Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2025

Allowance for Credit Losses [Abstract]

Summary of Activity in Allowance for Credit Losses

The following tables detail the changes in the allowance for credit losses by loan segment for the years ended December 31, 2025 and 2024 as well as the related loan balances by individually evaluated and collectively evaluated as of December 31, 2025 and 2024.


		Real Estate Loans															Other Loans
		One- to Four-Family(1)					Home Equity					Commercial Real Estate (2)					Commercial					Consumer					Total
		(Dollars in thousands)
December 31, 2025
Allowance for Credit Loss on Loans
Balance - January 1, 2025		$		390			$		137			$		4,171			$		421			$		14			$		5,133
Charge-offs				—					—					—					—					(30	)				(30	)
Recoveries				4					—					—					—					4					8
Provision (credit)				327					(37	)				(255	)				(281	)				19					(227	)
Balance – December 31, 2025		$		721			$		100			$		3,916			$		140			$		7			$		4,884
Ending balance: individually evaluated		$		6			$		—			$		—			$		—			$		—			$		6
Ending balance: collectively evaluated		$		715			$		100			$		3,916			$		140			$		7			$		4,878

Gross Loans Receivable(3):
Ending balance		$		150,095			$		46,970			$		327,352			$		17,430			$		15,466			$		557,313
Ending balance: individually evaluated		$		1,493			$		62			$		89			$		—			$		—			$		1,644
Ending balance: collectively evaluated		$		148,602			$		46,908			$		327,263			$		17,430			$		15,466			$		555,669

(1)

There were no one- to four-family construction loans at December 31, 2025.

(2)

Includes commercial construction loans of $18.8 million.

(3)

Gross Loans Receivable does not include allowance for credit losses of $(4,884) or net deferred loan costs of $3,012.


		Real Estate Loans															Other Loans
		One- to Four-Family(1)					Home Equity					Commercial Real Estate (2)					Commercial					Consumer					Total
		(Dollars in thousands)
December 31, 2024
Allowance for Credit Loss on Loans
Balance- January 1, 2024		$		532			$		213			$		5,231			$		471			$		16			$		6,463
Charge-offs				—					—					—					—					(41	)				(41	)
Recoveries				10					—					—					—					9					19
(Credit) provision				(152	)				(76	)				(1,060	)				(50	)				30					(1,308	)
Balance – December 31, 2024		$		390			$		137			$		4,171			$		421			$		14			$		5,133
Ending balance: individually evaluated		$		—			$		—			$		—			$		—			$		—			$		—
Ending balance: collectively evaluated		$		390			$		137			$		4,171			$		421			$		14			$		5,133
Gross Loans Receivable(3):
Ending balance		$		161,331			$		47,456			$		320,984			$		15,728			$		991			$		546,490
Ending balance: individually evaluated		$		131			$		—			$		1,242			$		—			$		—			$		1,373
Ending balance: collectively evaluated		$		161,200			$		47,456			$		319,742			$		15,728			$		991			$		545,117

(1)

There were no one- to four-family construction loans at December 31, 2024.

(2)

Includes commercial construction loans of $18.9 million.

(3)

Gross Loans Receivable does not include allowance for credit losses of $(5,133) or net deferred loan costs of $3,263.

Schedule of Activity in Allowance for Credit Losses on Unfunded Loan Commitments

The Company’s activity in the allowance for credit losses on unfunded loan commitments for the years ended December 31, 2025 and 2024 was as follows:


	For the years ended December 31, 2024 and 2025
	(Dollars in thousands)
Balance at January 1, 2024	$		485
Provision for credit losses			(171	)
Balance at December 31, 2024			314
Provision for credit losses			47
Balance at December 31, 2025	$		361

Schedule of Non-accrual by Loan Segment

The following table presents the amortized cost basis of loans on non-accrual status and loans on non-accrual status with no allowance for credit losses recorded. The Company did not have any loans past due 90 days or more and still accruing at December 31, 2025 and 2024.


