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Loans Receivable and Allowance for Credit Losses | 6 Months Ended
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Jun. 30, 2025
Loans Receivable and Allowance for Credit Losses |
Loans Receivable and Allowance for Credit Losses |
Note 4. | Loans Receivable and Allowance for Credit Losses
Loans receivable at June 30, 2025, and December 31, 2024 are summarized as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2025 |  | 2024
One-to-Four Family Mortgages | ​ | $ | 334,322 | ​ | $ | 332,659
Home Equity Lines of Credit | ​ |  | 9,833 | ​ |  | 7,952
Construction Loans | ​ |  | 14,711 | ​ |  | 9,588
Consumer Loans | ​ |  | 3,968 | ​ |  | 3,699
Commercial Loans | ​ |  | 17,738 | ​ |  | 14,355
​ | ​ | ​ | ​ | ​ | ​ | ​
Total Loans Receivable | ​ |  | 380,572 | ​ |  | 368,253
​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ |  | (1,699) | ​ |  | (1,699)
Net Deferred Loan Costs | ​ |  | 734 | ​ |  | 779
​ | ​ | ​ | ​ | ​ | ​ | ​
Total Loans Receivable, Net | ​ | $ | 379,607 | ​ | $ | 367,333
​ The following tables present an analysis of past-due loans as of June 30, 2025, and December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 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
One-to-Four Family Mortgages | ​ | $ | 5,505 | ​ | $ | 168 | ​ | $ | — | ​ | $ | 1,268 | ​ | $ | 327,381 | ​ | $ | 334,322
Home Equity Lines of Credit | ​ |  | 56 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 9,777 | ​ |  | 9,833
Construction Loans | ​ |  | 133 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 14,578 | ​ |  | 14,711
Consumer Loans | ​ |  | 59 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 3,909 | ​ |  | 3,968
Commercial Loans | ​ |  | 798 | ​ |  | — | ​ |  | 33 | ​ |  | — | ​ |  | 16,907 | ​ |  | 17,738
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 6,551 | ​ | $ | 168 | ​ | $ | 33 | ​ | $ | 1,268 | ​ | $ | 372,552 | ​ | $ | 380,572
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 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
One-to-Four Family Mortgages | ​ | $ | 2,925 | ​ | $ | 1,011 | ​ | $ | — | ​ | $ | 956 | ​ | $ | 327,767 | ​ | $ | 332,659
Home Equity Lines of Credit | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 7,952 | ​ |  | 7,952
Construction Loans | ​ |  | 332 | ​ |  | — | ​ |  | — | ​ |  | 119 | ​ |  | 9,137 | ​ |  | 9,588
Consumer Loans | ​ |  | 91 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 3,608 | ​ |  | 3,699
Commercial Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 14,355 | ​ |  | 14,355
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 3,348 | ​ | $ | 1,011 | ​ | $ | — | ​ | $ | 1,075 | ​ | $ | 362,819 | ​ | $ | 368,253
​ Credit Quality Indicators The Company uses the following criteria to assess risk ratings with respect to its loan portfolio, which are consistent with regulatory guidelines: Pass - Loans that comply in all material respects with the loan policies that are adequately secured with conforming collateral and that are extended to borrowers with documented ability to safely cover their total debt service requirements. Special Mention - Includes loans that do not warrant adverse classification but do possess credit deficiencies or potential weaknesses that deserve close attention. Substandard - Includes loans that are inadequately protected by the collateral pledged or the current net worth and paying capacity of the borrower. Such loans have one or more weaknesses that jeopardize the liquidation of the debt and expose the Company to loss if the weaknesses are not corrected. The Company’s credit quality indicators are reviewed and updated annually. The following table presents the Company’s recorded investment in loans by credit quality indicator by year of origination as of June 30, 2025:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Term Loans by Year of Origination | ​ | ​ | ​ | ​ | ​ | ​
(in thousands | ​ | 2025 | ​ | 2024 | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | Prior | ​ | Revolving | ​ | Total
One-to-Four Family Mortgages | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass |  | $ | 7,345 |  | $ | 13,833 |  | $ | 23,073 |  | $ | 39,493 |  | $ | 53,588 |  | $ | 193,428 |  | $ | — |  | $ | 330,760
Special Mention | ​ |  | — | ​ |  | — | ​ | ​ | — | ​ |  | 465 | ​ |  | 827 | ​ |  | 1,355 | ​ |  | — | ​ |  | 2,647
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 400 | ​ |  | 515 | ​ |  | — | ​ |  | 915
Total One-to-Four Family Mortgages | ​ | $ | 7,345 | ​ | $ | 13,833 | ​ | $ | 23,073 | ​ | $ | 39,958 | ​ | $ | 54,815 | ​ | $ | 195,298 | ​ | $ | — | ​ | $ | 334,322
