Loans Receivable and Allowance for Credit Losses (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Loans Receivable and Allowance for Credit Losses |
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| Schedule of loans receivable |
| | | | | | | (in thousands) | | 2026 | | 2025 | Real Estate Loans | | | | | | | One-to-Four Family Mortgages | | $ | 321,327 | | $ | 325,774 | Home Equity Lines of Credit | | | 10,494 | | | 10,091 | Construction and Land | | | 22,624 | | | 12,538 | Commercial Real Estate | | | 16,079 | | | 10,547 | Total | | | 370,524 | | | 358,950 | | | | | | | | Other Loans | | | | | | | Commercial and Industrial | | | 16,931 | | | 14,227 | Consumer | | | 6,872 | | | 4,189 | | | | | | | | Total Loans Receivable | | | 394,327 | | | 377,366 | | | | | | | | Allowance for Credit Losses | | | (1,699) | | | (1,699) | Net Deferred Loan Costs | | | 729 | | | 724 | | | | | | | | Total Loans Receivable, Net | | $ | 393,357 | | $ | 376,391 |
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| Schedule of analysis of past-due loans |
| | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | | | | | | | | Loans 90 Days or | | | | | | | | | | | | 30-59 Days | | 60-89 Days | | More Past Due and | | Nonaccrual | | Current | | Total Loans | (in thousands) | | Past Due | | Past Due | | Still Accruing | | Loans | | Loans | | Receivable | Real Estate Loans | | | | | | | | | | | | | | | | | | | One-to-Four Family Mortgages | | $ | 3,959 | | $ | 1,205 | | $ | — | | $ | 313 | | $ | 315,850 | | $ | 321,327 | Home Equity Lines of Credit | | | 77 | | | 16 | | | — | | | 30 | | | 10,371 | | | 10,494 | Construction and Land | | | 128 | | | — | | | — | | | — | | | 22,496 | | | 22,624 | Commercial Real Estate | | | — | | | — | | | — | | | — | | | 16,079 | | | 16,079 | Total | | | 4,164 | | | 1,221 | | | — | | | 343 | | | 364,796 | | | 370,524 | | | | | | | | | | | | | | | | | | | | Commercial and Industrial | | | 84 | | | — | | | — | | | — | | | 16,847 | | | 16,931 | Consumer | | | — | | | — | | | — | | | — | | | 6,872 | | | 6,872 | | | | | | | | | | | | | | | | | | | | Total Loans Receivable | | $ | 4,248 | | $ | 1,221 | | $ | — | | $ | 343 | | $ | 388,515 | | $ | 394,327 |
| | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | Loans 90 Days or | | | | | | | | | | | | 30-59 Days | | 60-89 Days | | More Past Due and | | Nonaccrual | | Current | | Total Loans | (in thousands) | | Past Due | | Past Due | | Still Accruing | | Loans | | Loans | | Receivable | Real Estate Loans | | | | | | | | | | | | | | | | | | | One-to-Four Family Mortgages | | $ | 2,933 | | $ | 1,194 | | $ | — | | $ | 544 | | $ | 321,103 | | $ | 325,774 | Home Equity Lines of Credit | | | 72 | | | — | | | — | | | — | | | 10,019 | | | 10,091 | Construction and Land | | | 130 | | | — | | | — | | | — | | | 12,408 | | | 12,538 | Commercial Real Estate | | | — | | | — | | | — | | | — | | | 10,547 | | | 10,547 | Total | | | 3,135 | | | 1,194 | | | — | | | 544 | | | 354,077 | | | 358,950 | | | | | | | | | | | | | | | | | | | | Commercial and Industrial | | | — | | | — | | | — | | | — | | | 14,227 | | | 14,227 | Consumer | | | — | | | — | | | — | | | — | | | 4,189 | | | 4,189 | | | | | | | | | | | | | | | | | | | | Total Loans Receivable | | $ | 3,135 | | $ | 1,194 | | $ | — | | $ | 544 | | $ | 372,493 | | $ | 377,366 |
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| Schedule of recorded investment in loans by credit quality indicator by year of origination |