	Total Non-accrual										Non-accrual with no Allowance for Credit Losses
		December 31,					December 31,					December 31,					December 31,
		2025					2024					2025					2024
	(Dollars in thousands)
Real Estate Loans:
Residential, one- to four-family(1)	$		1,525			$		1,891			$		1,388			$		1,891
Home Equity			66					683					66					683
Commercial Real Estate (2)			89					1,226					89					1,226
Other Loans:
Commercial			—					—					—					—
Consumer			—					4					—					4
Total loans	$		1,680			$		3,804			$		1,543			$		3,804

(1)

Includes one- to four-family construction loans.

(2)

Includes commercial construction loans.

Analysis of Past Due Loans and Non-Accruing Loans

The following tables provide an analysis of past due loans as of the dates indicated:


		30-59 Days					60-89 Days					90 Days or More					Total Past						Current				Total Gross Loans
		Past Due					Past Due					Past Due					Due						Due				Receivable
		(Dollars in thousands)
December 31, 2025:
Real Estate Loans:
Residential, one- to four-family		$		788			$		27			$		674			$		1,489			$		148,606			$		150,095
Home equity				447					137					—					584					46,386					46,970
Commercial				—					—					89					89					327,263					327,352
Other Loans:
Commercial				—					—					—					—					17,430					17,430
Consumer				5					—					—					5					15,461					15,466
Total		$		1,240			$		164			$		763			$		2,167			$		555,146			$		557,313

		30-59 Days					60-89 Days					90 Days or More					Total Past						Current				Total Gross Loans
		Past Due					Past Due					Past Due					Due						Due				Receivable
		(Dollars in thousands)
December 31, 2024:
Real Estate Loans:
Residential, one- to four-family		$		1,035			$		454			$		662			$		2,151			$		159,180			$		161,331
Home equity				318					26					596					940					46,516					47,456
Commercial(1)				—					—					1,242					1,242					319,742					320,984
Other Loans:
Commercial				—					—					—					—					15,728					15,728
Consumer				3					2					—					5					986					991
Total		$		1,356			$		482			$		2,500			$		4,338			$		542,152			$		546,490

(1)

Includes commercial real estate construction loans.

Schedule of Amortized Cost of Collateral-Dependent Loans by Loan Segment

The following table presents an analysis of the amortized cost of collateral-dependent loans of the Company as of December 31, 2025 and 2024 by collateral type and loan segment:


		Residential				Business								Commercial								Total
		Real Estate				Assets				Land				Real Estate				Other				Loans
December 31, 2025:	(Dollars in thousands)
Real Estate Loans:
Residential, one- to four-family	$		1,525		$		—		$		—		$		—		$		—		$		1,525
Home Equity			66				—				—				—				—				66
Commercial			—				—				—				89				—				89
Total	$		1,591		$		—		$		—		$		89		$		—		$		1,680
December 31, 2024:
Real Estate Loans:
Residential, one- to four-family	$		134		$		—		$		—		$		—		$		—		$		134
Commercial			200				—				1,026				—				—				1,226
Total	$		334		$		—		$		1,026		$		—		$		—		$		1,360

Gross Loans by Credit Quality Indicator by Origination Year

The following tables present gross loans by credit quality indicator by origination year at December 31, 2025 and 2024 and gross charge-offs for the years then ended:


		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
December 31, 2025:		(Dollars in thousands)
Residential, one-to four-family(1):
Pass	$		4,434		$		5,068		$		10,308		$		30,091		$		24,701		$		73,327		$		—		$		147,929
Substandard			—				—				190				315				399				1,262				—				2,166
Doubtful			—				—				—				—				—				—				—				—
Total	$		4,434				5,068		$		10,498		$		30,406		$		25,100		$		74,589		$		—		$		150,095
Current period gross charge-offs	$		—				—		$		—		$		—		$		—		$		—		$		—		$		—

