $ 10.12 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Standards	RECENT ACCOUNTING STANDARDS ASU 2016-13 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments Effective January 1, 2023 , the Company adopted Accounting Standards Update (ASU) 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments. In addition, this update makes changes to the accounting for credit-related impairment of available for sale debt securities by eliminating other-than-temporary impairment charges. Following the expected loss model, credit-related losses on available for sale debt securities will be reflected as a valuation allowance for credit losses on those securities. The Company adopted Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Accordingly, a cumulative effect transition adjustment amounting to $ 677,000 decreased the opening balance of retained earnings, effective January 1, 2023. Prior periods have not been restated and continue to be presented under the incurred loss model. A summary of the financial statement impact upon adoption of Topic 326 is as follows: Financial Statement Impact of Adoption Balance Transition Balance 12/31/2022 Adjustment 1/1/2023 (In Thousands) Assets: Allowance for credit losses on loans $ 7,200 $ 182 $ 7,382 Deferred tax asset, net 4,344 266 4,610 Liabilities Allowance for credit losses on off balance sheet credit exposures $ 402 $ 761 $ 1,163 Effective January 1, 2023 , the Company adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures . Update No. 2022-02 applies to public entities that have adopted ASC Topic 326. The amendments in this update eliminate the existing accounting guidance for troubled debt restructures ("TDRs") by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors and instead requires that an entity evaluate whether a modification represents a new loan or a continuation of an existing loan. The amendments also enhance disclosure requirements for certain loans refinancing and restructuring by creditors when a borrower is experiencing financial difficulty. ASU 2022-02 also requires additional disclosure of current period gross write-offs by year of origination for financing receivables to be included in the entity's vintage disclosure, as currently required under Topic 326.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financial Statement Impact Upon Adoption of Topic 326	A summary of the financial statement impact upon adoption of Topic 326 is as follows: Financial Statement Impact of Adoption Balance Transition Balance 12/31/2022 Adjustment 1/1/2023 (In Thousands) Assets: Allowance for credit losses on loans $ 7,200 $ 182 $ 7,382 Deferred tax asset, net 4,344 266 4,610 Liabilities Allowance for credit losses on off balance sheet credit exposures $ 402 $ 761 $ 1,163

Investments in Securities (Tabl

Investments in Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Held-to-Maturity Securities	Investments in securities have been classified in the consolidated balance sheets according to management’s intent. The following tables summarize the amortized cost, allowance for credit losses, and fair value of securities and their corresponding amounts of unrealized gains and losses at the dates indicated: Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Held-to-maturity: Cost Gains Losses Losses Value (in thousands) September 30, 2023 Debt securities issued by U.S. government-sponsored enterprises $ 10,220 $ — $ ( 523 ) $ — $ 9,697 Mortgage-backed securities 47,687 1 ( 7,368 ) — 40,320 Corporate bonds 11,585 — ( 1,080 ) — 10,505 U.S. Treasury securities 5,377 — ( 55 ) — 5,322 Total held-to-maturity securities $ 74,869 $ 1 $ ( 9,026 ) $ — $ 65,844 December 31, 2022 Debt securities issued by U.S. government-sponsored enterprises $ 11,213 $ 6 $ ( 578 ) $ — $ 10,641 Mortgage-backed securities 51,864 3 ( 6,181 ) — 45,686 Corporate bonds 11,612 — ( 1,041 ) — 10,571 U.S. Treasury securities 2,902 — ( 93 ) — 2,809 Total held-to-maturity securities $ 77,591 $ 9 $ ( 7,893 ) $ — $ 69,707
Schedule of Available-for-Sale Securities	Gross Gross Allowance Amortized Unrealized Unrealized for Credit Fair Available-for-sale Cost Gains Losses Losses Value (in thousands) September 30, 2023 Debt securities Corporate bonds $ 5,000 $ 6 $ — $ — $ 5,006 Total available-for-sale securities $ 5,000 $ 6 $ — $ — $ 5,006 December 31, 2022 Debt securities Corporate bonds $ 4,991 $ 10 $ — $ — $ 5,001 Total available-for-sale securities $ 4,991 $ 10 $ — $ — $ 5,001
Schedule of the Contractual Maturities of Available for Sale and Held-to-Maturity Securities	A schedule of the contractual maturities of available for sale and held to maturity securities as of September 30, 2023 is presented below: Available- for-sale Held-to-maturity Fair Amortized Fair Value Cost Value (in thousands) Within 1 year $ 5,006 $ 7,267 $ 7,183 After 1 year through 5 years — 21,672 20,324 After 5 years through 10 years — 3,538 3,068 After 10 years — 42,392 35,269 Total $ 5,006 $ 74,869 $ 65,844
Aggregate Fair Value and Unrealized Losses of Securities in a Continuous Unrealized Loss Position	The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more, and have no allowance for credit losses, are as follows as of September 30, 2023 and December 31, 2022: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) September 30, 2023 Held to Maturity: Debt securities issued by U.S. government-sponsored enterprises $ 2,723 $ ( 23 ) $ 6,974 $ ( 500 ) $ 9,697 $ ( 523 ) Mortgage-backed securities 7,442 ( 275 ) 32,748 ( 7,093 ) 40,190 ( 7,368 ) Corporate bonds - - 10,505 ( 1,080 ) 10,505 ( 1,080 ) U.S. Treasury securities 2,476 ( 1 ) 2,846 ( 54 ) 5,322 ( 55 ) Total temporarily impaired securities $ 12,641 $ ( 299 ) $ 53,073 $ ( 8,727 ) $ 65,714 $ ( 9,026 ) December 31, 2022 Held to Maturity: Debt securities issued by U.S. government-sponsored enterprises $ 2,847 $ ( 40 ) $ 5,046 $ ( 538 ) $ 7,893 $ ( 578 ) Mortgage-backed securities 20,795 ( 1,294 ) 24,710 ( 4,887 ) 45,505 ( 6,181 ) Corporate bonds 10,571 ( 1,041 ) - - 10,571 ( 1,041 ) U.S. Treasury securities 2,809 ( 93 ) - - 2,809 ( 93 ) Total temporarily impaired securities $ 37,022 $ ( 2,468 ) $ 29,756 $ ( 5,425 ) $ 66,778 $ ( 7,893 )