The following table presents the Company’s recorded investment in loans by credit quality indicator by year of origination as of June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans by Year of Origination | | | | | | | (in thousands | | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Revolving | | Total | One-to-Four Family Mortgages | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 3,873 | | $ | 7,431 | | $ | 19,583 | | $ | 21,888 | | $ | 36,701 | | $ | 228,979 | | $ | — | | $ | 318,455 | Special Mention | | | — | | | — | | | — | | | — | | | 389 | | | 1,465 | | | — | | | 1,854 | Substandard | | | — | | | — | | | — | | | — | | | — | | | 1,018 | | | — | | | 1,018 | Total One-to-Four Family Mortgages | | $ | 3,873 | | $ | 7,431 | | $ | 19,583 | | $ | 21,888 | | $ | 37,090 | | $ | 231,462 | | $ | — | | $ | 321,327 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Home Equity Lines of Credit | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | — | | $ | 78 | | $ | 603 | | $ | — | | $ | 9 | | $ | 378 | | $ | 9,340 | | $ | 10,408 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | 56 | | | 56 | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | 30 | | | 30 | Total Home Equity Lines of Credit | | $ | — | | $ | 78 | | $ | 603 | | $ | — | | $ | 9 | | $ | 378 | | $ | 9,426 | | $ | 10,494 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Construction and Land | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 6,558 | | $ | 15,374 | | $ | 9 | | $ | 128 | | $ | 35 | | $ | 520 | | $ | — | | $ | 22,624 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Construction and Land | | $ | 6,558 | | $ | 15,374 | | $ | 9 | | $ | 128 | | $ | 35 | | $ | 520 | | $ | — | | $ | 22,624 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial Real Estate | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 6,251 | | $ | 7,341 | | $ | 1,954 | | $ | — | | $ | 453 | | $ | 80 | | $ | — | | $ | 16,079 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Commercial Real Estate | | $ | 6,251 | | $ | 7,341 | | $ | 1,954 | | $ | — | | $ | 453 | | $ | 80 | | $ | — | | $ | 16,079 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and Industrial | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 4,116 | | $ | 3,950 | | $ | 3,765 | | $ | 3,264 | | $ | 1,836 | | $ | — | | $ | — | | $ | 16,931 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Commercial and Industrial | | $ | 4,116 | | $ | 3,950 | | $ | 3,765 | | $ | 3,264 | | $ | 1,836 | | $ | — | | $ | — | | $ | 16,931 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 3,168 | | $ | 1,212 | | $ | 2,006 | | $ | 218 | | $ | 22 | | $ | 246 | | $ | — | | $ | 6,872 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Consumer | | $ | 3,168 | | $ | 1,212 | | $ | 2,006 | | $ | 218 | | $ | 22 | | $ | 246 | | $ | — | | $ | 6,872 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
The following table presents the Company’s recorded investment in loans by credit quality indicator as of December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans by Year of Origination | | | | | | | (in thousands) | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving | | Total | One-to-Four Family Mortgages | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 4,364 | | $ | 19,886 | | $ | 22,644 | | $ | 38,297 | | $ | 51,438 | | $ | 185,963 | | $ | — | | $ | 322,592 | Special Mention | | | — | | | — | | | — | | | 393 | | | 467 | | | 1,071 | | | — | | | 1,931 | Substandard | | | — | | | — | | | — | | | — | | | 742 | | | 509 | | | — | | | 1,251 | Total One-to-Four Family Mortgages | | $ | 4,364 | | $ | 19,886 | | $ | 22,644 | | $ | 38,690 | | $ | 52,647 | | $ | 187,543 | | $ | — | | $ | 325,774 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Home Equity Lines of Credit | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 437 | | $ | 603 | | $ | 65 | | $ | 11 | | $ | — | | $ | 494 | | $ | 8,406 | | $ | 10,016 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | 75 | | | 75 | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Home Equity Lines of Credit | | $ | 437 | | $ | 603 | | $ | 65 | | $ | 11 | | $ | — | | $ | 494 | | $ | 8,481 | | $ | 10,091 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Construction and Land | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 11,372 | | $ | 412 | | $ | 131 | | $ | 56 | | $ | 357 | | $ | 210 | | $ | — | | $ | 12,538 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Construction and Land | | $ | 11,372 | | $ | 412 | | $ | 131 | | $ | 56 | | $ | 357 | | $ | 210 | | $ | — | | $ | 12,538 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial Real Estate | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 8,110 | | $ | 1,884 | | $ | — | | $ | 467 | | $ | — | | $ | 86 | | $ | — | | $ | 10,547 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Commercial Real Estate | | $ | 8,110 | | $ | 1,884 | | $ | — | | $ | 467 | | $ | — | | $ | 86 | | $ | — | | $ | 10,547 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and Industrial | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 4,025 | | $ | 4,370 | | $ | 3,615 | | $ | 2,217 | | $ | — | | $ | — | | $ | — | | $ | 14,227 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Commercial and Industrial | | $ | 4,025 | | $ | 4,370 | | $ | 3,615 | | $ | 2,217 | | $ | — | | $ | — | | $ | — | | $ | 14,227 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 1,330 | | $ | 2,388 | | $ | 166 | | $ | 25 | | $ | 31 | | $ | 249 | | $ | — | | $ | 4,189 | Special Mention | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Substandard | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Total Consumer | | $ | 1,330 | | $ | 2,388 | | $ | 166 | | $ | 25 | | $ | 31 | | $ | 249 | | $ | — | | $ | 4,189 | | | | | | | | | | | | | | | | | | | | | | | | | | Current Period Gross Write-Offs | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
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| Schedule of nonaccrual loans by major categories |
| | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | | Nonaccrual | | Nonaccrual | | | | Nonaccrual | | Nonaccrual | | Total | | | | Loans | | Loans | | | | | Loans | | Loans | | | | | | | with | | with | | Total | | with | | with | | | | | | | No | | an | | Nonaccrual | | No | | an | | Nonaccrual | | (in thousands) | | Allowance | | Allowance | | Loans | | Allowance | | Allowance | | Loans | | One-to-Four Family Mortgages | | $ | 313 | | $ | — | | $ | 313 | | $ | 544 | | $ | — | | $ | 544 | | Home Equity Lines of Credit | | | 30 | | | — | | | 30 | | | — | | | — | | | — | | Construction and Land | | | — | | | — | | | — | | | — | | | — | | | — | | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | | | — | | Commercial and Industrial | | | — | | | — | | | — | | | — | | | — | | | — | | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 343 | | $ | — | | $ | 343 | | $ | 544 | | $ | — | | $ | 544 | |
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| Schedule of accrued interest receivables written off by reversing interest income |
| | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | | One-to-Four Family Mortgages | | $ | 6 | | | 11 | | $ | 6 | | $ | 21 | | Home Equity Lines of Credit | | | — | | | — | | | 1 | | | — | | Construction and Land | | | — | | | — | | | — | | | — | | Commercial Real Estate | | | — | | | — | | | — | | | — | | Commercial and Industrial | | | — | | | — | | | — | | | — | | Consumer | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | Total | | $ | 6 | | $ | 11 | | $ | 7 | | $ | 21 | |
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| Schedule of analysis of collateral-dependent loans |
| | | | | | | | | | | | | | | | | | June 30, 2026 | | | Residential | | | | | Business | | | | | | | (in thousands) | | Properties | | Land | | Assets | | Other | | Total | One-to-Four Family Mortgages | | $ | 1,018 | | $ | — | | $ | — | | $ | — | | $ | 1,018 | Home Equity Lines of Credit | | | 30 | | | — | | | — | | | — | | | 30 | Construction and Land | | | — | | | — | | | — | | | — | | | — | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | Commercial and Industrial | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | Total | | $ | 1,048 | | $ | — | | $ | — | | $ | — | | $ | 1,048 |
| | | | | | | | | | | | | | | | | | December 31, 2025 | | | Residential | | | | | Business | | | | | | | (in thousands) | | Properties | | Land | | Assets | | Other | | Total | One-to-Four Family Mortgages | | $ | 1,251 | | $ | — | | $ | — | | $ | — | | $ | 1,251 | Home Equity Lines of Credit | | | — | | | — | | | — | | | — | | | — | Construction and Land | | | — | | | — | | | — | | | — | | | — | Commercial Real Estate | | | — | | | — | | | — | | | — | | | — | Commercial and Industrial | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | Total | | $ | 1,251 | | $ | — | | $ | — | | $ | — | | $ | 1,251 |
