Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2026

Loans and Allowance for Credit Losses [Abstract]

Schedule of Loan by Segment

Loans consisted of the following segments as of June 30, 2026 and December 31, 2025:


		June 30,					December 31,
		2026					2025
		(Dollars in thousands)
Real Estate Loans:
Residential, one- to four-family (1)	$		143,615			$		150,095
Home Equity			46,666					46,970
Commercial (2)			332,314					327,352
Total real estate loans			522,595					524,417
Other Loans:
Commercial			22,787					17,430
Consumer (3)			14,875					15,466
Total gross loans			560,257					557,313
Net deferred loan costs			2,807					3,012
Allowance for credit losses on loans			(4,747	)				(4,884	)
Loans receivable, net	$		558,317			$		555,441

(1)

There were no one- to four-family construction loans at June 30, 2026 or December 31, 2025.

(2)

Includes commercial construction loans of $21.1 million and $18.8 million at June 30, 2026 and December 31, 2025, respectively.

(3)

Includes overdraft protection of $32,000 and $24,000 at June 30, 2026 and December 31, 2025, respectively.

Summary of Activity in Allowance for Credit Losses

The following tables detail the changes in the allowance for credit losses by loan segment as well as the distribution of the allowance for credit losses and gross loans receivable by loan segment and allowance evaluation method at or for the three and six months ended June 30, 2026 and 2025.


		Real Estate Loans															Other Loans
		One- to Four-Family (1)					Home Equity					Commercial Real Estate (2)					Commercial					Consumer					Total
		(Dollars in thousands)
June 30, 2026
Allowance for Credit Loss on Loans
Balance – April 1, 2026		$		787			$		95			$		3,743			$		167			$		7			$		4,799
Charge-offs				—					—					—					—					(3	)				(3	)
Recoveries				—					—					—					—					2					2
(Credit) provision				(44	)				10					(35	)				18					—					(51	)
Balance – June 30, 2026		$		743			$		105			$		3,708			$		185			$		6			$		4,747
Balance - January 1, 2026		$		721			$		100			$		3,916			$		140			$		7			$		4,884
Charge-offs				—					—					—					—					(12	)				(12	)
Recoveries				—					—					—					—					3					3
Provision (credit)				22					5					(208	)				45					8					(128	)
Balance – June 30, 2026		$		743			$		105			$		3,708			$		185			$		6			$		4,747
Ending balance: individually evaluated		$		14			$		—			$		—			$		—			$		—			$		14
Ending balance: collectively evaluated		$		729			$		105			$		3,708			$		185			$		6			$		4,733

Gross Loans Receivable (3):
Ending balance		$		143,615			$		46,666			$		332,314			$		22,787			$		14,875			$		560,257
Ending balance: individually evaluated		$		1,265			$		53			$		82			$		—			$		—			$		1,400
Ending balance: collectively evaluated		$		142,350			$		46,613			$		332,232			$		22,787			$		14,875			$		558,857

(1)

There were no one-to four-family construction loans at June 30, 2026.

(2)

Includes commercial construction loans of $21.1 million at June 30, 2026.

(3)

Gross Loans Receivable does not include allowance for credit losses of $(4,747) or net deferred loan costs of $2,807.


		Real Estate Loans															Other Loans
		One- to Four-Family (1)					Home Equity					Commercial Real Estate (2)					Commercial					Consumer					Total
		(Dollars in thousands)
June 30, 2025
Allowance for Credit Loss on Loans
Balance – April 1, 2025		$		714			$		117			$		4,197			$		131			$		11			$		5,170
Charge-offs				—					—					—					—					(6	)				(6	)
Recoveries				—					—					—					—					—					—
Provision (credit)				20					(11	)				(30	)				16					5					—
Balance – June 30, 2025		$		734			$		106			$		4,167			$		147			$		10			$		5,164
Balance - January 1, 2025		$		390			$		137			$		4,171			$		421			$		14			$		5,133
Charge-offs				—					—					—					—					(13	)				(13	)
Recoveries				4					—					—					—					1					5
Provision (credit)				340					(31	)				(4	)				(274	)				8					39
Balance – June 30, 2025		$		734			$		106			$		4,167			$		147			$		10			$		5,164
Ending balance: individually evaluated		$		—			$		—			$		—			$		—			$		2			$		2
Ending balance: collectively evaluated		$		734			$		106			$		4,167			$		147			$		8			$		5,162

Gross Loans Receivable (3):
Ending balance		$		154,938			$		46,840			$		324,321			$		16,412			$		11,919			$		554,430
Ending balance: individually evaluated		$		1,531			$		109			$		94			$		—			$		2			$		1,736
Ending balance: collectively evaluated		$		153,407			$		46,731			$		324,227			$		16,412			$		11,917			$		552,694

(1)

There were no one-to four-family construction loans at June 30, 2025.

(2)

Includes commercial construction loans of $17.0 million at June 30, 2025.

(3)

Gross Loans Receivable does not include allowance for credit losses of $(5,164) or net deferred loan costs of $3,123.

The following table summarizes the distribution of the allowance for credit losses and loans receivable by loan segment and allowance evaluation method as of December 31, 2025:


		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 Losses on Loans
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 at December 31, 2025.