Loans, Allowance for Credit L_2

Loans, Allowance for Credit Losses and Credit Quality (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Schedule of Loans	Loans consisted of the following as of the dates indicated: At September 30, At December 31, 2023 2022 Amount Percent Amount Percent (Dollars in thousands) Real estate loans: One-to-four family residential $ 395,290 39.3 % $ 355,381 39.8 % Multi-family 281,192 28.0 % 241,951 27.1 % Commercial 185,657 18.5 % 156,212 17.5 % Home equity lines of credit and loans 33,407 3.3 % 27,783 3.1 % Construction 101,615 10.1 % 107,317 12.0 % Other loans: Commercial loans 8,471 0.8 % 4,266 0.5 % Consumer 248 0.0 % 222 0.0 % 1,005,880 100.0 % 893,132 100.0 % Less: Net deferred loan fees ( 229 ) ( 258 ) Allowance for credit losses ( 8,292 ) ( 7,200 ) Total loans, net $ 997,359 $ 885,674
Summary of Activity for Loans	The following table sets forth the activity for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (in thousands) (in thousands) Beginning Balance $ 909 $ 1,223 $ 943 $ 1,257 New Loans — — — — Advances — 75 — 375 Paydowns ( 20 ) ( 325 ) ( 54 ) ( 659 ) Ending Balance $ 889 $ 973 $ 889 $ 973
Schedule of Information Regarding Allowance for Loan Losses	The following tables set forth information regarding the allowance for credit losses as of and for the three and nine months ended September 30, 2023: For the three months ended September 30, 2023 (in thousands) Beginning Charge-offs Recoveries Provision (benefit) Ending (1) Real estate loans: One-to-four family residential $ 1,980 $ - $ - $ 40 $ 2,020 Multi-family 2,150 - - 79 2,229 Commercial 2,348 - - ( 154 ) 2,194 Home equity lines of credit and loans 203 - - 4 207 Construction 1,570 - - ( 126 ) 1,444 Other loans: Commercial loans 218 - - ( 21 ) 197 Consumer 1 ( 1 ) 1 - 1 Total $ 8,470 $ ( 1 ) $ 1 $ ( 178 ) $ 8,292 For the nine months ended September 30, 2023 (in thousands) Beginning Cumulative effect accounting adjustment (2) Charge-offs Recoveries Provision Ending (1) Real estate loans: One-to-four family residential $ 1,703 $ 130 $ - $ - $ 187 $ 2,020 Multi-family 1,839 77 - - 313 2,229 Commercial 1,797 145 - - 252 2,194 Home equity lines of credit and loans 194 ( 20 ) - - 33 207 Construction 1,286 136 - - 22 1,444 Other loans: Commercial loans 60 34 - - 103 197 Consumer 1 - ( 1 ) 1 - 1 Unallocated 320 ( 320 ) - - - - Total $ 7,200 $ 182 $ ( 1 ) $ 1 $ 910 $ 8,292 (1) Balances of accrued interest receivable excluded from amortized cost and the calculation of allowance for credit losses amounted to $ 2.9 million as of September 30, 2023. (2) Represents an adjustment needed to reflect the cumulative day one impact pursuant to the Company's adoption of Accounting Standards Update 2016-13. The adjustment for the nine months ended September 30, 2023 represents a $ 182,000 increase to the allowance attributable to the change in accounting methodology for estimating the allowance for credit losses resulting from the Company's adoption of the standard. The following tables set forth information regarding the allowance for loan losses for the three and nine months ended September 30, 2022: For the three months ended September 30, 2022 (in thousands) Beginning Charge-offs Recoveries Provision Ending Real estate loans: One-to-four family residential $ 1,469 $ - $ - $ 183 $ 1,652 Multi-family 779 - - 386 1,165 Commercial 1,353 - - 201 1,554 Home equity lines of credit and loans 193 - 1 10 204 Construction 950 - - 131 1,081 Other loans: Commercial loans 46 - - 14 60 Consumer 1 - - - 1 Unallocated 320 - - - 320 Total $ 5,111 $ - $ 1 $ 925 $ 6,037 For the nine months ended September 30, 2022 (in thousands) Beginning Charge-offs Recoveries Provision Ending Real estate loans: One-to-four family residential $ 1,271 $ - $ - $ 381 $ 1,652 Multi-family 417 - - 748 1,165 Commercial 1,099 - - 455 1,554 Home equity lines of credit and loans 185 - 1 18 204 Construction 855 - - 226 1,081 Other loans: Commercial loans 60 - - - 60 Consumer 2 - - ( 1 ) 1 Unallocated 347 - - ( 27 ) 320 Total $ 4,236 $ - $ 1 $ 1,800 $ 6,037 The following table sets forth information regarding the allowance for loan losses and portfolio evaluation method as of December 31, 2022: As of December 31, 2022 (in thousands) Allowance for loans individually Allowance for loans collectively Total allowance for loan losses Loans individually Loans collectively Real estate loans: One-to-four family residential $ - $ 1,703 $ 1,703 $ 656 $ 354,725 Multi-family - 1,839 1,839 - 241,951 Commercial - 1,797 1,797 - 156,212 Home equity lines of credit and loans - 194 194 - 27,783 Construction - 1,286 1,286 - 107,317 Other loans: Commercial loans - 60 60 - 4,266 Consumer - 1 1 - 222 Unallocated - 320 320 - - Total $ - $ 7,200 $ 7,200 $ 656 $ 892,476
Schedule of Information Regarding Past Due Loans	The following table shows the age analysis of past due loans as of the date indicated: 30–59 Days 60–89 Days 90 Days Total Total Total 90 days (in thousands) As of September 30, 2023 Real estate loans: One-to-four family residential $ 507 $ — $ 274 $ 781 $ 394,509 $ 395,290 $ — Multi-family — — — — 281,192 281,192 — Commercial — — — — 185,657 185,657 — Home equity lines of credit and loans 97 8 16 121 33,286 33,407 — Construction — — — — 101,615 101,615 — Other loans: Commercial — — — — 8,471 8,471 — Consumer — — — — 248 248 — $ 604 $ 8 $ 290 $ 902 $ 1,004,978 $ 1,005,880 $ — The following table shows the age analysis of past due financing receivables as of the date indicated: 30–59 Days 60–89 Days 90 Days Total Total Total 90 days Loans on (in thousands) As of December 31, 2022 Real estate loans: One-to-four family residential $ — $ — $ 189 $ 189 $ 355,192 $ 355,381 $ — $ 656 Multi-family — — — — 241,951 241,951 — — Commercial — — — — 156,212 156,212 — — Home equity lines of credit and loans — — — — 27,783 27,783 — — Construction — — — — 107,317 107,317 — — Other loans: Commercial — — — — 4,266 4,266 — — Consumer — — — — 222 222 — — $ — $ — $ 189 $ 189 $ 892,943 $ 893,132 $ — $ 656
Schedule of Information Regarding Nonacccrual Loans	The following table shows information regarding nonaccrual loans as of the dates indicated: As of September 30, 2023 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 With Allowance for Credit Losses Without Allowance for Credit Losses Total Interest Income Recognized Interest Income Recognized (in thousands) Real estate loans: One-to-four family residential $ — $ 1,195 $ 1,195 $ 12 $ 26 Multi-family — — — — — Commercial — — — — — Home equity lines of credit and loans — 16 16 — — Construction — — — — — Other loans: Commercial — — — — — Consumer — — — — — Total nonaccrual loans $ — $ 1,211 $ 1,211 $ 12 $ 26
Schedule of Information About Impaired Loan	Information about loans that meet the definition of an impaired loan in Accounting Standards Codification (ASC) 310-10-35 is as follows as of and for the three and nine months ended September 30, 2022: As of September 30, 2022 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) September 30, 2022 With no related allowance recorded: One-to-four family residential $ 699 $ 699 $ — $ 701 $ 29 $ 694 $ 41 Home equity lines of credit and loans — — — — — 33 1 Total impaired loans $ 699 $ 699 $ — $ 701 $ 29 $ 727 $ 42 There were no impaired loans with an allowance recorded as of or during the nine months ended September 30, 2022. Information about loans that meet the definition of an impaired loan in Accounting Standards Codification (ASC) 310-10-35 is as follows as of December 31, 2022: As of December 31, 2022 Recorded Investment Unpaid Principal Balance Related Allowance (in thousands) December 31, 2022 With no related allowance recorded: One-to-four family residential $ 656 $ 656 $ — Total impaired loans $ 656 $ 656 $ — There were no impaired loans with an allowance recorded as of December 31, 2022.
Summary of Loans by Risk Rating	The following table details the amortized cost balances of the Company's loan portfolios, presented by credit quality indicator and origination year as of September 30, 2023: Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total 2023 2022 2021 2020 2019 Prior As of September 30, 2023 (in thousands) One-to-four family residential Pass $ 2,956 $ 36,791 $ 15,626 $ 5,206 $ 4,268 $ 9,320 $ — $ — $ 74,167 Special Mention — — — 810 — 457 — — 1,267 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 35,886 89,996 73,559 52,081 7,482 60,852 — — 319,856 Total $ 38,842 $ 126,787 $ 89,185 $ 58,097 $ 11,750 $ 70,629 $ — $ — $ 395,290 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Multi-family Pass $ 40,732 $ 195,365 $ 24,872 $ 8,942 $ — $ 10,031 $ 1,050 $ — $ 280,992 Special Mention 200 — — — — — — — 200 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) — — — — — — — — — Total $ 40,932 $ 195,365 $ 24,872 $ 8,942 $ — $ 10,031 $ 1,050 $ — $ 281,192 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate Pass $ 32,013 $ 72,933 $ 24,286 $ 16,663 $ 4,096 $ 31,970 $ 3,696 $ — $ 185,657 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) — — — — — — — — — Total $ 32,013 $ 72,933 $ 24,286 $ 16,663 $ 4,096 $ 31,970 $ 3,696 $ — $ 185,657 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Home equity lines of credit and loans Pass $ 327 $ — $ — $ — $ — $ — $ 6,252 $ — $ 6,579 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 377 37 12 — 67 41 25,734 560 26,828 Total $ 704 $ 37 $ 12 $ — $ 67 $ 41 $ 31,986 $ 560 $ 33,407 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction Pass $ 20,653 $ 54,145 $ 18,883 $ — $ 2,006 $ 2,988 $ — $ — $ 98,675 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 1,303 1,637 — — — — — — 2,940 Total $ 21,956 $ 55,782 $ 18,883 $ — $ 2,006 $ 2,988 $ — $ — $ 101,615 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial loans Pass $ 3,402 $ 3,454 $ 440 $ 40 $ 87 $ 159 $ 817 $ — $ 8,399 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) — — 72 — — — — — 72 Total $ 3,402 $ 3,454 $ 512 $ 40 $ 87 $ 159 $ 817 $ — $ 8,471 Current-period gross charge-offs (2) $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loans not formally rated (1) 38 40 48 — — 74 48 — 248 Total $ 38 $ 40 $ 48 $ — $ — $ 74 $ 48 $ — $ 248 Current-period gross charge-offs (2) $ 1 $ — $ — $ — $ — $ — $ — $ — $ — (1) There was one home equity line of credit loan originated prior to 2019 with an amortized cost of $ 16,000 that is not formally rated and was on non-accrual as of September 30, 2023. All other loans not formally rated were accruing as of September 30, 2023. (2) Gross charge-off disclosures are made starting in the period of adoption and prospectively. The following table presents the Bank’s loans by credit quality indicator as of December 31, 2022: Real Estate Home Equity Residential Multi-family Commercial Lines of Credit Construction Commercial Consumer Total (In Thousands) As of December 31, 2022 Grade Pass $ 63,817 $ 241,951 $ 156,212 $ 2,995 $ 103,272 $ 4,266 $ — $ 572,513 Special mention 467 — — — — — — 467 Substandard — — — — — — — — Doubtful — — — — — — — — Loans not 291,097 — — 24,788 4,045 — 222 320,152 $ 355,381 $ 241,951 $ 156,212 $ 27,783 $ 107,317 $ 4,266 $ 222 $ 893,132

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Defined Benefit Plan [Abstract]
Summary of share information held by the ESOP	The following table presents share information held by the ESOP: As of September 30, 2023 As of December 31, 2022 (Dollars in thousands) Allocated shares 36,701 36,701 Shares committed to be released 27,451 - Unallocated shares 669,868 697,319 Total shares 734,020 734,020 Fair value of unallocated shares $ 7,353 $ 11,192