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| Schedule of activity related to the allowance for credit losses |
The following table summarizes the activity related to the allowance for credit losses for the three and six months ended June 30, 2026 and 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | One-to-Four | | Home Equity | | | | | | | | | | | | | | | | | | | | | Family | | Lines of | | Construction | | Commercial | | Commercial | | | | | | | | | Three Months Ended June 30, 2026 | | Mortgages | | Credit | | and Land | | Real Estate | | and Industrial | | Consumer | | Unallocated | | Total | Allowance for Credit Losses | | | | | | | | | | | | | | | | | | | | | | | | | Beginning Balance | | $ | 1,256 | | | 36 | | | 18 | | | 17 | | | 136 | | | — | | | 236 | | $ | 1,699 | Net Provision for Credit Loss | | | 218 | | | 4 | | | 26 | | | 31 | | | (40) | | | — | | | (239) | | | — | Loans Charged-Off | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries Collected | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | Ending Balance | | $ | 1,474 | | $ | 40 | | $ | 44 | | $ | 48 | | $ | 96 | | $ | — | | $ | (3) | | $ | 1,699 | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | Allowance for Credit Losses | | | | | | | | | | | | | | | | | | | | | | | | | Beginning Balance | | $ | 1,441 | | | 43 | | | 26 | | | — | | | 43 | | | 27 | | | 119 | | $ | 1,699 | Net Provision for Credit Loss | | | (173) | | | 1 | | | — | | | — | | | (10) | | | (27) | | | 209 | | | — | Loans Charged-Off | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries Collected | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | Ending Balance | | $ | 1,268 | | $ | 44 | | $ | 26 | | $ | — | | $ | 33 | | $ | — | | $ | 328 | | $ | 1,699 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | One-to-Four | | Home Equity | | | | | | | | | | | | | | | | | | | | | Family | | Lines of | | Construction | | Commercial | | Commercial | | | | | | | | | Six Months Ended June 30, 2026 | | Mortgages | | Credit | | and Land | | Real Estate | | and Industrial | | Consumer | | Unallocated | | Total | Allowance for Credit Losses | | | | | | | | | | | | | | | | | | | | | | | | | Beginning Balance | | $ | 1,202 | | | 42 | | | 22 | | | 32 | | | 34 | | | — | | | 367 | | $ | 1,699 | Net Provision for Credit Loss | | | 272 | | | (2) | | | 22 | | | 16 | | | 62 | | | — | | | (370) | | | — | Loans Charged-Off | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries Collected | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | Ending Balance | | $ | 1,474 | | $ | 40 | | $ | 44 | | $ | 48 | | $ | 96 | | $ | — | | $ | (3) | | $ | 1,699 | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | Allowance for Credit Losses | | | | | | | | | | | | | | | | | | | | | | | | | Beginning Balance | | $ | 1,526 | | $ | 45 | | $ | 13 | | $ | — | | $ | 80 | | $ | 28 | | $ | 7 | | $ | 1,699 | Net Provision for Credit Loss | | | (258) | | | (1) | | | 13 | | | — | | | (47) | | | (28) | | | 321 | | | — | Loans Charged-Off | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Recoveries Collected | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | Ending Balance | | $ | 1,268 | | $ | 44 | | $ | 26 | | $ | — | | $ | 33 | | $ | — | | $ | 328 | | $ | 1,699 | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Schedule of related party loans |
| | | | | | | | | | June 30, | | (in thousands) | | 2026 | | 2025 | | Balance, Beginning of Period | | $ | 486 | | $ | 511 | | New Loans | | | — | | | — | | Change in Related Parties, Net | | | — | | | — | | Repayments, Net | | | (9) | | | (16) | | | | | | | | | | Balance, End of Period | | $ | 477 | | $ | 495 | |
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