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Home Equity Lines of Credit | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 856 | ​ | $ | 548 | ​ | $ | 66 | ​ | $ | 78 | ​ | $ | — | ​ | $ | 560 | ​ | $ | 7,649 | ​ | $ | 9,757
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 76 | ​ |  | 76
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Home Equity Lines of Credit | ​ | $ | 856 | ​ | $ | 548 | ​ | $ | 66 | ​ | $ | 78 | ​ | $ | — | ​ | $ | 560 | ​ | $ | 7,725 | ​ | $ | 9,833
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction Loans | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 5,981 | ​ | $ | 7,914 | ​ | $ | 170 | ​ | $ | 59 | ​ | $ | 365 | ​ | $ | 222 | ​ | $ | — | ​ | $ | 14,711
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Construction Loans | ​ | $ | 5,981 | ​ | $ | 7,914 | ​ | $ | 170 | ​ | $ | 59 | ​ | $ | 365 | ​ | $ | 222 | ​ | $ | — | ​ | $ | 14,711
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer Loans | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 777 | ​ | $ | 2,594 | ​ | $ | 215 | ​ | $ | 34 | ​ | $ | 33 | ​ | $ | 315 | ​ | $ | — | ​ | $ | 3,968
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Consumer Loans | ​ | $ | 777 | ​ | $ | 2,594 | ​ | $ | 215 | ​ | $ | 34 | ​ | $ | 33 | ​ | $ | 315 | ​ | $ | — | ​ | $ | 3,968
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial Loans | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 4,604 | ​ | $ | 4,596 | ​ | $ | 5,499 | ​ | $ | 2,946 | ​ | $ | — | ​ | $ | 93 | ​ | $ | — | ​ | $ | 17,738
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Commercial Loans | ​ | $ | 4,604 | ​ | $ | 4,596 | ​ | $ | 5,499 | ​ | $ | 2,946 | ​ | $ | — | ​ | $ | 93 | ​ | $ | — | ​ | $ | 17,738
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ ​ The following table presents the Company’s recorded investment in loans by credit quality indicator as of December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Term Loans by Year of Origination | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | 2024 | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | Prior | ​ | Revolving | ​ | Total
One-to-Four Family Mortgages | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass |  | $ | 10,209 |  | $ | 22,131 |  | $ | 39,963 |  | $ | 55,912 |  | $ | 46,651 |  | $ | 152,989 |  | $ | — |  | $ | 327,855
Special Mention | ​ |  | — | ​ |  | — | ​ |  | 778 | ​ |  | 836 | ​ |  | 357 | ​ |  | 1,877 | ​ |  | — | ​ |  | 3,848
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 406 | ​ |  | — | ​ |  | 550 | ​ |  | — | ​ |  | 956
Total One-to-Four Family Mortgages | ​ | $ | 10,209 | ​ | $ | 22,131 | ​ | $ | 40,741 | ​ | $ | 57,154 | ​ | $ | 47,008 | ​ | $ | 155,416 | ​ | $ | — | ​ | $ | 332,659
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Home Equity Lines of Credit | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 378 | ​ | $ | 66 | ​ | $ | 82 | ​ | $ | — | ​ | $ | — | ​ | $ | 531 | ​ | $ | 6,819 | ​ | $ | 7,876
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 76 | ​ |  | 76
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Home Equity Lines of Credit | ​ | $ | 378 | ​ | $ | 66 | ​ | $ | 82 | ​ | $ | — | ​ | $ | — | ​ | $ | 531 | ​ | $ | 6,895 | ​ | $ | 7,952
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 3 | ​ | $ | 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction Loans | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 7,385 | ​ | $ | 1,360 | ​ | $ | 62 | ​ | $ | 400 | ​ | $ | 113 | ​ | $ | 149 | ​ | $ | — | ​ | $ | 9,469
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Substandard | ​ |  | — | ​ |  | — | ​ |  | 119 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 119
Total Construction Loans | ​ | $ | 7,385 | ​ | $ | 1,360 | ​ | $ | 181 | ​ | $ | 400 | ​ | $ | 113 | ​ | $ | 149 | ​ | $ | — | ​ | $ | 9,588
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer Loans | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 3,002 | ​ | $ | 236 | ​ | $ | 55 | ​ | $ | 35 | ​ | $ | 71 | ​ | $ | 300 | ​ | $ | — | ​ | $ | 3,699
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Consumer Loans | ​ | $ | 3,002 | ​ | $ | 236 | ​ | $ | 55 | ​ | $ | 35 | ​ | $ | 71 | ​ | $ | 300 | ​ | $ | — | ​ | $ | 3,699
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial Loans | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Pass | ​ | $ | 5,119 | ​ | $ | 6,004 | ​ | $ | 3,133 | ​ | $ | — | ​ | $ | — | ​ | $ | 99 | ​ | $ | — | ​ | $ | 14,355
Special Mention | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Substandard | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total Commercial Loans | ​ | $ | 5,119 | ​ | $ | 6,004 | ​ | $ | 3,133 | ​ | $ | — | ​ | $ | — | ​ | $ | 99 | ​ | $ | — | ​ | $ | 14,355