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options Valuation Assumptions	The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model. The following table sets forth information regarding the grant: Date of grant 9/8/2023 Options granted 174,960 Vesting period (years) 5 Expiration date 9/8/2033 Expected volatility (1) 30.17 % Expected term (years) (2) 6.50 Expected dividend yield (3) 0.00 % Risk free rate of return (4) 4.31 % Fair value per option $ 4.74 (1) Expected volatility is based on the standard deviation of the historical volatility of the daily adjusted closing price of a group of peers' shares. (2) Expected term represents the period of time that the option is expected to be outstanding. The Company determined that expected life using the "Simplified Method." (3) Expected dividend yield is determined based on management's expectations regarding issuing dividends in the foreseeable future. (4) The risk-free rate of return is based on the U.S. Treasury yield curve in effect at the time of grant for a period equivalent to the expected term of the option.
Summary of Option Activity	The following tables represent stock option activities for the periods indicated: Three months ended September 30, 2023 Outstanding and exercisable Non-vested Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Balance at beginning of period - $ - - $ - - $ - - $ - Granted - - - - 174,960 11.80 9.95 - Exercised - - - - - - - - Vested - - - - - - - - Forfeited or expired - - - - - - - - Balance at end of period - $ - - $ - 174,960 $ 11.80 9.95 $ - Nine months ended September 30, 2023 Outstanding and exercisable Non-vested Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($1000) Balance at beginning of period - $ - - $ - - $ - - $ - Granted - - - - 174,960 11.80 9.95 - Exercised - - - - - - - - Vested - - - - - - - - Forfeited or expired - - - - - - - - Balance at end of period - $ - - $ - 174,960 $ 11.80 9.95 $ -
Summary of Non-vested Restricted Stock Award Activity	The following table represents information regarding non-vested restricted stock award activities for the periods indicated: Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 Number of Shares Weighted-Average Grant Date Fair Value Per Share Number of Shares Weighted-Average Grant Date Fair Value Per Share Balance at beginning of period - $ - - $ - Granted 69,984 11.80 69,984 11.80 Vested - - - - Forfeited - - - - Balance at end of period 69,984 $ 11.80 69,984 $ 11.80
Summary of Compensation Expense and Income Tax Benefit Recognized	The following table represents the compensation expense and income tax benefit recognized for stock options and restricted stock awards for the periods indicated: Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 (in thousands) Stock-based compensation expense Stock options $ 10 $ 10 Restricted stock awards 10 10 Total stock-based compensation expense $ 20 $ 20 Related tax benefits recognized in earnings $ 6 $ 6
Schedule of Compensation Cost Related to Non-vested Awards	The following table sets forth the total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized as of September 30, 2023: Amount Weighted average period (in thousands) Stock options $ 819 4.95 Restricted stock awards 816 4.95 Total $ 1,635

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets Measured at Fair Value on Recurring Basis	As of September 30, 2023 and December 31, 2022, the following summarizes assets measured at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Total Quoted Prices Significant Significant in Active Other Unobservable Markets for Observable Inputs Identical Assets Inputs Level 3 Level 1 Level 2 (in thousands) September 30, 2023 Corporate bonds $ 5,006 $ — $ 5,006 $ — $ — Total available for-sale-securities $ 5,006 $ — $ 5,006 $ — December 31, 2022 Corporate bonds $ 5,001 $ — $ 5,001 $ — Total available for-sale-securities $ 5,001 $ — $ 5,001 $ —
Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis or Non-Recurring Basis	For September 30, 2023 and December 31, 2022, fair values of loans are estimated on an exit price basis incorporating discounts for credit, liquidity and marketability factors. September 30, 2023 Carrying Fair Amount Value Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 97,387 $ 97,387 $ 97,387 $ - $ - Held-to-maturity securities 74,869 65,844 - 65,844 - Federal Home Loan Bank stock 9,571 9,571 - 9,571 - Loans, net 997,359 915,147 - - 915,147 Accrued interest receivable 3,390 3,390 3,390 - - Bank-owned life insurance 14,367 14,367 - 14,367 - Financial liabilities: Deposits, other than certificates of deposit $ 370,508 $ 370,508 $ - $ 370,508 $ - Certificates of deposit 442,023 434,310 - 434,310 - Federal Home Loan Bank advances 224,000 217,282 - 217,282 - Accrued interest payable 1,284 1,284 1,284 - - December 31, 2022 Carrying Fair Amount Value Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 62,050 $ 62,050 $ 62,050 $ - $ - Interest bearing time deposits 300 300 - 300 - Held-to-maturity securities 77,591 69,707 - 69,707 - Federal Home Loan Bank stock 7,293 7,293 - 7,293 - Loans, net 885,674 841,271 - - 841,271 Accrued interest receivable 2,632 2,632 2,632 - - Bank-owned life insurance 14,067 14,067 - 14,067 - Financial liabilities: Deposits, other than certificates of deposit $ 398,302 $ 398,302 $ - $ 398,302 $ - Certificates of deposit 319,847 310,943 - 310,943 - Federal Home Loan Bank advances 174,000 172,427 - 172,427 - Accrued interest payable 736 736 736 - -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Financial Instrument Liabilities Represent Off-Balance Sheet Credit Risk	Amounts of financial instruments whose contract amounts represent off-balance sheet credit risk are as follows as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 (in thousands) Commitments to originate loans $ 32,696 $ 37,220 Commitments to purchase loans 3,035 6,653 Unadvanced funds on lines of credit 79,871 80,224 Unadvanced funds on construction loans 56,275 72,431 Letters of credit - 13 $ 171,877 $ 196,541

Other Comprehensive (Loss) In_2

Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Components of Other Comprehensive (Loss) Income and Related Tax Effects	The com ponents of other comprehensive (loss) income and related tax effects are as follows for the three and nine months ended September 30, 2023 and 2022: Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 (in thousands) (in thousands) Unrealized (losses) gains on securities: Net unrealized holding (losses) gains on available-for-sale securities $ ( 2 ) $ 3 $ ( 4 ) $ ( 24 ) Reclassification adjustment for realized gains in net income — — — — ( 2 ) 3 ( 4 ) ( 24 ) Income tax (expense) benefit — ( 1 ) 1 7 Net-of-tax amount ( 2 ) 2 ( 3 ) ( 17 ) Other comprehensive (loss) income, net of tax $ ( 2 ) $ 2 $ ( 3 ) $ ( 17 )
Schedule of Accumulated Other Comprehensive Income	Accumulated other comprehensive income as of September 30, 2023 and December 31, 2022 consists of unrecognized benefit costs, net of taxes, and unrealized holding gains on securities available for sale, net of tax, as follows: As of September 30, 2023 As of December 31, 2022 (in thousands) Net unrealized holding gains on securities available-for-sale, net of tax $ 6 $ 9 Unrecognized SERP costs, net of tax 149 149 Unrecognized director fee continuation plan costs, net of tax 91 91 Accumulated other comprehensive income $ 246 $ 249

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
	Sep. 30, 2023
Regulated Operations [Abstract]
Schedule of Company's and Bank's Actual Capital Amounts and Ratios	The Bank’s actual capital amounts and ratios are presented in the table as of the dates indicated: Minimum For Capital Minimum To Be Well Adequacy Purposes Capitalized Under Plus Capital Prompt Corrective Actual Conservation Buffer Action Provisions Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of September 30, 2023 Total Capital (to Risk Weighted Assets) $ 142,830 16.40 % $ 91,443 10.50 % $ 87,089 10.00 % Tier 1 Capital (to Risk Weighted Assets) 133,589 15.34 % 74,026 8.50 % 69,671 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) 133,589 15.34 % 60,962 7.00 % 56,608 6.50 % Tier 1 Capital (to Average Assets) 133,589 11.14 % 47,955 4.00 % 59,943 5.00 % As of December 31, 2022 Total Capital (to Risk Weighted Assets) $ 138,023 16.40 % $ 88,386 10.50 % $ 84,177 10.00 % Tier 1 Capital (to Risk Weighted Assets) 130,421 15.49 % 71,550 8.50 % 67,342 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) 130,421 15.49 % 58,924 7.00 % 54,715 6.50 % Tier 1 Capital (to Average Assets) 130,421 13.89 % 37,562 4.00 % 46,953 5.00 %

Earnings per Share ("EPS") (Tab

Earnings per Share ("EPS") (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings per share data	Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 (in thousands, except per share data) Net income (loss) allocated to common stock $ 1,341 $ ( 1,035 ) $ 3,667 $ 1,744 Weighted-average common shares outstanding used to calculate basic earnings (loss) per common share 8,486,577 8,445,615 8,485,936 8,445,615 Add: Dilutive effect of stock options and restricted stock awards - - - - Weighted-average common shares outstanding used to calculate diluted earnings (loss) per common share 8,486,577 8,445,615 8,485,936 8,445,615 Earnings (loss) per common share Basic $ 0.16 $ ( 0.12 ) $ 0.43 $ 0.21 Diluted $ 0.16 $ ( 0.12 ) $ 0.43 $ 0.21 For the three and nine months ended September 30, 2023, the shares that were anti-dilutive, and therefore excluded from the calculation of diluted earnings per share, included options to purchase 174,960 shares of common stock and 69,984 shares of restricted stock awards. For the three and nine months ended September 30, 2022, there were no anti-dilutive shares.