(3)

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

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 three and six months ended June 30, 2026 and the three and six months ended June 30, 2025 was as follows:


	For the six months ended June 30, 2026
	(Dollars in thousands)
Balance at December 31, 2025	$		361
Provision for credit losses			(36	)
Balance at March 31, 2026			325
Provision for credit losses			169
Balance at June 30, 2026	$		494

	For the six months ended June 30, 2025
	(Dollars in thousands)
Balance at December 31, 2024	$		314
Provision for credit losses			9
Balance at March 31, 2025			323
Provision for credit losses			—
Balance at June 30, 2025	$		323

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 June 30, 2026 and December 31, 2025.


	Total Non-accrual										Non-accrual with no Allowance for Credit Losses
		June 30,					December 31,					June 30,					December 31,
		2026					2025					2026					2025
	(Dollars in thousands)
Real Estate Loans:
Residential, one- to four-family (1)	$		1,291			$		1,525			$		1,093			$		1,388
Home Equity			57					66					57					66
Commercial Real Estate (2)			82					89					82					89
Other Loans:
Commercial			—					—					—					—
Consumer			—					—					—					—
Total loans	$		1,430			$		1,680			$		1,232			$		1,543

(1)

There were no non-accrual one- to four-family construction loans at June 30, 2026 or December 31, 2025.

(2)

There were no non-accrual commercial construction loans at June 30, 2026 or December 31, 2025.

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)
June 30, 2026:
Real Estate Loans:
Residential, one- to four-family (1)		$		1,020			$		123			$		481			$		1,624			$		141,991			$		143,615
Home equity				298					20					13					331					46,335					46,666
Commercial (2)				—					—					82					82					332,232					332,314
Other Loans:
Commercial				—					—					—					—					22,787					22,787
Consumer				60					—					—					60					14,815					14,875
Total		$		1,378			$		143			$		576			$		2,097			$		558,160			$		560,257

		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 (1)		$		788			$		27			$		674			$		1,489			$		148,606			$		150,095
Home equity				447					137					—					584					46,386					46,970
Commercial (2)				—					—					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

(1)

There were no past due one- to four-family construction loans at June 30, 2026 or December 31, 2025.

(2)

There were no past due commercial construction loans at June 30, 2026 or December 31, 2025.

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 June 30, 2026 and December 31, 2025 by collateral type and loan segment:


		Residential				Business								Commercial								Total
		Real Estate				Assets				Land				Real Estate				Other				Loans
June 30, 2026:	(Dollars in thousands)
Real Estate Loans:
Residential, one- to four-family	$		1,291		$		—		$		—		$		—		$		—		$		1,291
Home Equity			57				—				—				—				—				57
Commercial			—				—				—				82				—				82
Total	$		1,348		$		—		$		—		$		82		$		—		$		1,430
December 31, 2025:
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

Gross Loans by Credit Quality Indicator by Origination Year

The following table presents gross loans by credit quality indicator by origination year at June 30, 2026 as well as gross charge-offs by year of origination for the six months ended June 30, 2026:


		2026				2025				2024				2023				2022				Prior				Revolving Loans				Total
June 30, 2026:		(Dollars in thousands)
Residential, one-to four-family (1):
Pass	$		1,241		$		3,875		$		4,742		$		9,909		$		28,886		$		93,012		$		—		$		141,665
Substandard			—				—				—				190				118				1,642				—				1,950
Doubtful			—				—				—				—				—				—				—				—
Total	$		1,241				3,875		$		4,742		$		10,099		$		29,004		$		94,654		$		—		$		143,615
Current period gross charge-offs	$		—				—		$		—		$		—		$		—		$		—		$		—		$		—

Home Equity (2):
Pass	$		161		$		600		$		25		$		1,791		$		1,487		$		344		$		41,726				46,134
Substandard			—				—				—				—				—				—				532				532
Doubtful			—				—				—				—				—				—				—				—
Total	$		161		$		600		$		25		$		1,791		$		1,487		$		344		$		42,258		$		46,666
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Commercial Real Estate (3):
Pass	$		26,971		$		35,085		$		37,073		$		19,082		$		74,880		$		129,939		$		293		$		323,323
Special mention			—				—				—				397				—				849				—				1,246
Substandard			—				—				—				—				—				7,745				—				7,745
Doubtful			—				—				—				—				—				—				—				—
Total	$		26,971		$		35,085		$		37,073		$		19,479		$		74,880		$		138,533		$		293		$		332,314
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Commercial Loans:
Pass	$		883		$		3,947		$		1,031		$		618		$		1,288		$		1,303		$		11,046		$		20,116
Special mention			—				—				—				—				—				10				—				10
Substandard			—				—				—				—				—				1,705				956				2,661
Doubtful			—				—				—				—				—				—				—				—
Total	$		883		$		3,947		$		1,031		$		618		$		1,288		$		3,018		$		12,002		$		22,787
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		—		$		—

Consumer Loans:
Pass	$		1,175		$		13,173		$		81		$		26		$		35		$		166		$		219		$		14,875
Substandard			—				—				—				—				—				—				—				—
Doubtful			—				—				—				—				—				—				—				—
Total	$		1,175		$		13,173		$		81		$		26		$		35		$		166		$		219		$		14,875
Current period gross charge-offs	$		—		$		—		$		—		$		—		$		—		$		—		$		12		$		12

(1)

There were no one- to four-family construction loans at June 30, 2026.

(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 at June 30, 2026.

The following table presents gross loans by credit quality indicator by origination year at December 31, 2025 as well as gross charge-offs by year of origination for the year ended December 31, 2025:


		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 at December 31, 2025.