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current Period Gross Write-Offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ ​ Nonaccrual Loans The following table is a summary of the Company’s nonaccrual loans by major categories for the period indicated:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025 |  | December 31, 2024 | ​
​ | ​ | 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 | ​ | $ | 1,268 | ​ | $ | — | ​ | $ | 1,268 | ​ | $ | 956 | ​ | $ | — | ​ | $ | 956 | ​
Home Equity Lines of Credit | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Construction Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 119 | ​ |  | — | ​ |  | 119 | ​
Consumer Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Commercial Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 1,268 | ​ | $ | — | ​ | $ | 1,268 | ​ | $ | 1,075 | ​ | $ | — | ​ | $ | 1,075 | ​
​ Interest accrued but not received for loans placed on nonaccrual status is reversed against interest income. Payments received while on nonaccrual status are applied to the principal balance of nonaccrual loans. The Company does not recognize interest income while loans are on nonaccrual status. The following table represents the accrued interest receivables written off by reversing interest income during the three and six months ended June 30, 2025 and 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30, |
(in thousands) | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024 | ​
One-to-Four Family Mortgages | ​ | $ | 11 | ​ | $ | 4 | ​ | $ | 21 | ​ | $ | 4 | ​
Home Equity Lines of Credit | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Construction Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Consumer Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Commercial Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 11 | ​ | $ | 4 | ​ | $ | 21 | ​ | $ | 4 | ​
​ Collateral-Dependent Loans The Company designates individually evaluated loans on nonaccrual status as collateral-dependent loans, as well as other loans that management of the Company designates as having higher risk. Collateral-dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses. For collateral-dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The following table presents an analysis of collateral-dependent loans of the Company as of June 30, 2025 and December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025
​ | ​ | Residential | ​ | ​ | ​ | ​ | Business | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Properties |  | Land |  | Assets |  | Other |  | Total
One-to-Four Family Mortgages | ​ | $ | 1,268 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,268
Home Equity Lines of Credit | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Construction Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Consumer Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Commercial Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 1,268 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,268
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ | ​ | Residential | ​ | ​ | ​ | ​ | Business | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Properties |  | Land |  | Assets |  | Other |  | Total
One-to-Four Family Mortgages | ​ | $ | 956 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 956
Home Equity Lines of Credit | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Construction Loans | ​ |  | — | ​ |  | 119 | ​ |  | — | ​ |  | — | ​ |  | 119
Consumer Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Commercial Loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 956 | ​ | $ | 119 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,075
​ 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, 2025 and 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | One-to-Four | ​ | Home Equity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended | ​ | Family | ​ | Loans / Lines | ​ | Construction | ​ | Consumer | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​
June 30, 2025 |  | Mortgages |  | of Credit |  | Loans |  | Loans |  | Loans |  | Unallocated |  | Total
Allowance for Credit Losses |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Beginning Balance | ​ | $ | 1,441 | ​ | $ | 43 | ​ | $ | 26 | ​ | $ | 27 | ​ | $ | 43 | ​ | $ | 119 | ​ | $ | 1,699
Recovery of Credit Loss | ​ |  | (173) | ​ |  | 1 | ​ |  | — | ​ |  | (27) | ​ |  | (10) | ​ |  | 209 | ​ |  | —
Loans Charged-Off | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Recoveries Collected | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending Balance | ​ | $ | 1,268 | ​ | $ | 44 | ​ | $ | 26 | ​ | $ | — | ​ | $ | 33 | ​ | $ | 328 | ​ | $ | 1,699
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended June 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Beginning Balance | ​ | $ | 2,454 | ​ | $ | 54 | ​ | $ | 32 | ​ | $ | 9 | ​ | $ | 126 | ​ | $ | 24 | ​ | $ | 2,699