Conversion - Additional Informa

Conversion - Additional Information (Details) - USD ($)		9 Months Ended
	Mar. 09, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Number of shares sold in offering	8,915,247	9,195,989		9,175,247
Common stock per share price	$ 10	$ 0.01		$ 0.01
Gross offering proceeds	$ 89,200,000	$ 0	$ 79,247,000
Amount contributed through cash	$ 600,000
Number of common stock shares funded	260,000

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Basis of Presentation [Line Items]
Stockholders Equity	$ 165,512,000	$ 164,629,000	$ 162,730,000	$ 161,062,000	$ 80,033,000	$ 77,273,000
ASU 2016-13
Basis of Presentation [Line Items]
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2023
Change in accounting principle, accounting standards update, adopted	true
ASU 2016-13 | Cumulative Effect Transition Adjustment
Basis of Presentation [Line Items]
Stockholders Equity	$ 677,000
ASU 2022-02
Basis of Presentation [Line Items]
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2023
Change in accounting principle, accounting standards update, adopted	true

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Financial Statement Impact Upon Adoption of Topic 326 (Details) - USD ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets:
Allowance for credit losses on loans	$ 8,292,000		$ 7,200,000	$ 6,037,000	$ 5,111,000	$ 4,236,000
Deferred tax asset, net	4,687,000		4,344,000
Liabilities
Allowance for credit losses on off balance sheet credit exposures	$ 949,000		402,000
ASU 2016-13
Assets:
Allowance for credit losses on loans		$ 7,382,000	7,200,000
Deferred tax asset, net		4,610,000	4,344,000
Liabilities
Allowance for credit losses on off balance sheet credit exposures		$ 1,163,000	402,000
ASU 2016-13 | Transition Adjustment
Assets:
Allowance for credit losses on loans			182,000
Deferred tax asset, net			266,000
Liabilities
Allowance for credit losses on off balance sheet credit exposures			$ 761,000

Investments in Securities - Sch

Investments in Securities - Schedule of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	$ 74,869	$ 77,591
Held-to-maturity securities, Gross Unrealized Gains	1	9
Held-to-maturity securities, Gross Unrealized Losses	(9,026)	(7,893)
Held-to-maturity securities, Allowance for Credit Losses	0	0
Held-to-maturity securities, Fair Value	65,844	69,707
Debt Securities Issued by U.S. Government-Sponsored Enterprises
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	10,220	11,213
Held-to-maturity securities, Gross Unrealized Gains	0	6
Held-to-maturity securities, Gross Unrealized Losses	(523)	(578)
Held-to-maturity securities, Allowance for Credit Losses	0	0
Held-to-maturity securities, Fair Value	9,697	10,641
Mortgage-backed Securities
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	47,687	51,864
Held-to-maturity securities, Gross Unrealized Gains	1	3
Held-to-maturity securities, Gross Unrealized Losses	(7,368)	(6,181)
Held-to-maturity securities, Allowance for Credit Losses	0	0
Held-to-maturity securities, Fair Value	40,320	45,686
Corporate Bonds
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	11,585	11,612
Held-to-maturity securities, Gross Unrealized Gains	0	0
Held-to-maturity securities, Gross Unrealized Losses	(1,080)	(1,041)
Held-to-maturity securities, Allowance for Credit Losses	0	0
Held-to-maturity securities, Fair Value	10,505	10,571
US Treasury Securities
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	5,377	2,902
Held-to-maturity securities, Gross Unrealized Gains	0	0
Held-to-maturity securities, Gross Unrealized Losses	(55)	(93)
Held-to-maturity securities, Allowance for Credit Losses	0	0
Held-to-maturity securities, Fair Value	$ 5,322	$ 2,809

Investments in Securities - S_2

Investments in Securities - Schedule of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 5,000	$ 4,991
Available-for-sale Securities, Gross Unrealized Gains	6	10
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale Securities, Allowance for Credit Losses	0	0
Available-for-sale Securities, Fair Value	5,006	5,001
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	5,000	4,991
Available-for-sale Securities, Gross Unrealized Gains	6	10
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale Securities, Allowance for Credit Losses	0	0
Available-for-sale Securities, Fair Value	$ 5,006	$ 5,001

Investments in Securities - S_3

Investments in Securities - Schedule of the Contractual Maturities of Available for Sale and Held-to-Maturity Securities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Available-for-sale, Fair Value, Within 1 year	$ 5,006
Available-for-sale, Fair Value, After 1 year through 5 years	0
Available-for-sale, Fair Value, After 5 years through 10 years	0
Available-for-sale, Fair Value, After 10 Years	0
Available-for-sale, Fair Value	5,006
Held-to-maturity, Amortized Cost Basis, Within 1 year	7,267
Held-to-maturity, Amortized Cost Basis, After 1 year through 5 years	21,672
Held-to-maturity, Amortized Cost Basis, After 5 years through 10 years	3,538
Held-to-maturity, Amortized Cost Basis, After 10 years	42,392
Held-to-maturity, Amortized Cost Basis, Total	74,869
Held-to-maturity, Fair Value, Within 1 year	7,183
Held-to-maturity, Fair Value, After 1 year through 5 years	20,324
Held-to-maturity, Fair Value, After 5 years through 10 years	3,068
Held-to-maturity, Fair Value, After 10 years	35,269
Held-to-maturity, Fair Value	$ 65,844

Investments in Securities - Add

Investments in Securities - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) Age Security	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Age Security	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Accrued interest on held to maturity securities	$ 265,000		$ 265,000		$ 267,000
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable		Interest Receivable		Interest Receivable
Accrued interest on available for sale securities	$ 57,000		$ 57,000		$ 49,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable		Interest Receivable		Interest Receivable
Held-to-maturity securities, write-offs of accrued interest income	$ 0		$ 0
Available-for-sale securities, write-offs of accrued interest income	0		0
Available-for-sale securities, delinquent amount	0		0
Available-for-sale securities, nonaccrual status	0		0
Sale of securities	0	$ 0	0	$ 0
Allowance for credit losses on securities	$ 0		$ 0
Debt securities issued by U.S. government-sponsored enterprises
Schedule Of Available For Sale Securities [Line Items]
Number of securities | Security	4		4
Percentage of unrealized losses with aggregate depreciation	5.10%		5.10%
Mortgage-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Number of securities | Age	52		52
Percentage of unrealized losses with aggregate depreciation	15.50%		15.50%
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Number of securities | Age	7		7
Percentage of unrealized losses with aggregate depreciation	9.30%		9.30%
US Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Number of securities | Age	2		2
Percentage of unrealized losses with aggregate depreciation	1%		1%
FHLB | Loans Pledged
Schedule Of Available For Sale Securities [Line Items]
Pledged securities	$ 63,300,000		$ 63,300,000		$ 63,000,000

Investments in Securities - Agg

Investments in Securities - Aggregate Fair Value and Unrealized Losses of Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Held To Maturity Securities [Line Items]
Less than 12 Months, Fair Value	$ 12,641	$ 37,022
Less than 12 Months, Unrealized Losses	(299)	(2,468)
12 Months or Longer, Fair Value	53,073	29,756
12 Months or Longer, Unrealized Losses	(8,727)	(5,425)
Fair Value, Total	65,714	66,778
Unrealized Losses, Total	(9,026)	(7,893)
Debt Securities Issued by U.S. Government-Sponsored Enterprises
Schedule Of Held To Maturity Securities [Line Items]
Less than 12 Months, Fair Value	2,723	2,847
Less than 12 Months, Unrealized Losses	(23)	(40)
12 Months or Longer, Fair Value	6,974	5,046
12 Months or Longer, Unrealized Losses	(500)	(538)
Fair Value, Total	9,697	7,893
Unrealized Losses, Total	(523)	(578)
Mortgage-backed Securities
Schedule Of Held To Maturity Securities [Line Items]
Less than 12 Months, Fair Value	7,442	20,795
Less than 12 Months, Unrealized Losses	(275)	(1,294)
12 Months or Longer, Fair Value	32,748	24,710
12 Months or Longer, Unrealized Losses	(7,093)	(4,887)
Fair Value, Total	40,190	45,505
Unrealized Losses, Total	(7,368)	(6,181)
Corporate Bonds
Schedule Of Held To Maturity Securities [Line Items]
Less than 12 Months, Fair Value	0	10,571
Less than 12 Months, Unrealized Losses	0	(1,041)
12 Months or Longer, Fair Value	10,505	0
12 Months or Longer, Unrealized Losses	(1,080)	0
Fair Value, Total	10,505	10,571
Unrealized Losses, Total	(1,080)	(1,041)
US Treasury Securities
Schedule Of Held To Maturity Securities [Line Items]
Less than 12 Months, Fair Value	2,476	2,809
Less than 12 Months, Unrealized Losses	(1)	(93)
12 Months or Longer, Fair Value	2,846	0
12 Months or Longer, Unrealized Losses	(54)	0
Fair Value, Total	5,322	2,809
Unrealized Losses, Total	$ (55)	$ (93)