Home Equity(2):
Pass	$		627		$		28		$		2,007		$		1,721		$		58		$		352		$		41,698				46,491
Substandard			—				—				—				—				—				—				479				479
Doubtful			—				—				—				—				—				—				—				—
Total	$		627		$		28		$		2,007		$		1,721		$		58		$		352		$		42,177		$		46,970
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Commercial Real Estate(3):
Pass	$		34,815		$		36,156		$		19,119		$		76,565		$		37,655		$		113,836		$		2		$		318,148
Special mention			—				—				402				—				—				865				—				1,267
Substandard			—				—				—				—				—				7,937				—				7,937
Doubtful			—				—				—				—				—				—				—				—
Total	$		34,815		$		36,156		$		19,521		$		76,565		$		37,655		$		122,638		$		2		$		327,352
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Commercial Loans:
Pass	$		4,296		$		1,171		$		730		$		1,538		$		77		$		1,546		$		5,184		$		14,542
Special mention			—				—				—				—				63				—				—				63
Substandard			—				—				—				—				—				1,869				956				2,825
Doubtful			—				—				—				—				—				—				—				—
Total	$		4,296		$		1,171		$		730		$		1,538		$		140		$		3,415		$		6,140		$		17,430
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Consumer Loans:
Pass	$		14,857		$		131		$		45		$		50		$		—		$		169		$		213		$		15,465
Substandard			—				—				—				—				—				—				1				1
Doubtful			—				—				—				—				—				—				—				—
Total	$		14,857		$		131		$		45		$		50		$		—		$		169		$		214		$		15,466
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		30		$		30

(1)

There were no one- to four-family construction loans at December 31, 2025.

(2)

Home equity loans presented with an origination year represent home equity lines-of-credit which have been converted to term loans.

(3)

Includes commercial construction loans.


		2024				2023				2022				2021				2020				Prior				Revolving Loans				Total
December 31, 2024:		(Dollars in thousands)
Residential, one-to four-family(1):
Pass	$		5,554		$		11,684		$		33,058		$		26,594		$		16,272		$		66,081		$		—		$		159,243
Substandard			—				—				447				265				—				1,377				—				2,088
Doubtful			—				—				—				—				—				—				—				—
Total	$		5,554				11,684		$		33,504		$		26,859		$		16,272		$		67,458		$		—		$		161,331
Current period gross charge-offs	$		—				—		$		—		$		—		$		—		$		—		$		—		$		—

Home Equity(2):
Pass	$		102		$		2,712		$		2,297		$		76		$		34		$		574		$		40,899				46,694
Substandard			—				—				—				—				—				—				762				762
Doubtful			—				—				—				—				—				—				—				—
Total	$		102		$		2,712		$		2,297		$		76		$		34		$		574		$		41,661		$		47,456
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Commercial Real Estate(3):
Pass	$		33,959		$		17,498		$		84,218		$		41,871		$		33,021		$		97,472		$		644		$		308,683
Special mention			—				—				—				—				895				1,646				—				2,541
Substandard			—				—				—				—				1,242				8,517				—				9,759
Doubtful			—				—				—				—				—				—				—				—
Total	$		33,959		$		17,498		$		84,218		$		41,871		$		35,158		$		107,636		$		644		$		320,984
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Commercial Loans:
Pass	$		3,232		$		981		$		1,980		$		483		$		349		$		1,745		$		2,725		$		11,496
Special mention			—				—				—				165				—				146				782				1,093
Substandard			—				—				—				—				—				2,183				956				3,139
Doubtful			—				—				—				—				—				—				—				—
Total	$		3,232		$		981		$		1,980		$		648		$		349		$		4,074		$		4,463		$		15,728
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Consumer Loans:
Pass	$		258		$		118		$		138		$		35		$		98		$		115		$		223		$		986
Substandard			—				—				—				—				—				—				4				4
Doubtful			—				—				—				—				—				—				—				—
Total	$		258		$		118		$		138		$		35		$		98		$		115		$		228		$		991
Current period gross charge-offs	$		5		$		—		$		2		$		—		$		—		$		—		$		34		$		41

(1)

There were no one- to four-family construction loans at December 31, 2024.

(2)

Home equity loans presented with an origination year represent home equity lines-of-credit which have been converted to term loans.

(3)

Includes commercial construction loans.