Recovery of Credit Loss | ​ |  | (1,181) | ​ |  | 3 | ​ |  | (25) | ​ |  | (9) | ​ |  | 19 | ​ |  | 193 | ​ |  | (1,000)
Loans Charged-Off | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Recoveries Collected | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending Balance | ​ | $ | 1,273 | ​ | $ | 57 | ​ | $ | 7 | ​ | $ | — | ​ | $ | 145 | ​ | $ | 217 | ​ | $ | 1,699
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | One-to-Four | ​ | Home Equity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended | ​ | Family | ​ | Loans / Lines | ​ | Construction | ​ | Consumer | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​
June 30, 2025 |  | Mortgages |  | of Credit |  | Loans |  | Loans |  | Loans |  | Unallocated |  | Total
Allowance for Credit Losses |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Beginning Balance | ​ | $ | 1,526 | ​ | $ | 45 | ​ | $ | 13 | ​ | $ | 28 | ​ | $ | 80 | ​ | $ | 7 | ​ | $ | 1,699
Recovery of Credit Loss | ​ |  | (258) | ​ | ​ | (1) | ​ | ​ | 13 | ​ | ​ | (28) | ​ | ​ | (47) | ​ | ​ | 321 | ​ |  | —
Loans Charged-Off | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Recoveries Collected | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending Balance | ​ | $ | 1,268 | ​ | $ | 44 | ​ | $ | 26 | ​ | $ | — | ​ | $ | 33 | ​ | $ | 328 | ​ | $ | 1,699
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended June 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Beginning Balance | ​ | $ | 2,554 | ​ | $ | 57 | ​ | $ | 32 | ​ | $ | 9 | ​ | $ | 126 | ​ | $ | 24 | ​ | $ | 2,802
Recovery of Credit Loss | ​ |  | (1,281) | ​ |  | 3 | ​ |  | (25) | ​ |  | (9) | ​ |  | 19 | ​ |  | 193 | ​ |  | (1,100)
Loans Charged-Off | ​ |  | — | ​ |  | (3) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (3)
Recoveries Collected | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending Balance | ​ | $ | 1,273 | ​ | $ | 57 | ​ | $ | 7 | ​ | $ | — | ​ | $ | 145 | ​ | $ | 217 | ​ | $ | 1,699
​ Modifications Made to Borrowers Experiencing Financial Difficulty The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company uses a probability of default/loss given default model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Company modifies loans by providing principal forgiveness on certain of its loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. In some cases, the Company will modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. Upon determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectable, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. The Company had no loans with modifications to borrowers experiencing financial difficulty as of June 30, 2025, and December 31, 2024. There were no modifications to borrower’s experiencing financial difficulty entered into during the three and six months ended June 30, 2025 and 2024 and no loans which had defaults during the three and six months ended June 30, 2025 and 2024 which have been modified due to the borrower experiencing financial difficulty. Unfunded Commitments For the three and six month periods ended June 30, 2025 and 2024, provision for credit losses on unfunded commitments totaled $-0-. At June 30, 2025 and December 31, 2024, the liability for credit losses on off-balance-sheet credit exposures included in other liabilities was $15,000. Related Party Loans In the normal course of business, loans are made to officers and directors of the Company, as well as to their affiliates. Such loans are made in the ordinary course of business with substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. They do not involve more than normal risk of collectability or present other unfavorable features. An analysis of the related party activity during the six months ended June 30, 2025 and 2024 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |
(in thousands) |  | 2025 |  | 2024 |
Balance, Beginning of Period | ​ | $ | 511 | ​ | $ | 546 | ​
New Loans | ​ |  | — | ​ |  | — | ​
Change in Related Parties, Net | ​ |  | — | ​ |  | — | ​
Repayments, Net | ​ |  | (16) | ​ |  | (17) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance, End of Period | ​ | $ | 495 | ​ | $ | 529 | ​
​ Related Party Other The Company generally requires an inspection of the property before disbursement of funds during the term of the construction loan and inspections are typically performed by one of the Company’s directors. There is no revenue or expense recorded by the Company related to those services as the customer pays these fees through their closing costs.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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