Loans, Allowance for Credit L_3

Loans, Allowance for Credit Losses and Credit Quality - Schedule of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 1,005,880		$ 893,132
Net deferred loan fees	(229)		(258)
Allowance for credit losses	(8,292)		(7,200)	$ (6,037)	$ (5,111)	$ (4,236)
Total loans, net	$ 997,359		$ 885,674
Total loans, gross percent	100%		100%
Real Estate Loans | Home Equity Lines of Credit and Loans
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 33,407		$ 27,783
Allowance for credit losses	$ (207)	$ (203)	$ (194)	(204)	(193)	(185)
Total loans, gross percent	3.30%		3.10%
Real Estate Loans | One-to Four Family Residential
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 395,290		$ 355,381
Total loans, gross percent	39.30%		39.80%
Real Estate Loans | Multi Family
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 281,192		$ 241,951
Allowance for credit losses	$ (2,229)	(2,150)	$ (1,839)	(1,165)	(779)	(417)
Total loans, gross percent	28%		27.10%
Real Estate Loans | Commercial Real Estate Loans
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 185,657		$ 156,212
Allowance for credit losses	$ (2,194)	(2,348)	$ (1,797)	(1,554)	(1,353)	(1,099)
Total loans, gross percent	18.50%		17.50%
Real Estate Loans | Construction
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 101,615		$ 107,317
Allowance for credit losses	$ (1,444)	(1,570)	$ (1,286)	(1,081)	(950)	(855)
Total loans, gross percent	10.10%		12%
Other Loans | Commercial Loans
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 8,471		$ 4,266
Allowance for credit losses	$ (197)	(218)	$ (60)	(60)	(46)	(60)
Total loans, gross percent	0.80%		0.50%
Other Loans | Consumer
Accounts Notes And Loans Receivable [Line Items]
Total loans, gross	$ 248		$ 222
Allowance for credit losses	$ (1)	$ (1)	$ (1)	$ (1)	$ (1)	$ (2)
Total loans, gross percent	0%		0%

Loans, Allowance for Credit L_4

Loans, Allowance for Credit Losses and Credit Quality - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Grade	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule Of Loans Allowance For Loan Losses And Credit Quality [Line Items]
Total outstanding loan balances	$ 889,000	$ 973,000	$ 889,000	$ 973,000	$ 909,000	$ 943,000	$ 1,223,000	$ 1,257,000
Troubled debt restructuring		0		0
TDR loans, subsequently defaulted within one year		0		0
Number of Internal Loan Rating Grades | Grade			7
Loan restructuring	0		$ 0
Total impaired with a related allowance		0		0		0
Total impaired with a related allowance		0		0		0
Related Allowance		$ 0		$ 0		0
FHLBB | Loans Pledged
Schedule Of Loans Allowance For Loan Losses And Credit Quality [Line Items]
Carrying value of loans pledged	558,300,000		558,300,000			333,500,000
Commercial And Industrial Loans
Schedule Of Loans Allowance For Loan Losses And Credit Quality [Line Items]
Threshold limit for loans receivable	500,000		500,000
Commercial Real Estate Loans
Schedule Of Loans Allowance For Loan Losses And Credit Quality [Line Items]
Threshold limit for loans receivable	1,000,000		1,000,000
Residential Real Estate
Schedule Of Loans Allowance For Loan Losses And Credit Quality [Line Items]
Mortgage loans in process of foreclosure	$ 110,000		$ 110,000			$ 0

Loans, Allowance for Credit L_5

Loans, Allowance for Credit Losses and Credit Quality - Summary of Activity for Loans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Receivables [Abstract]
Beginning Balance	$ 909,000	$ 1,223,000	$ 943,000	$ 1,257,000
New Loans	0	0	0	0
Advances	0	75,000	0	375,000
Paydowns	(20,000)	(325,000)	(54,000)	(659,000)
Ending Balance	$ 889,000	$ 973,000	$ 889,000	$ 973,000

Loans, Allowance for Credit L_6

Loans, Allowance for Credit Losses and Credit Quality - Schedule of Information Regarding Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022
Allowance for loan losses
Beginning balance		$ 5,111,000	$ 7,200,000	$ 4,236,000
Charge-offs	$ (1,000)	0	(1,000)	0
Recoveries	1,000	1,000	1,000	1,000
Provision (benefit)	178,000	925,000	910,000	1,800,000
Ending balance	8,292,000	6,037,000	8,292,000	6,037,000
Individually evaluated for impairment							$ 0
Collectively evaluated for impairment							7,200,000
Total allowance for loan losses ending balance	8,292,000	6,037,000	8,292,000	6,037,000			7,200,000
Individually evaluated for impairment							656,000
Collectively evaluated for impairment							892,476,000
Total Loans	1,005,880,000		1,005,880,000		$ 8,470,000		893,132,000
ASU 2016-13
Allowance for loan losses
Beginning balance			7,200,000
Total allowance for loan losses ending balance						$ 7,382,000	7,200,000
Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Ending balance	182,000		182,000
Total allowance for loan losses ending balance	182,000		182,000
Total Loans							182,000
Commercial Loans
Allowance for loan losses
Total Loans							4,266,000
Consumer
Allowance for loan losses
Total Loans							222,000
Unallocated
Allowance for loan losses
Beginning balance		320,000	320,000	347,000
Charge-offs		0		0
Recoveries		0		0
Provision (benefit)		0	0	(27,000)
Ending balance	0	320,000	0	320,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							320,000
Total allowance for loan losses ending balance	0	320,000	0	320,000			320,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							0
Unallocated | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			(320,000)
Total allowance for loan losses ending balance							(320,000)
Real Estate | Home Equity Lines of Credit and Loans
Allowance for loan losses
Beginning balance	203,000	193,000	194,000	185,000
Charge-offs	0	0	0	0
Recoveries	0	1,000	0	1,000
Provision (benefit)	4,000	10,000	33,000	18,000
Ending balance	207,000	204,000	207,000	204,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							194,000
Total allowance for loan losses ending balance	207,000	204,000	207,000	204,000	203,000		194,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							27,783,000
Total Loans	33,407,000		33,407,000				27,783,000
Real Estate | Home Equity Lines of Credit and Loans | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			(20,000)
Total allowance for loan losses ending balance							(20,000)
Real Estate | One- to Four-Family Residential
Allowance for loan losses
Beginning balance	1,980,000	1,469,000	1,703,000	1,271,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (benefit)	40,000	183,000	187,000	381,000
Ending balance	2,020,000	1,652,000	2,020,000	1,652,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							1,703,000
Total allowance for loan losses ending balance	2,020,000	1,652,000	2,020,000	1,652,000	1,980,000		1,703,000
Individually evaluated for impairment							656,000
Collectively evaluated for impairment							354,725,000
Total Loans	395,290,000		395,290,000				355,381,000
Real Estate | One- to Four-Family Residential | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			130,000
Total allowance for loan losses ending balance							130,000
Real Estate | Multi Family
Allowance for loan losses
Beginning balance	2,150,000	779,000	1,839,000	417,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (benefit)	79,000	386,000	313,000	748,000
Ending balance	2,229,000	1,165,000	2,229,000	1,165,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							1,839,000
Total allowance for loan losses ending balance	2,229,000	1,165,000	2,229,000	1,165,000	2,150,000		1,839,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							241,951,000
Total Loans	281,192,000		281,192,000				241,951,000
Real Estate | Multi Family | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			77,000
Total allowance for loan losses ending balance							77,000
Real Estate | Commercial
Allowance for loan losses
Beginning balance	2,348,000	1,353,000	1,797,000	1,099,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (benefit)	(154,000)	201,000	252,000	455,000
Ending balance	2,194,000	1,554,000	2,194,000	1,554,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							1,797,000
Total allowance for loan losses ending balance	2,194,000	1,554,000	2,194,000	1,554,000	2,348,000		1,797,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							156,212,000
Total Loans	185,657,000		185,657,000				156,212,000
Real Estate | Commercial | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			145,000
Total allowance for loan losses ending balance							145,000
Real Estate | Construction
Allowance for loan losses
Beginning balance	1,570,000	950,000	1,286,000	855,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (benefit)	(126,000)	131,000	22,000	226,000
Ending balance	1,444,000	1,081,000	1,444,000	1,081,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							1,286,000
Total allowance for loan losses ending balance	1,444,000	1,081,000	1,444,000	1,081,000	1,570,000		1,286,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							107,317,000
Total Loans	101,615,000		101,615,000				107,317,000
Real Estate | Construction | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			136,000
Total allowance for loan losses ending balance							136,000
Other Loans | Commercial Loans
Allowance for loan losses
Beginning balance	218,000	46,000	60,000	60,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (benefit)	(21,000)	(14,000)	103,000	0
Ending balance	197,000	60,000	197,000	60,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							60,000
Total allowance for loan losses ending balance	197,000	60,000	197,000	60,000	218,000		60,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							4,266,000
Total Loans	8,471,000		8,471,000				4,266,000
Other Loans | Commercial Loans | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			34,000
Total allowance for loan losses ending balance							34,000
Other Loans | Consumer
Allowance for loan losses
Beginning balance	1,000	1,000	1,000	2,000
Charge-offs	(1,000)	0	(1,000)	0
Recoveries	1,000	0	1,000	0
Provision (benefit)	0	0	0	(1,000)
Ending balance	1,000	1,000	1,000	1,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							1,000
Total allowance for loan losses ending balance	1,000	$ 1,000	1,000	$ 1,000	$ 1,000		1,000
Individually evaluated for impairment							0
Collectively evaluated for impairment							222,000
Total Loans	$ 248,000		248,000				222,000
Other Loans | Consumer | Cumulative effect accounting adjustment | ASU 2016-13
Allowance for loan losses
Beginning balance			0
Total allowance for loan losses ending balance							$ 0
Other Loans | Unallocated
Allowance for loan losses
Charge-offs			0
Recoveries			$ 0

Loans, Allowance for Credit L_7

Loans, Allowance for Credit Losses and Credit Quality - Schedule of Information Regarding Allowance for Loan Losses (Parenthetical) (Details) - USD ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses	$ 8,292,000		$ 7,200,000	$ 6,037,000	$ 5,111,000	$ 4,236,000
Allowance for credit losses	0
ASU 2016-13
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses		$ 7,382,000	$ 7,200,000
Cumulative effect accounting adjustment | ASU 2016-13
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses	182,000
Allowance for credit losses	$ 2,900,000

Loans, Allowance for Credit L_8

Loans, Allowance for Credit Losses and Credit Quality - Schedule of Information Regarding Past Due Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	$ 1,005,880	$ 8,470	$ 893,132
90 days or more and accruing	0		0
Loans on Non-accrual	1,211		656
30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	604		0
60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	8		0
90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	290		189
Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	902		189
Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	1,004,978		892,943
Commercial Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans			4,266
Consumer
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans			222
Real Estate Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans on Non-accrual			656
Real Estate Loans | Home Equity Lines of Credit and Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	33,407		27,783
90 days or more and accruing	0		0
Loans on Non-accrual	16		0
Real Estate Loans | 30–59 Days | Home Equity Lines of Credit and Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	97		0
Real Estate Loans | 60–89 Days | Home Equity Lines of Credit and Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	8		0
Real Estate Loans | 90 Days or More | Home Equity Lines of Credit and Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	16		0
Real Estate Loans | Total Past Due | Home Equity Lines of Credit and Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	121		0
Real Estate Loans | Total Current | Home Equity Lines of Credit and Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	33,286		27,783
Real Estate Loans | One- to Four-Family Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	395,290		355,381
90 days or more and accruing	0		0
Loans on Non-accrual	1,195
Real Estate Loans | One- to Four-Family Residential | 30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	507		0
Real Estate Loans | One- to Four-Family Residential | 60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | One- to Four-Family Residential | 90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	274		189
Real Estate Loans | One- to Four-Family Residential | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	781		189
Real Estate Loans | One- to Four-Family Residential | Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	394,509		355,192
Real Estate Loans | Multi Family
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	281,192		241,951
90 days or more and accruing	0		0
Loans on Non-accrual	0		0
Real Estate Loans | Multi Family | 30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Multi Family | 60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Multi Family | 90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Multi Family | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Multi Family | Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	281,192		241,951
Real Estate Loans | Commercial Real Estate Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	185,657		156,212
90 days or more and accruing	0		0
Loans on Non-accrual	0		0
Real Estate Loans | Commercial Real Estate Loans | 30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | 60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | 90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	185,657		156,212
Real Estate Loans | Construction
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	101,615		107,317
90 days or more and accruing	0		0
Loans on Non-accrual	0		0
Real Estate Loans | Construction | 30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Construction | 60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Construction | 90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Construction | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Real Estate Loans | Construction | Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	101,615		107,317
Other Loans | Commercial Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	8,471		4,266
90 days or more and accruing	0		0
Loans on Non-accrual	0		0
Other Loans | Commercial Loans | 30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Commercial Loans | 60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Commercial Loans | 90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Commercial Loans | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Commercial Loans | Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	8,471		4,266
Other Loans | Consumer
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	248		222
90 days or more and accruing	0		0
Loans on Non-accrual	0		0
Other Loans | Consumer | 30–59 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Consumer | 60–89 Days
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Consumer | 90 Days or More
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Consumer | Total Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	0		0
Other Loans | Consumer | Total Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Loans	$ 248		$ 222

Loans, Allowance for Credit L_9

Loans, Allowance for Credit Losses and Credit Quality - Schedule of Information Regarding Nonaccrual Loans (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	$ 0	$ 0
Without Allowance for Credit Losses	1,211	1,211
Total	1,211	1,211	$ 656
Interest income recognized	12	26
Total	1,211	1,211	656
Real Estate Loans
Accounts Notes And Loans Receivable [Line Items]
Total			656
Total			656
Real Estate Loans | Home Equity Lines of Credit and Loans
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	16	16
Total	16	16	0
Interest income recognized	0	0
Total	16	16	0
Real Estate Loans | One- to Four-Family Residential
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	1,195	1,195
Total	1,195	1,195
Interest income recognized	12	26
Total	1,195	1,195
Real Estate Loans | Multi Family
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	0	0
Total	0	0	0
Interest income recognized	0	0
Total	0	0	0
Real Estate Loans | Commercial Real Estate Loans
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	0	0
Total	0	0	0
Interest income recognized	0	0
Total	0	0	0
Real Estate Loans | Construction
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	0	0
Total	0	0	0
Interest income recognized	0	0
Total	0	0	0
Other Loans | Commercial Loans
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	0	0
Total	0	0	0
Interest income recognized	0	0
Total	0	0	0
Other Loans | Consumer
Accounts Notes And Loans Receivable [Line Items]
With allowance for credit losses	0	0
Without Allowance for Credit Losses	0	0
Total	0	0	0
Interest income recognized	0	0
Total	$ 0	$ 0	$ 0

Loans, Allowance for Credit _10

Loans, Allowance for Credit Losses and Credit Quality - Schedule of Information About Impaired Loan (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022
Recorded Investment
Total impaired with no related allowance	$ 699,000	$ 699,000	$ 656,000
Total impaired with a related allowance	0	0	0
Unpaid Principal Balance
Total impaired with no related allowance	699,000	699,000	656,000
Total impaired with a related allowance	0	0	0
Related Allowance	0	0	0
Average Recorded Investment
Total impaired with no related allowance	701,000	727,000
Interest Income Recognized
Total impaired with no related allowance	29,000	42,000
Real Estate Loans | Home Equity Lines of Credit and Loans
Recorded Investment
Total impaired with no related allowance	0	0
Unpaid Principal Balance
Total impaired with no related allowance	0	0
Related Allowance	0	0
Average Recorded Investment
Total impaired with no related allowance	0	33,000
Interest Income Recognized
Total impaired with no related allowance	0	1,000
Real Estate Loans | Residential
Recorded Investment
Total impaired with no related allowance	699,000	699,000	656,000
Unpaid Principal Balance
Total impaired with no related allowance	699,000	699,000	656,000
Related Allowance	0	0	$ 0
Average Recorded Investment
Total impaired with no related allowance	701,000	694,000
Interest Income Recognized
Total impaired with no related allowance	$ 29,000	$ 41,000

Loans, Allowance for Credit _11

Loans, Allowance for Credit Losses and Credit Quality - Summary of Loans by Risk Rating (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable Impaired [Line Items]
Total Loans	$ 1,005,880	$ 8,470	$ 893,132
Pass
Financing Receivable Impaired [Line Items]
Total Loans			572,513
Special Mention
Financing Receivable Impaired [Line Items]
Total Loans			467
Substandard
Financing Receivable Impaired [Line Items]
Total Loans			0
Doubtful
Financing Receivable Impaired [Line Items]
Total Loans			0
Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
Total Loans			320,152
Commercial Loans
Financing Receivable Impaired [Line Items]
Total Loans			4,266
Commercial Loans | Pass
Financing Receivable Impaired [Line Items]
Total Loans			4,266
Commercial Loans | Special Mention
Financing Receivable Impaired [Line Items]
Total Loans			0
Commercial Loans | Substandard
Financing Receivable Impaired [Line Items]
Total Loans			0
Commercial Loans | Doubtful
Financing Receivable Impaired [Line Items]
Total Loans			0
Commercial Loans | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
Total Loans			0
Consumer
Financing Receivable Impaired [Line Items]
Total Loans			222
Consumer | Pass
Financing Receivable Impaired [Line Items]
Total Loans			0
Consumer | Special Mention
Financing Receivable Impaired [Line Items]
Total Loans			0
Consumer | Substandard
Financing Receivable Impaired [Line Items]
Total Loans			0
Consumer | Doubtful
Financing Receivable Impaired [Line Items]
Total Loans			0
Consumer | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
Total Loans			222
Real Estate Loans | Home Equity Lines of Credit and Loans
Financing Receivable Impaired [Line Items]
2023	704
2022	37
2021	12
2020	0
2019	67
Prior	41
Revolving loans amortized cost basis	31,986
Revolving loans converted to term loans	560
Total Loans	33,407		27,783
Current-period gross writeoffs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Real Estate Loans | Home Equity Lines of Credit and Loans | Pass
Financing Receivable Impaired [Line Items]
2023	327
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	6,252
Revolving loans converted to term loans	0
Total Loans	6,579		2,995
Real Estate Loans | Home Equity Lines of Credit and Loans | Special Mention
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Home Equity Lines of Credit and Loans | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Home Equity Lines of Credit and Loans | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Home Equity Lines of Credit and Loans | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	377
2022	37
2021	12
2020	0
2019	67
Prior	41
Revolving loans amortized cost basis	25,734
Revolving loans converted to term loans	560
Total Loans	26,828		24,788
Real Estate Loans | One- to Four-Family Residential
Financing Receivable Impaired [Line Items]
2023	38,842
2022	126,787
2021	89,185
2020	58,097
2019	11,750
Prior	70,629
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	395,290		355,381
Current-period gross writeoffs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Real Estate Loans | One- to Four-Family Residential | Pass
Financing Receivable Impaired [Line Items]
2023	2,956
2022	36,791
2021	15,626
2020	5,206
2019	4,268
Prior	9,320
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	74,167		63,817
Real Estate Loans | One- to Four-Family Residential | Special Mention
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	810
2019	0
Prior	457
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	1,267		467
Real Estate Loans | One- to Four-Family Residential | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | One- to Four-Family Residential | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | One- to Four-Family Residential | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	35,886
2022	89,996
2021	73,559
2020	52,081
2019	7,482
Prior	60,852
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	319,856		291,097
Real Estate Loans | Multi Family
Financing Receivable Impaired [Line Items]
2023	40,932
2022	195,365
2021	24,872
2020	8,942
2019	0
Prior	10,031
Revolving loans amortized cost basis	1,050
Revolving loans converted to term loans	0
Total Loans	281,192		241,951
Current-period gross writeoffs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Real Estate Loans | Multi Family | Pass
Financing Receivable Impaired [Line Items]
2023	40,732
2022	195,365
2021	24,872
2020	8,942
2019	0
Prior	10,031
Revolving loans amortized cost basis	1,050
Revolving loans converted to term loans	0
Total Loans	280,992		241,951
Real Estate Loans | Multi Family | Special Mention
Financing Receivable Impaired [Line Items]
2023	200
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	200		0
Real Estate Loans | Multi Family | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Multi Family | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Multi Family | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans
Financing Receivable Impaired [Line Items]
2023	32,013
2022	72,933
2021	24,286
2020	16,663
2019	4,096
Prior	31,970
Revolving loans amortized cost basis	3,696
Revolving loans converted to term loans	0
Total Loans	185,657		156,212
Current-period gross writeoffs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Real Estate Loans | Commercial Real Estate Loans | Pass
Financing Receivable Impaired [Line Items]
2023	32,013
2022	72,933
2021	24,286
2020	16,663
2019	4,096
Prior	31,970
Revolving loans amortized cost basis	3,696
Revolving loans converted to term loans	0
Total Loans	185,657		156,212
Real Estate Loans | Commercial Real Estate Loans | Special Mention
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Commercial Real Estate Loans | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Construction
Financing Receivable Impaired [Line Items]
2023	21,956
2022	55,782
2021	18,883
2020	0
2019	2,006
Prior	2,988
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	101,615		107,317
Current-period gross writeoffs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Real Estate Loans | Construction | Pass
Financing Receivable Impaired [Line Items]
2023	20,653
2022	54,145
2021	18,883
2020	0
2019	2,006
Prior	2,988
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	98,675		103,272
Real Estate Loans | Construction | Special Mention
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Construction | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Construction | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0		0
Real Estate Loans | Construction | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	1,303
2022	1,637
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	2,940		4,045
Other Loans | Commercial Loans
Financing Receivable Impaired [Line Items]
2023	3,402
2022	3,454
2021	512
2020	40
2019	87
Prior	159
Revolving loans amortized cost basis	817
Revolving loans converted to term loans	0
Total Loans	8,471		4,266
Current-period gross writeoffs
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Other Loans | Commercial Loans | Pass
Financing Receivable Impaired [Line Items]
2023	3,402
2022	3,454
2021	440
2020	40
2019	87
Prior	159
Revolving loans amortized cost basis	817
Revolving loans converted to term loans	0
Total Loans	8,399
Other Loans | Commercial Loans | Special Mention
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Commercial Loans | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Commercial Loans | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Commercial Loans | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	72
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	72
Other Loans | Consumer
Financing Receivable Impaired [Line Items]
2023	38
2022	40
2021	48
2020	0
2019	0
Prior	74
Revolving loans amortized cost basis	48
Revolving loans converted to term loans	0
Total Loans	248		$ 222
Current-period gross writeoffs
2023	1
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term	0
Total current-period gross writeoffs	0
Other Loans | Consumer | Pass
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Consumer | Special Mention
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Consumer | Substandard
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Consumer | Doubtful
Financing Receivable Impaired [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving loans amortized cost basis	0
Revolving loans converted to term loans	0
Total Loans	0
Other Loans | Consumer | Loans Not Formally Rated
Financing Receivable Impaired [Line Items]
2023	38
2022	40
2021	48
2020	0
2019	0
Prior	74
Revolving loans amortized cost basis	48
Revolving loans converted to term loans	0
Total Loans	$ 248

Loans, Allowance for Credit _12

Loans, Allowance for Credit Losses and Credit Quality - Summary of Loans by Risk Rating (Parenthetical) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Impaired [Line Items]
Loans on Non-accrual	$ 1,211,000	$ 656,000
Home Equity Lines of Credit and Loans | Loans Not Formally Rated
Financing Receivable, Impaired [Line Items]
Loans on Non-accrual	$ 16,000

Employee Benefits - Additional

Employee Benefits - Additional Information (Details)				3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 27, 2022 USD ($) shares	Jan. 01, 2018	Jan. 01, 2017	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Age shares	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) shares	May 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Eligible age of employee to participate in defined benefit plan | Age						21
Eligible year of service period for employee participation						1 year
Eligible year of service period for employee to become vested						6 years
Defined benefit plan liability related to withdrawal								$ 2,001,000		$ 1,419,000
Increase (decrease) in defined benefit plan				$ 0		$ 582,000
Defined contribution plan, employee incentive plan expense				$ 363,000	$ 355,000	$ 1,077,000	$ 918,000
Amount borrowed under ESOP	$ 7,300,000
Shares purchased under ESOP | shares	734,020			734,020		734,020			734,020
ESOP loan term	20 years
ESOP interest rate	4.75%
Total compensation expense				$ 114,000	215,000,000	$ 365,000	215,000,000
Director
Defined Benefit Plan Disclosure [Line Items]
Percentage of director fees				100%		100%
Percentage of vested deferred fees and interest				100%		100%
Deferred compensation liability				$ 658,000		$ 658,000			$ 592,000
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Liability related expense, to withdrawal				1,022,000		1,022,000			1,156,000
Defined benefit plan, pension expense				19,000	25,000	(58,000)	76,000
Director Fee Continuation Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, pension expense				22,000	32,000	66,000	96,000
Defined benefit plan, vesting percentage			100%
Supplemental Executive Retirement Agreement
Defined Benefit Plan Disclosure [Line Items]
Liability related expense, to withdrawal				3,170,000		3,170,000			$ 3,081,000
Defined benefit plan, pension expense				30,000	187,000	89,000	561,000
Defined benefit plan, employer matching contribution, percent of employees' compensation		60%
Defined benefit plan, vesting percentage		100%
Defined benefit plan vesting period		10 years
Executive Deferred Compensation Agreement
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution								10%
Deferred compensation plan				41,000	5,000	63,000	27,000
Survivor Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, pension expense				0	0	$ 0	166,000
Number of years of compensation						2 years
401(k) Plan
Defined Benefit Plan Disclosure [Line Items]
Minimum percentage of voluntary contributions by participating employees						1%
Maximum percentage of voluntary contributions by participating employees						75%
Defined contribution plan, employer matching contribution, percent of match						100%
Defined contribution plan, employer matching contribution, percent of employees' compensation						7%
Defined contribution plan, pension expense				$ 120,000	$ 100,000	$ 351,000	$ 280,000

Employee Benefits - Summary of

Employee Benefits - Summary of Share information held by the ESOP (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jul. 27, 2022
Defined Benefit Plan [Abstract]
Allocated shares	36,701	36,701
Shares committed to be released	27,451	0
Unallocated shares	669,868	697,319
Total shares	734,020	734,020	734,020
Fair value of unallocated shares	$ 7,353	$ 11,192

Stock-based compensation - Addi

Stock-based compensation - Additional Information (Details) - USD ($)		3 Months Ended		9 Months Ended
	Sep. 08, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 07, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		$ 20,000	$ 0	$ 20,000	$ 0
Related tax benefits recognized in earnings		6,000	$ 0	6,000	$ 0
Unrecognized stock-based compensation expense		1,635,000		1,635,000			$ 0
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted	174,960
Award vesting period	5 years
Stock-based compensation expense		10,000		10,000
Unrecognized stock-based compensation expense		$ 819,000		$ 819,000
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period	5 years
Granted restricted stock awards		69,984		69,984
Stock-based compensation expense		$ 10,000		$ 10,000
Unrecognized stock-based compensation expense		$ 816,000		$ 816,000
2023 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized						1,248,133
Shares available for grant		1,003,189		1,003,189
Non-Employee Directors Plan | Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted	174,960
Non-Employee Directors Plan | Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted restricted stock awards	69,984

Stock-based compensation - Sche

Stock-based compensation - Schedule of Stock Options Valuation Assumptions (Details) - Stock Options	Sep. 08, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted | shares	174,960
Vesting period (years)	5 years
Expiration date	Sep. 08, 2033
Expected volatility	30.17%
Expected term	6 years 6 months
Expected dividend yield	0%
Risk free rate of return	4.31%
Fair value per option | $ / shares	$ 4.74

Stock-based compensation - Summ

Stock-based compensation - Summary of Option Activity (Details) - $ / shares		3 Months Ended	9 Months Ended
	Sep. 08, 2023	Sep. 30, 2023	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted		174,960	174,960
Weighted-Average Exercise Price
Granted		$ 11.8	$ 11.8
Balance at end of period		$ 11.8	$ 11.8
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Granted		174,960	174,960
Balance at end of period		174,960	174,960
Weighted-Average Remaining Contractual Term (years)
Weighted-Average Contractual Term, Non-vested		9 years 11 months 12 days	9 years 11 months 12 days
Non-vested granted		9 years 11 months 12 days	9 years 11 months 12 days
Balance at ending of period		9 years 11 months 12 days	9 years 11 months 12 days
Stock Options
Weighted-Average Exercise Price, Non-vested
Granted	$ 4.74

Stock-based Compensation - Su_2

Stock-based Compensation - Summary of Non-vested Restricted Stock Award Activity (Details) - Restricted Stock Awards - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of period	0	0
Granted	69,984	69,984
Vested	0	0
Forfeited	0
Balance at end of period	69,984	69,984
Weighted-Average Grant Date Fair Value Per Share
Balance at beginning of period	$ 0	$ 0
Granted	11.8	11.8
Vested	0	0
Forfeited	0	0
Balance at end of period	$ 11.8	$ 11.8

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Compensation Expense and Income Tax Benefit Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 20	$ 0	$ 20	$ 0
Related tax benefits recognized in earnings	6	$ 0	6	$ 0
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	10		10
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 10		$ 10

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Compensation Cost Related to Non-vested Awards (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation cost related to non-vested awards not yet recognized	$ 1,635,000	$ 0
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation cost related to non-vested awards not yet recognized	$ 819,000
Weighted average period	4 years 11 months 12 days
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation cost related to non-vested awards not yet recognized	$ 816,000
Weighted average period	4 years 11 months 12 days

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	$ 5,006	$ 5,001
Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	5,006	5,001
Fair Value, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	5,006	5,001
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	0	0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets Level 1 | Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	0	0
Fair Value, Recurring | Significant Other Observable Inputs Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	5,006	5,001
Fair Value, Recurring | Significant Other Observable Inputs Level 2 | Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	5,006	5,001
Fair Value, Recurring | Significant Unobservable Inputs Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	0	0
Fair Value, Recurring | Significant Unobservable Inputs Level 3 | Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total available for-sale-securities	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis or Non-Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity securities	$ 65,844	$ 69,707
Carrying Amount
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	97,387	62,050
Interest bearing time deposits		300
Held-to-maturity securities	74,869	77,591
Federal Home Loan Bank stock	9,571	7,293
Loans, net	997,359	885,674
Accrued interest receivable	3,390	2,632
Bank-owned life insurance	14,367	14,067
Deposits, other than certificates of deposit	370,508	398,302
Certificates of deposit	442,023	319,847
Federal Home Loan Bank advances	224,000	174,000
Accrued interest payable	1,284	736
Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	97,387	62,050
Interest bearing time deposits		300
Held-to-maturity securities	65,844	69,707
Federal Home Loan Bank stock	9,571	7,293
Loans, net	915,147	841,271
Accrued interest receivable	3,390	2,632
Bank-owned life insurance	14,367	14,067
Deposits, other than certificates of deposit	370,508	398,302
Certificates of deposit	434,310	310,943
Federal Home Loan Bank advances	217,282	172,427
Accrued interest payable	1,284	736
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	97,387	62,050
Interest bearing time deposits		0
Held-to-maturity securities	0	0
Federal Home Loan Bank stock	0	0
Loans, net	0	0
Accrued interest receivable	3,390	2,632
Bank-owned life insurance	0	0
Deposits, other than certificates of deposit	0	0
Certificates of deposit	0	0
Federal Home Loan Bank advances	0	0
Accrued interest payable	1,284	736
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Interest bearing time deposits		300
Held-to-maturity securities	65,844	69,707
Federal Home Loan Bank stock	9,571	7,293
Loans, net	0	0
Accrued interest receivable	0	0
Bank-owned life insurance	14,367	14,067
Deposits, other than certificates of deposit	370,508	398,302
Certificates of deposit	434,310	310,943
Federal Home Loan Bank advances	217,282	172,427
Accrued interest payable	0	0
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Interest bearing time deposits		0
Held-to-maturity securities	0	0
Federal Home Loan Bank stock	0	0
Loans, net	915,147	841,271
Accrued interest receivable	0	0
Bank-owned life insurance	0	0
Deposits, other than certificates of deposit	0	0
Certificates of deposit	0	0
Federal Home Loan Bank advances	0	0
Accrued interest payable	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Maximum potential amount of bank obligation			$ 0		$ 13,000
Letter of credit outstanding term			1 year
Allowance for off balance sheet loan losses	$ 949,000		$ 949,000		$ 402,000
Provision (benefit) for off-balance sheet commitments	$ (6,000)	$ 61,000	$ (214,000)	$ 120,000

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Financial Instrument Liabilities Represent Off-Balance Sheet Credit Risk (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Off-balance-sheet, credit risk	$ 171,877	$ 196,541
Commitments To Originate Loans
Loss Contingencies [Line Items]
Off-balance-sheet, credit risk	32,696	37,220
Commitment To Purchase Loans
Loss Contingencies [Line Items]
Off-balance-sheet, credit risk	3,035	6,653
Unadvanced Funds On Lines Of Credit
Loss Contingencies [Line Items]
Off-balance-sheet, credit risk	79,871	80,224
Unadvanced Funds on Construction Loans
Loss Contingencies [Line Items]
Off-balance-sheet, credit risk	56,275	72,431
Letters of Credit
Loss Contingencies [Line Items]
Off-balance-sheet, credit risk	$ 0	$ 13

Other Comprehensive (Loss) In_3

Other Comprehensive (Loss) Income - Schedule of Components of Other Comprehensive (Loss) Income and Related Tax Effects (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity [Abstract]
Net unrealized holding (losses) gains on available-for-sale securities	$ (2)	$ 3	$ (4)	$ (24)
Net unrealized holding (losses) gains on available-for-sale securities, before tax	(2)	3	(4)	(24)
Income tax (expense) benefit		(1)	1	7
Net-of-tax amount	(2)	2	(3)	(17)
Other comprehensive (loss) income, net of tax	$ (2)	$ 2	$ (3)	$ (17)

Other Comprehensive (Loss) In_4

Other Comprehensive (Loss) Income - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Net unrealized holding gains on securities available-for-sale, net of tax	$ 6	$ 9
Accumulated other comprehensive income	246	249
Supplemental Executive Retirement Plan
Accumulated Other Comprehensive Income Loss [Line Items]
Unrecognized costs, net of tax	149	149
Director Fee Continuation Plan
Accumulated Other Comprehensive Income Loss [Line Items]
Unrecognized costs, net of tax	$ 91	$ 91

Regulatory Matters - Schedule o

Regulatory Matters - Schedule of Company's and Bank's Actual Capital Amounts and Ratios (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Regulated Operations [Abstract]
Total Capital (to Risk Weighted Assets), Actual Amount	$ 142,830	$ 138,023
Total Capital (to Risk Weighted Assets), Actual Ratio	0.164	0.164
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 91,443	$ 88,386
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.105	0.105
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 87,089	$ 84,177
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.10	0.10
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	$ 133,589	$ 130,421
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	0.1534	0.1549
Tier 1 Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 74,026	$ 71,550
Tier 1 Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.085	0.085
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 69,671	$ 67,342
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.08	0.08
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Amount	$ 133,589	$ 130,421
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	0.1534	0.1549
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 60,962	$ 58,924
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.07	0.07
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 56,608	$ 54,715
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.065	0.065
Tier 1 Capital (to Average Assets), Actual Amount	$ 133,589	$ 130,421
Tier 1 Capital (to Average Assets), Actual Ratio	0.1114	0.1389
Tier 1 Capital (to Average Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 47,955	$ 37,562
Tier 1 Capital (to Average Assets), Minimum For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.04	0.04
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 59,943	$ 46,953
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.05	0.05

Earnings per Share ("EPS") (Add

Earnings per Share ("EPS") (Additional Information) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities	0	0	0	0
Weighted average shares outstanding, basic	8,486,577	8,445,615	8,485,936	8,445,615
Weighted average shares outstanding, diluted	8,486,577	8,445,615	8,485,936	8,445,615
Restricted Stock Awards
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities	69,984		69,984
Options to Purchase
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities	174,960	0	174,960	0

Earnings per Share ("EPS") - Sc

Earnings per Share ("EPS") - Schedule of Earnings per share data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income (loss) allocated to common stock	$ 1,341	$ (1,035)	$ 3,667	$ 1,744
Weighted-average common shares outstanding used to calculate basic earnings (loss) per common share	8,486,577	8,445,615	8,485,936	8,445,615
Add: Dilutive effect of stock options and restricted stock awards	0	0	0	0
Weighted-average common shares outstanding used to calculate diluted earnings (loss) per common share	8,486,577	8,445,615	8,485,936	8,445,615
Earnings (loss) per common share
Basic	$ 0.16	$ (0.12)	$ 0.43	$ 0.21
Diluted	$ 0.16	$ (0.12)	$ 0.43	$ 0.21

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	9 Months Ended
	Oct. 31, 2023	Sep. 08, 2023	Sep. 30, 2023	Sep. 30, 2023
Subsequent Event [Line Items]
Granted stock options			174,960	174,960
Options were granted, Exercise price			$ 11.8	$ 11.8
Stock Options
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 4.74
Restricted Stock Awards
Subsequent Event [Line Items]
Granted restricted stock awards			69,984	69,984
Subsequent Event | 2023 Equity Incentive Plan | Stock Options
Subsequent Event [Line Items]
Granted stock options	589,009
Options were granted, Exercise price	$ 10.12
Subsequent Event | 2023 Equity Incentive Plan | Restricted Stock Awards
Subsequent Event [Line Items]
Granted restricted stock awards	235,973
Fair value of stock granted	$ 2.4